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Matt,
Thanks for your email. I believe that there is an agreement in place between
ENA and Enron Expat Services. In general, the contract is between ENA and
the employee, if the person is an expat. The assignment letter covers the
employee's transfer to Expat Services. We haven't usually amended/assigned
the agreement over to Expat Services, because the payroll/benefits, etc. are
through ENA.
If there are changes to his ENA agreement, it is very easy for me to do them,
and I am happy to handle it.
If Mr. Slovenski is a VP level or above employee (I simply cannot remember
right now), then Executive Compensation needs to be involved.
I hope this answers your questions. I have copied Sharon Butcher on this
email because she has been involved with assignments/expats for several
years. If you have further questions, please reply to both of us so that we
can be aware of questions.
Thanks a lot.
Michelle
------------------------------------------------------------------------------
---------------------------
Michelle Cash
Enron North America Corp.
1400 Smith Street, EB 3823
Houston, Texas 77002
(713) 853-6401
[email protected]
This message may contain confidential information that is protected by the
attorney-client and/or work product privileges.
Matthias Lee
06/27/2000 03:48 AM
To: Michelle Hargrave/HOU/ECT@ECT
cc: Lilian Low/SIN/ECT@ECT, Angeline Poon/SIN/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Kimberly Rizzi/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, John
Chismar/SIN/ECT@ECT
Subject: Re: URGENT : Employment Contract - Rich Slovenski
Michelle
Subject to any views Michelle Cash has, I would be happy to assist by
drafting the agreed amendments to the Rich's Contract. I understand from
Lilian that changes would only be to the Annex and would not affect the main
body of the Contract. I can work with Lilian on this once she is able to
finalise the agreed amendments with John Nowlan.
I note your advice that ENA is the correct employing entity and the intended
arrangement is a secondment from Enron Expat Services to ENA. However, your
suggestion for a clause in the Contract to reference the secondment would not
be sufficient to put the arrangement in place. Rather, there should be an
agreement between Enron Expat Services and ENA. I believe such an agreement
is likely to be in place as Rich is not the first expat here in Singapore
from ENA - John Chismar and John Thomas who are here precede him.
Because I do not have the background to the relevant inter-company
arrangement between ENA and Enron Expat Services, I would suggest you
discuss with Michelle Cash on to clarify this issue, and perhaps make the
necessary amendments to the letter of offer which presently provides that
Enron Expat Services is the employer and that Rich will be expected to
provide services for ENA, instead of secondment from ENA to Enron Expat
Services
Regards
Matt
Michelle Hargrave
06/26/2000 09:40 PM
To: Lilian Low/SIN/ECT@ECT
cc: Matthias Lee/SIN/ECT@ECT, Kimberly Rizzi/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, John Chismar/SIN/ECT@ECT, Tim
Poullain-Patterson/LON/ECT@ECT, Angeline Poon/SIN/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT
Subject: Re: URGENT : Employment Contract - Rich Slovensky
Lillian,
We were discussing this with our International HR Rep and we feel that since
the offer letter indicates Enron Expat Services as the employe, the
employment agreement should reflect employment by ENA and we need to add a
clause secunding Mr. Slovinski to Enron Expat Service. PLEASE have Matthias
make the amendments so we can get this in place as soon as possible. I am
sure that as long as Legal in Singapore makes the necessary changes it will
be fine. The important thing is to get Rich to sign the contract!
You did receive the employment agreements we fed-ex'd you on June 6th didn't
you? Make the necessary changes and send a copy to us.
This was our first Expat and it has been a real learning experience.
Regards,
Michelle
Lilian Low
06/23/2000 09:18 PM
To: Michelle Hargrave/HOU/ECT@ECT
cc: Matthias Lee/SIN/ECT@ECT, Kimberly Rizzi/HOU/ECT@ECT, John L
Nowlan/HOU/ECT@ECT, John Chismar/SIN/ECT@ECT, Tim
Poullain-Patterson/LON/ECT@ECT, Angeline Poon/SIN/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT
Subject: Re: URGENT : Employment Contract - Rich Slovensky
Michelle,
Per my email to you and Kim (copied John Nowlan and John Chismar) dated 22
June, there were some amendments to his package which was only approved that
day. I do not have the soft copy of the executables to make the changes nor
am I sure if I m allowed to make amendments to them without legal reviewing
them.
Since Legal Singapore is aware of the situation, and if it is agreeable, we
can make amendments to the existing hard copies and have Matthias review
them. This should expedite this. However, we still need to know who would
be the employers of Rich - ENA or Expat services.
Lilian
Michelle Hargrave
23/06/2000 21:40
To: Matthias Lee/SIN/ECT@ECT
cc: Kimberly Rizzi/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT, John
Chismar/SIN/ECT@ECT, Lilian Low/SIN/ECT@ECT, Tim
Poullain-Patterson/LON/ECT@ECT, Angeline Poon/SIN/ECT@ECT, Michelle
Cash/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT
Subject: Re: URGENT : Employment Contract - Rich Slovensky
Matthias - the executables were Fed-Ex'd to Lillian on June 6th. We have
just been waiting for Rich to sign them and return them! Would you have any
idea as to why he has not signed yet?? As for it being Eron Expat or Enron
North America I will let Michelle Cash in our legal dept. respond to that.
Michelle - can you respond on whether or not it matters as to Enron Expat or
Enron North America and which is correct??
Regards,
Michelle
Matthias Lee
06/22/2000 11:03 PM
To: Michelle Hargrave/HOU/ECT@ECT, Kimberly Rizzi/HOU/ECT@ECT
cc: John L Nowlan/HOU/ECT@ECT, John Chismar/SIN/ECT@ECT, Lilian
Low/SIN/ECT@ECT, Tim Poullain-Patterson/LON/ECT@ECT, Angeline
Poon/SIN/ECT@ECT, Michelle Cash/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT
Subject: URGENT : Employment Contract - Rich Slovensky
Michelle / Kimberly
Please allow me to introduce myself - I am Legal Counsel for ECT Singapore.
It has just been brought to my attention by our HR Specialist Lilian Low that
the employment contract for our new trader Rich Slovensky has not been
executed. You would appreciate that that gives us a slew of control,
compliance and legal issues. Apart from confidentiality issues, Rich does not
presently have authority to bind ECT Singapore in contracts.
Please let me have your very urgent advice whether we can expect Rich's
employment contract to be in place immediately to regularise the situation or
whether we have to implement measures to stop Rich's trading activity.
Additionally, I noticed that the cover letter offering employment to Rich
refers to employment with Enron Expat Services but the employment contract
states that ENA is the employer. Please clarify or rectify as appropriate.
Regards
Matt Lee |
Notice No. 00-406
December 4, 2000
TO:
All NYMEX Members/Member Firms
All NYMEX Clearing Members
All NYMEX Floor Traders
All NYMEX Operations Managers
FROM: George Henderson, Vice President
RE: Options Expiration Operational Procedures for the Trading
Floor and Clearing Members
____________________________________________
The expiration date for the January 2001 options contract for Platinum (POF1)
is Friday, December 8, 2000.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 7:10 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:55 PM
Usual Event Time: 7:10 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:10 PM
Usual Event Time: 7:10 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:55 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 7:10 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:10 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony DiBenedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&
refdoc=(00-406)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
----- Forwarded by Tana Jones/HOU/ECT on 12/12/2000 10:58 AM -----
[email protected]
12/12/2000 10:44 AM
To: [email protected]
cc:
Subject: (00-416) Options Expiration Operational Procedures for
Gasoline-Crack and Heating Oil Crack
Notice No. 00-416
December 12, 2000
TO:
All NYMEX Members/Member Firms
All NYMEX Clearing Members
All NYMEX Floor Traders
All NYMEX Operations Managers
FROM: George Henderson, Vice President
RE: Options Expiration Operational Procedures for the Trading
Floor and Clearing Members
__________________________________________________________
The expiration date for the January 2001 options contract for Gasoline-Crack
(CGF1) and Heating Oil-Crack (CHF1) is Monday, December 18, 2000.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 7:10 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:55 PM
Usual Event Time: 7:10 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:10 PM
Usual Event Time: 7:10 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:55 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 7:10 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:10 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"
http://208.206.41.61/email/[email protected]&refdoc
=(00-416)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
BUSINESS HIGHLIGHTS
eSource
eSource, Enron's research group, has experienced an overwhelmingly positive response to the research training which it has hosted. Participation and interest by Enron employees has exceeded expectations and many classes were quickly filled. As a result, repeat classes have been offered and new sessions have been added to the program. In addition to the Lexis-Nexis and Dow Jones classes, eSource has now begun hosting sessions on Piranha (financials and pricing information), Investext (analyst reports and market analysis), Global Access (financials and corporate activity), and Securities Data Corp. (M&A, debt). eSource has also arranged long distance sessions using interactive web tools for Enron employees around the world. Watch for e-mails announcing new training sessions, either in Houston or in a virtual desktop mode.
Since our launch in December, the eSearch website has received over 230,000 hits. The site today offers Enron employees access to 34 electronic databases. These databases offer the latest financial and business on-line research capabilities in a cost-effective manner. In this era of information explosion, databases are constantly being reviewed to ensure that Enron's research needs are being met. If you know of a professionally relevant database that might be added to eSearch, let us know. Meanwhile, to further fulfill Enron's research needs, eSource is arranging for desktop access to good-old-fashioned libraries too. Books from public and local university libraries can be located, borrowed and delivered to employees' desks. This should be particularly helpful for those with more specialized or technical research needs.
We are also proud to report that at a recent local research conference, Enron's eSource was featured as an industry trailblazer for having invented itself into a combined virtual library and intranet-based research center capable of delivering a broad range of research products and services via the user's desktop. Attendees from Reliant, Shell, Halliburton and ExxonMobil and others were duly impressed.
As for the future, watch for Version 2.0 of the eSearch website, http://esource.enron.com, scheduled to launch soon. It will feature greater functionality and additional content. Look for new features like "Industry Overviews" and links to information providers like Frost & Sullivan, Country Watch, and World Energy Markets.
IN THE NEWS
Chicago And Its Suburbs Pick Enron, ComEd For Power Deals
06/06/2001 Dow Jones Energy Service (Copyright (c) 2001, Dow Jones & Company, Inc.)
CHICAGO -(Dow Jones)-The City of Chicago and 47 suburban communities have decided to divide new deals for 400 megawatts of power between Enron Corp. (ENE) and local utility Commonwealth Edison Co., Chicago officials said Wednesday.
In the largest power purchase agreement in Illinois since the state choose to deregulate the industry in 1997, the local government groups will get 60% of their power from Enron and 40% from Exelon Corp.'s (EXC) ComEd. The municipalities use the power for public buildings and public transportation.
Chicago announced Monday that the group has picked ComEd to meet the renewable target by providing 80 megawatts of power created with landfill gas, wind and other sources. ComEd will also provide the coalition with another 80 megawatts of power generated with fossil fuel and nuclear plants, and Enron will provide the other 240 megawatts. The new contracts are expected to go into effect this year.
"We used our purchasing power as local governments to get the best price we could and at the same time to promote competition in Illinois. Enron gave us the most competitive price," Chicago Mayor Richard M. Daley said at a press conference.
WELCOME
New Hires
EGM - Jennifer Morris, Mike Reen, Daniel Fuller, Jason Paterniti
ENA - Craig Hawkins, Carol Langston, Mark Morrow, Harlan Murphy, Bruce Petitt, Emily Schwarzbach, Alice Wright, Allyson Zykorie
Transfers (to or within)
ENA - Thomas Kalb, Debra Brannen, Juan Camarillo, Richard Orellana
EGM - Joana Bekerman, Eric Tipp, Kellie Metcalf, Ricardo Charvel, Jason Andrade
EIM - Jaime Araoz, Gabriel Chavez, Enrique Cadena, Rosalinda Castillo, Kimberly Chick, Ana Morena, William Brown, Grisela Escamilla, Paul Burkhart, Jodi Coulter, Douglas McDowell, Catherine Pernot
NUGGETS & NOTES
Enron is hosting the Chicago Energy Risk Management Seminar at The Drake Hotel in Chicago on June 14, 2001. Topics include: Power Outlook, Natural Gas Outlook, Hedging Strategies, Weather Risk Management and Pulp and Paper Risk Management. The RSVP deadline is June 8th so please contact Laura Pena as soon as possible at x 3-5376. This is a great event for "new" as well as established customers. There will be a cocktail reception immediately after the presentations. Enron will also be hosting seminars in Atlanta, Houston, Denver and San Francisco. Dates to be announced soon.
Congratulations to Kathy and Craig Taylor, manager in East Origination. They are the proud parents of a baby girl, Katherine Montgomery, born on May 25.
Travel tip of the week:
When booking through TAP or ClickTrip, use preferred domestic airline carriers to recognize special Enron discounts.
American 28% American West 15%
Continental 17% Delta 10-28%
Northwest 20% TWA 19-25%
United 20% US Airways 30%
Please note: discounts are confidential and should not be disclosed to anyone other than Enron employees.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of June 5, 2001.
* Total Life to Date Transactions > 1,045,000
* Life to Date Notional Value of Transactions > $630 billion
experience Enron
Announcing enhancements to experience Enron:
? To begin your customer's Enron experience, we will send out customized invitations with a Guest Check-In Card that contains detailed instructions about check in.
? experience ENRON has partnered with the Plaza Reception Desk Staff to create a less stressful check in process for your customers. Once they present their card, the Plaza Reception Desk Staff will welcome them and present them with a prepared experience ENRON name badge.
? experience ENRON has also created a new look for your meetings. Our new table tents, welcome folders, name badges, agendas and presentation templates all have the same look to maintain a consistent feel throughout the visit.
? All of this is to ensure that your guest has a unique and customized experience that will exceed their expectations and help you reach your business goals faster.
For more information on experience ENRON, visit our website at experience.Enron.com.
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed. |
Thanks, Janet. I'll make sure and pass on your "well wishes" . If you need
to reache me in the future, I'm available at 503/464-7927.
Lysa
From: Janet Butler/ENRON@enronXgate on 03/28/2001 04:25 PM CST
To: Mary Hain/HOU/ECT@ECT
cc:
Subject: RE: Summary of Commission Meeting
Thank you. Mary wrote and said she was leaving(I will remove her name and we
wish her well.
-----Original Message-----
From: Akin, Lysa On Behalf Of Hain, Mary
Sent: Wednesday, March 28, 2001 4:16 PM
To: Butler, Janet
Subject: Re: Summary of Commission Meeting
Mary Hain has resigned her position with Enron. Please remove her from all
your mail lists.
Thank you.
Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.
From: Janet Butler/ENRON@enronXgate on 03/28/2001 10:18 AM CST
To: Daniel Allegretti/NA/Enron@Enron, Nancy Bagot/OTS/Enron@ENRON, Martha
Benner/ENRON@enronXgate, Donna Bily/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lynn
Blair/ET&S/Enron@ENRON, Jack Boatman/FGT/Enron@ENRON, Rob
Bradley/Corp/Enron@ENRON, Theresa Branney/ENRON@enronXgate, Lorna
Brennan/ENRON@enronXgate, Tom Briggs/NA/Enron@Enron, Janet
Butler/ENRON@enronXgate, Bob Chandler/ET&S/Enron@ENRON, Alan
Comnes/PDX/ECT@ECT, Bill Cordes/ENRON@enronXgate, Shelley
Corman/ENRON@enronXgate, Christi Culwell/ENRON@enronXgate, Shonnie
Daniel/HOU/ECT@ECT, Mary Darveaux/ET&S/Enron@ENRON, Rick
Dietz/ET&S/Enron@ENRON, Dari Dornan/ET&S/Enron@ENRON, John
Dushinske/ENRON@enronXgate, Sharon Farrell/FGT/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Bret Fritch/ENRON@enronXgate, Donna
Fulton/Corp/Enron@ENRON, John Goodpasture/ENRON@enronXgate, Mary
Hain/HOU/ECT@ECT, Steven Harris/ET&S/Enron@ENRON, Joe
Hartsoe/Corp/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Robert
Hayes/FGT/Enron@ENRON, Rod Hayslett/ENRON@enronXgate, Bambi
Heckerman/NPNG/Enron@ENRON, Theresa Hess/ENRON@enronXgate, Robert
Hill/NPNG/Enron@ENRON, Staci Holtzman/ENRON@enronXgate, Tamara
Hopkins/ENRON@enronXgate, Stanley Horton/Corp/Enron@Enron, Lee
Huber/ET&S/Enron@ENRON, Martha Janousek/ENRON@enronXgate, Steven
January/ET&S/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Robert
Kilmer/ENRON@enronXgate, Frazier King/ENRON@enronXgate, Steve
Kirk/ENRON@enronXgate, Tim Kissner/ET&S/Enron@ENRON, Laura
Lantefield/ENRON@enronXgate, Linda L Lawrence/NA/Enron@Enron, Blair
Lichtenwalter/ENRON@enronXgate, Elizabeth Linnell/NA/Enron@Enron, Teb
Lokey/ENRON@enronXgate, Phil Lowry/OTS/Enron@ENRON, Susan J
Mara/NA/Enron@ENRON, Donna Martens/ENRON@enronXgate, JERRY
MARTIN/ENRON@enronxgate, Dorothy McCoppin/ENRON@enronXgate, Mike W
McGowan/ENRON@enronXgate, Mary Kay Miller/ET&S/Enron@ENRON, Michael P
Moran/ENRON@enronXgate, Sheila Nacey/ET&S/Enron@ENRON, Kimberly
Nelson/ENRON@enronXgate, Michel Nelson/ENRON@enronXgate, Ray
Neppl/NPNG/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Christi L
Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Ranelle
Paladino/ET&S/Enron@Enron, Maureen Palmer/HOU/EES@EES, Zelda
Paschal/ENRON@enronXgate, Geneva Patterson/NPNG/Enron@ENRON, Maria
Pavlou/ENRON@enronXgate, "Peebles, Eileen"
<[email protected]>@SMTP@enronXgate, Keith Petersen/ENRON@enronXgate,
Peggy Phillips/ENRON@enronXgate, Janet Place/NPNG/Enron@ENRON, Dan
Pribble/OTS/Enron@ENRON, Tony Pryor/ET&S/Enron@ENRON, Colleen
Raker/ENRON@enronXgate, Randy Rice/ENRON@enronXgate, Kathy
Ringblom/ENRON@enronXgate, Linda Robertson/NA/Enron@ENRON, James
Saunders/ENRON@enronXgate, Lisa Sawyer/ENRON@enronXgate, Donna
Scott/FGT/Enron@ENRON, Susan Scott/ENRON@enronXgate, John
Shafer/OTS/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Mike G
Smith/NA/Enron@Enron, Louis Soldano/ENRON@enronXgate, Lon
Stanton/ET&S/Enron@ENRON, James D Steffes/NA/Enron@Enron, James
Studebaker/FGT/Enron@ENRON, Jim Talcott/ENRON@enronXgate, Gina
Taylor/ENRON@enronXgate, Denis Tu/FGT/Enron@ENRON, Michael Van
Norden/Corp/Enron@ENRON, Stephen Veatch/ENRON@enronXgate, Donald
Vignaroli/ENRON@enronXgate, Jody Warner/NPNG/Enron@ENRON, Kimberly
Watson/ENRON@enronXgate, Julia White/ET&S/Enron@ENRON, Kim
Wilkie/ENRON@enronXgate, Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rob
Wilson/ENRON@enronXgate, Michele Winckowski/ENRON@enronXgate, Lisa
Yoho/NA/Enron@Enron
cc:
Subject: Summary of Commission Meeting
In the Commission meeting today:
GridFlorida,s application to form an RTO in the Florida peninsula was
approved with certain distinct directives. Namely, GridFlorida must improve
stakeholder participation; must report on further developments to ensure
obligations of reliability and interface functions according to Order 2000;
and must further define the rights of passive owners understanding that any
veto rights of passive owners will be subject to review by FERC. RT01-67
Southwest Power Pool,s application to form an hybrid RTO is rejected. SPP,s
application was limited to Entergy and SPP only and therefore, has not meant
the scope and regional configuration as directed by Order 2000. The required
report according to the Federal Power Act, Section 203 was not filed. The
order does permit SPP to change its merger affiliation to join an RTO and
approves the filing regarding the board selection process. RT01-34
FERC is issuing a Notice, RM99-2 inviting comments from the industry on
interregional coordination. A technical conference will be scheduled after
comments are received. FERC has been disappointed in the filings with regard
to the interregional participation; hence, the Notice.
CPUC v. El Paso, RP00-241. This order discusses CPUC,s complaint that El Paso
Merchant intentionally acquired more capacity than needed to manipulate price
spreads. The order dismisses denies summary judgment and dismisses the
complaint. FERC stated that El Paso Merchant has not violated any standards
of conduct. With respect to the issue of market power, the current record is
not considered to be complete. However, FERC will schedule a hearing to
complete and review the record. |
I believe it was $610. That was (2X$195) + (4X$55). The two I have are Sec 15 Row 18 Seats 1&2.
I meant season tix. But would probably also try to get OU as well. I guess I'm wrestling with the idea of getting them in my name, but I know the seat location would not be very good. I really would like to have 4 season ticket seats together. I have been getting these through you for 6 years now and don't have a problem with just continuing this arrangement. I also wouldn't be opposed to helping with the contribution to the Foundation if you think it would help. Let me know.
DG
-----Original Message-----
From: <[email protected]>@ENRON [mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]
Sent: Monday, August 27, 2001 2:24 PM
To: Giron, Darron C.
Subject: RE: Season tix are in
Darron - sorry - My hard drive crashed two weeks ago and I lost my records
of who did what and how much. Good news is I should get my restoration
back this week. Tell me what your OU seats were so I can pair them with
seats close by, or exchange them for four together.
I vaguely remember us talking about OU. Do you remember how much you paid
me?
When you say two additional tix for next season, do you mean season and OU
or just one or the other? The only way you can get more OU seats than your
season tix is if someone else in the group doesn't want to buy OU tix with
their season tix.
I'm glad they arrived so quickly.
We'll get it worked out
d
[email protected] on 08/27/2001 12:38:47 PM
To: David Plaisance/US/FAS/PwC@FAS
cc:
Subject: RE: Season tix are in
I just got the tickets. Thanks for sending them. I paid for 4 OU tickets,
could you only get me 2? Let me know. I also wanted to ask you about the
possibility of getting 2 additional tickets for next season. I know you
get quite a few each year, but don't know if you have extras available.
Thanks again.
DG
-----Original Message-----
From: <[email protected]>@ENRON
[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]
Sent: Wednesday, August 22, 2001 11:37 AM
To: Giron, Darron C.
Subject: RE: Season tix are in
OU tix are in!
We'll work out leaving the tix for you under the mat, unless you'd like
me
to fedex them to you. Let me know
d
[email protected] on 08/22/2001 10:42:07 AM
To: David Plaisance/US/FAS/PwC@FAS
cc:
Subject: RE: Season tix are in
It looks like we won't make it to Austin before the 1st. I'll probably
just ask you to leave the tix under your front door matt on the day of
the
NMSU game and we will stop by to pick them up. I will verify this with
you
next week. I can't believe the season is already upon us. Any word on
OU?
Thanks
DG
-----Original Message-----
From: <[email protected]>@ENRON
[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]
Sent: Monday, July 23, 2001 9:47 AM
To: Giron, Darron C.
Subject: RE: Season tix are in
Sorry I misspelled your name again. Just let me know when. They'll
be
here
d
[email protected] on 07/23/2001 09:37:06 AM
To: David Plaisance/FAS/Price Waterhouse@FAS
cc:
Subject: RE: Season tix are in
I may be in Austin later this summer. I'm in no hurry to get the
tickets.
If you will, please hang on to them and I'll advise at a later date.
Thanks.
DG
-----Original Message-----
From: <[email protected]>@ENRON
[mailto:IMCEANOTES-+3Cdavid+2Eplaisance+40us+2Epwcglobal+2Ecom+3E+40ENRON@ENRON.com]
Sent: Sunday, July 22, 2001 3:17 PM
To: [email protected]
Subject: Season tix are in
Darin - The season tickets are in; OU tickets will be mailed
later.
How
do
you want to pick them up? Any plans to be in Austin, soon?
Regards
David
512-278-1716 (o)
512-272-5009 (h)
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BUSINESS HIGHLIGHTS
Enron Producer One
Enron Producer One facilitates one-stop shopping for the producer,s
infrastructure needs. Through business relationships with Hanover
Measurement Services and Applied Terravision Systems, Enron Producer One will
offer and custom-configure a number of valuable production services and
pricing plans to reduce overhead and simplify back-office tasks. Initial
products offered are well connects, transportation, marketing, measurement
and accounting services. Enron Producer One is managed and supervised by
John Grass.
IN THE NEWS
CEO says Texas in good shape for electricity deregulation
DALLAS (AP) - Enron Corp.'s chief executive and president said Tuesday he
believes that Texas energy markets are in good shape as the state prepares
for deregulation.
Jeffrey Skilling told an audience of about 400 business people at a downtown
hotel that California "has given the term deregulation a terrible name."
Electric deregulation in Texas officially starts Jan. 1. "In Texas, I think
we've got a pretty good system," he said.
In San Francisco on Tuesday, the California Public Utilities Commission
unanimously approved electricity rate increases of up to 46 percent to try to
head off blackouts this summer by keeping the state's two biggest utilities
from going under. When California officials set up deregulation they allowed
the price of wholesale electricity to rise but capped the amount companies
could charge customers, Skilling said. SoCal Edison and Pacific Gas &
Electric say they have lost more than $13 billion since last summer because
they haven't been able to pass on the high cost of wholesale electricity.
Skilling said Texans are in a much better position and shouldn't worry that
their state's deregulation would be like the California experience.
"California, they just put together a crazy system,8 he said in his first
public comments since becoming the Houston-based company's chief executive
officer in February. "The markets in California are the most regulated
markets in North America today. And that's what is causing the problem."
03/27/2001 Associated Press Newswires Copyright 2001.
WELCOME
New Hires
EGM - Charles Crow, Nancy Johnson, Gregor Lehmiller
EIM - Darrell Aguilar, LaTrisha Allen, Wesley Wilder, Ronald Barnes
ENA - Brian Cruver, Craig Dean, Martha Kessler
EnronOnline STATISTICS
Below are the latest figures for EnronOnline as of March 16, 2001.
? Total Life to Date Transactions > 813,000
? Life to Date Notional Value of Transactions > $489 billion
NUGGETS & NOTES
Enron is hosting the New York Energy Risk Management Seminar at the St. Regis
Hotel in New York City on April 5, 2001. Topics include Power Outlook,
Natural Gas Outlook, Hedging Strategies and Weather Risk Management. The RSVP
deadline is March 30th, so please contact Laura Pena as soon as possible at
x3-5376. This is a great event for "new" as well as established customers.
There will be a cocktail reception immediately following the presentations.
NEWS FROM THE GLOBAL FLASH
Enron Reopens Rassau Power Station Plans
Enron Europe submitted an application to build a 1200MW combined cycle gas
turbine power station on the Rassau Industrial Estate at Ebbw Vale, Wales in
July 1998. In November 2000, the Government lifted its stricter power
consents policy, which placed restrictions on the development of new
gas-fired power stations, and Enron is now concluding the consultation
process for the application
As part of the process, updated environmental information has been submitted
to the Department of Trade and Industry and a team from Enron will be
presenting the plans to Blaenau Gwent Council on March 26. This will be
followed by a three-day public exhibition in the local community.
Enron expects to receive a decision later in the year.
European Economic Summit: Acceleration Directives
On March 23 and 24 the European Economic Council Summit will take place in
Stockholm. At
this summit the European Commission will present to the heads of the Member
States a legislative proposal for a Directive and a Regulation that the
Commission adopted on March 13 to speed up the completion of the internal
electricity and gas markets.
Enron issued a statement to the media on the evening of Wednesday 21st March
stating that it specifically endorses the following initiatives incorporated
in the text of the adopted proposal:
Legal unbundling of the transmission and distribution networks as a realistic
solution, ensuring the independence of transmission and distribution system
operators.
Mandatory appointment of independent regulators in each country with the
obligation to fix or approve transmission tariffs before they come into force.
The current timetable proposed by the Commission: market opening for
electricity in 2003 and for gas in 2004 (industrial, commercial and wholesale
customers); and for supplies to all consumers including households by 2005.
The setting of rules in the Regulation for how power transmission tariffs can
be charged for cross-border transactions and how congestion and capacity
allocation at borders within the EU should be managed by transmission system
operators.
Enron concludes that it is encouraged by the efforts of the Commission to
accelerate the European electricity and gas market opening and the
reinforcement of third party rights of access to transmission networks. The
Commission's approach of harmonizing both the timetable and the regulatory
framework deserves support from all Member States.
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries. It is intended for internal use only
and should not be disclosed. |
The current versions are all the way at the bottom.
---------------------- Forwarded by Mark - ECT Legal Taylor/HOU/ECT on
06/03/99 09:49 AM ---------------------------
Justin Boyd
05/27/99 11:01 AM
To: Mark - ECT Legal Taylor/HOU/ECT@ECT
cc:
Subject: Internet Trading - Internet Trading Access and Electronic Trading
Agreements
Mark,
Look forward to your views on the comments expressed by CC, as well as their
minor drafting changes. I have not as yet sent this Sullivan &
Cromwell....may be you would wish to do this as you see fit......
Look forward to seeing you soon in a week or so...
Justin
---------------------- Forwarded by Justin Boyd/LON/ECT on 27/05/99 17:02
---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 27/05/99
14:27
To: [email protected]
cc: [email protected], [email protected], [email protected],
[email protected], [email protected]
(bcc: Justin Boyd/LON/ECT)
Subject: Internet Trading - Internet Trading Access and Electronic Trading
Agreements
Further to our meeting yesterday, please find attached a copy of the
Internet Trading Access Agreement ("ITAA") and the Electronic Trading
Agreement ("ETA") marked up with my suggested changes from an English law
perspective. As I mentioned to you yesterday, these documents will also
need to be considered by the overseas lawyers to see whether there are any
overriding local laws which could impact on the use. The overseas lawyers
have copies of these agreements and will include this in their report.
I understand that it is envisaged that the ITAA will be signed off line and
the ETA will be posted on the Website. Each person authorised by a
counterparty with a password must "click through" the Agreement before
commencing trading. This will only be done on one occasion.
We discussed yesterday the risks associated with this approach, namely, that
a counterparty could claim that at the time of entering into the ITAA it was
not aware of the terms of the ETA and therefore, could not be bound by it.
It is clearly important to have certainty that the terms of the ETA are
enforceable as they contain important terms such as indemnities, limitations
of liability etc. Having said that, the view might be taken that by
entering into the ITAA all that has been achieved is that a counterparty
receives a password which enable the counterparty to put itself in a
position where it must consider the ETA before proceeding. Once the
counterparty accesses the Website and sees the ETA a second contract is made
and the ITAA and ETA must then be read together but only at the time that
the counterparty has clicked through the ETA. I suspect that this is the
approach that Sullivan & Cromwell had in mind. It is also worth bearing in
mind that a counterparty may ask for the ETA at the time of entering into
the ITAA or may be relunctant to click through the ETA until they have had
internal legal sign off. This may delay trading.
Nonetheless, I understand that you are keen to proceed with signing the ITAA
off line and the ETA on line and accordingly, the attached documents are
marked up with that structure in mind. As agreed yesterday, I have only
made changes to the document produced by Sullivan & Cromwell where I think
it is necessary for English law purposes or clarification. I have the
following brief comments on the changes I have made:
1. Parties: You will see that both documents are entered into by a
designated
Enron entity for itself and on behalf of all Enron group
undertakings. The reason
for this is that Transactions will actually be made between the
counterparty and
various different Enron entities. We therefore need to ensure that
such Transactions
with each of those Enron entities are governed by the terms of these
documents.
I note from your e-mail yesterday that it was suggested that we need
to list the affiliates
or have one entity enter into the Transactions. I think there may
be some confusion here.
This is not the case. I assume that the current Enron entities
which trade certain
commodities with certain counterparties will continue to do so on
the Website.
The Website will need to be set up in such a way as to achieve this
but I assume that this
causes no problem as each counterparty will see different pages on
the Website depending
on what password has been inserted. The documents now contemplate
this.
2. "Services": I have removed the references to Services as I am not
sure what this means.
I would have thought that these agreements need to govern the
counterparty's access and
utilization of the Website whether or not they actually carry out
any Transactions. Therefore,
I believe that where the Agreement had previously referred to
Services, it can now refer to
"access and utilization of" the Website.
3. Contract Formation: I have inserted a short paragraph in Clause 3
of the ETA which
provides that a Transaction will only be executed once Enron
generates a message of
confirmation of the sale and purchase to a Counterparty and that any
electronic records
of Enron will prevail. I note that Sullivan & Cromwell envisage a
document being attached
which explains this. This is also acceptable.
4. Data Protection: On reflection, it will be more appropriate for
relevant data protection
wording to be on the Website itself rather than in the ITAA or ETA.
This is because the
data protection concerns revolve around data subjects i.e. living
individuals, rather than
corporate entities such as the Counterparty. Before providing
appropriate wording for
this, could you please let me know what information will be
collected by you concerning
living individuals either intentionally or unintentionally. For
example, when a password is
entered will you be able to identify a living individual by this or
can you intentionally or
unintentionally obtain that individual's e-mail address or other
information on them once
they have entered the Site. You will need to check this with your
technical people.
Once you have had a chance to review this perhaps you could let me have your
comments.
I have simultaneously sent this e-mail to my financial regulatory colleagues
for their review. They may have further comments which we will send onto
you as a matter of urgency.
Kind regards
Andrew Wilkinson
<<EnronAgC.doc>> <<EnronAgMU.rtf>> <<TradingAgc.doc>>
<<TradingAgMU.rtf>>
- EnronAgC.doc
- EnronAgMU.rtf
- TradingAgc.doc
- TradingAgMU.rtf |
Drew, I think your last question is the one most critical to us at this point. The marketers can go out and start selling the project but are having a hard time defining how the capacity will be allocated. I left a message yesterday for Mary K. regarding these same issues. Thanks.
Drew Fossum
02/14/2001 04:38 PM
To: Susan Scott/ET&S/Enron@ENRON, [email protected], Mary Kay Miller/ET&S/Enron@ENRON, Keith Petersen/Enron@EnronXGate
cc: Shelley Corman/Enron@EnronXGate, Maria Pavlou/Enron@EnronXGate, Steven Harris/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Lorraine Lindberg/ET&S/Enron@ENRON
Subject: TW Expansion
There were several questions left for legal/regulatory to work on at the close of our meeting today. I'll try to restate them, and add my initial thoughts, so we can all be sure to focus on the correct problems.
Q 1. Can TW use "negotiated rate" agreements for its new 150 mm/d expansion?
A. Yes. Independence, Guardian, and other new pipeline projects were certificated on the basis of negotiated rate contracts. The only restriction is that we need to always offer cost-based recourse rate service as an alternative to negotiated rates. We hope to use negotiated rate agreements for the entire 150 mm of capacity, but we won't know until the contracts are executed how much of it will be negotiated rate contracts and how much of it will be under recourse rate contracts. I guess that means that in the cert. app., we just tell the commission that we will be 100% at risk and that given the huge interest in the open season, we have no doubts about our ability to sell the full 150. We should also tell the Commission we expect to sell the capacity using negotiated rate contracts or recourse rate contracts or a combination of both.
Q 2. Can we give prospective customers a "cafeteria style" menu of options (to steal Jeff's term), like the following:
1. 5 yr. neg. rate deal at a locked in $.60 plus fuel and surcharges (or whatever number we decide on)
2. 10 y. neg. rate deal at a locked in $.45 plus fuel and surcharges
3. 15 yr. neg rate deal at a locked in $.35 blah blah
4 . 15 yr cost based recourse rate plus fuel and surcharges (importantly this option is not locked in and will float with TW's actual rate levels and fuel retainage percentages)
A. I think the answer here is "yes." Whatever options we come up with for 1, 2, and 3, we will always have to offer 4 as well. Susan and Steve Stojic: please confirm that we have the right to define specific negotiated rate options and stick to them. Otherwise, this negotiated rate approach could get completely unstructured such that we end up with some guys taking our specific options and other guys custom tailoring weird variations (like a 7 yr, 231 day contract at $.51764, for example). I'm not sure that would be a bad thing, but we need to think about it. We need to be sure we can tell a customer "no" and make it stick if he tries to mix and match by asking for the 5 yr term and the $.35 rate, for example. I think we can lay out options of our choosing and then enforce a "no substitutions" policy (this is sticking with the "cafeteria" theme) but we need to be sure.
Q.3. If we can use the "cafeteria options" approach, how much flexibility do we have in structuring the options?
A: This one is hard. We need to be sure that the price and term we choose to offer for options 1-3 is solely within our discretion. We don't want to be second guessed by FERC as to whether we should have offered option 1 at $.58 instead of $.60. Susan and Steve: if you guys confirm that we have discretion in how to structure our negotiated rate options, does that mean we can slant the economics of the negotiated rate options so they are a better deal than the recourse option (for most shippers)? I.e., could we deliberately incent shippers to sign on for the short term deals--i.e., by offering options 1-3 at $.55, $.45 and $.40 instead of the $.60, $.45, and $.35 shown above. I suspect that is what Guardian and the other pipes did to obtain 100% subscription under neg. rate deals.
Q.4. How do we allocate capacity to customers if demand exceeds supply???
A. Ideally, we'd be able to allocate the 150 to the guys who want to buy it the way we'd prefer to sell it. Under the above example, assuming Stan, Danny and Steve decide short term deals are better, what if we get 100 mm/d of offers on each of the 4 rate/term options described above. That's 400 mm/d of demand for a 150 mm/d project. Can we sell 100 to the guys who want option 1 ($.60/5 yrs) and the remaining 50 to the 10 yr/$.45 guys? That really hoses the recourse bidders. Do we have to cover the recourse demand first and then allocate the remaining capacity pro rata to everyone else? Pro rata to everyone? Under the rule that negotiated rate bids have to be deemed to be at max rate for purposes of allocation, pro rata to everyone may be the right answer. Or at least its the answer until we've filled the recourse rate guys' orders, then we can give the remaining capacity to the neg. rate guys whose bids we value most highly (using some objective nondiscriminatory calculation of course). Ugh.
Susan and Steve--please take a crack at questions 2-4. I think 1 is answered already. I haven't done any research yet, so maybe these questions are easier than they currently seem to me. Get me and MKM on the phone at your convenience to discuss. We've gotta move quick so the marketers can get out and sell this stuff. DF |
FYI
-----Original Message-----
From: Kingerski, Harry
Sent: Monday, September 24, 2001 9:18 AM
To: Shapiro, Richard
Cc: Keene, Patrick
Subject: FW: FW: ERCOT Residential/Industrial Service Mix Requirements
... some recent history. I had left the message with Rogers Herndon.
-----Original Message-----
From: Keller, James
Sent: Thursday, August 23, 2001 11:12 AM
To: Castano, Marianne
Cc: Kingerski, Harry; Ogenyi, Gloria
Subject: Re: FW: ERCOT Residential/Industrial Service Mix Requirements
You are correct! This is not a new issue, but it seems to resurface on a regular basis. The issue has been pointed out regularly (the first time in connection with the license and regularly thereafter) and each time the business has said not to worry, if they can't cut a deal with New Power they will just pay the $1/MW. EES has assumed it will pay the $1/MW since day one!
Jim
Marianne Castano
08/23/2001 08:33 AM
To: Harry Kingerski/ENRON@enronXgate @ ENRON, Gloria Ogenyi/Enron@EnronXGate
cc: James E Keller/HOU/EES@EES
Subject: Re: FW: ERCOT Residential/Industrial Service Mix Requirements
Harry and Gloria:
Jim Keller and I have indeed dealt with this issue in the past (it actually came up at the time we were applying for our TX marketer license).
It is my understanding, and Jim, please comment if my information is "stale", that we were going to choose the option set forth in Sec. 39.352(g)(3), which allows us to make a payment into the System Benefit Fund. This approach was discussed with Dennis Benevides, and then, I believe, with Don Black, and they were OK with our pursuing this course, in lieu of having TNPC provide service to residentials on our behalf.
Please call me if you have any questions: 814-835-0793.
Marianne
From: Harry Kingerski/ENRON@enronXgate on 08/22/2001 04:06 PM
To: Marianne Castano/HOU/EES@EES
cc:
Subject: FW: ERCOT Residential/Industrial Service Mix Requirements
Marianne - per my voicemail.
-----Original Message-----
From: Ogenyi, Gloria
Sent: Wednesday, August 22, 2001 12:06 PM
To: Hamb, Edward
Cc: Blachman, Jeremy; Gahn, Scott; Letke, Eric; Wood, James; Presto, Kevin M.; Curry, Mike; Wagner, Joseph; Misra, Narsimha; Dietrich, Janet; Collins, Patricia; Keene, Patrick; Kingerski, Harry; Steffes, James D.; Ryall, Jean; Shapiro, Richard; Herndon, Rogers; Nicolay, Christi L.
Subject: ERCOT Residential/Industrial Service Mix Requirements
Ed,
Residential Obligation
Section 39.352(g) of Senate Bill 7 provides that for any REP serving an aggregate load in excess of 300 MW, 5% of the load must consist of residential customers. A REP can fulfil this requirement by:
1. Demonstrating that it directly serves residential load amounting to 5% of its total load
2. That another REP serves the residential load on its behalf, or
3. It pays 1 dollar per MWH of required 5% load into the System Benefit Fund.
EES can fulfil its obligation by entering into an agreement with New Power to serve residential load on its behalf, or can pay the 1$ per MWH penalty.
There is an annual compliance reporting requirement and EES can demonstrate compliance if it has an agreement with New Power.
EES Contract,
For price to beat customers, the utilities have by Commission rule, the obligation to allow customers to come and go without restraint for the 5 year period conmmencing 1/2/02. The Commission concern may be that Enron will abuse this provision by gaming the system. The Enron contracts as currently written are within the rules as approved by the Commission. Until the utilities move to amend the relevant rules, the Commission can only exercise its displeasure by appropriate oversight and enforcement to determine what conduct amounts to abuse and gaming. I think it will ultimately be a question of degree and pattern of switching. The onus will be on the affiliated REPs to prove abuse and gaming. Fundamentally, it is in the best interest of the market to allow customers to come and go. Customer mobility is the best customer protection in a competitive market. Besides, a restraint on customer mobility could have a chilling effect on competition as it will increase customer inertia. The Commission will carefully weigh any course of action to insure that they achieve a reasonable balance. For larger than 1MW customers, they can agree to long term contracts and a restriction on their ability to come and go.
Please call with any questions,
Gloria
-----Original Message-----
From: Hamb, Edward
Sent: Wednesday, August 22, 2001 10:32 AM
To: Ogenyi, Gloria
Subject: Re: Update: Enron Direct Telesales Initiative in NY, NJ and TX
To: [email protected]
cc:
Subject: ERCOT Residential/Industrial Service Mix Requirements
get on this. we need to discuss
---------------------- Forwarded by James M Wood/HOU/EES on 08/22/2001 10:20 AM ---------------------------
From: Rogers Herndon/ENRON@enronXgate on 08/22/2001 09:27 AM
To: Jeremy Blachman/HOU/EES@EES, Scott Gahn/HOU/EES@EES, Eric Letke/HOU/EES@EES, James M Wood/HOU/EES@EES
cc: Kevin M Presto/ENRON@enronXgate, Mike Curry/ENRON@enronXgate, Joseph Wagner/ENRON@enronXgate, Narsimha Misra/ENRON@enronXgate, Janet R Dietrich/HOU/EES@EES
Subject: ERCOT Residential/Industrial Service Mix Requirements
Everyone -
I was just informed by EPMI that there may be a requirement for Retail Energy Providers in ERCOT to serve a certain mix of residential rate class/industrial rate class customers once a certain industrial threshold is crossed (300 Mw of industrial rate class load).
EWS has not set it itself up to monitor such requirements. Therefore, I cannot comment on the accuracy or details of this requirement. However, it is something we definitely need to look into. In addition, we (EPMI/EWS) are getting feedback from the TX PUC that they are not pleased with how they see the pilot and the market structure unfolding. Specifically, they are not pleased with retail energy providers' contracts that contemplate the right to switch between direct access and tariff (and visa-versa). We will monitor and need to get more clarity on how the PUC intends to address their displeasure.
On the residential requirement front, someone needs to address this. Specifically, is this true. If so, what rate classes are considered industrial vs. commercial? Is there a similar requirement for commercial load? Is TI considered industrial? Do we already have industrial customers in our portfolio? Who in EES tracks and monitors issues like these as we enter markets?
Mike Curry is in the process of tracking this info down from an EPMI perspective as they are focusing on more of the pure, large industrial customers. We will share any information Mike receives with the EES group.
RH
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John, we are working out some issues with the station 1 permit and the EPA
permits for 3 and 4. Briefly here they are.
First issue, that we did not anticipate from the ADEQ. It applies to hours
of operation for the generator. The ADEQ has restricted hours of operation
because we are close to the PSD levels at the facility. In talking to
Shdeish, the ADEQ protects itself and applies a 10% safety factor on all
applications that approach PSD to ensure that the PSD levels are not
triggered. This is there policy not regulation. What is ironic is that
they accepted our calculations for the netting, but did not indicate that
they would apply any safety factor for their comfort. Im concerned about the
time frame to iron out this issue and the construction start date. I need
some guidance. Do we want to spend time fighting this, not knowing how long
it will take to resolve or do we bite the bullet and put on a catlytic
converter for the generator and have unlimited operating hours? In speaking
with Shudeish, I got the impressions that when an application approaches the
PSD limit, they want to see the applicant apply CEMS or some kind of control
technology just to be sure that they stay under the 250 ton limit. I know
time is of the essence.
Second issue. The EPA has given us a pretty good permit for stations 3 and
4, but have restircted us to ppmvd values for NOx and CO, instead of lb./hr
or ton/yr. The values that they have given us in the permit are OK (25 ppmvd
for NOx and CO) at base load operation. GE will guarantee this. However, at
lower tempertures and at reduced loads of 60%, the manufactures numbers are
40 ppmvd for NOx and CO. We cant live with this. In our application, we
stated that we would be operating at low loads for 20% of the time and we
applied a 15% safety factor for the higher NOx and CO levels and presented
this in lb.hr and tons/yr. This would have covered us, but because the
permits limits are in ppmvd, we would exceed these limits during low loads
and low temps. I have requested from Roger that we would accept permit
conditions that would allow us 40 ppmvd during low temps and low loads with
with requiring us to do associated recordkeeping and Roger said that he would
bring this before his management. Ill keep you apprised of this issue.
---------------------- Forwarded by Larry Campbell/ET&S/Enron on 10/10/2001
08:17 AM ---------------------------
From: John Shafer/ENRON@enronXgate on 10/09/2001 10:43 PM CDT
To: Larry Campbell/ET&S/Enron@ENRON, Ruth Jensen/ENRON@enronXgate
cc: William Kendrick/ENRON@enronXgate
Subject: RE: Staions 3 and 4 air permit comments to EPA
Larry,
Please also keep Jerry D. Martin in the loop on progress with the permits.;
Thanks, John
-----Original Message-----
From: Campbell, Larry
Sent: Tue 10/9/2001 4:48 PM
To: Jensen, Ruth
Cc: Kendrick, William; Shafer, John
Subject: RE: Staions 3 and 4 air permit comments to EPA
this is what Im trying for.; The permits dont hold us to a mass rate of
emissions, just ppmvd.; We covered ourselves when we presented emisisons
rates of t/yr in the application, but the EPA came back with NSPS limits,
which of course hurt us when we operate at loads of less than 64%.; We can
either cave in to their NSPS limits and when we get under low load condtions,
just do a bunch of recycling which wastes gas, or we can spend some valuable
time trying to get the EPA to give us emission limitations; in lb/hr or
t/yr.; Im discussing this with the EPA permit engineer.;; He is checking with
his management on this issue.; Ill keep you apprised.;;
From:;; Ruth Jensen/ENRON@enronXgate on 10/09/2001 04:36 PM CDT
To:;;;; Larry Campbell/ET&S/Enron@ENRON
cc:;;;; William Kendrick/ENRON@enronXgate
Subject:;;;;;;; RE: Staions 3 and 4 air permit comments to EPA
I agree with your comments.; Can't we get a lb/hr limit (based on the
netting calculations) that we can live with?; We're only required to have a
ppm limit that matches NSPS requirements, and that value would be a lot
greater than 25 ppmv.
Ruth
;-----Original Message-----
From: ; Campbell, Larry;
Sent:;; Tuesday, October 09, 2001 3:55 PM
To:;;;; Jensen, Ruth; Kendrick, William; [email protected]
Subject:;;;;;;; Staions 3 and 4 air permit comments to EPA
Jon and Ruth, presented below are the comments to the air perimts at 3 and
4.; Please review for clairty and content.; I have spoken to Roger Kohn about
all of these issues and the only one which may be a problem is with No. 2.;
He is checking on what the EPA can do about this.; I have spoken to Arnold
Eisenstein about what we can do with the strict 25 ppmvd requriement for NOx
and CO and he has said that we can hold to the 25 ppm value by doing some
major gas recycling.; This is a fuel waste and costly.; Anyway, depending
upon how long this issue delays the issuance of the permit will undoubtably
determine whether we give in to the 25 ppmvd or hold out for 40 ppmvd.; Id
like your comments asap.
;;;;;;; ;;;;;;;; 1.;;;;; The responsible official name change to; Danny
Pribble.
;;;;;;;;;;;;;;;;;;;;;;;; 2..;;; The draft permit limits NOx and CO emissions
to 25 ppmv at 15% O2, based on a 3-hour average, except during periods of
startup; ;;;;;;; and shutdown.; At 60F and above the GE data indicates that
these rates are achievable under all operating conditions.; However, GE
;;;; ;;;;;;; data indicates that NOx and CO may be as high as 40 ppmv during
low-load conditions of 60%and lower.
;;;;;;; The permit application represented turbine operations at base load
80% of the time with reduced load operations (64% load) occurring ;; no more
than 20% of the time.; The potential to emit calculations presented the
emissions in the application in units of lb.hr and ton/yr. ;;;; These values
were accepted by the EPA for the netting analysis, and; took were taken into
account by the EPA (See EPA Statement ;;;;;;; of Basis document).; Because
the permit conditions hold us to ppmvd values and not lb/yr or ton/year
values, Transwestern is ;; ;;;;;;; concerned that under low load conditions
of less than 60%, the emissions of NOx and CO would be 40 ppmvd.;
Transwestern is ;;;; requesting that; a provision be made in the permit
conditions that; emissions of NOx and CO be held to 40 ppmvd during the 20 %
of ;;;; the time that the turbines operating conditions is less than or equal
to 60%.
3.;;;;; The word "Catepillar" is mispelled throughout the permit.
4.;;;;; Permit conditions for sulfur testing in the fuel gas requires
Transwestern to use methodologies (wet chemistry technology) that are
not;;; ;;;; normally used to monitor and measure sulfur in the natural gas.;
Transwestern has received approval from the EPA for other custom ;;;;; fuel
monitoring schedules to use; "GPA Standard 2377" (length of stain tube) or
gas chromatography as the proposed methodology; to ;;;; monitor sulfur in the
natural gas.
;;;;;;;; |
no-just a real man
-----Original Message-----
From: Evans, Ted
Sent: Monday, November 19, 2001 10:07 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
missed it - you must think i am a perve
how is the new floor
-----Original Message-----
From: Tholt, Jane M.
Sent: Monday, November 19, 2001 10:06 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
Did you watch the Victoria's Secret Fashion Show last week
-----Original Message-----
From: Evans, Ted
Sent: Friday, November 16, 2001 7:27 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
i thought felicity was supposed to be a good girl??
-----Original Message-----
From: Tholt, Jane M.
Sent: Thursday, November 15, 2001 8:41 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
I missed half of it but it was pretty good. Ben found out thatDFelicity cheated on him
-----Original Message-----
From: Evans, Ted
Sent: Thursday, November 15, 2001 8:04 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
how was felicity??
-----Original Message-----
From: Tholt, Jane M.
Sent: Wednesday, November 14, 2001 10:27 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
probably
-----Original Message-----
From: Evans, Ted
Sent: Wednesday, November 14, 2001 9:51 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
you would be so bored
-----Original Message-----
From: Tholt, Jane M.
Sent: Wednesday, November 14, 2001 9:39 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
Lucky for me that retirement is also an option
-----Original Message-----
From: Evans, Ted
Sent: Wednesday, November 14, 2001 9:25 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
so - are you going to sign on with reliant or eprime or cinergy or who??
-----Original Message-----
From: Tholt, Jane M.
Sent: Wednesday, November 14, 2001 9:06 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
possibly-in my old age
-----Original Message-----
From: Evans, Ted
Sent: Wednesday, November 14, 2001 7:42 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
a little fiesty this morning??
-----Original Message-----
From: Tholt, Jane M.
Sent: Wednesday, November 14, 2001 7:38 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
It was really good. Next wek you can watch Jennfer Lopez-I bet you can watch her bits and pieces.
-----Original Message-----
From: Evans, Ted
Sent: Wednesday, November 14, 2001 7:32 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
bits and pieces - you?
-----Original Message-----
From: Tholt, Jane M.
Sent: Wednesday, November 14, 2001 7:00 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
Did you watch Michael Jackson yesterday?
-----Original Message-----
From: Evans, Ted
Sent: Tuesday, November 13, 2001 11:41 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
um yeh - - me too, can i fit in your suitcase??
-----Original Message-----
From: Tholt, Jane M.
Sent: Tuesday, November 13, 2001 10:43 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
My resume is finished and the job offers are pooring in
-----Original Message-----
From: Evans, Ted
Sent: Tuesday, November 13, 2001 10:26 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
no overlap in EES - have you written yours, or are you just going to retire...
ha ha
-----Original Message-----
From: Tholt, Jane M.
Sent: Tuesday, November 13, 2001 10:18 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
you should be working on your resume
-----Original Message-----
From: Evans, Ted
Sent: Tuesday, November 13, 2001 9:57 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
actually forced myself to read last night - trying to get smart
-----Original Message-----
From: Tholt, Jane M.
Sent: Tuesday, November 13, 2001 9:55 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
They have some cute guy lawyers this year-but I bet you probably watch that manly Monday night Football.
-----Original Message-----
From: Evans, Ted
Sent: Tuesday, November 13, 2001 9:55 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
bits and pieces - never really got into Ally
i assume you did..
-----Original Message-----
From: Tholt, Jane M.
Sent: Tuesday, November 13, 2001 9:53 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
Did you watch Ally last night?
-----Original Message-----
From: Evans, Ted
Sent: Tuesday, November 13, 2001 9:50 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
such a tough life
-----Original Message-----
From: Tholt, Jane M.
Sent: Tuesday, November 13, 2001 9:49 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
I saw the tv advertisement last night for Temptation Island for Thursday. I think it may conflict with Will and Grace. Could be a tough night.
-----Original Message-----
From: Evans, Ted
Sent: Monday, November 12, 2001 4:00 PM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
it looks to be on Thursdays at 8
http://www.fox.com/temptation2/home.htm
-----Original Message-----
From: Tholt, Jane M.
Sent: Monday, November 12, 2001 3:45 PM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
I was looking in the TV guide and did not see where it is on this week let me know if they changed the date and time.
-----Original Message-----
From: Evans, Ted
Sent: Monday, November 12, 2001 11:49 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
um.....no....sorry - i guess he is why you are watching?
aren't there good looking boys on the island?
-----Original Message-----
From: Tholt, Jane M.
Sent: Monday, November 12, 2001 11:20 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
Have you seen Ben on Felicity?
-----Original Message-----
From: Evans, Ted
Sent: Monday, November 12, 2001 11:01 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
i don't understand how you put Felicity on the same level at TI2...
-----Original Message-----
From: Tholt, Jane M.
Sent: Monday, November 12, 2001 10:45 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
I am a desperate person for entertainment-what can I say.
-----Original Message-----
From: Evans, Ted
Sent: Monday, November 12, 2001 10:35 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
that is horrible - i am embarrassed for you...
-----Original Message-----
From: Tholt, Jane M.
Sent: Monday, November 12, 2001 10:31 AM
To: Evans, Ted
Subject: RE: How good is Temptation Island 2
it's on the sasme night as Felicity
-----Original Message-----
From: Evans, Ted
Sent: Monday, November 12, 2001 10:30 AM
To: Tholt, Jane M.
Subject: RE: How good is Temptation Island 2
that's no fun
-----Original Message-----
From: Tholt, Jane M.
Sent: Monday, November 12, 2001 10:27 AM
To: Evans, Ted
Subject: FW: How good is Temptation Island 2
-----Original Message-----
From: Evans, Ted
Sent: Friday, November 09, 2001 7:46 AM
To: Tholt, Jane M.
Subject: How good is Temptation Island 2
I'm not sure I'm going to watch it. None of the people really interest me |
To close the loop on this, I think Lori should review Bob's findings and
comment on same once she returns from vacation. SWD
"Baird, Bob" <[email protected]>
06/30/00 04:10 PM
To: "'Horton, Stan'" <[email protected]>
cc: Steve Duffy/Houston/Eott@Eott, "Pena, Carlos" <[email protected]>
Subject: Available Cash for the Fourth Quarter
CONFIDENTIAL/ATTORNEY-CLIENT PRIVILEGE
Stan:
I have given considerable thought to the issue you raised in the
meeting on June 15 -- that is, whether the amount of Available Cash for the
fourth quarter of 1999 could be recomputed so that the issuance of APIs for
that quarter could be rescinded. My delay in getting back to you was
occasioned by the fact that I went on vacation shortly after that meeting
and just returned to work yesterday.
The reason the question is worth exploring is this --- Enron Corp.
has certain rights under its support agreement with EOTT, and it is entitled
to exercise those rights notwithstanding the fact that it also has a
fiduciary duty as a controlling shareholder. I approached the question
solely as counsel for Enron and from the standpoint of evaluating the merits
of any claim that Enron could make that the API issuance should be
rescinded. From that standpoint it is no different from asking: if EOTT
were dealing with an unrelated third party would that third party have a
claim for rescission? Unfortunately, based on the facts as I understand
them, I have been unable to formulate a claim that has sufficient merit to
be worthy of assertion, as explained below.
The computation of Available Cash for any quarter is based on (a)
cash receipts and disbursements and (b) increases or reductions in cash
reserves, which the General Partner "determines in its reasonable discretion
to be necessary or appropriate." Thus, the question is whether there is a
basis for recomputing the cash receipts or the reserves for the fourth
quarter.
Cash Receipts. I would think there may well be a valid claim in a
situation in which EOTT made a mistake in its calculations of cash receipts
or disbursements, even if that mistake was discovered several months later.
