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I agree with Mark's points. While we have advocated our merger with PGE (which did not concentrate market power) we have intervened in opposition to most others. Moreover, there is some hope that the German government will take the opportunity to use the proposed utility merger to force greater open access. We will likely encourage that action and may oppose the merger otherwise. Most mergers in this industry are defensive, not procompetitive, and, in my view, deserve no credit for convergence, innovation, or liberlization.

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OUT: Speech to the British Institute of Energy Economists

IN: This is an email
Though many of you already know, today is my last day here at Enron. I am leaving to pursue my culinary interests full time and have accepted a baking/pastry apprenticeship with the Deer Valley Resort in Park City, Utah for the winter season. I am happy to have spent the past 3 years working with such a fun and intelligent group of people. I sincerely wish all of you the best in your future endeavors. Please don't hesitate to look me up if you are in the Park City area, vacation planning, or considering some radical career change like this...ha. It would be great to see old friends up there. Forwarding info is below:

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OUT: Park City Bound

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Good morning all! Cheryl just called and has let me know that she will be in the office today around 11:30 am; she is not feeling well this morning. If you should need anything, please feel free to contact me directly.

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OUT:
Cheryl Nelson - In around 11:30 am today