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20 masters out or going out for signature does not make for SIGNED agreements! As I stated before, I will be asking for a recount (not by Team Swap, of course)! Marie Heard Senior Legal Specialist Enron Broadband Services Phone: (713) 853-3907 Fax: (713) 646-8537 [email protected] Tana Jones@ECT 12/05/00 03:51 PM To: Marie Heard/Enron Communications@Enron Communications cc: Susan Bailey/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Stephanie Panus/NA/Enron@Enron, Tanya Rohauer/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT Subject: Hot Off the Presses For those of you keeping track, Carrizo makes 475 master swap agreements. Conferring with Team Swap, we have at least 20 masters out or going out for sigature this week (including the 9 Merit Energy Partner masters). Unlike the media in the Presidential Election, I hesitate to call this one an early win (especially after seeing the Board in Marie's office!), but I must say, Team Swap is looking strong. ----- Forwarded by Tana Jones/HOU/ECT on 12/05/2000 03:44 PM ----- Stephanie Panus@ENRON 12/05/2000 08:39 AM To: Bob Bowen/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Andrea R Guillen/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Jarrod Cyprow/HOU/ECT@ECT, Gordon Heaney/Corp/Enron@ENRON, Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Corp/Enron@ENRON, Diane Anderson/NA/Enron@Enron, Kevin Meredith/Corp/Enron@ENRON, Scott Tackett/Corp/Enron@Enron, Celeste Cisneros/NA/Enron@Enron, William S Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Rod Nelson/LON/ECT@ECT, Tracy Ngo/PDX/ECT@ECT, John Suttle/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Wendi LeBrocq/Corp/Enron@Enron, Edward Sacks/Corp/Enron@Enron, James L Copeland/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@ENRON, Veronica Gonzalez/HOU/ECT@ECT, Jane Wilhite/NA/Enron@Enron, Paul Radous/Corp/Enron@ENRON, Mary Solmonson/HOU/ECT@ECT, Marilyn Colbert/HOU/ECT@ECT, Diane Ellstrom/HOU/ECT@ECT, Lynn E Shivers/LON/ECT@ECT, Bill D Hare/HOU/ECT@ect, Leslie Reeves/HOU/ECT@ECT, Jason Moore/HOU/ECT@ECT, Dianne Seib/CAL/ECT@ECT, Samuel Schott/HOU/ECT@ECT, Anthony Campos/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT, Frank L Davis/HOU/ECT@ECT, Carrie Southard/LON/ECT@ECT, Amber Ebow/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON, Melissa Ann Murphy/HOU/ECT@ECT, Stacey Richardson/HOU/ECT@ECT, Bridgette Anderson/Corp/Enron@ENRON, Lisa Lees/HOU/ECT@ECT, Camille Gerard/Corp/Enron@ENRON, Georgi Landau/NA/Enron@ENRON, Brent Hendry/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Samantha Boyd/NA/Enron@Enron, Robert Bruce/NA/Enron@Enron, Tana Jones/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT cc: Subject: Carrizo Oil & Gas, Inc. We have received an executed financial Master Agreement: Type of Contract: ISDA Master Agreement (Multicurrency-Cross Border) Effective Date: November 30, 2000 Enron Entity: Enron North America Corp. Counterparty: Carrizo Oil & Gas, Inc. Transactions Covered: Approved for all products with the exception of: Pulp, Lumber & Paper, Foreign Exchange Confirming Entity: Enron North America Corp. Governing Law: Texas Copies will be distributed. Stephanie Panus Enron North America Corp.
Here is the info from AA. Talk to you at 4. Thanks. DF ---------------------- Forwarded by Drew Fossum/ET&S/Enron on 01/10/2000 11:17 AM --------------------------- From: Drew Fossum 12/17/99 01:08 PM To: Maria Pavlou/ET&S/Enron@ENRON, Charlie Graham/ET&S/Enron@ENRON, Michel Nelson/ET&S/Enron@ENRON cc: George Fastuca/ET&S/Enron@ENRON, Bob Chandler/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON Subject: TW Compression Services Agreement Interesting. I'll work with MKM and Maria on getting answers to AA's questions and comments. I think we can eliminate the specific cross references between the two agreements, but is that the real problem or is AA going to choke on our execution of both agreements with the same party? (that's a tough one to wire around, if it is their real concern). Thanks. DF ---------------------- Forwarded by Drew Fossum/ET&S/Enron on 12/17/99 01:03 PM --------------------------- Heather Mueck 12/17/99 09:32 AM To: George Fastuca/ET&S/Enron@ENRON cc: Stanley Farmer/AA/Corp/Enron@Enron, Bob Chandler/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Roger Willard/AA/Corp/Enron@Enron, Drew Fossum/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON Subject: TW Compression Services Agreement George - Stan asked that I forward our comments on to you regarding the TW Compression Services Agreement and the Purchase and Sale Agreement. If you would like to discuss, we will be available early next week. Thanks. ---------------------- Forwarded by Heather Mueck/AA/Corp/Enron on 12/17/99 09:24 AM --------------------------- Stanley Farmer 11/29/99 12:44 PM To: Heather Mueck/AA/Corp/Enron@Enron cc: Subject: TW Compression Services Agreement ---------------------- Forwarded by Stanley Farmer/AA/Corp/Enron on 11/29/99 12:43 PM --------------------------- George Fastuca 11/24/99 09:06 AM To: Stanley Farmer/AA/Corp/Enron@Enron cc: Bob Chandler/ET&S/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Roger Willard/AA/Corp/Enron@Enron, Drew Fossum/ET&S/Enron@ENRON, Mary Kay Miller/ET&S/Enron@ENRON Subject: TW Compression Services Agreement Stan, attached is the latest draft of the compression services agreement related to the TW compression monetization effort. Since you've reviewed it last, nothing material has changed as you can see from the red-lined version. We would like to file for regulatory approval soon. Pls let me know if you have any questions - thanks. I'll send the updated PSA agreement in a separate Email. ---------------------- Forwarded by George Fastuca/ET&S/Enron on 11/24/99 08:58 AM --------------------------- Maria Pavlou 11/19/99 10:57 AM To: George Fastuca/ET&S/Enron@ENRON cc: Subject: TW Compression Services Agreement In case you didn't have this old message. Below is the latest draft of the Services Agreement. I will also reforward to you the latest drafts/exhibits of the Purchase and Sale Agreement. Thanks, Maria ---------------------- Forwarded by Maria Pavlou/ET&S/Enron on 11/19/99 10:56 AM --------------------------- Maria Pavlou 11/05/99 04:33 PM To: Mary Kay Miller/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, George Fastuca/ET&S/Enron@ENRON, Michel Nelson/ET&S/Enron@ENRON, Charlie Graham/ET&S/Enron@ENRON cc: Kim Wilkie/ET&S/Enron@ENRON, Donald Vignaroli/ET&S/Enron@ENRON Subject: TW Compression Services Agreement Attached is a revised redlined draft of the above-referenced Agreement which incorporates comments from regulatory and Mike Bryant with V&E. We have added a new Appendix 1 to cover the Assets subject to this Agreement rather than refer to the Exhibit in the Purchase and Sale, as well as an exclusivity provision regarding use of the Assets. We've also added a reference to the arbitration section in the event the oversight committee cannot agree to changes necessary or desirable to the assets.
---------------------- Forwarded by Audrey Robertson/ET&S/Enron on 10/26/2000 12:53 PM --------------------------- Gina Taylor 10/26/2000 11:33 AM To: Kathy Mayfield/Corp/Enron@Enron, Charla Reese/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Elyse Kalmans/Corp/Enron@ENRON, Cindy Olson/Corp/Enron@ENRON, Bobbie Power/Corp/Enron@ENRON, [email protected], Kimberly Rizzi/HOU/ECT@ECT, Brian Schaffer/Corp/Enron@ENRON, Sheila Walton/HOU/ECT@ECT, Sarah A Davis/HOU/ECT@ECT, Karen Moore/NA/Enron@ENRON, Rebecca Cole/Corp/Enron@ENRON, Jenny Rub/Corp/Enron@Enron, Mark Palmer/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron, Shanna Funkhouser/Corp/Enron@ENRON, Donald Vignaroli/ET&S/Enron@ENRON, Audrey Robertson/ET&S/Enron@ENRON, Jim Wiltfong/ET&S/Enron@ENRON, Eric Thode/Corp/Enron@ENRON, [email protected], Dana Jones/ET&S/Enron@ENRON, Robert Jones/Corp/Enron@ENRON, Cindy Stark/Corp/Enron@ENRON, Kimberly Watson/ET&S/Enron@ENRON, Jane Joyce/LON/ECT@ECT, Karen Denne/Corp/Enron@ENRON, Mary Clark/Corp/Enron@ENRON cc: Subject: Reception for Dave Schafer and Family Please join Dave and his family. Also, please forward this message to other close friends of Dave. Thanks! Gina ---------------------- Forwarded by Gina Taylor/OTS/Enron on 10/26/2000 11:04 AM --------------------------- From: Lisa Costello 10/26/2000 11:17 AM To: Wilson Barbee/HR/Corp/Enron@ENRON, Lisa Costello/NA/Enron@ENRON, Michele Denby/HR/Corp/Enron@ENRON, Wilford Dodd/HR/Corp/Enron@ENRON, Fran Fagan/OTS/Enron@ENRON, Estalee Russi/HR/Corp/Enron@ENRON, Rita Houston/HR/Corp/Enron@ENRON, Leesa Hutcherson/OTS/Enron@ENRON, Joe Jeffers/ET&S/Enron@ENRON, Miranda Southard/OTS/Enron@ENRON, Roger Sumlin/HR/Corp/Enron@ENRON, Ann Vaughn/HR/Corp/Enron@ENRON, Dick Heitman/ET&S/Enron@ENRON, Cliff McPherson/GCO/Enron@ENRON, Kristin Passmore/OTS/Enron@Enron, Laura Wilkinson/OTS/Enron@Enron, Lupi Trevino/GCO/Enron@ENRON, Gretchen Jennings/OTS/Enron@Enron, Jerry Harkreader/OTS/Enron@ENRON, Michael Goodman/OTS/Enron@ENRON, Merlyn Fance/OTS/Enron@ENRON, Alma Martinez/OTS/Enron@ENRON, Gina Taylor/OTS/Enron@Enron, Kimberly Nelson/OTS/Enron@Enron, Felicia Beal/OTS/Enron@Enron, Jorge Olivares/OTS/Enron@ENRON, Bill Cordes/ET&S/Enron@ENRON, Shelley Corman/ET&S/Enron@ENRON, Steve Hotte/Corp/Enron@ENRON, Rod Hayslett/FGT/Enron@ENRON, Stan Horton/Houston/Eott@Eott, Phil Lowry/OTS/Enron@ENRON, Danny McCarty/ET&S/Enron@Enron, Rockford Meyer/FGT/Enron@ENRON, Michael Moran/ET&S/Enron@ENRON, Julia White/ET&S/Enron@ENRON, Dana R Gibbs/HOU/ECT@ECT, James Prentice/GPGFIN/Enron@ENRON cc: Gina Taylor/OTS/Enron@Enron Subject: Reception for Dave Schafer and Family On behalf of Dave Schafer and his family, thank you for your support and concern as they deal with the loss of Genie, Dave,s wife. Your thoughtfulness and kindness have been overwhelming. On Friday, Oct. 27, from 5:00 p.m. to 8:00 p.m., please come by Dana and Robert Jones, house to visit with Dave and his family to share your condolences and a smile. Dana and Robert live at 4825 Spruce in Bellaire - 713-661-3009. To get to the Jones, from Downtown: ? Take 59 South to 610 South. ? Exit Fournance off of 610 South which will be the first exit you come to on 610 South. ? Stay on the feeder road through the light at Fournance. ? Take a right at the next light on Bissonnet. ? Stay on Bissonnet and take a left on N. Second Street - if you go to S. Rice you passed N. Second. ? Dana and Robert,s house is on the corner of Spruce and N. Second on the left. Please call me (x37681), Lisa Costello (x31819) or Shanna Funkhouser (x59386) if you need additional information. Gina
FYI on behalf of Sue Mara: Governor Gray Davis to address California energy crisis It is expected he will be speaking for about four minutes and that he will start at about 6:05 p.m. PDT. Gov. Davis is expected to deliver a five-minute speech to Californians Thursday night ? From CNN.com: April 5, 2001 Web posted at: 4:38 p.m. EDT (2038 GMT) Hena Cuevas is a CNN Correspondent based out of California. Q: What do we expect to be the main points of Governor Gray Davis' address this evening? CUEVAS: His office has said that the basic theme will be conservation. Basically, he is trying to motivate everyone to conserve. Also, we are expected to hear a stern warning involving the power situation this summer. It is expected to be a warmer than average summer. Davis e is also going to address that. We have also been told that he will make some sort of announcement and that the announcement is being kept under tight wraps; it is top secret. At this point we can,t even speculate as to what it will be. But there will be a big announcement. It is expected he will be speaking for about four minutes and that he will start at about 6:05 p.m. PDT. Q: How has the energy crisis affected the Governor's popularity? CUEVAS: The latest polls -- and these were probably around Mid-March ) show that his popularity and his approval ratings have declined. The latest poll commissioned by the Service Employees International Union shows that only 29 percent of those surveyed said that they would vote for Davis again. He, however, is trying to distance himself from this energy problem saying that it is the responsibility of the Republican lead Senate and Legislature who were the ones that passed these deregulation laws and that basically, he just got handed the problem and he is trying to solve it. There was the first ever state Democratic convention in Orange County last weekend ) Orange County has traditionally been highly Republican. Everybody there said that they supported Governor Davis and that they believe that the Democratic Party in this state will not be affected by this crisis, that they are basically trying to fix what the previous administration did. Q: What impact will the California energy crisis have on Davis, political future? CUEVAS: Davis says that it will not impact his future. He feels very confident that he has been able to send out the message that he is not responsible for this crisis and that he is doing everything in his power to fix it. One of the things that he mentioned in a press conference on Saturday is that there are already new electrical plants that are under construction that should be ready by either 2004 or 2005. He says that he is doing everything in his power to be able to solve this crisis. Again, as things worsen and as the rolling blackouts begin and continue over the summer, obviously, everybody is trying to find somebody to blame and he is in the perfect position. That is why a lot of fingers are being pointed toward him. Q: What actions has the Governor taken so far to try to avert the energy crisis? CUEVAS: One of the things that he has approved is the construction of new energy plants. Also, he is asking that private companies and other large power users be allowed to contract directly for power with generators. This is different than what the Public Utilities Commission had been arguing for. He has also put forth called the 20/20 plan that says that if you save 20 percent on your consumption of energy as compared to last summer, you will get 20 percent off your energy bill for the four summer months. He is doing everything in his power, he says, to try and avoid an even higher rate increase. However, there are a lot of people who are arguing for a higher rate and saying that would be the only way to try and stop this crisis. Q: Do you have any final thoughts to share? CUEVAS: When you go down to the consumers themselves, everyone is trying to make sure that the average resident is not the one footing the bill for the problems that are taking place at the governmental level. There seems to be a lot of frustration from both residents and businesses. There was a symposium at UCLA yesterday where the Anderson Business Forecast, a group that usually does economic forecast for the state of California, said their concern was that California would be affected in the long run. They said that those that are thinking about doing business in California might be hesitant and might look at other states that do not have this uncertainty with the energy situation and therefore, may not establish operations in California. That was one of the biggest concerns. Right now California ranks number 48 or 49 in energy consumption so it is very energy efficient and aware as far as conservation efforts. So, hopefully, by conserving they might be able to get past this summer and have a solution by the end of the year.