It is my understanding, however, that the scrub-down of the books for the
fourth quarter turned up only immaterial discrepancies from the amounts that
had been calculated for the fourth quarter in mid-February, when the
distribution of Available Cash for the quarter was made. Thus, I am aware
of no meritorious argument that Enron is entitled to rescission because of
EOTT's mistakes in calculating its cash receipts or disbursements for the
quarter. That being the case, the only other issue that is worth focusing
on is the reserves.
Reserves. The only component of the reserves that I am aware of
that is large enough to bear scrutiny is the theft-related insurance item.
There were no cash receipts from the insurance prior to the distribution, so
any claim for rescission must focus on the amount of reserves for the fourth
quarter. If the level of reserves was determined in a manner that was not
consistent with the "reasonable discretion" standard set forth in the
partnership agreement, Enron would have a valid claim for rescission.
Presumably had the General Partner known in mid-February that insurance
would cover the $3 million loss (other than the $500,000 deductible), it
would have reduced reserves by $2.5 million (either by setting aside less in
reserves or releasing reserves established in prior quarters), which would
have produced $2.5 million of additional Available Cash. In that case there
would not have been any APIs required. Is there a basis for a claim that
the General Partner did not use "reasonable discretion" when it established
the level of reserves? Based on the facts as I understand them, I have been
unable to come up with a good argument that the General Partner was not
using its "reasonable discretion" in making the determination it made. It
is my understanding that, although at the time the General Partner was aware
that it had theft insurance, it did not know whether the insurance would
cover the entire $3 million loss or merely the $800,000 in fair market value
of the product at the time of the theft (less the $500,000 deductible). I
also understand that the insurance carrier had not admitted liability at
that time, so there was some question whether there would be any insurance
proceeds. Thus, it seems it would be very difficult to establish that the
General Partner did not use its reasonable discretion.
The partnership agreement makes it clear that the amount of
Available Cash is to be computed based on (a) actual receipts and
disbursements during the quarter and (b) distributions from the operating
partnerships and reserves established, or changes in reserves, that in each
case occur prior to the "date on which the Partnership makes its
distribution of Available Cash in respect of such quarter." Thus, the
partnership agreement leaves no room for going back and redoing reserves
based on events that occur after the distribution for the quarter.
Please call if you have any questions about this analysis or if you
think I do not have my facts straight or need additional facts. You can
reach me at 713/758-2414.
Robert S. Baird
Vinson & Elkins L.L.P.
One American Center
600 Congress Avenue
Austin, Texas 78701-3200
Office phone: 512/495-8451
Fax: 512/236-3210
Home phone: 512/347-8065
Car phone: 512/627-8065
Pager: 1-888-487-2651
Voice mail: 512/495-8696, x8451
Internet: [email protected] |
we can do two groups of 3
-----Original Message-----
From: "siva66" <[email protected]>@ENRON [mailto:IMCEANOTES-+22siva66+22+20+3Csiva66+40mail+2Eev1+2Enet+3E+40ENRON@ENRON.com]
Sent: Friday, September 14, 2001 12:02 PM
To: [email protected]; Quigley, Dutch; [email protected]; [email protected]; [email protected]
Subject: RE:
don't you guys think we need at least a 7th for golf so they will
not make us pair up with someone else? my friend christian
cancelled when he found out kevin was going to be there. thanks
alot kevin!!!
ricardo
---------- Original Message ----------------------------------
From: "Mark Molnar" <[email protected]>
Date: Fri, 14 Sep 2001 10:37:23 -0500
>Jerry is a no for Sat.
>
>>>> "siva66" <[email protected]> 09/14/01 10:30AM >>>
>i hope so because we only have 6 so far: kevin, mark, dutch,
>richard, ernie, and myself.
>
>
>---------- Original Message ----------------------------------
>From: "Mark Molnar" <[email protected]>
>Date: Fri, 14 Sep 2001 09:28:40 -0500
>
>>I'm glad someone else is starting to see what I've had to put up
>with all of these years. You should have heard his response as
to
>why he couldn't pay the rent or the phone bill or go grocery
>shopping for the month. Oh wait a minute that was Rob, not
>Jerry. I always get the two mixed up. Once again I will
>ask.....Jerry are you going to go golfing manana?
>>
>>>>> <[email protected]> 09/14/01 08:10AM >>>
>>jerry is practicing his law talk
>>did not answer the question but gave a 500 word response
>>
>> -----Original Message-----
>> From: "Mark Molnar" <[email protected]>@ENRON
>> [mailto:IMCEANOTES-
>+22Mark+20Molnar+22+20+3CMarkM+40cajunusa+2Ecom+3E+40ENRON@ENRON.c
o
>m]
>>
>>
>> Sent: Friday, September 14, 2001 8:00 AM
>> To: [email protected]; Quigley, Dutch;
>> [email protected];
>> [email protected]; [email protected];
>[email protected];
>> [email protected]
>> Cc: [email protected]
>> Subject: RE:
>>
>> Three
>>
>> >>> "Martinez, Ernesto Jr" <[email protected]> 09/13/01
>06:30PM >>>
>> WHat is the over/under on the number of times Jerry throws
his
>club(s)?
>>
>> -----Original Message-----
>> From: Quigley, Dutch [mailto:[email protected]]
>> Sent: Thursday, September 13, 2001 5:45 PM
>> To: [email protected]@ENRON; Martinez, Ernesto Jr;
>[email protected];
>> [email protected]; [email protected]; [email protected];
>> [email protected]
>> Cc: [email protected]
>> Subject: RE:
>>
>>
>> ok that is fine , I will give mark jerry's' balls , I just
>want a chance
>> to kick your ass at golf buddy
>>
>> I am still waiting for Nov. 2 .................then I can
kick
>the ass
>> of a golfing lawyer
>>
>> dq
>>
>> > -----Original Message-----
>> > From: [email protected]@ENRON
>> > [mailto:[email protected]]
>> > Sent: Thursday, September 13, 2001 5:28 PM
>> > To: [email protected]; [email protected];
>[email protected];
>> > [email protected]; [email protected]; [email protected];
>Quigley, Dutch
>> > Cc: [email protected]
>> > Subject: RE:
>> >
>> > Alright, I'll throw my two cents in. Dutch is right, Ricky
>is right,
>> > Ernie is right, as is Kevin and everyone else who
>responded. We are
>> > an extremely fortunate bunch. We tend to be
extraordinarily
>resilient
>> > and forgiving. I took a bunch of flak over the past three
>years for
>> > my frequent absences, however, they were not absences
>because of a
>> > flippant attitude. Law school took its toll as did
>accommodating Jo's
>> > set of friends. My time had to be split many ways and it
>can be
>> > difficult to juggle everything as I am sure you are all
>aware. But,
>> > mind you, I was not absent because I didn't care, or found
>something
>> > better to do. It was never because I didn't want to. At
>the risk of
>> > this becoming even more of a love in, you guys should know,
>as this is
>> > apparently the only opportunity we've taken, you are my
>friends. And
>> > I would like to keep it that way. I have to go now. Mark
>says that
>> > that the keyboard placement blocks his access to my balls.
>> >
>> > Jerry
>>
>>
>>
>******************************************************************
*
>***
>> This e-mail is the property of Enron Corp. and/or its
relevant
>affiliate
>> and
>> may contain confidential and privileged material for the sole
>use of the
>> intended recipient (s). Any review, use, distribution or
>disclosure by
>> others is strictly prohibited. If you are not the intended
>recipient (or
>> authorized to receive for the recipient), please contact the
>sender or
>> reply
>> to Enron Corp. at [email protected]
and
>delete
>> all
>> copies of the message. This e-mail (and any attachments
>hereto) are not
>> intended to be an offer (or an acceptance) and do not create
>or evidence
>> a
>> binding and enforceable contract between Enron Corp. (or any
>of its
>> affiliates) and the intended recipient or any other party,
and
>may not
>> be
>> relied on by anyone as the basis of a contract by estoppel or
>otherwise.
>> Thank you.
>>
>******************************************************************
*
>***
>>
>>
>>
>
>
>________________________________________________________________
>Sent via the EV1 webmail system at mail.ev1.net
>
>
>
>
>
________________________________________________________________
Sent via the EV1 webmail system at mail.ev1.net |
I think the "Wes" we were looking for the other day may be Wes Colwell who I
think may be in charge of accounting for ENA. If not, maybe somebody on this
list will know something about FAS133.
----- Forwarded by Mark Taylor/HOU/ECT on 02/21/2001 07:21 PM -----
Rick Causey@ENRON
Sent by: Enron Announcements@ENRON
02/21/2001 02:02 AM
To: All Enron Worldwide
cc:
Subject: Global Accounting Promotions
Please join me and the Global Accounting leadership team in congratulating
the following individuals on their promotions to:
To Managing Director
Sally Beck (EWN)
Fernley Dyson (EEL)
To Vice President
Beth Apollo (ENW)
Janine Juggins (EEL Tax)
Phillip Lord (EBS)
Laura Scott (ENA)
Chris Sherman (ENA)
Wade Stubblefield (EES)
To Senior Director
Buddy Aiken (EEL)
Jim Coffey (ENA)
Donette Dewar (Intl. Tax)
Patricia Dunn (NEPCO)
Mark Frank (ENA)
William Gehle (EECC)
Joseph Grajewski (EECC)
Jan Johnson (Corp)
Scott Mills (ENW)
James New (EEL)
Mary L. Ruffer (ENA)
Richard Sage (EEL)
Elaine Schield (Corp)
Kevin Sweeney (ENW)
Beth Wapner (EBS Tax)
Director
Thresa Allen (ENW)
Ron Baker (Corp)
Misty Barrett (EES)
Jeff Blumenthal (EWS)
Trey Cash (Corp Tax)
Karen Choyce (Corp)
Cheryl Dawes (ENA)
Lanette Earnest (EWS Tax)
Jeffrey Gossett (ENW)
Robert Guthrie (ETS Tax)
Susan Helton (ENA)
Ralph Jaeger (EEL)
Andrea Kerch (EEL)
Faith Killen (ENA)
Johnna Kokenge (Corp)
Matt Landy (EEL)
Andy Lawrence (ISC)
Connie Lee (EBS)
Caroline Lothian (EEL)
Meg Malone (Corp Tax)
Gary Peng (Corp)
Stephen Schwarzbach (Corp)
Sally Seelig (EES Tax)
Don Shackley (EES/London Tax)
Patricia Shannon (Corp)
Eddie Sikes (Intl. Tax)
Jeffrey Smith ( EGM)
Ron Smith (GSS)
Kim Theriot (ENW)
Hope Vargas (ENA)
Tina Ward (EEL)
Stephen Whitaker (EEL)
Stacey White (ENW)
Rob Wilcott (Corp)
To Manager
Christopher Abel (ENW)
Stacey Aune (ENA)
David Baumbach (ENW)
Maya Beyhum (ENW London)
Patricia Bloom (ENA)
Matthew Brown (ENW)
Vince Cacaro (ISC)
Clara Carrington (ENW)
Carol Carter (ENA)
Carolyn Centilli (ISC)
Erin Copeland (EECC)
Richard Cross (ENW)
Rachel Davis (Corp)
Michael Desbiens (ISC)
David Dupre (ISC)
Eileen Flanagan (EEL)
Regina Figueroa (ISC)
Rebecca Ford (ENW)
Darron Giron (ENW)
Julie Goodfriend (International Tax)
Karen Gruesen (ENA)
Kevin Hall (EEL)
Kristen Hanson (ENW)
David Horne (ISC)
Larry Hunter (ENW)
Todd Hunter (EES)
Jim Ischy (GSS)
Chris Jones (ISC)
William Kasmervisz (ENW)
Kam Kaiser (ENW)
Kedar Kulkarni (ISC)
Monica Lande (ENW Portland)
Suzanne Lane (EEL)
Vince Mack (ISC)
David Maxwell (ENW)
Emitra Nelson (ISC
Caroline Nugent (EWS Tax)
Mark Pope (ISC)
Yiannis Poulopoulos (London Tax)
Melissa Ratnala (ENW)
Jason Sharp (Corp Tax)
Stephanie Smith (Corp)
Patricia Spence (ENW)
Amy Spode (ENW)
Patricia Sullivan (ENW)
Lisa Sutton (ETS)
John Swinney (ENW)
Deana Taylor (Corp)
Dimitri Taylor (ENW)
Wayne Tencer (EES)
Bernella Tholen (ENA)
Theresa Vos (ENA)
Blake Walker (EECC)
Bob Ward (International Tax)
David Williams (EEL)
To Senior Specialist
Amelia Alland (ENW)
James Armstrong (ENA)
Carmen Ayala (GSS
Cynthia Balfour-Flanagan (ENW)
Gilda Bartz (Corp)
Stacey Brewer (ENW)
Marian Briscoe (Corp Tax)
Aneela Charania (ENW)
Patricia Clark (Corp)
Chris Crixell (EES Tax)
Diane Ellstrom (ENW)
Heidi Griffith (EES)
Marla Hernandez (ISC)
Marlene Hilliard (ENW)
Dave Hollick (London Tax)
Rachel Jones (EEL)
Dawn Kenne (ENW)
Harry Kent (EWS Tax)
Blanca Lopez (ENA)
Brian Hunter Lindsay (EEL)
Rachel Lyon (EEL)
Stacy Hardy (ENA)
Sally McAdams (ISC)
Kelly McCain (Corp Tax)
Errol McLaughlin, Jr. (ENW)
Sylvia Martinez (ISC)
Kevin Meredith (ENW)
Meredith Mitchell (ENW)
Winnie Ngai (Corp Tax)
Thien-Huong Ngo (ENW)
Brian Palmer (ENW)
Bich Ann T Pham (ENA)
Shelly Pierson (Corp)
Lillie Pittman (ISC)
David Rae (ENW)
Dixie Riddle (ETS Tax)
Salvador Dominguez (Corp)
Mark Schrab (ENW)
Stephanie Sever (ENW)
Danielle Shafer (ISC)
Shifali Sharma (ENW)
Keith Simper (ENA)
Christopher Spears (ENW)
Caron Stark (ISC)
Tara Sweitzer (ENW)
David Vandor (ENA)
Mary Womack (ISC)
David Yang (International Tax)
Sabrae Zajac (ENW)
To Specialist
Kim Chick (EES Tax)
Justin East (EEL)
Joey Esperance (International Tax)
Randi Howard (ISC)
Melanie Hutchinson (EWS Tax)
Mary Joseph (Corp Tax)
Sherri Kathol (International Tax)
Lex Lacaze (International Tax)
Michelle LeBlanc (Corp Tax)
Ling Li (EWS Tax)
Kori Loibl (ENW)
Alan Marsh (Corp Tax)
Bruce Mills (ENW)
Erika Moore (EEL)
Matthew Motsinger (ENW)
Sherry Meyers (ISC)
Andrea Price (Corp Tax)
Bernice Rodriguez (ENW)
Tina Salinas (EES Tax)
Brent Vasconcellos (Corp Tax)
Brandi Wachtendorf (ENW)
Patryk Wlodarski (ENW London)
To Entry Specialist
Stuart Sheldrick (EEL)
To Accountant I
Becky Klussman (Corp)
To Accountant II
Silvia Shelby (Accounts Payable)
To Staff
Mary Behn (EES)
Guy Freshwater (ENW London)
Geralynn Gosnell (ENW)
Richard Miley (ENW)
Brent Storey (ENW London)
Stuart Thom (ENW London)
Judith Walters (ENW)
Jonathan White (ENW London)
Joan Winfrey (ENW)
To Senior Tax Analyst
Emily Allwardt (International Tax)
Leon Branom (EBS Tax)
Shanna Husser (EES Tax)
Shilpa Mane (Corporate/London Tax)
Todd Richards (Corp Tax)
Michelle Thompson (Corp Tax)
To Sr. Administrative Assistant
Norma Chavez (International Tax)
Sarah Knott (ENW London)
To Sr. Travel Administrator
Cheryl Slone (GSS )
To Administrative Coordinator
Heather Choate (ENW)
Kayla Heitmeyer (GSS)
To Senior Clerk
Angela Barnett (ENW)
Matthew Davies (ENW London)
Daniela De Lisi (ENW London)
Rufino Dorteo (ENA)
Mark Pilkington (ENW London)
Narjinder Sandhu (EEL)
Howard Sweasey (EEL)
Laura Vargas (ENW)
Jo Ann Woods (Corp Tax)
To Intermediate Clerk
Maria Maldonado (Accounts Payable)
Araceli Mondragon (Accounts Payable)
Irma Rodriguez (Accounts Payable)
Bernita Sowell (Accounts Payable) |
FYI,
Our SAP company number is 413 and the cost center is 105668.
---------------------- Forwarded by Cindy Stokes/HOU/ECT on 06/23/2000 09:24
AM ---------------------------
Michelle Vitrella
06/16/2000 11:33 AM
To: Diana Ovalle/Corp/Enron@ENRON, Virginia Cavazos/Corp/Enron@ENRON, Cindy
Cicchetti/HOU/ECT@ECT, Angelina V Lorio/HOU/ECT@ECT, Xochil
Moreno/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Giselle
James/Corp/Enron@ENRON, Susan Jones/Corp/Enron@ENRON, Thais
Hensch/Corp/Enron@ENRON, Kischa Gipson/Corp/Enron@ENRON, Terry
Furches/Corp/Enron@Enron, Kimberly Lerro/HOU/ECT@ECT, Sheila
Graves/Corp/Enron@Enron, Mary Weatherstone/HOU/ECT@ECT, Kim
Ladish/Corp/Enron@Enron, Peggy McCurley/HOU/ECT@ECT, Venita
Coleman/Corp/Enron@Enron, Chris X Daniel/HOU/ECT@ECT, Melanie
Facundo/HOU/ECT@ECT, Cynthia Tovar/HOU/ECT@ECT, Suzanne Adams/HOU/ECT@ECT,
Ana Alcantara/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT, Donna
Baker/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT, Katherine
Benedict/HOU/ECT@ECT, Tamara Jae Black/HOU/ECT@ECT, Ginny Boss/DEN/ECT@Enron,
Erica Braden/HOU/ECT@ECT, Terri Brian/CAL/ECT@ECT, Kimberly
Brown/HOU/ECT@ECT, Elaine Brown/HOU/ECT@ECT, Esther Buckley/HOU/ECT@ECT,
Angie Buis/Corp/Enron@ENRON, Kimberly Bullock/HOU/ECT@ECT, Jennifer
Burns/HOU/ECT@ECT, Elaine Campbell/ECP/HOU/ECT@ECT, Lydia Cannon/HOU/ECT@ECT,
Nella Cappelletto/CAL/ECT@ECT, Sherri Carpenter/HOU/ECT@ECT, Lillian
Carroll/HOU/ECT@ECT, Carol Castanos/NA/Enron@Enron, Pilar
Cerezo/NA/Enron@ENRON, Christy Chapman/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT,
Heather Choate/HOU/ECT@ECT, Julie Clyatt/Corp/Enron@ENRON, Angie
Collins/HOU/ECT@ECT, Mary Comello/Corp/Enron@Enron, Betty J
Coneway/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON, Amy
Cooper/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Sheri L
Cromwell/HOU/ECT@ECT, Katherine Crosswhite/HOU/ECT@ECT, Susan
Fallon/Corp/Enron@ENRON, Debra Davidson/PDX/ECT@ECT, Joya Davis/HOU/ECT@ECT,
Tamara Davis/HOU/ECT@ECT, Danielle Dees/HOU/ECT@ECT, Felicia
Doan/HOU/ECT@ECT, Christine Drummond/HOU/ECT@ECT, Catherine
DuMont/PDX/ECT@ECT, Deborah J Edison/HOU/ECT@ECT, Janette
Elbertson/HOU/ECT@ECT, Lora Ellis/HOU/ECT@ECT, Stella L Ely/HOU/ECT@ECT, Amy
Felling/DEN/ECT@Enron, Yolanda Ford/HOU/ECT@ECT, Deana
Fortine/Corp/Enron@ENRON, Stephanie Gardner/HOU/ECT@ECT, Michelle
Garza/ECP/HOU/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Mary
Grisaffi/HOU/ECT@ECT, Pam Grubel/ECP/Enron@Enron, Alisha
Guerrero/HOU/ECT@ECT, Mollie Gustafson/PDX/ECT@ECT, Anabel
Gutierrez/HOU/ECT@ECT, Nancy Hall/HOU/ECT@ECT, Claudette Harvey/HOU/ECT@ect,
Jenny Helton/HOU/ECT@ect, Angela Henn/HOU/ECT@ECT, Kimberly
Hillis/HOU/ECT@ect, Irena D Hogan/HOU/ECT@ECT, Barbara
Hoover/ECP/Enron@Enron, April Hrach/SF/ECT@ECT, Renee Ingram/HOU/ECT@ECT,
Geraldine Irvine/HOU/ECT@ECT, Monica Jackson/Corp/Enron@ENRON, Marvia
Jefferson/HOU/ECT@ECT, Pat Jefferson/HOU/ECT@ECT, Barbara
Johnson/HOU/ECT@ECT, Carmella Jones/HOU/ECT@ECT, Donna Jones/HOU/ECT@ECT, Jan
M King/HOU/ECT@ECT, Leticia Leal/HOU/ECT@ECT, Tonai Lehr/Corp/Enron@ENRON,
Lorie Leigh/HOU/ECT@ECT, Maxine E Levingston/Corp/Enron@Enron, Barbara
Lewis/HOU/ECT@ECT, Emma Linton/CAL/ECT@ECT, Vickie Lopez/HOU/ECT@ECT, Shelby
Malkemes/Corp/Enron@ENRON, Julissa Marron/Corp/Enron@ENRON, Nicole
Mayer/HOU/ECT@ECT, Angela McCulloch/CAL/ECT@ECT, Sandra R
McNichols/HOU/ECT@ECT, Maria Elena Mendoza/NA/Enron@Enron, Jana
Mills/HOU/ECT@ECT, Laura Mireles/Corp/Enron@ENRON, Luann
Mitchell/Corp/Enron@Enron, Cherry Mont/NY/ECT@ECT, Kevin G Moore/HOU/ECT@ECT,
Paul Morrissette/HOU/ECT@ECT, Kelley Myers/GCO/Enron@ENRON, Linda J
Noske/HOU/ECT@ECT, Carla M O'Neil/CAL/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT,
Frances Ortiz/HOU/ECT@ECT, Rhonna Palmer/HOU/ECT@ECT, Terrellyn
Parker/HOU/ECT@ECT, Veronica Parra/HOU/ECT@ECT, Ragayle Pellum/HOU/ECT@ECT,
Kimberly Perkins/HOU/ECT@ECT, Fannette A Perry/HOU/ECT@ECT, Sharon
Purswell/HOU/ECT@ECT, Pat Radford/HOU/ECT@ECT, Cynthia Ramirez/HOU/ECT@ECT,
Jessica Ramirez/HOU/ECT@ECT, Ina Rangel/HOU/ECT@ECT, Jennifer
Reed/HOU/ECT@ECT, Sarah Reyna/Corp/Enron@ENRON, Janice Riedel/HOU/ECT@ECT,
Tina Rode/HOU/ECT@ECT, Grace Rodriguez/PDX/ECT@ECT, Mark Anthony
Rodriguez/HOU/ECT@ECT, Beth A Ryan/HOU/ECT@ECT, Alex Saldana/HOU/ECT@ECT,
Maria Sandoval/HOU/ECT@ECT, Carolyn Schader/HOU/ECT@ECT, Marsha
Schiller/HOU/ECT@ECT, Tammie Schoppe/HOU/ECT@ECT, Rebecca
Serwin/Corp/Enron@Enron, Lisa Shoemake/HOU/ECT@ECT, Linda
Sietzema/CAL/ECT@ECT, Linda J Simmons/HOU/ECT@ECT, William
Smith/Corp/Enron@ENRON, Dina Snow/Corp/Enron@Enron, Tina
Spiller/Corp/Enron@Enron, Beverly Stephens/Corp/Enron@Enron, Cindy
Stokes/HOU/ECT@ECT, Twanda Sweet/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT, Gerry
Taylor/Corp/Enron@ENRON, Grace Taylor/Corp/Enron@ENRON, Kelly
Templeton/Corp/Enron@ENRON, Tina Tennant/HOU/ECT@ECT, Patti
Thompson/HOU/ECT@ECT, Lynn Tippery/HOU/ECT@ECT, Becky Tlucek/HOU/ECT@ECT,
Denise Tubb/ECP/HOU/ECT@ECT, Valerie Urbanek/Corp/Enron@ENRON, Xochitl-Alexis
Velasco/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Suzanne
Warren/ECP/HOU/ECT@ECT, Stacy Weatherly/Corp/Enron@Enron, Teri
Whitcomb/PDX/ECT@ECT, Brenda Whitehead/HOU/ECT@ECT, Chaundra
Woods/HOU/ECT@ECT, Kim Zachary/HOU/ECT@ECT, Lisa Zarsky/HOU/ECT@ECT, Cristina
Zavala/SF/ECT@ECT, Dusty Warren Paez/HOU/ECT@ECT, Aric Archie/NA/Enron@Enron,
Tomara Renee Anderson/NA/Enron@Enron
cc: Yvonne Laing/HOU/ECT@ECT
Subject: GL CO and Cost Center Numbers
Attached is the conversion tables for RC to SAP Cost Center and CO# to SAP GL
Company. These numbers are needed for proper expense reporting, timekeeping
and internal services (i.e. after hours lighting/AC, building services and
graphics). It is very important that this information is distributed to
everyone in your group.
Just a friendly reminder.....
JUNE 30 DEADLINE!!!! all time for the period beginning June 16 and ending
June 30 must be entered into SAP by 3pm CST.
-New SAP coding must be used for all time, expenses and invoices
-Timekeeping functionality and System ID's will be available for all
employees paid out of Corp Payroll in Houston, June 22
Check out the SAP website (http://sap.enron.com/) for updated info as well as
access to the Center of Expertise(COE) link, which also has helpful
information and forms. If you have questions please contact the Center of
Expertise (COE) 713-345-4SAP, x54727 or by email [email protected]. |
[IMAGE]IntercontinentalExchange
Firm Physical Natural Gas Price Bulletin
[IMAGE]For Natural Gas Delivered on Friday, December 28, 2001
(Trade Date of Thursday, December 27, 2001)
Click here to access index history |
Kay, we are working on the Bogey Exhibit and the Profit/Savings Calc. Will
get back with you re: items 1d. and 2.
See assignments and comments in red. Reagan/Kayne/Dave/Jeff responses due to
Kay by noon today.
1) General comments -
a) We have not seen a draft of the MPPSA or the MGPSA for review and comment.
Kay
b) All section references in the draft should be reviewed and checked. The
majority of the references checked were incorrect. Kay
c) Since financial security is still an outstanding issue, all comments
regarding the provisions in the draft pertaining to that subject have been
excluded. Kay
d) The draft contains references throughout to exhibits that will be attached
to the agreement that were not included in the draft. See bleow.
2) Article 1, pages 6 and 7 - Profit and Savings: These definitions reference
exhibits that were not included in the draft. One of the most significant
issues we had with the prior drafts were with the definition for "savings" so
it is important to review a draft of these exhibits as soon as possible.
Reagan/Kayne/Dave/Jeff to chech with Marvin. He should have forwarded
exhibits with everything else. time is running out on them to do anything
here. Will report more on this issue.
3) Section 3.1(b): This section obligates EPMI to &Propose8 a load projection
and stack model. Should this say &Prepare8 as opposed to &Propose8.
"Prepare" is fine.
4) Section 3.1(c): First line refers to a &request by Customer8. Customer is
not defined, is this intended to refer to MDEA? If not, include a definition
of Customer. "...upon request by Customer" is not necessary. This has
already been done.
5) Section 3.2(a): Provides that EPMI will use &commercially reasonable
efforts8. The draft does not include a definition for this term. Suggest
including a definition since this standard is used throughout the draft. Kay
6) Section 3.2(a): Suggest adding the following phrase in the second line
after &schedule Products8, &in a manner intended to minimize the cost of
serving MDEA,s native load8. Adding this seems fine; however, are there any
legal implications, Kay? If not, add it in.
7) Section 3.2(c): Line 3 refers to Cajun and EPI, which are not defined in
the draft. Suggest including definitions or inserting the phrase &Existing
Contract Resources8 in place of &SEPA, Cajun, EPI8. The substitution is fine.
8) Section 3.2(h): Line 1 provides &EPMI will optimize scheduling and usage
or resale (when appropriate)8. Would suggest deleting &when appropriate8 and
inserting &(in accordance with the terms and conditions of each Existing
Contracted Resources contract)8. The suggested change is OK.
9) Section 4.1(a): Line 1 requires MDEA to operate and maintain its native
load distribution system in accordance with Prudent Operating practices(.8.
Would suggest deleting the phrase &and the Native Load distribution system8.
This agreement does not bear on how the cities would operate and maintain
their distribution systems. Reagan/Kayne/Dave/Jeff
[Rorschach, Reagan] (a) Operate and maintain the Facilities and Entergy
interconnection obligations in accordance with Prudent Operating Practices
and in accordance with the terms of this Agreement.
(b) Responsibilities for operating reliably with respect to Native Load lies
solely with MDEA and the Cities.
10) Section 6.4: The fourth sentence states & due to the use of imprecise
data such as weather reports, heat rate estimates and the like, it is
understood between the Parties that the resulting projections,
recommendations and daily plan are consistent with commercially reasonable
industry practices8. According to this provision, the parties agree in
advance that the resulting projections, recommendations and daily plans are
consistent with commercially reasonable industry practices. We believe that
the &use of that type of data8 is consistent with commercially reasonable
industry practices, but do not believe that that this automatically
translates into the projections themselves being consistent with commercially
reasonable industry practices. Text should be changed as appropriate to
reflect this change. Reagan/Kayne/Dave/Jeff
[Rorschach, Reagan] Section 6.4 Each day, EPMI shall provide a projection of
the next day,s Native Load, and project the need for gas, fuel oil and power.
Each day, EPMI and MDEA shall jointly run the Load Projection Model and the
Facility Stack Model. EPMI and MDEA will then (1) compare and verify
assumptions and results from the models, (2) develop recommendations and (3)
decide upon the operating plan for the day. This analysis will take into
account such considerations as weather conditions, business day/weekend and
holiday load conditions, historical loads, gas/power pricing, unit
availabilities, unit operating data, and prior commitments to buy and sell
power. The Parties understand and agree that the development of the
projections, recommendations and daily operating plan is complex and requires
an element of judgment. Further, it is understood that the use of imprecise
data such as weather reports, and heat rate estimates to make such
projections, recommendations and daily plan are consistent with commercially
reasonable industry practices.
11) Section 7.1: Second sentence provides &Risk of loss and all price and
unit contingency and transmission risk shall be borne by Customer8. Suggest
adding the phrase & For Back to Back Transactions8 at the beginning of this
sentence. MDEA should not be responsible for unit contingency, transmission
risk etc. for an EPMI Transaction. Reagan/Kayne/Dave/Jeff
[Rorschach, Reagan] Delete the sentence "Risk of loss...shall be borne by
the Customer."
12) Section 10.2(a): Line 3, change & MDA8 to &MDEA8. Kay
13) Section 14.6: Line 3, change &and the MPPSA8 to &the MPPSA and the
MGPSA8. Kay
14) Section 15.1(d): provides three business days written notice to the
defaulting party to cure a Financial Event of Default, otherwise the
agreement can be terminated. Three days is too short of a time period for
MDEA. Kay/David Hunt
15) Section 17.1: Second sentence, provides that an independent auditor
reasonably acceptable to EPMI is entitled to audit all books and records of
EPMI. However this provision goes on to state that EPMI shall be entitled to
audit MDEA,s books, not an independent auditor subject to MDEA,s approval.
Suggest deleting &EPMI shall be entitled to audit8 and adding &An independent
auditor reasonably acceptable to MDEA8. Kay
16) Article 28: As we have previously noted, this section contains language
related to conflict of interest issues and the lack of notification related
to conflicts of interest that should be read carefully reviewed by MDEA and
the Cities. Kay/David Hunt |
My message cut off... The conclusion is that while we continue to need to
address the kinds of issues laid out in your recommnedations, we need to look
at solutions which may go deeper to adress our communications problems .. .
solutions which have become available only recently. Why not have these guys
focus on an online training program to both teach people how to make
information available and accessible (eg by recording information and
updating on the intranet) and demonstrating the importance of this activity
to the success of the organization.
I think you and your team have done a fine job dealing with the traditional
(and perhaps largely insoluble problems) that this group wants to take on. I
am pessimistic that the program outlined below will provide anything other
than marginal improvements. I am somewhat optimistic, though, that we may
be able to bypass many of these problems (and get to the heart of what people
are really complaining about in the survey) by instituting real knowledge
management at Enron.
Richard Amabile
08/18/2000 05:20 PM
To: Mike McConnell/HOU/ECT@ECT, Louise Kitchen/HOU/ECT@ECT, David
Gorte/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON, James
Prentice/GPGFIN/Enron@ENRON, Jan Johnson/GPGFIN/Enron@ENRON, Mark
Koenig/Corp/Enron@ENRON, Sharon Butcher/Corp/Enron@ENRON, Mary
Clark/Corp/Enron@ENRON, Gina Taylor/OTS/Enron@Enron, Mike
Stewart/Corp/Enron@ENRON, Dave Schafer/OTS/Enron@ENRON, David A
Terlip/Corp/Enron@Enron, Joe Kishkill/SA/Enron@Enron, Marie
Hejka/Corp/Enron@ENRON, Craig Childers/HOU/EES@EES, Craig H
Sutter/HOU/EES@EES, Kirk McDaniel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Kathleen A Cook/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Keith
Sparks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James C
Lewis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ray Bennett/HOU/EES@EES, Joseph W
Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, George Wasaff/NA/Enron@Enron,
Elizabeth Tilney/HOU/EES@EES, Michael R Brown/LON/ECT@ECT, Andrew S
Fastow/HOU/ECT@ECT, Billy Lemmons/Corp/Enron@ENRON, Steven J
Kean/HOU/EES@EES, Scott Yeager@ees, Eric Thode/Corp/Enron@ENRON, Marie
Hejka/Corp/Enron@ENRON, Cynthia Barrow/HR/Corp/Enron@ENRON, John
Thompson/LON/ECT@ECT, Nigel Sellens/LON/ECT@ECT, David Oxley/HOU/ECT@ECT,
Drew C Lynch/LON/ECT@ECT, Marla Barnard/Enron Communications@Enron
Communications, [email protected], Kimberly Rizzi/HOU/ECT@ECT, Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janie
Bonnard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected], Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tim O'Rourke/Corp/Enron@Enron,
Miguel Padron/SA/Enron@Enron, Gerry Chatham/Corp/Enron@ENRON, Cindy
Skinner/HOU/ECT@ECT, Ranendra Sengupta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: [email protected]
Subject: Computer Based Communications Training Initiative - Response
Reminder for Feedback
This is a reminder that we would like your feedback/input on the items
mentioned below regarding the Computer Based Communications Training
Initiative. Please respond by the close of business Monday, August 21
otherwise we will need to move ahead with the responses received by that time.
Dick Amabile
---------------------- Forwarded by Richard Amabile/HR/Corp/Enron on
08/18/2000 04:31 PM ---------------------------
Richard Amabile
08/16/2000 02:40 PM
To: Mike McConnell/HOU/ECT@ECT, Louise Kitchen/HOU/ECT@ECT, David
Gorte/HOU/ECT@ECT, Cindy Olson/Corp/Enron@ENRON, James
Prentice/GPGFIN/Enron@ENRON, Jan Johnson/GPGFIN/Enron@ENRON, Mark
Koenig/Corp/Enron@ENRON, Sharon Butcher/Corp/Enron@ENRON, Mary
Clark/Corp/Enron@ENRON, Gina Taylor/OTS/Enron@Enron, Mike
Stewart/Corp/Enron@ENRON, Dave Schafer/OTS/Enron@ENRON, David A
Terlip/Corp/Enron@Enron, Joe Kishkill/SA/Enron@Enron, Richard
Amabile/HR/Corp/Enron@ENRON, Marie Hejka/Corp/Enron@ENRON, Craig
Childers/HOU/EES@EES, Craig H Sutter/HOU/EES@EES, Kirk
McDaniel/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathleen A
Cook/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Keith
Sparks/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, James C
Lewis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard
Leibert/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ray Bennett/HOU/EES@EES, Joseph
W Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, George Wasaff/NA/Enron@Enron,
Elizabeth Tilney/HOU/EES@EES, Michael R Brown/LON/ECT@ECT, Andrew S
Fastow/HOU/ECT@ECT, Billy Lemmons/Corp/Enron@ENRON, Steven J
Kean/HOU/EES@EES, Diane Bazelides/HOU/AZURIX@AZURIX, Scott Yeager@ees, Eric
Thode/Corp/Enron@ENRON, Marie Hejka/Corp/Enron@ENRON, Cynthia
Barrow/HR/Corp/Enron@ENRON, John Thompson/LON/ECT@ECT, Nigel
Sellens/LON/ECT@ECT, David Oxley/HOU/ECT@ECT, Drew C Lynch/LON/ECT@ECT, Marla
Barnard/Enron Communications@Enron Communications, [email protected],
Kimberly Rizzi/HOU/ECT@ECT, Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janie
Bonnard/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected], Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tim O'Rourke/Corp/Enron@Enron,
Miguel Padron/SA/Enron@Enron, Gerry Chatham/Corp/Enron@ENRON, Cindy
Skinner/HOU/ECT@ECT, Ranendra Sengupta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: [email protected]
Subject: Computer Based Communications Training Initiative
As agreed in our V&V meeting today I have attached two items for your review:
1. A list of those who have been interviewed or have been part of a focus
group on this subject.
The input from individuals on this list will be the basis for developing the
5-7 key scenarios that will be a part of the training. Please let me know if
you feel we should include more people from your unit to insure that your
unit's unique circumstances are appropriately taken into account. If so, let
us know either their names or how you would like them to be identified.
Some of the individuals on this list will be contacted as Subject Matter
Experts to help provide real Enron contexts for the scenarios as they are
further developed.
2. A list of the "first draft" objectives for the program and 10 possible
scenarios.
Since we will only be able to have a total of about 5-7 scenarios in the
final version, identify the 5 - 7 on this list of high level scenario ideas
that will have the most impact on improving communications and the most
applicability to a range of managers across the Enron organization. Any
other feedback you can provide on the objectives or scenarios would be
greatly appreciated.
We are seeking to move forward with the development of scenarios by the
beginning of next week. Therefore, if you could provide your feedback on
both of the items above by Friday, August 18th, it would be greatly
appreciated.
Dick Amabile |
Bob:
Our issues with hedge funds are somewhat complicated. The threshold issue is
that they are severely limited by their fundamental documents (the prospectus
will spell out what they can invest in) so we have to review those documents
before trading. That is more than we do for run-of-the-mill domestic
corporates and takes a lot of legal resources that so far have been spent
elsewhere.
The other issue is more difficult because it is hard to peg down and relates
to regulatory uncertainty. About a year ago a major hedge fund (Long Term
Capital) got into serious trouble and the regulators stepped in,
orchestrating a bail-out. There was much wringing of hands and gnashing of
teeth in Washington afterwards and since then there have been a variety of
messages coming out of Washington relating to derivatives trading with hedge
funds - none of them good. Our view is that the regulators will be paying
much closer attention to hedge fund trading of derivatives than in the past
and we don't want that spotlight shining on us. [In case you're interested:
notwithstanding their name, hedge funds are speculators. Much of the federal
regulation of derivatives has assumed that hedging -- as opposed to
speculation -- was safer and therefore more palatable. The failure of a
large hedge fund might result in damaging ripple effects throughout the
financial markets. Hence the regulators' heightened scrutiny.]
For both of these reasons, when EnronOnline was launched it was with the
internally stated policy that we would not give access to hedge funds (or
individuals - for similar reasons).
Commodity Trading Advisors can not trade on EnronOnline on behalf of their
customers just as Brokers cannot.
Mark
Bob Shults
12/12/2000 10:26 AM
To: Andy Zipper/Corp/Enron@Enron, Mark Taylor/HOU/ECT@ECT
cc: [email protected]
Subject: Hedge Fund and CTA list
Andy as we discussed Harry will begin contacting the Hedge Funds. Caroline
Abramo is starting to push the CTA's (for LME metals) and hedge funds
(metals, energy etc) through the credit hurdles and legal. Mark, you have
visited this one before any comments?
---------------------- Forwarded by Bob Shults/HOU/ECT on 12/12/2000 10:17 AM
---------------------------
From: Harry Bucalo
12/12/2000 10:02 AM
To: Bob Shults/HOU/ECT@ECT, Daniel Diamond/HOU/ECT@ECT
cc:
Subject: Hedge Fund and CTA list
---------------------- Forwarded by Harry Bucalo/HOU/ECT on 12/12/2000 10:02
AM ---------------------------
Cai Palmer@MGUSA
12/11/2000 09:16 AM
To: Harry Bucalo/HOU/ECT@ECT, Craig Young/NY/ECT@ECT
cc: Daniel Diamond/HOU/ECT@ECT, Per Sekse/NY/ECT@ECT, TJ
Pimpinelli/NYC/MGUSA@MGUSA, Paul Radous/Corp/Enron@ENRON, William S
Bradford/HOU/ECT@ECT, Trena McFarland/NA/Enron@Enron, Vikas
Dwivedi/NA/Enron@Enron, Fred Lagrasta/HOU/ECT@ECT, Caroline
Abramo/Corp/Enron@Enron
Subject:
Harry,
Further to our conversation last week, I have listed below, in two segments,
the top CTAs who presently manage more than $100mill each, and the top Hedge
Funds, based upon their likelihood to manage assets in diversified markets,
that may include tangible commodities. My understanding of EOL is that it
presently caters primarily to this latter group and offers only tangible
commodity trading instruments.
As I explained, the principle difference between a Hedge Fund and a CTA
(Commodity Trading Advisor), is the manner in which they control the assets
that they are contracted to manage. In the case of a CTA, the money can not
be held by the CTA itself. The underlying investor will open a clearing
account with a respective Clearing House, the assets will remain in this
account and the CTA will trade based on the full monetary value of that
account - in many cases an investor may well fund this account with Notional
Funding. NF are 'abstract funds' not actually deposited at the Clearing
House, but acknowledged as being available should variation or original
margin be required. The CTA has no control over these funds. All monetary
transactions must be executed by the Clearing House, and must be authorized
by the investor. The CTA does have the ability to execute trades at an other
trading house - such as Enron, through a contractual document called an
International Uniform Give-Up Agreement. We have quite a few hundred of these
agreements in NY. Essentially, all parties involved in the execution of a
trade - the CTA, the Investor, the Executing Broker and the Clearing House,
agree to allow the CTA to trade wherever he/she wishes and Give-Up that trade
to the Investor's Clearing House. Since every regulated trade must ultimately
clear the respective exchange, for a CTA to trade OTC and Swap agreements,
would require prior notification to an investor that his/her money may be
required as collateral against such a trade, and would be required to be
deposited at Enron. A Hedge Fund has greater flexibility to trade such
instruments since in the majority of instances a Hedge Fund does exert
control over the funds it manages. A Hedge Fund typically structures its
investment vehicles as Off-Shore limited partnership funds. As such the Hedge
fund has direct control over the underlying assets and can move those assets
to wherever they may be required - if investing via Enron On-Line, it would
move the assets to Enron, for example.
This first list, below, is comprised of the top flight CTAs :
The following list is of Hedge Funds that I believe are trading Commodities
and other non-security investments. It is by no means complete ! :
I would be happy to make any introductions that I can to any of the above
names. Some we know well, others we may have to network ourselves into.
Caroline and I met a few weeks ago and I passed some names on to her - I am
not sure where that has got to yet, but if you need any further information
please call me.
Regards
Cai
Enron Trading Services Inc
520 Madison Ave., 28th Floor
New York, NY 10022
Tel: 212.715.5248
Fax: 212.715.2360
E-Mail: [email protected] |
Notice No. 00-388
November 16, 2000
TO:
All NYMEX Division Members/Member Firms
All NYMEX Division Clearing Members
All NYMEX Division Floor Traders
All NYMEX Division Operations Managers
FROM: George Henderson, Vice President
RE: Options Expiration Operational Procedures for the Trading Floor and
Clearing Members
________________________________________________________________
The expiration date for the December 2000 options contract for Cinergy
(NOZ0), Entergy (OTZ0), Palo Verde (VOZ0) and Cob (WOZ0) is Wednesday,
November 22, 2000.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 7:10 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:55 PM
Usual Event Time: 7:10 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:10 PM
Usual Event Time: 7:10 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:55 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 7:10 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:10 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&refdo
c=(00-388)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
I wanted to make sure that you had seen the language Jeff references that 1) explicitly recognize the PX Credit as part of Edison's undercollection, and 2) permit Edison to pay debts associated with the negative PX credit in the earlier e-mail. Call me with any questions.
Jim
-----Original Message-----
From: Dasovich, Jeff
Sent: Friday, August 24, 2001 9:03 AM
To: Kean, Steven J.; Kingerski, Harry; Belden, Tim; Sharp, Vicki; Blachman, Jeremy; Comnes, Alan; Tribolet, Michael; Walsh, Kristin; Delainey, David; Leff, Dan; Frazier, Lamar; Keeney, Kevin; Blachman, Jeremy; Gahn, Scott; Belden, Tim; Swain, Steve; Lavorato, John; Kaufman, Paul; Steffes, James D.; Calger, Christopher F.; Mara, Susan; Black, Don; Richter, Jeff; Kitchen, Louise; Dietrich, Janet; Mara, Susan; Robertson, Linda; Kingerski, Harry; Denne, Karen; Palmer, Mark A. (PR); Shapiro, Richard; Curry, Wanda; Mellencamp, Lisa
Subject: Important Update on California Legislation--08.23.01
Received the following additional information late yesterday from Speaker Hertzberg's chief of staff regarding Direct Access in the legislation working its way through the Assembly. He relayed the information during an informational hearing that an Assembly committee had on the bill yesterday in Sacramento. See previous note attached below for more a detailed description of DA provisions in the bill:
A new print of the bill is likely to be issued today.
With respect to DA, the Governor is apparently responsible for the temporary suspension of DA in the bill.
Assembly Ds and other market participants lobbied him hard, explaining that, since the bill covers all costs of bonds and DWR contracts through "exit fees," there is no reason to suspend DA.
The Governor is resisting hard, stating that "he wants time for the market to stabilize."
So it looks like the Governor's plan is to 1) have a bill that provides for Direct Access as of 1.1.03 and 2) have the PUC "temporarily suspend" DA from September 1 to 1.1.03.
We're continuing to work with with business customers to eliminate, or significantly shorten, the suspension.
The bill apparently will also have amendments stating that any customer who has switched by August 23, 2001 (yesterday) will not be responsible for any DWR going forward contracts. The customer will have to pay for any power consumed that DWR purchased on the IOUs' behalf between Jan 17 and the date of the switch.
The bill apparently will require that any customer switching between yesterday and Sept 1 be responsible for DWR going forward contracts (though details of how that would work were not clear).
The stated reason for wanting to insert an amendment on the August 23rd date is to prevent a "rush" to Direct Access between now and Sept 1.
There are currently NO efforts to break or othewise dissallow any contracts signed prior to Sept 1.
Finally, the bill apparently will also give self-generation priority over Direct Access in each "open season." The bill would set aside 250 MW of the short position each year for customers to do self gen. If the self gen is not subscribed, the MWs would go to DA.
The bill, including these amendments and other amendments related to other issues, is supposed to be released today.
The bill will be heard in the Assembly committee on Monday afternoon.
We continue to work with the business customers to improve the DA and self gen provisions.
It remains unclear whether there is sufficient support for the bill to pass the Assembly.
The politicians are very reluctant to pass any "Edison bail out bill" and the political pressure not to vote on any "bailout" is significant and growing. But the Governor is working the bill very hard.
Mirant is actively working against the bill.
Mirant is passing around a poll allegedly showing that any member that votes for a "bailout" could lose re-election. Mirant is also distributing a letter implicitly threatening to take Edison into involuntary bankruptcy if the bill passes.
The bill also has to make it through the Senate. Our lobbyist had a conversation yesterday with the Senate President, John Burton, who said flatly that "he's not doing anything." But there is much to trade in the final weeks of the session, and the possibility of Burton doing a deal is 50-50.
With respect to the bill's provisions preventing Edison from paying wholesale providers with the "dedicated rate component" included, Edison representatives at the hearing yesterday announced that Edison intends to issue first mortgage bonds to pay the suppliers. Edison also said that, under the Assembly version of the bill, Edison believes that it would have the borrowing capacity to issue the first mortgage bonds.
More info to follow as it becomes available. If anyone has any questions, don't hesitate to contact me.
Best,
Jeff
-----Original Message-----
From: Dasovich, Jeff
Sent: Wednesday, August 22, 2001 8:08 PM
To: [Dasovich, Jeff]
Subject: Latest Legislative Version of Direct Access --08.22.01
The following is a summary of the Direct Access provisions in the bill language released this afternoon reflecting the deal that Davis cut with Assembly. Things are very fluid and these provisions could change significantly.
I was just informed by the large business customers that they just met with the Davis' and Hertzberg's staff and the staff have agreed to amend the DA provisions to make them considerably more favorable for customers and suppliers. They also said that favorable provisions with respect to self-gen would also be added to the bill. They said that these new amendments could come out as early as tonite or tomorrow morning and that the bill may be heard tomorrow.
Note: In addition to the DA provisions, the bill also includes provisions that 1) explicitly recognize the PX Credit as part of Edison's undercollection, and 2) permit Edison to pay debts associated with the negative PX credit. (The bill does not authorize Edison to pay power suppliers, however, and leaves that portion of Edison's debt for Edison's management and shareholders to address.)
Summary of Direct Access provisions:
The program would begin January 1, 2003.
It's unclear what would happen to DA between now and January 1, 2003. Presumably, the decision to suspend, or not, between now and then would stay with the California PUC.
90 days after the effective date of the bill, and every 6 months thereafter, DWR would provide information to the PUC showing the net short position.
Every 6 months, the PUC would hold an open season permitting customers to switch to DA.
20 KW-and-above customers would have 60 days to decide to switch once the PUC has announced the open season; under 20kw customers would have 180 days.
Customers who switch to DA would be responsible for paying 1) the customer's proportionate share of the utility's undercollection and 2) the customer's proportionate share of DWR's receivables (if any) for power previously delivered by DWR (but not yet fully paid for by customers).
In addition, if the number of customers who elect to choose to go DA in the open season exceeds the net short, then DA customers will have to pay their proportionate share of any DWR stranded contract costs.
If the number of DA customers does not exceed the net short position, then no stranded contract cost fees would be assessed.
Best,
Jeff |
In my summer update about the acquisition of MG Plc and the integration of
the metals business into Enron, I reported that we were aiming to complete
the integration by the end of the year. I am pleased to report that we are
well on the way to meeting this target.
September was a busy month for the metals business as it brought with it both
the co-location of the London and Tokyo-based metals staff with Enron,s
offices and the first quarter of combined reporting under Enron Europe.
Ensuring a smooth transition for both the metals staff and the metals systems
into our London headquarters took a tremendous amount of co-ordination by
teams across the company on the part of the former MG team and the
integration team at Enron Europe. Nevertheless, &D-Day8 arrived with minimal
problems and the metals team open for business as usual on the morning of
September 18th.
Another key initiative that commenced during September was the re-positioning
of the MG worldwide metals business as Enron Metals. With the exception of
the Henry Bath & Son Limited warehousing division, which will remain as
currently named, the re-branding initiative was kicked off in the UK and
followed by Japan and the US. The re-branding initiative is on going with
all other remaining regions set to undergo completion of the name change by
the end of November.
Enron Metals is represented throughout the world. I have attached a regional
office summary that depicts Enron Metals, locations (Appendix I).
In light of the progress that has been made since the summer, I thought it
would be helpful to provide you with a brief recap of Enron Metals, core
business areas and identify those members of the metals team who will be
leading commercial efforts moving forward.
Merchanting Division
The Merchanting Division, led by Michael Farmer (+44 (0)20 7783 2049), is a
worldwide copper merchant, one of the top three independent merchants of
copper concentrates and nickel and the leading European merchant of recycled
non-ferrous metals. Core activities of the merchanting division are:
? Merchanting of Non-ferrous Metals ) Enron Metals trades as a principal with
producers and consumers, buying and selling non-ferrous metals and
concentrates (particularly copper, aluminum and nickel), exchanging qualities
and locations and lending and borrowing metals.
? Global Stockholding ) Through its affiliate, Henry Bath & Son Limited,
Enron Metals holds stocks of non-ferrous metals at warehouses around the
world.
? Merchanting of Recycled Metal ) Enron Metals trades as a principal with
suppliers and consumers of non-ferrous metal for recycling. Enron has
augmented its European recycling platform through the acquisition of assets
of W&O Bergmann, the leading German Recycling Business.
Financial Services Division
The Financial Services Division, led by Michael Hutchinson (+44 (0)20 7783
2079), provides market-making and trading services to Enron Metal,s physical
metals trading business through futures trading as a member of the London
Metal Exchange and as a member of COMEX in New York. The Financial Services
Division will continue to be comprised of brokerage activities for LME and
COMEX contracts and be a market-maker for both futures and options contracts
on the LME and COMEX and in OTC metals contracts.
With much of the metals business moving to online trading, significant effort
has been put into getting metals contracts incorporated into EnronOnline,s
portfolio of product offerings since the metals business, integration into
Enron this summer. Today on EnronOnline we are trading six metals (Copper,
Aluminium, Nickel, Zinc, Lead and Tin) with over 150 products available.
Enron Metals now has almost 800 financial counterparties on the books, with
300 of these having EnronOnline accounts. Trading volumes have increased
from a couple of trades per day in September to a high of 300 in October. The
attached charts depict the established metals results compared to the start
up of US natgas (Appendix II).
Origination
Enron Metals established a London-based commercial unit under the direction
of Eric Gadd, Vice President-Global Metals Origination which is focused on
completing highly structured and long-dated transactions. It will integrate
with existing merchanting and financial service competencies to lever up
earnings creation. Currently, the origination team is working on a number of
Q4 transactions in Australia and the Americas. The deal pipeline for Q2 has
prospects in not only these regions but also Europe/Africa and the Middle/Far
East. Close and regular communication between the metal origination team
and other business units inside Enron is essential if we are to succeed in
building a new capability to achieve earnings targets and deliver shareholder
value through Enron Metals. Your active involvement and close co-operation
here is appreciated.
Warehousing (Henry Bath & Son Limited)
The Warehousing operations, led by Ed Dablin, operate under the name of Henry
Bath & Son Limited. Henry Bath has been in business for more than 200 years
and maintains a global operation for the physical handling and storage of
non-ferrous metals, including zinc, tin, copper, nickel, lead and aluminum.
Henry Bath provides support to both the Merchanting and Financial Services
Divisions, and also engages in independent warehousing operations. Its core
activities include worldwide storage of metals and other products such as
cocoa, general goods and worldwide shipping services.
Presently, Henry Bath maintains over three million square feet of storage
worldwide (most of which is leased), with the largest facilities located in
the United Kingdom (Liverpool, London, Bristol, Immingham), the Netherlands
(Rotterdam), Spain (Bilbao, Barcelona), Singapore, and the United States (New
Haven, New Orleans and Los Angeles).
Rob Soeldner is managing the integration efforts for me. Please feel free
to contact him at +44 (0)20 7783 7169 with any questions regarding the
business.
Regards
John Sherriff |
I agree fully with the last sentence. E mail is not an appropriate forum to
discuss an issue like this. This may be somewhat moot given Fernley's latest
e mail but I believe this warrants direct communication. Fernley, I would
suggest you set up a discussion that would include this group and may grow to
include AA at some point to get their perspective directly. As I have
indicated before, I believe Barry is a valuable asset but may need some more
managing.
Ted Murphy@ECT
02/09/2000 12:32 PM
To: Fernley Dyson/LON/ECT@ECT
cc: Rick Buy/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Richard
Causey/Corp/Enron@ENRON
Subject: Re: Trading Support Operations - London
Fernley,
On January 25, 1999, I had breakfast in London with a shaking Richard Sage
who recounted the tail of Barry threatening his bonus and employment for
doing exactly what Jeff Skilling told him to do in the previous November.
Subsequently, Richard was "moved" from his position and Barry promoted. If
that is dealing with the situation, this actually reflects on your
credibility. If you think that an open communication, independent back
office message was sent to the back and middle office in Houston and London
by virtue of your promotion of Barry twice in 12 months, then you are sorely
mistaken.
On February 2, 2000 the Arthur Andersen team, including Tom Bauer, John
Sorrells and Jim Brown stated that Barry was an issue in satisfactorily
completing the Audit tasks from London.
I am not sure what we are attempting to accomplish here. You have dismissed
my "advice" and you need to do what you need to do.
If the goal is to get me to change my view, you have a big hole to dig out
of. I obviously can't change your point of view. I still feel a
responsiblity to express the views that I have and others are afraid to
surface. It is the inability for people to be heard and feel that they will
be supported when they step out on a limb that caused us to lose more money
trading than we ever have from a little office in the middle of nowhere.
Need I go on.
Let us stop the e-mail wars now. They serve no productive purpose.
Ted
Fernley Dyson
02/09/2000 04:56 AM
To: Ted Murphy/HOU/ECT@ECT
cc: Rick Buy/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT, Richard
Causey/Corp/Enron@ENRON
Subject: Re: Trading Support Operations - London
Ted,
We have had discussions about Barry in the past and I have followed-up on
specific instances you have mentioned - I believe they date back to 1998 and
prior to my first hand experience of working with Barry throughout 1999, and
the people who raised concerns then acknowledge that the environment has
changed since then. We are not so Barry-dependent. We have a team of quality
risk management professionals as evidenced by the fact that it is the primary
recruiting ground for the RAC team (David Port, Oliver Gaylard).
Barry's role is much less hands-on now and he is not our candidate for the
Global Products position - this will continue to be Kevin Sweeney. The role I
suggest for Barry is the high level co-ordination of the operations team -
his energy, enthusiasm and ability to execute on a plan, combined with his
considerable institutional knowledge, making a superior candidate difficult
to find. Frankly, I suggested Steve Young not for additional depth, but to
address the relationship issue that clearly exists - I do not belittle this
issue, and while I don't think that anyone can point to any "prosecutable"
offences that Barry may have committed in recent history, his management
style doesn't help to promote the view that he is totally impartial and
objective. I will say that he has always been open and frank (very frank)
with me - indeed if Mally and Sweeney had been as open we may have had a
different story to tell on Helsinki.
As an aside, I have not been involved in or consulted on the 'World Tour',
although I know that Barry suggested this sort of thing to Sally a few weeks
back. I think it is great that Brent Price is involved, but we would be happy
to contribute staff to this too.
