Dear Ken: We have very serious offers out to two young - but very highly regarded - economists doing work in areas of interest to Enron. (Please see enclosed.) Hendricks is being recruited for one of the Lay family chairs. Rust, now at Yale, is being recruited for our new university-wide Center in Computational Economics and Finance. His work is likely to be of considerable interest to Enron. Malcolm
Q: What is a potential subject line for this email?
answer: Agenda Items Number Two and Five for Wednesday 5:00 Meeting
As far as your email questions, my responses are following: 1. The list I have provided you is the only list that exists on financial counterparties. There is no Excel spreadsheet to follow. 2. Duke Energy Corporation. At Mark's direction, I am sending his note below regarding utilities. Again, until we do the due diligence on a utility counterparty we have no way of knowing what kind of local, state or federal regulation or approvals they may be subject to. We currently have masters in place with only about 10 utilities/govt's. We are in the process of negotiating another 30. Until those masters are executed and we have the relevant resolutions, authority documents and/or legal opinions, I cannot approve them for online trading. I have made every effort to search company websites and elicit from Credit whether a counterparty is a regulated utility or not. If I cannot tell by the information available to me, additional due diligence will be needed to see if they are subject to local, state, or federal regulation. Mark can override any decision I have made, I can only make decisions within the guidelines the attorneys have set for me. 3. Montana Power Trading and Marketing Company is a subsidiary of a regulated utility. I am unable to determine from Credit or their website what type of regulation they might be subject to. The note is true that Credit says they are getting out of the business anyway. 4. Petrotemex. Per my conversations with Mark and our advice from counsel, unlike U.S. and U.K. counterparties, Mexican counterparties are not able to enter into derivative transactions unless their articles and bylaws specifically provide for these types of transactions. We will not know this until the due diligence is completed, so I am supposed to say "no" for Mexican counterparties we do not have a master swap agreement in place with. 5. PSEG. It is an energy services company; however, it is also not an eligible swap participant (or "ESP"). CFTC regulation limits the derivatives trading we may do to certain types of counterparties that meet certain financial requirements (large, institutional type investors, companies, banks, etc). Corporations and partnerships have to meet certain net worth and asset levels or we cannot trade financially with them. Whenever I say "not ESP" or "not eligible swap participant" it means they have not met the financial net worth test. 6. The American Coal Company. See prior note.
Q: What is a potential subject line for this email?
answer: Online Derivatives Trading with Regulated Utilities
*** Hotel Villa Nina e-mail: vilanina@racsa.co.cr site: www.hotelnina.com SALUDOS DESDE MANUEL ANTONIO, QUEPOS Y HOTEL VILLA NINA GREETINGS FROM MANUEL ANTONIO, QUEPOS AND HOTEL VILLA NINA Dear : Paul Thanks for your interest in our Hotel. We have room check in 02/02/02 and check out 02/04/2002. Type AAA: Air conditioning, one queen size bed, cable tv, telephone, bathroom with hot water, terrace with table and chairs, refrigerator, coffee maker, plates, glasses, cups and silverware. The rate is US$63 per room, per night with taxes and continental breakfast included. Type AA: Air conditioning, one full size bed, telephone, bathroom with hot water, terrace with table and chairs, refrigerator, coffee maker, plates, glasses, cups and silverware. The rate is US$57 per room, per night with taxes and continental breakfast included Type A: Air conditioning, one full size bed o two singles bed, telephone, bathroom with hot water, terrace with table and chairs, refrigerator, coffee maker, plates, glasses, cups and silverware. The rate is US$49 per room, per night with taxes and continental breakfast included In order to make and guaratee the reservation, send a fax (506) 777-1497 or e-mail with a credit card number, expiration date and holder?s name like appear on the card. Looking forward to hear back from you. Fred Reservations If you would like some information on tours in Manuel Antonio, local flights reservations or rent a car in Costa Rica, please do not hesitate to contact us
Q: What is a potential subject line for this email?
answer: Availability
This is a reminder that employees of Enron and its affiliates should maintain the confidentiality of certain Enron information. Enron's confidential information includes all non-public information relating to Enron's business, including but not limited to: information regarding customers, employees, contractors, and the industry; strategies, methods, books, records, and documents; technical information concerning products, equipment, services, and processes; research and fundamental market data (including databases and research materials); Enron OnLine; systems (such as Enpower, Sitara, etc. ); financial and sales data; pricing strategies and price curves; trading methodologies and terms; evaluations; opinions; interpretations; the identity of customers or their requirements; the identity of key contacts within the customer's organizations; marketing and merchandising techniques; and other information that is not generally known to the public. If you have questions regarding the scope of your responsibility or whether Enron regards any particular information as confidential, please contact your human resource representative who will be glad to assist you. Thank you,
Q: What is a potential subject line for this email?
answer:
Confidentiality Reminder