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 05/02/2000 01:57 PM --------------------------- Jim Dyer <[email protected]> on 05/02/2000 12:04:06 PM To: "'[email protected]'" <[email protected]> cc: Sheridan Titman <[email protected]> Subject: RE: Real Options Vince, If you take a cab, ask them to take you to the College of Business building at the corner of 21st and Speedway. The main entrance to the business school is on Speedway, across from the old gymnasium. Come in the main entrance, which has a large, glass structure, and you will be on the second floor. Go to your left and ride up the first set of escalators to the third floor. When you step off of the escalators, you'll be facing north and continue in that direction through two sets of glass doors into the northern side of the building. This is where most faculty offices are found. My office is 3.218, which is in the northwest corner of the building. If you have any problems, you should be able to ask directions from most anyone in the halls. I will look for you around 11:00 on Thursday, and will be happy to provide any other transportation that you need. Please let me know if you have any other questions. Jim -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Tuesday, May 02, 2000 9:23 AM To: [email protected] Cc: [email protected]; [email protected]; [email protected] Subject: RE: Real Options Jim, I can take a cab or get a rental car from the airport (thanks for your kind offer). I shall appreciate, however, if you could drop me off at the hotel before dinner. The time allocation for my speech is about right. I think I shall need about 90 minutes. Please let me know where we can meet on Thursday. I shall be at an off-site on Wednesday but you can reach me on my cell phone (713 410 5396) and by sending a cc message to my AOL address: [email protected]. I look forward to meeting you. Vince Jim Dyer <[email protected]> on 05/01/2000 01:42:44 PM To: "'[email protected]'" <[email protected]> cc: Sheridan Titman <[email protected]> Subject: RE: Real Options Vince, I could pick you up at the airport, or you could rent a car and come to campus. I have made tentative plans for us to go to lunch with some other faculty between 11:30 and 12:00, and then you would have some time to visit with Sheridan and perhaps with some other faculty members as well between lunch and my class. Sheridan and a guest speaker from his class, Suresh Sundaresan from Columbia, will be joining us for dinner. I could provide transportation to your hotel, and pick you up for dinner as well if you consider that to be the most convenient alternative. I will have a PC available in the classroom, with Office 2000 and windows NT. You could use powerpoint with no difficulty from that machine, if that's most convenient. You could simply email the presentation, and I would have it for you if you prefer. How much time would you like? I would like to reserve about 30 minutes at the end for a general discussion of issues related to real options, and about 30 minutes at the beginning of class for some remarks regarding the final assignment and a class evaluation by the students (which is required for all classes). At some point, we should take a brief break, so that would leave approximately 1.5 to 2 hours for your presentation if you would like that flexibility. Otherwise, I could take up the "slack". I look forward to seeing you on Thursday. Jim -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Friday, April 28, 2000 11:21 AM To: [email protected] Cc: [email protected]; [email protected] Subject: Re: Real Options Jim, I am scheduled to arrive in Austin on May 4 at 10:32 a.m. I shall be glad to join you and a group of your colleagues for lunch. I am flying back to Houston Friday morning and we can meet for dinner after the class. I shall have a Power Point presentation on my PC. I can also prepare a set of transparencies if this is more convenient for you. Vince Jim Dyer <[email protected]> on 04/27/2000 05:44:51 AM To: "'[email protected]'" <[email protected]> cc: Sheridan Titman <[email protected]> Subject: Real Options Vince, I am traveling at this time, attending a NSF meeting in Washington. However, I wanted to touch base regarding plans for your presentation in my class on real options next Thursday (May 4). As you recall, the class is from 3:30 to 6:30, and you could plan to take a significant part of that time for your presentation. Sheridan Titman has agreed to join us after his class at about 6:00 for a 30 minute "panel discussion" with the students on issues related to real options in practice.l I am not sure about your travel plans, but we would be happy to plan lunch on Thursday with several of my colleagues. I would also be delighted to be your host for dinner on Thursday night if that is convenient for you. I'll be back in my office on Monday, and will look forward to hearing from you. Jim James S. Dyer Fondren Centennial Chair in Business Department of Management Science and Information Systems CBA 5.202 The University of Texas at Austin Austin, Texas 78712-1175 Email: [email protected] Telephone: 512-471-5278 Fax: 512-471-0587
Investigators To Take Hard Look At Enron's Board Dow Jones Energy Service, 02/01/2002 Enron May Have Compromised Its Internal Inquiry, Democrats Say Bloomberg, 02/01/2002 SEC Faulted Audit Oversight for Years, Letters Show Bloomberg, 02/01/2002 Enron Partnership Investors Sue to Force Out Former Executive Bloomberg, 02/01/2002 Happiness is a hot Enron hearing: Capitol competition National Post, 02/01/2002 Enron chairman gave list of favored names to White House; Bush named two as energy regulators Associated Press Newswires, 02/01/2002 Enron Executives Using Company Jets to Attend Bankruptcy Hearings Dow Jones Business News, 02/01/2002 Agent: Lays close to selling Aspen lot Associated Press Newswires, 02/01/2002 First-of-the-month bills leave ex-Enron employees in crunch Associated Press Newswires, 02/01/2002 Enron's Cooper Keeps The Faith On Firm's Reorganization Dow Jones, 02/01/2002 POWER POINTS: Enron On The Potomac - Anything Goes! Dow Jones Energy Service, 02/01/2002 Enron's fall darkens summit Leaders at global forum fear effects of giant's collapse The Globe and Mail, 02/01/2002 Accounting profession seeks to restore trust following Enron scandal Associated Press Newswires, 02/01/2002 Enron: A House Divided Forbes.com, 02/01/2002 From Enron to Cheney to California Salon.com, 02/01/2002 Democrats hope to use Enron 'to shape the entire political environment' Associated Press Newswires, 02/01/2002 CBOT CEO: Enron Fall May Pull Trade To Formal Exchanges Dow Jones Energy Service, 02/01/2002 INDIA: Bids come in for Enron Dabhol Indian power stake. Reuters English News Service, 02/01/2002 California Gov. Davis Calls for Enron Probe; Lawmaker Calls Enron 'Robber Baron' Dow Jones Business News, 02/01/2002 Enron to auction office equipment at European HQ Associated Press Newswires, 02/01/2002 Govt. Monitors Enron Subsidiaries. Business News Americas, 02/01/2002 Enron Property & Services Files For Bankruptcy Feb. 1 Dow Jones News Service, 02/01/2002 Fund targets employee ownership Enron aside, manager says firms with ESOPs a good bet CBS.Marketwatch.com, 02/01/2002 LOU DOBBS MONEYLINE; CNNfn CNNfn: Moneyline News Hour, 01/31/2002 Andrew Sullivan's selective Enron outrage Salon.com, 02/01/2002 The Five Dumbest Things on Wall Street This Week theStreet.com, 02/01/2002 ________________________________________________________________ Investigators To Take Hard Look At Enron's Board By Judith Burns 02/01/2002 Dow Jones Energy Service (Copyright (c) 2002, Dow Jones & Company, Inc.) Of DOW JONES NEWSWIRES WASHINGTON -(Dow Jones)- Investigation into the collapse of Enron Corp. (ENRNQ) has already put its top executives and accountants in the hot seat. Now they may be joined by the company's board, which includes former Commodity Futures Trading Commission Chair Wendy Gramm, the wife of Republican U.S. Sen. Phil Gramm of Texas. Lawmakers will hear from two Enron board members next week. Congressional committees probing the matter expect testimony from William Powers, who headed an internal investigation, and Robert Jaedicke, an accounting professor and former Stanford University business school dean who is the chairman of Enron's audit committee. Audit committees were put in the spotlight by former Securities and Exchange Committee chairman Arthur Levitt. Levitt pushed through rules to require audit committees to include independent members with financial expertise and require the auditors to ask tough questions about a company's accounting. Whether Enron's audit committee failed as badly as the company did remains to be seen. The Houston energy firm filed for bankruptcy in December after announcing it had overstated financial results for nearly five years. Enron and its accountants are under investigation by Congress, federal prosecutors and the SEC. Examination of audit committee members is standard in such cases, and given her expertise in derivatives, Gramm, director of regulatory studies at the Mercatus Center at George Mason University, could get special attention. She joined Enron's board after leaving the CFTC in 1993 and serves on its audit committee. As the wife of the Phil Gramm, Gramm won't get special treatment, however, said Charles Elson, director of the Center for Corporate Governance at the University of Delaware. "She will rise or fall based on her own conduct," he said. At a minimum, Elson said Enron's audit committee should have seen "a lot of red flags raised," starting with "highly unusual" off-the-books partnerships tied to Enron's former chief financial officer Andrew Fastow. Arthur Andersen LLP, Enron's outside auditor, also acted as its internal auditor and did significant consulting work for Enron. Moreover, Elson noted, a number of Andersen executives took high-ranking positions at Enron. He said that should have prodded the board to question Andersen's independence - which is required under the strict new SEC rules - and Enron's accounting treatment, including related-party deals kept off the company's books. "You have to ask yourself what these folks were thinking," said Elson. "If they were aware of it and didn't press it, they've got some problems." W. Neil Eggleston, the attorney representing Enron's independent directors, declined to comment on their behalf. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron May Have Compromised Its Internal Inquiry, Democrats Say 2002-02-01 15:38 (New York) Washington, Feb. 1 (Bloomberg) -- Enron Corp. may have compromised its own investigation of the events leading to the energy trader's bankruptcy by appointing one of its board members to the panel, Democratic lawmakers said. As a board member, Herbert Winokur Jr. approved many of the partnerships in which Enron hid about $600 million of its debt, contributing to the largest bankruptcy in U.S. history, wrote Representatives John Dingell, senior Democrat on the House Energy and Commerce Committee, and Peter Deutsch, the lead Democrat on an investigative subcommittee. Their letter went to William Powers, dean of the University of Texas law school, who's heading the internal Enron investigating commmittee. Powers is expected to release his report this weekend and answer questions next week before two congressional committees, including House Energy and Commerce Committee. The letter shows the line of questioning the Democrats are likely to take. Dingell and Deutsch said that Winokur had knowledge of the LJM partnership and recommended that an Enron ethics policy be waived so that then-Chief Financial Officer Andrew Fastow could invest in the LJM1 and LJM2 partnerships. Fastow made $30 million from his investments in the partnerships. "Mr. Winokur is essentially investigating his own actions and approving or disapproving the resulting report,'' the lawmakers wrote. ``You can understand why disinterested observers might conclude that the report's independence, or at least the appearance of independence, has been compromised.'' The other members of Enron's internal investigating panel are Frank Savage, chief executive officer of Savage Holdings LLC, and Paulo Ferraz Pereira, executive vice president of Brazil's Group Bozano. In the letter, the lawmakers said that Winokur's position as chairman of the board of Azurix Corp., a water company created in part by Enron, cast doubt on his ability to be part of an impartial probe. Winokur sold 22,500 shares of the company to Enron for $184,275 before shareholders sued the company, saying it misled investors. -- Jeff Bliss in Washington (202) 624-1975 or [email protected]. Editor: Gettinger. SEC Faulted Audit Oversight for Years, Letters Show 2002-02-01 11:40 (New York) Washington, Feb. 1 (Bloomberg) -- Securities and Exchange Commission chief accountants pressured the accounting profession's oversight group for more than four years to strengthen safeguards intended to make sure audits are accurate, complete and objective, SEC documents show. In letters to the Public Oversight Board spanning more than four years, SEC chief accountants faulted the industry's ability to enforce audit standards and guard against conflicts of interest through "peer reviews,'' in which accounting firms check one another's systems for preventing bad audits. Then-SEC Chief Accountant Lynn Turner asked why peer reviews always gave the biggest firms good grades while the number of failed audits was growing. "We have seen more of these in the past six months than at any time during my three years,'' Turner wrote in July 2001 to oversight board Chairman Charles Bowsher. ``Why is there nothing showing up in the reports from the peer reviews regarding this increasing problem?'' Congress and the SEC are scrutinizing the accounting industry's ability to monitor audit quality and punish violations of auditing rules, as federal investigators probe auditor Arthur Andersen LLP's role in inaccurate financial statements at Enron. Documents sent by the SEC to the oversight board from 1997 to 2001 were released to Bloomberg News under the Freedom of Information Act. Enron stock tumbled 99 percent over seven weeks before the Houston energy trader filed for bankruptcy reorganization in December. The fall wiped out $26 billion in market value, wiped out 5,000 jobs and erased about $850 million in employees' 401(k) retirement investments in Enron shares. 'A Crisis First' "For anything to happen in government, there has to be a crisis first,'' former SEC accounting fellow Thomas I. Selling said, when asked whether the peer review process for auditors has become more rigorous under the SEC's prodding. ``I don't know of any profession where peer review works.'' Selling is an associate professor at Thunderbird, the American Graduate School of International Management in Glendale, Arizona. Bowsher's Public Oversight Board, a five-member body created in 1977 to monitor auditors' systems for catching audit flaws, voted yesterday for the second time to disband. The oversight board had announced on Jan. 22 that it would close to protest its exclusion from deliberations that led to a plan by SEC Chairman Harvey Pitt for creating a new body to oversee audit quality. A 'Very Difficult Time' Some audit controls, such as using computers to spot financial conflicts of interest with prospective clients, improved during four years of SEC prodding, Bowsher said. Other shortcomings continue because of resistance in the accounting industry, he said. "We were pushing on some of these issues, but we were having a very difficult time having these things improved,'' Bowsher said in an interview. Peer reviews and accounting oversight are in the forefront of debate about audit regulations in the wake of Enron's collapse. The energy trader blamed bookkeeping errors, in financial statements certified by Andersen, for the need to restate earnings going back to 1997. Still, Andersen got unqualified good marks in its latest peer review, released Jan. 2. Andersen's reviewer, Deloitte & Touche LLP, looked at 240 audits after Andersen asked its rival for tougher-than-normal scrutiny while questions swirled about Enron. Enron's audit was not among those examined. Pitt's Proposal Pitt's outline for change calls for the SEC to work with the biggest accounting firms to create a private oversight body, with funding from outside the accounting industry, to monitor and discipline auditors. Former SEC Chairman Arthur Levitt, who appointed Turner, said last week that Pitt's proposal ``needs more teeth.'' An April 1997 letter, the earliest released under the freedom of information request, questioned whether cost saving in the name of efficiency was hurting the quality of audits and producing fewer records than peer reviewers needed. "Some changes being undertaken in pursuit of operating goals, such as reducing audit hours and focusing audit objectives on increasing the perceived value of the audit to client management, may have the effect of compromising audit quality,'' wrote Michael Sutton, who was then SEC's chief accountant. He declined to comment on the letters. Peer Review In a Dec. 9, 1999, letter, Turner cited apparent lapses in peer reviews of PricewaterhouseCoopers LLP and one of its predecessors, Coopers & Lybrand LLP. A peer review of Coopers & Lybrand stated the firm had "extensive, appropriate'' policies for preventing conflicts of interest, while several cases were found in which people at the firm weren't notified about new clients with which they may have a conflict, Turner said. Pricewaterhouse wasn't taken to task in a peer review of its standards, Turner said, though the accounting firm settled SEC charges that executives and the firm's pension fund compromised its independence by holding stock in more than 70 audit clients. "We strongly recommend that the POB undertake a special review'' of possible independence violations, Turner wrote to Bowsher. A month later, in January 2000, Pricewaterhouse released a consultant's report saying 8,064 independence violations were discovered at the firm. "We did a very extensive review and put new systems in place a couple of years ago'' to alert employees about stock holdings that present a conflict of interest, Pricewaterhouse spokesman David Nestor said. The Wall Street Journal Wednesday reported Turner's comments about Pricewaterhouse and Coopers. 'A Systematic Failure' The released letters show the SEC staff often was at odds with the American Institute of Certified Public Accountants over the SEC's concern about conflicts of interest when auditing firms do consulting or other non-audit work for clients. The AICPA is the industry's professional group. Firms auditing public companies "may lack sufficient worldwide quality controls to assure their independence from audit clients,'' Turner wrote in the Dec. 9, 1999, letter. "The SEC staff has identified additional, troubling examples that suggest not only a lack of sufficient global safeguards, but also a systematic failure by professionals within certain firms to adhere to even their own firm's existing controls.'' Last year, Turner expressed disappointment that AICPA "failed to take any disciplinary actions'' in some cases where the SEC had found violations. In a Feb. 9, 2001, letter, Turner faulted the AICPA's disciplinary process for ``a lack of public accountability and reporting.'' 'Mutual Back Scratching' The SEC chief accountant said there was a perception within the industry that ``partners in large accounting firms are treated more leniently in the disciplinary process'' than other accountants. A March 20, 2001, letter expressed concern that the peer review process is little more than "mutual back scratching.'' In another letter, dated April 9, 2001, Turner said, "during the past three years, an alarming number of deficiencies and in some cases outright lack of quality controls within the accounting profession with respect to auditor's independence have been brought to the attention of the staff.'' The SEC letters span the 2000 debate over an SEC proposal to bar accounting firms from many kinds of consulting for audit clients. During the debate, accountants marshaled congressional allies to their side to beat back some of the tougher provisions. Levitt and big accounting firms reached a compromise, easing the proposed restrictions while requiring public disclosure of auditors' fees. SEC Audit Discipline Study Representative John LaFalce of New York, ranking Democrat on the House Financial Services Committee, has asked Pitt to provide SEC correspondence with the oversight board or the AICPA. LaFalce's request came after the Wall Street Journal reported that the SEC staff, under Turner, began a report on weaknesses in accounting self-regulation. Preparation of the report, which Turner said would have pointed in a different direction than Pitt's regulatory plan, stopped when Turner left the agency in August, SEC spokeswoman Christi Harlan said. The study of accounting shortcomings was a ``personal project'' of Turner and ``didn't get finished'' before he left the SEC last August, Harlan said. Because the project was ``already dead before (Pitt) came in the door,'' Harlan said there "was no reason to bring this to his attention.'' Turner now is head of the Center for Quality Financial Reporting at Colorado State University and a consultant for Bloomberg News. Levitt is a director of Bloomberg LP, the parent of Bloomberg News. - -Robert Parry and Vicky Stamas in Washington at (202) 624-1924 or [email protected] and [email protected] or (202) 624-1958, with Judy Mathewson in Washington. Editor: Arthur, Drummond Enron Partnership Investors Sue to Force Out Former Executive 2002-02-01 14:30 (New York) Wilmington, Delaware, Feb. 1 (Bloomberg) -- Investors who put at least $300 million into an Enron Corp. partnership used to cordon off debt from its books are battling in court to bar a former Enron executive from running the venture. Eleven investors in LJM2 Co-Investment LP, including Citigroup Inc. and The Travelers Indemnity Co., have sued in Delaware Chancery Court in Wilmington to remove Michael Kopper as general partner. Kopper, former head of Enron's North American division, took over in July as the partnership's head from former Enron Chief Financial Officer Andrew Fastow. The LJM2 partnership is a target of a dozen government investigations into the collapse of Enron, which filed the largest Chapter 11 bankruptcy in December. Enron's disclosure in November that Fastow made $30 million managing two off-book partnerships, including LJM2, hastened Enron's collapse. Control of more than $300 million may be at stake in the suit to remove Kopper. The court papers don't say, and lawyers on both sides declined to comment. Investors could be left with nothing if the partnership's assets are pulled into Enron's bankruptcy case, lawyers said. "Creditors are likely to make a move on anything left in this partnership in which Enron has an interest,'' said Chuck Tatelbaum, a Naples, Florida, attorney representing two Enron companies with claims against Enron in the bankruptcy case. Fastow set up dozens of private partnerships to buy and sell Enron assets. Kopper worked with Fastow at Enron to help market some of the partnerships to investors and left the company to run LJM2, according to company filings and court records. Partnership Assets Fastow formed LJM2 in 1999, and the partnership acquired energy and telecommunications assets from Enron, including an 18,000-mile fiber-optic network it bought in June 2000 in a transaction that resulted in a $67 million profit for Enron. LJM2 sold the network six months later for a $53 million profit, according to documents Enron filed with the U.S. Securities and Exchange Commission. "Mr. Fastow and Mr. Kopper are the architects of controversies that led to'' Enron's bankruptcy, Michael Goldman, a Wilmington lawyer representing the suing LJM2 limited partners, said at a Jan. 10 hearing in the case. "Mr. Kopper has interests that are in conflict with both the partnership and the limited partners,'' Goldman told Chancery Court Judge Jack B. Jacobs in seeking to bar Kopper from controlling the partnership while the case is litigated. Feb. 25 Trial Jacobs ordered Kopper on Jan. 15 to hand over the partnership's reins to turnaround specialist Jay Alix & Associates and make all "books, papers and records'' available to the firm pending a trial due to begin Feb. 25. Kopper and his lawyers didn't return calls seeking comment on the suit. In court papers, Kopper said the investors who are trying to remove him violated the partnership agreement. He said investors like Citigroup Inc.'s Citicorp and The Travelers Indemnity Co., which agreed to invest $10 million and $3.1 million in LJM2 respectively, missed a Jan. 4 deadline for providing funds owed the partnership. That included their share of a $70 million interest payment, he said. The loan is now in default, he added. The partnership agreement prevents them from banding together to force out the general partner because they defaulted on those payments, Kopper said. "We intend to continue serving as the general partner of the partnership with the goal, as always, of maximizing asset value for the partners,'' Kopper said in a Jan. 7 letter to the partners. A copy was included in the court file. Partnership Agreement Lawyers for the partners suing Kopper said in court papers that they've complied with the partnership agreement's requirements for ousting the general partner. Limited partners with a combined investment of more than 66 percent of the partnership voted to remove Kopper, the lawyers said. "Kopper has refused to