Regards
Fernley
To: Fernley Dyson/LON/ECT@ECT
cc: Rick Buy, Sally Beck/HOU/ECT@ECT
Subject: Re: Trading Support Operations - London
Fernley,
As we discussed earlier this year, I have serious concerns about Barry that I
think are both well-founded and reasonably well documented. To be fair, I
will say that since Q1 of last year, I have not seen any FURTHER
"prosecutable" offenses and he has made some attempts at being more
communicative. However, I am clearly unwilling to stake my career on his
transformation, particulary with as influential person as John Sherriff in
charge of the office. Probably more to the point,
it continues to concern me that London has not developed an operations team
that is not so Barry-dependent. Evidence to this effect are, the fact that
he is your only candidate for the Global Products position, that someone from
Houston has to be part of the "World Tour" in Europe (Brent Price), that
your candidates for a senior interim operations head in Helsinki was David
Port or Richard Sage, and that your suggestion for additional depth is Steve
Young.
Further for the record, I believe that I am not the only one with whom Barry
has a credibility issue - Arthur Andersen, other Global Products personnell,
and other risk people in London have expressed similar concerns to me - I
just happen to be the most vocal.
Ted
Fernley Dyson
02/08/2000 04:07 PM
To: Richard Causey/Corp/Enron@ENRON
cc: Rick Buy/HOU/ECT@ECT, John Sherriff/LON/ECT@ECT, Ted Murphy/HOU/ECT@ECT,
Sally Beck/HOU/ECT@ECT
Subject: Trading Support Operations - London
Rick,
Not wishing to delay the comprehensive review of our trading support
function, particularly as it relates to our Global Products business, we
already have Barry Pearce taking a lead in this area.
The issue of concern is whether this should be an interim measure or a more
permanent solution. Well - nothing is permanent in Enron and I think Barry
understands this as well as anybody. If we had a more suitable candidate, we
would give him/her the job.
I have seen Barry develop and mature over the last 12 months along with the
team that we have built around him. I'm convinced that he can add significant
value by drawing the Global Products support functions 'in to the fold'.
However, he clearly has a credibility issue with Ted in particular and,
whilst I do not share Ted's views, I do not hold Barry out as a saint and I
can see recurring problems if such a key relationship is not well grounded.
I suggest that we continue to search for a candidate - known and trusted
within Houston, who can instill confidence there. Steve Young (head of RAC in
London) may be an interesting option, although I'm sure he would not be easy
to replace. In the meantime we need Barry to take things forward and I will
be monitoring the situation very closely.
Regards
Fernley. |
sold! I'll initiate the call.
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 3:44 PM
To: [email protected]
Cc: Vince J Kaminski
Subject: RE: Pre-meeting Weathereffects site cruise
Ed,
Thursday works for me. What about 10:30 my time?
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 02:43:00 PM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc:
Subject: RE: Pre-meeting Weathereffects site cruise
how about Thursday, July 6?
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 3:29 PM
To: [email protected]
Cc: Vince J Kaminski
Subject: RE: Pre-meeting Weathereffects site cruise
Ed,
A correction. I shall spend an entire day at PRC (performance review)
on Friday, July 7. Can we do on another day
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 12:40:59 PM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc:
Subject: RE: Pre-meeting Weathereffects site cruise
I'll still be here in Boston so we'd do it over the phone. OK?
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 12:11 PM
To: [email protected]
Cc: Vince J Kaminski
Subject: Re: Pre-meeting Weathereffects site cruise
Ed,
Will you be in Houston on that day or we shall do it over the phone?
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 09:13:04 AM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc: "Jeffrey Shorter \(E-mail\)" <[email protected]>
Subject: Pre-meeting Weathereffects site cruise
Vince,
How about a pre-meeting web site cruise on Friday, July 7 at 11AM EDT?
Ed
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 9:52 AM
To: [email protected]
Cc: Vince J Kaminski
Subject: RE: Next visit to Houston
Ed,
July 12, 2:30 it is. I would like the pre-meeting site cruise.
How can we arrange it?
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 04:00:53 AM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc: "Jeffrey Shorter \(E-mail\)" <[email protected]>
Subject: RE: Next visit to Houston
Vince,
We're all set for 2:30 on July 12. How about a pre-meeting web site cruise
on Friday, July 7 at 11AM EDT?
Ed
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Thursday, June 29, 2000 5:04 PM
To: [email protected]
Cc: Vince J Kaminski; Shirley Crenshaw
Subject: RE: Next visit to Houston
Ed,
Wednesday, July 12, 2:300 will work for me.
I shall be glad to review your website --
www.weathereffects.com. I shall invite some
people who work on electricity in
my group to join me.
Vince
"Edward Krapels" <[email protected]> on 06/29/2000 03:53:40 PM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc: "Jeffrey Shorter \(E-mail\)" <[email protected]>
Subject: RE: Next visit to Houston
Vince,
Good to hear from you and I'm glad you're available. How is Wednesday at
2:30?
I did look at EOL and am not surprised to see its quality. I was unable to
say much about it in my Risk Electricity Hedging and Trading report because
of deadline pressures. How is the site doing? I am intrigued by the
competition for trading platforms and was astonished to hear that Goldman,
Morgan, BP and Shell were going to launch a site to compete with yours. Talk
about a shotgun marriage!
If we have time next week, I could step you through our website --
www.weathereffects.com. I'm very proud of what we've done. I can't give out
a password yet but would be happy to walk through the site with you over the
phone using my password. It's a very ambitious site -- with state-of-the-art
WSI weather (seasonal, 6-10, and day to day) driving a good load model for
PJM and NEPOOL. ESAI contributes oil and gas input price forecasts, capacity
judgments, and "herding" ideas to develop power price forecasts for same
time periods. After one month's full-bore effort, I'm pleased with the
results (e.g., we forecast Nepool onpeak to be $43 and it turned out $46).
Have a great weekend.
Ed
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Wednesday, June 28, 2000 5:29 PM
To: [email protected]
Cc: Vince J Kaminski; Shirley Crenshaw
Subject: Re: Next visit to Houston
Ed,
I shall be available on both days. What about Wednesday,
July 12, between 1:30 and 4:00. Please, let me know
what time would work for you.
It will be nice to see you again.
Vince
P.S. By the way, did you have a chance to take a look at the EOL?
"Edward Krapels" <[email protected]> on 06/28/2000 02:49:41 PM
Please respond to [email protected]
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Next visit to Houston
Dear Vince,
I will be returning to Houston during the week of July 10.
ESAI and Weather Services International have launched -- after more than 18
months of R&D -- our service, called Energycast Power Trader and Energycast
Gas Trader, for power traders in Nepool and PJM. I would be happy to review
the service with you as well as take you on a tour of our web site. Are you
available on July 12 - 13?
Sincerely,
Ed Krapels |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 01/20/2000
02:45 PM ---------------------------
From: Elizabeth Soto 01/19/2000 11:01 AM
To: Melissa Rodriguez/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Judy
Hernandez/HOU/ECT@ECT, Alicia Perkins/HOU/ECT@ECT, Ana Correa/HOU/ECT@ECT,
Bernice Rodriguez/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT
cc:
Subject: Fwd: [Fwd: Fwd: Prayer Request]
---------------------- Forwarded by Elizabeth Soto/HOU/ECT on 01/19/2000
11:00 AM ---------------------------
Chantelle Villanueva
01/18/2000 03:34 PM
To: [email protected], Irena D Hogan/HOU/ECT@ECT, Kim
Perez/FGT/Enron@ENRON, Heather Choate/HOU/ECT, Alex Saldana/HOU/ECT@ECT,
Elizabeth Soto/HOU/ECT@ECT, Alisha Guerrero/HOU/ECT@ECT
cc:
Subject: Fwd: [Fwd: Fwd: Prayer Request]
---------------------- Forwarded by Chantelle Villanueva/HOU/ECT on
01/18/2000 03:34 PM ---------------------------
From: Andrea R Guillen 01/18/2000 02:51 PM
Sent by: Andrea R Guillen
To: Maria Sandoval/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, Pamela Sonnier/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT,
Cecilia Olvera/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, Rosa
Jaramillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected],
[email protected], Cassandra S Dutton/HOU/ECT@ECT
cc:
Subject: Fwd: [Fwd: Fwd: Prayer Request]
---------------------- Forwarded by Andrea R Guillen/HOU/ECT on 01/18/2000
02:49 PM ---------------------------
Pamela Sonnier
01/18/2000 02:46 PM
To: Maria Sandoval/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Cassandra S
Dutton/HOU/ECT@ECT, Brenda Barreda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Andrea R Guillen/HOU/ECT@ECT, Jessie Patterson/HOU/ECT@ECT, Regina
Perkins/HOU/ECT@ECT, Dana Davis/HOU/ECT@ECT
cc:
Subject: Fwd: [Fwd: Fwd: Prayer Request]
---------------------- Forwarded by Pamela Sonnier/HOU/ECT on 01/18/2000
02:46 PM ---------------------------
From: Jessie Patterson 01/18/2000 12:42 PM
To: [email protected], Pamela Conner/HOU/ECT@ECT, Cassandra S
Dutton/HOU/ECT@ECT, [email protected], [email protected],
[email protected], [email protected]
cc:
Subject: Fwd: [Fwd: Fwd: Prayer Request]
---------------------- Forwarded by Jessie Patterson/HOU/ECT on 01/18/2000
12:41 PM ---------------------------
[email protected] (Willie Patterson) on 01/15/2000 11:56:57 PM
To: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
Jessie Patterson/HOU/ECT@ECT, [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected]
cc:
Subject: Fwd: [Fwd: Fwd: Prayer Request]
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Subject: Fwd: [Fwd: Fwd: Prayer Request]
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From: "Roy Adger" <[email protected]>
To: <[email protected]>, <[email protected]>, <[email protected]>,
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Subject: Fwd: Prayer Request
When you receive this e-mail just recite the following prayer.
That's all you have to do. There is nothing attached. This is the power of
prayer at work. Just send this to (7) people and see what happens on the
seventh day.
Do not break this, please. There is no cost, but lots of rewards.
Let's continue to pray for one another.
PRAYER::
May today there be peace within you. May you trust God that you are
exactly where you are meant to be. May you not forget the infinite
possibilities that are born of faith. May you use those gifts that you have
received, and pass on the love that has been given to you. May you be
content knowing that you are a child of God. Let His presence settle into
your bones, and allow your soul the freedom to sing, dance, and to bask in
the sun. It is there for each and every one of you
Amen
Send this to (7) or more people and witness the awesome power of prayer. |
---------------------- Forwarded by Stephanie Miller/Corp/Enron on 04/10/2001
08:54 AM ---------------------------
Stephanie Miller
04/10/2001 08:54 AM
To: Stephanie Miller/Corp/Enron@ENRON
cc:
Subject: Re: FERC ruling on Kern expansion
Jeff - We also need to talk about PG&E's process for Gas Accord discussions
-We want to be very involved!
I have been advised that PG&E filed a proposal that outlined their solution
to the Gas Accord rollover - Have you seen this?
Stephanie Miller
04/10/2001 08:51 AM
To: Jeff Dasovich/NA/Enron@Enron
cc:
Subject: Re: FERC ruling on Kern expansion
Jeff - we participated in this open season and hold capacity in our name. We
will also take assignement of capacity from several shippers.
Please call if you have any questions.
From: Jeff Dasovich on 04/09/2001 10:18 AM CDT
Sent by: Jeff Dasovich
To: Julie A Gomez/HOU/ECT@ECT, Stephanie Miller/Corp/Enron@ENRON, Christopher
F Calger/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron,
James D Steffes/NA/Enron@Enron, [email protected], Susan J Mara/NA/Enron@ENRON,
Sandra McCubbin/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron, Joe
Hartsoe/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Donna
Fulton/Corp/Enron@ENRON, Tom Briggs/NA/Enron@Enron, Leslie
Lawner/NA/Enron@Enron, Rebecca W Cantrell/HOU/ECT@ECT
cc:
Subject: FERC ruling on Kern expansion
Kern Gets Speedy OK; Breathitt Questions Action
FERC moved with record speed to issue a certificate last week to Kern River
Gas Transmission for its 135 MMcf/d, mostly compression, expansion to the
natural gas-starved California market, but not all of the commissioners were
happy with the expedited manner in which the project was approved.
"The speed with which the Commission has acted in this proceeding is
something which will no doubt be touted as a great effort," but the
"precedent we have created could be a double-edged sword," warned
Commissioner Linda Breathitt in a partial dissent of the decision. Although
she voted in favor of the certificate in the end, she questioned whether FERC
"should...be willing to sacrifice careful review for speedy action."
Breathitt further said she seriously doubted the so-called California Action
expansion of the 900-mile,Wyoming-to-California Kern River system merited the
"extraordinary regulatory treatment" that the Commission gave it. Critics
claim that the $81 million project will not flow any more gas to the Wheeler
Ridge Interconnection in California than is currently available there, she
noted, adding that it would simply displace existing gas.
"...[I]t will not necessarily result in any net increase of natural gas in
the California marketplace. This makes it difficult to understand just how
our approval of Kern River's proposal is going to assist in increasing
electric generation in California this summer," Breathitt said. If anything,
she noted the project could make the congestion problem at Wheeler Ridge even
worse than it is.
There should have been a "fuller airing of this issue" at FERC before the
project was certificated, she noted. "It would be counterproductive for this
Commission to act precipitously on projects related to California without
ensuring that they will, in reality, benefit specific markets --- and more
importantly, that they will cause no further harm."
The Commission majority, however, readily dismissed protests of Pacific Gas
and Electric (PG&E), Southern California Gas and other California customers,
that claim the Kern River expansion would degrade service to existing
customers. They requested that existing customers be given priority over
expansion shippers.
"We conclude that the California Action Project will not have undue negative
impacts on existing shippers or competing pripelines," the order said
[CP01-106. For starters, "the record does not show that pro-rata allocations
of primary firm capacity have been a problem at Wheeler Ridge." Kern River
reports that the aggregate primary firm delivery rights of its shippers at
Wheeler Ridge will increase to about 527 MMcf/d from 450 MMcf/d as a result
of this project. At the same time, the design delivery capacity at the
Wheeler Ridge Meter Station will be increased to about 800 MMcf/d from 598
MMcf/d to accommodate existing shippers, new expansion shippers and Mojave
Pipeline shippers, it noted.
"Therefore, the expanded delivery point capacity at Wheeler Ridge will be
greater than the sum of the combined Kern River and Mojave contract volumes.
The Commission recognizes that this does not factor in the volumes
attributable to both PG&E and local production that are also delivered to
Wheeler Ridge. However, our emphasis is on Kern River being able to provide
sufficient delivery point capacity for its customers," the order said.
"The solution to the problem of pro-rata allocations of any services at
Wheeler Ridge lies not with the interstate pipelines, but rather in fixing
the problem with the take-away capacity and the lack of firm transportation
path rights on SoCalGas, a matter which is beyond our jurisdiction."
The project would increase the "limited-term, incremental transportation
capacity" of Kern River by 135 MMcf/d from Wyoming to California to help
address the urgent need for additional gas in the West. An estimated 53,900
horsepower would be added to the pipeline, including three new compressor
stations, and upgraded facilities at three existing compressor stations and
an existing meter station. The project, which has been fully subscribed, has
a targeted in-service date of July 1 of this year.
Kern River plans to use a mix of permanent and temporary facilities on the
project, with the temporary facilities intended to be subsequently replaced
by permanent 2002 California Expansion Project facilities (which is pending
at FERC), and the permanent facilities to be incorporated into the design of
the pipeline's 2002 and 2003 California Expansion Projects. The 2003 project
recently went through an open season |
Here is the email sent to employees. . . . . .shall I send to Dana and request he send names to you?
Lynette LeBlanc, PHR
Manager, HR Client Services
EOTT Energy Corporation
Tel: 713-993-5014/Fax: 713-993-5898
Please reply to: [email protected]
Visit us on our Website at www.eott.com
----- Forwarded by Lynette LeBlanc/Houston/Eott on 05/31/01 02:50 PM -----
Lynette LeBlanc 05/30/01 02:54 PM To: Kelly Clark/Houston/Eott@Eott, Diane Corbett/Long_Beach/Eott@Eott, Jesse Hernandez/Houston/Eott@Eott, Joe Hullings/Remote/Eott@Eott, Mike Reed/Long_Beach/Eott@Eott, James Roberts/Remote/Eott@Eott, Sonny Uzzle/Houston/Eott@Eott, Greg Wheeler/Remote/Eott@Eott, Christine Andress/Houston/Eott@Eott, Brandon Brunson/Midland/Eott@Eott, Mike Ditmore/Midland/Eott@Eott, Larry Garrett/Long_Beach/Eott@Eott, Jackie Heckman/Remote/Eott@Eott, Stevens Hollister/Remote/Eott@Eott, Kari Kaiser/Bakersfield/Eott@Eott, Harry King/Remote/Eott@Eott, Larry Lane/Remote/Eott@Eott, Paul Marchi/Long_Beach/Eott@Eott, Gary Moore/Midland/Eott@Eott, Lance Nash/Houston/Eott@Eott, Bobby Petitfils/Remote/Eott@Eott, Vic Porter/Remote/Eott@Eott, Kenneth Reasnor/Remote/Eott@Eott, Jeffrey Sage/Remote/Eott@Eott, George Strecker/Remote/Eott@Eott, Bruce Taton/Remote/Eott@Eott, Rodney Taylor/Remote/Eott@Eott, Mike Watson/Remote/Eott@Eott, Ken Wise/Remote/Eott@Eott, Jeanette Cummings/Houston/Eott@Eott, Lonnie Hurst/Remote/Eott@Eott, Dena Lawrence/Houston/Eott@Eott, Vickie Martinez/Houston/Eott@Eott, Sandy McDowell/Remote/Eott@Eott, Priscilla Norton/Houston/Eott@Eott, Sherry Scales/Houston/Eott@Eott, Shelly Worrell/Houston/Eott@Eott, Kevin Coit/Long_Beach/Eott@Eott, Audrey Gothard/Houston/Eott@Eott, Dru Heim/Long_Beach/Eott@Eott, Patty Knowlan/Houston/Eott@Eott, Lisa Meyer/Houston/Eott@Eott, Maria Moran/Houston/Eott@Eott, Wilma Sheffield/Houston/Eott@Eott, Brian Simmons/Remote/Eott@Eott, Kevin Tyler/Houston/Eott@Eott, Karen Walker/Houston/Eott@Eott, Robin Border/Houston/Eott@Eott, Lawrence Clayton/Houston/Eott@Eott, Jim Coen/Houston/Eott@Eott, Dan Cole/Remote/Eott@Eott, Steve Comstock/Remote/Eott@Eott, Mary Ellen Coombe/Houston/Eott@Eott, David Hultsman/Houston/Eott@Eott, Bob Jacobs/Long_Beach/Eott@Eott, Jimmy Lee/Houston/Eott@Eott, Lori Maddox/Houston/Eott@Eott, Steve Myers/Houston/Eott@Eott, Jim Parmer/Houston/Eott@Eott, Susan Ralph/Houston/Eott@Eott, Molly Sample/Houston/Eott@Eott, Robert Sanford/Houston/Eott@Eott, Jon Trevelise/Houston/Eott@Eott, Gary Wright/Houston/Eott@Eott cc: Robin Border/Houston/Eott@Eott, Dan Cole/Remote/Eott@Eott, Steve Comstock/Remote/Eott@Eott, Diane Corbett/Long_Beach/Eott@Eott, Joe Hullings/Remote/Eott@Eott, Bob Jacobs/Long_Beach/Eott@Eott, Kevin Lee/Long_Beach/Eott@Eott, Paul Marchi/Long_Beach/Eott@Eott, Lisa Meyer/Houston/Eott@Eott, Steve Myers/Houston/Eott@Eott, Bennie Orr/Remote/Eott@Eott, Mike Reed/Long_Beach/Eott@Eott, James Roberts/Remote/Eott@Eott, Robert Sanford/Houston/Eott@Eott, Sonny Uzzle/Houston/Eott@Eott, Greg Wheeler/Remote/Eott@Eott, Lawrence Clayton/Houston/Eott@Eott, Dana Gibbs/Houston/Eott@Eott, Bob Barnett/Houston/Eott@Eott, Steven Grajek/Houston/Eott@Eott, Beth Velasquez/Houston/Eott@Eott Subject: Midyear PEP - EMPLOYEE ACTION REQUIRED
Your position has been identified to participate in the 2001 Mid Year Performance Enhancement Process. During this process you will:
Choose reviewers who may provide feedback on your performance
Complete a self evaluation form to provide feedback on your own performance as well as highlight your accomplishments during the review period.
CHOOSE YOUR REVIEWERS BY JUNE 8, 2001
Identify up to 5 names of suggested reviewers. These names should be sent to your reviewing supervisor. Your supervisor may use the suggested names and add reviewers they choose.
As you are choosing reviewers for yourself, please remember the following:
Choose no more than 5 reviewers who are familiar with your work over the past 6 months and who interact with you on a regular basis
Reviewers could be your direct reports, a peer, an internal client or an external business associate (an external business associate is someone who works outside of EOTT)
Reviewers may not be your supervisor, your reviewing supervisor or yourself
Email your suggested reviewer names to your reviewing supervisor NO LATER THAN JUNE 8, 2001. Your supervisor will then communicate directly with the identified reviewers regarding completing a Peer/Customer Feedback form. All Feedback Forms will be kept totally confidential.
COMPLETE AND SUBMIT SELF EVALUATION FORM BY JUNE 15, 2001
Complete a Self Evaluation form and submit it to your reviewing supervisor BY JUNE 15, 2001. The information will be used by your supervisor, along with the peer/customer feedback, to complete your comprehensive performance evaluation.
To access the form:
Go to the Forms page on the EOTT Intranet
Under Browse Forms by Category, choose Performance Enhancement Process
Choose the Form which applies to your position. The forms are grouped by the level of employee being reviewed:
Management/Professional - all exempt level employees (employees who do not receive overtime pay), with the exception of Officers and General Managers
Vice President/Managing Director - Officers and General Managers
Follow the instructions on the 2nd page of the form for completing and saving the form. Do not complete the form until you have saved it to a private drive.
Suggested Time Table
2001 Mid Year PEP
Action Targeted Date
HR sends all employee kickoff communication May 25
HR sends communication to affected reviewing supervisors May 25
HR sends request for peer/customer reviewers & completion of Self Evaluation document to participating employees May 30
Names of Reviewers due back to supervisor June 8
Supervisor sends email to multiple reviewers requesting completion of Peer/Customer Feedback document June 11 - June 15
Employee Self Evaluation Form due to Supervisor June 15
Peer/Customer Feedback documents due back to Supervisors June 22
After receiving Feedback Forms and Self Evaluation Form, Supervisor completes preliminary Supervisor Evaluation Form with rating and submits rating via email to HR June 22 - June 29
Senior Leadership Committee Review July 16 - July 25
HR sends Committee ratings to supervisors July 25 - July 27
Supervisor finalizes Evaluation Form and rating July 31 - August 1
Supervisor conducts individual Employee review conference August 1 - August 8
The HR Staff welcomes the opportunity to discuss the PEP process. If you have any questions, please feel free to call Bob Barnett at ex. 5003 or myself at ex. 5014.
Lynette LeBlanc, PHR
Manager, HR Client Services
EOTT Energy Corporation
Tel: 713-993-5014/Fax: 713-993-5898
Please reply to: [email protected]
Visit us on our Website at www.eott.com |
FYI. It appears that this scam, which, as you know, we have seen in many letters over the years, has made its way onto the net. I have advised Joannie that she should not respond to this. Jim
-----Original Message-----
From: Williamson, Joannie
Sent: Wednesday, March 21, 2001 7:24 AM
To: Derrick Jr., James
Subject: URGENT RESPONSE REQUIRED
Thought you should see this.
Thanks,
Joannie
---------------------- Forwarded by Joannie Williamson/Corp/Enron on 03/21/2001 07:18 AM ---------------------------
rasheed mohammed <[email protected]> on 03/20/2001 04:32:24 PM
To: [email protected]
cc:
Subject: URGENT RESPONSE REQUIRED
.
Dear Friend,
I am Dr Rasheed Mohammed, the newly appointed head of
the Foreign Remittance Department in the Central Bank
of Nigeria (CBN). I got your contact from a business
directory of your country and based on your business
activities and the type of investment I have in mind,
I found you to be the most suitable person for the
transaction stated below.
Before I proceed, I want to strongly advice that you
devoid yourself from the general conception you have
about Nigerians. I would like you to carefully study
this proposal without bias, since it would be relevant
in our lives.
It is a usual practice in Nigeria for ministers and
high-ranking government officials to divert
government's money into their private accounts; this
is usually done through CBN with the connivance of
senior officials. The ministers and military generals
especially during the era of late general sani Abacha,
achieve this by diverting most of the funds, meant for
the development of their respective agencies and
ministries into the CBN escrow accounts. Usually it is
this same escrow account that holds funds for the
payment of foreign contracts. With the help of the
inside officials, the minister or senior government
officials and military generals would now create
themselves or employ the assistance of a foreign
partner to create them as artificial contractors,
using fiticious documents to remit the deposited money
to the nominated bank account of their foreign
partners. In this case the money is treated as payment
for foreign contract, and there is no trace. This is
how federal government's money is siphoned on a
regular basis, to the extent that most people now
result to letter scams and fraud due to the knowledge
they have about it.
Due to the impromptu removal of my successor from the
central bank, he did not have enough time to perfect
and tidy up the transactions they have in place. So
the funds are now trapped at the central bank escrow
account with no records. I just discovered this in a
bid to fulfill my obligation to submit the state of
our escrow account to the federal government and the
governor of CBN before I commence any foreign payment.
I am conducting a sort of reconciliation of our escrow
account to declare to the government the total amount
that have been spent in the last three years and what
it was spent for. So, in the course of carrying out
the above exercise, I discovered a total sum of
$150MILLION in the escrow account that is unknown to
anyone and with no records. My intention is to reveal
about USD $100M to the federal government so that I
can be in his good books and make arrangement to
transfer the outstanding USD $50M into a safe account
abroad. It is based on this that I am making this
urgent contact with you.
However, I am doing this because of the nature of my
job. I am a civil servant that is poorly paid and more
so, there is no way I can remain in this office
forever. I have children to cater for even when I
retire as the director, which is just next year. So, I
need something tangible to fall back on when I retire.
Besides, if I declare the total funds to the
government, it would probably go into the pockets of a
few people that control the government. This is to
enlighten you on the degree of corruption in Nigeria.
So, do not blame me for my action because you would do
the same if you were in my shoes, knowing fully well
that there will be no compensation even if you
disclose everything to the government.
Well, I have discovered that I can transfer this money
if we could quickly create you as an artificial
contractor, by using your company document and Bank
account to receive the money, in the same way my
successor transferred theirs. The only difference is
that the final payment is going to be made to your
named company through any of our correspondent payment
center in Europe or America, due to the policies
adopted by the new democratic government.
The entire process is not easy, but it is achievable
due to my position in the foreign remittance
department of the CBN, and the relationship I have
with the present director of external payment and
finance of the federal ministry of finance.
The entire operation will be between the three of us:
(I) I shall take care of all documentation, (ii) My
friend in the federal ministry of finance will take
care of all lobbying and use of influence to get all
documentation, (iii) You shall take care of the
banking arrangements, provide the needed invoices to
enable us apply for claims and approvals and travel as
the beneficiary to receive the funds from the payment
center you shall be paid from.
After we have succeeded in transferring this funds,
20% shall be retained by you for your assistance, 5%
for the settlement of all debts we might incur in the
course of this transaction and the remaining 75% shall
be for me and my colleague, which we would possibly
invest in into your company or any viable business
venture you suggest.
If you are comfortable with this programme please
revert to me at once via telephone number
234-1-7593507 or fax number 234-1-7590440. Should your
response be positive, I would then instruct on the
next step to take.
Due to security reasons, when you call, do not ask for
any name, simply ask me to reconfirm the telephone
number. Once I reconfirm my number to be
234-1-7593507, you can then mention my name before you
go into any discussion. If I fail to reply correctly,
do not wait for a second trial, just drop the phone
and call back later.
We demand a quick response from you. Any delay might
result in contacting someone else. Irrespective of
what happens, we count on your maturity to keep the
transaction to yourself. So, you are advised to treat
this transaction with utmost confidentiality.
Looking forward to your urgent response.
Yours faithfully,
Dr Rasheed Mohammed
__________________________________________________
Do You Yahoo!?
Get email at your own domain with Yahoo! Mail.
http://personal.mail.yahoo.com/
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INTERNET STOCK NEWS [tm]
http://www.123jump.com
ISN Ones to Watch 1/14/2002: A Visit To HQ In South Beach
_______________________________________________________________
TABLE OF CONTENTS
1. Overall Sentiment
2. Observations
3. A Visit To HQ In South Beach
4. Sonny T. Crosses The Line
5. Comment Welcomed
---------------------------SPONSOR----------------------------
New FREE Report. "Armadillo Stocks: 5 Investments That Win By
Never Losing" shows how to make BIG PROFITS without big risks.
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-----------------------------***------------------------------
1. Overall Sentiment
The popular averages traded higher in the first five days
of the market week for Jan. 7-11, confirming the so-called
January Barometer that says that if the first five trading
days are positive, then this bodes well for the remainder
of the year.
This doesn't mean that the popular averages won't
experience one or two relatively serious stumbling blocks
by the end of the last trading session of 2002.
During the past five days, the Standard & Poor's 600 Small
Cap Index reached an all-time high, giving further
confirmation that small cap stocks will reward investors in
2002.
But what about the Big Cappers such as Microsoft, IBM, Sun
Microsystems, Cisco Systems?
In my view, I figure these companies won't surprise Wall
Street by announcing that they've entered into Chapter 11
bankruptcy the way Enron and Exodus Communications did in
2001.
Of course, the speculators went after Enron and Exodus
after the bad news, figuring this is where we can make a
double, triple, much less God knows how rich we can get if
these companies actually come back from the abyss.
If this is all Wall Street has to offer in the year 2002:
speculating in busted companies and forget about an
economic recovery and all that such a concept implies, then
let's hope that more companies go bankrupt.
In other words, you buy them at 0.035 a share and sell them
at 0.07 a share and you've doubled your investment.
Still, that's a double, and who can argue with that?
Speaking of doubles, a lot of beaten up Internet stocks
from the 1998-2000 Era have doubled off the lows since the
9/11 Attack on America.
But will they be the 10-Baggers of 2002?
2. Observations
The price for a gallon of regular gasoline remained the
same: $1.07.99, since my last once-a-week taxi ride to the
supermarket.
Despite the attempts of OPEC to create a bull market in oil
futures, the February contract for West Texas Intermediate
Crude that trades at the New York Mercantile Exchange went
out at $19.68 a barrel on Friday, Jan. 11.
On Friday, Jan. 4, the nearby contract closed at $21.62 a
barrel.
That meeting between President George W. Bush and Russian
Premier Vladimir Putin last December is having its effects
on the international crude oil markets.
In my view, we're still dependent on oil and natural gas to
keep the U.S. economy humming, much less the rest of the
world.
3. A Visit to HQ In South Beach
This newsletter will be relatively short by default.
I was scheduled to show up at 123Jump.com headquarters at
407 Lincoln Rd. in Miami Beach on Monday afternoon, Jan.
14.
My CEO, Manish Shah, phoned me Friday evening, Jan. 11,
with instructions that I show up in Miami Beach sometime
Sunday, Jan. 13.
This is a situation of "you gotta do what you gotta do."
I want to apologize for not providing more "insight" that
some readers think I seem to possess in this week's
newsletter.
I compile the basic outline for this newsletter over the
weekend and then finish it on Mondays prior to publication
on Tuesday.
4. Sonny T. Crosses The Line
In my regular e-mail and telephone conservations with Sonny
T., the former International Business Machines employee
turned full-time trader, I have learned that he is filing
with the Internal Revenue Service for full-time trader
status.
That is a major step.
Basically, what it amounts to, for better or for worse, is
that one says, "I am a trader."
Still, as we all know, that climb up the mountain begins
with that first step.
---------------------------SPONSOR----------------------------
New FREE Report. "Armadillo Stocks: 5 Investments That Win By
Never Losing" shows how to make BIG PROFITS without big risks.
It's FREE. Nothing to buy, try or cancel. Click here:
http://www.ppi-orders.com/index.htm?promo_code=0ZX138
-----------------------------***------------------------------
5. Comment Welcomed
A resident of Wilmington, NC, Dave Jennings performs market
research for Ticker magazine, a monthly publication for
financial professionals. Dave enjoys reader comment and
replies to all e-mails. He can be reached at
[email protected] or [email protected].
---------------------------------------------------------------
INTERNET STOCK NEWS (ISN) (c) 2001
Disclaimer: The material herein is for informational
purposes only and should not be deemed an offer or
solicitation on our part with respect to the sale or
purchase of any securities.
http://www.123jump.com/disclaimer.htm
---------------------------------------------------------------
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To Cancel your subscription please go to:
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no. Let me try and catch up with Rich.'
DS
-----Original Message-----
From: Lindberg, Lorraine
Sent: Wednesday, October 03, 2001 11:06 AM
To: Schoolcraft, Darrell
Subject: FW: NGPL Eddy Co.
Darrell - Did you ever find out what we have on the Atoka points regarding sulfur monitor?
-----Original Message-----
From: Jolly, Rich
Sent: Tuesday, October 02, 2001 3:38 PM
To: Lindberg, Lorraine; Frazier, Perry
Cc: Bailey, Arnie
Subject: RE: NGPL Eddy Co.
Lorraine after looking over what volumes we'll be receiving we'll be needing a total sulphur instrument at this location. I understand NGPL has one at the Indian Basin Plant which is an Old Barton Recorder type. These type of instruments will not pick up all the sulphur we're experiencing out of the field in that area. We have instruments that will pick up butyl sulphur along with many others that most other companies equipment can't read at this time. We're also experiencing large amounts of butyl which is a major problem for us in the Atoka field. By receiving this into our system we're having to batch or inject corrosion inhibitor's in our pipelines for protection. This is a cost to operations that we need to get a handle on. Thanks for your help in this matter
RJ
---------------------- Forwarded by Rich Jolly/ET&S/Enron on 10/02/2001 02:18 PM ---------------------------
<< OLE Object: Picture (Device Independent Bitmap) >>
Rich Jolly
10/02/2001 11:07 AM
To: Arnie Bailey/ET&S/Enron@ENRON
cc: Perry Frazier/ENRON@enronXgate, "[email protected]@ENRON" <[email protected]>@SMTP@enronXgate, Earl Chanley/ENRON@enronXgate, Darrell Schoolcraft/ENRON@enronXgate, Team Artesia/ET&S/Enron@ENRON, Dennis Alters/ENRON@enronXgate
Subject: RE: NGPL Eddy Co. << OLE Object: StdOleLink >>
Perry I agree with Arnie and the team. In order to keep our pipelines in good shape we need to know what we are receiving, especially from these larger delivery points. It seems like every time we agree to something different than what we require operations has to go back to marketing for dollars or put in equipment to correct the situation. We're trying to cover all bases up front so this doesn't happen in the future.
Thanks
RJ
<< OLE Object: Picture (Device Independent Bitmap) >> From: Arnie Bailey 10/01/2001 02:59 PM
To: Perry Frazier/ENRON@enronXgate
cc: "[email protected]@ENRON" <[email protected]>@SMTP@enronXgate, Earl Chanley/ENRON@enronXgate, Darrell Schoolcraft/ENRON@enronXgate, Team Artesia/ET&S/Enron@ENRON, Dennis Alters/ENRON@enronXgate, Rich Jolly/ET&S/Enron@ENRON
Subject: RE: NGPL Eddy Co. << OLE Object: StdOleLink >>
Perry,
The Artesia Team and I still have concerns about having no total sulfur monitor at the location. We are already taking gas that has high total sulfur at Atoka 2. Since we have started using sulfur instruments that pick up Butyl Sulfur, we are almost always over .75 grains at Atoka 2 into the West Texas lateral. The instruments that NGPL uses at the Indian Basin plant may not see Butyl Sulfurs. If this it the case, we may have the same problem that we have at Atoka 2. If we don't have enough other inputs to blend the gas, this can become a quality problem for deliveries at other locations.
Since this is a 50mmcfd input to our system, I sure think we need the protection.
Thanks, Arnie
From: Perry Frazier/ENRON@enronXgate on 09/28/2001 10:48 AM CDT
To: "[email protected]@ENRON" <[email protected]>@SMTP@enronXgate, Earl Chanley/ENRON@enronXgate
cc: Darrell Schoolcraft/ENRON@enronXgate, Arnie Bailey/ET&S/Enron@ENRON, Team Artesia/ET&S/Enron@ENRON, Dennis Alters/ENRON@enronXgate
Subject: RE: NGPL Eddy Co.
Laura & Earl:
Planning and Gas Control can accept control valve operation by NGPL, which is included in the current drawings. The installation of 2 control would give us problems with them fighting each other. We have an OBA with NGPL, and we will monitor their future compliance to volume requirements. We might have to address in this in the future if the fail to comply, but for now we're okay.
NGPL has basically the same tariff as TW and they feel protected from total sulfur at the tailgate of the Indian Basin Plant. The Delmar H2S at the NGPL/TW point will protect us both from H2S. We may want to grab a sample from the IB plant to baseline the current sulfur content and verify accuracy. Darrell and myself are comfortable with the current plans, to not install total sulfur at our interconnect with NGPl. The cost of this new instrument is around $40,000 and I don't believe either company has plans to replace, NGPL total sulfur instrument.
Arnie and Terry, please review and let us know if Operations can comply with our findings. I am sure this can be resolve to our mutual agreement.
PTF 713-853-0667
-----Original Message-----
From: [email protected]@ENRON [mailto:[email protected]]
Sent: Thursday, September 27, 2001 2:28 PM
To: Frazier, Perry
Subject: FW: NGPL Eddy Co.
Here are the meeting notes. ljk
<<mtg notes on NGP Eddy IC.doc>>
> -----Original Message-----
> From: Laura Kunkel
> Sent: Thursday, September 27, 2001 1:21 PM
> To: '[email protected]'
> Cc: Earl Chanley (E-mail)
> Subject: NGPL Eddy Co.
>
> PT; Attached are the notes from the meeting with NGPL, aka Kinder Morgan,
> at the NGPL Eddy County Interconnect yesterday. Earl has asked me to
> submit a work order for TW's work on this project and before I do that, I
> need some answers on the marketing issues that we discussed on the phone
> yesterday. Mainly, I need to know if I should plan on using NGPL's valve
> for flow control, or if I should plan to install a new one.
> Would it be possible to have an answer on that by the close of
> business tomorrow? NGPL has a required in-service date of 12-30-01 and
> are planning to have everything ready to flow gas by 12-15-01, which
> doesn't give us much time to get a flow control valve ordered, if one is
> required, not to mention the Bristol.
> Laura J. Kunkel
> Project Manager
> Trigon-Sheehan, LLC
> 505/627-9124
> [email protected]
>
- mtg notes on NGP Eddy IC.doc << File: mtg notes on NGP Eddy IC.doc >> |
Tim
Give me a call on this I don't understand.
John
-----Original Message-----
From: Belden, Tim
Sent: Wednesday, February 14, 2001 5:25 PM
To: Lavorato, John; White, Stacey; Beck, Sally; Beth Perlman/HOU/ECT@ENRON; Nat, Steve
Subject: Potential Gas System Exposure
For some period of time, various West Power desks have been the default desk which received gas positions for new books that were not properly setup in TAGG. I have worked with our risk team and the techology group to get West Power out of this problem. I'm happy with the result from the West Power point of view.
I am writing to alert you that one half of the problem still exists. If someone does a gas deal and hasn't set up a new book properly and doesn't carefully track his/her position, the trade goes into a dummy book that nobody manages. Days, weeks, or months later you discover the trade and take the hit or the gain. I think that this risk is real because we were the ones finding the misplaced gas trades before -- not the gas desk with the misplaced trade. Now nobody will find them unless the gas trader realizes that some of his/her position is missing.
These are the facts as I understand them. I'm sure that Stacey White, Steve Nat, and Monica Lande could fill you in with more detailed information. Let me know if I can be of further assistance.
---------------------- Forwarded by Tim Belden/HOU/ECT on 02/14/2001 02:18 PM ---------------------------
Monica Lande
02/14/2001 02:34 PM
To: Tim Belden/HOU/ECT@ECT
cc: Fran Chang/PDX/ECT@ECT, Valarie Sabo/PDX/ECT@ECT, Samantha Law/PDX/ECT@ECT
Subject: RE: Remaining problem with West tot << OLE Object: StdOleLink >>
Tim,
Steve has described the problem accurately. Setting up a dummy book solves the problem for us, but not for Enron as a whole. If no one monitors the dummy book on the daily basis (which probably won't happen if there is no ownership), then you still have the possibility of positions falling into that book and never showing up in the book that they were intended. Why can't a process be put in place for the initial set-up of a book in TAGG?
Monica
To: Fran Chang/PDX/ECT@ECT, Monica Lande/PDX/ECT@ECT, Valarie Sabo/PDX/ECT@ECT, Samantha Law/PDX/ECT@ECT
cc:
Subject: RE: Remaining problem with West tot
do you guys agree?
---------------------- Forwarded by Tim Belden/HOU/ECT on 02/14/2001 01:23 PM ---------------------------
From: Steve Nat/ENRON@enronXgate on 02/14/2001 03:49 PM CST
To: Tim Belden/HOU/ECT@ECT, Stacey W White/HOU/ECT@ECT
cc: Beth Perlman/ENRON@enronXgate
Subject: RE: Remaining problem with West tot
Tim, The root problem was related to the default mapping logic in the 'interface' job that moves the ERMS gas calc results to the portcalc results tables. If mapping logic is not set up for a new book, the job was defaulting the gas deals to the ST-PLT desk. The default mapping has been changed to a dummy ZZ_erms book, which will prevent the deals from showing up in the wrong book if the mapping logic is not updated.
In reference to Beth's concerns... turns out this was a limitation in our production code, not an IT change to production data, so we should be OK on that front.
The long-term solution would be to remove the hard-coded logic, set-up table structures, and maintain the mapping rules through a user screen. Given our other priorities, and the default logic change, we will not pursue this option.
Let me know if you have any other questions or concerns.
Steve
-----Original Message-----
From: Belden, Tim
Sent: Wednesday, February 14, 2001 11:49 AM
To: White, Stacey
Cc: Perlman, Beth; Nat, Steve
Subject: RE: Remaining problem with West tot
thanks for the concise description of the problem. i should have cc'd you on the original message. your description is much better than mine. now that beth has a better understanding of the issue, how long will it take to get solved!?
To: Beth Perlman/ENRON@enronXgate @ ENRON
cc: Tim Belden/HOU/ECT@ECT, Steve Nat/ENRON@enronXgate@ENRON
Subject: RE: Remaining problem with West tot << OLE Object: StdOleLink >>
The problem is not that we should enter a reversing trade in the system as this would misrepresent the positions across the board. The problem is that the position belongs to another book within Enpower. The users have no access to the screens which define where our gas books are mapped in Enpower; therefore, IT has to manually define the correct mapping for us. When the manual fix has not been made, we have true positions for one book mapped to another book.
Stacey
From: Beth Perlman/ENRON@enronXgate on 02/14/2001 11:14 AM
To: Tim Belden/HOU/ECT@ECT, Steve Nat/ENRON@enronXgate, Stacey W White/HOU/ECT@ECT
cc:
Subject: RE: Remaining problem with West tot
Tim,
Sorry about this. A better question to ask is why are systems people manipulating data? Why can't the users put on a reversing trade? I'm having fits about IT resources touching production data and I can't tell you how many times we screw ourselves up because IT does this.
I'll let you know the end result. Sorry again, but these practices have to stop!
Beth
-----Original Message-----
From: Belden, Tim
Sent: Wednesday, February 14, 2001 7:59 AM
To: Beth Perlman/HOU/ECT@ENRON
Subject: Remaining problem with West tot
words cannot describe how distressing this problem is. in terms of mis-reporting our risk, we are dropping mmbtu's from some other book into our book as mwhs. mmbtus go for around $10. mwhs go for around $400. why is this problem so hard to fix?
---------------------- Forwarded by Tim Belden/HOU/ECT on 02/14/2001 04:58 AM ---------------------------
<< OLE Object: Picture (Device Independent Bitmap) >>
Fran Chang
02/13/2001 06:27 PM
To: Tim Belden/HOU/ECT@ECT
cc: Monica Lande/PDX/ECT@ECT, Valarie Sabo/PDX/ECT@ECT, Samantha Law/PDX/ECT@ECT
Subject: Remaining problem with West tot
Tim:
Please note that as of 2/13 there will still be 1,321 MWhs of Nymex Swap position in ST-PLT book (COB) which is yet to be cleared out by IT. I have sent out an email to Norman Lee in IT and will follow up with him to make sure this problem is removed asap. (The "unknown" position of the -311,354 MWhs showing up on 2/12 has already been taken cared of.)
Regards,
Fran
x7973
<Embedded Picture (Device Independent Bitmap)> |
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/09/2001
08:59 AM ---------------------------
Enron North America Corp.
From: Sherri Sera @ ENRON 02/09/2001 08:38 AM
To: Steven J Kean/NA/Enron@Enron, John J Lavorato/Corp/Enron, David W
Delainey/HOU/ECT@ECT, Louise Kitchen/HOU/ECT@ECT
cc:
Subject: URG: Gas Securitization Agreements
FYI - SRS
---------------------- Forwarded by Sherri Sera/Corp/Enron on 02/09/2001
08:39 AM ---------------------------
"Jauregui, Robert M" <[email protected]> on 02/08/2001 07:55:44 PM
To: "'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'randall.o'[email protected]'"
<randall.o'[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "Buchsbaum, Craig M (Corp)"
<[email protected]>, "Whelan, Steve (Corp)"
<[email protected]>, "Lee, Fanny" <[email protected]>, "Berkovitz, Trista"
<[email protected]>, "Clare, David" <[email protected]>, "Woo, Shirley A (Law)"
<[email protected]>, "McLafferty, Daniel" <[email protected]>, "Cotroneo, Eileen"
<[email protected]>, "'[email protected]'" <[email protected]>, "Litteneker, Randall
(Law)" <[email protected]>, "Gee, Dennis" <[email protected]>, "Welch, Ray"
<[email protected]>
Subject: URG: Gas Securitization Agreements
I am pleased to report that, as 2/8/01, 4:00pm PST, PG&E has executed the
gas supplier security agreement and the intercreditor agreement with the
following suppliers:
* BP Energy Company
* Dynegy Canada Marketing & Trade, A Division of DCI
* Dynegy Marketing & Trade
* El Paso Merchant Energy, L.P.
* Texaco Canada
* Texaco Natural Gas
* TXU Energy Trading Canada Limited
* TXU Energy Trading Company
* Williams Energy Marketing & Trading Co. (US & Canada)
As you know, other suppliers are not precluded from future participation (we
highly encourage it) however, we will now require completion of Exhibit B
(Supplier Joinder Agreement) as outlined in 8.(j). I would greatly
appreciate your replying to this email to let us know whether you intend to
be a party to these agreements at this time.
Please call if you have any questions.
Please forward all correspondence to:
Trista Berkovitz
Director, Gas Procurement
Pacific Gas and Electric Company
77 Beale Street, Room 553
San Francisco, CA 94105-1814
415. 973.2152 (bus)
415.973.9213 (fax)
NOTICE TO RECIPIENT: THIS E-MAIL IS MEANT FOR ONLY THE INTENDED RECIPIENT
OF THE TRANSMISSION, AND MAY BE A COMMUNICATION PRIVILEGED BY LAW. IF YOU
RECEIVED THIS E-MAIL IN ERROR, ANY REVIEW, USE, DISSEMINATION, DISTRIBUTION,
OR COPYING OF THIS E-MAIL IS STRICTLY PROHIBITED. PLEASE NOTIFY US
IMMEDIATELY OF THE ERROR BY RETURN E-MAIL AND PLEASE DELETE THIS MESSAGE
FROM YOUR SYSTEM. THANK YOU IN ADVANCE FOR YOUR COOPERATION. |
COLUMBIA GAS TRANSMISSION CORPORATION
NOTICE TO ALL INTERESTED PARTIES
OCTOBER 25, 2001
Notice ID: 3211
5 - NO RESPONSE REQUIRED
SUBJECT: REVISED-CAPACITY UPDATE EFFECTIVE FOR SATURDAY, OCTOBER 27, 2001 AND
SUNDAY, OCTOBER 28, 2001
CHANGES ARE INDICATED WITH AN *
Effective Saturday, October 27, 2001 and Sunday, October 28, 2001, capacities
will be as follows:
Excess MDWQ Available +
ISS Withdrawals Available
SIT Withdrawals Available
Imbalance Drawdowns Available
Excess MDIQ Available + *
ISS Injections Available *
SIT Injections Available *
Imbalance Paybacks Available *
PAL Lends/Unparks Available
PAL Parks/Loan Paybacks Available *
+ Call Gas Control 24 hours in advance at (304) 357-2606 to request approval.
Non-firm receipt capacity will be as follows:
TENNESSEE:
Brinker (B12) 20,000
Broad Run (B9) 300,000
Cambridge (B10) 20,000
Dungannon (B11) 20,000
Highland (B17) 0
NOTE: GAS RECEIVED AT HIGHLAND MUST BE DELIVERED IN THE NORTHERN PORTION OF
MARKET AREA 38 OR THE NORTHWEST LATERAL OF MARKET AREA 36, DIRECTLY NORTH OF
HIGHLAND.
Milford (B18) 20,000
North Greenwood (B22) 0
Unionville (B15) 50,000
NOTE: EFFECTIVE THURSDAY, AUGUST 16, 2001, ANY SHIPPER UTILIZING A CONTRACT
THAT HAS A PRIMARY RECEIPT POINT(S) WITH THE FOLLOWING POINTS, MUST UTILIZE
THESE POINTS:
Brinker (B12)
Cambridge (B10)
Dungannon (B11)
Highland (B17)
Milford (B18)
Unionville (B15)
TEXAS EASTERN:
Delmont (C16) 0
Eagle (C22) 20,000
Hooker (C9) 20,000
Pennsburg (C23) 20,000
Windridge (C12) 20,000
NATIONAL FUEL:
Independence (M1) 0
Ellwood City (L1) 15,000
TRANSCO:
Downingtown (E3) 2,500
Emporia I (E13) 2,500 *
Rockville (E2) 0
Dranesville (E1) 0
EQUITABLE GAS:
Hi Hat (F3) 0
KENTUCKY WEST VIRGINIA (KYWV):
Beaver Creek (H1) 0
CNR PIPELINE:
Boldman (CNR02) 0
Conoway (CNR03) 0
Johns Creek (CNR08) 0
Canada (CNR09) 0
Canada (CNR10) 0
Stafford (CNR11) 0
Thacker/Majestic (CNR12) 0
Briar Mtn. (CNR13) 0
Huff Creek (CNR14) 0
CONOCO: 0
Grant (P1) 0
NOTE: ANY APPALACHIAN PRODUCTION FLOWING DIRECTLY INTO COLUMBIA'S LINE KA
BETWEEN COLUMBIA'S BOLDMAN COMPRESSOR STATION AND COLUMBIA'S HUFF CREEK
COMPRESSOR STATION AS WELL AS PRODUCTION FLOWING INTO COLUMBIA'S LINES SM-116,
KA-15, PM-3, AND PM-17 IS 0 NON-FIRM.
ALGONQUIN:
Ramapo (R1) 75,000
ANR:
Paulding/Cecil 30,000
(F1, A2)
LEBANON AGGREGATE 100,000
(A4, F2, C4, D3)
TOLEDO AGGREGATE 100,000
(A3, F4, 734462)
COLUMBIA GULF:
(801)
TCO-Leach 700,000
Internal point non-firm capacity will be as follows:
Lanham 0
Delivery capacity (non-firm) will be as follows:
TRANSCO:
Martins Creek 10,000
(MLI E5)
Young Woman's Creek 10,000
(MLI E9)
ALGONQUIN:
Hanover 0
(MLI R2)
EQUITRANS:
Fallen Timber 31,000
(MLI K1)
Waynesburg-Rhinehart 20,000
(MLI K2)
OPT-30 will be available in all market areas.
OPT-60 will be available in all market areas.
Market Area delivery capacity (non-firm) will be as follows:
Operating Area 1
Market Area 33 No Restrictions
Market Area 34 No Restrictions
Operating Area 2
Market Area 20 No Restrictions
Operating Area 3
Market Area 15 No Restrictions
Market Area 16 No Restrictions
Market Area 17 No Restrictions
Market Area 18 No Restrictions
Market Area 19 No Restrictions
Operating Area 4
Market Area 21 No Restrictions
Market Area 22 No Restrictions
Market Area 23 No Restrictions
Market Area 24 No Restrictions
Market Area 25 No Restrictions
Market Area 29 No Restrictions
Operating Area 5
Market Area 02 No Restrictions
Market Area 07 No Restrictions
Operating Area 6
Market Area 10 No Restrictions
Market Area 11 No Restrictions
Market Area 12 No Restrictions
Market Area 13 No Restrictions
Market Area 14 No Restrictions
Operating Area 7
Market Area 01 No Restrictions
Market Area 03 No Restrictions
Market Area 04 No Restrictions
Market Area 05 No Restrictions
Market Area 06 No Restrictions
Market Area 08 No Restrictions
Market Area 09 No Restrictions
Operating Area 8
Market Area 26 No Restrictions
Market Area 27 No Restrictions
Market Area 32 No Restrictions
Market Area 35 No Restrictions
Market Area 36 No restrictions for southern part of Market Area 36.
Primary receipts/deliveries only for gas delivered
in the northern portion of Market Area 36.
Market Area 38 No Restrictions
Market Area 39 No Restrictions
Market Area 40 No Restrictions
NOTE: GAS DELIVERED IN THE NORTHERN PORTION OF MARKET AREA 38 OR THE NORTHERN
PORTION OF MARKET AREA 36 MUST BE RECEIVED FROM TENNESSEE GAS PIPELINE AT
HIGHLAND.
Operating Area 10
Market Area 28 No Restrictions
Market Area 30 No Restrictions
Market Area 31 No Restrictions
If you have any questions, please contact your Account
Representative. |
For those who have not seen this yet -
?
----- Original Message -----
From: Lisa Martin
To: [email protected]
Sent: Tuesday, May 08, 2001 11:48 AM
Subject: Cal-Tax e-Alert: Windfall Profits Tax
[IMAGE]
Cal-Tax e-Alerts keep you informed on key tax and public policy
issues?related to your industry as they develop.? We invite you to visit
Cal-Tax Online (http://www.caltax.org) for more information on this and
other Cal-Tax activities.? If you wish more information about Cal-Tax's
e-Alerts or Cal-Tax Online, please contact Greg Turner at [email protected]?
If you wish not to be included on future Cal-Tax e-Alerts, please contact
Betty Rickard at [email protected] and your address will be removed from our
distribution list.
May 8, 2001?
To:????????????Cal-Tax?Board of Directors and?Interested?Parties???
From:????????Ron Roach, Communications Director??
Subject:????Update of Windfall Profits Tax Legislation?
The following is advance Caltaxletter coverage of the May 7 California
Legislature's actions on two bills that would impose "windfall profits"
taxes on producers of electricity:??
?
SENATE APPROVES &WINDFALL PROFITS8 TAX AS ROLLING BLACKOUTS HIT??????
Nearly coinciding with rolling blackouts plaguing California for the first
time since mid-March, the Senate on Monday approved a &windfall profits8 tax
on energy producers (SB 1X, Soto). Critics said the measure establishes a
perverse tax incentive not to sell power in California and will reduce
electricity supply even further, increasing prospects of future blackouts.??
Twenty-five Democrats voted &aye8 on SB 1X, while 12 Republicans voted
against it. Because the bill did not pass with 27 votes, or two-thirds of
the Senate as required by Proposition 13, there will likely be a court
challenge on this point.
Meanwhile, just hours earlier, the Assembly Revenue and Taxation Committee
approved a slightly different version of a &windfall profits8 tax (AB 128X,
Corbett), despite the fact that the bill was substantially amended at the
hearing.
SB 1X imposes a 100 percent excise tax on sales of electricity at a price
above $80 per megawatt-hour. It also establishes a refundable tax credit
equal to the amount of revenue generated by the tax.
AB 128X establishes a retroactive (to January 1, 2001) sliding-scale tax of
50 percent of gross receipts on electricity sales over $60 per
megawatt-hour; 70 percent of the gross receipts of sales over $90 per
megawatt-hour, and 90 percent of gross receipts of sales over $120 per
megawatt-hour. The rate of tax can be changed &from time to time8 by the
California Public Utilities Commission. ?The bill will likely tax sales not
made in California, because it defines &sales of electricity to a retailer8
in California to be the higher of the ratio of sales in California to the
total sales or percentage of total electricity sales everywhere, using a
ratio of total sales everywhere in the year 2000 to sales in California in
the year 2000.?
Debate in the Senate was hotter than the 95-degree temperature outside.
Democrat Senator Steve Peace, who is generally given credit for pushing the
electricity deregulation bill through the Legislature in 1996, became highly
emotional in denouncing energy producers.?
Continuing to blame the California crisis on the Federal Energy Regulation
Commission (FERC), as well as Harvey Rosenfield,s Proposition 9, which
sought to unravel deregulation in 1998 and caused a two-year delay in
construction of additional power plants, Senator Peace called SB 1X the
&only reasonable alternative.8? He said it will bring competition to the
market with rules and &a referee who will blow the whistle.8 He described
FERC as &the proverbial cop in the donut shop who refuses to enforce the
law8 and limit what wholesalers can charge.?
Republican Senator Ray Haynes said the tax would not bring additional
electricity to Californians. &We are going to make sure by passing this bill
that the lights will go out,8 he said.??
Democrat Senator Debra Bowen said the prospect of taxing excess profits
&will grab (energy producers) by the horns and their hearts and minds will
follow.8?
Republican Senator Tom McClintock said the tax would cut supplies of
electricity, noting that other states, such as Texas and Nevada, are
building, or will build, power plants to serve California with investments
that benefit those states, economies, not California,s. &To make electricity
cheap, we have to make it plentiful. This is a very wrong step in a very
wrong direction,8 he said.?
At the Assembly committee hearing, numerous speakers sought to testify for
and against the bill. However, Democrat Assembly Member Helen Thomson
(chosen by Committee Chair Ellen Corbett to preside instead of the
Republican vice-chair, which in itself was unusual) limited testimony to two
witnesses on each side.?
Speaking for the tax were Jean Ross, executive director of the California
Budget Project, and Lenny Goldberg, of the California Tax Reform
Association, organizations funded largely by public employee unions or
liberal-leaning foundations that generally oppose tax relief and support
increased government spending. Ms. Ross urged immediate action, saying
consumers will be paying 1.5 percent of their income on power purchases in
the next year. Mr. Goldberg called the proposal a viable and realistic
solution, which he said he hopes is constitutional.??
