Problem: BODY: <<MF June 8th 2001.pdf>> Good Friday Morning - Comments From The Local Guys! The following are highlights from Lehman Brothers economists Stephen D. Slifer and Ethan S. Harris's weekly comments: "The dichotomy between the near-term and medium-term economic outlook continues to build. Recent data for capital goods spending and the job market point to a further deepening of the growth recession. At the same time, the forces for eventual recovery continue to gather: major tax rebates are now a done deal, the Fed continues to ease aggressively, the stock market has begun to recover, and consumer confidence has begun to turn upward. We remain confident that the economy will recover sharply during the second half and return to solid trend growth in 2002. However, given the considerable downward momentum in the economy, the recovery may not be soon enough to deliver the solid 3% GDP growth we are forecasting in 3Q. Our current forecast has just one more 25 bp rate cut from the Fed. However, the odds are growing that the Fed will need to implement a 50 bp cut or two 25 bp cuts." The 30-year US T-Bond yield is 5.72%. The 10-year note yield is 5.33%. The 5-year is trading at 4.87%. Spot crude oil is trading at $28.04 p/b. Natural Gas - Henry Hub - is trading at $3.87 p/mcf. AD Time: New Federal Insider-Trading Rule (Rule 10b5-1) have been adopted by the SEC under the Securities Exchange Act of 1934. This rule greatly enhances an insider's/employee's ability to trade his/her corporate shares during blackout periods. Previously, without the protection of this new SEC rule, employees and insiders could safely trade only outside of designated blackout windows. Under this new rule, insiders/employees may have the ability to purchase and sell their corporate shares even during blackout periods if a written plan was established and in force when the insider/employee was not in possession of material, non-public information. The new rule contains other restrictions and should be reviewed carefully. Lehman Brothers has established a turn-key plan that take into account the regulatory procedures for establishing such a plan. Please email us or call us for more information. Lehman Brothers' Research.
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A: SUBJECT: The Morning Market Call - Friday June 8th, 2001.

Problem: BODY: Amanda, Yes, it appears that the link you set up works properly, however, I have a slight change. Please modify the title to read "WSCC Plant Outages (portlant)". Also add the WSCC to the description. In addition, please add an additional link under the Power tab called, "Cal Plant Outages (Cal ISO)", with a description of "Daily plant outages posted on the web by the California ISO." The file will be called "ISO curtailments.xls". Thanks. Mat
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A: SUBJECT: website link

Problem: BODY: Tana: As we discussed, here is my list of amendments that are according to my records in various stages of negotiation: 1. Allegheny energy - Patricia Clark sent to Frank Davis her comments on June 15th by e-mail. I responded on June 19th and have never heard back from her. Most of her comments we could not accept. None of her comments have been run by Dave. 2. Imperial Oil - Grant Oh was handling this. They had 3 comments. most of which we could not accept. I spoke with Grant about this around June 6th and have never heard back from him. None of their proposed changes have been run by Dave. 3. Kennecott Coal Sales Company - A draft amendment letter which Dave F. has approved was sent to them on May 15th. My contact there is Jim Sobule Wayne Gresham is alos involved in this. I have never heard back from Jim. 4. Arco - We received by e-mail comments from David Dyck at Arco in March. Tori Kuykendall and Grant Oh are involved from the Enron side. I responded to David Dyck by e-mail on March 10th and have never heard anything further on this. None of their comments or my response has been reviewed by Dave. 5. Chevron - Canada - I received a letter from Bruce Borwick on January 31st which I responded to and have never heard anything further from them. Dave has not reviewed their comments or my response. 6. Cargill - I sent to Mike Pederson a form of amendment letter which I don't think has been signed. They wanted a minor change to the confidentiality language. Dave has not seen this but in the event that Cargill comes back to life, i doubt that he will have a problem with it. 7. Cinergy - I sent a draft amendment letter which dave approved to John Dirheimer on May 15th. To my knowledge it has not been signed. 8. Duke Energy - I sent a draft amendment letter to John Puett on May 15th which Dave approved. To my knowledge, it has not been signed. 9. Talisman - we have been exchanging drafts of a revised ETA for months. My contact there is Ann Love. We are close to reaching agreement with them and mark has been involved in some of the early discussions. I am sending to Dave a mark-up of the revised agreement for his approval. All of the ETA amendment letters and the Talisman revised ETA are in my directory under specproj/online. Carol
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SUBJECT: Status of Online Amendments