acknowledge his removal and has taken numerous acts to jeopardize the partnership and the limited partners,'' Goldman said at the Jan. 10 hearing before Jacobs, according to a transcript. For example, Kopper is trying to direct defense lawyers representing LJM2 in a dozen suits in Texas state court over deals involving the partnership, Enron and other Enron-related units, Joseph McLaughlin, a New York-based lawyer representing limited partners, noted in court papers. "Plaintiffs believe that immediate removal of Michael Kopper is needed to ensure that the partnership and its limited partners receive adequate and conflict-free representation'' in the suits, McLaughlin said in the filing. Raiding Allegation Kopper also raided the partnership's accounts after learning of the bid to remove him, partners allege in court papers. The day before limited partners voted to force him out, Kopper transferred $4 million from the partnership to pay half his annual management fee though he was only owed about $70,000, the partners alleged. He also took improper steps to disqualify the partners, they said. "The limited partners, including some of the largest financial institutions in this country, want to stop the bleeding and the threats of Mr. Kopper,'' Goldman told Jacobs. Among other investors who agreed to invest in LMJ2 are the American Home Assurance Co., $22.7 million; the Arkansas Teachers Retirement System, $30 million; AIG Private Equity Portfolio, $7.2 million; the John D. and Catherine T. MacArthur Foundation, $15 million; CIBC Capital Corp., $15 million; Merrill Lynch LP Holdings Inc., $16.6 million, and RHO Fund Investors II LLC, $15 million, according to court filings. Merrill Lynch is a passive, minority investor in Bloomberg LP, the parent of Bloomberg News. --Jef Feeley in Wilmington, Delaware (302) 984-3372, or [email protected], with reporting by Loren Steffy in Dallas through the Washington newsroom (202) 984-3372. Editor: Rubin News Happiness is a hot Enron hearing: Capitol competition Brian Hutchinson National Post 02/01/2002 National Post National A01 / Front (c) National Post 2002. All Rights Reserved. A vicious rash of "Enron envy" has spread across Washington, D.C., with no fewer than 11 separate congressional committees competing for the chance to interrogate witnesses to the biggest corporate scandal in American history. Publicity-seeking politicians and their minions are battling for the spotlight; everyone wants a whack at Ken Lay. The former Enron Corp. chief is scheduled to appear before the Senate commerce committee on Monday. "This is the best committee," crowed Nu Wexler, press secretary to Ernest Hollings, chairman of the commerce committee. "I'd say that, of all the hearings, this is the big one. We've got Lay. It's his first committee [appearance], and the only one, as far as I know. It will definitely get lots of attention. Every committee wants press." Enron is the hottest story in town. Once the largest energy trader in North America, the company declared bankruptcy on Dec. 2, after a series of accounting irregularities came to light. Investigators are also looking into Enron's practice of shifting millions of dollars in debt into partnerships held by its executives, allowing the company to overstate its financial health. Some congressional workers in Washington have claimed victory for merely scheduling Enron committee inquiries ahead of their colleagues. A brief exchange published in the latest edition of The New Republic magazine reveals how nasty the competition has become. A spokesman for Jeff Bingaman, a New Mexico Senator, bragged that a committee chaired by his boss was "the first to announce we were having [an Enron-related] hearing, back on Nov. 29." This was bitterly contested by the press secretary to Bryon Dorgan, a Senator from North Dakota and chairman of the congressional subcommittee on consumer affairs. "Dorgan held the first hearing" on Dec. 18, his spokesman told the magazine. That is also incorrect. In fact, the first hearing related to the Enron bankruptcy took place on Dec. 12, under the auspices of the House financial services committee. Not only did it get a head start on the others, that committee boasted the most important witness to date: Joseph Berardino, chief executive of Arthur Andersen, the accounting firm that approved Enron's fallacious financial reports. Though he tried to deflect blame away from Andersen for the Enron disaster, Mr. Berardino admitted to "a crisis of confidence in my profession ... The accounting profession will have to reform itself." Then Congress broke for Christmas; since the holiday, Enron has become an even bigger story, with a suicide and allegations of favouritism levelled at the Bush administration. Everyone seems to have forgotten Mr. Berardino's provocative remarks. One congressional committee generating heavy interest has not even released a witness list or scheduled its Enron hearing. Yet the permanent subcommittee on investigations is on every Washington reporter's "must attend" list. Why? It has the power to subpoena Enron documents. It is also notorious for tackling juicy topics. This, after all, was the forum used by the late Senator Joseph McCarthy to conduct his anti-communist crusade. Then there are the also-rans, such as the Senate banking, housing and urban affairs committee. A complete stranger to controversy, this committee plods into the Enron fray in mid-February. "We will not be rushed," the committee's press secretary, Jesse Jacobs, said. "If there's any Enron envy out there, we don't feel it. We're in last place. Our senators are not after the limelight." No kidding. Mr. Jacobs says no Enron witnesses are scheduled to appear before the committee. Instead, members will take a "sober and historical" look at regulatory and investor protection issues. Bor-ing. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron chairman gave list of favored names to White House; Bush named two as energy regulators By MARCY GORDON AP Business Writer 02/01/2002 Associated Press Newswires Copyright 2002. The Associated Press. All Rights Reserved. WASHINGTON (AP) - A few months after the White House got a list of recommended candidates from former Enron Chairman Kenneth Lay, a friend and backer of President Bush, two of them were appointed to a federal energy commission. Lay gave the list of names to Clay Johnson, Bush's personnel director, White House spokeswoman Anne Womack said Thursday. Among the eight or so names were Pat Wood, now chairman of the Federal Energy Regulatory Commission, and Nora Brownell, a member of the commission. "It was one of many, many recommendations that he (Johnson) received" from industry executives, members of Congress and state officials, Womack said in an interview. Disclosure of Lay's recommendations to the White House last spring comes as congressional panels investigate the relationship between Houston-based Enron Corp., which filed for bankruptcy Dec. 2, and the Bush administration. The Justice Department and the Securities and Exchange Commission are investigating Enron's complex accounting and what role its auditor, Arthur Andersen, played in the Houston-based company's collapse. Andersen has acknowledged destroying Enron-related documents. A senator leading an investigation said Thursday that Enron had not cooperated in providing important information on the complex web of partnerships used by the company to conceal massive debts. The company's attorney said it doesn't have the documents sought. As head of a major campaign donor, Enron, wielding significant influence in Washington, Lay enjoyed access to top government officials of both parties. The White House has acknowledged that Lay met once privately last year with Vice President Dick Cheney, who headed a task force that formulated the administration's national energy policy. Lay disclosed the existence of the list of Enron favorites in an interview being broadcast Friday on PBS' "NOW with Bill Moyers." "I brought a list, we certainly presented a list. ... As I recall, I signed a letter which in fact had some recommendations as to people that we thought would be good (FERC) commissioners," Lay said in the interview, which was taped in May but never aired. Bush, as Texas governor, had appointed Wood in 1995 as head of the state's Public Utilities Commission. Wood has been an advocate of market-oriented regulation of utilities, a position espoused by Enron, a big, aggressive energy trader that had become a favorite of Wall Street. Bush appointed Wood as FERC chairman in August, replacing Curt Hebert. Hebert said in the PBS interview that Lay "has asked me to take certain positions but I've had those conversations with Ken Lay for a long time. And have disagreed with him for a long time." Brownell, a member of Pennsylvania's Public Utility Commission, was nominated by Bush in March. During her time on the state commission, Brownell helped oversee Pennsylvania's electricity deregulation. Lay will be the star witness next week as a blizzard of hearings by several congressional panels put the Enron collapse under intense public scrutiny. Enron officials "just simply have not cooperated" in providing the documents sought, said Sen. Byron Dorgan, D-N.D., chairman of a Senate Commerce subcommittee. "We again renew our request." An estimated 3,000 partnerships, some with names of "Star Wars" characters such as Jedi, were created by Enron, which took a 97 percent stake in each of them and brought in outside investors for the remainder. The partnerships were kept off Enron's books and helped create the accounting debacle that pushed the company into the biggest U.S. corporate bankruptcy filing ever. Dorgan said the committee had no immediate plan to subpoena the documents from the company. Robert Bennett, a Washington attorney representing Enron, said, "We have been fully cooperating with them." Bennett said the committee has asked Enron for documents that the company doesn't have and must be obtained from the partnerships or people representing them. "We are exercising enormous good faith in cooperating with that committee," the attorney said in a telephone interview. In a related dispute between Congress and the Bush administration, investigators at the General Accounting Office told the White House on Wednesday they would sue to make officials identify the industry executives, including some from Enron, who met last year with Cheney's energy task force. --- Associated Press White House Correspondent Ron Fournier contributed to this report. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron Executives Using Company Jets to Attend Bankruptcy Hearings 02/01/2002 Dow Jones Business News (Copyright (c) 2002, Dow Jones & Company, Inc.) Associated Press HOUSTON -- Since Enron Corp. filed the largest bankruptcy in history last year, the company has used its two jets for eight round-trip flights to New York where the case was filed, a spokesman said Thursday. Seven of those flights carried a total of 43 passengers to bankruptcy hearings before U.S. Bankruptcy Judge Arthur Gonzalez in New York, spokesman Mark Palmer said Thursday. The eighth flight this week transported family members of former Enron executive J. Clifford Baxter to his funeral on Wednesday in his hometown of Amityville, N.Y. Mr. Baxter, 43 years old, was found dead in his car in an affluent Houston suburb early Jan. 25. Police determined that he shot himself in the head with a .38-caliber revolver found beside him. "We have had in the past two months a total of eight round-trip flights," and the one for Mr. Baxter's family was for personal reasons, Mr. Palmer said. Some friends of the Baxter family joined that flight, including one Enron employee who was close to the family, Mr. Palmer said. Mr. Baxter resigned as Enron's vice chairman in May last year after working for the company for a decade. He was named in an August letter written by another executive, Sherron Watkins, as complaining to former chief executive Jeff Skilling about accounting practices that helped fuel the fallen energy giant's collapse last year. Mr. Palmer said before Enron (ENRNQ) filed bankruptcy Dec. 2, the company owned two jets and leased three. After the filing, the leases were canceled. Of the remaining two jets, "both are for sale and have been for sale. They haven't sold because the market for airplanes is terrible," Mr. Palmer said. Deborah DeFforge, laid off from Enron Dec. 3 after working for the company for five years, said the continued use of jets is hard to swallow when former workers are living on unemployment benefits and trying to find jobs in a tight economy. "I think just using the plane is obscene, but for that family it's not obscene," she said. "My heart goes out to that family." Copyright (c) 2002 Dow Jones & Company, Inc. All Rights Reserved. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Agent: Lays close to selling Aspen lot 02/01/2002 Associated Press Newswires Copyright 2002. The Associated Press. All Rights Reserved. ASPEN, Colo. (AP) - An undeveloped lot owned by former Enron Chairman Kenneth Lay that has been listed for $2.95 million could be sold in the next few weeks, said a real estate agent. But the asking prices of two homes owned by Lay and his wife, Linda, have been reduced, said Joshua Saslove, the broker handling the transactions. The sale of a fourth Aspen property, a cottage, is being negotiated privately, said Saslove, who wouldn't discuss any of the asking prices. Linda Lay said in an interview Monday on NBC's "Today" that she and her husband are struggling to avoid personal bankruptcy and are selling nearly everything they own. Lay, former chairman and chief executive officer of Enron, will appear before Congress next week to answer questions about the collapse of the energy giant, which is embroiled in the nation's largest ever bankruptcy. The Pitkin County assessor's office listed the taxable value of the Lays' three-bedroom Aspen cottage at about $4 million. The couple's other two homes in the glitzy resort were initially listed at $6.5 million each, but Saslove said the prices have been reduced. One is now advertised for $6.125 million, and the other for $6.15 million. Saslove said the price reductions reflect market conditions. "They (the Lays) just want to be marketing their properties realistically," he said. Lawyers suing Lay and other Enron executives claim he sold 1.8 million shares of Enron stock for $101 million from October 1998 to November 2001, though it's not clear how many of those sales were required under stock option rules. Thousands of employees with the Houston-based energy conglomerate lost their jobs, and a class-action lawsuit was recently filed by workers claiming Enron is liable for billions of dollars in losses from employee 401k accounts. Enron's downfall also has come under scrutiny in the political arena, because the company has had ties to President Bush and was one of his biggest corporate supporters. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. First-of-the-month bills leave ex-Enron employees in crunch By LISA FALKENBERG Associated Press Writer 02/01/2002 Associated Press Newswires Copyright 2002. The Associated Press. All Rights Reserved. HOUSTON (AP) - Credit card in hand, a laid-off Enron Corp. employee went to the supermarket last month to buy all the Lean Cuisine meals he could stuff in his freezer. David Hunker allows himself to eat two a day, and that's it. The 27-year-old former associate analyst said Friday he hasn't bought food since. "It's getting tougher," said Hunker, one of 4,500 Houston employees laid off in November after the energy giant's financial implosion. "I'm going to try to figure out a way to pay this month's rent, but after that, I don't know that I'll be able to pay anything else." For many laid-off Enron employees, the first-of-the-month bill collectors' harvest was even harder to face this week than it was last month. The bills are due, the money is running out. "Most of the people I know still have not found other jobs," Hunker said. "The one payment that we got from Enron pretty much runs out right about now." Rebekah Rushing, a former Enron employee who set up the Enron Ex-Employee Relief Fund, said requests for money grow even more desperate around the first of the month. "I've been getting more calls," Rushing said. "I'm hearing people who are crying on the phone for the money." Rushing said her fund has taken in about $160,000. She has handed out $100,000 so far to 80 people who have asked for her assistance in paying their mortgages, utility and food bills. Rushing, who found a job at another Houston energy firm, said she plans to give out at least 50 more checks next Thursday. She's received 400 requests for assistance. "It's really heartbreaking for me," she said. "I'm trying to help as many people as possible." Meanwhile, Hunker is perpetually pushing the resume, working the cell phone, exhausting his Rolodex of people who might know about an open job. But since November, there has been nothing, so he sits in his $1000-a-month, one-bedroom apartment in downtown Houston, trying to dig his way out of a financial hole that just gets deeper. His apartment complex has offered to restructure leases, but it won't reduce rent. He's considered moving out, but the lease termination fee is almost as much as rent and he hasn't gotten an unemployment check because he moved from a different state just two months before he lost his job. There are options, but they're not desirable for the 27-year-old who thought Enron was the key to a successful career. "We've talked about all trying to move in together," Hunker said of his former colleagues. "Trying to fit another person in my one bedroom apartment may be kind of tough, but it may be what we have to do." Sylvia Brooks, president of the Houston Area Urban League, which is helping ex-Enron employees find jobs, deal with bill collectors, and in some cases just vent about their situation, says some, but not any, mortgage companies have agreed to extend payment deadlines for ex-Enron employees. "It's done every day. We work out deals," she said. "The companies are flexible. They're responding to layoffs. We've experienced this before so many of the companies know how to respond." But even understanding companies won't wait longer than two months, Brooks said. "The bottom line is that they're businesses and they're looking for their payment," she said. Houston utility Reliant Energy, Inc. doesn't have a special plan to help displaced Enron employees pay their utility bills, said spokesman Richard Wheatly. "We do have normal policies and procedures that can be looked at on a case-by-case basis, as we do with all customers," Wheatly said. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron's Cooper Keeps The Faith On Firm's Reorganization 2002-02-01 16:00 (New York) By Christina Cheddar and Kathy Chu Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--In his first public appearance as Enron Corp.'s new chief executive, Stephen Cooper spoke in the firm tones that lived up to his reputation as a no-nonsense kind of guy. "I do not see this as a liquidation," he said, adding that his view historically has been that creditors receive more cents on dollar when a company reorganizes than when it liquidates. "Regardless of how effectively you run that liquidation ... there is a patina of distress," Cooper said. "People will attempt to put you over a barrel." By Cooper's account, Enron will emerge as a smaller company, one without the powerful energy trading operation that became its identity. But a survivor, nonetheless. His task now is to move in and organize. But while Cooper is keeping the faith that Enron will be able to reorganize, creditors appear to be losing their confidence. They wish him well, but believe that he'll have to overcome significant odds to get Enron back on its feet. "I've got the highest regard for Steve Cooper, you can't really be a bankruptcy professional and not know him or know of his reputation," said Scott Baena, an attorney at Bilzin Sumberg Dunn Baena Price & Axelrod LLP in Miami. Baena, whose firm represents a group of former Enron employees, said he believes Cooper is intent on reorganizing - even though it's too soon to know if this is possible. "For Steve Cooper, reorganization is an aspirational goal, but we don't always get what we want," Baena said. Cooper has more than 30 years' experience in leading companies through operational and financial reorganizations. He will be joined in his efforts by professionals from the restructuring consultancy, Zolfo Cooper LLC, that he helped create. That experience carries clout, and that could make a difference in the case. "I think his appointment makes it less likely that a trustee will be appointed," said Richard Tilton, a New York bankruptcy lawyer. Judge Arthur Gonzalez, who is presiding over Enron's bankruptcy, is likely to deem the appointment of an independent trustee - to take over Enron's daily operations - as excessively disruptive to already complex court proceedings, according to Tilton. It's more likely, he said, that the judge will name an examiner to probe certain aspects of fraud or misdeed in the case. To be sure, Enron's bankruptcy, the largest in U.S. history, will likely remain prominent in the public eye as long as Congress continues its numerous investigations. Turnarounds are always sensitive matters, but it is rare for the reorganizational efforts to be this public. Cooper's experience may help him make the quick decisions that will be needed to tackle the job. But creditors will be looking for results fast, according to Charlie Rhoads, a partner at the Houston office of Boyden Global Executive Search. "There is no honeymoon period because an interim CEO really falls under the role of a consultant," he said, explaining that there is less patience for results from an individual with this type of experience. On Wednesday, Cooper gave a rough outline of his plan, and in it the new Enron looked very much like old pipeline company that gave birth to the original Enron. The company would retain its gas pipelines, and would assess whether to preserve or sell the rest. The businesses that might be sold include money-losing power plants in India and Brazil, Enron's broadband assets, and the water and wastewater business that were once part of Azurix Corp. One way to do this would be to combine the assets and the liabilities of all Enron subsidiaries. This move, called a substantive consolidation, would put some creditors at a disadvantage and result in them getting paid less for their claims. With this in mind, some creditors have petitioned the court to segregate the cash flowing into one of Enron's units because they claim the parent company can't be trusted to keep accurate records and divvy up the funds among the business units. The creditors want detailed accounts of the cash flows into Enron units. Given Enron's legal structure, Cooper believes it is "highly probable" that not all creditors will be treated equally. In other words, in the end, there just might not be enough to pay off all creditors after the web of off-balance-sheet partnerships are untangled. -By Christina Cheddar, Dow Jones Newswires; 201-938-5166; [email protected] -By Kathy Chu, Dow Jones Newswires; 201-938-5392; [email protected] POWER POINTS: Enron On The Potomac - Anything Goes! By Mark Golden 02/01/2002 Dow Jones Energy Service (Copyright (c) 2002, Dow Jones & Company, Inc.) A Dow Jones Newswires Column NEW YORK (Dow Jones)-It's still too early for cherry blossoms in Washington, D.C., but at congressional hearings on Enron the silly season is in full bloom. In particular, any attempt to tie Enron and the California energy crisis of a year ago into a unifying theory on the evils of deregulation grabs big headlines. So what if there isn't an important connection? Never let the facts stand in the way of a good story, especially with so much money on the line and an election to win. At Senate Energy Committee hearings Tuesday, an energy consultant from the Northwest, Robert McCullough, made a reasonable pitch for more transparency in energy markets and for enforced disclosure of all corporations' off-balance sheet subsidiaries. But McCullough, a registered Republican in favor of electricity deregulation, supplied the Democratic Party with a plum. Almost as a side note, McCullough said that forward prices for wholesale electricity in the Northwest fell 30% when Enron filed Chapter 11 on Dec. 2. "The clear implication is that Enron may have been using its market dominance to 'set' forward prices," he surmised. The rest of McCullough's testimony was shunted aside. Outraged Senators Dianne Feinstein, D-Calif., Ron Wyden, D-Calif., and Maria Cantwell, D-Wash., demanded congressional hearings and a federal investigation into this new revelation: Nasty Enron had been manipulating the power market right up until the day it declared bankruptcy. It must have been the culprit behind the western electricity crisis a year ago! "Where there's smoke, there's fire," Cantwell said. Investigations were launched, and Wednesday's newspapers across the country ran with headlines like "Enron Witness Raises Specter of Price Fixing." Someone Tell The Traders Western energy traders, meanwhile, grunted a collective, "Huh?" The people in the market every day don't remember a price collapse like that at the time of Enron's bankruptcy filing. "What is he talking about?" asked one. If senators or their staff had bothered to look at the prices McCullough submitted with his testimony, they might have questioned his math. McCullough's data, taken