Providing opposition testimony were Carrie-Lee Coke, representing the
California Manufacturers and Technology Association, and Steven Kelly of the
Independent Energy Producers.? Ms. Coke said the bill is a disincentive to
more supply and will make the current crisis worse. She said it also applies
to the cogeneration operations of California manufacturers. Mr. Kelly told
the committee that the bill jeopardizes plans for as much as $10 billion in
private capital investment in new California power plants.??
A number of others were allowed to state their affiliations and their
positions on the bill. Among supporters were the California Labor Federation
and the California Public Interest Research Group. Opposition included the
California Chamber of Commerce, InterGen, and BP?Amoco.?
Committee Member Elaine Alquist asked to be a co-author of the bill, saying
it is about time &we did something.8??AB 128X was approved by a 5-0 vote,
with Republicans abstaining. Assembly Member Mark Wyland said he abstained
because he believes that while California is being gouged by high energy
prices, the bill is anti-free market and incentives are needed to develop
more power to avoid blackouts.?
Meanwhile, Governor Gray Davis &is open to the idea8 of such a tax, but has
not endorsed either bill, said his press secretary, Steve Maviglio. &It just
depends on the bill.8??????
?
- e-alert3.gif |
I would agree with mae's philosophy, but I wonder if she has had the joy of
strolling on a beach looking hot in a string bikini.
Too many sundaes.
---------------------- Forwarded by Monique Sanchez/HOU/ECT on 12/12/2000
09:37 AM ---------------------------
Susan M Scott
12/12/2000 08:28 AM
To: [email protected], Monique Sanchez/HOU/ECT@ECT, [email protected],
[email protected] , [email protected] , [email protected],
[email protected], [email protected]
cc:
Subject: Fwd: hey, girlfriends!
---------------------- Forwarded by Susan M Scott/HOU/ECT on 12/12/2000 08:23
AM ---------------------------
Enron Capital & Trade Resources Corp.
From: "Emily Hillegeist" <[email protected]>
12/12/2000 03:40 AM
To: [email protected], [email protected], [email protected]
cc:
Subject: Fwd: hey, girlfriends!
>From: [email protected]
>To: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected]
>Subject: Fwd: hey, girlfriends!
>Date: Tue, 12 Dec 2000 04:30:16 EST
>
>
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From: "thesymingtons" <[email protected]>
To: "Maggie Symington" <[email protected]>
Subject: hey, girlfriends!
Date: Mon, 11 Dec 2000 17:15:45 -0000
MIME-Version: 1.0
Content-Type: text/plain; charset="iso-8859-1"
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Something fun to read!
>
> I WANT WHAT SHE'S HAVING
>
> >>>> I have a new delightful friend,
> > > > I am most in awe of her.
> > > > When we first met I was impressed,
> > > > By her bizarre behavior.
> > > >
> > > > That day I had a date with friends,
> > > > We met to have some lunch.
> > > > Mae had come along with them,
> > > > All in all ... a pleasant bunch.
> > > >
> > > > When the menus were presented,
> > > > We ordered salads, sandwiches, and soups.
> > > > Except for Mae who circumvented,
> > > > And said, Ice Cream, please: two scoops.
> > > >
> > > > I was not sure my ears heard right,
> > > > And the others were aghast.
> > > > Along with heated apple pie,
> > > > Mae added, completely unabashed.
> > > >
> > > > We tried to act quite nonchalant,
> > > > As if people did this all the time.
> > > > But when our orders were brought out,
> > > > I did not enjoy mine.
> > > >
> > > > I could not take my eyes off Mae,
> > > > As her pie a-la-mode went down.
> > > > The other ladies showed dismay,
> > > > They ate their lunches silently, and frowned.
> > > >
> > > > Well, the next time I went out to eat,
> > > > I called and invited Mae.
> > > > My lunch contained white tuna meat,
> > > > She ordered a parfait.
> > > >
> > > > I smiled when her dish I viewed,
> > > > And she asked if she amused me.
> > > > I answered, Yes, you do,
> > > > But also you confuse me.
> > > >
> > > > How come you order rich desserts,
> > > > When I feel I must be sensible?
> > > > She laughed and said, with wanton mirth,
> > > > I am tasting all that's possible.
> > > >
> > > > I try to eat the food I need,
> > > > And do the things I should.
> > > > But life's so short, my friend, indeed,
> > > > I hate missing out on something good.
> > > >
> > > > This year I realized how old I was,
> > > > She grinned, I've not been this old before.
> > > > So, before I die, I've got to try,
> > > > Those things for years I had ignored.
> > > >
> > > > I've not smelled all the flowers yet,
> > > > There's too many books I have not read.
> > > > There's more fudge sundaes to wolf down,
> > > > And kites to be flown overhead.
> > > >
> > > > There are many malls I have not shopped,
> > > > I've not laughed at all the jokes.
> > > > I've missed a lot of Broadway Hits,
> > > > And potato chips and cokes.
> > > >
> > > > I want to wade again in water,
> > > > And feel ocean spray upon my face.
> > > > Sit in a country church once more,
> > > > And thank God for It's grace.
> > > >
> > > > I want peanut butter every day,
> > > > Spread on my morning toast.
> > > > I want un-timed long-distance calls,
> > > > To the folks I love the most.
> > > >
> > > > I've not cried at all the movies yet,
> > > > Nor walked in the morning rain.
> > > > I need to feel wind in my hair,
> > > > I want to fall in love again.
> > > >
> > > > So, if I choose to have dessert,
> > > > Instead of having dinner.
> > > > Then should I die before night fall,
> > > > I'd say I died a winner.
> > > >
> > > > Because I missed out on nothing,
> > > > I filled my heart's desire.
> > > > I had that final chocolate mousse,
> > > > Before my life expired.
> > > >
> > > > With that, I called the waitress over,
> > > > I've changed my mind, it seems.
> > > > I said, I want what she is having,
> > > > Only add some more whipped-cream!
> > > >
> > > > Here is a little something for you all!
> > > > We need an annual Girlfriends Day!
> > > > If you get this twice,
> > > > then you have more than one girlfriend.
> > > > Be happy.
> > > >
> > > > ALL I NEED TO KNOW ABOUT LIFE I LEARNED FROM MY GIRLFRIENDS
> > > >
> > > > * Good times are even better when they're shared.
> > > > * A good long talk can cure almost anything.
> > > > * Everyone needs someone with whom to share their secrets.
> > > > * Listening is just as important as talking.
> > > > * An understanding friend is better than a therapist...
> > > > and cheaper too!
> > > > * Laughter makes the world a happier place.
> > > > * Friends are like wine; they get better with age.
> > > > * Sometimes you just need a shoulder to cry on.
> > > > * Great minds think alike, especially when they are female!
> > > > * When it comes to "bonding," females do it better.
> > > > * YOU ARE NEVER TOO OLD FOR SLUMBER PARTIES!!!!
> > > > * Girls just want to have fun.
> > > > * It's important to make time to do "girl things."
> > > > * Calories don't count when you are having lunch
> > > > (or any other food) with your girlfriends.
> > > > * You can never have too many shoes.
> > > > * GEMS MAY BE PRECIOUS, BUT FRIENDSHIP IS PRICELESS!!!
> > > >
> > > > PLEASE PASS THIS ON TO ALL OF YOUR GIRLFRIENDS |
Notice No. 00-338
October 3, 2000
MEMORANDUM
TO: ALL NYMEX AND COMEX MEMBERS
FROM: Neal L. Wolkoff, Executive Vice President
DATE: October 3, 2000
RE: Notice of CFTC Approval of New NYMEX Rule 6.40C: ("Average Price
Calculations by Futures Commission Merchants")
Please be advised that the CFTC has approved new NYMEX Rule 6.40C ("Average
Price Calculations by Futures Commission Merchants"), which is attached and
is now in effect.
New NYMEX Rule 6.40C, which is consistent with a recent CFTC "Advisory,"
permits FCMs, under certain conditions specified in the rule, to use their
own internal, proprietary systems to generate average price ("AP")
calculations when multiple prices are received on an order or series of
orders. AP calculations are not being provided by the Exchange for NYMEX
Division contracts.
New NYMEX Rule 6.40C is applicable only to NYMEX Division contracts. A
similar proposal for COMEX Division contracts remains pending with the CFTC.
The conditions specified in NYMEX Rule 6.40C include the following:
1. The customer has requested average price reporting;
2. Each individual trade is submitted to and cleared by the Exchange at the
executed price;
3. The FCM calculates and confirms to its customers a weighted mathematical
average price;
4. The FCM possesses the records to support the calculations and the
allocations to customer accounts and maintains all such records pursuant to
CFTC regulations and further makes such records available for inspection by
affected customers upon request; and
5. The FCM identifies each trade to which an average price is assigned as
having an average price on each confirmation statement and monthly statement
on which the trade is reported to the customer.
If you have any questions, please contact Tom LaSala, Vice President,
Compliance Department, at (212) 299-2897, or Brian Regan, Senior Associate
General Counsel, at (212) 299-2207.
Approved New NYMEX Rule 6.40C
("Average Price Calculations by Futures Commission Merchants")
(Entire rule is new.)
Rule 6.40C Average Price Calculations by Futures Commission Merchants
(A) Eligible Accounts. An FCM, subject to compliance with the conditions
specified in this rule, may report and/or confirm to customers an average of
multiple execution prices and may use its own proprietary system to make such
average price calculations, regardless of whether the Exchange also provides
a service for average price calculations for the applicable NYMEX Division
contract, provided:
(a) that such prices were obtained as the result of the execution of an order
or series of orders to purchase or sell the same futures and/or the same
option series for the same account or group of accounts; or
(b) that such prices were obtained as the result of the execution of trades
to purchase or sell the same futures and/or the same option series for the
FCM's proprietary account(s), provided further however, that trades for such
a proprietary account are not averaged with trades for any other account.
For purposes of this rule, eligible accounts may include multiple accounts
that are part of a managed account program or other common investment
program. Eligible accounts may include individual non-discretionary
accounts, except that prices for non-discretionary accounts may not be
averaged with prices for other non-discretionary accounts. Eligible accounts
also may include individual discretionary accounts consistent with the
provisions of Exchange Rule 6.41.
(B) An FCM may use its own system to calculate average prices for contracts
executed on the Exchange provided that the following conditions are met for
all such transactions:
1. The customer has requested average price reporting;
2. Each individual trade is submitted to and cleared by the Exchange at the
executed price;
3. The FCM calculates and confirms to its customers a weighted mathematical
average price, as calculated pursuant to the requirements of Section (C)
below;
4. The FCM possesses the records to support the calculations and the
allocations to customer accounts and maintains all such records pursuant to
CFTC regulations and further makes such records available for inspection by
affected customers upon request; and
5. The FCM identifies each trade to which an average price is assigned as
having an average price on each confirmation statement and monthly statement
on which the trade is reported to the customer.
(C) Calculation of Average Price. The weighted mathematical average price
shall be computed by FCMs by:
(a) multiplying the number of contracts purchased or sold at each execution
price by that price;
(b) adding the results together; and
(c) dividing by the total number of contracts.
For a series of orders, the average price may be computed based on the
average price of each order in that series.
FCMs may confirm to customers either the actual average price or the average
price rounded to the next price increment, provided however, that in
confirming the average price rounded to the next price increment, the FCM
must round the average price up to the next price increment for a buy order
or down to the next price increment for a sell order, and must pay any
residual thus created to the customer, except that any residual amount of
less than one cent may be retained by the FCM.
__________________________________________________
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Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.
We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.
It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:
-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;
-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;
-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;
-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and
-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.
We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.
Core Businesses
Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:
-- Natural gas pipeline businesses;
-- Gas and power businesses in North America and Europe;
-- Retail businesses in North America and Europe; and
-- Coal businesses in North America and Europe.
The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.
I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.
Non-Core Businesses
Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.
We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.
Businesses Under Review
These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.
Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.
Credit Rating/10-Q Filing
We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:
-- Moody's at Baa3 "Under Review for Further Downgrade"
-- Fitch at BBB- "Evolving Status"
-- S&P at BBB- "CreditWatch Negative"
We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.
We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."
In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.
In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron. |
Total Trades for Day 629
EOL Deals From: 11/01/2001 To: 11/13/2001 EnPower From: 11/01/2001 To: 11/13/2001
Desk Total Deals Total MWH Desk Total Deals Total MWH
EPMI Long Term California 373 5,787,856 EPMI Long Term California 36 1,256,554
EPMI Long Term Northwest 177 2,456,200 EPMI Long Term Northwest 76 2,553,393
EPMI Long Term Southwest 236 5,578,466 EPMI Long Term Southwest 201 7,778,128
EPMI Short Term California 1,036 1,262,040 EPMI Short Term California 375 935,081
EPMI Short Term Northwest 602 776,640 EPMI Short Term Northwest 249 495,213
EPMI Short Term Southwest 813 1,193,952 EPMI Short Term Southwest 404 1,674,462
Real Time 769 19,525 Real Time 271 26,026
Grand Total 4,006 17,074,679 Grand Total 1,612 14,718,858
EOL Deals From: 11/13/2001 To: 11/13/2001 EnPower From: 11/13/2001 To: 11/13/2001
Desk Total Deals Total MWH Desk Total Deals Total MWH
EPMI Long Term California 50 792,400 EPMI Long Term California 3 42,800
EPMI Long Term Northwest 24 474,600 EPMI Long Term Northwest 8 447,831
EPMI Long Term Southwest 41 1,090,821 EPMI Long Term Southwest 4 65,930
EPMI Short Term California 104 112,328 EPMI Short Term California 33 38,576
EPMI Short Term Northwest 76 72,400 EPMI Short Term Northwest 26 28,952
EPMI Short Term Southwest 112 148,200 EPMI Short Term Southwest 40 133,428
Real Time 77 1,925 Real Time 28 2,250
Grand Total 484 2,692,674 Grand Total 142 759,767
EOL Deals From: 11/13/2001 To: 11/13/2001 EOL Deals From: 11/13/2001 To: 11/13/2001
Long Term West Management Total Deals Total MWH Short Term West BOM Total Deals Total MWH
Daily 0 0 Daily 0 0
Month-to-Date EOL 9 2,200 Month-to-Date EOL 0 0
Enpower daily deals 0 0 Enpower daily deals 0 0
Month-to-Date Enpower 2 2,003 Enpower daily deals 0 0
EOL Deals From: 11/13/2001 To: 11/13/2001
EPMI California Services Total Deals Total MWH
Daily 0 0
Month-to-Date 0 0
Enpower daily deals 0 0
ICE Volumes From: 11/13/2001 To: 11/13/2001
Delivery Point Total MWH EPMI MWH Price
Cob (OP, Next Day) 400 0 $ 18.50
Cob (P, Next Day) 800 0 $ 24.00
Mid C (P, Next Day) 6,000 400 $ 23.67
Mid C (OP, Next Day) 600 0 $ 17.67
Mid C (OP, Bal Month) 13,200 8,800 $ 19.38
Mid C (P, Bal Month) 15,600 0 $ 24.42
Mid C (P, Dec-01) 110,000 0 $ 33.53
Mid C (P, Jan-02) 31,200 0 $ 34.27
Mid C (P, Mar-02) 41,600 0 $ 32.90
Mid C (P, Apr-02) 31,200 0 $ 28.80
Mid C (P, May-02) 10,400 0 $ 25.80
Mid C (P, Jun-02) 10,000 0 $ 28.00
Mid C (P, Jul-02) 20,800 0 $ 42.70
Mid C (P, Aug-02) 10,800 0 $ 50.40
Mid C (P, Q1 02) 30,400 0 $ 33.20
Mid C (P, Q2 02) 92,400 0 $ 27.37
NP-15 (P, Next Day) 4,000 400 $ 26.60
NP-15 (OP, Next Day) 2,800 600 $ 20.38
NP-15 (P, Bal Month) 15,600 0 $ 26.83
NP-15 (OP, Bal Month) 4,400 0 $ 21.00
NP-15 (OP, Dec-01) 8,600 0 $ 27.20
NP-15 (P, Dec-01) 60,000 0 $ 33.73
NP-15 (P, Jan-02) 20,800 0 $ 33.68
NP-15 (P, Mar-02) 10,400 0 $ 32.50
Palo (P, Custom) 10,000 0 $ 24.10
Palo (P, Next Day) 11,600 0 $ 22.22
Palo (OP, Next Day) 1,800 0 $ 12.42
Palo (P, Bal Month) 83,200 5,200 $ 23.02
Palo (OP, Dec-01) 25,800 0 $ 19.25
Palo (P, Dec-01) 90,000 10,000 $ 28.07
Palo (P, Jan-02) 10,400 0 $ 30.20
Palo (P, Feb-02) 19,200 0 $ 29.63
Palo (P, Apr-02) 10,400 0 $ 31.20
Palo (P, Jul-02) 10,400 0 $ 55.50
Palo (P, Aug-02) 10,800 0 $ 61.30
Palo (P, Sep-02) 38,400 0 $ 47.49
Palo (P, Q1 02) 60,800 0 $ 30.05
Palo (P, Q3 02) 30,800 0 $ 55.00
Palo (P, Q4 02) 30,800 0 $ 36.80
SP-15 (HE 1200) 25 0 $ 26.50
SP-15 (HE 1300) 25 0 $ 25.25
SP-15 (HE 1400) 25 0 $ 25.25
SP-15 (HE 1500) 25 0 $ 25.25
SP-15 (HE 1600) 25 0 $ 25.25
SP-15 (OP, Next Day) 2,200 0 $ 18.27
SP-15 (P, Next Day) 6,800 400 $ 25.93
SP-15 (P, Bal Month) 36,400 0 $ 26.20
SP-15 (P, Dec-01) 20,000 0 $ 32.75
SP-15 (P, Jan-02) 20,800 10,400 $ 32.75
SP-15 (P, Q1 02) 60,800 0 $ 32.58
Grand Total 1,143,525 36,200 $ 1,488.76 |
[IMAGE] Forums Discuss these points in the Forums: Forexnews Forum Technicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek Technical Research Ltd. Charts & News featuring Standard & Poor's Interest Rates US: Japan: Eurozone: UK: Switzerland: 1.75% 0.15% 3.25% 4.0% 1.25-2.25% [IMAGE] [IMAGE] USD Rises Across the Board on Fears Over Japan's Reforms February 19, 7:00 AM: EUR/$..0.8684 $/JPY..133.84 GBP/$..1.4247 $/CHF..1.7014 USD Rises Across the Board on Fears Over Japan's Reforms by Jes Black At 8:30:00 AM US Jan Building Permits (exp 1.6 mln, prev 1.654 mln) US Jan Housing Starts (exp 1.6 mln, prev 1.570 mln) USD added to its gains on Tuesday first against the yen, then against the European majors as dealers punished the yen for doubts about Prime Minister Koizumi's ability to reform Japan. USD/JPY rose to a one-week high of 134.01 while EUR/USD briefly broke through chart support at 86.80 and fell to a near two-week low of 86.66. GBP/USD also broke support at 1.4260 and fell to a one-week low of 1.4228. USD/JPY rose to a new one-week high of 134.01 as traders reacted to Japan's inability to tackle key reforms pledges. Markets grew weary with Japanese rhetoric on Tuesday after listening intently last week to a number of assurances to shore up the financial system and tackle deflation. The market was also disappointed by Japan's shying away on the injection of public funds into the troubled banking sector. This led to a sell off in Mizuho Holdings, the world's biggest bank by assets, which fell 7.36%. Earlier this month the banking sector encountered a sell off which drove the Nikkei to 18-year lows until the Japanese government announced it was ready to shore up the troubled sector. But there is a reason for government apprehension. For instance, the more aggressively the government pursues the disposal of non-performing loans (NPL), the more it will increase unemployment and deflation, thus depressing the economy even further in the short run. Therefore Japan will talk tough but likely take a less aggressive approach towards large institutions by again throwing money at the problem. Instead of getting rid of all problem loans, which would bankrupt many debtors, a kinder approach - like the bailout of the Daiei retail chain - will likely prevail. Although this is presumably not what Koizumi means by tough reform, given his declining political capital, it is more likely he will opt to rescue some key companies to avoid an unwelcome surge in joblessness. The end result is a lose/lose situation for JPY, thus the sell off seen today. However, USD/JPY gains were constrained by repatriation flows back to Japan ahead of the March 31 book closing. Precisely because of troubled banks and indebted companies are forced to shore up their books ahead of the fiscal year end. Afterwards, the yen is likely to come back under pressure as Japan begins to tackle deflation and prevent a financial crisis. But how they plan to do this remains unclear. USD/JPY support is seen at 133.70, 132.65 and 132.35. Resistance is seen at 134.00 and 135.00. EUR/USD fell to a day's low of 86.66 after breaking the 86.80 level which marks the 50% retracement of the 85.63 to 88.03 move. Follow up support is seen at 86.50, which is the 61.8% retracement of the same move. A break of that level would likely send the euro back to February's 6-month low of 85.63. Meanwhile, failure to regain the key 87.40/50 mark will likely keep pressure on the pair after it rebounded from last week's lows but met with heavy resistance at 87.46. The euro rebounded from a day's low of 86.66 following a positive reaction to E12 December industrial production which rose as expected by 0.8%. Although the year on year rate was still down 4.1%, the data appears to have marked a turnaround for the troubled manufacturing sector, which is bullish for the euro. German think tank Ifo's Sinn also raised eyebrows when he said that the EU's prediction for Germany's deficit was too harsh. This indicated that Germany may not face censure by the EU later this year for breaking the 3% debt/GDP ratio set out by the Maastrict treaty. GBP/USD slipped to a new one-week low of 1.4228 after breaking last week's low of 1.4250. On Monday, cable bounced up to an overnight high of 1.4330 but failed to break key resistance around1.4340/50, which marks the 61.8% retracement of the move from 1.4515-1.4040 and has so far provided tough resistance. Without a break of that level, the pair remains heavy, dealers say. A break of support at 1.4250 seen targeting support at previous resistance levels of 1.4235 and 1.4180. Today's verbal intervention in the interest rate market by the Bank of England's George surprised markets but did not weigh on the pound. George sought to quell speculation that UK interest rates are set to rise sharply this year, as the futures market is pricing in a rise from 4% to 5%, which is quite aggressive considering the weak inflationary environment. By doing so the BoE is saying the futures market overreacted and that interest rates are not likely to rise substantially this year. A rise in wholesale price figures from Germany also had little reaction in the market as inflationary pressures are benign. Meanwhile, housing start data from the US today is unlikely to affect markets, which will continue to focus on earnings news and any further fallout from the Enron affair. Omnicom Group Inc., the world's third-largest advertising company, said on Tuesday its fourth-quarter earnings rose 15 percent, despite the advertising slump that has besieged the sector for the past year. S?futures trading down 7, Nasdaq futures trading down 18 points. [IMAGE] Audio Mkt. Analysis JPY, EUR rebound vs USD Articles & Ideas GBP: Old Lady Faces Old Problem Euro Rally Running Out of Steam Articles & Ideas Forex Glossary Economic Indicators Forex Guides Link Library [IMAGE]
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SIVY ON STOCKS from money.com
December 11, 2000
Bad news bulls
The news may be rotten for semiconductor stocks, but investors are betting
on a rebound for leaders like Intel.
By Michael Sivy
Over the past few months, I've been warning readers that the technology
sector remains in a broad downtrend that could last well into next year.
Nonetheless, when tech stocks have been beaten down badly enough, shares of
the strongest companies can rebound even in the face of continuing bad
news, provided their long-term prospects are good enough.
Exactly that sort of bad-news rebound has occurred for Applied Materials,
the leading maker of semiconductor manufacturing equipment. Last week I
wrote that the battered stock would remain volatile and could face a
further decline of 10 percent to 15 percent. But I concluded that the
shares were so cheap at $38.50 that the upside was 10 times as great as the
downside. That proved true a lot faster than I expected. In the five
trading days since that column ran, the stock has jumped 32 percent to
nearly $51 a share.
Admittedly, my good timing was largely luck, but the power of Applied
Materials' comeback is a signal that other leading semiconductor stocks
also may have fallen too far. As a rule, if you're considering stocks in
the midst of bad news, it's smartest to stick with industry giants that
have bullet-proof balance sheets. You can be confident that they'll ride
out whatever bad conditions lie ahead, and they may even benefit as smaller
competitors are forced to give up market share.
On that basis, I'd certainly be inclined to look at Intel. Though it's the
world's leading chipmaker, with $34 billion in annual sales, Intel has
spent the year fouling up. Among the more spectacular errors, the company
ran short of capacity because it underestimated demand last year and cut
back capital spending. In addition, glitches were discovered last summer in
Intel's turbocharged Pentium III, and many of the chips had to be recalled.
Frankly, none of those failures will have much long-term impact. Intel
remains the industry's 800-pound gorilla and long-term earnings growth is
projected at more than 20 percent a year. Most analysts see continuing
weakness in the chip market for the next six months, but see the cycle
swinging up by late next year.
In September, Intel warned that third-quarter earnings would be lousy, and
the stock fell by $13 to $48 a share. At the time, I wrote that the stock
was down to buyable levels but that it wouldn't rebound right away. Over
the next three months, Intel sank to less than $32 amid a general selloff
in technology. But after announcing on Friday that fourth-quarter results
would be disappointing because of soft personal-computer sales, Intel
rallied. On Monday, investors followed through by bidding the stock up
another $3.50 to $37.50.
Investors are clearly betting that the worst is over. And with the stock
only about 20 percent above its lows (and 50 percent off its highs), I
think it makes sense to get on board. After revising their 2001 estimates
downward, analysts expect Intel to earn about $1.50 a share next year. At
the current share price, that's a 25 P/E -- cheap for a 20 percent core
growth rate. If Intel is missing from your portfolio, this may well be your
best opportunity for years to come.
=============================
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MONEY's Laura Lallos tells you how to select the best mutual funds
for you, and how to protect your investments in a volatile market.
http://www.money.com/chat/2000/001208a.html
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[IMAGE] Forums Discuss these points in the Forums: Forexnews Forum Technicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek Technical Research Ltd. Charts & News featuring Standard & Poor's Interest Rates US: Japan: Eurozone: UK: Switzerland: 1.75% 0.15% 3.25% 4.0% 1.25-2.25% [IMAGE] [IMAGE] GBP Steady After BoE Keeps Rates at 4.0% January 10, 7:00 AM: EUR/$..0.8901 $/JPY..132.31 GBP/$..1.4425 $/CHF..1.6644 GBP Steady After BoE Keeps Rates at 4.0% by Jes Black At 8:30:00 AM US Dec Export Prices (exp -0.2%, prev -0.4%) US Jobless Claims (exp 410k, prev 447k) US Dec Import Prices (exp -0.8%, prev -1.6%) At 10:00:00 AM US Nov Wholesale Inv. (exp n/a, prev -1%) Sterling rose to day highs across the board ahead of the Bank of England's rate decision at 7:00 AM, which left rates unchanged at 4.0% as expected. Investors considered the BoE's decision evidence that strong consumer spending was driving growth in the UK. GBP/USD rose more than one cent to a high of 1.4462 from an overnight low of 1.4340, but remained within a channel from 1.4340 to 1.4480. Against the euro, sterling rose to a high of 61.73 pence, but resistance at 61.70 held, which should keep sterling's gains in check. However, follow-up buying in GBP was subdued as markets generally expected no rate cut from the BoE. The euro also rose to a day's high around 89.35 cents ahead of key Eurozone data today, but fell following a surprise drop in German data. November industrial output fell 1.8% m/m after strong declines in the previous months to bring the y/y down 4.8%. The decline beat the consensus forecast for a fall of 0.2% and was very negative, but possibly not surprising given the amount of attention paid to Germany's manufacturing woes. Nevertheless, the fall is likely to put Q4 GDP at or near 0% and will put the ECB in a bind to cut interest rates in February. EUR/USD price action continued to move within a channel from 88.70 to 89.50 as it hovers around the key 89.10 level, which marks the 50% Fibonacci retracement of the move from 82.25 to 95.96. Overnight, the pair briefly tested resistance at 89.50, but was rejected. Now, failure to maintain above 89.10/20 would probably call for a test lower to 88.70 followed by 87.60, which marks the 61.8% Fibonacci retracement level of the same move. Moves higher are not seen by the market as indicating strength given the euro's difficulty to remain above 90-cents. Meanwhile, the yen pared earlier gains despite concerns voiced by Japanese officials today that the yen's slide was too fast. Dealers were quick to buy USD/JPY near the 132.00 level after its recent fall from a new 3-year high of 133.37. PM Koizumi said at visit to Malaysia that Japan was not lowering the yen intentionally and that FX rates should be decided by markets. However, Malaysian PM Mahathir said he was watching with interest the impact of a yen fall on the Chinese yuan and ASEAN currencies. Concern over the yen's 10% decline over the past 2 months corresponds with PM Koizumi's 7-day tour around Southeast Asia, which began on Wednesday. Although US monetary officials have expressed a desire to let markets determine FX rates, countries such as China and Korea have voiced concern about Japan exporting their deflation to the rest of the area. Overnight remarks by an official from South Korea's Finance and Economic Ministry that the weakening in the yen could create malaise in other Asian markets, hints that for political reasons Japanese officials are now likely to remain quiet until the PM returns. Therefore, in the absence of further encouragement by Japanese monetary officials for a weaker yen, a period of consolidation would not be unusual. But any correction in USD/JPY would likely hold around 130-132 dealers say. EUR/JPY rose to a day's high of 118.76 but needs to hold above yesterday's low of 117.50 or it may target last week's lows around 116.90 and the 2-week low of 116.50. Upside is seen capped at 118.75 and last week's 2-year high of 119.71. Despite the yen's reprieve from further losses, market sentiment remains very bearish. A recent report from the American Enterprise Institute for Public Policy Research says that JPY will come under further pressure in March once the market realizes that Japan is on the road to default if it does not reflate the economy. The Economic Outlook report contends that the government is expected to incur an unsustainable debt burden of $1 trillion in protecting depositors from the collapsing banking system in March when deposit insurance is revoked and Japanese investors likely make a run on the bank, thereby bringing collapse. Ex-Japanese Minister of Finance Sakakibara, aka Mr. Yen, also said he sees the yen possibly falling to 150-160 per dollar towards year end. However, Sakakibara warned of possible intervention if the dollar rises above the psychological level of 140 yen. Mr. Yen said that yen weakness would permeate through to other Asian currencies which should gradually weaken vs dollar along with yen. In reference to Bank of Japan policy, he said the bank should keep easy monetary policy including more JGB purchases, but warned that excessive government spending would be ineffective and could lead to a collapse in the JGB market. USD/CHF surged to 1.6619 after testing a session low of 1.6527 in early European trade. Trendline support at 1.6500 followed by 1.6410 should hold for further test higher, as rumors that the SNB may have been intervening to weaken the franc helped the currency slide to a low of 1.4833 vs the euro as well. The SNB is trying to talk the franc lower as a cheaper franc would boost export prospects and ease the economic pains facing the country. However, the SNB is unlikely to dramatically lower interest rates to do so. Swiss National Bank Vice-Chairman Gehrig reportedly said in an interview on Wednesday that the SNB's next move could be either up or down. This surprise comment caught markets off guard and given that the economy should show flat growth in H2 2002, as well as the central bank's dissatisfaction with the current strong CHF exchange rate. Meanwhile, markets will be looking for signs of economic recovery in the US and more gains on Wall Street after yesterday's sour finish. The dollar strengthened across-the-board yesterday, encouraged by the rally in the US stock market for most of the day stemming from positive comments from technology bellwethers Cisco and Oracle. Even though the gains in equities dissipated by the close of trading, the greenback managed to hold onto its gains against the majors. But, dealers will watch to see if U.S. markets are getting ahead of themselves in anticipating a U.S. recovery. [IMAGE] Audio Mkt. Analysis Takenaka Leaves Little Doubt on Japan's FX Stance Articles & Ideas What's Next For the Euro? A Look Back at 2001, Forex Themes for 2002 Articles & Ideas Forex Glossary Economic Indicators Forex Guides Link Library [IMAGE]
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> ----------
> From: Sharon Lay
> Sent: Wednesday, November 17, 1999 9:21 PM
> Subject: Punch list for "The Millennium Cruise"
>
> Well, it looks like we are on the final stretch now, and we can review
> some of the earlier discussions to make sure everything is in order. Sheri
> is going to meet with Roger next week to cover all of the items listed
> below. Please give us feedback on any other concerns:
> 1. The main dining room open 6:30pm-9:30pm.............................
> Confirmed
> 2. Tea Served
> 3:00pm-5:00pm.....................................................Confirme
> d
> 3. Childs menu in the Gorilla Grill [Don Vito's Trattoria] from
> 11:30am-2:30pm and
> 3:00pm-5:00pm.............................................................
> ........Confirmed
> 4. The Butterfly Room will have highchairs ..............Waiting on final
> number of highchairs needed
> 5. The Butterfly Room will have a
> microwave.................................Confirmed
> 6. We have provided non spill children's cups ...............
> ..............Confirmed
> 7. Radisson will provide 150 USA TODAY, 50 WallStreet Journal,
> 5. New York Times, and deliver the 150 USA today to the rooms, and place
> the Wall Street Journal and New York Times in the public areas, without a
> charge....................................................................
> ....................Confirmed
> 6. There will be a faxed copy of daily of the New York Times.......
> Confirmed
> 7. There is a business center available 24 hours a day with a computer,
> fax and copy
> machine...................................................................
> . Confirmed
> 8. The telephone requires a credit card to make a long distance call, so
> it is not necessary to restrict the children's
> rooms................................ Confirmed
> 9. There will not be a golf pro on board, however we can still use the
> putting green and driving cage. The boat has drivers and putters that may
> be checked out for use on the
> boat.................................................. Confirmed
> 10. The boat has 200 snorkels available to be checked out for the entire
> cruise
> and 2 jet skis for use when the marina is down
> ............................. Confirmed
> 11. Spa reservations can be made after boarding the ship and children
> under twelve years cannot use the healthclub without adult supervision
> .....Confirmed
> 12. The swimming pool will be closed to children after
> 5:00pm..........Confirmed
> 13. The aft deck will be fully stocked and open only during the
> day...Confirmed
> 14. There will be a daily bulletin delivered to each cabin every evening
> with the
> children and adult activities that are planned for the next day..........
> Confirmed
> 15. There will be a travel desk open every day for questions...........
> Confirmed
> 16. Loraine, the cruise director, will be available every day for question
> regarding the shore
> excursion.......................................................Confirmed
> 17. There will be a daily board listing all activities and times
> ............Confirmed
> 18. There will be nightly entertainment in the main dining
> room.........Confirmed
> 19. There will be nightly children's entertainment in the Constellation
> room
> i.e. games,
> movies....................................................................
> ...Confirmed
> 20. The casino will be open when the boat is under way and children under
> the age of 21 will not be allowed in the
> casino......................................Confirmed
> 21. The night of Dec. 29th will be the family night with the BBQ up top
> and a country and western entertainer.{Loraine's
> fianc,e}........................Confirmed
> 22. The boat will be netted for child safety on Dec. 27th and John Duncan
> will approve the
> project...................................................................
> ... Confirmed
> 23. There are 30 children's life vest on board the ship and children over
> ten years of age will wear adult life vest. The ship has all of the ages
> of the children so they can be certain the vest will
> fit.................................Confirmed
> 24. The Constellation room will be transformed into a children's room with
> games, toys and movies. A staff member will be available for hire to
> assist the nannies and parents if
> needed......................................................Confirmed
> 25. Daily activities will be planned for the
> children...........................Confirmed
> 26.Radisson has provided KJM with written confirmation of Y2K
> readiness.................................................................
> ....................Uncertain
> 27. Radisson will provide name and credentials of the
> Doctor...........Waiting c
> 28. Radisson will provide baby beds for children under 3
> years.......Confirmed
> 29. Radisson will convert queen beds into twins in rooms ending with 6,7,8
> or 9 when requested 30 days
> out.....................................................Confirmed
> 30. Radisson has two tenders that each hold 120 people for transporting
> passengers from the boat to the shore
> excursions...........................Confirmed
> 31. KJM will provide Radisson with names of passengers having any special
> occasions i.e. birthday,
> anniversary..........................................Next mail out
> 32. Magnetic door plates will be on each door with passenger
> name.Confirmed
>
> I will be leaving for South America tomorrow and return on the 29th.
> Please give any additions to my trusted assistant , Janelle, so she can
> make sure Sheri has all the information for her meeting next week with
> Roger.
>
> Hasta Luego mi amigos,
> Tu amiga Sharon
>
>
> |
FYI
----- Forwarded by Richard B Sanders/HOU/ECT on 02/12/2001 01:14 PM -----
Robert C Williams@ENRON_DEVELOPMENT
02/05/2001 02:54 PM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: Re: Cuiaba Call--legal issues
I didn't talk to them expressly but Rob told me at my review that Jim wanted
him to tell me that I was "on the line" for the International litigation
until you and Mark told him that I was "relieved of duty." So I have sort
of reverted back to feeling primarily responsible for it since I know you are
leading the charge in California. But whenever you and Mark are ready to
relieve me I'm ready to be relieved.
From: Richard B Sanders@ECT on 02/04/2001 09:08 AM
To: Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Re: Cuiaba Call--legal issues
Thanks for your help. Did you ever talk to Jim/ Rob about how to handle
international? Should we set up a meeting like we discussed?
Robert C Williams@ENRON_DEVELOPMENT
02/02/2001 09:34 AM
To: Michelle Blaine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: [email protected], [email protected], John Novak/SA/Enron@Enron,
Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B Sanders@ECT
Subject: Re: Cuiaba Call--legal issues
I want to get involved in this. Michelle will bring me up-to-date. I don't
understand why we are considering Brazilian court versus ICC arbitration.
Michelle Blaine
02/01/2001 07:36 PM
To: [email protected], [email protected]
cc: John Novak/SA/Enron@Enron, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard B Sanders@ECT, Robert
C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Cuiaba Call--legal issues
1. Consent Issue: Jose Bestard (he's the main developer who did this deal)
reported that he met with Furnas this week. Furnas had not received EPE's
letter addressing the consent issue. Furnas continues to link its failure to
sign the consent to commercial exposure to the high price from the MAE. There
are initials on the original consent and no one (including Furnas) knows
whose they are. John Novak told me he's not sure of the significance, but it
is not uncommon in Brazil to initial documents. Nevertheless, we need to ask
our Brazilian lawyers whether there is any significance under Brazilian law.
Keep in mind also that consent document was between EPE and the assignor,
Electronorte.
2. Arbitration considerations: Bestard has a meeting planned with the
ambassador. He consulted Enron's financial/business consultant in Brazil,
Winston Fernino (sp?) who advised that we should exhaust all political
avenues before resorting to litigation or arbitration. What concerns me,
however, is his advice that, politically, it is not the time to seek
assistance fromthe president for the consent, that there is a political
battle in the senate, and that we should wait until the end of February to
seek political assistance. My view on that is, to wait 4 more weeks to
progress with this notice of default, when the 90 day cure period has
expired, plus the 30 day extension which has also expired, sends the wrong
message and weakens our position. Thus, it is my recommendation that we
proceed immediately with a notice to terminate under Clause 27, paragraph 2
of the PPA, which then requires a 30day consultation period (paragraph3) at
the end of which we have the option to terminate. This buys us a little
time, but keeps the pressure on, at the end of which we can initiate
proceedings to compel the consent or to terminate. I'm not sure what
reaction the notice to terminate could bring about from Furnas. I'm not sure
how that plays out in our settlement with Siemans. Consider also that the
commercial people are not comfortable with termination yet. I am not sure
what rights, if any, we waive by waiting around doing nothing or how that may
affect our position in arbitration or litigation (something we need to look
at under the contract, although I cannot immediately recall any deadlines or
express waivers related to timing in this regard). I committed that we would
advise the team on the next call (next Thursday) our recommendation with
respect to arbitration/litigation. I want to make sure they understand
every possibility so they can make an informed decision. You have the matrix
developed already if you want to expand on that, or handle that your own
way. Bestard opines that Furnas will fight hard, that they have
traditionally been very adversarial and uncooperative. I'll find out who
represents them.
3. Force Majeure: Furnas is also taking a very strong position that EPE
does not have a valid force majeure claim. Based on my reading of the
contract, our facts appear to fit squarely under Clause 95(c). However, I'm
told we did not comply strictly to the notice terms. We'll need to show that
we were not negligent as a cause for the attorney general's action. Laine
Powell, President of the Cuiaba companies will gather the information on our
force majeure claim and we need to consider the legal issues related to our
position. Note that if FM lasts more than 12 consecutive months, both
parties have the right to terminate. No one buys the plant and we're stuck.
I'll find out the date of our last FM notice. There have been several.
4. Budget: Lets consider what it will cost to nail down this arbitration
concern and give initial advice on how to proceed over the next week, what
it will cost to prepare for arbitration and, the cost of the arbitration.
Darren I'll call you tomorrow and we can break that out. We may want to
consider the litigation route. We'll need to put together some kind of
proposed or potential time line, and what will happen in each stage and tie a
number to it. I've done this with Pete before and he seems to like it. It
needs to be subject to review as we go along.
5.NEXT: Prep for the call and get a recommended strategy in place. I'm going
to get together all our opinions on the Brazilian state of arbitration and
get a conference call with one of these experts so we can get the best
advice. We certainly have some conflicting views. Our experience in the
Brazilian courts is that nothing happens and we could be stuck for years, so
I am inclined to take our chances with arbitration and we may get stuck in
the court anyway. If we go to court, perhaps Furnas would take the position
that we must arbitrate, that is what Fernando Serec said. Who knows.
Please give me your comments or just call me. I'm open to any suggestions.
John Novak will be able to tell us about all the competing concerns that I
may be unaware of with any strategic plan.
Regards,
Michelle |
Answers to your quetions:
Yes; no; maybe
Just kidding....
Interconnects for Calp and Dayton handled the same...just add those meters to
the sell tkts to CES and the buys are the delivery points. Don't path the
actual contract in Unify...When we hold that capacity and EDI, we'll path in
Unify.... We don't get the bills from TCO in January for that contract. Get
em in February (when we hold the capacity). They are set up in Unify but we
won't actually use....We are providing that service for those guys.
Try your best for trueing up the transport tkts and the CALP and Dayton tkts
in Sitara. Impact is on P and L for the desk daily and later on for the
(O/A) operational analysis where the accountants compare what we estimated
our costs and revenues for the desk were and what they actually came in
at.......We know January will be messy...
Go ahead and true up the PAL agreement to match physical flow......
BUY/SELLS with ENA and CES. We talked at the beginning of the month about
this. Sales/buys to/from ENA on the CES reports and sales/buys to/from CES
on the ENA facilitation by location reports should just be pahted as
buy/sells. (hopefully should be done already......)
I have a meeting from 3-4 today...other than that I'll be downstairs with
y'all to answer any questions....
THANKS!!!!
To: Victor Lamadrid/HOU/ECT@ECT
cc: Joann Collins/Corp/Enron@ENRON@ECT, Robert Allwein/HOU/ECT@ECT, Katherine
L Kelly/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
Subject: Re: Dayton Stuff & Calp & other fun stuff
You were a busy little bee last night!!!! Thanks for the help.
FSS 63304 - we are not using. I'll ask John Hodge what this storage had been
used for in the past.
Clarification needed for the Dayton and Calp sell at the pool. How is the
interconnect gas supply done... we had some on Calp with Virginia Power and
Coral. In the past we have some on Dayton... don't think we have any in
January yet. Does this through another monkey wrench into the works?
We will probably have to run some report out of navigator to true-up
transport tickets. There are a ton of cuts lately and Joann receives daily
request from CES retail for volume changes. Not sure the best, efficient way
to maintain these tickets daily.
PAL for CES was physically flowed on January 1. Should we change the tickets
to match physical flow???
I'm bummed about the storage ticket change again... but will redo the paths.
This will be a couple hours of rework for me... not sure about Joann.
You have lost me on the ENA to CES and CES to ENA buy sell tickets. Can't
think of any examples yet. Hope this doesn't cause repathing.
Victor Lamadrid@ECT
01/18/2000 09:38 PM
To: Joann Collins/Corp/Enron@ENRON, Joan Veselack/Corp/Enron@ENRON, Robert
Allwein/HOU/ECT@ECT
cc: Katherine L Kelly/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT
Subject: Dayton Stuff & Calp & other fun stuff
Hello my favorite TCO people: Here's what we here at team TCO have done so
far....Let's recap shall we..........
Dayton and Calp get the invoices from the p/l and we re-imburse them for the
transport differenentials so......
Dayton capacity buy at the citygate = Sitara #151878 - path as buy/sell with
your markets.
Dayton capacity sell at the pool = Sitara #151877 - path as buy sell from
pool. These 2 tkts should be released by Stephanie tomorrow morning. True
these up as best you can daily.
Also:
Calp capacity buy at the citygate = Sitara #149776 - path as buy/sell wth
your markets.
Calp capacity sell at the pool = Sitara #149775 - path as buy/sell at pool.
These 2 tkts should be released by Stephanie tomorrow morning. True these up
as best you can daily.
Our transport tkts from pool to city gate for all other transport still
remains Sitara# 95448 and Sitara# 95449. Please true up as best you can.
NEXT:
Do ya'll have 2 FSS Storages Contracts # 51407 and 63304?
Deal # 151879 covers storage K# 63304 and deal # 151880 covers storage K#
51407. The Sitara gods have to approve, bounce the server and then it will
appear in Unify for you to path....
Deal # 149778 is the storage w/d ticket for both K# 63304 and K#51407. Deal
# 151882 is the storage injection ticket for the same. The counterparty had
to be changed back to CPR storage. You guys have to unpath and re-path that
piece showing the purchase from CES for the storage w/d. Really SORRY about
this!!! Counterparty could not be CES --- We can't path on stg. contract and
out of inventory and buy from CES at the same time w/o the point not being
balanced.
Park and Lend contract #64031 and # 64041 are being set up by Chris in Sitara
but we have to get the Sitara gods to set up PAL contracts as ENA agency
deals for CES so he can't put the deals in the system just yet. They should
be available tomorrow hopefully!!!! They are for 250,000 on the first and
the 300,000 on the second of January. Path them accordingly depending on
where that PAL gas went.
In addition all deals that are ENA to CES or CES to ENA should be pathed as
buy/sells.
I think that is it for now. Let me know if anything else stops you from
pathing, running tracking and balancing and finally from bridging back the
first to Sitara. Let's set a GOAL to have the first totally pathed and
tracked and balanced and bridged back and clean by close of business the
19th. YEAH BABY!!!!
By the way, we really appreciate the monumental effort you three have made in
meeting all logistical requirements of the old and new TCO business and
keeping track of the volumes in Sitara, Unify and Navigator...We're are
zeroing in on end of month balance tie outs between Navigator and Sitara for
the 4 CES pools and the 2 ENA pools. We've kept a bunch of balls in the air
for the last 4 weeks and to my knowledge haven't dropped one darn ball yet.
Thanks......... |
Agreed.
"Alexander, Michael S" <[email protected]> on 06/16/2000 08:44:15 AM
To: "'Norman A. Pedersen'" <[email protected]>, "Cherry, Brian - TPBKC"
<[email protected]>
cc: "'Pocta, Robert M.'" <[email protected]>, "Cherry, Brian - TPBKC"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'Gileau, Patrick L.'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Porter, Douglas K"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "Betonte, Robert - TP2RSB" <[email protected]>,
"Brill, Thomas R." <[email protected]>, "Follett, B. David - TPDBF"
<[email protected]>, "Harrigan, James P. - TP1JPH"
<[email protected]>, "Hay, James E." <[email protected]>, "Lorenz, Lad -
TPLPL" <[email protected]>, "McVay, Nancy W - TPNWM"
<[email protected]>, "Morrow, Rick - TP3RMM" <[email protected]>,
"Purves, Ralph A." <[email protected]>, "Sakarias, Wayne P."
<[email protected]>, "Schavrien, Lee" <[email protected]>, "Sullivan,
Glen J." <[email protected]>, "Surak, Thomas M. - TP1TMS"
<[email protected]>, "Teeter, James S." <[email protected]>, "Van Lierop,
Jan - TP2JXV" <[email protected]>, "Watson, Steven - TP2SAW"
<[email protected]>, "Wright, Gillian - TP1GXW" <[email protected]>,
"Barker, David - TPDTB" <[email protected]>, "'How-Downing, Lindsey'"
<[email protected]>, "'Jun, Christine'" <[email protected]>, "'Khoury,
Dexter'" <[email protected]>, "'[email protected]'" <[email protected]>, "Nelson, Eric
B. - TPEBN" <[email protected]>, "Suwara, J.- TPJUS" <[email protected]>,
"Reed, William" <[email protected]>, "'Paul, Joe'" <[email protected]>,
"'Hawiger, Marcel'" <[email protected]>, "'Fawcett, Jeff'" <[email protected]>,
"'O'Neill, Ed'" <[email protected]>, "'Power, Pat'" <[email protected]>,
"'Ramirez, Jaime'" <[email protected]>, "'Black, Larry'"
<[email protected]>, "Fair, Pam" <[email protected]>, "'Hall, Rich'"
<[email protected]>, "'Eisenman, Eric'" <[email protected]>, "'Stoner, Ron'"
<[email protected]>, "'McConn, Kathy'" <[email protected]>
Subject: RE: Final Late Exhibit Draft
Norman,
She also said (ibid):
"What I want is an exhibit that will illuminate that in the broadest
possible form. I would rather have too much information than not enough
information."
Therefore, I do not see the harm or lack of responsiveness in including the
additional information.
--
Michael S. Alexander
Southern California Edison
2244 Walnut Grove
Quad 1C
Rosemead, CA 91770
(626) 302-2029
(626) 302-3254 (Fax)
-----Original Message-----
From: Norman A. Pedersen [mailto:[email protected]]
Sent: Thursday, June 15, 2000 11:08 PM
To: Cherry, Brian - TPBKC
Cc: 'Pocta, Robert M.'; Cherry, Brian - TPBKC; Alexander, Michael S;
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]'; 'Gileau,
Patrick L.'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; Porter, Douglas K; '[email protected]';
'[email protected]'; '[email protected]'; Betonte, Robert - TP2RSB;
Brill, Thomas R.; Follett, B. David - TPDBF; Harrigan, James P. -
TP1JPH; Hay, James E.; Lorenz, Lad - TPLPL; McVay, Nancy W - TPNWM;
Morrow, Rick - TP3RMM; Purves, Ralph A.; Sakarias, Wayne P.; Schavrien,
Lee; Sullivan, Glen J.; Surak, Thomas M. - TP1TMS; Teeter, James S.; Van
Lierop, Jan - TP2JXV; Watson, Steven - TP2SAW; Wright, Gillian - TP1GXW;
Barker, David - TPDTB; 'How-Downing, Lindsey'; 'Jun, Christine';
'Khoury, Dexter'; '[email protected]'; Nelson, Eric B. - TPEBN; Suwara, J.-
TPJUS; Reed, William; 'Pedersen, Norman'; 'Paul, Joe'; 'Hawiger,
Marcel'; 'Fawcett, Jeff'; 'O'Neill, Ed'; 'Power, Pat'; 'Ramirez, Jaime';
'Black, Larry'; Fair, Pam; 'Hall, Rich'; 'Eisenman, Eric'; 'Stoner,
Ron'; 'McConn, Kathy'
Subject: Re: Final Late Exhibit Draft
_______________________________________________________________
This message and any attachments are intended for the individual or entity
named above. If you are not the intended recipient, please do not read,
copy, use or disclose this communication to others; also please notify the
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Thank you.
_______________________________________________________________
Your proposed draft exhibit goes substantially beyond the ALJ's order.
ALJ Biren specifically stated that the the late-filed exhibit "should be
narrowly focused on the mismatch of capacity." Tr. 1021.Thus, you need to
eliminate the column entitled "Total Take-away Capacity." Furthermore, the
column is both suspect (e.g., the representation that EOR is 770 MMcfd) and
misleading (e.g., the inclusion of SWG or PG&E in "S. Calif Take-away
Capacity"). Also, you need to eliminate the "Avg. Daily Market" box. The
following is what should be submitted to ALJ Biren:
(See attached file: #1070989 v1 - FIRM PIPELINE CAPACITY DELIVERY (EX. TO
I.99-07-003).doc) |
print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 11/13/2000
10:06 AM ---------------------------
Jez Peters
11/13/2000 05:03 AM
To: Stuart Staley/LON/ECT@ECT, George McClellan/HOU/ECT@ECT, Mike
McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Peter
Bradley/LON/ECT@ECT, Samuel Grossman/LON/ECT@ECT, Pierre Aury/LON/ECT@ECT,
Chris Connelly/LON/ECT@ECT, Riaz Rizvi/LON/ECT@ECT, Manfred
Ungethum/LON/ECT@ECT, Sven Becker/FRA/ECT@ECT, John Moran/LON/ECT@ECT,
Cornelia Luptowitsch/LON/ECT@ECT, Scott Longmore/LON/ECT@ECT, Tiffany
Cochran/LON/ECT@ECT, Elizabeth McCarthy/LON/ECT@ECT, Tom Kearney/LON/ECT@ECT,
Stephen Pirozzi/LON/ECT@ECT, Dimitri Taylor/LON/ECT@ECT, Kenny
Nicoll/LON/ECT@ECT, Lisa Kent/LON/ECT@ECT, Candace Parker/LON/ECT@ECT, Shamim
Ali/LON/ECT@ECT, Katrina Bensadon/LON/ECT@ECT, Jez Peters/LON/ECT@ECT, Kevin
McGowan/Corp/Enron@ENRON, Tom Mcquade/HOU/ECT@ECT, Scott Pack/NA/Enron@Enron,
Dan Edwards/NA/Enron@ENRON, Paul Mead/LON/ECT@ECT, Karolina
Potter/LON/ECT@ECT, Meindert Witteveen/LON/ECT@ECT, Louis
Redshaw/LON/ECT@ECT, Niamh Clarke/LON/ECT@ECT, Gregor Baumerich/LON/ECT@ECT,
Florian Neubauer/LON/ECT@ECT
cc:
Subject: ARA Coal Mkt Summary
SUMMARY
The market has definitely come under pressure since the dizzy heights of of a
fortnight ago where producers were still standing firmly
behind $33 per metric on a FOB Richards Bay equivalent and claiming it was
heading swiftly to $35. While there had been some nervous
short covering by utilities in the month prior to coaltrans which had
fuelled the mkt somewhat the buyers have remained disciplined and
in general have refused to commit to these numbers. The lack of business at
these numbers has definitely moved the mkt south and of
course mkt psychology with it. While producers are still playing lip service
to abve numbers they are actively putting up offers which
reflect levels of $31 FOB Richards Bay and wud trade down to $30.50. Several
sources have confirmed in the last cuppla days that
negotiations between Kepco and South African producers for price fixing 2001
tonnage fell apart which ultimately means there will be
an additional 3 million mt which the South Africans have to find a home for -
destination Europe most likely. On the flip side Kepco will
be looking towards Indonesia and China to substitute this tonnage and this
combined with rumours that Formosa Plastic will be looking
for some 3 million tonnes of additional material from China cud serve to
tighten the Pacific mkt over the next months for first half 2001.
There is definitely an intent within the consuming community to make a stand
against the cartel and there has been a lot of activity over
last three weeks with business being booked out of the U.S, Indonesia and
Australia at numbers close to what was achievable from
S.A. into Europe. This can only serve to strengthen our opportunities in this
mktplace and indeed German utilities who have been held to
ransom by similar minded producers in Poland are now exploring every end to
do business with other suppliers - namely ourselves
in order to avoid being captive to one supplier. Weglekoks incidentally are
currently in the mkt buying Russian material to cover sales
made against Polish to Bewag - we don't want to be short Polish in the near
term!
Mkt now trading at $41.25 Fob barge ARA for Jan/Dec 2001and $42.15 level for
the Jan/Mar 2001. We still see couple dollars on the
downside although the latest incident (guerrilla attack on rail line last
week) has Gary Drummond threatening to cut production down
in Colombia by half for first few months of 2001 to make a point to the
unions. We are still trying to ascertain how much this wud bull
the mkt short-term but we wud certainly take the opportunity to sell any
spike.
SPOT TRADES
January pnmx FOB Santa Marta from Masefield at $33pmt basis 11800btu
One Cape of Colombian to Scotts Power for March delivery to Hunterston at $41
basis 6000kcal/kg
Sld the Prima Cape Option which was bot a fortnight ago at $30.65 to NCSC
for $33.25 FOB Tanjang Bara both basis 6400 kcal/kg.
Bot 25mmt Russian material CIF Stettin at $39.75 to put against our Bewag
commitments
Sld 5mmt Colombian to BEC (Duisbourg) basis $42.5 FOB ARA
Sld API 2 Index for 2001 for 15mmt a month to Innogy
Sld API 2 Index for 2002 for 15mmt a month to Innogy
SELLING SIDE
One Cape Q1 of Generic South African to Anglo at $32.5 FOB RBCT basis
6000kcal/kg
500mmt delivered Berlin for Bewag for 2001. Struggling to compete with
Weglekoks offer out of Poland.
2 pnmx of South African CIF Brunsbuettel for Jan and April shipment at $41 to
UMAR (trader) who took the direct biz.
7mmt each month Feb/Dec 2001 to Anneliese at $41.75 basis generic South
African specs
40mmt FOB Barge of generic South African to Dusseldorf for Q2 at $42.50
One pnmx to AMCI of Colombian material taking back either South
African/Australian/U.S coal next year at agreed frt spreads.
One pnmx of 1.4 Sulphur "U.S coal" $40 CIF Gijon to H Del C - deal done
subject to quality.
One pnmx of 1% Sulphur "US coal" $40 CIF Rotterdam to GKE.
BUYING SIDE
Continue discussions with Masefield regarding supplies from Santa Marta for
2001
Working a proposal with Krutrade which will give us access to some
significant tonnage of Russian coal for 2001 forward.
Various projects within South Africa all of which emanate from the
development and success of "Operation Springbok".
EOL Update
Total EOL trades for November stand at 1.95 million mt out of a running total
of 3.67 million from it's inception. As the figures suggest
there is increasing activity/liquidity in the market with the arrival of
several new players in recent weeks - most notably AEP. Increased
volume in EOL has also been mirrored by an increase in the volume of SECA's
traded in the OTC market with more and more utilities
who have upto now remained on the fringes deciding to join the party - RWE
has been the latest SECA virgin to lose it's cherry closing
a deal with ourselves early last week on Q1 through TFS. We are now offering
our products in Euros aswell the good old green back
much to the confusion of one or two of our clients! At current pace we shud
have surpassed all our expectations by passing the 5 mill
mark by the end of the year.
GAMEPLAN
We are currently long to the tune of 1.5 mil mt but this is essentially all
through optionality at origin which runs through to 2004.
