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You may want to review this for our meetings.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/21/2000 07:43 PM ---------------------------
Jane Wilson
02/21/2000 07:43 PM
To: Mark Schroeder@ECT
cc:
Subject: Mega power status
There may be no advantages for us in this megaproject status other than the
privilege of becoming fully regulated. However, the Ministry is considering
us and Ken Lay made big announcements to the press. After these
announcements, I pulled a team together on Dabhol strategy. The conclusion
was that now that we've made our application and annoucement (noone asked
me. See below), we must keep up the pretext of appearing to seek the mega
project status to look like we are trying to help MSEB. The consensus of
the group was that probably the whole idea of megaproject status will bite
the dust.
Unbenownst to me, a number of letters were filed (with the Ministry, with
MSEB and with CERC) requesting mega power project status. A letter was filed
with the Central Electricity Regulatory Commission (CERC) requesting that
CERC "use its good offices" to obtain this status for Dabhol. In a public
forum -- a panel that I moderated at a conference, Dr. Rao referenced this
letter as one filed by a "multinational" corporation that wouldn't have filed
it in its own country, improperly asking for the use of influence. When he
sat back down next to me, Dr. Rao leaned over and whispered that it was
Enron, that the name was Sandeep Kohli, and that he was certain I didn't know
about it. I subsequently formally requested its withdrawal, much to Rao's
relief. This was Sanjay's idea.
P.S. it's hot in Mumbai now -- about 90 degrees or so in the daytime.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/21/2000 07:37 PM ---------------------------
Jane Wilson
02/13/2000 12:32 AM
To: Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Mega power status
Here is the hand out on mega power project that I handed out in our strategy
meeting in January.
Please note that in the Monday, January 24 Business Standard it was reported
that the next tranche of mega power projects may get no tax benefits.
"The Union power ministry may not offer tax sops to the projects presently
under consideration for mega power project status.
Official sources confirmed that the new projects would not be offered
benefits like customs duties waiver, offered to the mega projects cleared
last year.
The only benefit these projects are expected to receive is sale to the Power
Trading Corporation (PTC) -- whereby the state risk on independent power
producers (IPPs is transferred to PTC. Such sops do not have a major impact
on the project's tariff, as was initially calculated.
The power ministry is considereing a proposla to accord mega status to eight
projects, including the Dabhol venture in Maharashtra.
. . . .
Sources however, said mega project status would onl be granted on the basis
of the tariff quoted by the projects under consideration.
The Union power ministry has already formed a committee which will analyse
the tariffs for these projects so as to accord them the status. They said
that the committee would be examining the tariffs in accordance to similar
project cleared by the Central Electricity Authority.
. . .
Mega power projects are large interstate power venture selling power to more
than one state through the Power Trading Corporation.
The 18 projects that have been notified as mega power projects get special
benefits in terms of the customs duty waiver and will enable te government to
obtain competitive tariffs from projects. These project also get deemed
export status wherein domestic equipment suppliers will be entititled to duty
drawback and refund of terminal excise duty."
I now have the Availability Based Tariff Order (issued prior to my being
involved in India) and will analyze it. This order will apply to mega power
projects as you see in the handout. I want to do a full regulatory analysis
for us in the next month.
Please let me know what our current strategic thinking is on the mega project
issue. I still think that this would not be to Enron's advantage. However,
being realistic, something will have to change. I just don't think
submitting ourselves to regulation by the CERC with one buyer the PTC is to
our advantage anyway. With potentially no tax advantages, what are we
thinking? However, as we discussed in the meeting, we must continue the
pretext. What happens if the dog catches the car?
On a separte subject, I know you are busy with the refocus of our development
efforts, but obviously I would like to spend some time with you with regard
to my reassignment to the India region only (at my suggestion, by the way).
Since I'm returning to the US on Thursday night, the 18th, we may have no
face time until my return the 28th. Is that right?
Is the therapy couch ready in your office? From what I hear from my perch in
the TERI forum in Agra and Delhi (now Mumbai) there is lots of doom and gloom
in the Mumbai office. Certain resumes are being prepared, and there seems to
be a general feeling that Enron will embark on a several-year wrap up/sell
down effort.
I am planning to go to the South Asia forum in Kathmandu. Even with our
refocus, it strikes me that the contacts with DOE and Indian embassy and
Indian personnel will be most worthwhile. Let me know if you disagree.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
02/13/2000 12:12 AM ---------------------------
enron india
From: Wade Cline 02/11/2000 06:26 AM
To: Jane Wilson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Mega power status
Jane,
Please send me via e-mail or fax a copy of the note you put together and
presented a few Saturdays ago. This was the note about that had the checklist
of items required for a project to be a mega project and had the status of
DPC on each item.
Thanks,
Wade |
-----Original Message-----
From: Marvin L. Carraway [mailto:[email protected]]
Sent: Tuesday, February 27, 2001 12:39 AM
To: Reagan.Rorschach
Subject: [Fwd: Revised Draft of Entergy/MDEA Interconnection Agreement]
Return-Path: [email protected]
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Subject: RE: Revised Draft of Entergy/MDEA Interconnection Agreement
To: "Blair, Bonnie" <[email protected]>
cc: "Blair, Bonnie" <[email protected]>, [email protected],
[email protected], [email protected], [email protected],
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Sorry about that; some got the attachment but others didn't. Here it is
again. If this one fails too, please let me know and I'll have a copy
messengered over.
Thanks.
Mike Griffen
Morgan Lewis
(202) 467-7257
(See attached file: MDEA_IOA_2-25-01.doc)
"Blair, Bonnie"
<bblair@thompsonc To:
"'[email protected]'"
oburn.com> <[email protected]>,
"Blair, Bonnie"
<[email protected]>,
02/26/01 10:08 AM [email protected],
[email protected],
[email protected]
cc: [email protected],
[email protected],
[email protected]
Subject: RE: Revised Draft
of Entergy/MDEA
Interconnection Agreement
Hi, Mike - - I received your e-mail, but the revised draft agreement was
not
attached, just two versions of your cover note. Please resend. Thanks.
Bonnie
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Sunday, February 25, 2001 9:00 PM
To: [email protected]; [email protected];
[email protected]; [email protected]
Cc: [email protected]; [email protected]; [email protected]
Subject: Revised Draft of Entergy/MDEA Interconnection Agreement
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- MDEA_IOA_2-25-01.doc |
Gerald, this is just to follow up on the voicemail message I left for you
this afternoon. Can you please provide me with contact information for reps
from both Louisiana Resources and Bridgeline. The transfer of control
applications to be filed with the FCC require signatures from reps from both
parties to the transaction. We will need this info before we can file the
applications. Any help you can provide would be greatly appreciated.
Thanks.
-----Original Message-----
From: Jenkins, Eric
Sent: Wednesday, November 21, 2001 12:33 PM
To: '[email protected]'
Cc: [email protected]; Pisciotta, Aileen
Subject: RE: Louisiana Resource License information
Thanks Gerald, this info is helpful. Do you know who owns the other 60%
equity interest in Bridgeline, and how the LP is structured to give Enron
50% control with only 40% interest?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, November 21, 2001 11:32 AM
To: [email protected]
Cc: [email protected]
Subject: RE: Louisiana Resource License information
Eric, The answers to your questions based on the information I have are:
1. The transaction closed on February 3, 2000.
2. All the licenses that you fowarded for Louisiana Resources are
currently being used by Bridgeline Holdings, L.P.
3. I don't know. I don't think that any of the licenses were new
after the transaction date. Robert, any different info?
4. To the best of my knowledge all of the licenses (that you
forwarded) are operating and were operating at the time of the transaction.
Do you agree, Robert?
To clarify, the assets were not sold to Bridgeline Holdings, L.P. They
were contributed to the formation of the LP in consideration for Enron's
40% equity stake and 50% control. No transfer applications for these
licenses has been filed.
Also, it is not clear from the information you forwarded whether the
licenses were in Louisiana Resources Company's (LRC) name or Louisiana
Resources Pipeline Company Limited Partnership (LRP). LRP was merged into
Bridgeline Holdings, L.P. LRC is still held 100% by Enron North America
Corp.
-----Original Message-----
From: "Jenkins, Eric" <[email protected]>@ENRON
Sent: Tuesday, November 20, 2001 7:46 PM
To: Nemec, Gerald
Cc: Pisciotta, Aileen
Subject: RE: Louisiana Resource License information
Gerald, this is just to follow up on our prior phone conversations re:
the
sale of Louisiana Resources' assets (including licenses) to Bridgeline .
As
I mentioned, what is important to our inquiry is whether transfer of
applications were filed prior to the consummation of the above
transaction
whereby the assets of Louisiana Resources' were acquired. I will need
the
following transaction information:
* When did the transaction close? The exact date. 2/?/2000
* Which licenses where part of that transaction?
* Which licenses were obtained by filing a new application after the
transaction date?
* Which stations are constructed/operating?
As a reminder, we are under a deadline to get this information to the
FCC.
To make the deadline I will need the information by tomorrow or Monday
at
the latest. Please call/email with any questions.
Thanks and have a Happy Thanksgiving.
> -----Original Message-----
> From: Jenkins, Eric
> Sent: Thursday, November 15, 2001 5:41 PM
> To: '[email protected]'
> Subject: Louisiana Resource License information
>
>
>
> << File: 162802.doc >>
>
> ________________________________________
> Eric D. Jenkins
> Kelley Drye & Warren LLP
> 1200 19th Street, N.W., Fifth Floor
> Washington, D.C. 20036
> (202) 887-1254
> (202) 955-9792 (facsimile)
> email: [email protected]
>
>
>
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damage arising in any way from its use. |
------------------------------------------------------------------------------------------------------
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] |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 05/04/2000
11:06 AM ---------------------------
Regina Blackshear@ENRON
05/04/2000 09:51 AM
To: [email protected], [email protected],
[email protected], Yolanda Clay<[email protected]>,
[email protected], Loneta Edison<[email protected]>, Tammy Green
<[email protected]>, [email protected], "R Jordan"<[email protected]>,
[email protected], "WhiteBL(Barbara)"<[email protected]>,
Eve Puckett/Corp/Enron@ENRON, Christopher Hargett/HOU/ECT@ECT, Amber
Limas/HOU/EES@EES, Deborah Darnell/Corp/Enron@ENRON, Leslie
Smith/HOU/ECT@ECT, Tharsilla Broussard/HR/Corp/Enron@ENRON, John
Whiting/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT, Judy Walters/HOU/ECT@ECT,
Pamela Mitchell/HOU/ECT@ECT, Sandra R McNichols/HOU/ECT@ECT, Shirlet
Williams/HOU/EES@EES
cc:
Subject: Fwd: Let's Pray Together . .
Say this prayer before you start your day. I Love You. God Bless You
---------------------- Forwarded by Regina Blackshear/Corp/Enron on
05/04/2000 09:43 AM ---------------------------
Shelly Peters <[email protected]> on 05/01/2000 07:41:22 PM
To: [email protected]
cc:
Subject: Fwd: Let's Pray Together . .
Note: forwarded message attached.
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From: shelley mc <[email protected]>
Subject: Fwd: Let's Pray Together . .
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Date: Fri, 7 Apr 2000 09:21:48 -0700 (PDT)
From: Taryna Nedd <[email protected]>
Subject: Fwd: Let's Pray Together . .
To: [email protected], [email protected]
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> >>>>> >> > > > Those who that Pray together, stay
> together. Let us
> >>>>> >> > > > > pray...
> >>>>> >> > > > >
> >>>>> >> > > > >
> >>>>> >> > > > > Dear Lord,
> >>>>> >> > > > > I thank You for this day.
> >>>>> >> > > > >
> >>>>> >> > > > > I thank You for my being able to
> see and to hear this
> >>>>> >> > > > > morning.
> >>>>> >> > > > > I'm blessed because You are a
> forgiving God and an
> >>>>> >> > > > > understanding God. You have done
> so much for me and
> >>>>> >> > > > > You keep on blessing me.
> >>>>> >> > > > > Forgive me this day for I have
> sinned. I ask now for
> >>>>> >> > > > > Your forgiveness.
> >>>>> >> > > > > Keep me safe from all danger and
> harm. Let me start
> >>>>> >> > > > > this day with a new attitude and
> plenty of gratitude.
> >>>>> >> > > > > Let me make the best of each and
> every day and give my
> >>>>> >> > > > > best in all that is put before me.
> Clear my mind so
> >>>>> >> > > > > that I can hear from You. Broaden
> my mind that I can
> >>>>> >> > > > > accept all things.
> >>>>> >> > > > > Let me not whine and whimper over
> things I have no
> >>>>> >> > > > > control over. Let me continue to
> see sin through God's
> >>>>> >> > > > > eyes and acknowledge it as evil.
> And when I sin, let
> >>>>> >> > > > > me repent, and confess my wrong
> doing, and receive the
> >>>>> >> > > > > forgiveness of You, God. And when
> this world closes in
> >>>>> >> > > > > on me, let me remember Jesus'
> example -- to slip away
> >>>>> >> > > > > and find a quiet place to pray.
> It's the best
> >>>>> >> > > > > response
> >>>>> >> > > > > when I'm pushed beyond my limits.
> >>>>> >> > > > >
> >>>>> >> > > > > I know that when I can't pray, You
> listen to my heart.
> >>>>> >> > > > > Continue to use me to do your
> Will. Continue to
> >>>>> >> > > > > bless me that I may be a blessing
> to others. Keep me
> >>>>> >> > > > > strong so that I may help the weak.
> Keep me uplifted
> >>>>> >> > > > > so that I may have words of
> encouragement for others.
> >>>>> >> > > > > I pray for those that are lost and
> can't find their
> >>>>> >> > > > > way. I pray for those that are
> misjudged and
> >>>>> >> > > > > misunderstood. I pray for those
> who refuse to share a
> >>>>> >> > > > > word from You.
> >>>>> >> > > > > I pray for those that will read
> this and not use this
> >>>>> >> > > > > in their lives.
> >>>>> >> > > > >
> >>>>> >> > > > > I pray for those that will delete
> this without sharing
> >>>>> >> > > > > it with others.
> >>>>> >> > > > >
> >>>>> >> > > > > I pray for those that don't
> believe.
> >>>>> >> > > > > But I believe. I believe. I
> believe that God has the
> >>>>> >> > > > > "power" to change people and
> things.
> >>>>> >> > > > >
> >>>>> >> > > > > I pray for all my sisters and
> brothers. This is my
> >>>>> >> > > > > prayer; I pray in Jesus' name.
> >>>>> >> > > > >
> >>>>> >> > > > > Amen.
> >>>>> >> > > > > HAVE A BLESSED DAY!!!
> >>>>> >> > > > >
> >>>>> >> > > > > Work for the Lord.... the
> retirement benefits are out
> >>>>> >> > > > > of this world!
__________________________________________________
Do You Yahoo!?
Talk to your friends online with Yahoo! Messenger.
http://im.yahoo.com |
Daren,
Deal 93481 expired 12/31/99, is there a new deal to replace it.
---------------------- Forwarded by Sherlyn Schumack/HOU/ECT on 02/16/2000
04:48 PM ---------------------------
Fred Boas
02/16/2000 04:46 PM
To: Sherlyn Schumack/HOU/ECT@ECT
cc:
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
To: Fred Boas/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
Done.
Thanks, Stella
Fred Boas
08/20/99 06:53 PM
To: Stella L Morris/HOU/ECT@ECT
cc: Howard B Camp/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
Stella:
I set up the accounting arrangement on the HPLR transport contract
012-64610-02-052 for January through June per Daren's instructions below.
The tracking ID for all 6 months is 34500.
I also set up accounting arrangement on the HPLC transport contract
012-41500-02-015 for July per Daren's instructions below. The tracking ID
for July is 34501. If you would, please put the transport contract in POPS
on Monday morning and call me when your done so that I can reallocate the
meters. I need to call Copano to tell them that their payment is on the way.
I need the transport contracts, HPLR and HPLC put in for all 31 days of each
of the respective months.
As always thanks in advance for your help,
Fred
Daren J Farmer
08/20/99 04:50 PM
To: Fred Boas/HOU/ECT@ECT
cc:
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
Fred,
I had the typed the deal numbers incorrectly. July forward is on 93481.
January-June is on 69176.
Daren
Fred Boas
08/20/99 12:56 PM
To: Daren J Farmer/HOU/ECT@ECT, Stella L Morris/HOU/ECT@ECT
cc: Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT, Charlene
Richmond/HOU/ECT@ECT
Subject: Copano Line Gain Contract Needed at Meter 5310
Daren:
I looked in Path Manager and I see two deals - 93480 and 93481, but I don't
see deal 69176 for July forward that you mentioned below. Also, please
verify that the deal for January through June is 93481 and if the 69176 deal
is correct for July forward.
Stella:
I will need to set up accounting arrangements for these deals from January
forward. From Daren's note below it appears that for January through June I
will need an HPLR transportation contract put in POPS. When Daren and I get
the deal number issue resolved for July forward I will need an HPLC contract
put into POPS. Also for July forward, I will need the HPLC contract in POPS
every month through December to allocate Copano line gain to if it occurs.
Thanks to both of you,
Fred
Daren J Farmer
08/19/99 11:16 AM
To: Fred Boas/HOU/ECT@ECT
cc: Stella L Morris/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT, Howard B
Camp/HOU/ECT@ECT, Charlene Richmond/HOU/ECT@ECT
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
Fred,
I have pathed the purchase from Copano for 1999 in MOPS. Jan-Jun is under
HPLR (Sitara 93481). July forward is under HPLC (Sitara 69176). I
understand that I cannot renom this to the pipe for prior months, because the
callout allocations will be affected. So, you will need to set up accounting
arrangements to get the nom into POPS.
Let me know if you have any questions.
Daren
Fred Boas
08/19/99 08:01 AM
To: Stella L Morris/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT
cc: Robert E Lloyd/HOU/ECT@ECT, Howard B Camp/HOU/ECT@ECT, Charlene
Richmond/HOU/ECT@ECT
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
Stella/Daren:
What is the status of this request? Please let me know when I can reallocate
this meter, the customer has not been paid for 3 months and is complaining.
Fred
To: Robert E Lloyd/HOU/ECT@ECT
cc: Fred Boas/HOU/ECT@ECT, Mary M Smith/HOU/ECT@ECT
Subject: Re: Copano Line Gain Contract Needed at Meter 5310
Thanks for your help Robert.
Thanks again, Stella
From: Robert E Lloyd 08/12/99 04:29 PM
To: Stella L Morris/HOU/ECT@ECT
cc:
Subject: Copano Line Gain Contract Needed at Meter 5310
fyi
---------------------- Forwarded by Robert E Lloyd/HOU/ECT on 08/12/99 04:29
PM ---------------------------
Lauri A Allen
08/12/99 04:02 PM
To: Daren J Farmer/HOU/ECT@ECT
cc: Fred Boas/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT
Subject: Copano Line Gain Contract Needed at Meter 5310
Daren- FYI. There are deal tickets in Sitara to cover this transaction-
#69176 for HPLR and #93481 for HPLC- but they have zero volume and were not
pathed in Unify. Could you get someone in your group to set these up for
Fred, please? Let me know if you have any questions. Thanks.
---------------------- Forwarded by Lauri A Allen/HOU/ECT on 08/12/99 03:59
PM ---------------------------
Fred Boas
08/12/99 11:19 AM
To: Stella L Morris/HOU/ECT@ECT
cc: Lauri A Allen/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Howard B
Camp/HOU/ECT@ECT, Robert E Lloyd/HOU/ECT@ECT
Subject: Copano Line Gain Contract Needed at Meter 5310
Stella:
I need the above referenced contract put into POPS for January, May, June ,
July, and August 1999 forward. I need the contract in POPS for August
forward because I never know when Copano will allocate line gain to itself.
In 1998 a spot contract was set up between HPLR and Copano Pipeline/South
Texas, L. P. with a Synergi contract number 078-62210-101 and a Global number
of 96016880 by Karen Lambert. Per Karen this old agreement was terminated by
Dan Hyvl due to HPLR business change to ECT. In 1999, when Copano began
allocating line gain to themselves again I contacted Lauri, Karen, and
yourself to see if I could get the contract in POPS. Karen sent me an e-mail
indicating that she set-up a new contract for this HPLC line gain purchase -
Global # 96022367 (I don't have a "Synergi" contract number). I know that in
3/99 Lauri contacted Bernard Widacki at Copano to discuss this issue.
I need Lauri to review this and then I need the contract to be put in POPS so
that I can correctly allocate the gas at this meter. I have not allocated
any line gain in 1999 and the volumes are small. Karen is the most
knowledgeable about this contract, so I suggest that any questions be
directed to her regarding contract issues. Karen worked with Bernard Widacki
at Copano to set up the contract originally.
Thanks,
Fred |
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 04/17/2001 03:03 PM -----
"Weller, Andrea" <[email protected]>
04/17/2001 03:01 PM
To: "'[email protected]'" <[email protected]>
cc: "'Fairchild, Tracy'" <[email protected]>,
"'[email protected]'" <[email protected]>
Subject: FW: SENATORS CALL FOR INVESTIGATION INTO EFFECTIVENESS OF FEDERAL
ENERGY REGULATION
I thought you should all be aware that this call is out there....
Andrea Weller
Market Strategist
Strategic Energy, LLC
949.230.3404
[email protected]
SENATORS CALL FOR INVESTIGATION INTO EFFECTIVENESS OF FEDERAL ENERGY
REGULATION
Senators Joe Lieberman, D-Conn., and Jean Carnahan, D-Mo., have asked the
General Accounting Office (GAO) to inquire into whether the Federal Energy
Regulatory Commission (FERC) is carrying out its responsibilities to ensure
that wholesale electricity sales throughout the country are reasonable and
that interstate natural gas pipelines are fulfilling their obligations to
customers. "Under federal law, FERC has the responsibility to ensure just
and
reasonable prices for interstate wholesale transmission," the Senators said
in a letter to GAO, "but there is mounting evidence that FERC may not have
fulfilled this role in the California situation." Following is text of the
letter:
April 12, 2001
Mr. David M. Walker
Comptroller General of the United States
U.S. General Accounting Office
441 G Street, N.W.
Washington, D.C. 20548
Dear Mr. Walker:
We have been watching with dismay as the state of California suffers
sporadic
rolling blackouts with impacts on electricity supplies and prices throughout
the western United States, a situation that may get worse this summer when
the demand for electricity increases. We understand that there are many
factors that have contributed to the current situation, and few short term
options to create more electricity for this market. At the same time we are
extremely troubled that California's Independent System Operator (ISO)
recently asserted that suppliers of electricity in California have allegedly
been charging many times more than what it actually costs to generate the
electricity, an overcharge amounting to $6.8 billion according to the
operator. Some experts believe that these high prices reflect a
non-functioning market that has, in turn, exacerbated the state's
electricity
shortage.With the possibility of electricity deregulation occurring soon in
additional states such as Missouri, we are concerned whether there is
adequate federal oversight to guard against potential abuse of market power
by suppliers. Without such oversight, the nation may not progress towards
achieving what many see as the promise of deregulation: lower consumer
prices, greater reliability, increased choice, and more efficient
generation.
Deregulation legislation being considered in Missouri would transfer the
oversight authority from the Missouri Public Service Commission (PSC), which
works closely with the utilities to provide direction if there are capacity
or reliability concerns and sets appropriate customer rates, to the Federal
Energy Regulatory Commission (FERC). Under federal law, FERC has the
responsibility to ensure just and reasonable prices for interstate wholesale
transmission, but there is mounting evidence that FERC may not have
fulfilled
this role in the California situation. FERC Commissioner William Massey
recently said: "Ensuring just and reasonable prices in wholesale markets
requires that we clearly define market power, and aggressively intervene
when
the markets are not producing reasonable prices. The commission's actions to
date have been insufficient." (March 20, 2001 testimony to the House Energy
Committee's Subcommittee on Energy and Air quality).We are requesting that
the General Accounting Office (GAO) assess whether FERC is properly
exercising its role to enforce reasonable electricity rates. Specifically,
we
ask GAO to answer the following questions:
1) Has FERC fulfilled its mandate to ensure just and reasonable rates? Is
FERC adequately monitoring and appropriately regulating based on its
statutes
power supply, demand, and pricing in California? In other Western states? In
the Central Midwest and in the Northeast?
2) Has FERC devoted sufficient resources to carry out its oversight
obligations in a timely and effective manner? And does FERC have the
necessary resources to carry out its future oversight role?
3) Does FERC need additional authority to carry out its mission of ensuring
just and reasonable prices given that widespread partial deregulation is now
occurring in so many states?
4) As we understand the situation from some experts, the number of
transactions in electricity that occur in the deregulated wholesale market
place is voluminous. This situation may increase the difficulties of
guarding
against market abuse. Is there a role for another agency or independent
organization to exercise an oversight role with respect to these
transactions? If so, what would be an appropriate oversight role?
5) We have been advised by some experts that greater transparency of prices
relating to the buying and selling of electricity in a deregulated market
would help guard against market abuses. We understand the need to keep
prices
confidential for a period of time to ensure against collusion. After this
appropriate period of time has passed, would greater transparency be
beneficial?
We are also concerned about recent allegations by the California Public
Utility Commission (CPUC) that market power has been abused in the
transmission of natural gas, which has in turn contributed to the spiraling
cost of electricity generation in the state. The CPUC maintains that the
price of natural gas transmitted by the El Paso pipeline has been
manipulated
so that prices in California over the last year have been up to five times
the national average. Because an increasing number of states, including
California, rely heavily on natural gas fired power plants, any manipulation
of that commodity can have severe consequences. Additionally, because such a
large percent of our future nationwide generation capacity will use natural
gas, we are concerned that these types of alleged market abuses will have
even more profound effects. Therefore, we ask GAO to answer the following
questions:
1) Has FERC fully met its responsibilities to adequately regulate interstate
pipelines? If not, what areas require improvement?
2) Is there a continuing role for FERC to play in ensuring equal access to
the limited amount of space in our current natural gas pipelines? Should
this
role be enhanced or clarified, and if so, how?
3) Is there the possibility of this same type of alleged abuse in other
parts
of the country, aside from California, where the natural gas pipeline
capacity is similarly limited? Please provide any details.We appreciate all
the good work that GAO does and we look forward to hearing from you soon.
Sincerely,J
oseph I. Lieberman
Jean Carnahan |
praise for Bush from Andrew Sullivan, prominent liberal. interesting.
Andrew Sullivan in the London Times
No eloquence can match the impact of their evil. Americans' critical
weakness in the past two decades has been their reluctance to shed blood
for their goals. They believed they could construct a huge military and
never have it fight real wars and suffer real casualties. They thought they
could alter history and advance their interests from the air alone. With
the exception of the Gulf War, which they hesitated to finish, they have
shrunk from the fight. When the current enemy struck again and again
throughout the 1990s, Bill Clinton responded without real credibility,
struck back without real endurance, enraged the terrorists without truly
hurting them. We are now living with the consequences of his appeasement,
and of his refusal to challenge Americans beyond what the polls said they
already wanted to do. Whoever launched this war on Americans has now
accomplished the task Clinton didn't dare embark on. America has been
bloodied as it has never been bloodied before.
I would be a fool to predict what happens next. But it is clear that Bush
will not do a Clinton. This will not be a surgical strike. It will not be a
gesture. It may not even begin in earnest soon. But it will be deadly
serious. It is clear that there is no way that the United States can
achieve its goals without the cooperation of many other states - an
alliance as deep and as broad as that which won the Gulf War. It is also
clear that this cannot be done by airpower alone. As in 1941, the neglect
of the military under Bill Clinton and the parsimony of its financing even
under Bush must now not merely be ended but reversed. We may see the
biggest defense build-up since the early 1980s - and not just in weaponry
but in manpower. It is also quite clear that the U.S. military presence in
the Middle East must be ramped up exponentially, its intelligence
overhauled, its vigilance heightened exponentially. In some ways, Bush has
already assembled the ideal team for such a task: Powell for the diplomatic
dance, Rumsfeld for the deep reforms he will now have the opportunity to
enact, Cheney as his most trusted aide in what has become to all intents
and purposes a war cabinet.
The terrorists have done the rest. The middle part of the country - the
great red zone that voted for Bush - is clearly ready for war. The decadent
Left in its enclaves on the coasts is not dead - and may well mount what
amounts to a fifth column. But by striking at the heart of New York City,
the terrorists ensured that at least one deep segment of the country
ill-disposed toward a new president is now the most passionate in his
defense. Anyone who has ever tried to get one over on a New Yorker knows
what I mean. The demons who started this have no idea about the kind of
people they have taken on.
But what the terrorists are also counting on is that Americans will not
have the stomach for the long haul. They clearly know that the coming
retaliation will not be the end but the beginning. And when the terrorists
strike back again, they have let us know that the results could make the
assault on the World Trade Center look puny. They are banking that
Americans will then cave. They have seen a great country quarrel to the
edge of constitutional crisis over a razor-close presidential election.
They have seen it respond to real threats in the last few years with
squeamish restraint or surgical strikes. They have seen that, as Israel has
been pounded by the same murderous thugs, the United States has responded
with equanimity. They have seen a great nation at the height of its power
obsess for a whole summer over a missing intern and a randy Congressman.
They have good reason to believe that this country is soft, that it has no
appetite for the war that has now begun. They have gambled that in response
to unprecedented terror, the Americans will abandon Israel to the
barbarians who would annihilate every Jew on the planet, and trade away
their freedom for a respite from terror in their own land.
We cannot foresee the future. But we know the past. And that past tells us
that these people who destroyed the heart of New York City have made a
terrible mistake. This country is at its heart a peaceful one. It has done
more to help the world than any other actor in world history. It saved the
world from the two greatest evils of the last century in Nazism and Soviet
Communism. It responded to its victories in the last war by pouring aid
into Europe and Japan. In the Middle East, America alone has ensured that
the last hope of the Jewish people is not extinguished and has given more
aid to Egypt than to any other country. It risked its own people to save
the Middle East from the pseudo-Hitler in Baghdad. America need not have
done any of this. Its world hegemony has been less violent and less
imperial than any other comparable power in history. In the depths of its
soul, it wants its dream to itself, to be left alone, to prosper among
others, and to welcome them to the freedom America has helped secure.
But whenever Americans have been challenged, they have risen to the task.
In some awful way, these evil thugs may have done us a favor. America may
have woken up for ever. The rage that will follow from this grief and shock
may be deeper and greater than anyone now can imagine. Think of what the
United States ultimately did to the enemy that bombed Pearl Harbor. Now
recall that American power in the world is all but unchallenged by any
other state. Recall that America has never been wealthier, and is at the
end of one of the biggest booms in its history. And now consider the extent
of this wound - the greatest civilian casualties since the Civil War, an
assault not just on Americans but on the meaning of America itself. When
you take a step back, it is hard not to believe that we are now in the
quiet moment before the whirlwind. Americans will recover their dead, and
they will mourn them, and then they will get down to business. Their
sadness will be mingled with an anger that will make the hatred of these
evil fanatics seem mild.
I am reminded of a great American poem written by Herman Melville after the
death of Abraham Lincoln, the second founder of the country:
"There is sobbing of the strong,
And a pall upon the land;
But the People in their weeping
Bare the iron hand;
Beware the People weeping
When they bare the iron hand." |
_________________________________________________________________
B R E A K F A S T W I T H T H E F O O L
Tuesday, November 21, 2000
[email protected]
_________________________________________________________________
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"It is human nature to think wisely and to act in an absurd
fashion." -- Anatole France
AGILENT EARNS ITS "A"
Agilent tops estimates and moves to the head of the class.
By Rick Aristotle Munarriz
If there were truth in ticker symbols, Agilent (NYSE: A) would
be holding up its "A" report card proudly. With quarterly
estimates pegged at $0.53 a share, the electronics testing
equipment maker powered up expectations with a $0.69-a-share showing.
That was a 77% surge in bottom-line growth before charges on
$3.4 billion in revenues for the September period. That's
welcome news for a company that has seen its shares fall sharply
since peaking at $162 back in March.
However, a slowdown in microchip testing equipment as well as
weakness in the wireless market has the company warning of
slower growth ahead. With a healthy backlog of orders, Agilent
still expects to meet estimates of $0.45 for the current
quarter.
Spun off by Hewlett-Packard (NYSE: HWP) last year, Agilent will
be deploying new capital into areas where it sees higher growth:
communications and life sciences. I guess that gives the company
an "A" for effort too.
_________________________________________________________________
NEWS TO GO
Chipped off the old block, semiconductor distributor Avnet
(NYSE: AVT) announced that earnings for the current quarter
would come in between a nickel to a dime below the $0.85-a-share
forecast. While acknowledging the cyclical ways of the chip
industry, the company believes that earnings for the rest of the
year will remain on track.
Attention holiday shoppers, Nieman Marcus (NYSE: NMG.A) reported
stronger-than-expected profits but warned of slow action at the
registers so far this month. That's critical as the upscale
department store chain heads into the important buying season.
Nobody wants to see the Grinch steal Christmas (well, OK, it did
top the box office this past weekend, but that's another story).
EDGAR Hoovered? The Securities and Exchange Commission's (SEC)
site for electronic financial filing and data retrieval will go
down on Friday for a "major upgrade." The Electronic Data
Gathering, Analysis, and Retrieval system -- thankfully better
known as EDGAR -- will be back up on Monday morning.
http://www.lnksrv.com/m.asp?i=205554
Has Ozzy Osbourne bitten off more than he can chew -- again? The
legendary showman is suing Hughes Electronics (NYSE: GMH) and
MCY.com (Nasdaq: MCYC) for broadcasting an Ozzfest 2000 concert
tour stop to Hughes' DirecTV subscribers. Osbourne claims that
tour sponsor MCY.com only had rights to a Web cast of the rock
event. Mr. Crowley will not be his legal counsel.
Deere (NYSE: DE) John? An epic Novell (Nasdaq: NOVL)? Hit the
Fluor (NYSE: FLR)? These questions and more will be answered as
the companies get set to release earnings today.
Check out yesterday's Foolish market wrap-up with just one click.
http://www.fool.com/m.asp?i=205555
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Matt Richey explains the Fool's new, free My Accounts service
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17 INDUSTRIES WORTH A LOOK
See which industries our writers think
will be hot next year with Industry Focus 2001.
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ARE YOU ENROLLED IN WIRELESS 201?
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MsgId:
msg-7420-2000-11-21_9-09-44-3298457_2_Plain_MessageAddress.msg-09:14:31(11-21-
2000)
X-Version: mailer-sender-master,v 1.84
X-Version: mailer-sender-daemon,v 1.84
Message-Recipient: [email protected] |
TW and Caithness met in Denver this week for the first face-to-face meeting
between the parties. The purpose of the meeting was to review the status of
the Caithness Big Sandy Project and to establish the next steps for moving
the project forward.
Caithness Corporation
Caithness Corp. is a privately held company based in New York with a variety
of business interests. The company is essentially a financial vehicle for
private investors. Their energy segment currently owns 1,200 MW of
generation through renewable assets in California (geothermal at Coso, wind
in Tehachapi and Palm Springs) and a gas fired plant in South Carolina
jointly-owned by Florida Power & Light.
Big Sandy Project
The Big Sandy Project is a proposed power plant to be located near Wickieup,
Arizona. The project would be built in two phases- first phase would be 550
MW, with a gas load of approx. 80,000 MMBtu/d, and phase 2 would add another
170 MW for a total of 720 MW with a gas load of 120,000 MMBtu/d.
The proposed location of the plant is approximately 40 miles south of
Transwestern's pipeline. The take-off point on Transwestern would be at/near
valve station #1008, approximately 15 miles downstream of compressor Station
#1. The current estimate includes an alignment that follows Arizona state
highway 93 south to a location 2 miles southeast of Wickieup in the S/W 4 of
Section 5, T15N, R12W, Mohave County, Arizona. There is a 500 KV
transmission line owned by WAPA that crosses the property. This line is one
of the principal electric transmission systems in the Southwest and extends
from the Phoenix area to the Mead substation near Boulder City, NV. I've
included a WAPA map below which indicates this line. Also, on the site is a
water pipeline owned by the Cyprus Amax Bagdad mine. Water for the plant
will come from an encapusulated water table through deep wells. They have
currently dug the first two test wells, each capable of 500 cfm. The power
plant will require approximately 3,500 cfm of water. In addition to the
wells, the plant has several thousand-acre feet of water rights to surface
water from the Big Sandy River. The project may also purchase water from the
Cyprus Bagdad water pipeline.
The chief geological feature of this area is the Big Sandy River and
associated wash. The highway 93 roadbed follows along the river. The area
includes rolling hills and is principally desert terrain, with some limited
agricultural and ranching interests. Wickieup is a very small town with an
estimated population of 200.
Project Schedule
Gas Turbine(s) ordered Westinghouse-Seimens May 2000
Submit Environmental Impact Statement (EIS) August 2000
Arrange financing December 2000
EIS approval March 2001
Construction begins April 2001
Testing begins July 2002
Commercial Operation November 2002
There are two lead agencies for purposes of the project's EIS- the Bureau of
Land Management (BLM Kingman office) and the Western Area Power
Administration (WAPA). There is only one endangered/threatened species known
to be present in the area.
Lateral Pipeline Alignment
The most critical path item is the alignment of the lateral pipeline. The
alignment (lateral pipeline route) must be included in the EIS to be filed
next month. Caithness has spoken preliminarily with the Arizona Department
of Transportation (ADOT) and the agency is amenable to granting an easement
for the pipeline. The problem appears to be in the limited amount of right
of way available. Measured from the shoulder to the fenceline, there is only
a 70 ft. right of way available for construction. Typically, pipelines
require a 100 ft. temporary construction easement and 50 ft. of permanent
right of way. Preliminary discussions indicate another problem with this
alignment may be the roadway's routing within the wash of the riverbed.
If the highway 93 corridor is unsuitable for the pipeline, the second
alternative appears to be running the pipeline down the adjacent N/S section
line. The problem with this approach is that as the line nears the site, the
routing would have to contend with the river bed and wash areas, possibly
necessitating deep burial and anchoring. The other route would involve
following along the WAPA electric transmission corridor. The only issue
there, aside from whether WAPA would permit the pipeline encroachment, is
whether there are safety and/or corrosion concerns associated with a high
pressure gas line located under a high voltage transmission system.
Other Preliminary Project Issues
There are other fundamental issues to address. The original concept was to
interconnect the proposed Transwestern lateral with El Paso's northern
mainline and the yet-to-be-constructed Questar Southern Trails Pipeline, both
of which lay adjacent to Transwestern's mainline. Transwestern's original
estimate to construct a 16" lateral pipeline and meter station ($20.3MM) was
based on the following specifications:
120 MMcf/d
450 psig delivery pressure,
900 psig inlet pressure
The meeting resulted in a revised set of specifications that now include a
higher 550 psig minimum delivery pressure (new technology Westinghouse
turbines). In addition, our understanding is that EPNG's system operates at
a pressure 100-150 psig lower than Transwestern's. In order to accommodate
EPNG deliveries and to account for the new higher minimum pressure, the
design will likely change to a 20" pipeline.
Next Steps (responsible party/department)
Task Date Due Party/Dept.
Pipeline Alignment
1. Estimate to plot lateral pipeline route. 8/4 Matthews/Chanley
2. Engineering services agreement 8/4 Scott/Fawcett
3. Final alignment sheets. 8/25 Matthews/Chanley
Misc. Items
1. Confidentiality Agreement 7/24 Scott/Fawcett
2. Data items to Caithness
- Form 567 7/26 Matthews
- Gallup FERC filing (flow diagram) 7/26 Scott
- Sta. 1 and Needles flow/pressure data 7/28 Matthews
- Outage reports/maintenance schedules 7/28 Matthews
Engineering/Design
1. Original estimate (16" line) to Caithness 7/24 Matthews
2. Revised specifications to Transwestern 7/28 Caithness (T.P.)
3. Revised estimate (20" line) to Caithness 8/4 Matthews/Chanley
Other Issues
Several key issues need to be addressed concurrently with the pipeline
alignment and engineering activities:
Task Date Due Party/Dept.
Deal Structuring
1. Financing/cost amortization 9/8 Fawcett/Hayslett
/Centilli/Goodrow
2. Research interconnect policy (EPNG) 8/4 Scott/Regulatory
3. Research 7(c) application requirements 8/11 Scott/Regulatory
4. Rates 9/22 Scott/Regulatory
/Centilli
5. Research open season requirements 8/18 Scott/Regulatory
The above list is certainly not meant to be all-inclusive and a kick-off
meeting to discuss the project schedule will be put together shortly. In the
meantime, if you have any questions regarding this project, please let me
know. Also, please feel free to forward this memo to anyone I've
inadvertently left off the distribution. Thanks. |
---------------------- Forwarded by Gerald Nemec/HOU/ECT on 07/02/99 11:13 AM
---------------------------
Enron Capital & Trade Resources Corp.
From: Office Chairman @ ENRON 07/01/99 12:33 PM
To: Enron Worldwide
cc:
Subject: Organizational Changes
Interoffice
Memorandum
Enron's performance has been exceptional. This performance is reflected in
our stock price, in the recognition we receive in the media and financial
communities, and, most importantly, in the enthusiasm of our people. It has
been clear to us for some time that we are driving fundamental change in the
marketplace and that our natural gas, electricity and communications networks
can be positioned for even greater growth. A &new economy8 is emerging, an
economy based on intellectual capital and the compelling economics of
networks. Capturing the opportunities in this new economy calls for
increased coordination and integration across our wholesale (ECT, ECM, EI),
retail (EES), and communications (ECI) businesses. It is our intention to
combine the operations of these businesses into a cohesive organization that
will ensure we realize the growth we foresee in all our businesses.
To this end, we are initiating a number of organization and staffing changes
in these businesses and related changes in the Enron Office of the Chairman,
in Corporate Staff groups, and in a number of management/personnel
committees. Other business units, EOG, GPG, PGE, and Azurix, will not be
directly affected. Accordingly, the following changes are effective
immediately.
Enron Office of the Chairman
Joe Sutton will join the Office of the Chairman as Vice Chairman. In his new
role, Joe will work with the two of us to manage the operations of the
company.
Rebecca Mark, previously Vice Chairman of the company, will now fully
concentrate on her responsibilities as Chairman and CEO of Azurix, our most
recent public company. Rebecca has also been elected to the Enron Board of
Directors, effective today.
Ken Harrison, previously Vice Chairman of the company, will fully concentrate
on his responsibilities as Chairman and CEO of Portland General Electric and
Non-Executive Chairman of Enron Communications. Ken will continue to serve
on Enron's Board of Directors.
Redefined Business Units
ECT, ECM, EI, EES, and ECI will be regrouped into eight regions/businesses
and five global functions. Each region/business will be operated as an
independent entity but will coordinate staffing, career paths, compensation
and performance review across all units. Each global function will provide
its specialized expertise across all regions/businesses. Included in these
functions is a new technology function, which will focus on information
systems and growth of our e-commerce capabilities where we believe there is
enormous potential. These organizational units and their leadership are as
follows:
Regions/Businesses
North America: Cliff Baxter, CEO; Kevin Hannon, COO
Europe: Mark Frevert, CEO; John Sherriff, President; Dan McCarty, COO
South America: Jim Bannantine, Co-CEO; Diomedes Christodoulou, Co-CEO
India: Sanjay Bhatnagar, CEO
Caribbean, Middle East: David Haug, CEO
Asia, Africa: Rebecca McDonald, CEO
EES: Lou Pai, CEO; Tom White, Vice Chairman
ECI: Joe Hirko, Co-CEO; Ken Rice, Co-CEO (Ken Harrison ) non-executive
Chairman)
Global Functions
Risk Management: Greg Whalley, CEO
Finance: Andy Fastow, CFO; Jeff McMahon, Treasurer
Asset Operations: Kurt Huneke, CEO
EE&CC: Larry Izzo, CEO
Technology: Mike McConnell, CEO
Corporate Staff
All corporate and EI staff units will be regrouped into six corporate staff
groups. These staff groups will support all operations of Enron. These
organizational units and their leadership are as follows:
Legal: Jim Derrick, EVP and General Counsel; Rob Walls, SVP and Deputy
General Counsel
Risk Assessment and Control: Rick Buy, EVP
Accounting and HR: Rick Causey, EVP and Chief Accounting Officer
Investor Relations: Mark Koenig, EVP
Other Staff Groups: Steve Kean, EVP and Chief of Staff
Corporate Development: To be determined.
Committees
A new Executive Committee will be formed to replace the existing Management
and Operating Committees. Membership will be as follows:
Ken Lay, Chairman
Jeff Skilling, Alternate Chairman
Joe Sutton
Stan Horton
Jim Bannantine Kurt Huneke
Cliff Baxter Larry Izzo
Sanjay Bhatnagar Steve Kean
Rick Buy Mark Koenig
Rick Causey Rebecca Mark (Ad hoc)
Diomedes Christodoulou Mike McConnell
Jim Derrick Rebecca McDonald
Andy Fastow Jeff McMahon
Peggy Fowler Lou Pai
Mark Frevert Mark Papa (Ad hoc)
Kevin Hannon Ken Rice
Ken Harrison John Sherriff
David Haug Greg Whalley
Joe Hirko Tom White
Four other committees, which will be essential to the success of this new
organization, will be formed. These committees are:
Managing Director and SVP Personnel Committee: Jeff Skilling, Chairman
Vice President Personnel Committee: Kevin Hannon, Chairman
Vision and Values Committee: Joe Sutton, Chairman
Workforce Diversity: Ken Lay, Chairman
Details of membership on these committees will follow shortly.
Summary
Over the next several weeks all of the specifics of this reorganization will
be further ironed out and communicated. In the meantime, please bear with us
- we are confident that these changes will have a significant, positive
impact on the operation and growth of the company. |
Start Date: 4/22/01; HourAhead hour: 20; HourAhead schedule download failed.
Manual intervention required.
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INSIDE NYTIMES.COM
The New York Times on the Web, Wednesday, December 13, 2000
______________________________________________________
Dear Member,
With the holidays approaching, we've brought together all
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Charlene,
Thanks for the email. I have talked with Sally several times on this last
couple of days and I understand that OU has a different recruiting schedule
then other schools. Enron is on campus for recruiting in the near future and
I have asked Sally to tag on some interviews for summer interns while on that
trip. I believe that she has been able to schedule this so I believe that
from an OU perspective it may be a mute point now. Doing that should be able
to maintain the momentum that we have developed at OU and all the work Lexi
has done. By the way, the recruiting trip a couple of weeks ago was very
successful.
If you have any other questions or comments please let me know.
mike
Charlene Jackson@ENRON
10/05/2000 06:34 AM
To: Sally Beck/HOU/ECT@ECT
cc: Celeste Roberts/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, Mike
McConnell/HOU/ECT@ECT
Subject: Re: Hiring Practices for Summer Interns
Sally,
Thanks for the e-mail regarding summer interns. I apologize that Lexi and
Shelly were unable to provide you with the answers you were seeking. I wish
that you had contacted either Celeste or me to indicate that you were having
difficulty. I have personally assured you on several occasions that I was
available to either speak with you or meet with you if for some reason any
member of my staff was not responsive. That being said please allow me to
explain the recruiting strategy since I was instrumental in helping to set it.
You are absolutely correct. It is great to do market research if time
permits or it is regarding an issue of which we have little knowledge. As
you are aware, over the past year we have engaged a professional recruiting
firm (Brecker & Merryman) who has assisted us in a number of different market
research projects. However, in my opinion, this issue is not one that
required much research. I have been involved in recruiting in some way,
shape or form at both the graduate and undergraduate level for the past 10
years. Most major organizations, with the exception of the Accounting firms,
begin the summer intern recruiting process in early spring. There are
actually some universities that do not allow recruitment of summer interns
until after a certain date, particularly in the MBA programs. For example,
Harvard does not allow an organization to come on campus and speak to first
year students until January. As indicated, the firms that generally recruit
in the fall are the Accounting firms and they are primarily recruiting for
"spring" internships.
The recruiting strategy at Enron is no different this year than it was last
year with respect to summer interns. Presentations were made in January &
February and offers were made in February and March. The only school that
did not follow the normal process was OU under the direction of George Hope.
We did, of course, recruit summer interns in the fall for the tax group
because they are competing directly with the Accounting Firms.
Utilizing this strategy did not impair Enron,s ability to hire quality summer
interns. This past summer Enron had 76 summer Analysts (undergraduate) and
40 summer Associates (graduate). We intentionally limited the number of
summer hires to ensure that the individuals hired received meaningful
assignments. Approximately 85% of these individuals received permanent
offers to join Enron.
The reason Enron has not had a problem recruiting quality undergraduate
summer interns is primarily because many organizations do not hire
undergraduates for summer positions. They generally focus on MBAs,
particularly the investment banks and consulting firms which are the firms
that Jeff Skilling identifies as Enron's competitors. Because the
undergraduates are not actively recruited by our competition we have
continued to have a special focus on these individuals (i.e. the reason there
were 76 undergraduates and only 40 MBAs).
With respect to OU and UT specifically since those were the schools about
which you raised a concern, let me address your concerns. In your e-mail you
indicated that you had research conducted at UT and OU. You did not however,
provide the results of the research or the person to whom they had spoken
therefore I had Lexi Elliott contact both UT and OU.
While OU has not gotten back to her, following is the information obtained
from UT.
o The contact at UT Career Services is Cindy Henson.
o According to Cindy, approximately 5% of companies actively recruiting on
campus conduct interviews in the fall for "summer" internships. Cindy
attributes this to the fact that these companies cannot come in the spring,
or, in the case of Andersen Consulting, have a tremendous need and conduct
all interviews at one time.
o In conclusion, Cindy estimated that 95% of companies actively recruiting on
campus recruit in the spring for summer internships.
We have not received information from OU therefore I am unable to provide the
statistics at this time. I will provide as soon as I am in receipt of such
information.
It appears that the information your source obtained is considerably
different than what we were told. If you would provide the name of the
individual to whom they spoke I will follow up to determine the reason for
the discrepancies.
While I understand your concern with respect to OU, they appear to be
different than most of the other schools at which we recruit. If you believe
that it is critical to recruit summer interns at OU in the fall we are
supportive; however, because Lexi has other school interviews that are
already scheduled she will not be in a position to facilitate the interview
process during the trip you have scheduled currently. As you are aware, in
most instances, the dates for presentations and interviews are dictated by
the respective universities and were secured in early August. If you would
like for her to try and secure an interview schedule for a later date this
fall she can certainly work with your schedule and her current schedule to
support your efforts.
I hope this has been helpful. I can understand and appreciate your
frustration if you are not getting answers from the recruiter or her
manager. Again, I offer that I am available and willing to work with you if
you are having difficulty with members of the Program staff.
Please let me know what you decide about recruiting this fall for summer
interns and whether I can be of any additional assistance.
Charlene |
---------------------- Forwarded by Susan M Scott/HOU/ECT on 10/04/2000 06:47
PM ---------------------------
Enron Capital & Trade Resources Corp.
From: Chuck Scott <[email protected]>@compuserve.com>
10/04/2000 01:14 PM
To: "INTERNET:[email protected]" <[email protected]>
cc:
Subject: FW: Venus and Mars
-------------Forwarded Message-----------------
From: "Williams, Wilbur", INTERNET:[email protected]
To: "William Hieronymus", INTERNET:[email protected]
"Warren Newhouse", INTERNET:[email protected]
"Terry Scowcroft", INTERNET:[email protected]
"Steve Boyle", INTERNET:[email protected]
"Richard Gartner", INTERNET:[email protected]
"Michael Dineen", INTERNET:[email protected]
"Lane Sims", INTERNET:[email protected]
"Jay Shivers", INTERNET:[email protected]
"James Gaitens", INTERNET:[email protected]
"Clint Wetmore", INTERNET:[email protected]
"Charles Parham", INTERNET:[email protected]
"Arne Blomquist", INTERNET:[email protected]
"Ali M. Berke", INTERNET:[email protected]
"'PETE WILLIAMS'", INTERNET:[email protected]
"'Larry knox'", INTERNET:[email protected]
"'joe cooper'", INTERNET:[email protected]
"'Jim Bunch'", INTERNET:[email protected]
"'Craig Coleman'", INTERNET:[email protected]
"'BOB LAWERENCE'", INTERNET:[email protected]
"'BETTY WILLIAMS'", INTERNET:[email protected]
"'chuck scott'", charliecoyote
Date: 9/28/00 9:58 AM
RE: FW: Venus and Mars
> -----Original Message-----
> From: Dischinger, James B [SMTP:[email protected]]
> Sent: Thursday, September 28, 2000 8:30 AM
> To: Andy (E-mail); Becker (E-mail); Benson (E-mail); bunch (E-mail);
> bwall (E-mail); copeland (E-mail); dave wright (E-mail); Drew (E-mail);
> erlich (E-mail); fred (E-mail); home (E-mail); hairr (E-mail); janet
> (E-mail); jenny (E-mail); kaberlein (E-mail); klingenberger (E-mail); kyle
> (E-mail); leslie(omni) (E-mail); lopez (E-mail); miles (E-mail); mims
> (E-mail); quezergue (E-mail); sharon (E-mail); shursen (E-mail); spencer
> (E-mail); tatarski (E-mail); taylor al (E-mail); trichards (E-mail);
> trinchard (E-mail); twagner (E-mail); ward (E-mail); wiemer (E-mail);
> wayne (E-mail); wilbur (E-mail); Aelmore, Donna M.; Bray, R Alan; Halter,
> Marc C; Jeffrion, Laurie T; Mcginness, Thalbert E; Mitchum, Franklin L;
> Morrison, Dale B.; Musso, Brian S; Plaisance, Kerry T; Prizler, Raymond C;
> Wagner, Bruce E; Welch, Henry R; Wolfe, James E
> Subject: FW: Venus and Mars
>
>
>
>
>
> > > Subject: Venus and Mars
> > >
> > >
> > >
> > >
> > > >>Her story vs. his story
> > > >>
> > > >>HER STORY:
> > > >>
> > > >>He was in an odd mood when I got to the bar, I thought it might
> > > >>have been because I was a bit late but he didn't say anything
> > > >>much about it. The conversation was quite slow going so I
> > > >>thought we should go off somewhere more intimate so we could
> > > >>talk more privately. So we went to this restaurant and he's
> > > >>STILL acting a bit funny and I'm trying to cheer him up and
> > > >>start to wonder whether it's me or something else.
> > > >>
> > > >>I ask him, and he says no. But you know I'm not really sure.
> > > >>So anyway, in the cab back to his house, I say that I love him
> > > >>and he just puts his arm around me. I don't know what the hell
> > > >>this means because you know he doesn't say it back or anything.
> > > >>We finally get back to his place and I'm wondering if he's
> > > >>going to dump me!
> > > >>
> > > >> So I try to ask him about it but he just switches on the TV.
> > > >> Reluctantly, I say I'm going to go to sleep. Then, after about
> > > >> 10 minutes, he joins me and we have sex. But, he still seemed
> > > >> really distracted, so afterwards I just wanted to leave.
> > > >> I dunno, I just don't know, what he thinks anymore. I mean,
> > > >> do you think he's met someone else?
> > > >>
> > > >>
> > > >>
> > > >>HIS STORY:
> > > >>
> > > >>Lousy day at work. Tired. Got laid though.
> > >
> > > >
> >
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Message-ID: <[email protected]>
From: "Williams, Wilbur" <[email protected]>
To: "'BETTY WILLIAMS'" <[email protected]>,
"'BOB LAWERENCE'" <[email protected]>,
"'chuck scott'" <[email protected]>,
"'Craig Coleman'" <[email protected]>, "'Jim Bunch'" <[email protected]>,
"'joe cooper'" <[email protected]>,
"'Larry knox'" <[email protected]>,
"'PETE WILLIAMS'" <[email protected]>,
"Ali M. Berke" <[email protected]>,
"Arne Blomquist" <[email protected]>,
"Charles Parham" <[email protected]>,
"Clint Wetmore" <[email protected]>,
"James Gaitens" <[email protected]>,
"Jay Shivers" <[email protected]>,
"Lane Sims" <[email protected]>, "Michael Dineen" <[email protected]>,
"Richard Gartner" <[email protected]>,
"Steve Boyle" <[email protected]>,
"Terry Scowcroft" <[email protected]>,
"Warren Newhouse" <[email protected]>,
"William Hieronymus" <[email protected]>
Subject: FW: Venus and Mars
Date: Thu, 28 Sep 2000 09:55:58 -0500
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
X-WSS-ID: 15CD838B461913-01-01
Content-Type: text/plain;
charset=us-ascii
Content-Transfer-Encoding: 7bit |
Phil and I were just looking at some of the invoices created for March activity and I noticed the sale to MidAmerican Energy was not in his stack of invoices to review. Would you see if we billed MidAmerican for March please? The deal number is 1199439, the volume is 310,000 dth and the price is $2.47 per dth. This was gas that the ENA Ontario desk had parked at Dawn. There are more notes at the bottom of this email.