from trade publisher Platt's, show power prices in Washington state for 2002 through 2004 falling from $37 a megawatt-hour before Enron's bankruptcy filing to $31/MWh 10 days later. That's a 16% drop, not a 30% drop. Platt's immediately disowned the 30% figure, as well as the consultant's explanation for the modest decline. In an interview Thursday, McCullough said his 30% figure came from confidential bids he obtained for clients, not from the Platt's prices he submitted. His bids fell from $40/MWh the week before Enron's filing to $30/MWh the week after. "The fundamental question is what happened that weekend (that Enron declared bankruptcy)," he said. "Will we know what happened more if it's 15% or 30%? I don't think so." The size of the move might not mean that much to McCullough, but this is an election year, and California Gov. Gray Davis is facing an uphill race for reelection because of his handling of the energy crisis. Though prices and blackout fears have long since receded, the state is stuck with some $50 billion in overpriced long-term contracts negotiated by his appointees. Democratic senators saw an opportunity to lay the blame for Davis' mismanagement on yet another scapegoat. First it was the merchant generators' fault, but then it turned out they charged much lower prices than California's municipal utilities. Then it was El Paso Corp. (EP), accused of withholding supply to drive up prices of natural gas. Now, it's Enron. The Democrats must deflect all blame from Davis in 2002's most important single race. What Really Happened So, why did northwest electricity prices fall even 16% at the time of Enron's bankruptcy? The price history submitted by McCullough backs up what traders have been saying for months: Enron had been seen shorting western power since last spring, making money as prices collapsed. That view was confirmed this week by the Bonneville Power Administration, the federal power marketer in the Northwest. A year ago, Enron was selling to Bonneville at an average price of $50/MWh. Later, Enron bought the power back at about $18, according to Bonneville. In October, as Enron's credit quality and survival were being severely questioned, the company ordered its traders to "flatten their books." For Enron's western traders, that meant getting out of their short positions by buying back power to reduce the risks in their portfolio. Prices rebounded for a few weeks on Enron's buying, but that stopped in early November after Enron became unable to do many more deals. The bear market for all U.S. energy markets - which has continued to this day - resumed for western power. Aside from the politics, we're talking big bucks. Several western utilities hold hundreds of millions of dollars in long-term contracts with Enron that are now way above the market. Those contracts didn't go away with Enron's bankruptcy filing. Just the opposite - they became major assets of the estate. If they hold up, the utilities will have to pay the entire difference between their contracts and the current market up front, in cash. If the utilities can prove Enron manipulated the market, they might be able to get federal energy regulators to invalidate the contracts. Even high-priced contracts signed with suppliers other than Enron - like Davis' - might be nullified based on Enron's market manipulation. As for Feinstein's rush to judge Enron as the culprit behind California's energy crisis, McCullough called that "a leap of faith." That crisis was in the spot market for power needed on a daily and hourly basis. As big as Enron was, it was never big enough to control the spot market for western electricity, which was enormous until California started buying everything under long-term contracts last summer. For all its questionable activities, Enron isn't to blame for California. The state botched deregulation under the leadership of the previous governor, Republican Pete Wilson. The Davis ignored the crisis for eight months, until after the state's two largest utilities were flat broke, and then largely botched the solution. End of story? Not a chance. McCullough is scheduled to testify Wednesday before a House committee on market power abuse. -By Mark Golden, Dow Jones Newswires; 201-938-4604; [email protected] (Bryan Lee in Washington, D.C., contributed to this column.) Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Report on Business: International Enron's fall darkens summit Leaders at global forum fear effects of giant's collapse MIRO CERNETIG 02/01/2002 The Globe and Mail Metro B1 "All material Copyright (c) Bell Globemedia Publishing Inc. and its licensors. All rights reserved." NEW YORK -- Forget the bomb squads roaming Park Avenue, the potential riots from anti-globalization protesters and the police armed with submachine guns guarding what some are calling "Davos on the Hudson." What's bothering the 3,000 businesses and political leaders brainstorming in the plush confines of the Waldorf-Astoria is the fallout from Enron Corp., the biggest bankruptcy filing in U.S. business history. Gathered in Manhattan for the World Economic Forum, this is a $25,000-(U.S.)-a-head salon for business and political titans to chew over the world's challenges. Many of the delegates are expressing fear, however, that revelations of late-night paper shredding in Houston and suspicious accounting practices are a serous blow to the stock markets they are relying on to end a near-global economic downturn. "The Enron debacle creates a crisis within the entire capital market," said Samuel DiPiazza Jr., who yesterday was named the global CEO of PricewaterhouseCoopers. "Our profession is right in the middle of that." With many market watchers predicting that more companies will falter under billions of dollars in debt not properly cited on their books, Mr. DiPiazza said business leaders have realized that transparency in accounting is one of the major challenges facing Corporate America. "I absolutely believe it's on the minds of the CEOs walking these halls," he said. To deal with the public perception that accounting firms may have too incestuous a relationship with the clients they are supposed to be auditing, Mr. DiPiazza said PricewaterhouseCoopers believes it is crucial to separate its auditing arm from its lucrative consultancy work. "We believe the perception of conflict is something we must deal with," he said. "It will not make us better accountants. But if it helps change the public perception, we think it's positive." In a sense, the Enron scandal has gone global, the business leaders say. The world economy is relying on the U.S. economy to put an end to a recession felt around the globe, and if Enron is only the tip of the iceberg of similar bookkeeping tactics, it could slow down a Wall Street recovery. Gail Fosler, chief economist of the U.S. Conference Board, said the Enron implosion, following the collapse of stocks of companies such as Xerox Corp. and Lucent Technologies Inc., definitely has the world's investors wondering where the bad news will stop. "I wouldn't call it the Enron contagion, but it does undergird the sense of risk aversion that was already in play," she said, adding that the scandal has also hurt other companies seeking to take on debt to survive hard times. "I would even say Kmart was a victim of Enron," she said, adding that there was a broad tightening of credit when the energy giant entered Chapter 11 bankruptcy protection. "This is in some way an impediment to global liquidity." For the first time in 31 years, the World Economic Forum is being held outside of Davos, a sleepy village in the Swiss Alps. It's an attempt by organizers to help New York recover from the Sept. 11 terrorist attack on the World Trade Center and throw leaders a Big Apple party: Tonight they will get to hear Paul Simon, Bono and Peter Gabriel in the Grand Ballroom of the Waldorf-Astoria. But the cozy nature of the conference has been altered by the move to Manhattan. Security is at an all-time high, with thousands of police and secret service agents in the hallways of the hotel, which is off-limits to all but registered delegates. That makes the chances of buttonholing those in attendance, from the likes of Microsoft Corp.'s Bill Gates to an artist like Bono -- something that was possible in Davos -- next to impossible. A survey of 1,161 CEOs from around the world, however, many of whom are in the boardrooms of the Waldorf-Astoria, has found that the obliteration of the World Trade Center has deflated the buoyant mood that usually marked the Davos summits. "Nearly 60 per cent [of CEOs] focus on two probabilities," said the PricewaterhouseCoopers survey. "Continuing stagnation in the global economy and the vulnerability of global supply chains." The survey found that since the Sept. 11 attacks, about half of the world's corporate leaders have laid off workers, outsourced non-core businesses and imposed travel restrictions (although not necessarily their $300-and-up rooms at the Waldorf-Astoria). The survey found that the CEOs regarded these cutbacks as long term, although they believed that budgets for research and development would be restored. Perhaps most interesting, though, is that globalization protesters, who promise major demonstrations tomorrow, appear to be getting the attention of a large number of business leaders. One-third of the CEOs surveyed said they believe the "anti-globalization movement" is a threat to their business. Another third agreed that globalization is likely to increase the gap between rich and poor countries, precisely what the protesters will be chanting in the days ahead when they begin protests on the other side of the concrete barriers around the Waldorf-Astoria. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Accounting profession seeks to restore trust following Enron scandal By SETH SUTEL AP Business Writer 02/01/2002 Associated Press Newswires Copyright 2002. The Associated Press. All Rights Reserved. NEW YORK (AP) - Stung by a collapse in public confidence following the Enron scandal, the accounting profession is taking steps to eliminate the appearance of conflicts of interest in the kinds of services they offer their audit clients. The American Institute of Certified Public Accountants, a professional group, said Friday for the first time that it would support any future proposal to impose certain limits on services accounting firms may provide to the companies they audit. The statement came a day after KPMG, one of the five major accounting firms, reversed its opposition to limits proposed two years ago, which would have prevented auditing firms from providing information technology consulting or internal audit services to the companies whose financial statements they audit. The two actions came on the heels of an announcement from the leading accounting firm, PricewaterhouseCoopers, that it would spin off its consulting business into a separate entity. The plans, which had been in the works for many months, were accelerated because of concerns that the public perception of the accounting profession was hurting because of the Enron scandal. Enron's auditor, Arthur Andersen LLP, acknowledged destroying documents and e-mails that were sought by federal and congressional investigators looking into questionable accounting practices which led to the swift collapse last fall of the energy trading giant. The non-audit consulting fees are often much more lucrative to the accounting firms than fees for auditing companies' books. For example, in 2001, The Walt Disney Co. paid PricewaterhouseCoopers $8.6 million for its auditing and $32 million for other services, according to its proxy statement. Critics contend the high fees could taint an auditor's objectivity when reviewing its client's books. On Thursday, Disney said it will not use its outside auditing firm for new consulting projects and will review those currently under way. Linda Dunbar, a spokeswoman for the AICPA, said that even though the group would support future limits on the bans that such restrictions were not the solution to the profession's problems and "would not prevent the next Enron." "Given where we are on public concerns on conflict of interest, it seems that some restrictions are necessary so that we can move on to more substantive issues," Dunbar said. Likewise, Stephen G. Butler, chairman of KPMG, called the controversy of service limits a "red herring" in a statement released Thursday, but he said the firm would now support the limits in order to move on to substantive reform of financial accounting practices. Spokesmen for PricewaterhouseCoopers and Ernst & Young, two of the other five major accounting firms, both said their firms supported the limits on information and internal auditing consulting when they were first proposed two years ago under Arthur Levitt, the former chairman of the Securities and Exchange Commission, and that their position hadn't changed. "When this was being debated two years ago we supported it then, and we support it now," Larry Parnell, a spokesman for Ernst & Young, said. "This is not a new position for us," Peter Horowitz, a spokesman for PricewaterhouseCoopers, said. "We supported those positions two years ago." A spokesman for Andersen didn't return a phone call seeking comment. The New York Times quoted an Andersen official as saying that his firm would make an announcement soon that would "substantially change the way Andersen does business." Deloitte & Touche released a statement Thursday calling the issue over the scope of services that accounting firms can offer "principally one of perception. But it is a huge perception problem." Nonetheless, the firm said "it is premature to accept or reject any proposal, whether we agree with it or not, because the effectiveness of a complete set of reforms is what ultimately needs to be assessed." Auditing firms can still provide certain non-auditing services to the firms they audit, subject to certain rules. But most accounting firms have already separated from their consulting divisions, including Andersen, whose consulting arm split off into a unit called Accenture. KPMG has spun off its consulting business, and In early 2000, Ernst & Young sold its consulting business to Cap Gemini SA, a French computer and management services company. Once PricewaterhouseCoopers' stock offering is complete, Deloitte will remain the only major accounting firm that is still united with its consulting arm. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Top Of The News Enron: A House Divided Dan Ackman, Forbes.com, 02.01.02, 9:26 AM ET "Divide and conquer" is often a winning strategy. Enron's wrinkle has long been "divide and disavow," and it seems that, for the bankrupt energy trader and its lawyers, old gambits die hard. One of the principal components of the Enron scandal was the company's practice of creating partnerships and then using them to push its assets or debts off its books. Technically this can be legal, so long as the partnerships are truly separate, which, among other things, means that outside investors control as little as 3% of the partnership equity. The myth of separation--while still strongly believed by Enron itself--is losing support among the accounting firms who have been tainted by Enron and other recent scandals. The Big Five accounting firms are coming around to the idea that providing certain consulting services to the same company it is auditing creates an inherent conflict and is bad business. Until recently, the accounting profession bitterly opposed any limits on its consulting services, beating back rule changes proposed by Arthur Levitt when he was chairman of the Securities and Exchange Commission. But the Enron taint has spread past Enron's own auditor, Arthur Andersen, and the firms are seeking to police themselves lest others--such as the SEC--do it for them. PricewaterhouseCoopers and KPMG said yesterday said they would support such proposals. Andersen itself is said to be leaning in that direction and that it will soon announce substantial changes in how it does business. The Walt Disney Co. approved of the new regime of separation yesterday when its chairman, Michael Eisner, said the company would not use its independent auditor, PricewaterhouseCoopers, for any new consulting work and would evaluate the current projects the accounting firm's consultants are currently doing for the company. Disney in 2000 paid PricewaterhouseCoopers $8.7 million in audit fees and around $32 million in non-audit fees. PricewaterhouseCoopers, for its part, said it intended to spin off its consulting arm in an IPO, which could mollify Disney and others. Arthur Andersen, in 2000, separated from its old consulting arm, now known as Accenture, after a long-running dispute between the two sides of the firm. But since then, Andersen itself has beefed up its own consulting practice. According to a report in The New York Times, just over half the $52 million it billed Enron in 2000 was for consulting. Enron, of course, has fired its auditor--as if Andersen forced Enron's hand rather than the other way around--and it appears to be clinging to its old religion at least in the early innings of the Enron investigation. Sen. Byron Dorgan (D-N.D.), accused the company yesterday of failing to provide records for thousands of Enron-backed partnerships that were long known to--and approved by-- company directors. Dorgan is chairman of the Senate Commerce subcommittee on consumer affairs, one of nine congressional panels probing Enron. A lawyer for Enron, Robert Bennett, responded to reporters, "The senator is terribly misinformed. We have been totally cooperating with the committee." Bennett added, "The senator may be operating under the misimpression that we have possession of many of these special partnership entity documents, which we don't." The documents would have to be obtained from the partnerships themselves. Instead of one subpoena, Bennett wants Dorgan to issue 3,000. In the unique dialect native to planet Enron, this stance is called cooperation. Dorgan, obviously acting without the benefit of a translator, was confused."Virtually all of these partnerships would be 97% Enron and 3% someone else," he said. "You'd certainly expect...you would have all of the records at your fingertips as a corporation." But not having the records, the right hand not knowing what the left hand was doing, was increasingly how Enron did business. The Enron board, as Dorgan pointed out, had to approve the creation of the partnerships. The chairman of that board, Kenneth Lay, is scheduled to testify before a congressional committee on Feb. 4. Bennett told reporters Lay will appear before the committee: "He's not going to plead the Fifth...Mr. Lay feels he has nothing to hide and that he's done nothing wrong and he wants to tell his story." But Bennett represents Enron, not Lay personally. Lay's lawyer in Washington, D.C., is Earl Silbert. Silbert did not return phone calls seeking comment. But don't be surprised if, on Feb. 4, there is another division in the Enron ranks. From Enron to Cheney to California Golden State politicians are on the warpath after a leaked memo reveals Kenneth Lay's instructions on how the White House should handle last year's electricity crisis. - - - - - - - - - - - - By Anthony York, Salon.com Feb. 1, 2002 \| The release of a memo from then-Enron CEO Kenneth Lay to Vice President Dick Cheney that included recommendations for how to handle the California energy crisis is encouraging the state's top politicians to call for more hearings and investigations into Enron's role. On Thursday, Gov. Gray Davis and Sen. Barbara Boxer, D-Calif., called on the Federal Energy Regulatory Commission to investigate charges of possible market manipulation by Enron and other power generators in the state. Sen. Dianne Feinstein, D-Calif., has asked Energy and Natural Resources chairman Jeff Bingaman, D-N.M., to schedule hearings on Enron's role in creating California's broken energy marketplace. "I am writing to request an additional hearing to pursue what role Enron had in the California energy crisis with respect to market manipulation and price gouging," Feinstein wrote in her letter to Bingaman. "Enron's ability to deal in complex unregulated financial derivatives in the natural gas market while controlling a tremendous share of the gas trading market, provided Enron the ability to manipulate market prices." Critics say Enron was a big part of why the California energy marketplace was fundamentally flawed in the first place. Enron argued for a separate clearinghouse for all energy trades in the state, which had little regulatory scrutiny and operated in virtual secrecy. That, consumer advocates say, helped energy producers and traders like Enron to artificially manipulate the market and gouge the utilities, who were buying the wholesale energy to deliver to their retail customers. Bill Wicker, spokesman for the Energy Committee, says the chairman has not yet set a date for those hearings, but the interest of Feinstein, as well as Democrats Maria Cantwell, of Washington, and Ron Wyden, of Oregon, in holding such hearings is a good sign they will be held soon. The Lay memo, a copy of which was leaked to the San Francisco Chronicle, refocused attention on Enron's role in the California energy crisis. Lay gave Cheney the two-page document in April, as the two met to discuss California's situation and the formation of a new national energy policy. The memo outlines Enron's priorities for a national energy plan, and includes suggestions for how to solve the state's energy problems. Critics say it illustrates just how closely the administration's final plan mirrors Enron's priorities. Sen. Barbara Boxer called the memo "a smoking gun." Eight remedies for the energy problems in California are listed in the memo, which Lay gave to Cheney on April 17, including a recommendation to give private companies the power of eminent domain to seize private property to build new power plants or transmission lines. The memo also argues strenuously against implementing price caps on wholesale energy prices -- a key issue in the California energy crisis. Instead, Enron argued, the solution to the crisis should be more deregulation, not less. That closely mirrored Cheney's public comments the day after his meeting with Lay as politicians from both parties were calling for temporary caps. "Events in California and in other parts of the country demonstrated that the benefits of competition have yet to be realized and have not yet reached consumers," the memo states. "The administration should reject any attempt to re-regulate wholesale power markets by adopting price caps." On April 18, Cheney told the Los Angeles Times, "California is looked on by many folks as a classic example of the kinds of problems that arise when you do use price caps." While the memo does not shed a tremendous amount of new light on Lay and Enron's input -- Lay met with Cheney six times as the administration was crafting its energy plan -- it underscored once again how Enron had the administration's ear at a time when California was threatened with soaring energy prices and rolling blackouts. Lay, it appears, had better access than California's highest elected officials. "Throughout the crisis, I was not allowed a private interview with the president or vice president -- even though such a talk may have helped California," Sen. Dianne Feinstein wrote in a recent editorial in the Los Angeles Times. "Something is wrong when a senator representing 35 million Californians is not able to talk personally to the president or vice president in the midst of a crisis, but executives from a company that contributed millions of campaign dollars have complete access and significant influence." Boxer is expected to confront Lay with the memo when Lay testifies before the Senate Commerce Committee on Monday. Feinstein and Boxer have directed most of their outrage at the administration for refusing to hear the pleas of Democrats and Republicans from California who begged for price caps on the state's out-of-control wholesale energy prices. The administration refused, adopting the same position as Enron -- that "price caps, even if imposed on a temporary basis, will be detrimental to power markets and will discourage private investment," in the words of the Enron memo. Eventually, new Federal Energy Regulatory Commission chairman Pat Wood acquiesced and imposed limited price caps on wholesale energy prices in the Golden State. Those caps -- along with other factors, including increased energy conservation and a cooler than expected summer out West -- led to an easing of the state's energy crisis as wholesale energy prices fell. The rising political heat, combined with Vice President Cheney's continued refusal to cooperate with the General Accounting Office's request for his notes from those energy policy meetings, is encouraging consumer advocates to up the ante. Doug Heller, from the Foundation for Taxpayer and Consumer Rights, speculates that Cheney may be refusing to cooperate with the GAO because he's trying to cover up for his buddies at Enron, who Heller says artificially manipulated California's energy market. "It seems clear now that Enron needed the ability to gouge California to keep their company going," he says. "The big question now is, did Lay ever say to Cheney, 'We're in trouble, and we need to keep this thing going in California to pay off our debts'?" Cheney has repeatedly said that he and Lay never discussed Enron's financial troubles. But Heller says the vice president's intransigence calls that into