Strip these out and effectively we are running a short ARA position of some
1.5 mill mt weighted pretty evenly across Q2, Q3 and Q4
2001 backed by some implied longs at origin through options and firm tonnage
out of both Richards Bay and Drummond. We are
very comfortable with this as we hold enuff bullets at reasonable numbers to
go after the term Cal 01 business while running a European
short pos'n which shud capture the weakness which we are anticipating in both
the frt mkts and in the Atlantic coal mkt. Shud the the
European mkt gain some momentum then we have own some slightly out of the
money options which we wud utilise to execute any
physical shorts in ARA and to keep mkt capped.
Best Regards
Jez |
Christi,
As I have been thinking about this problem, my opposition to a standard model is declining, partly out of frustration with the slow progress being made. I think, however, that we ought to think about the potential consequences of recommending a standard model. If we simply endorse PJM, then we may inadvertently get its warts as well -- no secondary transmission market, ICAP market, etc. I think we are considering the same thing approach as was reported by Charles Yeung's in his note on Tuesday's Inter-RTO Coordination (Seams) Conference:
"Harvey Reed, Constellation Power, suggested that FERC impose a standard tariff for all RTOs to work from that did not restrict RTOs from filing different proposals, but would limit their ability to diverge from a single market model."
In addition to the standard model, there needs to be a deadline for either filing the tariff or for filing the standard tariff. Without a "feet to the fire" feature, nothing the grand stall will continue. In arguing for a standard model, the PJM system could be the core of a proposal but we should specific modifications to address our concerns. On the transmission rights issue, for instance, a simple "don't allocate" solution won't work. The lack of the secondary market for NY TCCs or PJM FTRs goes both to the lack of information and to the way the rights are defined. If as Harvey Reed suggests, RTOs can submit alternative approaches, at least there will be pressure to get moving. I have not discussed this idea with West Power.
It then occurred to me that FERC is unlikely to impose a standard tariff without a rulemaking proceeding. Whether they could act by fiat or not is a moot point, since I doubt that they would do so without creating a record. There are two possible down sides to a rule making. (1) The outcome of a rulemaking is something of a crap shoot. The incumbents have a pretty good record in the past, of coming out of rulemakings with plenty of goodies such as the native load exemption in Order No. 888. There is a also a distinct risk that PJM's ICAP or transmission right allocation process is given blessed status, which will make revision of them later to be a huge uphill battle. (2) The other consequence of a rulemaking its effect on current RTO discussions. The best outcome is that the uncertainty of the rulemaking creates an urgency to get a proposal filed before a new FERC rule cuts off options from a new the standard for review. The uncertainty prior to the issuance of Order No. 888 in fact had that effect in the West. On the other hand it can mean that nothing happens until the new rule is issued. This also happened prior to Order No. 888, with a number of companies sitting on their hands, using the time delay to protect existing positions, while whipping up State regulators' fears of jurisdictional shift as necessary to boost their own position.
These are only own views. I have not had a chance to speak with West Power this week, but I will approach Tim when I am in Portland again next week.
Steve
Christi L Nicolay 06/19/2001 04:21 PM To: Steve Walton/HOU/ECT@ECT cc: James D Steffes/NA/Enron@ENRON, Richard Shapiro/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron Subject: Re: INTERIM MODEL TALKING POINTS
Can we focus the PJM language as an interim fix toward the East (while maybe the threat of PJM in the West will make the West RTOs act quickly and adopt everything that Steve W. has been advocating). Also, I agree with the ISO being required to provide much greater information on where the congestion occurs. While the allocation of FTRs is a problem and the idiosyncratic nature is also a problem, it is because the traders do not have access to all the information. They have told me that if they had access to all the information about congestion from the past several years, they could essentially build a model for anticipated congestion that could trade "above" the underlying FTRs as financial instruments.
Steve Walton
06/18/2001 03:30 PM
To: James D Steffes/NA/Enron@ENRON
cc: Christi L Nicolay/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Sarah Novosel/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
Subject: Re: INTERIM MODEL TALKING POINTS
Jim,
I have added my comments to your draft. My concern with the "Adopt PJM" approach is that it will become a fiat accompli with regard to congestion management. and the nature of future transmission rights. Once adopted as the standard, nothing else will be accepted and any move to a decentralized approach is highly unlikely. Unlike the British, we have a hard time changing horses because of our multi-jurisdictional Federal system of government.
The PJM's lack of a secondary FTR market is more that just an allocation problem. If that were true, they New York would have a secondary market -- none exists there either. The unpredictability of prices is probably the biggest problem since no one knows how to value FTRs or TCCs. I think the nature of instrument is also not particularly helpful.
During our discussion of Seabron Adamson's last draft, I maintained that a centralized unit commitment process didn't fit the Pacific Northwest (PNW) with its pattern of trading to achieve coordination between hydroelectric and thermoelectric generation. You asked me to provide more detail hydro-thermal operation. I am including a paper that covers the nature of PNW operations and contracting with observations about the nature of unit commitment. Given other work and travel, it has taken some time to complete the paper and its examples. I hope this will help to explain why I am hesitant to endorse a centralize unit commitment implementation.
Steve
James D Steffes@ENRON 06/18/2001 01:48 PM To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Christi L Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Steve Walton/HOU/ECT cc: Subject: INTERIM MODEL TALKING POINTS
Here is the draft of an Interim step for Enron to give to Lay. Please give me your comments. This is CONFIDENTIAL and should not be shared outside the company.
Jim
<Embedded StdOleLink>
<Embedded StdOleLink> |
Contact Steve Walton
Eric Hirst <[email protected]>
11/10/2000 10:03 AM
To: [email protected] (Steve Kean)
cc:
Subject: Outline for Project on Real-Time Markets
Dear Steve,
Once again, I call on you for advice. Who, within Enron, should I talk with
about a new project I am working on, related to real-time balancing
operations and markets (all the messy stuff that causes so many problems
within all the existing ISOs)?
Here is the outline for the project. Can you send me your suggestions on
revising the outline, other people at Enron (and elsewhere) to contact
related to these markets, and written materials on how the various ISO
markets operate.
Thanks.
Eric
----------------
ISSUES TO DISCUSS FOR PROJECT ON:
REAL-TIME BALANCING OPERATIONS AND MARKETS
November 6, 2000
1. Introduction: Importance of real-time operations and markets
Essential for reliability, especially security
Basis for all forward contracts (hour- and day-ahead, block monthlies,
bilaterals)
Real-time prices motivate generation-capacity decisions: new construction,
repowering, retirements
Ensure equitable treatment for &new8 intermittent and distributed resources
2. Physical Requirements and Operations
Balance generation to load in near-real time (intrahour)
Normal conditions (frequency response, CPS1, CPS2)
Contingency conditions (DCS)
In neither case is it necessary for generation to exactly balance load over
short time periods (e.g., 10 minutes), but must balance energy over longer
intervals
Benefits of aggregation
Performance and characteristics of individual generation and load resources:
random fluctuations, energy level, ramp rate, acceleration rate, startup
time, minimum run time, block loading, energy-limited characteristics of
hydro units, etc
Control-area balance vs individual-schedule balance, good vs bad inadvertent
interchange
NERC and FERC requirements
3. Operations with Vertically Integrated Utilities
Unit commitment
Economic dispatch
Regulation
Contingency reserves
Control area forecasts of loads and resources, effects of forecasts on unit
commitment and dispatch
Treatment of (payments and penalties for) energy imbalance and inadvertent
interchange
4. RTO Operations and Markets
Generation not owned by RTO, RTO must purchase outputs from generation and
load resources
Relationship between real-time operations and markets, how are resources
dispatched (and by whom) and how are they compensated
Time interval (1, 5, 10, or 15 minutes) for dispatch and price setting; what
are the tradeoffs in choosing among these intervals
Single market-clearing price in each interval vs pay-as-bid for each resource
Pay for energy only or pay also for maneuverability (e.g., ramp and
acceleration rates); how do resource constraints determine which resources
are permitted to set the market-clearing price and which aren't, and why?
Set prices ex ante or ex post? If prices set ex ante, what is the basis for
the value?
Should unit commitment (resource scheduling) be done by individual suppliers,
by RTO, or both?
Relationship between real-time markets and ICAP and RMR requirements, and RTO
requirements to ICAP and RMR units to bid resources into real-time market
Treatment of exports and imports, rules governing interchange scheduling
(number of schedule changes per hour permitted, ramp rates for schedule
changes)
To what extent does the RTO make short-term forecasts of load and generation,
how far into the future (10 minutes to 24 hours), how does the RTO use these
forecasts? Should the RTO commit and dispatch resources on the basis of
expected future conditions (i.e., beyond the current and next interval)? Who
pays for these RTO decisions?
Should RTO publish prices and let demand and supply respond to the price
signal, or should RTO dispatch resources up and down based on supplier bids?
If the RTO explicitly dispatches resources, should uninstructed deviations be
treated differently, in terms of payment or penalties, from instructed
deviations? What about a resource,s failure to follow instructions?
Under what circumstances should RTO go &out-of-market8 for resources? What
should set the price of (payment to) these resources?
Under what conditions, if any, are penalties appropriate, for what kinds of
behavior, what determines the magnitude of the penalty? Should penalties
apply to generation only or to loads also?
How, if at all, should capacity assigned to ancillary services (especially
the reserve services) be incorporated into real-time operations and markets?
For example, should the capacity assigned to contingency reserves be set
aside and used only when a major outage occurs? Or should such reserves be
used routinely whenever it is economic to do so, as long as sufficient
capacity is available to meet the NERC reserve requirements?
How should intermittent resources (e.g., wind) be treated in real-time
operations and markets? Should they be treated any differently from a large,
volatile load?
Can retail loads participate in real-time markets? How?
5. Case Studies of U.S. ISOs
California
PJM, New York, and New England
ERCOT
6. Conclusions and Recommendations
Key features of operations and markets
What works
What are the options
What problems still remain
----------------------------------------------
Eric Hirst
Consulting in Electric-Industry Restructuring
106 Capital Circle
Oak Ridge, TN 37830
865-482-5470 (phone & fax) [email protected]
http://www.EHirst.com/ |
As an industry, the generation business has gradually moved from an
environment focused on surplus reserve requirements to one of highly
volatile prices and robust generation margin spikes. As this shift has
occurred, the industry has had to adopt many of the risk management
practices employed in other commodity industries. For the most part, these
risk management practices have their genesis in the financial markets, where
sophisticated tools have also been developed to measure the success of these
practices.
The most commonly recognized measure of profit exposure to unforeseen events
has been Value at Risk (VAR). This Wall Street metric measures the
statistically supported loss exposure of a portfolio of assets and forward
positions to a short-term negative turn of events. While this is a very
useful measure of a speculative trading portfolio, its value does not
translate easily to measuring exposure of generation assets to profit
erosion.
Savvy power companies are deploying an additional risk metric, Profit at
Risk, to more accurately assess risks specific to the volatile electricity
trading market. A key feature of PAR is that, unlike VAR, it assumes that
positions will be taken through to delivery rather than closed out. The
full financial risk of highly volatile spot prices and volume risks
including unplanned outages, sudden increases in demand and delivery
failures by contract partners, is comprehended in this metric.
A blend of VAR and PAR risk metrics will create links between the front,
middle and back office trading operations, allowing traders to operate
within established risk parameters that both protect the enterprise and
maximize trading profits.
The Austin Group Energy, L.P. has been recognized as one of the fastest
growing companies in Houston, as denoted by the Houston Business Journal Top
100 List. We placed #21 and were the highest ranking executive search firm
in Houston. Below is a brief description of the type of candidates that are
open for immediate opportunities:
Ref# 00012123
Power Options Trading Desk
This PhD candidate is responsible for long term derivatives
trades/structures (Asian options, heat rate options, weather/power
derivatives structures, swing options etc.
Ref# 00012124
Rotational Program- Risk Analytics
This MBA Finance candidate is analyzing/evaluating structured transactions
and derivative instruments. Has developed a VBA-based delta-adjusted risk
exposure model for all asset management groups. Designed intermediate-term
forward power curve forecasting model based on gas forward curve. Created
Visual Basic Monte Carlo simulator for Excel for option analysis.
Ref# 00012125
Quantitative Analyst
This M.S. in Applied Mathematics candidate builds short term models
necessary to forecast/schedule usage on a portfolio basis, by various levels
of aggregation (e.g. region, congestion zone, weather zone, customer, etc.)
Constructing statistical and econometric models to accurately predict
seasonal customer usage based on rate class, calendar and geographic climate
patterns.
Ref# 00012126
Quantitative Analyst - Manager
This candidate developed and implemented two Value-At-Risk (VAR) methods for
Natural Gas. Developed and implemented models for pricing and hedging exotic
natural gas options (Gas Daily and Peaker). OpenLink experience with VaR and
mark-to-market calculations.
Ref# 00012127
Director Derivatives Trading and Portfolio Management
Developed Nymex and locational options, position risk management model.
Evaluated and assisted in the process of selecting and implementing a new
real time front and back office financial system with VAR capabilities.
Structured deals for marketers using embedded financial products and traded
traded natural gas options and fixed for float swaps. Priced and hedged
advanced options and swaps such as swaptions, asians, extendibles,
expandibles, and spread options.
Ref# 00012128
Risk Control Analyst
Support Origination and Trading activities by providing daily mark-to-market
values and VaR reports through accurate and timely entry of financial
transactions into RMS system. Maintain database for RMS system and
Integrated Commodity Trading System (ICTS) for entry of financial trades.
Ref# 00012129
Risk Manager
Responsible for all mid-office trader support functions. Responsibilities
include daily senior management position and P&L reporting, process
improvements, system implementations, structuring of originated
transactions, and rollout of an operational analysis plan.
Ref# 00012130
Senior Commercial Analyst: Pricing and Structures
Developing model to incorporate basis and transportation into gas fuel costs
utilized in mark-to-market valuation of a gas-fired generation asset.
Determined market value of regional power by confirming the marks estimated
by Entergy's trade desk against independent broker prices. Forecasted
resulting previous day's trade-to-market figure for preliminary valuation of
book value.
Ref# 00012131
Director - Risk Management
Analyze financial markets and advise physical traders of hedging and trading
opportunities. Analyze market, secure management approval of trading
strategies and execute financial trades. Generate position reports for
upper management.
Ref# 00012132
Risk Management Specialist
Perform risk management functions for the gas trading organization,
including daily position and P&L reporting. Ensure deal validation and
perform problem resolution for executed trades. Create daily VaR estimates
for both cash and term traders.
Ref# 00012133
Risk Analyst
Determine market value of regional power, confirming the market values
estimated by trade desk against prices set foependent brokers. Forecast
resulting previous day's trade-to-market figure for preliminary valuation of
book value. Participate in daily Value at Risk calculations, exception
reporting for daily variances, updating of daily price curves, and updating
proprietary models which value long term transactions.
Please contact me for detailed interview packets of each candidate. Should
you have further questions, do not hesitate to call.
Paul Johnson
President
(281) 497-8595
Visit our website
www.austingrp.com |
Subject: Prayer Wheel
Date: Thu, 30 Nov 2000 18:25:06 -0600
Prayer Wheel
Let's see the devil stop this one! Here's what the
wheel is all about. When you receive this, say a
prayer for the person that sent it to you....That's
all you have to do....There is nothing attached....
This is so powerful....Just send this to seven people
and watch God's answer to prayer work in your life. Do
not stop the wheel, please.... Of all the free gifts
we may receive, Prayer is the very best one..... There
are no costs, but wonderful rewards.... Let's continue
praying for one another.
Amen.
A Prayer
Father, I ask you to bless my friends reading this
right now. I am asking You to minister to their spirit
at this very moment.
Where there is pain, give them Your peace and mercy.
Where there is self doubting, release a renewed
confidence in Your ability to work through them.
Where there is tiredness, or exhaustion, I ask You to
give them understanding, patience, and strength as
they learn submission to Your leading.
Where there is spiritual stagnation, I ask You to
renew them by revealing Your nearness, and by drawing
them into greater intimacy with You.
Where there is fear, reveal Your love, and release to
them Your courage. Where there is a sin blocking them,reveal it, and
break
its hold over my friend's life.
Bless their finances, give them greater vision, and
raise up leaders, and friends to support, and
encourage them. Give each of them discernment to
recognize the evil forces around them, and reveal to
them the power they have in You to defeat it.
I ask You to do these things in Jesus' name.
In love, Your Friend
Passing this on to anyone you consider a friend will bless you both.
Passing this on to one not considered a friend is
something Christ would do.
______________________________________________________________________________
_______
Get more from the Web. FREE MSN Explorer download : http://explorer.msn.com
>From: "Miesha Moore" <[email protected]>
>To: [email protected], [email protected], [email protected],
>[email protected], [email protected], [email protected],
>[email protected], [email protected]
>Subject: Fwd: Prayer Wheel
>Date: Tue, 12 Dec 2000 17:10:46 -0000
>
>
>
>
>>From: [email protected]
>>To: [email protected], [email protected],
>>[email protected], [email protected]
>>Subject: Fwd: Prayer Wheel
>>Date: Mon, 11 Dec 2000 16:19:22 EST
>>
>>
______________________________________________________________________________
_______
Get more from the Web. FREE MSN Explorer download : http://explorer.msn.com
Return-path: <[email protected]>
From: [email protected]
Full-name: MonaD03
Message-ID: <[email protected]>
Date: Sat, 2 Dec 2000 20:17:50 EST
Subject: Fwd: Prayer Wheel
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To: [email protected], [email protected], [email protected],
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Subject: Prayer Wheel
Date: Thu, 30 Nov 2000 18:25:06 -0600
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Prayer Wheel
Let's see the devil stop this one! Here's what the
wheel is all about. When you receive this, say a
prayer for the person that sent it to you....That's
all you have to do....There is nothing attached....
This is so powerful....Just send this to seven people
and watch God's answer to prayer work in your life. Do
not stop the wheel, please.... Of all the free gifts
we may receive, Prayer is the very best one..... There
are no costs, but wonderful rewards.... Let's continue
praying for one another.
Amen.
A Prayer
Father, I ask you to bless my friends reading this
right now. I am asking You to minister to their spirit
at this very moment.
Where there is pain, give them Your peace and mercy.
Where there is self doubting, release a renewed
confidence in Your ability to work through them.
Where there is tiredness, or exhaustion, I ask You to
give them understanding, patience, and strength as
they learn submission to Your leading.
Where there is spiritual stagnation, I ask You to
renew them by revealing Your nearness, and by drawing
them into greater intimacy with You.
Where there is fear, reveal Your love, and release to
them Your courage. Where there is a sin blocking them,reveal it, and
break
its hold over my friend's life.
Bless their finances, give them greater vision, and
raise up leaders, and friends to support, and
encourage them. Give each of them discernment to
recognize the evil forces around them, and reveal to
them the power they have in You to defeat it.
I ask You to do these things in Jesus' name.
In love, Your Friend
Passing this on to anyone you consider a friend will bless you both.
Passing this on to one not considered a friend is
something Christ would do.
______________________________________________________________________________
_______
Get more from the Web. FREE MSN Explorer download : http://explorer.msn.com |
Dear eric,
ROCKETS 5-GAME OUTLOOK
The Rockets kick off a four-game West Coast road trip tonight in Sacramento. Other stops include Portland (Tuesday), Seattle (Friday) and L.A. to take on the Clippers (Sunday). Houston will then return home Tuesday, November 27 to host the Kings.
Or details about the next five games, check out the Rockets 5-Game Outlook (http://www.nbateamnews.com/i.cfm?DID=134695&UID=45456540&MID=188637).
ROCKETS ACTIVATE DAN LANGHI
The Houston Rockets have placed guard Tierre Brown on the injured list with plantar fasciitis of the left foot, General Manager Carroll Dawson has announced. In a related move, the Rockets activated forward Dan Langhi from the injured list.
Brown has seen action in one regular season game, recording two points and three assists while making his NBA debut at Denver on Nov. 9. The 6-foot-2, 189-pound rookie averaged 4.0 points and 2.3 assists for Houston in four preseason games. The McNeese State product received All-Southland Conference honors following each of the last two college basketball seasons.
Langhi has been sidelined for Houston's first nine games with a right ankle sprain. The 6-foot-11, 22-0 pound forward averaged 5.8 points and 1.8 rebounds in five Rockets preseason games. Langhi averaged 2.7 points and 1.2 rebounds as a rookie last year after being named the 2000 Southeastern Conference Player of the Year with Vanderbilt the previous season.
WATCH AND WIN ON UPN 20!
Be sure to tune in to tonight's Rockets-Kings game on UPN 20 for the chance to win a fabulous "Rockets Experience Package," featuring two tickets to the December 6 sold-out game against Michael Jordan and the Washington Wizards, and the opportunity to meet Moochie Norris prior to the game.
During tonight's telecast on UPN 20, Rockets broadcasters Bill Worrell and Calvin Murphy will make an announcement advising viewers to phone a special number. The 20th caller will receive a "Rockets Experience Package" and the chance to see the Washington Wizards' only visit to Houston this season, plus have an individual photo taken with Moochie Norris at center court.
To view the Official Rules and the list of upcoming Watch and Win on UPN 20 broadcasts, click here (http://www.nbateamnews.com/i.cfm?DID=134696&UID=45456540&MID=188637).
UPN 20 and the Rockets, Your Home for Rockets Basketball.
ROCKETS VIEWING PARTY
Join us Tuesday night at Mo's Place, 21940 Kingland at Mason Road, for another exciting Rockets Viewing Party!
The festivities begin at 8:30 p.m. and the Rockets vs. Blazers game will get underway at 9:00 p.m. There will be plenty of interactive games to take part in and the Rockets Power Dancers will be on hand to mingle with fans and sign autographs at halftime.
And don't forget about those great drink specials too!
So grab a friend or two and head out to Mo's Place Tuesday for a ton of fun and to cheer on the Rockets to another road victory!
To get to Mo's, take I-10 West to Mason Road. Exit Mason Road and turn left onto Mason Road. Mo's is located on 21940 Kingsland at Mason Road.
See you there!
COMPAQ QUESTION OF THE GAME
Be sure to tune in to Rockets broadcasts on UPN 20 this week for the Compaq Question of the Game.
During the first half of each Rockets broadcast on UPN 20, log on to rockets.com, look for the Compaq Question of the Game link, and submit a specific question to TV broadcasters Bill Worrell and Calvin Murphy about that night's game. Then just before the beginning of the third quarter, Bill and Calvin will select one question to answer live on the air!
In addition, all participants will be entered into a drawing for the chance to win a Compaq computer and an autographed Rockets item.
Log on to rockets.com now to send Bill and Calvin your question about tonight's Rockets-Kings game and then tune in to UPN 20 during the game to find out if you're the lucky fan we choose!
MO' BETTA BUNCH
Houston Rockets forward Maurice Taylor (http://www.nbateamnews.com/i.cfm?DID=134697&UID=45456540&MID=188637) has purchased 40 regular season tickets and will donate all of the seats to local non-profit community groups that serve underprivileged children. Taylor plans to make the Rockets home game seats available to the community groups throughout the remainder of the 2001-2002 NBA season. Appropriately dubbed the "Mo'Betta Bunch," Taylor's charitable endeavor will touch the lives of
more than 1,400 children in the Houston area.
Each "Mo' Betta Bunch" group attending a Rockets home game will receive reserved seating in Compaq Center, designated with a special, brightly colored banner, and an exclusive, red T-shirt sporting Taylor's name and Rockets jersey number. Schedule permitting, Taylor intends to personally welcome each "Mo' Betta Bunch" group to the game prior to tipoff.
"I am very pleased to have the opportunity to help our deserving youth and provide a Rockets game experience," said Taylor. "Having the ability to touch so many young lives and make a positive impact is truly rewarding."
The Rockets Community Services Department will be responsible for selection of groups to participate in "Mo' Betta Bunch" and the distribution of tickets and T-shirts.
The goal of Taylor's ticket donation program is to help non-profit groups who are already making a difference in the lives of children, but who lack the finances to provide extra-curricular activities.
INSIDE THE ROCKETS
Inside the Rockets is your chance to get up close and personal with Rockets players throughout the season. Each Monday we will ask a different question and the players' responses to that question will be posted. Be sure to check back each week to see their answers to an all-new question!
This week, Rockets players respond to the question:
"Who do you think was the most influential person in history?"
To check out their answers, click here .
-----------------------------------------------------
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Topics: Team news
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When asked about the source of my decorating and design inspirations, I recall fabrics and wood I have touched, smells I have enjoyed, and of course, people who have made impressions, and places I have been.
One such person was a woman, at least 85 years old, who lived in a most unlikely place--her antiques store. It was from another time and place, certainly not from the Southwest, which is where I happened upon her.
Upon discovering her quaint store, I banged the huge door-knocker a few times before she slowly opened the door. Her silver hair was pulled tightly into a bun, not unlike (I thought at the time) Katharine Hepburn. Her aura of elegance showed and her face sparkled with a bright smile. Who was she? Had she always lived in her store?
She let me in. Although it was not the holiday season, whispers of light were everywhere, high and low. The place was packed! She had the best and rarest antiques the world had to offer. Each piece was more polished than the previous. She loved living with her things; this was apparent.
After I had made a couple of twists and turns from one room to another, she approached and kindly offered tea. I declined her invitation. After I purchased an unusual bottle of sterling silver and ruby-colored crystal we said our good-byes. She opened the door, and I returned to the "real world."
It has been 24 years, and I've often thought of this elegant woman and her inviting shop. Whenever I do, I regret not having accepted her invitation for tea. The stories she could have told...
A place that has inspired my decorating sense is a wonderful old inn in upstate New York. High tea in the grand salon is replete with scones, light cookies and English tea, which guests savor as they relax in buttery-soft leather chairs, which are nestled by a huge stone fireplace. I've sat in those chairs for hours at a time watching the other guests -- always certain they were dressed in Victorian ball gowns (my husband, however, assures me they're were wearing blue jeans!)
This grand inn is just one of a thousand places that have inspired my decorating with its unique style and atmosphere -- I could have sworn it was haunted by kindred spirits -- I hope so.
Tips by Julee!!!
Tip #1. No cupboards near the kitchen sink? Install three glass shelves just above the sink or to the side of the window. Great for drinking glasses.
Tip #2. Have a contemporary powder room but prefer country-French?
* Remove the door to the vanity
* Strip the finish from the cabinet
* Paint in French blue, yellow or melon
* Hang a gathered French fabric in place of the door
* Pull one favorite color from the fabric and use for wall paint
Questions
I adore color, but my rooms are small. What can I do in choosing window coverings, lighting and furniture that will ensure my use of color will not make the rooms look smaller?
A small but effective trick I use is staying monochromatic. Do not allow a color from the smallest lampshade to the largest window treatment to jump out at you.
Julee, I have a small budget to update my bedroom. What can I skimp on and what should be an investment?
Invest in the finest rugs, art and furniture your budget allows. Now, go and have fun with linens. They're always affordable, so one can have many different looks and not break the bank.
Even though it's only January, I am ready to decorate for spring. What do you recommend?
Nothing says spring like flowers and pastel colors. Choose bedding in a floral pattern like daisies that complements your existing color scheme. Hang lightweight, gauzy window treatments in lace or a sheer material too, and arrange a vase or basket of fresh-cut flowers. The light colors and sunshine will warm any room, even in the middle of winter!
Time has run out again! I enjoyed receiving all the letters and comments from my devoted readers last year. Keep them coming in the new one!
As always,
Julee and the Domestications Team
http://www.domestications.com/default.asp?code=DOM-EMAIL-010902-ATEXT13
********************************************************************************
Celebrate the 100th year anniversary of Ansel Adams' birth with our fantastic Sale on this American inspiration.
See our entire collection of beautifully framed Ansel Adams photographs, on sale now! Click here:
http://domestications3.artselect.com/cgi-bin/frSearch?collection3439
********************************************************************************
Where to shop?
Lamps
http://www.domestications.com/dept.asp?dept%5Fid=14000&code=DOM-EMAIL-010902-ATEXT03
Window Treatments
http://www.domestications.com/dept.asp?parentname=Home+D%E9cor&dept%5Fid=11100&code=DOM-EMAIL-010902-ATEXT04
Fine, Handmade Wool Rugs
http://www.domestications.com/dept.asp?parentname=Rug+Bazaar&dept%5Fid=11550&code=DOM-EMAIL-010902-ATEXT05
Art
http://www.domestications.com/dept.asp?dept%5Fid=13000&code=DOM-EMAIL-010902-ATEXT06
Furniture
http://www.domestications.com/dept.asp?dept%5Fid=12000&code=DOM-EMAIL-010902-ATEXT07
Linens
http://www.domestications.com/dept.asp?dept%5Fid=9000&code=DOM-EMAIL-010902-ATEXT08
Daisies Bedding
http://www.domestications.com/parent2.asp?product=A10071x&dept%5Fid=8020&parentname=&featurename=&or%5Fsub%5Fparents=code=DOM-EMAIL-010902-ATEXT09
Lace Curtains
http://www.domestications.com/dept.asp?dept%5Fid=11105&code=DOM-EMAIL-010902-ATEXT10
Sheer Curtains
http://www.domestications.com/dept.asp?dept%5Fid=11108&code=DOM-EMAIL-010902-ATEXT11
Daisy Straw Hat Planter
http://www.domestications.com/product.asp?product=376659zz&dept%5Fid=13550&parentname=&featurename=code=DOM-EMAIL-010902-ATEXT12
---------------------------------------------------------------------------------
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Mark/Greg,
Please find attached a post-mortem of our weekend problems...
Summary is last paragraph in red.
Regards
-----Original Message-----
From: Terech, Henry
Sent: Sunday, June 10, 2001 11:23 PM
To: Bibi, Philippe A.; Donovan, Bill
Cc: Kean, Steven
Subject: Enron Center North/Enron Center South Damage & Restoration Overview
Bill/Philippe-
Below is a summary of the major problems which occurred the past 96 hours and
the steps taken to mitigate the damage and risk.
Enron Center North (1400 Smith)
As a result of the flooding downtown, approximately six skyscrapers had their
electrical vaults flooded and began to cause cascading problemd in the
electrical grid downtown. The net result was the loss of one of the two 35kv
circuits which serve 1400 Smith. We (engineers, EES Maint, electrical subs)
believe at the time the circuits blew we shifted from three phase to single
phase power, which caused an imbalance in the load to the building.
Consequently, UPS "C" which serves a portion of the Lv 34 Data Ctr, the Rolm
phone switch, and a protion of the Traders floors lost a circuitboard, and
blew two internal fuses. This power degradation caused PDU "S" on Lv 34 to
trip its main breaker and shutdown power load to servers and equipment on
this PDU. This occurred shortly after Noon on Saturday.
Response/Restoration
> UPS "D" transferred load from UPS "C" as the N+1 back up and carried the
full load of the UPS loss as designed
> EPSC/electrical sub (Henderson Electric); EES Maint; IT worked together to
power down systems to begin repair work by 4:00pm Saturday
> EPSC/EES Maint coordinated with Pillar/Henderson Elec to obtain replacement
parts and begin the repairs. By 9:30pm all repairs to UPS"C" had been made
and the system bought back on line. As a measure of extra protection the back
up genset for Enron Ctr North was in operation
> Reliant Energy restored the circuit at approximately 10:30pm Saturday
evening
> EPSC/EES Maint and subs conducted a thorough review of all electrical and
back up systems Saturday evening
> Enron Network IT Operations began restoration of all affected systems
Saturday evening
> EPSC/EES Maint obtained diesel fuel and topped off all gensets Saturday in
case of additional problems and due to fuel consumption during the outage
Other Building damage was limited to flooding in the tunnels, and water
damage/flooding to portions of the Body Shop on Lv B-1
Enron Center South (1500 Louisiana)
Impact/Damage Summary
> Levels 8 & 9 received very limited amounts of water from the core area
elevator shafts and exterior curtainwall. There was no exposure to water on
any systems or network cabling during the entire period. (Response) Crews
contained and cleaned all water as it traced into the building.
> ALL IDF closets on Lvs 3-5 Traders Floors remained dry throughout the
duration of the rains/flooding on Friday & Saturday
> Lv 6 received some water from Lv 7. (Response) The area was contained and
cleaned. No additional damage beyond Tuesday evenings flooding occurred
> Due to extreme street flooding and water pressure, a 10" sanitary sewer
line tied into ECS burst on Friday evening causing extensive flooding of Lv
B-1 area (approximately 4-6 inches of water in the basement. (Response)
Clark & Way Engr was able to install a temporary plug in the line to stop the
on going flood waters from penetrating the basement. Clean up has continued
throughout the weekend
> Due to the extreme flooding and water pressure, the water seal of the
Reliant Vault burst early Saturday and flooded the electrical vault room with
24-30" of water. This resulted in a complete loss of power at approximately
1:30pm on Staurday afternoon. The back up systems engaged and operated per
design to support the Data Ctr and Traders Floors. The temporary cooling
tower went off line. Prior to the flooding Clark had been in the process of
tieing in the temporary feed into the back up system by 7-1-01 in prep for
the migration (Response)
* Clark used back up water pumps to pump out and clean the Reliant
electrical vault, as well as maintained operation of the back up systems
* The Data Ctr AHU's were kept on line with the dehumidifiers/blowers to
modulate the airflow in the Data Ctr. EPSC had Way Engr techs use
temp/humidity probes
to monitor the areas. The recordings indicated temps on Lvs 8 & 9 did not
exceed 78 degrees and relative humidity did not exceed 68% during the outage
* Clark/Fisk Elec/EPSC coordinated desing efforts and obtained gear on an
emergency basis and completed the tie in off the temporary coolong tower to
the
generators by 10:30pm
* Reliant Energy is still cleaning and replacing gear in th vault room.
Presntly (AT 11:00PM Sunday) we have one circuit operational in the building
and 50% of the
Reliant gear on line). We are still operating all systems
safely on the back up sytems for the past 36 hours. It is expected Relaint
will be complete by 7:00am.
Clark; the engineers and MEP subs shall be conducting a thorough system
review and repirs as required of all systems throughout the building during
the coming
week.
In summary, the back up systems in both facilities did engage and operate as
designed; however, due to the extreme conditons and stress placed upon the
systems the facility held up extremely well. I would also like to note
throughout the ordeal beginning Friday evening through Sunday, everyone
(Enron NetWorks;EES FacilitiesClark Const;Way Engring;Fisk Electric;Henderson
Electric; KW-Pillar;Hines) did an outstanding job under enourmous pressure
and the most severe conditions I have seen in downtown Houston.
Communication, around the clock work and cool heads managed to assess damage
and develop action/restoration plans to facilitate repairs for Monday business
Let me know if you need further details on specific issues or items.
regards-
Henry |
---------------------- Forwarded by Susan M Scott/HOU/ECT on 02/24/2000 07:54
AM ---------------------------
Enron Capital & Trade Resources Corp.
From: "C. Scott" <[email protected]> 02/24/2000 06:15
AM
Please respond to "C. Scott" <[email protected]>
To: "Wilbur & Betty Williams" <[email protected]>, "Travis Kelley"
<[email protected]>, "Susan Margaret Scott" <[email protected]>, "Pat and
Paige Lentz" <[email protected]>, "Mike Oldham"
<[email protected]>, "Kana, Kristi M."
<[email protected]>, "Charlee Marshall Williamson"
<[email protected]>
cc:
Subject: Fw: You Know You're In Austin, TX When...
-----Original Message-----
From: Whitley, Stacie <[email protected]>
To: '[email protected]' <[email protected]>
Date: Wednesday, February 23, 2000 9:37 AM
Subject: FW: You Know You're In Austin, TX When...
>Know you can relate to this one!
>
>> -----Original Message-----
>> From: Kevin P. Kellar [SMTP:[email protected]]
>> Sent: Tuesday, February 01, 2000 10:25 AM
>> To: [email protected]; Mark & Stacie Whitley; Agnes Whitley
>> Subject: FW: You Know You're In Austin, TX When...
>>
>>
>> YOU KNOW YOU'RE IN AUSTIN WHEN...
>>
>> Your co-worker tells you they have 8 body piercings, but none are
visible.
>>
>> You make over $100,000 and still can't afford a house.
>>
>> You never bother looking at the Captial Metro schedule because you know
>> the
>> drivers have never seen it.
>>
>> You've been to more than one baby shower that has two mothers and a sperm
>> donor.
>>
>> You have a very strong opinion where your coffee beans are grown and can
>> taste the difference between Samatran and Ethiopian.
>>
>> A really great parking space can bring you to tears.
>>
>> You know that anyone wearing pants in November is just visiting from
Ohio.
>>
>> Your child's 3rd grade teacher has two pierced ears, a nose ring and is
>> named "Breeze." And, after telling that to a friend, they still need to
>> ask if the teacher is male or female.
>>
>> You are thinking of taking an adult education class but you can't decide
>> between Yoga, Aromatherapy, Conversational Mandarin or one on building
>> your
>> own website.
>>
>> You haven't been to Hippie Hollow since the first month you moved to
>> Austin.
>>
>> A man walks on The Drag in full leather regalia and crotchless chaps.....
>> You don't notice.
>>
>> A woman walks on The Drag with live poultry.....You don't notice.
>>
>> You think any guy with a George Clooney haircut must be visiting from the
>> Midwest.
>>
>> You know that any woman with a George Clooney haircut is not a tourist.
>>
>> You keep a list of compaies to boycott.
>>
>> Your hairdresser is straight, your plumber is gay, the man who delivers
>> your mail is straight, and your Mary Kay Lady is a guy in drag.
>>
>> You occasionally see a guy on a unicycle whiz buy you while you're in
your
>> car and you say to yourself, "Oh yeah, it's that guy again...."
>>
>> You start to worry when you don't see the cross-dressing, bearded guy
>> in-a-tutu-and-bikini-top-who-has-made-a-statement-with-his-grocery-cart-
>> and-cardboard-box-art/shelter on your way to work in the morning.
>>
>> You'll make dinner or bar plans around who's got the best margaritas.
>>
>> You have a tough time deciding on one of Austin's six 24-hour eating
>> options (IHOP, Denny's, Katz', Kerby, Stars, or Magnolia Cafe)
>>
>> You complain about their prices but still shop at Central Market for the
>> scene.
>>
>> You don't even think about getting good seats to the Longhorn's football
>> games.
>>
>> You know the exact locations of three towing yards.
>>
>> Your summer shoes are your Birks and your winter shoes are your Birks
with
>> socks.
>>
>> Your entire wardrobe consists of: a black tank-top, a GAP white T-shirt,
>> second hand Levi's, second hand cut-off Levi's, overalls, Longhorn
sweats,
>> anything polyester from the 70s, a bikini, Tevas, Birks, and running
>> shoes.
>>
>> Dressing up to go out for a woman means throwing a tank top on over the
>> sports bra you've had on all day because it's so DAMN HOT!
>>
>> You often find yourself wondering why magazine editors insist that
>> swimsuit season starts on Memorial Day when it's really the end of
>> February or at the latest, the beginning of March.
>>
>> You consider chips, salsa, Kerby Queso, and Shiner Bock Beer a
>> well-balanced meal.
>>
>> You find yourself making beaded necklaces to give as Christmas gifts.
>>
>> 100 degrees for three straight months isn't unreasonalble, 110 degrees
is.
>> (And 90 degrees anywhere between May and September seems a bit chilly)
>>
>> You figure skin cancer is inevitable beacuse it is so hot that even your
>> sunscreen won't stay on.
>>
>> When you go out, you make sure you've grabbed you waterbottle before
>> checking to see if you've got your wallet and keys.
>>
>> You don't mind parking a mile away as long as it's in the shade.
>>
>> You spend so much time at MoJo's Coffee House you finally start bringing
>> in
>> your own CD's for the staff to play.
>>
>> Your professor decides in the middle of the Government lecture that now's
>> as good of time as ever to tell his class of 500 he's gay. Like you
>> didn't
>> know. Like you even care.
>>
>> (Gals) You ask yourself constantly if that's a cute guy or a butch girl.
>>
>> And you don't really care either way because it's fun to wonder.
>>
>> You'd rather ride your bike than get in a car without air conditioning.
>> At least on your bike, you're guaranteed a breeze regardless of traffic.
>>
>> You see more Texas flags flying than American flags.
>>
>>
>>
>>
>>
>>
>>
>
> |
Jude:
Attached below are my comments to the Co op City Term Sheet I sent out
Sunday night. Unfortunately, it may not have been delivered off my laptop
due to a failed connection on the intranet. Here it is. I didn't correct
several spelling errors in the draft from the Squires' lawyer.
I saw Kay Mann's comments (which corrected the spelling errors) and her
comments by-in-large look to be OK. I am copying Kay on this message in
order to speed up the review.
Jude, One last little item: my correct email address is either
[email protected] <mailto:[email protected]> or [email protected]
<mailto:[email protected]> . There are two other "David L's" in the NEPCO
organization and if the email address isn't correct the message sits in the
message inbox for these other individuals until they figure out the message
is for me. Once the Houston office converts to Microsoft Outlook, this
problem will go away. Thanks.
David H. Lund, Jr.
Assistant General Counsel
National Energy Production Corporation
11831 North Creek Parkway N.
Bothell, WA 98011
425-415-3138
Fax: 425-415-3032
[email protected] or [email protected]
-----Original Message-----
From: B-David Lund
Sent: Sunday, January 28, 2001 9:48 PM
To: B-Gene Larson
Cc: E-John Schwartzenburg; [email protected]
<mailto:[email protected]>
Subject: FW: Draft Coop City Term Sheet - priority.
Gene, I marked up the attached term sheet for the ENA Coop City project. I
highlighted some commercial terms that need your attention. Let's discuss
and call Paul Myford after you complete your review. I only focused on the
EPC scope and not the O&M scope.
David H. Lund, Jr.
Assistant General Counsel
National Energy Production Corporation
11831 North Creek Parkway N.
Bothell, WA 98011
425-415-3138
Fax: 425-415-3032
[email protected] or [email protected]
-----Original Message-----
From: [email protected] <mailto:[email protected]>
[mailto:[email protected]]
<mailto:[mailto:[email protected]]>
Sent: Wednesday, January 24, 2001 2:59 PM
To: [email protected] <mailto:[email protected]> ;
[email protected] <mailto:[email protected]> ; [email protected]
<mailto:[email protected]>
Cc: [email protected] <mailto:[email protected]> ;
[email protected] <mailto:[email protected]> ;
[email protected] <mailto:[email protected]> ;
[email protected] <mailto:[email protected]> ; [email protected]
<mailto:[email protected]>
Subject: Draft Coop City Term Sheet - priority.
<<Co-OpCity-TermSheet-0112.doc>>
I had earlier sent this to Gene and Dave asking how they want to proceed
with the work on this term sheet. I am delinquent copying this to Peter as I
had discussed Monday.
I suggest that teh commercial terms be vetted by Gene, and that he and Dave
work it overall. If Dave cannot work it, the Carlos Sole should be able to
provide the legal input for NEPCO. This is not a Randy Pais or Scott
Dieball assignment.
Please let Peter Nassab know if you need the Houston Contracts gropu
support.
I am out Thursday and Friday, and will be back monday and can look at it
then if the team still needs help. I cannot get e-mail after today until
Monday.
JWVS
Paul Myford
To: John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
<mailto:Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT>
01/19/2001 cc: Jude
Rolfes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
<mailto:Rolfes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT> , John
10:02 AM
Normand/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
<mailto:Normand/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT>
Subject: FW: Draft Coop City
Term Sheet
John:
This is the document I was talking about. The Jan 17 meeting was
reschedule for next week. We need legal and contracts to review.
Thanks
Paul
---------------------- Forwarded by Paul Myford/ENRON_DEVELOPMENT on
01/19/2001 09:57 AM ---------------------------
Jude Rolfes on 01/18/2001 03:19:09 PM
To: [email protected] <mailto:[email protected]>
cc:
Subject: FW: Draft Coop City Term Sheet
Paul,
Please circulate and get comments as necessary.
Thank you
Jude
----- Forwarded by Jude Rolfes/ENRON_DEVELOPMENT on 01/18/2001 03:17 PM
-----
"Henneberry, Lisa G."
<[email protected] <mailto:[email protected]> >
To: "'[email protected]'" <[email protected]
<mailto:[email protected]> >,
"'[email protected]'" <[email protected] <mailto:[email protected]> >,
"'[email protected]'"
01/15/2001 07:38 AM <[email protected]
<mailto:[email protected]> >
cc: "Ragals, Jr., William C."
<[email protected] <mailto:[email protected]> >
Subject: FW: Draft Coop City Term Sheet
It looks as though this did not go through the first time. My apologies
for
the delay.
Lisa G. Henneberry
Squire, Sanders & Dempsey L.L.P.
1201 Pennsylvania Avenue, N.W.
Washington, D.C. 20004
(Tel) 202-626-6640
(Fax) 202-626-6780
[email protected] <mailto:[email protected]>
www.ssd.com <http://www.ssd.com> <http://www.ssd.com <http://www.ssd.com> >
> -----Original Message-----
> From: Henneberry, Lisa G.
> Sent: Sunday, January 14, 2001 10:24 PM
> To: [email protected] <mailto:[email protected]> ;
[email protected] <mailto:[email protected]> ; [email protected]
<mailto:[email protected]> ;
> [email protected] <mailto:[email protected]> ;
[email protected] <mailto:[email protected]>
> Cc: White, Robert I.; Ragals, Jr., William C.; Levey, Kevin S.;
> [email protected] <mailto:[email protected]> ; [email protected]
<mailto:[email protected]>
> Subject: Draft Coop City Term Sheet
>
> Further to our discussions last week, attached is a preliminary
draft of
> the term sheets for the development of the Coop City project,
including
> indicative terms for EPC, O&M, and Asset Management. Since we
haven't
yet
> discussed the terms in any significant detail, the attached
remains
> somewhat general with respect to some items and includes
significant
> assumptions with respect to other. Nonetheless, it is a starting
point
> for our discussions next week.
>
> As discussed last week, for the sake of expediency, this draft is
being
> distributed simultaneously to all parties and has not been
separately
> reviewed by my clients. It therefore remains subject to internal
review
> and comment.
>
> Next week's meeting has been scheduled at our offices in New York,
> beginning on Wednesday, January 17 at 1:30 p.m. until Thursday
afternoon.
> Our offices are located at:
>
> Squire, Sanders & Dempsey L.L.P.
> 350 Park Avenue, 15th floor
> New York, NY
> Tel: 212-872-9800
> Fax: 212-872-9815
>
> We look forward to seeing you then. In the meantime, should you
have any
> questions, please do not hesitate to contact me. Best regards.
>
> <<Co-OpCity-TermSheet-0112.doc>>
>
> Lisa G. Henneberry
> Squire, Sanders & Dempsey L.L.P.
> 1201 Pennsylvania Avenue, N.W.
> Washington, D.C. 20004
> (Tel) 202-626-6640
> (Fax) 202-626-6780
> [email protected] <mailto:[email protected]>
> www.ssd.com <http://www.ssd.com> <http://www.ssd.com
<http://www.ssd.com> >
>
(See attached file: Co-OpCity-TermSheet-0112.doc)
- Co-OpCity-TermSheet-0112.doc |
Received the following additional information late yesterday from Speaker Hertzberg's chief of staff regarding Direct Access in the legislation working its way through the Assembly. He relayed the information during an informational hearing that an Assembly committee had on the bill yesterday in Sacramento. See previous note attached below for more a detailed description of DA provisions in the bill:
A new print of the bill is likely to be issued today.
With respect to DA, the Governor is apparently responsible for the temporary suspension of DA in the bill.
Assembly Ds and other market participants lobbied him hard, explaining that, since the bill covers all costs of bonds and DWR contracts through "exit fees," there is no reason to suspend DA.
The Governor is resisting hard, stating that "he wants time for the market to stabilize."
So it looks like the Governor's plan is to 1) have a bill that provides for Direct Access as of 1.1.03 and 2) have the PUC "temporarily suspend" DA from September 1 to 1.1.03.
We're continuing to work with with business customers to eliminate, or significantly shorten, the suspension.
The bill apparently will also have amendments stating that any customer who has switched by August 23, 2001 (yesterday) will not be responsible for any DWR going forward contracts. The customer will have to pay for any power consumed that DWR purchased on the IOUs' behalf between Jan 17 and the date of the switch.
The bill apparently will require that any customer switching between yesterday and Sept 1 be responsible for DWR going forward contracts (though details of how that would work were not clear).
The stated reason for wanting to insert an amendment on the August 23rd date is to prevent a "rush" to Direct Access between now and Sept 1.
There are currently NO efforts to break or othewise dissallow any contracts signed prior to Sept 1.
Finally, the bill apparently will also give self-generation priority over Direct Access in each "open season." The bill would set aside 250 MW of the short position each year for customers to do self gen. If the self gen is not subscribed, the MWs would go to DA.
The bill, including these amendments and other amendments related to other issues, is supposed to be released today.
The bill will be heard in the Assembly committee on Monday afternoon.
We continue to work with the business customers to improve the DA and self gen provisions.
It remains unclear whether there is sufficient support for the bill to pass the Assembly.
The politicians are very reluctant to pass any "Edison bail out bill" and the political pressure not to vote on any "bailout" is significant and growing. But the Governor is working the bill very hard.
Mirant is actively working against the bill.
Mirant is passing around a poll allegedly showing that any member that votes for a "bailout" could lose re-election. Mirant is also distributing a letter implicitly threatening to take Edison into involuntary bankruptcy if the bill passes.
The bill also has to make it through the Senate. Our lobbyist had a conversation yesterday with the Senate President, John Burton, who said flatly that "he's not doing anything." But there is much to trade in the final weeks of the session, and the possibility of Burton doing a deal is 50-50.
With respect to the bill's provisions preventing Edison from paying wholesale providers with the "dedicated rate component" included, Edison representatives at the hearing yesterday announced that Edison intends to issue first mortgage bonds to pay the suppliers. Edison also said that, under the Assembly version of the bill, Edison believes that it would have the borrowing capacity to issue the first mortgage bonds.
More info to follow as it becomes available. If anyone has any questions, don't hesitate to contact me.
Best,
Jeff
-----Original Message-----
From: Dasovich, Jeff
Sent: Wednesday, August 22, 2001 8:08 PM
To: [Dasovich, Jeff]
Subject: Latest Legislative Version of Direct Access --08.22.01
The following is a summary of the Direct Access provisions in the bill language released this afternoon reflecting the deal that Davis cut with Assembly. Things are very fluid and these provisions could change significantly.
I was just informed by the large business customers that they just met with the Davis' and Hertzberg's staff and the staff have agreed to amend the DA provisions to make them considerably more favorable for customers and suppliers. They also said that favorable provisions with respect to self-gen would also be added to the bill. They said that these new amendments could come out as early as tonite or tomorrow morning and that the bill may be heard tomorrow.
Note: In addition to the DA provisions, the bill also includes provisions that 1) explicitly recognize the PX Credit as part of Edison's undercollection, and 2) permit Edison to pay debts associated with the negative PX credit. (The bill does not authorize Edison to pay power suppliers, however, and leaves that portion of Edison's debt for Edison's management and shareholders to address.)
Summary of Direct Access provisions:
The program would begin January 1, 2003.
It's unclear what would happen to DA between now and January 1, 2003. Presumably, the decision to suspend, or not, between now and then would stay with the California PUC.
90 days after the effective date of the bill, and every 6 months thereafter, DWR would provide information to the PUC showing the net short position.
Every 6 months, the PUC would hold an open season permitting customers to switch to DA.
20 KW-and-above customers would have 60 days to decide to switch once the PUC has announced the open season; under 20kw customers would have 180 days.
Customers who switch to DA would be responsible for paying 1) the customer's proportionate share of the utility's undercollection and 2) the customer's proportionate share of DWR's receivables (if any) for power previously delivered by DWR (but not yet fully paid for by customers).
In addition, if the number of customers who elect to choose to go DA in the open season exceeds the net short, then DA customers will have to pay their proportionate share of any DWR stranded contract costs.
If the number of DA customers does not exceed the net short position, then no stranded contract cost fees would be assessed.
Best,
Jeff |
Susan, Thanks for the draft exhibit. My first comment is that the general
approach taken by Socal tends to "generalize" the Socal receipt points by
noting all upstream pipeline market possibilities. I think this is helpful
in that we should stay focused on the Socal structure and not worry about
upstream mismatches. All receipt points apparently are mismatched so they
all are similarly situated. It would therefore be of no particular use for
the ALJ to dwell on this topic to long in this proceeding.
Some additional comments;
Wheeler Ridge - Incoming Interstate Capacity : ok , K/M testimony
unchallenged at 1 bcf/d
- Take Away : PG&E No.Cal assumes full displacement volumes and
bi-directional flow
capacity of at least 200 mmcfd
K/M to PG&E - list 200 mmcfd , I know it has
physically done over 350 mmcfd
Hector Rd. - ok
K/M to Las Vegas should be closer to 200 mmcfd
Hector Road - Strike the asterisk and comment concerning Hector deliveries
limited by TW. Additional information not required.
No. Needles,South Needles, Blythe - OK ., Socal doesn't mention Sempra's
Mexico project
No mentions - Southern Trails Pipeline, All American or any other announced
but not in service pipeline project
Call if you have questions, if we can slightly modify this exhibit, it will
probably work.
Mark,IGS
> -----Original Message-----
> From: [email protected] [mailto:[email protected]]
> Sent: Tuesday, June 13, 2000 3:59 PM
> To: [email protected]; [email protected]
> Subject: FW: Late Exhibit Draft
>
>
>
> Check this out.
> (apparently I'm on the mailing list but did not receive the
> e-mail for some
> reason...)
> ---------------------- Forwarded by Susan Scott/ET&S/Enron on 06/13/2000
> 05:55 PM ---------------------------
>
>
> Jeff Dasovich @ EES on 06/13/2000 05:50:04 PM
>
> To: Susan Scott/ET&S/Enron@Enron
> cc:
>
> Subject: FW: Late Exhibit Draft
>
>
> ---------------------- Forwarded by Jeff Dasovich/SFO/EES on 06/13/2000
> 03:49 PM ---------------------------
>
>
> "Cherry, Brian - TPBKC" <[email protected]> on 06/13/2000 02:35:23 PM
>
> To: "'Pocta, Robert M.'" <[email protected]>, "Cherry, Brian - TPBKC"
> <[email protected]>, "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>, "'[email protected]'"
> <[email protected]>, "'[email protected]'"
> <[email protected]>, "'[email protected]'"
> <[email protected]>, "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>, "'[email protected]'"
> <[email protected]>, "'[email protected]'"
> <[email protected]>, "'Gileau, Patrick L.'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'"
> <[email protected]>, "'[email protected]'"
> <[email protected]>, "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>, "'[email protected]'"
> <[email protected]>, "'[email protected]'" <[email protected]>,
> "'[email protected]'" <[email protected]>,
> "'[email protected]'"
> <[email protected]>, "'[email protected]'"
> <[email protected]>, "Betonte, Robert - TP2RSB"
> <[email protected]>, "Brill, Thomas R." <[email protected]>,
> "Follett, B. David - TPDBF" <[email protected]>, "Harrigan, James
> P. - TP1JPH" <[email protected]>, "Hay, James E."
> <[email protected]>, "Lorenz, Lad - TPLPL" <[email protected]>,
> "McVay, Nancy W - TPNWM" <[email protected]>, "Morrow, Rick -
> TP3RMM" <[email protected]>, "Purves, Ralph A."
> <[email protected]>, "Sakarias, Wayne P." <[email protected]>,
> "Schavrien, Lee" <[email protected]>, "Sullivan, Glen J."
> <[email protected]>, "Surak, Thomas M. - TP1TMS"
> <[email protected]>, "Teeter, James S." <[email protected]>, "Van
> Lierop, Jan - TP2JXV" <[email protected]>, "Watson, Steven -
> TP2SAW" <[email protected]>, "Wright, Gillian - TP1GXW"
> <[email protected]>, "Barker, David - TPDTB"
> <[email protected]>,
> "'How-Downing, Lindsey'" <[email protected]>, "'Jun,
> Christine'" <[email protected]>, "'Gileau, Patrick L.'"
> <[email protected]>, "'Khoury, Dexter'" <[email protected]>,
> "'[email protected]'" <[email protected]>, "Nelson, Eric B. - TPEBN"
> <[email protected]>, "Suwara, J.- TPJUS" <[email protected]>,
> "Wright, Gillian - TP1GXW" <[email protected]>, "Reed, William"
> <[email protected]>, "'Pedersen, Norman'" <[email protected]>,
> "'Paul, Joe'" <[email protected]>, "'Hawiger, Marcel'"
> <[email protected]>, "'Fawcett, Jeff'" <[email protected]>, "'O'Neill,
> Ed'" <[email protected]>, "'Power, Pat'" <[email protected]>, "'Ramirez,
> Jaime'" <[email protected]>, "'Black, Larry'"
> <[email protected]>, "Fair, Pam" <[email protected]>,
> "'Hall, Rich'"
> <[email protected]>, "'Eisenman, Eric'" <[email protected]>, "'Stoner, Ron'"
> <[email protected]>, "'McConn, Kathy'" <[email protected]>
> cc:
> Subject: FW: Late Exhibit Draft
>
>
>
>
> Attached for your review and comment is a draft table identifying incoming
> interstate capacity at receipt points on SoCalGas' system and a system map
> identifying those locations, per the request of ALJ Biren.? We have
> confirmed wherever possible the incoming receipt point capacities with the
> pipelines and also tried to fairly characterize the take-away capacities
> and deliveries from those receipt points.? Please forward your comments to
> me as soon as possible so that we can coordinate the filing of the draft
> exhibit to the service list by July 16.
>
>
>
> ? <<exhibitpipecap.xls>> <<SoCalGas.doc>>
>
> (See attached file: exhibitpipecap.xls)
> (See attached file: SoCalGas.doc)
>
>
>
> |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/19/2000
02:44 PM ---------------------------
Kevin Kindall@ENRON
12/19/2000 02:06 PM
To: Vince J Kaminski/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT
cc:
Subject: Braveheart
FYI...
---------------------- Forwarded by Kevin Kindall/Corp/Enron on 12/19/2000
02:08 PM ---------------------------
Gail Tholen@ECT
12/19/2000 01:39 PM
To: Li Sun/NA/Enron@Enron
cc: Kevin Kindall/Corp/Enron@ENRON, Eugenio Perez/HOU/ECT@ECT
Subject: Braveheart
New TRS for 4Q.
---------------------- Forwarded by Gail Tholen/HOU/ECT on 12/19/2000 01:32
PM ---------------------------
Connie Lee@ENRON COMMUNICATIONS
12/19/2000 09:40 AM
To: Gail Tholen/HOU/ECT@ECT
cc: Amin Maredia/Enron Communications@Enron Communications, Michael
Krautz/Enron Communications@Enron Communications, Alan
Quaintance/Corp/Enron@Enron
Subject: Braveheart
Gail,
I have attached several emails which have the following items:
1. Hawaii 125-0 docs
2. Economic Summary that includes a summary of all assumptions in the model
3. Models
4. Asset Summary
The following is a structure diagram:
Please let me know when you would like to meet to discuss these items. Also,
Alan Quaintance is the person who reviewed the Hawaii 125-0 docs, so if you
have any questions regarding those docs, you will probably need to meet with
him.