-----Original Message-----
From: McMichael Jr., Ed
Sent: Thursday, February 28, 2002 9:56 AM
To: Germany, Chris
Subject: RE: Enbridge Consumers' Gas Park & Loan
Good Job! Please document the sale and the other bids, timing issues, costs, and any other factors that led to or affected the sale. If you have any questions, please ask.
Ed
-----Original Message-----
From: Germany, Chris
Sent: Thursday, February 28, 2002 8:53 AM
To: Mann, Kay; McMichael Jr., Ed; Concannon, Ruth; Parks, Joe
Cc: Price, Wade R.; Dickson, Stacy E.; Olinger, Kimberly S.; Polsky, Phil; Boyt, Eric; Richardson, Stacey
Subject: RE: Enbridge Consumers' Gas Park & Loan
Just sold 10,000 MMBtu per day at Dawn to MidAmerican Energy Company at $2.47 for March. My contact at MidAmerican is Dave Evans (515-281-2698). Dave said he was using Apr Nymx + $.05 to calculate his price.
-----Original Message-----
From: Germany, Chris
Sent: Wednesday, February 27, 2002 4:30 PM
To: Mann, Kay; McMichael Jr., Ed; Concannon, Ruth; Parks, Joe
Cc: Price, Wade R.; Dickson, Stacy E.; Olinger, Kimberly S.; Polsky, Phil; Boyt, Eric
Subject: RE: Enbridge Consumers' Gas Park & Loan
Update
Robin and I are waiting to hear back from all of the following
company contact
Reliant Energy Services Inc. Sue Cozad 989-687-9246 low probability
Enbridge Gas Services Inc. Dan White 403-508-3184 new counterparty - low probability
MidAmerican Energy Company Dave Evans 515-281-2698 good prospect
CMS Marketing, Services and Trading Company Scott Biscoe 713-230-7286 low probability
El Paso - no interest.
Left messages with
Duke Energy Marketing Ltd. Steve Butler 403-297-9840
TXU Energy??? David Jones
-----Original Message-----
From: Dickson, Stacy E.
Sent: Wednesday, February 27, 2002 3:34 PM
To: Mann, Kay; Germany, Chris
Cc: Price, Wade R.
Subject: RE: Enbridge Consumers' Gas Park & Loan
The Goods and Services Tax (GST) in Canada is levied on sales of gas at a delivery point in Canada and where the gas will not be exported from Canada. The buyer pays the seller the amount of the GST which is a per cent of the purchase price. The seller, in turn, remits the amount of the GST to the appropriate Canadian authority. In structuring the deal, be sure that you make it clear that the Contract Price does not include the GST. If the gas it to be exported the buyer needs to notify that the gas is "zero-rated" so it is not subject to the GST.
Wade - Do you know who in settlements is handling GST payments? I hope we still have someone who can do that.
Please let me know if you have any other questions.
Stacy
x3-5705
-----Original Message-----
From: Mann, Kay
Sent: Tuesday, February 26, 2002 7:02 PM
To: Dickson, Stacy E.
Subject: FW: Enbridge Consumers' Gas Park & Loan
Do you know the answer to the tax question, or at least who to ask?
Thanks,
Kay
-----Original Message-----
From: Germany, Chris
Sent: Tue 2/26/2002 5:46 PM
To: Germany, Chris; McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay
Cc: Fowler, Kulvinder; Schumack, Sherlyn
Subject: Enbridge Consumers' Gas Park & Loan
Opps. Didn't mean to hit send it just yet. Much better now.
-----Original Message-----
From: Germany, Chris
Sent: Tuesday, February 26, 2002 5:39 PM
To: McMichael Jr., Ed; Concannon, Ruth; Boyt, Eric; Garza, Maria; Polsky, Phil; Dicarlo, Louis; Olinger, Kimberly S.; Parks, Joe; Mann, Kay
Cc: Fowler, Kulvinder; Schumack, Sherlyn
Subject: Enbridge Consumers' Gas Park & Loan
Today we discovered that ENA has 310,000 MMBtu parked with The Consumers' Gas Company Ltd. (an affiliate of Enbridge Inc.) at Dawn that needs to be withdrawn by March 31, 2002. Dan White (403-508-3184) at Enbridge faxed me their confirmation. According to Dan, this gas was parked in May and June 2001. Per Enbridge's confirmation, "Customer shall pay Enbridge a fee of $.22 US/MMBtu...prorated over 12 months". The confirmation makes it clear that March withdrawals are interruptible. Dan didn't know if ENA has paid the fee but he is letting ENA take this gas for March!!! So far have not been able to find a deal ticket in Sitara or tagg that applies to this deal.
Tomorrow, I will get bids from some of the companies ENA has done business with in the past at Dawn. Before I sell the gas, I will
1. verify the creditworthiness of the company we are selling to
2. make sure the company we are selling to agrees to pay us for the gas and doesn't net this with some other item.
Kay, the point we are selling the gas at is Dawn which is in Canada. Are there any special tax issues to address?
Any comments or questions?
Listed below are some of the companies ENA has done business with at Dawn
AEP Energy Services, Inc.
Aquila Canada Corp.
BP Canada Energy Company
Cargill Energy Trading Canada, Inc.
CMS Marketing, Services and Trading Company
CoEnergy Trading Company
Consumers Energy Company
Consumers Gas Company Ltd., The
Coral Energy Canada Inc.
Duke Energy Marketing Limited Partnership
Duke Energy Trading and Marketing, L.L.C.
Dynegy Canada Inc.
Dynegy Canada Marketing and Trade, a division of Dynegy Canada Inc.
El Paso Merchant Energy, L.P.
Engage Energy Canada L.P.
Nexen Marketing
PanCanadian Petroleum Limited
PG&E Energy Trading, Canada Corporation
PG&E Energy Trading-Gas Corporation
Phibro Inc.
Reliant Energy Services, Inc.
Sempra Energy Trading Corp.
TXU Energy Trading Canada Limited
WPS Energy Services, Inc. |
Hey,
I was just wondering if you would be able to do the TV this month?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, November 08, 2000 4:33 PM
To: [email protected]; [email protected]; Bass, Jason;
[email protected]
Subject: Telluride E-Ride Newsletter
---------------------- Forwarded by Eric Bass/HOU/ECT on 11/08/2000 04:32
PM ---------------------------
[email protected] on 11/08/2000 04:57:04 PM
To: [email protected]
cc:
Subject: Telluride E-Ride Newsletter
HELLO AGAIN E-RIDERS!
Yes, the snow has started to come down! In very big ways! In fact,
Telluride has received over 3 feet of fresh powder since October 1 and the
temperatures have been frigid?which makes for excellent snowmaking
conditions. Winter has come, and you know what that means ? YES! Time to
strap on some boards and make some turns!
SNOW REPORT
As the snow has begun to come with increasing regularity, you can imagine
the local attitude begins to buoy. At lunch the other day, when we looked
out the window and saw the big flakes coming down, we made a loud whoop
with our waiter, causing all heads in the restaurant to turn our way. But
when the other diners saw the white stuff, EVERYONE started buzzing with
the anticipation. Folks are getting ready for the season. For a sneak
preview, check out the photo of the day at
www.telluride-ski.com/dayphoto.html.
BARGAINS & DEALS
The best-case scenario for skiing Telluride is to live here. But the NEXT
best-case scenario is that you get a screaming deal to vacation here. And
that's what Telluride and Mountain Village Visitor Services has for you.
Check out these packages for round-trip air, lodging and skiing from some
of America's biggest hubs:
Dallas Special: $831 per person - 5 nights lodging, 4 days skiing
and roundtrip air to Montrose
Houston Special: $814 per person - 5 nights lodging, 4 days skiing and
roundtrip air to Montrose
Chicago Special: $825 per person - 5 nights lodging, 4 days skiing and
roundtrip air to Montrose
Miami Special: $929 per person - 5 nights lodging, 4 days skiing and
roundtrip air to Montrose
To get any of these specials, call 1-888-288-7360.
If you choose to put together a package on your own, check out the lodging
deals at www.telluride-ski.com and click on HOT DEALS.
WHAT'S NEW
You can never have too much snow. With that in mind, the Telluride Ski
Resort installed a new snowmaking system this summer that guarantees that
every lift pod will have coverage on at least one run all season long! Yep.
Lifts 1, 4, 5, 6, 7 and 9 will have better conditions for riding and skiing
from beginning to end. As the hipper folks say, the turns will be "tasty."
The tastiest new addition to the mountain, however, is Allred's, a new
140-seat restaurant that is guaranteed to delight even the most
discriminating diners. Located mid-mountain at the gondola Station St.
Sophia, Allred's will serve as a private club by day in the winter, an
upscale lunch spot in the summer and a fine dining experience in the
evenings year-round. More on this epicurean dream in later e-rides. For
dinner reservations, call 970-728-7474.
One other great new thing: It's easier to get to Telluride than ever
before. You can now fly to Montrose EVERY DAY from Dallas/Ft. Worth on
American Airlines?but the flight will only have 129 seats, so be sure your
body is in one of them!
WHAT'S HAPPENING
Of course the most important thing on the Telluride calendar is November
22, the Official Opening Day. But there are other things worth mentioning.
Like the Sneak Preview of the mountain on November 21. For one day only you
can ski Telluride for $20, and all proceeds go to the Telluride Ski and
Snowboard Club.
After the Donation Day, you can still get good deals. From November 21
through December 16, Telluride hosts its annual Ski Free & More program.
What's it entail? Exactly what it says. Skiers and riders staying at
participating lodges in the towns of Telluride and Mountain Village can
choose a free lift ticket, a free ski clinic, a free lunch or a free
half-day of childcare for each night they stay. For more information call
888-288-7360.
And if you're looking forward to having a ball, why not do it right at the
annual Black & White Affair? On November 25, the Telluride Ski and
Snowboard Club hosts this gala event at the luxurious Telluride Conference
Center. Dress up and dance off your turkey. No one puts on a ball like
Telluride!
SLICE OF LIFE
Imagine being over 50 years old and never having seen any snow! Such was
the case for my friend Sarah, who recently moved to Telluride from the
Caribbean. She and her daughters arrived late this summer, and when the
snows began to fall a few weeks ago, they were in rapture! Sarah ran
outside and began to dance around (to her 17-year-old daughter's absolute
embarrassment!) However, the daughters both caught the enthusiasm and built
their first snowman ever. The snowman , of course, had a perfect carrot
nose.. An organic carrot, no less. Hey, this is Telluride. Only the best
for our snowmen.
AND SO, E-RIDERS,
That's all for this letter. Hope you're planning your trip to Telluride,
where the snow is always whiter and the lines are always short. See you on
the slopes!
Rosemerry
WHO'S WRITING THIS ANYWAY?
Against her will, Rosemerry Wahtola Trommer learned to ski in Telluride six
years ago. But after a few turns, she fell ? in love with the sport. She
lives with her husband and cat at the base of Lift 7?an ideal spot for
getting first chair of the morning. |
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Yes, Global agrees.
From: Stephanie Sever/ENRON@enronXgate on 04/24/2001 04:02 PM
To: Tana Jones/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Karen
Lambert/HOU/ECT@ECT
cc: Lisa Lees/ENRON@enronXgate, Tom Moran/ENRON@enronXgate
Subject: FW: Product Type approval for 2 product types (US Residual Fuel Oil
1% and 3% Crack Spreads)
Tana/Kelly/Karen:
The product long descriptions below will fall under two new product types:
US Residual Fuel Oil 1% Crack Spread
US Residual Fuel Oil 3% Crack Spread
Credit (Tom Moran) has approved copying the profiles for the new product type
from the following:
US Oil HSFO Fin Swap
Please respond no later than 10 a.m. on Wednesday, April 25.
Thank you.
-----Original Message-----
From: Moran, Tom
Sent: Tuesday, April 24, 2001 3:05 PM
To: Sever, Stephanie
Subject: FW: Product Type approval for 2 product types (US Residual Fuel Oil
1% and 3% Crack Spreads)
-----Original Message-----
From: Moran, Tom
Sent: Monday, April 23, 2001 1:08 PM
To: Lees, Lisa
Cc: Guidroz, Walter
Subject: FW: Product Type approval for 2 product types (US Residual Fuel Oil
1% and 3% Crack Spreads)
Lisa,
Please copy the existing counterparty profiles from: &US Oil HSFO Fin Swap8
and use it for these two new products:
US ResidOil Spd NYH 1% Crack Spread
US ResidOil Spd GC 3% Crack Spread
Regards,
tm
-----Original Message-----
From: Walker, Chris
Sent: Monday, April 23, 2001 12:17 PM
To: Blumenthal, Jeff; Musch, Susan; Hagelmann, Bjorn; Moran, Tom; Swinney,
John; Taylor, Mark
Cc: Lees, Lisa; Sever, Stephanie; Jones, Tana; Lambert, Karen; Lombardi,
Kelly; Sweitzer, Tara; Kenne, Dawn C.; Moorer, Torrey; Meredith, Kevin;
Lozano, Melba; Hunter, Larry Joe; Cass, Robert B.
Subject: Product Type approval for 2 product types (US Residual Fuel Oil 1%
and 3% Crack Spreads)
Your approval is needed for the following 2 product types in Datamanager:
US Residual Fuel Oil 1% Crack Spread
US Residual Fuel Oil 3% Crack Spread
Please do not approve between the hours of 6 am and 11 am..
US ResidOil Spd NYH 1% Crack Spread Jun01 USD/bl/m
A US Residual Fuel Oil financial Swap Transaction with Enron North America
Corp., under which the Seller pays a Floating Price and the Buyer pays the
price submitted by Counterparty on the Website (the Fixed Price) in each case
in respect of the Notional Quantity per Determination Period. Each calendar
month during the term of the Transaction will be a Determination Period. The
Notional Quantity per Determination Period shall be the volume submitted by
Counterparty on the Website. The Payment Date(s) will be 5 business days
after the Floating Price is determinable. The Floating Price shall be the
Index for the relevant Determination Period.
The term of the Transaction shall be from the Effective Date of 01 Jun 2001
to the Termination Date of 30 Jun 2001.
The Index for a Determination Period shall be the difference obtained by
subtracting (i) the arithmetic average of the daily settlement prices for the
prompt month NYMEX Light Sweet Crude Oil Futures Contract for each Pricing
Date in such Determination Period from (ii) the arithmetic average of the
mean of the daily quotations for No. 6, 1%S Max appearing under the heading
"New York/Boston Cargo" in the section entitled "Product Price Assessments"
for those issues of Platt's Oilgram Price Report published for each Pricing
Date in such Determination Period. "Pricing Date" means, a day on which
Platt's Oilgram Price Report is published and which is also a NYMEX trading
day.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be Barrels per
month and the quantity shown shall be in Barrels per month.
US ResidOil Spd GC 3% Crack Spread Jun01 USD/bl/m
A US Residual Fuel Oil financial Swap Transaction with Enron North America
Corp., under which the Seller pays a Floating Price and the Buyer pays the
price submitted by Counterparty on the Website (the Fixed Price) in each case
in respect of the Notional Quantity per Determination Period. Each calendar
month during the term of the Transaction will be a Determination Period. The
Notional Quantity per Determination Period shall be the volume submitted by
Counterparty on the Website. The Payment Date(s) will be 5 business days
after the Floating Price is determinable. The Floating Price shall be the
Index for the relevant Determination Period.
The Effective Date is 01 Jun 2001. The Termination Date is 30 Jun 2001.
The Index for a Determination Period shall be the difference obtained by
subtracting (i) the arithmetic average of the daily settlement prices for the
prompt month NYMEX Light Sweet Crude Oil Futures Contract for each Pricing
Date in such Determination Period from (ii) the arithmetic average of the
mean of the daily quotations for No. 6, 3%S appearing under the heading "U.S.
Gulf Coast Waterborne" in the section entitled "Product Price Assessments"
for those issues of Platt's Oilgram Price Report published for each Pricing
Date in such Determination Period. "Pricing Date" means, a day on which
Platt's Oilgram Price Report is published and which is also a NYMEX trading
day.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency.
The unit of measure against which the price is quoted shall be Barrels per
month and the quantity shown shall be in Barrels per month.
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved" |
Hey guys. I have a ton of emails to plow thru with CES buy look what I
found. The CES storage proxy schedule is at the bottom.
---------------------- Forwarded by Chris Germany/HOU/ECT on 04/10/2000 06:12
PM ---------------------------
From: Colleen Sullivan on 03/30/2000 12:23 PM
To: [email protected] @ ENRON
cc: Chris Germany/HOU/ECT@ECT, Dick Jenkins/HOU/ECT@ECT, John M
Singer/Corp/Enron@ENRON, Scott Neal/HOU/ECT@ECT
Subject: Re: storage clarification & issues
Regarding your memo below, following is a status on those items:
1, 2: The pricing and consistency in pricing for handling intra-month
changes does appear to be an issue. Since the contract didn't spell out in
detail location by location pricing (and I think intentionally so), we
believe the best way to handle this for April forward is to agree monthly
(during bid week) of the process and pricing for each location. I know Chris
Germany has prepared a proposal that I think he has discussed (generally, not
specific numbers) with Brian, Doug and Charlie. I will ask that he forward
this proposal TODAY and finalize the process for April ASAP. Let me know if
you do not think a monthly process of agreeing to the changes is sufficient.
3. Local production - unfortunately I think we have opened a can of worms
here. Here is what is happening: Your people are nominating this
production (we are not even set up to do behind the citygate nominations),
but the contracts were assigned to us in the Wholesale transaction. That
means they were valued by us and put into our system at a value. We are
reviewing this detail now and are finding quite a few discrepancies between
the prices that were listed on the Wholesale Deal List and the actual
contract prices with the producers. So, this is one issue we will have to
address as indemnification items. That's problem one. Problem two is that I
am assuming you all would like this production back since you are doing all
the nominations. We need to work on a solution for doing this (if that is
what you want). For Jan, Feb & Mar, however, it appears that we will be the
ones paying the producers, so we will need to get volume information from
your schedulers in order to get this billed and payed for properly. I'll
follow up with more information on this in the next couple of days.
4. Monthly invoices - regarding the pipeline demand charges, it sounds like
Chris has been trying to verify all the charges before he sends copies of the
pipeline invoices on to you. Maybe we should change this process to one
where he sends them to you as soon as he gets them instead of waiting on his
confirmation and review of all the charges. This means you may see quite a
bit of incorrect data, but at least you'll have something. Let us know what
you would prefer. Regarding the January invoice specifically, I do know that
the Columbia Gulf and Columbia Gas packet of pipeline invoices was mailed to
your office yesterday, March 29. Chris will get all remaining demand charge
statements to your office by Wednesday, April 5, and all corrections he is
aware of as of this date by Friday, April 7. I apologize for the delay.
5. Swap confirmations - I spoke with Jeff Hodge and he believes he has a
packet of all the confirms--he is in Calgary today and will be back on
Monday. Is that soon enough for this to be sent to you? If not, please
advise and I'll see if his assistant can search for this data.
Thanks for clarifying the storage proxy schedule with the remaining inventory
balances.
[email protected] on 03/28/2000 12:43:55 PM
To: " - *[email protected]" <[email protected]>
cc:
Subject: storage clarification & issues
I forgot the storage attachment ...
---------------------- Forwarded by Melissa Flewellyn/CES/ColumbiaGas on
03/28/2000 01:42 PM ---------------------------
Melissa Flewellyn
03/28/2000 01:32 PM
To: [email protected]@internet
cc:
Subject: storage clarification & issues
Colleen,
Attached is an updated storage proxy schedule for COH and AGL showing what our
balance will be as of April 1, 2000. As always, if you have any questions,
please let me know. I'm sending a copy of the document to Denny Pick for
signature and will then send it to Jeff Hodge to get signature from Enron.
Aside from the storage issue, there are several other items that we need to
discuss. Below is a brief description of each. Please let me know how you
think we could best deal with these - whether it's via phone call or having an
in-person meeting down in your office.
1. Pricing - I left you a message about this last week. According to Chris
Germany, all changes to volumes after first-of-the-month must me negotiated.
In the contract, however, it specifically refers to pricing intra-month using
gas daily OR negotiated pricing depending on the timing of the change.
2. Consistency - During our discussions with Chris, it sounds as though some
pipes are being handled differently than others again as it relates to
intra-month changes. I'd just like to make sure that we agree on the pricing
mechanism and then apply it consistently.
3. Local production - Apparently there was local production that John Singer
purchased specifically to back Retail customers, and this production was not
removed from the Wholesale book prior to the sale. We need to discuss how to
handle this production.
4. Monthly invoices - We still haven't seen the complete January 2000
invoice. As I understand it, the demand charges have not all been sent over,
and several items that need to be changed haven't yet been changed. Also,
Brian Perrone and Charlie Dalphon have indicated that they have requested
back-up documentation on the demand charges, but we still haven't received
anything.
5. Swap confirmations - For all of the swaps that Clay Deaton put in place
with Enron to keep Retail's existing hedge positions in tact, I still do not
have executed copies of all of the confirmation agreements. Rich Contos and I
have both called several people about getting a complete set of copies, but we
can't seem to find the right person over there.
Whenever you have time to discuss these, please let me know.
Thanks,
Melissa
- storage proxy.xls |
please print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/18/2000
08:04 AM ---------------------------
From: Doug Leach 12/18/2000 07:19 AM
To: Ross Koller/LON/ECT@ECT, Chris Mahoney/LON/ECT@ECT, David J
Botchlett/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT
cc: Jeffrey A Shankman/HOU/ECT@ECT
Subject: Refined Products Line--European Markets - CERA Alert: December 15 ,
2000
---------------------- Forwarded by Doug Leach/HOU/ECT on 12/18/2000 07:18 AM
---------------------------
"[email protected]" <webmaster on 12/15/2000 10:20:28 AM
To:
cc:
Subject: Refined Products Line--European Markets - CERA Alert: December 15 ,
2000
CERA Alert: December 15, 2000
Title: Refined Products Line--European Markets
CERA Knowledge Areas: Refined Products
Rotterdam Differentials
* The fall in product prices that started in late October-after a brief surge
during heightened market tensions over Middle East unrest-continued in
November. Average differentials for all products over crude fell, with those
for gasoline falling particularly strongly in line with very weak reported
demand. FOB ARA barges for premium unleaded gasoline over Dated Brent
averaged $1.51 per barrel, compared with $5.86 per barrel in October.
* Jet/kerosene barge premiums over Dated Brent slipped by over $2.00 per
barrel in November from October's average, but because of current market
sentiment favoring prompt production of heating oil, they remained high at an
average of $10.98 per barrel. Jet values had enjoyed the largest increase of
all products during October's Middle East-related price increases;
consequently jet/kerosene's premium over heating oil narrowed in November
following an easing of tensions, averaging the month at $2.53 per barrel,
compared with $3.29 per barrel over heating oil in October.
* Despite falling by $1.33 per barrel from October's level, average 0.2%
sulfur gasoil barge values remained very strong in November, averaging $8.45
per barrel over Dated Brent. High end-user prices for heating oil remain a
strong deterrent to demand, however; provisional data for German heating oil
demand in November show a fall of over 10 percent from November 1999 levels
(to an average of 608,000 barrels per day [bd]).
* Discounts of low sulfur (1.0%) heavy fuel oil to Dated Brent widened again
in November, averaging $6.74 per barrel. As was discussed last month, much of
the reason for their improvement in October was because of concerns over the
availability in Russian exports: toward the end of October and into November,
however, such concerns subsided, leading to a widening of discounts. High
sulfur (3.5%) fuel oil discounts widened by $3.26 per barrel to an average of
$9.61 per barrel to Dated Brent.
Refinery Margins
* Margins fell back considerably after the very high levels recorded in
October, but still remained quite strong and reflect the current market
sentiment of favoring maximum refinery production, especially of middle
distillates. High jet/kerosene and gasoil/heating oil values kept margins
buoyant, but falling gasoline premiums and widening heavy fuel oil discounts
were the major downward influences.
* Using CERA's illustrative yield patterns, gross margins for
simple/hydroskimming refineries in the ARA region fell by $2.80 per barrel
over Dated Brent from October's level, averaging $1.19 per barrel in
November. The deterioration in heavy fuel oil discounts accounted for half of
the decline, with the large drop in gasoline values contributing $0.87 per
barrel to the fall.
* The drop in gasoline premiums was the principal reason for the fall in ARA
complex/cracking refineries. Using CERA's illustrative yield patterns, gross
margins averaged $3.30 per barrel in November; this is $2.93 per barrel lower
than October's average, of which $1.74 is attributable to the poorer gasoline
premiums, with the remainder of the difference attributable equally to the
declines in middle distillates and residual fuel oil values.
European Inventories and Refinery Operations*
* EU and Norwegian refinery crude intakes rose by a further 168,000 bd in
November, averaging 12.6 million barrels per day (mbd), again an indication
of refiners seeking to maximizing runs given the current favorable margins.
Output data for individual products are not yet available, but the high crude
runs and middle distillate margins would indicate that November was another
month of very high jet/kerosene and gasoil production.
* Despite the strong crude runs, primary EU plus Norway crude oil inventories
did increase in November, ending the month 9 million barrels higher than
October's level (which was revised downward) at 426.5 million barrels. There
has been a small but consistent three-month contango in the Brent futures
market, placing a small premium on forward months' values of crude to the
current month's, which would help to encourage stockholding. These stocks
represent about 31 days' forward supply of anticipated total demand in the
first quarter of next year-less than 2 days' fewer supply compared with
November levels for the past two years.
* Primary gasoline inventories fell in November from 154 million barrels to
150 million barrels, contrary to typical seasonal patterns. This may reflect
the relatively low levels of gasoline production over the past few months,
and certainly current gasoline differentials to crude are not encouraging
high gasoline production levels. Nevertheless, this is a potential cause for
concern as it may lead to significant market volatility during the first
quarter of next year.
* Primary middle distillate inventories, however, are continuing to improve.
October's total was revised upward slightly to 333 million barrels, and
November ended at 334 million barrels. In addition to record levels of
refinery production, exports from Russia are proving to be plentiful, with
November's total exports from the former Soviet Union averaging 460,000 bd. A
strong transatlantic arbitrage, however, has been causing most of these
cargoes to go direct to the United States rather than stay in Europe.
**end**
This CERA Alert will be available in PDF format within 24 hours.
**********************************************************************
This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www.cera.com/tos.html
Questions/Comments: [email protected]
Copyright 2000. Cambridge Energy Research Associates |
----- Forwarded by David M Gagliardi/TTG/HouInd on 10/16/01 08:07 AM -----
"Gagliardi,
Michael" To: "'[email protected]'" <[email protected]>,
<mgagliardi@un "'[email protected]'" <[email protected]>,
ocal.com> "'[email protected]'" <[email protected]>
cc:
10/16/01 07:12 Subject: FW: True Orange E-Mail/Fax #101
AM
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Monday, October 15, 2001 9:45 PM
> To: [email protected]
> Subject: True Orange E-Mail/Fax #101
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #101, Monday, October 15, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Brown Says Buffs Pose Real Problem; No TV for Game at Missouri
>
> Coach Mack Brown said Monday Colorado will be the best running team
Texas
>
> will see this year and he also said the Buffaloes have the best offensive
> line the Horns will face.
> The two teams play at 2:30 p.m. Saturday in a game that will be televised
> regionally by ABC. The Longhorns, 5-1, are a 10-point favorite over the
> Buffaloes, also 5-1.
> Brown said DE Kalen Thornton, who missed the Oklahoma State game with a
> sprained knee, is expected to return to practice Tuesday and he said that
> is
> very good news because Colorado has such a powerful running game that the
> Longhorns will need every available defensive lineman to try to stop it.
> "This is the best running team we have seen since the last time we played
> Nebraska," he said. "They have a big, physical line, and some big,
> physical
> backs."
> He said Oklahoma uses its passing game to set up its running game. He
said
>
> Colorado is the opposite. "They run to set up their play-action passes,"
> he
> said. "They have a very good offense, and their quarterback (Craig) Ochs
> is a
> good passer and he can hurt you running. We'll have a battle."
> The Longhorns probably will be back in their basic 4-3 defense against
the
>
> run-oriented Buffs, and Brown said sophomore DT Adam Doiron, who started
> against Oklahoma State, "played really well" and will start again. Fellow
> sophomore Marcus Tubbs is a fixture at the other tackle spot.
> If Thornton is able to return, Brown said that will give the coaches
> freedom
> to use Maurice Gordon at end or tackle. Gordon, a former end, was a
> starting
> tackle until Thornton got hurt, and then he moved back to end.
> He said the Longhorns have to work hard to run a lot against Colorado's
> tough
> run defense because "they like to dominate time of possession with their
> running game and just wear the other team down. We try to wear the other
> team
> down, too, so that's going to be interesting."
> The Longhorns have won 11 straight games at home. That is the longest
home
>
> winning streak since the early 1980s. They also are 19-2 at home since
> Brown
> took over.
> Brown said true freshman RB Cedric Benson will start and Ivan Williams
> also
> will play quite a bit against Colorado. "Cedric did a good job," Brown
> said,
> "and Ivan did well when he came in late. We want Cedric to get a lot of
> carries, but probably not 31 like he got against Oklahoma State. We'll
> probably spread it out a little more."
> He also said TE Bo Scaife and Brock Edwards are going to start getting
> more
> chances to catch passes. "They can really run, and we've got to work them
> into the offense a little more and give them more chances," he said.
> * * * *
> The Longhorns 'game at Missouri on October 27 was not chosen for TV, but
> UT
> officials have asked the Missouri athletic director to approve a pay TV
> arrangement for some Texas cities. The game time would have to be 2:30
> p.m.
> or later to be approved for pay TV because the Big 12 has a rule that pro
> hibits any league game telecast conflicting with the sanctioned
> telecast, which begins at 11 a.m. UT officials expect to get an answer
> from
> Missouri officials Tuesday. This will be the first Longhorn game this
> season
> that was not chosen for TV, and it is the longest road trip this season.
> Ironically, the two longest Big 12 trips last year - to Colorado and
> Kansas
> - were not chosen for TV either. So much for all that famed UT clout with
> the
> TV networks.
> * * * *
> RECRUITING NOTES: The Longhorns are still at 15 commitments. One of them
> is
> a little shaky. LB Garnett Smith of Arlington Lamar says he plans to sign
> with Texas, but might take a couple of visits. When kids take visits, the
> commitments are shaky. We'll have to see what develops in regard to Smith
> and
> his pledge to UT. . . Texas has pledges from five players on my 25-man
> "diffefrence maker" list, including No. 4 DT Earl Anderson of San Marcos,
> No.
> 11 LB Smith, No. 17 LB Brian Robison of Splendora, No. 23 OL Brett Valdez
> of
> Brownwood and No. 24 QB Billy Don Malone of Paris North Lamar. The Horns
> have
> a pretty good shot at every member of the top seven on that list - No. 1
> DT
> Rodrique Wright of Alief Hastings, No. 2 QB Vincent Young of Houston
> Madison,
> No. 3 DE Larry Dibbles of Lancaster, No. 5 DE Travis Leitko of The
> Woodlands,
> No. 6 RB Albert Hardy of Galena Park and No. 7 LB Aaron Harris of North
> Mesquite. The won't get all of that group, but they might get most of
> them.
> * * * *
> My next e-mail/fax will be whenever events warrant.
> * * * *
> The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a
> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail or $99 if you take
> both
> services via E-Mail). Send check to address at the top of page. I also
> update my 900 number - 1-900-288-8839 - daily with recruiting news. My
> E-Mail
> address is: [email protected]. |
Dear SVMG Member:
I need your help.
We will only limit the impact of this summer's Energy Crisis if all
Californian's make gigantic strides to reduce energy use. With that in
mind, Governor Davis and the Legislature have passed the most aggressive
package of energy conservation incentives in the history of our Country.
Please note below a list of ways your employees - as residents - can save
money by saving energy. I hope you will strongly consider relaying the
following e-mail message to all of your California employees.
SAVE MONEY BY SAVING POWER
As you know, California is in the midst of an Energy Crisis that is
threatening our state, the health and welfare of our citizens, and our
economy. Fortunately, there are specific steps we can take - as businesses
and individual citizens - that can help us avoid rolling blackouts and their
devastating impacts this summer.
You may not be aware that Governor Davis and the California Legislature have
passed the most ambitious conservation incentive program in the history of
our nation. This $1 billion package will help you - as a resident - to save
money while saving power.
Please note the information below to take advantage of these opportunities.
Along with the web site links below, please visit the Silicon Valley
Manufacturing Group web site - www.svmg.org - for specific energy
conservation steps you can take at home and at work that will help save
power, save you money, and save our State's economy in the process.
Thank you for your help.
> CALIFORNIA RESIDENCES: MEETING THE ENERGY CHALLENGE
>
>
>
> GENERAL HELP NUMBERS FOR RESIDENCES:
>
> For Energy Conservation Tips: California Energy Commission -
>
> 1-800-232-4685 or 1-800-555-7794.
>
> Electric Utilities also provide a variety of programs and information,
> including, but not limited to, the programs listed below. Contact your
> utility for more information.
>
>
>
> ENERGY EFFICIENCY AND CONSERVATION PROGRAMS
>
> * 20/20 Energy Rebate: Residential, commercial, and industrial
> customers are eligible for this voluntary program which will
> provide rebates
> to customers who reduce their summer 2001 electricity usage.
> Customers will
> receive a 20% rebate on their summer electric bill if they cut back their
> electricity use by 20% over last summer's level. (Alternative energy
> households are not eligible.)
>
> SCE website and 800 number
>
> <http://www.sce.com/002_save_energy/>
> http://www.sce.com/002_save_energy/;
> 1-800-736-4777
>
> PG&E website and 800 number
>
> <http://www.pge.com/003_save_energy/003a_res/index.shtml>
> http://www.pge.com/003_save_energy/003a_res/index.shtml; 1-800-933-9555
>
> SDG&E website and 800 number
>
> <http://www.sdge.com/residential/;> http://www.sdge.com/residential/;
> 1-800-411-SDGE
>
>
> * Incentives for Efficient Lighting (also offered by Municipal
> Utilities): Incentives are to encourage the purchase and use of "Energy
> Star" lighting fixtures, when applicable. The program also offers
> incentives
> and assistance with installation of lighting control technologies, such as
> dimming, timers, and occupancy sensors, which provide more peak demand
> reduction.
>
> SCE website and 800 number
>
> <http://www.sce.com/002_save_energy/>
> http://www.sce.com/002_save_energy/;
> 1-800-736-4777
>
> PG&E website and 800 number
>
> <http://www.pge.com/003_save_energy/003a_res/index.shtml>
> http://www.pge.com/003_save_energy/003a_res/index.shtml; 1-800-933-9555
>
> SDG&E website and 800 number
>
> <http://www.sdge.com/residential/;> http://www.sdge.com/residential/;
> 1-800-411-SDGE
>
>
> * Incentives for Efficient Appliances (also offered by Municipal
> Utilities): Financial incentives are offered to encourage the purchase and
> use of "Energy Star" appliances, such as air conditioners and
> refrigerators,
> by reducing the customer's cost.
>
> SCE website and 800 number
>
> <http://www.sce.com/002_save_energy/>
> http://www.sce.com/002_save_energy/;
> 1-800-736-4777
>
> PG&E website and 800 number
>
> <http://www.pge.com/003_save_energy/003a_res/index.shtml>
> http://www.pge.com/003_save_energy/003a_res/index.shtml; 1-800-933-9555
>
> SDG&E website and 800 number
>
> <http://www.sdge.com/residential/;> http://www.sdge.com/residential/;
> 1-800-411-SDGE
>
>
> * Energy Efficient Audits/Surveys: Energy conservation audits,
> available in-home, mail-in, or on-line, are offered to assist customers in
> understanding their current energy usage patterns, and offer
> recommendations
> for energy savings.
>
> SCE website and 800 number
>
> <http://www.sce.com/002_save_energy/>
> http://www.sce.com/002_save_energy/;
> 1-800-736-4777
>
> PG&E website and 800 number
>
> <http://www.pge.com/003_save_energy/003a_res/index.shtml>
> http://www.pge.com/003_save_energy/003a_res/index.shtml; 1-800-933-9555
>
> SDG&E website and 800 number
>
> <http://www.sdge.com/residential/;> http://www.sdge.com/residential/;
> 1-800-411-SDGE
>
>
>
>
> * Low-Income Housing Energy Assistance Program: Administered by the
> Department of Community Services Development, this program provides free
> weatherization services, including attic insulation, weatherstripping, and
> minor housing repairs. The program also provides financial assistance to
> eligible households to offset the costs of heating and/or cooling
> dwellings.
>
>
> DCSD website and 800 Number
>
http://www.csd.ca.gov/LIHEAP.htm; 1-800-433-4327
* CARE Program: The PUC administers a low-income energy assistance
program for electric and natural gas service customers. Known as California
Alternate Rates for Energy (CARE), the program includes both discounts of
15% on electric and natural gas bills, and a residential weatherization
program.
SCE website and 800 number
<http://www.sce.com/002_save_energy/> http://www.sce.com/002_save_energy/;
1-800-736-4777
PG&E website and 800 number
<http://www.pge.com/brochures/care_inst_eng.pdf>
http://www.pge.com/brochures/care_inst_eng.pdf ; 1-800-278-5472
SDG&E website and 800 number
<http://www.sdge.com/efficiency/ee_assistance.html;>
http://www.sdge.com/efficiency/ee_assistance.html; 1-800-743-5000
GOVERNOR'S RATE PROPOSAL:
The Governor's proposal is designed to accomplish multiple goals, including
protecting consumers from extreme market prices by securing long-term
electricity contracts and implementing a tiered rate structure to reward and
encourage conservation. Approximately 53% of California households will not
experience any rate increase. The next 23% of residential customers will
experience about a 10% average increase. Residential customers who use the
most electricity (i.e., significantly more than 130% of the "baseline"
figure listed on each customer's bill), will experience a rate increase of
24% on average.
- winmail.dat |
In case this becomes big news in the United States, attached is a summary
from the Argentina team of the political situation in Argentina. It is not a
political meltdown but it is a significant change in the executive branch and
potential realignment of the political parties in Argentina. The cabinet
shuffle and resignation of the vice president are in the wake of the senate
bribery scandal in Argentina where the opposition was supposedly bribed to
vote for the governments changes in law (actually in favor of economic
reform). The cabinet shuffle was economics oriented with the economic team
being strengthened, but potentially at the expense of the alliance that holds
the government and a majority in Congress over Menem's party, the peronists.
The vice president was the senior member of the second party in the alliance
(President De La Rua is senior member of the first party in the alliance).
Financial markets reacted slightly negatively to the shakeup with bond
spreads widening slightly and Argentine stock prices down slightly. As a
minimum we will keep a close eye on the political and financial situation and
be prepared for any more significant reaction by the financial markets.
---------------------- Forwarded by James M Bannantine/ENRON_DEVELOPMENT on
10/08/2000 07:04 PM ---------------------------
Don Black@ENRON
10/07/2000 08:16 AM
To: James M Bannantine/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Joe Kishkill/SA/Enron@Enron, Diomedes Christodoulou/SA/Enron@Enron, Peter
E Weidler/NA/Enron@Enron, Michael Guerriero/SA/Enron@Enron
Subject: Argentina Political Analysis
Mike,
Thanks for the quick turnaround on this from you and your team.
Jim,
This is as far as this distribution went. Please edit as needed and forward
to whomever you feel necessary.
---------------------- Forwarded by Don Black/SA/Enron on 10/07/2000 11:07 AM
---------------------------
From: Michael Guerriero on 10/07/2000 10:13 AM
To: Don Black/SA/Enron@Enron
cc: Guillermo Canovas/SA/Enron@Enron, Cristian Folgar/SA/Enron@Enron, Maria
Belen Salvador/SA/Enron@Enron
Subject: Argentina Political Analysis
As reported Carlos Chacho Alvarez resigned his position Friday as Vice
president of Argentina.
The main reason of this resignation was a political disagreement with Cabinet
changes announced on Thursday 5th by President De la Rua. Alvarez
publicly noted he could no longer tolerate the political differences with the
President over the senate bribery scandal. Particularly Alvarez disagreed
with De la Rua's decision to promote Alberto Flamarique from Minister of
Labor to General Secretary and to keep Fernando de Santibaez as Chief of the
Intelligence Department. Both Flamarique and Santibaez are suspected of
paying bribes to Senators to vote for a new Labor Law. Alvarez has
emotionally championed the fight against the senate scandal and has been
strongly advocating for the resignation of Flamarique, Santibaez and all
Senators involved in the affair.
It was considered that the decision of De la R?a was intended to demonstrate
that he, and not Alvarez, holds the power and that De la R?a wanted to
demonstrate that the changes were focused on improving the economic situation
and to move beyond the Senate scandal.
The main changes in the cabinet, announced on Thursday 5th, are the following:
Chistian Colombo (economist, in good relationship with Machinea) will replace
Terragno as Chief of Cabinet.
Machinea (Minister of Economy) will also be responsible of the Ministry of
Infrastructure.
Jorge De la R?a (former General Secretary of the President and President's
brother) will be Minister of Justice.
Patricia Bullrich (peronist) will be Minister of Labor.
As a consequence of Alvarez' resignation, Flamarique resigned to his position
of General Secretary of the President.
Regarding the preliminary impact of the political changes to the economic
situation it could be considered the following:
Before Alvarez resignation, the cabinet changes were considered positive
intending to increase the power of the Minister of Economy and reduce the
internal disagreements in the Administration.
Although Alvarez (the leader of the Frepaso party) said he will be still part
of the "Alianza" (the Radical and Frepaso party alliance) in Office, Alvarez'
resignation could lead to the division of the Alianza and reduce the ability
of De la Rua to pass new laws in the Congress. A breakup of the coalition
would make the Peronist the largest party in both houses of Congress only
compounding the potential for government gridlock
This situation will weaken De la Rua and probably foster new re-alignments in
the political field.
All the situation will increase economic uncertainty and will delay economic
recovery. The market will wait to see if a conflict develops in the Alianza.
De la Rua and his team will probably be forced to take "strong" decisions to
retain the political initiative, strength and control.
Machinea will probably try to gain the market confidence, announcing that De
la Rua's Administration will not change the macro foundations of the economic
agenda and even increase its commitment toward monetary and fiscal
equilibrium, exchange rate policy, respect for vested rights, etc.
Financial analysts have viewed the situation as "an institutional crisis with
unknown effects on the economy". The insecurity of the Argentina's political
future caused Argentine debt paper to fall. The Argentine JP Morgan Emerging
Market Bond Index widened 23 basis points to 685 over US Treasuries.
Argentina's 17 year global bond fell only slightly. There does not appear to
be a market panic as noted by the trading of Argentine ADR's in New York.
They were down cents rather than dollars and a number of them closing
unchanged.
We will continue to monitor the situation and update as warranted. |
Here's the email that I mentioned in my voicemail. Take care, Mark
-----Original Message-----
From: [email protected]@ENRON
[mailto:[email protected]]
Sent: Thursday, March 15, 2001 9:08 AM
To: [email protected]
Subject: SEC Chairmanship and James R. Doty
Mark: If this is not what you had in mind, let me know. I have tried to
give you some detail to back up my claim that I can provided much-needed
stature and leadership to the SEC. I am also addressing what I think may be
some of the objections of constituencies in the corporate and financial
community who have, I believe, told the Administration not to appoint a
lawyer and former member of the Staff of the SEC. (Of course, Arthur Levitt
was not a lawyer, and was a former head of the Amex, and has rammed through
one of the mose activist regulatory programs in SEC history! So what I am
offering, in part, is balance and respect for process).
1. The President has the opportunity, by appointing Jim Doty, to get the SEC
headed in a direction the corporate and financial community wants and to do
so with broad (indeed, enthusiastic) support from the agency itself, the
corporate and securities bar, the accounting profession and other
constituencies (including the NASDAQ, the NYSE, members of the Congressional
oversight committees and their staff on both sides of the aisle).
Doty knows securities markets and practices through his work for securities
firms and is well aware of the issues of market structure that will face the
new Chairman--in this he favors continuing to encourage competition and
technological innovation in the markets, and is committed to keeping our
capital markets the best in the world.
He understands the problems the accounting profession and the
standard-setting bodies are facing--including international accounting
standard issues--and is well equipped to be sure the private standard
setting regime we have relied on works well and with sensitivity to current
realities. He will not be a "grenade thrower" on the complex
pooling/purchase issues now confronting the SEC and the FASB. (Here it will
be particularly important that the next Chariman give the FASB proposals on
impairment of goodwill in purchase transactions a fair hearing, and not
attempt to "strong arm" the private standard setters into a requiring
accelerated depreciation of goodwill: this is especially critical given the
fragile state of the technology sector.)
Doty has spent his career advising boards of directors and senior
management on the practical problems businessmen face in dealing with the
SEC. He will bring to the job hands-on experience working with the business
community(corporate and financial), in solving the problems they face in
raising capital and complying with securities regulatory regimes--State,
Federal and cross-border.
2. Doty has a national reputation as a corporate- and securities- law
expert, has published and is in demand as a speaker. As a practicing
lawyer, however, Doty would bring some extraordinary qualifications to the
job of running the SEC, which are as folows:
a. His record as General Counsel of the SEC from 1990-92
demonstrates an understanding of how to work effectively in governmnet.
Doty has the respect of the Staff and will bring credibility within the
building to accomplish needed reform. During his tenure as the SEC's
General Counsel, with a Democratic majority in Congress, he had a major role
in reform initiatives to reduce costs of raising capital and streamline the
financial regulatory structure under President George H.W.Bush. These
included the Small Business Initiative, which reduced costs for small- and
first-time registrants, and structured finance initiatives to provide more
efficient access to capital markets for seasoned issuers.
b. Doty is committed to using the exemptive authority under the
Securities Act of 1933 to promote more efficiency and lower costs in the
capital-formation process. He knows where additional exemptive action or
repeal is needed--as in the Public Utility Holding Company Act, for
example--and he will be a knowledgeable and effective ally of the
Administration, including Cabinet officers, and the Republicans on the Hill,
in promoting further reform and efficiency.
c. Doty will get the agency behind the President's proposal to
create individual retirement investment accounts for all members of the
workforce. He is committed to helping the Administration get this done when
they decide to push for it, and knows how the issues of safety can be
practically addressed and the technical objections of critics overcome.
d. Doty is a consensus-builder, a good listener and an effective
communicator. He is a Texan, a Rhodes Scholar and graduate of Rice
University. He has been active in the communities in which he has lived
(Senior Warden of Christ Church Cathedral in Houston, Vestryman of St.
John's Lafayette Square in D.C.). He is a good family man--his wife of 29
years presently serves in the First Lady's Correspondence Office. As a
BakerBotts Senior Partner, Doty can afford to do this for the sake of the
job well done and is not attempting to "polish his resume" for another job.
e. Most important, Doty has worked tirelessly for this President,
knows the President and his style, and is loyal to the President. He wants
the President to succeed and will work hard to make sure the policies and
practices of the SEC reflect well on the President and his Administration. |
FYI--
The information below is an excellent overview of the procedures our administrative personnel will be using when handling and distributing your mail into mail folders. However, all administrative personnel in the Portland Enron WTC offices have received a hard copy of the guidelines and procedures issued by Oregon Department Administrative Services. This four-page document has detailed guidelines and instructions for mail/parcel handling. If you would like to get a copy of these guidelines, ask your administrative assistant or you can contact Debra Davidson to get a copy. The World Trade Center Mailroom has informed Debra that they are also screening mail for lumps, powdery substances, unusual written comments on envelopes, etc. If they detect a suspicious piece of mail or package addressed to our office, they will notify us as well as the proper authorities.
If you have any questions or concerns, please see me or Debra Davidson.
-----Original Message-----
From: Enron Announcements/Corp/Enron@ENRON On Behalf Of John Brindle, Business Controls@ENRON
Sent: Wednesday, October 17, 2001 7:42 PM
To: Enron Employees ---- Domestic@ENRON
Subject: Anthrax and other Biological Agent Threats
We understand that the recent cases of Anthrax contamination and the possibility that biological agents such as Anthrax may be used in a terrorist attack are raising great concerns among Enron employees. Many government and commercial facilities in the United States have already received Anthrax threat letters containing powdery substances. Most of these have, however, been determined to be false alarms. We have no reason to believe that Enron has been or will be the target of an Anthrax attack, but we want to provide all employees with background information on Anthrax and up-to-date guidance for handling any possible Anthrax exposures.
If you have additional questions or concerns, please contact Corporate Security in Houston at (713) 345-2804 or via email at [email protected].
The most important thing to remember is: Do not panic. To infect someone, the Anthrax organism must be rubbed into abraded skin, swallowed, or inhaled as a fine, aerosolized mist. Infection can be prevented after exposure to Anthrax by early treatment with the appropriate antibiotics. Anthrax cannot be spread from one person to another.
Following are guidelines for identifying and dealing with suspicious letters or packages:
What constitutes a suspicious letter or parcel? (Remember, these are only guidelines. Use your best judgment when determining if a letter or package is suspicious.)
-- It is marked with the word "Anthrax."
-- It has a non-identifiable powdery substance on the outside.
-- It is unexpected or from someone unfamiliar to you.
-- Is addressed to someone no longer with your organization or is otherwise outdated.
-- Has no return address, or has one that cannot be verified as legitimate.
-- Is of unusual weight, given its size, or is lopsided or oddly shaped.
-- Has an unusual amount of tape on it.
-- Is marked with restrictive endorsements such as "personal" or "confidential".
-- Has a strange odor or stain.
-- Shows a city or country in the postmark that does not match the return address.
What do I do if I receive such a letter or package that I believe contains Anthrax?
-- Do not shake or empty the contents of any suspicious envelope or package.
-- Place the envelope or package in a plastic bag or some other type of container to prevent leakage of contents.
-- If you do not have any container, then cover the envelope or package with anything (e.g., clothing, paper, trash can, etc.) and do not remove this cover.
-- Leave the room and close the door, or section off the area to prevent others from entering (i.e., keep others away).
-- Wash your hands with soap and water to prevent spreading any powder to your face.
-- Notify your local building security official or an available supervisor. Have them call 911 to alert the local police authorities.
-- List all people who were in the room or area when this suspicious letter or package was recognized. Give this list to both the local public health authorities and law enforcement officials for follow-up investigations and advice.
If you open an envelope or package and a suspicious powder spills out:
-- Do not try to clean up the powder. Cover the spilled contents immediately with anything (e.g., clothing, paper, trash can, etc.) and do not remove this cover!
-- Leave the room and close the door, or section off the area to prevent others from entering (i.e., keep others away).
-- Wash your hands with soap and water to prevent spreading any powder to your face. Report the incident to your local building security official or an available supervisor. Have them call 911 to alert the local police authorities.
-- Remove heavily contaminated clothing as soon as possible and place in a plastic bag, or some other container that can be sealed. This clothing bag should be given to the emergency responders for proper handling.
-- Shower with soap and water as soon as possible. Do not use bleach or other disinfectant on your skin.
-- If possible, list all people who were in the room or area, especially those who had actual contact with the powder. Give this list to both the local public health authorities so that proper instructions can be given for medical follow-up, and to law enforcement officials for further investigation. |
Isabel and Greg:
Attached is an escrow instruction letter authorizing you to hold the
documents referenced in the memorandum in trust until the closing
transaction.
Jaap, you are authorized to fax the documents that you have to Isabel at 212
277 4001 and to Greg at 203-359-3031. As the funding is contingent on them
seeing our fax documents first, we will have to send them now (or no later
than 9 CST) or the funding doesn't occur.
Call me if you have any questions.
Kent
-----Original Message-----
From: PARKER, Isabel [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 5:18 PM
To: 'Shoemaker, Kent (GEAE)'
Cc: Gregory F. Lang (E-mail)
Subject: RE: GE guaranty, opinion of counsel and letter of credit
This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status. Please notify
us immediately by reply e-mail and then delete this message from your
system. Please do not copy it or use it for any purposes, or disclose its
contents to any other person: to do so could be a breach of confidence.
Thank you for your co-operation. Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email [email protected]
if you need assistance.
This seems fine. You might want to add the GE acknowledgement of receipt of
funds, which, as we are holding documents in escrow until monies are
received by GE, can also now be signed in advance.
As to the opinion, we would prefer it to be executed by Dan Rowley or
yourself, rather than by you per personam Dan Rowley.
Let me know if this is possible
Thanks
Isabel
-----Original Message-----
From: Shoemaker, Kent (GEAE) [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 5:14 PM
To: 'PARKER, Isabel'
Cc: Gregory F. Lang (E-mail)
Subject: RE: GE guaranty, opinion of counsel and letter of credit
Will this work? Is this correct list of documents
-----Original Message-----
From: PARKER, Isabel [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 5:06 PM
To: 'Shoemaker, Kent (GEAE)'
Cc: Gregory F. Lang (E-mail)
Subject: RE: GE guaranty, opinion of counsel and letter of credit
This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status. Please notify
us immediately by reply e-mail and then delete this message from your
system. Please do not copy it or use it for any purposes, or disclose its
contents to any other person: to do so could be a breach of confidence.
Thank you for your co-operation. Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email [email protected]
if you need assistance.
Can we not fax the document to Dan Rowley and ask him to fax it back to us?
That way he doesn't need to print it out. Alternatively, do you have
authority to issue the opinion yourself?
Isabel
-----Original Message-----
From: Shoemaker, Kent (GEAE) [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 5:04 PM
To: 'PARKER, Isabel'
Subject: RE: GE guaranty, opinion of counsel and letter of credit
I trust both of you as attorneys to hold in escrow. This is an
administrative problem. Dan Rowley cannot get to a printer in time. Can I
sign Dan Rowley name by Kent shoemaker and fax it out to you.
-----Original Message-----
From: PARKER, Isabel [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 4:56 PM
To: 'Shoemaker, Kent (GEAE)'
Cc: Gregory F. Lang (E-mail)
Subject: RE: GE guaranty, opinion of counsel and letter of credit
This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status. Please notify
us immediately by reply e-mail and then delete this message from your
system. Please do not copy it or use it for any purposes, or disclose its
contents to any other person: to do so could be a breach of confidence.
Thank you for your co-operation. Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email [email protected]
if you need assistance.
That is fine but if you can also fax the documents to me at the same time at
212 277 4001, that would be good.
I agree with the Escrow Letter in principle - who would you want to sign
such a letter? Presumably Salmon, as beneficiary of the guarantee?
Thanks
Isabel
-----Original Message-----
From: Shoemaker, Kent (GEAE) [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 4:53 PM
To: 'PARKER, Isabel'
Subject: RE: GE guaranty, opinion of counsel and letter of credit
Greg Lang at Paul Hastings has requested that the fax documents be sent to
him. Is that okay? I need to create an Escrow Letter that says the
documents cannot be released until funding. I don't want a guaranty out
there without a closing.
Kent
-----Original Message-----
From: PARKER, Isabel [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 4:03 PM
To: '[email protected]'; [email protected]
Cc: [email protected]; [email protected]; VAN DUSEN, Nicholas
Subject: RE: GE guaranty, opinion of counsel and letter of credit
This e-mail is confidential and may well also be legally privileged. If you
have received it in error, you are on notice of its status. Please notify
us immediately by reply e-mail and then delete this message from your
system. Please do not copy it or use it for any purposes, or disclose its
contents to any other person: to do so could be a breach of confidence.
Thank you for your co-operation. Please contact our
IT Helpdesk on +44 (0) 20 7936 4000 Ext.2000 or email [email protected]
if you need assistance.
Our credit documentation provides that Pegasus shall not cause any monies to
be released from the Turbine Escrow Account until all relevant documentation
has been executed and delivered, namely:
(i) GE consent
(ii) GE opinion
(iii) Turbine Contract
(iv) Security Agreement
(v) Promissory Note
(vi) Amended Salmon LLC Agreement
(vii) GE Parent Guarantee.
The lenders consequently expect to see an executed (faxed if necessary) copy
of all of the above (including the GE Parent Guarantee) prior to release of
funds from the Escrow Account.
