IN: This is an email
Russell: I spoke briefly with Paul about your long-dated commodity deal and have a few comments. (1) Have you spoken with anyone on the confirmation desk about preparing a draft confirm? Joe Hunter (X33316) is a good start. (2) Paul advises that you will be transacting pursuant to the existing ISDA Master Agreement between ENA and CSFB Int'l (name change from Credit Suisse Financial Products). In that regard, you should be sure to add the following items to the confirmation and discuss with your counterparty: (a) ENA should be the Calculation Agent for purposes of this transaction. (b) You should provide for "Payments on Early Termination" as: "For the purpose of Section 6(e) of the ISDA Master Agreement, (i) Loss will apply, and (ii) the Second Method will apply." Also, you should obtain evidence of the name change (usually a certificate of name change). Let me know if you have any questions. Thanks. Sara

What is the subject?

OUT: CSFB International deal
QUESTION: Mark: I scheduled a meeting with you at 4:30 pm today to discuss the MG acquisition, in particular, MG London, Inc. (a U.S REGULATED NYMEX clearing member, FCM, CTA). NO ONE is looking into this from a US regulatory/legal perspective and I think it should be the swap group. Enron's "regulated" product areas are metals (since MG clears its own trades on the NYMEX/COMEX and has FCM/CTA status) and potentially agriculture if we (some Enron entity) choose to become a regulated "ATOM" (ag trade option merchant). From a legal perspective, I think we should have a "whitepaper" drafted by Sullivan & Cromwell, and, it should include an analysis of the MG London, Inc. existing situation. This would tie into the ag regulation. Also, have you thought about ENA and MG as NYMEX members and whether we keep both designations, whether we move all/part of ENA's existing clearing business to MG (and perhaps eliminate the need for margin/brokering arrangements such as Paribas, etc.) and any other related issues? For efficiency purposes, Donna Lowry has asked to join us. Donna and I had a conference call this morning with Justin, Paul, Jon Barrett, Sheila Glover and Trena McFarland to figure out who's on first (with MG). Also, I am attaching an update of my workload. I have reached the breaking point and I need more help (even with Jason's help on brokerage agreements the new electronic trading platform agreements are reaching multiple proportions with a new request for agreements for ENA, ECT Investments and EnronCredit.com London). Gareth and Craig Clark want to meet today about the prepay (Delta/Citibank) and I REALLY need help on the Global Finance side. See you later. Sara
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ANS: workload
Looks like we have an issue with RisktRAC access. In order to be able to set up books in RisktRAC, the only role that currently exists is the Risk Controls group, who has access to all books, hierarchies etc (all groups, all commodities). With NetCo coming on line, the Risk Controls group has been asked to approve RisktRAC access to the new NetCo controls group so they can set up the new gas books that have been requested. I am uncomfortable granting access to NetCo personnel, as they would be able to see all the estate info, including Europe, EIM, EGM, ENA etc. Also, it is my understanding that the IT groups are working on splitting out the systems but will not be able to do so until after these books have to be set up (deadline for them is next Monday). As such, I recommend the following: In order to ensure there is a segration between NetCo and the estate, until the systems are segregated, the IT groups should be responsible for setting up books, curves etc. How does that sound? Thanks
Q: What is a potential subject line for this email?
answer: NETCO access to RisktRAC
Sherry and Johnny Bains have put together a great package for the 31st at the Tribute. Time will be from 8:30 until 1:30 am. Package details: Valet service 2 blackjack tables manned by trained Vegas dealers Special midnight countdown with champagne toast Open Bar!!! Two for 1 golf coupon at the Tribute (cost normally around 100 on weekends) Menu to include (served between 9- 11:15 pm) Shrimp and Oysters with Caviar; Smoked Salmon, Smoked whitefish; fresh asparagus; Spicy beef mini sandwiches; goat cheese with crackers; chef carved NY strip lion; filet of salmon with saffron risotto; Supreme of chicken and sun dried tomato-cream sauce; basil mashed potatoes and more. Midnight Buffet will include black-eyed peas, mustard greens, corn bread, & assorted French pastries. Other items will be a DJ and his cost will be divided up later (maybe around 5 bucks)
Answer: New Years Eve Party
Here is an email: Fellas, Presto has asked me to be the contact to Allan Stewart at PIRA with regard to setting up an arrangement for their consulting services. I'm currently having information-gathering discussions over services and fees for both gas and power, in both the east and west. In order to fully incorporate everyone's needs into our arrangement with PIRA, I'll be contacting you this week to gather requests. Or, if you know what you need, please just reply to me with the specific information. Thanks,
What is a potential subject line for this email?
A: PIRA
QUESTION: Effective July 16, Andy Zipper will join the Natural Gas Derivatives group in Enron Americas reporting to John Arnold. Andy and his team have done an excellent job developing EnronOnline, as well as creating a significant commercial focus. Please join us in thanking him for his many contributions and in wishing him the best in his new role. Savita Puthigai, who is responsible for the EnronOnline operations group and reported to Andy, will now report to Jay Webb. In addition to leading the platform development efforts, Jay's role will be expanded to include the EnronOnline operations group. In his expanded role, Jay will work closely with all Enron commercial groups to continue developing the platform. The EnronOnline e-Commerce Marketing and Origination group will report to Brad Richter, who will join Net Works from EBS. In his new role, Brad will continue the growth and expansion of the commercial activities for EnronOnline. Please join us in congratulating everyone on their new roles. We look forward to their continued contributions toward the success of Enron.
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ANS:
Organizational Announcement