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I believe this was intended for the other Susan Scott...I'm with Nat Gas trading.
Thanks
-----Original Message-----
From: Nicolay, Christi
Sent: Monday, April 30, 2001 10:55 AM
To: Scott, Susan
Subject: WEST DESKS--FERC authorizes power marketers to purchase from industrials (and more)
---------------------- Forwarded by Christi L Nicolay/HOU/ECT on 04/30/2001 10:54 AM ---------------------------
From: Christi L Nicolay 04/27/2001 11:01 AM
To: Chris Lackey/PDX/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT, Don Black/HOU/EES@EES, Jeff Golden/HOU/EES@EES, Marc Pana/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Ray Alvarez/NA/Enron@ENRON, Susan J Mara/NA/Enron@ENRON, Steve Walton/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Joe Hartsoe/Corp/Enron@ENRON, Donna Fulton/Corp/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Jeff Brown/NA/Enron@Enron, Sheila Tweed/HOU/ECT@ECT, Christian Yoder/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, James E Keller/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Ozzie Pagan/Enron@EnronXGate, Leslie Lawner/NA/Enron@Enron, Joy Werner/Corp/Enron@ENRON, Karen A Cordova/HOU/EES@EES, Robert Frank/NA/Enron@Enron, Janet R Dietrich/HOU/EES@EES, Harry Kingerski/NA/Enron@Enron
cc:
Subject: WEST DESKS--FERC authorizes power marketers to purchase from industrials (and more)
On March 14, 01, FERC issued an "Order removing obstacles to increased electric generation and gas supply in the West.." (Docket No. EL01-47).
Most significantly, FERC authorizes industrials in WSCC to sell power to licensed power marketers (like EPMI and EES) effective 3/14/01 through 12/31/01. The industrial does not have to obtain its own power marketer license from FERC (subject to EPMI and EES making filings for the industrials). (This is similar to the authorization that EPMI and EES requested nationwide earlier this year -- we should hear from FERC on that request by mid-May.)
In addition, FERC authorizes DSM sales at wholesale at market based rates.
Specifics:
Owners of generating facilities located at business locations in the WSCC and used primarily for back-up for self-generation (who will be "public utilities" subject to the Federal Power Act only while they sell at wholesale) can sell power at wholesale from such facilities to non-affiliated entities (like EPMI or EES) without prior notice under section 205 of FPA (would usually require 60 day advance notice filing).
-- Waives certain parts of the filing requirements for the industrial; however, the industrial will still be subject to shortened filing requirements for dispositions of facilities and interlocking positions while they are selling at wholesale.
-- EPMI and EES will make the FERC quarterly filings on behalf of the industrials for any of these purchases. Our report must show the names of the industrial; aggregate amount of capacity and/or energy purchased from each seller; and the aggregate compensation paid to each seller. Accounting/commercial folks for EPMI and EES-- please make sure these purchases are flagged in the accounting system, since the report will be separate from our big quarterly reports.
-- This does not authorize the retail industrial customer to violate any rules or tariffs of its host utility. This does not authorize an industrial to resell power it purchases (only can sell what it generates); unless otherwise allowed (or not precluded) by its retail tariff -- must file a rate schedule at FERC for this, but FERC will be receptive to granting waivers and authorizations.
-- This authorization expires after 12/31/01.
Effective 3/14/01 through 12/31/01, retail customers in WSCC, as permitted by state laws and regulations, and wholesale customers are authorized to reduce consumption for the purpose of reselling their load reduction at wholesale at market-based rates. These transactions can occur in several ways: An aggregator can line up retail load to acquire enough negawatts to resell in a manner similar to what aggregators do when they sell power to retail load under retail choice programs. In addition, wholesale and retail load with contract demand service could resell their contract demands if the value of power is greater than the value of consumption. Similar quarterly reports would be due by EPMI/EES.
NOTE: the industrial still has to obtain the interconnection agreement with transmission provider (may need new interconnection facilities, etc.)
Remember that you still need to get transmission on OASIS when the power is wheeled away from the industrial.
Other initiatives in the order:
Utilities are encouraged to make DSM arrangements with wholesale customers. FERC waives the prior notice requirement for amended contracts that are required to be filed at FERC.
Clarifies that DSM should be treated consistenly with all other types of incremental and out-of-pocket costs for utilities.
Reminds transmission providers to keep ATCs current, including CBM and TRM.
Provides incentive rates for new transmission projects that can be in service by July 1 (and to a lesser extent -- by November 1 of 01 and 02).
Considers "rolled in" rates for generation interconnection (rather than direct assignment that we have now.)
Extends temporary waivers through 12/31/01 of operating and efficiency standards for QFs. Allows QF to sell output above historical supply though a negotiated bilateral agreement at market based rates, if sold in California and the WSCC.
FERC will review interconnection issues that impede generation from reaching load (ie, if a utility does not act within time limits on interconnection requests, etc.)
Provides for increased staff and quicker gas pipeline additions review.
Please let me know if you would like the order. Ray Alvarez (202-466-9170) and I (713-853-7007) can assist you with this. Thanks.
<Embedded Picture (Device Independent Bitmap)> |
sold! I'll initiate the call.
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 3:44 PM
To: [email protected]
Cc: Vince J Kaminski
Subject: RE: Pre-meeting Weathereffects site cruise
Ed,
Thursday works for me. What about 10:30 my time?
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 02:43:00 PM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc:
Subject: RE: Pre-meeting Weathereffects site cruise
how about Thursday, July 6?
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 3:29 PM
To: [email protected]
Cc: Vince J Kaminski
Subject: RE: Pre-meeting Weathereffects site cruise
Ed,
A correction. I shall spend an entire day at PRC (performance review)
on Friday, July 7. Can we do on another day
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 12:40:59 PM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc:
Subject: RE: Pre-meeting Weathereffects site cruise
I'll still be here in Boston so we'd do it over the phone. OK?
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 12:11 PM
To: [email protected]
Cc: Vince J Kaminski
Subject: Re: Pre-meeting Weathereffects site cruise
Ed,
Will you be in Houston on that day or we shall do it over the phone?
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 09:13:04 AM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc: "Jeffrey Shorter \(E-mail\)" <[email protected]>
Subject: Pre-meeting Weathereffects site cruise
Vince,
How about a pre-meeting web site cruise on Friday, July 7 at 11AM EDT?
Ed
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Friday, June 30, 2000 9:52 AM
To: [email protected]
Cc: Vince J Kaminski
Subject: RE: Next visit to Houston
Ed,
July 12, 2:30 it is. I would like the pre-meeting site cruise.
How can we arrange it?
Vince
"Edward Krapels" <[email protected]> on 06/30/2000 04:00:53 AM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc: "Jeffrey Shorter \(E-mail\)" <[email protected]>
Subject: RE: Next visit to Houston
Vince,
We're all set for 2:30 on July 12. How about a pre-meeting web site cruise
on Friday, July 7 at 11AM EDT?
Ed
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Thursday, June 29, 2000 5:04 PM
To: [email protected]
Cc: Vince J Kaminski; Shirley Crenshaw
Subject: RE: Next visit to Houston
Ed,
Wednesday, July 12, 2:300 will work for me.
I shall be glad to review your website --
www.weathereffects.com. I shall invite some
people who work on electricity in
my group to join me.
Vince
"Edward Krapels" <[email protected]> on 06/29/2000 03:53:40 PM
Please respond to <[email protected]>
To: "'Vince J Kaminski'" <[email protected]>
cc: "Jeffrey Shorter \(E-mail\)" <[email protected]>
Subject: RE: Next visit to Houston
Vince,
Good to hear from you and I'm glad you're available. How is Wednesday at
2:30?
I did look at EOL and am not surprised to see its quality. I was unable to
say much about it in my Risk Electricity Hedging and Trading report because
of deadline pressures. How is the site doing? I am intrigued by the
competition for trading platforms and was astonished to hear that Goldman,
Morgan, BP and Shell were going to launch a site to compete with yours. Talk
about a shotgun marriage!
If we have time next week, I could step you through our website --
www.weathereffects.com. I'm very proud of what we've done. I can't give out
a password yet but would be happy to walk through the site with you over the
phone using my password. It's a very ambitious site -- with state-of-the-art
WSI weather (seasonal, 6-10, and day to day) driving a good load model for
PJM and NEPOOL. ESAI contributes oil and gas input price forecasts, capacity
judgments, and "herding" ideas to develop power price forecasts for same
time periods. After one month's full-bore effort, I'm pleased with the
results (e.g., we forecast Nepool onpeak to be $43 and it turned out $46).
Have a great weekend.
Ed
-----Original Message-----
From: Vince J Kaminski [mailto:[email protected]]
Sent: Wednesday, June 28, 2000 5:29 PM
To: [email protected]
Cc: Vince J Kaminski; Shirley Crenshaw
Subject: Re: Next visit to Houston
Ed,
I shall be available on both days. What about Wednesday,
July 12, between 1:30 and 4:00. Please, let me know
what time would work for you.
It will be nice to see you again.
Vince
P.S. By the way, did you have a chance to take a look at the EOL?
"Edward Krapels" <[email protected]> on 06/28/2000 02:49:41 PM
Please respond to [email protected]
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Next visit to Houston
Dear Vince,
I will be returning to Houston during the week of July 10.
ESAI and Weather Services International have launched -- after more than 18
months of R&D -- our service, called Energycast Power Trader and Energycast
Gas Trader, for power traders in Nepool and PJM. I would be happy to review
the service with you as well as take you on a tour of our web site. Are you
available on July 12 - 13?
Sincerely,
Ed Krapels |
State's Power Purchases Costlier Than Projected
Tab is $6 million a day over Davis' requests
Lynda Gledhill, Chronicle Sacramento Bureau
Friday, March 16, 2001
,2001 San Francisco Chronicle
Sacramento -- California has spent about $6 million more a day buying
electrical power than originally projected, according to a confidential
document obtained yesterday by The Chronicle.
State power buyers spent $2.7 billion between Jan. 17 and March 11, averaging
$49 million a day. That amounts to about $6 million a day more than lawmakers
figured using Gov. Gray Davis' appropriations requests.
The confidential document was prepared by the Department of Water Resources,
which purchases power on behalf of the state. It was handed to a group of
lawmakers in a subcommittee hearing Wednesday by Water Resources Director Tom
Hannigan.
To the public, the document presents the first day-by-day look at how much
California is spending on power purchases.
Although the document shows more money being spent than originally believed,
it didn't startle any of the handful of senators and Assembly members who saw
it.
"I don't think it was a surprise," said Assemblyman Dick Dickerson, R-
Redding.
Although the state is supposed to recoup the money spent on electricity,
analysts and lawmakers say the open spigot on the state's treasury could
jeopardize the state budget and fiscal well-being in the short and long term.
For example, the state's power spending could jeopardize new education
programs and transportation projects. The nonpartisan Legislative Analyst
warned last month that lawmakers shouldn't count on all the new projects in
Davis' proposed budget.
Also, California has already been placed on a watch list by several credit
rating firms, because of the deep debt that could be incurred in helping the
utilities become financially stable. The watch list typically precedes a
credit rating drop, which would cause the state's interest on bonds and loans
to rise.
"This (power purchasing) has a dampening effect," said Jean Ross, executive
director of the California Budget Project, an independent policy group that
tracks state spending. "Nobody knows where the economy is going, and how the
energy crisis will affect it, so no one will know what the revenues will look
like in the future."
The biggest day of power buying happened on Feb. 16 when the state spent
nearly $81 million for electricity, or $435 per megawatt hour. The smallest
day was March 10 when the state buyers spent $40 million, or $219 per
megawatt hour.
Michael Worm, an analyst with the investment firm Gerald Klauer Mattison &
Co., said what the state paid was in line with current energy prices.
"That's where energy prices more or less have been for quite some time," he
said. "Of course, they are dramatically higher than they used to be."
The governor's office has refused to release information on how much the
state has spent, said Steve Maviglio, Davis' spokesman. Maviglio said if
generators found out how much the state spent the day before, they could
force up the price the next day.
But Assemblyman Tony Strickland, R-Thousand Oaks, said the public had a right
to know how its money way being spent.
"People need to know exactly what it is costing to keep the lights on," he
said. "We want to know the whole story -- not just pieces."
Strickland, along with media organizations including The Chronicle, have
filed public records act requests to obtain information on how much the state
has spent, along with the details of long-term power contracts signed by
Davis.
The original bill that authorized the state to purchase power appropriated
only $500 million, but allowed the governor to use up to $10 billion if
needed for power purchases by notifying lawmakers. The governor's office has
sent five letters since Feb. 5 to lawmakers notifying them that additional
money was needed.
Based on these letters, which in total have requested an additional $2.5
billion, the news media and lawmakers estimated that the state was spending
$43 million a day -- $6 million less than the actual costs shown on the Water
Resources document.
Since the state began purchasing electricity, the health of its budget has
become dependent on a variety of things to come, making it as fragile as a
house of cards.
The money spent on power is taken from the state's general fund and is
supposed to be returned through the issuance of state bonds. The bonds will
be paid for with a portion of the rates that utility customers pay every
month.
-
Tell Us What You Think Can you save 20 percent on your energy usage? Gov.
Gray Davis is offering rebates for Californians who save on power starting in
June, and if you've got a strategy for conserving, The Chronicle wants to
hear it. Contact the Energy Desk, San Francisco Chronicle, 901 Mission St.,
San Francisco, CA 94103; or e- mail [email protected].
--
E-mail Lynda Gledhill at [email protected].
Paying for Power
These charts show what the state spent for electricity on the spot market and
the average price paid. For the time frame of Jan. 17 through Feb. 14, only
periodic totals and averages were given.
Period Amount spent
9 p.m. Jan. 17
through Jan. 18 $13,595,121
Jan. 19 - 29 399,000,000
Jan. 29 - 31 136,546,472
Feb. 1 - 12 495,755,000
Feb. 12 - 14 152,087,316
Chronicle Graphic
,2001 San Francisco Chronicle ? Page?A - 11 |
Notice No. 00-373
November 8, 2000
TO:
All NYMEX Division Members/Member Firms
All NYMEX Division Clearing Members
All NYMEX Division Floor Traders
All NYMEX Division Operations Managers
FROM: George Henderson, Vice President
RE: Options Expiration Operational Procedures for the Trading Floor and
Clearing Members
________________________________________________________________
The expiration date for the December 2000 options contract for Crude Oil
(LOZ0) is Tuesday, November 14, 2000.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 7:10 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:55 PM
Usual Event Time: 7:10 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:10 PM
Usual Event Time: 7:10 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:55 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 7:10 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:10 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&
refdoc=(00-373)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/03/2000
11:23 AM ---------------------------
From: Andrea R Guillen 01/19/2000 11:08 AM
Sent by: Andrea R Guillen
To: Maria Sandoval/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Elizabeth
Soto/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT,
Pamela Sonnier/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Rosa
Jaramillo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kori Loibl/HOU/ECT@ECT,
Cassandra S Dutton/HOU/ECT@ECT, Hannah Ortiz/HOU/ECT@ECT, Chantelle
Villanueva/HOU/ECT@ECT, Alisha Guerrero/HOU/ECT@ECT, Judy
Hernandez/HOU/ECT@ECT, [email protected]
cc:
Subject: FW: FW: For all my women friends(
---------------------- Forwarded by Andrea R Guillen/HOU/ECT on 01/19/2000
11:06 AM ---------------------------
Margaret Smith <[email protected]> on 01/19/2000 10:40:58 AM
To: "'Adam'" <[email protected]>, Andrea R Guillen/HOU/ECT@ECT, "'Bill'"
<[email protected]>, "'Charlene'" <[email protected]>, "'David C'"
<[email protected]>, "'Doug'" <[email protected]>, "'Glenn'"
<[email protected]>, "'Gloria'" <[email protected]>, "'Imo Gene'"
<[email protected]>, "'Laura'" <[email protected]>, "'Lisa'"
<[email protected]>, "'Mykel'" <[email protected]>, "'Olivia'"
<[email protected]>, "'Paula'" <[email protected]>, "'Ruth'"
<[email protected]>, "'Stephani'" <[email protected]>, April Leger
<[email protected]>, Dianna Bailey
<[email protected]>, Dayna Dryden
<[email protected]>, Janet Price
<[email protected]>, Beth Friend
<[email protected]>, Velma Birks
<[email protected]>, Vickie Tonn
<[email protected]>
cc:
Subject: FW: FW: For all my women friends(
> >> From a woman who works in a police department:
> >>
> >>
> >> I have to share some things I have learned in my job
> >> with you.
> >>
> >> In my job, I review criminal and psychiatric files of
> >> imprisoned sex offenders who are approaching their
> >> release date. I decide if they are likely to re-offend
> >> based on certain criteria and then civilly commit them
> >> to a sex offender treatment facility if I decide that
> >> they are at significant risk to re-offend
> >>
> >> I have read hundreds and hundreds of files, and have
> >> taken note of some of the mistakes women make. Let me
> >> preface this by saying that a woman is NEVER EVER EVER
> >> at fault for being raped or attacked, but there are
> >> definitely ways to reduce your risk of being a victim.
> >>
> >> Here are the most common mistakes women make that
> >> could result in them getting kidnapped, attacked,
> >> and/or raped:
> >>
> >> 1. Getting into the attacker's car when he pulls a
> >> gun and orders you to get into his vehicle.
> >>
> >> Most attackers don't want to shoot you ... they want
> >> you to get into the car so that they can drive you to
> >> a deserted place and torture you. Don't comply. Run
> >> screaming. It is MUCH more likely than not that he
> >> will just move on to an easier target.
> >>
> >> 2. Pulling over when a man drives alongside of you
> >> pointing at your car pretending something is wrong.
> >>
> >> If this happens, drive to the nearest well-lit and
> >> populated gas station and look the car over yourself
> >> (or ask an attendant). Never pull over. Believe it
> >> or not, many women have fallen for this for fear of
> >> their car spontaneously exploding in the middle of the
> >> road. Not likely.
> >>
> >> 3. Not locking your doors while driving.
> >>
> >> I have read several cases where the attacker simply
> >> walks up to a woman's car while she's at a traffic
> >> light and jumps in with his gun or knife drawn.
> >>
> >> 4. Opening your front door when you have not
> >> positively identified who is there.
> >>
> >> If you don't have a peep hole, get one. I've seen
> >> countless cases where the attacker gains access to his
> >> victims simply by knocking on their door.
> >>
> >> Don't let an attacker get into your home. He then has
> >> a private, relatively soundproof place to attack you.
> >>
> >> 5. Not being alert in parking lots.
> >>
> >> If you go to the grocery store at night, don't be shy
> >> about asking for an escort to your car. Too many
> >> women are abducted from parking lots or even raped in
> >> the parking lot.
> >>
> >> Look in your back seat before entering your car. Cars
> >> provide endless hiding places for attackers, both
> >> inside them and in between them.
> >>
> >> Be aware of your surroundings by looking to the left
> >> and right and behind you with your head up all the
> >> time. You may appear paranoid and look funny to
> >> others, but an attacker will think twice about
> >> approaching someone who appears so aware of what's
> >> going on.
> >>
> >> 6. Trusting a clean cut, honest looking stranger.
> >>
> >> I see mug shots of every sex offender in the state of
> >> Florida. They do not look like monsters. They often
> >> look like they could be your friendly grocer, bank
> >> teller, waiter, neighbor, clergy, doctor, etc. They
> >> are every age between 15 and 90, and probably beyond.
> >> Only a small minority actually look scary.
> >>
> >> I just read a case yesterday of a man with only one
> >> leg who beat up his victim with his crutch before he
> >> raped her. Who would have ever thought that a
> >> one-legged man could be a rapist?
> >>
> >> 7. Trusting people to be alone with your children.
> >>
> >> This is a difficult one, because child molesters end
> >> up being the LAST person the parents would believe is
> >> the molester.
> >>
> >> Most of the child molesting cases I see involve the
> >> stepfather, the uncle, the sister's boyfriend, the
> >> mother's boyfriend, the grandfather, the baby-sitter,
> >> the neighbor, the family friend, the youth camp
> >> director, day care worker, etc. Although rare, even
> >> women can be molesters.
> >>
> >> In every case, the perpetrator is a nice guy,
> >> trusting, good with children, and the family is
> >> baffled or even in disbelief that the person could be
> >> abusing their child.
> >>
> >> When it comes to your children and grandchildren, be
> >> suspicious of everyone, no matter who they are. And
> >> pay attention to what your child says and how he/she
> >> reacts to the mention of different people in their
> >> lives.
> >>
> >> I didn't mean to make anyone uncomfortable with this,
> >> but I am at work right now reviewing files, and
> >> realized that this email is a way I can reach many
> >> women at one time. I have the dirty job of reading
> >> all these files, and it makes me feel good to know
> >> that I can share some inferences from what I have
> >> learned. This is not an exhaustive list of what not
> >> to do, but just some things that I have observed more
> >> than just a few times.
> >>
> >> Pass this on to the women in your lives
> >
> >
> >
> >
> >
> >
> >
> > |
Dear Mark:
I refer to you e-mail of March 3 sent to my partner, Paul Davis. I am in
charge
of our Information Technology/E-Commerce Dept. Please accept my apology for
not
having responded earlier.
Please see our comments below.
Should you have any questions, please let us know.
Best regards,
Yasuyoshi Goto
> -----Original Message-----
> From: Mark Taylor [mailto:[email protected]]
> Sent: Friday, March 03, 2000 9:17 AM
> To: [email protected]
> Cc: Alan Aronowitz
> Subject: EnronOnline in Japan
>
>
>
>
> Dear Paul:
>
> I believe Alan Aronowitz and Mark Haedicke of our office met
> with you a week or
> so ago and mentioned that we would need advice from you
> regarding the use of our
> internet trading website with customers in Japan. Below is a
> list of initial
> questions regarding which we would be grateful for the
> benefit of your advice.
> For your background information as you consider these
> questions, be advised that
> counterparties must sign a written "Password Application"
> which provides that
> the counterparty intends to be bound by agreements entered
> into by "clicking" in
> the appropriate spaces on the website. Please feel free to
> contact me with any
> questions you may have. I can be reached either by e-mail at
> [email protected] or by telephone at (713)853-7459.
>
> 1. Have relevant regulators in your jurisdiction made any
> statements regarding
> marketing of or dealing in any of the following types of
> products through the
> internet or other electronic systems:
>
> Commodity transactions relating to oil, gas, electricity
> or other energy
> commodities, whether derivative
> transactions (cash settled) or physically settled.
> Financial derivatives - i.e. interest rate, foreign
> exchange or credit
> derivatives.
> Weather derivatives.
> If so, please could you provide us with a brief summary.
Our research has revealed no statements of regulators in Japan in connection
with the marketing or dealing in the above types of products through the
internet or other electronic systems from publicly available source. We will
let you know if we find any previous or future statements.
>
> 2. Do any specific laws or regulations exist in your
> jurisdiction which would
> prevent or in any way impact upon marketing or trading of any
> of the products
> set out in question 1 above through the internet? In
> answering this question
> please address issues relating to contractual formation and
> enforceability of
> contracts entered into via the internet. In particular, if a
> transaction
> entered into via the internet is enforceable under U.S. or
> U.K. law and the
> transactions contain a choice of such law, will such
> transactions, including the
> choice of law, be enforceable in Japan?
We do not have any specific laws or regulations which would marketing or
trading
of any of the products set out in question 1 above through the internet.
Under
Japanese law, formation of any contract does not require any formality.
Japanese law generally does not require any formalities for offers or
acceptances to be valid as such. There is no Statute of Frauds, and parties
may
make most types of contracts orally. If there is enough evidence establishing
that the offeree agreed to the terms offered, an offeror may rely on it. In
most
simple sales contracts for consumer goods, for example, it would be easy to
prove that the customer agreed to pay x yen for product Y. The Seller's
electronic records showing that the customer clicked on the icon to buy
product
Y should be enough in this context.
In more complicated contracts, the structure of the seller's Web pages should
be
carefully designed. Having no court decisions, we have no definite answer to
the
question of enforceability of shrink-wrap agreements in Japan. However, the
legal implications of the Web-wrap, the online version of shrink-wrap, may be
somewhat different from shrink-wraps (e.g. licenses for software sold over the
counter). Under a typical shrink-wrap license in the real world, for example,
the customer cannot break the wrapper until after the customer purchases the
product. However, in an on-line environment, a customer has a choice to click
on
an Accept-to-Buy icon before the customer purchases the product. Further,
with a
carefully compiled sequence of screens or pages which would in effect be able
to
let the customer read the terms and conditions before rushing to click on the
icon, it would be easier to prove that the customer read the terms and
conditions than in a typical shrink-wrap license situation. Unlike shrink-wrap
in the real world, the seller may obtain an electronic record showing that the
customer clicked on the icon. Given these differences, the result possibly may
be more favorable to sellers online than to those using shrink-wrap licenses.
If a transaction entered into via the internet is enforceable under U.S. or
U.K.
law and the transactions contain a choice of such law, such transactions,
including the choice of law, will be enforceable in Japan.
>
> 3. If the answer to either of question 1 or 2 is "yes",
> please indicate
> whether the impact of any relevant statements, laws or
> regulations will differ
> depending upon whether (a) the relevant internet site is
> maintained in your
> jurisdiction or elsewhere; or (b) the party effecting the
> marketing/trading
> through the internet is locally licensed.
N/A
> 4. Please confirm that by marketing to or trading with
> counterparts in your
> jurisdiction via the internet local relevant regulatory
> bodies/local laws or
> regulations will not consider the party maintaining the
> relevant website to have
> established a physical establishment/branch in your jurisdiction.
We do not have any clear cut answer to this since we have no relevant laws,
regulations, or court cases. So long as the party maintains the relevant
website with a computer server located outside Japan, the likelihood of
Japanese
regulatory bodies to consider that the party maintaining such website
established a "physical" establishment/branch in Japan is negligible.
>
> Thank you in advance for your attention. We look forward to
> hearing from you.
>
> Sincerely,
>
> Mark Taylor
>
> |
Bernard,
My coordinates:
Vincent Kaminski
Managing Director - Research
Enron Corp.
1400 Smith Street
Room EB1962
Houston, TX 77002-7361
Phone: (713) 853 3848
(713) 410 5396 (cell)
Fax : (713) 646 2503
E-mail: [email protected]
Yes, we are going into a very interesting summer both here and in the UK.
Vince
"Murphy, Bernard" <[email protected]> on 03/27/2001 01:23:04 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Thesis on Electricity Price Jump-Diffusions
Hi Vince,
Can you e-mail me your mailing address in Houston and I will send you a hard
copy of the above today. Apologies for delay, but I wanted to ensure that
Les Clewlow had received his copy in Sydney before distributing any other
copies.
Incidentally, today (March 27th) is a red letter day in the UK as the NETA /
new electricity trading arrangements have gone 'live'. Should be
interesting to observe the development of the paper market in the coming
months - you're no doubt aware that IPE have just launched an electricity
futures contract.
Regards
Bernard
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: 01 March 2001 15:37
To: Murphy, Bernard
Cc: [email protected]; [email protected]
Subject: RE: 1997 Risk paper on Pricing of Electricity Derivatives
Bernard,
Yes, I can read a DVI file. You can also cc
my home address: [email protected]. I shall
try to send you an answer to your question on weekend.
Vince
"Murphy, Bernard" <[email protected]> on 03/01/2001 09:18:58 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: 1997 Risk paper on Pricing of Electricity Derivatives
Vince,
I can send you a Scientific Word DVI file (at the weekend) if you can read
SCientific Word files ? The dissertation hasn't been reviewed by Les or
the
External yet - although its been at FORC for 2 months. I think that the
Empirical Chapter is probably the one which would be of most relevance to
both our company's businesses - although I ultimately didn't have the time
to 'explicitly' price the jump risk-premium which I conjectured is possibly
implicit in the prices of exchange-traded electricity futures-options -
rather I developed an implicit estimation procedure which will enable a
rough assessment (with a little bit of further work, but not too much) be
made of the price of jump risk in wholesale power markets.
In other words, I assumed spot jump-risk to be undiversifiable, and
essentially devoted 2 Theoretical Chapters to :
1) proving that a jump-diffusion trading model is "incomplete"
(synthesising
the securities markets framework with martingale representation theory) -
note that I did not assume that markets could be dynamically completed with
'term structure' securities as in the HJM w/ jumps papers of Shirakawa and
Das and;
2) deriving an explicit risk-adjustment process for 'implementing' the
price
of jump-risk using a jump-diffusion marginal indirect utility of wealth
process (ie. a jump-augmented production economy approach in the spirit of
CIR, Bates, Ahn & Thompson).
Incidentally, I would be keen to find out if you or any of your team done
much work on real-asset valuations in a spark-spread option-valuation
framework ? I'm about to start a project evaluation of embedded
optionality, and have a dilemna whether I should model the spot or forward
gas / power price processes. With the former, I can model mean-reversion
and jumps explicitly (obviously, important for capturing the optionality of
out-of-the-money plant, which might otherwise be ignored in a
pure-diffusion
framework) but am not maximising the informational content of the available
market data (that is, assuming there was a long-term market forward curve
for electricity); whereas in the latter the driftless forward supposition
means that I have to capture mean-reversion via the futures volatility
function, and jumps are less easy to calibrate. Any suggestions ?
Regards
Bernard
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: 01 March 2001 14:54
To: Murphy, Bernard
Cc: [email protected]; [email protected]
Subject: Re: 1997 Risk paper on Pricing of Electricity Derivatives
Bernard,
I am forwarding your message to my assistant and she will mail you a
reprint.
I would be glad to take a look at your dissertation. Is it available as a
publication, working paper?
Vince
"Murphy, Bernard" <[email protected]> on 03/01/2001 02:17:39 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: 1997 Risk paper on Pricing of Electricity Derivatives
Hello Vince,
My name is Bernard Murphy - I received your e-mail address from Les
Clewlow,
who was my PhD supervisor at the Financia Options Research Centre at
Warwick
Business School. I've just finished my PhD on Electricity Price Jump
Diffusions : A Theoretical and Empirical Study in Incomplete Markets -
hence my interest in electricity price modelling and derivative pricing. I
was looking to get hold of a copy of your 1997 paper, which has recently
come to my attention :
"The Challenge of Pricing & Risk-Managing Electricity Derivatives", The US
POwer Market, Risk Publications, pp. 149-171.
and Les suggested that I contact you directly (Les is travelling at present
and doesn't have an electronic copy available) to request an e-copy.
Incidentally, I am Lecturer in Finance / Financial Mathematics at
University
of Limerick (Ireland) and have taken a year out to work for Caminus UK,
where I am working on introducing and developing a markets-based approach
(spark-spread) to real asset valuations in the UK power industry.
Thanks in advancve
Bernard Murphy |
FYI
----- Forwarded by Scott Bolton/Enron Communications on 11/22/99 08:19 AM
-----
Jeffrey Keeler@ENRON
11/19/99 10:57 AM
To: Scott Bolton/Enron Communications@Enron Communications
cc: Cynthia Sandherr/Corp/Enron@ENRON, Joe Hillings/Corp/Enron@ENRON, Chris
Long/Corp/Enron@ENRON, Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES
Subject: Internet Language DROPPED from Satellite TV bill
Scott:
Just to follow up on my e-mail and voice mail messaged to you: language that
would have barred internet companies from obtaining the licenses to transmit
movies, sporting events and other broadcast programs was DROPPED from H.R.
1554, the satellite TV bill (which is attached to H.R. 3194, the omnibus
appropriations legislation).
Please see the CQ article below for more information on the legislation in
general. We will certainly continue to watch for language like this that
might surface in future legislation. In the context of ECI's larger
legislative agenda, we may also want to explore the potential to develop
legislation that would pro-actively ensure the broadcast of licensed
programming over the internet.
Cheers,
Jeff
*********
TELECOMMUNICATIONS: SATELLITE BILL SURVIVES A SCARE, CARRIES OTHER MEASURES
WITH IT
By Alan K. Ota, CQ Staff Writer
Nov. 18, 1999 - The uproar in the Senate Thursday over deletion of a loan
guarantee program designed to improve rural television service nearly
obscured the significance of the satellite television bill that was linked to
the fiscal 2000 omnibus spending bill (HR3194).
The controversial provision would have created a new Agriculture Department
program to guarantee $1.25 billion in loans enabling satellite providers to
transmit local programming to rural subscribers -- service they insist is too
expensive to provide without help. It was added to the satellite TV bill
(HR1554) in conference but dropped when the final version (S1948) was
referenced in HR3194.
Rural-state senators led by Max Baucus, R-Mont., blocked action on a stopgap
funding bill (HJRES82) until leaders promised them a floor vote on the loan
guarantee legislation or similar provisions by next April 1.
Also dropped from the final bill was language that would haved barred
Internet service providers from obtaining the licenses necessary to transmit
movies, sports events and other broadcast programming. Cable and satellite
providers would be the only entities with such licenses. America Online and
other companies lobbied furiously to strip the provision.
The final measure would for the first time allow satellite companies to beam
local news, sports, weather and other broadcast programming to all of their
customers, just as cable providers do.
And it would grant a reprieve to more than a million satellite subscribers
now receiving local channels who otherwise would lose those signals by year's
end. A court had ruled the subscribers do not qualify to receive local
signals by satellite under current law.
Satellite companies would have to gain permission from local broadcast
stations within six months after they begin retransmitting those signals.
By Jan. 1, 2002, satellite carriers that transmit local channels would have
to carry all of the channels in that community, a "must-carry" requirement
already imposed on cable providers.
The measure would extend for five years the licenses under which satellite
companies retransmit the signals of superstations and distant network
stations and reduce the copyright fees they must pay.
The bill would generally retain existing standards for determining which
subscribers are eligible to receive distant network signals by satellite, but
it would require the Federal Communications Commission to review its model
for determining which areas are unable to receive acceptable-quality
broadcast signals over the air.
Like the conference report on HR1554, the final satellite bill carries a
number of pieces of unrelated legislation.
* Patent Overhaul. In a victory for Senate Judiciary Committee Chairman Orrin
G. Hatch, R-Utah, negotiators included a patent system overhaul bill (HR1907)
that was strongly opposed by some inventors and by the Eagle Forum, a
conservative group headed by political activist Phyllis Schlafly, who argued
that it would permit foreign companies to steal American technology.
The bill would require publication of some patent applications, which have
been filed both in the United States and abroad, within 18 months of filing,
whether or not patents have been granted.
The measure also would require the Patent and Trademark Office to approve or
reject a patent application within three years. It would provide patent term
extensions for any not approved within that three-year period to guarantee
investors a 17-year patent term. Currently, patents are for 20 years, but
inventors often lose years waiting for approval of their applications.
* Low-Power TV Stations. The omnibus spending bill also included provisions
of a bill (HR486) to create a new "Class A" license for low-power television
stations equivalent to those granted to full-service "primary" stations.
The provisions are designed to help low-power stations that often provide
"niche" programming in urban areas and local programming in rural areas
become more stable and commercially viable.
* 'Cybersquatting.' The measure includes provisions of a bill (S1255) to bar
unauthorized use of trademark-protected brand names in Internet addresses.
The bill was passed by the Senate by voice vote Aug. 5; the House passed a
different version Oct. 26.
* PBS Donor Lists. In response to disclosures earlier this year that some
public broadcast stations had exchanged donor lists with political parties --
and primarily with Democratic Party units -- negotiators included a provision
to prohibit such stations from sharing their donor lists with political
parties. It also would bar disclosure of its donors to any non-affiliated
group without the donor's consent. Rep. Cliff Stearns, R-Fla., had introduced
legislation (HR2791) earlier this year to prohibit the list-sharing, but the
bill did not advance. |
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 |
Sorry Roby,
Let me make myself more clear for you to understand.
Yo my nigga, me and my ice are in for da ski ski in da Rocks! Me and my
boyz will be in full effect. Fill me in, on when we will be going to "C"
to the isa "O" to the iso and let me know how much bling bling I will
need. Cuz I got ho's in dat area code!
Naquin
--- COREY ROBICHEAUX <[email protected]> wrote:
> Good call Ross, CjRob wants to know why also??
>
>
> >From: [email protected]
> >To: Scott Naquin <[email protected]>
> >CC: Clint Eilbeck <[email protected]>, Myers Namie
> <[email protected]>,
> >Myers Namie <[email protected]>, Denis Naquin <[email protected]>,
>
> >Scott Naquin <[email protected]>, Tommy Porteous
> <[email protected]>,
> >"'COREY ROBICHEAUX'" <[email protected]>, Cypress Baton Rouge
> <[email protected]>,
> > Tanya Flynn <[email protected]>, Mike Gooch
> <[email protected]>,
> >Bernard Guste <[email protected]>, Clay Hufft <[email protected]>,
>
> >Matt Lenhart <[email protected]>, Cypress Litigation
> ><[email protected]>, Ross Berthelot <[email protected]>,
>
> >Ross Berthelot <[email protected]>, Chris Bourgeois
> ><[email protected]>, Scott Dehart <[email protected]>, don edgerton
>
> ><[email protected]>
> >Subject: Re: THE OFFICIAL SNOW REPORT!!!!!
> >Date: Wed, 24 Oct 2001 09:27:11 -0500
> >
> >
> >Naq,
> >
> >why do you refer to yourself in the 3rd person? "Jimmy likes
> Elayne...Jimmy
> >thinks Elayne is allright....."
> >
> >
> >
> >
> >Ross F. Berthelot
> >Underwriter
> >Commercial Real Estate
> >Ph: (225) 332-4252
> >Fax: (225) 332-3154
> >
> >
> >
> >
> >
> >
> >Scott Naquin <[email protected]> on 10/24/2001 08:28:28 AM
> >
> >To: Clint Eilbeck <[email protected]>, Myers Namie
> <[email protected]>,
> > Myers Namie <[email protected]>, Denis Naquin
> ><[email protected]>,
> > Scott Naquin <[email protected]>, Tommy Porteous
> > <[email protected]>, "'COREY ROBICHEAUX'" <[email protected]>,
> > Cypress Baton Rouge <[email protected]>, Tanya Flynn
> > <[email protected]>, Mike Gooch <[email protected]>,
> Bernard
> > Guste <[email protected]>, Clay Hufft <[email protected]>,
> Matt
> > Lenhart <[email protected]>, Cypress Litigation
> > <[email protected]>, Ross Berthelot
> <[email protected]>,
> > Ross Berthelot <[email protected]>, Chris Bourgeois
> > <[email protected]>, Scott Dehart <[email protected]>, don
> >edgerton
> > <[email protected]>
> >cc:
> >
> >Subject: Re: THE OFFICIAL SNOW REPORT!!!!!
> >
> >
> >
> >Naquin is in if that is the actual deal..........Clint, did Malboro
> >promise you this deal if you would keep smoking?
> >Props on the last email by the way, that shit was good!
> >
> >Give me the details as to when we need the first wave of cash!
> >
> >Who is going without dates because I don't want to be stuck roasting
> >marsh-mellows and snuggling in front the fireplace!
> >
> >Naquin
> >
> >
> >
> >--- Clint Eilbeck <[email protected]> wrote:
> > > This is the Official Snowking Report for the Year
> > > 2002!
> > >
> > > How bout Keystone/Vail/Breckenridge/"Beaver" Creek all
> > > in one trip for the Amazing Price of $590.00. Yes,
> > > that is correct - No Bullshit.
> > >
> > > Listen Up-
> > > This includes round trip tickets from N.O. to Denver.
> > > 5 Days/4 Nights in a Condo in Keystone (Either 2 BR/2
> > > Bath or 3 BR/2 Bath w/ a fold out. Includes minivan,
> > > since Keystone is approximately 91 miles from the
> > > Denver Airport. Lift tickets for 4 Days at the
> > > locations mentioned above (Sorry, only 2 days out of 4
> > > can be at Vail or Beaver Creek.)
> > >
> > > Dates: Jan. 10 - 14th (Thurs.-Mon.)
> > >
> > > If you act now, they will also provide free snowjobs.
> > > They also said if you ride a Harley Sportster all the
> > > way from B.R.,they will just give the trip away. I
> > > asked about pets -Dogs have to sleep outside, Sorry.
> > >
> > > They have plenty of ski runs. One double black diamond
> > > goes through the nig part of town, I suggest going w/
> > > cjrob through this treacherous run and don't slow down
> > > on the flat areas. Another goes straight to Oz - we
> > > all know who will be hitting this green run in his
> > > Pink bib and jacket. They also have a married couple
> > > run, no further comments on this one. 00. I'll be on
> > > the bunny slopes checking out the MILF'S and the
> > > beginners. I hope to give a few lessons.
> > >
> > > Anyway, who has questions or comments?
> > >
> > > CE
> > > Don't forget your swim trunks!
> > >
> > >
> > > __________________________________________________
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> > > Make a great connection at Yahoo! Personals.
> > > http://personals.yahoo.com
> >
> >
> >__________________________________________________
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> >Make a great connection at Yahoo! Personals.
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> >
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> >This transmission may contain information that is privileged,
> confidential
> >and/or exempt from disclosure under applicable law. If you are not the
> >intended recipient, you are hereby notified that any disclosure,
> copying,
> >distribution, or use of the information contained herein (including any
>
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> transmission
> >in error, please immediately contact the sender and destroy the
> material in
> >its entirety, whether in electronic or hard copy format. Thank you.
> >
>
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Do You Yahoo!?
Make a great connection at Yahoo! Personals.
http://personals.yahoo.com |
Another Division
Mark,
Global Counterparty wants me to approve this EOL counterparty which is a
division. My deal with the EOL team was that they would kick these
counterparties back and try to get the legal incorporated entity as part of
the name. Global Counterparty is satisfied opening counterparties up as
divisions and I am getting frustrated constantly fighting this battle. Do
you wish to intercede, or shall I give up and let counterparties be opened as
divisions? Do you want to call a meeting with Sam's boss to discuss
divisions? What to do?
----- Forwarded by Tana Jones/HOU/ECT on 03/28/2001 03:39 PM -----
Samuel Schott
03/28/2001 01:09 PM
To: Tana Jones/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT
cc: Walter Guidroz/Enron@EnronXGate, Tom Moran/Enron@EnronXGate, Lisa
Lees/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT, Cheryl Johnson/Corp/Enron@Enron
Subject: Re: EOL approvals, 3-20-01 _ GCP (US) Response -
CP/ID 94330, Cargill Ferrous International
FYI...
Cargill Ferrous International is setup correctly in the Global Counterparty
System as a Division of Cargill, Inc.
Cargill Ferrous International is the full name of this division and setup as
such in GCP with a Sub-to-Legal Link
to Cargill, Inc. per GCP procedure.
Also, the Global SAP team (Cheryl Johnson) would need Legal Name Change
documentation from the Counterparty
in order to change this name.
Best Rgds.
Samuel x3-9890 (GCP)
Enron Net Works _ Global Data Management
From: Tana Jones on 03/28/2001 09:47 AM
To: Samuel Schott/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT
cc:
Subject: Re: EOL approvals, 3-20-01 _ GCP (US) Response
Any updates on adding the correct legal name to this counterparty name?
---------------------- Forwarded by Samuel Schott/HOU/ECT on 03/28/2001 12:53
PM ---------------------------
From: Samuel Schott 03/23/2001 11:25 AM
To: Stephanie Sever/HOU/ECT@ECT
cc: Tana Jones/HOU/ECT@ECT, Walter Guidroz/NA/Enron, Tom
Moran/Enron@EnronXGate, Lisa Lees/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT
Subject: Re: EOL approvals, 3-20-01 _ GCP (US) Response
Hello,
Yes, GCP provides the links to establish the correlation between the parent
and child for our downstream systems.
GCP procedure is to create Counterparty names that reflect either the
Tradename / Division name or Parent Name - - not both simultaneously.
(Although, we have broken that rule for Legal in the past.) This defeats the
purpose of using a Tradename.
Best Rgds.
Samuel
From: Stephanie Sever
03/23/2001 10:21 AM
To: Tana Jones/HOU/ECT@ECT
cc: Samuel Schott/HOU/ECT@ECT, Walter Guidroz/NA/Enron, Tom
Moran/Enron@EnronXGate, Lisa Lees/HOU/ECT@ECT
Subject: Re: EOL approvals, 3-20-01 _ GCP (US) Response
Tana,
Please review the process below:
With divisions, EOL does request a new Password Application for the
applicant reflecting the name as you noted below. When the company is set up
in the EOL database we link the company to the Parent and reference the CP
ID. Sam, please confirm, Global Counterparty also provides the links to
establish correlation between the parent and child for our downstream systems.
Let me know if this is the appropriate steps that you would like to see.
Thanks,
Stephanie
From: Tana Jones on 03/22/2001 06:03 PM
To: Samuel Schott/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT
cc: Walter Guidroz/Enron@EnronXGate, Tom Moran/Enron@EnronXGate
Subject: Re: EOL approvals, 3-20-01 _ GCP (US) Response
Sam & Stephanie,
Re: Cargill Ferrous International
It was my understanding with the EOL Team that all divisions would have the
legal incorporated entity as part of the name. Stephanie, I my preference is
to kick their Password Application back and get them to change it to read
something like "Cargill Ferrous International, a division of Cargill, Inc."
or "Cargill, Inc. acting through its Cargill Ferrous International Division".
Samuel Schott
03/21/2001 01:58 PM
To: Walter Guidroz/ENRON@enronXgate @ ENRON, Karen Lambert/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant
Reves/ENRON@enronXgate@ENRON, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/ENRON@enronXgate@ENRON, Cynthia
Clark/ENRON@enronXgate@ENRON, Enron Europe Global Contracts and
Facilities@ENRON, Enron Europe Global CounterParty/LON/ECT@ECT, Stephanie
Sever/HOU/ECT@ECT, Tom Moran/ENRON@enronXgate@ENRON, Claudia
Clark/HOU/ECT@ECT, William S Bradford/ENRON@enronXgate@ENRON, Lisa
Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron,
Trang Le/HOU/ECT@ECT, Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim
Davies/LON/ECT@ECT, Karen O'Day/NA/Enron@Enron, Tanya
Rohauer/ENRON@enronXgate@ENRON, Kelly Lombardi/NA/Enron@Enron, Brian
Lindsay/Enron Communications@Enron Communications@ENRON, EOL Call
Center@ENRON, Bernice Rodriguez/HOU/ECT@ECT, Bill D Hare/HOU/ECT@ect, Amy
Heffernan/Enron Communications@Enron Communications@ENRON, Molly LaFuze/Enron
Communications@Enron Communications@ENRON, Danny Clark/Enron
Communications@Enron Communications@ENRON
cc:
Subject: Re: EOL approvals, 3-20-01 _ GCP (US) Response
Any GCP adjustments will be highlighted in red.
Attn. GCP_London:
There's a new EOL Counterparty listed in the UK. Please respond.
Best Rgds.
Samuel x3-9890
ENW_GCP
From: Walter Guidroz/ENRON@enronXgate on 03/20/2001 05:30 PM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/ENRON@enronXgate,
Debbie R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli
Campbell/ENRON@enronXgate, Cynthia Clark/ENRON@enronXgate, Enron Europe
Global Contracts and Facilities@ENRON, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Tom
Moran/ENRON@enronXgate, Claudia Clark/HOU/ECT@ECT, William S
Bradford/ENRON@enronXgate, Lisa Lees/HOU/ECT@ECT, Juana
Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron, Trang Le/HOU/ECT@ECT,
Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Tim Davies/LON/ECT@ECT,
Karen O'Day/NA/Enron@Enron, Tanya Rohauer/ENRON@enronXgate, Kelly
Lombardi/NA/Enron@Enron, Brian Lindsay/Enron Communications@Enron
Communications, EOL Call Center@ENRON, Bernice Rodriguez/HOU/ECT@ECT, Bill D
Hare/HOU/ECT@ect, Amy Heffernan/Enron Communications@Enron Communications,
Molly LaFuze/Enron Communications@Enron Communications, Danny Clark/Enron
Communications@Enron Communications
cc:
Subject: EOL approvals, 3-20-01
Please see attached. |
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 07/05/2001 10:15 AM -----
Gary L Sova@EES
07/05/2001 06:52 AM
To: Susan J Mara/NA/Enron@ENRON
cc: Angela Schwarz/HOU/EES@EES
Subject: CPUC Postpones action on Direct Access Until Mid-August
Susan, would you please add me to your mailing list for follow up on the CA
direct access updates. I report to Angela Schwarz and responsible for client
origination/restructure in her group. Thanks,Gary.----------------------
Forwarded by Gary L Sova/HOU/EES on 07/05/2001 08:49 AM
---------------------------
Enron Energy Services
From: Justin Day 07/05/2001 08:38 AM
Phone No: 713-345-8205
cell: 713 444 9139
pgr: 877 254 5184
To: Gary L Sova/HOU/EES@EES
cc:
Subject: CPUC Postpones action on Direct Access Until Mid-August
Hope this helps.
---------------------- Forwarded by Justin Day/HOU/EES on 07/05/2001 08:38 AM
---------------------------
Scott Porter
07/03/2001 01:54 PM
To: [email protected], [email protected], [email protected]
cc: Edwin Essandoh/HOU/EES@EES, Jeff Gale/HOU/EES@EES, Justin Day/HOU/EES@EES
Subject: CPUC Postpones action on Direct Access Until Mid-August
Everyone:
Please see the attached press release from the California Public Utilities
Commission that was released today. The Commission has postponed for a
second time its vote, this time until mid-August. I have not heard what is
behind this but thought you should know ASAP.