Thank you
Isabel
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, May 01, 2001 3:55 PM
To: [email protected]; [email protected]
Cc: [email protected]; [email protected]
Subject: GE guaranty, opinion of counsel and letter of credit
In conversations with GE, it is their understanding that their guaranty
will not be transmitted until there is a fed ref number tomorrow. The
opinion letter will be faxed as soon as the GC is available, or Kent can
sign for Dan Rowley if that is acceptable. DRowley can sign originals on
Thursday.
The LOC is in the works, and GE understands that 10% will be retained in
escrow until the LOC is delivered.
There will be three original opinions. There is one original guaranty, and
I'm not certain of GE's willingness to give more than that. Obviously,
there will be only one LOC.
Kay
- Escrow Instructions Letter.doc |
User ID: enron
PW: library
-----Original Message-----
From: "Law.com/tx" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Law+2Ecom_tx+22+20+3Ctx+5Fcase+5Falert+2B387175+2E153596706+2E1+40reply+2Elaw+2Ecom+3E+40ENRON@ENRON.com]
Sent: Thursday, September 06, 2001 1:01 AM
To: Hu, Sylvia
Subject: Texas Case Alert, September 6, 2001
||||||||||||||||||||||||||||||||||||||||||||
L A W . C O M / T E X A S
C A S E A L E R T
for
S E P T E M B E R 6, 2 0 0 1
<http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740352>
||||||||||||||||||||||||||||||||||||||||||||
*Texas Courts of Appeal*
CRIMINAL LAW - OFFICER JURISDICTION
Gerron v. State
Municipal police can arrest a person outside their geographic
jurisdictional area and without a warrant when the person commits
any offense in the officer's presence or view, except a traffic
violation. Waco Court of Appeals, No. 10-00-066-CR; Posted August
31, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740353
CRIMINAL LAW - ORGANIZED CRIME
Goodwin v. State
Texas Rule of Appellate Procedure 25.2(b)(3) does not apply to
issues raised in a post-adjudication appeal that are unrelated to
the conviction; the rule continues to apply to conviction-related
issues. Waco Court of Appeals, No. 10-00-285-CR; Posted August 31,
2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740354
EMPLOYMENT LAW - BREACH OF CONTRACT
Runge v. Raytheon E-Systems, Inc.
The Sabine Pilot exception to the employment-at-will doctrine does
not extend to those individuals terminated from their jobs for
reporting illegal activities. Waco Court of Appeals, No.
10-00-013-CV; Posted August 31, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740355
EMPLOYMENT LAW - RETALIATION
Alayon v. Delta Air Lines, Inc.
Summary judgment against employee who accused his employer of
retaliation reversed where employee's evidence showed that the
employer had knowledge that the employee had filed a workers'
compensation before he was fired. Waco Court of Appeals, No.
10-99-297-CV; Posted August 31, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740356
CIVIL LITIGATION - SANCTIONS
Adkins Services, Inc. v. Tisdale Company, Inc.
Imposition of a sanction is proper if there is a direct
relationship between the offensive conduct and the sanction
imposed, and the sanction is not excessive. Texarkana Court of
Appeals, No. 06-00-00096-CV; Posted August 31, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740357
FAMILY LAW - CONSERVATORSHIP
In the Interest of C.R.T.
In debating whether to appoint a parent or non-parent as managing
conservator, the statute requires the court to presume that the
best interests of a child lay in appointing a biological parent,
but the presumption is rebuttable. Amarillo Court of Appeals, No.
07-00-0456-CV; Posted August 31, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740358
CIVIL LITIGATION - CONTINUANCE
In Re: North American Refractories Co.
The relator filed a proper motion for continuance based in part on
the vacation letter and the mandatory language of Rule 11 of the
Regional Rules of Administration for the Second Administrative
Judicial Region of Texas, therefore, once the motion was filed
invoking the rule, the trial court had no discretion to ignore the
mandatory language in the rule. Beaumont Court of Appeals, No.
09-01-270-CV; Posted August 30, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740359
HEALTH CARE - IMMUNITY
Spindletop MHMR v. Doe
The Legislature consented in Texas Health and Safety Code
?321.003(b) to suit against publicly operated mental health
facilities for alleged violations of ?321.003(a). Beaumont Court
of Appeals, No. 09-01-224-CV; Posted August 30, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740360
INSURANCE LAW - CAPACITY
Guillory v. Service Life and Casualty Insurance Co.
As a party to the credit life application, appellant has capacity
to institute a lawsuit against the other party to the contract
because capacity to sue involves the legal authority to act,
regardless of whether said party has a justiciable interest in the
controversy. Beaumont Court of Appeals, No. 09-01-036-CV; Posted
August 30, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740361
FAMILY LAW - CHILD SUPPORT
In the Interest of B.C.
The provisions of the UIFSA control in a case involving a Missouri
judgment whose enforcement is sought in Texas. Beaumont Court of
Appeals, No. 09-00-323-CV; Posted August 30, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740362
REAL ESTATE - EASEMENTS
Akers v. Stevenson
Evidence concerning personal or family history, and boundaries of
or customs affecting lands in the community, are exceptions to the
hearsay rule. Beaumont Court of Appeals, No. 09-00-313-CV; Posted
August 30, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740363
TORTS - IMMUNITY
Thompson v. City of Corsicana Housing Authority
Although Texas Local Government Code ?392.006 appears to
constitute a limited waiver of a housing authority's immunity from
a suit brought under chapter 92, it does not waive a housing
authority's immunity from a suit for personal injuries. Waco Court
of Appeals, No. 10-99-352-CV; Posted August 29, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740364
CRIMINAL LAW - POSSESSION
Gill v. State
The State must prove sufficient "affirmative links" in every
possession case, but the links that must be proved will vary
depending on the nature of the accused's possession of the
contraband. Waco Court of Appeals, No. 10-00-005-CR; Posted August
29, 2001.
http://tm0.com/sbct.cgi?s=153596706&i=387175&d=1740365
||||||||||||||||||||||||||||||||||||||||||||
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_________________________________________________________________
B R E A K F A S T W I T H T H E F O O L
Tuesday, October 24, 2000
[email protected]
_________________________________________________________________
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ACTIVISION LANDS HIGH SCORE
Activision tops estimates. Game on!
By Rick Aristotle Munarriz
The game's afoot for software specialist Activision (Nasdaq:
ATVI). The popular video game maker trounced analyst estimates
like a Quake baddie in one of its console ports.
http://www.lnksrv.com/m.asp?i=165621
Earnings more than quadrupled to $0.17 a share, a stunning eight
cents above Wall Street projections. Revenues climbed by 25% to
$144.4 million with the peak holiday shopping season right
around the corner.
But, as we noted last week, delays in mass shipments of the
highly anticipated PlayStation 2 might hose down some of that
red-hot momentum with the video game powerhouses. Without enough
systems to meet seasonal demand, and few gamers willing to
stockpile games for platforms on the way out, how will
Activision perform?
http://www.fool.com/m.asp?i=165622
The company is now hiking its annual bottom-line forecast by
seven cents to $0.63 a share. The only problem is that the
company used up eight of those upwardly revised coppers this
past quarter. That means that the game maker is looking to fall
a penny short in either the December or March reporting period.
That might happen later rather than sooner. Since mid-September
the company's Tony Hawk's Pro Skater 2 has been the top-selling
title for the top-selling PlayStation system. While we are now
just two days away from the PlayStation
2 launch, the extreme skating title should continue to roll
along nicely in the near term.
Activision -- the subject of StockTalk last April -- is the
country's second-largest developer of game console software,
behind only Electronic Arts (Nasdaq: ERTS). The company is
looking for flat growth over the year ahead but a 50% spike come
calendar year 2002.
http://www.fool.com/m.asp?i=165623
So the past looks great. The long-term appears equally aglow.
It's the near-term that might have investors fumbling for the
pause button.
_________________________________________________________________
NEWS TO GO
Winning the battle but Lucent (NYSE: LU) the war, the
telecommunications titan reported earnings of $0.18 a share, a
penny above estimates. The problem? Analysts were looking for a
$0.29 showing before the company gave Wall Street downward
guidance due to soft equipment sales. That prompted the bar
being lowered to a height of $0.17 a share. Over the weekend,
the company's board of directors fired its CEO. Reserve the
right to do the same to anyone who naively tells you that Lucent
is back on track because it topped fourth-quarter projections.
http://www.fool.com/m.asp?i=165624
http://www.fool.com/m.asp?i=165625
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pharmaceuticals powerhouse reported earnings of $0.27 a share on
revenues of $7.2 billion. The results came in two cents ahead of
expectations. For the year, the company is comfortable with
targets of $30 billion in revenue and $1.01 a share in earnings.
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MsgId: msg-16151-B10242676Address.msg-09:02:00(10-24-2000)
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USA: Enron opens steel products depot in Chicago.
Reuters English News Service, 10/01/01
Enron, Switzerland's EWZ Form Trading Joint Venture
Dow Jones Energy Service, 10/01/01
UK: U.S. Enron, Swiss EWZ sign power trading jv.
Reuters English News Service, 10/01/01
USA: Enron shrs rise on India stake sale talk.
Reuters English News Service, 10/01/01
USA: Shares of NewPower plummet in midday trade.
Reuters English News Service, 10/01/01
Greece's Development Ministry Grants New Electricity Licenses
Bloomberg, 10/01/01
USA: Enron opens steel products depot in Chicago.
10/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
HOUSTON, Oct 1 (Reuters) - Enron Corp. said on Monday it had opened a depot to store specific types of hot and cold rolled steel coils for "just-in-time" delivery to customers in the Chicago area, creating a spot market for steel in that city.
The Houston-based energy and commodities trading giant said it will be able to supply customers from its depot within 48 hours, enabling it to reduce the amount of inventory they store themselves and cut the length of time they hold on to inventory.
"By creating commodities out of similar commercial-grade products, Enron provides valuable pricing benchmarks for base products, against which premiums can be set for any enhanced products and risk management services," Jeff McMahon, president and CEO of Enron Industrial Markets said in a statement.
In addition to its core natural gas and electricity operations, Enron is also active in markets such as pulp and paper, metals, and telecommunications bandwidth.
Enron began offering financial steel swaps in November 2000 and today provides a range of physical products and risk management services to buyers and sellers of steel products through its steel desk and its EnronOnline trading platform.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron, Switzerland's EWZ Form Trading Joint Venture
10/01/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
LONDON -(Dow Jones)- Enron Corp (ENE) and EWZ, the municipal power company of Zurich, said Monday they have formed a trading joint venture located in Zurich, to go into effect Oct. 1.
The JV, already approved by the city council of Zurich on Sept. 26, will be jointly managed by EWZ and Enron and will focus on energy trading, portfolio management and powerplant optimization in the wholesale markets in Switzerland and neighboring countries.
"The synergies will enable EWZ to offer more choice in products and services to its customers," EWZ managing director Conrad Amman said in a statement.
"In this JV Enron is looking forward to work together with an established and forward-thinking market player like EWZ with its many years of experience in the operation of hydraulic power plants and its well-established customer relations," said Peter Heydecker from Enron, who will be co-CEO of the venture.
website:
www.enroneurope.com
www.ewz.ch
-By Geoffrey T. Smith, Dow Jones Newswires; (+44 20) 7842 9260; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
UK: U.S. Enron, Swiss EWZ sign power trading jv.
10/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
LONDON, Oct 1 (Reuters) - U.S. energy company Enron and EWZ, municipal utility for the Swiss city of Zurich, said on Monday they had set up a power trading joint venture which would start operating at the end of October.
The joint venture, which has already been approved by the city council of Zurich, will be jointly managed by both companies and focus on trading in the wholesale markets in Switzerland and neighbouring countries.
"The JV combines EWZ's long-established extensive knowledge of the Swiss market and Enron's trading and risk management expertise," said Conrad Ammann, managing director of EWZ, in a statement.
Swiss market is not open to competition but electricity companies trade with each other and with counterparts in other countries.
The Swiss are expected to vote on referendum in June next year on electricity liberalisation.
EWZ is one of the seven largest electricity companies in Switzerland with 250,000 customers who buy three terawatt hours a year.
Its total production is five terawatt hours a year from nuclear and hydro plants.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Enron shrs rise on India stake sale talk.
10/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Oct 1 (Reuters) - Shares of electricity and natural gas marketer and trader Enron Corp. on Monday rose 4 percent after India's largest private utility said it was in preliminary talks to buy Enron's share of the troubled Dabhol Power power plant in India.
Enron's shares gained $1.21 to $28.44 Monday on the New York Stock Exchange.
Tata Power, India's largest private utility, said it was in early talks to buy Enron's 65 percent share of the $2.9 billion Dabhol Power unit.
Dabhol has faced problems ever since it was forced to shut its 740-megawatt plant on India's west coast in June after its sole customer, a local state utility, stopped buying power. It also defaulted in earlier payments.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Shares of NewPower plummet in midday trade.
10/01/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Oct 1 (Reuters) - Shares of electricity provider NewPower Holdings were down almost 20 percent on Monday on the New York Stock Exchange, but the company had no comment on the share drop.
Shares of NewPower were down 55 cents, or 17.9 percent, to $2.53 in midday trade on the New York Stock Exchange.
"We don't comment on stock activity. We are reporting our earnings in November," said Gael Doar, spokeswoman for NewPower.
NewPower, which bills itself as the first national provider of electricity and natural gas to residential and small commercial customers, recently became the outside provider with the greatest share for competitive energy providers as part of the Texas's deregulation.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Greece's Development Ministry Grants New Electricity Licenses
2001-10-01 11:42 (New York)
Athens, Oct. 1 (Bloomberg) -- Greece granted 10 licenses to
foreign companies to provide and produce electricity, as the country
deregulates its energy market.
Cinergy Corp., an Ohio-based electricity and gas utility, Enron
Corp.'s U.K. unit, Enel SpA, Italy's largest power company, and the
Swiss Atel Group, were each awarded permits to operate electricity
transmission units totaling 1,100 megawatts, the Development Ministry
said in a statement.
Michaniki, Aegek, Aluminium of Greece, Cinergy & Energa
Consortium, as well as the Kavala CCGT Power Plant Consortium, each
were awarded permits for electricity production plants totaling 954
megawatts.
Greece, which opened up the market to competition in February,
has said that it will allow private companies to provide no more than
30 percent of the country's total energy production, while Public
Power Corp., the former electricity monopoly, will produce the rest. |
Here are possible Q's. Dan W. will prepare first cut at answers.
Questions for January 31 Hearing
Price Gouging
? On January 22, your company reported fourth-quarter results for
2000, in which you showed that profits from your energy trading unit rose
256 percent and your overall earnings rose 34 percent. How much of this was
attributable to increased sales in California? How much did you make from
sales in California?
? What is the highest per kilowatt-hour price Enron charged on the
spot market? What is the cost of production for that power?
? In a recent Houston Chronicle article (January 23, 2001), Mr.
Skilling, your CEO was quoted as saying that not only had the California
situation not had an impact on earnings, but that "it may even turn out to
be a benefit in the long run." Can you please explain the long-term
benefits you expect?
? In a recent New York Times column by Paul Krugman, Ken Lay was
quoted as saying that California consumers "need to see the price signals
that is, pay much more and start modifying behavior to reduce demand until
we get more supplies." What did Mr. Lay mean by this? With the tremendous
profits that Enron is making in this situation, isn't it pretty brazen for
him to be suggesting that California consumers should pay more for their
power?
Market Manipulation
? A number of generators and wholesalers, including Enron, have been
accused of withholding energy to drive up energy prices in the Western
states. I understand that you are being sued in state court in San
Francisco for such activities and an independent monitor has supported these
allegations. Does Enron currently have any generation assets off-line for
maintenance? Did Enron make all of its generated power in the Western
states available for purchase by California utilities? If not, why did it
withhold power? How much did you withhold or sell in other states despite
knowing of the crisis in California?
? At the time that the spot market collapsed and two of California's
largest utilities were teetering on the verge of bankruptcy, what price was
Enron asking for its power on the spot market? What was Enron's cost of
producing that power? How much profit did you make in December from sales
in California?
? Did Enron ever refuse to sell power to a California utility because
of concerns about their credit worthiness? Did your company ever tell
California utilities that it would not sell power to them because of credit
concerns?
? Do you believe that Enron has any responsibility as a corporation in
a crisis such as occurred in California? How do you justify making such
large profits, driving the utilities into bankruptcy and then refusing to
sell power to those same utilities because of their credit worthiness?
Utility Forbearance & Auction
? California clearly has a significant problem with the potential
bankruptcy of two of its largest utilities. How much money do those
utilities owe your company? Has your company offered any payment
forbearance or forgiveness in light of the excessive prices that you were
charging them on the spot market for power?
? California held an Internet auction last week for long-term
contracts for sale of power to the state. Did Enron participate in the
auction? What price did you offer for power in non-peak times? What price
did you bid for power during peaking periods?
? Your company has successfully gouged the utilities in California for
power on the spot market because long-term contracts were discouraged. Now,
you are looking to enter into long-term contracts, which many experts
believe will be at rates far above the market in the future. You really are
going to profit coming and going. How can you claim that you are not price
gouging in this case?
? In the past, you have offered power to California utilities in
long-term contracts at rates less than $.06 per kilowatt-hour. How do you
justify previously offering power at much lower rates and now saying that
you are unable to provide it for less than a much higher price?
Role in California Deregulation
? Your company was supportive of the California deregulation efforts
and has been a leading supporter of deregulation nationwide. In light of
the "colossal failure" of the effort in California, do you still support
deregulation in other states or at the federal level? What safeguards would
you support to protect against increased rates for consumers?
The Future
? California is likely to enact a legislative fix to address this
problem. What do you think will happen this summer during peak demand
periods? Is there another crisis in the making in California or in other
states such as New York?
Political Contributions & Activities
? Your company has been very active politically and according to press
reports, Mr. Lay is very close to President Bush. Wasn't your company one
of the biggest donors to the Bush Campaign and the Inaugural Committee? How
much money did your company contribute in soft money to the Bush Campaign
and the RNC? How much money did your executives give in personal money to
the Bush Campaign and the RNC? How much to the inaugural?
? Has anyone from Enron participated in the Bush transition teams or
the so-called "advisory committees?"
? What information and suggestions has your company or its officials
provided to the transition team or the new Administration regarding energy
deregulation or the California situation?
? What discussions have officials from your company had with
Administration or Transition officials about the California situation?
Softball Questions
? In the short term and then in the long term, what can California do
to fix its power supply system?
? What do you believe are the flaws in the current California system?
The Power Exchange? The Independent System Operator?
? Why did deregulation fail in California?
? Some people, including Governor Davis, have suggested that
out-of-state power suppliers, such as Enron, are to blame for this crisis,
is that true?
? Some people in California have suggested that the State should take
over the power system. Please comment on this proposal. Is this a good
idea?
? In which states has deregulation worked? How do you explain the
success in those states in contrast with the failures in California?
? This Committee will likely consider deregulation legislation at some
point in the future. Should we undertake this effort? |
Relax and shop at the same time with our new holiday items!
In This Issue:
Start Your Christmas Shopping From Home
A Peek at our Christmas Department
Harriet's Holiday Safety Tips
A Favorite Holiday Drink for Friends and Family
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Harriet's Holiday Safety Tips:
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Trees:
? Select only a freshly cut tree. The needles should not be
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? Keep the tree outside or in a garage until you're ready to
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? A diagonal cut in the tree trunk will allow the tree to absorb
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? Trees should be at least three feet away from heat sources such
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Holiday Lights:
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Harriet Carter
The HarrietCarter.com Newsletter Club, Volume 40
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You know you got me all fired up now, I am going to put on the full court press to keep the tradition alive. I am attaching a map from El Cajon to Houston for driving directions. They say it will take 24+hours, I calculated the time and I think the jilly mobile can do it in 20. Ashley is probably going to drive the Burban over to NO and I am going to fly because of work. So you guys only have to drive to Houston and she will do the rest. Sounds like a good idea to me(yeah right). I will even throw in a Love trip back to SD this summer/fall if I can get a visit in April. Two for one baby, you can't get a deal better than that except at Costco. Plus, I almost forgot the best part - we have a little TV for the burban so you could get a little MLB 2001 action on the way.....(give me enough time and I will keep it coming)
PL
P.S. - we also have the Milton's bread here(so you can make sandwiches for the trip to NO)
El Cajon, CA US Houston, TX US
Total Distance: 1455.80 miles Total Estimated Time: 24 hours, 26 minutes
</directions/main.adp?do=rev&1g=4cwja2rHsfPBNT6j8tKMQQ%3d%3d&1y=US&2s=TX&2c=Houston&1l=QnkhHLATxBs%3d&2g=6aNHiWDBE2s%3d&did=1010591674&un=m&2y=US&1s=CA&1c=El%20Cajon&2l=nqalDzEkLuc%3d&go=1&ct=NA> </directions/main.adp?do=rev&1g=4cwja2rHsfPBNT6j8tKMQQ%3d%3d&1y=US&2s=TX&2c=Houston&1l=QnkhHLATxBs%3d&2g=6aNHiWDBE2s%3d&did=1010591674&un=m&2y=US&1s=CA&1c=El%20Cajon&2l=nqalDzEkLuc%3d&go=1&ct=NA> </directions/main.adp?do=fl&1g=4cwja2rHsfPBNT6j8tKMQQ%3d%3d&1y=US&2s=TX&2c=Houston&1l=QnkhHLATxBs%3d&2g=6aNHiWDBE2s%3d&did=1010591674&2y=US&1s=CA&1c=El%20Cajon&2l=nqalDzEkLuc%3d&go=1&ct=NA> </directions/main.adp?do=fl&1g=4cwja2rHsfPBNT6j8tKMQQ%3d%3d&1y=US&2s=TX&2c=Houston&1l=QnkhHLATxBs%3d&2g=6aNHiWDBE2s%3d&did=1010591674&2y=US&1s=CA&1c=El%20Cajon&2l=nqalDzEkLuc%3d&go=1&ct=NA>
DIRECTIONS DISTANCE
1: Start out going West on E MAIN ST towards S MAGNOLIA AVE by turning left. 0.03 miles
2: Turn RIGHT onto N MAGNOLIA AVE. 0.47 miles
3: Take the I-8 E ramp towards EL CENTRO. 0.28 miles
4: Merge onto I-8 E. 331.60 miles
5: Take the I-10 E exit- exit number 178A- towards TUCSON. 0.57 miles
6: Merge onto I-10 E. 926.69 miles
7: Take the I-35 N exit- exit number 570- on the left towards AUSTIN. 0.34 miles
8: Merge onto I-35 N. 5.31 miles
9: Take the I-410 S exit- exit number 162. 0.41 miles
10: Keep LEFT at the fork in the ramp. 0.14 miles
11: Keep LEFT at the fork in the ramp. 0.42 miles
12: Merge onto I-410 S. 0.86 miles
13: Take the I-10/US-90 exit- exit number 33- towards SAN ANTONIO/HOUSTON. 0.14 miles
14: Keep LEFT at the fork in the ramp. 0.26 miles
15: Keep RIGHT at the fork in the ramp. 0.28 miles
16: Keep LEFT at the fork in the ramp. 0.26 miles
17: Merge onto I-10 E. 187.19 miles
18: Take the SMITH ST exit- exit number 769A- towards DOWNTOWN. 0.38 miles
19: Turn LEFT onto FRANKLIN ST. 0.09 miles
20: Turn RIGHT onto MILAM ST. 0.09 miles
Total Estimated Time: Total Distance:
24 hours, 26 minutes 1455.80 miles
-----Original Message-----
From: "Mike Jillard" <[email protected]>@ENRON
Sent: Wednesday, January 09, 2002 9:37 AM
To: Love, Phillip M.
Subject: RE: gettin jilly with it
PL.
We are doing good. I hope all is well with all of the junk you are going
through.
It looks like Steve went out on top! I think that the Chargers are too cheap
to hire him. Emma
is doing great. I liked the pictures that Ash sent. Jackson has a hat on and
there is a joker
on a pogo stick. Also the picture of J Bug and Tory was great. Trying to
impress the
ladies with his musical talents. I think that the tradition may end this
year. I know that
if we came we would have to drive. Denise will not fly.
We are going to miss you this year. There will probably be some great acts.
Talk to you soon.
Jilly With It
-----Original Message-----
From: Love, Phillip M. [mailto:[email protected]]
Sent: Tuesday, January 08, 2002 11:11 AM
To: Mike <mjillard (E-mail)
Subject: gettin jilly with it
What is up my California buddy? Staying out of trouble? Things are going
pretty good here. You believe Steve Spurrier? IT is a great deal for
Auburn and the SEC. Time for a new dog to get on top. What is my little
friend Emma beans up to? I bet she is growing and talking up a storm. Are
you guys coming to the Fest this year? Just to offer you a little
encouragement, I found a special fare for you out there on southwest non
stop both ways....here is the link. Only $250 a person. Let me know big
dog. You know we can not have the tradition ended.
PL
http://iflyswa.com/cgi-bin/showOrPrice
**********************************************************************
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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======================== THE MOTLEY FOOL ========================
B R E A K F A S T N E W S
Thursday, September 20, 2001
[email protected]
=================================================================
IN THIS ISSUE
---------------------
- TOP STORY: Government Accelerates Aid to Airlines
http://www.fool.com/m.asp?i=499856
- NEWS TO GO: Knight-Ridder, 3Com, Tenet Healthcare
http://www.fool.com/m.asp?i=499857
- POST OF THE DAY: Biotech Stocks Anyone?
http://www.fool.com/m.asp?i=499858
=================================================================
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"Troubled times produce heroes."
-- Chinese proverb
-----------------------------------------------------------------
TOP STORY
-----------------------------------------------------------------
GOVERNMENT ACCELERATES AID TO AIRLINES
While Congress works on legislation that will provide financial aid to airlines,
President Bush will ask lawmakers to hand over $5 billion in immediate cash
to the shell-shocked industry. The Associated Press, quoting an anonymous administration
official, says the cash would be coupled with help for the airlines' insurance
liabilities.
The House of Representatives hopes to rush through a $24 billion aid package
that will be quickly sent to the Senate, and could possibly reach the president's
desk before next week. That package would include loans as well as some cash
that would not have to be repaid. Continental Airlines (NYSE: CAL) CEO Gordon
Bethune says the industry is currently losing $15 million per hour, and the
package is needed to restore some stability to the situation.
In the meantime, more airlines announced staff reductions after the market closed
yesterday. First, Mesa Air (Nasdaq: MESA) said it would cut 700 jobs and implement
a temporary 10% pay reduction for most employees. Senior management's pay has
already been reduced by 20%, and both the CEO and the company's president took
a 50% cut.
Later, heavyweights American Airlines parent AMR Corp. (NYSE: AMR) and United
Airlines parent UAL (NYSE: UAL) announced layoffs of some 20,000 employees
each. That represents 14% of American's staff, and 20% of United's. Following
Boeing's (NYSE: BA) actions Wednesday, job cuts now total almost 100,000
people industry wide.
http://www.fool.com/m.asp?i=499860
One company bucking the layoff trend, however, is SkyWest Airlines (Nasdaq:
SKYW). COO Ron Reber says no layoffs are in the works. The company's "plans
for growth are still intact," he says, and it still plans to take delivery of
the 106 Canadair Regional Jets it ordered from manufacturer Bombardier. SkyWest
operates as United Express and Delta Connection in 74 cities.
>>FULL STORY:
http://www.fool.com/m.asp?i=499861
-----------------------------------------------------------------
NEWS TO GO
-----------------------------------------------------------------
Media companies have also been adversely affected by the terrorist attacks.
Knight-Ridder (NYSE: KRI) and Tribune Co. (NYSE: TRB), which teamed up
in August to acquire online job recruitment site Headhunter.NET (Nasdaq: HHNT),
both came out with bad news after the bell yesterday. Knight-Ridder CEO Tony
Ridder says many advertisers pulled ads after the attacks, and, combined with
the increased expenses due to extended coverage of the tragedy, he expects about
a 25% year-over-year drop in earnings per share. Citing the same reasons, Tribune
expects third-quarter and full-year earnings to come in below expectations.
http://www.fool.com/m.asp?i=499862
The Securities and Exchange Commission says it doesn't yet know if those associated
with last Tuesday's hijackings also exploited the markets in order to profit
from the attacks. The agency says it's "vigorously pursuing all credible leads,"
but wouldn't release any other details.
Networking equipment maker 3Com (Nasdaq: COMS) reported fiscal first-quarter
results that saw revenue fall 58% from the same period last year. The company
also "found opportunities" to reduce staffing by another 1,000 people and expects
to end the quarter with 6,000 workers. It employed 12,000 last November.
The nation's number-two hospital operator, Tenet Healthcare (NYSE: THC), says
it will top estimates when it releases fiscal first-quarter earnings on Oct.
3. Its expected earnings per share of $0.65 - $0.67 would represent 35-40% growth
over last year.
Rex Moore's mental acuity has shown a 3%-5% year-over-year decrease, though
it's up inconsequentially sequentially. At press time he held no positions in
any of the companies mentioned in this article. The Motley Fool is investors
writing for investors.
http://www.fool.com/m.asp?i=499863
-----------------------------------------------------------------
POST OF THE DAY
-----------------------------------------------------------------
BIOTECH STOCKS ANYONE?
"I think the safest long term Biotech offerings are the larger pharmaceutical
manufacturers who are very active in R&D and or acquisitions AND are diverse
in their product markets."
>>FULL POST:
http://www.fool.com/m.asp?i=499864
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Legal Information: http://www.fool.com/m.asp?i=499871
MsgId: msg-9754-2001-09-20_10-29-50-3779074_2_Plain_MessageAddress.msg-10:31:06(9-20-2001)
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Message-Recipient: [email protected] |
Charles Schwab & Co., Inc.
Email Alert
Morning Market View(TM)
for Friday, November 23, 2001
as of 9:30AM EST
Information provided by Schwab Center for Investment Research
STOCKS MIXED IN TURKEY DAZE
Stocks were poised to open mixed on this shortened trading day
as America awakens from its traditional L-tryptophan stupor amid
very little corporate or economic news. The National Bureau of
Economic Research may declare the U.S. economy is in a
recession, but there is a silver lining. Oil and oil-related
shares fell overnight as Russia continues to rebuff OPEC
overtures, driving European bourses lower.
According to The Wall Street Journal, the NBER is meeting today
and may declare that the longest U.S. economic expansion since
World War II ended in March, when employment figures signaled
that a recession may have begun. While a general rule of thumb
for defining a recession is two consecutive quarters of negative
Gross Domestic Product growth, the NBER defines a recession in a
more subjective manner, utilizing key economic indicators.
If a recession did indeed start in March, that could actually be
a positive development, that is if history is any guide. Of
course there are no guarantees that the economy will stick to
historical norms, but the average recession since WWII lasted
for about 10.5 months, with the longest slump spanning 16
months. That could mean that a recovery is just around the
corner. Few economic indicators point to this scenario at this
time, nor do earnings forecasts, but Ned Davis research shows
that the markets have historically bottomed during a recession
roughly five months before the economy and about ten months
ahead of an earnings recovery. And there is a lot of monetary
and fiscal stimulus in the pipeline to support a recovery soon.
So, cheer up... the malls are opening early today!
----------------------------------------------------------------
TREASURY AND ECONOMIC SUMMARY
Prices across the yield curve rose in early trading as
Treasuries remain volatile, following last week's wild ride and
oil prices fell overnight. Oil prices were higher earlier after
Norway agreed to cut oil production, succumbing to OPEC pressure
to cap global production limits. However, Russia once again
rebuffed OPEC's threat of a price war if non-OPEC producers do
not cut production by a total of 500,000 barrels per day,
sending oil sharply lower. Russia said that it would cut output
by just 50,000 bpd, but it wants to wait until early next year
to discuss deeper cuts.
----------------------------------------------------------------
WORLD MARKETS
After trading higher earlier in the session, oil-related shares
led Bloomberg's European 500 Index down 1.2%, as of 8:55 a.m.
EST. The euro rose versus the U.S. dollar after it was reported
that French Gross Domestic Product rose 0.5% in 3Q, more than
the 0.3% rise forecast according to Bloomberg, and German
inflation remained tame in November. The British pound fell
after UK Prime Minister Tony Blair reignited talk of joining the
European Union, a move that Blair maintains would benefit the UK
economy but may require a weaker pound to gain entry.
Japan's markets were closed overnight for a holiday, but other
Asian markets were generally higher. The yen fell versus the
dollar after the Financial Times reported that the U.S. would
support a Japanese plan to buy more U.S. securities to help
weaken the yen.
----------------------------------------------------------------
FUTURES WATCH
In the December Globex futures contract as of 8:55 a.m. EST, the
S&P 500 index was 1.7 points lower while the Nasdaq 100 index
was up 3.5 points. The December DJIA futures contract was down
13 points.
David Kastner, Managing Market Analyst
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---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/03/2000
11:21 AM ---------------------------
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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Date: Sat, 15 Jan 2000 23:23:37 EST
Subject: Fwd: [Fwd: Fwd: Prayer Request]
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Date: of, 15 ssa 2000 09:40:34 -0600
From: "Roy Adger" <[email protected]>
To: <[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, "Eric Garrett"
<[email protected]>, <[email protected]>,
<[email protected]>
Subject: Fwd: [Fwd: Fwd: Prayer Request]
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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. |
Guys, it will be very difficult to get money out of the power group - is the
expectation that I come up with the dollars - just curious. Are we not
circumventing the spirit of the political contribution rules?
Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 10/06/2000
08:24 AM ---------------------------
Barbara A Hueter@EES
09/29/2000 02:32 PM
To: [email protected]
cc:
Subject: Support for key TN lawmakers
---------------------- Forwarded by Barbara A Hueter/DUB/EES on 09/29/2000
03:32 PM ---------------------------
Barbara A Hueter
09/29/2000 03:27 PM
To: Dave Delainey, John J Lavorato/Corp/Enron
cc:
Subject: Support for key TN lawmakers
---------------------- Forwarded by Barbara A Hueter/DUB/EES on 09/29/2000
03:27 PM ---------------------------
Barbara A Hueter
09/29/2000 03:24 PM
To: Dave Delaney, John Lavorado, Mitch Robinson/Corp/Enron, Ben Jacoby/HOU/ECT
cc: Richard Shapiro/HOU/EES@EES
Subject: Support for key TN lawmakers
Gentelmen,
Following is an email detailing requests for personal contributions to
legislators who have been instrumental to Enron regarding our power plants in
Tennessee. I produced this list based on recommendations from our lobbying
firm, Stokes Bartholomew, in Nashville.
In 1999, Stokes Bartholomew, working with Jordan Mintz in Enron's tax
department, convinced the state legislature to pass legislation clarifying
that Enron's power plants would be exempt from the gross receipts tax. Had
we not succeeded in the effort, we would have had to pay gross receipts taxes
of approximately $1.5 million per year.
In 2000, Tennessee is one of the only states in the union that has been
running a deficit in the general revenue fund. Rather than going home for
the summer, the legislature stayed in session and debated among themselves
and with the Governor on how to solve the revenue shortfall issue.
Eventually, they adopted unreasonably optimistic revenue projections to
produce a balanced budget (on paper). This has not solved the problem
because the state is already $100 million below revenue projections in the
first quarter of the fiscal year. The legislature will look for a long term
solution when it returns in January. Stokes Bartholomew informs me that all
sources of revenue will be considered - this means our exemption from the
gross receipts tax could possibly be repealed. At this time, no one is
singling this exemption out, but Stokes Bartholomew is cautious and is
monitoring the issue closely.
Numerous legislators supported the gross receipts legislation for Enron. If
our gross receipts tax exemption is threatened next legislative session, we
would have to return to these same legislators (if they are reelected) for
support. As long as Enron pays taxes in Tennessee, it behooves us to take an
active interest in supporting those legislators who will defend our interests
in the capitol.
Since you are the key contacts at Enron for Tennessee, I ask you to assess
this matter and decide whether ongoing legislative support is important to
Enron's interests in TN and make contributions accordingly.
I have recommended $9,500 in contributions. While this seems like a large
amount, it is miniscule in comparison to the taxes we are not paying.
Moreover, it will go a long way to helping us protect our interests against
those who would fight to have "big corporations", particularly out-of-state
corporations, get stuck with additional tax burdens to solve the state's
fiscal woes.
You are probably asking why we are not using Enron PAC funds or coroporate
funds to make these donations. Tennessee law prohibits us from using
corporate funds and limits the use of PAC funds to those PACs that do not
receive any source of support from the corporation. Because Enron Corp. pays
the expenses for the Enron PAC, we are not permitted to contribute Enron PAC
funds to candidates in Tennessee. This is one of the most onerous political
contribution laws in the country.
If you have any questions I can be reached for the next week at
614.306.4359. Or you can leave a message for me at 614.760.7472.
---------------------- Forwarded by Barbara A Hueter/DUB/EES on 09/29/2000
12:56 PM ---------------------------
Barbara A Hueter
09/14/2000 03:28 PM
To: Ben Jacoby
cc: Rick Shapiro, Janine Migden/DUB/EES@EES
Subject: Support for key TN lawmakers
Per our phone conversation, following is a list of key legislative leaders
deserving of Enron's support. This list has been developed by our
counsel/legislative agents in Nashville: Bill Bruce, Gif Thornton and Robert
Gowan.
Please feel free to call me to discuss further. You can reach me on my cell
phone this afternoon and all day tomorrow. I will be in the office on Monday.
Lieutenant Governor: Senator John Wilder (Democrat)
$2,500
Represents Brownsville in the Senate.
Sponsor of 1999 gross receipts tax exemption legislation for Brownsville.
Has a serious opponent this November.
The Senate elects the Lieutenant Governor who also serves as the head of the
Senate. It is in Enron's best interst that John Wilder win the election and
be re-elected Lieutenant Governor.
Rep. Jimmy Naifey
$1,000
Speaker of the House
Represents Brownsvile.
Senate Candidate Larry Trail (Democrat)
$2,000
John Wilder's personal mission, besides his own election, is to get Larry
elected to the Senate (it is an open seat that is being vacated by a
Democrat).
If the Democrats lose this seat there is a very good chance that Senator
Wilder will not be re-elected Lieutenant Governor because the Democrats will
have lost the majority in the Senate.
Rep. Matt Kisber (Democrat)
$1,500
Represents the Jackson area.
Very pro-business Democrat.
Is in a very tough race because the district was redrawn and it now majority
Republican.
Matt is the chair of the House Finance, Ways and Means Committee - which
hears all gross receipts tax matters.
Was very helpful to Enron on the gross receipts legislation.
Senator Jerry Cooper
$1,000
Chair of the Senate Commerce Committee
His committee hears all legislation relating to energy and power plants.
Rep. Shelby Rinehart
$500
Chair of Commerce Committe (all energy and power plant issues) and powerful
member of the House Finance and Ways and Means Committee.
He is extremely powerful. Bill, Gif and Robert have a very good relationship
and rely on him for assistance for their clients regularly.
Unless otherwise noted, checks should be make payable to "Friends of
_______________".
Please forward to Bill Bruce fo personal delivery. (or if you want to get
them to me I can pass them along)
Bill Bruce
Stokes, Bartholomew, Evans and Petree P.A.
Sun Trust Financial Center
424 Church Street, Suite 2800
Nashville, TN 37219-2386 |
BUSINESS HIGHLIGHTS
Enron Industrial Markets
The Transaction Development group (TD) is responsible for corporate development, transaction execution and portfolio management activities within EIM. TD is responsible for asset and corporate acquisitions to support EIM's efforts in the Forest Products and Steel industries. TD works with EIM's Forest Products and Steel Origination groups to structure and execute complex transactions for EIM's customers. TD also manages EIM's equity investments, such as EIM's ownership position in Papier Masson, Ltee, a paper mill in Quebec, Canada.
TD is comprised of approximately 20 professionals with a wide range of backgrounds including investment banking, commercial banking, management consulting, law, project development, accounting and engineering. In addition, the majority of the analysts and associates within EIM work in TD since it provides a strong base of deal experience for junior members of our organization.
Enron Freight Markets
Enron Freight Markets has continued to expand the transportation services offered to its customers and completed several flatbed truck moves outbound from Georgia this week. There was a shortage of flatbed equipment supply in this market and EFM was able to obtain more than three times the normal margin on each move.
IN THE NEWS
"Enron's bilateral internet trading platform, EnronOnline, was launched in November 1999 and is the largest e-commerce site on the planet based on the value of its transactions. As EPRM went to press, it had average daily trading volume of $3.5 billion, accounting for nearly 50% of the company's revenues from wholesale marketing activities." -- Energy Power Risk Management, May 2001
WELCOME
New Hires
EIM - Cheryl Lindeman
ENA - Chris Bystriansky, Paula Craft, Eugene Lee, Bhalachandra Mehendale, Sarah Wooddy
Transfers (to or within)
ENA - Grace Taylor, Steven Irvin, Dina Snow
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.
Travel tip of the week:
Flights reserved through Travel Agency in the Park provide you with $150,000 of flight insurance at no additional charge.
EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 29, 2001.
* Total Life to Date Transactions > 1,015,000
* Life to Date Notional Value of Transactions > $610 billion
NEWS FROM THE GLOBAL FLASH
Enron arranges first gas pipeline import into Italy
Enron has continued its pioneering activities in the Continental gas market by arranging the first gas import into Italy. The Italian team worked with the Continental Gas desk to arrange this strategically important agreement with Blugas SpA., the wholesale gas company formed by the municipalities of Cremona, Lodi, Mantova and Pavia in north-eastern Italy. Enron has sourced 100,000 cubic metres per day of natural gas from northern Europe to transport to Italy, transiting it through Germany and Switzerland, despite fierce resistance from Ruhrgas and TransitGas respectively.
Aside from isolated LNG imports by incumbent monopolies this is the first time that any company has managed to import natural gas by pipeline into Italy since the Italian gas sector was officially liberalised in August 2000. The gas, which started flowing at 06.00 on Thursday 17th May 2001, will be used to meet the needs of two thirds of Blugas' residential customers within the four municipalities. The current contract lasts for five months.
Congratulations to Fabio Greco, Carsten Haack, Didier Magne, Michael Schuh, Marco Lantieri and Daniela Uguccioni.
Enron in the Middle East
Enron has relinquished its stake in Dolphin Energy, the joint venture company formed to develop gas reserves in Qatar.
Enron has agreed to transfer its 24.5 per cent stake in the project to the United Arab Emirates Offset Group (UOG), the majority shareholder. The agreement allows Enron to deploy capital elsewhere and gives UOG the opportunity to seek new partners before the project moves into its next phase.
Development of the Emden/Oude gas hub moves ahead fast
An important milestone in the evolution of the new gas trading hub on the Dutch-German
border was reached last week. Last Friday some of the major European gas players held a meeting to officially establish the Emden/Oude gas hub. Although Enron had already initiated the development of the Emden/Oude hub by making a market through EnronOnline as early as December 2000, the goal of this meeting was to set up a working group similar to the Zeebrugge focus group who can work on setting a legal framework for the Emden/Oude hub.
Enron was elected as the only new market entrant in this group, reflecting the high level of respect industry peers have for Enron as a major player in the Continental gas market -- even from incumbents!
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 Picture (Metafile)> |
Tanya: Please see Vitol response below. Do you generate the credit
worksheet? How does London credit fit in here? Another interesting feature
here is the use of the multibranch provision for a trading company (Vitol
isn't a bank, or is it?). I have never seen this utilized in practice for a
non-bank entity and have resisted the idea for us. There is very little
written about the application of the multibranch party and I think that is
because it has been understood as applying to banks. However, would this
master be a "multibranch master" for us as well? Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 05/31/2000 10:30 AM -----
David Fransen <[email protected]>
05/31/2000 09:57 AM
To: "'Sara Shackleton'" <[email protected]>
cc: "Lee Munden (E-mail)" <[email protected]>, "David Hardy (E-mail)"
<[email protected]>, Gilbert Widmer <[email protected]>
Subject: Master Agreement (financial) between Enron North A merica Corp. (
"ENA") and Vitol S.A. ("Vitol")
Sara
Firstly, thanks for the message. I am indeed the right person for ISDA's in
Vitol. I did meet with your credit people in London ( David Hardy and Lee
Munden) and we did discuss the idea of replacing the existing agreement. I
am at present in our office in Rotterdam, but will be back in Geneva
tomorrow. I therefore do not have the existing agreement with me, but I seem
to remember that it is just signed with Vitol SA Inc, which is the US branch
office of the main trading company in the Vitol Group, Vitol SA, which is a
Swiss company registered in Geneva. I would suggest that you send us a
proposal for an ISDA agreement with Vitol SA, set up as a multibranch
company about to trade out of its Geneva and Houston office, and with Vitol
Holding BV (the ultimate parent company of the group) as the credit support
provider. I would hope that once we have agreed terms for the basic schedule
and credit support annex, we can then easily add other Vitol or Enron
companies as appropriate.
Regards, David
David Fransen
Vitol SA Geneva
Tel : 00-41-22-322-1111
**********************************************************************
This email and any files transmitted with it are confidential and
intended solely for the use of the individual or entity to whom they
are addressed. If you have received this email in error please notify
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**********************************************************************
-----Original Message-----
From: Sara Shackleton [mailto:[email protected]]
Sent: 31 May 2000 15:20
To: [email protected]
Subject: Undeliverable: Master Agreement (financial) between Enron North
A merica Corp. ( "ENA") and Vitol S.A. ("Vitol")
----- Forwarded by Sara Shackleton/HOU/ECT on 05/31/2000 08:19 AM -----
|--------+----------------------->
| | System |
| | Administrator|
| | <postmaster@V|
| | itol.com> |
| | |
| | 05/30/2000 |
| | 11:31 AM |
| | |
|--------+----------------------->
>---------------------------------------------------------------------------
-|
|
|
| To: [email protected]
|
| cc:
|
| Subject: Undeliverable: Master Agreement (financial) between
|
| Enron North A merica Corp. ( "ENA") and Vitol S.A. ("Vitol")
|
>---------------------------------------------------------------------------
-|
Your message
To: [email protected]
Cc: Tanya Rohauer
Subject: Master Agreement (financial) between Enron North America Corp. (
"ENA") and Vitol S.A. ("Vitol")
Sent: Tue, 30 May 2000 17:27:07 +0100
did not reach the following recipient(s):
[email protected] on Tue, 30 May 2000 17:31:42 +0100
The recipient name is not recognized
The MTS-ID of the original message is: c=US;a=
;p=Vitol;l=LDN0040005301631L7L87HSX
MSEXCH:IMS:Vitol:LONDON:LDN004 0 (000C05A6) Unknown Recipient
Message-ID: <[email protected]>
From: Sara Shackleton <[email protected]>
To: [email protected]
Cc: Tanya Rohauer <[email protected]>
Subject: Master Agreement (financial) between Enron North America Corp. (
"ENA") and Vitol S.A. ("Vitol")
Date: Tue, 30 May 2000 17:27:07 +0100
Return-Receipt-To: Sara Shackleton <[email protected]>
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
X-MS-Embedded-Report:
Content-Type: text/plain; charset="iso-8859-1"
I am a derivatives lawyer with ENA in Houston and obtained your name through
one
of my traders who is transacting with Jay Carr in Houston (please see
attached
message below). When I spoke with Jay earlier this month, I asked him for
the
name of a lawyer but was advised that all Vitol lawyers were in New York and
that he would pass my message along to a lawyer. I am assuming that you are
the
trading lawyer who can assist me with negotiating an ISDA Master Agreement
between our respective companies. If not, please let me know and feel free
to
pass this message on to the appropriate attorney. On April 12, 1995, Enron
Capital & Trade Resources Corp., predecessor in title to ENA, and Vitol
S.A.,
Inc. entered into a Master Agreement which is one of ENA's early energy
price
swap agreements. Since our companies are currently trading weather
derivatives,
I think you would agree that it would be prudent to supersede the existing
agreement with an ISDA Master Agreement. This relates to my conversation
with
Jay in that we confirmed our weather deals under the existing master but
incorporated the 1991 and 1993 ISDA definitions into the confirms of our
weather
trades. Please let me hear from you. You can reach me via email, phone
(713/853-5620) or fax (713/646-3490).
----- Forwarded by Sara Shackleton/HOU/ECT on 05/30/2000 11:14 AM -----
|--------+----------------------->
| | Sara |
| | Shackleton |
| | |
| | 05/05/2000 |
| | 11:47 AM |
| | |
|--------+----------------------->
>---------------------------------------------------------------------------
-|
|
|
| To: [email protected]
|
| cc:
|
| Subject: Master Agreement (financial) between Enron North
America|
| Corp. ("Enron") and Vitol S.A.
|
>---------------------------------------------------------------------------
-|
Jay: I am a lawyer with Enron. I called for you on Friday, you're out, and
no
one else could help. I would like to speak with a Vitol lawyer about (1)
replacing our existing financial master with an ISDA (to accommodate a
broader
range of products) and (2) specifically incorporating the relevant ISDA
definitions into the recent weather transaction confirmations even though
the
master is an early master energy price swap agreement. Please call me at
713
853-5620 with the information so that we can move quickly. Thank you for
your
help. Sara |
TODAY'S HEADLINES
The New York Times on the Web
Sunday, May 6, 2001
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com
QUOTE OF THE DAY
=========================
"When people started saying personal things about me, about
what I was as a person, I decided it was time to get out."
- JOVAN LAZAREVIC, who quit after working for 18 years as a referee in
basketball, soccer and baseball.
Full Story:
http://www.nytimes.com/2001/05/06/sports/06SPOR.html
NATIONAL
=========================
U.S. Scientists See Big Power Savings From Conservation
http://www.nytimes.com/2001/05/06/national/06CONS.html
New Rules for Soccer Parents: 1) No Yelling. 2) No Hitting
Ref.
http://www.nytimes.com/2001/05/06/sports/06SPOR.html
Segregation Growing Among U.S. Children
http://www.nytimes.com/2001/05/06/national/06DESE.html
Sugar Rules Defy Free-Trade Logic
http://www.nytimes.com/2001/05/06/business/06SUGA.html
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POLITICS
=========================
Cameras Being Turned on Once-Shy C.I.A.
http://www.nytimes.com/2001/05/06/politics/06CIA.html
News Analysis: Bush's Capitol Hill Two-Step
http://www.nytimes.com/2001/05/06/politics/06BUSH.html
In Spanish, Bush Focuses on Working With Mexico
http://www.nytimes.com/2001/05/06/politics/06RADI.html
Report Finds More Diversity at Top Levels in Government
http://www.nytimes.com/2001/05/06/politics/06GOVE.html
INTERNATIONAL
=========================
On a Diplomatic Mission, Pope Arrives in Syria
http://www.nytimes.com/2001/05/06/world/06POPE.html
At Home, Mexico Mistreats Its Migrant Farmhands
http://www.nytimes.com/2001/05/06/world/06MEXI.html
In Israel, Panel Urges Settlement Freeze and an End to
Terror
http://www.nytimes.com/2001/05/06/world/06MIDE.html
Poor Region's Governors in Colombia Unite to Oppose Drug
Plan
http://www.nytimes.com/2001/05/06/world/06COLO.html
BUSINESS
=========================
Sugar Rules Defy Free-Trade Logic
http://www.nytimes.com/2001/05/06/business/06SUGA.html
Questions of Style in Warnaco's Fall
http://www.nytimes.com/2001/05/06/business/06LIND.html
An Executive's Guide to Crystal Gazing in a Shaky Economy
http://www.nytimes.com/2001/05/06/business/06INDI.html
Penny-Pinching Wizardry for Leaner Companies
http://www.nytimes.com/2001/05/06/business/06OLIV.html
TECHNOLOGY
=========================
Reassessing Cisco as a Tech Stalwart
http://www.nytimes.com/2001/05/06/technology/06CISC.html
A Wing, a Prayer and Presto, It's Web TV
http://www.nytimes.com/2001/05/06/technology/06WEBTV.html
Discounts That Come to Travelers Who Wait
http://www.nytimes.com/2001/05/06/technology/06TRAV.html
Layoffs Are Becoming a Spring Break for the Dot-Com
Generation
http://www.nytimes.com/2001/05/05/technology/05DOTC.html
NEW YORK REGION
=========================
Angered by Shooting, 200 March in Irvington
http://www.nytimes.com/2001/05/06/nyregion/06RALL.html
Molecular Biologist Becomes First Woman to Lead Princeton
http://www.nytimes.com/2001/05/06/nyregion/06PRIN.html
For Chinese, Bliss Is Eternity in a Suburban Grave
http://www.nytimes.com/2001/05/06/nyregion/06GRAV.html
The Latino Candidate: Yours, Mine or Ours?
http://www.nytimes.com/2001/05/06/nyregion/06LATI.html
SPORTS
=========================
Monarchos Leaves Derby Field in the Dust
http://www.nytimes.com/2001/05/06/sports/06RACI.html
Once Again, Favorite Flunks the Derby
http://www.nytimes.com/2001/05/06/sports/06VECS-LATE.html
Collision in Crease Puts Devils on Brink
http://www.nytimes.com/2001/05/06/sports/06DEVI.html
A Policeman Who Turned Into a Hit Man
http://www.nytimes.com/2001/05/06/sports/06ANDE.html
ARTS
=========================
Jane Fonda: An Unscripted Life Starring Herself
http://www.nytimes.com/2001/05/06/arts/06KENN.html
Ravinia Festival: Where the Trains Have a Voice in the
Concerts
http://www.nytimes.com/2001/05/06/arts/06OEST.html
Orff's Musical and Moral Failings
http://www.nytimes.com/2001/05/06/arts/06TARU.html
Dancing Like a Bird, Like a Whale, Like the Wind
http://www.nytimes.com/2001/05/06/arts/06SCHE.html
OP-ED COLUMNISTS
=========================
By MAUREEN DOWD: Mexico Likes Us!
Why, only three months in, is America roiled by all these
bristly spats around the globe?
http://www.nytimes.com/2001/05/06/opinion/06DOWD.html
By PAUL KRUGMAN: More Missing Pages
How can Congress pass a budget resolution without factoring
in the cost of a missile defense system, military buildup
and expanded Medicare coverage?
http://www.nytimes.com/2001/05/06/opinion/06KRUG.html
HOW TO CHANGE YOUR SUBSCRIPTION
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Charles Schwab & Co., Inc.
Email Alert
Midday Market View(TM)
for Wednesday, December 26, 2001
as of 12:30PM EST
Information provided by Schwab Center for Investment Research
and Bridge
U.S. INDICES
(12:30 p.m. EST)
----------------------------------
Market Value Change
DJIA 10,154.49 + 119.15
Nasdaq Comp. 1,979.51 + 35.03
S&P 500 1,157.22 + 12.57
----------------------------------
NYSE Advancing Issues 2,003
NYSE Declining Issues 963
NYSE Trading Volume 384 mln
NASDAQ Advancing Issues 1,995
NASDAQ Declining Issues 1,449
NASDAQ Trading Volume 567 mln
==================================
U.S. TREASURIES
----------------------------------
Value Yield Change
6-month bill 1.87% n/a
5-year note 4.53% - 10/32
10-year note 5.19% - 13/32
30-year bond 5.51% - 12/32
The tables above look best when viewed in a fixed-width font,
such as "Courier."
================================================================
SANTA CLAUS RALLY
U.S. equities are higher midday as some upbeat news in the
retail and Internet sectors is giving equities a lift in the
post-holiday session. Wal-Mart (WMT,59,f2&f4) reported it sees
higher-than-expected December same-store sales while Internet
portal Yahoo! (YHOO,18.03,f1) said sales at its shopping site
increased significantly. U.S. Treasuries are trading lower and
European markets are closed.
As of 11:46 a.m. EST, the Dow Jones Industrial Average is up
1.2% while the Nasdaq Composite Index is 1.9% higher. The S&P
500 Index is up 1.2%. Oil-related and semiconductor shares are
pacing the advancers while steel and toy issues are leading the
decliners.
Leading retailer Wal-Mart is higher after the company stated
that it anticipates December same-store sales growth at the high
end of the 4%-6% range, exceeding its previous forecast. For the
Nov. 23 to Dec. 24 period, Wal-Mart said same-store sales growth
was in the mid- to upper- single digit percentage range.
Shares of Internet portal Yahoo! Inc. are higher on news that it
saw an 86% increase in sales at its shopping site during the
holiday season with ACNielsen figures indicating Yahoo customers
spent $10.3 billion in 4Q.
Micron Technology (MU,31,f2) is higher amid continued
speculation that the company is close to agreeing to an alliance
with South Korea's Hynix Semiconductor (HXSCY,$9.90). A month
ago, the two firms reported they were in "exploratory"
discussions regarding strategic options, however, no official
announcement has been made at this point.
