IN: I thought it might be a some help if I distributed a red-lined version of this document prior to tomorrow's meeting. I hope you find this of some use. Jeff

Generate a subject line.

OUT: Producer Services Agreement
IN: This is an email
Lillian, please see the attached authorization memo. It is still in draft form, but since time is of the essence, Geneva advised me to forward it to you now so that you could start working on it. We would like to have the new company formed today if possible. I will let you know if I make any changes to the attached. In the meantime, please do not hesitate to call if you have questions. Susan Scott x30596

What is the subject?

OUT: ETS Newco
QUESTION: I left off three Operational Analysis people who recently moved to ECS from ECN. They are at the bottom. Hopefully this is the last change!
Propose a subject line for this email?
ANS: ENW in ECS - Revised Again
Leslie, I have just completed reviewing the APS filing. This paper explains much of the observed behavior of APS during the DSTAR (WestConnect) proceedings over the last several months. The paper is so full of market "scare" tactics it seems appropriate to be reading it during the Halloween season. The token effort of procuring 270MWs starting 2003 and ramping up to 1670 MWs in 2008 is ridiculous. The statements that APS generation is somehow more secure and reliable than any generation not owned by APS, using the same grid, and that non-APS generators have little if any responsibility to the "Full-Requirements" customers are all beyond belief. The mis-characterization of the problems experienced in CA, OR and WA and the contemptuous citing of "experts" seems typical of the APS distain for deregulation. The entire filing is more like a guaranteed plan to recover the "Billion" dollars invested by APS, with convenient adjustment clauses every three years. As you noted earlier today, the Commissioner of the ACC may be more concerned over the APS stock price than truly encouraging open markets and retail access and what better why to help the stock price than to award APS a 14 year contract...look at what the Defense Department did for Lockheed!!! I spoke with Chris Lackey who met earlier this month with Pinnacle West's (APS subsidiary) head of Trading who told him that PinWest is very conservative (as stated in the filing), their primary function is to support APS and they saw no real opportunities to conduct business with Enron. However that could change if their petition is denied. Please let me know how you'd like to proceed. If this is approved by the ACC I assume it must then go to FERC, do we have an opportunity to intervene with the ACC and/or FERC in regards to this filing? If we do, I'll be happy to help you with composition of the documents. Kind Regards,
Q: What is a potential subject line for this email?
answer: Partial variance to AAC R14-2-1606(b)
Ken, Greg, Mark - Thank you for your leadership over the last several weeks and this morning. We appreciate it. Following are some additional thoughts and some more detail on my comments from this morning: The leadership group in that room needs to feel the sense of responsibility to lead our businesses. Everything we say & do - including all written, verbal and "body language" - are signals. We must communicate and lead all day, every day. As an organization, and as part of our culture, we lead with our chin - always have and probably always will. We are going to take our share of bumps and bruises. We have some great businesses here....and we are fortunate. We have grown the size and profitability of our core businesses substantially, and in a market where many companies have not been as successful. Most of our wounds are self - inflicted. We can and should do a better job. I believe this leadership team needs to make an absolute commitment in the following areas: Vision - define what we want this company to be in the next 3-5 years Value - as part of building the World's Leading Company, my vote is that we dedicate our energy towards building long term, sustainable value. This is not about just creating value in the eyes of Wall Street - this is about creating real value, perhaps as defined by "after tax operating profit minus the real cost of capital". Market cap will follow this type of economic value creation. We need to measure it and incent people this way. Teamwork - we are a leadership team. I don't feel as though everyone buys into that nor is it clear that everyone around that table feels a sense of responsibility to lead across the business. I would like to discuss how we improve as a team. Many of our employees (at an average age of 33 years) have never been through: an economic downturn a global military conflict problems like the ones we are currently experiencing at Enron We need big time leadership now....from all who are around that table Clear Demonstration of our leadership - in clear view of our employees, customers and shareholders People - we must make sure to retain and enhance the interest of the employees that add value to Enron everyday. These people need to believe - with our actions - that we are absolutely focused on making sure they have an environment that is conducive to building and creating value over the short, medium and long term. The ball is in our court. We have to lead and be perceived as credible leaders. We've got to dig deep and get down the road - together. If you wish, I would be pleased to discuss this further. Thank you again for your leadership.
Answer: Management & Leadership
Q: The information contained herein is based on sources that we believe to be reliable, but we do not represent that it is accurate or complete. Nothing contained herein should be considered as an offer to sell or a solicitation of an offer to buy any financial instruments discussed herein. Any opinions expressed herein are solely those of the author. As such, they may differ in material respects from those of, or expressed or published by on behalf of Carr Futures or its officers, directors, employees or affiliates. ? 2001 Carr Futures The charts are now in the most recent version of Adobe Acrobat 4.0 and they should print clearly from Adobe Acrobat Reader 3.0 or higher. Adobe Acrobat Reader 4.0 may be downloaded for FREE from www.adobe.com. (See attached file: UnleadedStocks.pdf)(See attached file: CrudeStocks.pdf) (See attached file: HeatingOilStocks.pdf)(See attached file: PADDIIstocksCL.pdf)(See attached file: PADDIstocksHO.pdf)(See attached file: PADDIstocksHU.pdf)(See attached file: API.pdf) - UnleadedStocks.pdf - CrudeStocks.pdf - HeatingOilStocks.pdf - PADDIIstocksCL.pdf - PADDIstocksHO.pdf - PADDIstocksHU.pdf - API.pdf
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A:
API and API Crude, Distillate & Unleaded Stocks Graphs