QUESTION: Randy, give them what they want and lets move on - don't give another guarantee provide the indemnity for the IRS and environmental claims. Mark if there is a flaw in my thinking let me know. Joe, these guys have been exceedingly difficult to deal with - I would think twice before we bring these guys into any Enron deal in the future. Regards
Propose a subject line for this email?
ANS: Fidelity update
Jim: As we have discussed, ENA is trying to close a gas supply transaction with Citizens Gas in Arizona to provide gas supply to Citizens for ultimate delivery to PP&L for the Griffith power plant. As part of this transaction, Enron Asset Management Resources (EAMR) would provide services to operate a pipeline that interconnects El Paso and Transwestern to the pipeline header system that ultimately interconnects with the Griffith power plant. To date, it has been the reasonable position of EAMR that its liability for services provided to Citizens should be "capped" at the sum of its annual fee of $144,000. Citizens wants a $1,000,000 limit. Citizens and EAMR have agreed to all aspects of the services deal except this liability question. Although it might be possible to close our gas deal without EAMR, this is far from certain. I have been trying to come up with an approach that would bridge this gap so that the ENA gas deal can be closed. This e-mail is intended to indicate the value of this transaction to Enron and get your viewpoint as to the feasibility and cost of one of two deal structures: 1) ENA buys insurance to cover the cost of our buying a policy to bridge th gap in liability from $144,000 to $1,000,000. 2) EAMR decides to increase the laibiltiy to $1,000,000 in return for increasing their earnings on the deal by the amount ENA would pay fior the insurance product - about $120,000. ENA's preference is clearly for approach 2. The attached spreadsheet indicates the value of this transaction to Enron. ENA will earn approximately $3 million on the deal. Please keep this number in confidence. In addition, we have budgeted about $120,000 for the insurance product to increase the liability of EAMR from $140,000 to $1,000,000. Can you please advise me as to the feasibility of 1) or 2) above? If there is no way we are going to get there, I need to know fairly quickly so I can explore other options. If it is possible, which of the above 2 approaches is better from you perspective? Citizens will be here today at 3:00 pm. I would greatly appreciate some feedback from you by that time. To contact me please call Kim Ward at 713/853-0685 and she will be able to find me. Thanks very much for you time. Chris
Q: What is a potential subject line for this email?
answer: Citizen's Gas/Enron Transaction in Arizon
Scott- Don Miller would like for me to get together with you to discuss several gas storage transactions that have been originated recently (in MI, LA and TX). I have been meeting with Jean Mrha and Laura Luce and their respective teams, but want to better understand a trading perspective on these assets. I'm more interested in your macro views than specifics related to each particular project. Please let me know a time that works for you (tomorrow or Friday would work best for my schedule). thanks,
Answer: time to discuss gas storage
Here is an email: Thanks for reserving tickets to the October 17 Presidential speech at the Sacramento Memorial Auditorium. We are now in possession of the tickets and must ask you to pick them up as soon as possible, either Monday or Tuesday at our offices, 980 Ninth Street, Suite 2200 from 8 a.m. to 5 p.m. In the event you wish to have the tickets delivered to you overnight by Federal Express or other major carrier, please call Geri Royer and give her an account number to which they may be charged, no later than 3 p.m. Monday, for delivery Tuesday. As a last resort, we have reserved a room at the Sacramento Convention Center for October 17, 2001 where the last remaining unclaimed tickets will be held from 7:30 a.m. until 9 a.m., however it is recommended that you claim your tickets as quickly as possible to ensure your seating. We are also attaching a sheet of instructions, which you should read carefully and retain for the day of the event. Also there is a map of downtown Sacramento with parking garages marked, if you should need it. Thanks for your interest and we look forward to seeing you all at this
What is a potential subject line for this email?
A: How to Get Tickets
Q: Okay, I think the tds tab in newcurrentday was wrong. It is showing a jan pos of 269.55 lots, but TDS is showing 539.1. False alarm. We will fix newcurrentday. Mike
Propose a subject line
A: PG&E Citygate Basis position for January
Here is an email: Dear Potential Gas Supplier As some of you may know our authority to buy gas off our existing spot agreement will come to an end on December 31, 2001. While we will honor current commitments for gas to be delivered after that date, but we will not be able to use the spot agreement to buy any more gas. The reason that this is happening is that our City Attorney has interpreted the new City Charter as not allowing delegations of authority such as employed in the way we buy gas now. We are seeking approval for an ordinance which must be approved by the City Council that will restore our former ability to buy gas with the kind of agreement most gas suppliers are familiar. We have the ordinance approved by the City Attorney and it will shortly be in the pipeline for approval by our Board and the City Council, but until then, this contract is a stop gap to keep us operating. I've attached the new contract and a cover letter which explains what we are doing. The deadline is November 8, 2001 at 4:00 PM. We will take the executed contracts to our Board with the counterparties listed on a Board Resolution and, if it is approved, we will be allowed to buy gas from this group after the new year begins. This is not the ideal contract but one we feel our Board will be comfortable with until we can get around the Charter problem. I can't make any changes to this contract. There is a notice published in the LA Times about the availability of the contract but I am sending it to you directly as someone we have already done business with (and undoubtedly have satisfied all our boilerplate requirements) and will probably be interested in what we are trying to do here. I Hope most of you will respond. Thanks (See attached file: Spot Gas Cover Letter.doc)(See attached file: New Spot Gas Contract.doc) - Spot Gas Cover Letter.doc - New Spot Gas Contract.doc
What is a potential subject line for this email?
A:
LADWP Gas Contract