Scott
---------------------- Forwarded by Scott Porter/HOU/EES on 07/03/2001 01:52
PM ---------------------------
Jodi Thrasher
07/03/2001 01:46 PM
To: Tom Prisk/HOU/EES@EES, Scott Porter/HOU/EES@EES
cc:
Subject: CPUC Postpones action on Direct Access Until Mid-August
---------------------- Forwarded by Jodi Thrasher/HOU/EES on 07/03/2001 01:46
PM ---------------------------
Enron Energy Services
From: Jennifer Rudolph 07/03/2001 01:09 PM
To: CA Team
cc:
Subject: CPUC Postpones action on Direct Access Until Mid-August
---------------------- Forwarded by Jennifer Rudolph/HOU/EES on 07/03/2001
01:09 PM ---------------------------
Susan J Mara@ENRON
07/03/2001 12:35 PM
To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly
Aden/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol Moffett/HOU/EES@EES,
Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT, Christina
Liscano/HOU/EES@EES, Christopher F Calger/PDX/ECT@ECT, Craig H
Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES,
Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Douglas
Huth/HOU/EES@EES, Edward Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES,
Erika Dupre/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES,
Gayle W Muench/HOU/EES@EES, Ginger Dernehl/NA/Enron@ENRON, Gordon
Savage/HOU/EES@EES, Harold G Buchanan/HOU/EES@EES, Harry
Kingerski/NA/Enron@ENRON, James D Steffes/NA/Enron@ENRON, James W
Lewis/HOU/EES@EES, James Wright/Western Region/The Bentley Company@Exchange,
Jeff Messina/HOU/EES@EES, Jeremy Blachman/HOU/EES@EES, Jess
Hewitt/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Karen
Denne/Corp/Enron@ENRON, Kathy Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken
Gustafson/HOU/EES@EES, Kevin Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES,
Leticia Botello/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Marsha
Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Meredith M Eggleston/HOU/EES@EES,
Michael Etringer/HOU/ECT@ECT, Michael Mann/HOU/EES@EES, Michelle D
Cisneros/HOU/ECT@ECT, [email protected], Neil Bresnan/HOU/EES@EES, Neil
Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Richard L Zdunkewicz/HOU/EES@EES,
Richard Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita
Hennessy/NA/Enron@ENRON, Robert Badeer/HOU/ECT@ECT, Rosalinda
Tijerina/HOU/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES,
Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES, [email protected], Susan J
Mara/NA/Enron@ENRON, Tanya Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted
Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT,
Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Vladimir
Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S Bradford/HOU/ECT@ECT,
Jubran Whalan/HOU/EES@EES, Richard B Sanders/HOU/ECT@ECT, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected],
[email protected], Donna Fulton/Corp/Enron@ENRON, [email protected],
Bruno Gaillard/EU/Enron@Enron, Linda Robertson/NA/Enron@ENRON, Ren,
Lazure/Western Region/The Bentley Company@Exchange, Michael
Tribolet/Corp/Enron@Enron, Phillip K Allen/HOU/ECT@ECT, Christian
Yoder/HOU/ECT@ECT, [email protected], Tamara Johnson/HOU/EES@EES, Greg
Wolfe/HOU/ECT@ECT, Jeff Dasovich/NA/Enron@Enron, Dirk vanUlden/Western
Region/The Bentley Company@Exchange, Steve Walker/SFO/EES@EES, James
Wright/Western Region/The Bentley Company@Exchange, Mike D Smith/HOU/EES@EES,
Richard Shapiro/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steve Walton/HOU/ECT@ECT,
[email protected], [email protected], Janel Guerrero/Corp/Enron@Enron, Mark
Fillinger/SF/ECT@ECT, Jennifer Rudolph/HOU/EES@EES, Martin
Wenzel/SFO/HOU/EES@EES, [email protected], Joseph Alamo/NA/Enron@Enron, Ray
Alvarez/NA/Enron@ENRON, David Leboe/Enron@EnronXGate, Jay Zoellner/Western
Region/The Bentley Company@Exchange, Fatimata Liamidi/HOU/EES@EES, Sonia
Perez/HOU/EES@EES, Chris Holmes/HOU/EES@EES, Venkatesh Mani/Western
Region/The Bentley Company@Exchange, Richard Crevelt/Western Region/The
Bentley Company@Exchange, Dave Perrino/SF/ECT@ECT, Malcolm
Adkins/HOU/EES@EES, Kevin Keeney/HOU/EES@EES, Chris Stokley/ENRON@enronXgate,
Steve C Hall/ENRON@enronXgate, Tracy Ngo/Enron@EnronXGate, [email protected]
cc:
Subject: CPUC Postpones action on Direct Access Until Mid-August
The vote to suspend direct access has been postponed. This is a positive
sign that the legislature is making progress on a comprehensive solution.
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 07/03/2001 10:28 AM -----
"Bill Chen" <[email protected]>
07/03/2001 09:57 AM
To: [email protected]
cc: [email protected], [email protected],
[email protected], [email protected]
Subject: Today's CPUC Mtg. - Cancelled
See attached press release.
Bill
- 070301.doc |
that was cute!? thank you! i especially loved the list....
At 08:28 AM 12/12/2000 -0600, you wrote:
---------------------- Forwarded by Susan M Scott/HOU/ECT on 12/12/2000
08:23 AM ---------------------------
?????????????????????????????????????????????????????
?(Embedded???? Enron Capital & Trade Resources Corp.?
?image moved?????????????????????????????????????????
?to file:???? From:? "Emily Hillegeist"?????????????
?pic24766.pcx) <[email protected]>?????????????
?????????????? 12/12/2000 03:40 AM???????????????????
?????????????????????????????????????????????????????
?????????????????????????????????????????????????????
?????????????????????????????????????????????????????
To:?? [email protected], [email protected], [email protected]
cc:
Subject:? Fwd: hey, girlfriends!
>From: [email protected]
>To: [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected]
>Subject: Fwd: hey, girlfriends!
>Date: Tue, 12 Dec 2000 04:30:16 EST
>
>
Get more from the Web.? FREE MSN Explorer download :
http://explorer.msn.com
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From: "thesymingtons" <[email protected]>
To: "Maggie Symington" <[email protected]>
Subject: hey, girlfriends!
Date: Mon, 11 Dec 2000 17:15:45 -0000
MIME-Version: 1.0
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Something fun to read!
>
>? I WANT WHAT SHE'S HAVING
>
> >>>> I have a new delightful friend,
> > >? > I am most in awe of her.
> > >? > When we first met I was impressed,
> > >? > By her bizarre behavior.
> > >? >
> > >? > That day I had a date with friends,
> > >? > We met to have some lunch.
> > >? > Mae had come along with them,
> > >? > All in all ... a pleasant bunch.
> > >? >
> > >? > When the menus were presented,
> > >? > We ordered salads, sandwiches, and soups.
> > >? > Except for Mae who circumvented,
> > >? > And said, Ice Cream, please: two scoops.
> > >? >
> > >? > I was not sure my ears heard right,
> > >? > And the others were aghast.
> > >? > Along with heated apple pie,
> > >? > Mae added, completely unabashed.
> > >? >
> > >? > We tried to act quite nonchalant,
> > >? > As if people did this all the time.
> > >? > But when our orders were brought out,
> > >? > I did not enjoy mine.
> > >? >
> > >? > I could not take my eyes off Mae,
> > >? > As her pie a-la-mode went down.
> > >? > The other ladies showed dismay,
> > >? > They ate their lunches silently, and frowned.
> > >? >
> > >? > Well, the next time I went out to eat,
> > >? > I called and invited Mae.
> > >? > My lunch contained white tuna meat,
> > >? > She ordered a parfait.
> > >? >
> > >? > I smiled when her dish I viewed,
> > >? > And she asked if she amused me.
> > >? > I answered, Yes, you do,
> > >? > But also you confuse me.
> > >? >
> > >? > How come you order rich desserts,
> > >? > When I feel I must be sensible?
> > >? > She laughed and said, with wanton mirth,
> > >? > I am tasting all that's possible.
> > >? >
> > >? > I try to eat the food I need,
> > >? > And do the things I should.
> > >? > But life's so short, my friend, indeed,
> > >? > I hate missing out on something good.
> > >? >
> > >? > This year I realized how old I was,
> > >? > She grinned, I've not been this old before.
> > >? > So, before I die, I've got to try,
> > >? > Those things for years I had ignored.
> > >? >
> > >? > I've not smelled all the flowers yet,
> > >? > There's too many books I have not read.
> > >? > There's more fudge sundaes to wolf down,
> > >? > And kites to be flown overhead.
> > >? >
> > >? > There are many malls I have not shopped,
> > >? > I've not laughed at all the jokes.
> > >? > I've missed a lot of Broadway Hits,
> > >? > And potato chips and cokes.
> > >? >
> > >? > I want to wade again in water,
> > >? > And feel ocean spray upon my face.
> > >? > Sit in a country church once more,
> > >? > And thank God for It's grace.
> > >? >
> > >? > I want peanut butter every day,
> > >? > Spread on my morning toast.
> > >? > I want un-timed long-distance calls,
> > >? > To the folks I love the most.
> > >? >
> > >? > I've not cried at all the movies yet,
> > >? > Nor walked in the morning rain.
> > >? > I need to feel wind in my hair,
> > >? > I want to fall in love again.
> > >? >
> > >? > So, if I choose to have dessert,
> > >? > Instead of having dinner.
> > >? > Then should I die before night fall,
> > >? > I'd say I died a winner.
> > >? >
> > >? > Because I missed out on nothing,
> > >? > I filled my heart's desire.
> > >? > I had that final chocolate mousse,
> > >? > Before my life expired.
> > >? >
> > >? > With that, I called the waitress over,
> > >? > I've changed my mind, it seems.
> > >? > I said, I want what she is having,
> > >? > Only add some more whipped-cream!
> > >? >
> > >? > Here is a little something for you all!
> > >? > We need an annual Girlfriends Day!
> > >? > If you get this twice,
> > >? > then you have more than one girlfriend.
> > >? > Be happy.
> > >? >
> > >? > ALL I NEED TO KNOW ABOUT LIFE I LEARNED FROM MY GIRLFRIENDS
> > >? >
> > >? >? * Good times are even better when they're shared.
> > >? >? * A good long talk can cure almost anything.
> > >? >? * Everyone needs someone with whom to share their secrets.
> > >? >? * Listening is just as important as talking.
> > >? >? * An understanding friend is better than a therapist...
> > >? >??? and cheaper too!
> > >? >? * Laughter makes the world a happier place.
> > >? >? * Friends are like wine; they get better with age.
> > >? >? * Sometimes you just need a shoulder to cry on.
> > >? >? * Great minds think alike, especially when they are female!
> > >? >? * When it comes to "bonding," females do it better.
> > >? >? * YOU ARE NEVER TOO OLD FOR SLUMBER PARTIES!!!!
> > >? >? * Girls just want to have fun.
> > >? >? * It's important to make time to do "girl things."
> > >? >? * Calories don't count when you are having lunch
> > >? >??? (or any other food) with your girlfriends.
> > >? >? * You can never have too many shoes.
> > >? >? * GEMS MAY BE PRECIOUS, BUT FRIENDSHIP IS PRICELESS!!!
> > >? >
> > >? >? PLEASE PASS THIS ON TO ALL OF YOUR GIRLFRIENDS |
There isn't much to the memo, but this is it! It came out well after the end
of the work day for most folks. I believe that Patti has sent you my travel
plans for next week. Have a great weekend!
---------------------- Forwarded by Sally Beck/HOU/ECT on 01/12/2001 09:20 PM
---------------------------
Enron North America Corp.
From: Office of the Chairman @ ENRON 01/12/2001
07:31 PM
Sent by: Office of the Chairman@ENRON
To: All Enron Worldwide
cc:
Subject: Managing Director and Vice President Elections
The Managing Director PRC Committee met this week to elect individuals to
Managing Director and Vice President positions. These employees are
recognized as outstanding contributors to the organization, whose individual
efforts have been instrumental in the continued success and growth of the
company. We are pleased to announce the election of the following new
Managing Directors and Vice Presidents. Please join us in congratulating
these individuals on their new appointments.
Managing Director ) Commercial
Phillip K. Allen, ENA (EWS) West Gas Trading - Houston
Franklin R. Bay, EBS Entertainment on Demand - Houston
Timothy N. Belden, ENA (EWS) ) West Power Trading - Portland
Michael R. Brown, EEL ) Executive - London
Christopher F. Calger, ENA (EWS) West Power Origination - Portland
Joseph M. Deffner, ENA (EWS) Treasury & Funding - Houston
Timothy J. Detmering, ENA (EWS) Corporate Development - Houston
William D. Duran, ENA (EWS) Generation Investments - Houston
Robert S. Gahn, EES Commodity Structuring - Houston
Kevin C. Garland, EBS Broadband Ventures - Houston
Ben F. Glisan, Jr., Corporate ) Global Equity Markets - Houston
Robert E. Hayes, ETS COMM Marketing - Houston
Phillip R. Milnthorp, ENA (EWS) Canada Origination & Trading - Calgary
Managing Director ) Commercial Support
Sally W. Beck, ENW (EWS) Energy Operations Management - Houston
Fernley Dyson, EEL Finance & Support Services - London
Vice President ) Commercial
Gregory Adams, EES MMC Management - Houston
Robert Bayley, EEL-UK Origination ) London
Jack D. Boatman, ETS Market Development ) Houston
Rhenn Cherry, EES Assets/Labor ) Houston
Niamh Clarke, EGM (EWS) Liquids Trading ) London
Peter Crilly, EEL-UK Origination ) London
Derek J. Davies, ENA (EWS) Canada Origination ) Calgary
Mark D. Davis, Jr., ENA (EWS) East Power Trading ) Houston
Charles Delacey, Corporate Finance ) Houston
Paul Devries, ENA (EWS) Canada Origination ) Toronto
Christopher H. Foster, ENA (EWS) West Power Trading ) Portland
Jeffrey F. Golden, EES Corporate Development ) Houston
Michael D. Grigsby, ENA West Gas Trading Group - Houston
Troy A. Henry, EES Bundled Sales-Heavy Industrial ) Houston
Rogers Herndon, ENA (EWS) East Power Trading ) Houston
James W. Lewis, EES Underwriting ) Houston
Christopher Mahoney, EGM (EWS) Liquids Trading ) London
Andrew Marsden, EBS Broadband Ventures ) London
John McClain, EBS Broadband Wholesale Origination ) Houston
Kevin J. McGowan, EGM (EWS) American Coal ) Houston
Albert E. McMichael, Jr., ENA (EWS) Gas Commodity Structuring ) Houston
Ermes I. Melinchon, Central America Origination ) Houston
Steven R. Meyers, EES Consumption ) Houston
Lloyd D. Miller, ENA (EWS) Portfolio Management ) Houston
Michael A. Miller, Wind Development / Execution-General Administration )
Houston
Marcello Romano, EBS EEL-Broadband Trading ) London
David A. Samuels, ENW (EWS) EnronOnline - Houston
Per A. Sekse, EGM (EWS) Global Risk Markets ) New York
Edward S. Smida, EBS Video on Demand ) Houston
Mark Tawney, EGM (EWS) Weather Trading ) Houston
Jon Thomsen, EBS Business Development ) Latin America/Canada ) Portland
Barry L. Tycholiz, ENA (EWS) West Gas Origination - Houston
Frank W. Vickers, ENA (EWS) East Gas Origination ) Houston
Amit Walia, Corporate, Corporate Development ) Houston
William White, EBS Global Bandwidth Risk Mgmt ) Houston
Jonathan Whitehead, EEL EA Trading ) Japan
Mark Whitt, ENA (EWS) West Gas Origination ) Denver
John A. Zufferli, ENA (EWS) Canada Power Trading - Calgary
Vice President ) Commercial Support
Beth Apollo, EEL Financial Operations Executive ) London
Marla Barnard, EBS Human Resources ) Houston
Karen L. Denne, Corporate, Public Relations ) Houston
Georganne M. Hodges, ENA (EWS) Trading, Origination & Power Plant Accounting
) Houston
Phillip Lord, EEL Transaction Support ) London
Peggy Mahoney, EES Marketing ) Communication ) Houston
Steven Montovano, Corporate, Government & Regulatory Affairs ) Dublin
Laura Scott, ENA (EWS) Canada Accounting ) Calgary
Richard C. Sherman, ENA (EWS) Transaction Support ) Houston
Gregory W. Stubblefield, EES Financial Planning & Reporting ) Houston
Dennis D. Vegas, CALME International Public Relations ) Houston
Vice President ) Specialized Technical
Sami Arap Sobrinho, ESA (EWS) Legal ) Houston
Merat Bagha, EBS Sales Engineering ) Houston
Justin Boyd, EEL Legal ) London
Mary Nell Browning, EBS Legal ) London
Jonathan Chapman, EEL Legal ) London
Robert D. Eickenroht, Corporate, Legal ) Houston
Mark Evans, EEL Legal ) London
David Forster, ENW (EWS) EnronOnline ) Houston
Janine Juggins, EEL Tax ) London
Peter C. Keohane, ENA (EWS) Canada Legal ) Calgary
Pinnamaneni V. Krishnarao, ENA (EWS) Research Group ) Houston
Travis C. McCullough, ENA (EWS) Finance Origination, Mergers/Acquisitions )
Houston
Michael Popkin, ESA (EWS) SA- Risk Management/Network Integration ) Houston
Elizabeth A. Sager, ENA (EWS) Physical Trading ) Houston
Richard B. Sanders, ENA (EWS) Litigation ) Houston
John W. Schwartzenburg, EECC Legal ) Houston
Michael D. Smith, EES Legal ) Houston
Marcus Vonbock Und Polach, EEL Legal ) London
Jay C. Webb, ENW (EWS) EnronOnline Systems ) Houston
Vice President ) Technical
Donald R. Hawkins, ETS Quality Management ) Houston
John R. Keller, ETS Engineering & Construction ) Houston |
Shapiro is just unwilling to accept the fact that his guy is a very scary guy
... enough to scare away lifelong democrats.
I got your voicemail. Thanks for following up. We would be looking for a
contract relationship only, not full time.
----- Forwarded by Steven J Kean/NA/Enron on 12/04/2000 08:39 AM -----
Richard Shapiro
11/30/2000 09:37 AM
To: Steven J Kean/NA/Enron@Enron
cc:
Subject: RE: FW: We have a leak
???
---------------------- Forwarded by Richard Shapiro/NA/Enron on 11/30/2000
09:37 AM ---------------------------
"Foster, Gary" <[email protected]> on 11/30/2000 09:11:46 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: FW: We have a leak
I believe that Steve has been won over only for political (as in corporate
politics) reasons but once he gets in the voting booth, he's still with you
and Melissa.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, November 30, 2000 9:18 AM
To: Foster, Gary
Cc: Rick and Amy Shapiro (E-mail); Steve and Melissa Kean (E-mail)
Subject: Re: FW: We have a leak
Thanks- you got it about right .....except that Kean's Democratic
credentials are seriously in question these days as are his " liberal-
minded" credentials. You may have won over an individual who can now
clearly be categorized as a lost soul.
"Foster, Gary" <[email protected]> on 11/30/2000 08:07:18 AM
To: "Rick and Amy Shapiro (E-mail)" <[email protected]>, "Steve and
Melissa Kean (E-mail)" <[email protected]>
cc:
Subject: FW: We have a leak
steve and rick-
mark halperin is the political director at abc -- the smart guy sitting to
peter jennings's right all night on election night who knew everything. his
brother is a speechwriter at the nsc. you'll see below his recommendation
of
mark katz and his number.
i also emailed peggy noonan to ask for any ideas. haven't heard from her
yet. she's been very busy writing some of the more brilliant commentary on
the current situation which i'm sure hasn't been allowed into the shapiro
empire.
speaking of stock prices, what the hell happened yesterday? i'm still a
stock holder (very small) so pass my bitches along to koenig.
-----Original Message-----
From: Foster, Gary
Sent: Thursday, November 30, 2000 8:42 AM
To: 'Halperin, Mark'
Subject: RE: We have a leak
what do you mean 'on principle'? there couldn't be a better issue for a
clinonista to stand for than busting up monopolies' hold on the little
people. actually enron's government affairs office is run by a bunch of
democrats and they just hired summer's congressional person at treasury to
run their d.c. office. is your brother still at the nsc?
katz is the person i was thinking of. i'll pass his name along. thanks.
-----Original Message-----
From: Halperin, Mark [mailto:[email protected]]
Sent: Wednesday, November 29, 2000 4:22 PM
To: 'Foster, Gary'
Subject: RE: We have a leak
after re-reading your original email (the first words of which were that i
should share it with sam and gma) i felt a little less bad on my own....it
was still dumb...and our secret is safe..keep sending them
by brother is very funny...i'm not sure he would do it on principle...but i
can ask...the person to ask is mark katz...who wrote for clinton and
gore...very funny..very automatic...use my name...let me know if there is a
problem 212-496-7013
-----Original Message-----
From: Foster, Gary [mailto:[email protected]]
Sent: Wednesday, November 29, 2000 9:30 AM
To: Halperin, Mark
Subject: RE: We have a leak
your level of apologizing was not necessary but after re-reading my initial
email i can see where you could be mistaken that i was upset. i'm not. i
just don't want to break one of the only flows of insider information that
i
have left -- even if it's into a has-been.
but while i have you gravelling, you could do something for me. i just got
a
call from my old boss at enron and he is looking to hire someone as a
consultant who specializes in humor writing. they want to try a humorous
approach in taking on the monopoly utilities in the battle over electricity
deregulation. do you know anyone in the clinton administration who has been
responsible for some of the president's humorous speeches? or anyone that
fits this bill? what about your brother? it seems like i read a profile of
one of them recently who was leaving. the only republican i can think of is
landon parvin who has been around forever.
-----Original Message-----
From: Halperin, Mark [mailto:[email protected]]
Sent: Wednesday, November 29, 2000 8:49 AM
To: 'Foster, Gary'
Subject: RE: We have a leak
two people here did stupid things (first me, by in a hurry giving
instructions to my colleague about what to do with the information;then my
colleague for sending it to somebody untrustworthy)
so: i apologize...being in a hurry is no excuse for being careless.....
here's the silver linings:
1. gma seems to have gotten it some other way later in the day, so from
there point of view, they aren't focused on where it came from
2. there is literally no one at abc who knows i know you
3. i give you my word that i will never be at all careless with anything
from you again, and won't let even one person have access to
emails/information from you...the person in this case doesn't know it came
from you (or jb for that matter, since i had already taken her name and
your
name off of it)
again, i'm sorry.....i have zero tolerance for such carelessness, and
pleading being overwhelmed with work on the story is no excuse
ps: i hope you saw jamie's interview...it was priceless
-----Original Message-----
From: Foster, Gary [mailto:[email protected]]
Sent: Wednesday, November 29, 2000 8:37 AM
To: Halperin, Mark
Subject: FW: We have a leak
when i said 'pass along', i only meant the information, not the entire
email. i'm not going to fess up if you and everyone else who has it doesn't
reveal their source.
-----Original Message-----
From: Jean Becker [mailto:[email protected]]
Sent: Tuesday, November 28, 2000 7:33 PM
Subject: We have a leak
Everyone at ABC has a copy of the last e-mail I sent everyone concerning
President Bush's appearances on the morning shows tomorrow.
We have a leak.
I suspect someone in total innocence is forwarding my e-mails to friends
and
family, etc. I need for all of you to take a very careful look at your
forwarding lists and think about where this leak might be. If you think
you
know where the leak is, please, please let me know.
If we can't find it, these e-mails will cease and desist.
Jean
P.S. In case you were wondering, yeah, ABC is not happy. |
-----Original Message-----
From: Bhatia, Randy
Sent: Wed 2/13/2002 12:48 PM
To: Scott, Susan M.
Cc:
Subject: FW:
-----Original Message-----
From: Holst, Keith
Sent: Thursday, January 10, 2002 10:52 AM
To: Bhatia, Randy
Subject:
<< Untitled >> << FW: >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << FW: >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << Untitled >> << FW: >>
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 9:05:35 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: '[email protected]'
Date: Wednesday, December 12, 2001 8:28:03 GMT
Subject:
-----Original Message-----
From: Eric Fischesser
Sent: Wednesday, December 12, 2001 3:23 PM
To: David Neal
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:24:34 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:22:00 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:12:36 GMT
Subject:
<<Enron price sheet2.pdf>>
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:08:04 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 8:04:09 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 5:23:31 GMT
Subject:
<<Enron price sheet2.pdf>>
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 5:30:00 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Wednesday, December 12, 2001 3:59:38 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 2:13:25 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 3:52:58 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 4:08:34 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: '[email protected]'
Date: Thursday, December 13, 2001 5:24:05 GMT
Subject:
-----Original Message-----
From: Eric Fischesser
Sent: Thursday, December 13, 2001 12:13 PM
To: David Neal
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 9:14:45 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Thursday, December 13, 2001 9:55:01 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 1:54:44 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 3:57:10 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 4:35:21 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 4:50:50 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Friday, December 14, 2001 7:45:43 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Monday, December 17, 2001 2:00:45 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Tuesday, January 8, 2002 4:44:30 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Tuesday, January 8, 2002 8:03:57 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: Holst, Keith </O=ENRON/OU=NA/CN=RECIPIENTS/CN=KHOLST>
Date: Tuesday, January 8, 2002 9:02:42 GMT
Subject:
--------- Inline attachment follows ---------
From: <[email protected]>
To: '[email protected]'
Date: Tuesday, January 8, 2002 9:57:43 GMT
Subject:
-----Original Message-----
From: Eric Fischesser
Sent: Tuesday, January 08, 2002 4:53 PM
To: David Neal
Subject: |
Jeff;
In response to your questions, I cannot explain why everyone missed this
bill in the past, I have raised it to the attention of my clients twice in
the last two months. However, now that it is moving they have got the
message. Williams (Kern River) is going to host a meeting today to create a
coalition to oppose the bill. Bev Hansen knows where the meeting will take
place. In addition to Williams, I understand that Questar, WSPA, and other
retail customer groups will join the coalition and oppose the bill. My
client Wild Goose will also be listed in opposition, but they don't carry
that much clout or name recognition so far. I am hopeful that other groups
will surface soon.
As for the bill itself, the problem is two fold. First, the CPUC decides
what infrastructure to build at the request of the utilities. They take
input from customers, but Loretta is a command and control type all the way,
and she will try to scare away private capital investment by interstate
pipelines by mandating that the utilities build a gold-plated
state-regulated system. While the bill does not (and cannot legally) bar
interstate pipelines from coming into the state, it has provisions which
will prevent large customers from signing up with the interstates. The
large customers have to commit to take firm service on a 5 year basis with
exit fees. If they don't take this, they can only get interruptible service
from the utilities. Many if not all large customers, especially generators
cannot afford to take partial service from an interstate and have only
interruptible access to the LDC system. This is the same dilemma that the
RLS tariff caused. My belief is that the obligation on the part of the
commission to provide the utilities with cost recovery for the new
investments will be used as justification by the utilities for another
attempt to reinstitute the RLS tariff or an onerous peaking rate. The
Commission will impose a premium price on service to customers who have not
undertaken the firm 5 year commitment and will therefore be unable to
economically take partial requirements service from an interstate. My view
is based on Sempra's reaction to the current peaking rate proposed decision
and statements by Lynch's office. This could interfere with Enron gas sales
over the interstates, and would certainly threaten any Transwestern plans
for building across the border into California, although that does not
appear to be a high priority at this time. This bill will also make it more
costly to develop gas supply arrangments for new power plants which had
hoped to direct connect to interstate pipeline capacity for a portion of
their needs.
Please call if you have further questions. Mike Day
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, July 17, 2001 10:09 AM
To: [email protected]
Cc: [email protected]; [email protected];
[email protected]; [email protected]; [email protected]
Subject: Re: AB 23XX Bad Bill Alert
I've taken a quick look at the bill and have attached for easy viewing.
Few questions.
Mike,
I understand from our conversation yesterday that your following this on
behalf of Questar. Do we know if the other pipelines have been active
in any discussions on this bill?
What about the generators? Have then been involved, since presumably,
their in need of lots more capacity (and they're referenced in the
bill)?
What about large customers? They been screaming for more
infrastructure, too, and many have blamed SoCalGas (and the PUC) for not
delivering it.
Do we know if pipelines, generators, large customers are supporting or
opposing the bill? I'll try to check around, too, in between the
electric mayhem.
There doesn't seem to be anything in the bill that prevents the
interstates from building into the state.
If that's true, wouldn't the PUC take those projects into account when
doing its analysis and only require the utility to construct (and
noncore to take) capacity that isn't already being met by others (i.e.,
interstates) bringing pipe into the state?
Any info you can provide on these fronts would be very useful. Don't want
Enron too far out in front of opposition until we find out a bit more
regarding 1) whose fer and agin it and 2) analysis of what the bill
actually does/does not do.
Thanks again for the heads up.
Best,
Jeff
(See attached file: 23XX.pdf)
James D
Steffes To: Harry
Kingerski/Enron@EnronXGate
cc: Jeff
Dasovich/NA/Enron@Enron, Susan J
07/17/2001 Mara/NA/Enron, Paul
Kaufman/Enron@EnronXGate
07:43 AM Subject: AB 23XX Bad Bill Alert
Harry --
Can you track down this bill and determine impact? We'll discuss on
Thursday.
Jim
---------------------- Forwarded by James D Steffes/NA/Enron on 07/17/2001
07:43 AM ---------------------------
MDay <[email protected]> on 07/16/2001 06:03:33 PM
To: "'Bev Hansen, Enron lobbyist'" <[email protected]>, "'Hedy Govenar,
Enron Sacto lobbyist'" <[email protected]>, "'Scott Govenar, Enron
lobbyist'" <[email protected]>, "'Harry Kingerski'"
<[email protected]>, "'Jim Steffes, Enron'" <[email protected]>
cc:
Subject: AB 23XX Bad Bill Alert
Is AB 23XX moving with a chance of passage? I just learned that this
Pescetti bill that was AB 1425 was revived as a 2X bill. It is very
anti-competitive, and could hurt a number of TW, EES, or ENA gas deals by
binding customers to 100% utility service through the imposition of large
exit fees by the CPUC. If there is a chance that it moves, we need to
discuss the effect of this bill. Mike Day
http://info.sen.ca.gov/pub/bill/asm/ab_0001-0050/abx2_23_bill_20010625_amend
ed_sen.pdf |
On November 8, the Office of the Chairman, issued an important communication,
announcing significant organizational changes in Enron's worldwide
operations. The purpose of this memo is to share with you the decisions that
are underway to restructure Enron,s operations in South America. The basic
organizational framework has been set.
As you know, Diomedes Christodoulou and Jim Bannantine will be assuming new
responsibilities within Enron. Replacing them will be Orlando Gonzalez and
Joe Kishkill, who will become the Co-Presidents of South America, reporting
to Dave Delainey and John Lavorato. They will share overall responsibility;
however, Orlando,s focus will be on direct sales origination,
commercial/government relationships and regulatory issues. Joe,s focus will
be on wholesale origination, financial and operating performance and overall
country management. In addition, Orlando will continue as President and CEO
of Elektro until its ultimate sale.
The existing, large integrated asset base in South America (excluding
Elektro) will be managed and operated by Rebecca McDonald and Jim Hughes in
Enron Global Assets, which is part of Enron Wholesale Services under Mark
Frevert. Ultimately, there will be very close coordination in both Brazil and
Argentina between Enron Americas and Enron Global Assets to ensure that our
reputation in South America is protected, our asset positions are being
managed prudently and that commercial opportunities surrounding these assets
are pursued.
The remaining natural gas and electrical commercial activities in South
America will be organized around the highly successful North American network
business model. This model employs people, market making, physical
commodities, capital and assets to provide reliable, flexible and high-value
products to our customers. It is people and intellectual capital based and
enjoys high rates of return on invested capital.
In the interest of pursuing this strategy, the following teams will report to
Joe and Orlando:
The Commercial Origination team will be lead by Brett Wiggs. The team will
focus on covering South American markets, primarily Brazilian and Argentine
natural gas and electricity, with the following goals:
? Generating new, innovative, reliable and high value products and services
needed by the market by utilizing our commodity, asset and capital
capabilities;
? Providing those products and services across South America and across the
value chain, including wholesale and retail, based upon the highest value
opportunity;
? Finding structural value arbitrages in the South American market and move
quickly to capitalize;
? Assisting the Risk Management and Trading organization in managing the
overall risk of the organization;
? Managing all new power and asset development opportunities in South America
consistent with this strategy, and
? Providing the Risk Management and Trading organization information and deal
flow.
The Commercial Origination team will consist of a diverse group of people who
work as a single team which bring the required skills including commodity,
capital, regulatory, asset, development, market, structuring, deal execution,
finance and country knowledge necessary to reach our goals.
The Trading and Risk Management team will be headed by Remi Collonges. The
team will continue to develop pricing information and manage the price book
for the relevant energy markets in support of the wholesale and direct sales
efforts. Additionally, the team will work toward implementation of actively
trading South American energy commodities. This group will be responsible
for managing Enron South America,s overall risk and will have a direct
reporting relationship with John Lavorato in his role as head of the Americas
risk activities.
The Argentine effort will be integrated into the overall South American
Commercial Origination and Trading and Risk Management groups; however, we
will continue to maintain an Argentine office headed by Michael Guerriero.
The goal of the reorganization is to create a flat team oriented organization
that is very market and commercially focused. The following support
functions will assist the overall business objectives of the commercial team
and will report into Joe and Orlando, plus into their line functions in
Houston. The overall goal is to ensure that the South American business
units have an adequate support organization to evaluate opportunities, as
well as manage day-to-day business and risk. Otherwise, the Houston
infrastructure will provide resources as needed to manage peak requirements
in South America, not unlike other businesses in Enron Americas.
These groups include:
The Government Affairs team, which will be headed by Sergio Assad, will
manage the relationships with the relevant regulatory agencies as well as
governmental ministries. The primary regulatory goal will be to facilitate,
in the near term, substantive changes to the regulatory rules to allow a
functioning wholesale traded market in Brazil and Argentina. Sergio will
assume his responsibilities upon completion of the Elektro sale. During this
interim period, Jose Bestard will continue to be in charge of the regulatory
function. Once Sergio makes the transition, he will also report to Rick
Shapiro in Enron Government Affairs.
The Finance team will be headed by Britaldo Soares. The team will manage the
interface with Enron Global Finance. Britaldo will transition from his
current duties at Elektro upon completion of the Elektro sale. Britaldo will
also report to Joe Deffner in Enron Global Finance. Rob Gay will be
assisting Britaldo during the transition, while continuing his work on the
Cuiaba project.
The Legal team, which will be lead by Randy Young, as general counsel, and
John Novak, as deputy general counsel, will manage South America,s legal
requirements. Randy and John will also report to Mark Haedicke in Enron
Wholesale Services - Legal Department.
Miguel Padron will become Chief of Staff. Human Resources, Information
Technology, Treasury, Accounting & Reporting, as well as Administration will
report to Miguel. This will bring focus to essential, but non-commercial
functions, as well as more efficiently manage key matrix reporting
relationships with Enron. Miguel will also report to David Oxley in Enron
Wholesale Services ) Human Resources and Wes Colwell in Enron Wholesale
Services ) Business Analysis and Reporting.
These changes are consistent with Enron's evolving business strategy and
reflect our continuing commitment to grow the company by maximizing our
financial and intellectual capital. However, in line with the new
organizational structure and the near term potential for business in the
region, further budget reductions will be necessary. People directly
affected will be notified shortly.
Enron is committed to continue the successful implementation of its
businesses in South America. We believe that as the markets develop, we are
uniquely positioned to leverage Enron,s core capabilities and create
shareholder value. |
Dear William:
I hope that you are well.
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1. Northwestern University School of Law (cum laude) graduate has over 4 years experience working on computer software, intellectual property and internet related issues, with particular emphasis on e-commerce and complex licensing. This very highly regarded attorney seeks a corporation or financial institution that needs in house counsel for domestic and/or international tech law matters. Midwest preferred.
2. Currently a Managing Director of a major investment bank, this prominent attorney has also served as one of the top partners at an elite, blue-chip law firm. The attorney seeks new challenges as a GC/CFO/VP of Business Development at a media, telecommunications or related company. An awesome talent who has been extremely successful at each stage of their career.
3. A truly uniquely credentialed attorney who graduated Stanford Law School and has a graduate degree from Columbia, this candidate is also a shared recipient of the Pulitzer Prize for investigative reporting and writing. Currently a litigator at a top law firm, this attorney has the intelligence, writing ability, and work ethic to enhance any company's litigation department. Fluent in Spanish.
4. Georgetown Law Center (cum laude) and Stanford undergraduate has over four years experience advising both private and public companies on general business/corporate matters as well as venture and debt financings, licensing, mergers and acquisitons, and public offerings. Terrific experience in securities and corporate counseling. Available either in California or East Coast.
5. A talented attorney with over eight years experience doing project finance and lending, mergers and acquisitions, and capital markets transactions at two very prominent law firms. This Russian speaking attorney has represented investors, lenders, and multilateral agencies in power, energy and natural resources industry sectors, as well as financial services, IT and telecom clients in a wide variety of m & a matters.
6. This 1996 graduate of a highly regarded law school has over five years of solid general corporate experience. Great drafting skills and superb presence, this candidate will be a very welcome addition to any in house legal staff that seeks an intelligent, hard working and very well trained corporate generalist.
7. Attorney who graduated first in his law class is practicing corporate restructuring and reorganization at one of New York's premier law firms. Four years experience in all aspects of distressed debt transactions, including asset sales, plans of reorganization, asset-based financings, cross-border insolvency issues and strategic distressed acquisitions. Seeking in-house or investment banking position.
8. Yale Law School, Princeton University (magna cum laude). Senior VP of one of top financial institutions in the world, this attorney has played a leading legal, business, integration and managerial role in acquisitons, joint ventures, equity investments and divestitures. Also has broad epxerience in securities law at a top law firm. Very well spoke and personable, this candidate is interested in a senior business/GC type position. NY metro area.
9. Yale University (magna cum laude), Harvard Law School (cum laude) candidate with three years transactional experience at premier law firm before leaving to become general counsel at a new media company. Has broad corporate, real estate and and technology experience. Exceedlingly smart, conscientious, and energetic. This candidate will be an enormous asset to any company that hires him. Wants NY area only.
10. UChicago Law School, over five years extraordinary experience at both a top law firm and a premier incubator. Practice areas include corporate, securities, intellectual property, mergers & acquisitions, venture capital financings and technology. Dynamic, very highly regarded attorney also speaks mandarin chinese. Wants in-house or legal/business position in Southern California only.
This is just a very small sample of the attorney/candidates that we work with. We can of course tailor our search to meet any specifications that you wish. Feel free to call us to discuss our service, or to refer us to a colleague that might be interested in hearing more about us, or to obtain references from our clients. I hope I will be speaking with you soon.
Thank you for taking the time to consider our service.
--
Steven J. Greenberg, Esq.
Managing Partner
Glocap Legal Search LLC
Carnegie Hall Tower
152 West 57th Street, 27th Floor
New York, New York 10019-3310
212-333-6431 phone
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[email protected]
www.glocaplaw.com
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Tel: (212) 333-6431
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*** Glocap provides financial, legal and technical recruiting to private equity firms, their portfolio companies, and Fortune 1000 companies. http://www.glocap.com ***
*** Forbes selected Glocap as its "Favorite Headhunter" in its Best of the Web issue published in Spring 2001. Click on http://www.forbes.com/bow/b2c/review.jhtml?id=2812 for more details. Glocap is also the exclusive career partner of Venture Economics (publisher of Private Equity Week, VC Journal, Buyouts, The IPO Reporter, etc.) and the Daily Deal. *** |
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 |
To signatories to the Comprehensive Settlement for SoCalGas & SDG&E:
A few more "errata" I plan to make, absent objection:
A. Creditworthiness Sections (1.2.3.2 and 2.2.3.2):
In 1.2.3.2 on p.21, under b., subitem ii. should have "or" inserted at the
end of the subitem and the "or" at the end of subitem iii. should be
stricken (so that the reports or forms listed in i., ii., and iii. are
alternatives to each other (customer only has to provide one of the three)
and subitems iv. and v. are additional required items).
In 2.2.3.2 on pp.36-37, make parallel changes in the "or"s as stated above.
On p.22, under h., subitems i. through v. should be indented more than h.
and then items j), k) and l) should be renumbered i., j., k. (this will then
match section 2.2.3.2, which has the correct spacing/alphanumbering).
On p.22 and p.37, we'd like to drop the reference to "U.S." in the reference
to a letter of credit issued by a major "U.S." financial institution.
SoCalGas has realized that it has already had dealings with Canadian or
other foreign-owned customers where it was reasonable to rely on letters of
credit from major financial institutions of the parent's country. (This
should be ok with Paul Amirault, eh?)
B. Btu content
On pp.10 (twice) and 31, the settlement says we are assuming 1,016 Btu/mcf
for the heating value of gas (subject to revision by Commission during term
of settlement). We have the wrong units. It is 1,016 Btu per cubic foot,
not per thousand cubic feet. We'd propose to change the number to 1,016
Btu/cf (not "1,016 Btu/mcf") On p.33, we got the units right the first time
and don't need to change them on that page.
Again, I'd appreciate you getting back to me or Brian Cherry by noon Friday
if you have any problem with the above changes.
-- Glen Sullivan
-----Original Message-----
From: Sullivan, Glen J.
Sent: Wednesday, April 26, 2000 12:58 PM
To: 'MBD'; 'Leslie, John'; 'Elsesser, Evie'; 'McCrea, Keith'; 'Pocta, R.
Mark'; 'Dasovich, Jeff'; 'Beach, Tom'; 'Burkholder, John'; 'Amirault,
Paul'; 'Alexander, Michael'; 'Chancellor, Craig'; 'Dingwall, B.';
'Douglass, Dan@SES'; 'Fawcett, Jeff'; 'Porter, Doug'; 'Rochman,
Michael'; 'Counihan, Rick'; 'Bayless, David'; 'Paul, Joe'; 'Jimison,
John'; 'Foss, Robert'; McVay, Nancy W - TPNWM; 'Scott, Susan'; 'Karp,
Joe'; 'Johnson, Pamela'; 'gileau, patrick'
Cc: Lorenz, Lad - TPLPL; Nelson, Eric B. - TPEBN; Morrow, Rick - TP3RMM;
Follett, B. David - TPDBF; Brill, Thomas R.; Van Lierop, Jan - TP2JXV;
Harrigan, James P. - TP1JPH; Sakarias, Wayne P.; Purves, Ralph A.;
Teeter, James S.; Watson, Steven - TP2SAW; Cherry, Brian - TPBKC;
Whitaker, Sue
Subject: RE: Gas Industry Settlement
To signatories to the Comprehensive Settlement:
ALJ Biren has given us until Friday of this week (April 28, 2000) to file
"errata" to the Comprehensive Settlement.
So far, I am planning to make the following non-substantive changes:
1. The table of contents was seriously messed up by an "automatic update"
feature in Word just before we duplicated and filed. I will be putting it
back to the state you saw in the final draft.
2. On p.7, section 1.12, put a period at the end of the last sentence.
3. On p.9, section 1.1.3.1, two thirds of the way down the page, I will be
changing "subject to adjustment annual by the base rate PBR formula" to
"subject to adjustment annually by the base rate PBR formula".
4. On p.27, section 1.5.4, in the third full paragraph on the page, I will
be changing "If only one customer has an OFO day" to "If only one customer
class has an OFO day".
5. Also on p.27, section 1.5.4, bottom line on the page, I will be filling
in the blank with "C" (so it reads "Appendix C")
In the category of "maybe substantive",
1. On p.10, section 1.1.3.2, three lines from the bottom of the page, the
date "October 1, 2000" would be changed to "October 1, 2001". This sentence
refers to including the cost of backbone transmission for core customers
buying gas from SoCalGas in the "procurement" rate. Obviously, our intent
was to do that only once we had unbundled backbone transmission, which
happens on October 1, 2001.
In the category of "substantive":
1. Our capacity term sheet had said that we would unbundled "additional"
(non-reliability) storage for CTAs effective upon implementation of the
settlement (See p.4). The filed settlement managed to drop the section that
provided for this option for CTAs prior to the principal storage change on
April 1, 2001. (The filed settlement is ok for the period starting April 1,
2001). So, to be consistent with the term sheet, we need to insert
something back into the settlement to allow CTAs to opt out of
non-reliability storage in the period from the effective date (90 days after
approval) to April 1, 2001. Obviously, this may not be a very long period.
John Leslie has suggested inserting at the very beginning of Section
5.4.4.3: "In the partial storage year beginning on the effective date of
this Settlement Agreement, and....[continue with current text]." We would
need to cover as part of implementation filings the exact mechanism/pricing
for SoCalGas purchasing gas in storage owned by CTAs if they opt out of
nonreliability storage prior to April 1. 2001. SoCalGas and SDG&E are ok
with John's language and want to make sure it is ok with other signatories.
If you have any problems with any of these changes, please contact me or
Brian Cherry by noon on Friday, April 28. My email is [email protected]
and my phone is (619) 699-5162. Brian's email is [email protected] and
phone is (213) 244-3895.
We are looking at the possibility of two or three additional changes, and
Brian may send you a follow-up message.
-- Glen Sullivan
Sempra Energy Law Dept. |
[IMAGE] Forums Discuss these points in the Forums: Forexnews Forum Technicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek Technical Research Ltd. Charts & News featuring Standard & Poor's Interest Rates US: Japan: Eurozone: UK: Switzerland: 1.75% 0.15% 3.25% 4.0% 1.25-2.25% [IMAGE] [IMAGE] JPY Cools on Jawboning, Bewildered USD Awaits Data March 8, 7:00 AM: EUR/$..0.8783 $/JPY..128.15 GBP/$..1.4253 $/CHF..1.6728 JPY Cools on Jawboning, Bewildered USD Awaits Data by Jes Black At 8:30:00 AM US Feb Payroll Employment (exp 9k, prev -89k) US Feb Unemployment (exp 5.7%, prev 5.6%) US Feb Avg Hourly Earnings (exp 0.3%, prev 0%) US Feb Avg Work Week (exp 34.2%, prev 34%) The dollar recovered to back above 128 yen after Thursday's record four-yen decline and rebounded one half cent against the euro from an overnight 6-week low of 88.40. Further gains in the Nikkei today had little effect on the yen and trade was subdued ahead of key US jobs data due at 8:30 AM. Japanese official, Kuroda, said the Finance Ministry would take action against rapid currency fluctuations. This helped the dollar come off recent lows. However, it lacked urgency as BoJ Governor Hayami said he was not worried about current FX levels. Instead, Hayami gave credit to the recent move as part of the BoJ's monetary policy easing last week. Dealers also suspected the government's top priority is to keep stocks strong ahead of fiscal year-end bookclosings as dealing with a financial crisis would be worse than the effects of a stronger yen. USD/JPY is now supported at 127.75, which marks the 38.2% retracement of the 115.75-135.15 move provided a solid base for a corrective rally in the pair. However, speculators who had been on the sidelines have poured in to go long the yen. Therefore, USD/JPY could still target 125.28, the 50% retracement of the same move. More importantly, the yen is approaching its 200-day moving average of 125 for the first time since November. Meanwhile, the government's resolve to boost Japanese assets ahead of March 31 is likely to fend off any negative news that comes its way. Case in point was today's 2% rise in the Nikkei despite Japan's Q4 GDP which fell 1.2% q/q and was the first time in nearly a decade that output had fallen three quarters in a row. The figure attracted little attention and instead, talk of a global recovery has sparked a wave of foreign money coming into Japan as large American banks have announced their repositioning in favor of Japanese shares. Japanese banks are pinning their hopes on the stock market holding onto recent gains, at least until the end of the fiscal year end on March 31, when they book their massive stockholdings at market value. If players can hold the Nikkei at 12,000, banks could slash latent stock losses by trillions of yen, help improve their capital adequacy ratios and keep them solvent. However, this would still not solve their fundamental problems. Therefore, there still remains doubt as to whether the Nikkei can maintain its recent gains after the March 31 fiscal year end and whether the spectacular rise in yen on speculative trading will come undone over the next few weeks. BoJ Governor Hayami alluded to this today when he said he expected the market to be stable through the end of March, but did not say what could happen afterwards. USD/JPY fell nearly 5% this week alone, while EUR/JPY fell only 3%. This gap has been filled by the 2 cent rise in EUR/USD and supports the notion that rise in the yen is strictly a Japan-driven play rather than a global growth-driven play. The enforcement of anti-short-selling laws in Japan and the rebound in the Nikkei enhances the yen repatriation play. EUR/USD fell to a day's low of 87.80 as it retreated from an overnight high of 88.40. On Thursday, the market ignored the European Central Bank's decision to keep rates steady at 3.25%. Markets had anticipated the central bank would take no action due to growing signs of Eurozone economic recovery and rising inflationary pressures. But despite the recent rise in EUR/USD, the dollar's weakness is primarily contained to the yen. Nevertheless, the euro is still threatening to take out 88.10 cents, which is the 50% retracement of this year's move 90.63 to 85.63. From there, the euro faces its next resistance at 88.50. Support is viewed at 87.0, backed by 86.65 and 86.30. The pound was also steady against the dollar around 1.4250 after whipsawing between a 1-1/2 week high of 1.4313 against the dollar, and a 2-session low of 1.4184 cents. Resistance is still seen at 1.4300 and the 200-day moving average of 1.4333, followed by 1.4370 and 1.440. Support holds at 1.420, 1.4170 and 1.4130. Traders will watch today's US labor report for signs that the recession is taking less of a toll on the workers. The labor market is expected to begin a service production recovery while manufacturing payrolls will continue to contract. US employment labor report is expected to show the creation of 5K to 10K in non-farm payrolls, though some private forecasts expect the creation of 100K. The unemployment rate is expected to rise to 5.8% from 5.6%, while average hourly earnings are seen up 0.3% from 0.0%. [IMAGE] Audio Mkt. Analysis Yen Soars 3.5% vs USD Articles & Ideas Yen's March Madness Will Dollar be Fuelled against the Euro? Articles & Ideas Forex Glossary Economic Indicators Forex Guides Link Library [IMAGE]
[IMAGE][IMAGE] [IMAGE][IMAGE]
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From: Harry Kingerski@ENRON on 03/06/2001 09:02 AM
To: Susan J Mara/NA/Enron@ENRON, Jeff Dasovich/NA/Enron@Enron, James D
Steffes/NA/Enron@Enron, Paul Kaufman/PDX/ECT@ECT
cc: Fred L Kelly/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Dave
Roberts/HOU/EES@EES, Gary Weiss/HOU/EES@EES, Scott Stoness/HOU/EES@EES,
Jubran Whalan/HOU/EES@EES, Neil Bresnan/HOU/EES@EES, Leslie
Lawner/NA/Enron@Enron, Robert Frank/NA/Enron@Enron, Scott Gahn/HOU/EES@EES
Subject: AB31X - Response Needed
Mike Day left me a message saying in discussions yesterday on AB 31X
(Wright's load curtailment bill), the utilities were making the point that
31x should only address bundled customers since the utilities were making the
incentive payments out of funds that would otherwise go to pay DWR (in
effect, the curtailments are reducing the utility net short position). They
were ok with having ESPs aggregate the loads of bundled customers (which will
be a very significant win, if we get it). They think DA customers can get
curtailment benefits through existing (and new) ISO programs.
The dilemmas are:
the ISO programs may or may not be finalized for this summer and may or may
not give incentives that are as beneficial as AB31X the utility plan
discriminates against DA ( The ISO program definitely does not sound as
beneficial as AB31X. I have a call into the ISO, the last I heard was that
the Demand Relief Program was the closest product they had to being finalized
)
preferably, the ISO would administer the programs described by AB31X for all
customers but that puts the ISO in the position of having to get approvals
from FERC for a CA-legislated program (they will have to do this anyway)
(nearly) all of our customers will be bundled this summer anyway, so there's
no immediate loss from going with the utility's position
We owe Mike an answer today. Any thoughts? My suggestion at this point is
to stick with the high road and argue for non-discriminatory treatment with
equal incentives paid to bundled and DA customers. At this point a
non-discriminatory treatment with equal incentives is the only way you are
going to get participation.
Background: AB31X would give $500/mwh incentives for day ahead curtailment,
$750/mwh incentives for day-of curtailments, and incentives to be determined
for scheduled load reductions. The ISO would invoke the programs based on
system conditions. These prices seem reasonably priced and should definitely
persuaded customers to participate.
The ISO so far has put in place the equivalent of a scheduled load reduction
program, with specific payments, but has not finalized any day ahead or day
of programs. The current proposed ISO Programs outlined Below
Program 1)
Demand Relief Program
The customer will curtail prior to stage 3 rotating blackout. Loads without
back-up generators can be curtailed up to 24 hours per month and loads with
back-up generators can be curtailed a total of 21 hours for the duration of
the program. The duration of the program is scheduled for June 1 through
September 30.