question. "I think it's legitimate to ask just what Dick Cheney is hiding," he says. Democrats hope to use Enron 'to shape the entire political environment' By DAVID ESPO AP Special Correspondent 02/01/2002 Associated Press Newswires Copyright 2002. The Associated Press. All Rights Reserved. WASHINGTON (AP) - Seated in a circle, Democratic House leaders listening intently, former employees of Enron poured out the details of their layoffs, their depleted retirement savings, their bleak financial futures. "We need help right now," said Gwendolyn Gray, once a human resources assistant at the failed energy giant. Congress may eventually provide some help. But the gathering this week in the Capitol, held before a clutch of television cameras, also underscored an effort by Democrats to gain election-year strength from the Enron debacle. "Enron has the potential to shape the entire political environment for 2002, impact other issues and reduce confidence in the Bush administration and Republicans," three prominent Democratic advisers wrote in a memo widely circulated in Congress this week. "The more people hear, the more corrosive it becomes," wrote James Carville, Stanley Greenberg and Bob Shrum. There's some risk to the strategy, since Democrats were counted among the top recipients of Enron-related campaign donations. And for their part, Republicans are taking steps to minimize any damage. President Bush has made a series of comments critical of Enron, whose former chairman, Kenneth Lay, was a longtime campaign supporter. "Corporate America must be made accountable to employees and shareholders and held to the highest standards of conduct," the president said in Tuesday night's State of the Union address. But even before the strategy memo surfaced, senior Democrats had begun making frequent mention of the bankrupt energy company, in ways designed to raise doubts about the Bush administration and GOP. "I think we are slowly Enronizing the economy, Enronizing the budget," Senate Majority Leader Tom Daschle recently told reporters, linking last year's White House-backed tax cuts to the imminent reappearance of federal budget deficits. "We are taking the same approach Enron used in sapping retirement funds and providing them to those at the very top." House Democratic Leader Dick Gephardt of Missouri mentioned Enron explicitly in the Democratic response to the State of the Union address. "If the nation's largest bankruptcy coupled with a clear example of paid political influence isn't a prime case for reform, I don't know what is," Gephardt said. "The forces aligned against this are powerful," he said. Most Democrats support legislation to reduce the role of money in politics. GOP leaders oppose it, and Democrats have long labored to depict Republicans as beholden to special interests. The polling on Enron is somewhat murky. But murky isn't all that bad for the Democrats, given that Bush's approval ratings are in the 80 percent range, and that the Sept. 11 terrorist attacks have elevated public concern about defense issues, which tend to favor Republicans. Polling also shows that Republicans gained a boost in hypothetical election matchups for Congress in the wake of last fall's terrorist attacks. But Democrats seized on a recent New York Times survey suggesting that the public sees Republicans as being more closely linked to Enron than the Democrats, 45 percent to 10 percent. Democrats have been heartened, as well, by the decision by the General Accounting Office, the congressional watchdog agency led by a Republican, to sue for records of Vice President Dick Cheney's energy task force. "I applaud GAO for standing up for the principles of the right of Congress and the people to know who helped shape the administration's energy policy," said Rep. John Dingell, D-Mich., who helped initiate the GAO investigation last April. Alongside the inquiry into the task force, a dozen congressional committees are investigating Enron. The party's ability to gain political ground, said one House Democratic leadership aide speaking on condition of anonymity, "is a question of how aggressive the Senate people are who have subpoenas." Thus far, Republicans profess little concern. "It's an issue that has to be directly addressed. The American people expect it," said Sen. Bill Frist, R-Tenn., chairman of the Senate GOP campaign committee. But with Bush scoring well in the polls, one Republican strategist said the GOP need merely "be properly outraged where outrage is warranted." Democrats may hurt themselves if they place too much stress on Enron and its ties to the Republicans, this official said - much like Republicans paid a price at the polls in 1998 when they sought to make the impeachment of President Clinton a campaign centerpiece. Yet in their memo, Carville, Greenberg and Shrum suggested how Democrats could use the Enron collapse politically. Referring to the first of two economic stimulus bills that Republicans pushed through the House last year, they wrote: "It is easy to imagine a chain of argument: an economic stimulus bill that became a corporate giveaway, including hundreds of millions more for Enron, which dodged taxes in 4 of the last 5 years." Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. CBOT CEO: Enron Fall May Pull Trade To Formal Exchanges By Jon Kamp 02/01/2002 Dow Jones Energy Service (Copyright (c) 2002, Dow Jones & Company, Inc.) Of DOW JONES NEWSWIRES CHICAGO -(Dow Jones)- The fall of Enron Corp. (ENRNQ) highlights the vulnerability of over-the-counter energy markets and could help push trade in those commodities to regulated exchanges, said David Vitale, president and chief executive of the Chicago Board of Trade. Over-the-counter energy markets have clear benefits, including increased flexibility and lower costs to participate, Vitale said, speaking late Thursday at a Chicago conference. But Enron's rapid decline and withdrawal from those markets, which it once dominated, exposed the over-the-counter markets' significant risks, he said. "Enron clearly brings proof...that those risks are real," Vitale said. "The OTC market is clearly a buyer-beware market." Natural gas contracts, like oil contracts, are already traded heavily on the New York Mercantile Exchange in addition to over-the-counter markets. But electricity contracts change hands almost exclusively in over-the-counter markets that handled, by one estimate, nearly $450 billion in trade in 2001. In an interview following the conference, Vitale said he expects more exchange-traded energy contracts to emerge following Enron's fall. Though the CBOT has no specific plans to roll out such products, it's something the exchange will explore, he said. "It's on the agenda to look at," he said. Energy traders generally managed to unwind their Enron contracts with minimal disruption, but Enron's troubles show there can be tremendous risk-management costs for over-the-counter market participants, Vitale said. With those over-the-counter market costs and risks now apparent, regulated markets, which can offer standard contracts, more liquidity and the safety net of clearing functions, appear more favorable, he said. "The expected costs of participating in the OTC markets will rise," Vitale said. "There will be a flight to quality." Any attempt to shift electricity trading to regulated markets faces significant challenges. Transmission constraints that limit the ability to move power to where it is needed most make electricity a regional product, traded in a wide array of contracts centered on major transmission "hubs" around the U.S. It would be hard to create a standard contract for that system, Vitale said. Nymex launched electricity futures five years ago, but they are almost never traded. Exchanges and energy companies are pursuing other routes, however, that could bring the risk-mitigation benefits of a regulated exchange to over-the-counter electricity markets. Nymex, for example, began offering clearing services to over-the-counter natural gas markets last November and wants to offer clearing to power traders in 2002. IntercontinentalExchange, a major Internet-based marketplace backed by several large energy-trading firms and banks, also said recently that it may expand its clearing function to cover electricity. Exchange clearinghouses protect against default - a major concern when Enron collapsed - by stepping in as counterparty to every trade. Several large energy companies, including Williams Cos. (WMB) and Mirant Corp. (MIR), have expressed interest in the idea. Not all market watchers and participants agree that Enron's problems exposed energy marketplace flaws. In a mid-January address to the Federal Reserve Bank of Chicago, Pat Wood, chairman of the Federal Energy Regulatory Commission, said Enron actually highlighted the strengths of the energy markets. While Enron created a headache for counterparties, those companies still managed to quickly eject Enron from the markets in what Wood called a show of "hateful Darwinism." That process "reaffirmed my personal faith that energy markets really worked as we want them to do, which is to reward good guys and punish bad guys," Wood said at the time. -By Jon Kamp, Dow Jones Newswires; 312-750-4129; [email protected] (Kristen McNamara in New York contributed to this article) Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. INDIA: Bids come in for Enron Dabhol Indian power stake. By Anirban Nag 02/01/2002 Reuters English News Service (C) Reuters Limited 2002. BOMBAY, Feb 1 (Reuters) - The Industrial Development Bank of India said on Friday it has received three bids for the stake held by foreign shareholders in Enron Corp's $2.9 billion Dabhol power project and the number could rise to six. "The fourth bidder is likely to submit its bid and sign a confidentiality agreement by this evening," P P Vora, chairman and managing director of the development bank, which is the lead creditor to the project, told reporters. "There are six bidders in the race and two of them have shown interest orally. All three firms which have submitted bids have signed the confidentiality agreement." He declined to name the firms, but six major companies - three foreign and three Indian - have said they are interested in bidding for the massive Dabhol plant and an adjoining LNG facility. The potential foreign bidders are Royal Dutch/Shell , European oil major TotalFinaElf and French utility Gaz de France . The possible Indian bidders are private power utilities BSES Ltd and Tata Power Company and the country's largest natural gas distributor, the Gas Authority of India Ltd . Vora said IDBI would appoint a financial firm next week to advise it on the bidding process. On Wednesday, the Industrial Development Bank of India (IDBI) kicked off the process by inviting bids for the 85 percent foreign stake in Dabhol and fixed February 7 as the last date when potential buyers could file their expressions of interest. Vora said the due diligence by the bidders would start in London on February 5 or 6. "Our aim is to finish the entire bidding and due-diligence process in the next six to eight weeks," he said. Enron, the Houston-based energy trader which filed the largest bankruptcy in U.S. history in early December, owns a 65 percent stake in Dabhol. General Electric Co and U.S.-based contractor Bechtel Corp each own 10 percent, while a provincial Indian utility, the Maharashtra State Electricity Board (MSEB) holds the remaining 15 percent. Dabhol had completed building the first phase and had nearly finished constructing the 1,444 MW second phase, when it halted work after the state electricity board fell $240 million behind in payments for power supplied. The 740 MW first phase began operating in May 1999. The facility has lain idle since June due to a dispute over the price of power between Dabhol and the plant's sole customer, the nearly bankrupt MSEB. POWER COST TO DROP Vora said the lenders, who have an exposure of nearly $1.9 billion to the project, were working on a package which would offer substantial concessions to the new buyer and subsequently lower the cost of power. Before the plant closed in June, the cost of power generated was around seven rupees per unit when the plant was running at about 30 percent of its capacity. At full capacity, the price per unit worked out to about five rupees but could be brought down to 2.70 to 2.75 rupees, according to officials. "We are considering reducing the interest on the rupee loans - currently at 16.5 percent - and an assurance from the Maharashtra government that the power generated will be bought," Vora said. The government of Maharashtra owns MSEB. But officials in IDBI told Reuters most of the loans were in foreign currency. Vora said lenders were also considering converting foreign currency debt into rupee loans and eliminating the exchange rate risk. A gradually weakening rupee had considerably increased Dabhol's debt servicing costs and raised the cost of power, with the local currency losing nearly 12 percent since May 1999, when the first phase of Dabhol's plant started generating power. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. California Gov. Davis Calls for Enron Probe; Lawmaker Calls Enron 'Robber Baron' 02/01/2002 Dow Jones Business News (Copyright (c) 2002, Dow Jones & Company, Inc.) Associated Press SACRAMENTO, Calif. -- California Gov. Gray Davis and Sen. Barbara Boxer are asking federal energy regulators to investigate possible price manipulation by Enron during the state's energy crisis. Mr. Davis sent a letter Thursday to the Federal Energy Regulatory Commission following the release of a memo from Enron officials to the White House that outlines discussions between company officials and the administration's energy task force headed by Vice President Dick Cheney. In the memo, Kenneth Lay, former chief executive of the now-bankrupt energy giant, urged Mr. Cheney to reject price caps on wholesale electricity that Mr. Davis and a host of other state officials desperately wanted. Mr. Davis has been asking FERC to probe possible price manipulation by power suppliers since August 2000. "If there is any doubt in your mind about whether an investigation is warranted, the latest revelations should answer that question," Mr. Davis wrote. Ms. Boxer, calling Enron "the first robber baron of the 21st century," called on FERC officials to make public any contacts they had with Enron officials while energy prices were skyrocketing in California. An Enron spokesman didn't immediately return a phone call from the Associated Press seeking comment. Ms. Boxer (D-Calif.) called the memo a "smoking gun" that shows how Enron helped set federal energy policy that hurt California during last year's power crisis. "We now know why Californians needlessly lost billions during the energy crisis. We know FERC did nothing to help us because the Bush administration told them not to," she said Thursday in a telephone interview. "Now I understand why we were begging for help. The cards were stacked against us for nearly a year." Mr. Lay is scheduled to appear before the Senate Commerce Committee on Monday, and Ms. Boxer said she will confront him. Sen. Dianne Feinstein (D-Calif.) said the memo shows Enron was more concerned with "escalating gas and electricity prices, from which it benefited, than in helping to fix the broken energy market." In the memo, Enron urged the administration to reject price caps on wholesale electricity and support the creation of regional transmission organizations. Enron also sought the creation of a new energy trading market that could have enriched the company's existing trading businesses. The White House conceded that parts of the memo resemble Mr. Cheney's energy plan, but said that doesn't reflect any improper influence. "The national energy policy is based on sound science," said Cheney spokeswoman Jennifer Millerwise. "Nothing in there benefits a specific company or interest group." Copyright (c) 2002 Dow Jones & Company, Inc. All Rights Reserved. Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron to auction office equipment at European HQ 02/01/2002 Associated Press Newswires Copyright 2002. The Associated Press. All Rights Reserved. LONDON (AP) - Enron Corp. is holding a sale. The contents of the bankrupt company's London offices are being auctioned off at the end of February in a sale that will be broadcast over the Internet. Bargain-hunters can choose from an array of equipment including maple and walnut conference tables and a collection of exercise equipment from the in-house gym. The three-day sale - ordered by PricewaterhouseCoopers, the administrator for Enron Europe - starts Feb. 27 at the company's European headquarters on swank Grosvenor Place. Also going on the block will be 3,000 computers, 4,000 monitors, 50 plasma televisions, the company's phone system and truckloads of office furniture. Restaurant equipment from the Enron cafeteria and artwork commissioned by the company will also be sold. Auctioneers Dovebid and Bache Treharne are running the sale. --- On the Net: http://www.dovebid.com/Auctions/AuctionDetail.asp?auctionID1182 Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Govt. Monitors Enron Subsidiaries. 02/01/2002 Business News Americas Copyright 1996 - 2002 Business News Americas (BNamericas.com) Enron America do Sul Ltda.Agencia Nacional de Energia EletricaElektro Eletricidade e Servicos S.A. Brazil's government is monitoring the local subsidiaries of bankrupt US energy company Enron, with the electricity regulator Aneel and oil regulator ANP sending regular reports to the Mines & Energy Ministry (MME), MME minister Jose Jorge said. Enron controls Sao Paulo state-based electricity distributor Elektro, and has stakes in Rio de Janeiro gas distributors Ceg and Ceg-Rio, and seven other gas distributors in the northeast region. It also owns a share in the Eletrobolt thermoelectric plant. The federal government will adopt appropriate measures if necessary, Jorge said, adding to date the situation of these companies is under control because all the Brazilian subsidiaries owe money to the parent company and not the other way round. http://www.bnamericas.com Copyright 1996 - 2001 Business News Americas (BNamericas.com). Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Enron Property & Services Files For Bankruptcy Feb. 1 By Kathy Chu 02/01/2002 Dow Jones News Service (Copyright (c) 2002, Dow Jones & Company, Inc.) Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- Another Enron Corp. (ENRNQ) unit filed for Chapter 11 bankruptcy court protection Friday, bringing the total number of bankrupt company affiliates to 39. Enron Property & Services Corp., in court documents, listed assets of $358.6 million and debts of $194 million, not including off-balance sheet and contingent obligations. The unit, a provider of real estate and services to the parent company and third parties, estimates that funds will be available for distribution to unsecured creditors. The largest creditors - MCSi Inc., Houston; SBFI Inc., New York; and Jimenez Contract Services Inc., Houston - hold contract claims of $1.7 million, $1.43 million and $1.18 million, respectively. The bankruptcy court has assigned Enron Property & Services Corp., a wholly owned unit of Enron Corp., case number 02-10464. The unit is being pledged as collateral under Enron Corp.'s credit agreements, including a debtor-in-possession financing led by J.P. Morgan Chase & Co. (JPM) and Citigroup Inc. (C). -By Kathy Chu, Dow Jones Newswires; 201-938-5392; [email protected] Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved. Fund targets employee ownership Enron aside, manager says firms with ESOPs a good bet By Craig Tolliver, CBS.MarketWatch.com Last Update: 3:47 PM ET Jan. 31, 2002 HOUSTON (CBS.MW) -- Even as the Enron debacle leads to greater scrutiny of company-stock ownership plans, one company just launched the first mutual fund to invest exclusively in companies with significant employee ownership. Headquartered in the same city as Enron, Houston-based Capstone Asset Management recently introduced the Capstone Employee Stock Ownership Fund, a no-load portfolio investing primarily in U.S. companies with broad-based employee stock ownership programs. "One of the things that really makes this an opportune time for the fund is the situation at Enron in that the notion of employee ownership has been tarnished by what happened -- but it wasn't employee ownership that was the problem," argued fund manager Dan E. Watson. So how will Watson keep from ending up with a portfolio chock full of Enrons? After starting with a field of some 600 companies that offer stock ownership to more than half of their employees, Watson hopes to cull the list down to 60 to 80 solid companies using both quantitative and bottom-up analysis. "They're very attractive in their own right, and I think that's the thing we want to emphasize, that these are good investments anyway," noted Watson. Watson said, however, that had the fund started a year ago, Enron would not have been a holding, as evidenced by its absence in the firm's other actively managed funds. Capstone, itself an employee-owned company, cited studies by various researchers suggesting that employee stock ownership leads to improved corporate performance, which could translate into improved stock market performance as well. Never a fan of funds with a gimmick, Morningstar analyst Russel Kinnel understands the case for these types of stocks but wouldn't hold out ownership as any sort of a barometer for quality. He noted that Enron is a strong example that the system isn't foolproof. "I would say that stock options are probably the most debatable part of the equation in that you can get some real dilution there. As we're talking about accounting issues, this is one where options are not counted as an expense or compensation. Obviously they should be," Kinnel observed. Top holdings in the fund include chip stocks like KLA-Tencor and Intel Biotech concern Amgen also figures prominently in the portfolio. "These are all good companies with bright earnings prospects in their own light and they have the other virtue of having motivated employees because of their ownership policies," Watson said. The ESOP Association a Washington-based trade organization comprised of companies with employee stock ownership plans, entered into an affinity agreement with Capstone to provide information about the fund to its membership. "The employee ownership community is very excited about Capstone's new Employee Stock Ownership Fund. For the first time, our nation will see that the many studies evidencing superior performance by employee-owned companies are real, not hypothetical," said association President J. Michael Keeling. The portfolio should be of particular interest to ESOP members already sold on the concept of employee ownership because it offers greater diversification to employees of member companies beyond investing in a single company, Watson said. The fund is available to anyone through Capstone Asset Management directly. The no-load fund has an initial minimum of $200, or $25 with automatic monthly investments. Annual expenses have been estimated at 1.17 percent. Craig Tolliver is the mutual funds editor for CBS.MarketWatch.com in Los Angeles. Business LOU DOBBS MONEYLINE; CNNfn Lou Dobbs, Steve Young, Kelly Wallace, Tim O`brien, Casey Wian, Christine Romans, Wolf Blitzer, Lisa Leiter 01/31/2002 CNNfn: Moneyline News Hour (c) Copyright Federal Document Clearing House. All Rights Reserved. ANNOUNCER: This is LOU DOBBS MONEYLINE, for Thursday, January 31. Here now, Lou Dobbs. *excerpt only* Turning to other news. Enron not cooperating with the United States Senate. That charge coming from Senator Byron Dorgan, one of the lawmakers leading a congressional investigation into Enron. Tim O`Brien reports from Washington -- Tim. TIM O`BRIEN, CNNfn CORRESPONDENT: Lou, it may be a sign of things to come: Not only have presumably important records been destroyed, but determining who now possess the relevant records that remain and getting them each to the appropriate congressional committees could be a logistical nightmare, even in the best of circumstances. Enron had an estimated 3,000 partnerships, some of them with names out of Star Wars, like Jedi. Well today, as you said, Senator Byron Dorgan, the chairman of a Senate commerce subcommittee on consumer affairs, said Enron officials, quote, "just simply have not cooperated." (BEGIN VIDEO CLIP) SEN. BYRON DORGAN (D), NORTH DAKOTA: These off-the-books partnerships with strange sounding names are very important in terms of us understanding what has happened. We have not, at this point, received cooperation from the corporation in getting this information. We, again, renew our request. (END VIDEO CLIP) (BEGIN VIDEO CLIP) UNIDENTIFIED MALE: This corporation resorted to a variety of legal, regulatory and accounting contortions to keep investors and the American public in the dark. It is now high time for the Congress to flip on the light and get to the bottom of the situation. (END VIDEO CLIP) O`BRIEN: Enron`s Washington lawyer, Bob Bennett, says the company doesn`t have the documents sought. Bennett says the company has been fully cooperating with the committee. He suggested that the documents may be with some of the partnerships. If so, locating them could be problematic, to say the least. Unraveling all of this is clearly going to take some time. You may recall one of the top auditors on the Enron account, David Duncan, last week refused testify, invoking his Fifth Amendment right against self- incrimination. That apparently will not