Thank you!
Connie Lee
Manager
Enron Broadband Services
713/345-8227 (W)
713/419-2728 (C)
[email protected]
----- Forwarded by Connie Lee/Enron Communications on 12/19/00 09:22 AM -----
[email protected]
12/13/00 08:37 PM
To: [email protected], Amin Maredia/Enron Communications@Enron
Communications, [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
Brian Wood/Enron Communications@Enron Communications,
[email protected], [email protected], Connie Lee/Enron
Communications@Enron Communications, [email protected], David Koogler/Enron
Communications@Enron Communications, Ed Smida/Enron Communications@Enron
Communications, Gil Melman/Enron Communications@Enron Communications,
[email protected], Kevin Howard/Enron Communications@Enron
Communications, James Ginty/Enron Communications@Enron Communications,
[email protected], [email protected], [email protected],
[email protected], [email protected], Kristina
Mordaunt/Enron Communications@Enron Communications, [email protected],
Luitgard Fischer/Enron Communications@Enron Communications, Marc Hensel/Enron
Communications@Enron Communications, [email protected],
[email protected], [email protected], Michael Krautz/Enron
Communications@Enron Communications, [email protected],
[email protected], Renee St. Louis/Enron Communications@Enron
Communications, Richard Anderson/Enron Communications@Enron Communications,
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected]
cc:
Subject: McGarret H (Blockbuster)
Attached are the latest blacklines for McGarret H (Blockbuster) in Word
and Word Perfect format. Below is a list of the documents included:
1. Asset Notice
2. Series Certificate
3. Series Supplement
4. Drawdown Request
5. Total Return Swap Confirmation
6. Put Option Agreement
7. Put Option Assignment
8. Notice of Put Option Assignment
9. Membership Interest Assignment and Ratification
10. Asset LLC Agreement
11. Transferor LLC Agreement
12. Receipt of Asset LLC
13. Receipt of Transferor
14. Receipt of Trust
15. Independent Auctioneer Letter Agreement
16. Transfer and Auction Agreement
17. B Interest Assignment Agreement
18. Direction Letter to Owner Trustee
19. Payment Direction Letter
Let me know if you have problems with any of the attached documents.
Jonathan Wylie
Associate
Andrews & Kurth LLP
1717 Main St., Suite 3700
Dallas, Texas 75201
214-659-4514
CONFIDENTIALITY NOTICE: The information in this e-mail (including any
attachments) is confidential, legally privileged and intended only for
the use of each recipient named above. If you are not an intended
recipient, you must not read, use or disseminate this information. If
you have received this e-mail in error, please notify the sender
immediately by reply e-mail and delete this e-mail from your computer.
<<271595.DOC>> <<271595.WPD>> <<271599.DOC>> <<271599.WPD>>
<<271616.DOC>> <<271616.WPD>> <<271618.doc>> <<271618.wpd>>
<<271619.doc>> <<271619.wpd>> <<271675.doc>> <<271675.wpd>>
<<271677.doc>> <<271677.wpd>> <<271679.doc>> <<271679.wpd>>
<<271733.doc>> <<271733.wpd>> <<271737.doc>> <<271737.wpd>>
<<271739.DOC>> <<271739.WPD>> <<271742.doc>> <<271742.wpd>>
<<271745.doc>> <<271745.wpd>> <<271753.DOC>> <<271753.WPD>>
<<271763.doc>> <<271763.wpd>> <<271765.doc>> <<271765.wpd>>
<<271767.DOC>> <<271767.WPD>> <<271777.doc>> <<271777.wpd>>
<<272972.doc>> <<272972.wpd>>
- 271595.DOC
- 271595.WPD
- 271599.DOC
- 271599.WPD
- 271616.DOC
- 271616.WPD
- 271618.doc
- 271618.wpd
- 271619.doc
- 271619.wpd
- 271675.doc
- 271675.wpd
- 271677.doc
- 271677.wpd
- 271679.doc
- 271679.wpd
- 271733.doc
- 271733.wpd
- 271737.doc
- 271737.wpd
- 271739.DOC
- 271739.WPD
- 271742.doc
- 271742.wpd
- 271745.doc
- 271745.wpd
- 271753.DOC
- 271753.WPD
- 271763.doc
- 271763.wpd
- 271765.doc
- 271765.wpd
- 271767.DOC
- 271767.WPD
- 271777.doc
- 271777.wpd
- 272972.doc
- 272972.wpd
----- Forwarded by Connie Lee/Enron Communications on 12/19/00 09:22 AM -----
Renee St. Louis
12/14/00 06:41 PM
To: Connie Lee/Enron Communications@Enron Communications
cc:
Subject: SEE ATTACHED
----- Forwarded by Connie Lee/Enron Communications on 12/19/00 09:22 AM -----
Renee St. Louis
12/18/00 04:17 PM
To: Luitgard Fischer/Enron Communications@Enron Communications
cc: Connie Lee/Enron Communications@Enron Communications
Subject: models
Louie -
I've attached all of the models, asset summary, etc. Connie is familiar with
them, and I will visit with her again before I leave.
Thanks!
Renee |
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Info from the press conference today
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 02/08/2001 11:51 AM -----
"Allen, Stevan" <[email protected]>
02/08/2001 10:39 AM
To: "Beiser, Megan" <[email protected]>, "''[email protected]' '"
<[email protected]>, "'Aaron Thomas (E-mail) (E-mail) '"
<[email protected]>, "'Andrea Weller (E-mail) (E-mail) '"
<[email protected]>, "'andrew Chau (E-mail) (E-mail) '" <[email protected]>,
"'Bill Chen (E-mail) (E-mail) '" <[email protected]>, "'Douglas Oglesby
(E-mail) (E-mail) '" <[email protected]>, "Fairchild, Tracy"
<[email protected]>, "'Jeffrey Hanson (E-mail) (E-mail) '"
<[email protected]>, "'jennifer Chamberlin (E-mail) (E-mail) '"
<[email protected]>, "'john Barthrop (E-mail) (E-mail) '"
<[email protected]>, "'John Leslie (E-mail) (E-mail) '"
<[email protected]>, "'Joseph Alamo (E-mail) (E-mail) '" <[email protected]>,
"''Michael Nelson' (E-mail) '" <[email protected]>, "'Mona Petrochka
(E-mail) '" <[email protected]>, "'Peter Bray (E-mail) (E-mail) '"
<[email protected]>, "'Rebecca Schlanert (E-mail) (E-mail) '"
<[email protected]>, "'Richard Counihan (E-mail) (E-mail) '"
<[email protected]>, "''Robert Morgan' (E-mail) '"
<[email protected]>, "'Sue Mara (E-mail) (E-mail) '" <[email protected]>
cc: "Warner, Jami" <[email protected]>, "Manuel, Erica"
<[email protected]>, "Fairchild, Tracy" <[email protected]>,
"Anderson, Kristin" <[email protected]>
Subject: AReM: Angelides News Conf
AReM Team:
The following is an overview from:
9 a.m., SACRAMENTO _ State Treasurer Phil Angelides
holds media briefing to discuss issuance of energy-related bonds, 915
Capitol
Mall, room 110. Contact: Colleen Beamish, 916-653-4052.
While we have not had time to analyze or digest in detail, here is what
Angelides said:
Angelides: Laid out what needs to be done for the Treasurer's office to
implement AB 1X and what is and isn't appropriate role of the state for
getting the IOUs solvent.
Angelides: "These will be largest (amount of) municipal bonds issued in
nation's history."
Angelides: Estimated bonds would be in $10 billion range. (This echoes what
he said in Jan. 5 news conference)
Angelides: Goal is to arrange short-term external financing by beginning of
March. This would account for about $2 billion. If they don't get that
amount by March 1, 2001, the State will tap into the General Fund. (NOTE:
This appears to be different from the $2 billion he talked about last month
for the renewable energy and conservation load program -- the reserve fund
he would use to reduce the intereset paid to the consumers.)
Angelides: It is "fortunate" that this is happening when State of California
currently has a $5.8 billion surplus.
Angelides: By passing AB 1X, the State has "provided for stability on a
going forward basis" for the utilities.
Angelides: "The next step is for the utilities." -- i.e. - the ball is in
their court because the IOUs aren't now in a position where they necessarily
are going to be insolvent, so they have decisions to make. Do they want to
sell off transmission assets or do they want to pursue the bankruptcy
option?
Angelides: "A buyout, not a bailout makes sense." because it "would give
liquidity to the utilities."
Angelides: Announced he was assembling full financing team which would be in
place by Friday.
Angelides: Also said that before bonds could be issued, interim steps needed
to be taken. Specifically -- that DWR and PUC must reach an agreement on
what rates must be paid on power contracts.
On the phone were: * Michael Kahn; Laura Holson (sp?); Debra Feinstone
(sp?) -- All three listened in and did not participate.
We will be faxing handouts and news releases of this and other news
conferences to the team. If you don't receive them, please contact Kristin
Anderson at 916/442-2331 to request a fax.
PS - The Connell news conference has been postponed.
-----Original Message-----
From: Beiser, Megan
To: '[email protected]'; Aaron Thomas (E-mail) (E-mail); Andrea Weller
(E-mail) (E-mail); andrew Chau (E-mail) (E-mail); Bill Chen (E-mail)
(E-mail); Douglas Oglesby (E-mail) (E-mail); Fairchild, Tracy; Jeffrey
Hanson (E-mail) (E-mail); jennifer Chamberlin (E-mail) (E-mail); john
Barthrop (E-mail) (E-mail); John Leslie (E-mail) (E-mail); Joseph Alamo
(E-mail) (E-mail); 'Michael Nelson' (E-mail); Mona Petrochka (E-mail); Peter
Bray (E-mail) (E-mail); Rebecca Schlanert (E-mail) (E-mail); Richard
Counihan (E-mail) (E-mail); 'Robert Morgan' (E-mail); Sue Mara (E-mail)
(E-mail)
Cc: Allen, Stevan; Warner, Jami; Manuel, Erica; Fairchild, Tracy; Anderson,
Kristin
Sent: 2/8/01 11:40 AM
Subject: Several Press Briefings in Sacramento today
AReM-ers,
It's a busy day today for press briefings as you can see from the
schedule below. We'll be covering these events this morning and will
get news releases, press materials from all as well.
We will provide updates as soon as possible and get them out to you.
*********************
9 a.m., SACRAMENTO _ State Treasurer Phil Angelides
holds
media briefing to discuss issuance of energy-related bonds, 915 Capitol
Mall, room 110. Contact: Colleen Beamish, 916-653-4052.
9:30 a.m., SACRAMENTO _ Assembly Speaker Robert Hertzberg and others
discuss legislation to promote energy conservation and increase power
supplies, Capitol, room 317. Contact: Paul Hefner, 916-319-2408.
11:30 a.m., YUBA CITY _ Gov. Gray Davis discusses his plans to increase
electricity generating capacity in California, Sutter power plant
project,
5087-A South Township Rd. Contact: 916-445-4571.
Noon, SACRAMENTO _ Republican lawmakers hold news conference to discuss
failure of parent companies to keep their utility subsidiaries
sufficiently
solvent to serve the public interest, Capitol, room 1190. Contact: Wade
Teasdale, 916-445-3731. |
------------------------------------------------------------------------------------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
June 8, 2001 5:00pm through June 11, 2001 12:00am
------------------------------------------------------------------------------------------------------
ECS to ECN Network Interconnection, June 9th 2001 POSTPONED
This is a notification that the Enron Corp. I/T Networks team will be connecting the new building network infrastructure located in Enron Center South (ECS) to the existing Enron Center North (ECN) backbone network. While this activity is not expected to produce a disruption to network services, this notice is designed to alert the organization to our activities. No network hardware or systems are anticipated to be shutdown. The actual physical interconnection of the networks will be performed in the EB 34th floor Data Center.
Interconnection activities are scheduled to occur the evening of June 9th 2001 starting from 7:00 p.m.(CT) and completing around 11:00 p.m. (CT). Application testing activities will begin at 11:00 p.m. (CT) once all network testing has completed.
If you have any further questions, please contact Pete Castrejana at 713-410-0642 for more information.
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: ENS
Time: Fri 6/8/2001 at 10:30:00 PM CT thru Fri 6/8/2001 at 11:30:00 PM CT
Fri 6/8/2001 at 8:30:00 PM PT thru Fri 6/8/2001 at 9:30:00 PM PT
Sat 6/9/2001 at 4:30:00 AM London thru Sat 6/9/2001 at 5:30:00 AM London
Outage: Upgrade code on Ardmore routers
Environments Impacted: Ardmore
Purpose: There is a bug with the version of code that we are using that causes the switches to crash.
Backout:
Contact(s): Scott Shishido 713-853-9780
Impact: CORP
Time: Fri 6/8/2001 at 5:30:00 PM CT thru Fri 6/8/2001 at 8:30:00 PM CT
Fri 6/8/2001 at 3:30:00 PM PT thru Fri 6/8/2001 at 6:30:00 PM PT
Fri 6/8/2001 at 11:30:00 PM London thru Sat 6/9/2001 at 2:30:00 AM London
Outage: Split VLAN 468 into a /27 network
Environments Impacted: Corp
Purpose: Separate the load and traffic between AEXT, AEIN, & AX environments
Backout:
Contact(s): Morgan Gothard 713-345-7387
Impact: CORP
Time: Fri 6/8/2001 at 5:30:00 PM CT thru Fri 6/8/2001 at 6:30:00 PM CT
Fri 6/8/2001 at 3:30:00 PM PT thru Fri 6/8/2001 at 4:30:00 PM PT
Fri 6/8/2001 at 11:30:00 PM London thru Sat 6/9/2001 at 12:30:00 AM London
Outage: AEINFW swap
Environments Impacted: Corp
Purpose: Eminent growth and related stability issues.
Backout: Reinstall original units
Contact(s): Morgan Gothard 713-345-7387
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING:
Impact: Exchange
Time: Sat 6/9/2001 at 12:00:00 PM CT thru Sat 6/9/2001 at 2:00:00 PM CT
Sat 6/9/2001 at 10:00:00 AM PT thru Sat 6/9/2001 at 12:00:00 PM PT
Sat 6/9/2001 at 6:00:00 PM London thru Sat 6/9/2001 at 8:00:00 PM London
Outage: Apply latest hotfixes to Nahou-msmbx03v & Nahou-msmbx05v
Environments Impacted: Exchange Users on Nahou-msmbx03v & 05v
Purpose: Ensure backups and data integrity
Backout: Uninstall Hotfixes
Contact(s): Scott Albright 713-345-9381
Tim Hudson 713-853-9289
MARKET DATA:
Impact: CORP
Time: Fri 6/8/2001 at 5:00:00 PM CT thru Fri 6/8/2001 at 7:00:00 PM CT
Fri 6/8/2001 at 3:00:00 PM PT thru Fri 6/8/2001 at 5:00:00 PM PT
Fri 6/8/2001 at 11:00:00 PM London thru Sat 6/9/2001 at 1:00:00 AM London
Outage: Market Data TV systems upgrades
Environments Impacted: Trading Floors
Purpose: Increase system reliability and systems management, also allow presentation of new infrastructure content to the trading floor plasma screens
Backout: re-install original systems
Contact(s): John Sieckman 713-345-7862
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS: ALSO SEE ORIGINAL REPORT
Impact: CORP
Time: Fri 6/8/2001 at 7:30:00 PM CT thru Fri 6/8/2001 at 9:30:00 PM CT
Fri 6/8/2001 at 5:30:00 PM PT thru Fri 6/8/2001 at 7:30:00 PM PT
Sat 6/9/2001 at 1:30:00 AM London thru Sat 6/9/2001 at 3:30:00 AM London
Outage: NAMEX-LN1 and NAMTY-LN1- Needs Rebooting
Environments Impacted: Local Office
Purpose: Need to reload NETIQ Agents for NAMTY-LN1 and NAMEX-LN1
Backout:
Contact(s): Wilma Bleshman 713-853-1562
Impact:
Time: Sat 6/9/2001 at 10:00:00 PM CT thru Sun 6/10/2001 at 1:30:00 AM CT
Sat 6/9/2001 at 8:00:00 PM PT thru Sat 6/9/2001 at 11:30:00 PM PT
Sun 6/10/2001 at 4:00:00 AM London thru Sun 6/10/2001 at 7:30:00 AM London
Outage: Upgrade for E10K SSP tremor requires downtime on server moe.
Environments Impacted: Global
Purpose: An SSP is the controlling server for an E10K platform. Moe is a domain on the E10K platform named aftershock. In order to complete the upgrade of moe, we must first upgrade the SSP. The first phase will entail upgrading the SSP to Solaris 8 and the SSP software.
Backout: The SSP is really a new server that needs to be configured. The old SSP will be there if we need to back out.
Contact(s): Malcolm Wells 713-345-3716
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: SEE ORIGINAL REPORT
TERMINAL SERVER: No Scheduled Outages.
UNIFY: SEE ORIGINAL REPORT
-------------------------------------------------------------------------------------------------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC (713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call (713) 327-6032 [Pager] |
Looks ok overall but here are a couple of suggestions:
Make price/mgw an optional field in the deal entry section of eterra.
2B should be a higher priority. Also, an alternative to 2B is to have a drop-down box within eTerra to display the corresponding name of the counterparty.
[Phillips, George]
-----Original Message-----
From: Capasso, Joe
Sent: Tuesday, November 20, 2001 3:10 AM
To: Forney, John M.
Subject: FW: Eterra
Madup,
In reference to Eterra, I have prioritized some enhancements to the system that will improve its usage and accuracy. When using Eterra, some tasks are difficult to complete and can result in mismatches in the Ercot Portal. I will identify some of the difficult tasks and I will make some suggestions on enhancements.
In addition, I realize that we are working with time constraints and limited personnel.
I will categorize the list based on Priority 1, 2 & 3.
Priority 1 - Very important and needs to be completed immediately
Priority 2 - Important and needs to be completed within the next 30 days
Priority 3 - Moderate importance, easy tasks can be completed at programmers convenience.
Priority 1A:
Allow the Deal Entry screen to accept single entry trades, such as a simultaneous Buy from Counterparty A in the South Zone and a Sell to Counterparty B in the North Zone. Currently, this has to be done by entering two trades, a purchase from Counterparty A (South Zone) to the Hourly Ercot Book and a second trade, a sell from the Hourly Ercot Book to Counterparty B. I realize that we have a problem with the transmission between the North and South Zones and that is what makes this a difficult enhancement.
Priority1B:
Change the process of increasing the Frontera generation. The current process is to input a buy from Frontera and a sell to Frontera. This is not very intuitive and causes some confusion. Why can't we input a buy from Frontera just as we would with any other trade? It could be as simple as clicking a box to indicate that Frontera (i.e. - EPMI) should be adjusted on the resource side and not EPMI on the obligation side.
Priority1C:
Eterra should not write over any trades that were input manually into the Ercot Portal.
Is there any way that we can make it identify a trade that was input manually into the portal?
When it finds one then it should not overwrite this trade.
Priority2A:
Undo Button - On various occasions, we have sent Bal Day trades to the QSE MOS/Ercot Portal and
it was not the result that we had expected. Therefore, the trader has to manually change each of the trades. This can be a very time consuming process.
Is there a way to have an UNDO button (similar to the Excel UNDO key) to retract the trade information from the QSE MOS or Portal?
Priority2B:
Change the short name in <internal counterparty> & <external counterparty> to the actual long name, (i.e. - elpasomeren to El Paso Merchant Energy)
Reason: It is just difficult to read. I brought this up with Sasha and he said it would be a quick fix, but it is still not done.
Proirity3A:
Please give us a list of the Counterparties and their appropriate QSE names, (i.e. - El Paso Merchant is actually APX)
This helps us identify what it will effect in the QSE MOS and Portal (for example, elpasomeren is converted into APX).
But does ELP or ELPASELECOM convert to APX also?
Priority3B:
Match Flow Period to automatically update the Contract Date. This is one less step that we need to worry about.
The above mentioned enhancements will allow us to quickly and accurately update the QSE MOS & Ercot Portal.
In addition, it will allow us to quickly correct the portal if a mistake occurs.
If you need additional clarification on any of these topics, I would be happy to meet with you to discuss this further.
I will be working days on Monday, Nov. 26th - Thursday, Nov 29th.
Thanks,
Joe Capasso
PS - Below is an email that outlines my conversation with Sasha on November 3rd. Unfortunately, none of the "quick fixes" have been completed yet.
-----Original Message-----
From: Capasso, Joe
Sent: Saturday, November 03, 2001 4:55 PM
To: Forney, John M.
Cc: '[email protected],'; McElreath, Alexander; Olinde Jr., Steve; Phillips, George; Oh, Seung-Taek
Subject: Eterra
John,
I met with Sasha today for approx. 3 hours.
We reviewed the exact process for inputting data into Eterra and verifying the trades prior to being sent to the QSE MOS.
Here are some suggestions that I made to Sasha for improving Eterra (the top of the list is the highest priority):
- Allow the Deal Entry screen to accept single entry trades, such as a simultaneous Buy from Calpine (South Zone) and a Sell to FPL (North Zone).
Currently, this has to be done by entering two trades, a purchase from Calpine (South Zone) to the Hourly Ercot book and a second entry of Hourly Ercot book
to FPL (North Zone). Sasha said he is working on this, but problems are occurring due to the transmission between South and North.
- Change the process of increasing the Frontera generation. The current process is to input a buy from Frontera into the Frontera book.
This is not very intuitive and we are still trying to work out an easier process. (Possibly even having a button that we can click to indicate that
it is a purchase from Frontera. Essentially, this would increase the EPMI mw's in the Ercot Portal.)
- Change the short name in <internal counterpary> & <external counterparty> to the actual long name, (i.e. - elpasomeren to El Paso Merchant Energy)
- Give us a list of Counterparties and the appropriate QSE, (i.e. - El Paso Merchant is actually APX)
So that we know what it will affect in the Ercot Portal.
- Match flow date to automatically update the Contract date. One less step that we need to worry about.
I tried to impress upon Sasha that in trading "time is of the essence" and that we don't have much time to input data.
Therefore, we need to streamline the deal entry process and to make it more user friendly.
I realize that the first two items will take some time, but the last 3 items should be quick fixes.
I hope this helps.
Joe Capasso |
Jeanne,
I have some more background on the PX Credit issue that leads me to believe
that we should still comment on PG&E's Advice Letter.
The current PX credit calculation relies on the existence of a PX price
The PX price does not consistently reflect market prices.
Market prices are only reflected if:
buyers and seller are willing to take on credit risk by transacting in the
market
the legalities of "who is liable for what" in case of default are unclear
(according to a VP at EPMI), so the liquidity will not increase until there
is certainty
From our perspective, the market value as posted on the PX is better for PX
credit calculations than a constrained ISO price. (There is no unconstrained
ISO price available.) Although -- it's a risk.
However, if the PX becomes so dysfunctional that prices, if any, do not
reflect real market pricing at all, the CPUC cannot delay dealing with this
issue because there will be no status quo for them to leave in place, there
will be a void.
I suggest that we support the CPUC decision to delay hearing the advice
letter with a big HOWEVER. I think we should highlight the questionable
viability of a PX price and bring forward the requirement that the CPUC must
act if the PX becomes completely dysfunctional (we could ask Neil Bresnan for
help in defining "dysfunctional").
/Tamara.
JMB <[email protected]> on 01/25/2001 10:54:38 AM
To: "Tamara Johnson (E-mail)" <[email protected]>, "Harry Kingerski
(E-mail)" <[email protected]>, "Gordon Savage (E-mail)"
<[email protected]>
cc:
Subject: FW: Letter re: PG&E Advice letter 2073-E
Well, we do not have to worry about protesting PG&E's advice letter changing
the PX credit. The Energy Division nixed it and told PG&E to take up the
issue in the rate stabilization proceedings.
Jeanne
-----Original Message-----
From: Avendano, Nel [mailto:[email protected]]
Sent: Wednesday, January 24, 2001 3:47 PM
To: '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
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'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; Huffman, Mark (Law); Edwards, William (Law);
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
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'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; Migocki, Joe;
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; Peters, Roger (Law);
Lucha, Ed; Frazier-hampton, Janice; Kjellund, Niels; Helgens, Ronald;
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'
Cc: Shaw, Susan
Subject: Letter re: PG&E Advice letter 2073-E
Today the attached letter was received by PG&E from Paul Clanon, Director,
Energy Division, pertaining to Advice 2073-E, filed January 18, 2001. (cc:
Service List - A. 00-11-056)
<<Letter_PGE_AL_2073-E.doc>>
Thank You,
Nel Avendano ([email protected])
Rates (415-973-3529)
- Letter_PGE_AL_2073-E.doc |
Over to you.
-----Original Message-----
From: Arvind Ramanathan <[email protected]>@ENRON [mailto:IMCEANOTES-Arvind+20Ramanathan+20+3CArvind+2ERamanathan+40techspan+2Ecom+3E+40ENRON@ENRON.com]
Sent: Monday, June 04, 2001 8:58 PM
To: Zipper, Andy
Subject: Value Proposition for Enron from TechSpan
Hi Andy
Hope you have had a chance to review our earlier details and hopefully it
would have given you further insights into our capabilities.
During the recent Board meeting with Goldman Sachs, our Enron strategy was
discussed and we indicated our correspondance with you. All of us are very
exited and working on ways of initiating the process. Moreover, due to the
strategic nature of partnership, our Management has also decided to invest
in developing this association.
I would discuss the proposition (from our Senior Management) during a
telecon and you could assess the feasibility.
Meanwhile, some areas that we are currently working with Goldman Sachs,
Nortel, Chevron, HP, etc are indicated below and we could replicate the same
with Enron:
1. Module Development or enhancements to existing applications
- Portal
- Adaptor/Connector Development
- Integrating online trading apps with Back End systems
- Ariba customization/enhancements
- Content Management
- e-Procurement & EBPP
- other application specific integration
2. Maintenance & enhancements (Could be done in India for cost saving
and round the clock operations)
3. Re-engineering, Migration and porting for your existing applications
4. QA
Andy, we are confident that this proposition of ours would be very
attractive and would go a long way in developing a strong association.
Could we discuss our business proposition this week ? I could call your
admin assistant tommorow (6/5) and fix up a suitable time for the call (10 -
15 Minutes Max.) We could follow this up with a technical meeting to
identify specific areas, should you feel comfortable with our proposition.
Looking forward to our discussions.
Thks, Arvind
Tel : 408. 530.5570
Cell : 408. 828.6391
www.techspan.com
-----Original Message-----
From: Arvind Ramanathan
Sent: Thursday, May 24, 2001 12:08 PM
To: '[email protected]'
Subject: RE: Partnership: Enron & TechSpan (Goldman Sachs Funded
Company)
Dear Andy
Thanks for your Mail. I sincerely hope you were able to get a high level
overview of our company. Further to my earlier mail, i am enclosing the
information which could provide further insight into our company. Pls
include them in your assessment process and give me a feedback if you
require any further clarification. We look forward to meeting you and your
team for an presentation and the value we could bring to Enron. In the
presentation, we would cover our Methodology, Processes, Competencies,
Clients , Case Study & our economical/cost effective deployment processes.
Some synergies i perceive; Enron's initiative in ClickPaper could map well
based on our experience in Forest Express , EnronOnline could map into our
experience with RMX/Chevron or American Petroleum Exchange, Dealbench.com
maps well with our experience with eBreviate on the hosted ASP model for
eRFP,Auctions,Supplier Search. Moreoever, our development labs in India
could add great value for your module development, ongoing support,
maintenance, QA, Porting work; deploying a very low cost structure.
1. TechSpan Details: I have enclosed the following -
1.1 Company Overview (Management, Revenues, Growth, Locations,
Services, Competencies, etc)
1.2 TechSpan B2B Markets Expertise Brochure
1.3 Case Study - e2Open , Traiana
1.4 Projects with Ariba & MOAI
2. Other Details which could be of interest
2.1 TechSpan has been featured on IDC's analysis (Report No. 23918)
" IDC believes that TechSpan has done a good job of melding its
evolution as a services business to that of its partnerhips"
2.2. BEA's Partner brochure on its competency (attachment), wherein
TechSpan has been evaluated at par with KPMG & CSC. All our clients have
also realized the value in TechSpan and all have positioned us equivalent
(and higher in many cases)to any Big 5 Consulting firm.
2.3. INDIAN E-BIZ CONSULTING MARKET WORTH $136 M.: V&D
TechSpan tops the Big Six list of e-biz consultants in India with
total business worth $67 million, followed by Planetasia and MindTree. The
study has identified pricing as the one big advantage enjoyed by Indian pure
play Internet Professional Services companies.
http://ciol.com/content/news/repts/101020511.asp?nl=ctd-mar5
2.4 Inc. Magazine and Cisco Systems Name TechSpan, Inc., Finalist
at Growing with Technology Awards Ceremony
http://www.techspan.com/news/prcisco.html
2.5. TechSpan Ranked on Sm@rtReseller's Smart 100 Companies List
http://www.techspan.com/news/prsmartreseller.html
In summary, we are a young company (two years in operations) with high
ambitions and clearly articulated vision of being a leader in the e-commerce
consulting space. We have achieved major milestones in being a $ 67.0
Million company within 2 years, largely due to the confidence exhibited by
our customers and partners. Though the above are some achievements in the
past (giving you a base comfort factor on our long term stability), we are
keen in discussing what value we could bring to Enron, now and in the
future.
Thks,
Arvind
Arvind Ramanathan
Business Development Manager
TechSpan Inc.
Tel : 408. 530.5570
Cell : 408. 828.6391
www.techspan.com |
Did we rebook the orig for the reduced volumes? Please send me the rebooked volumes.
Thanks,
Mike
-----Original Message-----
From: Bike, Anne
Sent: Wed 10/3/2001 6:31 PM
To: Grigsby, Mike
Cc:
Subject: RE: Palo Alto historical loads
I forwarded the invoice to you. It contains all of the calculations. Please let me know when you would like to meet. I can get Ina to set it up if you need me to.
-----Original Message-----
From: Grigsby, Mike
Sent: Wednesday, October 03, 2001 3:03 PM
To: Bike, Anne
Cc: Ward, Kim S (Houston)
Subject: RE: Palo Alto historical loads
Please define close? Also, what is the outstanding issue with Redwood? Please set up another meeting with a copy of the actual flows to Palo, sales prices, third party deals and an example of an invoice. I would like to walk through the deal.
Thanks,
Mike
-----Original Message-----
From: Bike, Anne
Sent: Wednesday, October 03, 2001 7:25 AM
To: Grigsby, Mike
Subject: RE: Palo Alto historical loads
I met with Settlements on Friday, and we were relatively close for the August invoice. The Redwood Gas is an outstanding issue for us and Palo Alto. When we finished on Friday we left a few action items, but my take on the meeting was that we have the deal in the system in a manner that will flow to the back office groups relatively smoothly.
I will keep you posted.
Thanks
Anne
-----Original Message-----
From: Grigsby, Mike
Sent: Tuesday, October 02, 2001 1:54 PM
To: Bike, Anne
Subject: RE: Palo Alto historical loads
How is this issue?
-----Original Message-----
From: Bike, Anne
Sent: Wednesday, September 19, 2001 7:15 PM
To: Grigsby, Mike
Subject: RE: Palo Alto historical loads
I will set up a meeting with settlements to make sure that everything looks good from their end, and to clarify the payments that are made. I also need to meet with volume management to emphasize how the volumes should be allocated when the actuals arrive from the pipeline statements. I think that Daniel has the scheduling issues under control. Jason, Daniel, and I worked to get everything straight for September. October will not be much different. The only exception for October is that we do not have any third party gas coming from Enron, only BP. This actually makes life easier. As soon as I meet with the 2 back offices groups, I will report what I learned. Based on my meetings with settlements during July's process, I am confident that the deal is booked as well as the system can handle. However, checking and double checking the processes will not hurt.
I will schedule something with you and Kim after my other meetings. Hopefully next week.
Imbalances for Rockies and Citizens - I will let you know.
We just finished cleaning up the SOCAL imbalances. We are clear through June as far as P/L is concerned. I think Matt Smith was working on July. We did have some old issues to clean up as the process was passed from Kim O. to Jane, but we have worked through the problems.
Thanks for the note on the group. I am holding a learning lunch tomorrow. I want to make sure that our processes are as tight as possible, especially since bid-week is coming up. We have a good method for checking that all of the failed desk to desk deals are booked correctly, so it should go more smoothly. It will still be slow. Also, Randy Bhatia is working with EOL on resolving their logic issues. We are working towards a solution that will get the deals booked automatically. I will let you know the time line soon.
I have a question. What does the "Wood" report mean ?
See you.
Anne
-----Original Message-----
From: Grigsby, Mike
Sent: Tuesday, September 18, 2001 8:51 PM
To: Bike, Anne
Subject: RE: Palo Alto historical loads
Disregard attachments. How does the system know not to pay Palo for the gas daily deal at malin? You did this because gas daily will not show up as risk and Kim puts together a manual invoice and will not pay them for the third party supply? I want this deal to flow in the event Kim decides to travel the world.
Please set up another meeting to discuss this deal. i will never understand. is it just me?
Also, i still need to clean up imbalance deals from July with citizens and in the rockies.
By the way, you are doing a great job. It seems like your group is getting their books run early.
Also, have you ever talked to your group about secrecy and the fact that we never tell anyone in the market about P&L and/or positions. Just a reminder. You may want to talk to them about confidentiality. You never know who has a roommate from college at El Paso or Dynegy. Right?
-----Original Message-----
From: Bike, Anne
Sent: Tue 9/18/2001 3:56 PM
To: Grigsby, Mike
Cc:
Subject: RE: Palo Alto historical loads
Mike: Am I supposed to do something with the attachments ? They did not transfer through on the e-mail you forwarded. Kim has never given me any additional information regarding the loads. All we did on this deal recently was book the newest fixed price deal at Malin, and book the BP volumes (3rd party deals) that have been projected at Malin.
On the BP gas: ..... We book a deal in which ENA purchases gas from Palo Alto at Gas Daily flat. Daniel Schedules the gas on the transport directly from BP. We enter the purchase in our system to show that you have 1,500 mmbtu/day at Malin that must be put on the transport to City Gate.
We have not rebooked the origination. I am still using the estimated burns that were given to me at the inception of the deal.
Let me know if this clears everything up.
Thanks
Anne
-----Original Message-----
From: Grigsby, Mike
Sent: Tuesday, September 18, 2001 2:52 PM
To: Ward, Kim S (Houston); Bike, Anne
Subject: RE: Palo Alto historical loads
Will show me how this deal and the orig was rebooked? Also, please show me how the third party deals were booked.
Mike
-----Original Message-----
From: Ward, Kim S (Houston)
Sent: Tuesday, August 28, 2001 6:44 PM
To: Grigsby, Mike
Subject: Palo Alto historical loads
<< File: loaddata_June&July_2001.xls >>
<< File: actualloadapril&may.xls >>
<< File: daily usage values2.xls >> |
Utilities' Demand Blocks Bailout
NEGOTIATIONS HIT SNAG: PG&E, Edison want end to price freeze if they sell
transmission lines to state David Lazarus, Chronicle Staff Writer
Wednesday, March 21, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/03/21/M
N114450.DTL
California's near-bankrupt utilities are demanding that higher electric rates
be a part of any deal to sell the state their power lines, The Chronicle has
learned.
A rate increase -- perhaps of more than 50 percent, according to earlier
industry estimates -- would certainly draw a firestorm of protest from
consumer groups and force Gov. Gray Davis to backtrack from earlier pledges
that rates would remain unchanged.
Nevertheless, sources close to negotiations on the deal said Pacific Gas and
Electric Co. and Southern California Edison are attempting to make higher
rates a condition for agreeing to a bailout scheme in which they would sell
the state their transmission systems and some land.
The sources said the talks hit a new snag this week when state officials
realized that fine print sought by the companies could require the Public
Utilities Commission to pass along all of the utilities' costs to ratepayers.
The sources said this would end a rate freeze that shields consumers from
runaway wholesale electricity prices.
The inclusion of potential rate increases in the talks reflects the growing
complexity of a deal originally intended by Davis to stabilize the finances
of PG&E and Edison so banks would resume loans to the cash-strapped
utilities.
The negotiations subsequently have expanded to involve a state purchase of
the utilities' transmission networks and acquisition of utility-owned land,
including spectacular coastal property near PG&E's Diablo Canyon nuclear
power plant.
Now they also have embraced further deregulation of California's
dysfunctional electricity market.
"Clearly, one of the terms being discussed is the regulatory environment,"
said Joseph Fichera, head of Saber Partners, a New York investment bank that
is advising Davis in the talks.
"The past situation has not worked well," he added. "The utilities want some
certainty about their future."
TENTATIVE DEAL WITH EDISON
To date, the governor has announced a tentative agreement with Edison for the
state to buy the utility's power lines for almost $3 billion. Discussions
with PG&E for a similar accord have dragged on for weeks.
An Edison official, asking that his name be withheld, acknowledged yesterday
that an end to the rate freeze is an expected result of the power- line sale.
"Once the details of the pact are complete, dominoes will fall," the official
said. "One of the dominoes is the rate freeze."
A PG&E spokesman declined to comment.
In fact, both Edison and PG&E have been aggressively seeking an end to the
rate freeze for months.
The two utilities have a lawsuit pending in federal court demanding that the
PUC immediately raise rates so the utilities can recover almost $13 billion
in debt accrued as a result of the freeze.
"They have been trying a lot of things to get the rate freeze ended in
various forms," said Carl Wood, who sits on the PUC. "Adding it to the
present talks is consistent with past behavior."
Wall Street has taken note that the negotiations no longer appear to be
making progress.
Paul Patterson, an energy industry analyst at Credit Suisse First Boston,
told clients on Monday that the discussions "may have lost some momentum in
recent days." He did not give a reason.
For his part, the governor sounded unusually cautious about the course of the
talks when asked late last week if a breakthrough was imminent.
SECRET STICKING POINTS
"We are going to take the transmission systems and the land that's deeded,
and we will work out an agreement," Davis said at an appearance in San Jose.
"But there are a number of sticking points in the talks with PG&E that I'm
not going to reveal."
One of those sticking points apparently is an insistence that the sale of
utility assets include a long-sought lifting of the rate freeze.
Sources said lawyers from both PG&E and Edison had inserted the related terms
into draft accords affecting each utility, and that the full impact of the
additions was not realized by state officials until this week.
One source said the language was just convoluted enough to slip beneath the
radar screen of state negotiators. But the upshot, once the words had been
parsed, was that the PUC effectively would lose control over power rates.
CREDITWORTHINESS ON THE TABLE
In Edison's case, the terms of the tentative deal include the governor asking
the PUC "to support the creditworthiness" of the utility.
"This would ensure that future investments in both utility distribution and
utility generation plants are provided fair returns of and on capital,
consistent with current authorized returns and capital structure provisions,"
it says.
Sources said the provision could be interpreted as a guarantee from the state
that Edison would be permitted to recoup all outstanding costs from
ratepayers.
"There may be some assumptions about this language that the rate freeze ends
if it is adopted," the Edison official said, adding that he saw no reason to
disagree with such assumptions.
But Fichera, Davis' adviser in the talks, insisted that nothing is set in
stone, and that the negotiations are proceeding without a hitch.
"This is a very complex transaction," he said. "God and the devil are in the
details."
E-mail David Lazarus at [email protected].
,2001 San Francisco Chronicle ? Page?A - 1 |
Excellent response. Agree with this approach. Thanks for the update.
Please let me know what happens. SWD
WALT
ZIMMERMAN
03/16/2000 07:00 PM
To: Steve Duffy/Houston/Eott@Eott
cc: Dana Gibbs/Houston/Eott@Eott, Lori Maddox/Houston/Eott@Eott, Susan
Ralph/Houston/Eott@Eott, Michael Burke/Houston/Eott@Eott, Stanley
Horton/Corp/Enron@Enron, [email protected]
Subject: Todoroff Prosecution--CONFIDENTIAL/SUBJECT TO ATTORNEY-CLIENT
PRIVILEGE
Steve, as Dana indicated in his response to your message, Louis Dreyfus is
maintaining that their transactions with Todoroff are totally legitimate and
binding upon EOTT. Vinson & Elkins is of the opinion that before we assert
an argument to Louis Dreyfus regarding the validity of their contract, we
need to hear the tapes of Todoroff's conversations with Louis Dreyfus. The
"paper" that we have (including the notes from the Louis Dreyfus contract
administrator) certainly indicates that Louis Dreyfus suspected or knew that
something was not quite right about the December 1999 transaction with
Todoroff, but it is not enough to make a very good case for challenging the
validity/enforceability of that contract. We need more. John DeGeeter of
Vinson & Elkins has spoken with Louis Dreyfus' general counsel. Louis
Dreyfus' general counsel has told John that before he will consider providing
EOTT with the tapes, he wants EOTT to set forth in writing the reason EOTT is
requesting the tapes. Louis Dreyfus' general counsel has also indicated that
he is not sure that Louis Dreyfus taped these conversations.
Although a final decision has not been made, here's where I think we are
headed with Louis Dreyfus. We will send their general counsel a letter next
week indicating the irregularities with this contract (e.g. the prices quoted
in the contract were far below market, and the contract administrator had
questions about Todoroff's authorization and the "legality" of the deal).
This proposed letter would then suggest that Louis Dreyfus provide us with
their tape recordings of the conversations with Todoroff in order that we can
immediately resolve our questions as to whether one of Louis Dreyfus'
employees knowingly assisted Todoroff in his scheme to defraud EOTT. My
guess is that a letter of that nature will at least cause Louis Dreyfus'
lawyers to listen to the tapes. If the tapes do contain incriminating
conversations, we might see a softening of their negotiating position. If
the tapes do not contain anything incriminating, it would seem to be in Louis
Dreyfus' best interest to provide us with the tapes to support their position
that there was nothing irregular about the transaction.
Steve Duffy
03/16/2000 01:47 PM
To: Walt Zimmerman/Houston/Eott@Eott
cc: Dana Gibbs/Houston/Eott@Eott, Lori Maddox/Houston/Eott@Eott, Susan
Ralph/Houston/Eott@Eott, Michael Burke/Houston/Eott@Eott, Stanley
Horton/Corp/Enron@Enron
Subject: Re: Todoroff Prosecution--CONFIDENTIAL/SUBJECT TO ATTORNEY-CLIENT
PRIVILEGE
Thanks for the update, Walt. One option we were considering was a "share the
pain" settlement with Dreyfus, whereby they would let us buy out of the
remaining position at a steep discount (to acknowledge their contributory
negligence in this matter). Has there been any additional headway in this
area? I'm on vacation and haven't heard anything on this. Weren't we going
to send a V&E litigator to visit Dreyfus' general counsel? If we commence
legal proceedings against Dreyfus, things will become costly and contentious
between us. Information will come slowly and grudgingly. We have copies of
some of their internal notes which indicate that they knew---or should have
known---that something wasn't quite right with Todoroff's situation. Before
we start filing discovery motions, we should exhaust the possibility of
meeting with their general counsel to see if a quick "business" settlement
can be obtained. Please advise. Thanks. SWD
WALT
ZIMMERMAN
03/16/2000 11:47 AM
To: Dana Gibbs/Houston/Eott@Eott, Lori Maddox/Houston/Eott@Eott, Susan
Ralph/Houston/Eott@Eott
cc: Michael Burke/Houston/Eott@Eott, Steve Duffy/Houston/Eott@Eott, Stanley
Horton/Corp/Enron@Enron
Subject: Todoroff Prosecution--CONFIDENTIAL/SUBJECT TO ATTORNEY-CLIENT
PRIVILEGE
Earlier this week, I spoke with Bill Moore (the chief prosecutor in the
Harris County District Attorney's Special Crimes Unit) regarding the
above-referenced matter. Mr. Moore acknowledged receiving the investigative
materials that we submitted last week, and he indicated that his office is
commencing its review of those materials. I emphasized to Mr. Moore the
desire of EOTT's management to have this case aggressively prosecuted. Mr.
Moore acknowledged that the aggressive prosecution of this matter would send
a strong message to other traders who might consider dishonest acts, and he
assured me that his office would vigorously pursue this matter. Based upon
some statements made by Mr. Moore during our discussion, it was obvious that
he recalled much of the presentation from our initial meeting. I will call
Mr. Moore again tomorrow afternoon to get an update on the progress of this
matter.
We are also attempting to obtain from Louis Dreyfus tape recordings of
Todoroff's conversations with them regarding the series of deals that we are
describing as "The Second Transaction." If Louis Dreyfus does not
voluntarily provide us with copies of those tapes (or if they assert that
tapes do not exist), the next step will be to consider filing a lawsuit or
seeking a bill of discovery in order to obtain the tapes. Based upon some
notes we have received from a contract administrator at Louis Dreyfus, it
appears that Louis Dreyfus also suspected or knew that something was amiss
with The Second Transaction. Assuming that Todoroff's conversations with
Louis Dreyfus were taped, the tapes should tell us whether Todoroff had a
conspirator at Louis Dreyfus who assisted him in his scheme to defraud EOTT.
If Louis Dreyfus does not voluntarily produce tape recordings of its
conversations with Todoroff, we will need some guidance from Enron as to how
aggressive we should be in attempting to obtain the tapes. |
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4. Georgetown Law Center (cum laude) and Stanford undergraduate has over four years experience advising both private and public companies on general business/corporate matters as well as venture and debt financings, licensing, mergers and acquisitons, and public offerings. Terrific experience in securities and corporate counseling. Available either in California or East Coast.
5. A talented attorney with over eight years experience doing project finance and lending, mergers and acquisitions, and capital markets transactions at two very prominent law firms. This Russian speaking attorney has represented investors, lenders, and multilateral agencies in power, energy and natural resources industry sectors, as well as financial services, IT and telecom clients in a wide variety of m & a matters.
6. This 1996 graduate of a highly regarded law school has over five years of solid general corporate experience. Great drafting skills and superb presence, this candidate will be a very welcome addition to any in house legal staff that seeks an intelligent, hard working and very well trained corporate generalist.
7. Attorney who graduated first in his law class is practicing corporate restructuring and reorganization at one of New York's premier law firms. Four years experience in all aspects of distressed debt transactions, including asset sales, plans of reorganization, asset-based financings, cross-border insolvency issues and strategic distressed acquisitions. Seeking in-house or investment banking position.
8. Yale Law School, Princeton University (magna cum laude). Senior VP of one of top financial institutions in the world, this attorney has played a leading legal, business, integration and managerial role in acquisitons, joint ventures, equity investments and divestitures. Also has broad epxerience in securities law at a top law firm. Very well spoke and personable, this candidate is interested in a senior business/GC type position. NY metro area.
9. Yale University (magna cum laude), Harvard Law School (cum laude) candidate with three years transactional experience at premier law firm before leaving to become general counsel at a new media company. Has broad corporate, real estate and and technology experience. Exceedlingly smart, conscientious, and energetic. This candidate will be an enormous asset to any company that hires him. Wants NY area only.
10. UChicago Law School, over five years extraordinary experience at both a top law firm and a premier incubator. Practice areas include corporate, securities, intellectual property, mergers & acquisitions, venture capital financings and technology. Dynamic, very highly regarded attorney also speaks mandarin chinese. Wants in-house or legal/business position in Southern California only.
This is just a very small sample of the attorney/candidates that we work with. We can of course tailor our search to meet any specifications that you wish. Feel free to call us to discuss our service, or to refer us to a colleague that might be interested in hearing more about us, or to obtain references from our clients. I hope I will be speaking with you soon.
Thank you for taking the time to consider our service.
--
Steven J. Greenberg, Esq.
Managing Partner
Glocap Legal Search LLC
Carnegie Hall Tower
152 West 57th Street, 27th Floor
New York, New York 10019-3310
212-333-6431 phone
212-333-6401 fax
[email protected]
www.glocaplaw.com
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Message sent by:
Steven J. Greenberg
Glocap Legal Search LLC
Tel: (212) 333-6431
Fax: (212) 333-6401
Email: [email protected]
http://www.glocap.com
*** Glocap provides financial, legal and technical recruiting to private equity firms, their portfolio companies, and Fortune 1000 companies. http://www.glocap.com ***
*** Forbes selected Glocap as its "Favorite Headhunter" in its Best of the Web issue published in Spring 2001. Click on http://www.forbes.com/bow/b2c/review.jhtml?id=2812 for more details. Glocap is also the exclusive career partner of Venture Economics (publisher of Private Equity Week, VC Journal, Buyouts, The IPO Reporter, etc.) and the Daily Deal. *** |
fyi...addl Sunday training available on individual basis if you're
interested.
---------------------- Forwarded by Jack L. Farley/PG/HouInd on 09/17/2001
06:40 PM ---------------------------
"Barry Loder" <[email protected]> on 09/17/2001 01:43:44 PM
To: "Barry Loder" <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>
cc: <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>
Subject: West U Soccer's New Skill Development Program
Dear Coaches,
In an effort to continue the development of the West U Soccer program to
become one of the finest in the city, we have introduced some innovative
ways to provide the players with greater development while having fun.
This year we have already introduced once a week training for all players
who participate in the West U Soccer in house programs. From the reaction
I have received to date this has been very successful. We plan to
continue to make improvement in this program to make it the finest in the
city.
In pursuit of this goal, West U Soccer is sponsoring in conjunction with
Nebo Pro Soccer Academy a skill development program for our players from
U-6 through U-19.
The goals of this program:
? To provide players in their development years the ability to
develop the skills necessary to enjoy the game.
? Have fun while learning
? Play fun games and play against other competition.
? Coach mentoring by association with pro trainers
Last week was a trial run of the clinic and I have a child who is a U-6
player. He had a great time and learned a lot about soccer and wants to
go next week because he had so much fun.
Nebo has done a great job of developing a curriculum for all types of
player from the serious to the recreational. He has assembled a staff of
trainers who are well recognized.
If you have players who may be interested in the training, I strongly
recommend that you hand out the attached sign-up sheet at your next
practice.
Please tell the player who are interested to bring the form on Sunday
September 23 at 5:00 to West U Elementary Field for sign-up.
Thank you for your consideration on this matter .
(See attached file: Nebo OPEN SKILLS DEVELOPMENT PROGRAM.pdf) |
"Oil" means crude off, condensate and other liquid hydrocarbons meeting the
quality standards and specifications set forth in Article VI hereof. also,
do we even need this definition?
*****************************************
"Payment Date" means, for or with respect to any Month, the last LIBOR
Business Day of the next following Month. For example, February 28, 2001 is
the Payment Date for the Month of January 2001. i think this reads better if
we say:
"Payment Date" means, for or with respect to any Month, the last LIBOR
Business Day of the Month following the production Month. For example,
February 28, 2001 is the Payment Date for the production Month of January
2001.
*****************************************
Section 3.3. Enforcement of Production Payment Documents. Seller shall take
all actions as may be appropriate to abide by the provisions of the
Production Payment Documents and enforce the provisions of the Production
Payment Documents against the Producer. Seller shall not amend any
Production Payment Document in any material respect without the consent of
Buyer.
once again, i think this should state, that consent is only needed when
amending something that will change any of the items tied to the Confirm -
term, price, volume... we should be able to change capex, or even the oil
vols... w/o consent.
*****************************************
Section 4.2. Scheduling. Not less than fifteen (15) Days prior to the first
Day of each Month during the Term of a Transaction, Seller will notify Buyer
of the daily quantities of Gas that Seller expects to be available for
delivery to Buyer hereunder at each Delivery Point during such Month. No
later than twenty-four (24) hours prior to Buyer's Transporter's nomination
deadline for such Month, Buyer agrees to schedule for delivery at each
Delivery Point commencing on the first Day of such Month the quantities of
Gas which Seller expects to deliver in kind to Buyer at each Delivery Point
during such Month pursuant to this Agreement. Although Buyer recognizes that
the quantity at each Delivery Point may fluctuate in accordance with the
provisions of the Production Payment Documents, Seller agrees to provide
Buyer immediately upon receipt by Seller a copy of any notice or agreement to
change any rate of production or Delivery Point under the terms of the
applicable Production Payment Documents. make this 3 Business Days
*****************************************
Section 7.1. Price. Buyer shall pay Seller for all Gas delivered hereunder
each Month in compliance with Sections 4.1, 6.1 and 6.4 by making the
calculations described below for each Transaction (after disregarding any
Measurement and Allocation Inaccuracies), adding together for all
Transactions all amounts deemed owed by Buyer to Seller and by Seller to
Buyer during such Month, and paying to Seller the resulting net amount deemed
owed by Buyer to Seller on the Payment Date for such Month as provided in
Section 8.1 (provided that if such resulting net amount is owed by Seller to
Buyer then Seller shall pay the same to Buyer):
i need to think about this, but i think in reality, ENA will pay to Brazos
each confirm/deal separately. but i think this is such a small, moot point
that i won't pursue.
*****************************************
Section 7.1. Price. under b: refers to Index Price - the confirm/transaction
agrmt calls this the Spot Price. this needs to jive.
*****************************************
section 14.1, make me the Notices person. fax #646.3640 &
[email protected]
i'm not sure who you want to put for ENA - bob bowen's group? if so, fax #
is 646.4816.
*****************************************
we need a transaction agreement for crescendo.
*****************************************
re the transaction agreement for st mary's [which is attached]. we need to
specify somewhere in that agrmt that that is the st. mary's deal... per the
confirm definition [see below]. so that one can figure out which confirm
goes with which deal.
"Confirmation" means, with respect to a Transaction, a confirmation letter or
statement between Buyer and Seller, setting forth for such Transaction the
applicable Effective Date, Contract Price, Index Price, Delivery Points, and
Scheduled Amounts and a reference to the related Conveyance
*****************************************
also re the transaction agreement for st mary's, do we want the MaxDQ to
state that? what happens if 100% of the gas is down on day 5, and they want
to make it all up on day 6. i don't think we s/b limited to 25%. ALSO, the
agrmt refers to the enfolio agmt, which needs to be changed.
*****************************************
---------------------- Forwarded by Joan Quick/HOU/ECT on 12/24/2000 05:00 PM
---------------------------
Teresa G Bushman
12/21/2000 04:22 PM
To: Jesus Melendrez/Corp/Enron@Enron, Joan Quick/HOU/ECT@ECT, Brian
Otis/NA/Enron@Enron, Eric Wardle/HOU/ECT@ECT
cc:
Subject: Master Natural Gas Purchase and Sale Agreement
Teresa G. Bushman
Enron North America Corp.
1400 Smith Street, EB 3835A
Houston, TX 77002
(713) 853-7895
fax (713) 646-3393
[email protected]
----- Forwarded by Teresa G Bushman/HOU/ECT on 12/21/2000 04:26 PM -----
[email protected]
12/21/2000 03:04 PM
To: [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected]
cc:
Subject: Master Natural Gas Purchase and Sale Agreement
Attached are clean and marked versions of our proposed natural gas purchase
and sale agreement. This has not been fully reviewed by Enron and remains
subject to change in all respects. The marked attachment shows changes
from the crude oil agreement sent earlier today.
(See attached file: Gas Ver 2 marked from Oil Ver 6.doc)
(See attached file: Gas Ver 2 marked from Oil Ver 6.wpd)
(See attached file: Natural Gas Purchase and Sale Agreement Ver 2
clean.doc) (See attached file: Natural Gas Purchase and Sale Agreement
Ver 2 clean.wpd)
John W. Rain
Thompson & Knight L.L.P.
1700 Pacific Ave.
Dallas, Texas 75201
Phone: 214.969.1644 (Dallas)
Phone: 713.653.8887 (Houston)
Fax: 214.880.3150
This email and any attachments to it may contain legally privileged
information or confidential information, which are not intended to be
disclosed. If you are not the intended recipient of this email, please do
not read or print any attachments or forward or copy this email or any
attachments. Instead, please permanently delete this email and any
attachments and notify the sender of his mistake. Thank you very much.
- Gas Ver 2 marked from Oil Ver 6.doc
- Gas Ver 2 marked from Oil Ver 6.wpd
- Natural Gas Purchase and Sale Agreement Ver 2 clean.doc
- Natural Gas Purchase and Sale Agreement Ver 2 clean.wpd |
------------------------------------------------------------------------------------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
June 8, 2001 5:00pm through June 11, 2001 12:00am
------------------------------------------------------------------------------------------------------
ECS to ECN Network Interconnection, June 9th 2001 POSTPONED
This is a notification that the Enron Corp. I/T Networks team will be connecting the new building network infrastructure located in Enron Center South (ECS) to the existing Enron Center North (ECN) backbone network. While this activity is not expected to produce a disruption to network services, this notice is designed to alert the organization to our activities. No network hardware or systems are anticipated to be shutdown. The actual physical interconnection of the networks will be performed in the EB 34th floor Data Center.
Interconnection activities are scheduled to occur the evening of June 9th 2001 starting from 7:00 p.m.(CT) and completing around 11:00 p.m. (CT). Application testing activities will begin at 11:00 p.m. (CT) once all network testing has completed.
If you have any further questions, please contact Pete Castrejana at 713-410-0642 for more information.
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: ENS
Time: Fri 6/8/2001 at 10:30:00 PM CT thru Fri 6/8/2001 at 11:30:00 PM CT
Fri 6/8/2001 at 8:30:00 PM PT thru Fri 6/8/2001 at 9:30:00 PM PT
Sat 6/9/2001 at 4:30:00 AM London thru Sat 6/9/2001 at 5:30:00 AM London
Outage: Upgrade code on Ardmore routers
Environments Impacted: Ardmore
Purpose: There is a bug with the version of code that we are using that causes the switches to crash.
Backout:
Contact(s): Scott Shishido 713-853-9780
Impact: CORP
Time: Fri 6/8/2001 at 5:30:00 PM CT thru Fri 6/8/2001 at 8:30:00 PM CT
Fri 6/8/2001 at 3:30:00 PM PT thru Fri 6/8/2001 at 6:30:00 PM PT
Fri 6/8/2001 at 11:30:00 PM London thru Sat 6/9/2001 at 2:30:00 AM London
Outage: Split VLAN 468 into a /27 network
Environments Impacted: Corp
Purpose: Separate the load and traffic between AEXT, AEIN, & AX environments
Backout:
Contact(s): Morgan Gothard 713-345-7387
Impact: CORP
Time: Fri 6/8/2001 at 5:30:00 PM CT thru Fri 6/8/2001 at 6:30:00 PM CT
Fri 6/8/2001 at 3:30:00 PM PT thru Fri 6/8/2001 at 4:30:00 PM PT
Fri 6/8/2001 at 11:30:00 PM London thru Sat 6/9/2001 at 12:30:00 AM London
Outage: AEINFW swap
Environments Impacted: Corp
Purpose: Eminent growth and related stability issues.