There will be a fixed monthly capacity reservation payment, adjusted based on
actual average monthly performance, and a performance energy payment that
will be made for each curtailment. The performance energy provides incentives
for over performance and penalties for under performance. Additionally, loads
that don't perform will be penalized through loss of a portion of their
capacity payment. Settlement will occur through SC's/Aggregators separately
from the normal retail billing process. The reservation price is preset at
$20,000 per MW-month and the curtailment performance payment is $500 per MWh.
Eligibility for this program is still being worked out. Currently loads that
were served under an interruptible tariff in 2000 were not allowed to
participate in the February 6 submittal for the Summer 2001 program. ISO
management may open, subject to board approval, the Demand Response Program
to a subsequent bids from PG&E and possibly SCE interruptiple customers that
have exhausted their required 2001 curtailments, pending CPUC rulemaking on
interruptibles.
As soon as the board approves in the program, which is expected in days, the
ISO will initiate a major activity immediately to have all participants ready
by May 15 to establish the 10 day baseline for performance measurement.
Program 2)
ISO Discretionary Load Program
Intent of this program is to attract significant voluntary curtailments
before the ISO enters emergency conditions. This program provides a set
energy-only payment of $250/MWh. This provides the ISO a Known curtailment
comminment.
Notifications will be sent to SC's/Aggregators when the ISO issues warnings
and anticipates a stage 1 emergency, typically early morning. There will be
60 to 90 minutes for the SC's/Aggregators to issue their voluntary
curtailment notices and firm-up the actual block of curtailment available to
the ISO. This Program will operate through March 2002. ISO plans to accept
proposals from aggregators starting on February 28-March 7th.
Payment will be based on an as-delivered basis with a preset payment per
MW-hour. ISO is considering several options on where to set there price
range. One proposal is $250MWh-$500MWh. There is no capacity or reservation
payment.
Program 3)
ISO Participating Ancillary Services Load Program
This allows loads to bid into the A/S and supplemental energy market. The
program allows loads to participate as price-responsive demand in the ISO A/S
market and Supplemental markets. This market has been extended indefinitely
as part of the semi-annually filing to FERC in the ISO tariff.
As an amendment to the tariff the ISO is making the following changes. The
telemetry requirement has also been relaxed some for loads bidding into the
supplemental energy market. Loads bidding into the Non-spinning and spinning
reserve will still require telemetry. Loads can bid in above the $150 cap but
must have cost justification for bids selected above the cap.
Jubran |
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----- Forwarded by Gerald Nemec/HOU/ECT on 05/18/2001 01:58 PM -----
"Gillaspie, Eric" <[email protected]>
05/18/2001 01:51 PM
To: "'jonathan gillaspie'" <[email protected]>
cc: "'[email protected]'" <[email protected]>, "Jennifer Gillaspie
(E-mail)" <[email protected]>, "Jeff Gillaspie (E-mail)"
<[email protected]>, "Sandra Gillaspie (E-mail)"
<[email protected]>, "Rodger Gilllaspie (E-mail)"
<[email protected]>, "Gerald Nemec (E-mail)"
<[email protected]>
Subject: RE: new e-mail addy
Brudda,
I spoke with Jenn about accommodations in Beijing as well as Shanghai and
she said her dad is also getting some info from a local Chinese travel
agent. How about dropping Dan a line and working with him to recommend &
book everyone's hotel. His e-mail address is: [email protected]
I believe part of the group is looking to Jon and the other part is looking
to Dan to make their accommodations for them. I hereby anoint the two of you
to make the lodging decisions for everyone else, as we are drooling cows
with no direction or relevant info. Therefore, the two of you need to get
together and decide on a hotel (for Shanghai & Beijing), so we can all be
together and don't have to coordinate getting together everyday in freakin'
China (i.e. nightmare). Jon maybe send an e-mail to Dan suggesting a few
hotels/price/level of accommodations/etc./your recommendation/ and then you
two make the call and book it for us.
I think the "core" group we should worry about getting
reservations/accommodations is as follows:
Shanghai: (arrival on the 5th, Jenn, Eric, Heather, Gayle, Dan, Gerald,
Barbara) 7 people-3 rooms for the night most likely (Jon you can crash in my
room)
Mom & Dad & aunt Jean and Kid arrive on the 6th (2 more room)
Jeff and Cathy arrive on the 7th (1 more room)
8th we all fly to Qing dao, hotel in Qing Dao is selected and booked
Beijing - Everyone listed above is traveling to Beijing as a group.
As far as getting rooms for the other people (Staters, Rassmussen's, etc),
that's your call, but we are operating without any real good info. I'd say
they are on their own as we don't know when they get in, what their plans
are, etc? If it's no big deal reserving rooms and not getting dinged if
noone shows up then maybe get a few extra rooms at certain places, I don't
know the Chinese hotel system, level of $$ exposure, hotel availability,
etc., its your call, I'd assume they can probably get a room no problem so
let's not try to coordinate more people than we have to, they can sleep on
my floor if they can't get a room in China....
This is what is called Wedding planning lotus bliss...
We are all looking forward to this...
-----Original Message-----
From: jonathan gillaspie [mailto:[email protected]]
Sent: Friday, May 18, 2001 4:20 AM
To: Gillaspie, Eric
Subject: RE: new e-mail addy
Eric,
Thanks for the info. Will book flight for June 8th and find suitable lodging
in Shanghai. Do you want me to line up lodging in Beijing for you and the
rest of the entourage?
Let me know, and I'll finish this madness while I'm in Qingdao this weekend
with our friendly travel agent chum, Zang Bao Guo. Take care.
Chazow,
Jonny Luv
>From: "Gillaspie, Eric" <[email protected]>
>To: "'jonathan gillaspie'" <[email protected]>
>CC: "Jeff Gillaspie (E-mail)" <[email protected]>
>Subject: RE: new e-mail addy
>Date: Wed, 16 May 2001 10:29:27 -0500
>
>Arrive in Shanghai on the 5th:
>Gerald Nemec
>Barbara Waldrop
>Gayle Junk
>Dan Junk
>Heather Junk
>Jennifer Gillaspie
>Eric Gillaspie
>
>Arrive in Shanghai on the 7th:
>Jeff Gillaspie
>Cathleen Clarke
>
>
>I presume we'll all fly out to Qingdao together on the 8th in the morning.
>We do need help getting hotels in Shanghai, maybe something around the
>touristy areas, or whatever you suggest.
>
>-----Original Message-----
>From: jonathan gillaspie [mailto:[email protected]]
>Sent: Tuesday, May 15, 2001 8:09 PM
>To: Gillaspie, Eric
>Subject: Re: new e-mail addy
>
>
>Dear Eric,
>
>Congrats on the new job. I've been e-mailing/harassing you for over one
>week
>
>now trying to get some much needed info out of you concerning the upcoming
>trip. I was beginning to get a little freaked-out: like you'd been
>kidnapped
>
>or something. Unfortunately, my information requests coincided with your
>job
>
>change and you probably never even got the messages. Fuckin great, man.
>
>Anyway- as you may well discern: I'M IN SUPER FREAK-OUT MODE. Please assist
>me in obtaining the correct spellings of everyone's names in your
>entourage.
>
>I'm trying to book flight tix for everybody from Shanghai>Qingdao. For
>example, I don't even know Gerald and Barbara's surnames. I would also like
>you to confirm the spellings of the Junk family's names.
>
>Two more things. Do you want help finding lodging in Shanghai? Do want me
>to
>
>go ahead and book hotel rooms in Beijing for your entourage post-wedding?
>Let me know what you want me to do.
>
>Looking forward to your repsonse. Hope the new job is a good fit for you.
>Sorry to dump my load of stress on you. Take care.
>
>Love,
>
>Jon Gillaspie
>
>
> >From: "Gillaspie, Eric" <[email protected]>
> >To: "'[email protected]'"
> ><[email protected]>, "'[email protected]'"
> ><[email protected]>, "'[email protected]'"
> ><[email protected]>, "'[email protected]'"
> ><[email protected]>
> >Subject: new e-mail addy
> >Date: Tue, 15 May 2001 15:02:08 -0500
> >
> >FYI, my work e-mail addy has changed, as I have changed jobs.
>
>_________________________________________________________________________
>Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com. |
------------------------------------------------------------------------------
------------------------
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
May 11, 2001 5:00pm through May 14, 2001 12:00am
------------------------------------------------------------------------------
------------------------
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: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
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 |
----- Forwarded by Elizabeth Sager/HOU/ECT on 04/26/2001 09:31 AM -----
Sheila Tweed
04/26/2001 09:00 AM
To: Elizabeth Sager/HOU/ECT@ECT, Karen E Jones/HOU/ECT@ECT, Dale
Rasmussen/HOU/ECT@ECT
cc:
Subject: California Energy Update--FYI
----- Forwarded by Sheila Tweed/HOU/ECT on 04/26/2001 08:49 AM -----
[email protected]
04/26/2001 12:35 AM
To:
cc:
Subject: California Energy Update
1.? Members of the Assembly Energy Costs and Availability Subcommittee
opened? hearings today on the Memorandum of Understanding (MOU) between
Southern California Edison Company (SCE), Edison International (EIX), and the
California Department of Water and Power (CDWR).? Testifying on behalf of SCE
were SCE Vice President Bob Foster and Ann Cohen.? Additional hearings will
be scheduled next week at which time the subcommittee will hear from
representatives of the Governor, the Attorney General, and CDWR.? Among other
things, committee members questioned the wisdom of acquiring the transmission
system, particularly on an "as is" basis, the price to be paid, alternative
structures that would not require an acquisition by the state, and the rate
of return on new investment in the utility.
2.? Also in Sacramento, the Senate Select Committee to Investigate Price
Manipulation of the Wholesale Energy Market is scheduled to continue its
investigation Thursday on market manipulation.?
3.? Governor Davis' representatives have been negotiating a transaction with
Sempra, the parent company of San Diego Gas and Electric Co., to buy the
utility's transmission assets.? The Governor's representatives expect to have
an agreement within one to two weeks.
4.? Also today, Governor Davis announced the appointment of Richard Sklar to
head a team that will speed the construction of power plants in the state.?
The "Governor's Generation Implementation Taskforce" will work to bring
electrical generation facilities on line by coordinating state permitting,
siting, finance, design, and construction efforts in a "one stop shop."
5.? At its open meeting this evening, the Federal Energy Regulatory
Commission (FERC) approved an order addressing market monitoring and
mitigation for California wholesale power markets.? Based on the FERC staff
presentation and discussion during the meeting, it appears that the market
monitoring and mitigation plan for California includes the following:
(1)? a requirement that all generators which entered into a Participating
Generator Agreement with the ISO, and all non-public utilities in California
that sell into the ISO's real-time market or use the ISO transmission grid,
must offer all available electric capacity during all hours to the ISO
real-time market, except for hydroelectric units.
(2)? all public utility load serving entities in California must submit
demand bids in real-time markets during all hours.
(3)? all sales by market participants that have been granted authority by the
FERC to sell power at market-based rates are subject to a refund condition to
prevent anti-competitive bids into real time markets.
(4)?? the ISO is required to submit weekly reports to the FERC on scheduled
outages and bid data to facilitate market monitoring.
(5)?? all sales into the ISO real-time market during a period of reserve
deficiency (i.e., during Stage 1, 2 or 3 emergencies) will be subject to
price mitigation.? The FERC order will include a formula that the ISO will be
required to apply for purposes of calculating a proxy price for all such
sales.
The order will also enhance the ISO's ability to coordinate and control
planned outages.
The mitigation plan will be in effect for a one-year period, and will be
subject to periodic review.? The FERC is also requiring the ISO and the
investor-owned utilities to submit a filing by June 1, 2001, to form a
Regional Transmission Organization (RTO).? If an RTO filing is not submitted
by that date, then the market monitoring and mitigation plan will terminate
automatically.? The FERC is also directing the parties to work with RTO West
(an RTO approved for the Pacific Northwest) to develop a plan for including
California within RTO West, with a goal of ultimately creating one RTO for
the entire western interconnection.? Finally, the FERC is instituting an
investigation under Section 206 of the Federal Power Act with respect to
wholesale power sales throughout the western interconnection.? Apparently,
potential refund liability would apply to wholesale power sale transactions
in the western interconnection entered into for a period of 24 hours or less
and made when reserve deficiencies are 7.5% or less.
FERC also approved the formation of RTO West, an eight-state RTO combining
the transmission assets of nine utilities in the Pacific Northwest.? The FERC
asked the RTO to make a submission to it by December 1 of this year on its
plans for including Canadian transmission and widening the scope of its
operations in a broader regional system. RTO West first submitted its plans
to the FERC last October. It includes nine electric utilities serving eight
western states with some 50,000 miles of transmission lines. The nine
utilities include Avista, BPA, Idaho Power, Montana Power, Nevada Power,
PacifiCorp, Portland General Electric, Puget Sound Energy and Sierra Pacific.
The states where the RTO West would operate are Washington, Oregon, Idaho,
Nevada, Utah and parts of Montana, Wyoming and California.
A more detailed analysis of the FERC orders will be provided in tomorrow's
update.
This e-mail message may contain legally privileged and/or confidential
information. If you are not the intended recipient(s), or the employee
or agent responsible for delivery of this message to the intended
recipient(s), you are hereby notified that any dissemination,
distribution or copying of this e-mail message is strictly prohibited.
If you have received this message in error, please immediately notify
the sender and delete this e-mail message from your computer. |
A good heads up on Alliance..Margare
---------------------- Forwarded by Margaret Carson/Corp/Enron on 12/13/2000
05:19 PM ---------------------------
Market Intelligence - Enron Transportation Services
From: Lorna Brennan on 12/13/2000 01:23 PM
To: Julie McCoy/ET&S/Enron@ENRON, Steve Klimesh/ET&S/Enron@ENRON, Gary
Sova/ET&S/Enron@ENRON, Rob Wilson/ET&S/Enron@ENRON, Lon
Stanton/ET&S/Enron@ENRON, David Marye/OTS/Enron@Enron, Courtney
Barker/ET&S/Enron@Enron, Sarabeth Smith/OTS/Enron@ENRON, Margaret
Carson/Corp/Enron@ENRON, Danny McCarty/ET&S/Enron@Enron, John
Goodpasture/OTS/Enron@ENRON, Michael Ratner/OTS/Enron@Enron, Sebastian
Corbacho/ET&S/Enron@Enron, Yuan Tian/ET&S/Enron@ENRON, Rockey
Storie/ET&S/Enron@ENRON, Kent Miller/ET&S/Enron@ENRON, John
Dushinske/ET&S/Enron@ENRON, Dave Neubauer/ET&S/Enron@ENRON, Bill
Fowler/ET&S/Enron@Enron, Michael Bodnar/ET&S/Enron@ENRON, Joni
Bollinger/ET&S/Enron@ENRON, David Badura/ET&S/Enron@ENRON, Janet
Bowers/ET&S/Enron@ENRON, Craig Buehler/ET&S/Enron@ENRON, Bob
Burleson/ET&S/Enron@ENRON, Allen Cohrs/ET&S/Enron@ENRON, John
Fiscus/ET&S/Enron@ENRON, Steve Gilbert/ET&S/Enron@ENRON, Morgan
Gottsponer/ET&S/Enron@ENRON, Stephen Herber/ET&S/Enron@ENRON, Dana
Jones/ET&S/Enron@ENRON, Stephanie Korbelik/ET&S/Enron@ENRON, Bill
Mangels/ET&S/Enron@ENRON, Penny McCarran/ET&S/Enron@ENRON, Vernon
Mercaldo/ET&S/Enron@ENRON, Larry Pavlou/ET&S/Enron@ENRON, Eileen
Peebles/ET&S/Enron@ENRON, Tony Perry/ET&S/Enron@ENRON, Loren
Penkava/ET&S/Enron@ENRON, Ken Powers/ET&S/Enron@ENRON, Chris
Sebesta/ET&S/Enron@ENRON, Frank Semin/ET&S/Enron@ENRON, Neal
Shaw/ET&S/Enron@ENRON, Larry Swett/ET&S/Enron@ENRON, Kay
Threet/ET&S/Enron@ENRON, Mike Ullom/ET&S/Enron@ENRON, Lisa
Valley/ET&S/Enron@ENRON, Chuck Wilkinson/ET&S/Enron@ENRON, Jim
Wiltfong/ET&S/Enron@ENRON, Jo Williams/ET&S/Enron@ENRON, Karen
Lagerstrom/ET&S/Enron@ENRON, Bob Stevens/ET&S/Enron@ENRON, Sue
Neville/ET&S/Enron@ENRON, Mike Barry/ET&S/Enron@ENRON, Martha
Janousek/ET&S/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Don
Powell/ET&S/Enron@ENRON, Steve Weller/ET&S/Enron@ENRON, Michael G
Stage/ET&S/Enron@ENRON, Tim Johanson/ET&S/Enron@ENRON, Laura
Lantefield/ET&S/Enron@ENRON, Frank Oldenhuis/ET&S/Enron@Enron, Jeff
Nielsen/ET&S/Enron@Enron, Robert Mason/ET&S/Enron@Enron, Sean
Bolks/ET&S/Enron@ENRON, Miriam Martinez/ET&S/Enron@ENRON, Lee
Ferrell/ET&S/Enron@Enron, John Williams/ET&S/Enron@ENRON, Reyna
Cabrera/ET&S/Enron@Enron, Theresa Branney/ET&S/Enron@Enron, Jan
Moore/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON, Michel
Nelson/ET&S/Enron@ENRON, Mike McGowan/ET&S/Enron@ENRON, Julia
White/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Lynn
Blair/ET&S/Enron@ENRON, Rick Dietz/ET&S/Enron@ENRON, Steven
January/ET&S/Enron@ENRON, Sheila Nacey/ET&S/Enron@ENRON, Donna
Scott/FGT/Enron@ENRON, Shelley Corman/ET&S/Enron@ENRON, Steven
Harris/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, Michelle
Lokay/ET&S/Enron@Enron, Lindy Donoho/ET&S/Enron@ENRON
cc:
Subject: Alliance May Test the System Up to 1.5 BCF/d in Next Two Weeks
Strong Demand Holds Load Factors High Despite Alliance
The introduction of the 1.325 Bcf/d Alliance Pipeline into the North American
gas market appears to have had less of an impact on gas flows out of western
Canada than expected, according to representatives of TransCanada PipeLines,
PG&E Gas Transmission and Alliance. Extremely strong gas demand in the
Pacific Northwest, California and in the Midwest has produced continued high
load factors on TransCanada and PG&E GT-NW despite the presence of their huge
new rival for Western Canadian supply.
"The contract picture changed significantly on [TransCanada] since the first
of November and primarily at our Empress, AB, delivery point into the
TransCanada mainline from the Alberta pipe, but actual physical gas flows [at
about 6 Bcf/d] have not changed correspondingly," said Klaus Exner, director
of pipeline system operations at TransCanada. "The big picture overview that
I would give you is that demand is very high in the Pacific Northwest and
California and we continue to run at the highest possible load factor down
that leg of our pipeline system out of Alberta, through British Columbia and
into the PG&E systems. That hasn't let up at all and we don't foresee that
letting up."
PG&E Gas Transmission Spokeswoman Sandra McDonough said PG&E GT-NW has been
running full at 2.6 Bcf/d for some time and is delivering 900 MMcf/d to
non-California load in the Pacific Northwest. "We're turning back demand
right now. Every power plant in this region is running full tilt. Tuscarora
[Gas Transmission], the Nevada pipeline, is full. Our Northwest deliveries
are fixed. We're delivering as much as we can deliver right now."
TransCanada's other major export route out of the Western Canadian
Sedimentary Basin is the Foothills and Northern Border route into the
Midwest. It also continues to operate at high load factors. "We didn't see a
huge drop-off in physical flows post Nov. 1. We've seen the IT volumes come
up considerably," said Exner. "The one thing that has changed is the
volatility of the flows. Customers are making frequent intraday nomination
changes and we're seeing more up and down and day-to-day variations,
according to the weather and the markets, than we would have when we had a
higher firm contract level. The fluctuations are driven purely by the price
differential between AECO and the Dawn Hub in Ontario, which indicates
whether or not interruptible flow on the mainline is in the money or not."
Alliance Pipeline spokesman Jack Crawford said the system has been running
flat out at about 1.325 Bcf/d since the valves were opened for commercial
service Dec. 1. He also said the pipeline soon would be testing to increase
flows on the system. It has been estimated that Alliance could increase gas
flows to 1.5 Bcf/d with existing compression. The additional capacity would
be divided up among existing shippers, Crawford said. "We haven't cranked up
the system above the contract capacity yet. We probably won't do that for a
couple weeks until we get things ironed out. Frankly though, I'm not sure
Chicago is their best market right now given the pricing in the Pacific
Northwest and California."
------------------------------------------------------------------------------
-- |
Yeh, I finally figured that out just after I sent the e-mail this AM.
Scott Dieball
09/12/2000 01:16 PM
To: John Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Kay Mann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sheila Tweed@ECT
Subject: Re: GE Language (Document link: John Schwartzenburg)
Thanks John. FYI the contract language (w/GE comments) is attached at the
bottom of this E-mail. When you have a minute we can discuss.
John Schwartzenburg
09/12/2000 10:43 AM
To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kay
Mann/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Sheila Tweed@ECT
Subject: Re: GE Language (Document link: Scott Dieball)
I think that I agree with the points and comments you folks raised in the
first echange on indemnities below, but don't have the document to refer
to. Scott, please drop by and brief me on these. Cognizant Gov't? Never
heard of the term, and itis not one of the usual defined terms. Don't know
how it's used here, suggest you decline andmake them clarify.
LOL ISSUES:
1. I suppose that this is a NY law contract. I do not think you can
effectively limit your liability for gross negligence or wilful misconduct
in NY. Regardless of choice of law, we generally cannot get this limited
or excluded in contracts with owners, either. I think you should not
accept any GE attempt to limit this by means of the cap on liability or
otherwise , and should avoid muddying the water on the point by taking any
"to the fullest extent permitted by law" clause or other such stuff as a
compromise. It will be important every time we wrap the GE equipment.
2. Generally, I do not think they should be able to limit their indemnity
for Haz Mat, patents, etc.
3. They have consistently refused to clarify that the indemnity for all
third party losses includes third party consequentials when Brian or
whoever else over here has been the lead negotiator with GE in the past. I
would like to think that we could get it clarified now that the larger
Enron is working it. Please try it again if you can.
Scott Dieball
09/11/2000 07:29 PM
To: Kay Mann/Corp/Enron@ENRON
cc: Brian D Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Martin W
Penkwitz/NA/Enron@Enron, Roseann Engeldorf/Corp/Enron@ENRON, Sheila
Tweed/HOU/ECT@ECT@ENRON, Ben Jacoby/HOU/ECT@ECT@ENRON
Subject: Re: GE Language (Document link: John Schwartzenburg)
See my comments in blue below.
To: Scott Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Brian D
Barto/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Schwartzenburg/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Martin W
Penkwitz/NA/Enron@Enron, Roseann Engeldorf/Corp/Enron@ENRON, Sheila
Tweed/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT
cc:
Subject: GE Language
I'm not particularly wild about many of the changes proposed by GE. Agree.
Seems that it would be a good idea to get a consensus on how to respond.
Here are the issues I see:
Indemnity issues:
They should indemnify us from claims by their employees/subcontractors.
Kay - Is your comment in connection with GE's comment to Section 27.1(iii)
(carve out of the 100% LOL for "gross acts" of its subcontractors, vendors,
ect.)? GE is in an aggressive outsource mode and needs to remain solely
and totally responsible for the actions and liabilities for its
subcontractors and vendors. I think Section 20.2(a) as written covers
simple negligence of GE's subcontractors and vendors and I would argue that
we need to keep Section 27.1(iii) as written dealing with gross negligence
of GE's subcontractors and vendors.
Indemnity should be triggered by strict liability as well as negligence.
Agree - Maybe we could agree to GE's strike out in 20.2(a) provided the
phrase "negligent or willfully wrongful" is replaced with "negligent, at
fault or strictly liable without fault" (or some variation thereof).
What is a cognizant government? Don't know! This was not discussed with
MIke so I am not sure what is the meaning of adding this term. We need to
also think in terms of how we could be harmed in a situation where GE fails
to comply with law, and instead of Enron incurring a monetary penalty, is
ordered to shut down the facility.
Limit of liability issues:
They want to limit their indemnity obligations for complying with laws,
patent infringement, liability for haz. waste and liens to 100% of purchase
price.
They want the limit of liability to apply to gross negligence, if possible.
Agree - See 1st comment above re indemnity.
They don't want to clarify that they have to indemnify us for another
party's claim for consequentials (as in a personal injury claim). Agree.
We've don't have anything concrete on assignment yet. Agree.
Comments? I suggest we get together before our next scheduled conf. call
to discuss our game plan.
Sheila has asked that we change Wednesday's call to 1100 Central, or 100
Central if 1100 doesn't work. Is this a problem? Works for me...just let
me know when, where, ect.
Kay
They should have to
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/11/2000 04:07
PM ---------------------------
[email protected] on 09/07/2000 07:46:07 PM
To: [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected]
cc: [email protected]
Subject: GE Language
Folks,
Having conferred at last with my colleagues, I can now forward to you our
draft language for the Indemnity and LOL clauses. As Steve mentioned in
his
earlier message, he has suggested some issues to discuss which could bring
us closer to resolution on that issue. Please let me know if you have any
question!
Best regards,
Mike
g _____________
Michael C. Barnas
Counsel, Power Plants Commercial Operations
GE Power Systems
One River Road - Building 37, Room 307
Schenectady, NY 12345 USA
Phone 8*235-7602 (518) 385 7602
Fax 8*235 5466 (518) 385 5466
Mobile 518 369 9538
(See attached file: MajorClausesGE01.doc)
- MajorClausesGE01.doc |
Thank you for your explanation. Often I think too literally and narrowly
and forget about the importance of spin. All the same, I think we should
know if Loretta appreciates the open support of evil industry or not...I'd
say it's worth a call.
E
-----Original Message-----
From: Dasovich, Jeff [mailto:[email protected]]
Sent: Monday, October 22, 2001 1:58 PM
To: Evelyn Kahl
Subject: RE: Angelides Oct. 19th Letter to L. Lynch Urging July 1 DA
Suspension Date
Great question. If you think it would be useful, I can back channel to
Loretta and find out. I'm of the view that this letter is more to
refute Angelides, so that his wild assertions don't go unanswered in the
court of public opinion. Perhaps the letter should be addressed to
Angelides, instead.
On the other hand, I think it is also useful to make it known to the
press and the public that the PUC has the regulatory tools, processes,
etc. necessary to permit customers broad latitude to manage their own
energy needs on the one hand, and ensure that there's not the sort of
massive cost-shifting to which Angelides refers on the other. In the
public's view this has been painted as an either/or issue. Either we end
direct access, or granny faces death and destruction. And that's just
not the case. In fact, I think it can be argued that the scenario
Angelides paints just isn't in the cards, period.
But I may be missing the mark with all this and am open to other views.
Let me know if you'd like me to find out if Loretta thinks the letter
would help her. Could find that out in pretty short order.
Best,
Jeff
-----Original Message-----
From: Evelyn Kahl [mailto:[email protected]]
Sent: Monday, October 22, 2001 3:46 PM
To: Dasovich, Jeff
Subject: RE: Angelides Oct. 19th Letter to L. Lynch Urging July 1 DA
Suspension Date
Has anyone ever stopped to ask Loretta whether the letters are helpful
or not? Two things occur to me. First, it is not becoming for a
commissioner to be taking actions consistent with the urgings of
industry -- particularly if you're a Democrat. Second, it has always
struck me that what she needs is some form of record support, not
political pats on the back in one-page letters. I am asking you these
questions not judging the proposal to send a letter .... but I've never
understood what they're supposed to do for her and I honestly would like
to understand.
E
-----Original Message-----
From: Dasovich, Jeff [mailto:[email protected]]
Sent: Monday, October 22, 2001 11:33 AM
To: Dasovich, Jeff; [email protected]; [email protected];
[email protected]; [email protected]; [email protected];
[email protected]; [email protected]; [email protected];
[email protected]; [email protected]
Subject: RE: Angelides Oct. 19th Letter to L. Lynch Urging July 1 DA
Suspension Date
FYI. Note below that even the mighty and powerful Power Authority's own
crackerjack analysis asserts that there is still a net short (despite
DWR contracts and DA "stampede"), which should leave one to believe
that, contrary to Angelides' letter, the more the DA the better. Which
further supports Loretta Lynch's response to the Angelides' letter that
DA reduces the amount of spot power DWR has to buy.
Best,
Jeff
CONSUMER POWER AND CONSERVATION FINANCING AUTHORITY
Pace of Power Authority Renewable Portfolio Agenda is Slowed
Quite possibly the most significant action taken at the October 19
Consumer Power and Conservation Financing Authority (Power Authority)
was its inaction on contracts proposed for approval. The Power Authority
has aggressively pursued a broad renewable portfolio, with the intent to
approve contracts as soon as possible.
Instead of approving a number of contracts on its October 19 agenda, the
Power Authority deferred calendared decisions on request for bids until
its November 2 meeting, acknowledging that no action can be taken until
the Department of Water Resources (DWR) rate agreement stalemate has
been resolved.
Chairman Freeman stated that the Public Utility Commission's rejection
of the rate agreement has created an obstacle for the Power Authority to
exercise renewable contracts, to contract for peaker generation and/or
to implement demand side programs. The Power Authority relies upon DWR's
credit to fund these programs, and until a rate agreement is finalized
the Power Authority cannot sign contracts.
Freeman indicated that the Power Authority has signed letters of intent
to purchase output from 14 biomass facilities in the Central Valley, as
well as 400 MW generated by wind.
With the Current Glut of Contracts, Why Do We Need Additional Reserves?
Kellan Flukinger, Senior Advisor to Chairman Freeman and Laura Doll,
provided a detailed presentation explaining why he believes the Power
Authority must contract for additional renewable and peaking generation.
Flukinger believes that despite direct access and the current glut of
electricity supplied in long-term contracts, there still appears to be a
net short of a few thousand megawatts within the State.
Flukinger concluded that the State still is at the mercy of electric
generators who are not subject to PUC regulatory authority and who have
no real obligation to build and maintain new facilities or to serve
customers within the State. He believes that the short-term contracts
and spot purchases leave the state vulnerable to price-spikes and supply
shortages. He believes that the reserve can be managed through
Time-of-Use and Real-Time-Pricing, conservation, interruptibles, demand
side management, renewables and peakers.
Power Authority Names William Barry as Chief Financial Officer
William Barry was approved as Chief Financial Officer of the Power
Authority at its October 19 Board meeting in Sacramento. Mr. Barry
currently works for the City of San Francisco, and has worked in the
past for the New York Power Authority.
**********************************************************************
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.
********************************************************************** |
John:
You aware of, know anything about, this?
Best,
Jeff
> MOTION SEEKING ORDER OR STAY CANCELING OR SUSPENDING CALIFORNIA DEPARTMENT
> OF WATER RESOURCES LONG-TERM ENERGY CONTRACTS AND ASSOCIATED IOU RATE
> SCHEDULES FOR LACK OF PROPER NOTICE UNDER THE FPA
>
> Pursuant to Rules 212 of the Rules and Practices and Procedures of the
> Federal Energy Regulatory Commission ("FERC"), 18 C.F.R. 385.212,
> CAlifornians for Renewable Energy, Inc. ("CARE"), moves for the
> Commission's consideration and action to remedy the illegal execution of
> long-term energy contracts by the California Department of Water Resources
> ("DWR") in regards to the CARE and other party's complaints in EL00-95
> et.al. Under section 205(c) of the Federal Power Act (49 Stat. 851; 16
> U.S.C. 824d(c)) the DWR long-term energy contracts recently disclosed
> through legal action by the California legislature and press requires that
> these contracts "shall be tendered for filing with the Commission and
> posted not less than sixty days nor more than one hundred-twenty days
> prior to the date on which the electric service is to commence." We
> contend that DWR has failed to comply with the requirements of the FPA in
> this matter. The remedy CARE seeks is for the Commission to issue an Order
> or Stay canceling or suspending such long-term energy contracts and
> associated IOU rate schedules (yet to be submitted to the Commission)
> pursuant to FPA section 205 (c).
>
> DWR disputes its requirements to provide proper notice prior to execution
> of said long-term contracts to all the parties to this case and to the
> public who have in a statutory and constitutional right to comment on
> expenditures of the public's funds in this manner by DWR. In response to
> CARE's CPRA request DWR states the "Department's purchases and sales of
> power are exempt from the Federal Power Act because DWR is a state agency.
> Section 201(f). To the extent that the Department engages in purchases or
> sales with counterparties who are subject to Federal Power Act
> jurisdiction, any obligation to file with FERC or otherwise comply with
> the Act lies with the counterparty to the contract, and not the
> department."
>
> CARE contends that DWR is acting as an "designated representative" for the
> Investor Owned Utilities ("IOUs") in the purchase of energy in California,
> pursuant to 18 CFR 35.1 (a), without authorization by the Commission.
>
> "In cases where two or more public utilities are required to file
> rate schedules or certificates of concurrence such public utilities may
> authorize a designated representative to file upon behalf of all parties
> if upon written request such parties have been granted Commission
> authorization therefore."
>
> CARE contends these actions by DWR violated the requirements of 18 CFR
> 35.1 (4)(e).
>
> "No public utility shall, directly or indirectly, demand, charge,
> collect or receive any rate, charge or compensation for or in connection
> with electric service subject to the jurisdiction of the Commission, or
> impose any classification, practice, rule, regulation or contract with
> respect thereto, which is different from that provided in a rate schedule
> required to be on file with this Commission unless otherwise specifically
> provided by order of the Commission for good cause shown."
>
> CARE contends that ample evidence of DWR's acting as the California IOU's
> "designated representative" is provided by DWR's request to the California
> Public Utilities Commission ("PUC") for a Revised Revenue Requirement and
> Power Purchase Costs Pursuant to Water Code Section 80110 and Public
> Utilities Code Section 451 , which is further illustrated by the PUC's
> Administrative law Judge's Ruling on the August 7, 2001 Revenue
> Requirement of the DWR regarding the IOU S.D.G. & E. applications
> 01-10-044, and 01-01-0045 to the PUC , which states:
>
> "SDG&E shall present alternative calculations of the required system
> average rate increases that (1) collect the DWR-related rate increases
> over the remaining 5 quarters of the revenue requirement period set forth
> in Table A-6 (i.e., the fourth quarter of 2001 and the four quarters of
> 2002), (2) collect the DWR-related rate increases over the next 8 quarters
> (i.e., the fourth quarter of 2001, the four quarters of 2002, and the
> first three quarters of 2003), and (3) collect the DWR-related rate
> increases over the period from September 1, 2001 through December 31,
> 2002."
>
> Clearly it is the intent of the DWR to act as the IOU's "designated
> representative" to seek approval from the PUC "to collect the DWR-related
> rate increases".
>
> CARE reiterates, it is the public policy that public agencies exist to aid
> in the conduct of the people's business and that the proceedings of public
> agencies be conducted openly so that the public may remain informed. It is
> the intent of the law that actions of public agencies be taken openly and
> that their deliberation be conducted openly. The people do not yield their
> sovereignty to those agencies that serve them. The people, in delegating
> authority, do not give their public servants the right to decide what is
> good for the people to know and what is not good for them to know. The
> people insist on remaining informed so that they may retain control over
> the instruments they have created. DWR has breached its public duties by
> failing to provide for myself, CARE, its members, and other members of the
> public, our statutory and constitutional right to comment or protest these
> long-term energy contracts executed by DWR, the associated expenditures of
> the public's funds, and associated rate increases to California energy
> consumers.
>
> In conclusion the Remedy CARE seeks is for the Commission to issue an
> Order or Stay canceling or suspending such long-term energy contracts and
> associated IOU rate schedules (yet to be submitted to the Commission)
> pursuant to FPA section 205 (c), or under what ever statutory authority as
> you deem appropriate.
>
> Respectfully submitted,
> Michael E. Boyd President, CARE 8-28-01 (408)
> 325-4690
> <<...OLE_Obj...>>
> |
Thank you,
cell phone# 713-899-0954 and home# 713-802-9262 (the cell phone is the best way to get in touch with me)
I'll see you tomorrow have a nice day,
-Joe
-----Original Message-----
From: Jonda Stowell <[email protected]>@ENRON [mailto:IMCEANOTES-Jonda+20Stowell+20+3Cjls+40fullenweider+2Ecom+3E+40ENRON@ENRON.com]
Sent: Monday, October 01, 2001 12:36 PM
To: Stepenovitch, Joe
Subject: RE: Discovery Responses
Joe-
I can't guarantee what time he will call today, but it will have to be
between appointments. As he will be at a seminar all next week, his
appointments were scheduled VERY tight this week, along with three days of
depositions which have been scheduled for over 2 months. It may not be
until this evening. He has your work and cell phone numbers.
Jonda
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, October 01, 2001 12:41 PM
To: [email protected]
Subject: RE: Discovery Responses
I will be there tomorrow at 3:45.... Do you know about what time Mr.
Fullenweider will be calling so I can give you the phone number. I leave
work around 3:30. Whatever time is best for him!
Thanks again,
-Joe
-----Original Message-----
From: Jonda Stowell <[email protected]>@ENRON
[mailto:IMCEANOTES-Jonda+20Stowell+20+3Cjls+40fullenweider+2Ecom+3E+40ENRON@
ENRON.com]
Sent: Monday, October 01, 2001 12:28 PM
To: Stepenovitch, Joe
Subject: RE: Discovery Responses
Joe,
Can you come Tuesday at 3:45 to meet with me?
I have given Mr. Fullenweider a message to call you in the interim.
Jonda
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, October 01, 2001 11:32 AM
To: [email protected]
Subject: RE: Discovery Responses
Jonda,
I understand Mr. Fullenweider has meeting but after what Tonya put me
and
my family through last week we would like some answers and action. I
have
cut off all communication with her and now she is sending me emails
(trying
to act like nothing happened) I'm sure her lawyer is telling her to do
that
so she can say she has been keeping me informed of my son. (I will
forward
them to you) I am very upset and I'm sure you can understand why, I
really
think there is something really wrong ( I just have that feeling or she
is
mentally unstable ) How can she be aloud to keep me from my son?
Anyway, If I can't meet with Mr. Fullenwerider can you and I meet to go
over the discovery responses and does this mean were going to a jury
trial?
Why are they aloud to ask these questions and are we doing the something
to
Tonya? I don't understand....
I can't get out of leaving on Thursday, this is a business meeting for
work
(not pleasure) I can come Today, Tuesday and Wednesday anytime after
3:30.
I hope that helps
Thanks again,
-Joe
-----Original Message-----
From: Jonda Stowell <[email protected]>@ENRON
[mailto:IMCEANOTES-Jonda+20Stowell+20+3Cjls+40fullenweider+2Ecom+3E+40ENRON@
ENRON.com]
Sent: Monday, October 01, 2001 10:59 AM
To: Stepenovitch, Joe
Subject: RE: Discovery Responses
Dear Joe,
I'm sorry but I have Mr. Fullenweider scheduled in back-to-back
meetings,
hearings and depositions this week. I might be able to arrange a
short
telephone conference today or tomorrow. Otherwise, his deposition
schedule
may clear up on Wednesday and Thursday depending on how the Judge
rules
at a
hearing tomorrow morning. If the depositions get reset by the Court,
I
could fit you in on Wednesday or Thursday.
I absolutely must visit with you this week about your discovery
responses
because I will be out of town next week and they are due next Friday.
Jonda
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, October 01, 2001 7:45 AM
To: [email protected]
Subject: RE: Discovery Responses
Good Morning Jonda,
I would like to met with Mr. Fullenweider today if that is possible?
I'm
going out of town Thursday thru Sunday of this week. I think it is
very
important that I speak with him as soon as possible. Please let me
know
if
today is good for him. Thanks again,
-Joe
-----Original Message-----
From: Jonda Stowell <[email protected]>@ENRON
[mailto:IMCEANOTES-Jonda+20Stowell+20+3Cjls+40fullenweider+2Ecom+3E+40ENRON@
ENRON.com]
Sent: Sunday, September 30, 2001 12:18 PM
To: Stepenovitch, Joe
Subject: Discovery Responses
Dear Joe,
Would it be possible for you to come in one day next week at
about
3:00
p.m. to go over your discovery responses? Alternatively, you
could
come in two days at 4:00 p.m. On Thursday, I leave early for my
son's
soccer practice. Perhaps Tuesday and Friday would be good for
you???
Jonda L. Stowell
Legal Assistant
The Fullenweider Firm
4265 San Felipe, Suite 1400
Houston, TX 77027
(713) 624-4100 Telephone
(713) 624-4141 Facsimile
e-mail: [email protected]
**********************************************************************
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.
********************************************************************** |
This is actually pretty cool.
-----Original Message-----
From: Castillo, Michael
Sent: Wednesday, January 30, 2002 9:53 AM
To: Valdes, John
Subject: FW:
Michael Castillo
Enron Corporation
[email protected]
(713) 345-4794
-----Original Message-----
From: Lee, Jennifer
Sent: Wednesday, January 30, 2002 9:31 AM
To: Mausser, Gregory A.; Sprowls, Cathy; Bowen, Melba A.; Castillo, Michael
Subject:
>>
>> This is a real test given by the Human Relations Dept. at many
>>of the
>> major corporations today. It helps them get better insight
>>concerning their
>> employees and potential employees. It's only 10 simple
>>questions, so grab
>> a pencil and paper, keeping track of your letter answers. Make
>>sure to
>> change the subject of the e-mail to read YOUR total. When you
>>are finished,
>> forward this to everyone you know, and also send to the person
>>who sent
>> this to you. Make sure to put YOUR score in the subject box.
>>Ready?
>>
>> Begin.
>>
>> 1. When do you feel your best?
>>
>> (a) in the morning.
>> (b) during the afternoon & early evening.
>> (c) late at night.
>>
>>
>> 2. You usually walk
>>
>> (a) fairly fast, with long steps.
>> (b) fairly fast, with short, quick steps.
>> (c) less fast head up, looking the world in the face.
>> (d) less fast, head down.
>> (e) very slowly.
>>
>>
>> 3. When talking to people you
>>
>> (a) stand with your arms folded.
>> (b) have your hands clasped.
>> (c) have one or both your hands on your hips.
>> (d) touch or push the person to whom you are talking.
>> (e) play with your ear, touch your chin, or smooth your hair.
>>
>>
>> 4. When relaxing, you sit with
>>
>> (a) your knees bent with your legs neatly side by side.
>> (b) your legs crossed.
>> c) your legs stretched out or straight.
>> (d) one leg curled under you.
>>
>>
>> 5. When something really amuses you, you react with
>>
>> (a) a big, appreciative laugh.
>> (b) a laugh, but not a loud one.
>> (c) a quiet chuckle.
>> (d) a sheepish smile.
>>
>>
>> 6. When you go to a party or social gathering you
>>
>> (a) make a loud entrance so everyone notices you.
>> (b) make a quiet entrance, looking around for someone you know.
>> (c) make the quietest entrance, trying to stay unnoticed.
>>
>>
>> 7. You're working very hard, concentrating hard, and you're
>> interrupted.
>> Do you
>> (a) welcome the break.
>> (b) feel extremely irritated.
>> (c) vary between these two extremes.
>>
>>
>> 8. Which of the following colors do you like most?
>>
>> (a) red or orange.
>> (b) black.
>> (c) yellow or light blue.
>> (d) green.
>> (e) dark blue or purple.
>> (f) white.
>> (g) brown or gray.
>>
>> 9. When you are in bed at night, in those last few moments
>>before
>> going to sleep, you lie
>> (a) stretched out on your back.
>> (b) stretched out face down on your stomach.
>> (c) on your side, slightly curled.
>> (d) with your head on one arm.
>> (e) with your head under the covers.
>>
>>
>> 10. You often dream that you are
>>
>> (a) falling.
>> (b) fighting or struggling.
>> (c) searching! for something or somebody.
>> (d) flying or floating.
>> (e) you usually have dreamless sleep.
>> (f) your dreams are always pleasant.
>>
>>
>> POINTS:
>>
>> 1. (a) 2 (b) 4 (c) 6
>>
>> 2. (a) 6 (b) 4 (c) 7 (d) 2 (e) 1
>>
>> 3. (a) 4 (b) 2 (c) 5 (d) 7 (e) 6
>>
>> 4. (a) 4 (b) 6 (c) 2 (d) 1
>>
>> 5. (a) 6 (b) 4 (c) 3 (d) 5 (e) 2
>>
>> 6. (a) 6 (b) 4 (c) 2
>>
>> 7. (a) 6 (b) 2 (c) 4
>>
>> 8. (a) 6 (b) 7 (c) 5 (d) 4 (e) 3 (f) ! 2 (g) 1
>>
>> 9. (a) 7 (b) 6 (c) 4 (d) 2 (e) 1
>>
>> 10. (a) 4 (b) 2 (c) 3 (d) 5 (e) 6 (f) 1
>>
>>
>> Now add up the total number of points.
>>
>> OVER 60 POINTS:
>>
>> Others see you as someone they should "handle with care." You're
>>seen as
>> vain, self-centered, and one who is extremely dominant. Others
>>may admire
>> you, wishing they could be more like you, but don't always
>>trust you,
>> hesitating to become too deeply involved withyou.
>>
>> 51 TO 60 POINTS:
>>
>> Others see you as an exciting, highly volatile, rather impulsive
>> personality; a natural leader, who's quick to make decisions,
>>though not
>> always the right ones. They see you as bold and adventuresome,
>>someone who
>> will try anything once; someone who takes chances and enjoys an
>> adventure.They enjoy being in your company because of the
>>excitement you
>> radiate.
>>
>> 41 TO 50 POINTS:
>>
>> Others see you as fresh, lively, charming, amusing, practical,
>>and always
>> interesting; someone who's constantly in the center of
>>attention, but
>> sufficiently well-balanced not to let it go to their head. They
>>also see
>> you as kind, considerate, and understanding; someone who'll
>>always cheer
>> them up and help them out.
>>
>> 31 TO 40 POINTS:
>>
>> Others see you as sensible, cautious, careful and practical.
>>They see you
>> as clever, gifted, or talented, but modest; not a person who
>>makes friends
>> too quickly or easily, but someone who's extremely loyal to
>>friends you do
>> make and who expect the same loyalty in return .Those who
>>really get to
>> know you realize it takes a lot to shake your trust in your
>>friends but,
>> equally, that it takes you a long time to get over it if that
>>trust is
>> ever broken.
>>
>> 21 TO 30 POINTS:
>>
>> Your friends see you as painstaking and fussy. They see you as
>>very
>> cautious, extremely careful, a slow and steady plodder.It'd
>>really surprise
>> them if you ever did something impulsively or on the spur of
>>the moment,
>> expecting you to examine everything carefully from every angle
>>and then,
>> usually decide against it. They think this reaction is caused
>>partly by
>> your careful nature.
>>
>> UNDER 21 POINTS:
>>
>> People think you are shy, nervous, and indecisive, someone who
>>needs
>> looking after, who always wants someone else to make the
>>decisions and who
>> doesn't want to get involved with anyone or anything.They see
>>you as a
>> worrier who always sees problems that don't exist. Some people
>>think you're
>> boring. Only those who know you well know that you aren't.Now
>>forward this
>> on to everyone you know, making sure to put
>> YOUR score in the subject box!
>>
>>
>> Work and worth never goes vain
>>
>> Regards
>>
>> Viji Madhukar
>> Tesco India sourcing
>> Ph No. 00 91 80 532 71 30 - 5
>> Fax No 00 91 80 532 48 05
>> homepage : http://www.tesco.com
>
>
>
_____
Get your FREE download of MSN Explorer at http://explorer.msn.com <http://go.msn.com/bql/hmtag_etl_EN.asp>.
Regards,
Dian Chu
_____
Do You Yahoo!?
Yahoo! Auctions <http://rd.yahoo.com/mail_us/tag/?http://auctions.yahoo.com> Great stuff seeking new owners! Bid now! <http://rd.yahoo.com/mail_us/tag/?http://auctions.yahoo.com> |
>From: [email protected]
>To: [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected]
>Subject: Fwd: hey, girlfriends!
>Date: Tue, 12 Dec 2000 04:30:16 EST
>
>
Get more from the Web. FREE MSN Explorer download : http://explorer.msn.com
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From: "thesymingtons" <[email protected]>
To: "Maggie Symington" <[email protected]>
Subject: hey, girlfriends!
Date: Mon, 11 Dec 2000 17:15:45 -0000
MIME-Version: 1.0
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Something fun to read!
>
> I WANT WHAT SHE'S HAVING
>
> >>>> I have a new delightful friend,
> > > > I am most in awe of her.
> > > > When we first met I was impressed,
> > > > By her bizarre behavior.
> > > >
> > > > That day I had a date with friends,
> > > > We met to have some lunch.
> > > > Mae had come along with them,
> > > > All in all ... a pleasant bunch.
> > > >
> > > > When the menus were presented,
> > > > We ordered salads, sandwiches, and soups.
> > > > Except for Mae who circumvented,
> > > > And said, Ice Cream, please: two scoops.
> > > >
> > > > I was not sure my ears heard right,
> > > > And the others were aghast.
> > > > Along with heated apple pie,
> > > > Mae added, completely unabashed.
> > > >
> > > > We tried to act quite nonchalant,
> > > > As if people did this all the time.
> > > > But when our orders were brought out,
> > > > I did not enjoy mine.
> > > >
> > > > I could not take my eyes off Mae,
> > > > As her pie a-la-mode went down.
> > > > The other ladies showed dismay,
> > > > They ate their lunches silently, and frowned.
> > > >
> > > > Well, the next time I went out to eat,
> > > > I called and invited Mae.
> > > > My lunch contained white tuna meat,
> > > > She ordered a parfait.
> > > >
> > > > I smiled when her dish I viewed,
> > > > And she asked if she amused me.
> > > > I answered, Yes, you do,
> > > > But also you confuse me.
> > > >
> > > > How come you order rich desserts,
> > > > When I feel I must be sensible?
> > > > She laughed and said, with wanton mirth,
> > > > I am tasting all that's possible.
> > > >
> > > > I try to eat the food I need,
> > > > And do the things I should.
> > > > But life's so short, my friend, indeed,
> > > > I hate missing out on something good.
> > > >
> > > > This year I realized how old I was,
> > > > She grinned, I've not been this old before.
> > > > So, before I die, I've got to try,
> > > > Those things for years I had ignored.
> > > >
> > > > I've not smelled all the flowers yet,
> > > > There's too many books I have not read.
> > > > There's more fudge sundaes to wolf down,
> > > > And kites to be flown overhead.
> > > >
> > > > There are many malls I have not shopped,
> > > > I've not laughed at all the jokes.
> > > > I've missed a lot of Broadway Hits,
> > > > And potato chips and cokes.
> > > >
> > > > I want to wade again in water,
> > > > And feel ocean spray upon my face.
> > > > Sit in a country church once more,
> > > > And thank God for It's grace.
> > > >
> > > > I want peanut butter every day,
> > > > Spread on my morning toast.
> > > > I want un-timed long-distance calls,
> > > > To the folks I love the most.
