Dear Louise- I had a request from Keith Fraley as he was departing... He is interested in purchasing from Enron the equipment used by his group for the mapping function. This would include a couple of PC's, a couple of servers and the big plotter. Is this something that can be pursued? Please let me know.. Thanks,
Answer: Mapping Equipment
Here is an email: Is anyone familiar with an ISDA Master Agreement executed between ENA and the above company? I have received a Security Agreement executed by this party seeking ENA's signature and the document references the Endorsement (to a policy - what policy?) issued to ENA on 10/19/00 which defines the ISDA agreement. This could be related to credit activity in London. I am waiting to hear from Jeff Kinneman and Denis O'Connell.
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A: R.V.I. Guaranty Co., Ltd., a Bermuda reinsurance company and Continental Insurance Company
Q: Here is your conversation with my revisions marked (deletions struck through, insertions in bold). Hope this helps but feel free to call or write with any questions or comments: A: The CFTC regulates futures contracts and certain kinds of option contracts. SP: What's a futures contract? A: It is a contract for the sale of a certain kind of commodity through a regulated exchange. SP: How is the contract different than a non-futures contract? A: Ahem, just for your information, we call the non-futures contracts forward or over the counter contracts. The big difference is that the forward contract does not must go to delivery while futures contracts do not. SP: I though the futures contracts went to delivery. I remember getting all messed up on the gas side with delivery of NYMEX futures gas at the Henry Hub, and what about those stories of a guys getting a load of soy beans dumped in their front yards? A: Well, er, yes they do sometimes go to delivery, but they are not really supposed to relatively few of them go to delivery. They are supposed to more frequently (actually the vast majority of the time) net out as financial transactions. It's that option of settling financially that distinguishes the futures contract. SP: Well lets get to the point, why are physical buy sells so bad? A: That's easy. Because they look like futures contracts. They are not intended to go to delivery. And if you are trading in futures contracts you are supposed to be doing it on a CFTC regulated exchange. SP: So what you are saying is that if we deliberately net out our physical deals and never intend to even try to schedule delivery under them we are trading in futures contracts and could be subject to regulation by the CFTC? A: You've got it. But it's even worse than that - federal law says that a futures contract which is not traded on a regulated exchange is illegal: not only could the CFTC come after you but your counterparties could use that law against you to get out of performing. So you can think of each contract like that as having written a free option. SP: Well how much physicality do we have to have to make it a forward contract? A: What do you mean? SP: Well, if we settled physically one day a month but financially the other 29 days, would we have a futures contract? A: Oh for Christ's sake I've had it. I'm telling you once and for all that physical buy sells are futures contracts and you can't do them now get the hell out of my office!--
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A: Forwards vs. Futures
IN: Please respond to feedbackDear Peter, Now is a great time to be a Travelocity member. This month, we have another great array of Deals to help stretch your travel dollars, from free nights in the Bahamas and Hawaii to low rates on rental cars all over the U.S. We're also introducing something new: The Travelocity Preferred Traveler Program can help you save money every time you travel--It's the ultimate upgrade! Read on for more

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OUT: Real Deals from Travelocity.com
IN: This is an email
Britaldo Soarez would like to have a brief note indicating all of the things you are currently working on. Thanks Britaldo, In summary, this is what is left on our plates: Cuiaba I - Rob Gay RioGen - unassigned WestLB CAA - Peter Anderson, Cheryl Lipschutz Elektrobolt - Peter Anderson, Runabir Dutt Cuiaba II - Peter Anderson GTB Expansion - Brian Swinford Transredes Expansions - Brian Swinford Bom Retiro - Eduardo Camara Arcor - Guille Atenor Donna Francesca - Billy Mullville, G. Atenor G. Atenor keeps a weekly list which provides the level of detail you will need for our merchant activities. Tracee Bersani (associate) is helping out on Cuiaba I and the CAA. G. Atenor can give you the details of Diego Holovik's activities.

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OUT: Note to Britaldo
Please note the following addition to the domestic credit reserve for September 2001: CP: Williams Energy Marketing & Trading Deal No: 773737.1 EOL No: 1852957 Deal Date: 9/13/2001 Deal Specifics: EPMI to buy 50MW On-Peak Power from Cinergy for Calendar Year 2004. Term: 1/1/2004 thru 12/31/2004 Volume: 50 MWs On-Peak Price: $36.00 Delivery Point: Cinergy Trader/Mid-Marketer: Fletch Sturm Credit Reserve Amount: $20,000 (twenty thousand US dollars) RAC: transaction confirmed under Executed EEI dated 2/1/1997. Please call w/any questions. Kortney x30616
Answer:
Williams Cal 04 Reserve for EOL