happen next Monday when Ken Lay, a star witness, if not the star witness, is scheduled to testify before Dorgan`s subcommittee. Dorgan says Lay, the former CEO of Enron, has agreed to testify fully, and will not be seeking any immunity deal. And Lou, many of the executives who ran Enron will also be testifying before various committees here next week, including another former CEO, Jeff Skilling, who resigned unexpected only six months after assuming the top job. DOBBS: And whose departure seems to be the incipient point of the unraveling of Enron. Tim, thank you very much; Tim O`Brien. Andrew Sullivan's selective Enron outrage The failed energy trader didn't just spend money on politicians. It gave handily to journalists, too. But why is Sullivan most angry about the one liberal who cashed in? - - - - - - - - - - - - By Eric Boehlert, Salon.com Jan. 31, 2002 \| It took a few months, but the press has finally managed to carve out an angle about itself in the Enron debacle: a controversy-in-a-teapot focusing on conflicts of interest for the so-called Enron pundits. The pundits include a group of prominent political and economic commentators who in recent years (i.e., before former CEO Kenneth Lay replaced Osama bin Laden as Public Enemy No. 1) made their way onto Enron's payroll and received big bucks for doing very little work. Now they are being asked: How in good conscience can they comment on Enron's fall after cashing Lay's obscenely generous checks? The Enron sugar daddies include Weekly Standard editor William Kristol ($100,000), CNBC host and National Review Online columnist Lawrence Kudlow ($50,000), New York Times columnist Paul Krugman ($50,000), Weekly Standard contributing editor and Sunday Times of London columnist Irwin Stelzer (approximately $50,000) and Wall Street Journal columnist Peggy Noonan ($25,000-$50,000; apparently she cannot recall the exact sum). We're assured this is a very big deal. "The burgeoning scandal [has] replaced the war as the Beltway's reigning obsession," the Washington Post reported on Wednesday. A review of the charges makes clear that none of the Enron media players, who were all slow to cop to their Houston boondoggles, come out looking very good. But that also goes for their chief accuser, conservative columnist Andrew Sullivan. His selective prosecution raises suspicion about whether he is simply trying to right an ethical wrong or, more likely, hoping to damage one of the left's most effectively critical voices -- Paul Krugman, a former MIT economist who has landed punch after solid punch on the Bush administration over the past year. Right from the outset, Sullivan, using his daily online column, called for an "investigation" into Krugman's alleged ethical lapse. (By who, the Pundit Police? Is that run out of the Department of Justice?) He suggested Krugman and others "recuse themselves" from the Enron situation, the way Attorney General John Ashcroft did, since as a senator he received Enron contributions. According to Sullivan, the Times columnist should return his Enron money, just as Senator Hillary Clinton had returned the campaign contributions she'd received from Enron. (In Washington, contributions and paychecks are seen as one and the same.) "Disclosure is a must," wrote Sullivan. "We demand it of politicians. Why should we not demand it of the journalists who police them? If it's corrupting for politicians, why is it any less corrupting for pundits, who can exercise as much power as many Congressmen and often have more influence than individual Senators? " Yes, both politicians and the press depend on public trust, but the last time we checked pundits did not have the power to pass legislation, prosecute criminals or declare war. Nor were pundits answerable to the voters. Indeed, the level of importance granted by the media to this Enron media tempest is more proof than we need of the warped sense of self-importance such pundits have about themselves and their colleagues. The absurd levels of self-absorption are reminiscent of the time, early in George Bush's campaign, a Boston television journalist sprang a pop quiz on a befuddled W. While the cameras rolled, the reporter asked him to name several foreign leaders. Bush stumbled badly. More than a few pundits then rushed forward to defend Bush, suggesting even they wouldn't have been able to ace such a tough test. Their courage in admitting to just skimming the international news section every morning was commendable, but unlike Bush, those columnists weren't angling to become the leader of the free world. So, just what crimes did these pundits commit? Irwin Stelzer, contributing editor for the Weekly Standard and a columnist for the Sunday Times of London. To date, Stelzer still has not disclosed to readers how much he was paid to serve on an Enron advisory board that he helped organize. In a Weekly Standard piece about Enron last November, Stelzer defended the company by stressing there was "no indication that the mistakes were other than honest ones, or that investors were deliberately kept in the dark or misled about the company's finances." In that piece, Stelzer told readers about serving on the advisory board, but not that he was paid tens of thousands of dollars. This came after years of writing favorably about Enron without giving readers a hint of his financial ties to the company. Bill Kristol, editor of the Weekly Standard. Not much better than Stelzer's situation. Kristol collected $100,000 for serving two years on the same lightweight Enron advisory board while editing a weekly magazine that routinely covered energy and deregulation, policies Enron was actively trying to shape. It wasn't until Stelzer's column last November that readers were told about Kristol's Enron involvement. Just how much Kristol pocketed was revealed only later, by other publications. If there's an ethics crime for Sullivan to prosecute, it's the Weekly Standard's nonexistent conflict-of-interest guidelines. Last week, the New York Times reported that Ralph Reed, the former head of the Christian Coalition, was given a plum, $10,000-per-month consulting gig at Enron at the request of Bush strategist Karl Rove. The clear implication being that the Bush camp was trying to win over Reed as an ally by using Enron's payroll. Was a similar strategy at work with Kristol? Kristol was not known as a Bush booster -- he backed Sen. John McCain in the Republican primary. Could the board membership have been designed as a way to quietly lead him to the Bush camp? Only Enron execs know the answer to that question. Peggy Noonan, columnist for the Wall Street Journal. The conservative opinion maker outed herself last Friday; in a column critical of Enron and its culture of wealth, she informed her readers that she'd once done speechwriting for the failed Houston energy company. Like almost everyone else involved, however, Noonan had trouble coming right out and telling readers how much she pocketed. Instead, she wrote that "if memory serves," she earned between $25,000 and $50,000 for her work. But even those numbers were hard to come by -- readers had to calculate on their own the number of hours she worked (between "100 to 200 hours"), and multiply that by the rate she charged ($250) in order to get the final eye-popping invoice. Noonan then admitted the speech she wrote for Enron wasn't very good and that only portions of it were even used. Yet going by her high-end estimate of 200 hours billed, Noonan spent five weeks straight, working 40-hour work weeks, to deliver contributions that, she conceded, "weren't helpful." After initially criticizing Noonan, Sullivan reversed course, writing that he'd been "a little harsh" on her and that Noonan had been "had" and "used" by the energy giant. Some at Enron might quibble with that assessment. Lawrence Kudlow, cohost of CNBC's "America Now" and an editor for National Review Online. Kudlow earned $50,000 for a year's consulting and two speaking fees. In his National Review column on Monday, Kudlow claimed he had been "completely forthcoming with respect to my brief consulting role with Enron and the fees I received for this consulting." Not quite. Kudlow didn't reveal his generous fees until Sullivan began his Enron pundit watch. And that was after Kudlow had already written about the company without letting readers in on his Enron finances. When Kudlow finally did come clean, he explained he had been "attracted by the personable Kenneth Lay." Not Lay's checkbook, mind you, his personality. That was odd, because in his previous column Kudlow undressed the "characters" at Enron (presumably including Lay) who had "no moral fiber, no character, no courage and no corporate responsibility." Also worth noting is that it took Kudlow several months to even address Enron's Page 1 debacle. That seems like an odd oversight for somebody with the title of "financial economics editor." Did the Enron money help keep Kudlow quiet? Paul Krugman, columnist for the New York Times. This whole game of gotcha began when the New York Times, deep in a recent Enron news story, reported that Krugman had once received $50,000 to serve on Enron's now famous advisory board. Months earlier Krugman himself had informed readers about his Enron work but conveniently left out the five-figure number. Same was true when he wrote a puffy Enron piece for Fortune magazine in 1999; the advisory board was mentioned, handsome paychecks were not. (Today, Krugman is among Enron's harshest critics.) Sullivan's probably correct in his surmise that the numbers were originally left out because most Times readers, and even Fortune's white-collar readers, would probably be stunned to read about that kind of pay for two days' work. But Krugman, who cut his Enron ties when he joined the Times in order to comply with the newspaper's strict conflict-of-interest policy, flagged his association well before Enron cratered, which is more than any of the other pundits can say. By Sullivan's standards, though, Krugman's the worst of the bunch, and that's where Sullivan's partisan instincts drive his accountability crusade off the track. Rather than calling all the pundits out for not disclosing their questionable Enron paydays, Sullivan largely gives the other (conservative) commentators a pass, and zeroes in on the only liberal among them. For instance, assessing Kudlow's Enron writings, Sullivan concluded, "Since [his] pieces were harshly critical of Enron, there's no scandal." Yet no pundit this year has been as harshly critical of Enron as Krugman has, so why is his work a scandal? Applying a sort of retroactive responsibility, Sullivan accused Krugman of "absconding with $50,000 worth of dirty money from a criminal enterprise." Of course, Krugman took the money three years ago, long before Enron's problems were apparent. By contrast, Kudlow was cashing Enron checks for a speech given last August, just as the company was beginning to unravel. Sullivan patted Kristol on the back for "getting [his $100,000 payment] out in the open." In the open? Kristol pocketed twice as much as Krugman, yet the Weekly Standard still hasn't printed any details about Kristol's cushy Enron payment. Meanwhile, Sullivan accused Krugman and the New York Times of somehow trying to cover up his Enron affiliation. "Most readers of the Times would think [the $50,000 payment] is relevant," Sullivan complained. Yet how did he find out about the $50,000? He read it in the New York Times. Later, Sullivan bemoaned "vast amounts of corporate cash being handed over to journalists," and how those vast amounts "might actually give an appearance of conflict of interest for a journalist." But was Krugman a "journalist" in 1999 when Enron came calling? Over the years the economist has undoubtedly been a prodigious writer, with outlets in Fortune and Slate, among others. But to suggest Krugman was a journalist the way Noonan, Kristol, Kudlow or Stelzer are is disingenuous. In 1999 He was primarily known as a MIT professor of economics who, according to his own explanation, accepted the Enron gig based on a long tradition of high-profile economics professors cashing out at the expense of corporations. So why, after the fact, does Sullivan try to hold Krugman to a conflict-of-interest standard his future employer would insist upon? Was Krugman supposed to know in 1999 that later in the year he'd be hired by the New York Times, and therefore he shouldn't have accepted the Enron money? Krugman answered his critics by claiming he was being smeared by a "broader effort by conservatives to sling Enron muck toward their left, hoping that some of it would stick." He's onto something. Clearly, Krugman's constant flurry of punches over the last year have hit the White House in the gut a few too many times for some conservatives. And his punches hurt -- Krugman is an economist who knows his topic better than the White House does. He's also untainted by the Clinton sex scandals. (He joined the Times after those bloody battles had been fought.) And he's unusually blunt in his assessment that President Bush is either a fool or a liar for pushing his tax cut strategy. Sullivan may have inadvertently revealed his true motivation for targeting Krugman when he immediately launched another media crusade: criticizing the New York Times' "left-wing lurch" in its aggressive Enron news coverage. (Specifically, Sullivan didn't think that a poll that found a vast majority of Americans felt Republicans, not Democrats, had close ties to Enron was Page 1 material.) There is an important lesson about politics, money and power to be learned from the Enron pundit tale, but it's not necessarily the one that Sullivan is shouting about. --- The Five Dumbest Things on Wall Street This Week By George Mannes, Senior Writer, theStreet.com 02/01/2002 08:07 AM EST 5. Where Was Adam Schiff's Sage Counsel When We Needed It Most? A thousand apologies to Andersen attorney Nancy Temple, of whom we made fun last week for her small but noteworthy role in Enron's ongoing accounting debacle. As you may recall, we chided Temple's need-not-to-know behavior -- her response to an urgent email about whether Enron might mislead the public in an impending earnings release. Temple's impulse apparently wasn't actually to be helpful but to ask the questioner to keep her name out of all correspondence so she wouldn't have to testify. Well, as the Five Dumbest Things in-house counsel informed us this week, Temple Did the Right Thing. As squirrelly as it might seem to the layperson, Ralph the Lawyer tells us it's standard operating procedure for an attorney to tell a client not to blab to the world about conversations they've had, because that's a sure way to lose the sacred attorney/client privilege of confidentiality. Any half-decent lawyer (we pray that includes Ralph) would do the same thing. Oops. Forget about that conversation with Ralph. It never happened. We learned about that privilege stuff from, uh, the Encyclopaedia Britannica. Anyway, we're sorry not only for making that mistake last week, but also for losing the opportunity, then and now, to make fun of Dumber stuff in the Enron/Andersen/accounting universe -- stuff like the shredding by the brilliantly named Shredco, the destitute family of ex-CEO Ken Lay and the wacky "isolated error" that caused Anadarko Petroleum to overlook a $1.7 billion writedown. Oh well. There's always next week. Sarah Palmer Internal Communications Manager Enron Public Relations (713) 853-9843
-----Original Message----- From: Love, Phillip M. Sent: Friday, October 19, 2001 9:39 AM To: '[email protected]'; '[email protected]'; Giron, Darron C.; Crowell, Scott; Simien, Jimmy; "Jason <jmjaked (E-mail); "Scott <wax (E-mail); "tarek <tarm27 (E-mail); Everett" "Smith (E-mail); Frank Binetti (E-mail); Gregory "Sonntag (E-mail); James Love (E-mail); Kenneth Martinec (E-mail); Mike <mjillard (E-mail); rachel bonilla-kragel (E-mail); Shane Dobbs (E-mail); Steve & Karen Love (E-mail); Toni" "D'Agostina (E-mail) Subject: FW: A Beautiful Tribute -----Original Message----- From: Brady, Edward Sent: Friday, October 19, 2001 9:30 AM To: Hopkins, Stephanie; Love, Phillip M.; Mills, Bruce; Murray, Kevin; '[email protected]'; '[email protected]'; '[email protected]' Subject: FW: A Beautiful Tribute -----Original Message----- From: Jean A Cusick [mailto:[email protected]] Sent: Friday, October 19, 2001 8:26 AM 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] Subject: Fw: A Beautiful Tribute Jean A. Cusick Special Events Coordinator Office of the Chancellor Louisiana State University 156 Thomas Boyd Hall Baton Rouge, LA 70803 (225) 578-7084 (225) 578-5982 (fax) [email protected] ----- Forwarded by Jean A Cusick/jcusic1/LSU on 10/19/2001 08:26 AM ----- "vgbrooks" <vgbrooks@hom To: "Anne Harrison" <[email protected]>, e.com> "Bernice Lennox" <[email protected]>, "Cookie Uffman" <[email protected]>, "Nancy Donald" 10/18/2001 <[email protected]>, <[email protected]>, "Jean Kay 06:33 PM Brown" <[email protected]>, "Margaret Brooksher" <[email protected]>, <[email protected]>, "Maggie Hebert" <[email protected]>, <[email protected]>, "Myra Landry" <[email protected]>, "Megan" <[email protected]>, "Randy Marrs" <[email protected]>, "Jean Cusick" <[email protected]> cc: Subject: Fw: A Beautiful Tribute This was sent to me by a friend who also has a senior at CHS. It was put together by Jamie Wax and Paul Taranto and is truly profound. Please take the time to view it and make sure your sound is on, the music makes it. Vicki ----- Original Message ----- 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] ; [email protected] ; [email protected] ; [email protected] ; [email protected] ; [email protected] ; [email protected] ; [email protected] ; [email protected] ; [email protected] ; [email protected] Sent: Thursday, October 18, 2001 6:42 AM Subject: Fwd: A Beautiful Tribute Be sure to visit this sight. It is very well done. Some of you know Jamie Wax and others will have heard the name Taranto because Darlene, who taught Hank and Mamie and will, hopefully, teach Mak in 5th grade is Paul's wife. Paul and Jamie wrote the musical "Evangeline" (based on the Acadian story of Evangeline). The music is from that play. Take Care Mary (Stella) Content-Transfer-Encoding: 7bit Content-Type: text/plain; charset="iso-8859-1" I have seen several tributes -- but this one is really special. New photos of the WTC disaster - such an unbelievable nightmare. Take a few minutes to watch this. It's worth it. -- Jarja A guy in Baton Rouge -- Mason Wood -- put together this incredible montage of the images from 9/11/01 that is incredibly poignant and well presented. You've got to see it to appreciate it. It is set to music written by Jamie Wax and Paul Taranto from the musical "Evangeline". They didn't realize what a profoundly appropriate backdrop it would make to express a country's sentiments. Put it on and turn it up! Then send this on. I did. Go to: www.masonwood.net/sept112001.html http://www.masonwood.net/sept112001.html
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Call Mark Johnson at 303-782-5510 [IMAGE] [IMAGE] ELECTRIC POWER NEWS - TOP STORIES [IMAGE] [IMAGE] [IMAGE] Energy Central's editors have selected these as the top stories of the day: Dominion Virginia Power Still Aims to Transfer Power Plants By Greg Edwards, Richmond Times-Dispatch, Va., Jan. 22 N. Korea says facing serious electricity shortage SEOUL, Jan 22 (Reuters) No Ruling in Alleged Enron Shredding By KRISTEN HAYS Associated Press Writer, HOUSTON, Jan 22, 2002 (AP Online via COMTEX) -- Russian electricity monopoly's management recommends spinning off high-voltage grid MOSCOW, Jan 22, 2002 (AP WorldStream via COMTEX) -- Utility Consumer Advocate Seeks Fine against Florida Power over Complaints By Steve Huettel, St. Petersburg Times, Fla., Jan. 22 [IMAGE] [IMAGE] ELECTRIC POWER NEWS - MOST REQUESTED [IMAGE] [IMAGE] [IMAGE] These stories have been most requested by Energy Central members in the last two weeks. Ex-Enron Execs Launch Own Firm By BILL BERGSTROM AP Business Writer, PHILADELPHIA, Jan 14, 2002 (AP Online via COMTEX) -- PJM, Midwest ISO may form vast US electricity market WASHINGTON, Jan 9 (Reuters) Court overturns approval of AEP, Central SW merger By Julie Vorman, WASHINGTON, Jan 18 (Reuters) Virginia Prepares for Deregulation of Electricity Market By Greg Edwards, Richmond Times-Dispatch, Va., Jan. 12 Report Lists Snags in Texas Electric Deregulation By R.A. Dyer, Fort Worth Star-Telegram, Texas, Jan. 11 [IMAGE] [IMAGE] GAS INDUSTRY NEWS - TOP STORIES [IMAGE] [IMAGE] [IMAGE] Energy Central's editors have selected these as the top stories of the day: Iran formally begins gas exports to Turkey through new pipeline ISTANBUL, Turkey, Jan 22, 2002 (AP WorldStream via COMTEX) -- Norway's PGS sells unit to Sinochem for $215 mln OSLO, Jan 22 (Reuters) - Offshore Contractor GlobalSantaFe Remains Optimistic about Gulf of Mexico By Nelson Antosh, Houston Chronicle, Jan. 22 US seeks industry interest in Alaska natgas drilling WASHINGTON, Jan 22 (Reuters) [IMAGE] [IMAGE] [IMAGE] OPEC Trial [IMAGE] [IMAGE] IN THIS ISSUE [IMAGE] [IMAGE] [IMAGE] Daily Edition for [email protected] [IMAGE] Welcome to Energy Central Professional Dispatch, your new expanded and exclusive e-mail news service. In addition to the Dispatch a new subscriber only Web site (http://pro.energycentral.com) has been established. As a current subscriber or trial user you may simply use the site menu to the left to access additional valuable information and resources. Should you have any questions please e-mail [email protected]. [IMAGE] Electric Power News Restructuring Today RER's eMetrix Load Forecast: CAL ISO Electric Power News - Top Stories Electric Power News - Most Requested Gas Industry News - Top Stories Selected Content Not In This Issue Utility Spotlight - Every Monday Utility Stock Price - Top Gainers - Each Tuesday [IMAGE] [IMAGE] [IMAGE] ELECTRIC POWER NEWS [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Selected 70 of 70 Articles Today! THESE ARTICLES BROUGHT TO YOU BY ITRON OFFERS WEB-BASED, WIRELESS WORKFORCE MANAGEMENT SOLUTION. Service-Link, developed by eMobile Data and marketed to the utility industry exclusively by Itron, combines the power of the Internet and the speed of wireless communications to take field operations to the next level. Service-Link is a low-cost, fully integrated application to manage virtually all field service tasks - service turn ons/turn offs, gas leak detection, credit and collections, meter services and emergency calls - quickly and efficiently, while eliminating the labor-intensive manual processing of work orders. To know more, start here: http://www.itron.com . [IMAGE] [IMAGE] Why are Microsoft, IBM, HP, Oracle and Sun so focused on incorporating "Web services" into their products? Here's what one energy executive says: "We've been benefiting from Excelergy's Web-based XML services since we implemented their products two years ago, and they've always been on the leading edge in terms of technology innovation, so their leadership in Web services is no surprise...Our key processes have become significantly more automated. We couldn't be more pleased." Want to learn more about how Excelergy's products can automate your billing, trading and other vital processes - saving your business time and money? Contact [email protected] or 781-372-5003. http://www.excelergy.com Top Stories Dominion Virginia Power Still Aims to Transfer Power Plants By Greg Edwards, Richmond Times-Dispatch, Va., Jan. 22 Dominion Virginia Power has taken the first step toward appealing the State Corporation Commission's denial of the utility's request to rid itself of its power plants. [IMAGE] No Ruling in Alleged Enron Shredding By KRISTEN HAYS Associated Press Writer, HOUSTON, Jan 22, 2002 (AP Online via COMTEX) -- A judge prodded parties in a lawsuit against Enron Corp. on Tuesday to work out a plan to halt the destruction of documents. [IMAGE] Utility Consumer Advocate Seeks Fine against Florida Power over Complaints By Steve Huettel, St. Petersburg Times, Fla., Jan. 22 Citing increased customer complaints during Florida Power's first year of out-of-state ownership, the state's utility consumer advocate said Monday he will ask regulators to fine the utility $7.5-million. [IMAGE] N. Korea says facing serious electricity shortage SEOUL, Jan 22 (Reuters) North Korea said on Tuesday it was suffering from a worsening electricity shortage due to years of natural disasters and the failure of the United States to implement a $4.6 billion nuclear reactor project. [IMAGE] Russian electricity monopoly's management recommends spinning off high-voltage grid MOSCOW, Jan 22, 2002 (AP WorldStream via COMTEX) -- The management of Russia's electricity monopoly Unified Energy Systems said Tuesday that it had recommended establishment of an independent grid company into which UES will spin off the national high-voltage grid, part of an ambitious reform plan aimed at attracting private investment. National Energy Policy Bush Promotes Energy Plan, Jobs By SCOTT LINDLAW Associated Press Writer, BELLE, W.Va., Jan 22, 2002 (AP Online via COMTEX) -- Touring coal country, President Bush said Tuesday that passage of his energy strategy is a matter of national security and economic health, and insisted coal is crucial to weaning the country from foreign fuel dependency. Competition & Deregulation NMPRC Issues Electric Energy Policy Jan. 22 (California Energy Markets) The New Mexico Public Regulation Commission on January 8 approved a resolution adopting an electric energy policy for that state [3668]. Special Offer from this