> > > >
> > > > I've not cried at all the movies yet,
> > > > Nor walked in the morning rain.
> > > > I need to feel wind in my hair,
> > > > I want to fall in love again.
> > > >
> > > > So, if I choose to have dessert,
> > > > Instead of having dinner.
> > > > Then should I die before night fall,
> > > > I'd say I died a winner.
> > > >
> > > > Because I missed out on nothing,
> > > > I filled my heart's desire.
> > > > I had that final chocolate mousse,
> > > > Before my life expired.
> > > >
> > > > With that, I called the waitress over,
> > > > I've changed my mind, it seems.
> > > > I said, I want what she is having,
> > > > Only add some more whipped-cream!
> > > >
> > > > Here is a little something for you all!
> > > > We need an annual Girlfriends Day!
> > > > If you get this twice,
> > > > then you have more than one girlfriend.
> > > > Be happy.
> > > >
> > > > ALL I NEED TO KNOW ABOUT LIFE I LEARNED FROM MY GIRLFRIENDS
> > > >
> > > > * Good times are even better when they're shared.
> > > > * A good long talk can cure almost anything.
> > > > * Everyone needs someone with whom to share their secrets.
> > > > * Listening is just as important as talking.
> > > > * An understanding friend is better than a therapist...
> > > > and cheaper too!
> > > > * Laughter makes the world a happier place.
> > > > * Friends are like wine; they get better with age.
> > > > * Sometimes you just need a shoulder to cry on.
> > > > * Great minds think alike, especially when they are female!
> > > > * When it comes to "bonding," females do it better.
> > > > * YOU ARE NEVER TOO OLD FOR SLUMBER PARTIES!!!!
> > > > * Girls just want to have fun.
> > > > * It's important to make time to do "girl things."
> > > > * Calories don't count when you are having lunch
> > > > (or any other food) with your girlfriends.
> > > > * You can never have too many shoes.
> > > > * GEMS MAY BE PRECIOUS, BUT FRIENDSHIP IS PRICELESS!!!
> > > >
> > > > PLEASE PASS THIS ON TO ALL OF YOUR GIRLFRIENDS |
Thanks for your comments on the standards. Our approach in creating a global
exception reporting mechanism is to start simply and build from there. Our
initial cut is to have effective exception reporting on a handful of critical
standards by the end of this year. That will be a first, to on a daily basis
have a view into the exceptions outside the global standards. Many of the
measurements that you mention are great management tools for accessing the
level of excellence of the services that we are delivering and the competence
of those that are managing these services. Some of these may be more
appropriately contained in a monthly operations report that I have instituted
within ENA and which we are working to proliferate across all of the
wholesale merchant services companies. Give me a call and we can set a time
to get together for a few minutes and I can review this operating report with
you.
We spent some time at our offsite in late October with all operations
controllers reviewing and discussing these standards. Shona has taken a stab
at the format of these exception reports. It is likely that we will have a
rep from each of the operating companies participate in the final design of
these reports, so that all feel as if they own the intended output from these
reports.
Yes, we are gleaning this information from those that are responsible for
these activities. My purpose is not to use this info to punish or prosecute,
but instead to use this exception report as a tool to garner resources as
needed to clear the exceptions. It is invariably the deals that are
exceptions in some way that create the problems. For instance, small power
deals that were done in Calgary before they had a power book set up. These
were "on the side" and not captured in total power exposure because they
didn't have a book to put them in (a discovery during the doorstep review).
If this goes on the exception report, then we can highjack someone in risk in
Houston to help Calgary set up a new book, or get IT resources focused
quickly on any solution that may require their input to fix. By having a
prescribed elevation of these exceptions, we should get the appropriate
attention to correct them. The spur for making sure that all exceptions are
appropriately noted, will be that if there is a problem with any deal that
was an exception (not in the books, no confirm, etc.) and was not included on
the exception report, that this will be grounds for termination for the
appropriate operations controller. I will make sure that as we start this
reporting process that this is well understood. The other impetus will be
that during doorstep reviews the operational activities will be gauged
against these standards. The AA internal audits should also access adherence
to these.
From: David Port @ ENRON
11/10/2000 01:46 PM
To: Shona Wilson/NA/Enron@Enron
cc: Sally Beck/HOU/ECT@ECT, Ted Murphy/HOU/ECT@ECT
Subject: Fundamental Operating Standards
This is the first time I have seen these - have they been rolled out ?
I would be interested to see the format of the exception reporting that
attaches to these standards that you mentioned - did you have anything
particular in mind ?
I had a few of my own ideas for some diagnostic measures of the extent to
which these standards are being adhered to - see what you think:
Transactions are recorded accurately and timely (completeness, accuracy)
Daily report of "holdovers" by commodity group (trades not booked in time for
daily cut - off, including counterparty, volume, price etc)
Report of P&L effect of booking errors as they transpire, including
responsibility
Daily Management P&L and Position reporting is accurate and timely
(completeness, accuracy)
Periodic qualitative review by RAC (i.e. Is it sufficient by reference to the
Risk Management Policy - does it show delta gamma vega as a term structure
etc....)
NB: the point about "Reports issued on next day of trading at a commercially
pre-determined time" conflicts with the Risk Managemet Policy, which says
"...before any subsequent trading ocurrs". I think the diagnostic measure
should be, for each commodity DPR a report daily of all those signed off as
final (note I do not neccessarily mean "officialized") after the relevant
market opening time (usuaully 7.30 am)
Timely confirmation and execution of transactions (completeness, accuracy,
existence)
Monthly report of all unmatched confirmations:
- outstanding inward confirmations (i.e. sent out, not signed)
- outstanding outward confirmations (i.e deal done, confirm not sent)
- outstanding mismatched or disputed confirmations
showing deal trade date, start date, commodity, counterparty, MTM value, aged
Settlements with counterparties occurs accurately and timely (non CACS, non
Dashed deals)
Monthly report of cumulative amounts of all unmatched or unapplied cash:
Unapplied cash by counterparty, in original denomination, including deal
reference if any
Unmatched amounts by deal, where settled amount differs from maturing forward
MTM value
One additional thing that ocurred to me was the fact that those responsible
for supplying the information are also those responsible for the operation
underlying it in some sense, so the obvious pitfalls of self - assessment
will come into play here. Perhaps the "pilot" report should be put together
somehow independently.
Views ?
DP |
Notice No. 01-75
March 5, 2001
TO:
All NYMEX Division Members/Member Firms
All NYMEX Division Clearing Members
All NYMEX Division Floor Traders
All NYMEX Division Operations Managers
FROM:
George Henderson, Vice President
RE:
Options Expiration Operational Procedures for the Trading Floor and Clearing
Members
________________________________________________________________
The expiration date for the April 2001 options contract for Platinum (POJ1)
is Friday, March 9, 2001.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 6:45 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:30 PM
Usual Event Time: 6:45 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:30 PM
Usual Event Time: 6:45 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:30 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 6:45 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:30 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&refdo
c=(01-75)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
Guys, do we have enough VAR to bring this position into the book? If over
$5M in total exposure it has to go to Frevert/Whalley.
John, I assume that you have gone through the transaction and have approved.
Regards
Delainey
---------------------- Forwarded by David W Delainey/HOU/ECT on 02/01/2001
12:20 PM ---------------------------
Janice R Moore
02/01/2001 09:06 AM
To: Janet R Dietrich/HOU/ECT@ECT
cc: Berney C Aucoin/HOU/ECT@ECT, Daniel Allegretti/NA/Enron@Enron, David
Gorte/HOU/ECT@ECT, David V Porter/PDX/ECT@ECT, David W Delainey/HOU/ECT@ECT,
Elizabeth Sager/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, George
Wood/Corp/Enron@Enron, Jeffery Ader/HOU/ECT@ECT, Jim Meyn/NA/Enron@Enron,
John J Lavorato/Enron@EnronXGate, John Llodra/Corp/Enron@ENRON, Kevin M
Presto/HOU/ECT@ECT, LaCrecia Davenport/Corp/Enron@Enron, Mark Dana
Davis/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Rick Buy/HOU/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, Zachary
Sampson/NA/Enron@ENRON, Janette Elbertson/HOU/ECT@ECT
Subject: Re: Draft DASH for CMP Standard Offer Deal
And here's the risk memo on this deal. Still in draft form and based on the
state of play at the moment.
Regards,
Janice
EB3861
Assistant General Counsel, Enron North America Corp.
713-853-1794 (Fax: 713-646-4842)
Janet R Dietrich
01/31/2001 04:34 PM
To: John Llodra/Corp/Enron@ENRON
cc: Jeffery Ader/HOU/ECT@ECT, George Wood/Corp/Enron@Enron, Kevin M
Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT,
Jim Meyn/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Daniel
Allegretti/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron, David V Porter/PDX/ECT@ECT, Rick Buy/HOU/ECT@ECT, David
Gorte/HOU/ECT@ECT, Janice R Moore/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT,
Elizabeth Sager/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, LaCrecia
Davenport/Corp/Enron@Enron, Zachary Sampson/NA/Enron@ENRON, Tracy
Ngo/PDX/ECT@ECT
Subject: Draft DASH for CMP Standard Offer Deal
John, thanks for the update. I sat down with John Lavorato and Dana Davis
this morning to review the deal and get John's approval under the current
terms. He has approved the deal in it's current form however, to the extent
that we have any material change in the terms I'll need to be sure he's OK
with the changes in advance of any binding committment with Central Maine.
This is definitely a deal we want to do and given the anticipated
acceleration in the negotiations and possible execution, we need to be sure
that we're able to react and transact quickly. Dana Davis is obviously on
point for all pricing. For all others who have involvement here - please
ensure that you're on board with your piece of the deal as is, and available
to focus on any negotiated changes that may come up over the next couple of
days. Berney Aucoin will be on point for coordinating and managing all
internal pricing, approvals, etc., so be sure that Bernie can get ahold of
you if he needs to.
Also, for the DASH signatures, why don't you move both Kevin and I to
"Regional Management" and let Ader and Davis sign for Origination and
Trading.
Thanks and good luck!
---------------------- Forwarded by Janet R Dietrich/HOU/ECT on 01/31/2001
03:51 PM ---------------------------
John Llodra@ENRON
01/31/2001 11:50 AM
To: Jeffery Ader/HOU/ECT@ECT, George Wood/Corp/Enron@Enron, Kevin M
Presto/HOU/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Berney C Aucoin/HOU/ECT@ECT,
Jim Meyn/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Daniel
Allegretti/NA/Enron@Enron, David W Delainey/HOU/ECT@ECT, John J
Lavorato/Corp/Enron, Janet R Dietrich/HOU/ECT@ECT, David Port/Market
Risk/Corp/Enron@ENRON, Rick Buy/HOU/ECT@ECT, David Gorte/HOU/ECT@ECT, Janice
R Moore/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Elizabeth
Sager/HOU/ECT@ECT, Frank Hayden/Corp/Enron@Enron, LaCrecia
Davenport/Corp/Enron@Enron, Zachary Sampson/NA/Enron@ENRON, Tracy
Ngo/PDX/ECT@ECT
cc:
Subject: Draft DASH for CMP Standard Offer Deal
All:
As some of you may be aware, we are in the process of negotiating with
Central Maine Power Company regarding the assumption of a portion of their
wholesale obligations associated with their Standard Offer Service load in
the State of Maine, covering at least March 1, 2001 - Feb 28, 2002. We are
currently in the process of negotiating a contract and transaction terms.
They are simultaneously discussing same with other suppliers. At this point,
there are a number of outstanding items (including numerous contract items
and credit arrangements). However, we expect that the pace of the
negotiation process will be very quick over the next 1-3 days. As an
example of how quickly things might move, CMP has indicated that the Maine
PUC is poised to hold deliberations and approve CMP's signing of a contract
within 24 hours of CMP/Enron agreement on contract terms (with updated firm
pricing to be supplied just prior to PUC deliberations and held open for
about 2-3 hours).
Key members of our negotiating team on this deal are as follows:
Origination/Marketing: John Llodra, George Wood
Legal: Janice Moore
Regulatory/Governmental: Daniel Allegretti
Commodity Structuring: Jim Meyn, Zach Sampson
Credit: Edward Sacks, Tracy Ngo
Attached below is a draft of the DASH for this prospective deal. Items
subject to change or still under negotiation are noted. While this DASH is
prepared assuming we obtain a multi-year extension swaption, there is a
chance it may end up being a single year deal for the period Mar 1, 01- Feb
28, 02. My intent in sending the DASH at this time is to familiarize you
all with the aspects of the deal at this point in time, to enable us to move
quickly to get internal approvals in the event we reach final agreement with
CMP over the next couple of days. Once agreement is reached with CMP on
outstanding items, a revised DASH will be circulated. Please feel free to
call me at 978-449-9936, or Jim Meyn/Berney Aucoin in structuring (5-3223,
3-4784) if you have any questions on the commercial structure or valuation to
date. Thanks.
Regards
John |
----- Forwarded by Steven J Kean/NA/Enron on 02/28/2001 02:22 PM -----
James D Steffes
02/26/2001 08:52 AM
To: Alan Comnes/PDX/ECT@ECT, Chris H Foster/HOU/ECT@ECT, Christian
Yoder/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Cynthia
Sandherr/Corp/Enron@ENRON, Dan Leff/HOU/EES@EES, David W
Delainey/HOU/ECT@ECT, Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES,
Elizabeth Sager/HOU/ECT@ECT, Elizabeth Tilney/HOU/EES@EES, Eric
Thode/Corp/Enron@ENRON, Gordon Savage/HOU/EES@EES, Greg Wolfe/HOU/ECT@ECT,
Harry Kingerski/NA/Enron@Enron, Jubran Whalan/HOU/EES@EES, Jeff
Dasovich/NA/Enron@Enron, Jeffrey T Hodge/HOU/ECT@ECT, Joe
Hartsoe/Corp/Enron@ENRON, John J Lavorato/Corp/Enron@Enron, John
Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Kathryn
Corbally/Corp/Enron@ENRON, Keith Holst/HOU/ECT@ect, Kristin
Walsh/HOU/ECT@ECT, Leslie Lawner/NA/Enron@Enron, Linda
Robertson/NA/Enron@ENRON, Louise Kitchen/HOU/ECT@ECT, Marcia A
Linton/NA/Enron@Enron, Mary Schoen/NA/Enron@Enron, [email protected], Mark
Palmer/Corp/Enron@ENRON, Marty Sunde/HOU/EES@EES, Mary Hain/HOU/ECT@ECT,
Michael Tribolet/Corp/Enron@Enron, Mike D Smith/HOU/EES@EES, Mike
Grigsby/HOU/ECT@ECT, Neil Bresnan/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT,
Phillip K Allen/HOU/ECT@ECT, Robert Badeer/HOU/ECT@ECT, Rebecca W
Cantrell/HOU/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, Rob Bradley/Corp/Enron@ENRON, Robert C
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Robert Frank/NA/Enron@Enron,
Robert Frank/NA/Enron@Enron, Robert Johnston/HOU/ECT@ECT, Robert
Neustaedter/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Sandra
McCubbin/NA/Enron@Enron, Scott Stoness/HOU/EES@EES, Shelley
Corman/Enron@EnronXGate, Steve C Hall/PDX/ECT@ECT, Steve Walton/HOU/ECT@ECT,
Steven J Kean/NA/Enron@Enron, Susan J Mara/NA/Enron, Tim Belden/HOU/ECT@ECT,
Tom Briggs/NA/Enron@Enron, Travis McCullough/HOU/ECT@ECT, Vance
Meyer/NA/Enron@ENRON, Vicki Sharp/HOU/EES@EES, Wendy Conwell/NA/Enron@ENRON,
William S Bradford/HOU/ECT@ECT
cc:
Subject: CA Supply Realities
For those that have not seen this analysis, attached please find a note from
Mary Schoen detailing the serious physical shortage problems that may occur
this Summer in CA.
Jim
----- Forwarded by James D Steffes/NA/Enron on 02/26/2001 08:51 AM -----
Mary Schoen
02/22/2001 02:55 PM
To: Neil Bresnan/HOU/EES@EES, Alan Comnes/PDX/ECT@ECT, Jubran
Whalan/HOU/EES@EES, Kristin Walsh/HOU/ECT@ECT, Clayton Seigle/HOU/ECT@ECT,
Jeffrey Keeler/Corp/Enron@ENRON, James D Steffes/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Janel
Guerrero/Corp/Enron@Enron, Jeff Dasovich/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Susan J Mara/NA/Enron@ENRON, Paul Kaufman/PDX/ECT@ECT
cc:
Subject: CA Supply Realities
Attached is a memo comparing the CEC's forecasted supply and a more realistic
look at what additional resources might be available this summer.
The bottom line is that:
1. The CEC significantly underestimates the outages that may occur this
summer. They estimate in their 5,000 MW supply deficit for the summer that
expected outages will be around 3,000MW. However, November and December saw
significantly higher outage levels. (7,265 MWs) The FERC has investigated
these outages and found no improprieties- just that the plants are overtaxed
from running at higher than normal capacities.
2. There are a lot of uncertainties surrounding the 1,244 MWs of projected
supply from rerating/restarting existing thermal and renewable projects. It
is very unclear how much of this will be able to come on line by this summer,
if at all. As evidenced by the e-mail I sent out this morning, local
communities may be very opposed to restarting shut down units. In addition,
these units are likely to be uneconomical.
3. In the existing resource pool, there are roughly 1,430 MWs of peaking or
other generation units that are running up against their operating hour
limitations from air quality regulations. The Governor has ordered the local
air quality districts to address these restrictions, We are beginning to
seem some movement; however, the US EPA has yet to weigh in on these relaxed
standards.
4. The distributed generation/back-up generation capacity to make up some of
the shortfall is still an unknown. While there has been some relaxing of the
limitations on run hours for back-up generation at "essential public
services" the increase in DG is expected from "clean" sources, not diesel
emergency generators.
5. The CEC is doing everything it can to get 50+ MW peaking units on-line by
this summer. They are promising a 21-day permit application approval process
and are offering to pay half of the cost of offsets, for "clean" sources of
generation in critical areas.
Please let me know if you have any questions or need additional information.
CEC's Summer Forecasted Peak Demand - Resource Balance:
List of Peakers running into their operating hour limitations:
Also available in hard copy format only:
(please e-mail me your fax number if you'd like a copy)
Table 1: Fully Executed CA ISO Summer Reliability Agreements (the ISO
Peaking Facilities)
Table 2: Summer 2001 Supply Options - Renewables Construction Status Summary
Table 3: Summer 2001 Supply Options - Rerate of Non-CEC Projects
Table 4: Summer 2001 Supply Options - CEC Rerate Status Summary
Table 5: Idle Biomass Plants Potentially Capable of Restart
Mary Schoen
Environmental Strategies
Enron Corp
713-345-7422 |
Notice No. 00-329
September 20, 2000
TO:
All NYMEX Members/Member Firms
All NYMEX Clearing Members
All NYMEX Floor Traders
All NYMEX Operations Managers
FROM: Neal Wolkoff, Executive Vice President
RE: Options Expiration Operational Procedures for the Trading Floor and
Clearing Members
The expiration date for the October 2000 options contract for Unleaded
Gasoline (GOV0), Heating Oil (OHV0) and Natural Gas (ONV0) is Tuesday,
September 26, 2000.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 7:10 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:55 PM
Usual Event Time: 7:10 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:10 PM
Usual Event Time: 7:10 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:55 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 7:10 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:10 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&
refdoc=(00-329) Options Expiration for GOV0, OHV0, and ONV0"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
FYI
-----Original Message-----
From: Stevens, Kirk
Sent: Wednesday, September 19, 2001 11:46 AM
To: Mayeux, Gay
Cc: Hayslett, Rod
Subject: RE: PGE Power Costs
Gay, here's the story and some numbers for the Q3 comparison. Please remember
the context of our phone conversion this morning when looking at this.
Hopefully this helps Investor Relations put the story together for the
Earnings Release.
Power Cost Adjustment
We now expect to have an amount collectable from customers to record all Q3 of
$86m. Since we we're basically at the deadband level at the end of Q2, we end
up eating our way through the deadband and up into the 90% collection band all
in Q3. On a stand alone basis, we will incur about $54m of net variable
power costs Q3 that we won't have any revenues for (but remember to keep this
in context for the entire 9-month period). The following shows how this is
calculated:
Projected Net Variable Power Costs = $316m
Baseline for PCA = $176m
Difference Subject to PCA Collection = $140
Deadband = $35m (no collection)
50/50 band = $21m (collect $10.5m, no collection = $10.5)
90/10 band = $84m (collect $75.5m, no collection = $8.5)
The bands above = $140m ($35+21+84)
Collections = $86m ($10.5+75.5)
No Collection (PGE eats) = $54m ($35+10.5+8.5)
Again, without the PCA mechanism and no other price increase between 1/1/01
and 9/30/01, PGE would be $90m worse off. As we discussed, before pulling our
request for a rate increase to be effective 1/1/01 (which was replaced with
the PCA mechanism), the latest amount being offered up by our PUC would have
been around a $90m increase for the 9-month period (although the evidence was
quickly moving towards no need for an increase, so we probably wouldn't have
got the rate increase, and without a PCA, would have been worse off today).
Quarter to Quarter Comparison - Margins
As we discussed, things were looking really good for us through Q2 2001, but
price caps and other factors in late Q2/early Q3 really dropped the price we
could sell our excess power for, and accordingly has dropped our margins. In
addition, a slowing economy and customer energy efficiency measures have
resulted in significant reductions in our retail revenues compared to last
year.
Another point on the this year/last year quarter to quarter comparisons is
that we went into Q3 2000 with length purchased at fairly low/reasonable costs
over the prior year or so. In Q3 2000, wholesale sales prices increased
dramatically (California market) so we made tremendous margins (above normal).
Going into Q3 2001, much of the power we purchased was at higher prices than
the previous year because of the higher wholesale power market operating over
the past year. When price caps and other events dropped the bottom out of the
wholesale power prices, our margins on our power lenght dropped dramatically.
The PCA only picks up a power of this increase in net variable power costs, as
outlined above. Also remember that we have a regulatory obligation to serve
our customers, so we have to go into a month with length in order to ensure we
can handle any potential load spikes or unplanned plant outages. Any excess
power is sold in the wholesale market in the day-ahead or real-time markets.
Big story, price caps and lower retail revenues have really hurt us year to
year, but our new rate case effective 10/1/01 should get us back on track.
Gross Margin Comparisons
Based on our latest forecast, here's a breakdown of our gross margins on a
year to year comparison for Q3. This gives you a high level look at the
impact the above events have had on our margins year to year ($94m decrease in
gross margin).
Q3 2000 Q3 2001
Retail Revenues $257m $250m
Wholesale Revenues 466m 571m
Other Revenues 5m 5m
Variable Power Costs 523m 715m
Gross Margin $205m $111m
Let me know if you have questions
>>> "Mayeux, Gay" <[email protected]> 09/19/01 05:43AM >>>
I will try again. Mine shows an attachment.
Look at the very bottom of the email. Thanks!
_________________________
Gay Mayeux
Vice President, Investor Relations
Enron Corp.
1400 Smith Street, EB 4931a
Houston, Texas 77002
Phone: 713-853-9905
Cell: 713-416-8821
Fax: 713-646-3002
email: [email protected]
-----Original Message-----
From: Kirk Stevens [mailto:[email protected]]
Sent: Tuesday, September 18, 2001 6:45 PM
To: Mayeux, Gay
Subject: Re: PGE Power Costs
Gay, there wasn't an attachment
>>> "Mayeux, Gay" <[email protected]> 09/18/01 03:24PM >>>
Attached is my attempt to summarize the PGE power cost issue. Please
call me to discuss. I have no pride of authorship - just want to make
sure it is simple as possible while still being correct. I will be here
until about 6:30 my time. Thanks!
_________________________
Gay Mayeux
Vice President, Investor Relations
Enron Corp.
1400 Smith Street, EB 4931a
Houston, Texas 77002
Phone: 713-853-9905
Cell: 713-416-8821
Fax: 713-646-3002
email: [email protected]
**********************************************************************
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.
********************************************************************** |
ARTICLE X. PERFORMANCE GUARANTEES AND ACCEPTANCE
10.1 Performance Guarantees. Seller guarantees that each Unit will meet the
Performance Standards for Electrical Output, Efficiency, Water Consumption,
Noise and Emissions as set forth in Section 10.2, when Performance Tests are
conducted in accordance with the Performance Test Procedures.
10.2 Performance Standards. Each Unit shall meet Performance Standards as
described in this Article and as set forth in the following table below in
order to achieve Acceptance:
2MW Power Plants 2.4MW Power Plants 3.0 MW Power Plants
Electrical Output, kW 2000 kW 2400 kW
Heat Rate (LVH) 48% 48%
Water Consumption 600 gal/h 620 gal/h
Sound level 65 dB(A) at 100 feet 65 dB(A) at 100 feet
Emissions
Nox <1 ppmv <1 ppmv
SOx <0.1 ppmv <0.1 ppmv
CO <20 ppmv <20 ppmv
VOC <20 ppmv <20 ppmv
Particulates <100 mg/m3 <100 mg/m3
10.2.1 Heat Rate Guarantee. Seller guarantees that the Heat Rate as
measured for each of the Units
as demonstrated during the Performance Test, shall be __BTU/kWh. In the event
the Heat Rate exceeds the Minimum Heat Rate Guarantee, Seller shall take all
necessary actions to correct, retest the deficient Unit and cause the
deficient Unit to meet the Minimum Heat Rate Guarantee. Failure to meet the
Heat Rate Guarantee shall prevent Acceptance, unless Purchaser explicitly
waives this guarantee in writing.
10.3.2 Electrical Output Guarantee. Seller guarantees that the Electrical
Output of each Unit as demonstrated in the most recent Performance Test
shall be equal or greater than 2000 kW (for a 2.0 MW Unit), 2400 kW (for a
2.4 MW) Unit, and 3000kW (for a 3.0 MW Unit). [Is this a net number? Where
is it measured?]
10.3.3 Emissions Guarantee. Seller guarantees that the emissions of the
[Unit] for the above listed categories when the [Unit] is operated
[conditions?]
10.3.4 Water Consumption Guarantee.
10.3.5 [Sound Guarantee. Seller guarantees that the near field average
A-weighted sound pressure levels of the [Unit? Facility?] shall not exceed
65dB(a) 9referenced to 20 micropascals) when measured during the Performance
Test at one and a half (1.5) meters above the ground level and one (1) meter
from the surface of the Equipment.]
10.3.6 Reliability.
10.4 Remedy for Failures to Meet Performance Guarantees. Except as
specified in Section 10._] the failure to achieve the Performance Guarantees
by the Acceptance Deadline [to be defined] shall constitute a default under
this Agreement, and Purchaser shall have the remedies specified in Article [].
10.5 Testing.
10.5.1 Notice of Installation Completion; Conducting Tests. Seller shall
deliver Notice to Purchaser that a Unit has achieved Installation Completion
so that the Unit is ready to be tested. Within [fourteen (14) days] of
receipt of this Notice, Purchaser shall perform the Performance Tests in
accordance with the Performance Test Procedure; however, Purchaser shall not
be required to conduct Performance Tests prior to [] days from the Delivery
Date, or date of actual delivery, whichever is latest. Purchaser shall give
Seller five (5) days notice of the time of the Performance Tests. Seller
shall be present or to have a representative present at the Performance
Tests, and shall provide technical advice during the tests; however,
Purchaser may at its option conduct the test without Seller, assuming notice
was properly given in accordance with this section.
10.5.2 Test Results. Performance Tests shall be conducted on a unit-by-unit
basis. Upon the completion of each Performance Test Purchaser will issue a
Performance Test Certificate setting forth the results achieved during such
test. In the case of multiple Performance Tests on a Unit, performance shall
be measured by the most recent Performance Test.
10.5.3 Costs of Retests. If one or more additional Acceptance Tests are
required doe to the failure of a Unit to pass its Acceptance Test, Seller
will bear the additional costs (if any) incurred by Purchaser [in excess of
those costs normally associated with operating the Unit]. Such additional
costs may include, but not be limited to, cost of testing, instrumentation,
fuel, consumable spare parts, and additional personnel required to conduct
the tests.
10.6 Acceptance. Upon the successful completion of the Performance Test
for a Unit, Seller shall submit a Performance Test Certificate to Purchaser
indicating that a Unit has achieved the Performance Standards and it ready
for Acceptance. Purchaser shall within ten (10) days of receipt of such
Performance Test Certificate, either sign such certificate acknowledging
concurrence or reject such certificate specifically stating the reasons for
such rejection. Acceptance for each Unit (and its associated Equipment) shall
occur upon the issuance of the Performance Test Certificate by Purchaser as a
result of the Unit having met the Performance Guarantees. Acceptance of the
each Unit to be installed in a Facility shall occur when all of the following
have occurred:
(a) the issuance of a Performance Test Certificate by Purchaser as a result
of a Performance Test indicating that the final Unit has met the Performance
Standards;
(b) all completion of training and the delivery of O & M Manuals and special
tools required hereunder shall have occurred;
(c) Seller has delivered to Purchaser a waiver of liens in form as shown in
Exhibit-S that have been or could have been placed upon the Equipment and
that there are no outstanding claims of Seller or any Vendor with respect to
the Equipment for that particular Facility;
(d) all of the Units in the Facility have achieved Installation Completion.
[and there are no punch list items remaining to be completed.]
10.7 Obligation to Improve Performance. If the Performance Test should
indicate that a Unit has met the Specific Performance Guarantees but not the
Guaranteed Performance Criteria, then for a period of ninety (90) days
following the Performance Test Seller shall have the obligation to use
reasonable efforts to improve performance so that the Guaranteed Performance
Criteria are met. Such efforts shall be at Seller,s sole cost and risk.
Performance Tests shall be conducted in accordance with this Article.
10.8 Reduced Purchase Amount for Failing to Meet Guaranteed Performance
Levels. Should the Performance Test of a Unit demonstrate that the Unit has
met the Performance Standards except for the Electrical Output Performance
Standard, the Purchase Amount related to that Unit shall be reduced by the
percent by which the Unit fails to meet the Power Output/kW Performance
Standard, so long as the Unit has achieved ninety percent of the guaranteed
level. Seller shall within 30 days refund any prior payment received for the
Unit in excess of the reduced Purchase Amount. |
Enron Family Day at the Museum of Fine Arts, Houston
Enron Family Day at the Museum of Fine Arts, Houston is this Saturday, May 12th from 10 AM - 7 PM. Enjoy the many exciting exhibits at the museum including
Star Wars: Magic of Myth. Enron employees and their families can enter the museum free by presenting their Enron ID Badge.
To visit the Star Wars: Magic of Myth exhibit, you can purchase vouchers for $10 each by calling (713) 639-7771 or you may use the vouchers previously
distributed to employees by Enron.
Do you hate to garden in the summer because everything you plant dies? Linda Gay, Director of the Mercer Arboretum and Botanic Gardens in Humble, will teach us about plants that not only survive, but thrive during the dog days of Houston summers. Topics will include tropical-looking plants for sun and shade, gingers, fragrant plants, and drought-tolerant plants.
WHEN: Tuesday, May 8th, 11:30 a.m. - 12:30 p.m.
WHERE: The Forum, 12th floor of 2 Allen Center
Get ready to help the Body Shop celebrate it's 15th anniversary and kick-off National Health and Fitness Week.
Beginning Monday, May 14 and ending Friday, May 18, 2001 all Enron Employees are invited to work-out at the Body Shop as a complimentary guest. Just visit http://hrweb.enron.com/wellness, print and fill-out the body shop 15th anniversary guest form, and return it to the Body Shop prior to your first workout.
The week long celebration includes a speech and autograph session with Clyde Drexler, Monday, May 14, 2001, 11:30 AM-12:00 noon (spaces will be limited and you must RSVP to [email protected] by Friday, May 11, 2001, 3:00 PM); an early morning workout with the Houston Rockets Power Dancers on, Thursday, May 17, 2001 starting at 6:30 AM followed by breakfast and autograph session in the Body Shop Fuel Station at 7:30am - 8:30am; a boot camp style class led by the German/American Foreign Legion and much, much more. Visit the Body Shop website for a detailed calendar of events, or for additional information, please e-mail the Body Shop at [email protected].
The Enron Travel Club will hold it's monthly meeting on Tuesday, May 8th in room EB5C2 from 12:00pm - 1:00pm.
Help people affected by arthritis. Join A Joint Walk on May 20.
Thousands of greater Houstonians will join the walk to cure arthritis. The 5-mile walk begins at the Kelsey-Seybold Clinic and travels along Braes Bayou. Call 713-529-0800 and "get in step".
Project Mom @ Friendly Haven on Saturday, May 11th.... in Honor of Mother's Day!
Join Enron employees at Friendly Haven, a housing assistance program supported by AFH (AIDS Foundation Houston), for a volunteer project designed to celebrate Mother's Day. Approximately 40 single mothers comprise Friendly Haven's residents and we would like to make the day special for both them and their children.
Enron volunteers are needed to facilitate a children's craft activity for Mother's Day presents and also serve a special brunch to all of the mothers in the program. This project can be utilized as a team building opportunity for a department with 15 - 25 employees or individual volunteers may sign up by contacting Janice Riedel at x37507 - for more information on AFH, visit http://www.aidshelp.org/programs/housing.htm.
The Contemporary Arts Museum needs volunteers to help with CAM*boree, a special event for kids Sunday May 20, 5:00pm to 8:00pm. There will be a picnic dinner, music and artist-led activities. Volunteers will help play with the kids, ages 2-12. It is so much fun and a short time commitment. Volunteers get a FREE Museum membership as a thank you. Please respond by May 16 to Jennifer Milligan X35272.
Support KidSave and Help Miracles Happen. Every Summer.
Kidsave's Summer Miracles Program enables orphanage children ages 5 to 11 to travel to the US and Canada, live with families and attend day camp. The program gives families who may be concerned about the problems of adopting an older child a chance to meet, get to know and in the best-case scenario, fall in love with a child. The program gives prospective parents an opportunity to see and evaluate first-hand the challenges and rewards of adopting an older child.
In 1999 and 2000 Kidsave and adoption agency partners placed 432 children - 96 percent of children who participated in the program. Generally, 85 to 90 percent of children who participate in the program find homes easily through the program. The remaining 10 to 15 percent require more work.
Kidsave believes every child deserves a family. We are committed to placing all children who participate in the Summer Miracles Program in permanent families or family-like environments.
We are looking for families to host children, and for others who want to help us make the camp program happen for these 250 children. As a non-profit organization, Kidsave depends on donations to raise the money to bring these children here and find them families. Please call Tonya Hoppe at 281.286.8948 or [email protected] to get involved in Houston's Kidsave program.
Enron and Kidventure Camps are proud to bring you Camp Enron Summer 2001. Celebrating our third year, Camp Enron will once again be providing summer camp for children, ages 5-13, of Enron employees and contractors.
This year, camp will be May 29-August 10. Ten, one-week sessions will be available and families may choose to attend any or all sessions. Each camp week is Monday through Friday.
The cost is $150 per week and includes all transportation, field trips and activities. A deposit of $50 per week is all that is needed to reserve your sessions.
To register, log on to: http://www.kidventurecamp.com/camp_enron.htm. Spaces are limited.
Enron parents simply ride to work with their children and check them in to the Energizer room in the morning with the Camp Enron Team. Enron Campers are loaded on Coach USA Buses and transported to our nearby camp. At the end of the day campers are brought back to the Energizer for parents to check out.
It's that easy!
For more information please contact:
web site: www.kidventurecamp.com
call Kidventure: 713.960.8989
e-mail: [email protected]
Have News to Share?
To post news or events in Enron In Action, please e-mail your information to [email protected]
no later than 12:00 noon the Thursday prior to the next Monday's mailing. |
I've chartered in the BVI a number of times and it is a great place to take
beginners. I only caught your post of yesterday so didn't see the earlier
thread. I'm assuming you're picking up the boat in Road Town or nearby. The
only problem with getting away from the dock by 12 or so is if the boat isn't
quite ready. I've always used the Moorings so they're the only outfit I
know. They don't usually let you get started on the boat until after the
chart briefing which means you don't go aboard until 10. If you use their
provisioning service it eases that chore but sometimes the food isn't there
right on time. Having several people (but not too many) around this time is
helpful to put food away, take inventory, attend boat briefing, etc. Of
course, if you get the boat the day before - maybe with a sleepaboard option
or some such, you have that much more certainty that everything will be done
on time. Check with your charter company about attending the briefings
before sending the last person off to the airport - some companies may
require 2 people from your boat to attend.
As for first day - if you are away by 1 I suggest heading over to the Bight
on Norman Island. There are lots of moorings there and you'll get one as
long as you're not in too late. It shouldn't take more than a few hours to
get there and if it looks like it might be close you can always fire up the
engine. There are a couple of places (a beach bar and a boat) to eat and
drink there if you don't feel like cooking the first night and although you
can't call it deserted or even secluded because of the number of boats there,
there is at least very little ashore to bother you. The caves are just
around the corner and the Indians right outside for great snorkeling/diving
either that afternoon or first thing the next day.
Whether you go clockwise or counterclockwise doesn't really matter. My
advice running roughly clockwise:
skip Soppers Hole - just a commercial port with little of interest (unless
you're clearing customs);
skip the USVI - all the clearing out & in & out & in can take a lot of time
and there's plenty to do in the BVI - if you just have to go, the northern
shore of St. John is the best - nice anchorages (several of the 'secluded'
variety) without the crime on St. Thomas and the resort at Caneel Bay will
let you come ashore for a fancy dinner (but make reservations and leave your
trash on board - there's nowhere to put it);
Jost van Dyke is fun - anchor in Great Harbor or pick up a mooring in Little
Harbor - Sydney's Peace & Love restaurant in Little Harbor still has an honor
bar where you mix your own drinks & just keep track in his little black book
while you're waiting for dinner, Foxie's in Great Harbor is a classic beach
bar/rest. - lots of fun and good food & drinks;
Sandy Cay is everyone's image of a desert island and perfect for a lunch stop
and a swim;
don't miss Cane Garden Bay (unless the northerly swell is too heavy) there's
a wonderful swath of pure white beach with palm trees swaying overhead and
steel drum bands serenade you into the evening - watch the reefs but the
channel in is well marked;
if there's a full moon be sure to be on Tortola somewhere that night (Cane
Garden works fine) to get to Bomba's Shack for the party - there are lots of
taxis there as the evening progresses to get you back;
it's easy to pick people up (or drop them off) at the airport (close to the
water with a dinghy dock) midweek if you need to and kind of fun to be met
that way;
the Baths are a must but VERY crowded (no anchoring allowed - must use a
mooring) so I'd try to get there as early in the day as possible (Cooper
Island, Marina Cay and area by Last Resort are nearby for the night before) -
maybe get up early, motor or sail over and have breakfast once you're safely
moored - and be careful to use the right color mooring and avoid the ones
reserved for commercial craft;
I usually skip Spanish Town (Virgin Gorda Yacht Harbor) since I'd rather be
at anchor than stuck in a marina slip with no breeze, but if you stay there
you can get a taxi to the Baths and top off with water in case your crew is
not serious enough about fresh water conservation (and what crew ever is?);
the Bitter End is great for a long hot shower (I think you pay at the resort
front desk) and maybe a 'fancy' dinner and there is also a water dock there
(10 cents a gal.?).
Sometimes it seems like the distances are so short you don't get to sail
enough - you shouldn't have any trouble getting a lot in (but you won't be
able to see everything). The only difficulty might be if you need to get the
boat back in for an early flight but I've let people out at Cane Garden Bay
to take a taxi to the early flight & then sailed around to have the boat back
well before noon. Having said that, I suggest Cooper Island or the Bight for
your last night - it just makes that last morning a bit more leisurely. And
just as I mentioned for the first night, it makes sense to get into most
anchorages early rather than late so you're sure to get a mooring (in those
that have them) and don't have to worry about finding a spot for the boat -
many of them can get quite crowded. Of course, if you're going anytime
between now and Thanksgiving there shouldn't be any trouble with crowds -
just pay daily, close attention to the weather forecasts!
Don't expect much in the way of night life but there are places to eat at
nearly every anchorage - many are closed in the low season. A few of the
islands have some good hiking but there's not much for the sight seers
either. But snorkeling and diving are everywhere. Ask at your chart
briefing for the best spots these days. If you have divers along, don't miss
the wreck of the Rhone - you can have a dive boat come and meet you there and
bring along equipment and a guide for the divers. The cruising guide will
have lots of info on all these issues.
Wish I was going - it's always a blast! |
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'kensey' has recommended GNSS (Long) at Jan 10 2002 4:09AM
Genesis Microchip (NASDAQ:GNSS)
Symbol Last Time Change High Low Volume
GNSS <http://clearstation.etrade.com/cgi-bin/details?Symbol=GNSS> 72.51 5:16PM 2.96 74.90 70.45 4,184,200
Community Take <http://clearstation.etrade.com/cgi-bin/bbs/Individual_Stocks/GNSS/Recommend>
86 Long / 36 Short
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'kensey' said:
Thu Jan 10 01:05:04 2002
GNSS as a long candidate.
GNSS gaps over resistance at 70 so the move constitutes a breakout. BRCM did the same thing today taking resistance at 50. a close beneath the 13-day EMA constitutes the roving cautionary flag as GNSS has had an excellent relationship with the 13-day EMA since the green bar birthed in november. GNSS has not closed beneath the 13-day EMA since. so the 13-day EMA is the yardstick.
waiting i am for the next julianna hatfield concert! unfortunately the best thing to be had at the local casino of choice is Styx.
kensey
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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 |
I also have a small tent that can be borrowed if "the silent one" emerges
from the depths of the legal system to join us on our quest for physical
pain, inebriation, and large, uncontrollable fires.
-----Original Message-----
From: Ebner, Daniel [mailto:[email protected]]
Sent: Tuesday, December 12, 2000 10:35 AM
To: Scott Palmer; 'Luis Gasparini'; '[email protected]';
'[email protected]'
Subject: RE: This weekend
Clint has spoken for the tent.
> -----Original Message-----
> From: Ebner, Daniel
> Sent: Tuesday, December 12, 2000 10:28 AM
> To: 'Scott Palmer'; 'Luis Gasparini'; [email protected];
> [email protected]
> Subject: RE: This weekend
>
> Does everybody have a tent. I can bring an extra SMALL tent if needed?
>
> -----Original Message-----
> From: Scott Palmer [SMTP:[email protected]]
> Sent: Tuesday, December 12, 2000 8:24 AM
> To: 'Luis Gasparini'; Ebner, Daniel; [email protected];
> [email protected]
> Subject: RE: This weekend
>
>
> I'm in for that.
>
> BTW - pack a change of warm clothes, and I'd suggest some kind of
> light
> nylon coat. It might drizzle that day.
>
> -----Original Message-----
> From: Luis Gasparini [mailto:[email protected]]
> Sent: Monday, December 11, 2000 4:37 PM
> To: Ebner, Daniel; Scott Palmer; [email protected];
> [email protected]
> Subject: RE: This weekend
>
>
> Do you guys want to go in on some New York Strip steaks? I can pick
> up some
> in bulk at Sam's and marinade them over night. There are usually 4
> eight to
> ten ounce steaks per package for around $20. They are pretty good
> quality.
>
> If we do it, should I get one or two packages? I'm thinking two
> (unless
> Scott is bringing Hunter, who we can BBQ instead).
>
> -----Original Message-----
> From: Ebner, Daniel [mailto:[email protected]]
> Sent: Monday, December 11, 2000 3:00 PM
> To: 'Scott Palmer'; Ebner, Daniel; '[email protected]'
> Cc: '[email protected]'; '[email protected]'
> Subject: RE: This weekend
>
>
> Sounds good to me. 5 o'clock. Just kidding.
>
> > -----Original Message-----
> > From: Scott Palmer [SMTP:[email protected]]
> > Sent: Monday, December 11, 2000 3:02 PM
> > To: 'Ebner, Daniel'; '[email protected]'
> > Cc: '[email protected]'; '[email protected]'
> > Subject: RE: This weekend
> >
> >
> > So did we get a consensus on the time?
> >
> > -----Original Message-----
> > From: Ebner, Daniel [mailto:[email protected]]
> > Sent: Monday, December 11, 2000 2:54 PM
> > To: Scott Palmer; '[email protected]'
> > Cc: '[email protected]'; '[email protected]'
> > Subject: RE: This weekend
> >
> >
> > I think I'd have a short position in camp fire wood. I see the
> intrinsic
> > value spiking upward (due to need for warmth) then crashing down
> (as it
> > turns to ash).
> >
> > However, I'm always long Beam.
> >
> > > -----Original Message-----
> > > From: Scott Palmer [SMTP:[email protected]]
> > > Sent: Monday, December 11, 2000 2:47 PM
> > > To: '[email protected]'
> > > Cc: 'Ebner, Daniel'; '[email protected]';
> > > '[email protected]'
> > > Subject: RE: This weekend
> > >
> > >
> > > Not so fast, Clint.... for $4.50 you just get the wood, you
> don't get an
> > > option to kick the wood.
> > >
> > > I'm writing December Wood-kicking calls for $1, who's
> buying....?
> > >
> > > -----Original Message-----
> > > From: [email protected] [mailto:[email protected]]
> > > Sent: Monday, December 11, 2000 2:37 PM
> > > To: Scott Palmer
> > > Cc: 'Ebner, Daniel'; '[email protected]';
> > > '[email protected]'
> > > Subject: RE: This weekend
> > >
> > >
> > >
> > > Wow, the wood I can kick!!!
> > >
> > >
> > >
> > >
> > > Scott Palmer <[email protected]> on 12/11/2000 02:34:59 PM
> > >
> > > To: "'Ebner, Daniel'" <[email protected]>,
> "'[email protected]'"
> > > <[email protected]>, "'[email protected]'"
> > > <[email protected]>, "'[email protected]'"
> > > <[email protected]>
> > > cc:
> > >
> > > Subject: RE: This weekend
> > >
> > >
> > >
> > > All right - I did the unthinkable, and bought a "half-cord" of
> wood.
> > For
> > > the uninitiated, a half-cord is a stack of roughly 18- to
> 24-inch logs
> > > that
> > > is 8 feet long and 4 feet high.
> > >
> > > I'm going to bring about half of it camping, so we should have
> quite the
> > > fire.
> > >
> > > -----Original Message-----
> > > From: Ebner, Daniel [mailto:[email protected]]
> > > Sent: Monday, December 11, 2000 1:55 PM
> > > To: Scott Palmer; '[email protected]';
> '[email protected]';
> > > '[email protected]'
> > > Subject: RE: This weekend
> > >
> > >
> > > Richard, are you coming. You've been awful quite throughout
> this.
> > >
> > > I think I can scrape together 500 pennies.
> > >
> > > > -----Original Message-----
> > > > From: Scott Palmer [SMTP:[email protected]]
> > > > Sent: Monday, December 11, 2000 12:50 PM
> > > > To: 'Ebner, Daniel'; '[email protected]';
> > > '[email protected]';
> > > > '[email protected]'
> > > > Subject: RE: This weekend
> > > >
> > > >
> > > > OK, I can get some firewood. I assume we're going to need
> quite a
> > bit,
> > > > since we tend to build a pretty big fire every year.
> > > >
> > > > Can I assume that I can get $5 from everybody to help cover
> the cost
> > of
> > > > the
> > > > wood?
> > > >
> > > > The place is easy, there's pretty much only one area to tent
> camp.
> > I'd
> > > > say
> > > > first ones there claim a good site. It's been getting dark
> around
> > 5:00
> > > > lately, so I'd say we need to get there before noon if we're
> going to
> > > get
> > > > a
> > > > decent ride in and be able to pitch tents before it gets dark.
> > > >
> > > > That'll mean an early morning for the Dallas guys.... sorry
> bout that.
> > > >
> > > > -----Original Message-----
> > > > From: Ebner, Daniel [mailto:[email protected]]
> > > > Sent: Monday, December 11, 2000 11:48 AM
> > > > To: Scott Palmer; '[email protected]';
> '[email protected]';
> > > > '[email protected]'
> > > > Subject: This weekend
> > > >
> > > >
> > > > I did some looking for firewood around Coppell this weekend.
> Short of
> > > the
> > > > crap you get from Albertson's that burns up in about 15
> minutes, I
> > could
> > > > not
> > > > find any. This week, I've got something every night so I
> can't shop
> > for
> > > > it.
> > > >
> > > > Can someone be in charge of getting firewood? It's usually
> best to
> > get
> > > > from
> > > > an actual firewood supplier that usually has trucks on the
> side of the
> > > > road.
> > > > Nursuries sometimes have it also. We can split up the cost
> later.
> > > >
> > > > I'm pretty much planning on showing up with my tent, sleeping
> stuff,
> > > food,
> > > > Beam, bike, and lanterns. Is there anything else I need to
> bring?
> > > >
> > > > Also, what time, and where in the park are we meeting?
> > >
> > > |
Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.
We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.
It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:
-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;
-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;
-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;
-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and
-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.
We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.
Core Businesses
Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:
-- Natural gas pipeline businesses;
-- Gas and power businesses in North America and Europe;
-- Retail businesses in North America and Europe; and
-- Coal businesses in North America and Europe.
The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.
I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.
Non-Core Businesses
Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.
We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.
Businesses Under Review
These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.
Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.
Credit Rating/10-Q Filing
We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:
-- Moody's at Baa3 "Under Review for Further Downgrade"
-- Fitch at BBB- "Evolving Status"
-- S&P at BBB- "CreditWatch Negative"
We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.
We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."
In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.
In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron. |
Oops. Didn't mean MWs last time. But I do think that some cutoff higher
than 25 kWs is appropriate for net metering purposes. Where the generator
is substantially smaller than the customer's off-peak minimum load, there
does not seem to me to be a need to exclude it from any net metering
provisions.
-----Original Message-----
From: Christensen, Eric
To: 'Sarah Dennison-Leonard'
Cc: Preston Michie; Marcus Wood; Barney Speckman; John Boucher;
[email protected]; Arlena; [email protected]; [email protected];
Christensen, Eric; Gary Dahlke; Michael Early; [email protected];
Eric Freedman; [email protected]; [email protected]; [email protected];
Steve Larson; [email protected]; [email protected]; [email protected];
Doug Nichols; [email protected]; [email protected]; [email protected];
Don Watkins; Connie Westadt; [email protected]
Sent: 6/23/00 2:39 PM
Subject: RE: Initial E-mail Communication - Subgroup Working on GIA, LIA,
Etc.
Sarah,
The Generation Interconnection Agreement will have to be modified to
accommodate the Net Metering law (R.C.W. Chapter 80.60) that was passed
here
in Washington in 1998. The law covers generators of 25 kW or less that
are
powered by solar, wind, hydro or fuel cells. Washington distribution
utilities are required to install two-way meters for all customers with
such
facilities and to credit those customers for any power produced in
excess of
the customer's needs. We are required to accept all qualified net
metering
customers until the total generating capacity of the net metered systems
reaches 0.1 percent of our 1996 peak load.
Because these generators are tiny and, even in the aggregate, are
unlikely
to have any appreciable effect on the operation of the grid, I think the
easiest approach would be simply to write an exemption into the GIA for
such
net metered generators.