Shares of EchoStar Communications (DISH,27,f1) are slightly
higher after The Wall Street Journal reported that it wants to
expand Hughes Electronics Corp.'s (GMH,15.02,f2) satellite
Internet service. If regulators approve Echostar's proposed
acquisition of Hughes, the company's chairman said he plans to
spend $1 billion on Hughes' Spaceway unit and increase ownership
in fixed satellite firm PanAmsat (SPOT,22,f1).
----------------------------------------------------------------
TREASURY AND ECONOMIC SUMMARY
U.S. Treasury prices are lower across the curve midday ahead of
tomorrow's planned $23 billion 2-year Treasury sale. In today's
only economic release, the Redbook retail sales index recorded a
4.5% decline for the three weeks ended Dec. 22nd, slightly ahead
of Bloomberg's -4.6% estimate, with year-over-year sales
declining 0.6%. Tomorrow, the Labor department will release
initial jobless claims and on Friday the markets will be
watching for consumer confidence figures, the Chicago Purchasing
Managers' Index, new and existing home sales, and durable goods
orders.
----------------------------------------------------------------
WORLD MARKETS
European markets are closed for the Christmas holiday. In
economic news, the French producer price index fell 0.6% in
November, twice the estimate, with the year-over-year figure
falling a larger than expected 2.3%. The euro is flat versus the
U.S. dollar. Crude oil got a boost following statements from
Saudi oil minister Ali Al-Naimi that OPEC will officially
announce a 1.5 million barrel per day supply cut on Friday.
Jeffrey Reeve, Market Analyst
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---------------------- Forwarded by Mark Dana Davis/HOU/ECT on 08/21/2001 08:26 AM ---------------------------
From: John Llodra/ENRON@enronXgate on 08/20/2001 07:54 PM
To: Gautam Gupta/ENRON@enronXgate, Mark Dana Davis/HOU/ECT@ECT
cc:
Subject: FW: Niagara Mohawk - Electric Commodity Outsourcing Conference Call
Attached is a power point presentation (2nd file) outlining the terms of the deal struck between NiMo and Tractebel. It looks like Tractebel has agreed to take the supply portfolio from NiMO at NiMO's cost, and then sell SOS load for a fixed quantity at fixed prices, with any deviations from that quantity priced out at the day-ahead LBMP. Aso involves an index pricing mechanism tied to changes in NYMEX gas prices. Finally, Tractebel is serving the MPS load (i.e., large customers) at a pass through of the day ahead prices. I'll send in seperate emails the actual filing (including redacted contract) and affidavits covering the auction process and results.
-----Original Message-----
From: Sullivan, Kathleen
Sent: Mon 8/20/2001 4:49 PM
To: Llodra, John
Cc:
Subject: Niagara Mohawk - Electric Commodity Outsourcing Conference Call
-----Original Message-----
From: [email protected]@ENRON [ mailto:[email protected]]
Sent: Friday, July 27, 2001 12:10 PM
To: 'William Bouteiller'; 'Robert Garlin'; 'Janet Deixler'; 'Jane Assaf'; 'Gloria Kavanah'; 'Steven Agresta'; Robinson, Thomas G.; 'Joseph Carline'; 'James Peterson'; 'Joseph Cleary'; 'Jim Tripp'; 'Natalie Patisaw'; 'David Wooley'; 'Paul Agresta'; 'Robert Hobday'; 'James Warden'; 'Michael Mager'; 'Robert Loughney'; 'Barbara Brenner'; 'Doreen Saia'; 'Timothy Merril'; 'David Prestemon'; 'Ruben Brown'; 'Sam Laniado'; 'Nicholas Prioletti'; 'Byron Starns'; 'James Bertrand'; 'Steven Pincus'; 'Martha Duggan'; 'George Kazanjian'; Sullivan, Kathleen; 'Matt Picardi'; 'Melissa Lauderdale'; 'Richard Golden'; 'Jeffrey Durocher'; 'William Green'; 'Carl Van Kralingen'; 'Elinor Ducat'; 'Paul Nolan'; 'Sarah Miller'; 'Usher Fogel'; 'Katherine Kennedy'; 'Richard Koda'; 'Chris Wentlent'; 'Chuck Sjoberg'; 'Tom Jesikiewicz'; 'Ben Wiles'; 'Robert Weishaar'; 'Cathy Hughto-Delzer'; 'Frank Miller'; 'Thomas Yurik'; 'Karen Georgenson Gach'; 'Jeffrey Stravino'; 'Glenn Haake'; 'David Johnson'; 'Craig Indyke'; 'Keith Roland'; 'James Fairman'; 'David Koplas'; 'Nancy Cianflone'; 'Catherine Nesser'; 'Jeffrey Genzer'; 'Joshua Sabo'; '[email protected]'; 'Mike Reville'; 'Walter Haase'; 'Michael Darroch'; 'Eli Eilbott'; 'Celeste Smith'; 'Kerin Dumphrey'; 'Carol Smoots'; 'Ilia Levitine'; 'Robert Mullane'; 'Thomas Rudebusch'; 'Robert Ayerst'; 'Ed Frank'; 'John Wicka'; 'Kevin Higgins'; 'Denise Gerbsch'; 'Bob Visalli'; 'Warren Myers'; 'Michael Twergo'; 'David Reulet'; 'Steven Pincus'; 'Lorna Johnson'; 'Jim Peterson'; 'Bob Loughney'; 'Karen Tuczinski'; 'Jeffrey Wagner'; 'Michael Corso'; 'David Wooley'; 'Michael Mager'; 'Whit Russell'; 'Jerrold Oppenheim'; '[email protected]'; 'Theresa Flaim'; 'Gloria Kavanah'; Reilly, Lawrence J.; 'William Glew'; Cochrane, John G.; Fowler, Keith; Lewis Johnson, Sabrina L.; Molloy, James M.; Olton, Laura; Nash, Macdara; Robinson, Thomas G.; 'Stephen Agresta'; Tervo, Judith A.; 'Joseph Ash'; 'William Edwards''; 'Steven Tasker'; 'Sandra Johnson'; 'Scott Leuthauser'; 'Dennis Schafer'; 'Clem Nadeau'; 'Michael Hynes'; 'George Bauman'; Bonner, James J.; Carlton, Jon; '[email protected]'; Conti, Kathleen A.; '[email protected]'; 'Lisa Gast'; 'Bill Mills'; 'Catherin Hedgeman'; 'Jeff Hogan'; 'Doris Stout'; 'Charles Brennan'; 'Cathy Hughto-Delzer'; 'Floyd Hitchcock'; 'Kevin Colwell'; 'Steven Wilson'; 'James Warden'; 'Karen Georgenson Gach'; 'Sarah Miller'; 'Jeff Schnur'; 'Martin Currier'; 'Donald Oliver'; 'Richard Koda'; 'Thomas Primero'; 'Jean McDonnell'; 'Doug Lutzy'; 'Jane Assaf'; 'Richard Golden'; 'Ben Wiles'; 'Nicholas Prioletti'; 'Ruben Brown'; 'Paul Savage'; 'Lyle VanVranken'; 'Michael Salony'; 'Kevin Brocks'; 'Usher Fogel'; 'John Dax'; '[email protected]'; 'Joe Mantaro'; 'Tariq Niazi'; 'Susan Bruce'; 'Barney Farnsworth'; '[email protected]'; 'Michael Cordaro'; 'Nancy Testani'; '[email protected]'; 'Michael Wayand'; '[email protected]'; 'William Saxonis'; [email protected]; [email protected]
Cc: [email protected]
Subject: PSC Case No. 01-M-0075 - Electric Commodity Outsourcing Conference Call
Niagara Mohawk has awarded a contract to Tractebel Energy Marketing Inc.
to manage its electric supply contracts for a term ending Dec. 31, 2006.
This contract is subject to approval by the PSC(a copy of the petition
seeking approval will be provided to the parties when filed with the
Commission).
A conference call to review and discuss this contract will be held with the
parties to the National Grid USA/Niagara Mohawk Merger Proceeding on
Monday, July 30, 2001 starting at 10:00 a.m.
Scott Leuthauser will go through a presentation which is attached below to
be followed by a question and answer period. Also attached below is the
Company's press release announcing the agreement with Tractebel.
Parties who are interested in learning more about how this agreement
relates to the merger proposal are invited to participate in Monday's
conference call.
Please call the following number at 10:00 a.m:
1-888-876-1197
Passcode: 111680#
(See attached file: Tractebel final.doc) (See attached file:
Commodity Outsourcing Prez - sdl Jul 27 01.ppt)
- Tractebel final.doc <<Tractebel final.doc>>
- Commodity Outsourcing Prez - sdl Jul 27 01.ppt <<Commodity Outsourcing Prez - sdl Jul 27 01.ppt>> |
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 01/06/2000
03:57 PM ---------------------------
Robert Superty
01/06/2000 08:32 AM
To: Katherine L Kelly/HOU/ECT@ECT, Edward Terry/HOU/ECT@ECT, Randall L
Gay/HOU/ECT@ECT, George Smith/HOU/ECT@ECT, Daren J Farmer/HOU/ECT@ECT, Pat
Clynes/Corp/Enron@ENRON
cc: Heather Choate/HOU/ECT@ECT
Subject: Re: Request for Application Report List
This is a follow up to the earlier email I forwarded regarding CES historical
information. Note the deadline of 1/15, I believe that should be Friday 1/14
so I need your responses by Thursday 1/13.
Please fill out the spreadsheet for each area and forward back to me. I will
consolidate our responses from a Logistics perspective. Lets have them add
everything they need and if challenged we can re-review later.
Thanks - Bob
---------------------- Forwarded by Robert Superty/HOU/ECT on 01/06/2000
08:24 AM ---------------------------
From: Bryce Baxter 01/05/2000 12:00 PM
To: Sheri Thomas/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Mark
Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT,
Georgeanne Hodges/HOU/ECT@ECT, Lisa Csikos/HOU/ECT@ECT, Rita Wynne/HOU/ECT@ECT
cc: Inja Chun/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Tommy J
Yanowski/HOU/ECT@ECT, Susan Harrison/HOU/ECT@ECT, Lawrence R
Daze/HOU/ECT@ECT, Pamela Chambers/Corp/Enron@Enron, [email protected]
Subject: Re: Request for Application Report List
Last month Richard Burchfield sent us the following list of reports that are
available from CES's systems. IT is working on a way to secure an electronic
copy of the required reports and making them available to us online via the
electronic document management system. While ENA is not liable for pre-2000
business, we may need to assist with research as issues arise. In order to
get the ball rolling, we need to get a list together of the reports we need.
Please fill out the attached spreadsheet and list any reports that you need
and return it to me by Friday, 1/15/2000. If you do not want any reports,
please send me an Email letting me know that. I have included samples of how
to fill this out, and if you have any questions please give me a call.
If you aren't sure which reports you need based on the names, please get with
any CES employees you have hired or with a CES transition employee to get
clarification. If you need samples of any of these reports please let my
assistant, Pam Chambers, know and she will coordinate getting a sample report
printed for you.
In addition, I will need a list of the users and their logonid's who will
need to have access to this data. Please send that to me by the 15th as
well.
Thanks, Bryce
Richard Burchfield
12/01/99 04:58 PM
To: Sheri Thomas/HOU/ECT@ECT, Robert Superty/HOU/ECT@ECT, Brent A
Price/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT,
Tommy J Yanowski/HOU/ECT@ECT, Bob Klein/HOU/ECT@ECT, Bryce
Baxter/HOU/ECT@ECT, Georgeanne Hodges/HOU/ECT@ECT
cc:
Subject: Re: Request for Application Report List
All,
Below is attached the report list for CES.
Richard
---------------------- Forwarded by Richard Burchfield/HOU/ECT on 12/01/99
03:48 PM ---------------------------
[email protected] on 12/01/99 01:25:37 PM
To: Richard Burchfield/HOU/ECT@ECT
cc: " - *Peeples, Jeff" <[email protected]>,
" - *Licarione, Linda" <[email protected]>
Subject: Re: Request for Application Report List
Please see the attached for the Altra GMS report listing. Please forward any
additional questions relating to Altra GMS to Linda Licarione (713-693-2845)
or
Jeff Peeples (713-693-2597). Thanks.
Linda Licarione
12/01/99 01:04 PM
To: Clay Deaton/CES/ColumbiaGas@ColumbiaGas
cc:
Subject: Request for Application Report List
Attached is a list of 210 reports from Altra GMS. Please note that we may not
be using all of these reports. If you need me to scale this down to those
currently being used, I will need to do a bit of analysis. Many of the base
reports, those denoted in the spreadsheet with filename-location (1st column)
=
master.mdb are not currently being used at CES. Let me know if you have any
questions.
---------------------- Forwarded by Linda Licarione/CES/ColumbiaGas on
12/01/99
12:58 PM ---------------------------
Clay Deaton
11/30/99 01:27 PM
To: Linda Licarione/CES/ColumbiaGas@ColumbiaGas
cc:
Subject: Request for Application Report List
Can you provide me with a complete list of GMS reports?
---------------------- Forwarded by Clay Deaton/CES/ColumbiaGas on 11/30/99
01:26 PM ---------------------------
[email protected] on 11/30/99 10:36:11 AM
Please respond to [email protected]
To: Clay Deaton/CES/ColumbiaGas@COLUMBIAGAS
cc: [email protected], [email protected]
Subject: Request for Application Report List
Clay,
I have had several requests from the ENA business groups. now that the
agreement has been finalized, for report lists from your key applications,
those
being, Altra GMS and Risk Works( there may be others as people become more
aware). There will be a need for information for ENA to manage contracts as we
go through he transition period. We feel this would be an easier process to
work
through if ENA knows what kind of information they can request as we go
through
the transition.
Thanks, Richard
- GMS_ReportListing by Header.xls |
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Thanks for your e-mail. We have converted to Outlook on our system would you send me the latest redline we have been discussing as I cannot retrieve it. Also you your changes to 8.2 did not show up if you could let me know your changes here I would appreciate it, and then I thing we are done.
Regards,
Debra
-----Original Message-----
From: [email protected]@ENRON [mailto:[email protected]]
Sent: Friday, July 13, 2001 5:33 PM
To: Perlingiere, Debra
Subject: RE: EMBOLI
MASTER FIRM PURCHASE/SALE AGREEMENT
Debra,
Were you going to send executable copies, as duly revised?
Sarai Renken
Contract Admin.
MarkWest Hydrocarbon, Inc.
----- Forwarded by Sarai Renken/Denver/MarkWest on 07/13/2001 04:27 PM
-----
Sarai Renken
To: [email protected]
06/25/2001 cc:
02:48 PM Subject: RE: EMBOLI
MASTER FIRM
PURCHASE/SALE AGREEMENT(Document link: Sarai
Renken)
I like the language with one modification, in red and bold below.
Sarai
Debra.Perlingiere
@enron.com To:
IMCEANOTES-SRenken+40markwest+2Ecom+40ENRON@ENRO
06/25/2001 01:50 N.com
PM cc:
Subject: RE: EMBOLI
MASTER FIRM
PURCHASE/SALE AGREEMENT
Thanks for your e-mail. Here is language I purpose of Article 8.2
8.2. Transfer. This Agreement, including, without limitation, each
indemnification, shall inure to and bind the permitted successors and
assigns of the Parties; provided, neither Party shall transfer this
Agreement without the prior written consent of the other Party which
consent shall not be unreasonably withheld or delayed; Notwithstanding the
foregoing, either Party may, without the consent of the other Party (and
without relieving itself from liability hereunder)but upon written notice,
(i) transfer, sell,
pledge, encumber or assign this Agreement or the accounts, revenues or
proceeds hereof in connection with any financing or other financial
arrangements, (ii) transfer or assign this Agreement to any Affiliate by
assignment, merger or otherwise, or (iii) transfer or assign this Agreement
to any person or entity succeeding to all or substantially all of the
assets of such Party; provided that any such succeeding entity or Affiliate
meets or exceeds the creditworthiness of the assigning Party and further
provided that such succeeding entity or Affiliate agrees in writing to be
bound by the terms and conditions hereof. Any Party's transfer in
violation of this Section 8.2 shall be void.
Let me have your thoughts regarding the attached.
-----Original Message-----
From: [email protected]@ENRON
[mailto:[email protected]]
Sent: Monday, June 25, 2001 11:14 AM
To: Perlingiere, Debra
Subject: RE: EMBOLI
MASTER FIRM PURCHASE/SALE AGREEMENT
Let's try this with my document actually attached.
(See attached file: Enron Master Firm Agreement.doc)
----- Forwarded by Sarai Renken/Denver/MarkWest on 06/25/2001 10:10 AM
-----
Sarai Renken
To:
[email protected]
06/25/2001 cc:
10:12 AM Subject: RE: EMBOLI
MASTER FIRM PURCHASE/SALE
AGREEMENT(Document link: Sarai
Renken)
Debra,
A few corrections made -- corrected spelling of MarkWest, added company
info for exhibits A & C.
Still missing the language you wanted to add instead of mine in sect.
8.2,
subsections (ii) & (iii). Please see my notes in the document. Once we
get the wording agreed upon for these two subsections, we should have an
agreement.
We'll also need to discuss the GISB, but let's first get the master firm
agreement in place. Any questions, please feel free to e-mail me at
[email protected] or call me at 303-925-9275.
Sarai
Debra.Perlingiere
@enron.com To:
[email protected]
06/21/2001 11:06 m
AM cc:
Subject: RE: EMBOLI
MASTER FIRM PURCHASE/SALE
AGREEMENT
Sara,
Attached I hope, is the correct redline version which exemplifies the
agreed to changes. Please review and let me know if there are any
additional corrections.
(See attached file: Markwest Redline.doc)
Debra
-----Original Message-----
From: [email protected]@ENRON
[mailto:[email protected]]
Sent: Thursday, June 14, 2001 3:21 PM
To: [email protected]
Subject: ENFOLIO
MASTER FIRM PURCHASE/SALE AGREEMENT
(See attached file: Enron Master Firm Agreement.doc)
- Enron Master Firm Agreement.doc << File: Enron Master Firm
Agreement.doc >>(See attached file: Markwest Redline.doc)
- Enron Master Firm Agreement.doc << File: Enron Master Firm
Agreement.doc >>
- Markwest Redline.doc << File: Markwest Redline.doc >> |
Carol St. Clair
EB 3892
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
----- Forwarded by Carol St Clair/HOU/ECT on 10/30/00 02:29 PM -----
Robert Eickenroht@ENRON
Sent by: Andrew Wu@ENRON
10/25/00 06:47 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], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], Edwin
Essandoh/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David L
Roland/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gerry
Willis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard DiMichele/Enron
Communications@Enron Communications, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carmen
Pokluda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Richard Freed/HOU/EES@EES,
Laurel S Gleason/EFS/EES@EES, Sandi M Braband/HOU/ECT@ECT, Chris
Gaffney/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, Mark Taylor/HOU/ECT@ECT,
Michael Schuh/FRA/ECT@ECT, Jack Harmuth/Corp/Enron@Enron, Ray
Alvarez/TRANSREDES@TRANSREDES, Raul Baldivia/TRANSREDES@TRANSREDES, Fernando
Gonzalez/TRANSREDES@TRANSREDES, Juan Pablo Sanchez/TRANSREDES@TRANSREDES,
Cynthia Trigo/TRANSREDES@TRANSREDES
cc: Stephanie Harris/Corp/Enron@ENRON
Subject: Enron Noncompetition Agreement; Important Notice
At the request of Jim Derrick, attached is a Memorandum from Mr. Derrick to
all Enron Attorneys outlining the obligations of Enron Corp., Enron Energy
Services, LLC and their respective controlled affiliates under a
Noncompetition Agreement that was recently executed. Also attached is an
Executive Summary of the Agreement and an electronic version of the Agreement
as executed. Please also circulate this Memorandum to any attorneys in your
respective business units if they are not on this distribution.
Please note that the Noncompetition Agreement and the transactions underlying
same are highly confidential and have not been publicly announced.
Therefore, please treat same with strict confidence.
The attachments are also being distributed to the Enron Corporate Development
Group and members of the Enron Executive Committee.
Robert |
Robert,
Absolutely. This is a critical situation.
Vince
Robert Johnston
01/16/2001 08:02 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Scott Tholan/Corp/Enron@Enron
Subject: California Power 1/15/01
Vince- Kristin mentioned that you might be interested in receiving our daily
updates on the California situation. Hope that you are doing well and let us
know if you require any additional information.
RJ
---------------------- Forwarded by Robert Johnston/HOU/ECT on 01/16/2001
08:08 AM ---------------------------
Robert Johnston
01/15/2001 09:10 PM
To: Michelle D Cisneros/HOU/ECT@ECT
cc: Gary Hickerson/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron, Richard
Shapiro/NA/Enron@Enron, Jaime Gualy/NA/Enron@Enron, John Greene/LON/ECT@ECT,
Jeff Kinneman/HOU/ECT@ECT, Kristin Walsh/HOU/ECT@ECT, Scott
Tholan/Corp/Enron@Enron
Subject: California Power 1/15/01
As talks continued toward the Tuesday deadline markets have been focused on
for the California electricity crisis, state officials around Governor Gray
Davis have
toughened up their rhetoric on a couple of fronts even as they confirmed
they would be in the market as early as Tuesday taking bids for energy to be
paid by the
State of California. One problem on that front is still how much producers
want to charge the state for electricity. As we reported last week, Davis and
his aides
want to pay around $50 to $55 dollars per megawatt hour and suppliers want
about $75. Treasury Secretary Summers has suggested an auction as the best
way to
determine the price, but California officials are taking a less free market
approach and still hope to set the price through negotiation over long-term
contracts.
Our sources in Washington, Sacramento, and California are increasingly of the
view that Governor Davis is positioning his government to establish long-term
power contracts with the generators that could be passed through to the
utilities following a bankruptcy in the near term. This week's legislative
activities
in Sacramento will create the vehicle to do so. State credit backing
purchases of power would obviate the need for super-priority borrowing to
finance power
purchases after utility bankruptcy.
1. Audit- Untangling Utility Relationships
California officials have also toughened their rhetoric on the debt repayment
front as they say results from a preliminary audit show that
half of the $9 to $12 billion the utilities say they owe is actually owed to
themselves for power they bought from their corporate relations
This strange situation is due to the fact that one holding company owns both
the power-generating and power-distributing companies under a
holding company umbrella. Of course, that means that some of the power PG&E
and Southern California Edison bought at highly inflated prices
was bought from themselves.
But it was not all bad news in the tense negotiations. Sources confirm that
Davis increasingly understood that the state finance role was a crucial part
of any
potential solution. He told our sources this afternoon that he is willing to
use state credit to eliminate the "risky debt" premium that PG&E
and SCE are being charged by suppliers because of their shaky finances and
that he is willing to extend the current 10% rate increase
utility customers are paying far beyond the initial 90-day deadline. In
return he is demanding that the companies prepare to "share the
burden of debt reduction in return for state help and credit extension."
2. Debt Restructuring- Guarantees, but No Direct State Money
Davis also told the videoconference that he believes the $12 billion in back
debt owed by the utility companies can be cleared up
during a 90-day forbearance period (whether that period has been agreed to by
all creditors is not something we are clear about right now). Davis' idea, as
he laid it out in the meeting, is to use the forbearance period to securitize
the debts and sell them against the utilities' forward rate base or by
establishing a
medium-term repayment plan backed by continued state guarantees.
In both cases the restructured debt would be resolved over a decade without
direct use of taxpayer money as the utilities use their positive margins to
paydown their debt. One of the reasons Davis wants to stay close to the
$50-$55 megawatt charge is that it maximizes the rate at which utilities can
pay
down this debt. There is a strong chance that Davis will agree to use state
guarantees to sweeten the pot at the end of these negotiations, but he remains
opposed to using direct state money. This frustrates both Clinton
administration and utility creditors, but Davis has not yet shown much
flexibility.
3. Eminent Domain/Reregulation
Perhaps most frustrating to the Washington DC free market crowd at Treasury
and the White House was the continued comfort Davis and his group of political
advisers have with "non-market" solutions to the energy crisis. Although
the Governor's aides actually believe the weapon is more a "way to force
eventual
agreement, than an actual solution," the talk returns frequently to these
non-market mechanisms. "We have the ultimate weapon to enforce compliance by
the
Tuesday deadline. If we make no progress. If this thing looks like it will
turn into a genuine crisis, then we will use our powers of condemnation and
we will re-take
the plants and equipment and run them ourselves," a close political aide to
Davis said. "We will absorb the plants, the transmission lines and the
reserved parking
places of the executives. The legislature would agree in a second." |
+ The recent hike in oil prices pushed inflation up to 7.56% in the week
ending September 30.
+ Hyundai Motors India plans to invest an additional $350 million over 3
years to enhance its existing production capacity and launch new models.
+ The Ministry of Power opposed Enron India's proposal for trading in surplus
power.
USIBC Daily News
October 16, 2000
Agro/Patents/Pharma
October 16: U.S.-based Rice Tec Inc withdrew 4 out of 20 claims from its 1997
patent on basmati rice. The Hindustan Times (Print edition only)
October 16: The central government sanctioned a $77.7 million relief package
for farmers of the north Indian state of Punjab. The Food Corporation of
India had earlier decided to suspend procurement of paddy as it found the
crop was sub-standard. The Times of India <
http://www.timesofindia.com/today/16home3.htm>
?<http://www.hindustantimes.com/>
Broadcasting/Entertainment
October 16: The Indian government announced that private agencies would start
FM radio broadcast on schedule in four major cities. The Times of India <
http://www.timesofindia.com/today/16busi13.htm>
Communications
October 16: Usha Telecom Ltd has decided to pay its entire outstanding
cellular-license fees of $70.2 million to the Department of
Telecommunications (DoT). This follows Usha Telecom's bid to sell its
cellular licenses. The Times of India <
http://www.timesofindia.com/today/16busi2.htm>
October 16: Southern Railways has completed an optic fiber cable network in
Tamil Nadu.? The Financial Express (Print edition only)
Economic/General News
October 16: The Associated Chambers of Commerce and Industry (Assocham)
stated that the slowdown in industrial growth (down to 5.3% during
April-August 2000) is expected to continue for the next 6 months. The
Financial Express <
http://www.financialexpress.com/fe/daily/20001016/fex16035.html>
October 16: The recent hike in oil prices pushed inflation up to 7.56% in the
week ending September 30, compared to 6.06% in the previous week. This is the
first time inflation has risen beyond 7% since the introduction of a new
index in April 2000. Business Standard <
http://www.business-standard.com/today/economy7.asp?Menu=3>
Energy
October 16: The National Oil Company of Oman is likely to purchase a 26%
equity stake in Bina Refinery of Bharat Petroleum. The Economic Times (Print
edition only)
Financial: Trade & Investment
October 16: CVD International, a U.S.-based entertainment hardware/software
development company, is likely to purchase 20% of Hyderabad-based Prathina
Video Private Ltd. The Financial Express (Print edition only)
October 16: Hyundai Motors India has decided to invest an additional $350
million over 3 years to enhance its existing production capacity and launch
new models. The Financial Express <
http://www.financialexpress.com/fe/daily/20001016/fco16031.html>
Information Technology
October 16: Cheecoo Networks announced its partnership with Yahoo-India.
Cheecoo Networks has a unique navigation, notification and communication
console. Cheecoo Networks will make Yahoo's popular services available to the
Internet community through their desktop application. The Financial Express
(Print edition only)
Insurance and Finance
October 16: The government finalized a cabinet note to amend the Banking and
Acquisition Act 1969. This will allow the government to reduce its ownership
percentage in nationalized banks to 67%. The Financial Express (Print edition
only)
Political/International
October 16: The Ministry of External Affairs confirmed that it received
requests from both Israel and the Palestinian National Authority (PNA) for
intervening in the West Asia peace process. However, the Indian government
offered only humanitarian aid and a general condemnation of the violence. The
Times of India (Print edition only)
Sanctions
Transportation/Infrastructure
October 16: The Ministry of Power opposed Enron India's proposal for trading
in surplus power. Enron plans to set up a wholly owned subsidiary and invest
$50-100 million to market power; including purchase of power from private
producers, transmission and distribution companies and state electricity
boards. The Foreign Investment Promotion Board (FIPB) has already referred
Enron's proposal to the Group of Ministers on foreign direct investment and
believes that power trading may be useful in reducing power losses. The
Economic Times (Print edition only)
October 16: India requires an investment of $65 billion to meet its urban
infrastructure needs, according to a paper prepared by the Confederation of
Indian Industry (CII). The Times of India ? <
http://www.timesofindia.com/today/16busi23.htm>
October 16: Indian financial institutions led by Industrial Development Bank
of India (IDBI) disbursed over $173 million to PPN, a 330 mw power project
based in Tamil Nadu. PPN will receive $73.6 million in rupee-denominated term
loans and a foreign currency loan of $93.7 million. The Financial Express <
http://www.financialexpress.com/fe/daily/20001016/fex16045.html>
==============================================================================
=
The USIBC Daily News is a free service of the U.S.-India Business Council to
USIBC Members and affiliates.
USIBC provides Internet links to news stories for informational purposes
only, and makes no representation
of the accuracy of information posted on other organizations' websites.? To
add or remove your name from this
list, or with questions or comments, please contact USIBC via e-mail at
[email protected] <mailto:[email protected]>.
U.S.-India Business Council
Website: <http://www.usibc.com>
1615 H Street NW
Washington DC 20062-2000
Phone 202 463 5492
Fax 202 463 3173
West Coast
477 Ninth Avenue, Suite 107
San Mateo, CA 94402
Phone 650 685 8790 xt. 16
Fax 650 343 2848 |
Picture didn't come through. Sounds nice. Is there somewhere on the web I can see it.
Chris
-----Original Message-----
From: "Varsity Ecommerce" <[email protected]>@ENRON
Sent: Thursday, September 27, 2001 3:48 PM
To: Dorland, Chris
Subject: Re: Grand Cherokee
Did the picture not come through as an attachment in my last email?
I'll attach it again and hopefully you will be able to see it this time.
If not, it is the 60th Anniversary Limited - black exterior with the taupe
and agate interior...I thought it would be a good match for you and there
are only a few around and they are gorgeous.
Dwayne
----- Original Message -----
From: <[email protected]>
To: <[email protected]>
Sent: Monday, August 27, 2001 2:39 PM
Subject: RE: Grand Cherokee
> Do you have a black one in stock? If so, what color interior?
>
> Chris
>
> -----Original Message-----
> From: "Varsity Ecommerce" <[email protected]>@ENRON
> Sent: Thursday, September 27, 2001 3:37 PM
> To: Dorland, Chris
> Subject: Re: Grand Cherokee
>
> Hi Chris,
>
> So you like black? Oddly enough that was the one I was thinking of
> too...
>
> Here's a picture...What do you think?
>
> By the way, I will be here on the 6th and 7th, so I will see you then.
>
> Take care,
> Dwayne
> ----- Original Message -----
> From: <[email protected]>
> To: <[email protected]>
> Sent: Monday, August 27, 2001 2:18 PM
> Subject: RE: Grand Cherokee
>
>
> > The colors that interest me most are black, silver, white, burgundy
> and
> > champagne. I will be in Calgary on Sept. 6/7 and I will give you a
> call.
> > Are you going to be in the office on those days?
> >
> > Chris Dorland
> >
> > -----Original Message-----
> > From: "Varsity Ecommerce" <[email protected]>@ENRON
> > Sent: Friday, August 24, 2001 11:48 AM
> > To: Dorland, Chris
> > Subject: Re: Grand Cherokee
> >
> > Hi Chris,
> >
> > I don't honestly know how long they will be available as our first
> 2002
> > arrived on Monday, so that would suggest that we aren't receiving
> any
> > more
> > 2001 models. There are still several available, but if we didn't
> have
> > your
> > 2001 in stock, I would locate it at another dealer and bring it in
> for
> > the
> > same price.
> >
> > The next step might also be to give me your top choices for
colours
> so
> I
> > can
> > keep an eye out for you.
> >
> > By the way, my work number is 730-4000, or toll-free
> 1-866-881-1888.
> >
> > Take care,
> > Dwayne
> >
> >
> >
> >
> > ----- Original Message -----
> > From: <[email protected]>
> > To: <[email protected]>
> > Sent: Friday, August 24, 2001 10:41 AM
> > Subject: RE: Grand Cherokee
> >
> >
> > > Thank you very much. How long would it take to get something
like
> this
> > in?
> > > I will be in Calgary on Sept. 6/7 and will come by and see you.
> Could
> > you
> > > e-mail me your work phone number.
> > >
> > > Thanx
> > >
> > > Chris Dorland
> > >
> > > -----Original Message-----
> > > From: "Varsity Ecommerce" <[email protected]>@ENRON
> > > Sent: Friday, August 24, 2001 11:25 AM
> > > To: Dorland, Chris
> > > Subject: Re: Grand Cherokee
> > >
> > > Hi Chris,
> > >
> > > I am attaching the breakdown on a Grand Cherokee that matches
> your
> > > request
> > > as closely as possible.
> > >
> > > The MSRP on the unit is $51,570 with pretty well every
> conceivable
> > > option -
> > > I can get you this Grand Cherokee for the cash price of
> $45,188
> > > including
> > > rebates.
> > >
> > > Take a look at the attachment and let me know if you have any
> > questions
> > > or
> > > comments.
> > >
> > > Have a great day,
> > >
> > > Dwayne
> > >
> > > - Chris.RTF << File: Chris.RTF >>
> > >
> > >
> > >
> > >
> **********************************************************************
> > > 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.
> > >
> **********************************************************************
> > >
> >
> >
>
> - 60thAnniversaryGC.jpg << File: 60thAnniversaryGC.jpg >>
>
- 60thAnniversaryGC1.jpg << File: 60thAnniversaryGC1.jpg >> |
Tana:
Mark said that he has already approved these. Do I need to do anything?
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
Tana Jones
03/23/2001 05:33 PM
To: Carol St Clair/HOU/ECT@ECT
cc:
Subject: Re: EOL PRODUCT TYPE APPROVAL for 5 Financial product types
(Clickpaper to EOL migration)
----- Forwarded by Tana Jones/HOU/ECT on 03/23/2001 05:33 PM -----
Harry M Collins
03/23/2001 10:05 AM
To: Kevin Meredith/Corp/Enron@ENRON
cc: Bjorn Hagelmann/Enron@EnronXGate, Charlie Hoang/Enron@EnronXGate, Chris
Walker/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Jeff
Blumenthal/Enron@EnronXGate, Karen Lambert/HOU/ECT@ECT, Kelly
Lombardi/NA/Enron@Enron, Laurie Lee/Enron@EnronXGate, Lisa Lees/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT,
Shari Mao/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Susan
Musch/Enron@EnronXGate, Tana Jones/HOU/ECT@ECT, Tara Sweitzer/HOU/ECT@ECT,
Tom Moran/Enron@EnronXGate, Torrey Moorer/HOU/ECT@ECT
Subject: Re: EOL PRODUCT TYPE APPROVAL for 5 Financial product types
(Clickpaper to EOL migration)
Carol St. Clair is the appropriate attorney to review these financial
products.
Kevin Meredith@ENRON
03/23/2001 08:24 AM
To: Jeff Blumenthal/HOU/ECT, Susan Musch/ENRON_DEVELOPMENT, Bjorn
Hagelmann/HOU/ECT, Mark Taylor/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Tom
Moran/HOU/ECT, Shari Mao/HOU/ECT@ECT, Charlie Hoang/HOU/ECT, Laurie
Lee/NA/Enron
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron,
Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Chris Walker/HOU/ECT@ECT,
Melba Lozano/HOU/ECT@ECT
Subject: EOL PRODUCT TYPE APPROVAL for 5 Financial product types (Clickpaper
to EOL migration)
Your review and approval of the following 5 product types in the EOL
Datamanager is needed (for directions on approval , please see steps for
approval at the bottom of this e-mail). If you have any questions please call
me at ext. 39555.
US Newsprint Fin Swap USD/MT/M
A US Newsprint Financial Swap Transaction with Enron North America Corp.
under which the Seller pays a Floating Price and the Buyer pays the price
submitted by Counterparty on the Website (the Fixed Price) in respect of the
Notional Quantity per Determination Period. The Notional Quantity per
Determination Period shall be the volume submitted by Counterparty on the
Website. Each calendar month during the term of the Transaction will be a
Determination Period. The Payment Date(s) will be 5 business days after the
Floating Price is determinable. The Floating Price shall be the Index for the
relevant Determination Period.
US Packaging Fin Swap USD/ST/M
A US Packaging Financial Swap Transaction with Enron North America Corp.
under which the Seller pays a Floating Price and the Buyer pays the price
submitted by Counterparty on the Website (the Fixed Price) in respect of the
Notional Quantity per Determination Period. The Notional Quantity per
Determination Period shall be the volume submitted by Counterparty on the
Website. Each calendar month during the term of the Transaction will be a
Determination Period. The Payment Date(s) will be 5 business days after the
Floating Price is determinable. The Floating Price shall be the Index for the
relevant Determination Period.
US Recycled ONP #8 Fin Swap USD/ST/M
A US Recycled Financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website. Each
calendar month during the term of the Transaction will be a Determination
Period. The Payment Date(s) will be 5 business days after the Floating Price
is determinable. The Floating Price shall be the Index for the relevant
Determination Period.
US Recycled OCC #11 Fin Swap USD/ST/M
A US Recycled Financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website. Each
calendar month during the term of the Transaction will be a Determination
Period. The Payment Date(s) will be 5 business days after the Floating Price
is determinable. The Floating Price shall be the Index for the relevant
Determination Period.
US OSB Fin Swap USD/MSF
A US OSB Financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website. Each
calendar month during the term of the Transaction will be a Determination
Period. The Payment Date(s) will be 5 business days after the Floating Price
is determinable. The Floating Price shall be the Index for the relevant
Determination Period.
==============================================================================
=====
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved" |
I am OK with what Credit say, which is if the counterparties are already
approved for trading those pulp & lumber products theyan trade the new
products, except for the following counterparties which we need to be careful
about becuase they could only tansact newsprint:
The Bakersfield Californian: can transact only newsprint
E.W. Scripps Company (The) can only transact 48.8 gram newsprint swaps
Stephanie Sever
03/27/2001 03:08 PM
To: Tana Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly
Lombardi/NA/Enron@Enron, Tom Moran/Enron@EnronXGate
cc: Robert B Cass/HOU/ECT@ECT, Kevin Meredith/Corp/Enron@ENRON, Chris
Walker/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Lisa Lees/HOU/ECT@ECT
Subject: RUSH - EOL PRODUCT TYPE APPROVAL for 5 Financial product types
(Clickpaper to EOL migration)
Tana/Karen/Kelly:
Credit (Tom Moran) has approved copying the profiles for the following new
product types; US Newsprint Fin Swap, US Packaging Fin Swap, US Recycled
ONP#8 Fin Swap and US Recycled OCC #11 Fin Swap from the following:
US Paper Fin Swap
Credit (Tom Moran) has approved copying the profile for the new product type,
US OSB Fin Swap, from the following:
US Lumber Fin Swap
Please respond by 5 p.m. today, Tuesday, March 27.
Thank you.
Stephanie
---------------------- Forwarded by Stephanie Sever/HOU/ECT on 03/27/2001
02:29 PM ---------------------------
Enron North America Corp.
From: Kevin Meredith @ ENRON 03/23/2001 08:24 AM
To: Jeff Blumenthal/HOU/ECT, Susan Musch/ENRON_DEVELOPMENT, Bjorn
Hagelmann/HOU/ECT, Mark Taylor/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, Tom
Moran/HOU/ECT, Shari Mao/HOU/ECT@ECT, Charlie Hoang/HOU/ECT, Laurie
Lee/NA/Enron
cc: Lisa Lees/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron,
Tara Sweitzer/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT, Torrey
Moorer/HOU/ECT@ECT, Robert B Cass/HOU/ECT@ECT, Chris Walker/HOU/ECT@ECT,
Melba Lozano/HOU/ECT@ECT
Subject: EOL PRODUCT TYPE APPROVAL for 5 Financial product types (Clickpaper
to EOL migration)
Your review and approval of the following 5 product types in the EOL
Datamanager is needed (for directions on approval , please see steps for
approval at the bottom of this e-mail). If you have any questions please call
me at ext. 39555.
US Newsprint Fin Swap USD/MT/M
A US Newsprint Financial Swap Transaction with Enron North America Corp.
under which the Seller pays a Floating Price and the Buyer pays the price
submitted by Counterparty on the Website (the Fixed Price) in respect of the
Notional Quantity per Determination Period. The Notional Quantity per
Determination Period shall be the volume submitted by Counterparty on the
Website. Each calendar month during the term of the Transaction will be a
Determination Period. The Payment Date(s) will be 5 business days after the
Floating Price is determinable. The Floating Price shall be the Index for the
relevant Determination Period.
US Packaging Fin Swap USD/ST/M
A US Packaging Financial Swap Transaction with Enron North America Corp.
under which the Seller pays a Floating Price and the Buyer pays the price
submitted by Counterparty on the Website (the Fixed Price) in respect of the
Notional Quantity per Determination Period. The Notional Quantity per
Determination Period shall be the volume submitted by Counterparty on the
Website. Each calendar month during the term of the Transaction will be a
Determination Period. The Payment Date(s) will be 5 business days after the
Floating Price is determinable. The Floating Price shall be the Index for the
relevant Determination Period.
US Recycled ONP #8 Fin Swap USD/ST/M
A US Recycled Financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website. Each
calendar month during the term of the Transaction will be a Determination
Period. The Payment Date(s) will be 5 business days after the Floating Price
is determinable. The Floating Price shall be the Index for the relevant
Determination Period.
US Recycled OCC #11 Fin Swap USD/ST/M
A US Recycled Financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website. Each
calendar month during the term of the Transaction will be a Determination
Period. The Payment Date(s) will be 5 business days after the Floating Price
is determinable. The Floating Price shall be the Index for the relevant
Determination Period.
US OSB Fin Swap USD/MSF
A US OSB Financial Swap Transaction with Enron North America Corp. under
which the Seller pays a Floating Price and the Buyer pays the price submitted
by Counterparty on the Website (the Fixed Price) in respect of the Notional
Quantity per Determination Period. The Notional Quantity per Determination
Period shall be the volume submitted by Counterparty on the Website. Each
calendar month during the term of the Transaction will be a Determination
Period. The Payment Date(s) will be 5 business days after the Floating Price
is determinable. The Floating Price shall be the Index for the relevant
Determination Period.
==============================================================================
=====
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Awaiting Approval" (OR "Partially Approved")
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up
TO APPROVE: Right mouse click on "Approved" |
FYI
---------------------- Forwarded by Richard Shapiro/HOU/EES on 04/05/2000
01:50 PM ---------------------------
From: Christi L Nicolay@ECT on 04/05/2000 01:49 PM
To: James D Steffes/HOU/EES@EES, Richard Shapiro/HOU/EES@EES
cc: Joe Hartsoe/Corp/Enron@Enron, Sarah Novosel/Corp/Enron@Enron, Charles
Yeung/HOU/ECT@ECT, Richard Ingersoll/HOU/ECT@ECT
Subject: Joe's group accomplishments in 2000 SO FAR!!
Per Jim's request for the database. (I don't know if you want to put the
values that Kevin is giving into the database).
(1) Completed the negotiations and FERC filing of the Next Hour Market
scheduling proposal. When implemented, scheduled for June 2000, this will
provide one stop shopping for next hour business. Ties OASIS and TAGGING
together into one request. Also if a tranmission provider cuts the
transmission the PSE only pays for his actual use versus what he originally
scheduled. This will speed up the ability to schedule the next hour
non-firm. This order is an important recognition by FERC that its OATT did
not cover hourly, which we complained about alot at FERC's hotline last
summer.
2) Successful in obtaining the release of all ISN (system information) to
marketers in the WSCC region. This was an individual effort by Dick that has
been benificial for our traders in the WEST. Successfully prevented the WSCC
Operating Committee from taking action that would have reversed this effort.
3) Assisted in getting the initial control areas in SERC approved last year
and preventing ATC changes this year and OC changes that would have negated
the Control Area effort.
4) Dick served as Co CHAIR of the ISO committee that put the SPP contract
in place that eliminated MW mile pricing in SPP and will serve as the basis
for SPP's RTO.
5) Dick was appointed to the NERC Control Area Task Force which was formed
as a result of our the success of the Enron Control Areas in TVA and have so
far been successful in keeping this effort so that it is non punitive. This
has turned into a very positive process that may result in a new
configuration of the NERC relibiability effort.
(6) Dick's made comments to ENTERGY that helped push Entergy into filing
their new scheduling procedure (ultimate source and sink) with FERC. This
was initially going to be implemented unilaterally March 1 without a FERC
filing and Enron would have been forced into an after the fact complaint
situation at FERC where we are not allowed to get damages that we would have
incurred in the meantime (See Comm. Massey's concurrence in Aquila v. Entergy
about the lack of incentive to file complaints). Kevin Presto said that
winning the protest at FERC (due 4/12) would be worth $100 MM.
(7) On 2/2, TECO revised its proposed generator imbalance charge from
minute by minute to hourly accountability (notably, TECO revised its proposal
before FERC issued an order based on the EPSA protest herein.) We worked with
EPSA to file an EPSA protest to TECO,s proposal. We didn,t like TECO's
proposal but had commercial concerns about filing a protest in our own name
(since Enron is working with TECO on a project). We were able to get EPSA
to protest this issue in TECO's initial filing. Enron is planning to site
generation in Florida, but we don't have the value on this win yet.
(8) FERC issued a NOPR on January 28 proposing to revise the
way it assesses annual charges to public utilities. Enron, along with
several other participants (Dynegy, Koch, APX, Citizens, NP Energy, Sonat and
Williams), filed a petition for rulemaking with FERC in August, 1998,
requesting FERC to revise its methodology for assessing annual charges,
arguing that FERC's current system of assessing annual charges on sales for
resale of power discourages trading, impedes reliance on competitive markets
for power, and could create competitive advantages for utilities over new
power marketers entering the market. We proposed that FERC either assess its
costs on transmission only, or reallocate the amounts that it collects
through sales transactions versus transmission transactions. Although FERC
does not grant our petition and in fact dismisses it as moot, the petition
served its purpose.
In the NOPR, FERC notes that because most of its time is spent on
transmission issues (a point that we made in the Petition), it is appropriate
to assess costs only on the MWh of electric energy transmitted in interstate
commerce by public utilities. Under the current assessment system, FERC
divides its costs between transmission and sales. Now FERC is proposing to
collect its costs solely through transmission. FERC justifies this change
because it spends most of its time on transmission issues, and because
transmission providers can collect the fees through transmission charges
assessed to users of the grid. FERC proposes to asses its costs to 1)
unbundled wholesale transmission; 2) unbundled retail transmission; and 3)
bundled wholesale power sales. Bundled native load transactions will
apparently avoid assessments of any FERC-related costs; however, EPSA and
Enron are protesting this issue at FERC. (Jim Steffes has been working on a
calculation of additional value.)
(9) Interconnection Policy ) Utilizing EPSA efforts, including Sarah's
meeting with FERC, we got the policy statement we urged FERC to put forth (in
the forum we suggested, i.e., an existing proceeding) in the Tennessee Power
order where FERC said interconnection procedures should follow the pro forma
tariff, including that a generator doesn't have to request transmission and
interconnection at the same time. We worked with EPSA to draft the "Model"
interconnection agreement that EPSA filed at FERC in the Entergy
interconnection proposal.
(10) AEP/CSW order ) approved the merger but accepted intervenors,
testimony showing market power and conditioned merger on an independent
calculation of ATC postings (which we proposed) and independent market
monitor soon after the merger occurs with RTO participation by 12/15/01.
Kevin Presto said the independent ATC calculation is worth $20 MM to Enron.
(Note: we are going to propose MAIN instead of SPP, which AEP chose.). Kevin
said that AEP's ATC calculation can trump all interfaces in ECAR, so this has
a positive effect not just on AEP, but on all of ECAR.
(11) MAPP ) FERC further order on refunds. MAPP refused to refund monies
that it was unable to collect from a non-jurisdictional member transmission
owner, NPPD. EPMI filed a protest to MAPP,s refund report, arguing that MAPP
was ordered to make full refunds and it violated that order. FERC agreed
with Enron and rejected MAPP,s refund report. FERC said MAPP must refund the
full amount to transmission customers, whether or not it was able to collect
that money from NPPD. Results in another $50,000 of refunds for EPMI.
(12) Sarah is working on the PGE sale. |
======================== THE MOTLEY FOOL ========================
B R E A K F A S T N E W S
Thursday, September 20, 2001
[email protected]
=================================================================
IN THIS ISSUE
---------------------
- TOP STORY: Government Accelerates Aid to Airlines
http://www.fool.com/m.asp?i=499856
- NEWS TO GO: Knight-Ridder, 3Com, Tenet Healthcare
http://www.fool.com/m.asp?i=499857
- POST OF THE DAY: Biotech Stocks Anyone?
http://www.fool.com/m.asp?i=499858
=================================================================
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GOVERNMENT ACCELERATES AID TO AIRLINES
While Congress works on legislation that will provide financial aid to airlines,
President Bush will ask lawmakers to hand over $5 billion in immediate cash
to the shell-shocked industry. The Associated Press, quoting an anonymous administration
official, says the cash would be coupled with help for the airlines' insurance
liabilities.
The House of Representatives hopes to rush through a $24 billion aid package
that will be quickly sent to the Senate, and could possibly reach the president's
desk before next week. That package would include loans as well as some cash
that would not have to be repaid. Continental Airlines (NYSE: CAL) CEO Gordon
Bethune says the industry is currently losing $15 million per hour, and the
package is needed to restore some stability to the situation.
In the meantime, more airlines announced staff reductions after the market closed
yesterday. First, Mesa Air (Nasdaq: MESA) said it would cut 700 jobs and implement
a temporary 10% pay reduction for most employees. Senior management's pay has
already been reduced by 20%, and both the CEO and the company's president took
a 50% cut.
Later, heavyweights American Airlines parent AMR Corp. (NYSE: AMR) and United
Airlines parent UAL (NYSE: UAL) announced layoffs of some 20,000 employees
each. That represents 14% of American's staff, and 20% of United's. Following
Boeing's (NYSE: BA) actions Wednesday, job cuts now total almost 100,000
people industry wide.
http://www.fool.com/m.asp?i=499860
One company bucking the layoff trend, however, is SkyWest Airlines (Nasdaq:
SKYW). COO Ron Reber says no layoffs are in the works. The company's "plans
for growth are still intact," he says, and it still plans to take delivery of
the 106 Canadair Regional Jets it ordered from manufacturer Bombardier. SkyWest
operates as United Express and Delta Connection in 74 cities.
>>FULL STORY:
http://www.fool.com/m.asp?i=499861
-----------------------------------------------------------------
NEWS TO GO
-----------------------------------------------------------------
Media companies have also been adversely affected by the terrorist attacks.
Knight-Ridder (NYSE: KRI) and Tribune Co. (NYSE: TRB), which teamed up
in August to acquire online job recruitment site Headhunter.NET (Nasdaq: HHNT),
both came out with bad news after the bell yesterday. Knight-Ridder CEO Tony
Ridder says many advertisers pulled ads after the attacks, and, combined with
the increased expenses due to extended coverage of the tragedy, he expects about
a 25% year-over-year drop in earnings per share. Citing the same reasons, Tribune
expects third-quarter and full-year earnings to come in below expectations.
http://www.fool.com/m.asp?i=499862
The Securities and Exchange Commission says it doesn't yet know if those associated
with last Tuesday's hijackings also exploited the markets in order to profit
from the attacks. The agency says it's "vigorously pursuing all credible leads,"
but wouldn't release any other details.
Networking equipment maker 3Com (Nasdaq: COMS) reported fiscal first-quarter
results that saw revenue fall 58% from the same period last year. The company
also "found opportunities" to reduce staffing by another 1,000 people and expects
to end the quarter with 6,000 workers. It employed 12,000 last November.
The nation's number-two hospital operator, Tenet Healthcare (NYSE: THC), says
it will top estimates when it releases fiscal first-quarter earnings on Oct.
3. Its expected earnings per share of $0.65 - $0.67 would represent 35-40% growth
over last year.
Rex Moore's mental acuity has shown a 3%-5% year-over-year decrease, though
it's up inconsequentially sequentially. At press time he held no positions in
any of the companies mentioned in this article. The Motley Fool is investors
writing for investors.
http://www.fool.com/m.asp?i=499863
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POST OF THE DAY
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BIOTECH STOCKS ANYONE?
"I think the safest long term Biotech offerings are the larger pharmaceutical
manufacturers who are very active in R&D and or acquisitions AND are diverse
in their product markets."
>>FULL POST:
http://www.fool.com/m.asp?i=499864
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MsgId: msg-9754-2001-09-20_10-29-50-3779074_2_Plain_MessageAddress.msg-10:31:06(9-20-2001)
X-Version: mailer-sender-master,v 1.84
X-Version: mailer-sender-daemon,v 1.84
Message-Recipient: [email protected] |
Don't mean to keep the chain of emails going, but given the cameras and the
grand-standing politicians (who seem to have an abundance of rhetoric and
capacity for scape-goating, and a paucity of constructive solutions or the
will necessary to do what needs to be done), seems worth considering the pros
and cons of throwing anyone in front of any legislative committees. We may
decide that the pros outweigh the cons and that there's discernable value
having our outside counsel speak to the issues of supply and demand in
California and the West, but seems worth spending 5 or 10 minutes on.
Best,
Jeff
Paul Kaufman@ECT
01/11/2001 01:30 AM
To: Susan J Mara/NA/Enron@ENRON
cc: Alan Comnes/PDX/ECT@ECT, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron
Subject: Re: Special Oversight Committee
What the heck are you doing awake at 2:00 a.m.
Re: the hearing. I'm really not sure that this hearing is worth spending
alot of time worrying about--at least given my understanding of the scope of
this Committee's responsibilities during the special session (i.e, the lack
of responsibilities). Although, Sandi may know more about the importance of
this hearing based on discussions with the Committee folks, from our
discssions over the past couple of days in Sacto it really seems like the
hearing will be informational in nature.
In any event, I don't see the downside to having Mike do the testimony.
Mike knows enough to be helpful to the Committee. He's easy to insert in the
process. While I have absolutely no problems using Robert Michaels, the
hearing is on Tuesday--less than one week from today--and somebody would have
to vet his testimony and work with him to prepare the document. If we can
make this work, I'm all for it. It just seem a lot easier to use Mike.
Re: why can't we just say no. From my standpoint there is an upside in
participating--we continue to support Wright. Wright has become the voice of
reason on energy issues.
Susan J Mara@ENRON
01/10/2001 10:48 PM
To: Paul Kaufman/PDX/ECT@ECT
cc: Alan Comnes/PDX/ECT@ECT, James D Steffes/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron
Subject: Re: Special Oversight Committee
Can't we just say "no"? I know Rod thinks highly of Mike, but I'm having a
hard time seeing what he can add on the stated topic. Mike Day is certainly
no expert on supply and demand. I can understand our reluctance in putting
an Enron person on the stand, so maybe we shouldn't. Why not pay an
economics consultant, like Robert Michaels to represent us? He's been in the
media lately and has the right type of expertise. ALso, he's just joined
TCA, so we could easily use him.
Paul Kaufman@ECT
01/10/2001 10:19 PM
To: Susan J Mara/NA/Enron@ENRON, Sandra McCubbin/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT
cc: James D Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron
Subject: Special Oversight Committee
The invitation is to participate in a meeting before the Utilities and
Commerce Committee of the regular session. The oversight committee is an
entirely different matter--as of yesterday no schedule for its meetings had
been set (timing may follow the release of the CPUC auditor's report on the
utilities).
As for the invitation to speak, my thought is that we ask Mike Day to speak
on our behalf. The issue we have been asked to address is, very generally,
supply and demand. Day has a lot of credibility with Wright and it's
Wright's committee. Just be sure, this afternoon, Sandi was following up
with the Wright's office to get a better picture on scope of the hearing.
With regard to this subject, I asked Alan Comnes to look through the Mary
Hain presentation to FERC (from last summer) and pull out the slides that
were relatively current (or not too awfully out of date). From what we have
seen so far, I don't think we need to get to worked up over this particularl
hearing before the regular Utilities committee. All the action will occur
before the special session committees.
If the need to discuss the hearing continues to be an issue, let's talk
further. Sandi please follow up with Sue on what we've discovered through
Wright's office re: the Tuesday hearing.