Backout: Reinstall original units
Contact(s): Morgan Gothard 713-345-7387
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING:
Impact: Exchange
Time: Sat 6/9/2001 at 12:00:00 PM CT thru Sat 6/9/2001 at 2:00:00 PM CT
Sat 6/9/2001 at 10:00:00 AM PT thru Sat 6/9/2001 at 12:00:00 PM PT
Sat 6/9/2001 at 6:00:00 PM London thru Sat 6/9/2001 at 8:00:00 PM London
Outage: Apply latest hotfixes to Nahou-msmbx03v & Nahou-msmbx05v
Environments Impacted: Exchange Users on Nahou-msmbx03v & 05v
Purpose: Ensure backups and data integrity
Backout: Uninstall Hotfixes
Contact(s): Scott Albright 713-345-9381
Tim Hudson 713-853-9289
MARKET DATA:
Impact: CORP
Time: Fri 6/8/2001 at 5:00:00 PM CT thru Fri 6/8/2001 at 7:00:00 PM CT
Fri 6/8/2001 at 3:00:00 PM PT thru Fri 6/8/2001 at 5:00:00 PM PT
Fri 6/8/2001 at 11:00:00 PM London thru Sat 6/9/2001 at 1:00:00 AM London
Outage: Market Data TV systems upgrades
Environments Impacted: Trading Floors
Purpose: Increase system reliability and systems management, also allow presentation of new infrastructure content to the trading floor plasma screens
Backout: re-install original systems
Contact(s): John Sieckman 713-345-7862
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS: ALSO SEE ORIGINAL REPORT
Impact: CORP
Time: Fri 6/8/2001 at 7:30:00 PM CT thru Fri 6/8/2001 at 9:30:00 PM CT
Fri 6/8/2001 at 5:30:00 PM PT thru Fri 6/8/2001 at 7:30:00 PM PT
Sat 6/9/2001 at 1:30:00 AM London thru Sat 6/9/2001 at 3:30:00 AM London
Outage: NAMEX-LN1 and NAMTY-LN1- Needs Rebooting
Environments Impacted: Local Office
Purpose: Need to reload NETIQ Agents for NAMTY-LN1 and NAMEX-LN1
Backout:
Contact(s): Wilma Bleshman 713-853-1562
Impact:
Time: Sat 6/9/2001 at 10:00:00 PM CT thru Sun 6/10/2001 at 1:30:00 AM CT
Sat 6/9/2001 at 8:00:00 PM PT thru Sat 6/9/2001 at 11:30:00 PM PT
Sun 6/10/2001 at 4:00:00 AM London thru Sun 6/10/2001 at 7:30:00 AM London
Outage: Upgrade for E10K SSP tremor requires downtime on server moe.
Environments Impacted: Global
Purpose: An SSP is the controlling server for an E10K platform. Moe is a domain on the E10K platform named aftershock. In order to complete the upgrade of moe, we must first upgrade the SSP. The first phase will entail upgrading the SSP to Solaris 8 and the SSP software.
Backout: The SSP is really a new server that needs to be configured. The old SSP will be there if we need to back out.
Contact(s): Malcolm Wells 713-345-3716
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: SEE ORIGINAL REPORT
TERMINAL SERVER: No Scheduled Outages.
UNIFY: SEE ORIGINAL REPORT
-------------------------------------------------------------------------------------------------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC (713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call (713) 327-6032 [Pager] |
Outstanding outcome- Ray, this was an incredible result given the challenging
context, to say the least....You should feel quite proud of this achievment-
Thanks!
Linda Robertson
05/14/2001 01:06 PM
To: Ray Alvarez/NA/Enron@ENRON
cc: Harry Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, Richard
Shapiro/NA/Enron@ENRON, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J Kean/NA/Enron@ENRON
Subject: Re: Tariffs Approved
Excellent, and congratulations.
Ray Alvarez
05/14/2001 12:34 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, James D Steffes/NA/Enron@Enron
cc: Harry Kingerski/NA/Enron@Enron, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Tariffs Approved
The rate case that the governmental affairs group filed in January, on behalf
of Transredes, has come to a very successful conclusion and the new rates
will go into effect towards the end of this month. The rates are not much
lower than what we filed for, and represent a very significant increase over
the previous rates. The tariff methodology and revised regulations, put into
effect by the Supreme Decree, were followed to the letter by the regulator
despite political pressure to arbitrarily keep rates down. The deliverables
here were to (1) obtain a tariff methodology via Supreme Decree that would
make the company finance-able / rescue it from dire financial straits and (2)
file a rate case and prosecute it to obtain hard rates in accordance with the
tariff methodology. This second deliverable has now been completed.
Transredes has had a bond issue pending since last year due to the
uncertainty about rates; it is my understanding that the financial market
loved the ruling and that Transredes sold $40 million worth of bonds in about
5 minutes! This ruling should also significantly increase Transredes's
market value, relative to Enron's efforts to sell its interest in the company.
---------------------- Forwarded by Ray Alvarez/NA/Enron on 05/14/2001 11:38
AM ---------------------------
Doug Farmer
05/11/2001 06:09 PM
To: Peter E Weidler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
[email protected], [email protected]
cc: Jan van den Berg/TRANSREDES@TRANSREDES, John
Naphan/TRANSREDES@TRANSREDES, Cyro Camacho/TRANSREDES@TRANSREDES, Pedro
Elio/TRANSREDES@TRANSREDES, Fernando Gonzalez/TRANSREDES@TRANSREDES
Subject: Tariffs Approved
Gentlemen,
I am delighted to report that SIRESE approved substantial increases in TR's
tariffs consistent with the Law and Regulation. The details are :-
Existing Tariff SIRESE Approved % Increase TR/CLHB Proposed TR/CLHB %
Increase
Gas Export (including surcharges) $0.18 $0.2205 22.5% $0.26 (excluding
RG) 44.4%
Liquids Domestic $1.05 $2.46 134.3% $3.25 209.5%
Liquids Export $1.55 $2.31 49% $3.35 116.1%
CLHB's tariffs were also approved as follows $1.19 $2.20 84.9% $3.528
196.5%
As you can see we did substantially better than CLHB (comparable with our
liquids domestic) !!
We will get a detailed report on the assumptions used by SIRESE to reach
their conclusions on Monday, but our inteligence suggests the following :-
1. Export gas volumes increased to 100% TR capacity, and 100% GSA + Cuiaba 2
assumed for SDA and TEMIN purposes
2. RG Compresion project deleted
3. Interest rate reduced to 10 or 10.5 % i.e. the rate in our bond issue
4. Liquids expansion in the South reduced
5. Some continuity of service CAPEX reduced
6. Unknown OPEX reduction and maybe a change to the OPEX allocation between
concesions
7. OCC in service date slipped from 2003 to 2004.
8. Debt/Equity assumption changed from 60/40 to 70/30
Our strategy to respond to each of these points is as follows :-
1. Volumes. Covered by 8% rule, we can blete but can expect little back
here. Clearly we will appeal if volumes exceed installed capacity in the
short term i.e. 2002/2003.
2. RG Compression - not worth fighting for since we don't even have the
support of BG
3. Interest Rate - We'll get this back when we do a tariff revision and
actual rates are used. When we get the detail we will appeal if Jan feels we
have concrete grounds i.e. commision costs etc. are omited.
4. Liquids Expansion in the South. Here we intend to do a detailed analysis
of exactly what has been deleted and as a result what liquids/gas production
will be shut in. If possible all assumptions to be agreed with the affected
producers (PB, BG, Vintage and Chaco). We will then write to those
producers(copy SIRESE , VMEH etc.) stating that on their recommendation the
project scope was reduced by SIRESE. We will give them an estimate of the
lost liquids/gas production (in both volume and cash terms) resultant from
this decision. We will tell them that since they proposed these reductions
we have no intention of appealing them but invite them to appeal.
5. Continuity of Service Capex. We need to see the detail here. We will
take the moral high ground and be absolutely clear that we are not prepared
to compromise our safety and environmental standards. We need to see exactly
what has been removed, but my thought is that if that means we are unable to
provide some services (e.g. LPG transportation) or the continued operation of
some liquids laterals, we should write to those producers affected suggesting
that if they wish these services to be continued they need to appeal the
decision. Again since this is Capex we will get it back in the end on tariff
revisions as long as the expenditure is approved on an annual basis in the
SIRESE budget process.
6. OPEX - need to see the detail on Monday.
7. OCC - will not appeal - we need to do a detailed study to develop an OCC
strategy.
8. Debt/Equity ratio. Strictly speaking what has been done is in accordance
with the Law/Regulation - the regulation says the maximum allowed equity is
40%. However, we have very strong grounds to appeal since : a) we are
currently miles away from 60/40 let alone 70/30, b) we can only borrow for
CAPEX (as per bond issue and the policy of all/most banks/lending
institutions) with the case presented in the rate case if we borrow to cover
100% of CAPEX we can easily demonstrate that we are still miles away from
60/40. We intend to fight this one very hard using all the
external/independant help we can get.
As you are all aware our big exposure with the rate case was that the much
needed substantial increase in liquids tariffs would not be approved and we
would be subjected to some form of arbitary cut. This has not happened
SIRESE has now approved and hence owns these substantial increases. Having
got the big hike our job is now to claw back as much as we can from the above
strategy in the full knowledge that the results of these efforts will be much
smaller and hence managable increases.
Attached is an analysis of the individual impacts on the tariff of the above
points and the corporate model using the new tariff with our volume
assumptions (i.e. the worst case).
Regards,
Doug |
----- Original Message -----
From: "Frank Marsters" <[email protected]>
To: "Whitus, Sherri" <[email protected]>; "White, Robert"
<[email protected]>; "Tompkins, Jeff" <[email protected]>; "Shultz, Brad"
<[email protected]>; "Mathews, Russ" <[email protected]>; "Marsters, Linda"
<[email protected]>; "Lewis, Deacon" <[email protected]>; "Lane,
Rocky" <[email protected]>; "King, Cathy" <[email protected]>; "Harris, Mary S."
<[email protected]>; "Gilman, Mike" <[email protected]>; "Ferguson,
Mike" <[email protected]>; "Day, Pam" <[email protected]>; "Bass, Larry"
<[email protected]>; "Balch, Dell" <[email protected]>;
"Arensberg, Gene" <[email protected]>; "Adams, George" <[email protected]>
Sent: Monday, November 13, 2000 11:44 AM
Subject: Fw: What to Do if Gore Won't Concede After a Bush Victory
>
> ----- Original Message -----
> From: Concerned (Jeffrey Anderson) <[email protected]>
> To: <[email protected]>
> Sent: Friday, November 10, 2000 7:45 AM
> Subject: What to Do if Gore Won't Concede After a Bush Victory
>
>
> > Are we having fun embarrassing our Nation, Mr. Gore? What do you hope to
> prove, cry baby? It's getting nasty.
> >
> > What to Do if Gore Won't Concede After a Bush Victory
> >
> >
> > Al Gore's campaign chairman William Daley has indicated that if the
> recount
> > shows a Bush victory, Gore will not concede. Daley, together with Warren
> > Christopher have suggested that they will take the situation to the
> courts.
> > In case the Democrats refuse to relinquish power, here is a suggested
> > course
> > of action:
> >
> > United Republican Fund of Illinois
> > Chicago
> > November 9, 2000
> >
> > From: Joseph A. Morris, President
> > To: URF Leaders and Friends
> >
> >
> > Herewith is some practical advice on action that every citizen can take
in
> > the event that the Florida recount confirms the election of George Bush,
> > but
> > Al Gore fails to concede.
> >
> > We all know what is going on in Florida, and that the election hinges on
> > the
> > outcome. I am writing you today to prepare us all for what we will have
to
> > do if what I think is going to happen actually does.
> >
> > The recount, which will be finished by 5 p.m. Thursday, will likely show
> > Bush to be the winner once again, with only a few thousand overseas
> ballots
> > to be counted. Those ballots will be overwhelmingly for Bush, a minimum
of
> > 60% and probably closer to 75%. If the count goes our way tomorrow, we
> have
> > won this election.
> >
> > This is when something critical happens. Either Gore bows out gracefully
> or
> > he doesn't, and I can almost guarantee he won't. These are people wedded
> to
> > power who will only go down kicking and screaming. They will use every
> > legal
> > maneuver in the book to steal the election. (In 1960, when Richard Nixon
> > had
> > every right and reason to challenge the election results he didn't for
the
> > sake of the country. Expect no such noble behavior this time.)
> >
> > What will they try? One bet is to find a friendly judge to throw out the
> > Florida results on a flimsy premise. They are already floating this as a
> > trial balloon in the form of the allegedly "confusing" ballots in Palm
> > Beach
> > County. I have seen the ballots - they are not confusing in the least.
> > Indeed, they are identical in form to the punch-card ballots used in
> > Chicago
> > and Cook County, Illinois, in this very election. What is more, it is
just
> > as likely that Palm Beach County voters who wanted to vote for Bush
> > inadvertently voted for Nader. All parties approved the form of ballot
> > before the election. The form-of-ballot issue is a mere pretext for an
> > effort a judicial invalidation of the Florida election.
> >
> > While I hope this scenario doesn't come to pass, I fear that it will,
and
> > it
> > will only have disastrous results for the country. The election fight
> could
> > drag on for months and actually be decided by a court! If this comes to
> > pass
> > the vision of our Founders and the blood of patriots will have been
> > betrayed.
> >
> > Personally, I am not going to stand for this, and I hope you won't
either.
> > The good news is that we are not without voice.
> >
> > HERE IS WHAT MUST BE DONE: if the vote count affirms Bush's election, we
> > allow a short grace period to see the reaction of the Gore camp. If they
> > have not graciously conceded after a few hours, we must bombard the news
> > media and our public officials AT EVERY LEVEL with phone calls of
outrage
> > that demand Gore's concession. I mean literally millions of phone calls.
> We
> > must jam their phone banks with calls.There are millions of us so it
> > shouldn't be too difficult. (While you're at it, send e-mails to your
> local
> > newspapers as well.)
> >
> > If it becomes widely reported - and it will - that there is a
groundswell
> > demanding that Gore back down and not embarrass the country, it will be
> > very
> > difficult for Gore to withstand the pressure. He will have to relent.
> >
> > Here are some places to start:
> >
> > The White House:
> > telephone (202) 456-4114
> > FAX:(202)456-2461
> > e-mail [email protected]
> >
> > The Vice President's Office:
> > telephone:(202) 274-5000
> > FAX:(202) 456-2883
> > e-mail [email protected]
> >
> > Vice President's Senate Office:
> > telephone: (202) 224-2424
> >
> > Senator Tom Daschle (Senate Democratic Leader):
> > (202) 224-2321
> > Also: (202) 224-5556
> >
> > Representative Dick Gephardt (House Democratic Leader):
> > (202) 225-2671
> > Also: (202) 225--0100
> >
> > Also, be sure to call your congressmen and both your senators. All these
> > numbers are easily located on voter.com. You can also contact them
through
> > the U.S. Capitol Switchboard:
> >
> > U.S. Capitol Switchboard (all Senators and Representatives):
> > (202) 224-3121
> >
> > Another office to call is that of Chicago's Mayor Richard M. Daley (the
> > brother of Gore's campaign manager, Bill Daley):
> > Telephone: (312) 744-3300
> > FAX: (312) 744-2324
> >
> > If you've never made a call like this, there's no reason to be shy. They
> > get
> > opinion calls all the time and are set up to take them. In fact they
like
> > calls. It helps them tell which way the wind is blowing.
> >
> > I'm hoping none of this will be necessary, but I fear otherwise. As
Edmund
> > Burke said, the price of freedom is eternal vigilance. This e-mail is
just
> > to prepare you for the battle that we must engage. PLEASE FORWARD THIS
> > E-MAIL MESSAGE TO EVERYONE YOU CAN THINK OF. IF WE HARNESS THE POWER OF
> THE
> > INTERNET, BY TOMORROW MILLIONS OF US WILL BE READY!
> >
> > /s/ MORRIS
> >
> > , Human Events, 2000
> >
> > Respond to this story.
> >
> >
> |
BUSINESS HIGHLIGHTS
Enron Global Markets - Coal and Emissions Trading
The first Enron Online synfuel trade occurred this past week, establishing EnronOnline as the only online marketplace for synfuel. The purpose of bringing synfuel on EnronOnline is to provide market transparency between the coal/synfuel spread.
The coal cash book, which began trading only two months ago, has traded over 2 million spot tons. The fundamental purpose of this book is to capture short term market discrepancies, while also adding liquidity to the spot market to further long term trading and marketing of coal.
Enron Energy and Operational Services - ENA Solid Fuel Initiative
ENA started development of a Coal Initiative late last year to support the electricity trading desk and to provide Enron with a hedge in the event that the cost of natural gas continues to escalate above current long term projections. Because of the culture shock associated the use of the words 'Enron' and 'coal' in the same sentence, consideration was been given to changing the name to DNG (Dense Natural Gas); however, we went with Solid Fuel Initiative.
This initiative is developing multiple sites throughout the country where ENA feels there is the greatest opportunity for long term corporate benefit. The primary areas are Texas, Florida, southeastern Ohio and the central Rocky Mountain Area. There are 2 principal areas currently being aggressively pursued: Brownsville, TX and Brighton FL. In Brownsville, the Team secured formal Owner approval to lease a 600 acre site near the Brownsville Ship Channel. This approval will allow the formal permitting activities to proceed without delay.
A 500 MW facility is being considered for Brownsville. As conceptualized, it will consist of two - 250 MW (net) CFB units (Circulating Fluidized Bed) Boilers. The boilers will be fired by petroleum coke (petcoke) and use a technology that will generate electricity in the most environmentally friendly way currently possible. One of the advantages of locating this facility near Brownsville is that it remains a steady growth area and there is already serious interest by others to take substantial initial base load capacity. There is further synergy with other developing projects in the area that could lock down additional base capacity. As stated the plant is initially 500 MW, but will be designed to be expanded to a 1000 MW facility.
The EEOS team is starting to grow and currently includes Hilda Akin & Cheryl Kent, Project Admin Assistants, Bill Fox as PEM, and Paula Solomon as PCM. As the project develops there will be more team members required. In addition, as the Florida opportunity develops we plan to establish a separate team.
eSource
eSource, Enron's research group, recently posted on its website a Forrester report as well as analyst reports for various industry and companies. These reports are free and available to all Enron employees on the eSource Hot Topics page at http://esource.enron.com/hot_topics.asp <http://esource.enron.com/hot_topics.asp>. To date, over 1,600 employees have downloaded "Spending Wisely on Private Hubs", a report valued at $2,000. Over 1,100 employees to date have viewed the analyst reports, provided by Investext. The reports, which are updated continuously, are presented in folders by company and industry. New folders are being added upon request. To submit a suggestion for a new folder, please complete the suggestion form at http://esource.enron.com/suggestion.asp <http://esource.enron.com/suggestion.asp>.
Watch for the new eSource bulletin, The Source. It will feature frequently requested searches, tips on finding information, new products, services, and events.
Meanwhile, to further fulfill Enron's information needs, eSource has arranged for analysts and bureau chiefs of various organizations and publishing houses to offer seminars to Enron employees.
Enron Freight Markets
EFM signed a firm contract with Streamline Shippers Association last week to provide truckload capacity for one-year with EFM's option to extend the contract for up to an additional year. Streamline transloads international shipments that enter the U.S. through the ports of Long Beach and Los Angeles. Streamline then consolidates the shipments into full truckloads destined to the major population centers throughout the country. EFM will begin moving shipments to northeast destinations this week.
IN THE NEWS
We are pleased to announce that Sally Beck has been named Chief Operating Officer for Enron Net Works. She will join Greg Piper, President and Chief Executive Officer and Mark Pickering, Chief Technology Officer in the Enron Net Works Office of the Chair.
In her current role as Managing Director for Enron Net Works, Sally heads up Enron's Global Risk Management Operations. She brings more than 20 years professional experience to Enron, joining the Company in 1992. She graduated from the University of Texas at Austin with a B.B.A. in Marketing and an MBA with a concentration in Finance.
WELCOME
New Hires
EGM - Robert Bogucki, Adam Gianonne
EIM - Sylvia Miller
ENA - Theresa McBride, Sriram Vasudevan, Jonathan McKay
Transfers (to or within)
ENA -Brandon Cavazos
EGM - Michael Garcia
NUGGETS & NOTES
Congratulations to Rahul Kumar for passing the CFA Level III Exam.
Weather Risk Management
The weather group is pleased to welcome several new people to their group. Trevor Nathan and Norm Trethewey have joined the Australia office and Kaoru Hijikata has joined the Tokyo office. Please welcome them to our team.
EnronOnline Figures
Below are the latest figures for EnronOnline as of September 7
? Total Life to Date Transactions > 1,420,000
? Life to Date Notional Value of Transactions > $809 billion
Enron Best Practice Tips
United Parcel Service (UPS) Delivers the Following Air Products:
UPS Next Day Air Early A.M. - 8:30 a.m. to selected zip codes
UPS Next Day Air - guaranteed by 10:30 a.m.
UPS Next Day Air Saver - guaranteed by 3:00 p.m.
UPS 2nd Day Air AM - guaranteed by 12:00 p.m.
UPS 2nd Day Air - guaranteed by end of second day
UPS 3-Day Select - guaranteed by end of third day
UPS International Service - World-wide Express Plus, by 8:30 a.m. to select cities in Europe
UPS World-wide Express - second business day
For questions about selected cities and zip codes, please call the Enron Preferred Customer Associate at 800-432-2877.
UPS is Enron's preferred vendor for express deliveries.
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary to Enron Corp. and its subsidiaries. It is intended for internal use only and should not be disclosed.
<Embedded Paintbrush Picture> |
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 05/01/2001 05:27 PM -----
"Chris Micheli" <[email protected]>
04/30/2001 06:19 PM
To: "Susan McCabe" <[email protected]>, "Sue Mara"
<[email protected]>, "Steven Kelley" <[email protected]>, "Steve Ponder"
<[email protected]>, "Stephanie Newell"
<[email protected]>, "Scott Sadler"
<[email protected]>, "Scott Govenar" <[email protected]>, "Sandi
McCubbin" <[email protected]>, "Ron Tom" <[email protected]>, "Roger Pelote"
<[email protected]>, "Robert Ross" <[email protected]>, "Rina Venturini"
<[email protected]>, "Richard Hyde" <[email protected]>, "Rachel
King" <[email protected]>, "Phil Isenberg" <[email protected]>, "Paula
Soos" <[email protected]>, "Mike Monagan" <[email protected]>,
"Maureen O'Haren" <[email protected]>, "Marie Moretti"
<[email protected]>, "Lynn Lednicky" <[email protected]>, "Kent
Palmerton" <[email protected]>, "Katie Kaplan" <[email protected]>,
"Kassandra Gough" <[email protected]>, "Julee Ball" <[email protected]>, "John
Stout" <[email protected]>, "John Larrea"
<[email protected]>, "Joe Ronan" <[email protected]>, "Jeff Dasovich"
<[email protected]>, "Jean Munoz" <[email protected]>, "Jan
Smutny Jones" <[email protected]>, "Jack Pigott" <[email protected]>, "Hedy
Govenar" <[email protected]>, "Greg Blue" <[email protected]>, "Fred Pownall"
<[email protected]>, "Delaney Hunter" <[email protected]>, "Chuck Cole"
<[email protected]>, "Bev Hansen" <[email protected]>, "Anne Kelly"
<[email protected]>, "Andy Brown" <[email protected]>, "John Norwood"
<[email protected]>, "Pete Conaty" <[email protected]>, "Matt Kilroy"
<[email protected]>, "Cary Rudman" <[email protected]>, "Carolyn
McIntyre" <[email protected]>, "Barbara LeVake" <[email protected]>, "Pat
Pape" <[email protected]>, "Mohammed Alrai" <[email protected]>, "Kent
Robertson" <[email protected]>, "Katherine Potter" <[email protected]>,
"Juan Rodriguez" <[email protected]>, "Eileen Koch" <[email protected]>,
"Bill Highlander" <[email protected]>, "Aymee Ramos" <[email protected]>
cc:
Subject: SB 1x hearing today
As you may know, SB 1x (Soto/Scott) passed the Senate Appropriations
Committee by an initial vote of 7-3 (the bare minimum).
Senator Soto said that the Legislature must make a "bold proposition" with
this bill. She said that this experience is "like no consumer has been
gouged before." The Legislature must cap rates. This bill guarantees a
generous profit to generators.
Senator Scott said that these generator profits have been gained off of
consumers. According to FERC, over $500 million in excess profits have been
reaped. Californians have been "royally mistreated" by generators. This
"money has left the state (to Texas and other places)." This bill is the
only solution. The PUC can change the $80 rate. Based upon the January
Field Poll, Californians support this concept. We have to "stand up to the
generators and say no more."
Supporters were: TURN and CTRA (Lenny Goldberg). Lenny said that the FERC
will not give any relief to CA ratepayers, so the Legislature has to. This
bill needs to be combined with the power authority by Senator Burton to hold
prices down.
Other supporters of the bill included: Congress of CA Seniors; CalPIRG; CA
Consumer Federation; CA Labor Federation; SEIU; Public Power Now. SEIU
(public employee union) said that this bill is "the only way to put caps on
rates."
Opponents were CMTA ("this is the wrong medicine for solving the problem");
WSPA (does nothing to resolve the shortage of energy; we should be doing
bills to stimulate greater investment in supply); Intergen said that they are
looking at California market, but will not build with this bill out there.
CA Wind Energy Assn (QFs oppose this bill because the rate is too low); and
IEP (most productive answer to our problem is the build power plants).
Senator Battin said that the price cap is lower than some of the Governor's
long-term contracts at $86 per hour. Senator Scott said that the munis are,
indeed, covered by the bill. He also said that the PUC can change the rates
contained in this bill. Scott also said that the PUC can exempt renewables
under the bill.
Senator Bowen stated that the $80 figure should be removed from the bill
("this price may be inappropriate"). She suggested using the "FERC proxy
price." She suggested that they look at an exemption for contracts with the
state. She saw no reason to exempt the renewables because they would make a
bundle with an $80 cap.
Senator Poochigian said he was concerned about the majority vote issue
(because this bill is allegedly revenue neutral). Scott said all of the
money raised by the bill will go to ratepayers. He said that Legislative
Counsel gave him an opinion (I don't know if it is written or verbal) that
this scheme was permitted. Poochigian said it was ironic that the PUC was
being given the authority to set rates under this bill.
Senator Scott stated that they would take as an author's amendment to exclude
all long-term contracts from the provisions of this bill.
Next stop for the bill is the Senate Floor.
Chris Micheli, Esq.
Carpenter Snodgrass & Associates
1201 K Street, Suite 710
Sacramento, CA 95814
(916) 447-2251
FAX: (916) 445-5624
EMAIL: [email protected] |
[IMAGE]
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In the real world of the NFL, the 36-year-old will have to settle for playing backup quarterback for Denver. story, 6/1 Griese leads quarterback shuffle mailbag The Denver Post's Broncos writer takes your questions each week and responds to the pick of the litter in "Adam Schefter's Broncos Mailbag." Check out the first of two summer installments as Adam tackles questions ranging from the silly to the scintillating, including several about the QB situtaion. mailbag, 5/24 Denver signs QB Beuerlein story, 5/31 Broncos fancying Coleman notes, 5/30 6/5/2001 1:12:02 AM AROUND THE NFL Niners release Jerry Rice The San Francisco 49ers released legendary wide receiver Jerry Rice on Monday. He is reportedly on the verge of signing a deal with the Oakland Raiders. story - From the wire: AP | Sports Network Broncos Mailbag - Griese leads QB shuffle - Get thee to Greeley - AFC West toughens up - That's news to me, C.A. - Don't count on 3-4 View Previous Articles Select an EditionMonday, June 04, 2001Sunday, June 03, 2001Saturday, June 02, 2001Friday, June 01, 2001Thursday, May 31, 2001Wednesday, May 30, 2001Tuesday, May 29, 2001Last Seven Days All contents Copyright 2001 The Denver Post or other copyright holders. All rights reserved. This material may not be published, broadcast, rewritten or redistributed for any commercial purpose. 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-----Original Message-----
From: McCulloch, Angela
Sent: Friday, January 11, 2002 1:06 PM
To: Biever, Jason; Brodeur, Stephane; Burnham, Steven; Cooke, Ian; Cowan, Mike; Davies, Derek; Dorland, Chris; Draper, Lon; Drozdiak, Dean; Dunsmore, Paul; Hrap, Gerry; Kitagawa, Kyle; Lalani, Sean; Laporte, Nicole; Macphee, Mike; Milnthorp, Rob; Richey, Cooper; Rodger, Paul; Sangwine, Howard; Savidant, Michael; Taylor, Fabian; Torres, Carlos; Watt, Ryan; Zufferli, John
Subject: Reports - CERA and Friedenberg
--------- Inline attachment follows ---------
From: <"Brent Friedenberg Associates Ltd." <[email protected]>@ENRON>
To: CNGF <[email protected]>
Date: Wednesday, January 9, 2002 10:51:31 GMT
Subject:
--------------------------------------
Brent Friedenberg Associates
1052 Memorial Drive NW
Calgary, AB
Canada T2N 3E2
(403) 270-0700
(403) 270-0716 (fax)
[email protected]
www.bfa.com--
- cngf200201.pdf
--------- Inline attachment follows ---------
From: <"Brent Friedenberg Associates Ltd." <[email protected]>@ENRON>
To: Western US <[email protected]>
Date: Wednesday, January 9, 2002 10:52:45 GMT
Subject:
--------------------------------------
Brent Friedenberg Associates
1052 Memorial Drive NW
Calgary, AB
Canada T2N 3E2
(403) 270-0700
(403) 270-0716 (fax)
[email protected]
www.bfa.com--
- west200201.pdf
--------- Inline attachment follows ---------
From: <"Brent Friedenberg Associates Ltd." <[email protected]>@ENRON>
To: Midwest & Northeast US <[email protected]>
Date: Wednesday, January 9, 2002 10:53:40 GMT
Subject:
--------------------------------------
Brent Friedenberg Associates
1052 Memorial Drive NW
Calgary, AB
Canada T2N 3E2
(403) 270-0700
(403) 270-0716 (fax)
[email protected]
www.bfa.com--
- East200201.pdf
--------- Inline attachment follows ---------
From: <[email protected]@ENRON>
To: [email protected]
Date: Friday, January 11, 2002 3:00:39 GMT
Subject:
Title: Argentina's Evolving Crisis: Implications For the Energy Sector
URL(s):
http://www.cera.com/eprofile?u=35&m=2921;
***********************************************************************
TOPICS
* Short-term implications of the devaluation and "pesofication" of the energy
sector
* Longer-term signposts for the investment and energy market in Argentina
* Potential effects on the Southern Cone's regional energy integration
FORMAT
Our speakers will address this topic for 30 minutes, with accompanying graphics
presented on the Internet, followed by a question and answer period.
Speakers:
Jed Bailey, CERA Associate Director
Daniel Eloff, CERA Senior Associate
Otavio Mielnik, CERA Associate Director
Time: 11:30 A.M. Eastern Standard Time, Thursday, January 17, 2002
Eligibility: Clients eligible to participate in this conference call are those
who subscribe to the CERA Southern Cone Gas and Power Retainer Advisory Service
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This electronic message and attachments, if any, contain information
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--------- Inline attachment follows ---------
From: <[email protected]@ENRON>
To: [email protected]
Date: Friday, January 11, 2002 3:03:15 GMT
Subject:
Title: India-Pakistan War? Risks and Implications
URL(s):
http://www.cera.com/eprofile?u=35&m=2923;
***********************************************************************
INDIA-PAKISTAN WAR? RISKS AND IMPLICATIONS
Prospects are growing that a short, sharp war could occur between India and
Pakistan over the next several weeks. It is not inevitable; diplomacy could
still pull the two parties back.
* Such a war--if it does occur--need not prompt doomsday predictions or
excessive global concern so long as both countries see short-term political
advantages accruing from a tightly contained conflict.
* It would have a complicating but manageable impact on the American-led
counterterrorism effort in south and central Asia.
* A very limited-duration conflict could even lead to intensive multilateral
efforts to solve the Kashmir dispute, the central dispute between India and
Pakistan.
**end**
Follow above URL for complete Decision Brief (8 printed pages).
E-mail Category: Decision Brief
CERA Knowledge Area(s): Global Energy
*****************************************************************************************
CERAWeek2002 - February 11-15, 2002 - 21st Annual Executive Conference and
Related Events REGISTER ONLINE TODAY AT: http://www.cera.com/ceraweek
** Two- and Four-day Passes Available
** Special Enrollment Programs
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** CERAWeek Online Premium Access
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This electronic message and attachments, if any, contain information
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Terms of Use: http://www.cera.com/tos
Questions/Comments: [email protected]
Copyright 2001. Cambridge Energy Research Associates |
----- Forwarded by Steven J Kean/NA/Enron on 02/20/2001 01:28 PM -----
Sherri Sera
02/15/2001 11:48 AM
To: Steven J Kean/NA/Enron@Enron
cc: Maureen McVicker/NA/Enron@Enron, Joannie Williamson/Corp/Enron@ENRON
Subject: Re: Legal/Political Time-bomb Ticking
Steve, I thought you should probably see this, too. Any idea what this guy
is rambling about? SRS
From: Joannie Williamson 02/15/2001 11:10 AM
To: Rex Rogers/Corp/Enron, Sherri Sera/Corp/Enron@ENRON
cc:
Subject: Legal/Political Time-bomb Ticking
I'm still trying to sift thru this, but I thought you should read.
Joannie
---------------------- Forwarded by Joannie Williamson/Corp/Enron on
02/15/2001 11:07 AM ---------------------------
Will Griffin <[email protected]> on 02/15/2001 10:52:22 AM
To: [email protected]
cc: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected]
Subject: Legal/Political Time-bomb Ticking
Dear Ms. Williamson:
Per an autoresponder from Yorleni Mendez, I am forwarding to you
what I sent to Enron & others a couple of days ago, which was in
supplement to what I sent on Feb. 6th. Time is of the essence and not
on your side. Nor are the facts & the law on your side. Therefore, you
need to find a way to get us to be on your side.
Due to the urgency and foreseeable and announced forthcoming event
horizons, I believe you may wish to provide copies of the attached to
the proper persons at Enron for their immediate attention. Please let
them know that if I have to continue to give information & documents to
the U.S. Senate and the proper others, that I will do so and then also
show that the failure of Hughes interests/companies to take remedial
measures was indeed blatant refusal. We have already logged where
Hughes companies/interests have been to
http://willgriffin.com/hughes.htm thus you might as well continue to
visit there and see where we have posted changes and new information.
The knowledge of the Hughes companies/interests of these matters is now
clearly established. We've already submitted some of our visitor logs
and other documents to the proper others, establishing the knowledge of
Hughes companies/interests to others. This is something I am sure will
be most meaningful to the lawyers, along with a few other things I'm
sure which will get their attention..
Also please have someone forward the attached to William Rice
Lummis, James A. Baker and others and advise them that surprises,
attention getters & wake-up calls are just around the corner. They need
to contact us soon, before it becomes improper to discuss how a
reasonable (fanny & facing-saving) resolve for Hughes
interests/companies may be achieved.
Will Griffin
http://willgriffin.com/hughes.htm
X-Mozilla-Status2: 00000000
Message-ID: <[email protected]>
Date: Tue, 13 Feb 2001 11:37:24 -0600
From: Will Griffin <[email protected]>
Organization: Griffin Group
X-Mailer: Mozilla 4.7 [en]C-bls40 (Win95; U)
X-Accept-Language: en
MIME-Version: 1.0
To: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected]
Subject: Advisory of Your Legal/Political Exposures Coming True
Content-Type: multipart/mixed; boundary="------------C4135F3BD40002931C95C2CA"
Dear Hughes Electronics, Enron, HHMI, and Hughes Lawyers, et. al:
I am fully aware how many of the Hughes interests visited
http://willgriffin.com/hughes.htm after I sent you an e-mail on Feb. 6,
2001, advising you of your impending difficulties and exposures.
I have made some changes to these Hughes related pages, including
posting my advisory to you to http://willgriffin.com/letterto.htm for
your convenience and reference, with active e-mail links to you and each
other.
Also since I contacted you last week (the next day), Enron has been
in the news as being the biggest beneficiary of the California energy
woes, while also being the largest contributor, fund-raiser and general
benefactor to President George W. Bush.
http://www0.mercurycenter.com:80/premium/business/docs/enron07.htm
Another article goes even further showing the relationship of James
Addison Baker III to Enron and Hughes "Bush's Biggest Donors Gain From
High Prices in California Crunch"
http://www.villagevoice.com:80/issues/0106/ridgeway3.shtml
You may wish to re-visit the updated
http://willgriffin.com/hughes.htm (refesh/reload the page to clear your
browser's cache of the previous copy) after reviewing the news articles
links about Enron provided above. You should know and reasonably
foresee that you are not the only visitors to my Hughes pages. You
should also know that I've had contact with the proper authorities and
this to include correspondences within this past week. Then again, I'm
sure many in the pipeline of those who review this and my previous
advisory know this to be true, or to reasonably foresee the interest of
many others at a minimum.
I believe you to foresee more to soon become public difficulties for
you and that the intensity will no doubt increase significantly. You
should know that any political related problems will include Democrats
in volumes, but there exists quite a few Republicans who will disavow
and distance themselves from you. The China-Hughes missile & satellite
technology transfers, that were cited in the Cox Committee report, and
the arming of Sadaam Hussein with Hughes technologies issues are about
to pop up their heads and see a longer shadow than the groundhog
recently did. This, in addition to the recent articles about Enron,
current activities and forthcoming event horizons, is not good news for
Hughes interests.
You just might want to ask William Rice Lummis and James A. Baker
III, et. al. how they intend to solicit the help of the guy who holds
the keys to resolve, who they've got a little miffed at them, because of
what was done to him in an ad hominem attempt. Certainly, when it is
true that if he now does nothing and a profound correlation exists
between how bad things go for you and how good things go as a result for
him, then why should he help y'all? It appears if you ask Mr. Baker
about the Matter of Hughes and how we hold the keys to an amiable
resolve, that he will stipulate that it will take some real "Politics of
Diplomacy" to persuade us to help you, but that this needs to be
urgently accomplished.
Will Griffin
- griffgrp.vcf
- griffgrp.vcf |
Thanks again.
James D Foster@EES
02/28/2001 01:09 PM
To: Jeff Dasovich/Na/Enron@ENRON
cc:
Subject: Re: CPUC inquiry re gas customer turnbacks
Your understanding of my previous dissertation is correct. -Jim
From: Jeff Dasovich@ENRON on 02/28/2001 01:04 PM CST
Sent by: Jeff Dasovich@ENRON
To: James D Foster/DUB/EES@EES
cc: Catherine Woods/DUB/EES@EES, Dennis Harris/DUB/EES@EES, Harry
Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON, [email protected], Paul Kaufman/PDX/ECT@ECT, Peggy
Mahoney/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Roger O
Ponce/HOU/EES@EES, [email protected], [email protected]
Subject: Re: CPUC inquiry re gas customer turnbacks
Thanks very much for getting back to us. So if I understand the bottom
line: 1) the customer was mistakenly put back to SoCal (due to the dual
service territory character of the customer's facilities), 2) the customer
will be returned to our service, 3) the customer's contract with us expires
on 5/31, and 4) the customer will have the option of re-signing with us, or
returning to SoCalGas when the contracts ends on 5/31? If I've confused
anything, please let me know. And thanks again for helping track down the
info.
Best,
Jeff
James D Foster@EES
02/28/2001 12:56 PM
To: Catherine Woods/DUB/EES@EES, Jeff Dasovich/NA/Enron@Enron, Dennis
Harris/DUB/EES@EES
cc: Roger O Ponce/HOU/EES@EES, Catherine Woods/DUB/EES@EES, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, [email protected], Paul Kaufman/PDX/ECT@ECT, Harry
Kingerski/NA/Enron@Enron, Peggy Mahoney/HOU/EES@EES, [email protected],
[email protected]
Subject: Re: CPUC inquiry re gas customer turnbacks
Upon research, it was discovered that this customer has two active meters in
two different Utilities (PG&E, and SOCAL) under the same contract. This is
the reason for the confusion. For tracking purposes, we "break-out" meters
by LDC in order to assign our customers to reps familiar with a particular
LDC. Those customers that have multiple LDC's under the same contract are
assigned to the same rep. This allows the customers to speak to the same
individual for all of their accounts.
Unfortunately the site in question was identified in error as a single site
only. The site in PG&E was assigned to Dennis Harris, while the site in
SOCAL, because of the low usage, was identified for transition to SOCAL.
This was not our intention. The data has been realigned and Dennis Harris
now has access to both records.
I spoke to Dennis regarding this issue, and he will contact the customer,
explain why it occurred, stop the transition to SOCAL for this site, should
the customer choose to; as well as coordinate a renewal for this customer
going forward, as their current agreement is to expire 05/31/01.
Catherine Woods
02/28/2001 08:53 AM
To: Foster
cc:
Subject: CPUC inquiry re gas customer turnbacks
Can you indentify the owner of this record?
Thank you!
---------------------- Forwarded by Catherine Woods/DUB/EES on 02/28/2001
08:52 AM ---------------------------
From: Jeff Dasovich@ENRON on 02/27/2001 05:47 PM CST
Sent by: Jeff Dasovich@ENRON
To: Roger O Ponce/HOU/EES@EES, Catherine Woods/DUB/EES@EES, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Karen
Denne/Corp/Enron@ENRON, [email protected], Paul Kaufman/PDX/ECT@ECT, Harry
Kingerski/NA/Enron@Enron, Peggy Mahoney/HOU/EES@EES
cc:
Subject: CPUC inquiry re gas customer turnbacks
Catherine/Roger:
Here are some more details forwarded by our outside counsel.
Best,
Jeff
----- Forwarded by Jeff Dasovich/NA/Enron on 02/27/2001 05:44 PM -----
MBD <[email protected]>
02/27/2001 05:25 PM
To: "'Jeff Dasovich Enron SF'" <[email protected]>
cc: "'Sandi McCubbin Enron SF'" <[email protected]>, "'Sue Mara at Enron
SF'" <[email protected]>
Subject: CPUC inquiry re gas customer turnbacks
Jeff:
Here is some more useful information. Sarita Sarvate of the CPUC spoke to
the woman in person. The school in question is the Providence High School
in Burbank, California (not Ontario), operated by the Sisters of Providence.
Ms. Kathy Pentalio (sp?) at 818-846-8140 wrote to the CPUC asking about the
school's options after receiving phone and letter notification that their
gas service would be terminated by Enron. Apparently the Sisters also
operate a hospital which is also served by Enron. Ms. Pentalio indicated
that she was told that the school would no longer be served on the same
contract as the hospital (claimed to be an attractive 86 cents/th rate)
because the school's load was so small that it was a core customer, while
the hospital was a noncore customer with a larger load. Neither Ms.
Sarvate nor Ms. Pentalio was clear if the school was served as a core
aggregation customer or as part of the Sisters of Providence noncore
contract. Ms. Pentalio claimed she spoke with Enron employees Dennis Harris
in Dublin, Ohio as well as Roger Pons in New Mexico. She indicated that
service would be terminated on June 1, 2001 and she is looking for
alternative sources of gas.
Sarita Sarvate of the CPUC Energy Division would like to understand the
specifics of this case, but her main concern, and the purpose for sending a
letter (if she does send one) is that Dynergy has told her that a number of
small noncore businesses are being returned to the utilities by marketers
because they no longer meet credit requirements. She assumed that must be
true with Enron as well. I indicated to her that she should never assume
that we are doing what Dynegy is doing and that we would respond and advise
her if there was any significant trend of noncore customer turnbacks. The
Commission's concern, which I know you understand, is that it is phasing out
the core subscription schedule (and has a moratorium on switches to the
SoCalGas core subscription schedule) therefore leaving no place for such
customers to go if they cannot contract with a replacement aggregator.
Please advise me of what you discover about this matter and we can talk
further about a response to the CPUC. Thank you.
Mike Day |
-----Original Message-----
From: Pehlivanova, Biliana
Sent: Wednesday, November 21, 2001 9:24 AM
To: Beylin, Anya; Guzman, Julio; Marolo, Massimo; Pimenov, Vladi
Subject: FW: DYN($42/sh)/ENE($7/sh) Merger At Risk. - Simmons and Company latest thoughts
-----Original Message-----
From: Bhatia, Randy
Sent: Wednesday, November 21, 2001 8:55 AM
To: Gossett, Jeffrey C.; Keiser, Kam; Jones, Brad; O'Rourke, Ryan; Pehlivanova, Biliana
Subject: FW: DYN($42/sh)/ENE($7/sh) Merger At Risk. - Simmons and Company latest thoughts
got this from a friend at dynegy. written by someone at Simmons & Co., Inc.
To: Sales Trading
11/21/01 07:42 cc:
AM Subject: DYN($42/sh)/ENE
($7/sh) Merger At
Risk.
SUMMARY: We are reducing our estimated probability that the DYN/ENE merger
is completed to less than 50%/50% based on our belief that ENE's existing
wholesale and retail businesses are having a difficult time maintaining
their volumes and margins. We have discussed ENE's need to improve counter
party confidence on a number of occasions over the last few weeks, and we
believe counter party confidence deteriorated further based on the
information included in the 10Q, and the strong negative reaction in the
stock and bond markets yesterday. The tone of our discussions with
competing traders and marketers (representative of ENE's counter
parties--which are critical in maintaining ENE's volumes) is becoming more
negative. While ENE is continuing to confirm that volumes are improving
since the lows on November 9, our market intelligence is suggesting
improment has stalled. In addition and probably related, ENE's liquidity
position seems to be continuing to deteriorate despite significant recent
capital infusions. We are reducing 4Q01 estimates to reflect lower volume
and margin assumptions. What would get us more comfortable? ENE 8K
disclosure confirming higher volume and decent margins (ENE has committed
to provide 4Q guidance by early-mid December, and/or a change in the tone
of the counter parties that would suggest they are increasing trading
activities with ENE.
OPINION ON THE STOCKS:
ENE. No change in our opinion on ENE--the upside potential is simply
not worth the downside risk.
DYN. DYN is likely to benefit in almost all outcomes. If our concerns
about counter party confidence prove to be wrong, the upside associated
with the accretion in the transaction would likely be huge. However, we
sense DYN is getting frustrated by continued restatement of earnings,
unexpected debt triggers and worse than expected liquidity problems. If
the transaction falls apart, DYN would have some transaction costs that
would negatively impact cash flow in the near-term, but DYN would
benefit from gaining market share and hiring some of ENE's talent away
longer term. A potential downside case for DYN is that DYN retrades the
deal on recent information, but is forced to reduced its flexibility to
terminate the transaction through material adverse change
considerations, this out come would concern us. We continue to believe
DYN is a solid long-term holding for investors. However, we are
recommending caution with new money, due to our belief that DYN still
has $5/sh to $7/sh of "deal" premium factored into the current stock
price which could be at risk if the deal fails. We do not believe DYN
has significant accounts receivable exposure to ENE in the event the ENE
has further liquidity problems (we believe DYN's trading agreement with
ENE limits exposure to maybe $100 to $150 MM).
COUNTER PARTY INCENTIVES: ENE identified in its 10Q that transaction
volume (especially long-term transactions) have declined since the 3Q. If
you are a utility or industrial customer, why enter into a long-term
transaction with ENE? Why not go directly to DYN or diversify with other
suppliers? If you are a natural gas or power producer, why create the
account receivable risk? If you are a counter party, strategically why
would you contribute to the continuation of the ENE machine--to the
ultimate benefit of strengthening another competitor (DYN)? We believe
that ENE is offering attractive financial incentives (premium purchases
and/or discounted sales) to entice counter parties to trade with them.
However, this would also suggest ENE margins may be getting squeezed.
EPS ESTIMATES (new/old/consensus):
4Q01-$0.20/0.35/0.42, FY01-$1.55/1.70/1.78, FY02-$1.50/1.50/1.90
We are reducing expectations for margins in the Wholesale segment from
9cts/mmbtu to 7cts/mmbtu--negatively impacting 4Q EPS by 10cts/sh. In
addition, we expect contributions from Enron Energy Services will be
lower due to challenges in closing long-term transactions (much of EES's
earnings are mark-to-market recognition of the value created in
long-term agreeements) impacting our estimate by 5cts/sh.
*****************************************************************************************************
This e-mail is based on information obtained from sources which Simmons &
Company International believes to be reliable, but Simmons & Company
International does not represent or warrant its accuracy. The opinions and
estimates contained in this e-mail represent the views of Simmons & Company
as of the date of the e-mail, and may be subject to change without prior
notice. Simmons & Company International, its partners and/or employees may
have positions in the securities discussed. Simmons & Company
International may make a market in the securities discussed and may have
served as a financial advisor and/or underwriter to companies discussed.
Simmons & Company International will not be responsible for the consequence
of reliance upon any opinion or statement contained in this e-mail. This
e-mail is confidential, and may not be reproduced, in whole or in part,
without the prior written permission of Simmons & Company International. |
Hi Jim
Per our telecon. Pls call me upon reading and we'll discuss the fwd path
Regards
sunil
---------------------- Forwarded by Sunil Deshmukh/AIGTC/US on 05/24/2001
01:51 PM ---------------------------
Sunil Deshmukh on 05/21/2001 03:07:54 PM
To: [email protected]
cc:
Subject: Solution to the Enron's dabhol Power Plant Situation
Hi Wade
It was nice catching up on the old stuff.
Attached, pls find the summary of my thoughts on the subject. As time is of
the essence, I am confident, I can structure a solution that will be
satisfactory to all parties and fulfils your objective.
Pls run this by Jeff and other key people . I wud like to present my
solution to them.
As I mentioned, Ambassador Wisner is fully supportive of my efforts and we
can find a way that works
Regards
sunil
Sunil Deshmukh
MD, Structured Transactions
AIG Energy Trqding
203-861-3804 W
203-322-0546 H
---------------------- Forwarded by Sunil Deshmukh/AIGTC/US on 05/21/2001
02:52 PM ---------------------------
Sunil Deshmukh on 05/11/2001 12:23:08 PM
To: [email protected]
cc:
Subject: Solution to the Enron's dabhol Power Plant Situation
Hi Jeff
I have the following thoughts for a clean solution to the Dabhol Power
Plant situation
Background
Locals:
Local govt in the State of Maharashtra wants to squeeze them by forcing
them to keep the plant operating but refusing to pay [ standard Chinese
torture in the 3rd world when the real pain starts after you part with the
money and stuck in the tar pit]
The Central govt characters were previously involved with the "fast track"
approval , are now hesitant to help out for the fear of political damage .
The elctricity is now too expensive for the locals due to $/Rupee and Oil
Price hit per the original contract that locals signed and did not hedge!
This has become an unpopular political football with prior champions
running for cover, so only bad things will come out of it if the agony
prolongs
Enron:
Enron has made a paradygm shift from physical to intellectual assets, so
the India Powe Plant does not fit the forward path
This is an example of "how not to do things" as it was done with highest
profile and with open involvement of political Mafia, involving broad
allegations of corruption and highly unusual approval and guarantee
process. Enron does not need this "Tar Baby" any more
If they get rid of this problem, the stock is likely to go up 10 % , a
better arbitrage for getting rid of this liability
AIG:
Ambassador Wisner, Vice Chairman of AIG was the US Ambassador to India
during this period and knows all the cast of characters and the situation
well. He is also the President of the Indo-American Chamber of Commerce and
is trying to reconcile the situation. Since he is wearing 2 hats, he does
not want to approach Enron for a role in getting rid of this liability. I
have discussed this issue with him at length
I am the only person who knows ALL the cast of characters involved in this
drama very well. I have met Ken as we were keynote speakers at a conference
and later met in NY for personal chat. Jeff gave me a personal tour of the
trading floor when he was the head of trading at Enron and I was head of
trading at Citibank.. Sanjay Bhatnagar, their previous India man whio
worked closely with Rebecca is also known to me .
Additionally, I personally know the current Chief Minister of the State of
maharashtra, Vilasrao Deshmukh, all the Left Front partners, Mr Pawar who
initially approved the deal as the previous Chief Minister. I also know Mr
Munde and Mr Thakare, the two politicians who approved the expansion of
this project when they were in power. Current minister in charge of the
Power Portfolio is also a friend of mine. My contacts with all of these
people were developed over the past 10-20 years and are on a close
personal basis; hence, I have a neutral, trusted position with all
concerned
I have close contact with Reliance and Tatas and personally discussed
this situaton with the owners during my trip to Bombay last week. As you
know, nothing gets done there without Reliance's blessings
Solution;
If Enron empoweres me, I can negotiate a clean break in this situation
that will be mutually beneficial and free up the management's energies to
focus on the main business. Ambassador Wisner is fully supportive of this,
as he just does not want to take personal initiative for the reasons of
apparent confliict of interest .
I can broker political and business peace with a clean sale of assets to
the locals or their nominees at a fair market value. Enron , being a
"merchant-operator', understands the concept of "mark-to-market" valuation
better than anyone else
This is more of a negotiated solution, brokered by a skillful negotiator
with "East-West" skills and connections rather than an M&A transaction
The lenders' interests are not aligned with those of Enron and a separate
peace needs to be brokered with the locals, if they so desire
Dealing with the burocrats with politicians playing " puppeteers" in the
background will cause further "quicksand" effect
Time is of the essence as this is akin to the "perishable goods" problem
I wud like to get together with the key decision makers on the Enron side
to present this view
You know my professional background and qualification and I feel very
confident that I am the only person in the unique position to extricate all
concerned with the ability to forge a fair solution
Sunil Deshmukh:
Education- MS Chem Engg, MBA, JD, Licences to practice law in the US
Experience-- MD Structured Transactions, AIG Energy, Greenwich, CT
Previously, MD and Head, Global Commodity
Derivatives Business , Citibank, NY
Head, Crude Oil Trading,
Louis Dreyfus, Wilton, CT
Sr Trader, J. Aron, NY
Worked for BP and Exxon
Regards
sunil
***************************************************************************
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Enform expands Sun Micro partnership
HOUSTON, Dec. 15 (LocalBusiness.com) -- Enform technology, a high-tech
consultant, said it has expanded the company's strategic partnership with Sun
Microsystems Inc. Privately held Enform said Palo Alto, Calif.-based Sun
Microsystems (Nasdaq: SUNW) is letting the company employ its integrator
technology called iForce eIntegrators, for use in creating Web applications
and building back-end systems that connect to the site. Sun will help Enform
build its service offerings and create custom consulting services, which will
be jointly marketed. How much more business this will bring to Enform is not
clear, and company officials today were not available to discuss the deal.
Enform, which is run by John McNevin, a former partner at Ernst & Young, has
grown quickly in its three-year existence. The Houston company helps
businesses reinvent themselves by upgrading their systems or finding new
technologies they need to remain competitive. Since its inception, Enform has
apparently been profitable. It hasn't needed any venture capital to operate.
The company has about 200 employees, with branch offices in Dallas and
Austin, and expects to post sales of about $21 million this year. Enform
recently told LocalBusiness.com that it expected to log about $100 million in
sales next year, if the economy holds. Its client list includes Microsoft
Corp., Engage Energy and Continental Airlines.
________________________________________________________
o Public MarchFirst Gets $150 Million from Francisco Partners
CHICAGO -- MarchFirst, a publicly traded Internet
services company, said that Francisco Partners,
a private equity firm focused on investments in
technology companies, has agreed to invest $150
million in the company in exchange for an eventual
32% equity stake. MarchFirst said it will use the
new capital to focus on operations. The company
assists business with services such as brand building.
David M. Stanton and Neil M. Garfinkel, both of
Francisco Partners, will join MarchFirst's board
of directors, bringing the total to nine members.
http://www.marchfirst.com/
_____________________________________________
o Aether Systems Buys RTS Wireless in $103 Million Deal
OWINGS MILLS, Md. -- Aether Systems, a publicly
traded provider of wireless data products and services,
said it signed a definitive agreement to acquire
RTS Wireless, a developer of software systems that
connect the Internet to wireless devices. Aether
will acquire RTS for a total of approximately $103
million, which includes $26 million in cash and
1.3 million shares stock, trading at $59.25. Aether
will gain a team of 120 wireless engineers among
RTS's 200 employees. RTS's investors include America
Online and individuals.
http://www.aethersystems.com /
http://www.rtswireless.com/
_____________________________________________________-
o E-Numerate Solutions Secures $9 Million in Round One
MCLEAN, Va. -- e-Numerate Solutions, which provides
technology that allows users to compare and analyze
numerical data on the Web, said it has raised $9
million in its first round of funding led by Carlyle
Venture Partners, which provided $3 million. Undisclosed
individual investors also participated in the round.
The company said it will use the funding to continue
its expansion.
http://www.e-numerate.com/
_____________________________________________
o Digital Broadband Cuts Staff Due To Faltering Funding Talks
WALTHAM, Mass. -- Digital Broadband, which provides
broadband communications services, said it would
lay off "a substantial portion of its workforce."
The company attributed the layoffs to "adverse market
conditions and its inability to attract sufficient
additional financing to fund its business plan."
According to CNET'S News.com, the company will lay
off 450 of its 526 employees, or 86% of its workforce.
The company raised capital from THL, Alta Communications,
BancBoston Ventures, and individual investors.
http://www.digitalbroadband.com/
_____________________________________________
o E-Business Services Firm Bigstep.com Lays Off 34-Employees
SAN FRANCISCO -- Bigstep.com, which provides small
businesses with electronic business services, said
it has laid-off 34 employees. Bigstep.com now has
110 employees. The company said the staff reduction
will allow it to shift with market changes and remain
a viable business. Employees received a severance
package as compensation, the company said. Bigstep
is backed by Worldview Technology Partners, InterWest
Partners, Cardservice International, Compaq Computers,
Office Depot, U.S. Venture Partners, Mayfield Fund,
the Washington Post Company, Angel Investors LP,
Partech International, Draper Richards, Argus Capital,
Staenberg Private Capital, and undisclosed private
investors.
http://www.bigstep.com/
_____________________________________________
o Business Firm iReality Group Acquires Consulting Firm Semtor
FORT LAUDERDALE, Fla. -- Hong Kong-based iReality
Group, a business services firm, said it acquired
the U.S. consulting firm Semtor for an undisclosed
amount of stock. Semtor chairman and CEO Harold
Gubnitsky said that Bloomberg and the Miami Herald
listed the transaction at being valued between $70
million and $90 million, but he could not confirm
that valuation. iReality Group will absorb Semtor
and retain all of its employees. Both companies
are backed by individual investors, and the new
company may hold a round of mezzanine funding before
seeking an IPO next year.
http://www.irealitygroup.com/
http://www.semtor.com/
_____________________________________________ |
======================== THE MOTLEY FOOL ========================
INVESTING BASICS
Tuesday, October 23, 2001
[email protected]
=================================================================
IN THIS ISSUE
---------------------
- Q&A: Should I Invest in High-Yield REITS?