I don't know whether any of the other RTO-West states have net metering
laws. However, net metering has been kicked around quite a bit in
connection with federal restructuring legislation. Hence, we need to
keep
an eye developments in DC in this regard.
Eric Christensen
Associate General Counsel
Snohomish County PUD No. 1
(425) 783-8649
Toll free from WA: (877) 783-1000 x8649
Office fax: (425) 783-8305
Direct fax: (425) 267-6071
[email protected] <mailto:[email protected]>
-----Original Message-----
From: Sarah Dennison-Leonard [SMTP:[email protected]]
Sent: Wednesday, June 21, 2000 5:45 AM
To: [email protected]; Arlena; [email protected];
[email protected]; [email protected]; Gary Dahlke; Sarah
Dennison-Leonard; Michael Early; [email protected]; Eric
Freedman;
[email protected]; [email protected]; [email protected]; Steve
Larson;
[email protected]; [email protected]; [email protected]; Doug Nichols;
[email protected]; [email protected]; [email protected]; Don
Watkins;
Connie Westadt; [email protected]
Cc: Gary Dahlke; Preston Michie; Marcus Wood; Barney
Speckman;
John Boucher
Subject: Initial E-mail Communication - Subgroup Working
on
GIA, LIA, Etc.
Good morning, everyone!
I am sorry it has taken me so long to contact you.
This e-mail is intended to get things rolling for the RTO West
Legal
Subgroup working on the Generation Integration and Load
Integration
Agreements, as well as Security Coordination and Scheduling
Coordinator
Agreements if necessary.
First, for your reference I have attached the following
documents:
(1) a list of participants in our subgroup;
(2) the original IndeGO Generation Integration Agreement
("GIA");
and
(3) the original IndeGO Load Integration Agreement ("LIA").
If you know of anyone who would like to be included in this
subgroup
that
does not appear on the attached participants list, please let me
know. I
will also post each of the attached documents on the RTO West
website, at
the link on the Legal Work Group page set up for our subgroup.
Second, I would like to share some initial feedback I have
received
with
respect to our assigned tasks:
(A) Concerning the Generation GIA, I have the following initial
feedback:
- Carl Imparato has expressed strong concern about existing
provisions in
the GIA designed to address instances when hydro generation
facility
operators are forced to move water through turbines, rather than
spill it,
to avoid dissolved gas super-saturation problems;
- James Mosher has expressed concern that the GIA as currently
drafted does
not adequately address issues unique to Qualifying Facilities,
and
would
like us to work on that; and
- Steve Larson of BPA has contacted me to let me know that BPA
has
developed
some initial comments on the GIA (and LIA), but I have not yet
had a
chance
to have a conversation with BPA representatives about what those
comments
are. I hope to do that sometime tomorrow (Thursday, June 22) if
possible.
(B) I have talked with John Boucher, who leads the
Implementation
Work
Group, and he says that the initial consensus within the
Implementation Work
Group is that we should begin with the approach that security
coordination
for RTO West will be accomplished through the existing
organization
set up
in the Northwest to perform security coordination (Pacific
Northwest
Security Coordinator or "PNSC," which is a Washington non-profit
corporation); and
(C) John Boucher says that the initial thinking in the
Implementation Work
Group about scheduling coordinators as that we should assume
that we
will
have scheduling coordinators for RTO West and therefore will
need to
develop
a scheduling coordinator agreement. With that in mind, I have
also
attached
to this e-mail an e-mail message from Barney Speckman on this
topic.
Barney's e-mail describes input he has received from Carl
Imparato
concerning areas in the West that have already developed
scheduling
coordinator agreements, and includes an e-mail from Carl with
sample
documents. I will also post these on the RTO West website as
soon
as
possible, along with the basic form of Security Coordination
Agreement
developed for PNSC.
I think it might be useful to plan to meet or have a telephone
conference
call during the week of July 10 (early in the week, if possible)
to
discuss
our various tasks and strategies for accomplishing them. If
most of
you are
going to be at the Legal Work Group meeting on June 27, that
might
be a good
opportunity to try to identify a time and date that works for
most
subgroup
members and to decide whether to meet in person or by telephone
conference.
I also hope to make initial "cosmetic" changes to the GIA and
LIA
very soon,
and will put the initial revised versions of those documents on
the
website
as soon as they are ready.
In the meantime, if anyone else has some input they would like
to
offer with
respect to the issues and documents assigned to our subgroup,
you
are
welcome to contact me by e-mail or telephone.
Thank you very much.
Sarah Dennison-Leonard
Krogh & Leonard
506 SW Sixth Avenue, Suite 750
Portland, OR 97204-1533
Office: (503) 219-9649
Fax: (503) 224-1895
E-mail: [email protected] << File: Legal WG - GIA&LIA
Subgroup List June 21 2000.doc.rtf >> << File: IndeGO Generation
Integration Agreement.doc >> << File: IndeGO Load Integration
Agreement.doc
>> << Message: Fwd: NWRTO-Scheduling Coordinator Concept >> |
------------------------------------------------------------------------------
------------------------
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
May 11, 2001 5:00pm through May 14, 2001 12:00am
------------------------------------------------------------------------------
------------------------
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: EES
Time: Sat 5/12/2001 at 1:00:00 PM CT thru Sat 5/12/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 11:00:00 AM PT thru Sat 5/12/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 7:00:00 PM London thru Sat 5/12/2001 at 11:00:00 PM London
Outage: Move vlans for EES in Enron Building
Environments Impacted: EES in Enron Building
Purpose: Provide more capacity to the network
Backout: paste in old configs
Contact(s): Gail Kettenbrink 713-853-4524
Michael Huang 713-345-3201
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: No Scheduled Outages.
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server
(ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides
increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: CORP
Time: Fri 5/11/2001 at 8:00:00 PM CT thru Sat 5/12/2001 at 10:00:00 PM CT
Fri 5/11/2001 at 6:00:00 PM PT thru Sat 5/12/2001 at 8:00:00 PM PT
Sat 5/12/2001 at 2:00:00 AM London thru Sun 5/13/2001 at 4:00:00 AM London
Outage: CPU replacement on server sennacca.
Environments Impacted: RMS
Purpose: Replace faulty CPU that is offline.
Backout: Restore server to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/11/2001 at 5:00:00 PM CT thru Fri 5/11/2001 at 5:15:00 PM CT
Fri 5/11/2001 at 3:00:00 PM PT thru Fri 5/11/2001 at 3:15:00 PM PT
Fri 5/11/2001 at 11:00:00 PM London thru Fri 5/11/2001 at 11:15:00 PM
London
Outage: Decommission of the following servers: intra, intra-dev, conman1,
aserv1, ardent, dbadmin
Environments Impacted: Corp
Purpose: Server no longer used. The servers will be decommissioned or
redeployed where necessary.
Backout:
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 5/12/2001 at 2:00:00 AM CT thru Sun 5/13/2001 at 5:00:00 PM CT
Sat 5/12/2001 at 12:00:00 AM PT thru Sun 5/13/2001 at 3:00:00 PM PT
Sat 5/12/2001 at 8:00:00 AM London thru Sun 5/13/2001 at 11:00:00 PM London
Outage: Resource and OS upgrade to server fracture.
Environments Impacted: Global company RMS ECM
Purpose: An OS upgrade is needed to provide the disk upgrade solution.
Additionanl memory is needed as well.
Backout: Attach the old disk solution and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENA
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sat 5/12/2001 at 10:15:00 PM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 8:15:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 4:15:00 AM London
Outage: Bounce PWRPROD1 database
Environments Impacted: Enpower User
Purpose: Change some configuration to improve database performance
Backout: Use the old parameter file.
Contact(s): Tantra Invedy 713 853 4304
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY:
Impact:
Time: Sat 5/12/2001 at 10:00:00 PM CT thru Sun 5/13/2001 at 1:00:00 AM CT
Sat 5/12/2001 at 8:00:00 PM PT thru Sat 5/12/2001 at 11:00:00 PM PT
Sun 5/13/2001 at 4:00:00 AM London thru Sun 5/13/2001 at 7:00:00 AM London
Outage: Quarterly Maintenance - Telephone System
Environments Impacted: All
Purpose: Quarterly maintenance. While voicemail nodes are being serviced (one
box at a time), a slight disruption will be experienced.
Messages will continue to be stored but will not be delivered until each node
of voicemail is back up and operational.
CMS call center management reporting will not be availalble during this
time.
Backout:
Contact(s): Cynthia Siniard 713-853-0558
TERMINAL SERVER: No Scheduled Outages.
UNIFY:
Impact: CORP
Time: Fri 5/11/2001 at 6:00:00 PM CT thru Fri 5/11/2001 at 7:00:00 PM CT
Fri 5/11/2001 at 4:00:00 PM PT thru Fri 5/11/2001 at 5:00:00 PM PT
Sat 5/12/2001 at 12:00:00 AM London thru Sat 5/12/2001 at 1:00:00 AM London
Outage: Memory replacement for server electron.
Environments Impacted: Unify Users
Purpose: Replace faulty memory module.
Backout: Get new memory if necessary
Restart server with out memory as last resort
Contact(s): Malcolm Wells 713-345-3716
------------------------------------------------------------------------------
-----------------------------------------------
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 |
Charles Schwab & Co., Inc.
Midday Market View(TM) for Friday, June 1, 2001
as of 1:00PM EDT
Information provided by Standard & Poor's
================================================================
U.S. INDICES
(1:00p.m. EDT)
----------------------------------
Market Value Change
DJIA 10,915.10 + 3.20
Nasdaq Comp. 2,135.06 + 24.57
S&P 500 1,256.18 + 0.36
----------------------------------
NYSE Advancing Issues 1,484
NYSE Declining Issues 1,466
NYSE Trading Volume 521 mln
NASDAQ Advancing Issues 1,868
NASDAQ Declining Issues 1,640
NASDAQ Trading Volume 815 mln
==================================
U.S. TREASURIES
----------------------------------
Value Yield Change
1-year bill 3.53% n/a
5-year note 4.91% - 1/32
10-year note 5.35% + 5/32
30-year bond 5.70% + 20/32
The tables above look best when viewed in a fixed-width font,
such as "Courier."
================================================================
U.S. TRADING SUMMARY
The NASDAQ's price action remains something of a conundrum for
traders as volatile action has characterized the performance of
the tech heavy index. After an initial rally on payroll figures
that were not as weak as feared, and a subsequent selloff later
in the session on weaker-than-expected manufacturing data, the
NASDAQ clawed its way back to its highs of the day. Indeed,
bargain hunters continue to support the index by buying on the
dips. The gains on the NASDAQ have also helped bring the Dow and
S&P 500 off early lows. Sectors outperforming during today's
session included the semiconductors, computer software, drugs and
healthcare providers. Insurance providers, telephone and electric
power companies were the worst-performing sectors.
----------------------------------------------------------------
U.S. TREASURY SUMMARY
Treasuries were broadly higher across the board in midday
trading. Initially, a stronger-than-expected payroll report
weighed on the longer-dated issues, but poor manufacturing data
helped the bond turn the corner and rally sharply higher.
Subsequent weakness in the stock market was also supportive for
Treasuries, though the shorter-dated issues remained constrained
by beliefs the Federal Reserve is nevertheless nearing the end of
its current interest-rate easing cycle.
----------------------------------------------------------------
CURRENCY SUMMARY
The euro failed to breach the 0.850 level, with the common
currency now likely to trade within a narrow range for the
remainder of the session. Dealers report European selling
interest near the highs. The euro was trading around 0.846
dollars per euro by midday, just off session lows. As for the
yen, the dollar remains around the 119 yen level.
----------------------------------------------------------------
MAJOR COMPANY / INDUSTRY NEWS
(All prices as of 1:05 p.m. EDT)
** General Motors' (GM: 56.75, - 0.15) proposal to buy Daewoo
motors of Korea has come under fire from Daewoo's workers union.
Five representatives from Korea left for the U.S. to protest the
GM bid along with union representatives from the United States.
For many years, unions have strongly resisted any selling of key
businesses to foreigners due to the fear of mass layoffs at the
companies that are taken over.
** Tyco International (TYC: 56.93, - 0.52), a conglomerate that
makes a diverse array of items from smoke detectors to medical
supplies along with managing a finance business, reported that it
plans to sell $2.2 billion in common stock in a public offering
to repay current debt. Tyco grows its business through
acquisitions of other companies, but servicing the accumulated
debt of these purchases can weigh on profits. Tyco will sell 39
million shares, and the offering is scheduled to close on June 6.
Lehman Brothers will be the lead underwriter.
** Vivendi (V: 63.48, - 0.32) agreed on Friday to buy educational
publisher Houghton Mifflin (HTN: 59.51, + 4.95) for $2.2 billion
in cash and debt. The French entertainment conglomerate will
offer $60 per share for a 10% premium over Houghton's closing
price on Thursday. Houghton Mifflin is the last independent
educational publishing firm. Vivendi has been on a buying binge
of late as it looks to shore up its global leadership positions
at all of its media and content businesses.
----------------------------------------------------------------
RESEARCH SPOTLIGHTS
** Merrill Lynch upgraded shares of Novellus Systems (NVLS:
49.96, + 2.06) from an intermediate-term neutral to an
intermediate-term accumulate rating.
** Buckingham Research upgraded shares of Value City Department
Stores (VCD: 10.45, + 0.20) to an accumulate rating and gave a
$15 price target.
** Morgan Stanley upgraded shares of Watson Pharmaceuticals (WPI:
62.88, + 2.78) to a strong buy rating and gave a $78 price
target.
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TODAY'S HEADLINES
The New York Times on the Web
Thursday, May 10, 2001
------------------------------------------------------------
For news updated throughout the day, visit www.nytimes.com
QUOTE OF THE DAY
=========================
"We like living here. It's a beautiful place. The only thing
we don't like, you can't make any money to survive. My son
is getting straight A's. He's not going to be around here."
- FRED PRATT, of Morland, Kan.
Full Story:
http://www.nytimes.com/2001/05/10/national/10TOWN.html
NATIONAL
=========================
Bit by Bit, Tiny Morland, Kan., Fades Away
http://www.nytimes.com/2001/05/10/national/10TOWN.html
U. of Virginia Hit by Scandal Over Cheating
http://www.nytimes.com/2001/05/10/national/10CHEA.html
Smithsonian Is Promised $38 Million, With Strings
http://www.nytimes.com/2001/05/10/national/10SMIT.html
Western Governors Turn Focus to Need for More Power Lines
http://www.nytimes.com/2001/05/10/national/10GRID.html
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http://www.audible.com/nyt/feboffer3
\---------------------------------------------------------/
POLITICS
=========================
In Show of Unity, House Republicans Pass Budget Bill
http://www.nytimes.com/2001/05/10/politics/10HOUS.html
Price of Gasoline May Pose Problem for White House
http://www.nytimes.com/2001/05/10/politics/10POLI.html
White House Asks Unions to Meet on Energy Policy
http://www.nytimes.com/2001/05/10/politics/10ENER.html
Bush Appeals for Peace on His Picks for the Bench
http://www.nytimes.com/2001/05/10/politics/10JUDG.html
INTERNATIONAL
=========================
Families of Chechnya's Disappeared Seek Answers
http://www.nytimes.com/2001/05/10/world/10CHEC.html
Mexico's Leader Is Finding the Democratic Road Bumpy
http://www.nytimes.com/2001/05/10/world/10FOX.html
Death Toll Thought to Top 100 in a Soccer Stampede in Ghana
http://www.nytimes.com/2001/05/10/world/10GHAN.html
2 Jewish Teenagers Are Beaten to Death in the West Bank
http://www.nytimes.com/2001/05/10/world/10ISRA.html
BUSINESS
=========================
Suits Accuse Drug Makers of Keeping Generics Off Market
http://www.nytimes.com/2001/05/10/business/10DRUG.html
Public Ventures Do Private Deals but Sometimes Are Left
Bloodied
http://www.nytimes.com/2001/05/10/business/10PIPE.html
Firm Auditing MicroStrategy Settles Lawsuit
http://www.nytimes.com/2001/05/10/business/10AUDI.html
Black Sales Agents File Discrimination Suit Against Xerox
http://www.nytimes.com/2001/05/10/business/10BIAS.html
TECHNOLOGY
=========================
Looking Back at My First PC
http://www.nytimes.com/2001/05/10/technology/10BLUE.html
Hackers Report a Truce
http://www.nytimes.com/2001/05/10/technology/10HACK.html
Nintendo Grows Up and Goes for the Gross-Out
http://www.nytimes.com/2001/05/10/technology/10CONK.html
How It Works: Fuel Cells Provide Clean, Reliable (and
Pricey) Electricity
http://www.nytimes.com/2001/05/10/technology/10HOWW.html
NEW YORK REGION
=========================
Yellow Cabs Battle Invasion of Their Turf
http://www.nytimes.com/2001/05/10/nyregion/10CABS.html
Friends Mourn Slain Bronx Girl as Police Investigate
http://www.nytimes.com/2001/05/10/nyregion/10GIRL.html
Board Allows Rent Increases of 3% and 5%
http://www.nytimes.com/2001/05/10/nyregion/10RENT.html
Ferrer Refuses Endorsement Linked to Race
http://www.nytimes.com/2001/05/10/nyregion/10MAYO.html
SPORTS
=========================
Devils Beat Toronto to Advance
http://www.nytimes.com/2001/05/10/sports/10DEVI.html
Niedermayer Shouldn't Have Played in Devils Game, and He
Didn't
http://www.nytimes.com/2001/05/10/sports/10ANDE.html
A Masterful Clemens Nibbles at a No-Hitter
http://www.nytimes.com/2001/05/10/sports/10YANK.html
This Time, It's Iverson's Turn to Light the Fire
http://www.nytimes.com/2001/05/10/sports/10SIXE.html
ARTS
=========================
Christopher Wheeldon, City Ballet's Meteor, Lights Up the
Mirror
http://www.nytimes.com/2001/05/10/arts/10WHEE.html
Ken Kesey, Checking In on His Famous Nest
http://www.nytimes.com/2001/05/10/arts/10KESE.html
A Supermodel of a Hotel Sashays to Astor Place
http://www.nytimes.com/2001/05/10/arts/10NOTE.html
'Wingspan': Home Movies Starring the Cute Beatle
http://www.nytimes.com/2001/05/10/arts/10GATE.html
OP-ED COLUMNISTS
=========================
By BOB HERBERT: Mr. Ferrer's Dilemma
Bronx borough president Fernando Ferrer's courting of the
Rev. Al Sharpton's support has provided a bumpy start to a
New York City mayoral campaign.
http://www.nytimes.com/2001/05/10/opinion/10HERB.html
By WILLIAM SAFIRE: Battle of the Blue Slips
Senate Democrats prepare for war over President Bush's
judicial nominations.
http://www.nytimes.com/2001/05/10/opinion/10SAFI.html
HOW TO CHANGE YOUR SUBSCRIPTION
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Times on the Web, please contact Alyson Racer at
[email protected] or visit our online media kit at
http://www.nytimes.com/adinfo |
?
?
-----Original Message-----
From: Mary Pate [mailto:[email protected]]
Sent: Wednesday, November 29, 2000 9:35 PM
To: Wilson Pate; Robert Johnson; Graham Pate; Paige Pate; Gene Graham;
Suzanne Mauze; Cissy Bankhead; Jim Bankhead; Margaret Herring; Sally Kritser;
Barbara Harkins; Carolyn Garner; Sandra Gilliland; Mary Nell Lemert;
[email protected]; kenna dubose; Patty Christian; D'Layne Peeples;
Murray/Jeri Gossett
Subject: Fw: NASA and the Bible
?
?
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----- Original Message -----
From:Robert Johnson
To:'Wilson (Home)' ; 'Mary Pate' ; 'mary pate'
Sent:Wednesday, November 29, 2000 1:10 PM
Subject:FW: NASA and the Bible
?
?
-----Original Message-----
From: Doug Jackson [mailto:[email protected]]
Sent: Tuesday, November 28, 2000 9:40 PM
To: Jeannie Dunston; Nita Vaughn; Jim Swafford; Vicki Rusche; Marivel
Robinson; Cheryl Ann Raffanti; North Hills Place; Cyndi Pitman; John W.
Lyon; Mark E. Lyon; Morris Lloyd; Gayland Laing; Robert Johnson; Stefani
Jackson; Sean D. Jackson; Pat Ivie; Francis Hung; Laura Hudler; William
Hills; Dave Garber; Thomas J. Freytag; Steve Elken; Lohren Edney; John
W. Demars; Isibelle DeBaun; Suzanne Cunningham; Jim Brown; Ken Braddy;
Eva Aromi; Toni Anderson
Subject: NASA and the Bible
?For all the scientists out there and for all the students who have a hard
time convincing these people regarding the truth of the Bible...here's
?something that
?shows God's awesome creation and shows that He is still in control. Did
you
? know that the space program is busy proving that what has been called
"myth" in the Bible is true?
?Mr. Harold Hill, President of the Curtis Engine Company in Baltimore
Maryland and a consultant in the space Program relates the following
development.
?"I? think one of the most amazing things that God has for us today
happened recently to our astronauts and space scientists at Greenbelt,
Maryland.
They were checking the position of the sun, moon, and planets out in space
where they would be 100 years and 1000 years from now.? We have to know this
so we won't send a satellite, up and have it bump into something later on in
its orbits. We have to lay out the orbits in terms of the life of the
satellite, and where
the planets will be so the whole thing will not bog down.
They ran the computer measurement back and forth over the centuries and it
?came to a halt. The computer stopped and put up a red signal, which meant
?that there was something wrong either with the information fed into it or
with the results as compared to the standards.
?They called in the service department to check it out and they said,"What's
wrong?" Well, they found there is a day missing in space in elapsed time.
They
?scratched their heads and tore their hair. There was no answer.
?Finally, a Christian man on the team said, "You know, one time I was in
?Sunday School and they talked about the sun standing still."
?While they didn't believe him, they didn't have an answer either, so they
?said, "Show us." He got a Bible and went back to the book of Joshua where
?they found a pretty ridiculous statement for any one with "common sense."
?There they found the Lord saying to Joshua, "Fear them not, I have
delivered
them into thy hand; there shall not a man of them stand before thee."
?Joshua was concerned because he was surrounded by the enemy and if
darkness fell they would overpower them. So Joshua asked the Lord to make
the
sun
?stand still! That's right-"The sun stood still and the moon stayed and
hasted not to go down about a whole day!"?? (Joshua 10:12-13)
The astronauts and scientists said, "There is the missing day!"? They
checked
the computers going back into the time it was written and found it was close
but not close enough. The elapsed time that was missing back in Joshua's day
was
23 hours and 20 minutes-not a whole day.
?They read the Bible and there it was "about (approximately) a day." These
?little words in the Bible are important, but they were still in trouble
because if you cannot account for 40 minutes you'll still be in trouble
1,000
years from now.
Forty? minutes had to be found because it can be multiplied many times over
in orbits.
?As the Christian employee thought about it, he remembered somewhere in the
?Bible where it said the sun went BACKWARDS. The scientists told him he was
?out of his mind, but they got out the Book and read these words in 2 Kings
?that told of the following story: Hezekiah, on his deathbed, was visited
by the prophet Isaiah who told him that he was not going to die. Hezekiah
asked for a sign as proof.
?Isaiah said "Do you want the sun to go ahead 10 degrees?"
Hezekiah said "It is nothing for the sun to go ahead 10 degrees, but let
the shadow return backward 10 degrees."
Isaiah spoke to the Lord and the Lord brought the shadow ten
degreesBACKWARD!
Ten degrees is exactly 40 minutes! Twenty-three hours and 20 minutes in
?Joshua, plus 40 minutes in Second Kings make the missing day in the
universe!
?Isn't it amazing?
?References: Joshua 10:8 and 12, 13 and 2 Kings 20:9-11.
?Forward this to as many people who you believe would think this is equally
as cool.
?Never be afraid to try something new.? Remember, amateurs built the ark.
?Professionals built the Titanic.
?
?Have a great day!
"WorldSecure <firstsw.com>" made the following
annotations on 11/29/00 13:10:01
------------------------------------------------------------------------------
[INFO] -- Content Manager:
First Southwest Company is not responsible for any recommendation,
solicitation, offer or agreement or any information about any transactions,
customer account or account activity contained in this communication.
============================================================================== |
Forwarded at the request of Joe Hillings.
Encl: The following persons please review the attachment found at the end of
this document.
Ken Lay, David Merrill, Mike Dahlke, Rebecca McDonald, Paul Adair, Michael
L. Brown, Carey Sloan, John Fugh, Manual Gallego, Darrell Kinder. Thank
you.
---------------------- Forwarded by Lora Sullivan/Corp/Enron on 11/15/99
10:40 AM ---------------------------
Tina Valdecanas <[email protected]> on 10/29/99 05:15:48 PM
To:
cc: (bcc: Joe Hillings/Corp/Enron)
Subject: ACTION: Comments on WTO Briefing Paper
TO: US-ASEAN Business Council Members
FROM: Tina Valdecanas
P: 202/289.1911, ext. 230; e-mail [email protected]
Web-site: http://www.us-asean.org
DATE: 29 October 1999
RE: ACTION: Comments on WTO Briefing Paper
Summary: The attached draft is being circulated among US-ASEAN Business
Council members for input. The briefing paper will be presented to the
ASEAN Trade Ministers who will be attending the WTO Ministerials in
Seattle in November/December 1999. Please forward comments to me by cob
Friday, November 19, 1999. End Summary.
The US-ASEAN Business Council is developing a briefing paper for the
ASEAN Trade Ministers who will be attending the World Trade Organization
Ministerials in Seattle, WA later this year. Trade representatives from
Brunei, Malaysia, Indonesia, Singapore, the Philippines, and Thailand
are expected to attend.
To ensure that member concerns are addressed in the paper, please send
comments/suggestions regarding the below draft to me at
[email protected] by c.o.b. Friday, November 19, 1999. I will
circulate a final draft the week of November 22. Thank you.
*****
US-ASEAN Business Council Briefing Paper
PRIORITY BUSINESS ISSUES
prepared in advance of the
WTO Ministerials
November 1999
A group of 400 of America's leading companies, the US-ASEAN Business
Council prides itself as being dedicated to effectively strengthen
bilateral and US-ASEAN relations through strong economic and commercial
ties. The Council is committed to promoting open and free trade globally
with the belief that such an environment is of benefit to all. Open and
transparent markets translate into economic growth and the opportunity
to raise the standards of living of the world's people. In addition to
providing a larger range of goods and services, rules-based, open
markets allow countries to be more competitive in the international
arena.
In this spirit, the Council's members offer this briefing paper as a
compilation of the commercial issues we consider of highest priority at
the onset of the new round of the WTO negotiations. This is not a
comprehensive roster, rather attention has been given to issues which:
* Hold priority status for American businesses seeking to expand
their trade and investment ties in ASEAN; and,
* Have been advanced significantly through the APEC process and
have a realistic prospect of being concluded within the three year
timeframe.
PRIORITY ISSUES
Accelerated Tariff Liberalization: The agreement reached at the recent
APEC Leaders' Meeting in Auckland has provided the critical mass
necessary for action on accelerated tariff liberalization in eight
priority sectors within the framework of the WTO. Continued tariff
reduction will have wealth creating and efficiency enhancing effects on
global trade. The end result would be a larger international market that
will encourage the continued foreign investment and global capital
flows.
Agriculture: A robust global food system that efficiently links food
production, food processing and consumption, is vital to continuing
development world-wide. Council members support initiatives to remove
all export subsidies and to reduce tariffs on agricultural products. The
Council also supports activities to ensure market-access for
agricultural products enhanced with the use of biotechnology. Use of
this technology provides a safe and sufficient food supply while
ensuring the safety of food sources and environment through strong and
transparent science-based domestic regulatory systems.
Customs issues: The Council is encouraged by the positive progress being
made in the area of Customs reform and liberalization. In the context of
this on-going cooperation, members hope to see the adoption of the
International Express Carriers Conference (IECC) Guidelines for Customs
and encourage governments to continue to address: electronic
pre-clearance in a paperless environment; twenty-four hour customs
operation; elimination of export clearance procedures; higher deminimus
levels; transshipment without processing; and payment of duties and
taxes for imports at defined periods rather than upon arrival. Each of
these actions would improve the speed or lower the expense of shipment.
Countries that have adopted measures along the lines of the above have
reduced the bottleneck effect that Customs can create and have improved
the competitive environment for companies within their borders. This
attracts investment, which creates jobs and wealth.
E-commerce: In the past few years, electric or "E-Commerce" has expanded
the depth and breadth of global commerce. Although the physical
infrastructure is quickly spreading to support such transactions, the
legal and regulatory framework is still being developed. Both suppliers
and consumers of E-commerce will benefit from an improved legal
environment and measures to benchmark policies and best practices in
member economies. To ensure that the industry continues to develop, the
WTO should give special priority to adopting a permanent moratorium on
the imposition of duties on electronic commerce.
Energy: With growing demand for energy and calls for clean and efficient
use of resources, the WTO should look to promote the diversification of
energy supply and a market-driven energy infrastructure development.
Well-functioning markets, greater energy efficiency and information
flows among market participants will aid in sustainable and equitable
growth globally. The WTO should support initiatives like the APEC
Natural Gas Initiative signed by the Energy Ministers at Okinawa last
year and the ongoing policy dialogues to address energy service-oriented
issues related to the development, extraction, production, distribution,
marketing, consumption of all energy products..
ITA: The US private sector applauds the advances made under the 1997
International Technology Agreement (ITA) and looks forward to the
beginning of negotiations for the second phase of the agreement. While
the November 1998 ITA II package does not meet all of our expectations,
the Council's members are confident agreements resulting from the
successful passage of ITA II will increase product coverage, encourage
progress on the elimination of non-tariff measures, and lead to the
harmonization of tariff classification of products already covered in
previous negotiation rounds. The continued review and revision of the
ITA's product coverage will further expand and distribute the benefits
of information technology globally, and is a fundamental necessity for
such a fast-paced, dynamic industry.
Although the Council would encourage discussion of ITA-II during the
upcoming round of WTO negotiations, we believe that the ITA-II
negotiations should remain independent and should be concluded as soon
as possible. |
FYI - I believe that Shona will prove to be a great asset to Enron. We are
following up on her leads for talent. --Sally
---------------------- Forwarded by Sally Beck/HOU/ECT on 05/25/2000 01:53 PM
---------------------------
From: Shona Wilson @ ENRON 05/25/2000 09:00 AM
To: Tony Vasut/HOU/ECT@ECT, Sally Beck/HOU/ECT@ECT
cc:
Subject: People to consider recruiting
As requested, I've created a list of people who:
have mentioned to me that they are interested in changing careers/companies or
I think would be a great asset to Enron.
I've jotted down what I know about each person and I hope you find it
useful. I've organized it from most experienced to least experienced. If
you would like to talk me about any of these people or ask me to contact
them, just let me know.
Andy Dunn - until 2 weeks ago he was a director in the PwC risk management
practice. Due to a falling out between Andy and the partners (not client
related), he left the firm. He is extremely well respected by both the audit
and the non-audit personnel, and his leaving came as an unexpected surprise.
I have worked with him on a number of occasions and would highly recommend
him to Enron. The downside to Andy is that he lives in Denver, is used to
travelling a lot, but, at the last time we spoke (a few months ago), is not
interested in leaving Denver. His cell phone (if still in use) is 303 807
0040.
Mark (Allan) Smith - Mark is in the PwC energy risk management practice in
Houston. We worked very closely together throughout 1999 on projects for
Coral Energy and Equiva trading. Prior to working at PwC, Mark was at BP for
15 years where he had many different roles (he worked as a crude trader,
products trader, he worked in the risk management department, in the refinery
itself as an engineer). Mark was excellent to work with. Clients are
extremely impressed with his knowledge and background. I would highly
recommend him for a leadership role at Enron. I spoke to him yesterday and
he is interested in talking with you. His direct number is 713 356 4233.
His cell phone number is 713 412 3890.
Alan Beaton - senior manager KPMG's systems control group (IRM). He works
with my husband. I know him on a personal basis. He is trying to find
opportunities outside of the audit/consulting area (general line 713 319
2000).
Marilyn Chee - She currently works for Equiva trading, manager in-charge of
accounting for derivatives. Her role has expanded to encompass FAS 133 and
all mtm accounting entries. She liases with all book heads (crude and all
products). In the past, she worked in the Texaco internal audit department.
She was my main contact at Equiva when I was at PwC. She is extremely
diligent and very professional. I enjoyed working with her greatly and have
to say she was one of the best people I have worked with in the capacity of a
client/professional relationship. Marilyn has a lot of responsibilities at
the alliance and is extremely well respected. She has had a difficult year
as she is doing a job that should be done by 3+ people. She has mentioned to
me that she is not happy about the fact that her load continues to increase,
and has even mentioned finding another job. However, due to the fact that
she is so well respected where she is, she may be difficult to recruit (713
277 6280). If you contact her I would not want my name associated with it
due to the PwC/alliance relationship.
Rebecca Crider - She has been working at Coral Energy for approximately a
year, reporting to the VP of risk control. Before that she was an audit
manager at AA. I have worked with her briefly and she seemed very
conscientious. I do not know if she is looking or not, but its worth a try!
(713 230 3000 general line).
Kim Nelson - She is a manager in the risk group at AA, and just transferred
over from KPMG. I have not met her, but I did hear that she is not doing
what she had expected at AA. I don't know her number but you could reach her
at the general AA line.
Kevin Schroder - audit manager at KPMG in the energy department. I do not
know him, but do know he is looking for opportunities outside the
audit/consulting area (general line 713 319 2000).
Keith Considine - He is currently a senior accountant at PwC. He is the best
senior PwC Houston has, as well as probably one of the best people I have
ever worked with (the top of his class). Although he only has 4 years of
work experience (all at PwC), he performs in a manager capacity. He worked
for me on the Coral Energy audit engagement and received an excellent
evaluation from both myself and the partners (we all agreed that he is one of
the best people any of us have seen or worked with). He is currently working
on a project at one of PwC's clients to standardize their mid office
processes . He definitely does not see himself as a long time employee of
PwC, but is currently planning on staying there until he is promoted to
manager. I actually recommended him for a promotion to manager at July 1
this year, but due to capacity issues, I don't expect that the promotion will
be approved. Since I've only been with Enron a short time and would like to
continue good relations with PwC, I would appreciate whoever contacts Keith
to elude that it is someone else other than myself who gave you his name. His
number is 713 356 5617.
Dave Simpson - analyst at Koch Energy in Houston, has a degree in accounting
and has work experience of about 9 months. He is very interested in leaving
Koch. I know him on a person basis, but have not worked with him. He is a
good guy and very likeable. I don't have his phone number, but should be
reachable through the general number for Koch.
Admin assistants
Connie Shugart - she is currently working at PwC as an administrative
assistant. She is also involved in recruiting experienced personnel for
PwC's audit and internal audit service lines. She is very interested in
Enron and has asked me a few times to get her a contact here. I have not
worked directly with her but due to her close proximity to my office I talked
to her a number of times and was very impressed. (713 356 4000 - general PwC
number).
Ellen Robertson - She is an administrative assistant who is looking to leave
PwC. I have never worked with her, but she did come to ask me my opinion on
how she should go about finding other work. (713 356 4000 PwC general line). |
-----Original Message-----
From: JONESNEWS -- Jones School News <[email protected]>@ENRON On Behalf Of Maileen Hamto <[email protected]>
Sent: Friday, November 16, 2001 8:41 AM
To: [email protected]
Subject: [JONESNEWS] @Jones: News and Information from the Jones School
@Jones: News and Information from the Jones School
November 15, 2001
Financial Times Rankings
Dean Whitaker in Time Magazine
Dean's Lecture Featuring John Campbell, CEO, H-E-B Central Market --
November 28
Rice Alliance Networking Event -- December 4
Alumni Happy Hour -- December 5
Jones Student Association Partio -- December 6
All-Class Reunion -- February 28 - March 2, 2002
Prof. Stephen Zeff Honored By Academy of Accounting Historians
Jones Team Wins 3rd in 2nd Annual Marketing Case Competition
Class Gift Campaign: Frequently Asked Questions
Rice MBAby Rompers
Admissions Counselors
History
Live Construction Webcam
Campaign
-----------
News
-----------
Our MBA for Executives Program is not included in the recent Financial Times
rankings because we are too young. The Financial Times surveyed alumni from
1998. Our first EMBA class graduated in 2000.
Dean Gil Whitaker was featured in the global business edition of the October
29 issue of Time magazine where he was identified as a "World Beater: People
to Watch in International Business." Whitaker was chosen for his efforts to
diversify the school and pictured with a number of black, Hispanic and women
students. The entire article and photos will be posted on the website soon.
http://jonesgsm.rice.edu/content/content.cfm?PageID=195
John Campbell, Chief Executive Officer of H-E-B's Central Market, will be
the Dean's Lecture Series featured speaker Wednesday, November 28, from 9:45
to 11:15 a.m., Herring Hall. Campbell, who began his career as a store
checker at H-E-B 30 years ago, led the way to create the premier fresh-food
emporium for people who love food. After years of witnessing customers armed
with coolers driving hundreds of miles to the first Austin location, H-E-B
has expanded the Central Market concept with an additional store in Austin,
one in San Antonio, and another in Houston, which opened May 2001.
http://jonesgsm.rice.edu/content/content.cfm?PageID=104&AnnounID=196
The Rice Alliance for Technology and Entrepreneurship will host a networking
event December 4 at the Hyatt Regency downtown. The event will be a part of
The Capital Network's BioTech Venture Conference scheduled for December 4
and 5. For more information, contact [email protected], phone 713-348-3443,
or visit http://alliance.rice.edu.
Alumni are invited to the next Alumni Happy Hour, to be held Wednesday,
December 5 at The Gingerman located at 5607 1/2 Morningside Drive in the
Rice Village area. Look for the JGS Alumni meeting area, designated by a
blue and white Rice tabletop sign. The event, a chance to network with
fellow alumni, will be very informal. Please come after work (around 6:00
ish), bring friends and look for other JGSers! If you would like to
participate in planning these events or have additional input, please feel
free to contact either Brian Harry (MBA '99) at
[email protected], Mira Balakrishnan (MBA '95) at
[email protected], or the JGS Alumni Office at
[email protected].
The Jones Student Association hosts the last Partio for the fall session
between 4 and 6 p.m. on Thursday, December 6, at the Herring Hall Patio. For
more information, contact [email protected] or call 713-348-5371.
http://jonesgsm.rice.edu/news/calendar/index.cfm?EventRecord=2307&DD=0
Mark your calendars for the third annual All Class Alumni Reunion Event,
scheduled from Thursday through Saturday, February 28 - March 2, 2002. Chuck
Watson, CEO, Dynegy, is keynote speaker for the 27th Annual Alumni Dinner
scheduled for February 28. Participants will enjoy the annual student/alumni
golf tournament, new building tours, and the annual reunion reception on
March 1. Alumni College and the Dean's Lunch will be held on March 2. For
more information, contact Deanna Sheaffer, MBA '96, Director of Alumni
Affairs, [email protected].
For his work on a biography commended by accounting history scholars
throughout the world, Prof. Stephen Zeff, Herbert S. Autrey Professor of
Accounting, receives his second Hourglass Award from the Academy of
Accounting Historians.
http://jonesgsm.rice.edu/content/content.cfm?PageID=104&AnnounID=197
At the 2nd Annual Marketing Case Competition held this past weekend, the
Jones School team of John Andell, Jeffrey Floresca, Cheryl Lo, Christi
Neuenschwander, and Jacob Ratner won third prize. First prize went to the
Yale University team, while the team from the University of Minnesota won
second prize. Seven teams competed at the event, the largest marketing case
competition in the nation.
The Jones Graduate School Class Gift Challenge is to get all classes to make
class gifts to the Jones School in honor of the Next Century Campaign and
the 26th graduating class. The class (or classes) with the highest
participation rate will be honored with a dinner in the new building. For
more information, contact Maya Houston, [email protected]; phone
713-348-6145. http://www.jonesgsm.rice.edu/campaign/campaign_alumni3.html
Alumni Moms and Dads may receive a free Rice MBAby baby romper for the
newest addition to their family. Send us a picture of your baby
wearing the romper for the alumni website.
http://jonesgsm.rice.edu/alumni/alumni_keeping.html
---------
Online
---------
Admissions counselors recruit, interview and evaluate prospective
candidates. An elite group of second year students, these counselors embody
the collaborative, diverse, and enriching experience that represents the
Rice MBA. http://jonesgsm.rice.edu/content/content.cfm?PageID=145
As the Jones School celebrates its 25th anniversary, we invite you take a
retrospective look at the last 25 years and a peek into the future of the
Jones School. http://jonesgsm.rice.edu/alumni/history
Visit the construction web cam URL for up-to-the-minute live feeds of the
new Jones School building construction.
http://jonesgsm.rice.edu/campaign/Jonescam. For construction notes and
updates, click http://project.rice.edu/jones/.
Learn about new and upcoming initiatives and programs at the school, and
view artist renderings of the new $60 million building, currently under
construction. http://jonesgsm.rice.edu/campaign.
---------------------------------------
@Jones: News and Information from the Jones School, the Jones School
e-newsletter, is published monthly by the Public Relations Department of the
Jesse H. Jones Graduate School of Management. The Jones School website
http://jonesgsm.rice.edu is updated frequently and we encourage you to visit
the site regularly to get the latest news and information about new
initiatives and programs at the Jones School. To submit items to be posted
on the Jones School website, please e-mail [email protected] or call
713-348-6364. |
Dear Investor,
So far, so good.
My early-October projection of Dow 10,000 by
Thanksgiving came true a few days early. Now I expect
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------------------------------------------------------
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Sunday Jan 13, 2002 09:07:37 |
Alan --
Not sure if the West Desk is interested in Demand Bidding issues with the
ISO, but wanted you to loop around with the commercial people to see if there
are any specific problems with the current ISO programs.
Please communicate any issues with Harry Kingerski.
Jim
----- Forwarded by James D Steffes/NA/Enron on 03/26/2001 08:33 AM -----
Harry Kingerski
03/23/2001 04:00 PM
To: Neil Bresnan/HOU/EES@EES, Jay Ferry/HOU/EES@EES, Fred L
Kelly/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Jubran Whalan/HOU/EES@EES, Dennis
Benevides/HOU/EES@EES
cc: Leslie Lawner/NA/Enron@Enron, Alan Comnes/PDX/ECT@ECT, Jeff
Dasovich/NA/Enron@Enron, James D Steffes/NA/Enron@Enron
Subject: FW: Demand Bidding Legislation (what used to be AB31X- Wright)
We are working to get demand bidding into CA legislation (AB31X). The ISO
wants from us our laundry list of issues of why their existing programs are
inadequate. This is a great opportunity to influence them.
Neil and Jubran, could you give us your specific issues and suggestions? Jay
and Fred, any suggestions would be great from you also.
We will set up a call for Monday at 4 pm CST to discuss and will get phone
number out to you. Thanks.
----- Forwarded by Harry Kingerski/NA/Enron on 03/23/2001 03:50 PM -----
MDay <[email protected]>
03/23/2001 03:37 PM
To: "'Harry Kingerski'" <[email protected]>, "'Jim Steffes, Enron'"
<[email protected]>, "'Leslie Lawner, Enron'" <[email protected]>, "'Sandi
McCubbin Enron SF'" <[email protected]>
cc: "'Jeff Dasovich Enron SF'" <[email protected]>, "'Scott Govenar, Enron
lobbyist'" <[email protected]>, "'Sue Mara at Enron SF'" <[email protected]>,
"'Bev Hansen, Enron lobbyist'" <[email protected]>, "'Hedy Govenar, Enron
Sacto lobbyist'" <[email protected]>
Subject: FW: Demand Bidding Legislation (what used to be AB31X- Wright)
Here is a note from Mike Florio of the ISO Board. This is encouraging, he
wants to talk further about how the ISO programs can be changed to
accomplish what we want. What would be most helpful is an item by item
analysis by EES (read: Harry and his people) as to why the existing or
proposed ISO programs are inadequate (or why we need to have 31X amended to
have the ISO do programs for direct access customers parallel to the utility
programs in 31X.) I need this information soon in order to keep the
dialogue going with Florio. Thanks for your help. Mike Day
-----Original Message-----
From: Mike Florio [mailto:[email protected]]
Sent: Wednesday, March 21, 2001 7:51 PM
To: MDay
Subject: Re: Demand Bidding Legislation (what used to be AB31X- Wright)
Just to show how up to speed I am, I thought that the ISO was already
planning to do this. Their presentation on demand programs at the last
board meeting showed a scheduling coordinator option and a UDC option, with
different billing and settlement provisions for each. But it's hard for me
to judge what is adequate (and user-friendly) and what is not absent some
expert help. I'm definitely interested in the concept and have no great
faith in utility management of programs of this nature. Let's pursue.
MIKE
P.S. In his own inimitable way, Dan Richard "offered" me the ORA job way
back when. I said: "Gee, Dan, I thought we were friends!" When he acted
all surprised and hurt in that way of his, I reminded him that Marty Lyons
and Mark Loy come with the turf. End of discussion.
At 05:05 PM 3/21/2001 -0800, you wrote:
>Mike:
>
>I wanted your reaction to a proposal we were making in response to the
>Wright 31X bill on demand bidding programs. We strongly support these
>programs, and feel that ESPs can bring a lot of benefit to the program by
>aggregaring customers, educating them on the benefits of bidding
"Negawatts"
>and helping to meter and verify their load reductions. We are certain that
>we could help enroll more customers in the program than if the utilities
>alone were in charge. So, we proposed language for 31X which allowed ESPs
>to aggregate customers in the utility day ahead and hour ahead programs,
and
>proposed an additional day ahead program based on economic value, (not
>reliability criteria, like reserve margins).
>
>The utilities and the large customers wanted to clarify that we would not
>include direct access customers in the utility programs, because of the odd
>funding source (reductions from the amounts paid to DWR). We agreed with
>the concept, we don't want to fund demand reduction programs for Direct
>Access customers through DWR payments, but we also feel strongly that there
>should be similar non-discriminatory demand reduction programs for all
types
>of customers, including DA. So we came up with the idea of inserting
>language in the bill to require the ISO to institute demand bidding
programs
>which match the ones mandated in the bill for the IOUs. I gave our
>suggestion to Robin Larson, and I don't imagine you've seen it yet, but
>would you give me your reaction to the basic concept? I looked at the ISO
>website and tried to evaluate the demand bidding programs already in
>place--with a limited amount of understanding, but Enron's business folks
>indicated that they did not consider the existing programs to be the
>equivalent of what the utilities will be implementing. If that is so, how
>about putting similar programs in place so we can actively market and
>encourage all customers to bid their negawatts (especially the economic,
bid
>and contract in advance deals) so that the ISO can count on the demand
>reductions in advance of a day's operations?
>
>I await your response.
>
>I am so sorry you are not the next ORA director, I was certain you would be
>appointed to that, too. (gallows humor)
>
>Mike Day |
CONSENSUS Market Advisory Newsletter
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3. Partial Outline of leading articles in current issue of CONSENSUS.
=============================================================
FEATURED SELECTION:
THE JANUARY EFFECT DID IT START THIS SPRING? by Kansas City Board of Trade,
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(December, 2000) When we embarked into the year 2000, industry analysts
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AND FINANCIAL WEEKLY:
WILL THE ELECTION EVER END? by AIC Investment Advisors, Inc.
(December 4, 2000) For millions of Americans familiar with hotly contested
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---------------------- Forwarded by Chris Dorland/HOU/ECT on 11/15/2000 04:26
PM ---------------------------
Michael McDermott <[email protected]> on 11/15/2000
05:05:34 AM
To: "'Alexis Dodin'" <[email protected]>, "'Angus Cowan'"
<[email protected]>, "'B.K. Milne'" <[email protected]>, "'Bradley'"
<[email protected]>, "'Bryan Moody'" <[email protected]>, "'Carlo &
Sophia'" <[email protected]>, "'Catriona Work'"
<[email protected]>, "'Chris Blaker'" <[email protected]>,
"'Chris del Valle'" <[email protected]>, "'Chris Dorland'"
<[email protected]>, "'David Redmond'" <[email protected]>,
"'Francesco Cicoli-Abad'" <[email protected]>, "'George Potter'"
<[email protected]>, "'Haakon Olafsson'"
<[email protected]>, "'Jason Blaker'" <[email protected]>,
"'Jasvinder Pal Singh Badyal'" <[email protected]>, "'Kent Brown'"
<[email protected]>, "'Kevin McElroy'" <[email protected]>, "'Lionel
Greene'" <[email protected]>, "'Nils'"
<[email protected]>, "'Rob Laird'" <[email protected]>, "'Stefan van
Riet'" <[email protected]>, "'Urvesh'" <[email protected]>
cc:
Subject: The result of the US election - This is very funny
> >
> >Not everyone can wait for the recount..
> >
> >
> >---------------------------------------------
> >NOTICE OF REVOCATION OF INDEPENDENCE
> >
> >To the citizens of the United States of America,
> >
> >In the light of your failure to elect a President of the USA and
> thus to
> >govern yourselves, we hereby give notice of the revocation of your
> >independence, effective today.
> >
> >Her Sovereign Majesty Queen Elizabeth II will resume monarchial
> duties
> over
> >all states, commonwealths and other territories. Except Utah, which
> she
> >does not fancy. Your new prime minister (The rt. hon. Tony Blair,
> MP for
> >the 97.85% of you who have until now been unaware that there is a
> world
> >outside your borders) will appoint a minister for America without
> the need
> >for further elections. Congress and the Senate will be disbanded.
> A
> >questionnaire will be circulated next year to determine whether any
> of you
> >noticed.
> >
> >To aid in the transition to a British Crown Dependency, the
> following
> rules
> >are introduced with immediate effect:
> >
> >1. You should look up "revocation" in the Oxford English Dictionary.
> Then
> >look up "aluminium". Check the pronunciation guide. You will be
> amazed
> at
> >just how wrongly you have been pronouncing it. Generally, you
> should
> raise
> >your vocabulary to acceptable levels. Look up "vocabulary". Using
> the
> >same
> >twenty seven words interspersed with filler noises such as "like"
> and "you
> >know" is an unacceptable and inefficient form of communication.
> Look up
> >"interspersed".
> >
> >2. There is no such thing as "US English". We will let Microsoft
> know on
> >your behalf.
> >
> >3. You should learn to distinguish the English and Australian
> accents. It
> >really isn't that hard.
> >
> >4. Hollywood will be required occasionally to cast English actors as
> the
> >good guys.
> >
> >5. You should relearn your original national anthem, "God Save The
> Queen",
> >but only after fully carrying out task 1. We would not want you to
> get
> >confused and give up half way through.
> >
> >6. You should stop playing American "football". There is only one
> kind of
> >football. What you refer to as American "football" is not a very
> good
> >game.
> >The 2.15% of you who are aware that there is a world outside your
> borders
> >may have noticed that no one else plays "American" football. You
> will no
> >longer be allowed to play it, and should instead play proper
> football.
> >Initially, it would be best if you played with the girls. It is a
> >difficult
> >game. Those of you brave enough will, in time, be allowed to play
> rugby
> >(which is similar to American "football", but does not involve
> stopping
> for
> >a rest every twenty seconds or wearing full kevlar body armour like
> >nancies). We are hoping to get together at least a US rugby sevens
> side
> by
> >2005.