---------------------- Forwarded by Paul Kaufman/PDX/ECT on 01/10/2001 10:18
PM ---------------------------
Susan J Mara@ENRON
01/09/2001 10:50 PM
To: Paul Kaufman/PDX/ECT@ECT, Sandra McCubbin/NA/Enron@Enron, Jeff
Dasovich/NA/Enron@Enron, Marcie Milner/Corp/Enron@ENRON, James D
Steffes/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Alan
Comnes/PDX/ECT@ECT
cc:
Subject: Special Oversight Committee
We need to discuss our response to this invitation
----- Forwarded by Susan J Mara/NA/Enron on 01/09/2001 09:22 PM -----
Scott Govenar <[email protected]>
01/09/2001 03:15 PM
To: Hedy Govenar <[email protected]>, Bruno Gaillard
<[email protected]>, Mike Day <[email protected]>, Mona L Petrochko
<[email protected]>, Jeff Dasovich <[email protected]>, Susan J
Mara <[email protected]>, Paul Kaufman <[email protected]>
cc:
Subject: Special Oversight Committee
There will be an oversight subcommittee of the new committee formed to
shape energy policy in the Special Session. In a meeting today,
Assembly Member Darryl Steinberg, who will Chair the subcommittee, told
us he expects to hold two hearings to "track the money" between
utilities, geneators and wholesalers. He hopes to wait until after the
completion of the PUC audit, unless that audit drags on longer than the
next week or so. He is planning a "constructive investigation" and
pledges to be fair. The subcommttee will be staffed by the Speakers
Office of Oversight.
Also, Enron has been invited to testify at an informational hearing of
the Assembly Utilities and Commerce Committee on January 16, 2001. The
general topiic is how supply and demand affect the California market and
what options are available for new or repowered generation in
California. |
Aslo, a few links are below.
From BusinessWeek in 1997 http://www.businessweek.com/1997/30/b353757.htm
COMMENTARY: IN THE NEW ECONOMY, THE OLD RULES STILL LIVE
These are tough times for traditional inflation theory. A
soaring U.S. economy,
fueled by the forces of globalization and technology, has
pushed joblessness
down to levels not seen in decades. But consumer inflation
remains tame, and
producer prices are actually falling. Convinced that the New
Economy can
continue along this course, investors have bid the stock market
to new highs.
But there's a more classical view of the economy that still
should be heeded.
Virtually all mainstream economists say it's too early to scrap
economic theories
that for decades have reliably predicted inflation. Ignoring
these basics is
especially risky in a high-flying financial climate that is
sensitive to Federal
Reserve policy decisions.
INFLATION AND JOBS. First, a review of the Econ 101 lectures
you may
have slept through. The topic: Phillips curve theory and the
concept of NAIRU, a
clunky acronym for ''non-accelerating-inflation rate of
unemployment.'' Together,
these relate joblessness and inflation--NAIRU being the jobless
rate at which
inflation is stable. The Phillips curve/NAIRU model suggests
that inflation is
caused by excess demand--demand beyond what available workers and
machines can satisfy. The excess occurs when the jobless rate
dips below
NAIRU, causing wages and inflation to accelerate. But the
process doesn't end
there. Higher inflation reduces demand and labor markets
readjust, pushing
joblessness back to the NAIRU level. But the inflation persists
at the higher level,
partly because people adjust to it.
Despite the current, unusual situation of low unemployment and
low inflation, the
old model is alive and well among economists--and at the Fed.
''I am a strong
and unapologetic proponent of the Phillips curve and the NAIRU
concept,'' says
Federal Reserve Governor Laurence H. Meyer. Chairman Alan
Greenspan,
warming to the New Economy, is less enamored. But he
appreciates the model's
solid track record.
The Phillips/NAIRU model has practical limitations. But
understanding those
limits doesn't mean junking the theory. The model can still
work, but it's crucial to
peg the level of NAIRU--a moving target. Before globalization
and technology
pushed NAIRU below 6% a few years ago, the model had a
two-decade run as
one of forecasters' best-performing tools. Now NAIRU may be
even lower than
the generally accepted range of 5 1/2% to 5 3/4%.
It can take a year or more for inflation to pick up after a gap
opens between the
unemployment rate and NAIRU. That's why the Fed's experiment to
test the
economy's inflationary limit is dangerous. The wider the gap,
the more inflation
will rise--and it will not fall until the jobless rate exceeds
NAIRU. That is, until the
Fed steps in to clamp down on the economy, thus throwing a lot
of people out of
work.
ECONOMIC WINDFALLS. Another consideration: The Phillips/NAIRU
model cannot reflect good economic luck, and this U.S. business
cycle has had
more than its share: falling oil prices, a stronger dollar, and
weaker growth among
overseas competitors. Also, a slowdown in benefit expenditures
has curbed labor
costs, even as wage growth has picked up--as the model predicts.
Right now, the model does not forecast any strong pickup in
inflation. But for
every half point the jobless rate stays below NAIRU for a year,
inflation will
accelerate by a quarter point. And a stronger second half could
send the
unemployment rate even lower.
That's great--if you're seeking employment. But traditional
inflation theory says
that, if the Fed's current gamble with tight job markets fails,
the costs of excess
demand now will be foregone output and income later on. Even in
the New
Economy, the old approach to gauging future inflation should
scarcely be
ignored--it should be embraced.
By James C. Cooper
Updated July 17, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights
reserved.
Terms of Use
LINKS
I) My colleague Brad DeLong has a nice multimedia demonstration. Check out
his site, being sure to let pages run for a minute or 2:
http://econ161.berkeley.edu/multimedia/PCurve1.html
II) A British on-line model of the economy has two articles / sub-sites:
1. Unemployment Theories - Phillips Curve - Is unemployment inflated?
http://bized.ac.uk/virtual/economy/policy/outcomes/unemployment/unempth4.htm
and 2. Inflation Worksheet - The Phillips Curve - Trading off
unemployment and inflation
http://bized.ac.uk/virtual/economy/policy/outcomes/inflation/inflws2.htm
III) Nouriel Roubini has an overview article and additional links to the
current debate on NAIRU and limits to growth at
http://equity.stern.nyu.edu/~nroubini/NAIRU.HTM
David I. Levine Associate professor
Haas School of Business ph: 510/642-1697
University of California fax: 510/643-1420
Berkeley CA 94720-1900 email:
[email protected]
http://web.haas.berkeley.edu/www/levine/ |
Yes we do want to renew the option through September of next year and we will
need to persuade them to lower the option premium. Her is a thought: the
land fill closure cost is approximately $2.9 million. Could we create a new
option agreement that states that the strike price is $4.2 million ($1.3 the
original strike price plus the cost of land fill closure cost) so we could
pay an option premium of up to $210,000 (5% of $4.2 million). At closing, we
reduce the purchase price by the costs yet to be incurred in the closing the
land fill. Since Certosa Holdings will not start the closure until they are
assured that we will exercise the option if even then, the net cost to us
would drop back to the original strike price. Could we get this past the
accountants?
Only the memorandum of option was recorded.
-----Original Message-----
From: Mann, Kay
Sent: Wednesday, May 23, 2001 4:40 PM
To: Krause, Greg
Cc: Carnahan, Kathleen
Subject: RE: AEW's backup
I've skimmed it. I see that the option expires August 9th. Are we planning
to renew it? If so maybe we can renew early and fix what we can to preserve
some optionality (no pun intended) and cover the fee issue. Might take too
long to address the immediate issue.
I don't see anyway we can get around the balance sheet issue unless we let
the option expire and then reoption, but in that case the option payment
would have to be smaller (acct says an option of 5% creates a problem as it
would be considered a down payment). Just fyi.
Kathleen, was the option recorded, or just a memo of option, or neither? I'm
just wondering what is public info.
Herman is out of the office today, but I can discuss the fee issue to get his
vote.
More to come...
ckm
From: Greg Krause/ENRON@enronXgate on 05/23/2001 02:19 PM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
I think the invoice was for between $20,000 and $30,000, but I can't
remember. AEW has the invoice. This probably will not be the final as we
will need to work with them in discussions with DERM on delaying the landfill
closure and in moving jurisdiction of the project from CZAB to the County
Commissioners. I think Shutts & Bowen (who may get stiffed by their client
if this deal blows up) and Certosa Holdings would be open to any suggestions
and we need to renegotiate the option anyway. Shall I call and suggest this
this flat fee for retooling the option agreement to them or shall we do it
together? I,m not sure I could explain to them acequately the idiosyncrasies
of our accounting requirements.
-----Original Message-----
From: Mann, Kay
Sent: Wednesday, May 23, 2001 2:00 PM
To: Krause, Greg
Subject: RE: AEW's backup
How much is it and should this be the final amount? One thought I have is
that maybe we can retool the option agreement so that we pay them a flat fee,
which is enough to cover the expenditures. Don't know if this works, but it
is one thought. What do you think?
Kay
From: Greg Krause/ENRON@enronXgate on 05/23/2001 01:50 PM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
One more thing on the SDEC project: According to the option agreement we
executed last October, we agreed to reimburse Certosa Holdings for actual
third party costs that they incurred in support of our necessary
applications, submittals and in seeking local approval. Several weeks ago,
we recieved an invoice from Shutts & Bowen, attorney for Certosa Holdings
requesting reimbursement pursuant to the contract. I forwarded this invoice
on th Ann Elizabeth not necessarily to pay for but to review considering this
whole soft cost hard cost discussion. I recieved another call this morning
from Shutts & Bowen asking about the invoice. What should I do?
-----Original Message-----
From: Mann, Kay
Sent: Wednesday, May 23, 2001 11:03 AM
To: Krause, Greg
Subject: RE: AEW's backup
Greg,
You can call me on whatever you have, including Midway, SDEC and Medley
Dunn. If I have a problem getting to something, I'll find help.
Kay
From: Greg Krause/ENRON@enronXgate on 05/23/2001 10:50 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
Kay,
Ann Elizabeth did not provide a designated hitter for the South Dade Energy
Center (Dade Development Company LLC is Optionee, Certosa Holdings is
Optionor) nor did she provide one for tne Medley Dunn project. I have been
told that the Dunns are considering backing off their ultimatums that they
gave Ann Elizabeth and I regarding taxes to the town and assumption of
enviromental liability. Who do I talk to about the Dunn contract while Ann
Elizabeth is out?
-----Original Message-----
From: White, Ann Elizabeth
Sent: Tuesday, May 22, 2001 10:33 PM
To: [email protected]; Krimsky, Steven; Ben Jacoby/HOU/ECT@ENRON; Carnahan,
Kathleen
Cc: Milligan, Taffy
Subject: AEW's backup
Kay Mann is the designated hitter for the Pompano and Deerfied projects while
I'm on vacation. I've given her a down load of the status of Greg and
Steve's projects. Chris Boehler at A&K will be the designated hitter for
Midway. I'm not going to check my voice mail while I'm gone but, if
necessary, here are the contact numbers while I'm gone.
Walter and Marlena Schilling 011-49-8218-89351 [email protected]
Monika and Bernhard Steinacher 011-49-8232-8932 [email protected]
If you call, Walter and Bernhard and Bernhard's daughter, Susanne, speak very
good English. Monika's isn't bad. Marlena may get flustered and hang up on
you.
Best of luck at Deerfield and hope to see Pompano on track when I get back in
the office on June 11th. Kay is planning on going to Florida on June 12 for
the moratorium hearing and the rezoning hearing. |
Can we get any traction in supporting this? The premise is obviously
preaching to the choir, and we (as I am sure others do as well) have a string
of proposals starting with SDGEs in May or June that, if we melded their
timing and their prices into the attached timeline would be very damaging to
thinking people. However, are people really thinking, or has Davis and the
reporters tainted the waters too badly? What would be the result that we
would like to get from such an exposee? Do we really think that we could get
some sympathy for returning to a market based structure? Or, would we be
like the irritating kid who keeps saying "I told you so", so it does not
matter if he was right or not? Are there any legal issues in revealing the
prices? Does doing this through IEP help? (Note that the addition of prices
could not be done, I do not think, without naming companies, so we would be
there, partially revealed.)
My vote: if it does not hurt us (competitively, PR, etc.), if it is legal,
and especially if it can help make even a small amout of progress towards a
market based structure, I would do it. Of course, we could not go anymore to
restaurants near the CPUC......
I am out of town for the rest of the week, so I will leave the decision to
you guys. Whatever you decide, is OK.
PS - At the very least, we should feed our own proposals and their prices
into this timeline. Privately, we could show it to various parties on a case
by case basis to advance our cause. Just think about it... what if SDGE had
accepted our (and others) May/June proposals for 5.5 cents.....?)
----- Forwarded by David Parquet/SF/ECT on 04/24/2001 04:59 PM -----
Jean Munoz <[email protected]>
04/24/2001 12:56 PM
To: "'Andy Brown (E-mail)'" <[email protected]>, "'B Brown Andy (E-mail)'"
<[email protected]>, "'Baker Carolyn (E-mail)'"
<[email protected]>, "'Bob Escalante (E-mail)'"
<[email protected]>, "'Bob Weisenmiller (E-mail)'"
<[email protected]>, "'Curtis Kebler (E-mail)'"
<[email protected]>, "Dean. Nistetter (E-mail)"
<[email protected]>, "'Douglas Kerner (E-mail)'" <[email protected]>,
"'Greg Blue (E-mail)'" <[email protected]>, "'Jan Smutny-Jones (E-mail)'"
<[email protected]>, "'Jeff Dasovich (E-mail)'" <[email protected]>,
"'Joe Ronan (E-mail)'" <[email protected]>, "'John Larrea (E-mail)'"
<[email protected]>, "'Julee Malinowski-Ball (E-mail)'"
<[email protected]>, "'Kassandra Gough (E-mail)'" <[email protected]>, "'kent
Palmerton (E-mail)'" <[email protected]>, "'Lynn Lednicky
(E-mail)'" <[email protected]>, "Marie Moretti (E-mail 2)"
<[email protected]>, "'Marty Wilson (E-mail)'"
<[email protected]>, "'McNally Ray (E-mail)'"
<[email protected]>, "''Nam Nguyen' (E-mail)'"
<[email protected]>, "'Norton Kelli (E-mail)'"
<[email protected]>, "'Paula Hall-Collins (E-mail)'"
<[email protected]>, "'Pigott Jack (E-mail)'"
<[email protected]>, "'Richard Hyde (E-mail)'" <[email protected]>,
"'Roger Pelote (E-mail)'" <[email protected]>, "'Stephanie-Newell
(E-mail)'" <[email protected]>, "'Sue Mara (E-mail)'"
<[email protected]>, "'Tom Ross (E-mail)'" <[email protected]>, "Tom
Williams (E-mail)" <[email protected]>, "'Alex Sugaoka (E-mail)'"
<[email protected]>, "'Bill Carlson (E-mail)'"
<[email protected]>, "'Bill Woods (E-mail)'"
<[email protected]>, "'Bob Ellery (E-mail)'" <[email protected]>, "'Bob
Gates (E-mail)'" <[email protected]>, "'Cody Carter (E-mail)'"
<[email protected]>, "'Curt Hatton (E-mail)'"
<[email protected]>, "'David Parquet'" <[email protected]>,
"'Dean Gosselin (E-mail)'" <[email protected]>, "'Doug Fernley (E-mail)'"
<[email protected]>, "'Duane Nelsen (E-mail)'"
<[email protected]>, "'Ed Tomeo (E-mail)'" <[email protected]>,
"'Eileen Koch (E-mail)'" <[email protected]>, "'Eric Eisenman (E-mail)'"
<[email protected]>, "'Frank DeRosa (E-mail)'"
<[email protected]>, "Frazier Blaylock (E-mail)"
<[email protected]>, "'Hap Boyd (E-mail)'"
<[email protected]>, "'Hawks Jack (E-mail)'" <[email protected]>, "'Jim
Willey (E-mail)'" <[email protected]>, "'Joe Greco (E-mail)'"
<[email protected]>, "'Jonathan Weisgall (E-mail)'"
<[email protected]>, "'Kate Castillo (E-mail)'" <[email protected]>,
"'Kelly Lloyd (E-mail)'" <[email protected]>, "'Ken Hoffman (E-mail)'"
<[email protected]>, "'Kent Fickett (E-mail)'"
<[email protected]>, "'Lynn Lednicky (E-mail)'"
<[email protected]>, "'Marty McFadden (E-mail)'"
<[email protected]>, "'Paula Soos'"
<[email protected]>, "'Randy Hickok (E-mail)'"
<[email protected]>, "Rick S. Koebbe (E-mail)"
<[email protected]>, "'Rob Lamkin (E-mail)'"
<[email protected]>, "'Ross Ain (E-mail)'" <[email protected]>,
"'Steve Iliff'" <[email protected]>, "'Steve Ponder (E-mail)'"
<[email protected]>, "'Tony Wetzel (E-mail)'" <[email protected]>,
"'William Hall (E-mail)'" <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
Katie Kaplan <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>
cc:
Subject: LT Contracts: A History of Inaction by the CPUC
Attached is a history of inaction by the CPUC in regards to long-term
contracts. We are graphically portraying this as a timeline, incorporating
the quotes.
We would like to also incorporate any public long-term contract offers IEP
members made that utilities were not able to enter into because of the CPUC.
?This will once again help reinforce that IEP members are part of the
solution. ?
Please forward this information, or any other comments, to me or Katie by 8am
PST, Thursday April 26.
Please call if you have any questions.
Thanks,
Jean
--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)
- Long Term Contract Timeline |
Need a hard copy ... I don't have a password for cera
Eric Benson
01/20/2001 10:02 AM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron
cc:
Subject: High Speed Regulation in California - CERA Alert
Steve, Rick and Jim -
Below is an article from CERA that summarizes the current situation in
California.
Eric
+++++++++++++++++++++++++++++++++++++++
----- Forwarded by Eric Benson/NA/Enron on 01/20/2001 09:59 AM -----
[email protected]
01/19/2001 05:16 PM
To: [email protected]
cc:
Subject: High Speed Regulation in California - CERA Alert
Title: High Speed Regulation in California
URL: http://www20.cera.com/eprofile?u=35&m=2208
A Feverish Pitch
The pace of regulatory and political events in California has taken on the
feverish pitch of the energy market crisis itself. Important decisions
regarding a wide range of market structure issues are being made quickly at
the
California Public Utilities Commission (CPUC) and the state Legislature,
increasing the level of uncertainty most market participants already perceive
in the quickly evolving California market. Sudden changes are being made to
the
market structure, changes that used to require years in California,s complex
regulatory and legislative proceedings.
As rolling blackouts have rippled through urban centers of Northern California
on January 17 and 18, including in portions of downtown San Francisco,
Sacramento, and the Silicon Valley, state officials are scrambling to set up
the appropriate credit mechanisms to ensure the continued delivery of scarce
western energy supplies to California,s two largest utilities. Even at prices
near $800 per megawatt-hour (MWh), the California Department of Water
Resources
(CDWR), attempting to buy power on behalf of Pacific Gas and Electric (PG&E)
and Southern California Edison (SCE), has been unable to secure enough to keep
the lights on. In the mean time, legal actions by some energy suppliers
threaten to tip the utilities into bankruptcy*and are being held at bay only
by
direct intervention of California,s governor.
Below is a summary of the various state actions being pursued concurrently:
*California governor. California Governor Gray Davis continues to attempt to
act on behalf of PG&E and SCE to secure long-term contracts for supply from
merchant generation owners and marketers in California. On the same front, the
governor has been negotiating with generators in an attempt to keep them from
seeking compensation through the courts for energy delivered to the utilities.
Court-ordered reimbursement could prompt bankruptcy.
*Legislature. Bills have been approved to authorize continued power purchases
on behalf of PG&E and SCE by the CDWR, to restructure the independent system
operator,s (ISO) governing board to consist of five members appointed by the
governor, to restrict the ability of the ISO to enter into a broader
interstate
regional transmission organization (RTO) without the explicit approval of
California,s Electricity Oversight Board, and to prohibit the divestiture of
the investor-owned utilities, remaining generating assets until 2006. The
vehicle for pursuing authorization of state bond financing for acquisition of
transmission assets and construction of new generation facilities is still
being developed.
*California Public Utilities Commission. On January 18 the CPUC adopted a
decision prohibiting the sale of SCE,s Mohave Generating Station to AES. This
voids a sale that was announced but not closed. The CPUC also delayed
decisions
regarding SCE,s application to end its rate freeze and the prudency criteria
for utilities entering into long-term supply contracts.
Some of these issues will continue to evolve as they progress along their
respective and sometimes intersecting paths, and some will need to pass
through
multiple review bodies. This rapid and erratic evolution has not helped to
decrease either the financial risk associated with supplying energy to
California,s two largest utilities, or the level of uncertainty in developing
new generation to supply California in the future.
The ISO anticipates that it will call stage 3 emergencies (reserves less than
1.5 percent) for January 19 and will most likely continue to curtail
interruptible customers through the weekend. Western energy supplies are being
strained by recent heavy usage of hydroelectric facilities where water
supplies
are already as much as 25 percent below average, owing to low precipitation
and
continued plant outages near 9,000 MW in California. The gravity of the
financial condition of California,s two largest utilities is exemplified by
the
need for other, more creditworthy intermediaries, including California
municipal utilities, state agencies, and some unregulated energy suppliers, to
act as temporary guarantors for the acquisition of energy on behalf of PG&E
and SCE.
**end**
Follow above URL for full report.
*********************************************************
Come Shoot the Rapids with us at CERAWeek2001, "Shooting the Rapids:
Strategies and Risks for the Energy Future" in Houston, February 12-16, 2001!
For more information and to register, please visit
http://www20.cera.com/ceraweek/
*********************************************************
E-mail Category: Alert
CERA Knowledge Area(s): Western Energy,
**********************************************************************
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This electronic message and attachments, if any, contain information
from Cambridge Energy Research Associates, Inc. (CERA) which is
confidential and may be privileged. Unauthorized disclosure, copying,
distribution or use of the contents of this message or any attachments,
in whole or in part, is strictly prohibited.
Terms of Use: http://www20.cera.com/tos
Questions/Comments: [email protected]
Copyright 2000. Cambridge Energy Research Associates |
-----Original Message-----
From: Terry Myers
Sent: Tuesday, July 18, 2000 9:33 AM
To: Ted Bockius
Subject: FW: Bobby Riggins
-----Original Message-----
From: ? Cumings, Cindy [mailto:[email protected]]
Sent:?? Tuesday, July 18, 2000 9:32 AM
To:???? Cornell, Amy; Riley, Natalie; Famolare, Michael; Kishbaugh, Jann;
'Sharon Brass'; 'Sharon Fothergill'; Hawkinson, Carol; Gonzales, Rosario;
Ferrar, Brian; '[email protected]'; '[email protected]'; Ross,
Donna
Cc:???? Moore, Kathleen (ESD)
Subject:??????? RE: Bobby Riggins
Bobby can have visitors (no flowers or balloons though) during these times:
* 10:00 - 10:30
* 1:00 - 1:30
* 7:00 - 7:30
Kathleen Moore and I are going to see him today at 1:00.? If you would like
to send get well wishes to him, email me by 12:00 today and I will print off
your email and take it to him.?
Thanks,
Cindy Cumings
eMarketing Manager GVC
Compaq Computer Corporation
(281) 518-7762
[email protected]
Visit the GVC Inline site at <http://nonstop.inet.cpqcorp.net/easupport>
?
-----Original Message-----
From:?? Ross, Donna
Sent:?? Monday, July 17, 2000 7:17 PM
To:???? James, Katherine; Cranford, Lynn; Rowsey, Michele; Doan, Kathy;
??????? Hawkinson, Carol; '[email protected]';
'[email protected]';
??????? Duelm, Brian
Subject:??????? RE: Bobby Riggins bike accident news
An update note from Ellen Chadick with contact info on which hospital Bobby
is in.
---------------------------------------
All
Saym was just telling me that Bobby was in a serious cycling accident this
weekend.
He was part of a pack of riders, on the feeder.? A car came off the fwy,
plowed into 6 of them.? One was killed.? Bobby is in Neuro Intensive Care,
Ben Taub.? Both ankles crushed, punctured lung, crushed vertebrae, no
paralysis tho.? 10 hours of surgery.? Keep him in your thoughts and prayers.
Please pass the word to anyone I've missed.
Ellen
(Thanks, Saym, for letting me know.)?
-----Original Message-----
??????? From:?? James, Katherine
??????? Sent:?? Monday, July 17, 2000 5:05 PM
??????? To:???? Cranford, Lynn; Rowsey, Michele; Levy, Saym; Doan, Kathy;
??????? Ross, Donna; Hawkinson, Carol; '[email protected]';
??????? '[email protected]'; Duelm, Brian
??????? Subject:??????? Bobby Riggins bike accident news
Got a brief update.? Bobby has some crushed vertebrae in his lower spine.?
There doesn't appear to be any paralysis which is good.? His right ankle was
shattered and his left ankle was pretty bad too.? Both lungs were crushed.?
His surgery yesterday was spine and ankle related I think.? Ten hours worth.?
He was not life flighted, but Tim and Barbara were.? Tim's right leg is
shattered/crushed, his pelvis is broken and his collar bone may be broken.?
Tim has more surgery today.? Don't have any news on Barbara since I don't
know her.? They were riding on the 290 feeder road eastbound, very near the
end of the ride.? A large pick up style truck apparently exited the freeway
and hit them all from behind.? The guy I talked with was going to the
hospitals this afternoon and was going to call me later with more.? Yes,
Bobby on Saturday was himself somewhat - he apparently was asking about his
bike and water bottles!!!!? I'm sure he's thinking he'll go running this
weekend at the park!
> ????? ??????? From:?? Gonzales, Rosario
> ????? ??????? Sent:?? Monday, July 17, 2000 11:39 AM
> ????? ??????? To:???? Cartwright ALL
> ????? ??????? Subject:??????? Bobby Riggins
>
> ????? ??????? Jann, phoned this morning and asked me to pass this
> information to the group, concerning Bobby Riggins.
>
> ????? ??????? Bobby is a member of a bicycle team, while cycling this
> weekend, he and other members of his team were injured by a truck.? There
> was one death in the injured group and the others with major injuries.
> Bobby is one of those with major injuries.? He is currently in the
> emergency room at Ben Taub Hospital.? Ben Taub hospital is located at 1504
> Taub Loop, Houston, Texas, phone number: 713-793-2000.? He cannot accept
> calls, visits or flowers at this time, since he is in the emergency room.
> An update will be e-mailed, as soon as one is available.
>
> ????? ??????? Keep Bobby, his team members and their families in your
> prayers.
>
> ????? ??????? Rosario Gonzales
> ????? ??????? Administrative Assistant
> ????? ??????? ESSG
> ????? ??????? CCA-15, 150301, 153B09
> ????? ??????? 281-514-3183
> ????? ??????? [email protected]
>
-----Original Message-----
From:?? Fisher, Jeff
Sent:?? Monday, July 17, 2000 11:38 AM
To:???? 'Jonathan Meltzer'; Berry, Mark; Yanacek, Rich; Newcomer, Tom;
??????? Jones, Chris (Fitness)
Subject:??????? RE: bike accident news
Got a brief update.? Bobby has some crushed vertebrae in his lower spine.?
There doesn't appear to be any paralysis which is good.? His right ankle was
shattered and his left ankle was pretty bad too.? Both lungs were crushed.?
His surgery yesterday was spine and ankle related I think.? Ten hours worth.?
He was not life flighted, but Tim and Barbara were.? Tim's right leg is
shattered/crushed, his pelvis is broken and his collar bone may be broken.?
Tim has more surgery today.? Don't have any news on Barbara since I don't
know her.? They were riding on the 290 feeder road eastbound, very near the
end of the ride.? A large pick up style truck apparently exited the freeway
and hit them all from behind.? The guy I talked with was going to the
hospitals this afternoon and was going to call me later with more.? Yes,
Bobby on Saturday was himself somewhat - he apparently was asking about his
bike and water bottles!!!!? I'm sure he's thinking he'll go running this
weekend at the park! |
Content-Transfer-Encoding: quoted-printable
Date: Fri, 18 May 2001 08:40:43 -0500
From: "Tracey Bradley" <[email protected]>
To: "Justin Long" <[email protected]>, "Paul Fox" <[email protected]>
Cc: "Deanna King" <[email protected]>, "Ronald Carroll"
<[email protected]>
Subject: Scheduled blackout plan gaining favor
Mime-Version: 1.0
Content-Type: text/plain; charset=ISO-8859-1
Content-Disposition: inline
FYI
Scheduled blackout plan gaining favor
LIMITING PRICES: 3-state buyers' cartel with Northwest could create leverage
Lynda Gledhill, Chronicle Sacramento Bureau
Thursday, May 17, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/05/17/MN88959.DTL
More blackouts but no ransom payments for energy gougers -- that's a deal
looking increasingly attractive to California lawmakers and consumer
advocates.
The idea, which has attracted the support of some key lawmakers and the
cautious interest of Gov. Gray Davis, is for the state to set a firm ceiling
on what it will pay power producers for electricity this summer -- and not
one dime more.
The trade-off would be certain blackouts, possibly more than if the state
continues to pay any price electricity sellers demand.
Some advocates of the idea think that California could minimize the number of
blackout hours and gain a measure of control over the energy crisis by
scheduling service interruptions.
"We need to stop this game of electricity chicken," said Michael Shames,
director of the Utility Consumers' Action Network, which first proposed the
idea. "We are likely to see blackouts this summer; we should use them to our
advantage rather than be victimized by them."
The plan calls for creating a "buyers' cartel" of California, Oregon and
Washington. Essentially, the states would decide at what price they were
willing to buy power and refuse to purchase once it tops that level.
The state has spent $6 billion on energy purchases since January, and at one
point during last week's power shortage was spending $1,900 per megawatt hour
-- more than 10 times what Davis has planned on for this summer. That kind of
spending cannot go on, Democratic Assemblyman Fred Keeley of Boulder Creek
said yesterday.
"The question is, can we sustain the level of spending we have and have the
state maintain economic stability? I believe the answer is no," said Keeley,
the lower house's main figure on energy policy and author of the bill that
put the state in the power-buying business.
"To get this problem solved, we have to think in bold terms," said Keeley,
who introduced a resolution along with fellow Democratic Assemblyman Paul
Koretz of West Hollywood that urged Davis to form a cartel.
THREE STATES ARE BETTER THAN ONE
Davis said last week that "my bias would be to keep the lights on at any
price." But yesterday, the governor said a temporary price limit is
"certainly a matter we've talked about and considered at some length. The
next step will be to see how the governors of Oregon and Washington respond
to it."
A spokesman for Gov. Gary Locke of Washington said the matter is being
considered. Calls to the office of Oregon Gov. John Kitzhaber were not
returned.
The idea has appeal among some consumers who believe, as many state officials
do, that California is being gouged for electricity.
"I can see if our bills were $20 or $30 more, but this is ridiculous," said
Kimberly Chambers, an 18-year-old fashion design student from Oakland.
"Whatever it takes, I don't think we should have to pay for more."
But Yunah Kim, 36, who moved to the Bay Area from New York a month ago, said
blackouts should not even be considered.
"The infrastructure of government is coming apart, and it's the basic service
government is able to provide," she said. "Businesses are not going to put up
with that. It's very shortsighted. We just have to pay until there's a
solution."
Severin Borenstein, director of the University of California Energy Institute
in Berkeley, said blackouts might be worse than supporters of price limits
believe.
"I think they (power companies) would call our bluff," and sell their
electricity elsewhere, Borenstein said. "I don't think the state has the
ability to credibly commit to paying no more than 'X.' That would be a very
controversial decision."
Legislation is already in the works to give Davis the ability to enter into a
West Coast buyers cartel. A bill sponsored by state Sen. Dede Alpert, D-
Coronado, would allow the Independent System Operator to refuse to buy power
if it is too expensive.
The maximum the state would pay would be set by a formula, based on such
things as the cost of natural gas. A reasonable profit for power producers
would be built in, supporters said.
LOOKING FOR SOME CONTROL
Alpert said everyone wants to avoid blackouts, but that seems unlikely.
"Everybody I talked to -- once you establish that there will be blackouts --
both businesses and residents say, let's have control," Alpert said.
The California Manufacturers and Technology Association, which commissioned a
recent report that said unplanned blackouts could cost the state economy $21.
8 billion and 135,000 jobs, is considering whether scheduled interruptions
would be less harmful.
"The problem if we do (scheduled blackouts) is that we may have an inordinate
amount of blackouts," said Gino DeCaro, a spokesman for the group.
NO EASY TASK
The ISO, which runs the state's power grid, is scheduled to issue a report
tomorrow on how scheduled blackouts might work.
Sen. Debra Bowen, D-Marina del Ray, said that planning blackouts is not as
easy as it sounds.
"The difficulty is a pragmatic one -- the circuits are not wired to deal with
choices like we are having to make," said Bowen, who has been holding
hearings on how the state might better manage blackouts.
"Maybe we should be paying people to turn off their fuse box," Bowen said.
Chronicle staff writer Marsha Ginsburg contributed to this report. / E-mail
Lynda Gledhill at [email protected].
,2001 San Francisco Chronicle Page A - 1 |
You have been sent this message from [email protected] as a courtesy of the
Washington Post (http://www.washingtonpost.com). FYI. To view the entire
article, go to
http://www.washingtonpost.com/wp-dyn/articles/A32756-2001Jun6.html Steel
Lobbyists Gain the Edge
In persuading President Bush, a self-proclaimed free trader, to take steps
this week aimed at restricting imports of steel, lobbyists for the U.S. steel
industry used the threat that thousands of retired steelworkers in key states
would lose their health insurance if their companies closed.
The specter of an uprising by steel retirees, who substantially outnumber
active steelworkers, provided a potent political argument for the industry's
case that Bush should take drastic action to protect U.S. steel companies
from a worldwide glut even at the cost of tarnishing his free-trade image.
The argument was advanced by two top Republican lobbyists, Edward W.
Gillespie and Vin Weber, each of whom has been receiving $45,0!
00!
a month from an industry-union coalition called Stand Up for Steel.
The coalition scored a smashing victory Tuesday, when Bush announced that his
administration will file a case with the U.S. International Trade Commission
seeking to win authority to set quotas on steel imports. And although many
factors went into the White House's decision, industry sources and other
participants pointed to the concerns raised by Gillespie and Weber as a
classic demonstration of how a highly motivated constituency can sway an
administration that barely won the electoral college and lost the popular
vote.
"From a political perspective, this was not a hard case to make to a
government as closely divided as this one is," said Weber, a former
congressman, in an interview. Eighteen steel companies are "in one stage or
another of bankruptcy. All those retirees are facing loss of benefits."
Only about 150,000 people now work in U.S. steel facilities, but at some of
the biggest integrated steel!
ma!
kers -- which are in the worst trouble financially -- there are about six
retirees for every active worker. (The total number of retirees is slightly
more than 300,000, according to industry officials).
Adding to the political punch behind the Gillespie-Weber argument was the
fact that many of these retirees live in Rust Belt states that were hotly
contested in the last presidential election, including Pennsylvania,
Illinois, Ohio and West Virginia. The most fiercely contested state of all --
Florida -- is among the top eight states in number of retirees.
A lobbyist who worked against the steel industry, Lewis Leibowitz of the law
firm Hogan & Hartson, ruefully gave credit to his opponents' political skill.
Leibowitz represents the Consumer Industry Trade Action Coalition, which
consists of companies that favor free trade on the grounds that import
competition helps keep costs low.
"They did a lot, obviously," Leibowitz said, referring to Gillespie and
Weber. "This is an!
i!
ndustry that has something like 160,000 workers, and the market [value] of
all the companies is smaller than that of Amazon.com, and they've turned this
town upside down. So my hat is off to them."
The administration took other considerations into account, to be sure,
including the need to win support from steel state Democrats for
congressional authority to negotiate new trade agreements.
Jim Dyke, a spokesman for Commerce Secretary Donald L. Evans, asserted that
his boss was particularly moved by the pleas of union leaders who recalled
how their companies had shed workers and restructured in the 1980s only to
find themselves devastated anew by imports. Foreign steel shipments, which
account for about 20 percent of the U.S. market, reached record levels after
financial crises in Asia, Russia and Brazil in the late 1990s.
"Factories are closing, and people are losing their jobs, because there's not
a level playing field," Dyke said, repeating the administration's argument!
t!
hat a major reason for the oversupply of steel on world markets is the
subsidies that many foreign countries provided when they established their
national industries. "This fits in with the president's free-trade strategy."
Capitalizing on the administration's decision, Evans joined in a news
conference/rally yesterday with such top labor leaders as John Sweeney,
president of the AFL-CIO, and Leo Gerard, president of the United
Steelworkers of America, both of whom backed Democrat Al Gore in the 2000
presidential race.
"You can trust that we will be with you every step of the way until the
problem is fixed," Evans told the cheering crowd, which was reminded by other
speakers that the Clinton administration had balked at filing a case like the
one Bush intends to bring before the International Trade Commission. (The
Clinton administration, along with a number of industry lawyers, feared
losing the case at the time, but industry experts said another factor was the
staunch fr!
ee!
-trade stance of the Treasury Department.)
The Bush administration itself has balked at taking action that would
directly protect the benefits of steel retirees. The steelworkers union has
called for the government to create a fund that would help cover these
"legacy costs," but administration officials said their moves to block
imports should help protect benefits by aiding the industry's revival.
The White House will now have to contend with the ire of U.S. trading
partners, which have reacted with a mixture of indignation and restraint.
Long Tong Yu, China's top trade official, told a news conference at a trade
meeting in Zhouzhuang yesterday that although "China is concerned with any
protectionist practices or measures," it would wait to see whether the U.S.
action conformed with the rules of the World Trade Organization.
Akira Chihaya, president of Nippon Steel Corp. and the head of Japan's Iron
and Steel Federation, lashed out at the United States, saying he fears!
t!
he administration's move "will encourage protectionism, which has been
spreading globally."
But U.S. steel industry sources were crowing over the importance of a
professed free-trade president putting his imprimatur on an ambitious
initiative to save the industry. "He must be choking, but he wants to win
elections," one industry official said.
<em>Correspondent Clay Chandler in Shanghai contributed to this report.</em> |
Hi Barry,
I have scheduled our discussion for 1:30pm Wednesday August 29th and will
call you then - what number shall I call you at?
Regards,
Judy Perdomo
PricewaterhouseCoopers Calgary
International Assignment Solutions
(403) 509-7470
Fax (403) 781-1825
"Tycholiz,
Barry" To: Judith L. Perdomo/CA/TLS/PwC@Americas-CA
<Barry.Tycholiz@ cc: "Presas, Jessica" <[email protected]>
ENRON.com> Subject: RE: Counselling
08/27/2001 04:43
PM
let's go with weds at 1:30. I need to get this done. I will put on my
calender.
Jessica, pls ad to my calender and book room. should be for about 1 -
1.5 hours.
BT
-----Original Message-----
From: [email protected]
[mailto:[email protected]]
Sent: Monday, August 27, 2001 12:25 PM
To: Tycholiz, Barry
Subject: RE: Counselling
Hi, I'm back.
Please fax the IRS notice to me at the number below if you haven't
already
and I'll review it for you.
Regarding the counselling session, I am available tomorrow all day,
Wednesday afternoon after 1:30pm, Thursday afternoon after 2pm and
Friday
after 2pm. Next week I'll be out of the office Tuesday and Wednesday as
well as Thursday afternoon. The next week I am out of the office on a
course all week (Sept 8-14).
Will any of these time slots work for you?
Judy Perdomo
PricewaterhouseCoopers Calgary
International Assignment Solutions
(403) 509-7470
Fax (403) 781-1825
"Tycholiz,
Barry" To: Judith L.
Perdomo/CA/TLS/PwC@Americas-CA
<Barry.Tycholiz@ cc:
ENRON.com> Subject: RE: Counselling
08/13/2001 11:04
AM
Send me a note when you get back and we can set up a meeting then.
Also, I received a notice from the IRS and it appears that they were
missing information on my wife and as such disallowed me claiming her as
a dependent. I will send to your attention to review and clarify. Based
on my filing and actual refund there is about a $ 1k difference which I
believe is owed to me.
BT
-----Original Message-----
From: [email protected]
[mailto:[email protected]]
Sent: Tuesday, August 07, 2001 10:21 AM
To: Tycholiz, Barry
Subject: Counselling
Good morning Barry,
Just to let you know that I am on holidays August 11-26, so your
counselling will have to be this week or when I return.
Did Enron provide you with approval for a "Post Arrival
Consultation"/PAC?
This is the counselling our PwC Houston office does. (So, in effect
there
are two possible counselling sessions for assignees - the predeparture
counselling you are supposed to receive before you depart Canada and
then
there's the PAC). PwC Houston is prepared to set up the "PAC" - they
simply want to know if you received approval for it.
Thanks,
Judy Perdomo
PricewaterhouseCoopers Calgary
International Assignment Solutions
(403) 509-7470
Fax (403) 781-1825
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The information transmitted is intended only for the person or entity to
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The information transmitted is intended only for the person or entity to
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Governor wants to cut costs of power
Tough sell for Davis as suppliers balk
By Steve Geissinger
SACRAMENTO BUREAU
SACRAMENTO -- With an economic "perfect storm" and an election looming, Gov. Gray Davis wants to renegotiate several of the state's expensive long-term power contracts -- a move that could translate into a big break for Californians.
But the generators who signed the multibillion-dollar contracts to supply the state will be a tough sell on the notion, even though many have indicated they will at least listen to the state.
"If the politicians were to make all these contracts go away, ... who the hell is going to meet with the state and negotiate any (new) contracts?" asked Peter Cartwright, president of San Jose-based Calpine Corp., a major supplier of California power.
And many experts and analysts are skeptical about Davis' chances of getting generators to substantially lower the price of power they sell to the state, which, in turn, supplies California customers through various utilities.
"Good luck!" former Republican Gov. Pete Wilson sarcastically declared upon hearing of the Democratic governor's plan.
Davis, however, has suddenly thrust the idea of renegotiating some of the costly power-supply contracts to the center of a wildly complex tangle of fiscal, political and legal issues tied to the energy crisis, the ailing economy and their impact on the growing state budget deficit.
The outcome could affect the pocketbooks of energy consumers and taxpayers alike for years, perhaps decades.
"This could save billions of dollars," said Doug Heller of the Foundation for Taxpayer and Consumer Rights, one of the consumer groups that has embraced Davis' power contract renegotiation plan.
Barry Goode, Davis' legal affairs secretary, said the administration is "not targeting every contract" because the pacts have been "extremely valuable in keeping the market stable."
The governor's aides refused to reveal which generators they will approach or the arguments they intend to use on the companies, whose contracts don't require them to reopen negotiations with the state.
The governor signed more than 50 long-term contracts -- worth more than $40 billion -- with about two dozen generators at the height of the energy crisis earlier this year.
The state made short-term purchases to supply California after soaring wholesale prices shattered utilities, then entered the longer-term pacts that provide about a third of the state's power demands. The contracts range in duration from a few months to 20 years.
Though the contracts provide power at an average $69 per megawatt-hour over the next decade, the current market has dropped to less than half that rate. And the contracts provide more electricity than the state needs at times, forcing California to sell the excess at multimillion-dollar losses.
The long-term contracts, harshly criticized by Republicans seeking the GOP gubernatorial nomination, have become a political liability for Davis as he heads into a re-election bid next year.
The liability is compounded due to the pacts' potential role in what experts at a recent economic summit at Stanford University termed a brewing "perfect storm" of fiscal calamities.
The state Public Utilities Commission, principally citing a desire for less costly power, has refused to allocate a revenue stream -- generated from recent electricity rate hikes and anticipated bond proceeds -- to finance the long-term contracts.
The standoff has pitted Davis and Democratic state Treasurer Phil Angelides against another of the state's most powerful Democrats, Senate leader John Burton of San Francisco, who sided with the Democratic-controlled PUC.
Burton has called "for Californians to be freed from egregious, unreasonable and expensive provisions contained in these contracts."
The deadlock is holding up a $12.5 billion bond sale intended not only to help fund California's future power costs but repay state coffers for the billions of dollars spent earlier this year on emergency, short-term electricity purchases. It would be the largest municipal debt sale in U.S. history.
Without the bond issue, a projected general fund deficit of up to $14 billion next year could grow to a staggering $20 billion-plus, forcing Draconian cuts in essential government services, according to state finance officials.
The projected deficit of up to $14 billion in California's annual budget of about $100 billion stems from lagging tax revenue in a cooling economy, further chilled by the Sept. 11 terrorist attacks on the East Coast.
Against the backdrop of fiscal woes, analysts said successful renegotiation of some long-term power contracts could conceivably wind up sparing Californians electricity rate hikes, tax increases or both.
But some analysts are pessimistic, like Wilson. The former governor is widely blamed for legislation that triggered the energy crisis, and yet he in turn blames Davis for not acting quickly enough to head off power woes.
The Western Power Trading Forum, a group representing suppliers and brokers, has made it clear generators will expect the state to give them something substantial in return for any changes in the pacts. Such incentives might include settling disputes over power buys or the state dropping lawsuits against suppliers.
"We're not going to say no. We'd certainly sit down at the table with them and say, 'Let's see, maybe we can do this, maybe we can do that,'" said Calpine's Cartwright.
If state officials simply broke some of their contracts, not only would penalties be "very, very severe," but also "they would have completely blown their credibility, and no one would negotiate with them," Cartwright said.
His comments coincided with reports that Calpine's third-quarter profits more than doubled, despite a sharp drop in short-term electricity prices in California, one of its main markets. Analysts said Calpine's performance can be largely attributed to its long-term contracts with the state.
Heller, one of the state's most vocal consumer advocates, said Davis "is right to look back at the environment in which these contracts were signed and demand that the power companies come to the table and renegotiate, or even throw out many of the contracts."
"Last spring," Heller said, "power companies had a gun to the governor's head and, with staff that already had conflicts of interest, the administration signed some terrible deals." |
Maybe he's my long lost granddad! DF
Jeffery Fawcett
02/29/2000 10:15 AM
To: Drew Fossum/ET&S/Enron@ENRON
cc:
Subject: California Storage
Jim Fossum is about a hundred years old. He's been employed by nearly every
storage developer operating in the state. We knew him back in the early 90's
(that's 1990's) when he was trying to sell the "Ten Section" project to
Mojave Pipeline. The Ten Section is the project referred to in the press
clipping near Bakersfield, CA. Their other project ("Lodi") is in direct
competition with the "Wild Goose" storage project near Sacramento.
From: Drew Fossum 02/29/2000 10:01 AM
To: Lorna Brennan/ET&S/Enron@ENRON
cc: Steven Harris/ET&S/Enron@ENRON, Lee Huber/ET&S/Enron@ENRON, Susan
Scott/ET&S/Enron@ENRON, Lindy Donoho/ET&S/Enron@ENRON, Jeffery
Fawcett/ET&S/Enron@ENRON, Lorraine Lindberg/ET&S/Enron@ENRON, Kevin
Hyatt/ET&S/Enron@Enron, Christine Stokes/ET&S/Enron@ENRON, TK
Lohman/ET&S/Enron@ENRON
Subject: Re: California Storage
No, not that I know of. I've never met the western Fossum, but I do know the
guys who own Western Hub pretty well--John Strom and Larry Bickle. If we
have any interest in this project or other merchant storage in California,
these are the guys to deal with as they have mapped about 90% of the state
looking for salt or other storage plays.
ET & S Business Intelligence
From: Lorna Brennan on 02/28/2000 02:50 PM
To: Drew Fossum/ET&S/Enron@ENRON, Steven Harris/ET&S/Enron@ENRON, Lee
Huber/ET&S/Enron@ENRON, Susan Scott/ET&S/Enron@ENRON, Lindy
Donoho/ET&S/Enron@ENRON, Jeffery Fawcett/ET&S/Enron@ENRON, Lorraine
Lindberg/ET&S/Enron@ENRON, Kevin Hyatt/ET&S/Enron@Enron, Christine
Stokes/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON
cc:
Subject: California Storage
Drew, a relative of yours?
CA Merchant Storage Plant Passes Major Test
California regulators Thursday released a final environmental impact
report for the
state's second merchant underground natural gas storage project in the
Sacramento
Valley of northern California. Absent new opposition from surrounding
landowners,
Texas-based Western Hub Properties hopes to have its $80 million storage
project
operating by the end of this year, following a year's delay in the
approval process for
environmental review.
Western Hub is also pursuing a similar-sized underground storage project
in Texas and
it has identified a site for a second California storage operation in
the Bakersfield area,
according to Jim Fossum, Western's California operations manager.
Final approval of the Lodi Gas Storage Project located south of
Sacramento should
come in May, Fossum said, meaning that construction could begin this
summer and be
operational before the end of the year. "We see the environmental report
as the 'light at
the end of the tunnel'," Fossum said.
Under California's environmental review process (CEQA), the California
Public Utilities
Commission (CPUC) prepared a draft environmental report (EIR)
identifying the
project's environmental impacts and mitigation measures. The draft then
was circulated
to appropriate public agencies and the general public for comment before
the final
report can be issued. Three public hearings on the draft report were
held by the CPUC
last October.
Under the CPUC's procedures, a proposed decision from the administrative
law judge
for the case is due by mid-March, after which there is a 30-day period
before the
project can come before the five-member commission for a final decision,
a CPUC
spokesperson said.
"We hope to be on-line, and that is 'hope', this year because we already
have our
compressors and pipe, so it is just a matter of getting crews there and
that can go pretty
quickly," Fossum said. "In the best of all worlds it would be this year;
in the worst case,
it would be a year from now."
Western Hub has some of its customers lined up, and it is in current
discussions with
others, said Fossum, declining for competitive reasons to even identify
the types of
customers, although they are expected to be large shippers, marketers,
power plant
operators and other large industrial customers.
The Lodi project is designed for full operation as having a 12 Bcf
working capacity,
with 400 MMcf/d injection and 500 MMcf/d withdrawal capacities. It will
be
connected to Pacific Gas and Electric Co.'s backbone transmission system
through a
35-mile pipeline consisting of three miles of 30-inch-diameter and 32
miles of
24-inch-diameter pipe. During the past year's delay in start-up, Western
has "moved
the pipeline around a bit, but not a whole lot," Fossum said. "to make
accommodations
to nearby farmers."
Western Hub's similar-sized Texas project is south of San Antonio and
would be
connected with three natural gas transmission systems in the area:
Houston Pipeline,
PG&E --- Texas (bought recently by El Paso) and the City of San Antonio.
"We
expect to have it on-line the same time as Lodi," Fossum said.
Fossum said Western is "moving ahead" with a second California site in
the Bakersfield
area, but he declined to give any further details, noting Western Hub
expects to have
more definitive information next month. He did say that if a second
California project
moves ahead, Western expects to have it operational by early 2002.
Unlike northern California, storage in the Bakersfield area would not
have to connect
with the local utility transmission system of Southern California Gas.
The combined
Kern River/ Mojave interstate pipeline also comes into the area. |
See attached regarding Elektro's board membership. We would suggest that the
board slate be made up of Brazil residents in order to facilitate the
necessary meetings. I would like to include Joe Kishkill, John Novak, Brett
Wiggs, Britaldo Soares and Joao Carlos Albuquerque, all members of our
executive committee to substitute Rick Waddell, Diomedes, Jim Bannantine, and
Rick Lammers. If you agree, I will talk to Rebecca to finalize. Thanks
---------------------- Forwarded by Orlando Gonzalez/SA/Enron on 03/06/2001
05:17 PM ---------------------------
Orlando Gonzalez
02/04/2001 10:35 PM
To: Bruce Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: James A Hughes/ENRON_DEVELOPMENT, Rebecca McDonald/ENRON_DEVELOPMENT,
Jeffrey E Sommers/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter E
Weidler/NA/Enron@Enron
Subject: Re: Enron Global Assets Board Slates
Bruce, This solution does not work for Brazilian entities for legal
reasons. I will send a summary of the current situation and a proposal to
resolve. We can discuss during your visit. Thanks
Bruce Lundstrom@ENRON_DEVELOPMENT
31/01/2001 19:26
To: Mariella Mahan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Peter E
Weidler/NA/Enron@Enron, Orlando Gonzalez/SA/Enron@Enron, Christopher B
Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Scott
Gilchrist/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mark Schroeder/LON/ECT@ECT,
Richard Shapiro@Enron, Carol Howes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, David
Shields/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: James A Hughes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rebecca
McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Isabel
Romero/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Yvette Pinero/NA/Enron@Enron, Ann
Brown/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wendi
Hoelscher/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mrudula
Gadade/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Connie
Blackwood/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rejane
Pansiera/SA/Enron@Enron, Eduardo Robles/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Carla Galvan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sonnia
Reyes/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Leigh Ann Van
Houten/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Lauren
Hagerty/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Darlene
McKeever/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Larry
Pardue/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Tami
Scrudder/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Denise
Almoina/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Enron Global Assets Board Slates
Folks -
The Legal Specialists in EGA are working up new director/officer slates for
the EGA entities. We will be appointing the following list of directors for
EGA entities:
Rebecca McDonald
Jim Hughes
Jeff Sommers
Jim Derrick
Mark Haedicke
There will be some exceptions to this slate, particularly where local law or
the necessity of regular board attendance requires additional (or even
different) directors to be appointed. These will be considered on a
case-by-case basis. Allow the Legal Specialists the opportunity to come up
with their tentative slates and then we will give them to the regional heads
for comment.
Some of you will be asked to resign your current directorships. I hope that
no one will take offense to the fact of of the changed slates -- none is
intended. We have found that this common slate has made corporate governance
more efficient and less complicated.
Thank you for your cooperation. Please pass this message along to others in
your respective groups as you deem necessary.
Bruce
---------------------- Forwarded by Orlando Gonzalez/SA/Enron on 03/06/2001
05:17 PM ---------------------------
"Vasco de Castro Ferraz Junior" <[email protected]> on 02/23/2001
06:14:14 PM
To: [email protected]
cc: [email protected]
Subject: Re: Board Members
To be elected as a Board member a person must be a shareholder of the Company
(normally one share is transferred to such member) and tehre is no more the
requirement of the Brazilian residency.
There is no other mandatory requirements.
However one has to have in mind that from a practical point of view it is
not viable to have only non residents at the Board (frequent trips to Brazil,
less flexibility on timing to pass resolutions about ugent matters etc)
Ideally at least trhee shoul be resident in Brazil (present minum quorum to
held a Board Meeting.)
Vasco.
>>> <[email protected]> 2/4/01 11:39:09 pm >>>
Vasco What are the residency requirements for board membership? Are
there other specific requirements? I would like to send a proposal this
week. Thanks
"Vasco de Castro Ferraz Junior" <[email protected]> on 30/01/2001
12:53:03
To: [email protected]
cc:
Subject: Board Members
Orlando:
As per your request, please find bellow the names of all of the present
members of Elektro's Board.
Firstly is to be mentioned that according to Elektro's By Laws, the Board may
have a minimum of 4 and a
maximum of 7 permanent members (one obligatorily must be elected by
appointment of Elektros' employees) and a minimum of 2 and a maximum of 4
alternates (one obligatorily to act solely as alternate to the employees'
representative at the Board)
Permanent members:
Diomedes Christodoulou (President)
Orlando Goanz?lez
Ricky Linn Waddell
Geraldo Gon?alves Pereira (elected by appointment of Elektro's employees)
Vacant (3)
Alternate members:
James Martin Bannantine
Richard Allan Lammers
Ricardo Louren?o Carneiro (alternate to Geraldo Gon?alves)
Vacant (3)
The election and/or dismissal of the Board members has to be decided by the
shareholders of the company.
Normally the election o the Board members takes place at the annual
Ordinary Shareholder's meeting. (This year, our OGM is scheduled to take
place on April, 29th.)
However this matter can also be decided at any time via an Extraordinary
Shareholder's Meeting that has to be called trough a Board Resolution
that has to be publicized at the Official Gazette no later than 8 days
prior to date of such EGM.
Should the present number of the Board members be maintained (i.e 4
permanent and 3 alternates), the election of new members (from our side)
will have to be made upon the resignation of those presently on seat.
Should you deem necessary, please call me at your earliest convenience.