Publisher! [IMAGE] ADVERTISEMENT 6th Annual Distributed Generation & On-site Power Conference - March 11-13, 2002, in Atlanta, GA. This year's program is again the leader in addressing the issues of viable systems for improving power quality & reducing energy costs. For more information, visit our web site at: http://www.dist-gen.com or call 508-823-5797. Mergers, Acquisitions & Divestitures Electrabel eyes Enron Spanish project BRUSSELS, Jan 22 (Reuters) Belgian utility Electrabel said on Tuesday it was talking with failed U.S. energy giant Enron with a view to taking over a power plant building project in Spain. Powergen scraps planned sale of Combined Heat and Power business LONDON, Jan 22, 2002 (AFX-Europe via COMTEX) -- Powergen PLC will not be proceeding with the sale of Powergen CHP, its Combined Heat and Power business. Economic affairs minister examines E.ON application Jan 22, 2002, (Frankfurter Allgemeine Zeitung /FT Information via COMTEX) -- German minister for economic affairs Werner Muller is to examine an application by E.ON AG, the energy group, for permission to acquire a majority stake in gas supplier Ruhrgas AG. EnBW considering its largest acquisition to date Jan 22, 2002, (Frankfurter Allgemeine Zeitung /FT Information via COMTEX) -- Energie Baden-Wurttemberg AG (EnBW), Germany's third-largest energy group, plans to acquire a package of shares in its smaller rival Neckarwerke Stuttgart AG (NWS) from the municipality of Stuttgart, thus securing an interest of almost 75 per cent in NWS, subject to approval by the Stuttgart local council. Enron's Indian venture's bidding terms set By INDRAJIT BASU, UPI Business Correspondent, CALCUTTA, India, Jan 22, 2002 (United Press International via COMTEX) -- The sale of bankrupt Enron Corp.'s 65 percent stake in its $2.9 billion Indian subsidiary, Dabhol Power Company, took a decisive turn Monday when its lenders announced their selling terms and a detailed four-month schedule for bidders. New Review of AEP / CSW Merger Calls Repeal of PUHCA Into Question Once Again by Will McNamara, IssueAlert, Jan. 21 (Scientech) A federal appeals court on Jan. 18 directed a review of the $4.37-billion acquisition of Central and South West Power Corp. (CSW) by Ohio-based American Electric Power, a merger that was completed 18 months ago. Special Offer from this Publisher! Legislation/Regulation US Congress gears up for high-profile Enron hearings By Kevin Drawbaugh, WASHINGTON, Jan 22 (Reuters) Congress is planning six hearings over the next four weeks into the spectacular collapse of Enron Corp., with Democrats searching for links between the fallen energy trader and the Bush administration. Bush says Enron duped his mother-in-law By KATHY A. GAMBRELL, UPI White House Reporter, WASHINGTON, Jan 22, 2002 (United Press International via COMTEX) -- President George W. Bush on Tuesday expressed outrage that Enron Corp. stockholders did not know the facts about the company before its financial collapse and vowed that the federal government would take action to protect shareholders -- like his mother-in-law. Virginia Committee Approves Plan to Trim Powers of Corporation Commission By Greg Edwards, Richmond Times-Dispatch, Va., Jan. 22 A General Assembly committee has endorsed killing the State Corporation Commission's authority to consider the environment and other issues when companies apply to build power plants and lines in Virginia. Lawmaker says set to subpeona Andersen in Enron case WASHINGTON, Jan 22 (Reuters) The head of a House of Representatives panel said Tuesday he was set to subpoena testimony if necessary from Arthur Andersen LLP, the fired auditors of collapsed Enron Corp. FACTBOX-US congressional hearings schedule on Enron issues WASHINGTON, Jan 22 (Reuters) Following are the six hearings which Congress has firmly scheduled on the collapse of Enron Corp. and related regulatory issues over the next four weeks. Congress could hamper Justice in Enron case-experts By Susan Cornwell, WASHINGTON, Jan 22 (Reuters) As Congress pursues a raft of investigations into the collapse of Enron Corp., some experts warn that lawmakers' zeal could trip up the Justice Department's criminal probe. Bush Enron strategy may backfire By MARTIN SIEFF, UPI Senior News Analyst, WASHINGTON, Jan 22, 2002 (United Press International via COMTEX) -- President George W. Bush is hanging tough and not giving an inch on growing Democratic demands to open the records on the energy giant Enron and its links with his administration. Former Treasury, Commerce Officials Comment on Government Role with Enron Case By James Rosen, The Sacramento Bee, Calif., Jan. 21 Former treasury and commerce secretaries from both parties, fascinated from afar by the Enron Corp. saga, say they see nothing wrong in the Bush administration's response to the dramatic fall of the energy giant. SEC advises better disclosure on Enron-like deals WASHINGTON, Jan 22 (Reuters) Federal regulators told companies on Tuesday as they prepare their annual reports that better disclosure is needed for off-balance sheet deals and other accounting methods associated with fallen energy trader Enron Corp. Feds Order Price Controls On Three Power Producers Jan 22 - The Augusta Chronicle Federal regulators are imposing new price controls on power producers that dominate their markets, hoping to head off electricity price spikes such as the ones that crippled California a year ago. Rates AUSTRALIAN STATE TO SEE INCREASE IN ELECTRICITY BILLS SYDNEY, Jan 22, 2002 (AsiaPulse via COMTEX) -- New South Wales (NSW) electricity bills are set to rise slightly under state government changes aimed at reducing greenhouse gas emissions. Deals/Contracts Tokyo Electric Power to sell natural gas to Nippon Steel TOKYO, Jan 21, 2002 (Kyodo via COMTEX) -- Tokyo Electric Power Co. (TEPCO) will annually sell 30,000 tons of natural gas to Nippon Steel Corp. starting in 2003, the first deal for the nation's top power supplier to retail natural gas, sources close to the deal said Tuesday. Power Pricing/Supply East Power Slip as Bearish Weather Generates Sleepy Trade Jan. 22 (Btu's Daily Power Report) Amid forecasts for mild weather weakening demand through the bulk of the week, spot prices tumbled at hubs across the Eastern U.S. for Wednesday delivery. Special Offer from this Publisher! Power Projects Seven Electricity Plants in the Works for New Mexico By Rosalie Rayburn, Albuquerque Journal, N.M., Jan. 21 The Western power market looks bright to power companies committed to building seven power plants in New Mexico by 2007, when the state plans to allow retail electricity competition. Atlanta-Based Power Plant Company to Continue with Plans in Wisconsin By Lee Hawkins Jr., Milwaukee Journal Sentinel, Jan.21 Mirant Corp., an Atlanta power plant developer, said Friday it will move forward with plans to build a 930-megawatt merchant plant in Wisconsin, despite a recent decision to scale back expansion nationwide. Endesa units to invest 207 mln usd in Brazil power plant; Mitusi to build MADRID, Jan 22, 2002 (AFX-Europe via COMTEX) -- Endesa SA said its Endesa Internacional and Enersis SA units plan to invest a total of 207 mln usd in a 310 megawatt combined-cycle electricity generating plant in the state of Ceara, northern Brazil. Legal Houston Law Firm Vinson & Elkins Avoids Enron Onslaught By Mary Flood, Houston Chronicle, Jan. 22 Though dozens of lawsuits have been filed against Enron, its executives and auditors, one party with deep pockets has dodged legal action: Milwaukee Charitable Group Seeks Lead-Plaintiff Status in Enron Case By Tom Daykin, Milwaukee Journal Sentinel, Jan. 21 A Milwaukee charitable organization could end up being a key player among the dozens of investment fraud lawsuits filed against scandal-ridden Enron Corp. Renewables Utilities Eye Green Power for Georgia By Christopher Schwarzen, The Macon Telegraph, Ga., Jan. 22 Green power won't replace coal-burning power plants any time soon in Georgia, but two opportunities will provide a start. Spain consolidates position as second-largest producer of wind energy in world Jan 22, 2002, (Expansion /FT Information via COMTEX) -- Installed wind energy capacity in Spain reached 3,337 megawatt hours in 2001, up 33.37 per cent on the figure at the end of 2000. Spain govt to investigate Abengoa's wind energy ops sale to Netherland's Nuon MADRID, Jan 22, 2002 (AFX-Europe via COMTEX) -- Abengoa SA said the the economy ministry has opened an investigation into the sale of the company's wind energy business to NV Nuon of the Netherlands. China to Develop Upper-Reaches of The Yangtze River Jan 22, 2002 - Xinhua News Agency China will start building two hydropower stations in the next four years in Jinshajiang, on the upper reaches of the Yangtze River. Energy Efficiency/Conservation Los Angeles Conservation Specialists Assess In-Home Energy Efficiency By Helen Gao, Daily News, Los Angeles, Jan. 22 The key to cutting residential utility bills isn't eliminating the one big energy-waster, but rather, taking a series of small measures that have cumulative impact, experts say. People Enron Chairman Lay Sold Off Company Stock to Pay Loans By David Ivanovich, Houston Chronicle, Jan. 22 Chairman Ken Lay repeatedly sold his Enron stock to pay off lines of credit advanced to him by the corporation, not because he had lost faith in the company, an Enron spokesman said Monday. Former Pilipinas Shell country chairman candidate for Napocor presidency MANILA, Jan 21, 2002 (AFX-Asia via COMTEX) -- Former Pilipinas Shell Petroleum Corp country chairman Oscar Reyes is one of the candidates being considered by President Gloria Arroyo to head the National Power Corp, Energy Secretary Vicente Perez said. Former Chairman of South Carolina Utility Company Dies at Age 81 By Kimathi Lewis, The State, Columbia, S.C., Jan. 21 Virgil Clifton Summer Jr. was an unassuming man of few words, his friends and co-workers say. Labor/Human Resources Laid-Off Enron Workers Hoping for Help from Funds By Mike Snyder, Houston Chronicle, Jan. 22 After four years working for Enron, Crystal Reyna expected a promotion last year. Former Enron Workers Air Complaints on CNN By Julie Mason, Houston Chronicle, Jan. 21 A former Enron Corp. employee who lost nearly $2 million in retirement savings said Sunday that workers were never informed that their investments were in peril. Environmental Kenosha, Wis.-Area Power Plant's Mercury-Reduction Experiment Cuts Emissions By Judy Newman, The Wisconsin State Journal, Jan. 22 A mercury reduction experiment at the Pleasant Prairie power plant near Kenosha Wisconsin's biggest coal-fired power plant slashed emissions of the hazardous substance by 40 to 60 percent, a state utility company said Monday. Nuclear Mich. 789-MW Palisades nuke at 35 pct power SAN FRANCISCO, Jan 22 (Reuters) Consumers Energy's 789-megawatt Palisades nuclear plant in Michigan was running at 35 percent power early Tuesday after completing a refueling and maintenance outage that began June 2001, the company said in a statement. US panel okays 33-pct duties on French uranium WASHINGTON, Jan 22 (Reuters) - A U.S. trade panel on Tuesday gave final approval to import duties totaling nearly 33 percent on shipments of more than $200 million worth of nuclear power plant fuel from France. Reprocessed nuclear waste arrives at Rokkasho from France ROKKASHO, Japan, Jan 22, 2002 (Kyodo via COMTEX) -- A cargo of reprocessed highly radioactive nuclear waste arrived Tuesday on board a British freighter at Mutsu-Ogawara port in Rokkasho village, Aomori Prefecture. Russia And USA Near Agreement On Nuclear-Fuel Supplies Moscow, Russia, Jan 22, 2002 (RosBusinessConsulting via COMTEX) -- A standoff between the Nuclear Power Ministry and a private U.S. company over Russian uranium supplies used to produce some 10 percent of America's electricity looks set to be resolved before deliveries are interrupted. Bulgarian, Greek prime ministers discuss controversial nuclear plant SOFIA, Bulgaria, Jan 22, 2002 (AP WorldStream via COMTEX) -- Bulgaria's prime minister on Tuesday assured his Greek colleague that Bulgaria will honor its commitment to close four of a total of six reactors at its only nuclear plant. Chernobyl checks security of nuclear storage after uranium smuggling case in Belarus KIEV, Ukraine, Jan 22, 2002 (AP WorldStream via COMTEX) -- Ukraine's Chernobyl nuclear power plant is examining how well its nuclear fuel is guarded after a case of uranium smuggling was uncovered in neighboring Belarus, plant officials said in a statement Tuesday. Russia to help shut down reactors at Bulgaria Kozlodui NPP MOSCOW, Jan 22, 2002 (Itar-Tass via COMTEX) -- The Russian Atomic Energy Ministry will help to shut down four VVER-440 reactors at the Kozlodui nuclear power plant in Bulgaria by the agreement between Bulgarian Deputy Prime Minister, Economics Minister Nikolay Vasilev and Russian Atomic Energy Minister Alexander Rumyantsev. Russians Shut Down 3 Nuke Plants MOSCOW, Jan 22, 2002 (AP Online via COMTEX) -- Reactors at three Russian nuclear plants were shut down in recent days because of malfunctions, nuclear energy officials said Tuesday. Freedom Party threatens with new elections, throwing government into a crisis By ROLAND PRINZ Associated Press Writer, VIENNA, Austria, Jan 22, 2002 (AP WorldStream via COMTEX) -- A petition seeking a shutdown of a much-disputed Czech nuclear plant on Tuesday plunged the Austrian coalition government into a deep crisis. Russian and Bulgarian economic leaders discuss trade, oil, nuclear Jan 22 - Associated Press Senior Russian and Bulgarian economic officials held talks in Moscow on Tuesday on trade, oil projects and the possible return to Bulgaria of nuclear waste that Russia imports and reprocesses, Russian media reports said. Financial Routine 401(k) Decision for Enron Became Costly Flashpoint By Alan Bernstein, Houston Chronicle, Jan. 22 Eleven months ago, Enron began looking for another firm to keep the records of its workers' retirement savings program, a bundle of 401(k) accounts then worth about $1.6 billion. Enron created hidden structures to inflate profit, enrich executives - lawyers Jan 22 - AFX Lawyers for Enron Corp shareholders and workers allege that Enron created complex, largely hidden financing structures to inflate its revenue and profit, hide debt from view, delay reporting losses and enrich some executives who ran them, the Washington Post reported, citing confidential documents addressed to private investors in Sept 2000. Accounting Firms Are under Scrutiny after Enron Case, Industry Experts Say By Megan Mulholland, The Post-Crescent, Appleton, Wis., Jan. 22 The integrity of the accounting industry is in jeopardy after Enron's bankruptcy cast a shadow on the financial sector, say local industry experts. Implications of Enron Debacle Terrify Financial Experts By Miriam Hill, The Philadelphia Inquirer, Jan. 22 Shredded documents. Congressional investigations. Phone calls to the President's men. Billions of dollars vanished. Financial - Ratings Centrica in focus after Schroders valuation-driven downgrade LONDON, Jan 22, 2002 (AFX-Europe via COMTEX) -- Centrica PLC was under the spotlight in early deals, pressurised by a downgrade by influential broker Schroder Salomon Smith Barney, which feels the energy group is fully valued at current levels, dealers said. Financial - Results PPL could take Brazil-related charges in '01, '02 ALLENTOWN, Pa., Jan 22 (Reuters) - Leading power producer and distributor PPL Corp. said on Tuesday that the effect of energy rationing in Brazil could result in "substantial" charges to its 2001 and 2002 earnings. Kansas City, Mo.-Based UtiliCorp United Expects Better Earnings for 2001 By Steve Everly, The Kansas City Star, Mo., Jan. 22 UtiliCorp United Inc. said Monday that it expected earnings for the year to be about 10 percent above 2000 levels. AEP fourth-quarter earnings fall on weather, economy COLUMBUS, Ohio, Jan 22 (Reuters) Utility holding company American Electric Power Co. Inc. said Tuesday its fourth-quarter earnings fell 41 percent, blaming unusually mild weather and the weak economy. PSEG fourth-quarter results fall on weather, economy NEWARK, N.J., Jan 22 (Reuters) Public Service Enterprise Group, owner of New Jersey's largest gas and electric utility, said Tuesday fourth-quarter profits fell 6.7 percent, citing mild weather and the slowing economy. Northeast swings to profit in fourth quarter NEW YORK, Jan 22 (Reuters) - Northeast Utilities, New England's largest power distributor, on Tuesday posted a fourth-quarter profit, but results fell slightly short of Wall Street's consensus estimate as warmer-than-normal weather dampened demand. International Belgian Energy Group to Shed Two Thai Plants By Srisamorn Phoosuphanusorn, Bangkok Post, Thailand, Jan. 22 Tractebel, a Belgian energy group, plans to sell its cogeneration plants in Samut Prakan and at Nong Khae in Saraburi as part of a change in focus in the power industry. INDIA'S TROUBLED DPC READY TO HAND OVER EVIDENCE TO HIGH COURT MUMBAI, Jan 22, 2002 (AsiaPulse via COMTEX) -- Enron's troubled Dabhol Power Company (DPC) informed the Mumbai High Court that the code CDs and e-chips of its idle power plant were in India, and that it was ready to hand over these critical components to Industrial Development Bank of India (IDBI). Courts freeze R$12.6mi of Enron in energy market Brazil, Jan 21, 2002 (Gazeta Mercantil/SABI via COMTEX) -- The Eucatex company, which had a contract with Enron to sell energy from its Salto (Sao Paulo) thermoelectric plant, has succeeded in having a Brazilian court freeze R$12.6mil in credits which Enron has in the MAE (Mercado Atacadista de Energia). Controversy in the privatization of electric companies Ecuador, Jan 21, 2002 (El Universo/SABI via COMTEX) -- The privatization of 51% in the Ecuadorian electric power distribution companies has became a controversial process with all the parts involved on it putting pressures in the government. Fox Says Energy Reform is Necessary Mexico, Jan 22, 2002 (BNamericas.com via COMTEX) -- Mexican President Vicente Fox has confirmed his support for reform of the country's energy sector in an address to legislators and businessmen. State Power beefs up plans to create competitive sector Jan 22 - South China Morning Post State Power has vowed to step up plans to reform the mainland's fragmented power sector and push through an ambitious capital- expenditure programme this year. Tractebel Head Has Several Reasons To Invest In Mexico MEXICO CITY, Jan 22, 2002 (Reforma/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Tractebel International President Jean-Pierre Hansen denied that proposed changes to Mexican energy regulations are meant to benefit companies, and said they are meant to respond to growing energy demand, reported Mexico City daily Reforma. AGL denies it has an eye on CitiPower By Rod Myer, Jan 23, 2002 (The Age - ABIX via COMTEX) -- Shares in energy group, Australian Gas Light (AGL), rose by 29.5 per cent on 22 January 2002. [IMAGE] Powered by Energy Central ? 2002 CyberTech, Inc. All rights reserved. More News [IMAGE] [IMAGE] Top [IMAGE] RESTRUCTURING TODAY [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] January 22, 2002 ISO convinced DTE it's listening Alliance wasn't as convincing to DTE leaders NEPOOL shopping for ISO New England replacement AEP-CSW merger ruled out by appeals court Only Congress can repeal PUHCA, jurists declare UK regulators assault competition myths LA lawmakers find way to find, hold LADWP CEO Wiggs Perlman saddened by Yzaguirre's leaving PSC may set NYSEG prices low enough to kill market Va holds up on merchant plants Restructuring Digest Powered By US Publishing ? 2002 US Publishing. All Rights Reserved. More Info [IMAGE] [IMAGE] Top [IMAGE] RER'S EMETRIX LOAD FORECAST: CAL ISO [IMAGE] [IMAGE] [IMAGE] [IMAGE] Actual and forecasted hourly load for CAL ISO. [IMAGE] CAL ISO Chart Powered By RER ? 2002 RER. All Rights Reserved. [IMAGE] [IMAGE] Top [IMAGE] ABOUT ENERGY CENTRAL PROFESSIONAL [IMAGE] [IMAGE] [IMAGE] This e-mail service is part of an Energy Central Professional subscription. * Click here to change your preferences. * Visit Member Services to START, STOP, or CHANGE FORMAT for all of your e-mail subscriptions. * To STOP receiving this service click here or send a message to [email protected] or call Member Services at 303-782-5510. Press Releases Submit press releases and other news to [email protected] . Sponsorship And Advertising For sponsorship or advertising info call sales at 303-782-5510. [IMAGE] [IMAGE] [IMAGE] [IMAGE] Home - Feedback - Contact Us - About Energy Central [IMAGE] [IMAGE] [IMAGE] Copyright ? 1996-2002 by CyberTech, Inc. All rights reserved. [IMAGE] Energy Central and Energy Central Professional are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. 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>From: Michael Kreidler <[email protected]> >To: [email protected], [email protected], [email protected], >[email protected], [email protected], [email protected], > [email protected] >CC: [email protected] >Subject: Dub-Ya >Date: Fri, 1 Dec 2000 16:24:23 -0800 > >"The vast majority of our imports come from outside the country." >....George W. Bush, Jr. > > "If we don't succeed, we run the risk of failure." > ....George W. Bush, Jr. > > "Welcome to Mrs. Bush, and my fellow astronauts." > ....Governor George W. Bush, Jr. > > "Mars is essentially in the same orbit...Mars is somewhat the same > distance from the Sun, which is very important. We have seen pictures > where there are canals, we believe, and water. If there is water, that > means there is oxygen. If oxygen, that means we can breathe." > ....Governor George W. Bush, Jr., 8/11/94 > > "The Holocaust was an obscene period in our nation's history. I mean >in this century's history. But we all lived in this century. I didn't live >in > this century." >....Governor George W. Bush, Jr., 9/15/95 > > "I believe we are on an irreversible trend toward more freedom and > democracy - but that could change." >....Governor George W. Bush, Jr., 5/22/98 > > "One word sums up probably the responsibility of any Governor, and >that one word is 'to be prepared'." > ....Governor George W. Bush, Jr., 12/6/93 > >"Verbosity leads to unclear, inarticulate things." > ....Governor George W. Bush, Jr., 11/30/96 > > "I have made good judgments in the past. I have made good judgments in > the future." > ....Governor George W. Bush, Jr. > > "The future will be better tomorrow." >....Governor George W. Bush, Jr. > > "We're going to have the best educated American people in the world." > ....Governor George W. Bush, Jr., 9/21/97 > > "People that are really very weird can get into sensitive positions >and have a tremendous impact on history." > ....Governor George W. Bush, Jr. > > "I stand by all the misstatements that I've made." >....Governor George W. Bush, Jr. to Sam Donaldson, 8/17/93 > > "We have a firm commitment to NATO, we are a part of NATO. We have a > firm commitment to Europe. We are a part of Europe." > ....Governor George W. Bush, Jr. > > "Public speaking is very easy." > ....Governor George W. Bush, Jr. to reporters in 10/99 > > "I am not part of the problem. I am a Republican" > ....Governor George W. Bush, Jr. > > "A low voter turnout is an indication of fewer people going to the > polls." >....Governor George W. Bush, Jr > > "When I have been asked who caused the riots and the killing in LA,my > answer has been direct & simple: Who is to blame for the riots? The > rioters are to blame. Who is to blame for the killings? The killers >are to blame. ....George W. Bush, Jr. > >"Illegitimacy is something we should talk about in terms of not having > it." > ....Governor George W. Bush, Jr., 5/20/96 > > "We are ready for any unforeseen event that may or may not occur." > ....Governor George W. Bush, Jr., 9/22/97 > > "For NASA, space is still a high priority." > ....Governor George W. Bush, Jr., 9/5/93 > > "Quite frankly, teachers are the only profession that teach our > children." > ....Governor George W. Bush, Jr., 9/18/95 > > "The American people would not want to know of any misquotes that >George Bush may or may not make." > ....Governor George W. Bush, Jr. > > "We're all capable of mistakes, but I do not care to enlighten you on > the mistakes we may or may not have made." > ....Governor George W. Bush, Jr. > > "It isn't pollution that's harming the environment. It's the >impurities in our air and water that are doing it." > ....Governor George W. Bush, Jr. > > "[It's] time for the human race to enter the solar system." > ....Governor George W. Bush, Jr. ______________________________________________________________________________ _______ Get more from the Web. FREE MSN Explorer download : http://explorer.msn.com