> >
> >7. You should declare war on Quebec and France, using nuclear
> weapons if
> >they give you any merde. The 98.85% of you who were not aware that
> there
> >is
> >a world outside your borders should count yourselves lucky. The
> Russians
> >have never been the bad guys. "Merde" is French for "shit".
> >
> >8. July 4th is no longer a public holiday. November 8th will be a
> new
> >national holiday, but only in England. It will be called
> "Indecisive
> Day".
> >
> >9. All American cars are hereby banned. They are crap and it is for
> your
> >own good. When we show you German cars, you will understand what we
> mean.
> >
> >10. Please tell us who killed JFK. It's been driving us crazy.
> >
> >Thank you for your cooperation.
> >
> >
> >
> >
> >Hugh Richards
> >Senior Training Consultant - EMEA London
> >Office: +44(0)207 786 3013
> >Fax: +44(0)207 786 3001
> >Mobile: +44(0)7720350706
> >
> >
> >S2 Systems International, Ltd.
> >30 City Road
> >London, EC1Y 2AY
> >United Kingdom
> >
> >
> >CONFIDENTIALITY NOTICE
> >The information contained in this transmission is confidential. It
> may
> also
> >be legally privileged. It is intended only for the addressee(s)
> stated
> >above. If you are not an addressee you should not disclose, copy,
> circulate
> >or in any other way use the information contained in this
> transmission.
> >Such unauthorized use may be unlawful. If you have received this
> >transmission in error, please telephone us immediately so that we
> can
> >arrange for its return.
> >
> >
> >
> >
>
>
> ______________________________________________________________________
> ___
> Get Your Private, Free E-mail from MSN Hotmail at
> http://www.hotmail.com.
>
> Share information about yourself, create your own public profile at
> http://profiles.msn.com. |
Charles --
I fully agree that we must integrate the NERC plans and systems (or
improvements to the NERC model) into our RTO model. I hope that is something
you can coordinate with the project as this develops.
Thx,
Jim
To: James D Steffes/HOU/EES@EES
cc: Jeff Brown/HOU/EES@EES, Janine Migden/DUB/EES@EES, Joe
Hartsoe/Corp/Enron, Ron McNamara/HOU/EES@EES, Steve Montovano/DUB/EES@EES,
Dan Staines/HOU/ECT@ECT@EES, Robin Kittel/HOU/EES@EES, Sarah
Novosel/Corp/Enron, Kerry Stroup/DUB/EES@EES, Christi L
Nicolay/HOU/ECT@ECT@EES, Steve Walton/HOU/ECT@ECT@EES, Tom
Delaney/Corp/Enron, Howard Fromer/HOU/EES@EES, Daniel Allegretti/HOU/EES@EES,
Richard Shapiro/HOU/EES@EES, Steven J Kean/HOU/EES@EES
Subject: Re: Transmission / Wholesale Market Regional Plans
Jim a BIG external factor that is directed to the item (2) ISO Systems &
Procedures:
At the NERC Electronic Scheduling Task Force meeting today, there was
considerable discussion on how this Task Force (which was formed before the
OASIS ANOPR was posted) would coordinate on an industry-wide basis, a NERC
response to the OASIS Phase II ANOPR.
Here are some important points a FERC Staff member (Marv Rosenberg) made at
the meeting. These should be kept in mind in developing the Enron proposal
and the process of getting buy-in in each of the Regions/RTOs.
- FERC prefers a single industry consensus filing.
- The ANOPR is intended to tie RTO Order 2000 together with new OASIS II
requirements
- Does not preclude individual RTOs or entities from submitting proposals.
However a diversity of filings will indicate non-consensus and FERC will
make its own decisions which will likely not be industry friendly.
FERC is asking the industry for communication and Business Practices
standards for issuing in a NOPR.
FERC is looking for:
- more functionality and to be more user-friendly
- electronic scheduling
- electronic reservations
- reduce duplication of information entry for customers
- not intended to dictate the Control Area to Control Area communications
I asked Marv to clarify this - He explained that although not required, FERC
welcomes propsals to address the control area source/sink issues as part of
an OASIS II solution (ie Entergy Source/Sink Order)
OASIS II should:
- continue use of Web browsers
- use templates for file transfers (uploads and downloads)
- all displays do not have to look the same - but encourages a common look
and feel
- within a RTO, business practicese may differ, but between RTOs the
practices must be standardized
We need to keep close to the NERC efforts since FERC has historically tended
to favor NERC proposals because they tout an air of industry consensus.
The clarificaton to the ANOPR given by Marv should make buy-in an important
element of our proposal.
If FERC adopts the NERC filing, we will likely be stuck with the exisiting
contract path seams problems and LMP fragmentation in the East because NERC
is not proposing any tariff changes. Also we will not get the control area
source/sink issue resolved since it will be impossible to resolve at NERC in
7 months.
Of course, another option would be to incorporate our efforts with this Task
Force.
James D Steffes@EES
08/02/2000 05:52 PM
To: Jeff Brown/HOU/EES@EES, Janine Migden/DUB/EES@EES, Charles
Yeung/HOU/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, Ron McNamara/HOU/EES@EES,
Steve Montovano/DUB/EES@EES, Dan Staines/HOU/ECT@ECT, Robin
Kittel/HOU/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Kerry Stroup/DUB/EES@EES,
Christi L Nicolay/HOU/ECT@ECT, Steve Walton/HOU/ECT@ECT, Tom
Delaney/Corp/Enron@ENRON, Howard Fromer/HOU/EES@EES, Daniel
Allegretti/HOU/EES@EES
cc: Richard Shapiro/HOU/EES@EES, Steven J Kean/HOU/EES@EES
Subject: Transmission / Wholesale Market Regional Plans
1. I appreciate everyone who participated in the call today. I think that
the discussion proved that we can find consensus on a reasonable approach for
transmission pricing and energy markets.
2. To make more clear about the Regional Plans, I think that we need to
consider the following.
A. BACKGROUND
Timelines of Current Process
Current Players & Current Positions
Allies
Key Issues now facing the process
B. MOVING FORWARD
Top Issues upcoming
External Factors (e.g., will Entergy join SPP)
Resource Needs
Relationship to Commercial Objectives / Business Plans
C. OTHER ISSUES / CONCLUSION
I hope this helps set an outline for the Regional Plans. The key idea is
that I want to make sure everyone has a calendar of where we are going and
what issues need to be addressed. Don't be shy about adding other topics and
issues. We need to have this to communicate within our group and to the
commercial people. I don't expect this to be easy, but I think that it will
be helpful.
3. I think that we need to put more detail around the entire structure. This
would entail developing four things (1) a tariff, (2) ISO Systems &
Procedures, (3) Day Ahead PX Energy Market, (4) Transmission Flowgate PX
Market. These are the four building blocks to a New Marketplace.
My hope is for Enron to put these things out in a detailed framework using
"off the shelf" material. I know that Tom Delaney has already started
working on a tariff. I think we could adapt the Cal PX model into point 3.
We could probably use the APX Flowgate System for point 4. On the ISO, maybe
we could go to ESCA and have a Detailed Scope / Work Plan and fees on setting
up an ISO (including costs of operation over time). It would make sense to
me to do this very formally (including setting energy market zones and
defining the commercially significant Flowgates). I would use the MISO as
the market to focus on, but am willing to listen to other thoughts.
Please let me know what everyone thinks.
Jim |
Check out the part about Simms weight.
Big 12: Applewhite eager to reclaim his job
By Mark Wangrin
Express-News Staff Writer
AUSTIN * It runs up and down the inside of Major Applewhite's left knee, a
four-inch shiny pink speed bump of a scar.
If it could talk, it would tell of how the anterior cruciate ligament buckled
as its owner planted while trying to avoid a relentless Arkansas pass rush at
the Cotton Bowl on Jan. 1.
It would tell of the reconstructive surgery by team orthopedist Dr. Carey
Windler, how the joint was whipped back into shape with hours of work and
carefully tended with ice bags and heat and extra stretching and anything
else Applewhite had read, heard or seen that would help keep his return on
pace.
If the joint could talk, it would tell people how everything's fine inside,
how Applewhite could drop back and plant, set up or scramble, in a real live
game today if one was scheduled.
If it could talk ... well, Applewhite might well be the happiest guy on the
planet.
Being a quarterback, team guy and newly inaugurated Student Government
representative, Applewhite tries to be diplomatic, but part of him wishes he
wouldn't have to answer a steady barrage of questions about his knee, no
matter how well-meaning the fans might be.
"I don't want to be rude," he said last week. "I just wish they'd stop
asking. I love them, appreciate them, but it's getting a little ..."
Got the picture.
OK. So here's the word: Applewhite is 100 percent * even ahead of schedule.
Ready to take on the challenge to his starting job from sophomore quarterback
Chris Simms, who with only one career start has graced the cover of The
Sporting News football preview and had an ESPN Magazine cover shoot last week
This word on Applewhite's fitness comes not just from the junior player, but
from the man who's worked most closely with him, physical therapist Allen
Hardin.
Applewhite, Hardin stresses unequivocally, is ready to play now.
Hardin said Applewhite has tested 5 to 10 percent above the expected range
when he's had periodic strength and flexibility tests on the injured leg.
During rehab, Hardin ditched the pool work, concentrating instead on
sport-specific movements, shortly after Applewhite observed that very few
football games are played under water.
One of the most effective of the workouts involved pulling on Applewhite with
rubber tubing as the quarterback moved, cut and set up, strengthening his
supporting muscles and improving his balance.
"If I came in and told him to do what he did yesterday, he wasn't happy,
because he wanted to be challenged," Hardin said. "It was a challenge to come
up with things to challenge him."
"The only difference I can tell about the knee is it takes longer to warm
up," Applewhite said. "I'll jog for four minutes instead of two, stretch for
six minutes instead of five."
After workouts, Applewhite dutifully ices his knee, though he does so based
more on conventional wisdom than necessity.
"I've always heard you can get tendinitis, so I ice it," he said. "I don't
have any of the symptoms, so it feels like I'm icing it for no reason."
In some ways, Applewhite feels he's better for the injury, not the least of
which being a renewed appreciation for the game.
"So what if I'm tired?" he said. "I can rest when I die."
Resting now isn't a bad thing, either. Applewhite said missing spring drills
was a boon for his arm.
"I was throwing so much during the spring (of 1999), summer and season that
it felt like my arm was run ragged," he said.
Of course, the knee questions will be answered the first time Applewhite
takes a hit in the fall. The other question, the one that he can't shake,
will take a little longer.
Who's the starter going to be * Applewhite or Simms?
"I'd be quick to drop in comments about Chris," Hardin said of his
occasional, and apparently unnecessary, mention of Simms as a motivational
ploy. "But I think internally, he'd have worked that hard whatever."
"It's remarkable the way he's come back," said sophomore cornerback Roderick
Babers, noting that Applewhite has been occasionally overthrowing even the
speediest receivers in workouts. "In two-a-days, it'll be a fair fight."
Asked to size up how Applewhite and Simms have looked in informal workouts,
Babers said, "I think (Simms) has the advantage. Major's been sitting out and
Simms' confidence is up, big-time. That's what you need in a quarterback. But
at the same time, Major's a veteran. He's beaten Nebraska. He's beaten them
all."
"He's the same old Major," cornerback Quentin Jammer said.
Soon Applewhite will probably be as tired of talking about the quarterback
duel as he is about answering questions about the state of his knee. Now, a
month before the freshmen report on Aug. 13, he's talking about how he's not
competing against Simms, just against himself.
"The competitive nature that Tiger Woods has is the competitive nature I
have," Applewhite said. "At Pebble Beach, Tiger was up 15 and had a 10-footer
on the last hole for birdie, and he was out there lining it up. He could have
done the 'Happy Gilmore' tap to the hole and still won. But he wanted it all."
Simms has bulked up from 208 to 223 pounds, working on his leg and upper body
strength.
"I feel like there's more to me now, that it's not like the wind's going to
blow me over," he said. "I don't want to be a wimpy quarterback. I want to be
like Brett Favre. He's not the biggest or the fastest, but he can run when he
has to and he can chuck it 80 (yards).
"It's going to come, and it'll get worse," Simms said of the building
scrutiny. "To tell you the truth, I don't care. Football's a competitive
sport. There's nothing you can do about it."
So he shrugs it off for now, concentrating on finishing up summer school.
He's working on his topic for a writing course, "History of American
Baseball." The book he chose is about Babe Ruth.
In August, the topic switches to college football. The question remains the
same. And Chris Simms, or Major Applewhite, won't write this story.
They'll live it.
------------------------------------------------------------------------------
-- |
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)> |
To Jae- Moo,
1. Impressive P'point presentation indeed.
2. Friday Sep 1 - 800am TYO time is good for Australia, I will be attending
is there anything that i need to arrange at our end ??
3. After the successful roll-out of W for Japan & Oz thus qtr,
as discussed - we are ready to roll-out Korean W say in Mid October ???
Your email & presenatation thus arrived at a very good time.
4. Just some questions -
You may answer in the conference call or by email -- your choice
(a) why has W derivatives been singled out by FSC for potential review
when there is no regulation of eg LPG , or plastics swaps & fwds ? (pg 11
of presentation)
(b) How necessary are the meetings with ( pg 5 of presentation)
".. Bank of Korea (BOK)/ Ministry of Finance & Economy (MOFE) for
classification of weather derivatives as commodity derivatives.." ?
Is this meeting to meet
"...except for Foreign Exchange Transaction Regulations (FETR) in case of
foreign currency trades
? Classification of weather derivatives as commodity or financial derivatives
under FETR needs to be resolved..."(pg 15 of presentation)
Can we just do it first with Enron Korea as the counterparty ? If so , if
Korean coy transacts with Enron Korea,
there should be no problem in remitting funds wholly within Korea !
Also we intend to offer product in Won only so no FX involved at all .
(c)
pg 18 of presentation
'...All other EnronOnline products with the exception of bandwidth and
emission allowances are classified as commodity derivatives in Korea..."
Why is it bandwidth and emission are classified differently?
Will not Weather fall under same category ?
"...Commodity derivatives require a prior reporting to the Bank of Korea for
each trade .."
Is this only relevant if product is not in Won but foreign currency ?
5. pg 28 of presentation
Note that Dr Christian Werner - Sydney office will be the person for
"Data system For weather derivative products, arrange with a weather
forecasting company for the weather data feed - timing depends on the
location"
We will be able to assist with (if reqd, see points 4b & c above)
"... For weather derivatives, arrange presentation meetings with BOK/MOFE
for classification of weather derivatives as commodity derivatives
_ May require longer time for their decision making
Korea Office, Mike Dahlke, EOL Weather specialist (?)"
Best wishes
Raymond
Matthias Lee@ECT
08/24/2000 09:22 PM
To: Jae-Moo Lee/Corp/Enron@ENRON
cc: Christopher B Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Joseph P
Hirl/AP/ENRON@ENRON, David Forster/Corp/Enron@Enron, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Mike
Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Alan
Aronowitz/HOU/ECT@ECT, Mike Brown/ENRON@Gateway@ENRON, Justin
Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Paul
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Raymond
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, John
Viverito/Corp/Enron@Enron, Rousseau Anai/AP/Enron@Enron, John
Chismar/SIN/ECT@ECT, Victor Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON,
Li Yin Lim/SIN/ECT@ECT, Mark Taylor/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Jonathan
Whitehead/AP/Enron@Enron, Michelle Lee/Corp/Enron@Enron, Ann
Brown/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT@ENRON, Matthias Lee/SIN/ECT@ECT,
Angeline Poon/SIN/ECT@ECT
Subject: Re: EOL Korea
Jae-Moo
On the section of Regulatory/Legal Environment, it may be useful to note:
1. There is no official rule or regulation that ex post facto reporting for
Commodity Derivatives are acceptable to the Bank of Korea, although your and
Korean external lawyer's (Kim & Chang) informal verbal enquiries with the
Bank of Korea have suggested they have accepted some 7 or 8 reports since
April last year (all from Hyundai Oil).
2. The Bank of Korea take up to two weeks to review the reports and, as Kim &
Chang has advised, there remains a possibility that the Bank of Korea may
reject the report, although they were not able to advise the grounds on which
a report may be rejected.
3. Although, a foreign counterparty need not file a report or seek approval,
the Korean counterparty must still do so for the benefit and interest of the
foreign counterparty. Kim & Chang advised that where reporting or approval is
required but is not made or obtained, the Korean counterparty would not be
able to remit its payments under the transaction. This would clearly impact
on the settlement of the transaction, in particular shorter term deals since
reporting and approval may take several weeks.
4. The Supreme Court of Korea has ruled that a foreign exchange authorization
that was originally required should be obtained in order for a foreign party
to execute any judgment against the Korean party and remit the proceeds.
Regards
Matt
Jae-Moo Lee@ENRON
08/24/2000 04:58 PM
To: Christopher B Hunt/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Joseph P
Hirl/AP/ENRON@ENRON, David Forster/Corp/Enron@Enron, John
Ambler/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Mike
Dahlke/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Bruce
Lundstrom/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Aronowitz/HOU/ECT@ECT,
Mike Brown/ENRON@Gateway, Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Paul Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Raymond
Yeow/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John Viverito/Corp/Enron@Enron,
Rousseau Anai/AP/Enron@Enron, John Chismar/SIN/ECT@ECT, Victor
Santos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Li Yin Lim/SIN/ECT@ECT, Mark
Taylor/HOU/ECT@ECT, Matthias Lee/SIN/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jonathan Whitehead/AP/Enron@Enron
cc: Michelle Lee/Corp/Enron@Enron, Ann
Brown/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: EOL Korea
As many of you are aware, over the past few months we have been investigating
whether or not it would make sense to seriously consider an EOL launch in
Korea from a market, regulatory and legal perspective. The primary interest
has been on reviewing whether or not we could launch existing products in
Korea (e.g., products already handled by Singapore EOL) as well as new
products (e.g., Seoul weather).
This initial work was directed primarily by the Korea team working within the
APACHI group. If a launch is to progress much further from this point,
however, substantial attention by the EOL team would be required. To
facilitate this, the attached presentation summarizes our primary findings to
date and some of our thoughts. We would appreciate your taking a look at the
attached document.
We would like to arrange a conference call for next Thursday (Aug. 31st) at
6:00 pm by Houston time (Friday at 8:00 am by Tokyo time) to discuss the
attached document and to solicit thoughts as to next steps. Please let me
know whether you will be able to join this call or, if you have a conflict,
an alternative time. Your participation will be greatly appreciated.
Best regards,
Jae-Moo |
Start Date: 10/20/01; HourAhead hour: 20; HourAhead schedule download failed. Manual intervention required.
LOG MESSAGES:
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Restructuring Today readers got this story today...
Retail market
can be opened
nationally?
---
Joe Barton thinks
it can and is
about to try
---
Once in 20 years
opportunity seen
How can the retail power market be opened in today's atmosphere?
Joe Barton has a way and it sounds like it just might work.
He briefed APPA members winding up the last day of the annual
meeting in Washington. Barton implored the membership that if they
have any ideas on how to improve energy policy, this is the time to tell
policy makers or him.
Barton sees a narrow, six-week opportunity as America is about to
revise its energy policy.
We walked with him to his car after the speech and asked what he
means by a major energy restructuring bill.
He referred vaguely to legislation that would improve the grid and
foster the functioning of a robust market providing for movement of
power from one place to another.
He wants a national market with a grid that can handle it "in an
open access way -- creating all these trading markets where you have
long-term and short-term markets where you balance supply and demand
around the country.
"States that have surplus power, through the RTO system can wheel
that power to states that need it."
That's the wholesale market, we asked.
Yes.
But what about retail?
He hopes to get into the law a provision to foster aggregation of
buyers.
How would that work?
"AARP," Barton said noticing our age, "could sell you power or Wal-
Mart or McDonalds or the co-ops. You could buy your power through
them."
How would a law provide for aggregation?
"It would be in the federal legislation that it would be
permitted," he replied.
But what about Nebraska where there are only munis?
"You've got to work through that and see if you get some kind of
grandfather or state opt-out provision. It's possible that you give
states the right to opt out. But over time those states will want to
opt in," he added.
"That'll be a debate we'll have when we get into the bill. You're
not supposed to ask that tough a question this early in the process," he
reminded with a smile.
Barton is really impressed with the magnitude of the legislation
gestating in the nation's capital.
"Everything" is up for discussion, he said, "everything.
"There is nothing -- nothing -- that's been debated or talked about
in terms of electricity that is not on the table," Barton assured.
"I'm not saying we're going to do it all but you have a window like
this once every 20 to 30 years. I'm going to be damned if I'm going to
stand around and on my on volition take things off the table.
"Now the process will automatically take a lot more controversial
items out of play. There'll be a region or a political block -- who
knows the president might not like something. John Dingell might not
like something. Who knows? But I'm not -- even before we put pen to
paper to start drafting the bill -- say `we're not going to consider
this'," Barton added.
Is he getting signals from Dingell that he might be cooperative?
"Yeah. Very cooperative. Of course, again, the proof is in the
pudding and in the details."
Barton's in the leadership role in fostering a national energy
policy, taking the package from the vice president and guiding it
through the House.
He's the president's energy guy from an energy state and Bush has
shown -- with the tax bill -- that he can get a program enacted.
Barton wants something he can look back at in five, 10 and 20 years
and say "that's a good bill. It works."
Barton wants to make history with the Energy Policy Act of 2001.
Barton told APPA he wants this big bill to be "national, long-term
in its impact and balanced."
Balanced means looking at the generation component, transmission
and distribution "and in each of those areas -- this is just me. I'm
not speaking for anyone but myself" -- he wants "to create an
environment so we have a maximum, competitive situation that's open and
fair to everybody.
"And we're going to do that and you're going to have a lot of
competition, a lot of flexibility with a lot of choice for consumers and
a lot of choice for yourself," Barton added.
Wait a minute.
He's saying competition in transmission and distribution.
We really do need to ask him what he has in mind there when the
time is right.
We can't help but think of competition in selling pipeline capacity
in a secondary market.
You can do that with electricity capacity to or on a local
distribution system in gas. We're thinking aloud here. That's not what
Barton said.
He wants to minimize the federal role except where you actually
have to.
That puts Barton "a little at variance with some in the Bush
Administration and some in the Congress because in the modern age
there's a natural proclivity to centralize and consolidate which in the
political arena means let Washington do it."
Barton wants to maximize the technology component and will put into
the bill a distributed generation component.
He's interested in negawatts, fostering cut backs in demand on a
national scale.
"Looking out for your own interest," Barton considers to be
"democracy."
But from time to time you have to step back and look at the
national interest, he advocated.
"That's my job."
Today's crisis mentality helps Congress act boldly.
The friendliness to competitive markets in the White House
encouraged by the president's pride about the retail bill he got through
the Texas Legislature plus today's environment may be ideal for market-
minded leaders.
You can benefit from Restructuring Today's special, unique focus on the
converging energy and communications industries, especially the opening
of competitive markets, too.
To subscribe simply fax the attached order form to 202-298-8210.
Don't miss another vital issue. Subscribe today!
Thank you,
Season Hawksley
US Publishing
800-486-8201
202-298-8201
PS -- Please do not hit 'reply'. To subscribe, cancel, change your email
address or ask questions please contact [email protected].
- orderform.pdf |
Mary Hain has resigned her position with Enron. Please remove her from all
your mail lists.
Thank you.
Lysa Akin
Gov't Affairs - Sr. Admin. Ass't.
Enron Capital & Trade Resources Corp.
From: NELSON Jeff <[email protected]> 03/21/2001
04:20 PM
To: "'Westenberg, Sarah A - LP-7'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
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"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
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"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
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"'[email protected]'" <[email protected]>, "'[email protected]'"
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<[email protected]>, "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>,
"'Lovell, Byrne - KP-7'" <[email protected]>
Subject: RE: WP-02 Data Responses SL-SP:001 through SL-SP:006
Attached are SUB's Data Responses to Bonneville Power
Administration's Data Request. These files are sent electronically via
e-mail due to potential problems with the Discovery site.
> <<Data Response BPA_SP_009.doc>> <<Data_Response_BPA_SP_009.xls>>
> <<IOU04.xls>>
>
Jeff Nelson
Resource Projects Manager
Springfield Utility Board
Phone: (541) 744 - 3779
Fax: (541) 744 - 2263
e-mail: [email protected]
- Data Response BPA_SP_009.doc
- Data_Response_BPA_SP_009.xls
- IOU04.xls |
Certainly understand the tradition you have with OU/Texas and it would be
hard. I imagine David is starting to feel a little cocky, given we should be
undefeated going into Texas, but he may still need to seek the shelter of
the study, as I know Texas is not going to roll over and play dead.
Sounds like Meagan has a full agenda this Fall and a trip to Norman would
only get in the way. I'm sure David will not let the fire die, if she is
truly interested in OU. FYI, OU's Spring Break is March 17-25 next year. So
you can plan accordingly. Let me know if you decide when you decide to come
up and I can get you lined up with Prospective Student Services for a tour.
Also, I remember you telling me about your concerns about grades. I know
that OU requires a 24 on the ACT, or finish in the top 1/3 of your
graduating class. It is my understanding that will soon be increasing to 26
or top 30% of graduating class. Looks like OU is following UT on tightening
entrance requirements.
I can get you shirts caps, sweatshirts, etc. for OU, UT and Tech. You can go
to Bigtimesports.com and look at the styles. I think they are also in the
school colors. If you see a style you like, let me know the size shape and
school and I can order it. If some of it is for you, let me know, as they
have different styles for women. Also, I can have logo's etc. reduced (like
I did on your Bevo on your shirt) so they are not so big. I always have them
reduce the OU from 1 3/4" to a
1 1/4" size, so I don't look like a "poster boy" for OU. Anyway, let me know
and I will order them for you.
Let me know when you hear back from Lexi about your discussion relative to
summer internship recruiting.
Ted K. Jacobs
Director of Energy Management
The University of Oklahoma
307 West Brooks, Room 218
Norman, OK 73019-4007
(405)325-0758
Fax (405)325-2096
E-mail: [email protected]
Website: www.ou.edu/business/em
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, September 25, 2000 1:23 PM
To: Jacobs, Ted K
Subject: RE: Oklahoma Trip
Thanks for looking into the OU/Texas tickets for us. With the ages of the
kids, I think that we will pass on those single tickets. The kids love our
home tradition for the game, and weren't sure that they wanted to give that
up. (I have cake pans in the shape of the state of Texas and the state of
Oklahoma - one daugther decorates one, and the other decorates the second
cake - add some bean dip and chips and it's our own version of a tailgate
party!)
We were hoping to bring Meagan up to look at OU this fall, with our eye on
that last game of the season. However, Klein High School has started the
football season very strongly, winning all games to date. That means that
we may be headed for high school playoffs again this year. Meagan is on
the drill team and must be at all games. Last year, we played right up to
Thanksgiving in the playoffs. So, we have decided to pick a weekend in the
spring after drill team contest season is over to make that trip with
Meagan.
We are interested in caps, shirts, etc. for UT, OU and Texas Tech. Do you
have a list of what is available for those schools?
"Jacobs, Ted K" <[email protected]> on 09/23/2000 03:07:11 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Oklahoma Trip
Thanks for the nice words. I hope Enron will be able to look at some
students for summer internships, as I am sure they will be gone by Spring.
As far as Texas tickets go, I can come up with 5 singles, but not 5
together
or even 3 and 2. Let me know if interested and I will try to get them.
Might
be able to trade up or something.
Let me know what other schools you are talking about and I can find out for
you.
Again, thank you for taking time out your schedule to come up and be a part
of the OU recruiting effort. It has been your support and efforts that we
have to thank for Enron coming to OU. Keep me posted on what you work out
with HR with regards to summer interns.
"Hook Em"
Ted K. Jacobs
Director of Energy Management
The University of Oklahoma
307 West Brooks, Room 218
Norman, OK 73019-4007
(405)325-0758
Fax (405)325-2096
E-mail: [email protected]
Website: www.ou.edu/business/em
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, September 22, 2000 5:30 PM
To: Jacobs, Ted K
Subject: Oklahoma Trip
It was good to see you in Norman earlier this week. As always, I
appreciated your attendance at the presentation and at Coach's afterwards.
I am sure that it is rewarding for you to see former students such as Jody
and Nate participating on the other side of the recruiting table. You have
done a great job in changing and promoting the program.
I am pushing Lexi to resolve the question around interview dates for summer
interns ASAP. I have also left Mike McConnell a message to make him aware
of the issue. I should be able to get back with you next week, hopefully
with a change in our strategy!
If you do become aware of five OU /Texas tickets, please let me know. We
will certainly purchase them, I just made the assumption that all tickets
may already be sold.
On another note, David has worn his OU shirt to work and has gotten lots of
compliments. He has a number of people that have asked him about school
shirts, caps, etc. Do you have a list of the schools that you can get
merchandise for and the types of merchandise that you can get? Let me know
-- we can probably place a few orders through you! |
As requested.
---------------------- Forwarded by John J Lavorato/Corp/Enron on 10/30/2000
12:23 PM ---------------------------
From: Tim Belden @ ECT 10/27/2000 05:40 PM
To: John J Lavorato/Corp/Enron, Dave Delainey, Mike Swerzbin/HOU/ECT@ECT,
Robert Badeer/HOU/ECT@ECT, Sean Crandall/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT,
Jeff Richter/HOU/ECT@ECT, Diana Scholtes/HOU/ECT@ECT, Tom Alonso/PDX/ECT@ECT,
Mark Fischer/PDX/ECT@ECT, John M Forney/HOU/ECT@ECT, Paul Choi/SF/ECT@ECT,
John Malowney/HOU/ECT@ECT, Holli Krebs/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT,
Chris H Foster/HOU/ECT@ECT, Stewart Rosman/HOU/ECT@ECT, Kim Ward/HOU/ECT@ECT,
Debra Davidson/PDX/ECT@ECT, Tim Belden/HOU/ECT@ECT, Lester
Rawson/PDX/ECT@ECT, John Zufferli/CAL/ECT@ECT, James D
Steffes/NA/Enron@Enron, Mary Hain/HOU/ECT@ECT, Christopher F
Calger/PDX/ECT@ECT, Dave Parquet, Phillip K Allen/HOU/ECT@ECT, Vladimir
Gorny/HOU/ECT@ECT, Monica Lande/PDX/ECT@ECT, Elliot Mainzer/PDX/ECT@ECT, Tim
Heizenrader/PDX/ECT@ECT, Cooper Richey, Stephen Swain/PDX/ECT@ECT, Susan J
Mara/SFO/EES@EES, Steven J Kean/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON
cc: Debra Davidson/PDX/ECT@ECT
Subject: Price Caps
The following summarizes recent price cap events in California. I think that
I have most of it right. If there is anything wrong or missing please let me
know. Please don't share the attached spreadsheet with anyone outside of
Enron.
Regards,
Tim
New Cap Specifics
On 10/26/2000 the ISO Board passed a motion by a vote of 13-10 to implement a
new price cap methodology.
The new methodology will become effective 11/3/2000 or as soon thereafter as
can be implemented. CAISO staff has indicated that it will be difficult to
achieve that start date. They have not yet indicated what an achievable date
might be.
The new price cap methodology will remain in place until:
Comprehensive market changes have been implemented and the market has proven
to be workably competitive under a variety of load conditions.
Either FERC or the ISO board orders its removal.
Cap prices will be based on the average NYMEX L3D settlement average and the
following heat rate table:
Load Level Heat Rate 4.00 Gas Example Cap
<25 GW 10,775 $43.10
25 GW to 30 GW 14,175 $56.70
30GW to 35 GW 17,225 $68.90
35GW to 40 GW 27,225 $108.90
>40 GW $250/MWh $250/MWh
Caps will be rounded up to the nearest $5/MWh increment.
Demand bids and demand responsiveness programs are exempt from these caps.
The ISO will post the price caps for each load level at least 48 hours prior
to the beginning of each calendar month. Based on the ISO's two day-ahead
system load forecast, the ISO will post hourly caps at least 24 hours prior
to the hour of delivery.
FERC Context
FERC has delegated cap authority to the CAISO until 11/15/2000.
The ISO has asserted that they don't need FERC authority since it is a bid
cap rather than a sales cap. FERC regulates sales, not purchases, of
electricity and therefore can regulate sales prices but not purchase prices.
The ISO has filed with FERC for an extension of the price cap authority.
FERC has to rule on the filing by 11/18/2000. (Note that this is 3 days
after their authority expires)
FERC will release its proposed order on 11/1/2000 based on the results of its
206 investigation of the California wholesale power markets. We don't know
what they will find or what they will propose.
The proposed order will have a 30 day comment period, after which FERC will
likely issue a final order. FERC will be accepting oral comments on
11/9/2000 in Washington. Enron still has to determine who will provide oral
comments.
Many companies have filed at FERC advocating or opposing a litany of price
caps, cost based rates, and market redesign recommendations.
It is likely that the price caps approved by the ISO board will go into
effect. How long they will remain in effect will depend on whether FERC
extends the ISO price cap authority and whether the final order stemming from
the current 206 investigation stipulates a specific price cap policy.
Impact of Price Caps
The attached spreadsheet contains a table of likely maximum monthly prices at
different gas price levels. We think that this is the highest that markets
would clear since it assumes that each hour clears at the cap. It is hard to
say whether actual prices would clear significantly lower than the cap
because we don't know whether sellers will offer below the cap or at the
cap. The assumptions behind our analysis are detailed in the bullets below.
Take actual historical loads from 1999 and 2000.
Calculate implied price cap for each hour using actual historical load, new
price cap methodology, and a range of gas prices.
Divide historical hours into peak and off-peak buckets.
Calculate average price for each month for peak hours and off-peak hours.
For example, we have two years worth of data for the months of January
through September. Each month has approximately 400 hours. for January
through September, we took approximately 800 observations for each month (400
from each year) and calculated a simple average of all of the individual
observations.
We created a peak table and an off-peak table. The table shows the
calculated implied cap based off of the acutal loads at varying gas prices
for each month. This value represents what the month would clear at if each
hour cleared at the cap (based on historic loads). While any given hour
could be above this value, our calculation estimates the likely monthly
average cap value!
The blue shading indicates what the caps would be given current (10/27/2000
NYMEX) forward prices. The yellow shading indicates those forward power
prices which are in excess of the proposed cap. |
Charles Schwab & Co., Inc.
Midday Market View(TM) for Tuesday, July 31, 2001
as of 1:00PM EDT
Information provided by Standard & Poor's
================================================================
U.S. INDICES
(1:00 p.m. EDT)
----------------------------------
Market Value Change
DJIA 10,546.40 + 144.70
Nasdaq Comp. 2,050.20 + 32.36
S&P 500 1,219.36 + 14.84
----------------------------------
NYSE Advancing Issues 1,977
NYSE Declining Issues 1,032
NYSE Trading Volume 584 mln
NASDAQ Advancing Issues 1,992
NASDAQ Declining Issues 1,473
NASDAQ Trading Volume 854 mln
==================================
U.S. TREASURIES
----------------------------------
Value Yield Change
1-year bill 3.40% n/a
5-year note 4.50% + 6/32
10-year note 5.03% + 6/32
30-year bond 5.50% + 3/32
The tables above look best when viewed in a fixed-width font,
such as "Courier."
================================================================
U.S. TRADING SUMMARY
Equities didn't flinch at the weak U.S. economic data released
this morning as the major averages hovered around opening levels
and took the news in stride. The headline indexes quickly moved
higher and extended their gains ahead of the noon hour before
some consolidation set in. The broad-based rally saw the Dow
initially taking the lead, then handing the ball off to the
tech-heavy NASDAQ, which shot higher by about 1.8% at midday. On
the technical front, resistance for the NASDAQ lies at its
50-day moving average of 2,097. Outperforming industries in the
S&P 500 included the drug, financial, health care, semiconductor
and computer software/system industries. The oil, electric and
railroad sectors were under-performing.
----------------------------------------------------------------
U.S. TREASURY SUMMARY
Treasuries were higher by midday as a slew of weak data helped
bolster investor confidence that the slowing economy would spur
the Fed to again lower interest rates. Indeed, the whole yield
curve was in the green by midday with the short end
outperforming its longer-term counterparts, even though stocks
were enjoying a strong rally of their own. Data on both consumer
confidence and a regional measure of manufacturing activity
showed much larger-than-expected declines, which bode poorly for
the economy and suggested that activity in manufacturing may not
have hit bottom yet. The data suggested to some that the Fed may
have to be more aggressive than previously thought. Others,
however, felt that the data was weak, but would just add to the
Fed's resolve to continue on its expected path of cutting
interest rates by 25 basis points at its next meeting in August.
----------------------------------------------------------------
CURRENCY SUMMARY
Talk is circulating that the Brazilian Central Bank has been
behind the dollar's rally back to 125 yen from 124.6 yen. The
bank floated a 200 billion yen ($1.6 billion) bond issue today
and the speculation is that the bank has sold the yen proceeds
to buy dollars. Elsewhere, euro bulls have been frustrated by
the lack of follow-through buying on the weak U.S. data
offering. The euro briefly touched 0.878 dollars per euro, but
has since sunk below the 0.875 level.
----------------------------------------------------------------
MAJOR COMPANY / INDUSTRY NEWS
(All prices as of 1:05 p.m. EDT)
** DirecTV, a unit of General Motors' (GM: 63.98, + 1.08) Hughes
Corp. (GMH: 19.32, + 0.02) division, is preparing to sue about 1
million people who are pirating DirecTV's signal using
unauthorized access cards and equipment, according to The Wall
Street Journal. DirecTV wants damages from the illegal users and
has shifted its focus from the distributors of the equipment to
the many who use it. As many as 100,000 names and addresses were
collected from searches of alleged illegal equipment operators.
DirecTV has sent strongly worded mailings to the individuals
suspected of pirating the digital signals.
** Large utility firm Entergy (ETR: 37.54, + 0.25) reported
fiscal second-quarter earnings that beat Wall Street's recently
raised estimates. The company reported earning almost $239
million, or $1.06 per share, versus roughly $224 million, or
$0.98 per share, in the year-ago quarter. Analysts had the
company pegged to earn $0.95 on average. Strong profits from its
nuclear power and energy trading divisions helped boost
earnings.
** Online brokerage firm Ameritrade Holdings (AMTD: 6.41, +
0.50) agreed on Tuesday to acquire rival firm National Discount
Brokers Group, which is a subsidiary of Deutsche Bank AG. The
price tag was $154 million in an all-stock deal in which
Ameritrade will issue between 21 million and 32 million shares
to finance the deal. When the deal is finally complete, National
Discount Brokers will own between 10% and 14% of Ameritrade's
stock.
----------------------------------------------------------------
RESEARCH SPOTLIGHTS
** Goldman Sachs upgraded shares of Freeport McMoran Copper &
Gold Inc. (FCX: 10.73, + 0.23) from a market outperformer to
their U.S. recommended list.
** Salomon Smith Barney upgraded shares of Express Scripts
(ESRX: 58.00, + 0.96) from an outperform to a buy rating.
** A.G. Edwards upgraded shares of DST Systems (DST: 47.02, +
0.57) from an accumulate to a buy rating.
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Copyright 2001 Standard & Poor's MMS Inc. All rights reserved.
Standard & Poor's MMS services are for personal use only.
Commercial use or redistribution in any form, print or
electronic, is prohibited.
Distribution by Quris, Inc. |
Company: 002909 Arng: 39229-09137 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 0 62
Working 0 62
Capacity Allocation 0 62
Confirmed 0 24 CBL
Company: 002909 Arng: 39229-09253 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 0 4,739
Working 0 4,739
Capacity Allocation 0 4,739
Confirmed 0 4,735 CBL
Company: 002909 Arng: 39229-10166 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 5,256 0
Working 5,256 0
Capacity Allocation 5,256 0
Confirmed 0 CBL 0
Company: 002909 Arng: 39229-10167 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 4,054 0
Working 4,054 0
Capacity Allocation 4,054 0
Confirmed 0 CBL 0
Company: 002909 Arng: 39229-10168 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 5,000 0
Working 5,000 0
Capacity Allocation 5,000 0
Confirmed 0 CBL 0
Company: 002909 Arng: 39229-10169 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 2,500 0
Working 2,500 0
Capacity Allocation 2,500 0
Confirmed 0 CBL 0
Company: 002909 Arng: 39229-10171 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 10,000 0
Working 10,000 0
Capacity Allocation 10,000 0
Confirmed 1 CBL 0
Company: 002909 Arng: 39229-10172 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 32,060 0
Working 32,060 0
Capacity Allocation 32,060 0
Confirmed 29,945 CBL 0
Company: 002909 Arng: 39229-10173 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 11,138 0
Working 11,138 0
Capacity Allocation 11,138 0
Confirmed 10,404 CBL 0
Company: 002909 Arng: 39229-10174 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 1,476 0
Working 1,476 0
Capacity Allocation 1,476 0
Confirmed 1,379 CBL 0
Company: 002909 Arng: 39229-10175 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 1,636 0
Working 1,636 0
Capacity Allocation 1,636 0
Confirmed 1,528 CBL 0
Company: 002909 Arng: 39229-10190 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 12,000 0
Working 12,000 0
Capacity Allocation 12,000 0
Confirmed 11,209 CBL 0
Company: 002909 Arng: 39229-10230 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 0 274
Working 0 274
Capacity Allocation 0 274
Confirmed 0 0 CBL
Company: 002909 Arng: 39229-10261 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 0 1,100
Working 0 1,100
Capacity Allocation 0 1,100
Confirmed 0 0 CBL
Company: 002909 Arng: 39229-10281 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 7,530 0
Working 7,530 0
Capacity Allocation 7,530 0
Confirmed 7,034 CBL 0
Company: 002909 Arng: 39229-10282 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 10,000 0
Working 10,000 0
Capacity Allocation 10,000 0
Confirmed 9,341 CBL 0
Company: 002909 Arng: 39229-10291 Eff Date: 2001-06-04
----- Receipt ----- ----- Delivery -----
Quantity Cut CD Quantity Cut CD
Nominated 600 0
Working 600 0
Capacity Allocation 600 0
Confirmed 300 CBL 0 |
FYI
---------------------- Forwarded by Karen Marshall/HOU/ECT on 01/18/2001
03:07 PM ---------------------------
"Angela Dorsey" <[email protected]> on 01/18/2001 02:53:59 PM
To: <[email protected]>
cc:
Subject: RE: URGENT DEADLINE: RSVP by JAN 22nd: Invitation to 2001 Energy
FinanceConference Feb. 22-23, 2001- The University of Texas at Austin
Karen,
Thanks for the extra support in getting the word out. I've had a couple
RSVP's from Enron.
Sincerely,
Angela
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, January 17, 2001 7:59 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]
Cc: [email protected]; [email protected];
[email protected]; [email protected];
[email protected]; Angela Dorsey
Subject: URGENT DEADLINE: RSVP by JAN 22nd: Invitation to 2001 Energy
FinanceConference Feb. 22-23, 2001- The University of Texas at Austin
The $500 registration fee is waived for any Enron employee who wishes to
attend this conference because of our relationship with the school.
Please
forward this information to your managers and staff members who would
benefit from participating in this important conference. (Note: Vince
Kaminski is a panellist for the Risk Management Session 3.)
Please note: The deadline for RSVP & Hotel reservations is MONDAY,
JANUARY
22nd Don't miss this opportunity!
Should you have any questions, please feel free to contact me at EXT.
37632.
Karen
---------------------- Forwarded by Karen Marshall/HOU/ECT on 01/11/2001
07:38 PM ---------------------------
"Angela Dorsey" <[email protected]> on 01/10/2001 03:06:18 PM
To: "Angela Dorsey" <[email protected]>
cc: "Ehud Ronn" <[email protected]>, "Sheridan Titman (E-mail)"
<[email protected]>
Subject: Invitation to 2001 Energy Finance Conference - The University
of
Texas at Austin
Colleagues and Friends of the Center for Energy Finance Education and
Research (CEFER):
Happy New Year! Hope you all had a wonderful holiday season.
On behalf of the University of Texas Finance Department and CEFER, we
would
like to cordially invite you to attend our:
2001 Energy Finance Conference
Austin, Texas
February 22 - 23, 2001
Hosted by the University of Texas Finance Department
Center for Energy Finance Education and Research
Dr. Ehud I. Ronn and Dr. Sheridan Titman are currently in the process of
finalizing the details of the conference agenda. We have listed the
agenda
outline below to assist you in your travel planning. Each conference
session will be composed of a panel discussion between 3 - 4 guest
speakers
on the designated topic.
As supporters of the Center for Energy Finance Education and Research,
representatives of our trustee corporations (Enron, El Paso, Reliant,
Conoco, and Southern) will have the $500 conference fee waived.
The conference package includes Thursday evening's cocktails &
dinner and hotel/UT shuttle service, as well as Friday's conference
meals,
session materials and shuttle service. Travel to Austin and hotel
reservations are each participant's responsibility.
A limited number of hotel rooms are being tentatively held at the
Radisson
Hotel on Town Lake under the group name "University of Texas Finance
Department" for the nights of Thursday, 2/22/01 and Friday, 2/23/01 (the
latter evening for those who choose to stay in Austin after the
Conference's conclusion). To guarantee room reservations, you will need
to
contact the Radisson Hotel at (512) 478-9611 no later than Monday,
January
22nd, and make your reservations with a credit card. Please let me know
when you have made those arrangements so that I can make sure the
Radisson
gives you the special room rate of $129/night.
Please RSVP your interest in attending this conference NO LATER THAN
JANUARY 22nd to [email protected], or (512) 232-7386, as
seating
availability is limited. Please feel free to extend this invitation to
your colleagues who might be interested in attending this Conference.
Center for Energy Finance Education and Research
PROGRAM OF THE 2001 ENERGY FINANCE CONFERENCE
February 22 - 23, 2001
Thursday, Feb 22:
3:00 p.m. Reserved rooms at the Radisson Hotel available for
check-in
5:30 p.m. Bus will pick up guests at the Radisson for transport to
UT Club*
6:00 p.m. Cocktails, UT Club 9th Floor
7:00 p.m. Dinner, UT Club
8:00 p.m. Keynote Speaker
9:00 p.m. Bus will transport guests back to hotel
Friday, Feb 23:
7:45 a.m. Bus will pick up at the Radisson for transport to UT
8:30 a.m. Session 1 - REAL OPTIONS
Panelists: Jim Dyer, UT (Chair)
Sheridan Titman, UT
John McCormack, Stern Stewart & Co.
10:00 a.m. Coffee Break
10:15 a.m. Session 2 - DEREGULATION
Panelists: David Eaton, UT (Chair)
David Spence, UT
Jeff Sandefer, Sandefer Capital
Partners/UT
Peter Nance, Teknecon Energy Risk
Advisors
11:45 a.m. Catered Lunch & Keynote Speaker
1:30 p.m. Guest Tour - EDS Financial Trading & Technology Center
2:00 p.m. Session 3 - RISK MANAGEMENT
Panelists: Keith Brown, UT (Chair)
Vince Kaminski, Enron
Alexander Eydeland, Southern Co.
Ehud I. Ronn, UT
3:30 p.m. Snack Break
3:45 p.m. Session 4 - GLOBALIZATION OF THE ENERGY BUSINESS
Panelists: Laura Starks, UT (Chair)
Bob Goldman, Conoco
Ray Hill, Southern Co.
5:15 p.m. Wrap-Up
5:30 p.m. Bus picks up for transport to airport/dinner
6:30 p.m. Working dinner for senior officers of Energy Finance
Center
Trustees
*We have made arrangements to provide shuttle service between the
Radisson
hotel and UT during the conference. However, if you choose to stay at an
alternative hotel, then transportation to conference events
will become your responsibility.
**************
Angela Dorsey
Assistant Director
Center for Energy Finance Education & Research
The University of Texas at Austin
Department of Finance, CBA 6.222
Austin, TX 78712
[email protected]
************** |
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
the sender.
**********************************************************************
-----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 |
At Enron, we,re good at a lot of things: making markets, commoditizing
products, managing risk, offering innovative energy solutions to customers )
the list goes on and on. However, one of the things we could do a lot better
is watching our expenses. We,re all shareholders in this company, and we
need to spend our company,s dollars as wisely as we spend our own.
There are some simple, yet significant measures each of us can take to make
sure we,re careful with Enron,s money. The Policy Committee has approved and
recommended the following:
? Professional Services ) This is our largest area of discretionary spending,
at more than $600 million last year. &Professional Services8 includes our
contracts with outside law and accounting firms, contractors and other
consulting groups. To make sure that we are negotiating the best rates and
terms of service for the company across business units, we are requiring all
future professional service contracts and those up for renewal to be
negotiated through or in consultation with Global Strategic Sourcing (GSS),
effective July 1. In addition, contracts for more than $5,000 must be
pre-approved by the business unit senior executive or their designee and
GSS. For more information, see http://ibuyit.enron.com.
? On-line expense reporting tool XMS ) XMS, our online expense reporting
tool, enables us to expedite, monitor and report expenses. Effective July 1,
all employees on domestic U.S. payroll will be required to use XMS for
reimbursement of business-related expenses. To access XMS, go to
http://xms.enron.com/.
? Enterprise wide portal ) We currently have 122 internal web sites across
the company. The amount of technology work, marketing collateral, and other
related costs required to develop and support so many portals is sizeable.
It makes sense to have one Enron portal so you can efficiently access content
and services through a single, personalized channel that will make it easier
for you to find information and perform basic tasks online. This new
company-wide portal, under the leadership of Tony Mends, will be launched in
several phases beginning this fall.
Another significant area where we can be more diligent in our spending is
travel and entertainment. Enron has long had travel policies in place. As
we have grown, we have not done as well as we should have in communicating
those policies to new employees and reminding all employees to take advantage
of the discounts we have negotiated. The availability of discounts and
booking services online should make it easy to save money for the company
without sacrificing the comfort of employees who travel. The following are
common sense recommendations that we should all adhere to when traveling for
business. Any regular deviations from these travel policy recommendations
will be reviewed by each business unit leader.
? Air travel ) Employees are requested to use either Travel Agency in the
Park (TAP) or the GSS-approved preferred travel agency for your location -
all of which have access to the significant airfare discounts negotiated by
GSS - or http://clicktrip.enron.com/enron, the new online travel booking
service that allows employees to book their own travel with the same
negotiated discounts. Employees who fly in the United States should book
non-refundable coach tickets, which are typically 65 percent less than
refundable tickets and can usually be changed by simply paying a $100 fee.
For this reason, we strongly encourage all employees to purchase
non-refundable domestic coach tickets when possible.
? Lodging ) GSS has also negotiated preferred rates at a number of hotel
chains in many cities worldwide to accommodate each business unit,s
individual hotel policy. We recommend that you use Enron,s list of preferred
hotels to select accommodations that are in line with your business unit,s
policies. You can view the list at http://travel.enron.com.
? Car rental services ) When renting a car for business travel, employees
should use our preferred car rental agencies ) National (U.S. and Canada) and
Alamo (U.S.)- since the agreements we have negotiated are intended to protect
you and Enron through the insurance coverage in our contract. Visit
http://travel.enron.com for details and updates to services available outside
the U.S.