Least but nol east As I vave mentined to you the other day, it is quite
normal to appoint the senior legal council as an alternate to the permanent
members of the Board so that he may legally be present at all the board
meetings |
----- Forwarded by David M Gagliardi/TTG/HouInd on 06/04/01 10:03 AM -----
"Michael
Gagliardi" To: <[email protected]>, [email protected],
<mikegag@msn. [email protected]
com> cc:
Subject: Fw: True Orange E-Mail/Fax #57
06/04/01
09:41 AM
----- Original Message -----
From: [email protected]
Sent: Sunday, June 03, 2001 11:24 PM
To: [email protected]
Subject: True Orange E-Mail/Fax #57
True Orange E-Mail/Fax Service
Volume 9, Fax/E-Mail #57, Sunday, June 3, 2001
Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
Phone
512-795-8536
DT Lyle Sendlein Commits to Longhorns
Lyle Sendlein says he has known since he was a small child that he wanted
to
play football at Texas, so he said a new NCAA rule interpretation that
prohibits recruits committing while at a summer camp was no problem at
all.
"The mini-camp was today (Sunday), so I just called them Saturday and
committed," he said. "When they told me about the new rule, I just decided
to
take care of it in advance. I knew I was going to play for the Longhorns,
so
I didn't have any problem committing before I got here for the camp."
Sendlein was being recruited by all the top schools in the Pac 10, plus
Notre
Dame, Nebraska, Michigan and Penn State.
Coach Mack Brown said one of the Longhorns' top recruiting goals this year
was to sign several top defensive linemen, and, while he can't comment on
individual recruits, Sendlein is an outstanding defensive line prospect.
Sendlein said he was measured at the camp and came in at a shade over 6-4,
and he said he weighed in at 263. He also said he clocked a 5.0 in the 40,
"but it seemed like the times were all a little slow. I usually run 4.8 or
4.9." He is quick enough that he plays middle linebacker for Scottsdale
Chaparral, the Arizona big school state champion two years running after
going 14-0 in 1999 and 2000.
Sendlein brings to four the number of early commitments. DT Sonny Davis,
who
committed to Texas right out of Austin Lanier, is in junior college in
Mississippi and says he still plans to come to Texas when he graduates
from
the JC. That would put him on schedule to come in with next February's
signees.
OL Brett Valdez of Brownwood and DT Earl Anderson of San Marcos, two of
the
state's top prospects, also have committed to Texas. The Longhorns plan to
sign only three offensive linemen and Valdez was the first one they
offered.
They hope to get the other two from a threesome that includes Jeff Lebby
of
Andrews, Tony Ugoh of Houston Westfield and Justin Blaylock of Plano East.
Lebby and Blaylock attended Sunday's UT mini-camp.
Anderson is No. 3 and Valdez is No. 23 on my 25-man "difference-maker"
list.
Davis was in my top five his senior year and Sendlein would be in my top
10
this year if he played in Texas. In other words, this is a great quartet
to
start the UT recruiting bandwagon rolling.
DT Rodrique Wright of Alief Hastings, DE Travis Leitko of The Woodlands
and
WR Anthony Wright of Klein Forest, the top players in the state at their
respective positions, also attended the UT mini-camp Sunday. I talked to
all
of them tonight and they all like Texas, but they also are considering
several other schools and all three said they probably will not commit to
anyone this summer. I like the Longhorns chances with both Wrights, but I
think Leitko is so wide open that he could wind up at any of the five
schools
he is considering (UT, A&M, Stanford, Michigan and Notre Dame).
Texas A&M also had a mini-camp Sunday and Aggie reporters were saying no
one
at the camp was likely to get an offer at this point, so it would appear
that
the cream of the state's recruiting crop showed up in Austin. I know
Leitko,
Lebby, Blaylock, and both Wrights had offers from Texas before they came
to
the camp Sunday.
* * * *
The NCAA edict that prevents recruits from accepting scholarships while at
a
summer camp is strange because there are no new rules relating to camps.
It
seems that some NCAA bureaucrat just gave a new interpretation based on a
rule that that has been around for several years.
* * * *
FOOTBALL NOTES: Lindy's, the first reputable national college football
magazine I have seen this year, picks Chris Simms as the third best QB in
the
country and the best one in the Big 12. If he lives up to that hype, I
think
we can all buy our plane tickets to Pasadena. With the receivers the
Longhorns have in stock, a great quarterback would make the Texas offense
too
tough to handle by anyone on the schedule. To reach that level, Simms will
need to be much improved at looking off his receivers and much better at
throwing the ball away at times instead of forcing it into double
coverage. .
. Super RB recruit Cedric Benson of Midland Lee is already in Austin
working
out and getting ready for the season.
* * * *
My next e-mail/fax will be whenever events warrant.
* * * *
The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a
year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
26
newsletters and is published weekly during football season and twice
monthly
during most of the other months. It costs $45. Save by subscribing to both
for $130 (or $110 if you take the faxes via E-Mail or $99 if you take the
faxes and newsletter via E-Mail). Send check to address at the top of
page.
I also update my 900 number ? 1-900-288-8839 ? frequently with recruiting
news. My E-Mail address is: [email protected].
Get your FREE download of MSN Explorer at http://explorer.msn.com |
----- Forwarded by Jeff Dasovich/NA/Enron on 03/14/2001 04:53 PM -----
Jean Munoz <[email protected]>
03/14/2001 03:44 PM
To: Katie Kaplan <[email protected]>, "'Andy Brown (E-mail)'"
<[email protected]>, "'B Brown Andy (E-mail)'" <[email protected]>,
"'Baker Carolyn (E-mail)'" <[email protected]>, "'Bob Escalante
(E-mail)'" <[email protected]>, "'Bob Weisenmiller (E-mail)'"
<[email protected]>, "'Curtis Kebler (E-mail)'"
<[email protected]>, "'Douglas Kerner (E-mail)'"
<[email protected]>, "'Greg Blue (E-mail)'" <[email protected]>, "'Jan
Smutny-Jones (E-mail)'" <[email protected]>, "'Jeff Dasovich (E-mail)'"
<[email protected]>, "'Joe Ronan (E-mail)'" <[email protected]>, "'John
Larrea (E-mail)'" <[email protected]>, "'John Stout (E-mail)'"
<[email protected]>, "'Julee Malinowski-Ball (E-mail)'"
<[email protected]>, "'Kassandra Gough (E-mail)'" <[email protected]>, "'kent
Palmerton (E-mail)'" <[email protected]>, "'Kristin Vellandi
(E-mail)'" <[email protected]>, "'Lynn Lednicky (E-mail)'"
<[email protected]>, "'Marty Wilson (E-mail)'" <[email protected]>,
"'McNally Ray (E-mail)'" <[email protected]>, "''Nam Nguyen'
(E-mail)'" <[email protected]>, "'Norton Kelli (E-mail)'"
<[email protected]>, "'Paula Hall-Collins (E-mail)'"
<[email protected]>, "'Pigott Jack (E-mail)'"
<[email protected]>, "'Richard Hyde (E-mail)'" <[email protected]>,
"'Rob Lamkin (E-mail)'" <[email protected]>, "'Roger Pelote
(E-mail)'" <[email protected]>, "'Stephanie-Newell (E-mail)'"
<[email protected]>, "'Sue Mara (E-mail)'"
<[email protected]>, "'Theo Pahos (E-mail)'" <[email protected]>, "'Tom Ross
(E-mail)'" <[email protected]>, "Carol H Hudson (E-mail)"
<[email protected]>, steven kelly <[email protected]>, "'Anne Kelly (E-mail)'"
<[email protected]>, "'Chuck Cole (E-mail)'" <[email protected]>,
"'Delany Hunter (E-mail)'" <[email protected]>, "'DJ Smith
(E-mail)'" <[email protected]>, "'Hedy Govenar (E-mail)'"
<[email protected]>, <[email protected]>, "'Maureen OHaren
(E-mail)'" <[email protected]>, "'Mike Monagan (E-mail)'" <[email protected]>,
"'Phil Isenberg (E-mail)'" <[email protected]>, "'Robert Ross (E-mail)'"
<[email protected]>, "'Ron Tom (E-mail)'" <[email protected]>, "'Scott Govenar
(E-mail)'" <[email protected]>, "'Susan Mccabe (E-mail)'"
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>
cc:
Subject: IEP responds to Burton/Dunn investigation on market manipulation
As you know, ?Senator Burton held a press conference announcing Joe Dunn
chair of new senate committee to investigate energy market manipulation in
the wholesale energy market. ?Other members serving on the committee include:
?Debra Bowen, Martha Escutia, Maurice Johannessen, Sheila Kuehl, Bill Morrow
and Byron Sher.
The Committee's information gathering activities will begin immediately, and
the first hearing of the committee is planned for the first week in April.
(press release attached)
IEP responded with the following statement, and Jan responded to TV, Radio
and Print media immediately following the news conference at the state
capitol.
Thanks,
Jean
--
Jean Munoz
McNally Temple Associates, Inc.
916-447-8186
916-447-6326 (fx)
______________________________________________________________________________
_____________
Contact: ?Jean Munoz
??????????????????????????????????????????????????????FOR IMMEDIATE RELEASE
????????????????916-447-8186
??????????????????????????????????????????????????March 14, 2001
Statement by Jan Smutny-Jones,
Executive Director of Independent Energy Producers,
in Response to State Senate Energy Probe
"We understand that it is the responsibility of the legislature to ensure
that California ratepayers are protected . and we will fully cooperate, as we
have with other investigations, because we have nothing to hide.
"We believe this investigation will find nothing except that power producers
have been working around-the-clock to help keep the lights on in California.
?In fact, there have already been several investigations by the Federal
Energy Regulatory Commission the Public Utilities Commission and the
California Independent System Operator . and they have found no evidence of
withholding or wrong doing.
"As we have continued to state: the industry does not condone business
practices that lead to unreasonable prices. ?It is our objective to help
create a stable regulatory environment in which robust retail markets can
flourish to protect ratepayers.
"This crisis can only be resolved if we all work together to find solutions
and stop pointing fingers, which only creates an unstable political and
regulatory environment which will do nothing to increase supply or reduce
demand in California.
"If this turns into, in fact, a @witch-hunt? against generators who have been
providing electricity to California for months despite being owed billions of
dollars, my only question is who in their right mind would come to California
and invest in building new power plants? ?This sends a dangerous and chilling
signal to not only power providers, but anyone doing business or planning to
do business in California."
# ????????# ???????#
- Burton Press Release |
That's fine. I didn't want to change anything until I heard from you guys.
See ya!
John
At 11:06 AM 11/28/00 -0600, you wrote:
>
>John,
>
>Thanks. Stinson will be able to join us for dinner. He is opting out of
>the paper due to his big workload but we can get his perspective on
>the last 8 years he spent at Enron.
>
>Vince
>
>
>
>
>
>"John D. Martin" <[email protected]> on 11/28/2000 09:44:17 AM
>
>To: [email protected]
>cc:
>Subject: 2001 FMA European Conference
>
>
>Here's the info on the European conference. Just for your files.
>
>John
>
>>Date: Tue, 28 Nov 2000 08:40:39 -0500
>>From: Karen Wright <[email protected]>
>>Subject: 2001 FMA European Conference
>>To: [email protected]
>>X-Mailer: Mozilla 4.5 [en] (Win98; I)
>>X-Accept-Language: en,pdf
>>
>>2001 FMA European Conference
>>
>>The Fifth Annual European Meeting of the Financial Management
>>Association International (FMA) will be held May 31 and June 1, 2001 at
>>the Hotel Sofitel (Rive Gauche) in Paris, France. FMA's European
>>Meeting brings together academicians and practitioners with interests in
>>financial decision-making. The meeting provides a forum for presenting
>>new research and discussing current issues in financial management,
>>investments, financial markets and institutions, and related topics.
>>Keynote addresses and other special presentations will be held in
>>addition to research paper presentations.
>>
>>Paper Submissions
>>Research Papers. The program includes traditional research paper
>>presentations. Criteria used to determine the suitability of these
>>papers for the program include the nature of the research problem,
>>implications of the proposed research, the quality of the research
>>design, and the expected contribution of the research to the
>>literature. Please note that the purpose of these sessions is to
>>present new and unpublished research.
>>
>>Submission Fee. There is no submission fee for the FMA European
>>Conference.
>>
>>Submissions. Please follow these steps:
>>Complete the Presentation Form that can be downloaded at
>>www.fma.org/paris.htm. Carefully select the subject code on the
>>Presentation Form that most closely describes your research. The code
>>number you select will be used to select reviewers for your proposal.
>>
>>Send six (6) copies of your completed paper, along with the completed
>>Presentation Form, to the FMA office (Financial Management Association,
>>University of South Florida, College of Business Administration, Tampa
>>FL 33620-5500, USA).
>>Please note that only completed papers will be accepted for the FMA
>>European Conference review process.
>>
>>The paper submission deadline is Friday, December 1, 2000.
>>
>>You will receive an electronic confirmation of your submission within
>>six weeks of its receipt by the FMA office, and you will be notified of
>>the results of the reviewing process by the middle of February, 2001.
>>
>>Competitive Paper Awards
>>The Financial Management Association International is pleased to
>>announce that four (4) $1,500 awards will be presented in conjunction
>>with the 2001 FMA European Conference. The "Young Scholars" award will
>>be presented to the best paper authored by a Ph.D. student (or
>>equivalent) or recent Ph.D. (or equivalent) graduate. Three additional
>>$1,500 awards will be presented to the papers deemed "Best of the Best"
>>by the members of the 2001 FMA European Conference Competitive Paper
>>Awards committee. Please note that these awards will be made only if, in
>>the opinion of the FMA Awards Committee, a paper warrants such a
>>decision. The decisions of the FMA Awards Committee are final.
>>
>>Accepted Papers. If your proposal is accepted, the version of the paper
>>you submit will be sent to its discussant as soon as he/she is
>>identified. You are obligated to send the final version of your paper to
>>the discussant and session chair by April 27, 2001. You also are
>>obligated to present your paper in a professional manner at the assigned
>>FMA program session.
>>
>>The collegiality of the meeting provides a very special opportunity for
>>participants to share their work and to hear about the work others are
>>doing. Thus, individuals whose papers are accepted for presentation at
>>the 2001 FMA European Conference will be expected to either chair a
>>session or discuss a paper.
>>
>>Program Co-Chairs
>>
>>Francois Degeorge
>>HEC Paris
>>1 rue de la Lib,ration
>>78351 Jouy en Josas Cedex
>>France
>>33-1-39-67-72-34 (ph)
>>33-1-39-67-94-34 (fax)
>>[email protected]
>>
>>Kent Womack
>>Dartmouth College
>>Amos Tuck School
>>Hanover, NH 03755
>>1 603 646 2806 (ph)
>>1 603 646 1308 (fax)
>>[email protected]
>>
>>Additional Opportunities For Participation
>>
>>Session Chairperson or Discussant. If you wish to serve as the
>>chairperson of a session or paper discussant, but are not submitting a
>>paper, please complete the Participation Form which can be downloaded
>>from www.fma.org/paris.htm. Submit the completed form to the FMA office
>>by December 1, 2000. Session organization will take place in March,
>>2001.
>>
>>Deadline Summary
>>
>>Completed Papers: December 1, 2000
>>Chairperson/Discussant Requests: December 1, 2000
>>
>>
>>
>John D. Martin
>Carr P. Collins Chair in Finance
>Finance Department
>Baylor University
>PO Box 98004
>Waco, TX 76798
>254-710-4473 (Office)
>254-710-1092 (Fax)
>[email protected]
>web: http://hsb.baylor.edu/html/martinj/home.html
>
>
>
>
John D. Martin
Carr P. Collins Chair in Finance
Finance Department
Baylor University
PO Box 98004
Waco, TX 76798
254-710-4473 (Office)
254-710-1092 (Fax)
[email protected]
web: http://hsb.baylor.edu/html/martinj/home.html |
Yesterday's moribund "action" steeped into Tues' trading - then at 2PM
things sold off. It was grim unless you were an oil/ oil service or a
biotech. Starting at 2PM the Nasdaq lost 128 points to close down 65, the
Dow Industrials lost 45 points to close off nearly 80. On the bright side -
in the oils and drillers - TX & HAL up over 6%, SLB & XOM up over 3%, BHI
up over 5%/ In the utilities - ENE up over 5 1/2%, PCG and REI up over 3%,
DUK up over 2% and the drugs AHP up 3 1/2%, PFE and BMY up over 1 1/2% -
lots of talk about MYGN finding a gene for prostate cancer - up over 20%....
then there was the rest of the market - the financials - AXP, LEH, CMB, BAC
all down over 3%.... Then there was tech - some of the laggards of late
showed some strength - QCOM up 2% and MSFT and DELL* up over 4%.... however
SUNW, AMAT, MU, TXN, EMC all down over 4%, CSCO down 3%, YHOO down 1 1/2%...
no it wasn't pretty. In the CEUT Universe - ITWO* down over 7, MANU* down
over 1 1/16... BWAY* up up over 3, USIX* down over 2.... AMZN* and EBAY*
down over 3, CTAC* up over 2 1/2 (almost 10% - technical breakout).... AMCC*
down over 15 (questions about a shortfall on an order), PMCS* down over 7,
SSTI* down over 4, ZRAN* down over 1 1/2... LU* down over 1 3/4, JDSU* down
over 2... DELL* up over 1 1/2, CPQ* up small (boxmakers were generally up),
ANCR* down over 2 1/2, BRCD* up over 1 3/8... PROX* down over 5 1/2, RIMM up
over 1 1/4 and IIIM* up 1 to almost 15 (once again this stock was under 7
recently).... MERQ* down over 7, MUSE* and NTIQ* up over 3, VRTS down 8...
DISH* down over 4, GILTF* down over 3, GMH* up over 2 (announced 3 for 1
split after close), SPOT* down over 3 3/4, PGTV+ down over 11% (guess that
GMH talk wasn't true)..... In IPOland - Founders Food and Firkins (GCFB) -
owns Granite City Food and Brewery PPI # Friday will set the tone - till
then we might be treading water.
GE and CSCO - forming new co. to improve manufacturing via tech.
Alcatel - 3 seperate lawsuits - patent and copyright issues - vs. CSCO.
INTC's Andy Grove - breaks from industry view - wants net transactions to be
taxed.
Warner - settling problems with MP3.com.
AOL/TWX - submitting "remedies" to European Comm. to get okay on merger.
Nortel co-market deal with Juniper
QCOM - new game-plan for China - build out local areas and get everyone on
CDMA.
Chello Broadband - parent still involved in deal-making - will probably
delay IPO.
WCOM - $3.5 million "slamming" fine - changing people's long distance
without their knowledge.
James Cramer - files counter-suit vs. Fox.
T - raising long dist. rates for basic customers.
Amadeus joining BroadVision - creating online travel site.
SupplyForce.com - $52 million 2nd round b to b.
GMH* - 3 for 1
New Virus - attacks text based phones and pagers.
WR Hambrecht - raises $83 million - American Express, Scudder, JF Shea Co.
and others.
Astral Point Comm. - optical net co. - gets $40 million.
American Broadband - regional broadband network - raising $200 million.
EOnline.com - ASP - gets $60 million led by Morgan Stanley Dean Witter.
JBL - over $500 million spot secondary by Thomas Weisel Partners.
NY Times - HON going to net - lots of work but lots of reward.
NY Times - special e-commerce section.
AtHome cooperate with Cox - interactive TV in San Diego.
Beenz.com - $52 million for domestic and overseas expansion.
TFSM - iPromotions acquisition - watch out DCLK.
MSFT - $15 million in OnSite access - commercial broadband Infrast.
Congress - "no tax" net bill has provision to let FCC regulate net long dist
calls.
eParties - event planning co. backed by eCompanies - merging not going
under.
EBAY* - FBI looking at bidding schemes.
LEH - buys big stake in Turkish ISP.
JP Morgan - fined $200,000 for not representing Nasdaq orders.
FXall.com - 7 big banks in International currency trading consortium.
WSJ Heard - MSFT - restrictions scare investors more than break-up.
WSJ Heard in Europe - Freeserve - what price? T-Online balking?
Palm - buys Actual Software - email provider.
Safeway - exclusive with groceryworks.com
Playboy Ent. - bachelor party site featured on theknot.com (major wedding
site).
Asahi Glassx, Mitubishi and Net One Systems - marketing faster optical fiber
- threat to GLW?
C.E. Unterberg Towbin: Catherine Moore marketing in Denver/ Jim Poyner
marketing in NY/ Karl Motey marketing in NY/ In house Sat. Seminar.
There it talk: Delta and American Airlines?/ DT for Q?/RD for TX?/ CSCO for
FNSR?/
The information contained herein is obtained from sources we believe to be
reliable but its accuracy and completeness, and that of the opinions based
thereon, are not guaranteed. C.E. Unterberg Towbin, or one or more of its
partners, may have a position in any of the securities discussed herein. All
rights reserved by C.E. Unterberg Towbin. May not be reproduced in whole or
in part without prior written authorization. This report is not an offer to
sell or solicitation of an offer to buy the securities mentioned herein.
*C.E. Unterberg Towbin makes a market in this security and/or has analyst
coverage.
+C.E. Unterberg Towbin makes a market in this security and has been involved
in a recent financing.
_____________________________
Bram Towbin
C.E. Unterberg Towbin
10 East 50th Street
New York NY 10022
Telephone: 212 572 8163
Fax: 212 759 4032
[email protected]
----------------------------------------------------------------
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Please note that C.E. Unterberg, Towbin does not allow the use of e-mail to
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Thank you for subscribing to the Alaska Airlines and Horizon Air Web
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Web Specials are a great way to save on flights with Alaska Airlines and
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Alaska Airlines and Horizon Air offer Web Specials for travel originating
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Seattle, WA - Burbank, CA - $199.00
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Offer is for a very limited time and is subject to change without notice.
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Reservations must be made using the Alaska Airlines Web Site. Tickets
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last date of your planned travel.
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segment fees of $2.50 per flight segment. A flight segment is defined as
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Tech Stock Alert, April 30, 2001
Dear Fellow Investor,
Where IS the NASDAQ headed next? Will Greenspan's latest rate cut
yesterday finally be the trigger for the market to take off? Will
the hundreds of technology stocks that crashed and burned in 2000
EVER make a comeback? Is the Bush Administration good--or bad--for
the stock market?
These are the crucial questions facing all investors today.
Problem is--nobody's got ANY concrete answers.
As a result, the market continues to flounder in no-man's land,
up one day and down the next. And investors, shaken from last year
and afraid of what could lie ahead, have adopted that classic 'wait
and see' attitude.
And THAT'S what gives us the FANTASTIC OPPORTUNITY we have today. My
name is Michael Murphy, and I've been analyzing and investing in
technology stocks for over 30 years. This is what I want to tell you
today: While everyone else sits on the sidelines, smart investors who
know--and act on--the five things you CAN count on in 2001 have an
unprecedented opportunity to profit--big time.
Let me show you what these five critical pieces of information are:
1. Biotech is the Next Big Thing in technology, and anyone who plans
on being in the stock market for more than 10 minutes MUST own a piece
of it today. Last year alone, the AMEX Biotech index was up a whopping
62% and my Technology Investing clients made over 100% returns with
select biotech stocks. But, mark my words, now that Celera published
the entire human genome sequence in Science magazine this past February,
the stocks will soar to previously unimagined heights.
2. Federal Reserve Chairman Alan Greenspan has proven that he will do
EVERYTHING in his power to avoid recession in 2001. Since January
alone, he has made four separate, significant interest rate cuts
and it's painfully obvious Greenspan doesn't want to be blamed for
sending the economy into a tailspin.
3. The big technology companies will bounce back FIRST. After a year
like 2000 investors are in no mood to make bets on small, unproven
stocks. They still want to profit from the fastest-growing industries--
but they want to do it more safely by buying the big, profitable
companies. The proof is in the pudding: in January alone my Technology
Investing readers raked in 31% on the dominant industry leaders we
loaded up on--at huge discounts--at last year's end.
4. Technology will continue to grow at four to five times the rate
of the Old Economy -- even this year. Despite what you're hearing in
the media, market researchers are projecting PC sales growth of at
least 11%, semiconductor revenues up 10%, cell phone sales jumping
12%-25% and a leap in most end-user consumer products of 10%-15%.
5. There's a monstrous BUYING PANIC coming. It will either make you
rich... or bury you alive. Once investors realize where technology
is really headed in 2001 and beyond, there's going to be a MAD DASH
to pile back into the stocks as quickly as possible. Most investors
will be too late, and they'll wind up kicking themselves once again
as they miss most of the NEXT BIG RUN UP. Don't let that happen to you.
We've been through this before--in 1974, 1994 and most recently in 1998.
Last time, my readers and I loaded up on a handful of the world's most
dominant technology companies at crazy-cheap prices . . . and we made
a killing. Twelve short months later we were up an astounding 157%.
I never thought it possible, but we now have an amazing opportunity to
do it all over again. Please, I implore you, make the most of it. To
find out the names of the 5 technology stocks I,m advising my clients
to load up on here, visit
http://www.ppi-orders.com/index.htm?promo_code=0AK194 and sign up for
my just-released FREE REPORT, "5 Technology Stocks Every Investor Must
Own--BEFORE the Coming Buying Panic." You,ll be glad you did.
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TODAY'S HEADLINES
The New York Times on the Web
Friday, May 11, 2001
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com
QUOTE OF THE DAY
=========================
"Is the question, How fully can we engineer the human body to
do physically impossible things? If it is, what do you have
at the end of that? Something that looks like a human, but
is so engineered, so tuned, that it's no longer going to do
what the body is designed to do."
- DR. THEODORE FRIEDMANN, director of the gene therapy program at the
University of
California at San Diego.
Full Story:
http://www.nytimes.com/2001/05/11/sports/11GENE.html
NATIONAL
=========================
F.B.I. Kept Reports From the Defense in McVeigh's Trial
http://www.nytimes.com/2001/05/11/national/11EXEC.html
Boston Journal: Hold Please, the Governor Is About to Give
Birth
http://www.nytimes.com/2001/05/11/national/11GOVE.html
Paddling Foes Get Change in Amendment on Liability
http://www.nytimes.com/2001/05/11/national/11PADD.html
Many Utilities Call Conserving Good Business
http://www.nytimes.com/2001/05/11/national/11CONS.html
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download any two audiobooks for only $12.95. Now she can
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or grandmom on the block. MP3 Player - they're not just for
music anymore.
http://www.audible.com/nyt/feboffer3
\---------------------------------------------------------/
POLITICS
=========================
Congress Adopts Plan to Cut Taxes Over Next Decade
http://www.nytimes.com/2001/05/11/politics/11BUDG.html
Many Utilities Call Conserving Good Business
http://www.nytimes.com/2001/05/11/national/11CONS.html
Judge Bars New Forest Rules, Citing Potential Local Harm
http://www.nytimes.com/2001/05/11/politics/11FORE.html
Bush Names a Drug Czar and Addresses Criticism
http://www.nytimes.com/2001/05/11/politics/11DRUG.html
INTERNATIONAL
=========================
House Warns U.N. of Pocketbook Revenge
http://www.nytimes.com/2001/05/11/world/11NATI.html
Bush Asks Congress to Grant Him a 'Fast Track' in Trade
Talks
http://www.nytimes.com/2001/05/11/world/11TRAD.html
Militants in Zimbabwe Now Take Aim at Industry
http://www.nytimes.com/2001/05/11/world/11ZIMB.html
Candidates in Italy Test TV's Muscle
http://www.nytimes.com/2001/05/11/world/11ITAL.html
BUSINESS
=========================
Insurer Pushes to Sell Top Allergy Drugs Over the Counter
http://www.nytimes.com/2001/05/11/business/11FDA.html
American International and American General Near a $23
Billion Merger
http://www.nytimes.com/2001/05/11/business/11INSU.html
California Bets the House on Energy Savings
http://www.nytimes.com/2001/05/11/national/11SAVE.html
Hedge Fund Managers Said to Talk to Grand Jury
http://www.nytimes.com/2001/05/11/business/11HEDG.html
TECHNOLOGY
=========================
Shift in Technology Markets Is Helping I.B.M., Chief Says
http://www.nytimes.com/2001/05/11/technology/11BLUE.html
Judges Seek Answers on Computer Code as Free Speech
http://www.nytimes.com/2001/05/11/technology/11CODE.html
Cyber Law Journal: Does a Parody Site Go Too Far?
http://www.nytimes.com/2001/05/11/technology/11CYBERLAW.html
Judge Postpones Retrial in Internet Sex Abuse Case
http://www.nytimes.com/2001/05/11/technology/11CYBE.html
NEW YORK REGION
=========================
3 Killed and 2 Are Wounded Above Busy Midtown Block
http://www.nytimes.com/2001/05/11/nyregion/11SHOO.html
Everyone Wants to Fix Rent Regulations. No One Knows How.
http://www.nytimes.com/2001/05/11/nyregion/11RENT.html
Ferrer Learns Difficulty of Ethnic Politics in a Changing
City
http://www.nytimes.com/2001/05/11/nyregion/11SHAR.html
Student's Father Tells Jury of Identifying Her Body
http://www.nytimes.com/2001/05/11/nyregion/11WATK.html
SPORTS
=========================
Getting the Athletic Edge May Mean Altering Genes
http://www.nytimes.com/2001/05/11/sports/11GENE.html
No More Springtimes for the XFL
http://www.nytimes.com/2001/05/11/sports/11XFLL.html
Kasparaitis's Goal Rescues the Penguins
http://www.nytimes.com/2001/05/11/sports/11BUFF.html
Mets' Downward Spiral Quickens
http://www.nytimes.com/2001/05/11/sports/11METS.html
ARTS
=========================
Dylan Keeps A-Changin', Making Him a Hard Act to Follow
http://www.nytimes.com/2001/05/11/arts/11DYLA.html
On TV, Crime Will Pay, as Hit Series Show
http://www.nytimes.com/2001/05/11/arts/11COPS.html
The James Ensor Show: A Haunting Beauty in a Carnival of
Follies
http://www.nytimes.com/2001/05/11/arts/11KIMM.html
Safari Through Troves of African Wonders in Brooklyn and
Chelsea
http://www.nytimes.com/2001/05/11/arts/11AFRI.html
OP-ED COLUMNISTS
=========================
By THOMAS L. FRIEDMAN: Empty Deeds, Ugly Words
For the son of Hafez al-Assad to be accusing anyone of
religious intolerance is laughable.
http://www.nytimes.com/2001/05/11/opinion/11FRIE.html
By GAIL COLLINS: The Year of the Stork
Ever since Jane Swift ran for lieutenant governor of
Massachusetts, her life has resembled one of those old
"Airport" movies in which there's a bomb on the plane.
http://www.nytimes.com/2001/05/11/opinion/11COLL.html
HOW TO CHANGE YOUR SUBSCRIPTION
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===================================================
JoC Online Daily E-mail Newsletter
Friday Edition
October 19, 2001
www.joc.com
===================================================
Take the Daily Quiz, sponsored by APL.
The drachma is the currency of which European country?
Click on
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50PuU0AS
===================================================
TODAY'S TOP HEADLINES:
* Senate revises port security bill again
* Galveston slates vote on port merger
* Industry celebrates 25 years of Ready Reserve Force
* Mineta touts Sea-21 program
* Seaway workers poised to strike in Canada
* UPS eyes more China flights
* Expeditors delays financial filing after website crackdown
* Operating income declines at Tropical Shipping
* NCBFAA to hold export-import seminars
* Walter Johnson, air-cargo pioneer, dies
* DHL, Unishippers form partnership
* Target Logistics Services goes Hollywood
* Air carriers cut fee for perishables from India
* JoC Week: ID for "known shippers'
==================ADVERTISEMENT====================
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The 16-page, easy-to-read booklet is full of practical
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===================================================
SENATE REVISES PORT SECURITY BILL AGAIN
The focus of the bill has turned from predominantly
cargo crime to terrorism, Bethann Rooney, port
security coordinator for the port commerce
department of the Port Authority of New York
and New Jersey, said at a Friday conference.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RE30A7
GALVESTON SLATES VOTE ON PORT MERGER
After several months of delays, the Galveston
City Council has called an election for Dec. 18
to let voters decide the proposed merger
between the Port of Galveston and Port of Houston.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RE40A8
INDUSTRY CELEBRATES 25 YEARS OF READY RESERVE FORCE
Transportation Secretary Norman Y. Mineta tells
350 attendees that the RRF's success is a result
of its "strong public private partnership between
government, industry and labor."
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RE50AA
MINETA TOUTS SEA-21 PROGRAM
The transportation secretary again pushes for a program
that would concentrate resources for U.S. maritime
transportation infrastructure the way TEA-21 and AIR-21
programs have done for land and air transportation.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RE60AB
SEAWAY WORKERS POISED TO STRIKE IN CANADA
Union officers for 560 workers and Canada's St. Lawrence
Seaway Management Corp. were holding last-ditch negotiations
to avert a strike scheduled for Saturday afternoon.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RE70AC
UPS EYES MORE CHINA FLIGHTS
Six months after launching direct service, the carrier says
it plans to start at least one more flight within two
three years.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RE80AD
EXPEDITORS DELAYS FINANCIAL FILING AFTER WEBSITE CRACKDOWN
The Seattle-based forwarding and logistics company
has postponed its 8K finance report until Oct. 26
because its website would not accept investor queries
for nearly a month after it tightened security because
of unwanted e-mail.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFA0AN
OPERATING INCOME DECLINES AT TROPICAL SHIPPING
The company said the soft Caribbean market
"more than offset the positive contributions
of higher average rates and lower operating costs."
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFB0AO
===================================================
DON'T MISS OUT ON YOUR OPPORTUNITY TO BE RECOGNIZED
BY THE TOP LEADERS IN GLOBAL TRADE!
The deadline to reserve your advertising space in the
"2002 Directories of U.S. Importers and Exporters"
is now OCTOBER 22, 2001. Available on CD-ROM and as
a two-volume set, these directories offer comprehensive
company profiles and commodity descriptions on the top
U.S. importers and exporters. Call (877) 203-5277 or visit
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50QVr0AR
for more information.
===================================================
NCBFAA TO HOLD EXPORT-IMPORT SEMINARS
The seminars consist of two, one-day sessions
focusing on all aspects of export and import
management and are designed to address current issues.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFC0AP
WALTER JOHNSON, AIR-CARGO PIONEER, DIES
He was one of the founders of The International Air
Cargo Association and a past president of the organization.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFD0AQ
DHL, UNISHIPPERS FORM PARTNERSHIP
Under the two-year agreement, the two companies
will improve the efficiency and affordability
of international express services for the small
to medium-sized market segment.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFE0AR
TARGET LOGISTICS SERVICES GOES HOLLYWOOD
The company has formed a new division called
Entertainment Media Logistics to meet the
transport needs of the entertainment and
media industries.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFF0AS
AIR CARRIERS CUT FEE FOR PERISHABLES FROM INDIA
Airlines agreed to reduce the surcharge after complaints
by the the Federation of Indian Export Organizations
and a strike by exporters of perishable products.
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50RFG0AT
...and only in JoC WEEK
CUSTOMS' NEW AUDIT PLAN
The agency has introduced a new compliance-assessment
program that it says will cover more importers and be
less intrusive.
To subscribe, visit
http://news.joc.com/cgi-bin7/flo?y=eDOO0BejkZ0n50QAO0AV
===================================================
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Copyright 2001 The Journal of Commerce Group |
The Austin Group Energy, L.P.
Monthly Newsletter
Let's describe a typical and recurring nightmare for generating unit
operators. It's noon on August 15, temperatures have reached the upper 90s
all week; you're well into your reserve margin to serve native load, when a
unit trips off line. Do you scramble to find replacement power at record
high prices and worry about the consequences later? Or, have you prepared
for this event?
When the degree of risk has not been quantified, fear of the unknown can
lead to restless nights, and understandably so. The financial implications
can be astounding when a unit outage occurs during a period of high spikes
in market prices.
How does this relate to the recruitment and hiring of talent within your
shop? Allow me to bring the story together. What would you do if your top
employee came to you and said, "You've been great to me and I've learned
alot, but I just accepted a job at your level right down the road and they
like me so much they want me to start tomorrow." Do you spring into 911 mode
or are you ready for this day.
Start a relationship today with The Austin Group Energy. We will keep you
aware of all available talent in your market area. These candidates are
currently employed and do not answer ads. They stay in touch with
opportunities through us to ensure confidentiality. Why would Top 5
marketing companies pay us for the recruitment and placement of over 400
successful hires when they could hire them on their own. The smart and
proactive companies understand how to outpace the pack when it comes to
hiring talent, they call The Austin Group Energy.
THE FOLLOWING CANDIDATES ARE AVAILABLE 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
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 the 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 for independent 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.
Paul Johnson
President- TAGE
Ofc (281) 600-8145
Mbl (281) 814-3886
Visit our Website
http://www.austingrp.com
- Paul Johnson.vcf |
Wade, I have decided that everything currently in our system is incorrect.
Please set up a meeting with all the people shown above and we will discuss
how to correctly handle this in our system. We also have some other supply
behind the LDC that we might as well handle correctly.
Wade, while we are at it, do you want us to look at NYSEG, CPA, and East
Ohio??? Any others?
People I need in attendance
Mary Theresa or Jeanne
Steve Gillespie
Angie
Sylvia Campos (or someone from the contracts group)
This is what I'm thinking, everyone please think about this before we meet.
I think I will have Peoples set up as a pipeline and we will move all the
deals to this new pipeline.
Steve, get the Peoples password from Angie. I need you to go into escript
(Angie can help you with this) and run anything you can get out of this
system. These are actually CES passwords. It is my intention to use this
information to set up transport or pooling contracts in Sitara.
From: John M Singer @ ENRON 08/30/2000 06:46 AM
To: Victor Lamadrid/HOU/ECT@ECT
cc: Wade R Price/HOU/ECT@ECT, Chris Germany/HOU/ECT@ECT, Angie
Zeman/Corp/Enron@ENRON@ECT, Gloria G Barkowsky/HOU/ECT@ECT, Mary Theresa
Franklin/HOU/ECT@ECT, Melissa K Ratnala/HOU/ECT@ECT, Bryce
Baxter/HOU/ECT@ECT, Katherine L Kelly/HOU/ECT@ECT, Jeanne
Wukasch/Corp/Enron@ENRON@ECT
Subject: Re: Phillips Production Co - PNG City Gate Production
Phillips Production has/had two seperate PNG deals:
1. 500 MCFD; $2.82/MCF; 1/1/00 - 6/30/00
2. 300 MCFD; $2.95/MCF; 1/1/00 - 11/30/00
To my knowledge, PNG does not send out production information to either the
producer or the pool operator. This information should be available on
E-Script.
Phillips gets their production volumes (which they use to create our
invoice) from the company integrating the meter charts. I beleive that this
is the same information provide to PNG.
John
From: Victor Lamadrid @ ECT 08/29/2000 05:47 PM
To: Wade R Price/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Gloria G
Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K
Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, John M
Singer/Corp/Enron@ENRON, Katherine L Kelly/HOU/ECT@ECT, Jeanne
Wukasch/Corp/Enron@ENRON
Subject: Re: Phillips Production Co - PNG City Gate Production
Wade, Thanks for bringing this issue to our attention. But I need help
understanding this one. We have a process already to handle John's behind
the citygate deals
Since, the actual scheduling is done by CES in Virginia, we never nominate
this gas nor do we see actuals. We hear about them from John and Terry and
we are supposed to get confirms from the producer and CES. Whenever one of
these deals occurs, we have buys from the producer and sales to CES to
account for these transactions internally.
It's my understanding that whenever John cuts one of these behind the
citygate deals; that Terry puts it into Sitara for him. The offset also
entered by Terry is a sale to CES (Now the New Power Company effective Sept.
1) with commercial (usually Chris Germany) confirming the sale price. Angie
schedules it in Unify under CNG and we create, track and balance like usual.
Is that not the case here? Is this something that's getting reconciled in
Jeanne and Terry's project for CNG???
By cc: Angie, please get with Terry /Jeanne and Chris to help Wade. THANKS!
Please keep me abreast of the status.
Wade R Price
08/29/2000 02:53 PM
To: Victor Lamadrid/HOU/ECT@ECT
cc: Chris Germany/HOU/ECT@ECT, Angie Zeman/Corp/Enron@ENRON, Gloria G
Barkowsky/HOU/ECT@ECT, Mary Theresa Franklin/HOU/ECT@ECT, Melissa K
Ratnala/HOU/ECT@ECT, Bryce Baxter/HOU/ECT@ECT, John M Singer/Corp/Enron@ENRON
Subject: Phillips Production Co - PNG City Gate Production
ENA is being invoiced by Phillips Production Company for production on
Dominion Transmission (CNG) via Peoples Natural Gas. This is
behind-city-gate gas that we do not get documents supporting the volumes. I
have invoices and production statements from Phillips.
Per John Singer Notes Mail of 08/23 concerning the July production," Phillips
Production / Peoples: Price: @ $2.95/Mcf Term: 1/1/2000 - 11/30/2000 Est.
Volume: 500/MCFD (Actual Volume will vary.) I have no way of verifying
the actual volume. Chris Germany and Angie Zeman will try to get into CES's
PNG pool via E-Script. This may be the only way to verify actual volumes. I
have a call into Phillips to see if they might have a pipeline statement
verifying volumes." Joihn's call to Phillips read partially, " I just
talked to Sam Fragale @ Phillips. The 7,843 Mcf @ $2.95 is ENA's. "
Our deals have been using point 20200 on Dominion Transmission (CNG). Deals
for Jan 00 - Mar 00 were 210359 and 210364. These were copied to 226543 and
229733 respectively for April 00 forward Deal 226543 has April 00 only, but
should probably be extended through June-00 according to deal notes from John.
Here is our current status on this gas
Prod Invoice Invoice Current
Month Volume Price Unify Vol Sitara Deal
May-00 4801 @$2.82 163 226543 (has April-00 only, should extend through
June?))
9748 @$2.95 353 229733
June-00 5341 @$2.82 0 226543 (has April-00 only, should extend through
June?))
9394 @$2.95 0 229733
July-00 7843 @$2.95 9552 229733
We need to get our proccess together for handling this each month through the
end of the deal terms.
Please direct the appropriate parties to help make these invoiced volumes
available on the deal and in Unify so I can pay Phillips.
Thanks WRP |
Tip Pohl
UBS Paine Webber
412-288-5202
> -----Original Message-----
> From: Brophy, Michael =20
> Sent: Tuesday, March 12, 2002 12:47 PM
> To: Gearty, Michael C.; Sunshine, Jeremy D.
> Subject: You Own MSFT, Consider Other Software Opportunities
>=20
>=20
> Our firms Global Investment Strategy Team currently recommends a Over
> Weight position in Technology. Within this sector we are bullish on =
the
> software stocks. You currently own MSFT (Strong Buy, $105.00 =
Target),
> consider other software opportunities. =20
>=20
> Software Stocks may be well positioned for an economic recovery
> * The Stimulus Package signed by President Bush, as it pertains to
> software purchases, will be incrementally positive for the group as =
it
> provides for accelerated expensing for tax purposes. The bill may =
jump
> start some software purchases over the next 6 quarters to assure
> implementations are completed before the window closes on 1/1/05. =
With an
> economic recovery appearing underway, evidenced by higher =
productivity
> gains, increased GDP and manufacturing data, lower unemployment and =
an
> increase in payrolls, companies may begin to deploy IT budgets.
> * As a firm, we are overweight the technology sector and we are
> overweight the software sector. Our favorite software stocks include
> Siebel (SEBL, SB, $50 target), BEA Systems (BEAS, SB, $21 target) and =
SAP
> (SAP, SB, $43 target).
>=20
> Siebel is our best large cap software idea for 2002 and we view it as =
a
> core holding. It's well positioned to expand its leadership position =
in
> the CRM software sector (customer relationship management), which is =
the
> fastest growing area of software.
> * The CRM market can grow 20-25% over the next few years, driven by
> new opportunities in retail financial services, health insurance, =
travel,
> manufacturing and government.
> * Siebel has the strongest management team in the sector and from a
> general execution standpoint, the company is the leader of the pack,
> focused on product development and sales force execution. It also has =
a
> strong balance sheet with $1.6 billion in cash.=20
> * Price target is $50 based on 2004 estimates of $1.06, a 1.5 PE to
> growth (PEG) ratio, discounted at 20%.=20
> * Technically, Siebel support is 25, 21 =BC, 16 =BD and resistance is =
37,
> 50 and 56.
>=20
> BEA Systems is another core holding in the software sector and is a
> leading application infrastructure software company. We believe it's =
a
> stock to own for the next 5 years and is a name that will play out =
over
> the next few years, not just the next few quarters.
> * BEA is the fastest software company to reach $1 billion in annual
> revenue, it has been named #1 in execution year after year by Gartner
> Group, it has 12,500 customers and 2100 partners.
> * BEA's Weblogic Enterprise platform simplifies the flow of
> information, decreases the cost of managing applications and makes an
> enterprise more agile and productive. We remain impressed with BEA's
> technical direction and believe they will be the one to beat in the
> application server market. Our $21 target is based on 1.4x our CY03
> estimate of $.52, discounted at 30%. =20
> * Technically, support is 11 =BD, 9 and 7 with resistance levels of =
15
> =BC, 18 and 22.
>=20
> A software company that drives global productivity growth is SAP =
(SAP,
> SBuy, $43 Target) and it's UBSW's Top European Software Pick in an
> Overweight Sector.
> * In a tough business environment, CEOs around the world are looking
> for ways to make their business more efficient and profitable. There =
are
> 17,500 companies globally and 60% of the fortune 500 looking to SAP, =
which
> provides them with an integrated solution of ERP(enterprise resource
> planning), CRM, and SCM (supply chain management) software to help =
them
> drive their business productivity.=20
> * A $14bn Upgrade Cycle is expected to drive earnings as 75% of SAP's
> customer base is still on their old R/3 Software platform. We expect =
a
> strong upgrade cycle in SAP's customer base to their new mySAP.com
> software platform to coincide with economic recovery. UBSW forecasts =
70%
> EPS growth in 2003 driven by the upgrade cycle.=20
> * Only the Strong Survive. In 2001, SAP increased its customer base =
by
> 30%, to 17,500 customers globally taking advantage of weak =
competitors.
> * SAP has easy comps as 2002 numbers look very achievable; we expect
> market to look through to 2003 where UBSW estimates 70 - 75% EPS =
growth,
> driven by SAP's customers upgrading to their new software platform.
> * SAP trades at a discount to its closest competitor, Siebel, trading
> at 70x 2002 P/E; SAP is at 43x 2002 P/E and 33x 2003. The target =
price
> assumes 40x 2003 EPS.
> * Technically speaking, SAP looks good and has been forming a cup and
> handle bottom formation for the past 3 quarters giving support at the
> $31-32 level. Buy before the $37-38 break out level. On a =
break-out
> above this levels look for an initial move to low $40's and a =
secondary
> move to the mid $40's=20
> * Options Strategy: Buy call June 35 @ $4.50
>=20
>=20
>=20
>=20
******************************************************
Notice Regarding Entry of Orders and Instructions:
Please do not transmit orders and/or instructions
regarding your UBSPaineWebber account(s) by e-mail.
Orders and/or instructions transmitted by e-mail will
not be accepted by UBSPaineWebber and UBSPaineWebber
will not be responsible for carrying out such orders
and/or instructions.
Notice Regarding Confirmation:
Please be advised that this e-mail is not an official
transaction confirmation. The only official confirmation
of a transaction will be sent to you via regular mail.
Notice Regarding Privacy and Confidentiality:
UBSPaineWebber reserves the right to monitor and
review the content of all e-mail communications sent
and/or received by its employees. |
FYI
----- Forwarded by Mark Taylor/HOU/ECT on 05/08/2001 10:39 AM -----
[email protected]
05/07/2001 04:02 PM
To: [email protected]
cc:
Subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades)
Notice # 01-154
May 7, 2001
TO:
All NYMEX Division Members and Member Firms
FROM:
Neal L. Wolkoff, Executive Vice President
RE:
Implementation of New NYMEX Rule 9.11A (&Give-Up Trades8)
DATE:
May 7, 2001
===========================================================
Please be advised that beginning on the trade date of Friday, June 1, 2001,
new NYMEX Rule 9.11A (&Give-Up Trades8) will go into effect.
! In the absence of an applicable give-up agreement, new Rule 9.11A will
define the respective responsibilities/obligations to an order of executing
brokers, customers and Clearing Members.
! The term &executing broker8 as used in Rule 9.11A refers to the registered
billing entity, Member Firm or Floor Broker to whom the order is transmitted.
! Rule 9.11 will provide that, in the absence of an applicable give-up
agreement, a Clearing Member may reject a trade only if: (1) the trade
exceeds trading limits established by the Clearing Member for that customer
that have been communicated to the executing broker as provided by the rule
or (2) the trade is an error for which the executing broker is responsible.
! The new rule also places affirmative obligations on executing brokers to
confirm Clearing Member authorization for an account. For example, prior to
an executing broker accepting and executing an initial order for any new
customer account, such executing broker must confirm with the Clearing Member
by telephonic, electronic or written means, that:
(a) the customer has a valid account with the Clearing Member;
(b) the account number;
(c) the brokerage rate;
(d) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(e) a listing or summary of persons authorized to place orders for that
account.
Moreover, the executing broker must retain a copy of the authorization or the
specifics of the telephonic confirmation, which includes: opposite party,
date, time, and any other relevant information. The Compliance Department
will conduct periodic audits of such records, and falsification of such
information shall be the basis for disciplinary action.
If you have any questions concerning this new rule, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Thomas LaSala, Vice President, NYMEX Compliance Department, at
(212) 299-2897; or Arthur McCoy, Vice President, Financial Surveillance
Section, NYMEX Compliance Department, at (212) 299-2928,
NEW RULE 9.11A (&Give-Up Trades8)
(Entire rule is new.)
Rule 9.11A Give-Up Trades
In the absence of a give-up agreement whose terms and conditions govern the
responsibilities/obligations of executing brokers, customers and Clearing
Members, the following rules shall define the respective
responsibilities/obligations of those parties to an order. The &executing
broker8, as used in this rule, is the registered billing entity, Member Firm
or Floor Broker to whom the order is transmitted.
(A) Responsibilities/Obligations of Clearing Members
(1). Limits Placed by Clearing Member. A Clearing Member may, in its
discretion, place trading limits on the trades it will accept for give-up for
a customer,s account from an executing broker, provided however, that the
executing broker receives prior written or electronic notice from the
Clearing Member of the trading limits on that account. Notice must be
received by the executing broker in a timely manner. A copy of such notice
shall be retained by the Clearing Member.
(2). Trade Rejection. A Clearing Member may reject (&DK8) a trade only if:
(1) the trade exceeds the trading limits established under Section I(A) of
this rule for that customer and it has been communicated to the executing
broker as described in Subsection (A); or (2) the trade is an error for which
the executing broker is responsible. If a Clearing Member has a basis for
rejecting a trade, and chooses to do so in accordance with the provisions of
Rule 2.21(B), it must notify the executing broker promptly.
(3). Billing. A Clearing Member will pay all floor brokerage fees incurred
for all transactions executed by the executing broker for the customer and
subsequently accepted by the Clearing Member by means of the ATOM system.
Floor brokerage fees will be agreed upon in advance among the Clearing
Member, customer and the executing broker.
(B) Responsibilities/Obligations of Executing Brokers
(1) Customer Order Placement. An executing broker will be responsible for
determining that all orders are placed or authorized by the customer. Once
an order has been accepted, a broker or the broker,s clerk must:
(a) confirm the terms of the order with the customer;
(b) accurately execute the order according to its terms;
(c) confirm the execution of the order to the customer as soon as
practicable; and
(d) transmit such executed order to the Clearing Member as soon as
practicable in accordance with Exchange Rules and procedures.
2. Use of Other Persons. Unless otherwise agreed in writing, the executing
broker is allowed to use the services of another broker in connection with
the broker,s obligations under these rules. The executing broker remains
responsible to the customer and Clearing Member under these rules.
3. Executing Broker Responsibility for Verifying Clearing Member
Authorization. Prior to a broker accepting and executing an initial order
for any new customer account, the executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(f) the customer has a valid account with the Clearing Member;
(g) the account number;
(h) the brokerage rate;
(i) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(j) a listing or summary of persons authorized to place orders for that
account.
The executing broker must retain a copy of the authorization or the specifics
of the telephonic confirmation, which includes: opposite party, date, time,
and any other relevant information. The falsification of such information
shall be the basis for disciplinary action.
4. Rejection of Customer Order. Where an executing broker has confirmed
Clearing Member authorization to execute orders on behalf of a customer in
accordance with this Rule 9.11A, the broker may, in the broker,s discretion,
reject an order that the customer transmits to the broker for execution. The
broker shall promptly notify the customer and the Clearing Member(s) of any
such rejection.
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TRADE ALERT #13
CEPHEID / (Nasdaq - CPHD)
May 31, 2001
09:45AMET - emailed to TFR Trade Alert Subscribers
NOTE - DELAYED DELIVERY: This information was previously distributed
to Fagan Report Trade Alert Subscribers at the above noted time and
date. Due to ever-changing market considerations - it may or may not
be applicable at this time.
TRADE ALERT #13 - Speculative Buy / Cepheid / (Nasdaq - CPHD),
currently trading at $3.50 with a target above $6.00 and a stop-loss
at $2.89.
Cepheid (CPHD), based in Sunnyvale, CA, is developing and
commercializing versatile, miniaturized instruments that perform all
the steps required to rapidly analyze genetic material found in
complex biological samples -- sample preparation, amplification, and
detection. Integrating proprietary microfluidic and microelectronic
technologies. It is commercializing products initially for DNA and
RNA analysis in clinical diagnostics, life-science research,
agriculture, industrial testing, and pharmacogenetics.
Not many stock speculators can decipher the above paragraph, but if
you go to www.cepheid.com it all begins to make sense. Cepheid is
making it possible to do complicated, critical compound analysis on
site in vastly reduced time frames. The range of applications is
almost unlimited. It can help detect the spread of cancerous cells
during a surgical procedure. In agriculture, it is being tested to
identify the spread of Pierce Disease in the California grapevine
industry. I looked up Pierce Disease and found the following:
Pierce's disease infects grapevines, effectively choking the tissues
that deliver water and nutrients throughout the plant. Infected ines
usually die within a few years. The disease has been present in
California at relatively low levels for decades, but is cause for
heightened concern because the glassy-winged sharpshooter (insect),
newly arrived from the southeastern U.S. and northern Mexico, can
spread it much more rapidly than native insects. - SACRAMENTO,
Calif., May 16, 2001 /PRNewswire via COMTEX/ -- Cepheid (Nasdaq:
CPHD) today announced that its Smart Cycler(R) TD System is being
exhibited for early detection of Pierce's disease in grape vines at
today's 13th annual California Association of Professional Scientists
(CAPS) State Scientists Day held at the Capitol. Using the portable,
real-time gene-detection system, for the first time scientists can
detect the lethal disease before symptoms appear, allowing vintners
to remove infected vines earlier in the growing season before the
disease is spread by insect carriers.
Situations like this have the potential to catch the imagination of
the market.
CPHD went public in June 2000 through an IPO (led by VSB Warburg) of
five million shares at $6.00. A further 20.5 million pre-IPO issued
shares became free trading in December 2000. Presently, there are
25.5 million shares issued. As of March 31, 2001, cash on hand stood
at $37 million - current liabilities $5 million. Based on published
information, I estimate FY01 revenue of between $15 and $20 million,
with a net cash burn of $12-$18 million. FY02 is where sales and
profits should start to improve. CPHD's 52-week high/low stock price
is $27.50 / $2.97. What I like about CPHD is its cutting-edge
technology in what is likely to be an in-vogue market sector.
NOTE / DISCLAIMER All information published by The Fagan Report is
for informational purposes only. As Editor, I, Brian Fagan, tell you
what I am or would be doing if I had sufficient capital to do so. You
read and/or subscribe to receive this information for whatever
personal reasons you may have to do so. Nothing more is implied or
intended. Nothing in this communication is, nor should it be
construed to be an offer or solicitation for the purchase or sale of
securities. Please see our complete disclaimer statement at:
http://www.faganreport.com
COPYRIGHT: Fagan Report Trade Alerts are copyright material. It is
unlawful to duplicate, forward, or disseminate this information in
any form whatsoever, without the written permission of the publisher.
For copyright waiver, email your request to: [email protected] .
Wishing you all the best,
The Fagan Report,
Brian Fagan
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May 31, 2001
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"NAI at a Glance" reports on recent and future NAI events. In an effort to strengthen and broaden NAI's network, "NAI at a Glance" also disseminates timely and important articles by leading members and friends of the network. For further information on the New Atlantic Initiative, please see our web page at www.aei.org/nai/nai.htm.
