Can there not be an argument made to dive into TXN? It's trading at 25 forward P/E (2001) with a 5-year consensus growth rate of 24.2. A PEG of ~1 on a high quality stock with superior technology, good management, great market position and tremendous long-term growth has got to be an opportunity, right? What's your view? The technicals (MACD) are not great right now but I think fundamentally this is a tremendous value long-term. It looks like the economy has really got the brakes on now (too much) but wouldn't you expect the market to begin pricing in rate cuts in 2001 pretty soon and an eventual return to high growth in technology? I wouldn't touch any peripheral players but some of the megacap stocks with great market positions, like TXN, are sure tempting. Nasdaq down 46% from its March high and not looking good at the open. This could be a "buy while there is blood in the streets" opportunity.
Answer: TXN
Here is an email: The Board decided in today's meeting to delay the effective date for adoption of the goodwill and intangible asset portion of the business combinations exposure draft to fiscal years beginning after December 15, 2001, permitting early adoption for fiscal years beginning after March 31, 2001 if financial statements for the first quarter have not yet been reported. This means that goodwill amortization will continue through year-end. Discussion is continuing on when the first impairment analysis will be required given the new adoption date and whether or not initial impairments may be reported as a change in accounting principle. Adoption of the business combinations portion of the exposure draft is still anticipated to be required for acquisitions subsequent to June 30, 2001. The main implication of this is that more excess purchase price is expected to be allocated to identifiable intangible assets rather than goodwill for acquisitions completed after this date. The pooling-of-interests method of accounting for business combinations is still anticipated to be eliminated as of June 30, 2001.
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A: Goodwill Exposure Draft
Q: When: Monday, January 07, 2002 1:00 PM-5:00 PM (GMT-06:00) Central Time (US & Canada). Where: ECN 2601 *~*~*~*~*~*~*~*~*~* Agenda: 1) Organize USER/IT SWAT teams 2) Begin process of fleshing out test scripts Please review the attached spreadsheet for errors or omissions prior to meeting. If I have left anyone off the list, please let me know. Thank You,
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A: Updated: Integration Test Team Meeting
IN: Many of you have inquired about January reimbursements to 2002 flexible spending accounts. Aon Consulting, Enron's flexible spending account administrator, has experienced some processing delays. Aon has encountered difficulty in retrieving spending account deduction information, and some deductions are not appearing in Aon's records. Enron Benefits is working with our IT group to help Aon resolve this issue. Also, unprecedented activity at the end of 2001 flooded Aon with year-end claims. Aon has assured us that 2001 reimbursements are now up-to-date, and that they began processing 2002 reimbursements on Monday, February 4. Questions regarding flexible spending accounts can be directed to georgia.fogo@enron.com.

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OUT: Flexible Spending Accounts
IN: This is an email
Everyone, We are in the process of creating new contracts with UBS for all Market Data real-time applications, subscriptions and publications. Attached is a comprehensive list of all contracts that will be renegotiated under the UBS name for use by the Gas and Power trading entities. In order to leverage UBS' significant discounts and avoid duplicate efforts, Danielle Marcinkowski with Market Data will be the initial point of contact when inquiring about the addition or status of applications or publications. I bring this to your attention because we understand that several groups have initiated discussions with the various vendors over the past few days. If you have any questions please feel free to contact me at 713-853-9358 or Danielle at 713-853-7926. If you think something is missing from the list, please bring it to our attention immediately. Please pass this word around within your group as appropriate. Regards,

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OUT: Market Data Contracts
In this issue: - Feature: Here Come Super RTOs to Save the Day - California's regulators postponed votes once again on proposed rate increases, threatening the state's US$12.5 bond sale - All the news, commentary, and earnings reports, plus price performance and valuation charts *As a special addition to this week's Prometheus File we have included a note on Calpine and news affecting the company over the past week. Please see the separate attachment below. <<prometheus010907.pdf>> <<Calpine Note 09-06-01 95.doc>> Best regards,
Answer:
The Prometheus File - Energy Technology Weekly 09/07/01