? Off-site meetings ) All domestic-U.S. off-site meetings and events with
more than 10 people should be coordinated through GSS, which will negotiate
preferred rates for Enron. They can be reached at (713) 646-8311.
Because there are differences between business units and offices, each
business unit leader will follow up this memo with a communication further
elaborating on these policies as they apply to their business unit.
Each of us has a responsibility to make sure we do our part to ensure Enron
retains its competitive edge. These recommendations are some basic, sensible
actions we can take company-wide, but it is up to every employee to look for
cost saving measures and do what makes sense in your daily activities. If
you have an idea or a suggestion you would like to share with us, please
e-mail us at [email protected]. A list of questions
and answers about these policies is posted on
http://ibuyit.enron.com/gss/ibuyit/csfaq.doc. If you have additional
questions, Policy Committee member Kevin Hannon will host an eSpeak on
Tuesday, June 19 at 10 a.m. Houston time to discuss these cost saving
recommendations. |
This NetClub offer includes:
1) Lucky Fares Week 43
2) Icelandair Holidays - Thanksgiving Express / CHECK-MATE in Iceland / Scandinavia / Icelandair Open Bridge Tournament
3) Icelandair/Hertz Car Rental and Icelandair Hotels.
4) British Booking Center - South East England Tour
5) eurobreaks.net - London on sale!
6) icelandtotal.com - All You Want To Know About Iceland.
________________________________________________________
For purchase on/before 30 October 2001 - by 12 Noon. Depart between 27 October and 14 November 2001.
Return no later than 21 November 2001. Minimum stay: Saturday night.
Taxes are additional to the fares listed below. Approximate taxes by destination can be found at
http://www.icelandair.com/taxes
1) Lucky Fares - Week 43
Depart from Baltimore
Travel to:
Reykjavik - $350usd
London, Glasgow, Paris, Frankfurt, Amsterdam - $300usd
Oslo, Stockholm, Copenhagen - $450usd
Depart from Boston
Travel to:
Reykjavik - $350usd
London, Glasgow - $278usd
Paris, Frankfurt, Amsterdam - $300usd
Oslo, Stockholm, Copenhagen - $450usd
Depart from New York (JFK)
Travel to:
Reykjavik - $350usd
London, Glasgow, Amsterdam - $250usd
Paris, Frankfurt - $325usd
Oslo, Stockholm, Copenhagen - $415usd
Depart from Orlando
Travel to:
Reykjavik - 400usd
Amsterdam - $275usd
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Vince, both Matt and April think that this type of research would be
value-additive to EBS. I will be out all next week in a meeting with John
Griebling and other on a deal that is being worked out. I understand that
you are following up with HR on all of our summer intern offers. Please make
sure Palo is given an offer and that he will work with April and Matt (he did
talk to Matt) on the topics that April and I suggested.
Regards,
Ravi.
----- Forwarded by Ravi Thuraisingham/Enron Communications on 02/20/00 12:41
AM -----
Matt Harris
02/17/00 08:08 PM
To: Ravi Thuraisingham/Enron Communications@Enron Communications
cc: April Hodgson/Enron Communications@Enron Communications
Subject: Re: Summer Intern: Paulo Oliveira
Looks interesting.
I would guess that there is a TON of research available (from @Home, AOL,
Roadrunner, Real, Microsoft, etc.) on Broadband's impact on the strategic
value of web properties. Compiling this would be very helpful.
MH
Ravi Thuraisingham
02/17/00 12:15 PM
To: April Hodgson/Enron Communications@Enron Communications, Matt
Harris/Enron Communications@Enron Communications
cc:
Subject: Summer Intern: Paulo Oliveira
Hi April & Matt, here is additional information on the summer intern that
I've mentioned.
Matt, I know you know nothing about this! My discussion with April on the
possible research topic let me (& April) to believe that you would provide
great input on what the student can work on while he is here.
Regards,
Ravi.
EBS Research
----- Forwarded by Ravi Thuraisingham/Enron Communications on 02/17/00 02:09
PM -----
Stinson Gibner@ECT
02/17/00 11:23 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc: Ravi Thuraisingham/Enron Communications@Enron Communications, Thomas D
Gros/HOU/ECT@ECT
Subject: Summer Intern: Paulo Oliveira
Vince: Here is the information that I have on Paulo. He would be slated
to work for the summer with April Hodgeson and Matt Harris on how streaming
media products may add value to advertising or some related area.
Actually, he would also be a good fit for helping to think ways to analyze
our Enron On-line data. I have asked if he can send a resume. In the
mean time, most of his relevant information is attached below.
--Stinson
---------------------- Forwarded by Stinson Gibner/HOU/ECT on 02/17/2000
11:14 AM ---------------------------
Paulo Rocha e Oliveira <[email protected]> on 02/10/2000 12:04:56 PM
To: "Stinson Gibner" <[email protected]>
cc:
Subject: Re: Trip to Houston
Stinson,
Thank you for your e-mail. My phone number is (617) 492-9551.
I graduated from Princeton University in 1996 (mathematics), and came
straight to MIT for a
Ph.D. in Operations Management at the Sloan Schoolof Management. In my first
three years I took all the required coursework in mathematics,
optimization, stochastic processes, etc., as well as a number of courses in
psychology (at MIT and Harvard). I am working with Prof. Gabriel Bitran,
and I am interested in the mathematical modeling of service operations. In
particular, I am interested in the interaction between customers and
companies (hence the interest in psychology). The (tentative) title of my
PhD thesis is "Pricing Substitute Products on the Internet", and I am
sending you the summary which I sent to Tom Gros a few weeks ago that will
give you an idea of what this research is about.
Thanks again, and I'm looking forward to meeting you and your research
group next week.
Paulo
Pricing Substitute Products on the Internet
Objective:
To develop new tools to decide pricing policies for goods and services sold
on
the internet.
Motivation:
This research is motivated by the fact that traditional choice and
optimization
models are not appropriate for internet-related businesses. The technological
innovations associated with the internet brought about an overload of
information
which inevitably affects the ways in which consumers make choices.
Furthermore,
companies have a great deal of influence on how much information consumers can
have access to.
The problem of pricing substitute products is an important strategic issue
faced
by internet companies. Consumers usually search for generic products (e.g.
VCRs
or computers) without knowing exactly what they will buy. Companies can show
different products and different prices to each consumer. This type of
flexibility
was not available until the internet came about.
The problem of pricing substitute products is not unique to the internet. The
methodology developed by this research should be transferable to a number of
other settings, such as pricing services. Services are unique, and there are
many cases where customers will only buy one of many services offered by a
given company. Our model will help companies decide which services to offer
to which customers and how much to charge for these services.
Research Strategy:
Our research strategy is to divide the pricing problem into two components
which can be combined to generate optimal pricing strategies. These
components are choice models and optimization models.
Choice Models:
Choice models describe how customers make choices. The management literature
draws on two main sources for these models: psychology and economics. The
common approach in psychology models is to use what are called heuristic
elimination methods. These methods consist of the elimination of options
based on the sequential elimination of features until only one choice
remains.
These methods tend to be very context-specific and do not lend themselves very
easily to mathematical analysis. Economists focus on utility-maximing models
that are significantly more mathematically tractable than psychological
models.
The most common economic model of choice is the logit model. The problem with
these types of models is that they are not very accurate reflections of how
consumer make choices on the internet. The first step in our research will
be
to develop choice models that capture the interactions going on between
customers
and companies on the internet.
Optimization:
Traditionally, the optimization problem consists of maximizing revenue over a
certain planning horizon. On the internet, the problem of maximizing revenue
still exists, but there is also a need to learn about customers. Short term
profit is based on sales, but long term profit is based on how well you know
your customers and are able to retain them. The optimization problem must
therefore include a short term component (sales) and a long term component
(learning). |
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 |
Bill/Philippe-
Below is a summary of the major problems which occurred the past 96 hours and
the steps taken to mitigate the damage and risk.
Enron Center North (1400 Smith)
As a result of the flooding downtown, approximately six skyscrapers had their
electrical vaults flooded and began to cause cascading problemd in the
electrical grid downtown. The net result was the loss of one of the two 35kv
circuits which serve 1400 Smith. We (engineers, EES Maint, electrical subs)
believe at the time the circuits blew we shifted from three phase to single
phase power, which caused an imbalance in the load to the building.
Consequently, UPS "C" which serves a portion of the Lv 34 Data Ctr, the Rolm
phone switch, and a protion of the Traders floors lost a circuitboard, and
blew two internal fuses. This power degradation caused PDU "S" on Lv 34 to
trip its main breaker and shutdown power load to servers and equipment on
this PDU. This occurred shortly after Noon on Saturday.
Response/Restoration
> UPS "D" transferred load from UPS "C" as the N+1 back up and carried the
full load of the UPS loss as designed
> EPSC/electrical sub (Henderson Electric); EES Maint; IT worked together to
power down systems to begin repair work by 4:00pm Saturday
> EPSC/EES Maint coordinated with Pillar/Henderson Elec to obtain replacement
parts and begin the repairs. By 9:30pm all repairs to UPS"C" had been made
and the system bought back on line. As a measure of extra protection the back
up genset for Enron Ctr North was in operation
> Reliant Energy restored the circuit at approximately 10:30pm Saturday
evening
> EPSC/EES Maint and subs conducted a thorough review of all electrical and
back up systems Saturday evening
> Enron Network IT Operations began restoration of all affected systems
Saturday evening
> EPSC/EES Maint obtained diesel fuel and topped off all gensets Saturday in
case of additional problems and due to fuel consumption during the outage
Other Building damage was limited to flooding in the tunnels, and water
damage/flooding to portions of the Body Shop on Lv B-1
Enron Center South (1500 Louisiana)
Impact/Damage Summary
> Levels 8 & 9 received very limited amounts of water from the core area
elevator shafts and exterior curtainwall. There was no exposure to water on
any systems or network cabling during the entire period. (Response) Crews
contained and cleaned all water as it traced into the building.
> ALL IDF closets on Lvs 3-5 Traders Floors remained dry throughout the
duration of the rains/flooding on Friday & Saturday
> Lv 6 received some water from Lv 7. (Response) The area was contained and
cleaned. No additional damage beyond Tuesday evenings flooding occurred
> Due to extreme street flooding and water pressure, a 10" sanitary sewer
line tied into ECS burst on Friday evening causing extensive flooding of Lv
B-1 area (approximately 4-6 inches of water in the basement. (Response)
Clark & Way Engr was able to install a temporary plug in the line to stop the
on going flood waters from penetrating the basement. Clean up has continued
throughout the weekend
> Due to the extreme flooding and water pressure, the water seal of the
Reliant Vault burst early Saturday and flooded the electrical vault room with
24-30" of water. This resulted in a complete loss of power at approximately
1:30pm on Staurday afternoon. The back up systems engaged and operated per
design to support the Data Ctr and Traders Floors. The temporary cooling
tower went off line. Prior to the flooding Clark had been in the process of
tieing in the temporary feed into the back up system by 7-1-01 in prep for
the migration (Response)
* Clark used back up water pumps to pump out and clean the Reliant
electrical vault, as well as maintained operation of the back up systems
* The Data Ctr AHU's were kept on line with the dehumidifiers/blowers to
modulate the airflow in the Data Ctr. EPSC had Way Engr techs use
temp/humidity probes
to monitor the areas. The recordings indicated temps on Lvs 8 & 9 did not
exceed 78 degrees and relative humidity did not exceed 68% during the outage
* Clark/Fisk Elec/EPSC coordinated desing efforts and obtained gear on an
emergency basis and completed the tie in off the temporary coolong tower to
the
generators by 10:30pm
* Reliant Energy is still cleaning and replacing gear in th vault room.
Presntly (AT 11:00PM Sunday) we have one circuit operational in the building
and 50% of the
Reliant gear on line). We are still operating all systems
safely on the back up sytems for the past 36 hours. It is expected Relaint
will be complete by 7:00am.
Clark; the engineers and MEP subs shall be conducting a thorough system
review and repirs as required of all systems throughout the building during
the coming
week.
In summary, the back up systems in both facilities did engage and operate as
designed; however, due to the extreme conditons and stress placed upon the
systems the facility held up extremely well. I would also like to note
throughout the ordeal beginning Friday evening through Sunday, everyone
(Enron NetWorks;EES FacilitiesClark Const;Way Engring;Fisk Electric;Henderson
Electric; KW-Pillar;Hines) did an outstanding job under enourmous pressure
and the most severe conditions I have seen in downtown Houston.
Communication, around the clock work and cool heads managed to assess damage
and develop action/restoration plans to facilitate repairs for Monday business
Let me know if you need further details on specific issues or items.
regards-
Henry |
The key state democratic legislators are working behind the scenes to develop
a Windfall Profits Tax bill in retaliation for high wholesale prices. It is
not yet in print. Here is an analysis of the expected bill by an attorney
for the Independent Energy Producers.
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 04/04/2001 09:40 AM -----
"Steven Kelly" <[email protected]>
04/04/2001 08:55 AM
To: "'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
Escalante (E-mail)'" <[email protected]>, "'Bob Gates (E-mail)'"
<[email protected]>, "Bob Szymanski (E-mail)"
<[email protected]>, "'Carolyn A Baker (E-mail)'"
<[email protected]>, "'Cody Carter (E-mail)'"
<[email protected]>, "'Curt Hatton (E-mail)'"
<[email protected]>, "'Curtis Kebler (E-mail)'"
<[email protected]>, "'David Parquet'"
<[email protected]>, "'Dean Gosselin (E-mail)'"
<[email protected]>, "'Doug Fernley (E-mail)'"
<[email protected]>, "'Douglas Kerner (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]>, "'Greg Blue (E-mail)'" <[email protected]>,
"'Hap Boyd (E-mail)'" <[email protected]>, "'Hawks Jack (E-mail)'"
<[email protected]>, "'Jack Pigott (E-mail)'" <[email protected]>, "'Jim
Willey (E-mail)'" <[email protected]>, "'Joe Greco (E-mail)'"
<[email protected]>, "'Joe Ronan (E-mail)'" <[email protected]>,
"'John Stout (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]>, "'Kent Palmerton'"
<[email protected]>, "'Lynn Lednicky (E-mail)'"
<[email protected]>, "Mark Fillinger (E-mail)"
<[email protected]>, "Marty McFadden (E-mail)"
<[email protected]>, "Paula Soos (E-mail)"
<[email protected]>, "Rachel King (E-mail)" <[email protected]>,
"'Randy Hickok (E-mail)'" <[email protected]>, "Rick S. Koebbe
(E-mail)" <[email protected]>, "'Roger Pelote (E-mail)'"
<[email protected]>, "'Ross Ain (E-mail)'" <[email protected]>,
"'Stephanie Newell (E-mail)'" <[email protected]>, "'Steve
Lliff (E-mail)'" <[email protected]>, "'Steve Ponder (E-mail)'"
<[email protected]>, "'Susan J Mara (E-mail)'" <[email protected]>, "'Tony
Wetzel (E-mail)'" <[email protected]>, "'William Hall (E-mail)'"
<[email protected]>
cc: "Julee Malinowski-Ball (E-mail)" <[email protected]>, "Andy Brown (E-mail)"
<[email protected]>, "'Carol Hudson (E-mail)'" <[email protected]>, "'Jan
Smutny-Jones (E-mail)'" <[email protected]>, "'Katie Kaplan (E-mail)'"
<[email protected]>, "'Steven Kelly (E-mail)'" <[email protected]>
Subject: FW: Proposed Windfall Profit Tax
FYI. Preliminary analysis of State Windfall Profit Tax. This will be
discussed during the cc scheduled for 9:00 a.m. today, Wed.
-----Original Message-----
From: C. Stephen Davis [mailto:[email protected]]
Sent: Wednesday, April 04, 2001 8:33 AM
To: Steven Kelly
Cc: Douglas K. Kerner
Subject: Proposed Windfall Profit Tax
Gentlemen:
I understand that the some of the Democratic leadership of the
California Legislature is contemplating a charge against the
electric-generating industry in retaliation for recent price increases. The
charge is to be styled as a "windfall profit tax" modeled on President
Carter's tax on oil company profits following deregulation of oil prices in
1980 (The Crude Oil Windfall Profit Tax Act of 1980, 26 USC 4986 et seq.).
The Carter Windfall Profit Tax was levied on the difference between the
current wellhead price of the oil and the sum of the adjusted base price set
by Congress, multiplied by the applicable rate. I understand the California
charge will similarly be calculated by reference to a 1999 base price and
current prices, to which difference some sort of tax rate will be applied.
You asked whether this approach to punishing electric wholesalers was infirm
from either a policy or legal perspective. The basic policy problem is that
the tax will discourage sales of electricity in California. California will
become the market of last resort. Another problem is that the Tax might be
seen as promoting a "California First" policy at the expense of other
states. This is so because the Tax could well be included in the FERC rate
base as "taxes other than income taxes," and thereby be shifted to other
customers.
The Tax may suffer from legal flaws as well. The principal problem is
preemption by The Federal Power Act. The states are prohibited from
regulating wholesale power rates as a direct burden on interstate commerce.
The proposed charge, whether called a "windfall profit tax" or an excise tax
or a sales or use tax or something else, is underground rate making. There
is little or no practical difference between a rate cap and a tax on all
revenues measured with reference to a certain price point from the
perspective of the interstate electric wholesaler. Thus, the burden on
interstate commerce posed by direct rate regulation and taxing revenues
using a price base is comparable.
The Tax may also constitute an unconstitutiional taking if the price
allowed is less than the cost of production and a reasonable return. The
proposed historical base price will not, for example, reflect recent fuel
price increases.
Two other potential issues arise as well. First, the tax has many of
the hallmarks of a use tax, i.e., the tax is levied on the purchase of goods
from an out-of-state provider for delivery to and use in California. The
gross receipts form the sale of electricity have been exempt from sales and
use tax for more than 50 years. Rev. & Tax. Code Section 6353. While this
statute could, presumably, be amended, doing so would be a major policy
departure and a big step towards imposing sales tax on utility sales. A
second concern is the possible impairment of existing contracts as a result
of the Legislature's meddling in rate regulation.
I was unable to identify any instance in which a state imposed a
windfall profit tax on electricity sales.
The forgoing is the product of my conversations last evening with
Doug Kerner and a few hours of LEXIS research. The issues are complex and
could not be much developed in the time available. This material is best
viewed as informed "issue spotting." Nevertheless, I feel strongly that
the proposed "Tax" can fairly be characterized as rate making.
Very Truly Yours, C. Stephen Davis |
Sara,
Looks like we never received the forward confirmations. We did receive the
put confirmations, which were received last week.
Please have the forward confirmations faxed to me today at 646-758-4819.
Russell F. Hackmann, CFA
Lehman Brothers Corporate Equity Derivatives
(201) 524-2279 phone
(917) 596-2936 cell
[email protected]
> -----Original Message-----
> From: Shackleton, Sara [SMTP:[email protected]]
> Sent: Monday, October 15, 2001 4:44 PM
> To: Hackmann, Russell
> Subject: FW: Re: confirmation of agreement--Enron
>
> Russ:
>
> The forwards and puts should be signed and faxed back to Lehman. Please
> note the template for these trades (with respect to the definition of
> "material") left out the word "into". I didn't find it necessary to
> impede Enron Corp.'s signature; just let Phil know for the next deal.
> Thanks. Sara
>
> Sara Shackleton
> Enron Wholesale Services
> 1400 Smith Street, EB3801a
> Houston, TX 77002
> Ph: (713) 853-5620
> Fax: (713) 646-3490
>
>
> -----Original Message-----
> From: Armogida, Jim
> Sent: Monday, October 01, 2001 9:16 AM
> To: Shackleton, Sara
> Subject: FW: Re: confirmation of agreement--Enron
>
>
> Here it is, Sara.
>
>
>
> -----Original Message-----
> From: Ladas, Michael [mailto:[email protected]]
> Sent: Friday, September 28, 2001 1:28 PM
> To: Despain, Tim; Armogida, Jim; Freeland, Clint
> Cc: Karna, Angie; Hackmann, Russell
> Subject: RE: Re: confirmation of agreement--Enron
>
>
> Tim - we are comfortable with the changes to the definition of
> "material"
> given that Lehman is not entering the market as a result of "rolling"
> the
> transaction. Should we amend the transaction in or enter in any future
> transaction where we enter the market on behalf of ENE, we would require
> the
> "standard" definition of "material.
>
> Mike Ladas
> p.201-524-2279
> c.646.319.3220
> [email protected]
>
> > -----Original Message-----
> > From: Despain, Tim [SMTP:[email protected]]
> > Sent: Friday, September 28, 2001 1:25 PM
> > To: Ladas, Michael
> > Subject: FW: Re: confirmation of agreement--Enron
> >
> >
> > As discussed.
> >
> > Tim
> >
> >
> > > -----Original Message-----
> > > From: Armogida, Jim
> > > Sent: Friday, September 28, 2001 11:42 AM
> > > To: '[email protected]'
> > > Cc: Freeland, Clint; Glisan, Ben; Despain, Tim; Walls Jr., Rob;
> > > Rogers, Rex
> > > Subject: Re: confirmation of agreement--Enron
> > >
> > > Russ--Clint is out today, but the confirmation document is fine
> except
> > > that there is a tweak we need to make to the definition of
> "material"
> > > information contained in the representation by Party B in the
> > > confirmation. It should read as follows:
> > >
> > > "Material" information for these purposes is any information to
> > > which Party A would reasonably attach importance in entering into
> this
> > > Transaction or placing any order with respect to this Transaction.
> > >
> > >
> > > I assume this is satisfactory. If not or you would otherwise like
> to
> > > discuss it, please contact Rex Rogers at 853-3069 since I will be
> out
> > > of the office later today. Thanks.
> > >
> > >
> > >
> >
> >
> > **********************************************************************
> > 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.
> > **********************************************************************
>
>
> ------------------------------------------------------------------------
> ------
> This message is intended only for the personal and confidential use of
> the designated recipient(s) named above. If you are not the intended
> recipient of this message you are hereby notified that any review,
> dissemination, distribution or copying of this message is strictly
> prohibited. This communication is for information purposes only and
> should not be regarded as an offer to sell or as a solicitation of an
> offer to buy any financial product, an official confirmation of any
> transaction, or as an official statement of Lehman Brothers. Email
> transmission cannot be guaranteed to be secure or error-free.
> Therefore, we do not represent that this information is complete or
> accurate and it should not be relied upon as such. All information is
> subject to change without notice.
>
>
------------------------------------------------------------------------------
This message is intended only for the personal and confidential use of the designated recipient(s) named above. If you are not the intended recipient of this message you are hereby notified that any review, dissemination, distribution or copying of this message is strictly prohibited. This communication is for information purposes only and should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product, an official confirmation of any transaction, or as an official statement of Lehman Brothers. Email transmission cannot be guaranteed to be secure or error-free. Therefore, we do not represent that this information is complete or accurate and it should not be relied upon as such. All information is subject to change without notice. |
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 Trades")
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 Trades") 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 broker" 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 Trades")
(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
broker", 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 ("DK") 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.
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com |
I apologize, I have been out sick until this afternoon and have not gotten to
it. I think, if memory serves me correctly, I think I was generally ok with
the language except for the proviso at the end because we do not know what
your internal policies are and how you would evaluate the assignee. It
basically strips out the right because it still leaves us subject to Enron's
caprice. Could you perhaps give me a better sense as to what the criteria
would be?
Thanks
Yair Yaish
Director and Senior Counsel
Allegheny Energy Global Markets, LLC
212-236-7955
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, April 18, 2001 7:16 PM
To: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Yair: Are we finished? Please let me know. Thanks.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/13/2001
08:42 AM
I hope to leave by 3:30 Eastern Time. Thanks for getting back to me so
quickly. Though, I'm surprised u guys are open for business today.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, April 13, 2001 9:41 AM
To: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Yair:
I've left a message with Tracy Ngo (in Portland) and will let you know as
soon as I hear from her. How long will you be in the office today?
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/13/2001
08:28 AM
Sara, Allegheny would like to be able to assign to affilaites in the same
manner that we are allowing Enron to make an ssignment so long as the Gty
goes along. In our case, however, there is no gty, hence the stipualtion
that such assignment must be to an entity with an equal or better credit
rating. If you wish, I can limit such assignment to an entity rated at
least BBB+ or better. Would that resolve your concerns?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, April 12, 2001 12:26 PM
To: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Yair:
It's a good thing you didn't try to get back to me! Sorrry.
(See attached file: AlleghenyCPformacceptR1.DOC)
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/12/2001
10:16 AM
Sara, sorry i didn't get back to you yesterday, I was out sick. I didn't
notice anything attached, did u send a subsequent e-mail?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, April 11, 2001 4:01 PM
To: [email protected]
Cc: [email protected]
Subject: RE: ISDA Schedule/Paragraph 13
Importance: High
Yair:
Attached is my redline. Call me so that we can discuss the remaining
issues, including:
(1) Calculation Agent. We believe that the existing dispute mechanism is
adequate.
(2) Procedures for Entering into Transactions. There is no procedure for
dual confirms. This is too confusing.
(3) Transfer. We cannot agree to your assignment provision as it is too
subjective.
The other changes were not substantive.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
"Yaish, Yair
(OGC)" To:
"'[email protected]'" <[email protected]>
<YYaish@exchan cc:
ge.ml.com> Subject: RE: ISDA
Schedule/Paragraph 13
04/10/2001
07:46 AM
Sara, any thoughts on my comments ISDA I sent out last week?
-----Original Message-----
From: Yaish, Yair (OGC)
Sent: Thursday, April 05, 2001 6:19 PM
To: '[email protected]'
Subject: RE: ISDA Schedule/Paragraph 13
Sara, I have good news, I think we are very close to executing this baby.
I am attahcing comments to the ISDA. They reflect comments by our outside
cousel which highlight the differences between this contract and the side
letter/ML ISDA. They are not much. I have also made some changes directly
on their draft where I either concurred with Enron or needed to make some
of my own changes. Pls review and let me know what you think.
I will be leaving the office soon, so if we can wrap it up tomorrow that
would be great (I'm out Monday for Passover).
Yair Yaish
Director and Senior Counsel
Allegheny Energy Global Markets, LLC
212-236-7346
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, March 30, 2001 4:10 PM
To: [email protected]
Subject: ISDA Schedule/Paragraph 13
Yair:
Attached is a blacklined (against the Enron North America Corp. draft of
3/15/01) Schedule and Paragraph 13 to the ISDA Credit Support Annex. I
have tried to incorporate the essence of the March 19, 2001 "swap side
letter agreement." Please call me to discuss as it would be nice to
finalize by April 6. Thanks.
(See attached file: 098a Blackline ctr (Allegheny Energy Supply).doc)
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected] |
Legal Work Group
Please find attached Eric Freedman's status report on his sub group's
activities
for your information and for discussion at our meeting next week.
Barney Speckman
RTO West KEMA Team
Portland Office Phone 503-258-0475
RTO West Offices
5933 NE Win Sivers Drive
Portland, Oregon
BMS Consulting
2130 Belford Drive
Walnut Creek, Calif. 94598
925-287-0365 (Walnut Creek Phone and Fax)
Return-Path: <[email protected]>
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Message-ID: <[email protected]>
From: "Freedman, Eric (SEA)" <[email protected]>
To: "'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "xx-Christensen, Eric (SNO PUD)"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
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<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
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<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>
Cc: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>
Subject: Bylaws, Articles, Tax Status Subgroup -- Status Report
Date: Wed, 21 Jun 2000 23:07:58 -0700
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2651.58)
Content-Type: text/plain; charset="iso-8859-1"
This e-mail is intended to reach all of those who have expressed an
interest in being part of the Legal Work Group subgroup addressing the RTO
bylaws, articles and tax status. Please let me know if my e-mail
distribution list is missing anyone who would like to participate in the
subgroup.
I would divide the immediate tasks before us into four main
categories:
1. General Governance Issues (Especially RTO Membership, Board
Composition and Technical Advisory Committee Issues)
At the Governance Workshop on June 15, we had a good discussion of
issues relating to the appropriate number and scope of membership classes,
board composition and method of selecting the members of the Technical
Advisory Committee. Barney Speckman is in the process of scheduling a
meeting in early July for a continuation of discussion of these topics and
any other governance issues that may be of interest.
2. Board and Employee Conflict of Interest Provisions/Board
Member Qualifications
One element of the RTO bylaws that will require a fair amount of
thought and discussion is the appropriate nature and extent of the trustee
and employee disqualification/conflict of interest provisions. Another such
element is the required qualifications of the RTO board members. John
Buechler of the New York ISO has prepared for us a good summary of the board
member qualifications that have been adopted or are under consideration by
various existing or proposed ISOs, and Barney Speckman will distribute
copies of John's summary to the group. I would like to have a discussion of
these issues at the next meeting, with the aim of preparing and circulating
one or more straw man proposals as soon thereafter as possible.
3. Consideration of Jurisdiction of Incorporation/Conforming
Revisions to Bylaws
IndeGO was proposed to be formed in Utah, in large part because
Utah's nonprofit corporation law was determined as of three years ago to
contain the most favorable provisions for trustee indemnification of any
state in which IndeGO was proposed to operate. RTO West, the nonprofit
corporation that is serving as the vehicle for our RTO in formation, was
incorporated this spring in Washington in large part on the strength of
Washington's provisions for indemnification of nonprofit corporation
trustees. Our subgroup needs to review the laws of the states in which RTO
West would operate, and come up with a recommendation as to whether
consideration should be given to incorporation of the RTO in any state other
than Washington. Once a determination is made as to the appropriate state
for incorporation, the bylaws will need to be conformed to the requirements
of that state's nonprofit corporation law. Anyone who is interested in
helping out on these fronts is most welcome.
4. Potential RTO Application for Tax Exemption
The California ISO has been qualified for exemption from federal
income tax, and a determination needs to be made whether such qualification
would be appropriate for RTO West as well. Our subgroup has been given the
task of identifying the relevant considerations to be taken into account in
making the determination whether to seek tax-exempt status. Robb Roberts
and Sanjiv Kripalani have expressed interest in helping to undertake this
analysis. If any of the rest of you is interested in participating, please
let me know.
I will be out of the office for the next week-and-a-half, but will
be checking voice mail and e-mail regularly.
I look forward to seeing you all soon.
Eric
Eric E. Freedman
Preston Gates & Ellis LLP
701 Fifth Avenue, Suite 5000
Seattle, WA 98104-7078
Phone: (206) 623-7580 x 7727
Direct: (206) 224-7327
FAX: (206) 623-7022
E-mail: [email protected]
CONFIDENTIALITY STATEMENT: The foregoing message contains information that
is protected by the attorney-client privilege. If this message was sent to
you in error, any use, disclosure or distribution of its contents is
prohibited. If you received this message in error, please call Preston
Gates & Ellis LLP at the number listed above, and delete this message
without copying it. Thank you. |
------------------------------------------------------------------------------------------------------
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
May 4, 2001 5:00pm through May 7, 2001 12:00am
------------------------------------------------------------------------------------------------------
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 5/4/2001 at 9:00:00 PM CT thru Fri 5/4/2001 at 10:00:00 PM CT
Fri 5/4/2001 at 7:00:00 PM PT thru Fri 5/4/2001 at 8:00:00 PM PT
Sat 5/5/2001 at 3:00:00 AM London thru Sat 5/5/2001 at 4:00:00 AM London
Outage: Consolidation Of Networks
Environments Impacted: ENA
Purpose: Consolidating Network Equipment. Moving networks 172.16.48.20, 172.16.136.20, 172.16.51.20, and 172.16.194.20
from 3460 to 3405.
Backout:
Contact(s): George Nguyen 713-853-0691
Impact: CORP
Time: Sat 5/5/2001 at 1:00:00 PM CT thru Sat 5/5/2001 at 7:15:00 PM CT
Sat 5/5/2001 at 11:00:00 AM PT thru Sat 5/5/2001 at 5:15:00 PM PT
Sat 5/5/2001 at 7:00:00 PM London thru Sun 5/6/2001 at 1:15:00 AM London
Outage: Migrating EES VLANs from EB3405-cx11 and EB3405-cx12 to EB3405-cx13 and EB3405-cx14
Environments Impacted: EES
Purpose: Off-load CPU usage onto current EB3405-CX13 and EB3405-CX14; increase throughput and redundancy.
Backout: Remove EB3405-CX13 and EB3405-CX14.
Replace original access-links connecting HOUCX1 and HOUCX2 back to EB3405-CX11 and EB3405-CX12.
Contact(s): Michael Huang 713-875-2478 877-692-2751
Impact: ENS
Time: Fri 5/4/2001 at 10:30:00 PM CT thru Sat 5/5/2001 at 12:00:00 AM CT
Fri 5/4/2001 at 8:30:00 PM PT thru Fri 5/4/2001 at 10:00:00 PM PT
Sat 5/5/2001 at 4:30:00 AM London thru Sat 5/5/2001 at 6:00:00 AM London
Outage: Migrating Networks Off Cisco 3 and Cisco 4
Environments Impacted: ENA
Purpose: Migration of Networks Off Legacy Cisco Boxes
Backout:
Contact(s): George Nguyen 713-853-0691
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING:
Impact: Corp Notes
Time: Fri 5/4/2001 at 9:00:00 PM CT thru Sat 5/5/2001 at 1:00:00 AM CT
Fri 5/4/2001 at 7:00:00 PM PT thru Fri 5/4/2001 at 11:00:00 PM PT
Sat 5/5/2001 at 3:00:00 AM London thru Sat 5/5/2001 at 7:00:00 AM London
Outage: cNotes Server Reboots
Environments Impacted: All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval
Backout: Make sure server comes up.
Contact(s): Trey Rhodes (713) 345-7792
Impact: EI
Time: Fri 5/4/2001 at 9:00:00 PM CT thru Sat 5/5/2001 at 1:00:00 AM CT
Fri 5/4/2001 at 7:00:00 PM PT thru Fri 5/4/2001 at 11:00:00 PM PT
Sat 5/5/2001 at 3:00:00 AM London thru Sat 5/5/2001 at 7:00:00 AM London
Outage: EI Notes Server Maintenance
Environments Impacted: EI Local/Domestic/Foreign Sites
Purpose: Scheduled @ 2 week interval
Backout: N/A
Contact(s): David Ricafrente 713-646-7741
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: Corp, OTS, ETS
DATE: MAY 15, 2001/2/2001 at 5:30:00 PM
Outage: Migrate DSS Server to GTHOU-APPSQ03P
Environments Impacted: DSS users will not be able to access the old server (ENEDS01_ADAPT)after this date
Purpose: The existing server is outdated, migrating to SQL 2000 provides increased
functionality and conforms to database platform requirements.
Backout:
Contact(s): Mary Vollmer 713-853-3381
Joe Hellsten 713-853-7346 713-545-4164
Impact: EBS
Time: Fri 5/4/2001 at 8:00:00 PM CT thru Fri 5/4/2001 at 10:00:00 PM CT
Fri 5/4/2001 at 6:00:00 PM PT thru Fri 5/4/2001 at 8:00:00 PM PT
Sat 5/5/2001 at 2:00:00 AM London thru Sat 5/5/2001 at 4:00:00 AM London
Outage: EIGRP Integration - EBS and ENW
Environments Impacted: All
Purpose: The EBS network is being integrated into the ENW network. As part of the integration, we will need to bring up EIGRP process 5 on the EBS networking devices. This is the first step in the routing integration. Since ENW is already static routing 10.0.0.0/8 to EBS and EBS is static routing 172.16.0.0/12 and 192.168.0.0/16 to ENW, the impact should be nil.
Backout: Remove eigrp process 5 from iah-ecn44-rtr3.enron.net
Contact(s): Dennis McGough 713-345-3143
Scott Shishido 713-853-9780
Impact: CORP
Time: Sat 5/5/2001 at 12:00:00 AM CT thru Sat 5/5/2001 at 1:00:00 AM CT
Fri 5/4/2001 at 10:00:00 PM PT thru Fri 5/5/2001 at 11:00:00 PM PT
Sat 5/5/2001 at 6:00:00 AM London thru Sat 5/5/2001 at 7:00:00 AM London
Outage: Elvis webserver maintenance.
Environments Impacted: Internet Web pages.
Purpose: Physically stabilize the server in the rack.
Backout: Leave server on shelf unracked
reboot the server
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 5/4/2001 at 6:00:00 PM CT thru Fri 5/4/2001 at 8:00:00 PM CT
Fri 5/4/2001 at 4:00:00 PM PT thru Fri 5/4/2001 at 6:00:00 PM PT
Sat 5/5/2001 at 12:00:00 AM London thru Sat 5/5/2001 at 2:00:00 AM London
Outage: ClearCase Patch
Environments Impacted: Corp
Purpose: This patch will resolve several issues involving the MVFS (ClearCase file system.)
Backout: Remove the patch
Contact(s): Troy Beyer 713.345.8316 713.406.1782
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: No Scheduled Outages
TERMINAL SERVER: No Scheduled Outages.
UNIFY: No Scheduled Outages.
-----------------------------------------------------------------------------------------------------------------------------
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 |
We are just looking for further verfication that the RErecall can be enacted on 24 hours notice regarding of the term of the proposed recall. I believe there are some distinctions relative to the requested term. To the extent that there is a perpetual 24 hour RErecall (is 24 hours based on date recall is effectuated or the date gas flows pursuant to recall?), PG&E paid $58 million for protection that is not worth very much.
Just looking for greater clarification. To the extent it may help us with our position regarding the ability to turn back the 200 M2/d of capacity, it may be worth the expense to have independent verfication.
Thanks,
STeph
-----Original Message-----
From: Cantrell, Rebecca W.
Sent: Friday, August 17, 2001 12:02 PM
To: Miller, Stephanie; Lawner, Leslie
Cc: Tycholiz, Barry
Subject: RE: Block III Recall Rights
Steph: Exactly what are you looking for - I'm not sure we could give you an opinion of the mechanics. If you remember, we looked at this issue back in March and I sent you the e-mail message below. Since then, FERC has issued orders in Docket No. RP00-241 on 3/28/2001 and 6/11/2001 which reaffirmed its rulings in the orders discussed below. There is no discussion in any of the orders on the specific mechanics of the recall other than what I already noted, namely, if the capacity has been recalled by El Paso or a shipper to serve a PG&E market, and the original shipper wants it back, it can re-recall the recalled capacity on 24 hours notice as long as it is using all of its other Block II capacity. If you need something more "legal", we'll see what we can do. If we have to go to Bracewell for a law firm legal opinion, there would be a charge since they'd have to do the same research before they could sign off on one.
From: Rebecca W Cantrell 03/27/2001 04:38 PM
To: Stephanie Miller/Corp/Enron@ENRON
cc:
Subject: Re: block II
I would note also that the recent reallocation of Topock rights takes care of one of the issues -- namely that El Paso allowed Dynegy to take Block II capacity to SoCal Topock. The 4/14/00 order should have taken care of it, except for El Paso's position that they had capacity at Topock in the aggregate so they weren't overselling it.
Order Date Block II Rulings
6/14/2000 Denial of Rehearing by Operation of Law Denies Indicated Shippers request for rehearing of 4/14/00 order.
4/14/2000 Order on Rehearing (Enron) Clarifies the January 19 order to provide that El Paso may remarket the PG&E turnback capacity, including Block II, for primary delivery to delivery points other than PG&E Topock if capacity is available at those other delivery points.
1/19/2000 Order on Negotiated Rate Transactions (Enron & Williams) Block II capacity has primary delivery rights only at PG&E Topock and alternative rights at the other Topock delivery points. Rejects CPUC argument against the recall provisions, which are the same as ultimately accepted in the Dynegy deal (see 10/19/99, 7/29/99, 9/17/98 and 6/11/98 orders) and provide (1) that there is no right of recall if the Block II capacity is simply idle, (2) that the capacity may be recalled if it is being used to serve points other than those behind PG&E Topock, and (3) if so recalled, it may be recalled by the original shipper for its own use in the PG&E service territory upon 24 hours notice. Clarifies, as in Dynegy, that the shipper (Enron) must use all its other Block II capacity before recalling other Block II capacity, but is not required to use Block I or Block III capacity first.
10/19/1999 Order on Rehearing and Clarification (Dynegy) Denies rehearing of 7/29/99 order
7/29/1999 Order on Rehearing and Compliance Filing (Dynegy) Affirms that PG&E and the CPUC are entitled to have the Block II capacity recalled to northern California even if it is under contract [to Dynegy]. Reverses previous ruling -- does not require that all other capacity to California be utilized before Block II capacity can be recalled. Per Settlement, recalling shipper must pay max rate to recall if its contract is one month or less. If for more than one month, the rate must equal or exceed the rate of the existing shipper. On 24 hours notice, the existing shipper (i.e., Dynegy) may recall for its own use to serve northern California markets, capacity that was recalled for use by other shippers, even if those shippers are willing to pay a higher rate. Clarifies that if the Block II capacity is idle but is not being used to serve areas outside of northern California, [Dynegy] may hold the capacity without any obligation to release it.
9/17/1998 Letter Order on Compliance Filing Requires the Dynegy/El Paso agreement to clearly state that Block II capacity was recallable even though Dynegy had a minimum take requirement. Requires El Paso to eliminate use of alternative delivery points as the defining point for the service that would be recalled -- issue is markets served, not delivery points. Requires elimination of a clause requiring recalling shipper to submit a sworn statement that no capacity was available on other pipelines.
6/11/1998 Shippers in northern California cannot recall Block II capacity simply because it is not actually being used by [Dynegy]. Block II is recallable if [Dynegy] is using it to serve end users not within PG&E's service territory. Shippers who want to recall Block II capacity must have an actual need and may only recall if firm capacity is not available to PG&E's service territory via El Paso or via any other pipeline available to the shipper.
-----Original Message-----
From: Miller, Stephanie
Sent: Friday, August 17, 2001 9:22 AM
To: Cantrell, Rebecca W.; Lawner, Leslie
Cc: Tycholiz, Barry
Subject: Block III Recall Rights
Further to our discussions about our EPNG capacity:
Our research had resulted in an opinion that there is little value associated with PG&E's (northern CA customers) recall rights on Block III capacity. While it was not part of the original settlement, the 24 hour RE-recall rights to the shipper of record appear to give PG&E a DAILY call on capacity at best.
Because we have pieced this opinion together based upon rulings in various proceedings, we would like a more formal regulatory/legal opinion of the mechanics of the RE-recall provision that has been developed over time. Is this something that either of you can provide or should it go to Randy? The results of this inquiry will set the tone of our next round of dicussions with EPNG.
By the way, still waiting on their written reponse to our letter..... I think they have bigger fish to fry.
Please advise.
Stephanie
<Embedded Picture (Metafile)> |
FYI
---------------------- Forwarded by Gavin Dillingham/ENRON_DEVELOPMENT on
08/28/2000 08:05 AM ---------------------------
[email protected]@enron.com on 08/28/2000 07:36:46 AM
To: [email protected]
cc:
Subject: fyi
Please send to the distribution list
---------------------- Forwarded by Steven J Kean/NA/Enron on 08/28/2000
07:36 AM ---------------------------
From: Cindy Derecskey on 08/25/2000 04:01 PM
To: Steven J Kean/NA/Enron@Enron, James D Steffes/HOU/EES@EES, Richard
Shapiro/HOU/EES@EES
cc:
Subject: fyi
----- Forwarded by Cindy Derecskey/Corp/Enron on 08/25/2000 04:00 PM -----
"Martin, Kim" <[email protected]> on 08/25/2000 03:51:17 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: fyi
Didn't know if you saw this column in today's LA Times, but he makes some
good arguments...
> JAMES FLANIGAN: Simple Steps May Ease Self-Inflicted
> Electricity Woes
> Los Angeles Times -- August 25, 2000 [Return to Headlines]
>
>
> Publication Date: Friday August 25, 2000
> Page C-1
> Los Angeles Times (Home Edition)
> Copyright 2000 / The Times Mirror Company
> By JAMES FLANIGAN
>
> Let's be clear, the fact that the state botched the job of
> deregulation to begin with is one reason California's electricity market
> is such a mess.
>
> But failure to build a single new power plant in the state
> even as California's economy expanded its use of electricity is the basic
> cause of today's shortages and soaring prices in San Diego, Orange County
> and other areas.
>
> Still, some simple steps can be taken by regulators,
> legislators and Gov. Gray Davis to provide immediate relief.
>
> The state's major utilities should be free to buy power
> wherever they can get it. They should not have to buy exclusively from
the
> Power Exchange, the Pasadena-based power pool that was set up by the 1998
> deregulation to achieve auction-based prices for roughly 80% of the
> state's electricity.
>
> Approval should be expedited for adding smaller generating
> plants that supply power at times of peak demand. That could alleviate a
> tight supply-demand situation over the next year or two while larger
> plants are built.
>
> Long term, the state needs to speed up the approval process
> for building new electricity plants. The state also should force
utilities
> to invest in the still-regulated system of power transmission lines,
which
> now has weaknesses in the San Diego and San Francisco areas.
>
> Perhaps the most glaring fact about California's electricity
> problem is how few companies have stepped up to supply power to this
> enormous market, the nation's biggest. Only 15 or so suppliers, including
> federal agencies, the state's own utilities, municipal companies and
> private generating firms, supply power to California's system.
>
> By contrast, Pennsylvania, which has an electricity market
> less than 12% the size of California's, has 130 separate suppliers of
> electricity today, reports John Quain, chairman of that state's Public
> Utility Commission.
>
> It's no coincidence that Pennsylvania has seen monthly
> electric bills drop 3% on average since deregulation. "It's worked out
> terrifically," Quain says.
>
> What did California do wrong? It allowed the state's major
> utilities--Pacific Gas & Electric, Southern California Edison and San
> Diego Gas & Electric--to recover 100% of their unrecovered or "stranded"
> costs for nuclear and hydroelectric plants and for past power purchase
> schemes mandated by the California legislature to encourage alternative
> sources of energy.
>
> Then California's legislators told the utilities to sell
> their conventional power plants to private generating companies, all of
> which would sell their power to a central Power Exchange.
>
> The California scheme was flawed, at once over-regulated and
> yet commercially clueless in not foreseeing trouble from a single power
> pool fed by only a handful of suppliers.
>
> How did Pennsylvania do it? It allowed the state's utilities
> to recover no more than 67% of their stranded costs for nuclear
> plants--reasoning that company shareholders should accept some of the
risk
> of their investments. And rather than set up a central power exchange,
the
> state allowed its utilities and newcomers to the state's electric system
> to compete for business.
>
> Competition, after all, is what deregulation is supposed to
> encourage. And competition is not happening in California.
>
> It should be noted that the summer is relatively cool in the
> East this year and extraordinarily hot throughout the West. All the
> Western states are suffering electricity problems. That's another reason
> for California's trouble.
>
> Normally, 28% of California's electricity comes from U.S.
> and Canadian government systems and from utilities in Oregon and
> Washington, Nevada and Arizona. But this year, because of lower
> hydroelectric supplies and higher demand from booming economies in those
> other states, power for California is in shorter supply and more
expensive
> when the state can get it. Now there are accusations that some suppliers
> to California have taken advantage of their market leverage to extract
> premium prices for power.
>
> There's nothing illegal in angling for a better price or in
> using futures markets and other trading techniques, as some generators
may
> have done. If any stepped over the line to illegal collusion, federal and
> other investigations will determine the facts.
>
> But who gave the generators the market leverage to exploit
> us? The California regulators, legislators and utilities did. Told to
sell
> their generating plants in 1998, the utilities sold dozens of plants in
> package deals of two and three to single buyers. They received premium
> prices from buyers such as AES Corp., Duke Energy, Southern Co. Reliant
> Energy, Dynegy and NRG. The premiums were paid for the market leverage
> that multiple plants afforded the buyers.
>
> Nobody in the utilities reckoned that they were handing
> market leverage to potential commercial adversaries. Nobody in the
> Legislature or the regulatory staffs reckoned that the central Power
> Exchange could be held up by market leverage.
>
> As outsiders often say about Californians: "Maybe it's the
> sunshine makes them slow."
>
> (END)
>
> 05:23 EDT August 25, 2000
> Copyright , 2000 Times Mirror Company
>
>
>
> |
This is an easy one. 1400 Smith, EB3803B.
Thanks!
Marie
-----Original Message-----
From: "Hudson, Roeline" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Hudson+2C+20Roeline+22+20+3CHudsonR+40teai+2Ecom+3E+40ENRON@ENRON.com]
Sent: Wednesday, October 03, 2001 4:28 PM
To: Heard, Marie
Subject: RE: Fee Letter
Hi -
You didn't think you would away today without another e-mail from me, did
you???? (just joking)
When I courier these documents over to you tomorrow I will send them to 1400
Smith Street, but don't I have to put in a building number or room number
for you in order that it will get to you for sure? Let me know what that is
-
Thanks,
Until tomorrow,
Roeline
> -----Original Message-----
> From: [email protected] [SMTP:[email protected]]
> Sent: Wednesday, October 03, 2001 3:28 PM
> To: [email protected]
> Subject: RE: Fee Letter
>
> Hi, Roeline:
>
> We would prefer to sign the fee letter at the same time we sign the
> assignments. Yes, we will sign enough originals of all documents so that
> all parties can have an original.
>
> Hopefully we can get this wrapped up tomorrow, as I will be out of the
> office Friday.
>
> Marie
>
> -----Original Message-----
> From: "Hudson, Roeline" <[email protected]>@ENRON
>
> [mailto:IMCEANOTES-+22Hudson+2C+20Roeline+22+20+3CHudsonR+40teai+2Ecom+3E+
> [email protected]]
>
>
> Sent: Wednesday, October 03, 2001 3:26 PM
> To: Heard, Marie
> Subject: RE: Fee Letter
>
> Marie -
>
> One more question - I received some of these in duplicate, and some of
> them
> were original only. Like the Termination Agreement that you just
> couriered
> over to me - I only got one original from you, and there are two
> signatures.
> We would like to have an original signature as well - so are we going
> to
> do
> this after the fact? That would be okay by me, because I want to have
> them
> all signed and off my desk - so just let me know how you think we
> should
> do
> this.
>
> Thanks, Marie -
> Roeline
>
>
> > -----Original Message-----
> > From: [email protected] [SMTP:[email protected]]
> > Sent: Wednesday, October 03, 2001 1:32 PM
> > To: [email protected]
> > Cc: [email protected]
> > Subject: RE: Fee Letter
> >
> > Hi, Roeline!
> >
> > I'm sending the original revised Termination Agreement over to you
> this
> > afternoon. Let me know if you have any questions or need anything
> else.
> >
> > Marie
> >
> > -----Original Message-----
> > From: "Hudson, Roeline" <[email protected]>@ENRON
> >
> >
>
> [mailto:IMCEANOTES-+22Hudson+2C+20Roeline+22+20+3CHudsonR+40teai+2Ecom+3E+
> > [email protected]]
> >
> >
> > Sent: Wednesday, October 03, 2001 9:52 AM
> > To: Heard, Marie
> > Subject: RE: Fee Letter
> >
> > Hi Marie,
> >
> > The fee letter looks good - and I have all of the paperwork here,
> > except
> > of
> > course the Termination letter for ENA Deal #0619, which you
> indicated
> > the
> > Confirmation Desk was workin on. So things look good to go.
