Either I didn't fully understand the December Texas Eastern order or else FERC has just put a new and unhelpful spin on it. The Thursday rehearing order dramatically changes how the "shipper must have title" rule applies to acquisitions of upstream capacity. I thought the Dec. order pretty clearly allowed a pipe to acquire upstream capacity and then resell that capacity under the acquiring pipeline's rate schedules. FERC specifically held that the "shipper must have title" policy won't be applied if the acquiring pipe treats the acquired capacity "as though it were part of its own system". (p. 61,886) The Dec. order even cited TW's acquisition of park n ride capacity from PG&E as an example of the type of transaction that (I thought) could be done without advance Commission approval. Now, FERC explains that it did not intend a "blanket waiver" of the shipper must have title policy. Pipes can still acquire upstream capacity without advance FERC permission, but only if the acquiring pipe is going to use the acquired capacity for operational needs or to resell under the selling pipe's release mechanism. If the acquiring pipe wants to use the acquired capacity to support sales of service under the acquiring pipe's rate schedules, a specific waiver of the "must have title" policy is required (see FN 20 and text). We are right back to where we started. I guess the orders signal that FERC is much more likely to grant waivers of the "must have title" policy than in the past, but I don't think we are good to go to acquire upstream storage, for example, and resell it as FDD or IDD until we get permission first. Shelley--let me know if you hear any expressions of outrage from other
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answer: Texas Eastern
Enron rings opening bell for bandwidth exchange By Corey Grice Staff Writer, CNET News.com December 2, 1999, 5:40 p.m. PT The opening bell has rung for a new kind of exchange. The currency? Bandwidth. A subsidiary of energy industry giant Enron, Enron Communications, today opened the doors to a bandwidth commodity exchange. The company first announced its intention to sell space on high-speed networks as a commodity in May. Traditional commodity exchanges sell goods like oil, natural gas and grain. Enron has taken this concept and given it a telecommunications spin, offering space on high-speed networks to communications carriers. In the past, carriers looking to fill holes or service gaps in their networks would have had to enter long-term contracts with other carriers to fulfill their bandwidth needs. The exchange, Enron says, acts as a sort of middleman for carriers to find short-term contracts or quick fixes as they complete network construction or try to manage heavier-than-expected network traffic. For example, Global Crossing plans to sell capacity on a high-speed fiber optic link between New York and Los Angeles over the exchange. Enron also expects to start an international bandwidth trading market next May. Separately, RateXchange, a similar bandwidth exchange, demonstrated its own commodities trading system at a telecommunications conference in New York today. RateXchange predicts that the trading of bandwidth and other telecommunications products could become a $8 billion market by 2002.
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answer: Bandwidth Exchange article
The company's determination that leave will be counted as FMLA must be communicated to the employee within two business days of the company receiving sufficient information to determine FMLA coverage. The employer must commit that to writing by the next payday (or the one after that, if the next payday is less than a week from the date oral notice was given). This requirement should be communicated to HR/supervisors for compliance purposes.
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answer: FMLA Leave
Reviewed all airlines in CAS; the following are our exposures as of COB 9/14/01: Continental Airlines: EES - $33,598 consisting mainly of one very small gas sale (40,510 mmbtu) extending through 8/02 and the related monthly receivable AirTran: ENA - ($7,346,638) consisting mainly of HO and WTI financial swaps extending through 2004 - fairly significant volumes British Airways: ENA and ECTRIC - ($7,882,260) consisiting of mainly WTI finanacial collars extending through 2003 Air Canada: ENA - ($2,703,433) consisting of mainly WTI financial swaps extending through Q1 2002 Jet Blue Airways: ENA ($40,682) consisting of financial WTI swaps extending through this year I have created a tracking group in CAS so that we can run reports easily to quantify our exposure daily, if needed. Additionally, all airlines have been added to the Credit Watch List as of this morning. Please advise if you have further questions. Tanya
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answer:
Airline Exposure