Jeffrey Gedmin
Resident Scholar, American Enterprise Institute
Executive Director, New Atlantic Initiative
______________________
RECENT NAI EVENTS
ROUNDTABLE WITH HENRY KISSINGER, PARIS, MAY 28, 2001. At a roundtable meeting hosted by NAI, HENRY KISSINGER discussed the future of ballistic missile defense, the ABM Treaty, and NATO enlargement. He encouraged a transatlantic approach toward Russia. Other meeting participants included MARC PERRIN DE BRICHAMBAUT of the French Ministry of Defense; ROBERT COOPER of the UK's Cabinet office; AEI's RICHARD PERLE; and MICHEL FOUCHER of the French Ministry of Foreign Affairs.
LUNCH DISCUSSION WITH EMYR JONES PARRY, AEI, MAY 17, 2001. According to Parry, the political director of the UK's Foreign and Commonwealth Office, Britain wants to see Europe succeed in a way that doesn't diminish Europe's transatlantic link. Contrary to press reports, he explained that not even the French advocate something separate from NATO. Thus, talk of a slow cooling in the Atlantic alliance may be greatly exaggerated, according to Parry, who also fielded questions about North Korea, saying that U.S. and E.U. positions are really "not so different."
LUNCH WITH RUSSIAN BUSINESS LEADERS, AEI, MAY 2, 2001. RICHARD PERLE hosted Club 2015, a group of Russian business leaders and politicians, who together discussed the danger of a Russian military that is holding onto the past, the problems of widespread corruption, the consequences for internal policy formation, and the direction of U.S.-Russia relations. Agreement centered around the fact that there are few immediate threats to Russia that necessitate a military response. The Russians see difficulty in coming to agreement on issues of NATO expansion and missile defense and insist on a less unilateral, more dialogue-oriented U.S. approach. What the Russians need to do in relations with the U.S., Perle suggested, is drop their old agenda.
_________________________
UPCOMING NAI EVENTS*
SECURITY AND COOPERATION IN EUROPE IN THE 21st CENTURY, ISTANBUL, JUNE 28-29. NAI will sponsor a delegation to participate in the ARI Movement's conference in Istanbul. THIS EVENT IS BY INVITATION ONLY.
NATO ENLARGEMENT AND SECURITY IN NORTHERN EUROPE, COPENHAGEN, SUMMER 2001 (DATE TBD). A group of NAI invitees will discuss strategies for the next round of NATO enlargement. THIS EVENT IS BY INVITATION ONLY.
NAI CONGRESS OF BUDAPEST, SEPTEMBER 28-29. The New Atlantic Initiative will convene a congress hosted by Hungarian Prime Minister Viktor Orb?n in Budapest. Sessions will deal with ballistic missile defense, NATO enlargement, Southeastern European security, Russia, and US-EU relations. THIS EVENT IS BY INVITATION ONLY.
ASIA DELEGATION VISIT, FALL 2001 (DATE TBD). Trade and missile defense will be two of the issues an NAI-led delegation will discuss in meetings in Taiwan, Japan, and China. THIS EVENT IS BY INVITATION ONLY.
*The information presented here is subject to change without notice.
__________________________
RECOMMENDED READING
Please click here to view these articles online: http://www.aei.org/nai/recread.htm
BLAIR SHOULD KEEP A CLOSER EYE ON AMERICA by Irwin Stelzer, The Sunday Times, May 6, 2001. Stelzer argues that "Events have soured the Anglo-American relationship to the point where it is on the verge of losing its 'special' character." After Blair's expected victory this month, it will inevitably be time for him make firm policy decisions that will undoubtedly impact the UK's relationship with the US. Between cuts in EU defense spending, plans for the ERRF, and U.S. missile defense talks, the special relationship faces many challenges.
OUT TO TORPEDO MISSILE DEFENSE by Robert Kagan, Washington Post, May 9, 2001. Kagan points out the bitter partisanship of the Democrats' flip-flop on missile defense. Last year, Democrats were lining up to support Clinton's efforts to deploy NMD; this year, they make every effort to oppose Bush in his talks on the issue, culminating in former U.N. ambassador Richard Holbrooke's call for Europe to be more vocal in opposing the President's plans.
US TO UK: DON'T LET BRUSSELS RUIN IT by Toby Harnden, The Spectator, May 12, 2001. Reporting on NAI's recent panel discussion on European defense, Harnden discusses the transatlantic controversy surrounding ESDP. The NAI discussion proved that while many Europeans are convinced of ESDP's necessity, American officials remain extremely skeptical of their intentions. Participating on the panel were CHARLES GRANT of the Centre for European Reform (London), CHRISTOPH BERTRAM of the Institut fuer Wissenschaft und Politik (Berlin), GILLES ANDREANI of the French Foreign Ministry, AEI's RICHARD PERLE, and former CIA director R. JAMES WOOLSEY. UPI's MARTIN WALKER served as the panel chairman.
EUROPE, MEET MR. RUMSFELD by Jeffrey Gedmin, Wall Street Journal Europe, May 23, 2001. The Bush administration has been off to a rocky start with its European allies. Secretary of Defense Donald Rumsfeld "appears to hold special honors," writes Gedmin, "when it comes to fueling European anxieties." Gedmin reviews U.S.-European disagreements on missile defense and ESDP, arguing that Rumsfeld, rather than being an ideologue as detractors contend, is taking a strictly pragmatic view of most transatlantic issues.
WASHINGTON FINDS A SOFT SPOT FOR ITS OLD ENEMY by Gerard Baker, Financial Times, May 31, 2001. Baker argues that the US and Russia can redefine their relationship in terms of two democracies cooperating toward common goals without the use of the ABM treaty. According to Baker, perhaps "the refusal of some Europeans to consider the possibility of a fundamentally changed relationship with Russia*owes more to an enduring eagerness to frustrate US ambitions than to work for lasting transatlantic cooperation."
DRIVING A TRANS-ATLANTIC WEDGE by Jeffrey Gedmin, Wall Street Journal Europe, June 5, 2001. As U.S. President George Bush prepares to embark on his first trip to Europe, Gedmin reviews the apparent obsession of some EU elites with the issue of the death penalty in the United States. Gedmin argues that opinion about capital punishment is more complex on both sides of the Atlantic than some would like to admit. According to Gedmin, some in Europe are using the death penalty to express Euronationalist, anti-American sentiment.
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CC list suppressed...
WSJ:Cal impact on US economy...
Note: The other article in the Journal hi-lights the
Governor's bail-out of the Utilities with new bonds,
however the following article spells out wider ranging
problems seen in the stock market last week. Finally
MSNBC had a January 5, 2001 morning story that before the
end of Jan. 2001 FERC will force the sale of all
transmission assets in California to a third party. This
industry continues to get more interesting...
January 8, 2001
The Outlook
LOS ANGELES
Helmut Ackermann founded L.A. Dye & Print Works Inc. 18
years ago, when he took over a bankrupt dye house. Today,
thanks to California's worsening energy crisis, L.A. Dye &
Print is back on the brink of closure.
Mr. Ackermann depends on natural gas to operate the
massive boilers and heaters used to color and dry fabrics.
He expects his December gas bill to have jumped to
$600,000 from $132,000 last January. Hammered by the
soaring costs, he has already closed one plant and
dismissed 40 people. Now, he says the jobs of his
remaining 660 workers are in jeopardy. "If it stays the
way it is, we won't be around very long," Mr. Ackermann
says.
Stories like this are causing economists to worry that
California's economic troubles -- the energy crisis,
combined with a high-tech shakeout and growing labor
unrest in the entertainment industry -- could put more
drag on a U.S. economy that is already downshifting.
Chart: California and the World Economy
The World's largest economies by gross national product,
in trillions of US dollars:
US $8.4
Japan $4.1
Germany $2.1
France $1.4
UK $1.3
California $1.2
Italy $1.1
China $1.0
Source: World Bank
The energy mess is "one more negative added to the mix,"
says Tom Lieser, a senior economist at the University of
California at Los Angeles's Anderson Business Forecast. He
expects California to navigate its way through the
immediate crisis but worries about its longer-term impact.
Questions about the reliability and cost of the state's
power supply, for example, could threaten continued growth
of vital industries such as technology.
Some Wall Street economists worry that California's
problems could spill over and hurt the broader U.S.
economy. In a report titled "California Unplugged -- A
Drag on Global Growth?" Morgan Stanley Dean Witter warns
that California's energy crisis threatens to push up
production costs and make U.S. exports from the state,
which totaled $102.9 billion in 1999, less competitive on
world markets.
"Negatives tend to snowball, so what is happening in
California has the potential to exacerbate the weakness we
already are seeing in the U.S. economy," says Joseph
Quinlan, a Morgan Stanley economist.
Other states facing economic and financial trouble
wouldn't warrant such attention. But California not only
is the nation's largest state in terms of both population
and economic heft, but the Golden State also seemed to
epitomize the New Economy. Job growth in the state has
been double that in the nation as a whole; of the 2.1
million jobs created in the U.S. during the first 11
months of last year, one of every five new hires was in
California. The state produced more than $1.2 trillion in
output in 1999, making it the sixth-largest economy in the
world, slightly smaller than the economy of the United
Kingdom and a little bigger than that of Italy. The
state's economic output contributed about 12% of total
U.S. gross domestic product. New York, in second place,
had an 8.1% share of GDP.
But soaring energy costs are beginning to take a toll on
the Golden State, and low-end manufacturers are among the
first to see the change. "It is forcing many of us to face
a shutdown," says Scott Edwards, president of the
Association of Textile Dyers, Printers and Finishers of
Southern California. His industry runs on gross profit
margins of 10% to 15%, hardly enough to handle the
fivefold increase in natural-gas costs that many operators
have witnessed.
Soaring energy prices also are hurting California's
agricultural industry. "We can't pass along the costs of
production" as some other industries do, says Heather
Flower, a spokeswoman for the Western Growers Association,
a group of 3,500 growers in California and Arizona. Some
are cutting back on plantings of broccoli, lettuce and
strawberries, among other crops, because of uncertainty
about costs.
Electricity prices already are on the march. The state's
largest utilities, Pacific Gas & Electric Co. and Southern
California Edison Co., received temporary rate increases
last week ranging from 9% for residential customers to 15%
for large companies. Some economists say the rises, if
they become permanent, could wipe out a large chunk of
per-capita-income gains and result in less consumer
spending.
On top of the energy problems, Hollywood is bracing for a
strike by the Writers Guild of America and the unions
representing film and television actors, whose contracts
are set to expire this year. The studios spent the end of
2000 jamming in production to cushion the impact of a
potential strike. The sector employs nearly 300,000 people
in the state.
While there seems little doubt that the troubles brewing
in California will prove painful, there are reasons to
believe the state can still avert an outright economic
contraction. Its economy is more diversified and resilient
than a decade ago, when national-defense cutbacks and an
overbuilt property market crippled the local economy. Back
then, jobs in the aerospace sector shrank by 70%, and
office-vacancy rates in major markets soared.
Also, despite all the attention being given to the state's
energy crisis, the fact is "we're not a very
energy-intensive economy," says Ted Gibson, chief state
economist with California's department of finance. He
notes that the state ranks 48th among the 50 states in
per-capita energy consumption. And he adds that the $11
billion in deficit spending racked up by the two big
utilities amounts to less than 1% of state output. "It's
not the kind of cost that will bring the state to its
knees," he says.
-- Jon Hilsenrath and Rhonda L. Rundle
Write to Jon Hilsenrath at [email protected] and
Rhonda L. Rundle at [email protected] |
To: The Enron Management Committee
The Enron Corp. Board of Directors approved a new Risk Management Policy (the "Policy") on August 14, 2001, and notice has been distributed to Enron employees to announce the posting of this policy on the Enron intranet website at http://home.enron.com/resources (without market risk limits due to confidentiality). The Policy includes a three page Executive Summary providing an overview of risk management practices for the four major types of risks addressed: (a) market risk; (b) credit risk; (c) operational risk and (d) liquidity/funding risk, and this summary is attached to this e-mail for your convenience. The credit policy was incorporated without change, and the Transaction Approval Process and Guarantee Approval Processes were also incorporated with updating for specific approval authorities.
This e-mail message is being sent to the Enron Management Committee to highlight some key aspects of the Company's market risk management practices which may be of interest.
The Policy established a new Risk Management Committee, members of which are the Chief Risk Officer and any others designated by the CEO of Enron Corp. During this transition period, existing Commodity Group Limits as of August 14th remain in effect, and Enron Business Unit Limits are assigned accordingly. These limits may be further adjusted by the Risk Management Committee and the CEO, and your market risk managers will be working with you to review the limit structure for your business unit's activities to facilitate compliance with the Policy and your business initiatives. RAC is currently working with Global Risk Management Operations to develop appropriate risk reporting that meets the Policy requirements and the needs of business unit management.
Regards,
Cassandra Schultz
Vice President, RAC
713-853-0429
[email protected]
Summary of Changes to Market Risk Management Practices
In addition to consolidating Enron's various risk management policies and procedures into one comprehensive Policy, some substantive changes and clarifications were made to the Company's market risk management practices, as summarized below.
1. Increased the VaR Limit for the Trading Portfolio, providing discretion to the Enron Corp. CEO ("CEO") to allocate such VaR limits within defined parameters
2. Established an Expected Tail Loss Advisory Limit for the Trading Portfolio
3. Revised the Market Risk Limit Structure within each Portfolio to delegate more discretion for individual Business Unit and Commodity Group limits to the CEO and Risk Management Committee
a) Concentration VaR Limits approved by Board of Directors
b) Business Unit VaR Limits approved by CEO / Risk Management Committee
c) Commodity Group Limits for each Business Unit approved by CEO / Risk Management Committee
d) Trader/Desk Limits approved by Business Unit Office of the Chairman
Key Points re: the Limit Structure
1. Concentration Limits are established on 6 large buckets of commodity groups; this bucketing focuses on market indicators from a Board perspective, not according to Enron's organizational structure;
? 1) Americas Gas, 2) Americas Power, 3) European Gas & Power,
4) Products, 5) Financials, and 6) Emerging Businesses
o Examples: Americas Power Concentration Limit includes Global Risk Markets; Financials Concentration Limit includes Credit; Appendix A of the Policy lists the individual Commodity Groups comprising each Concentration Limit
2. CEO/Risk Management Committee has discretion to allocate the Trading Portfolio VaR limit among the Enron Business Units, subject to the Concentration Limits approved by the Board
3. Expected Tail Loss is a new risk metric, and accordingly, an advisory limit is established only at the total Trading Portfolio level; some Commodity Groups may have the measurement calculated in RisktRAC, but no limit is set
4. Business Unit VaR Limits are to be set for each Enron Business Unit (i.e. Enron Americas, Enron Global Markets, Enron Europe, etc. - any Business Units recognized as having authority for trading by the CEO)
5. Commodity Group Limits are now to be set at a Business Unit level, representing the individual Business Unit's authority for trading specific commodities
? every Business Unit shall have a Commodity Group Limit for any commodities for which they are authorized to trade;
? these Commodity Group Limits and corresponding risk reporting will enable top management and the Risk Management Committee to quickly understand risk parameters on a "pure" commodity group basis within each Enron Business Unit;
6. Each Enron Business Unit OOC can establish Trader/Desk Level Limits and/or related risk reporting as they require, enabling them to view their trading results the way they manage their business (i.e., the same trader may actually trade more than one commodity, and therefore wish to view risk parameters for several commodities combined, etc.)
Risk Management Benefits of Limit Structure: 1) CEO flexibility below the Concentration Limit level, and 2) individual Enron Business Units have clearly defined trading authority, enabling the Risk Management Committee to authorize business units to trade in the same commodities while strengthening risk management practices to facilitate compliance with the Board approved Concentration Limits
Limit Monitoring and Reporting
1. All position and VaR violations are triggered at 100% of the respective limit
2. All Daily Loss notifications are triggered at 100% of the VaR limit
3. All Cumulative 5-day Loss notifications are triggered at 225% of the VaR limit
4. Trading Portfolio limit monitoring reported to the Board
5. Concentration limit monitoring reported up to the CEO, and at Board meetings
6. Business Unit and Commodity Group limit monitoring reported up to the Risk Management Committee
7. Trader/Desk Level Limits and related reporting to be established by each business unit
Overall Portfolio Structure
? Expanded the Trading Portfolio includes all of Enron's mark-to-market trading activity, including speculative trading of PGE and ETS
? Merchant Portfolio does not have established limits
? Clarified that the Capital Portfolio is to capture and manage all positions related to Enron's capital structure; the VaR limit established is a Concentration Limit for Enron stock related transactions; as other positions are captured and measured, additional limits may be established as needed
Added a new "Regulated" Portfolio for certain transportation and distribution activities (a VaR limit was established by the Board for PGE's regulated activities)
? Added a new "Other Assets & Contracts" Portfolio to capture and manage accrual or other type of positions not otherwise captured in the other Portfolios; no limits established |
----- Forwarded by David M Gagliardi/TTG/HouInd on 08/28/01 09:24 AM -----
"Gagliardi,
Michael" To: "'[email protected]'" <[email protected]>,
<mgagliardi@u "'[email protected]'" <[email protected]>,
nocal.com> "'[email protected]'" <[email protected]>
cc:
08/28/01 Subject: FW: True Orange E-Mail/Fax #87
08:54 AM
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Monday, August 27, 2001 8:17 PM
> To: [email protected]
> Subject: True Orange E-Mail/Fax #87
>
> True Orange E-Mail/Fax Service
> Volume 9, E-Mail/Fax #87, Monday, August 27, 2001
> Jerry Scarbrough's True Orange, P. O. Box 26530, Austin, Texas 78755 -
> Phone
> 512-795-8536
>
> Brown Names Starters with Few Surprises
>
> Texas head coach Mike Brown named the starters Monday for Saturday
night's
>
> season-opening football game with New Mexico State, and there was only
one
>
> major surprise.
> That was at tight end where Bo Scaife and Brock Edwards were listed as
> co-starters. "I don't know who will run out there first," Brown said,
"but
>
> they'll both see plenty of action."
> He also said Tillman Holloway and Derrick Dockery are co-starters at left
> guard, but that was no surprise because they have battled back and forth
> throughout the pre-season practices.
> Junior Victor Ike, as expected, is the starting tailback, with super
> freshman
> Cedric Benson and big sophomore Ivan Williams listed as co-second
teamers.
>
> Brown also said all three tailbacks will play a lot.
> Senior Maurice Gordon, as expected, was tabbed to start at left defensive
> tackle. "We had to figure a way to get him on the field," Brown said.
> "That's
> why we moved him (from defensive end). He probably runs 4.6 or better and
> we
> think he's really going to be good for us."
> Brown also said Nathan Vasher and Ahmad Brooks will be the starting
> safeties
> with Dakarai Pearson backing up at both spots.
> The Longhorns are 42-point favorites over NM State for their 6 p.m. game,
> but
> Brown said the contest "is a great challenge for us. They should have
> beaten
> Louisville last week and Louisville was a 9-or-10-win team last year."
> Louisville went 9-3 last year and NM State had a lead at the half before
> two
> fumbles deep in Louisville territory were returned for touchdowns.
> Brown had a good time discussing the Longhorns at his Monday press
> conference. Talking about all the hype surrounding junior QB Chris Simms,
> he
> said, "Some think Chris Simms will win the Heisman and some think he
> shouldn't start."
> When someone mentioned that post-game comments in Oklahoma after the
> Sooners'
> opening win over North Carolina seemed to center more on Texas than on
the
>
> Sooners, he said, "A lot of the opposing teams talk more about us than
> they
> talk about themselves, and there is no question some of them hate us more
> than they like themselves."
> * * * *
> FOOTBALL NOTES: The Longhorns have the best opening game record in the
Big
>
> 12. In 108 years of playing college football, Texas is 88-17-3 in opening
> games. That's an .829 winning percantage. If the Horns hadn't gone 1-7 in
> openers between 1986 and 1993, that great percentage would be almost off
> the
> charts. . . the Horns' No. 5 national ranking in the AP poll is their
> highest
> pre-season rating since 1983. . . QB Chris Simms completed 28 of 42
passes
>
> (66.7%) for 328 yards and four touchdowns in the Longhorns' three
> scrimmages.
> He did not allow an interception in the scrimmages. . . True freshman LB
> Derrick Johnson led all defenders in the scrimmages with 20 tackles. . .
> Starting LB Lee Jackson probably will miss the opener with a turf toe and
> will be replaced by Tyrone Jones. He is the only starter who will be out
> unless someone else gets banged up this week.
> * * * *
> RECRUITING NOTES: The Longhorns apparently have targeted three wide
> receivers
> for two remaining slots and will take the first pair to commit. The three
> are
> Marquis Johnson, a national top 100 player from Champaign, Illinois, and
> two
> Texans - Biren Ealy of Cypress Falls and Anthony Wright of Klein Forest.
> Johnson lists the Horns No. 1 and might commit when he visits. He says he
> wants to visit UT in September. Wright also lists Texas as his top team,
> while Ealy is more wide open. . . CB Ricky Wilson of Port Arthur Lincoln
> is
> getting a lot of national attention because he is an outstanding cover
> corner
> with great speed and leaping ability - and good grades. That last factor
> sets
> him apart from several of the other top corner prospects. He lists
Florida
>
> State and Texas as his top two teams. . . If you are a real recruiting
fan
>
> who keeps a list of future prospects, pencil in Clay Broyles, 6-4, 235,
of
>
> Hallsville as a junior DE/TE who will be a big item in next year's
> recruiting
> wars. His coach says he is a top prospect on either side of the ball.
> * * * *
> My next e-mail/fax will be whenever events warrant.
> * * * *
> The True Orange E-Mail/Fax Service includes at least 99 fax/e-mails a
> year and costs $99 ($79 by E-Mail). The True Orange Newsletter includes
> 26
> newsletters and is published weekly during football season and twice
> monthly
> during most of the other months. It costs $45. Save by subscribing to
both
>
> for $130 (or $110 if you take the faxes via E-Mail or $99 if you take
> both
> services via E-Mail). Send check to address at the top of page. I also
> update my 900 number - 1-900-288-8839 - daily with recruiting news. My
> E-Mail address is: [email protected]. |
Number 2
---------------------- Forwarded by David G Mally/HOU/ECT on 05/26/99 05:51
PM ---------------------------
Louise Kitchen
05/19/99 12:51 PM
To: Dave Mally/HOU/ECT, Kevin Sweeney/HOU/ECT
cc:
Subject: Re: OnLine Upate
---------------------- Forwarded by Louise Kitchen/LON/ECT on 05/19/99 10:24
AM ---------------------------
Louise Kitchen
05/13/99 11:24 PM
To: Louise Kitchen/LON/ECT@ECT
cc:
Subject: Re: OnLine Upate
Louise Kitchen
05/13/99 11:19 PM
To: John Sherriff/LON/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Philippe A
Bibi/HOU/ECT@ECT
cc:
Subject: OnLine Upate
Executive Summary
The work on the scoping of the project has been completed and a consultancy
firm should be chosen on Monday, the plan is to have 2 companies to negotiate
full terms with. A timetable should be available mid next week for the
system requirements. The terms of the contract to be concentrated on are
the delivery premiums and penalties.
The legal and regulatory side is fully underway on both sides of the
atlantic.
Work on the business process side of the site is under way, this includes the
integration of internet trading within the company and the management of the
side (including the administration, product management etc ) has commenced
and an intial group has been put together to work on this, with the aim of
creating a base plan which will be rolled out in Europe and used as a base to
set up activities in the US.
Initial schedule for next meeting - 2nd or 3rd June.
1. Systems & outsourcing
Several firms have been interviewed for the outsourcing of the project. The
shortlist includes several firms, at the time of writing those at the top
include Agency, I-cube and US Web. A summary of the outsourcing companies is
attached. Bearing in mind no further companies are introduced a decision
may be possible immediately upon the quotation from Agency.
The contract with the company will be negotiated immediately emphasizing
premiums for delivery and penalties for late delivery.
The powerpoint presentation used in the consultancy hiring process is
attached for information.
2. Systems Documentation
The initial specifications have been written to outline the scope of the
project with a view to hiring the appropriate company and ensuring the
internal processes are commenced.
3. Legal Review
Two legal firms have now been instructed with regard to the project.
Europe - Clifford Chance are acting as Project Manager for Europe.
Clifford Chance have been instructed on the following areas:
(i) Advice on overall website structure (text, context, content etc)
(ii) preparation of the initial customer documentation / registration
documentation
(iii) specific internet trading advice for all jurisdictions
(iv) co-ordinating advice of those firms utilised across all juridictions by
Enron on the physical and financial trading (to include Enron's financial
regulatory advisors Slaughter & May)
(v) co-ordinate with US legal counsel on cross jurisdictional issues (such
as use of US companies as Enron counterparty in the European markets).
Initial meetings held with Enron commercial, legal and support teams.
US - Sullivan & Cromwell have been instructed to advise for the US market
primarily because of their CFTC experience. Initial briefing meeting on the
project was held on 7th May 1999 and a follow up meeting on their initial
findings of the structure is to be held on the 17th May 1999. Sullivan &
Cromwell have been instructed to review the proposed structure of the site
and outline all the legal and regulatory issues surrounding the transactional
nature of the site.
Sullivan & Cromwell shall be reviewing the initial enabling documentation as
produced by Clifford Chance.
4. Business Process
The first draft of the requirements for the business process requirements for
the project has been completed. This document will form the basis of the
programme to ensure integration of online trading within the organisation.
David Port will be leading this effort and Dave Malley is a possibility for
the US - any thoughts?
The key areas that require defining of Business Processes are:
1. Customer registration
2. Authorisation of new traders within Enron
3. Setting up new products and control over existing products
4. Transaction execution online
5. Online transaction validation - the main business processes include
credit and market or position limit check.
6. Interface between online system and Gas, Power and Global Liquids books,
i.e. automatic deal data transfer from Enron
7. Online Database into appropriate book after deal was validated online.
8. Transaction confirmation and processing by middle office/back
office/documentation departments. This should cover any deviations in the
business processes for trades done online versus OTC trades.
9. Process of disputes handling. This process will cover disputes on whether
the deal is done or not as well as disagreements over particular commercial
terms of a done deal.
10. Documentation and Contracts
11. Master Agreements and GTCs have to be put in place for all anticipated
types of transactions, commodities and countries.
12. All documents need to be translated into appropriate foreign languages.
13. Viewing by users of their own account status ) the system should allow to
reconcile data in the Enron Online database against information in the books.
14. Online news publishing (System news,Trading groups new, General energy
related news, Online trading help)
5. Project Staffing
Commercial
Paul Goddard - interface with IT team, Paul will be working closely with the
IT team on the structure and content of the page.
Elena Kapralova - Elena will be responsible for the start up of the Business
Process part of the project and will be the co-ordinator on the european side
for the actual form and content of the product lines.
Arfan Aziz - documentation co-ordination with responsbility for creating a
database of counterparties for the production of registration documents for
Europe.
Supporting the project - Europe
Business Process David Port
Tax Janine Juggins
Credit/Risk Control Bryan Seyfried
Legal Justin Boyd
Potential support from US includes Dave Mally
IT Team Jay Webb - Project Manager
Tiluk Mandadi
Bob Campbell (transferring to Houston from UK for 3 months)
Neil Donkin (subject to final confirmation)
Pat Gogerty and Chris Dodds for initial period of 3 weeks (from UK)
plus 2 other US employees.
6. Meetings next week
Louise (New York on Monday, Tuesday onwards in Houston)
Sullivan & Cromwell - Mark Taylor
Mark Palmer (introductory meeting)
Janine Juggins - Tax
Dave Mally - Support
Ted Murphy - Risk Control
Greg on staffing and Australia
Paul Goddard will be spending the week with the IT team in Houston to assist
particularly on the contracting process.
Business Process meetings to continue in London with mock up completed by IT
mid week.
Louise |
Guys, to end all arguments, I would suggest the following protocol which is
similar to what was discussed at Columbia Lakes:
a) P&P swaps and anything to do with the network strategy/assets in the
paper sector in Canada and Mexico - Industrial Origination;
b) Pure energy commodity positions and stand-alone energy assets (no
outsourcing) for all industrial segments in Canada and Mexico - ECC or Enron
Mexico;
c) Energy outsourcing for all industrial segments in Canada and Mexico - I
would like Enron Canada and Enron Mexico to develop a written target list in
which ECC, Enron Mexico and the Industrial Origination groups would work
together to develop, sell and execute on the most profitable and value adding
outsourcing product for the industrial customer in Canada and Mexico - ECC
and Enron Mexico's understanding of the energy markets in Canada and Mexico
coupled with the customer facing, product development and execution skills in
Houston should provide a winning team. I am asking for the three teams to
clearly identify the outsourcing targets, lead sales and structuring people
and the timing as far as starting discussion with each target customer
(ASAP). I would hope that the Mexican and Canadian teams would lead the
sales process and the Houston team lead the structuring, customer facing and
execution but I will let you decide the optimum mix. Either way, I am
expecting this target list completed and agreed to in the next two weeks for
Canada and Mexico;
and d) for Tembec I don't think it makes sense to change the deal team at
this point; however, the US team will keep the Canadian team in the loop and
if the products become non-outsourcing related the deal should be passed to
ECC.
Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 08/03/2000
12:31 PM ---------------------------
Rob Milnthorp
08/03/2000 09:46 AM
To: David W Delainey/HOU/ECT@ECT
cc:
Subject: Tembec and US Originators
Dave, attached is some of the background correspondence in anticipation of
our meeting with Brian Burnett.
Regards
Milnthorp
---------------------- Forwarded by Rob Milnthorp/CAL/ECT on 08/03/2000 09:29
AM ---------------------------
Angela McCulloch
07/27/2000 11:07 AM
To: Rodney Malcolm/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, James A
Ajello/HOU/ECT@ECT
cc: Rob Milnthorp/CAL/ECT@ECT
Subject: Tembec and US Originators
Rodney, Edward, Jim - We've been over this issue a number of times and I
thought we had reached resolution when we last met with Delainey. My
understanding with respect to coverage of Canadian Industrials is as follows:
1.) ENA to take lead on industrials that have facilities in both US and
Canada and will co-ordinate coverage with ECC with respect to Canadian
Facilities.
2.) ECC to take lead on industrials that have Canadian Facilities only.
3.) With respect to Canadian Pulp & Paper Industrials, ENA will cover Pulp &
Paper Swaps and SPV structuring. ECC will cover these industrials for all
other Enron products (i.e. power, gas, services, etc.) Again, coverage needs
to be co-ordinated.
Specific to Tembec, I share Paul's concerns on why ENA would send 2 people to
talk to Tembec re: outsourcing when Tembec is across the hall from ECC, ECC
has an established relationship, and Tembec is a Canadian Company with no US
facilities.
It is my hope that we can resolve this amongst ourselves without having to
get Dalainey involved. I would suggest a conference call next week. In the
interim, Paul will forward a CA to Tembec in contemplation of an outsourcing
arrangement.
Regards,
Angela McCulloch for Rob Milnthorp
Assistant to Rob Milnthorp
(403) 974-6738
---------------------- Forwarded by Angela McCulloch/CAL/ECT on 07/27/2000
11:04 AM ---------------------------
Paul Devries
07/25/2000 01:30 PM
To: Rob Milnthorp/CAL/ECT@ECT
cc:
Subject: Tembec and US Originators
Rob, We just had a very good meeting with Tembec about Energy procurement and
energy outsourcing. While the meeting went well, I am very confused about
the Enron team making the pitch to them. My understanding is that the
Canadian originators - particularly the Toronto team for Eastern Canadian
companies will be responsible for everything except for pulp and paper swaps
and to some extent, new SPV's.
In this instance,
1. Tembec is a Canadian Company
2. All their assets are in Canada
3. Jan has been working with Tembec people in their largest facility
4. We know the executive team at Tembec
5. We clearly are very knowleadgable in all aspects of the Ontario energy
market which is their focus right now
6. We understand and are pitching the overall energy outsourcing arrangement
similar to the US pitches
With this in mind, I am not sure why Kellie Metcalf and Bob Anderson flew up
here (6 hours flight time there and back, $4,000 to $5,000 in flights and
hotels) for a 4 hour meeting with Tembec. Kelly was quite vocal in saying
that this is a client they want to serve out of Houston. I have stated to
her that that does not make any sense in terms of efficiency and costs and
knowledge of the market where Tembec's assets are. Obviously, much of the
technical engineering work would and should be done by the engineering team
put together in the Industrial Services Group should a deal be struck.
However, the commercial negotiations and marketing should be led by this
office!!!
I thought this had been agreed to already. We managed to piece up the
meeting and deliver the "Enron" message, but going forward we need to have
this resolved.
Cheers, Paul D |
Here it the alternate decision itself.
Peter Bray
The New Power Company
"Delaney Hunter" <[email protected]>
03/02/01 09:01 AM
Please respond to dhunter
To: "Aaron Thomas (E-mail)" <[email protected]>, " 'Allan Lippincott'"
<[email protected]>, " Ann Cohn (E-mail)" <[email protected]>, " 'Ann
Watson'" <[email protected]>, " Anna Ferrera (E-mail)"
<[email protected]>, " 'Art Carter'" <[email protected]>, " 'assistant
for John Fielder'" <[email protected]>, " Audra Hartmann (E-mail)"
<[email protected]>, " Barbara Barkovich (E-mail)" <[email protected]>,
" 'Becky Kilbourne'" <[email protected]>, " Bill Booth (E-mail)"
<[email protected]>, " 'Bill Dombrowski'" <[email protected]>, " Bill
Keese (E-mail)" <[email protected]>, " Bill Zobel (E-mail)"
<[email protected]>, " 'Bob Foster'" <[email protected]>, " 'Bob Houston'"
<[email protected]>, " Brian Kelly (E-mail)" <[email protected]>, "
Carolyn McIntyre (E-mail)" <[email protected]>, " Catherine Hackney
(E-mail)" <[email protected]>, " Charles Bacchi (E-mail)"
<[email protected]>, " Cindy Richburg Howell (E-mail)"
<[email protected]>, " 'Craig Brown'" <[email protected]>, " Dan Carroll
(E-mail)" <[email protected]>, " Delbert Fore (E-mail)"
<[email protected]>, " 'Denice Cazalet'" <[email protected]>, " Dennis
Price (E-mail)" <[email protected]>, " 'Denny Samuel'" <[email protected]>,
" 'Dominic DiMare'" <[email protected]>, " Dorothy Rothrock
(E-mail)" <[email protected]>, " Doug Fernley (E-mail)"
<[email protected]>, " 'Ed Yates'" <[email protected]>, " Edson Karen
(E-mail)" <[email protected]>, " Eloy Garcia (E-mail)" <[email protected]>, "
Evelyn Elsesser (E-mail)" <[email protected]>, " Gary Heath (E-mail)"
<[email protected]>, " 'Gordon McDonald'" <[email protected]>, "
Greg Hardy (E-mail)" <[email protected]>, " 'Jack Flanigan'"
<[email protected]>, " Jack Gualco (E-mail)"
<[email protected]>, " 'Jack Stewart'" <[email protected]>, "
'James Boyd'" <[email protected]>, " Jan Smutny-Jones (E-mail)"
<[email protected]>, " Jeanne Cain (E-mail)" <[email protected]>, "
Jeff Dasovich (E-mail)" <[email protected]>, " 'Jerry Jordan'"
<[email protected]>, " Jim Groniger (E-mail)" <[email protected]>, " Joe Lyons
(E-mail)" <[email protected]>, " 'Joe Ronan'" <[email protected]>, "
John Bridges (E-mail)" <[email protected]>, " 'John Fielder'"
<[email protected]>, " John Fistolera (E-mail)" <[email protected]>, " John
Larrea (E-mail)" <[email protected]>, " John Rozsa (E-mail)"
<[email protected]>, " John White (E-mail)" <[email protected]>, "
'Joseph Alamo'" <[email protected]>, " Julee Malinowski-Ball (E-mail)"
<[email protected]>, " 'Julia Wright'" <[email protected]>, " Kelly
Boyd (E-mail)" <[email protected]>
cc: [email protected], " " <[email protected]>, " Karen Jarrell (E-mail)"
<[email protected]>, " Karen Koyano (E-mail)" <[email protected]>, "
'Karen Lindh'" <[email protected]>, " Karen Mills (E-mail)" <[email protected]>,
" 'Kari Harteloo'" <[email protected]>, " Kassandra Gough (E-mail)"
<[email protected]>, " Kathy Brandenburg (E-mail)"
<[email protected]>, " Kay Grosulak (E-mail)"
<[email protected]>, " Keith McCrea (E-mail)" <[email protected]>, " Kent
Smith (E-mail)" <[email protected]>, " Kevin Lynch (E-mail)"
<[email protected]>, " Kevin Smith (E-mail)" <[email protected]>, "
Kip Lipper (E-mail)" <[email protected]>, " Lawrence Lingbloom (E-mail)"
<[email protected]>, " Lenny Goldberg (E-mail)" <[email protected]>,
" Louis Szablya (E-mail)" <[email protected]>, " Marc Joseph (E-mail)"
<[email protected]>, " Marwan Masri (E-mail)"
<[email protected]>, " Michael Alcantar (E-mail)" <[email protected]>, "
Mike Florio (E-mail)" <[email protected]>, " 'Mike Kahl'" <[email protected]>,
" Mona Petrochko (E-mail)" <[email protected]>, " Pete Conaty (E-mail)"
<[email protected]>, " Peter Bray (E-mail)" <[email protected]>, " 'Phil
Nails'" <[email protected]>, " Phil Stohr (E-mail)" <[email protected]>, "
Ralph Cavanagh (E-mail)" <[email protected]>, " Randy Chinn (E-mail)"
<[email protected]>, " Ray Thompson (E-mail)" <[email protected]>,
" Richard Costigan (E-mail)" <[email protected]>, " Richard
Mersereau (E-mail)" <[email protected]>, " 'Rick Counihan'"
<[email protected]>, " Robert Berry (E-mail)" <[email protected]>,
" Robin Larson (E-mail)" <[email protected]>, " Scott Tomashefsky (E-mail)"
<[email protected]>, " Sheryl Carter (E-mail)" <[email protected]>,
" Steve Pike (E-mail)" <[email protected]>, " Steve Ponder (E-mail)"
<[email protected]>, " Stu Wilson (E-mail)" <[email protected]>, " 'Sue
Mara'" <[email protected]>, " Susan Reeder (E-mail)" <[email protected]>, "
Terry Winter (E-mail)" <[email protected]>, " Tim Schmelzer (E-mail)"
<[email protected]>, " 'Tommy Ross'" <[email protected]>, " Tony Braun
(E-mail)" <[email protected]>, " Victoria Schaefer (E-mail)" <[email protected]>
Subject: FW: Commissioner Bilas
Folks-
Per our meeting yesterday I am forwarding the attached letter and
information. Please contact Mike Day, Jeff Dasovich or Scott Governor if you
have questions or would like to sign on to the letter.
Thanks,
Delaney
____________________________________________________________________________
________
For those of you who are not aware, CPUC Commissioner Richard Bilas
issued an Alternate Draft Order, which among other things, indicates
that the CPUC shall stay any action on implementation of the suspension
of direct access as mandated in ABX 1. We have attached a draft support
letter to Commissioner Bilas for his Alternate Draft Order for use
either by the coalition, or, individual members who wish to respond.
I have received affirmative
responses from the following organizations to sign on in support of CPUC
Commissioner Bilas' Alternate Decision regarding direct access:
California Retailers Association
California Manufacturers Association
Kaiser
Timing is crucial. Please e-mail both Mike Day at [email protected] and
myself if you would like to sign on to the letter.Scott Govenar
- BILASALT7.DOC |
Thank you.
On the SDEC:
this is no longer an '02 play. To keep it as an '03 play three things need
to happen:
(1) we need to move our application for an Unusual Use Permit from the
jurisdiction of the Community Zoning Appeals Board ("CZAB") to the Board of
County Commissioners. The CZAB is a parochial board that is stacked with
NIMBY's. We have been doing our assessment of the communities and after
weeks of investigation we have concluded that if we go before the CZAB, we
feel we will be facing sudden death. However, if we go before the County
Commissioners, we will have a very good chance of success. The vehicle we
propose to use to change the jurisdiction is something called an Application
of Vested Rights. As I understand it, (I'm getting info on this today), this
is a statement that says that a property owner is being prevented from any
use of his property. This application needs to be submitted to the county
before June 6th, the date of our CZAB hearing.
(2) we will need to negotiate an arrangement with Dade County Department of
Environmental Resources Management ("DERM") who is responsible for ensuring
that the land fill be closed. They have been pushing the owner of the
property to initiate the closure work. The land owner, Certrosa Holdings,
is a single asset company and the sole owner lives in Venezuela. If we were
not in the picture, I believe Certrosa Holdings would most likely default on
the obligation to close the landfill leaving the county to clean it up (at $3
to 4 million). To keep this as an '03 play we will need to get DERM to agree
to post pone the closure proceedings for at least a year and we will need
provide some assurances that if we do exercise the option and get in the
chain of title that we would assume the obligation to close the landfill. We
may need to initiate this conversation in the next 2 to 3 weeks.
(3) we will need to extend the Option Agreement which expires on September.
The strike price for this property is approximately $1.3 million and we paid
$200,000 for a 9 month option last October (when the rules were soft costs
could not exceed 5% of the total project cost of $175 million). Based on the
success of (1) and (2) above, we may need to initiate this discussion in the
next 2 to 3 weeks as well.
On the Medley - Dunn discussions:
As you know, when Ann Elizabeth and I left the the Dunns, last month, they
had two deal breakers: (a) they wanted a committment on our part that we
would pay a certain amount of taxes to the town and not go for a tax
abatement. (we said the taxes and any arrangement we make with the town
would not involve the Dunns) (b) they wanted us to assume all past and
present environmental liabilities. We said no to both conditions and halted
discussions. I have heard from the real estate agent representing the Dunns
that they are considering giving on both these items. If we structured an
arrangement where we did a phase 2 environmental assessment during a 60 to 90
day "due diligence" period (rather than in an option period or under a 90 day
lease), gave both parties the chance to opt out of the deal based on the
results of the phase 2; and, we change the agreement back to the way it was
in the last Andrew & Kurth draft which was silent on the issue of historical
environmental liability and liability from environmental problems that arise
in the future but are not the result of our operations. Would this
arrangement give us adequate protection and give us the right to sue if
necessary to have the Dunns or any other responsible party help pay for any
clean up? If this is something we can work with, we need to have a
conversation with the Dunn's attorney. What do you think?
-----Original Message-----
From: Mann, Kay
Sent: Wednesday, May 23, 2001 11:03 AM
To: Krause, Greg
Subject: RE: AEW's backup
Greg,
You can call me on whatever you have, including Midway, SDEC and Medley
Dunn. If I have a problem getting to something, I'll find help.
Kay
From: Greg Krause/ENRON@enronXgate on 05/23/2001 10:50 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
Kay,
Ann Elizabeth did not provide a designated hitter for the South Dade Energy
Center (Dade Development Company LLC is Optionee, Certosa Holdings is
Optionor) nor did she provide one for tne Medley Dunn project. I have been
told that the Dunns are considering backing off their ultimatums that they
gave Ann Elizabeth and I regarding taxes to the town and assumption of
enviromental liability. Who do I talk to about the Dunn contract while Ann
Elizabeth is out?
-----Original Message-----
From: White, Ann Elizabeth
Sent: Tuesday, May 22, 2001 10:33 PM
To: [email protected]; Krimsky, Steven; Ben Jacoby/HOU/ECT@ENRON; Carnahan,
Kathleen
Cc: Milligan, Taffy
Subject: AEW's backup
Kay Mann is the designated hitter for the Pompano and Deerfied projects while
I'm on vacation. I've given her a down load of the status of Greg and
Steve's projects. Chris Boehler at A&K will be the designated hitter for
Midway. I'm not going to check my voice mail while I'm gone but, if
necessary, here are the contact numbers while I'm gone.
Walter and Marlena Schilling 011-49-8218-89351 [email protected]
Monika and Bernhard Steinacher 011-49-8232-8932 [email protected]
If you call, Walter and Bernhard and Bernhard's daughter, Susanne, speak very
good English. Monika's isn't bad. Marlena may get flustered and hang up on
you.
Best of luck at Deerfield and hope to see Pompano on track when I get back in
the office on June 11th. Kay is planning on going to Florida on June 12 for
the moratorium hearing and the rezoning hearing. |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 10/17/2000
02:33 PM ---------------------------
Maria Sandoval
10/17/2000 10:49 AM
To: Andrea R Guillen/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Bernice
Rodriguez/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Cassandra S
Dutton/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT,
Chantelle Villanueva/HOU/ECT@ECT, [email protected],
[email protected], Judy Hernandez/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, [email protected], Pamela Sonnier/HOU/ECT@ECT, Brenda
Barreda/HOU/EES@EES, Yolanda Pena/Corp/Enron@Enron, Claudia
Clark/HOU/ECT@ECT, Lisa Shoemake/HOU/ECT@ECT, Amber Limas/HOU/ECT@ECT, Alex
Saldana/HOU/ECT@ECT, [email protected],
[email protected], Alisha Guerrero/HOU/ECT@ECT,
[email protected], [email protected], "Richardson,
Monica" <[email protected]>, [email protected]
cc:
Subject: CHAIN!This is funny.
---------------------- Forwarded by Maria Sandoval/HOU/ECT on 10/17/2000
10:47 AM ---------------------------
From: Chantelle Villanueva 10/17/2000 10:14 AM
To: Elizabeth Soto/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT, Irena D
Hogan/HOU/ECT@ECT, Heather Choate/HOU/ECT, Kim Perez/ET&S/Enron@ENRON,
Kimberly Vaughn/HOU/ECT@ECT, Aimee Lannou/HOU/ECT@ECT, Alisha
Guerrero/HOU/ECT@ECT, Brenda Barreda/HOU/EES@EES, Pamela Sonnier/HOU/ECT@ECT,
Melissa Rodriguez/HOU/ECT@ECT
cc:
Subject: CHAIN!This is funny.
---------------------- Forwarded by Chantelle Villanueva/HOU/ECT on
10/17/2000 10:16 AM ---------------------------
From: Kim Perez@ENRON on 10/17/2000 10:13 AM
To: [email protected], [email protected],
[email protected], Chantelle Villanueva/HOU/ECT@ECT
cc:
Subject: This is funny.
---------------------- Forwarded by Kim Perez/ET&S/Enron on 10/17/2000 10:11
AM ---------------------------
"Bill R. Hulin" <[email protected]> on 10/17/2000 09:52:44 AM
To: [email protected]
cc:
Subject: This is funny.
Subject: THIS IS HILARIOUS!!!!!!!!!!
>
> > > > > >> DO NOT SAVE - PASS ON
> > > > > >>
> > > > > >> A man takes the day off work and
> > > > > >>
> > > > > >> decides to go out golfing.
> > > > > >> He is on the second hole when he
> > > > > >>
> > > > > >> notices a frog sitting next to
> > > > > >>
> > > > > >> the green.
> > > > > >>
> > > > > >> He thinks nothing of it and is
> > > > > >>
> > > > > >> about to shoot when he
> > > > > >>
> > > > > >> hears, Ribbit 9 Iron."
> > > > > >>
> > > > > >> The man looks around and doesn't
> > > > > >>
> > > > > >> see anyone. Again, he
> > > > > >>
> > > > > >> hears, "Ribbit 9 Iron." He looks
> > > > > >>
> > > > > >> at the frog and decides to
> > > > > >>
> > > > > >> prove the frog wrong, puts the
> > > > > >>
> > > > > >> club away, and grabs a 9 iron.
> > > > > >>
> > > > > >> Boom!
> > > > > >>
> > > > > >> He hits it 10 inches from the
> > > > > >>
> > > > > >> cup. He is shocked. He says
> > > > > >>
> > > > > >> to the frog, "Wow that's amazing.
> > > > > >>
> > > > > >> You must be a lucky frog, eh?
> > > > > >>
> > > > > >> The frog replies, "Ribbit Lucky
> > > > > >>
> > > > > >> frog."
> > > > > >>
> > > > > >> The man decides to take the frog
> > > > > >>
> > > > > >> with him to the next hole.
> > > > > >>
> > > > > >> "What do you think frog?" the
> > > > > >>
> > > > > >> man asks. "Ribbit 3 wood."
> > > > > >>
> > > > > >> The guy takes out a 3 wood and,
> > > > > >>
> > > > > >> Boom! Hole in one. The
> > > > > >>
> > > > > >> man is befuddled and doesn't know
> > > > > >>
> > > > > >> what to say. By the end
> > > > > >>
> > > > > >> of the day, the man golfed the
> > > > > >>
> > > > > >> best game of golf in his life and
> > > > > >>
> > > > > >> asks the frog, "OK where to
> > > > > >>
> > > > > >> next?"
> > > > > >>
> > > > > >> The frog replies, "Ribbit Las
> > > > > >>
> > > > > >> Vegas." They go to Las Vegas
> > > > > >>
> > > > > >> and the guy says, "OK frog, now
> > > > > >>
> > > > > >> what?" The frog says,
> > > > > >>
> > > > > >> "Ribbit Roulette." Upon
> > > > > >>
> > > > > >> approaching the roulette table, The man
> > > > > >>
> > > > > >> asks, "What do you think I should
> > > > > >>
> > > > > >> bet?" The frog replies, "Ribbit
> > > > > >>
> > > > > >> $3000, black 6." Now, this is a
> > > > > >>
> > > > > >> million-to-one shot to win, but
> > > > > >>
> > > > > >> after the golf game the man
> > > > > >>
> > > > > >> figures what the heck.
> > > > > >>
> > > > > >> Boom! Tons of cash comes sliding
> > > > > >>
> > > > > >> back across the table.
> > > > > >>
> > > > > >> The man takes his winnings and
> > > > > >>
> > > > > >> buys the best room in the
> > > > > >>
> > > > > >> hotel. He sits the frog down and
> > > > > >>
> > > > > >> says, "Frog, I don't know how to
> > > > > >>
> > > > > >> repay you.
> > > > > >>
> > > > > >> You've won me all this money and
> > > > > >>
> > > > > >> I am forever grateful."
> > > > > >>
> > > > > >> The frog replies, "Ribbit Kiss
> > > > > >>
> > > > > >> Me." He figures why not,
> > > > > >>
> > > > > >> since after all the frog did for
> > > > > >>
> > > > > >> him, he deserves it. With a
> > > > > >>
> > > > > >> kiss, the frog turns into a
> > > > > >>
> > > > > >> gorgeous 15-year-old girl. "And that,
> > > > > >>
> > > > > >> your honor, is how the girl
> > > > > >>
> > > > > >> ended up in my room. So help me God
> > > > > >>
> > > > > >> or my name is not William Jefferson
> > > > > >>
> > > > > >> Clinton."
> > > > > >>
> > > > > >> The origination of this letter is
> > > > > >>
> > > > > >> unknown, but it brings
> > > > > >>
> > > > > >> good luck to everyone who passes
> > > > > >>
> > > > > >> it on. The one who breaks the
> > > > > >>
> > > > > >> chain will have bad luck. Do
> > > > > >>
> > > > > >> not keep this. Do not send
> > > > > >>
> > > > > >> money.
> > > > > >>
> > > > > >> Just forward it to five of your
> > > > > >>
> > > > > >> friends to whom you wish good
> > > > > >>
> > > > > >> luck.
> > > > > >>
> > > > > >> You will see that something good
> > > > > >>
> > > > > >> happens to you four MINUTES
> > > > > >>
> > > > > >> from now if the chain is not
> > > > > >>
> > > > > >> broken.
> > > > > >>
> > > > > >> YOU WILL RECEIVE GOOD LUCK IN
> > > > > >>
> > > > > >> FOUR MINUTES.
> > > > > > |
I was disappointed, to say the least, at the return email I received from you so I waited before replying so as not to react in haste. Previously I stuck to facts and did not bring things of a personal nature into the equation. I feel, however, that there are a few things you should know about me and how I have exemplified the ENRON VISION so you can realize why I took this so seriously and why am, to be blunt, ticked off at the resolution.
In the 4 years that I worked on the scheduling desk for Clinton I never missed a day of work.........not one.
I never took vacation during bid week or during tie out time.
Between 96 - 00 I took all but 3 days vacation between the months of May - October so as not to interfere with winter gas operations.
I have had nothing but above average reviews in the past 5 years, been promoted twice, and received special recognition for working shorthanded through the winter of 99-00.
As you can see I have consistently put ENRON ahead of personal conveniences and strived to do the right thing for the company. I am distressed that the very values Enron holds me to ring hollow with regards to how I have been treated.
Changing vacation rules, be it legally legitimate, does not exemplify INTEGRITYin my eyes!
Not stating a policy change (THERE HAS STILL NEVER BEEN A FORMAL STATEMENT OF THIS CHANGE) does not illustrate COMMUNICATION!
Stating that I will be paid for vacation less any I take between now and the severance date is deceptive at the least and would not constitute RESPECT, EXCELLENCE nor INTEGRITY!
FACT - items 1 - 6 in the original email are 100% true. #2 is of the most significance as the words came from the lips of our HR representative that I would be paid the vacation amount we discussed UNLESS I TOOK ANY VACATION BETWEEN NOW AND JUNE 1st.
FACT - At least 2 people were allowed vacation time off during this transition (Susan Weison, Sheri Wallace)
FACT - If you check my vacation records you will find that I have taken a vacation EVERY YEAR IN MAY. My request was made, like in all previous years, a few weeks before I wanted to take it. HAD I KNOWN THAT THE RULES OF THE GAME WERE GOING TO BE CHANGED I WOULD HAVE MADE MY INTENTIONS KNOWN EARLIER.
In conclusion I do not expect, or even wish for a response. I have enjoyed my time with Clinton Energy and Enron. I have learned much and forwarded my career greatly and for that I am thankful. I just wanted you to know where I am coming from and how an unfortunate situation of severance was turned into one in which I leave being taught a lesson by Enron that does not make me a better person, just a smarter one. This lesson; a spotless record & loyalty to a company means very little. It is better to look out for #1. In the end the company you work for is going to protect their best interests regardless of the rhetoric in their Vision Statement. Thank you for your time.
Respectfully,
Sean Zurbrick
Judy Gray
05/04/2001 09:33 AM
To: Sean Zurbrick/DUB/EES@EES
cc: Cindy Olson/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, Jeff Skilling/Corp/Enron@ENRON, Kalen Pieper/HOU/EES@EES, Judy Gray/HOU/EES@EES, Ashley Kerr/HOU/EES@EES, Tim Weithman/DUB/EES@EES, Ken Brooks/DUB/EES@EES, Kriste Sullivan/Enron@EnronXGate
Subject: Re: Clinton Energy Vacation Policy & Request
Sean;
Thank you for bringing your concerns to us. We value the input of our employees, and constantly seek ways to improve the quality of our employee benefits. After talking to some of the parties involved in this matter and reviewing our vacation policy, we find that your management acted within the scope of its responsibility and within the bounds of our vacation policy. In addition, we find no evidence of inconsistencies and believe that you and your co-workers at Clinton have been treated equitably and fairly regarding the denial of vacation during this transition period.
In closing, we support the decision to deny vacation requests to the Clinton employees affected by this transition. Should you have any other questions, please do not hesitate to direct them to your management
Sean Zurbrick
05/01/2001 01:41 PM
To: Kenneth Lay/Corp/Enron@ENRON, Jeff Skilling/Corp/Enron@ENRON, Kalen Pieper/HOU/EES@EES
cc: Judy Gray/HOU/EES@EES, Ashley Kerr/HOU/EES@EES, Tim Weithman/DUB/EES@EES, Ken Brooks/DUB/EES@EES
Subject: Clinton Energy Vacation Policy & Request
I have held discussions with Tim Weithman, Ashley Kerr & Ken Brooks (immediate supervisor) regarding a request for vacation for the 3rd or 4th week in May. I have been told recently by both Ms. Kerr as well as Mr. Weithman that those of us being severed from the company are not permitted to take any vacation time between now and June 1st. It would seem that there are several inconsistencies regarding Enron policy as well as how the subject was presented both to the group as well as individually. Below are the inconsistencies I speak of.
During the group meeting in the beginning of April there was no mention of "vacation freezes". The only reference to time that was mentioned was that you must be employed by Enron as of June 1, 2001 to receive the severance package.
During my private discussion, in which both Ms. Kerr and Ms. Gray were present, I was presented with the specifics of the severance package. I specifically remember being asked for my current unused vacation amount. I gave them the amount of 152 hours and was told that I would be reimbursed for that total unless, of course, I took any additional vacation. This implied that regular Enron vacation policies would be in effect. Again, at no time was it presented to me that I was ineligible to take ANY of my earned vacation or that there would be any deviations from normal Enron policy regarding vacation.