> >
> > I have the paperwork back from both Dynegy and Sempra, but United
> Oil's
> > letters is being reviewed by its lawyer today. He was away for
> the
> > past
> > two
> > days. As soon as I have everything together I will courier the
> > complete
> > package to you - one detail that I forgot to mention - right now I
> have
> > fax
> > copies only, and I hope it will suffice until I can get original
> > signatures.
> > If it does not, then we are in real trouble!! So say it is okay -
> and
> > I
> > will work on the originals after the deal is completed.
> >
> > Thanks for all your help, Marie.
> >
> > Roeline
> >
> >
> >
> > > -----Original Message-----
> > > From: Heard, Marie [SMTP:[email protected]]
> > > Sent: Wednesday, October 03, 2001 8:51 AM
> > > To: [email protected]
> > > Cc: Diamond, Russell
> > > Subject: Fee Letter
> > >
> > > Hi, Roeline!
> > >
> > > Attached for your review is a draft of the proposed fee letter
> in
> > > connection with the assignments and terminations. Please let me
> know
> > if
> > > you have any comments.
> > >
> > > Our Confirmation Desk is in the process of revising the
> termination
> > of
> > > ENA Deal No. NL0619.1 to delete the fee reference, and I will
> forward
> > it
> > > to you when ready.
> > >
> > > Please let me know when you have signoff on the other documents
> and I
> > > will finalize and have executed by ENA and forward to you.
> > >
> > > Thanks!
> > >
> > > Marie
> > >
> > >
> > > <<060ltr (torch).doc>>
> > >
> > >
> > >
> >
> **********************************************************************
> > > 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.
> > >
> >
> **********************************************************************
> > <<
> > > File: 060ltr (torch).doc >> |
Are the attached Deemed ISDA's ready to go in order to send confirms out? If
so, should the confirms group use the attachments from Carol's email on the
17th or from her email on the 18th?
Thank you:
Derek
---------------------- Forwarded by Derek Bailey/Corp/Enron on 04/20/2001
01:17 PM ---------------------------
Mog Heu
04/20/2001 01:12 PM
To: Derek Bailey/Corp/Enron@ENRON
cc:
Subject: AIG Confirms
---------------------- Forwarded by Mog Heu/NA/Enron on 04/20/2001 01:04 PM
---------------------------
Caroline Abramo
04/18/2001 12:59 PM
To: Mog Heu/NA/Enron@Enron
cc:
Subject: Confirms
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 04/18/2001
01:59 PM ---------------------------
Carol St Clair @ ECT 04/17/2001 04:46 PM
To: Caroline Abramo/Corp/Enron@Enron
cc: Paul Radous/Enron@EnronXGate, Brent Hendry/NA/Enron@Enron, Sara
Shackleton/HOU/ECT@ECT
Subject: Confirms
Enclosed are drafts of the 2 confirms. Alos enclosed is a comparison of the
2 to show the differences.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 04/18/2001
01:59 PM ---------------------------
Carol St Clair @ ECT 04/17/2001 04:54 PM
To: [email protected]
cc: Brent Hendry/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Paul
Radous/Enron@EnronXGate, Caroline Abramo/Corp/Enron@Enron
Subject: Cash Collateral
Christopher:
We have done a trade with a Bermuda hedge fund and have negotiated collateral
provisions that may require them to post csah to us. The agreement will be
governed by either Texas or New York law. We need your advice on how to
perfect our interest in any cash posted to us that we would hold in an
account in the United States. Could you please call either me or Sara
Shackelton (713)853-5620 if possible tomorrow or you can send me an e-mail if
that is easier. I'm hoping that our possession of the cash is enough. Sorry
for the short fuse on this. If you need any additional information, please
contact me or Sara. I will be unavailable from 9-11 and 2-3 tomorrow Houston
time.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 04/18/2001
01:59 PM ---------------------------
Carol St Clair @ ECT 04/18/2001 10:18 AM
To: "Chris Garrod" <[email protected]>@ENRON
cc: Caroline Abramo/Corp/Enron@Enron, Paul Radous/Enron@EnronXGate, Sara
Shackleton/HOU/ECT@ECT, Brent Hendry/NA/Enron@Enron
Subject: Re: Cash Collateral
Chris:
Thanks for your prompt response. I think that we do need to register the
charge document which in this case would be the confirmation that will be
executed. Can you provide me with an estimate of the total cost?
Does everyone at Enron agree?
Caroline,
I will redraft the Bermuda confirm to change from LC's to cash and send to
you. Please make sure that the counterparty is aware that we plan to
register/file the confirm in Bermuda.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
"Chris Garrod" <[email protected]>
04/18/2001 09:50 AM
To: <[email protected]>
cc: <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>
Subject: Re: Cash Collateral
Dear Carol
Under Bermuda law, there is no real concept of "perfecting" security since it
is not necessary to ensure the enforceability in Bermuda that a charge be
registered in Bermuda. However, although it is not necessary for a security
interest to be registered in order for it to be valid, the charge document
itself can be registered in Bermuda in the Register of Charges in accordance
with Section 55 of the Companies Act 1981 in order to ensure the priority in
Bermuda of the charge. On registration, any charge evidenced in the charging
document will have priority over any unregistered competing charge or any
subsequently registered competing charge in respect of the assets which are
the subject of the charge (i.e. the cash).
If the agreement will be governed by either Texas or New York law, it will be
a matter of the laws of either Texas or New York as to the actual nature of
the security interest which is created by the charge.
If you would like us to effect the registration of the charge, we would need
an original (or a certified true copy) of the executed document which creates
the security interest. There is no time limit on such registration.
However, please note that, in addition to our professional fees, there is a
filing fee of $446 which is payable in respect of the registration.
I trust that the above is of some assistance. If you have any questions
please do not hesitate to contact me.
Kind regards.
Chris Garrod
Christopher Garrod
Conyers Dill & Pearman
Clarendon House, 2 Church Street
Hamilton HM 11, Bermuda
Direct dial 441 299 4923
Fax: 441 292 4720
email [email protected]
>>> <[email protected]> 04/17/01 06:54PM >>>
Christopher:
We have done a trade with a Bermuda hedge fund and have negotiated
collateral provisions that may require them to post csah to us. The
agreement will be governed by either Texas or New York law. We need your
advice on how to perfect our interest in any cash posted to us that we
would hold in an account in the United States. Could you please call
either me or Sara Shackelton (713)853-5620 if possible tomorrow or you can
send me an e-mail if that is easier. I'm hoping that our possession of the
cash is enough. Sorry for the short fuse on this. If you need any
additional information, please contact me or Sara. I will be unavailable
from 9-11 and 2-3 tomorrow Houston time.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 04/18/2001
01:59 PM ---------------------------
Carol St Clair @ ECT 04/18/2001 10:37 AM
To: Caroline Abramo/Corp/Enron@Enron
cc: Paul Radous/Enron@EnronXGate, Sara Shackleton/HOU/ECT@ECT, Brent
Hendry/NA/Enron@Enron, "Chris Garrod" <[email protected]>
Subject: Revised Confirm
Enclosed are clean and marked versions of the Bermuda confirm.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected] |
Hi Vince, Scott Pleus (listed below in the director promotion section) is
bandwidth-trading backoffice person we,ve been working with. I have known
Scott from EBS since he and I started around the same time. In fact, I was
one of the first people to talk to Sally Beck about booking some of our
network positions*at which time I met Scott. I know we have discussed this
matter many times before, but this is a specific example of how people at all
functional areas are benefiting from EBS' rapid 'growth.' Scott has been at
Enron for about the same time I have been. He came from another energy
company's backoffice before that.
As for my specific situation, after our discussion yesterday, I understand
clearly what happened. It appears bad luck had a lot to do with it!!!
Thanks for looking into the promotion in the first place and I am certain
that you'll push the promotion through at the earliest convenience of the HR
folks!
Kind Regards,
Ravi.
----- Forwarded by Ravi Thuraisingham/Enron Communications on 02/08/00 09:22
AM -----
Sally Beck@ENRON
Sent by: Enron Announcements@ENRON
02/07/00 07:01 AM
To: All ENA Domestic Employees
cc:
Subject: Energy Operations Promotions
ENA Energy Operations
Sally Beck Vice President of Energy Operations
I am pleased to announce the following promotions effective February 1 within
ENA Energy Operations. These individuals have been promoted in recognition
of their outstanding performance and their contributions to the continuing
success of Enron North America. Please join me in congratulating these
employees on their promotions.
Promotions to Senior Director
Kristin Albrecht serves as Business Controller for ENA,s power business.
Along with Leslie Reeves, Kristin ensures that power transactions are handled
accurately and smoothly from beginning to end. Kristin,s primary focus is on
risk controls and daily reporting of positions and p&l for East Power
trading, West Power trading and Genco operations.
Brenda Herod serves as Business Controller for ENA,s assets business, working
with the Gas Assets group and the Texas trading desk. Her responsibilities
include global contracts and facilities, risk management, confirmations, gas
scheduling, volume management, settlements and regulatory compliance for
Houston Pipeline, LRC and Enron Midstream Services.
Leslie Reeves is a Business Controller for ENA,s power business, working
closely with Kristin Albrecht in managing mid and back office support for the
East, West and Genco power trading groups. Her primary responsibilities are
documentation and settlements, with a focus on contract administration, cash
forecasting and cash management.
Mary Solmonson leads ENA,s Global Database Management Group, collecting and
validating information on our customers, contracts, pipelines and facilities,
as well as published prices. These activities support overall Energy
Operations responsibilities from Risk to Logistics to Settlement. In
addition, Mary has been instrumental in the promotion and implementation of
the Global systems across Enron to provide control, consistency, and common
data throughout the organization.
Promotions to Director
Scott Pleus serves as Business Controller for Enron,s Emerging Products.
These businesses include Bandwidth, Pulp and Paper, and Weather. His primary
responsibilities include day-to-day functions of risk management,
confirmations, pulp and paper scheduling, and settlements as well as long
term system development.
Sheri Thomas led ENA,s natural gas off-system settlements function throughout
1999. Her responsibilities included cash forecasting, collections, and
accountability for receivables and payables for ENA,s gas business in the
East, West and Central regions of the US. Sheri accepted a new assignment in
January 2000 and is now managing the Enron Online operations.
Promotions to Manager
Bennett Kaufman manages the risk management administration function for the
Equity Trading and Debt Trading groups. He has also had experience in
supporting the options book for natural gas derivatives trading. Prior to
joining Enron in early 1998, Bennett worked in trading operations for
investment banking firms in New York.
Richard McKeel is the Systems Integration Analyst within Global Database
Management, overseeing the change management process and new software
development needed to interface the Global applications with strategic
systems ) Sitara, Unify, EnPower, Solarc, SAP, and EnronOnline.
Other Promotions
Specialist to Senior Specialist: Analyst to Specialist:
Sylvia Campos ) Deal Compliance Contract Records Tara Eslick ) Financial
Trading Risk Management
Kam Keiser ) Gas Risk Management- Central Desk Victoria Versen ) Gas
Logistics - East Desk
Phillip Love ) Risk Controls Operational Analysis
Jeff Coats ) Gas Risk Management - Central Desk
Monica Lande ) West Power Risk Management (Portland) Senior Clerk to Staff:
Trang Le ) Strategic Operations ) Project Unify
John Postlewaite ) East Power Risk Management Anthony Campos ) Deal
Compliance Contract Records
Diane Seib ) Documentation (Calgary) Kori Loibl ) Gas Risk Management -
Financial Books
Donnie Vinson ) West Power Risk Management (Portland)
Imelda Frayre ) Strategic Operations - Project Sitara
Clerk to Senior Clerk:
Staff to Specialist:
Leslie Smith ) Information & Records Management
Amy Degeyter ) Power Documentation Melinda Whalen ) Documentation (Calgary)
Michael Nguyen ) Emerging Products Risk Management
Sherlyn Schumack ) Logistics Volume Management
Karie Hastings ) Strategic Operations - Project Sitara
In addition, Peggy Hedstrom and Brent Price were promoted to Vice President,
as announced in the memo issued by Enron Corp. Office of the Chairman. Peggy
leads Energy Operations for Enron Canada, with responsibility for risk
management, documentation and gas logistics. Peggy also serves as a key
interface with Canadian pipelines as a member of several industry
committees. Brent is the Senior Business Controller for Gas Trading
Operations in the U.S. His responsibilities include risk management,
confirmations, volume management and settlements for the East, West and
Central regions. He also provides operational expertise in the due diligence
phase of the evaluations of joint ventures and acquisitions. |
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Christi,
As I have been thinking about this problem, my opposition to a standard
model is declining, partly out of frustration with the slow progress being
made. I think, however, that we ought to think about the potential
consequences of recommending a standard model. If we simply endorse PJM,
then we may inadvertently get its warts as well -- no secondary transmission
market, ICAP market, etc. I think we are considering the same thing approach
as was reported by Charles Yeung's in his note on Tuesday's Inter-RTO
Coordination (Seams) Conference:
"Harvey Reed, Constellation Power, suggested that FERC impose a standard
tariff for all RTOs to work from that did not restrict RTOs from filing
different proposals, but would limit their ability to diverge from a single
market model."
In addition to the standard model, there needs to be a deadline for either
filing the tariff or for filing the standard tariff. Without a "feet to the
fire" feature, nothing the grand stall will continue. In arguing for a
standard model, the PJM system could be the core of a proposal but we should
specific modifications to address our concerns. On the transmission rights
issue, for instance, a simple "don't allocate" solution won't work. The lack
of the secondary market for NY TCCs or PJM FTRs goes both to the lack of
information and to the way the rights are defined. If as Harvey Reed
suggests, RTOs can submit alternative approaches, at least there will be
pressure to get moving. I have not discussed this idea with West Power.
It then occurred to me that FERC is unlikely to impose a standard tariff
without a rulemaking proceeding. Whether they could act by fiat or not is a
moot point, since I doubt that they would do so without creating a record.
There are two possible down sides to a rule making. (1) The outcome of a
rulemaking is something of a crap shoot. The incumbents have a pretty good
record in the past, of coming out of rulemakings with plenty of goodies such
as the native load exemption in Order No. 888. There is a also a distinct
risk that PJM's ICAP or transmission right allocation process is given
blessed status, which will make revision of them later to be a huge uphill
battle. (2) The other consequence of a rulemaking its effect on current
RTO discussions. The best outcome is that the uncertainty of the rulemaking
creates an urgency to get a proposal filed before a new FERC rule cuts off
options from a new the standard for review. The uncertainty prior to the
issuance of Order No. 888 in fact had that effect in the West. On the other
hand it can mean that nothing happens until the new rule is issued. This
also happened prior to Order No. 888, with a number of companies sitting on
their hands, using the time delay to protect existing positions, while
whipping up State regulators' fears of jurisdictional shift as necessary to
boost their own position.
These are only own views. I have not had a chance to speak with West Power
this week, but I will approach Tim when I am in Portland again next week.
Steve
Christi L Nicolay
06/19/2001 04:21 PM
To: Steve Walton/HOU/ECT@ECT
cc: James D Steffes/NA/Enron@ENRON, Richard Shapiro/NA/Enron@Enron, Sarah
Novosel/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
Subject: Re: INTERIM MODEL TALKING POINTS
Can we focus the PJM language as an interim fix toward the East (while maybe
the threat of PJM in the West will make the West RTOs act quickly and adopt
everything that Steve W. has been advocating). Also, I agree with the ISO
being required to provide much greater information on where the congestion
occurs. While the allocation of FTRs is a problem and the idiosyncratic
nature is also a problem, it is because the traders do not have access to all
the information. They have told me that if they had access to all the
information about congestion from the past several years, they could
essentially build a model for anticipated congestion that could trade "above"
the underlying FTRs as financial instruments.
Steve Walton
06/18/2001 03:30 PM
To: James D Steffes/NA/Enron@ENRON
cc: Christi L Nicolay/HOU/ECT@ECT, Richard Shapiro/NA/Enron@Enron, Sarah
Novosel/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
Subject: Re: INTERIM MODEL TALKING POINTS
Jim,
I have added my comments to your draft. My concern with the "Adopt PJM"
approach is that it will become a fiat accompli with regard to congestion
management. and the nature of future transmission rights. Once adopted as
the standard, nothing else will be accepted and any move to a decentralized
approach is highly unlikely. Unlike the British, we have a hard time
changing horses because of our multi-jurisdictional Federal system of
government.
The PJM's lack of a secondary FTR market is more that just an allocation
problem. If that were true, they New York would have a secondary market --
none exists there either. The unpredictability of prices is probably the
biggest problem since no one knows how to value FTRs or TCCs. I think the
nature of instrument is also not particularly helpful.
During our discussion of Seabron Adamson's last draft, I maintained that a
centralized unit commitment process didn't fit the Pacific Northwest (PNW)
with its pattern of trading to achieve coordination between hydroelectric and
thermoelectric generation. You asked me to provide more detail hydro-thermal
operation. I am including a paper that covers the nature of PNW operations
and contracting with observations about the nature of unit commitment. Given
other work and travel, it has taken some time to complete the paper and its
examples. I hope this will help to explain why I am hesitant to endorse a
centralize unit commitment implementation.
Steve
James D Steffes@ENRON
06/18/2001 01:48 PM
To: Steven J Kean/NA/Enron@Enron, Richard Shapiro/NA/Enron@Enron, Christi L
Nicolay/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Steve Walton/HOU/ECT
cc:
Subject: INTERIM MODEL TALKING POINTS
Here is the draft of an Interim step for Enron to give to Lay. Please give
me your comments. This is CONFIDENTIAL and should not be shared outside the
company.
Jim |
The revision is to US Natural Gas Financial Volumes. Sorry about any inconvenience.
jr
EnronOnline
Trade Counts and Volume for May 15, 2001
EXTERNAL INTERNAL TOTAL
COUNTRY COMMODITY CATEGORY COUNT QTY COUNT QTY COUNT QTY UNIT OF MEASURE
Austria Power Physical 15 8,518 - - 15 8,518 MWh
Belgium Natural Gas Physical 3 255,000 - - 3 255,000 MMBtu
Canada Natural Gas Financial 7 4,270,000 1 155,000 8 4,425,000 MMBtu
Canada Natural Gas Financial Option 1 883,500 - - 1 883,500 MMBtu
Canada Natural Gas Physical 223 8,207,274 3 2,595,000 226 10,802,274 MMBtu
Canada Power Financial 2 3,121 1 24 3 3,145 MWh (Canada)
Germany Coal Physical 1 9 1 9 2 18 SECA Contract - Metric Tonnes
Germany Power Physical 101 679,551 - - 101 679,551 MWh
Japan Metals Physical 1 6 - - 1 6 Jpn Alum Phy 250 mt Lot
Norway Power Financial 13 281,160 - - 13 281,160 MWh
Singapore Crude Financial 1 50,000 - - 1 50,000 Barrel
Singapore Oil Products Financial 2 66,000 - - 2 66,000 Barrel
Switzerland Power Physical 15 11,361 - - 15 11,361 MWh
United Kingdom Crude Financial 3 300,000 2 50,000 5 350,000 Barrel
United Kingdom LPG Financial 2 3,000 - - 2 3,000 mt
United Kingdom Metals Financial 473 22,950 71 1,700 544 24,650 LME Registered mt Lot
United Kingdom Natural Gas Physical NBP 105 13,847,850 6 60,700 111 13,908,550 MMBtu
United Kingdom Oil Products Financial 4 60,000 - - 4 60,000 Barrel per month
United Kingdom Oil Products Financial 13 65,000 - - 13 65,000 IPE mt
United Kingdom Power Physical 13 413,280 - - 13 413,280 MWh
United Kingdom Sea Freight Financial 1 15 1 15 2 30 Sea Freight Lots
USA Crude Financial 192 8,970,000 93 3,950,000 285 12,920,000 Barrel
USA Crude Financial Option 2 100,000 6 300,000 8 400,000 Barrel
USA Crude Physical 9 973,000 - - 9 973,000 Barrel
USA Gas Pipeline Capacity Physical 3 24,200 - - 3 24,200 MMBtu
USA LPG Financial 4 65,000 1 25,000 5 90,000 Gallon
USA LPG Physical 2 10,000 - - 2 10,000 Gallon
USA Lumber Physical 1 2 - - 1 2 Thousand Board Feet
USA Natural Gas Financial 1,215 516,997,085 639 226,751,077 1,854 743,748,162 MMBtu
USA Natural Gas Financial Option 71 71,010,000 6 6,000,000 77 77,010,000 MMBTU
USA Natural Gas Physical 1,811 18,988,668 49 306,117 1,860 19,294,785 MMBtu
USA Oil Products Financial 29 768,572 - - 29 768,572 Barrel
USA Paper Physical 1 24 - - 1 24 Short Tons (+/- 5%)
USA Power Financial 52 321,905 15 176,028 67 497,933 MWh
USA Power Physical 531 6,828,054 152 2,583,915 683 9,411,969 MWh
USA Rate and Currency Financial - - 3 4,800,000 3 4,800,000 EUR/1
USA Rate and Currency Financial - - 9 784,000,000 9 784,000,000 FX USD
USA Rate and Currency Financial - - 2 1,616,000 2 1,616,000 USD/1
USA Weather Financial 4 9 - - 4 9 Cooling Degree Day
4,926 1,061 5,987 |
Notice No. 01-85
March 13, 2001
TO:
All NYMEX Division Members/Member Firms
All NYMEX Division Clearing Members
All NYMEX Division Floor Traders
All NYMEX Division Operations Managers
FROM:
George Henderson, Vice President
RE:
Options Expiration Operational Procedures for the Trading
Floor and Clearing Members
________________________________________________________________
The expiration date for the April 2001 options contract for Gasoline-Crack
(CGJ1) and Heating Oil-Crack (CHJ1) is Monday, March 19, 2001.
GENERAL OPERATIONAL PROCEDURES
All Clearing Members and Qualified Floor Traders that carried an options
position as of the close of business day prior to the expiration day, or
engaged in trading activity on Expiration Day in the expiring options
contract will be required to have a knowledgeable, duly authorized
representative present at their normal work station promptly at 5:30 p.m.
until released by the Exchange staff as specified below. All adjustments
and/or corrections, must be accompanied by relevant supporting documentation
prior to being incorporated into expiration processing, in essence making the
expiration processing an extension of the afternoon trade resolution
procedures. All input to the NYMEX Clearing Department will conclude no
later than 30 minutes after floor representatives are released.
Exchange Clearing (299-2110), Floor Trade Correction (299-2068 and 299-2169)
personnel, as well as a representative of the Floor Committee will be
available to assist with the processing of notices of Exercise and
Abandonment, position transfers, trade corrections and other questions or
problems you may have.
CLEARING DEPARTMENT OPERATIONAL PROCEDURES
The Option Expiration process is a screen based process for which all
information is provided on the screens on C21 terminals. No Option Expiration
Reports will be provided. The following screens will assist you through the
Option Expiration process:
MEMBER TRADE INQUIRY
Contains real-time top day trade information, trade information for the
previous 4 business days and trades adjusted for the previous 4 business days
by adjustment date.
SINGLE POSITION MAINTENANCE
Contains a real-time snapshot for each option series from the start of day
position to the projected end of day position.
REVIEW ACCEPT REJECT TRANSFERS
Contains all trade and position transfers "TO" your firm and the status of
each transfer.
REVIEW SUBMITTED TRANSFERS
Contains all trade and position transfer "FROM" your firm and the status of
each transfer.
EXERCISE NOTICE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to exercise.
DO NOT EXERCISE SUBMISSION
Contains your available long position and an input field to enter the number
of long positions you wish to abandon.
POSITION CHANGE SUBMISSION
PCS may be submitted either by manual input or by electronic transmission.
Any PCS input on a Clearing 21 terminal will be the input processed by the
system. This input may be made at any time prior to 6:45 p.m. Any PCS input
via transmission for that contract series will be disregarded.
ALL POSITIONS ARE DEEMED FINAL
Upon completion of all PCS input, all positions will be deemed final.
EXERCISE/ASSIGNMENT INFORMATION
Will be available to you on the Single Position Maintenance window by
contract series or the Assignment List window which contains all your
Assignments on one window. You will be notified of its availability by C21
E-Mail and by Fast Facts. This should occur within 1 hour of the last PCS
input.
All Clearing Members are required to have an authorized representative(s) at
their C21 workstations in preparation for any communication during the
expiration process.
FAST FACTS
Clearing Members should call the Fast Facts information service 301-4871,
access code 700 for event messages advising Members of the event status.
E-MAIL
Clearing Members should read their C21 E-Mail messages immediately to be
aware of event status.
The standard event Fast Facts and/or E-Mail messages and the sequence in
which they will be announced are:
Standard Event Message: Announce Out-of-the Money Exercise and In-the-Money
Do Not Exercise Submissions
Approximate Time of Message Availability: 5:45 PM
Usual Event Time: 5:45 PM
Announced via Fast Facts
Standard Event Message: Announce Final Input to C21 Cutoff Time
Approximate Time of Message Availability: 6:30 PM
Usual Event Time: 6:45 PM
Announced via e-mail
Standard Event Message: All positions are deemed final
Approximate Time of Message Availability: 7:30 PM
Usual Event Time: 6:45 PM
Announced via Fast Facts
Standard Event Message: Announce Exercise/Assignment Information Available on
the Single Position Maintenance Windows
Approximate Time of Message Availability: 8:25 PM
Usual Event Time: 8:30 PM
Announced via Fast Facts and e-mail
Standard Event Message: All Report Distribution is completed
Approximate Time of Message Availability: 11:00 PM
Usual Event Time: 11:00 PM
Announced via Fast Facts
The times appearing in the Usual Event Time column are based on normal
operational conditions and could vary.
NYMEX EXPIRATION DAY PROCESSING OVERVIEW OF MEMBER REQUIREMENTS
Time: 5:30 PM
Activity: Exercise Notice Submission
Event: Input to C21 Cutoff Time
Reference Number: 1
Time: 5:30 PM
Activity: Do Not Exercise Submission
Event: Input to C21 Cutoff Time
Reference Number: 2
Time: 5:45 PM
Activity: Announce Out-of-the-Money Exercise and In-the-Money Do Not Exercise
Submissions
Event: Fast Facts Notice
Reference Number: 3
Time: 6:30 PM
Activity: Announce Final Input to C21 Cutoff Time
Event: C21 E-mail
Reference Number: 4
Time: 6:45 PM
Activity: Final Input to C21 Cutoff Time
Reference Number: 5
Time: 7:30 PM
Activity: All Positions are Deemed Final
Event: Fast Facts Notice
Reference Number: 6
Time: 8:25 PM
Activity: Announce Exercise/Assignment Information Available on the Single
Position Maintenance Windows
Event: Fast Facts Notice and C21 E-mail
Reference Number: 7
If you have any questions concerning these procedures, please contact Charles
V. Bebel at 299-2130, Angel Rivera at 299-2150 or Anthony Di Benedetto at
299-2152 prior to the expiration date.
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&
refdoc=(01-85)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return. |
Mariella,
You are much better at this than you think. Anytime you have an idea that you'd like me to consider or any questions, feel free to bring me into the loop.
Did you notice in your e-mail that you now have an EnronOnline ID and Password? I can show you how to access it and find the quotes you need when you are ready.
Paul
P.S. Have a great weekend!!!
-----Original Message-----
From: Mahan, Mariella
Sent: Friday, September 28, 2001 1:34 PM
To: Y'Barbo, Paul
Subject: RE: Procaribe's next cargo
thanks so much teacher; I truly appreciate your feedback/thoughts. I think the Progasco thing is a good point; we shall consider it.
Thanks a lot again. Mariella
ps: sorry if I'm a bit slow on these things but I'm just now getting used to thinking on these terms.
-----Original Message-----
From: Y'Barbo, Paul
Sent: Thursday, September 27, 2001 5:06 PM
To: Mahan, Mariella
Subject: RE: Procaribe's next cargo
-----Original Message-----
From: Mahan, Mariella
Sent: Thursday, September 27, 2001 10:55 AM
To: Maltes, Miguel
Cc: Melinchon, Ermes; Y'Barbo, Paul; Tortolero, Elio; Zatarain, Brian
Subject: Procaribe's next cargo
Miguel,
As we analyze what and how to deal with your next cargo requirements, we need the following information:
- Current levels of inventory at Procaribe, broken down between your own and Eco's product - projected as of end of September (please provide basis; i.e., levels of as of the actual date that you provide data plus your projections through end of the month on withdrawals/uses)
- Projected sales volumes for the months of October, November, December and January of next year, including (and this is very critical!) the basis for your projections. I am going to be interested in looking at your assumptions for both Progasco (now Tropigas) and Empire volumes, if any.
- Please ensure that your San Juan Gas volumes have been signed off by Federico.
We need this data as soon as you can so that we can begin to look at cargo options and/or evaluate the decision to borrow from Eco.
Thanks and Regards, Mariella
Paul,
Believe it or not (yes, call me crazy!), I went home last night and continued to study the examples of hedging you were so kind to walk us through and arrived at the following conclusions, which I would like for you to correct me on and/or confirm my thought process.
- First, given the added uncertainty of Procaribe's volumes (sales) now that Progasco is owned by someone else, unless Miguel can guarantee (through some form of written agreement) that he will have Progasco's volumes, I think we should be more open to or more inclined to borrow Eco's volumes (clearly, we wouldn't do so if the curve looks awful - then it becomes an issue of cash flow vs. product pricing optimization).
[Y'Barbo, Paul]
Without the Progasco volume, it will take much longer to sell-off this cargo. The hedging would be different. If Humberto unexpectedly showed up to buy, the timing of our hedge would be off. I think we should sign-up Humberto for Nov-Dec at whatever we can get. Come January it will be a new ballgame as Empire will need to get a new contract with PDVSA. We could probably up our price at that time.
- Second, it seems to me that you wouldn't me too inclined to try to fix the cost of your product bought from, say, PDVSA, unless you are very concerned about an increasing curve (right around the 3 days surrounding the bill of lading) that will not necessarily stay long enough to keep your "sales" curve up to guarantee a margin. In fact, you would likely wait and continue to watch the curve and either not act at all or act shortly before the bill of lading dates. Now, in your May hedging example, if you actually compare the hedged vs. non-hedged results, it tells you that you were better off with a no hedge on the earlier months (month for which data on the revenue side was known and most of the curve deciding your price to PDVSA was also known). Then, my question is: why did we decide to hedge that volume when the hedge was put in place on 5/9, only a week or so before the actual bill of lading date? Do you remember what was concerning us?
[Y'Barbo, Paul]
You would hedge the purchase cost if you were going to be repaying borrowings and you liked the price you could lock-in. Also, as you say, if you were concerned that prices during your sales period would not hold their value relative to the 3-days around B/L. Yes, we missed $0.003/gallon by hedging the part of the cargo that was sold in April and early May. We were not particularly concerned about anything. Just wanted to be rid of the possibility that prices could have gone up a penny or two.
- Third, it seems to me that, on the May hedge, (the second part of the volume) someone lost big time - I could be wrong, but what I'm looking at is the fix we got (Suzanne got) in return for the floating; the fix rate was much higher than the actual MBv figures for the months of June and July (this assumes of course the Enron didn't turn around and laid off that risk on someone else). What I am trying to say is that, there appears to have been something going on with the curve on or around 5/21 that changed dramatically once actual figures were recorded. Do you remember?
[Y'Barbo, Paul]
LPG prices dropped dramatically in June going below $0.35 per gallon. Normally, no one in Enron would get hurt because Lee Jackson would have hedged himself with someone outside of the company. However, he actually left his position open and lost about $300k. That does not impact us.
- Fourth, it seems to me that your swaps were being built around a primary objective (beyond risk protection): to deliver approximately 5 cents per gallon margin to Miguel. Anytime we have that opportunity, we should grab it.
[Y'Barbo, Paul]
Yes, I want to lock the margin but if possible I like to improve it to above the $0.05.
That's all for now - - I'll keep studying this ... What I am trying to do is draw some conclusions as to the circumstances under which we will want to swap the purchase cost (it's clear to me that, most of the times, once you know what your cost is, you will try to lock in your margin by doing a swap using your revenue stream; i.e., the Mbv basis).
Thanks again for all your time and patience.
Mariella |
Today, Enron hosted a conference call to give investors a current overview of the company. Here's an update of what we discussed during the call.
We told investors that we're doing everything we can to protect their interests and to regain their confidence. Our focus remains on our credit quality, balance sheet and liquidity, which are essential for our continued success and expansion of our wholesale businesses.
It took more than a few weeks to get where we are today. Here's a snapshot of significant events that led to our current situation:
-- In hindsight, we definitely made some very bad investments in our non-core businesses over the past several years. Those include investments in Azurix, India and Brazil. They have performed far worse that we could have ever imagined when we made these investments;
-- Because of these bad investments, we've become over-leveraged as a company. The negative impact of those investments was exacerbated through the extensive use of debt capital both on and off our balance sheet;
-- We also entered into related party transactions that led to a loss of investor confidence, which has been very damaging;
-- We've been criticized for our lack of transparency and our hard-to-understand financial and operating disclosures; and
-- On top of it all, we discovered errors in our financial statements, as discussed in our 8-K filing last week, that required a restatement of previously reported earnings.
We've taken a new look at our businesses and have separated them into three areas: core businesses, non-core businesses, and businesses under review.
Core Businesses
Our core businesses remain strong and consistent sources of significant earnings and cash flows for the company. They're our competitive advantage. These include:
-- Natural gas pipeline businesses;
-- Gas and power businesses in North America and Europe;
-- Retail businesses in North America and Europe; and
-- Coal businesses in North America and Europe.
The events of the past few weeks have had a temporary negative impact on our projected fourth quarter profitability. It's too early to tell at this time what impact this might have on our operating results. We are considering these actions now so that we can quickly return to normal business in 2002.
I also remain optimistic that the actions we've taken over the past couple of weeks have addressed our customer and counterparty credit and liquidity concerns. According to our business unit leaders, we have definitely seen improvement in our counterparty relationships.
Non-Core Businesses
Our non-core businesses include our global assets group and our broadband division. We have invested more than $8 billion in these businesses, and the return from them has been dismal.
We have an aggressive program in place to exit these businesses and expect that the sale of these businesses will generate billions of dollars in cash that we can use to repay debt and reinvest in our core businesses. We already have more than $800 million in assets contracted for sale this year. They include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LNG receiving terminal in Puerto Rico; and asset sales of offshore oil and gas properties in India. The approximately $2.9 billion Portland General sale is also on target to close in late 2002 pending regulatory approvals.
Businesses Under Review
These businesses are comprised of those operations outside our power and gas wholesale businesses and include global and industrial markets. While several of these businesses have very strong future prospects, we need to determine if their capital requirements and near-term growth prospects are sufficient enough in terms of earnings and cash generation.
Reviewing our businesses this way will help determine where we need to make reductions to our work force. More information will follow as soon as it becomes available.
Credit Rating/10-Q Filing
We continue to meet regularly with credit rating agencies and believe that our liquidity enhancements and scheduled asset sales will strengthen our balance sheet and maintain our investment grade credit rating. Our current credit ratings by the three major rating agencies are as follows:
-- Moody's at Baa3 "Under Review for Further Downgrade"
-- Fitch at BBB- "Evolving Status"
-- S&P at BBB- "CreditWatch Negative"
We also discussed our existing financial vehicles, including Osprey, Marlin and Yosemite, in further detail. We told investors that we will file our 10-Q five days late due to our current activities. It will be filed on Nov. 19.
We will continue to have updates with investors over the coming weeks as well as our frequent updates with you. The full transcript of our conference call will be filed with the Securities and Exchange Commission in the next few days. It will also be posted on our web site at www.enron.com/corp/investors under "SEC Filings."
In connection with the proposed transactions, Dynegy and Enron will file a joint proxy statement/prospectus with the Securities and Exchange Commission. Investors and security holders are urged to carefully read the joint proxy statement/prospectus regarding the proposed transactions when it becomes available, because it will contain important information. Investors and security holders may obtain a free copy of the joint proxy statement/prospectus (when it is available) and other documents containing information about Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Copies of the joint proxy statement/prospectus and the SEC filings that will be incorporated by reference in the joint proxy statement/prospectus may also be obtained for free by directing a request to either: Investor Relations, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) 507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Building, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (713) 646-3302.
In addition, the identity of the persons who, under SEC rules, may be considered "participants in the solicitation" of Dynegy and Enron shareholders in connection with the proposed transactions, and any description of their direct or indirect interests, by security holdings or otherwise, are available in an SEC filing under Schedule 14A made by each of Dynegy and Enron. |
There have been a lot of emails being circulated internally about BAREP and
from BAREP. The current situation as I understand it is that ECTRIC, the
Oslo Branch of ECTRIC and ENA all plan to enter or have entered into
derivative transactions with BAREP. (I also understand that BAREP consists
of two legal entities, one that sells options and one that buys options,
although It is not clear to me how this split structure will come into play
for the transactions each of the Enron entities may be interested in
pursuing.) BAREP is prepared to sign ISDA Master Agreements with both ENA
and ECTRIC and is actively looking to start negotiations.
From a credit and legal perspective it is our preference to have only one
Enron entity enter into a master with BAREP. If ECTRIC is the entity that
will have the most contact with BAREP then it makes sense to have ECTRIC
enter into the ISDA with BAREP. To the extent that ENA would like to trade
with BAREP I would propose that ECTRIC enter into the trade directly with
BAREP and then have ECTRIC either back to back the trade to ENA or otherwise
account for the transaction back to ENA. (Pending execution of a master each
Enron entity should continue to document transactions as they have been
doing.)
If this proposal makes sense to the rest of you I will need to know if it
works from a regulatory and tax perspective.
Steve, Janine, is there any reason why ENA would not be able contact the
traders at ECTRIC to have them enter into a transaction with BAREP and then
have them back to back the transaction to ENA?
Please let me know if anyone else needs to give input into this issue or if
there are any other concerns or issues that will need to be addressed to
cover this situation.
Thank you for your help.
Brent Hendry.
Martin Rosell@ECT
10/19/2000 02:22 AM
To: Brent Hendry/NA/Enron@Enron
cc: Tanya Rohauer/HOU/ECT@ECT
Subject: ISDA Master Agreement between Enron North America and Banque de
R,escompte et de Placement (BAREP)
Can you clear such an arrangment with Tax, Trading and Documentation, I'm
happy to play along. Please don't let this issue stop you from addressing
the Barep docs matter. Thanks.
Martin
---------------------- Forwarded by Martin Rosell/OSL/ECT on 2000-10-19 09:16
---------------------------
From: Brent Hendry@ENRON on 2000-10-16 11:59 CDT
To: Martin Rosell/OSL/ECT@ECT
cc: Tanya Rohauer/HOU/ECT@ECT
Subject: ISDA Master Agreement between Enron North America and Banque de
R,escompte et de Placement (BAREP)
Martin,
I am not sure who is pushing having two master agreements with Barep. From a
legal and credit perspective it would be better to have one master in place
and if the other Enron office wants to trade with Barep we can do it through
the existing master and back to back the transaction internally. I do not
mind having the master done from here but, unless there are factors I am not
aware of, it would not make sense to split our credit with another master
from London. Tanya do you have any insight on this issue?
Let me know if you can why there is the push for two masters.
Thanks,
Brent
----- Forwarded by Brent Hendry/NA/Enron on 10/16/2000 11:56 AM -----
Martin Rosell@ECT
10/16/2000 11:52 AM
To: [email protected]
cc: Brent Hendry/NA/Enron@Enron
Subject: ISDA Master Agreement between Enron North America and Banque de
R,escompte et de Placement (BAREP)
Radia,
Thanks for your note below. Since Enron trades from different entities in
North America and Europe, I assume that we're talking about two sets of
contract, one between Enron North America Corp. ("ENA") and Barep and one
between Enron Capital & Trade Resources International Corp. ("ECTRIC") and
Barep. In order to avoid duplicating work, a way forward could be to let ENA
and Barep conclude their contract, whereupon ECTRIC and Barep largely could
replicate the terms between the former in their own ISDA master agreement.
As to the ISDA between ENA and Barep, please forward your draft documentation
to my colleague in Houston; Brent Hendry, on fax +1 713 853 3129. For your
information, ECTRIC is a Delaware-incorporated company and a wholly-owned
indirect subsidiary of Enron Corp.
Regards,
Martin Rosell
---------------------- Forwarded by Martin Rosell/OSL/ECT on 2000-10-16 18:39
---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 2000-10-16 12:34
To: [email protected]
cc: [email protected], [email protected], [email protected]
Subject: ISDA Master Agreement between Enron North America and Banque de
R,escompte et de Placement (BAREP)
Dear Mr Rosell :
I am a legal counsel in charge of the negotiation of the Master Agreements.
I refer to the last e-mails from my colleague Oriane Ch,neau addressed to
Steven
Vu in order to put an ISDA Master Agreement in place between our two
companies.
Before sending you our draft, we would be grateful if you could provide us
the
status of your company as soon as possible.
The best for us is to send our draft today or tomorrow at the latest.
Also, could you please confirm wether your fax number is well 00 47 2 310 25
50.
Should you have any questions, do not hesitate to contact me.
Thank you in advance for your reply.
Best regards,
Radia Djama
Legal counsel
Tel : 33 1 53 32 90 75
Fax : 33 1 53 32 91 21
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----- Forwarded by Jeff Dasovich/NA/Enron on 07/06/2001 07:15 PM -----
> POWER POINTS:Nevada Suffers FERC Unintended Consequences
>
> By Mark Golden
> A Dow Jones Newswires Column
>
> NEW YORK (Dow Jones)--Those who have opposed wholesale electricity price
> controls have been labeled as extreme free-market ideologues who are
> insensitive
> to the practical impacts on peoples' lives of high electricity prices.
> But the most common argument against price caps has been logical, not
> ideological: Price controls have never worked. Market participants always
> find a
> way around the rules.
> This week the Federal Energy Regulatory Commission decided that it will
> have
> to consider at its meeting next week revisions to its June 19 price
> control
> ruling. The initial price cap rule, set by the California Independent
> System
> Operator last spring, was only a few paragraphs long. Each successive
> price cap
> order has gotten longer, though effectiveness still appears out of reach.
> The
> FERC's April order was 28 pages long; the June order was 48 pages. And now
> additional rules are on call to plug the new loopholes.
> The revisions will also try to repair damage done to the market by the
> June
> order. During a spell of very hot weather Monday, Sierra Pacific Resources
> (SRP)
> subsidiary Nevada Power had to initiate limited rolling blackouts to a
> small
> number of customers for 45 minutes. The company attributed the blackouts,
> in
> part, to the new price controls.
> Sierra Pacific's chief spokesman, Paul Heagen, provided a bird's eye
> view of
> the practical realities of the FERC's new price cap regime.
> Power Points: After having a few days to look into it, can you say that
> price
> caps definitely contributed to blackouts in Nevada on Monday?
> Paul Heagen: Yes, but first let me say that all of it was unintentional.
> FERC
> was trying to do the right thing. Price caps were a noble effort to solve
> a real
> problem in California.
> But on Monday the market needed speed and clarity to function. It had
> neither,
> and that can be attributed to the price caps. Normally, in one or two
> phone
> calls we could have got what we needed. On Monday, we were five to six
> calls
> into it and still on the phone.
> Price caps are having the unintended consequence of dragging other
> states into
> the California morass. We have this artificial environment which we are
> all
> trying to sort through.
> PP: How, specifically, are the caps having this effect?
> PH: There are a couple of elements. The 10% premium for power sold to
> California is supposed to reflect concerns about credit. That 10% in an
> open
> market is no big deal, but in a constrained situation the seller will grab
> it,
> because now it's his only chance to make money.
> Also, the way this is set up, they look backwards. They determine the
> price
> after the fact. I can't think of any business in the world where you sell
> a
> product and find out later what price you sold at.
> This had a very chilling effect on people's willingness to sell.
> Normally, a
> cloud cover comes in and a utility has a little extra power to sell in the
> real-time market. Normally, those little 50-megawatt packets move pretty
> easily,
> and that's really important for maintaining reliability.
> With the price cap, utilities hunkered down. Selling at $92 wasn't worth
> the
> risk. They figured they might as well hang on in case they needed it.
> Also, we have a voluntary curtailment program that allows us to share
> savings
> with customers who agree to curtail use. If the market is, say, $500, we
> might
> pay them $250/MWh to curtail demand. But in a $92/mkt, we can offer them
> such a
> small amount of money that they stay on.
> PP: Have you talked to FERC about these problems with the price
> controls?
> PH: We've had a senior team in Washington, D.C., at the FERC since last
> week.
> Right away we saw another effect of the FERC order: It penalizes companies
> like
> ours that signed long-term supply contracts before the order because many
> of
> those deals were done at prices above the price cap.
> The biggest issue for us, is, did FERC really mean to penalize companies
> like
> us that planned ahead? It's long-term contracts that provide price
> stability.
> It's unfair to our customers to expect them to pay for long-term
> contracts
> that have been undercut by price caps. If we get into a situation where we
> have
> a little extra to sell, now we can't recover our costs.
> PP: With such high prices the past year, a lot of small, oil-fired
> turbines
> have been dusted off and put into service on time for this summer. Traders
> for
> other southwest utilities have said that all these little turbines have
> been
> very helpful when supplies got tight earlier in the year, but they weren't
> available this week because they cost more to run than the price cap. Did
> you
> see the same thing?
> PH: We have some small turbines that we put in Reno and the Lake Tahoe
> area in
> the last few months. They were supposed to provide peak power, but they
> get
> uneconomic in a hurry under the price cap scheme.
> You know, we've tried to isolate ourselves as best we could from the
> California situation and behave very independent of how California
> behaves. So
> Nevada is a great test case to see if price caps have an unintended effect
> outside of California. We were able to minimize the impact on our
> customers
> Monday, but the situation has maximized the attention of the country on
> the
> impact of price caps.
> -By Mark Golden, Dow Jones Newswires; 201-938-4604;
> [email protected]
>
> (END) DOW JONES NEWS 07-06-01
> 03:14 PM- - 03 14 PM EDT 07-06-01
> |
Start Date: 10/20/01; HourAhead hour: 24; HourAhead schedule download failed. Manual intervention required.
LOG MESSAGES:
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Maybe you guys were, but I wasn't aware that DWR was doing this. Thus, the
IOU default on the ISO grows.
Sue
Sue Mara
Enron Corp.
Tel: (415) 782-7802
Fax:(415) 782-7854
----- Forwarded by Susan J Mara/NA/Enron on 02/08/2001 11:11 AM -----
"Ronald Carroll" <[email protected]>
02/08/2001 11:05 AM
To: <[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>
cc:
Subject: Fwd: DJ Calif/Power Purchases -2: DWR Ducking Its Duty -Reliant
----- Message from "Tracey Bradley" <[email protected]> on Thu, 08 Feb
2001 09:19:53 -0600 -----
To: "Paul Fox" <[email protected]>
cc: "Andrea Settanni" <[email protected]>, "Jeffrey Watkiss"
<[email protected]>, "Ronald Carroll" <[email protected]>
Subject: DJ Calif/Power Purchases -2: DWR Ducking Its Duty -Reliant
FYI - Testimony at the court hearing yesterday revealed that the DWR is
making the California ISO cover the difference between the real-time power
DWR finds appropriately priced and what the state needs to buy to prevent
blackouts. The purchases by the ISO will then be billed to the state's three
IOUs, two of which are not paying their bills.
DJ Calif/Power Purchases -2: DWR Ducking Its Duty -Reliant
Copyright , 2001 Dow Jones & Company, Inc.
The issue came up in hearings on a lawsuit filed by the California
Independent System Operator, which runs the state's transmission grid,
against Reliant Energy (REI), which wants to be allowed not to sell power to
California if the state won't guarantee that it will be paid.
Reliant is concerned that it won't be paid for power being bought by the
ISO on the utilities' - rather than the DWR's - behalf.
"We're willing to sell to the DWR, but they're not willing to step up to
the plate," said Terry Houlihan, an attorney with Reliant. "The DWR has money
for short- and long-term power purchases. It can avoid the situation if it
does what the state Legislature said. Then there would be no need for a
restraining order."
The court issued a restraining order Tuesday night requiring Reliant to
sell power to California Wednesday, then extended the order for another day
Wednesday night.
The rapidly deteriorating creditworthiness of PG&E Corp. (PCG) unit
Pacific Gas & Electric Co. and Edison International (EIX) unit Southern
California Edison first left generators unwilling to supply power to
California in mid-December, when the U.S. Department of Energy intervened
with an emergency order requiring suppliers to deliver spare power to
California on demand.
That order was extended several times, but expired Wednesday.
Last week, the California state Legislature moved to secure the state's
power supplies by passing a bill authorizing the DWR to enter into contracts
to buy power and to finance those purchases by selling billions of dollars in
bonds.
The idea was to shift power purchases to a buyer with better credit than
the utilities. While the bill didn't make the department responsible for
covering the state's power needs, the clear message from the governor, the
Legislature and the DWR was that the department would secure the power the
utilities couldn't buy on their own.
That apparent mission might have been altered in the face of the state's
own mounting power bills, Maviglio said. The DWR has spent $40 million to $50
million a day buying power and has consumed around $750 million since it took
over the job in earnest on Jan. 17.
According to testimony at Wednesday's hearing, the DWR has left it to
the California ISO to cover the difference between the real-time, or
emergency, electricity it finds appropriately priced and what the state needs
to buy to keep the lights on.
The ISO, in turn, has been billing the state's three investor-owned
utilities for power it buys to cover the needs of their customers.
"In emergency dispatches, the DWR has not agreed to pay a certain
price," said Jim Detmers, and operations officer at the California ISO. "If
the DWR does not agree that it will pay a certain price, then it will not
procure that power. The ISO will be forced to procure it. Then the ISO will
bill the utility wherever the power is needed."
The utilities have together defaulted on hundreds of millions of dollars
in debt service obligations and power bills, and have said they would already
have run out of cash had they paid their bills on time.
The volume of power left over by the DWR wasn't known.
A spokesman for Southern California Edison said that, to date, the
utility is unaware that it's being billed for ongoing power purchases.
Pacific Gas & Electric wasn't available for comment.
The ISO normally bills for power up to 60 days after it's delivered.
The California Electricity Oversight Board, which oversees the
operations of the ISO, dismissed the generators' concerns, saying they were
threatening to withhold supply to gain leverage to force the DWR to sign
long-term contracts at high prices.
The ISO, however, indicated that credit concerns remain an issue.
"The credit issue is an ongoing problem," Detmers said. "Some generators
have indicated they would not supply California, because they are not being
paid."
Steve Fleishman, an analyst at Merrill Lynch, said California needs to
take steps to alleviate those concerns.
"In the end, there has to be a creditworthy party and someone who is
willing to pay to backstop this situation," Fleishman said.
Said Reliant President and Chief Operating Officer Joe Bob Perkins in
letter to Gov. Davis Tuesday night, "Unless an immediate change in direction
occurs, the California ISO and the Department of Water Resources have set the
stage today for a return to credit-driven blackouts in California."
The ISO argues that Reliant has contractual obligations to continue
supplying power to California.
-By Jason Leopold, Dow Jones Newswires; 310-666-9986;
mailto:[email protected](Andrew Dowell in New York contributed to
this article.)
(END) Dow Jones Newswires 08-02-01 |
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