- Q&A: How Much Do I Need to Invest?
- LESSON: Warren Buffett on Investing
=================================================================
SPONSORED BY: Kaplan
Become a Financial Planner! Kaplan College's online Cert.
in Financial Planning program prepares you for success in
the #1 ranked profession. Invest in your future career today!
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=================================================================
YOUR QUESTIONS ANSWERED
Q. WHY DO SOME REAL ESTATE INVESTMENT TRUSTS (REITS) HAVE
TERRIFIC DIVIDEND YIELDS WHILE OTHERS DON'T? IS THERE ANY REASON
NOT TO INVEST IN HIGH-YIELD REITS?
A. If a yield looks too good to be true, it probably is.
Remember that it's the market that sets the price of the stock.
And as a stock's price drops, its yield rises.
For perspective, consider that a 30-year U.S. Treasury is priced
to yield around 6 percent, because investors are pretty sure the
dividend will be paid. But Russian government bond yields can hover
around 30 percent -- because investors are not so sure.
The same goes with REITs. As an example, consider Kranzco, the
highest yielding shopping center REIT with a yield of around 15
percent at the time of this writing (in 2000). Because of weak
earnings, it has been forced to cut its dividend. This
development caused many investors to sell, sending the stock
price south and the yield up. Management's dividend cut may be
enough, but investors are understandably nervous about what the
future holds.
If you invest in a REIT yielding 10 percent, things may well
turn out hunky-dory. But if you go for one kicking out 18
percent to 30 percent, you're buying into income streams that
other folks find pretty doubtful. You'll want to do enough
research to be pretty sure you're right.
Q. WHAT IS THE LEAST AMOUNT OF MONEY THAT YOU CAN INVEST? WHAT
IF YOU DON'T HAVE ENOUGH MONEY TO BUY 100 SHARES?
A. It's tragic that many people put off investing for years,
thinking they're not rich enough to benefit from the stock
market. You definitely don't need to have $1,000 or more before
you start investing. You don't have to buy 100 shares at a time.
You can buy 17 shares or nine shares -- or even fractions of
shares, using some services. For instance, at buyandhold.com,
you can invest as little as $20 at a time and buy fractional
shares of stock, paying $2.99 per trade.
http://www.lnksrv.com/m.asp?i=524551
If you're really interested in learning more about the basics,
check out our Beginning Investing Online Seminar that also
includes a copy of our Money Guide.
http://www.lnksrv.com/m.asp?i=524552
-----------------------------------------------------------------
THIS WEEK'S LESSON
WARREN BUFFETT ON INVESTING
A great way to learn about investing is to glean insights from
experienced, successful investors. One of the savviest is Warren
Buffett. Here are some comments he made at his Berkshire Hathaway
shareholder meeting in 2000:
"The first investment primer was written by Aesop in 600 B.C. He
said, 'A bird in the hand is worth two in the bush.' Aesop forgot to
include when you get the two in the bush and what interest rates are.
Investing is simply figuring out your cash outlay (the bird in
the hand) and comparing it to how many birds are in the bush and
when you get them."
"It's no religious thing why we don't invest in technology. It's
just that we've never found a company where we think we know what
the bush will look like in 10 years and how many birds will be in it.
We understand technology and its impact on society. It's the
predictability of the economics of the situation 10 years out
that we don't understand. ... The only way we know how to make
money is to buy businesses we understand."
"I own 100 shares of companies such as Microsoft and Intel, so I
get the annual reports. I don't think it's a dumb thing if you want
to learn about businesses to invest tiny amounts in various companies
-- especially for young people -- to get exposed to various managements,
to go to shareholder meetings, get reports, etc."
"It pays to have the right role models/heroes. ... You'll want
to be a little or a lot more. I tell students to pick out the qualities
they admire in people they admire and ask why they can't develop
those qualities themselves. It's very simple. The person you'd
really like to admire is yourself."
Berkshire's Vice Chairman Charlie Munger added, "You can't avoid
making wrong decisions in life, but if you recognize them and do something
about them, you can wring some lemonade out of them. We've
scrambled our way out of many mistakes."
For more Buffett wisdom, head to berkshirehathaway.com, where
there are several decades' worth of his extremely educational
letters to shareholders. Or visit our Berkshire Hathaway
discussion board online.
http://www.lnksrv.com/m.asp?i=524553
=================================================================
SPONSORED BY: Kaplan
Become a Financial Planner! Kaplan College's online Cert.
in Financial Planning program prepares you for success in
the #1 ranked profession. Invest in your future career today!
http://www.lnksrv.com/m.asp?i=524554
=================================================================
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Legal Information: http://www.fool.com/m.asp?i=524560
MsgId: msg-17673-2001-10-23_14-03-36-5061645_5_Plain_MessageAddress.msg-14:05:10(10-23-2001)
X-Version: mailer-sender-master,v 1.84
X-Version: mailer-sender-daemon,v 1.84
Message-Recipient: [email protected] |
OK. let me know what time works and we'll meet. I also have ( I need to
look for it) a whole bunch of magazine cutouts that I had gathered earlier
when you first bought your house to show you. These are just examples of
possible styles, tables, accessories etc. that you might like and that I can
help you find to place in your house. We can go over these as well if you
want. I also have books I can lend you for you to look through and let me
know if you like something.
Tina
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, October 22, 2001 4:27 PM
To: [email protected]
Subject: RE:
Hi there, how about tomorrow around lunch time?
-----Original Message-----
From: "Swartz, Cristina" <[email protected]>@ENRON
Sent: Monday, October 22, 2001 3:18 PM
To: Shankman, Jeffrey A.
Subject: RE:
Importance: High
I've got 2 samples of fabric. 1 plain off white and the other a ribbed
off
white. Elizabeth and I prefer the ribbed.
Plain = $40 retail / $20 cost
Ribbed = $50 retail / $25 cost x 34 yards = $850
I'll give them to you at cost so that we can continue furnishing your
house
( I hear it's empty).
If you have time this afternoon and can walk down to your Lobby I can
meet
you there to show you the fabrics. Also, bring down a check so that I
can
stop by Walter Lee Culp and order you couches and fabric ma?ana. Fabric
can
be overnighted if needed or sent 2 day.
I think 2 day is plenty of time.
50% now - (not including taxes)
50% later + shipping and taxes when couches are ready for delivery (6-8
wks.).
Need now
$5445 for 2 loveseats and 1 couch + $850 for fabric = $6295
I will give you a receipt.
Let me know when you can see the fabric........
Tina
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, October 16, 2001 2:59 PM
To: [email protected]
Subject: RE:
Good. I'm going to Cabo thursday and will be back early sunday. If you
have a few samples, I'll pick one, and well go forward. Can we order
the 3
sofas, and send them the fabric when it comes so we can get in the line
of
orders? No problem on the check.
What do you think of them? Be brutal.
Jeff
-----Original Message-----
From: "Swartz, Cristina" <[email protected]>@ENRON
Sent: Tuesday, October 16, 2001 2:49 PM
To: Shankman, Jeffrey A.
Subject: RE:
Retail for couch is $5460 (saving $1170 about 27% lower)
Retail for loveseat $4200 (saving $900 about 27% lower.)
I may be able to save you more on the fabric if I can find the one
you
need
at Kravets since they give me 50% off. The majority of the furniture
stores
only give between a 20-30% off. The couches take about 6-8 weeks if
they
are in stock and usually are. I'll get some fabric this Friday
during
lunch
and maybe I can show you over coffee that afternoon. I'll need to
order
the
fabric so add another 2 weeks at least before the store gets it.
Also,
I'll
find out paying conditions but usually is 50% upfront (cash) and then
the
other 50% when ready for delivery. They don't take credit card.
Checks
payable to me and I pay with my company check.
I'll get moving and call you on Friday.
Sound good?
-----Original Message-----
From: [email protected]
[mailto:[email protected]]
Sent: Tuesday, October 16, 2001 2:25 PM
To: [email protected]
Subject: RE:
Holy cow this is expensive. Of course I don't care about your 5% or
so,
but what is the retail on these babies? I'm pretty flexible on the
fabric--mid range would be fine. Let's move ahead. (2 loveseats
though,
not 1) How long did they say?
Jeff
-----Original Message-----
From: "Swartz, Cristina" <[email protected]>@ENRON
Sent: Monday, October 15, 2001 5:04 PM
To: Shankman, Jeffrey A.
Subject: RE:
OK...
Sofa = $4290
Loveseat = $3300
8.25% tax = $626.18.
Total = $8,216.18. Both w/out fabric.
You need a total of 23.5 yards of fabric. I usually get about a
30-35%
discount on fabric so if you are OK with the couch prices, I can
go
to
the
Decorative Center and get some fabric samples for you to choose
from.
I
have no clue as to how much indoor/outdoor fabric goes for but
I'll
get
a
range so that you can see the difference between the cheaper and
expensive
type. Let me know how you would like to proceed.
Thanks, Tina
-----Original Message-----
From: Shankman, Jeffrey A. [mailto:[email protected]]
Sent: Monday, October 15, 2001 10:30 AM
To: [email protected]
Subject:
Hi Tina,
Thanks for you help.
The site is www.thewickerworks.com. Click on it to go directly
there.
The are in Houston at Walter Lee Culp. 713 623 4670.
If you go to their web site go to the home page, then to the tab
that
says wicker, then to the tab that says more. The design is Helva.
I need 1 Helva sofa, and 2 Helva loveseats, of course in a very
plain
off white (not tan as one of the pictures shows) indoor/outdoor
fabric.
Or if you have any other ideas, let me know, of course.
Regards,
Jeff
713 853 1761
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant
affiliate
and
may contain confidential and privileged material for the sole use
of
the
intended recipient (s). Any review, use, distribution or
disclosure
by
others is strictly prohibited. If you are not the intended
recipient
(or
authorized to receive for the recipient), please contact the
sender
or
reply
to Enron Corp. at [email protected] and
delete
all
copies of the message. This e-mail (and any attachments hereto)
are
not
intended to be an offer (or an acceptance) and do not create or
evidence
a
binding and enforceable contract between Enron Corp. (or any of
its
affiliates) and the intended recipient or any other party, and may
not
be
relied on by anyone as the basis of a contract by estoppel or
otherwise.
Thank you.
********************************************************************** |
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You are currently subscribed to hot_deals as [email protected]
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Copyright 2001 by Bestfares USA Inc. All rights reserved. |
HOUSTON ) Enron Broadband Services (EBS), a wholly owned subsidiary of Enron
Corp. and a leader in the delivery of high-bandwidth application services,
announced today content delivery contracts with Road-Show.Com, an online
resource for individual investors, and Q4i.com, a financial services provider
offering an online broker resource called BrokerIQ. The two financial
services companies will use Enron,s ePoweredv Market Cast and the Enron
Intelligent Networkv (EIN) to enhance the quality and speed of content
delivery to their investors. Enron,s solution provides TV-quality streaming
video with delivery speeds up to 50 times faster than the public Internet.
&These agreements reflect the financial services industry,s need for better
and faster delivery of online content,8 said Joe Hirko, co-CEO of Enron
Broadband Services. &The Enron Intelligent Network allows visionary
companies like Road-Show.Com and Q4i.com to serve their customers with video
to the desktop that has unparalleled speed, clarity and quality.8
Road-Show.Com is a fully integrated producer of online streaming media. The
company,s Xvenuev platform offers clients a turn-key solution for
personalized live or on-demand webcast communications. Road-Show.Com broadly
streams the presentations that companies typically give on road shows prior
to an initial public offering to audiences that include individual and
professional investors.
&The Enron Intelligent Network and Market Cast technology will allow
Road-Show.Com to offer our customers something they have never had access to
before ) real-time company presentations and one of the fastest, richest
viewing experiences possible. This will enhance their ability to make fully
educated investment decisions,8 said Trey Fecteau, president of
Road-Show.Com.
Q4i.com provides &one-stop8 advanced technology solutions for financial
services companies and their clients. With its flagship product, BrokerIQv,
professional brokers and their firms have a complete broker management system
at their fingertips. Q4i.com will utilize EBS to distribute financial video
clips to clients via its BrokerCityv product. In addition, Enron will
deliver Q4i.com,s live and on-demand streaming video clips of golf resorts,
golf courses, golf real estate, equipment and golf travel for Internet users
around the world through GolfTVv, Q4i.com,s online video network.
&Our clients now have streaming video features available on their desktops
via Enron,s network,8 said J. Frederic Storaska, chairman and co-CEO of
Q4i.com. &They not only will enjoy on-demand streaming video of financial
and golf information, but they,ll have the opportunity to take advantage of
special vacation and equipment offers reserved exclusively for our
broker-dealers.8
Enron,s ePowered Market Cast Solution
ePowered Market Cast, an application of the Enron Intelligent Network, is an
end-to-end streaming media solution for banks, brokerages and other financial
services firms. Using ePowered Market Cast, companies can enhance investor
relations, conduct virtual road shows and stream analyst presentations from
their websites. In addition, ePowered Market Cast is a powerful intranet
solution for providing real-time financial news, data feeds, training and
presentations to an internal audience. The application streams video at an
average bit-rate speed of 200 kilobits per second (kbps).
The Enron Intelligent Network is based on distributed server architecture, a
pure Internet Protocol (IP) platform and embedded software intelligence that
sets it apart from other networks. The EIN,s enhanced performance is due to
its ability to deliver streaming media content &one hop8 away from the user
at the closest EIN edge server. The result is a TV-quality viewing
experience for the user. In contrast, the public Internet,s ability to
deliver the broadband content businesses need is often hampered by packet
loss, interference and other disruptions that slow down transmission speed
and compromise the end user,s experience.
About Enron Broadband Services
Enron Broadband Services, formerly Enron Communications, Inc., is a leading
provider of high quality, broadband Internet content and applications. The
company,s business model combines the power of the Enron Intelligent Network,
Enron,s Broadband Operating System, bandwidth trading and intermediation
services, and high-bandwidth applications, to fundamentally improve the
experience and functionality of the Internet. Enron introduces its Broadband
Operating System to allow application developers to dynamically provision
bandwidth on demand for the end-to-end quality of service necessary to
deliver broadband content. Enron is also creating a market for bandwidth
that will allow network providers to scale to meet the demands that
increasingly complex applications require. A wholly owned subsidiary of
Enron Corp. (NYSE: ENE), Enron Broadband Services can be found on the Web at
www.enron.net.
About Enron
Enron is one of the world,s leading electricity, natural gas and
communications companies. The company, which owns approximately $34 billion
in energy and communications assets, produces electricity and natural gas,
develops, constructs and operates energy facilities worldwide, delivers
physical commodities and financial and risk management services to customers
around the world, and is developing an intelligent network platform to
facilitate online business. Enron,s Internet address is www.enron.com. The
stock is traded under the ticker symbol, &ENE.8 |
[IMAGE] [IMAGE]
Home | About Us | Register | Unsubscribe | June 7, 2001
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[IMAGE] |
Notice No. 01-75
March 5, 2001
TO:
All NYMEX Division Members/Member Firms
All NYMEX Division Clearing Members
All NYMEX Division Floor Traders
All NYMEX Division Operations Managers
FROM:
George Henderson, Vice President
RE:
Options Expiration Operational Procedures for the Trading Floor and Clearing
Members
________________________________________________________________
The expiration date for the April 2001 options contract for Platinum (POJ1)
is Friday, March 9, 2001.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 6:45 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:30 PM
Usual Event Time: 6:45 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:30 PM
Usual Event Time: 6:45 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:30 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 6:45 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:30 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&
refdoc=(01-75)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
Wednesday, April 25, 2001
------------------------------------------------------------
Oysters for All Tastes
1. Main Course: For Oysters, the Raw and the Cooked
2. Recipe of the Week: Spinach, Oyster and Chorizo Stew
3. Wine List: Chardonnay Finds Its Inner Finesse
4. Multimedia: The Name Game
5. NYC Restaurants: A Find, Once Found
6. Reader Discussion: How Do You Barbecue?
/----------------- Also From NYTimes.com ------------------\
Sign up for Stuart Elliott's IN ADVERTISING newsletter.
Now Stuart Elliott brings his expertise to IN ADVERTISING, a
weekly e-mail newsletter from NYTimes.com that takes a close
look at the people, campaigns and deals that are shaping the
industry. This must-read newsletter features a campaign
spotlight, WEBDENDA, and a roundup of the previous week's
advertising columns. Sign up now!
http://email.nytimes.com/email/email.jsp?0425wd
\----------------------------------------------------------/
1. Main Course: For Oysters, the Raw and the Cooked
===================================================
The iced-and-shucked variety of oysters will always have its
fans, but cooked oysters aren't just for the apprehensive
eater.
http://www.nytimes.com/2001/04/25/living/25OYST.html?0425wd
Pork Belly: Living Low on the Hog
Is it a meaty fat or a fatty meat? Either way, the tempting
pork belly shows true genius when it's cooked.
http://www.nytimes.com/2001/04/25/living/25BELL.html?0425wd
2. Recipe of the Week: Spinach, Oyster and Chorizo Stew
=======================================================
This rich, multifaceted stew is one example of what cooked
oysters can add to a dish.
http://www.nytimes.com/2001/04/25/living/253OREX.html?0425wd
-----
The Minimalist: Broiled Fish with Green Tea Salt
This Japanese preparation combines the smoky flavor of green
tea with an accent of salt.
http://www.nytimes.com/2001/04/25/living/25MINI.html?0425wd
3. Wine List: Chardonnay Finds Its Inner Finesse
================================================
Chardonnay is not only America's favorite white wine, it's
also become the whipping boy for wine lovers who see it as a
garish emblem of much that is wrong with wine today. But
quietly, some California wine producers have developed a
crisper, more lively Chardonnay, using an older style of
winemaking.
http://www.nytimes.com/2001/04/25/living/25CHAR.html?0425wd
-----
Wine Picks
Though these wines aren't known as Cult Classics yet,
they're the ones to watch for wine lovers seeking the next
big thing:
1998 Trey Marie Trutina Red Blend
$30 - A new producer from Washington State that will be on
the lips of wine collectors soon. Trutina is a red
Bordeaux-style blend that captures both finesse and power.
4 and 1/2 stars
http://www.winetoday.com/search97cgi/s97_cgi?Action=FilterSearch&SearchPage=re
sult_end.html&collection=WineTodayReviewsEnd&Filter=result_end_filter.hts&Resu
ltTemplate=result_end.hts&querytext=&wineid=19691&SUBMIT.x=28&SUBMIT.y=9
1998 Thunder Mountain Ciardella Vineyard Pinot Noir
$48 - This earthy, elegant, full-bodied Pinot Noir is a
masculine wine in touch with its feminine side.
4 stars
http://www.winetoday.com/search97cgi/s97_cgi?Action=FilterSearch&SearchPage=re
sult_end.html&collection=WineTodayReviewsEnd&Filter=result_end_filter.hts&Resu
ltTemplate=result_end.hts&querytext=&wineid=20256&SUBMIT.x=28&SUBMIT.y=9
1999 Miner Oakville Ranch Chardonnay
$35 - Combines depth and ripe fruit with touches of vibrant
acidity. Because it's so balanced, this is an ideal
Chardonnay to pair with food.
4 stars
http://www.winetoday.com/search97cgi/s97_cgi?Action=FilterSearch&SearchPage=re
sult_end.html&collection=WineTodayReviewsEnd&Filter=result_end_filter.hts&Resu
ltTemplate=result_end.hts&querytext=&wineid=19950&SUBMIT.x=28&SUBMIT.y=9
4. Multimedia: Video - The Name Game
====================================
Learn to match grape varieties and their regions.
http://208.48.26.64/eveningmagazine/09_05_00_emag.html
5. NYC Restaurants: A Find, Once Found
======================================
Virot's namesake chef, Didier Virot, is inventive, with an
antic streak. He takes risks. Some of them don't pay off.
But diners will not leave Virot feeling that they've had an
ordinary meal. (Two stars.)
http://www.nytimes.com/2001/04/25/living/25REST.html?0425wd
Take a Video Tour of Virot
http://www.nytimes.com/library/dining/042501virot-video.ram?0425wd
-----
$25 and Under: One More Would Make a Crowd
The intimate dining room at 26 Seats is just manageable, but
the French country offerings are both satisfying and a good
value.
http://www.nytimes.com/2001/04/25/living/25UNDE.html?0425wd
Find a Restaurant
http://nytoday.com/RestaurantAdvanced.html?0425wd
-----
Bar of the Week: Union Pool
Specialty drinks are the draw at this former pool-supply
store in Brooklyn full of Williamsburg charm.
http://nytoday.com/search/bin/bar?st=bar&bid=987428629916?0425wd
Find a Bar
http://www.nytoday.com/search/bin/bar?st=cat_nei&cat=NYToday%20Pick&nei=Manhat
tan?0425wd
6. Readers' Opinions: How Do You Barbecue?
==========================================
From barbecuing chicken to aerating wine, readers share
their insights and answer fellow readers' questions.
Q. How do you barbecue chicken so that it is cooked all the
way through and nicely blackened on the outside? -- kevin
cooney
A. The key to well-barbecued chicken is to manage your
heat...
Read the responses to this question and many others in:
Food and Wine Tips From Readers
http://www.nytimes.com/2001/04/24/living/24KNOW.html?0425wd
I hope you've enjoyed this email. Bon appetit!
Dan Saltzstein
Producer, Dining
New York Times Digital
[email protected]
------------------------------------------------------------
HOW TO CHANGE YOUR SUBSCRIPTION
------------------------------------------------------------
You received this message because you signed up for the New
York Times Wine & Dine Newsletter. To cancel delivery,
change delivery options, change your e-mail address or sign
up for other newsletters, see http://www.nytimes.com/email
HOW TO ADVERTISE
------------------------------------------------------------
For information on advertising in e-mail newsletters or
other creative advertising opportunities with The New York
Times on the Web, please contact Alyson Racer at
[email protected] or visit our online media kit at
http://www.nytimes.com/adinfo |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/03/2000
11:29 AM ---------------------------
Judy Hernandez on 02/03/2000 11:24:24 AM
To: [email protected]
cc:
Subject: FW: FW: For all my women friends(
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/03/2000
11:23 AM ---------------------------
From: Andrea R Guillen 01/19/2000 11:08 AM
Sent by: Andrea R Guillen
To: Maria Sandoval/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT,
Pamela Sonnier/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Rosa
Jaramillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kori Loibl/HOU/ECT@ECT,
Cassandra S Dutton/HOU/ECT@ECT, Hannah Ortiz/HOU/ECT@ECT, Chantelle
Villanueva/HOU/ECT@ECT, Alisha Guerrero/HOU/ECT@ECT, Judy
Hernandez/HOU/ECT@ECT, [email protected]
cc:
Subject: FW: FW: For all my women friends(
---------------------- Forwarded by Andrea R Guillen/HOU/ECT on 01/19/2000
11:06 AM ---------------------------
Margaret Smith <[email protected]> on 01/19/2000 10:40:58 AM
To: "'Adam'" <[email protected]>, Andrea R Guillen/HOU/ECT@ECT, "'Bill'"
<[email protected]>, "'Charlene'" <[email protected]>, "'David C'"
<[email protected]>, "'Doug'" <[email protected]>, "'Glenn'"
<[email protected]>, "'Gloria'" <[email protected]>, "'Imo Gene'"
<[email protected]>, "'Laura'" <[email protected]>, "'Lisa'"
<[email protected]>, "'Mykel'" <[email protected]>, "'Olivia'"
<[email protected]>, "'Paula'" <[email protected]>, "'Ruth'"
<[email protected]>, "'Stephani'" <[email protected]>, April Leger
<[email protected]>, Dianna Bailey
<[email protected]>, Dayna Dryden
<[email protected]>, Janet Price
<[email protected]>, Beth Friend
<[email protected]>, Velma Birks
<[email protected]>, Vickie Tonn
<[email protected]>
cc:
Subject: FW: FW: For all my women friends(
> >> From a woman who works in a police department:
> >>
> >>
> >> I have to share some things I have learned in my job
> >> with you.
> >>
> >> In my job, I review criminal and psychiatric files of
> >> imprisoned sex offenders who are approaching their
> >> release date. I decide if they are likely to re-offend
> >> based on certain criteria and then civilly commit them
> >> to a sex offender treatment facility if I decide that
> >> they are at significant risk to re-offend
> >>
> >> I have read hundreds and hundreds of files, and have
> >> taken note of some of the mistakes women make. Let me
> >> preface this by saying that a woman is NEVER EVER EVER
> >> at fault for being raped or attacked, but there are
> >> definitely ways to reduce your risk of being a victim.
> >>
> >> Here are the most common mistakes women make that
> >> could result in them getting kidnapped, attacked,
> >> and/or raped:
> >>
> >> 1. Getting into the attacker's car when he pulls a
> >> gun and orders you to get into his vehicle.
> >>
> >> Most attackers don't want to shoot you ... they want
> >> you to get into the car so that they can drive you to
> >> a deserted place and torture you. Don't comply. Run
> >> screaming. It is MUCH more likely than not that he
> >> will just move on to an easier target.
> >>
> >> 2. Pulling over when a man drives alongside of you
> >> pointing at your car pretending something is wrong.
> >>
> >> If this happens, drive to the nearest well-lit and
> >> populated gas station and look the car over yourself
> >> (or ask an attendant). Never pull over. Believe it
> >> or not, many women have fallen for this for fear of
> >> their car spontaneously exploding in the middle of the
> >> road. Not likely.
> >>
> >> 3. Not locking your doors while driving.
> >>
> >> I have read several cases where the attacker simply
> >> walks up to a woman's car while she's at a traffic
> >> light and jumps in with his gun or knife drawn.
> >>
> >> 4. Opening your front door when you have not
> >> positively identified who is there.
> >>
> >> If you don't have a peep hole, get one. I've seen
> >> countless cases where the attacker gains access to his
> >> victims simply by knocking on their door.
> >>
> >> Don't let an attacker get into your home. He then has
> >> a private, relatively soundproof place to attack you.
> >>
> >> 5. Not being alert in parking lots.
> >>
> >> If you go to the grocery store at night, don't be shy
> >> about asking for an escort to your car. Too many
> >> women are abducted from parking lots or even raped in
> >> the parking lot.
> >>
> >> Look in your back seat before entering your car. Cars
> >> provide endless hiding places for attackers, both
> >> inside them and in between them.
> >>
> >> Be aware of your surroundings by looking to the left
> >> and right and behind you with your head up all the
> >> time. You may appear paranoid and look funny to
> >> others, but an attacker will think twice about
> >> approaching someone who appears so aware of what's
> >> going on.
> >>
> >> 6. Trusting a clean cut, honest looking stranger.
> >>
> >> I see mug shots of every sex offender in the state of
> >> Florida. They do not look like monsters. They often
> >> look like they could be your friendly grocer, bank
> >> teller, waiter, neighbor, clergy, doctor, etc. They
> >> are every age between 15 and 90, and probably beyond.
> >> Only a small minority actually look scary.
> >>
> >> I just read a case yesterday of a man with only one
> >> leg who beat up his victim with his crutch before he
> >> raped her. Who would have ever thought that a
> >> one-legged man could be a rapist?
> >>
> >> 7. Trusting people to be alone with your children.
> >>
> >> This is a difficult one, because child molesters end
> >> up being the LAST person the parents would believe is
> >> the molester.
> >>
> >> Most of the child molesting cases I see involve the
> >> stepfather, the uncle, the sister's boyfriend, the
> >> mother's boyfriend, the grandfather, the baby-sitter,
> >> the neighbor, the family friend, the youth camp
> >> director, day care worker, etc. Although rare, even
> >> women can be molesters.
> >>
> >> In every case, the perpetrator is a nice guy,
> >> trusting, good with children, and the family is
> >> baffled or even in disbelief that the person could be
> >> abusing their child.
> >>
> >> When it comes to your children and grandchildren, be
> >> suspicious of everyone, no matter who they are. And
> >> pay attention to what your child says and how he/she
> >> reacts to the mention of different people in their
> >> lives.
> >>
> >> I didn't mean to make anyone uncomfortable with this,
> >> but I am at work right now reviewing files, and
> >> realized that this email is a way I can reach many
> >> women at one time. I have the dirty job of reading
> >> all these files, and it makes me feel good to know
> >> that I can share some inferences from what I have
> >> learned. This is not an exhaustive list of what not
> >> to do, but just some things that I have observed more
> >> than just a few times.
> >>
> >> Pass this on to the women in your lives
> >
> >
> >
> >
> >
> >
> >
> > |
Excuses, Excuses the reason you lost was that your team scored less points than the team you were playing. It's that simple. Anyway as for dinner, what about staying downtown and meeting around 6:45 pm, if that's too late we can meet earlier. The only thing I know that is healthy is Sushi, which isn't my favorite but I'd go if that's a big thing for you. Or, we can come up with other ideas, I'm wide open. I'll eat anything except for Thai.
The lady I'm dealing with at Petrogulf is clueless. The guy I used to deal with is gone and she is new to this area of the business. Since I'm so nice and receptive to her feelings, I decided to help. But I'm sure you already know this about my personality. I'm really not trying to BS you with my emotional side. I will tell her I can buy the gas into Questar, if you believe that to be the case. All those other delivery points need processing arrangements. Don't tell Richard Stewart anything about this conversation or YOUR buying dinner!
-----Original Message-----
From: Karen L. Taylor [mailto:[email protected]]
Sent: Tuesday, October 16, 2001 10:53 AM
To: Lucci, Paul T.
Subject: RE:
Paul,
The A&M game was tragic. My friend Tim and I went to watch it at a sports
bar and, needless to say, I was the only Aggie fan in the crowd. We had a
chance to tie it or win it in the last two minutes. We had driven the ball
from our own 9 yard line to about the CU 30 yard line. We had a first down
and were going for it when we fumbled ($%&*!!) and they took it back for a
touchdown. The waitress felt sorry for me and bought us a shot of I don't
even know what. I'm headed to Texas in a couple of weeks to see the Aggies
Beat the Hell Outta Iowa State at Kyle Field. I haven't been to Kyle Field
in ages so I'm really looking forward to it.
Petrogulf's agreement indicates they have access to all major delivery
points except Opal until the expansion is in place. These other points
would include QGM, MGR, OTTCO and QPL. It's a bit curious to me that they
would have QPL and OTTCO now since they have to go down the 20" to get
there. Seems like these would be in the same boat with the Opal option, so
maybe this is not a true, current option. Can't Petrogulf tell you this
stuff? It's not my place to do it, and the only reason I am is because
you're going to drop a large sum of money taking me out to dinner
(kidding!!).
As for dinner, yes I'm still available. As for the place, don't feel like
you need to drop a bunch of cash (although cash is thrilling, isn't it??).
I'm happy eating just about anything. I'm trying to be on a new health
kick, so healthy fare sounds appealing. My only condition is that I can't
stay out late because I have a 5:30am appointment at the gym with my
trainer Thurs. am. It's brutal. I leave the house at 5am. Want to stay
downtown or venture out?
kt
"Lucci, Paul
T." To: "Karen L. Taylor" <[email protected]>
<Paul.T.Lucci@ cc:
enron.com> Subject: RE:
10/16/01 08:30
AM
Hello,
I'm back in the office today. Well I see you have to eat crow! I
didn't get a chance to watch the game but I saw CU play Kansas St. and
CU looked good. I even think CU has a good chance of beating UT in
Austin this weekend.
As far as Petrogulf goes, in the mean time before the great expansion,
do they have the right to go to Questar or any other interstate pipeline
delivery points. I think they can take their gas in kind at
Questar/Bird Canyon, but I'm not sure.
And finally, are you still available for dinner Wednesday night. I just
got paid so I'm looking to take you some place nice. Yes, I am bribing
you!
Paul
-----Original Message-----
From: Karen L. Taylor [mailto:[email protected]]
Sent: Friday, October 12, 2001 5:48 PM
To: [email protected]
Subject:
Paul,
Once the expansion is completed (in the next couple of months),
Petrogulf
will have access to all delivery points off Jonah. They currently don't
have access to Opal. I think that's all the super secret information I
can
divulge.
Hope you have a great weekend. I have a small wager with Shari Wojta
that
the Fightin' Texas Aggies will Beat the Hell Outta CU tomorrow. Hope I
don't have to eat crow.
See you next week.
kt
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of
the intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply to Enron Corp. at [email protected] and delete
all copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
********************************************************************** |
Homan, please print this memo and the attachment so we can review. Thanks
Cindy
---------------------- Forwarded by Cindy Horn/LON/ECT on 16/05/2001 09:02
---------------------------
From: Rein amund Schultz/Enron@EUEnronXgate on 15/05/2001 07:14 GDT
To: Cindy Horn/LON/ECT@ECT
cc:
Subject: FW: Access PowerDesk & EDM (Enron Data Manager)
;-----Original Message-----
From: ; Schultz, Rein-Amund;
Sent:;; 14 May 2001 10:35
To:;;;; Horn, Chris
Cc:;;;; Lien, Thor; Kristiansen, Hein; Branem Hansen, Trond
Subject:;;;;;;; Access PowerDesk & EDM (Enron Data Manager)
PowerDesk:
For further description of the different roles Trond will probably have more
information.
EnronUserName;;;;;;; Administrator NormalUser ReadOnlyUser PLReportUser
MTMApprover
-------------------- ------------- ---------- ------------ ------------
-----------
abartary;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
acoll1;;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
akirk;;;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; N;;;;;;;;;;; N;;;;;;;;;;; N
banderse;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
blokken;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
CFindlay;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
cviejou;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
dhardy;;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
eseidel;;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
fflykt;;;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
gartmann;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
hkleven;;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; Y
jpatel1;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
kasklund;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; N;;;;;;;;;;; N
kurdahl;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
LAlfarru;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
Landerss;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
mlarsson;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
ncornish;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
OAgdeste;;;;;;;;;;;; Y;;;;;;;;;;;; N;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; Y
ofacih;;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
Pbekkest;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; Y
pmaley;;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; N;;;;;;;;;;; N;;;;;;;;;;; N
prichter;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
psymons;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
pyoxall;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
randerse;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
rhareton;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
sbain;;;;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
sschumac;;;;;;;;;;;; Y;;;;;;;;;;;; N;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
stenngre;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
tbranemh;;;;;;;;;;;; Y;;;;;;;;;;;; N;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; Y
tlien;;;;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
trickett;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; N;;;;;;;;;;; N;;;;;;;;;;; N
tulset;;;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
vmortens;;;;;;;;;;;; N;;;;;;;;;;;; N;;;;;;;;; Y;;;;;;;;;;; Y;;;;;;;;;;; N
YTakei;;;;;;;;;;;;;; N;;;;;;;;;;;; Y;;;;;;;;; N;;;;;;;;;;; Y;;;;;;;;;;; N
EDM:
Analyst & controllers have full access to timeseries they own (in the DB they
have the role in).
Read to others timeseries.
Administartors:
Full access (in the DB they have the role in).
Physical data (meter values etc) are located in database
ndr_core_oslo_physical
Nord Pool data, weather data, etc are located in database
ndr_core_oslo_trading
For furher information please contact Hein Kristiansen.
<<edm_access.xls>>
Rein |
Hello again,
If these contracts are going to be assigned immediately to Mitsui, isn't the
issue of a guaranty a Mitsui issue? Is this addressed in the EPC contracts?
If an Enron entity must give a guaranty, I would think we would want ENA to
give it, to be replaced by a Mitsui guaranty unless we have some safeguard
against the possibility of paying Mitsui and Mitsui not paying GE, so that we
would have to pay twice.
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/12/2000 01:31
PM ---------------------------
[email protected] on 06/12/2000 01:06:56 PM
To: [email protected], [email protected]
cc: [email protected], [email protected]
Subject: RE: Tax Language Changes to On/Off Shore Contracts for Vitro
Brian,
Thanks. The changes to the on & off-shore contracts are OK.
I have replied to an e-mail from Kay concerning the "letter agreement", of
earlier today. As far as I am concerned, we are ready to go there (you were
copied).
Kay indicated that the consolidation agreement would be today's focus of
attention. I have not seen any feedback pursuant to my 1/Jun/00 e-mail.
<<Enron Monterrey/Vitro>>
Your comment about the parent company guaranty reminds me that the above
e-mail also called for such a guaranty from Enron, as Enron NA is no longer
the purchaser.
Regards,
Jeff Smith
-----Original Message-----
From: Brian D Barto [mailto:[email protected]]
Sent: Monday, June 12, 2000 11:10 AM
To: [email protected]; Kay Mann; Jeff Blumenthal
Cc: [email protected]
Subject: Tax Language Changes to On/Off Shore Contracts for Vitro
<< File: VITRO5-on-r1e.wpd >> << File: VITRO5-off-r1e.wpd >>
Jeff: I have picked up the changes to Section 5.2.2 per the email exchange
by
Tim and Jeff B.
Please note that Jeff B. condition that a parent guarantee be provided has
been
picked up in Section 3.7 and Exhibit C-1 has been modified to show General
Electric Company as the parent.
These are the final versions to date:
(See attached file: VITRO5-on-r1e.wpd)(See attached file:
VITRO5-off-r1e.wpd)
Jeff Smith: PS Kay Mann said she would close up the Consolidation
Agreement
discussions with you too.
-----
Sender: [email protected]
To: [email protected]
Cc: [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected]
Subject: Enron Monterrey/Vitro
Date: Thu, 1 Jun 2000 23:09:27 -0400
Importance: high
X-Priority: 1
X-Mailer: Internet Mail Service (5.5.2651.58)
Brian,
Here are my comments on several items.
* The consolidation agreement.
* In 1.b, thanks for reflecting the GE suggestion. However, near the
end of the paragraph, the word "remedy" should move to immediately after
"exclusive".
* In 8, the reference should be to paragraph 10.a, not 11.a.
* In 10.a, it does not look like the wording in my 30/May/00 e-mail
was picked up.
* In 12 and 13, Enron has added new wording since the preceding
issuance of this document.
* In 13, is all of this wording necessary and applicable. At the end
of the first long sentence, the word "turnkey" is used. Of course, this is
an equipment supply contract for GE.
Also, I believe the contracts do state what is in GE
scope via clauses 1.27, 1.86 and 3.1. So, the last sentence is redundant.
* More importantly, these two clauses could be interpreted as
establishing a GEPS/GEIOC consortium. This is something GE had advocated as
the approach in as single contract for tax purposes in Mexico. GE can still
go either way, although the single document approach is more straightforward
(and that is what we initialed in your offices last month). Enron wanted
split contracts. These clauses may undo what Enron was attempting to
achieve in this regard.
* In 14, which has been added by Enron in the latest version of the
consolidation agreement, the GE entities seem to be prevented from getting
an extension of time under one contract if there is a problem with
performance under the other. This is contrary to the words in the former
Enron clause 5, which has now been eliminated. This clause 14 should be
removed.
* Regarding the "swap" payments for tax purposes, to benefit both
Enron and GE:
* The amount paid to date on the Monterrey unit, under the MOU, is
$25,101,733. What GE proposes it to:
* Revise the payment schedule for the contracts such that payments
totaling this amount are due 2-3 days after contract signing.
* Execute a separate letter, to be signed at the same time as the
contracts, formally dissolving the MOU. The letter would call for GE to
refund this same amount 2-3 days after receipt of the payment under the
contracts.
We need to draft this letter, which will
hopefully be one page. The text of such a letter could include the
following wording:
"Pursuant to clause 30.3 of the now executed
On and Off Shore contracts for this project, the MOU dated ______ is made
null and void. Once the initial payment(s) called for in said contracts
have been made, the monies in the amount of $25,101,733.00, which were paid
under the MOU will be refunded to (Enron entity)."
* This would get the monies to the appropriate Enron and GE entities.
In a related matter, since the legal Enron entity has
changed, GE requests a parent guarantee (using form already shown in the
contract(s)).
Regards,
Jeff Smith
-----Original Message-----
From: Brian D Barto [mailto:[email protected]]
Sent: Wednesday, May 31, 2000 11:01 AM
To: [email protected]; Kay Mann
Subject: Consolidation Agreement
<< File: Mac Word 3.0 >>
Kay and Jeff:
Please review and comment. Kay's comments are included and do not look
unreasonable. Jeff please edit this document and send back to Kay and I to
see
what you are thinking about in the clause that used to be 11, now 10, I
think.
(See attached file: GE Vitro WRAP rev 2.doc) |
Thanks.
-larry
---------
Lawrence A. Ciscon Enron Broadband Services, Inc.
VP Software Architecture 4828 Loop Central Dr. Suite 600,
Phone: (713)669-4020 Houston TX 77081
[email protected]
Jeff Youngflesh@ENRON
11/29/00 05:07 PM
To: Larry Ciscon/Enron Communications@ENRON COMMUNICATIONS
cc: Jennifer Stewart/NA/Enron@Enron, Kim Godfrey/Enron Communications@Enron
Communications
Subject: RE: Enron / Avaya meetings: calendar
Larry,
Thank you for getting back with me. To answer your question: It is looking
more and more like the week of January 8th. The meetings would be held using
approximately 1.5 days of a 3-day window: the 9th, 10th, and 11th. I have
input from Kim Godfrey, who is driving things on the EBS side, and I have a
tentative OK from Avaya for the window of the 9th - 11th.
I will want to begin getting headcount of the EBS travelers, and the day(s)
which each would be attending. For example, you would probably attend both
days, while some of your team would be there exclusively for the 2nd day
meetings. I'm not sure Jim Crowder would be at both days, but Kim G.
certainly would, as would members of her origination team, including Systems
Engineer(s).
I will call you this week to get your input re: who from your team would be
going, and for which days.
Thank you,
Jeff
Jeff Youngflesh
Director, Business Development
Global Strategic Sourcing
Enron Corp.
333 Clay Street, 11th Floor
Houston, TX 77002
t: 713-345-5968
f: 713-646-2450
c: 713-410-6716
Larry Ciscon@ENRON COMMUNICATIONS
11/27/2000 08:31 PM
To: Jeff Youngflesh/NA/Enron@ENRON
cc:
Subject: RE: Enron / Avaya meetings: calendar
Jeff,
What's the current plan on this meeting? I agree that January would be a much
better time to meet, but I could also consider the December dates.
-larry
---------
Lawrence A. Ciscon Enron Broadband Services, Inc.
VP Software Architecture 4828 Loop Central Dr. Suite 600,
Phone: (713)669-4020 Houston TX 77081
[email protected]
Jeff Youngflesh@ENRON
11/21/00 04:45 PM
To: Everett Plante/Enron Communications@Enron Communications, Jim
Crowder/Enron Communications@Enron Communications, Larry Ciscon/Enron
Communications@Enron Communications
cc: Jennifer Stewart/NA/Enron@Enron, Nancy Young/Enron Communications@Enron
Communications, Steve Pearlman/Enron Communications@Enron Communications,
[email protected], Marie Thibaut/Enron Communications@Enron Communications
Subject: RE: Enron / Avaya meetings: calendar
Mission/Purpose: Coordinate EBS Executive Calendars
for EBS' trip to Avaya HQ in Basking Ridge, NJ
This is targeted as a one-day trip for the Enron executives
Daily objectives highlighted in red, further below.
Individual items per person follow immediately:
Jim,
I have spoken w/Nancy Young, and we have penciled in
that you could possibly make the trip on December 19th,
20th, or 21st; OR January 9th, 10th, or 11th. If Larry and Everett
can also join on one of the same days you are penciled in
for, I would like to book your time for the meeting.
Larry,
I have left you a voicemail, and this note. Please let me
know ASAP which of the days that I have penciled in for
Jim Crowder's attendance would also work for you.
Everett,
I have called Marie Thibaut and left her the information on
her voicemail. Since she's out, I'll send this to you directly,
as well. Will you also let me know which days (above)
work best for you?
Steve Pearlman,
You and I have spoken, I have your availability info. Thank you.
+++++++++++++++++++++++++++++++++++++++
To clarify the purpose of the Avaya trip: the first day (only)
is for executives to investigate the following items --
1) what value can EBS deliver to Avaya for Avaya internal
use (product/service solutions, financing, etc.) EBS sell
EBS' solutions to Avaya for Avaya internal use
2) ideas for opportunities for Avaya and EBS to enter into
a "sell through/sell with" arrangement, whereby some type
of joint marketing efforts could be enjoined. EBS sell with,
and/or through the Avaya sales organization
The second day (only) would be for Avaya and EBS
development/technical staff to meet and brainstorm the:
1) results of the executive meetings' output from 1&2 above,
discuss output of day 1 meetings, & technical issues
and opportunities
and 2) what technical hurdles or opportunities exist which
could enable successful EBS efforts to sell EBS solutions
to Avaya and through Avaya or with Avaya's sales &
marketing team. Larry Ciscon may choose to attend both
days due to the nature of his mission.
++++++++++++++++++++++++++++++++++++
Please let me know as soon as you can which day or
days would work best for you to make the trip. I need to
get things coordinated with my counterpart at Avaya so
he can schedule his executives' time, and their briefing
center facility.
Thank you,
Jeff
Jeff Youngflesh
Director, Business Development
Global Strategic Sourcing
Enron Corp.
333 Clay Street, 11th Floor
Houston, TX 77002
t: 713-345-5968
f: 713-646-2450
c: 713-410-6716
----- Forwarded by Jeff Youngflesh/NA/Enron on 11/21/2000 03:56 PM -----
Jeff Youngflesh
11/21/2000 10:44 AM
To: [email protected]
cc:
Subject: RE: Enron / Avaya meetings in Basking Ridge
Thad, can you give Barbara a "hold" on this until you and I get the
people scheduled? I have just returned from a day off, and don't
have the information I needed yet. It still looks like Jan 8-9 may be
leading date candidates, with the 19/20 or 20/21 of December being
possible alternates...
Thank you,
Jeff
----- Forwarded by Jeff Youngflesh/NA/Enron on 11/21/2000 10:30 AM -----
"Korp, Barbara I (Barbara)" <[email protected]>
11/20/2000 01:22 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Enron / Avaya meetings in Basking Ridge
Jeff,
I'm in the process of booking the Avaya Briefing Center and need to know how
many people from Enron will be visiting our headquarters. I've asked for
the afternoon of December 13th and all day on the 14th.
Barb
Barbara Korp
Avaya Inc.
Assistant to Serge Minassian
908-953-3771
908-953-3772 (fax)
[email protected] |
What case is this and why is it still in front of Whaley?
-----Original Message-----
From: [email protected]@ENRON [mailto:[email protected]]
Sent: Monday, September 10, 2001 12:13 PM
To: [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; Sanders, Richard B.; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; [email protected]; Williams, Robert C.; [email protected]
Cc: [email protected]
Subject: Campbell Hearing
There was telephonic oral argument today before Judge Whaley on the filed
rate issues in Campbell v. SDGE. It went very well. Judge Whaley began by
asking Campbell to argue first, since "It seems to me you're flying in the
face of the filed rate doctrine." The bulk of the argument focused on two
issues: (1) what if anything is the effect of FERC's inability to issue
retroactive rate relief, and (2) (to a much lesser extent) how a class
action based on SDGE customers only avoided the discrimination prong of the
doctrine. Campbell's argument was ineffective, consisting mostly of his
preferred social policy rather than any law. His most substantive argument
was that filed rate was based on a res judicata-like theory, and since
market-based rates are not passed on by FERC before they go into effect, and
can't changed be retroactively, resort to the courts was appropriate.
I was not asked any specific questions at first, but was rather just asked
to respond. I began by advising the court of the July 25th order in which
FERC held that filed rate applied to these market-based rates, then
discussed Norwood, then addressed the res judicata analogy by pointing to
the cases that hold that mere filing, rather than agency review, invokes the
doctrine. Whaley asked me a couple of questions about retroactive relief,
the most significant of which was along the following lines: "So what you
are saying is that if, at the end of the day, it is determined that there is
no right of retroactive relief, then that's just like a statute of
limitations or any other limitation on a right or remedy that doesn't effect
FERC's jurisdiction." I answered affirmatively, stating that the salient
point was that it was within Congress' power to decide how this type of
interstate commerce was to be regulated, and that if Congress imposed
limitations on remedies for illegal behavior, we were all bound by that. He
seemed content with that answer.
Campbell replied in an argument that was pretty close to saying, "There must
always be a remedy somewhere." Interestingly, Whaley then asked Campbell a
couple of times whether he would concede Keogh's applicability if there was
a FERC remedy. I think this was a setup, and Campbell walked into it,
basically saying yes. Whaley didn't close the trap, but it would not
surprise me if he finds that the existence of a remedy at the agency doesn't
matter, and since Campbell admits that Keogh would bar the claim if there
were a remedy, he's out of court.
Whaley took it under submission and said he would issue an order. I think
he'll rule very narrowly, stressing that Campbell's is a claim under the
FPA. I tried to broaden his thinking, arguing that we ought not allow every
plaintiff to attempt to reinvent the regulatory system by dreaming up every
manner of legal attack on filed rates, but I suspect he saw through that and
will rule narrowly. Anyway, I expect a good result.
This email may contain material that is confidential, privileged and/or
attorney work product for the sole use of the intended recipient. Any
review, reliance or distribution by others or forwarding without express
permission is strictly prohibited. If you are not the intended recipient,
please contact the sender and delete all copies. |
Forwarded from Halliburton:
Subject: Report from WTO - Part IV
INSIDE (AND OUTSIDE) THE WTO
INSIDE
Renato Ruggiero, former Director General of the World Trade
Organization (WTO) spoke at a dinner for members of the Coalition for
Service Industries on Wednesday evening. His remarks were some of the best
made during the WTO Seattle Round but were off the record and will probably
not appear in print. Among his observations were:
* 1.7 billion people residing in 30 countries are trying to get into
the WTO at this time. The WTO is regarded by many as the organization
needed to deal with the globalization in which all nations now find
themselves.
* Labor and environmental issues already have forums in which to have
their issues heard. Their problem is that nothing works as well as the WTO.
That they want to move their issues into the WTO area is not only
understandable, it is flattering.
* (Concerning the demonstrations) "As long as reason rules over
emotions in this world, the WTO will prevail. The demonstrator's goals may
be right. I don't know. But, their aim is wrong. The WTO should not be
their target."
* The demonstrators have had the effect of making ministers even more
determined to finish their work.
The Seattle Round has had an interesting ancillary result. Environmental
groups previously in disagreement or acting independently, have taken the
occasion of the WTO meeting to unify. Greenpeace, The Sierra Club, Friends
of the Earth, The National Wildlife Federation, and The World Wildlife Fund
have been meeting before and during the Seattle Round. Their goal is to put
a sharp focus on what they want from the WTO. As of this writing, it is not
clear if they wish to put the WTO out of business or get their issues made
part of the negotiations but the latter is more likely. What ever they
decide, the coalition of these environmentalists will be much more likely to
be heard in the future.
Prior to the President's arrival, agriculture and other difficult issues
were making significant headway towards resolving differences. The
President arrived in Seattle on Wednesday amongst hopes that his visit would
have a positive effect on negotiations - but the opposite occurred. His
ability to communicate was put to good use as he spoke to all facets of the
WTO to include the demonstrators and, until he granted an interview with the
Financial Times, the best possible face was being put on WTO negotiations.
The Times article was published on Thursday, however, and it upset everyone.
In the interview, President Clinton stated that core standards on labor
should be adopted by the WTO and included in all trade agreements. If they
were not followed, they should be enforced with sanctions. Until these
remarks, the administration had maintained that only a working group on
labor should be established with the mission of analyzing links between
trade and labor. The idea of a working group was gaining steam until the
interview was published. The United States Trade Representative was rumored
to be very upset and the President's remarks met with almost universal
condemnation. Delegates from Japan and the European Union made strong
statements of disagreement as did most of the developing nations. Many see
the use of sanctions as the antithesis of the WTO's mission. There was
speculation that the remarks were made to assist Vice President Gore with
labor in his bid for the White House and that the President did not really
believe they would have any effect within the WTO. They did - and the
effect was all negative.
President Clinton made the rounds of a number of parties that evening to
include one hosted for the members of congress who had worked on the African
Trade bill. At one time, prior to the President's arrival, there were 30
members of Congress on the stage with Representative Charles Rangel (D-N.Y.)
and it was the broadest possible array of political beliefs. Individuals
representing the most liberal side of the Democrat party stood side by side
with individuals from the most conservative side of the Republican party,
all waiting for the President. When he didn't appear, the congressional
representatives left the stage and mingled with about 100 guests. It was a
lobbyist's dream! For 45 minutes, they talked, joked and lobbied while they
waited for the President. He arrived, made a predictable speech and left
the stage only to find that, for security reasons, he would have to remain
in the room awhile longer. It turned out to be one of the most festive
events of the week.
OUTSIDE
498 people were arrested as of Thursday morning. Delegates from
many countries were surprised that the arrests were so long in coming and
expressed significant displeasure with the turmoil in the streets. Third
world countries have been the most critical. Their concerns focus on
improving their economies They need infrastructure and financing before
they can worry about the plight of sea turtles in oceans that don't even
boarder their countries. Many of them do not disagree with America's basic
goals but they believe that rich countries ideals are standing in the way of
third world countries progress.
As days of disturbance continue, the humor of the demonstrations is
diminishing. What is left are hard core anarchists bent simply on
destruction. The positive side of all this is that the goodness of people
in Seattle is now beginning to show itself. King Country Councilman Brian
Derdowski took to the streets Tuesday evening, surveying the damage and
trying to mollify the crowds. He saw a man grab a sack of coffee at a
vandalized Starbucks and he approached him. Derdowski told the would-be
looter he really shouldn't take the bag of beans and the man dropped the
bag, hugged the Councilman and then walked away from the riots.
Nancy Woodland and her husband, both Seattle attorneys, saw the
violence on television on Tuesday. By Wednesday afternoon, they were in the
heart of town with Windex, Comet, SOS and elbow grease. They spent most of
the day cleaning the storefronts of other peoples businesses.
Terry Webb who owns a greeting card store, has seen his business
drop by 90%. When interviewed by a local newspaper, he simply smiled and
reached for one of his cards. He handed the reporter a card that read,
"Tough times are like speed bumps. They only slow you down for a little."
This will be my last report from Seattle.
Don
DAVE GRIBBIN
Vice President
Office of Government Affairs
Halliburton Company
1150 18th Street, N.W., Suite 200
Washington, D. C. 20036
(202) 223-0820 |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 01/26/2001
04:33 PM ---------------------------
Kristin Walsh
01/25/2001 11:23 AM
To: John J Lavorato/Corp/Enron
cc: Jeffrey A Shankman/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Vince J Kaminski/HOU/ECT@ECT, James D
Steffes/NA/Enron@Enron, Michelle D Cisneros/HOU/ECT@ECT, Jeff
Kinneman/HOU/ECT@ECT, John Greene/LON/ECT@ECT, Jaime Gualy/NA/Enron@Enron,
Phillip K Allen/HOU/ECT@ECT, Mike Grigsby/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron, Robert Johnston/HOU/ECT@ECT
Subject: California Update 1/25/01
California Timeline:
February 2nd:
The state legislature has to pass the enabling laws to let the state pay for
the electricity from auction before the current emergency money runs out on
February 2. Republican leaders have vowed to block any additional emergency
funds.
The California courts gave Edison a two-week grace period (until February 2)
on demands by the California Power Exchange that Edison forfeit $215 million
in long-term low cost power contracts to the CPX for repayment of its debt.
Governor Davis told the Court that he may absorb that contract in favor of
taxpayers using his emergency "taking" powers.
February 7th:
President Bush, who had to intervene personally against his energy secretary
to extend the Energy Department order mandating electricity sales to
California by power generators, made it abundantly clear to all sides that
the two week deadline was hard and would not be extended.
February 13th:
Edison worked out a three-week grace period -- through February 13 -- with
all of its 32 banks and QFS to prevent from asking for accelerated repayment
during that period, but if the state has not figured out a way to bridge that
debt by then, this deadline could be a real trigger for bankruptcy.
Legislation
As mentioned in Tuesday's update, legislators are close to a long-term power
buying deal with the so-called "green" producers (wind, solar, hydro, cows)
of energy, accounting for 30% of California's total energy production. This
would allow the Department of Water Resources to buy power from them at 8
cents per kilowatt hour.
Bill AB1X--the key piece of legislation for setting long-term power
contracts--is still being mulled over in the Senate, but is expected to pass
this week. The keys issues is still the price, which will probably be
revised in accordance to the results of the auction. Other legislation has
been introduced, including three bills by Boxer that would increase federal
support and impose "windfall profits tax" for wholesalers that sell power at
"unfair and unreasonable" rates. The hydro legislation is still being
bantered about, however with going opposition from both Democrats and
Republicans.
Bail out scenarios
A new scenario is a market-oriented solution that would give the state of
California "warrants" on the PG&E and Edison stock in return for lending them
the money to get out of this current mess (still the problem of financing the
$6B vs. $12B). As the stock prices recovered, the state could cash in the
warrants and rebate to electricity users some of the emergency surcharge
needed to pay back the debt. This is exactly the plan used to bail out
Chrysler in the late 1970s and it worked wonders for taxpayers then. This
senario would also provide Davis with some political cover, as the idea of
rebates are far more appealing than price increases. Lots of details remain
to be worked out, but even the consumer activist groups threatening to create
propositions on fall ballots appeared to like this deal.
Bankruptcy
Socal is close to an agreement with 32 bank creditors and QFs to allow a
forbearance on debt payments through February 13th. However, it is not
expected that the bondholders would agree to this type of deal. The
bondholders could try to force the utilities into involuntary bankruptcy, but
would probably be unsuccessful. As long as Socal continues working with
their creditors and show "good faith" any bankruptcy at this time would have
to be voluntary. As this date (Feb. 13th) fast approaches, the state will
have to take quick action and draft and approve legislation between the
governor, the generators and the utilities to prevent Socal and PG&E from
bankruptcy. As part of the forbearance agreement, Edison has contracted
with around 400 QFs and negotiations have been directed toward separating the
rate schedules of generation facilities fuelled between renewables and gas
fired generation. Socal is attempting to shift gas fired QFs to longer term
schedules in light of the recent higher gas prices.
Auction
After a nervous night when only one bid had come to the state's Internet site
by midnight on Tuesday, California officials were happy to announce that they
had almost 40 bids at an average of 6.9 cents per kilowatt-hour, below the
7.4 cent real cap state officials had set internally as the threshold between
doable and impossible. This was well above the 5.5 cent ceiling the governor
had publicly stated as the preferred level. Davis will now turn the
negotiating process over to David Freeman, who heads the Los Angeles electric
agency and is generally considered the dean of public-private utilities in
the west. One thing to note, the State of California has no intention of
any credit guarantees for the bids with the Department of Water Resources.
Several California legislators have made it very clear that they do not want
the state to be ultimately responsible for these power purchases. |
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