At no time has Mr. Weithman, Ms. Gray, Ms. Kerr or any other Enron agent made public a policy of vacation freezes.
At no time were there ever any public or private requests that the plans for those with previously scheduled vacations to be made available to any Enron agent.
I can find nothing in my severance package that states any deviation from the standard Enron vacation policy.
I realize that Enron policy requires vacation approval from the supervising employee. It states in that policy the following:
"An employee's preference for scheduling vacation should be adopted when possible."
"The supervisor must verify that unit staffing needs are met before approving an employee's vacation request."
I am currently still an Enron employee. I have also verified that staffing needs are met.
In summary, as you can see there are several inconsistencies with regards to the vacation policy for those being severed at Clinton Energy. It more than offends me that I am being prohibited from taken ANY part of the 152 hours of accrued vacation that is, by all accounts, mine to take. This being said, I am formally requesting one last time that I be granted my vacation request during the month of May. Furthermore I would like this approval as soon as possible so that I may make necessary arrangements. As you review this I am consulting an attorney so that I may be advised of my rights regarding this matter.
Thank you,
Sean Zurbrick
614-760-2792
<Embedded StdOleLink> |
I am not sure it solves matters. Stikemans opinion points out:
1. as I indicated this morning, "money" means actual currency - notes and
coins - not funds transferred by wire into an account, which would likely be
treated as an "intangible" resulting in the various requirements/concerns I
pointed to this morning regarding perfection by registration;
2. although, in their view, the validity of the transfer approach would be
recognized by a court (in Ontario at least), given that the intention of the
Transfer Annex is to provide security for contingent obligations under the
Master Agreement and the lack of relevant case law, there is a material risk
that the Court would nonetheless characterize the transfer as a security
interest subject to the requirements for perfection.
With our present understanding, in the absence of any definitive case law,
and without an unequivocal opinion we can rely on, I am not sure we can rely
on the transfer approach to solve the problem, particularly with high volume
counterparties who likely are going to create the largest exposures.
Peter.
Carol St Clair 03/20/2001 09:19 AM
To: Peter Keohane/CAL/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary
Cook/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron, Anne C Koehler/HOU/ECT@ECT, Cheryl
Nelson/NA/Enron@Enron, Francisco Pinto
Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Frank
Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan Bailey/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron
Subject: Re: Cash Collateral In Canada
Peter:
Thanks for responding and sorry about you having to repeat this again as I
was not aware of your previous discussions. In Stikeman's November 2000 ISDA
Collateral Opinion, they suggest as an alternative course of action to modify
the Credit Support Annex to create a debtor/creditor relationship between the
parties and to provide for an outright transfer of cash instead of a pledge.
Do you have any thoughts on this? Is this an alternative that we should
consider implementing with some of our more persistent high volume
counterparties who are giving us a hard time about not being able to post
cash collateral to us?
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
Peter Keohane
03/20/2001 09:58 AM
To: Carol St Clair/HOU/ECT@ECT
cc: Greg Johnston/CAL/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary
Cook/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron, Chris
Gaffney/TOR/ECT@ECT, Mark Powell/CAL/ECT@ECT, Sharon Crawford/CAL/ECT@ECT,
Tana Jones/HOU/ECT@ECT
Subject: Re: Cash Collateral In Canada
In the past few weeks, I have discussed this issue with Brent H., Mark T.
Chris G. and Mary C. Under the PPSA jurisdictions in Canada, which includes
Alberta and Ontario among others, cash held on deposit as collateral is not
clearly categorized as "money" but more likely an "account". Although
certain categories of collateral can be perfected by possession, including
"money", "intangibles", which includes "accounts", cannot be perfected by
possession. The issue comes down to whether we will accept the risk that a
wire transfer to an account designated by us constitutes "money". Although
it is not clear, the better view is that "money" means cash in hand and not
on deposit. The risk is that an unperfected security interest is subordinate
to various parties, including a bankruptcy trustee and to subsequently taken
but properly perfected security interests. I will admit, however, that this
seems to be a risk that others in our market take (although likely
unknowingly).
Accordingly, to perfect the "account" a registration is likely required at
the PPR, which is something we do not want to get into.
Even then, as an "account" is an "intangible" certain conflicts rules for
perfection by registration need to be considered, as the PPSA jurisdictions
provide that perfection of an intangible is governed by the laws of the
jurisdiction where the debtor is located, as determined by the location of
its principal place of business or chief executive office. i.e. registration
may be required in some other jurisdiction entirely. Further, an advance
search would have to be done to see if there are competing prior
registrations. Also, as the PPR is not a guaranteed title registry,
registration priority does not necessarily guarantee security priority, and
law firms will not typically give priority opinions under the PPSA.
Lastly, if there is an insolvency and the deposit holding institution is also
a creditor of the counterparty, there may be some argument that the deposit
holding institution will assert rights of set off over the account.
In terms of updating advice, the statutory provisions have not to my
knowledge changed. I suppose there is some possibility that a court has
recently determined that "money" includes deposits that we are not aware of,
and I could ask outside counsel to research this issue.
Peter.
Carol St Clair 03/20/2001 07:45 AM
To: Peter Keohane/CAL/ECT@ECT, Greg Johnston/CAL/ECT@ECT
cc: Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT
Subject: Cash Collateral In Canada
Peter and Greg:
One of our counterparties is questioning why we won't accept cash collateral
in Canada. They claim that under the current state of the law, holding cash
collateral is the method for perfecting. Please advise. Should we ask
Stikeman to update their advice to us on this?
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected] |
On the first point the reference to a "municipal plant" did not disclose
whether it was a legal body corporate. That fine if the check has been made.
As far as the US$6m min asset level is concerned it does not specifically
relate to Australia counterparties (ie those incorporated in Australia). It
relates to companies with whom we trade Australian power irrespective of
place of incorporation. Under our power trading licence requirements we are
required to take reasonable steps to satisfy ourselves that we are dealing
with non-retail type investors. There is a check list in the licence of
requirements , the most relevant for companies not trading in Australia is
the AUD10m (US$6m) in "tangible assets".
Tana thank you for your offer. You are really doing an excellent job pulling
together a huge amount of information in such an effective. I am loath to do
anything that would make your job any more difficult. I think we can assume
that a party which has sufficient assets to trade US power can also trade
Australian power. As far as Australian incorporated companies are concerned
we will be checking their suitability Australian power hopefully at the time
we receive the password application. If not I will pick it up when I check
your list.
From: Tana Jones@ECT on 17-08-2000 09:10 CDT
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Re: EOL Credit Responses 08/14/00
Each legal trading group here in Houston checks on a relevant counterparty's
ability to trade its products. So far the only physical trading area where a
governmental counterparty appears to have problems is the power trading group
where there are licensing requirements that may or may not have been obtained
to trade power. For financial trading we do have to inquire into the
relevant governmental entities' authority to enter into derivative
transactions. In order to do that we look at statutory authority, any
relevant local regulations, investment policities, etc., in addition to
obtaining legal opinions on the subject, and with some counterparties hiring
outside counsel to advise us. For most governmental entities if we do not
have an ISDA Master in place and have already done such due diligence, I will
not be approving them to trade financial products.
As far as the financial test, for the US based counterparty list, I check
with Credit on every counterparty to determine whether they meet the US
eligible swap participant standards. As I'm sure you know, for most plain
vanilla corporates and partnerships this means having total assets of $10mm
or a net worth of $1mm. Pretty much, if I am turning down a counterparty to
trade financial it will be because they do not meet the ESP test or they are
a governmental or quasi-governmental entity.
If what you are telling me is that the Australian counterparties have to meet
a $6mm asset test to trade any products, then I will add this to my daily
inquiry to Credit and turn down Australian counterparties if they do not meet
this test. At your direction I will handle this in this manner. How would
you like me to proceed?
David Minns@ENRON_DEVELOPMENT
08/16/2000 07:58 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Re: EOL Credit Responses 08/14/00
Is this an incorporated entity? I assume its authority to trade a range of
products has been checked out? In Australia this assumption can not be made
for government entities
Under our licencing requirements we need to make reasonable enquiries that a
counterparty has (or is guaranted by someone who has) atleast USD6 million in
assets. Can this assumption be made?
From: Tana Jones@ECT on 16-08-2000 08:39 CDT
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Re: EOL Credit Responses 08/14/00
Tauton is ok for all products, except for financial products (it can do
power). David, when I talk about this I am never including credit
derivatives unless Credit specifically tells us in their spreadsheet that
this is a credit derivatives counterparty.
David Minns@ENRON_DEVELOPMENT
08/15/2000 05:32 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Re: EOL Credit Responses 08/14/00
Tana what can the Taunton Municipal Light Plant trade? Is it the same as
Huntsville?
From: Tana Jones@ECT on 15-08-2000 01:35 CDT
To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Stacy E
Dickson/HOU/ECT@ECT, Leslie Hansen/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT,
David Portz/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications
cc:
Subject: EOL Credit Responses 08/14/00
----- Forwarded by Tana Jones/HOU/ECT on 08/15/2000 01:35 PM -----
Bradley Diebner
08/14/2000 05:27 PM
To: Frank L Davis/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Sheri Thomas/HOU/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Cynthia
Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe Global
Contracts and Facilities, Enron Europe Global CounterParty, Stephanie
Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Claudia Clark/HOU/ECT@ECT
cc:
Subject: EOL Credit Responses 08/14/00
The EOL approvals for 08/14/00 are attached below.
Regards,
bd |
FYI. Thanks. Lynn
-----Original Message-----
From: Semin, Frank
Sent: Friday, November 16, 2001 4:06 PM
To: 'Jeff Hicken'; Sebesta, Chris; Blair, Lynn
Cc: Bill Zorr; Kelly Schneider
Subject: RE: Zone Allocations
To help clarify, a storage withdrawal reduction essentially created the same physical effect as would an injection during the recent storage allocations.
For example: If the storage fields had a net injection on a given day of 100 dth(physical maximum)and at the 8:00 a.m. cycle an injection increased by 25 dth, it would be denied because of the physical limitations. The same limitation would occur if a withdraw was reduced by 25 dth (creating a net 125 dth injection) at the 8:00 a.m. process because the same physical limitation existing.
Injections (150)
Withdrawals 50
Net (100) physical limitation
Trying to reduce a redraw of 25 dth would create:
Injections (150)
Withdrawals 25
Net (125) physically above the limitation and would be allocated.
The intra-day process are interative, that is FDD withdrawals/injections can impact the interruptible storage availability during the intra-day cycles, whereas the 8:00 a.m. process is only a individual true-up and not interative with the other storage agreements.
Lynn and Chris would gladly schedule some time to help clarify these issues, and I am sure it will be a lot more informative than my attempt here.
-----Original Message-----
From: Jeff Hicken [mailto:[email protected]]
Sent: Friday, November 16, 2001 11:47 AM
To: Sebesta, Chris; Blair, Lynn
Cc: Bill Zorr; Kelly Schneider; Semin, Frank
Subject: RE: Zone Allocations
It may be standard practice in your opinion, but Kelly, Bill and I have never heard of this or remember it happening to us. Also Entergy-Koch was completely surprised by it as well. We just can't understand why you would call a reduction in a withdrawal an injection. Your allocation is limiting storage injections and we were not making an injection. We'd like to know where to find this in the tariff so we can read it and understand it better. We pulled looked at the 8 a.m. process instructions on the web and it doesn't say anything about this.
What is really upsetting to us is were thought we were set up fine to be in compliance with the SUL and suddenly we couldn't do what we thought we had a right to do, even though Hot Tap accepted the nomination. On top of that, no one from NNG called us to let us know that our nomination had been undone and the same thing would have happened to us on the 11/15 gas day if we hadn't been lucky enough to have found it on our own. We pushed the gas across to ANR, but we are going to incur penalties from them as a result. The other really strange thing is that during the intraday processes we can cut back on our withdrawal even though storage is allocated, but you can't do it at 8 a.m. It just doesn't make any sense to us.
>>> "Sebesta, Chris" <[email protected]> 11/16/01 10:32AM >>>
Jeff, I am sorry WP&L and IES are experiencing allocation problems. It
is standard procedure during a storage (injection) allocation the 8 am
true up process does not allow FDD withdrawal reductions or storage
injections. Many other shippers are also working hard to manage their
business. Other than getting truer information on your market's needs
or finding alternate markets for your excess capacity, I don't have any
other ideas on how to address your zone allocations.
As requested I will add this item to our December 10 meeting agenda.
-----Original Message-----
From: Jeff Hicken [mailto:[email protected]]
Sent: Thursday, November 15, 2001 3:00 PM
To: Sebesta, Chris; Blair, Lynn
Cc: Bill Zorr; Kelly Schneider
Subject: Re: Zone Allocations
Chris
You should know that we are unhappy about something else now. For the
11/14 gas day you (NNG) did not let us reduce our FDD withdrawal
nomination to zero in the 8 am process like normal because of a storage
injection allocation. Because of this WP&L is going to get hit with SUL
DDVC penalties. Entergy-Koch who handles the IES assests was surprised
by this as well and IES may incur penalties too.
We weren't trying to make an injection, we were just trying to cut our
withdrawal to zero. We always schedule a maximum withdrawal in the
winter because we are always at risk of a zone allocaton just like we
have been seeing lately. We've had conference call with Jean Blair and
Jerry Wilkens on the topic. We are also in trouble now for the 11/15
gas day, which we are current trying to figure a way out of. You can
add this item to our discussion topics when you visit.
Jeff
Jeff Hicken
Gas Trader
Alliant-Energy
608-252-3173
>>> "Sebesta, Chris" <[email protected]> 11/13/01 09:52AM >>>
Lynn, as indicated in my voice mail, Frank and I would like you to call
Jeff Hicken of Alliant Energy. He would like someone to explain, (1)
why he is getting allocated at the zone level when he is trying to
adjust his timely cycle noms later in the day to reflect lower
requirements, and (2) what are his alternatives, especially as storage
may have a chance of being allocated. Please call Jeff today. He can
be reached at 608-252-3173.
Thank you.
Chris Sebesta
Northern Natural Gas
Office: 402-398-7064
Fax: 402-398-7413
[email protected]
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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.
********************************************************************** |
Do we have anything that could help them?
---------------------- Forwarded by Shona Wilson/NA/Enron on 12/04/2000 03:23
PM ---------------------------
To: Debbie R Brackett/HOU/ECT@ECT, Stephen Stock/HOU/ECT@ECT
cc: Jitendra Patel/Market Risk Management/LON/ECT@ECT, James New/LON/ECT@ECT,
Shona Wilson/NA/Enron@Enron, Ted Murphy/HOU/ECT@ECT
Subject: Status update on the issues surrounding Continental Power
volatilities and correlations
FYI
This relates to the quality of the upstream risk systems and Continental
Power's ability to get its risk system in order. To summarise:
option products valued incorrectly in Enpower and not using a volatility curve
no ability to produce vega and gamma sensitivities for a portfolio
incorporating options
Steve - what is the valuation routine used in Houston for power options - I
would like to see it if possible ?
Shona - we ought to examine these valuation methods to ensure we are happy.
DP
---------------------- Forwarded by David Port/Market Risk/Corp/Enron on
12/04/2000 01:54 PM ---------------------------
James New@ECT
11/28/2000 07:42 AM
To: Ted Murphy/HOU/ECT@ECT, David Port/Market Risk/Corp/Enron@ENRON
cc: Mike Jordan/LON/ECT@ECT, Coralie Evans/LON/ECT@ECT, Fernley
Dyson/LON/ECT@ECT
Subject: Status update on the issues surrounding Continental Power
volatilities and correlations
As you know for some time we have been trying to get the Continental Power
traders to increase the volatilities they use for valuing their option
portfolio and for use in calculating their VAR as it has been obvious that
the market has become more volatile but this was not being reflected in
their mark.
In looking at the impacts of this, various other issues came to light.
Firstly it raised issues over the correlation matrix used in the VAR model as
this was way out of date. We have worked with Jitendra and have now put in a
matrix that both the traders, risk and RAC are happy with. Secondly, as you
may be aware, in Portcalc swaptions currently use the volatility input on the
deal ticket and not off any volatility curve.
The current portfolio is 90% swaptions and so this represents a serious issue
for us in that it is not practical to manually change all the volatilities at
the deal ticket level every time the implied voaltilities change. We cannot
use the option functionality as this only values hourly or daily exercise
options and not fixed expiry swaptions or options. We also have not found any
way in Portcalc of valuing Asian options so we are having to 'force' in the
few we have. We have had the Houston based Portcalc IT team work on a 'new'
piece of swaption valuation code but currently it contains a number of
worrying bugs. These are primarily that the proposed code does not take the
correct underlying forward price and uses the volatility of (approximating)
the last day of the underlying rather than the implied volatility of the
underlying.
They are currently being hampered in that they do not have any IT personnel
who have sufficient option knowledge (I understand that the two most
experienced coders resigned to go to another Houston based energy company).
This is extremely worrying and I find it hard to believe that the whole of
Enron's power business is having to use the methodology of inputting the
volatility at the deal ticket level. This will almost certainly mean that
different volatilities are being used in the VAR as are being used to value
the swaption portfolio globally. As well as these issues we have concerns
over the use and accuracy of the smile adjustment in Portcalc (worryingly it
does not seem that you can 'switch' this off). Briefly it seems that Portcalc
calculates the delta used to adjust the volatility by comparing the strike
price to the forward price of the last day of the underlying rather than the
forward price of the underlying itself.
We have engaged London based IT and are looking at the code we have used in
Power 99 to se if there is a way we can get something done quickly to start
to value all option products off a curve and to be able to book Asian options.
Once we get the above resolved we still have no way or extracting the vega or
gamma risk from Portcalc in it's current state as the information is just no
there (so we are told by IT). The system 'seems' (we cannot be 100% sure
given all the other errors) to produce a vega and gamma P&L number but what
the risk is remains a mystery. Again this is very worrying in that we have
Power option traders all over the world who can't get their underlying vega
or gamma risk position from the global valuation system. We are trying to
work on something manual to draw a line in the sand but I would really like
to know how the American based traders cope as they have this problem
(knowingly or not) for years. What sign offs were gained for the
implementation of Enpower because it seems to us that using the current
system it is not possible to comply with the Global Risk policy. How do we
validate the inputs to the valuation if we do not know the risk ?
Despite the above we have now persuaded the traders to save out newer higher
volatilities a week ago and you should have seen a large move up in their
VAR. However, as it stands at the moment they are notable to save out a daily
remark as Jitendra is saying that he is not happy with their 'model' / vol
curve generator (I have today asked for a full explanation, details of any
testing etc etc and time lines so we can move to getting over this hurdle).
The swaptions have also not yet had the ticket volatility changed but the
impacts are expected to be positive as we are long volatility.
I would appreciate your comments on the above as it seems that we are pushing
the boundaries here on areas which we really expect to have already been
covered in Houston some time ago and could do with some help. We are having
to use a system which seems to us to have numerous bugs and short comings and
are having to spend an enormous amount of IT time overcoming the inadequacies
of Enpower wich I do not think most people are aware of. Consequently we have
not been able to deliver all the improvements we were required to do in
gaining the increased limits so 3 months ago but I would hope you agree that
it is not for a lack of trying.
Sorry it's so long but if there are any questions or any perceived
inaccuracies in any of the above then please let me know.
James |
Check this out. Can't remember if I have sent this to you before.
PL
---------------------- Forwarded by Phillip M Love/HOU/ECT on 10/03/2000
10:17 AM ---------------------------
Enron North America Corp.
From: Darron C Giron 10/02/2000 05:02 PM
To: Greg Couch/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Jackson
Logan/HOU/ECT@ECT
cc:
Subject: Fw: FW: Paul Harvey Story ...Probably Should Circulate This One...
---------------------- Forwarded by Darron C Giron/HOU/ECT on 10/02/2000
05:01 PM ---------------------------
"Darron Giron" <[email protected]> on 10/01/2000 10:21:33 PM
Please respond to "Darron Giron" <[email protected]>
To: <[email protected]>
cc:
Subject: Fw: FW: Paul Harvey Story ...Probably Should Circulate This One...
-----Original Message-----
From: Ronnie Giron <[email protected]>
To: Carl Swan <[email protected]>; Georges Tadros
<[email protected]>; Cabell Tice <[email protected]>; Stewart
McAdoo <[email protected]>; Robert Missroon <[email protected]>; Filomena OLeary
<[email protected]>; Manuel Orantes <[email protected]>;
Daren Osborn <[email protected]>; Howard Osborn <[email protected]>;
Alessandro Petrini <[email protected]>; Ann Simmons
<[email protected]>; Bill Simmons III <[email protected]>; Larry
Spears <[email protected]>; Maria Araiza <[email protected]>; Xavier
Arguello-Carrazo <[email protected]>; Roberto R Babun <[email protected]>;
Jim Douglas <[email protected]>; Ricardo Escoto <[email protected]>; Carlos
Giron <[email protected]>; Darron Giron <[email protected]>; Tito Giron
<[email protected]>
Date: Saturday, September 30, 2000 8:41 AM
Subject: Fwd: FW: Paul Harvey Story ...Probably Should Circulate This One...
>
>Note: forwarded message attached.
>
>
>__________________________________________________
>Do You Yahoo!?
>Yahoo! Photos - 35mm Quality Prints, Now Get 15 Free!
>http://photos.yahoo.com/
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From: Kathy Atherton <[email protected]>
To: "'[email protected]'" <[email protected]>
Subject: FW: Paul Harvey Story ...Probably Should Circulate This One...
Date: Fri, 29 Sep 2000 16:14:25 -0400
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?
-----Original Message-----
From: Wilensky, Bob [mailto:[email protected]]
Sent: Friday, September 29, 2000 3:58 PM
To: Hank Coolidge (E-mail); Palmertree, Kenneth
Subject: Paul Harvey Story ...Probably Should Circulate This One...
>> > __________________________________
>> > Subject: Paul Harvey story
>> > Author:? Steven M Wilson at NOOK003L
>> > Date:??? 09/25/2000 10:26 AM
>> >
>> >
>> >???????? It was a Paul Harvey story >
>> >????? > So please pass it on !!!!!!!
>> >????? >
>> >????? >
>> >????? > << >Conveniently Forgotten Facts ?? >? >
>> >????? >? >Back in 1969 a group of Black Panthers decided that a fellow
>> black
>> >????? >? >panther named Alex Rackley needed to die.? Rackley was
>suspected
>> >????? >? >of disloyalty.? Rackley was first tied to a chair.? Once
safely
>>
>> >????? >immobilized his 'friends' tortured him for hours by, among other
>> >????? >? >things, pouring boiling water on him.
>> >????? >? >
>> >????? >? >When they got tired of torturing Rackley, Black Panther
member
>> >????? >? >Warren Kimbo took Rackley outside and put a bullet in his
head.
>> >????? >? >Rackley's body was later found floating in a river about 25
>miles
>> >????? >? >north of New Haven, Conn.? Perhaps at this point you're
curious
>> >????? >? >as to what happened to these Black Panthers.? In 1977, that's
>> only
>> >????? >? >eight years later, only one of the killers was still in jail.
>> >????? >? >
>> >????? >? >The shooter, Warren Kimbro, managed to get a scholarship to
>> >???????? Harvard.
>> >????? >? >He later became an assistant dean at Eastern Connecticut
State
>> >????? >? >College.? Isn't that something? As a '60s radical you can
pump
>a
>> >????? >? >bullet into someone's head, and a few years later, in the
same
>> >???????? state, you can become an assistant college dean!? Only in
>America!
>> >????? >? >
>> >????? >? >Erica Huggins was the lady who served the Panthers by boiling
>the
>> >????? >? >water for Mr. Rackley's torture.? Some years later Ms.
Huggins
>> >????? >? >was elected to a California School Board.
>> >????? >? >
>> >????? >? >How in the world do you think these killers got off so easy?
>> >????? Maybe
>> >????? >? >it was in some part due to the efforts of two people who came
>to
>> >????? >? >the defense of the Panthers.? These two people actually went
so
>> >????? >? >far as to shut down Yale University with demonstrations in
>> >????? >? >defense of the accused Black Panthers during their trial.
>> >????? >? >
>> >????? >? >One of these people was none other than Bill Lan Lee. Mr.
Lee,
>or
>> >????? >? >Lan Lee, as the case may be, isn't a college dean.? He isn't
a
>> >????? member
>> >????? >? >of a California School Board. He is now head of the US
Justice
>> >????? >? >Department's Civil Rights Division.? O.K., so who was the
other
>> >????? >? >Panther defender?
>> >????? >? >
>> >????? >? >Is this other notable Panther defender now a school board
>member?
>> >???????? Is this other Panther apologist now an assistant college dean?
>> No,
>> >????? >? >Neither!? The other Panther defender was, like Lee, a radical
>> >????? >? >law student at Yale University at the time.? She is now known
>as
>> >????? >? >The "smartest woman in the world."
>> >????? >? >
>> >????? >? >She is none other than the Democratic candidate for the US
>Senate
>> >????? >? >from the State of New York----our lovely First Lady, the
>> >????? >? >incredible Hillary Rodham Clinton.
>> >????? >? >
>> >????? >? >And now; as Paul Harvey says; you know (the rest of the
story).
>> >????? >? >Pass this on!? She deserves the press................
>> >????? >? > ??????????????????????????????????????????????????
???????????????? |
Energy Committee, Business Continuity and Blackout Busters...
the following information may be of great interest to many of you. Please
don't miss the following opportunities by disregarding this message. Terry
was at our committee meeting yesterday as an observer and was very pleased.
He has programs that are free and that can be subsidized by different
groups. His phone number and e-mail are below. Thanks. Laura
-----Original Message-----
From: Terry O'Sullivan [mailto:[email protected]]
Sent: Sunday, April 22, 2001 3:54 AM
To: [email protected]
Subject: EZ Star Software Tool and Office Equipment Efficiency Program
Laura Goldseth:
Thanks for offering to convey the attached materials about US DOE's EZ Star
software tool, and the Office Equipment Efficiency Program to members of the
Silicon Valley Manufacturers Group Energy Committee. This email is in lieu
of squeezing onto the Committee's Monday 4/23 Agenda, and background for a
possible future agenda slot.
As we've discussed, EZ Star's developer, David Ensign, is in town 4/23 to
4/26 to do on-site demonstrations.
1) If it's possible, we would be very grateful if someone announced the San
Francisco and Oakland demos mentioned in the attached flyer - or pointed
people to the flyer on the web at
www.energy-solution.com/off-equip/demos.html - or even pointing people to
Monday's SF Chronicle technology column, where the program is expected to
get plugged.
2) David Ensign and I hope to attend Monday's meeting at EPRI as Lynn
Morrison (Wattstopper)'s guests. Our intent is just to catch up with a few
of your members in the flesh (instead of just email), and to see your
process. If your format allows for Mr. Ensign to be acknowledged in some
way, it might make the program more tangible in our planned future
discussions about the program by your committee.
I have attached the flyer for the upcoming software demonstrations, along
with a pdf of the State-funded Office Equipment Efficiency Program, and a
summary sheet about EZ STAR. The rest of this email includes a brief
description of the EZ Star software tool, and a somewhat generic email about
the Office Equipment Efficiency Program.
EZ Star
US Department of Energy has recently developed EZ Star, free software that
enables systems administrators to easily poll, then enable sleep mode for
all computer monitors on a LAN. This software tool will be a key feature in
US EPA's upcoming national campaign to enable sleep mode for computer
monitors. The software developer, David Ensign, is in town next week (April
23-26) to demonstrate the software. He is teaming up with the State-funded
Office Equipment Efficiency Program, which can PAY organizations an
incentive if they enable sleep mode on monitors, either through EZ Star or
other means.
This is a chance to see something new and potentially important. California
is at the leading edge of the national EPA campaign, and the SF Bay Area is
the first place the software is being significantly marketed. All four
organizations who saw this demo 3 weeks ago are planning to use the
software: East Bay Municipal Utility District (1500 computers); the
California Energy Commission (600 machines); Mills College (600 machines);
and East Bay Regional Parks (250 machines).
* * *
OFFICE EQUIPMENT EFFICIENCY PROGRAM - Highlights
Energy Solutions, State-funded Office Equipment Efficiency Program provides
an easy and environmentally friendly way to reduce energy use by computers
and other office equipment; this end use is the fastest growing part of most
organizations, energy bills. Also, by being noticeable to nearly all staff
in the organization, the program demonstrates a commitment to conserve
energy to those inside and outside the organization.
State-Funded Program
Energy Solutions (www.energy-solution.com) has been funded by the State to
offer free office equipment efficiency services to businesses and
institutions in the PG&E service territory. The State funded this program
to reduce peak electricity use and to help avert rolling blackouts in Summer
2001.
Enable ENERGY STAR Features ) FOR FREE
The Office Equipment Efficiency Program makes it easy to enable the built-in
energy savings features (i.e., &sleep8 settings) of ENERGY STAR office
equipment - especially computer monitors. The program offers free enabling
services, incentive payments to the site, and support for using the US EPA,s
new network-based enabling tool. We estimate that this NO COST measure
can save your organization $25 per year per computer monitor enabled. *
Further, since nearly every employee notices this change and receives a user
awareness brochure, this measure raises the energy-awareness of staff.
Blank computer screens at vacant desks can serve to remind staff that energy
costs are an issue that the organization is taking seriously.
Deep Discounts on &Smart8 Hardware
The program also offers energy saving hardware, bought down to
below-wholesale prices by using the State funding. We can provide "smart"
power strips that turn off desk lights, personal printers, etc through a
desktop occupancy sensor. This is a $68 item that we subsidize to $10
each. And for private offices we offer wall-switches with occupancy sensors
to turn off overhead lighting (a $58 product sold for $20 through the
program). Either of these items should save your organization more than $25
per year in energy costs.
User Awareness Campaign
Finally the program offers employee awareness literature to encourage
conservation and to dispel common myths. Two common myths are that &screen
savers8 save energy, and that leaving your computer on all the time saves
money or makes computers last longer.
This program,s no-cost/ low-cost measures can provide an effective first
step toward reducing your organization,s rising energy costs; or they can
compliment a comprehensive energy strategy by addressing an often-overlooked
power use. In either case, the services would be part of any organization,s
effort to take advantage of the Governor,s new incentives to reduce energy
use by 20% this summer!
The program expires June 30, and the program,s hardware offer may be gone
before then.
For more information (or to enable your own computer monitor now), please
check out the program,s web pages at: www.energy-solution.com/off-equip. If
we can provide any further information on the program in the meantime,
please call me at 510-482-4420 ext.#223.
Thank you for your attention on this matter.
Terry O'Sullivan
* For computers, the program only enables ENERGY STAR sleep settings for the
computer monitor; this avoids the conflicts with local area networks that
have been a concern to some IT staff.
Terry O'Sullivan
Energy Solutions
[email protected]
(510) 482-4420 ext.#223 (voice)
(510) 482-4421 (fax)
- EZ_Star_Flyer_4.19.pdf
- Program_1=19.pdf
- EZSTAR2.doc |
Thanks for the note. Good work. If I am in Mumbai for a full day on Friday,
4 August, is that sufficient? thanks mcs
Jane Wilson@ENRON_DEVELOPMENT
26/07/2000 18:40
To: Mark Schroeder@ECT, Wade Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Comments to MoP
Worked the Ministry of Power yesterday with Sanjay and had my own meeting
with the Junior Secretary who is in charge of the Electricity Bill effort.
He invited me back. Found out from him that there are TWO drafts of the
Electricity Bill -- the Ministry of Power began drafting its own draft around
draft IV of the circulated draft and has picked and chosen from the
circulated draft (that's interesting!) The MoP draft is with the Cabinet
soon to be introduced to Parliament. The real law that is introduced to the
Parliament will be released to the public once it leaves to Cabinet for the
Parliament. We will have a chance to lobby and explain to the Standing
Committee out positions, i.e., the whole input process starts all over
again. Meanwhile, the three individuals with whom we met yesterday (various
secretaries) requested our direct input again (there is obviously still time
for the Ministry to revise its draft). Thus, I've tried to rearticulate the
critical elements that must be in the bill to constitute legitimate reform
and point out how crazy the World Bank's emphasis on forming regulators and
accounting unbundling is if unrelated to full reform in the note attached
below.
Actually made most of Amcham's presentation to the DOE mission in India. The
presentation that was handed out to them is attached below. Once you've
opened the presentation, go to slide show, custom, and see the slides from
which I spoke (I took the substantive ones). The important slide in both the
custom show and the handout is the last one which is DOE Action items. They
told us that this was exactly the kind of briefing they needed. Sanjay's
happy, I'm happy, hope you're happy.
Please note that there are EOG slides included with regulatory concerns of
the upstream E&P sector. Of note is that I worked with Larry Morse of EOG
and accompanied him to the Ministry of Petroleum and Natural Gas (MoP&NG) on
Saturday to directly give input into the Ministry Working Group on forming a
regulator in the O&G sector. Our scheduled 15 minutes (they were moving
private parties through a New York musical tryout) turned into 30 minutes and
a request for a written document. I came up with a new idea of EOG to make
their life easier and the Ministry was interested: the Director General of
Hydrocarbons is the "regulatory agency" that is interfering in more than
regulating the Production Sharing Contracts (PSCs). I suggested to Larry
(who loved it) and the Ministry that the current functions of DGH be divided
into three separate things: the normal regulatory function (permitting,
environmental, safety and information management) that should devolve on DGH,
a facilitator role assigned to the MoP&NG (provided in the law or regs
somewhere -- this is essentially a government person to help private parties
knock down barriers), and a Contract Adminsitrator, meaning a representative
of the Government of India to sit on the joint venture's Management
Committee. I suggested perhaps a retired ONGC executive. This may
ameliorate the DGH's tendency to build a file and obstruct any spending
whatsoever in the misguided belief that profits will be greater for GOI in
the future. I'd like to take this opportunity to record all our joint MoP&NG
issues both upstream and LNG into one document. Then it can become our joint
platform paper to lobby from, do presentations from, etc. Need to rest a
day, however before that effort starts.
Cheers. Hope to return to Mumbai tonight. I've overstayed in Delhi by two
days. Sanjay mentioned that he now thinks that I will spend 50% of my time
here.
---------------------- Forwarded by Jane Wilson/ENRON_DEVELOPMENT on
07/26/2000 12:20 PM ---------------------------
Jane Wilson
07/26/2000 12:16 PM
To: K Seethayya/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Ashok
Mehta/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Wade
Cline/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Neil
McGregor/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Akshay
Singh/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Amr
Ibrahim/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sisir K
Podder/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Katwala/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Kraske/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bobby
Farris/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jimmy
Mogal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mohan
Gurunath/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandeep
Kohli/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Beena
Pradhan/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Comments to MoP
Attached are the comments requested by several people during our visits to
the Ministry yesterday. I have removed any discussion of PTC or Powergrid at
this time. However, we need to look for opportunities to make our point that
a government marketing company is a contradiction in terms, particularly
about PTC, at the appropriate time. Please hand deliver a copy of our
comments to S L Rao. Perhaps Beena could have a courtesy copy delivered to
Mr. Subramanyam. I assume that you will put an appropriate transmittal
letter on top of the comments for delivery to the Ministry today. Thanks. |
-----Original Message-----
From: Bestard, Jose
Sent: Sun 8/26/2001 8:33 PM
To: Cuiaba LT@ENRON
Cc: Reis, Jose Lucio; Jens, Felipe; ESA Excom@ENRON; Anson, Jose; Domingues, Adriana; Miceli, Keith; [email protected]
Subject: Cuiaba - Incident GT11
See the two messages below. Last Saturday afternoon, when GT 11 was being taken off-line after what appeared as a very successful gas commissioning run, it encountered an abnormal response. They opened the Turbine today an showed severe damage. We do not know how long it may be out of service but it may be approximately three months.
The incident occurred while the turbine was under Siemens custody during a commissioning event.
John Guidry will be discussing the Technology Assurance Agreement with Cliff Rankin to understand how it applies to the particular circunstances.
John Guidy will alert Dick Vincent to get our insurance personnel involved and perform our own investigation.
Orlando Gonzalez has a 9:00 AM meeting with Parente tomorrow about other issues, we will take the opportunity to inform him.
This is a significant event for the Lender's conference that we have scheduled Tuesday. The insurance protection question will be very pertinent.
I will communicate with Furnas management and the Ministry of Mines and Energy. I am sure that during the course of the day there will be more questions, including the press. We will discuss this tomorrow.
Caution. We need to be factual in our communications. There will be a human temptation to assign blame to someone (Siemens). We know what happened, we need to know why it happened, to determine what was the root-cause of the failure and how it may be avoided, and this may take weeks to determine, or never precisely determined.
From a PPA perspective, the Aditivo 4 that we just executed can cover the situation. The average output derived from GT 11, drops to zero, the availability factor for this output will be considered 100% for future calculations. We will loose the revenue. Furnas will have market exposure for this parcel, which is very significant. The consultations we are having with Aneel to provide Furnas a pass-through vehicle, for regulatory changes during the Initial Contracts, if implemented can reduce the Furnas exposure.
Jose
---------------------- Forwarded by Jose Bestard/ENRON_DEVELOPMENT on 08/26/2001 06:58 PM ---------------------------
Tony Apps
08/26/2001 08:25 AM
To: Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jose Bestard
cc: Carlos Alberto Lopez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Petrus Rosa/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Guidry, John Krupski/Enron@EnronXGate, [email protected]
Subject: Incident GT11
Laine
Further to the good news of completing the commissioning on gas of GT11 last evening, during the shut down on completion of engine commissioning on gas a serious incident occurred with GT11.
The machine was automatically being shut down via the SGC (sub group contol) when the load was at approximately 13MW the unit tripped.
The initial trip was for gt surge protection, however many alarms were present and the sequence of events is currently being investigated to determine the exact cause.
Sufficient to say we are not sure if infact a compressor surge occurred but there was certainly a loud noise.
The machine has sustained mechanical damage to some components, Jacking oil line has broken, bearing vibration probes on the GT compressor bearing are damaged, as are bearing oil seals.
The engine in addition could not be put on turning gear and the rotor is stationary.
The rub that has occured as a result of the incident is sufficient to prevent the machine being put on turning gear.
Until the machine has cooled down and a thorough inspection has been made we will not know the extent of any internal damage, if any.
Sufficient to say that we will need to carry out the above inspections in addition to the combustion chamber inspection, already programmed for 9 days from Sunday.
The length of time the unit will be out will obviously depend on the extent of damage, but a rough guess will be say 2 weeks to undertake and rectify any damage to bearings and maybe a rebalance, if however there is internal damage this could mean the rotor out which could be, say 2 months, if parts are available.
We will not know until monday afternoon at the earliest, possibly tuesday exactly what the situation is.
The decision to be made will be do we continue running GT12 on oil for potentially a minimum of 2 -3 more weeks minimum, potentially months, or take the decision to stop now and get the machine available on gas a quickly as possible? This decision can only be made when we have the full information on the extent of the damage.
Another issue will be that of responsibility for the costs to rectify the above, the machine is not covered by warranty but was under Siemens care custody and control for the commissioning process.
Tony
---------------------- Forwarded by Jose Bestard/ENRON_DEVELOPMENT on 08/26/2001 06:58 PM ---------------------------
Tony Apps
08/26/2001 02:01 PM
To: Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jose Bestard
cc: John Guidry, Petrus Rosa/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Carlos Alberto Lopez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Krupski/Enron@EnronXGate, Richard Vincent/Enron@EnronXGate
Subject: Gt11 Incident update
Bad news guys
Today at 16:00hrs we opened the transition duct door of GT 11 Hrsg, the whole area between the GT outlet and the duct burners is littered with debris.
Upon initial inspection there has been a catastrophic failure within the Turbine.
Visable is severe damage to row 3 and 4 vanes and blades.
This will necesitate a complete machine strip down and failure evaluation.
I guess minimum 2-3 months out of service subject to spare parts availability.
The major decision to be made is whether to proceed with commissioning of unit 12 on gas or continue to run on oil.
I will be home this evening please call if necessary.
Tony |
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 |
---------------------- Forwarded by Chris Abel/HOU/ECT on 01/28/2000 08:43 AM
---------------------------
Chris Abel <[email protected]> on 01/19/2000 11:46:57 AM
To: Chris Abel/HOU/ECT@ECT
cc:
Subject: FW: [Fwd: Things I'm Glad I Didn't Say]
-----Original Message-----
From: [email protected] [SMTP:[email protected]]
Sent: Saturday, January 22, 2000 6:19 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]
Subject: Fwd: [Fwd: Things I'm Glad I Didn't Say]
In a message dated 01/21/2000 5:46:48 PM Central Standard Time,
[email protected] writes:
<< :
Subject: [Fwd: Things I'm Glad I Didn't Say]
1. Question: If you could live forever, would you and why?
Answer: "I would not live forever, because we should not live
forever, because if we were supposed to live forever, then we would live
forever, but we cannot live forever, which is why I would not live
forever."
---Miss Alabama in the 1994 Miss USA contest
2. "Whenever I watch TV and see those poor starving kids all over the
world, I can't help but cry. I mean I'd love to be skinny like that but
not
with all those flies and death and stuff."
---Mariah Carey
3. "Researchers have discovered that chocolate produces some of the
same
reactions in the brain as marijuana. The researchers also discovered
other
similarities between the two, but can't remember what they are."
---Matt Lauer on NBC's Today Show, August 22
4. "I haven't committed a crime. What I did was fail to comply with the
law."
---David Dinkins, New York City Mayor,
answering accusations that he failed to pay his taxes.
5. "Smoking kills. If you're killed, you've lost a very important part of
your
life."
---Brooke Shields, during an interview to become spokesperson for a
federal antismoking campaign.
6. "I've never had major knee surgery on any other part of my body."
---Winston Bennett, Univ. of KY basketball forward
7. "Outside of the killings, Washington has one of the lowest crime rates in
the country."
---Mayor Marion Barry, Washington, DC
8. "We're going to turn this team around 360 degrees."
---Jason Kidd, upon his drafting to the Dallas Mavericks
9. "I'm not going to have some reporters pawing through our papers.
We
are the president."
---Hillary Clinton commenting on the release of subpoenaed documents.
10. "China is a big country, inhabited by many Chinese."
---Former French President Charles De Gaulle
11. "That lowdown scoundrel deserves to be kicked to death by a jackass, and
I'm just the one to do it."
---A Congressional Candidate in Texas
12. "It isn't pollution that's harming the environment. It's the
impurities in our air and water that are doing it."
---Former U. S. Vice-president Dan Quayle
13. "Without censorship, things can get terribly confused in the public
mind."
---General William Westmoreland
And last but not least-a parting word from Dan Quayle:
14. "I love California. I practically grew up in Phoenix."
>>
From: "[email protected]" <[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]>
To: "[email protected]" <[email protected]>, "[email protected]"
<[email protected]>, "[email protected]" <[email protected]>
Subject: [Fwd: Things I'm Glad I Didn't Say]
Date: Fri, 21 Jan 2000 17:45:55 -0600
MIME-Version: 1.0
Content-Type: text/plain; charset="us-ascii"
Content-Transfer-Encoding: 7bit
---------------------- Forwarded by on 01/21/2000 05:44 PM
---------------------------
Doug Sihvonen
01/21/2000 07:37 AM
To:
cc:
Subject: [Fwd: Things I'm Glad I Didn't Say]
1. Question: If you could live forever, would you and why?
Answer: "I would not live forever, because we should not live
forever, because if we were supposed to live forever, then we would live
forever, but we cannot live forever, which is why I would not live
forever."
---Miss Alabama in the 1994 Miss USA contest
2. "Whenever I watch TV and see those poor starving kids all over the
world, I can't help but cry. I mean I'd love to be skinny like that but
not
with all those flies and death and stuff."
---Mariah Carey
3. "Researchers have discovered that chocolate produces some of the
same
reactions in the brain as marijuana. The researchers also discovered
other
similarities between the two, but can't remember what they are."
---Matt Lauer on NBC's Today Show, August 22
4. "I haven't committed a crime. What I did was fail to comply with
the
law."
---David Dinkins, New York City Mayor,
answering accusations that he failed to pay his taxes.
5. "Smoking kills. If you're killed, you've lost a very important part
of
your life."
---Brooke Shields, during an interview to become spokesperson
for
a federal anti-smoking campaign.
6. "I've never had major knee surgery on any other part of my body."
---Winston Bennett, Univ. of KY basketball forward
7. "Outside of the killings, Washington has one of the lowest crime
rates
in the country."
---Mayor Marion Barry, Washington, DC
8. "We're going to turn this team around 360 degrees."
---Jason Kidd, upon his drafting to the Dallas Mavericks
9. "I'm not going to have some reporters pawing through our papers.
We
are the president."
---Hillary Clinton commenting on the release of subpoenaed
documents.
10. "China is a big country, inhabited by many Chinese."
---Former French President Charles De Gaulle
11. "That lowdown scoundrel deserves to be kicked to death by a
jackass,
and I'm just the one to do it."
---A Congressional Candidate in Texas
12. "It isn't pollution that's harming the environment. It's the
impurities in our air and water that are doing it."
---Former U. S. Vice-President Dan Quayle
13. "Without censorship, things can get terribly confused in the public
mind."
---General William Westmoreland
And last but not least -- a parting word from
Dan Quayle:
14. "I love California. I practically grew up in Phoenix." |
Your review and approval of the following product types in the EOL
Datamanager is needed (for directions on approval , please see steps for
approval at the bottom of this e-mail). If you have any questions please call
me at ext. 58986.
******** DO NOT APPROVE PRODUCT TYPES BETWEEN THE HOURS OF 6AM -
11AM***********
Traders: Harry Arora and Robert Stalford
Product
Names: US East Power Phy Option Call (2077)
US East Power Phy Option Put (2078)
US Pwr Phy Opt PJM-W EPXXX Jul01 USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the Put
Option Buyer has the right, but not the obligation, to elect on the Exercise
Date to schedule and deliver, and the Put Option Seller would have the
obligation to schedule, receive and pay for at the Strike Price, a quantity
of firm energy equal to the Hourly Quantity for each applicable hour during
the term of the transaction. The Strike Price shall be as set forth in the
Product description on the Website. As consideration for this right, the Put
Option Buyer shall be required to pay to the Put Option Seller the Premium
which shall be equal to the product of (i) the price submitted by
Counterparty via EnronOnline, multiplied by (ii) the total number of hours
during the term of the transaction, multiplied by (iii) the Hourly Quantity.
The Payment Date for the Premium shall be within two (2) business days of the
Transaction Date. The Option style and type shall be a monthly European Put
("EP").
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31
Jul 2001.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency. The unit of measure against which the price is quoted
shall be megawatt-hours (MWh) and the quantity shown shall be in MW's
delivered in each applicable hour for the duration of the Transaction (the
"Hourly Quantity').
In order to exercise the Option, the Option Buyer shall provide telephonic
notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on
the Exercise Date. The Exercise Date shall be the second penultimate NERC
business day of the month prior to the month in which the term commences.
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.
US Pwr Phy Opt PJM-W ECXXX Jul01 USD/MWh
A US Power Transaction with Enron Power Marketing, Inc., under which the Call
Option Buyer has the right, but not the obligation, to elect on the Exercise
Date to schedule, receive and pay for at the Strike Price, and the Call
Option Seller would have the obligation to schedule and deliver, a quantity
of firm energy equal to the Hourly Quantity for each applicable hour during
the term of the transaction. The Strike Price shall be as set forth in the
Product description on the Website. As consideration for this right, the Call
Option Buyer shall be required to pay to the Call Option Seller the Premium
which shall be equal to the product of (i) the price submitted by
Counterparty via EnronOnline, multiplied by (ii) the total number of hours
during the term of the transaction, multiplied by (iii) the Hourly Quantity.
The Payment Date for the Premium shall be within two (2) business days of the
Transaction Date. The Option style and type shall be a monthly European Call
("EC").
The transaction is for the applicable hours as set forth herein on each
Delivery Day for the Effective Date 01 Jul 2001 to the Termination Date 31
Jul 2001.
The transaction is for delivery or receipt of energy at the PJM Western Hub.
The price is quoted in US Dollars per unit of volume, which will be the
Contractual Currency. The unit of measure against which the price is quoted
shall be megawatt-hours (MWh) and the quantity shown shall be in MW's
delivered in each applicable hour for the duration of the Transaction (the
"Hourly Quantity').
In order to exercise the Option, the Option Buyer shall provide telephonic
notice to the Option Seller prior to 10:00 am (Eastern Prevailing Time) on
the Exercise Date. The Exercise Date shall be the second penultimate NERC
business day of the month prior to the month in which the term commences.
The transaction is for on-peak ("Peak") hours on each Delivery Day beginning
with the hour ending 0800 (7:00 am) and concluding with the hour ending 2300
(11:00 pm) Eastern Prevailing Time. "Delivery Day" means a day during the
term of the transaction that is a Monday, Tuesday, Wednesday, Thursday, or
Friday, excluding any day that is a NERC holiday.
==============================================================================
STEPS FOR APPROVAL:
click the START button
select PROGRAMS
select TEST APPLICATIONS
select ENRONONLINE CLUSTER(PROD)
PROCEED WITH USUAL LOGIN/PASSWORD
click the Enron Online Production Cluster "START" button
select EnronOnLine (this is the EOL Datamanager)
PROCEED WITH EOL LOGIN/PASSWORD
click on the "+" for EnronOnLine
click on the "+" for Product Types
click on the "+" for "Partially Approved"
select the product requiring review as stated in e-mail above
Right "mouse" click on "properties" to view product set-up |
Got invite to Gray's mtg. through Washington lobbyist of ours who has
connections w/ Gray. Steve Kean is attending,
From: Jeff Dasovich on 11/21/2000 07:06 PM
Sent by: Jeff Dasovich
To: David Parquet/SF/ECT@ECT
cc: James D Steffes/NA/Enron@ENRON, Mona L Petrochko/NA/Enron@ENRON, Steven J
Kean/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON, Richard
Shapiro/NA/Enron@Enron, Sandra McCubbin/NA/Enron@Enron
Subject: Re: Press Conference
Agree that we should decline to participate. I also got a call from IEP
regarding the press conference and strongly encouraged them to signicantly
diversify the group to include customers, consumer groups, and the like.
Haven't heard about the meeting on the first with the governor's staff.
Interesting that the administration is choosing to meet with folks on the day
that the report is released. For the same reasons that we wouldn't want to
be grouped with generators at a press conference, we may not want to be
grouped with generators when the staff disseminates the report's words of
wisdom.
David Parquet@ECT
11/21/2000 06:50 PM
To: Jeff Dasovich/NA/Enron@Enron, Mona L Petrochko/NA/Enron@Enron, Steven J
Kean/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, James D
Steffes/NA/Enron@Enron
cc:
Subject: Press Conference
Two things:
1. I called Smutney last week re this press conference and declined. I said
that the idea is fine and we support it, but Enron does not want to
participate in a press conference with other generators on this topic.
2. I just talked to Rob Lamkin of Southern who indicated that ten companies
have gotten letters from Gov Davis addressed to "Dear CEO of Energy
Company." Letter was to invite these companies to attend a meeting on
Monday, December 1 in LA. Agenda and issues to follow, but Rob thought it
had to do with the Gov's plan for CA due 12/1. Meeting will not be with
Davis, but with his staff. Southern is deciding who to send. Reliant will
send John Stout and Curtis Keebler. Williams got a letter, but no info re
their rep. Rob was calling to see if we got a letter and, if we did, out
thoughts re meeting before the Gov's meeting to discuss. I said we could
have gotten a letter, but I did not know.
----- Forwarded by David Parquet/SF/ECT on 11/21/2000 04:38 PM -----
"Katie Kaplan" <[email protected]>
11/21/2000 04:07 PM
Please respond to kaplan
To: <[email protected]>, <[email protected]>, "'John Stout for
Reliant'" <[email protected]>, "'Curtis Keebler at Reliant'"
<[email protected]>, "'Julie @ Edson'" <[email protected]>,
"'Paula Hall-Collins'" <[email protected]>, "'Marty Wilson'"
<[email protected]>, "'Rob Lamkin'" <[email protected]>, "Karen
Edson" <[email protected]>, "Bob Weisenmiller" <[email protected]>, "Sue Mara"
<[email protected]>, "Andy Brown" <[email protected]>, "B Brown Andy"
<[email protected]>, "Bob Escalante" <[email protected]>, "Greg
Blue" <[email protected]>, "Jack Pigott" <[email protected]>, "Jan
Smutny-Jones" <[email protected]>, "Joe Ronan" <[email protected]>, "Karen
Denne" <[email protected]>, "Karen Edson" <[email protected]>, "Kassandra Gough"
<[email protected]>, "Kristin Vellandi" <[email protected]>, "Lynn
Lednicky" <[email protected]>, "McNally Ray" <[email protected]>,
"Paula Hall-Collins" <[email protected]>, "Richard Hyde"
<[email protected]>, "Rob L. Lamkin" <[email protected]>,
"Stephanie-Newell" <[email protected]>, "Tom Ross"
<[email protected]>, "William Hall" <[email protected]>, "Trond
Aschehoug" <[email protected]>, "Tony Wetzel"
<[email protected]>, "Susan J Mara" <[email protected]>, "Steve
Ponder" <[email protected]>, "Steve Iliff" <[email protected]>,
"Scott Noll" <[email protected]>, "Roger Pelote"
<[email protected]>, "Rob Lamkin" <[email protected]>, "Randy
Hickok" <[email protected]>, "Paula Soos"
<[email protected]>, "Marty McFadden"
<[email protected]>, "Lynn Lednicky" <[email protected]>, "Kent
Fickett" <[email protected]>, "Ken Hoffman" <[email protected]>,
"Jonathan Weisgall" <[email protected]>, "Joe Ronan" <[email protected]>, "Joe
Greco" <[email protected]>, "Jim Willey" <[email protected]>, "Jeff
Dasovich" <[email protected]>, "Jack Pigott" <[email protected]>, "Hap Boyd"
<[email protected]>, "Greg Blue" <[email protected]>, "Frank DeRosa"
<[email protected]>, "Eileen Koch" <[email protected]>, "Ed Tomeo"
<[email protected]>, "Duane Nelsen" <[email protected]>, "Dean
Gosselin" <[email protected]>, "Dave Parquet" <[email protected]>,
"Curtis Kebler" <[email protected]>, "Curt Hatton"
<[email protected]>, "Cody Carter" <[email protected]>, "Carolyn
Baker" <[email protected]>, "Bob Escalante"
<[email protected]>, "Bill Woods" <[email protected]>, "Bill
Carlson" <[email protected]>, "Eric Eisenman" <[email protected]>
cc: "Jan Smutny-Jones" <[email protected]>, "Steven Kelly" <[email protected]>,
"Susan McCabe" <[email protected]>, "Scott Govenar"
<[email protected]>, "Ron Tom" <[email protected]>, "Robert Ross"
<[email protected]>, "Phil Isenberg" <[email protected]>, "Mike Monagan"
<[email protected]>, "Maureen OHaren" <[email protected]>, "Marie Moretti"
<[email protected]>, "Kassandra Gough" <[email protected]>, "Hedy
Govenar" <[email protected]>, "Delany Hunter" <[email protected]>,
"Bev Hansen" <[email protected]>, "Anne Kelly" <[email protected]>, "Jenn
Paulsen" <[email protected]>, "Jamie Parker" <[email protected]>
Subject: Press Conference
Greetings:
IEP will be holding a press conference on Tuesday November 28 at 10:30 a.m.
in the Governors Press room to discuss the importance of long-term fixed
(that term is easier to understand than bilateral) contracts.
IEP will be stressing the importance of the contracts as part of the
solution for next summer. Several IEP members have offered (and have
continued to offer) long-term fixed contracts at terms under the current
retail rate freeze. We will indicate that the utilities have been hesitant
to enter into these contracts due to the uncertain nature of the CPUC. We
will point out that several different independent entities have agreed that
long-term contracts are one of the key solutions and that the PUC should act
immediately to set a benchmark and in so doing eliminate the reasonableness
review that is the main barrier for IOU's not entering into large long-term
fixed contracts.
IEP is also currently working to include other market participants in the
Press Conference.
We would like as many IEP participants as possible at the conference to show
that there are several companies who continue to be serious about long-term
fixed price contracts. We have already received a couple of responses and if
you are interested please let me know ASAP-no later than noon Wednesday- as
we are sending out an advisory on Monday.
Thank you for your attention to this matter.
Katie Kaplan
Manager of State Policy Affairs
Independent Energy Producers Association
(916) 448-9499 |
Subsets and Splits