Greetings, Kari. Today's installment includes: Background on Nord Pool Information on the status of de-regulation in Pennsylvania. The rumors regarding securitization of utilities' power purchase costs had a very positive effect on the utilities' stock today. Congratulations. There is conflicting information floating around, though. Some wires stories say that a state senator will sponsor a securitization bill. Others say that it will be the Governor's bill. Is securitization legislation something that the Governor intends to sponsor/support? Though there are clearly some challenges to securitization, we think it offers a promising option. Hope the information is useful. Best, Jeff ----- Forwarded by Jeff Dasovich/NA/Enron on 01/04/2001 07:16 PM ----- "PennFuture" <[email protected]> 01/04/2001 11:12 AM Please respond to "PennFuture" To: <Undisclosed-Recipient:@mailman.enron.com;> cc: Subject: PennFuture's E-cubed -- Price, Policy and Misperception PennFuture's E-cubed is a commentary biweekly email publication concerning the current themes and trends in the energy market. ? January 4, 2001Vol. 3, No. 1 ? Price, Policy and Misperception ? The ringing in of 2001 marks the completion of the fourth year since Pennsylvania,s electricity competition law went into effect on January 1, 1997, and the second year since Pennsylvania,s retail market was fully opened to customer choice on January 1, 1999. But nationwide, while reliability, environmental performance, and assistance for low-income customers are crucial factors, the price of power has alone become the main standard for judging the success or failure of competitive transition policies. Near hysteria about prices is yet another fallout of the California mess where rates are a daily nightmare for consumers. ? In an effort to broaden electricity policy discussion beyond the myopic focus on California, we note that competitive residential retail prices of electricity in Pennsylvania this New Year are considerably below what customers were paying for generation and transmission service or embedded generation on January 1, 1997. If you doubt it, compare columns B and D below. Just as interestingly, competitive prices for 100% renewable energy products are well less than what customers of Duquesne Light and PECO Energy paid for power generated from mainly coal and nuclear prior to competition (columns C and D). ? Comparison of Residential Unbundled Embedded Generation to Retail Power Prices (in cents/kWh)A. 2000 Shopping CreditB. Lowest Retail PriceC. 100% Green Power Prices?D. Embedded Generation & Transmission?????????????????????? A.??????? B.????? C.??????? D.Duquesne?????? 4.80??? 4.60??? 6.49??? 8.75GPU/Met-Ed?? 4.53??? 4.60??? 7.09??? 5.70GPU/Penelec? 4.53??? 4.50??? 7.09??? 5.40PECO???????????? 5.65??? 4.65??? 6.37??? 8.65PPL??????????????? 4.61??? 4.30??? 7.09??? 6.26Allegheny??????? 3.24??? 5.20??? 6.49??? 5.30Note: 2001 shopping credits will be moderately higher in some cases. ? In most parts of the Commonwealth, current competitive retail prices for residential customers are 0.90 to 3.15 cents per kilowatt-hour less than what customers were paying for the same generation and transmission service prior to competition. As a result of stranded cost charges that utilities are being allowed to collect, these substantial competitive savings are not fully passed on to consumers. ? In fact, were it not for stranded cost charges, Pennsylvania,s residential customers would have had their total rates (including distribution and transition rates) decline by about 20% in 2000. Generation rates would have declined by as much as 40%. These huge price reductions are real but will not fully reach customers during the transition period when utilities are allowed to collect stranded costs. ? Competitive retail prices are also in most cases less than Pennsylvania,s default rates or shopping credits. This is important and encouraging, because Pennsylvania,s current residential default rates or shopping credits are in every case much less than what customers were paying for generation service at the start of the competitive transition. Indeed, current default rates are about one to three cents per kilowatt-hour less than residential customers were paying for the same service from their local utility prior to competition. ? The California fiasco has meant a lot of discussion about the price of electricity, but it has not meant a lot of understanding of sensible competitive policies, potential impact on retail prices. Instead, a great deal of reporting reflects understandable misconception of basic price benchmarks. For example, very few stories identify accurately or even at all what customers were paying for generation service prior to competition (the pre-competition embedded generation rate of the incumbent utility). This failing can be traced to the fact that states have not prominently made this data available. ? Worse yet, many press articles mistakenly assume the default rate or the shopping credit is equal to what customers were paying the local utility for generation service prior to competition, and report that competition will lead to price shock for customers if market prices exceed present default rates. But this dramatic warning is typically wrong. ? The press, misunderstanding hides an important fact: current default rates or shopping credits are nearly always much less than what customers were paying for generation service prior to competition. Total rates after the transition to competition will not be greater than they were prior to competition, unless competitive retail rates exceed the utility,s pre-competition embedded generation rate. ? Consequently, if competitive prices are higher than current default rates but lower than a utility,s pre-competition embedded generation rate, consumers will have lower total rates once stranded cost charges are removed and the transition period expires. That is, they will if a state creates a genuinely competitive retail market that pulls through competitive prices. E-cubed is available for reprint in newspapers and other publications. Authors are available for print or broadcast. Support E-cubed by becoming a member of PennFuture * visit our secure online membership page at www.pennfuture.org by clicking on &Support Our Work.8?PennFuture, with offices in Harrisburg, Philadelphia and Pittsburgh, is a statewide public interest membership organization, which advances policies to protect and improve the state,s environment and economy. PennFuture,s activities include litigating cases before regulatory bodies and in local, state and federal courts, advocating and advancing legislative action on a state and federal level, public education and assisting citizens in public advocacy. ?We hope you found this informative and interesting. However, if you would prefer not to receive future issues, please reply to this email and type &unsubscribe8 in the subject line. - Vol3No1_10301.doc
COLUMBIA GAS TRANSMISSION CORPORATION NOTICE TO ALL INTERESTED PARTIES JUNE 06, 2001 Notice ID: 2778 5 - NO RESPONSE REQUIRED SUBJECT: CAPACITY UPDATE EFFECTIVE FOR THURSDAY, JUNE 7, 2001 NO CHANGES FROM PREVIOUS DAY Effective Thursday, June 7, 2001, capacities will be as follows: Excess MDWQ Available + ISS Withdrawals Available SIT Withdrawals Available Imbalance Drawdowns Available PAL Lends/Unparks Available Excess MDIQ Not Available + ISS Injections Not Available SIT Injections Not Available Imbalance Paybacks Not Available PAL Parks/Loan Paybacks Not Available + Call Gas Control 24 hours in advance at (304) 357-2606 to request approval. Receipt capacity will be as follows: TENNESSEE: Brinker (B12) 20,000 Broad Run (B9) 450,000 Cambridge (B10) 20,000 Dungannon (B11) 50,000 Highland (B17) 25,000 Milford (B18) 15,000 North Greenwood (B22) 0 Unionville (B15) 50,000 TEXAS EASTERN: Delmont (C16) 0 Eagle (C22) 30,000 Hooker (C9) 50,000 Pennsburg (C23) 50,000 Windridge (C12) 50,000 NATIONAL FUEL: Independence (M1) 10,000 Ellwood City (L1) 10,000 TRANSCO: Downingtown (E3) 5,000 Emporia I (E13) 120,000 Rockville (E2) 65,000 Dranesville (E1) 25,000 ALGONQUIN: Ramapo (R1) 50,000 ANR: Paulding/Cecil 105,000 (F1, A2) LEBANON AGGREGATE 195,000 (A4, F2, C4, D3) TOLEDO AGGREGATE 225,000 (A3, F4, 734462) COLUMBIA GULF: (801) TCO-Leach 2,218,000 Internal point non-firm capacity will be as follows: Lanham No Restrictions Delivery capacity (non-firm) will be as follows: TRANSCO: Martins Creek (MA 21) 25,000 Young Woman's Creek 15,000 (MA 36) ALGONQUIN: Hanover (MA 22) 166,000 EQUITRANS: Fallen Timber (MA 35) 35,000 (MLI K1) Waynesburg-Rhinehart 30,000 (MA 26) (MLI K2) OPT-30 will be available in all market areas. OPT-60 will be available in all market areas. Market Area delivery capacity (non-firm) will be as follows: Operating Area 1 Market Area 33 No Restrictions Market Area 34 No Restrictions Operating Area 2 Market Area 20 No Restrictions Operating Area 3 Market Area 15 No Restrictions Market Area 16 No Restrictions Market Area 17 No Restrictions Market Area 18 No Restrictions Market Area 19 No Restrictions Operating Area 4 Market Area 21 No Restrictions Market Area 22 No Restrictions Market Area 23 No Restrictions Market Area 24 No Restrictions Market Area 25 No Restrictions Market Area 29 No Restrictions Operating Area 5 Market Area 02 No Restrictions Market Area 07 No Restrictions Operating Area 6 Market Area 10 No Restrictions Market Area 11 No Restrictions Market Area 12 No Restrictions Market Area 13 No Restrictions Market Area 14 No Restrictions Operating Area 7 Market Area 01 No Restrictions Market Area 03 No Restrictions Market Area 04 No Restrictions Market Area 05 No Restrictions Market Area 06 No Restrictions Market Area 08 No Restrictions Market Area 09 No Restrictions Operating Area 8 Market Area 26 No Restrictions Market Area 27 No Restrictions Market Area 32 No Restrictions Market Area 35 No Restrictions Market Area 36 No Restrictions Market Area 38 No Restrictions Market Area 39 No Restrictions Market Area 40 No Restrictions Operating Area 10 Market Area 28 No Restrictions Market Area 30 No Restrictions Market Area 31 No Restrictions If you have any questions, please contact your Account Representative.
_________________________________________________________________ F O O L W A T C H Friday, October 27, 2000 [email protected] _________________________________________________________________ REGISTER TO BECOME A FOOL -- GET FREE STUFF! http://www.fool.com/m.asp?i=172632 _________________________________________________________________ Close Change %Change NOW 50 1,808.66 +7.48 +0.42% DJIA 10,590.62 +210.50 +2.03% S&P 500 1,379.57 +15.13 +1.11% NASDAQ 3,278.36 +6.18 +0.19% (Numbers as of 5:00 p.m. ET) SPONSORED BY: FOLIOfn Instead of picking stocks one at a time, now in one simple transaction buy a whole portfolio of stocks for a low flat fee. FOLIO investing from FOLIOfn. Click for a Free Trial! http://www.lnksrv.com/m.asp?i=172633 FOOL ON THE HILL: THE $190 BILLION HAIRCUT How come optical networking stocks weren't called overvalued until they dropped on Wednesday? http://www.fool.com/m.asp?i=172634 SPECIAL: ELVIS' RETIREMENT SECRET Find out how The King's estate planning went wrong in our retirement quiz. http://www.fool.com/m.asp?i=172635 WEEK IN THE REVIEW: OCTOBER'S END Jerry Thomas summarizes a week that includes spooky stories about Lucent and Xerox. http://www.fool.com/m.asp?i=172636 ONLY A FEW DAYS LEFT! Our online seminar makes retirement planning simple. Sign up today. http://www.fool.com/m.asp?i=172637 RULE MAKER: SCHERING-PLOUGH, T. ROWE PRICE UPDATE Zeke Ashton gives two Rule Maker companies a third-quarter checkup. http://www.fool.com/m.asp?i=172638 RULE BREAKER: RULE BREAKING ON LITTLE ROUND TOP, 1863 According to one Fool, Civil War battle strategy is surprisingly relevant to Rule Breaker investing. http://www.fool.com/m.asp?i=172639 TAXES: NEW JOB, OLD 401(K)? Roy Lewis explains the options for handling 401(k) funds from a previous employer. http://www.fool.com/m.asp?i=172640 RADIO SHOW: THIS WEEK'S LINEUP Listen to Tom and David Gardner talk about scary stocks and spooky costumes -- plus Amazon's Jeff Bezos. http://www.fool.com/m.asp?i=172641 FOOLISH FOUR: IN SEARCH OF A DOW STOCK Honeywell's replacement in the Dow may mean a shrinking pool of Foolish Four contenders. http://www.fool.com/m.asp?i=172642 HOT TOPICS: WHAT FOOLS ARE TALKING ABOUT Fools are talking about: Nortel's dark night, October's optical illusion, and more. http://www.fool.com/m.asp?i=172643 FRIBBLE: DEBTORS ANONYMOUS There's more than one way to get out of debt. Here's what worked for this Fool. http://www.fool.com/m.asp?i=172644 FOOL PLATE SPECIAL: VEECO SPARKLES Veeco spooked investors with an earnings warning in early October, but are its Q3 results really a disappointment? http://www.fool.com/m.asp?i=172645 BREAKFAST WITH THE FOOL: JDS UNIPHASE'S WHITE-HOT Q1 The optical networking component maker's fiscal Q1 earnings came in strong. Will they be enough to reverse this week's sector sell-off? http://www.fool.com/m.asp?i=172646 _________________________________________________________________ My Portfolio: http://www.fool.com/m.asp?i=172647 My Discussion Boards: http://www.fool.com/m.asp?i=172648 My Fool: http://www.fool.com/m.asp?i=172649 Fool.com Home: http://www.fool.com/m.asp?i=172650 My E-Mail Settings: http://www.fool.com/m.asp?i=172651 SPONSORED BY: FOLIOfn Instead of picking stocks one at a time, now in one simple transaction buy a whole portfolio of stocks for a low flat fee. FOLIO investing from FOLIOfn. Click for a Free Trial! http://www.lnksrv.com/m.asp?i=172652 LAST WEEK TO ENROLL! Planning your retirement doesn't get any easier. Don't miss our Roadmap to Retirement online seminar. http://www.fool.com/m.asp?i=172653 WIRELESS 201: NOKIA, QUALCOMM AND MORE Check out the sequel to the best-selling "Wireless 101" on Soapbox.com http://www.lnksrv.com/m.asp?i=172654 FOOL DIRECT E-MAIL SERVICES Need to change your address or unsubscribe? You can also temporarily suspend mail delivery. http://www.fool.com/community/freemail/freemaillogin.asp?email=benjamin.rogers @enron.com Have ideas about how we can improve the Fool Direct or new e-mail products you'd like to see? Try our discussion board: http://www.fool.com/m.asp?i=172655 _________________________________________________________________ (c) Copyright 2000, The Motley Fool. All rights reserved. This material is for personal use only. Republication and redissemination, including posting to news groups, is expressly prohibited without the prior written consent of The Motley Fool. MsgId: msg-5249-B10276351Address.msg-18:54:24(10-27-2000) X-Version: mailer-sender-master,v 1.84 X-Version: mailer-sender-daemon,v 1.84 Message-Recipient: [email protected]
Our last pick, SYGE has returned more than 30% since December 19th. Today's company looks like an even bigger winner. ********************************************************************* OTC Investor Dtomi, Inc. (OTC.BB: DTMI) January 09, 2002 ******************************************************************* The Bear Market appears to have ended and the market has tested important support levels. Recently the NASDAQ has rallied to over 2000, and the DOW has rallied to over 10,000. The accumulation/distribution indicators have turned extremely positive, meaning institutions and mutual funds have started buying stocks. We believe it is time for investors to get back into the market. Our next recommendation, Dtomi, Inc. (OTC.BB:DTMI), could be one of our top picks of the year. For this reason we here are giving DTMI our highest rating of Strong Buy/Aggressive Growth. ******************************************************************* Stock Symbol: DTMI Shares Outstanding: 15,400,000 Float (estimated): 2,500,000 (estimated) Rating: Strong Buy/Aggressive Growth Current Price: $2.00 Target Price: $7.50 ****************************************************************** About the Company DTMI is a technology company that turns data into market intelligence. DTMI combines very sophisticated proprietary software that intelligently researches every aspect of business to business databases for company information, products and manufacturing capacity. DTMI utilizes these proprietary databases to create algorithms that compile and sell high-demand corporate intelligence and marketing information. DTMI's combination of technology and expertise quickly identifies new markets and prospects for client's marketing departments. According to DTMI's management, the company has become one of the leading aggregator and distributors of data from disparate corporate sources. This data is melded into a collective, powerful, interlocking matrix of valuable and concise information. Using DTMI's Market Intelligence Tools, a client-company can compile a comprehensive market report (including total market valuation), pinpoint each unique segment within that market, determine the va! luation and number of companies that make up that segment, then identify actual buyers of its products. Simply put, the value of DTMI to a client-company is this: the comprehensive analysis that DTMI compiles for its clients is usually done in one day or less and costs on average $5000 to $7000. Using a company's own marketing and research department to compile the same information, and generate similiar quality leads, would take weeks or months and cost tens of thousands to hundreds of thousands of dollars. Revised Earnings In today's economic climate of layoffs and cost-cutting, companies are looking for ways to save money. DTMI offers a service they cannot afford to pass up. DTMI management is seeing such a rapid acceleration in the number of companies coming to it for services, it has recently revised earnings projections upward. Also, DTMI is signing up clients with longer-term engagements than management had originally projected. This is just one of the reasons we are strongly recommending this stock. Market Place Sales of Business Information are expected to reach $58 Billion by 2003 according to Verronis & Suhler. DTMI's market intelligence segment is expected to reach $4 billion in the next several years. As we stated earlier, DTMI's technology can yield detailed market intelligence in a matter of minutes, compared to weeks or more to cultivate the similar data through traditional means, and at an incredible savings. We believe DTMI's technology is far above its competitors, and that it can capture a huge share of its market. Conclusion We believe market penetration of 1.5-2% is very achievable for DTMI. That could potentially mean an estimated $80 million-plus in revenues per year. Should the company achieve even half those revenues, our target price will be raised significantly. At $40 million in revenues, and with a 30% net margin, earnings would be $12 million. After-tax income would be $0.54 per share. At a 20 P/E ratio the stock would be worth $10.80 per share; but remember, that's half of what we think it could achieve. Also, according to management, based on early feedback from customers, new business will not be a problem. You can see why we are excited about this stock. Additionally, this company just started trading at $1.70 and, based on the company's quick move out of the blocks, Wall Street is paying attention. At these current price levels the stock is difficult for us to ignore. It looks like DTMI is in a strong upward trend, climbing to higher levels. ***************************************************************** INVESTING IN SECURITIES IS SPECULATIVE AND CARRIES A CERTAIN DEGREE OF RISK. This is not a recommendation to buy or sell securities or other investment products. Neither OTC Investment News nor any of its editorial staff are licensed or registered legal or investment advisors, and therefore cannot and will not make any representations or recommendations whatsoever. All readers are encouraged to seek professional advice from a licensed investment advisor or other person familiar with the subject matter herein. ***************************************************************** Important Disclosure OTC Investor and its "Report" are not a registered investment advisor, a broker-dealer and/or a broker. All statements and expressions are strictly the opinions of OTC Investor, the statements and expressions made are not meant to be a solicitation to buy or sell securities. We at OTC Investment News believe all sources of information to be reliable but make no representation or guarantee to the accuracy of the information provided. The information that OTC Investment News relies on is, generally provided by the company featured and will also use every attempt possible to include all information available from outside sources. Investors should not only rely solely on the information contained in this publication. Rather investors should use the information provided as a starting point for doing additional research to form his or her opinions. Understand that trading or investing in any securities involves a high degree of risk and use of the information provided is at the i! nvestor's sole risk. Know your risk limitations. OTC Investor and its publishers are not liable for any losses, damages, monetary or otherwise, that may occur due to the content of the OTC Investment News or its Report. The matters in this report contain forward looking statements, as defined in section 27(A) of the securities act of 1933 and section 21(E) of the security exchange act of 1934 as amended. OTC Investor may act as a consultant to these companies reviewed in this publication. Investors should be made aware that companies featured might pay consideration to OTC Investor and/or its shareholders. OTC Investor expects to receive compensation in cash of $7,500.00 from Equity Advisors for dissemination of this report. If you wish to stop receiving the OTC Investor report, please send an email to [email protected] Put leave OTC in the subject line. *** ****
Late breaking good news! Attached find Rich Hall's testimony on behalf of PG&E. It would appear that Mr. Baldwin's extensive lobbying efforts have paid off here. Nowhere do I see a specific reference to Hector Road/Transwestern as another example of the Comprehensive Settlement's failure to deal with the allocation problem at Wheeler Ridge. That being said, I note that the "generic" prescription sponsored by PG&E applies in all cases where, "the combined capacity of the upstream interconnects exceeds the downstream take-away capacity." Anyone paying close attention, or anyone with an axe to grind here, will be quick to point out that there maybe other examples similar to Wheeler-- can you say, "Hector Road?" We'll just have to deal with questions on the application of the generic rule during the hearings. I think it good news that PG&E chose not to spell it out for anyone. Maybe we owe them one after all? Thoughts? ---------------------- Forwarded by Jeffery Fawcett/ET&S/Enron on 05/05/2000 06:28 PM --------------------------- "Gluzgold, Yevgeniya" <[email protected]> on 05/05/2000 06:05:05 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 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protected]>, "'[email protected]'" <[email protected]>, "Thomas, Dan (CGT Mgr)" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Eisenman, Eric" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Lindh, Frank (Law)" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Bellenger, Geoffrey" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email 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protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Golden, Patrick (Law)" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Litteneker, Randall (Law)" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Stoner, Ronald" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Frank, Steven (Law)" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Berkovitz, Trista" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', "Kurz, Edward (Law)" <[email protected]>, '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]', '[email protected]' cc: Subject: PG&E's Prepared Direct Testimony in I.99-07-003 Attached please find PG&E's prepared direct testimony and associated documents in the above referenced proceeding. Sincerely, Jenny Gluzgold PG&E <<biren.doc>> <<SoCalGas_Cover.doc>> <<SoCalGas_HallRC.doc>> <<SQRCH-SoCalOII.doc>> <<Proofofservice3272000.doc>> - biren.doc - SoCalGas_Cover.doc - SoCalGas_HallRC.doc - SQRCH-SoCalOII.doc - Proofofservice3272000.doc
The Morning Report - December 13, 2000 Bouncing On Bad News By Chris Nerney Internet ad services market leader DoubleClick wasn't the biggest gainer Tuesday among members of internet.com's Internet Stock Index - that honor belonged to PSINet, which soared 49% after announcing another round of layoffs and on rumors that Sprint may be interested in buying the beleaguered access provider. But the fact that DCLK gained at all after issuing a warning for Q4 after Monday's market close is almost shocking, given the current bearish outlook for online advertising growth. Surely no other Internet company is more vulnerable to a downturn in Web ad spending than DoubleClick, whose business plan from Day One was based on becoming the premiere provider of services for companies advertising on the Internet. DoubleClick certainly has achieved that goal, but the company still has no profits to show for it. And with concerns about the future of online advertising intensifying throughout the year as one 'Net firm after another lowered their ad-revenue forecasts, DCLK has become one of the biggest losers among large-cap 'Net players. Even with Tuesday's 16% gain (to $13.88), DoubleClick is down 89% this year. So why the post-warning spike? Perhaps investors feel DCLK shares already have been discounted enough. With a market capitalization of $1.7 billion, DoubleClick is valued at 3.2x trailing 12 months' revenue of $433 million. Not a bad price for a company that dominates its sector. Or it could be Wall Street expected worse than DoubleClick's Q4 advisory, which warned that revenues will be 8% to 10% below expectations and that the bottom line will range from break-even to a net loss of 3 cents per share. While those latter numbers may be well short of consensus Q4 estimates calling for a net profit of 2 cents per share, they hardly are indicative that the sky is falling on DoubleClick. Yet. It looks as if investors will have to wait at least until April for evidence that DoubleClick can turn a profit. Until then, don't expect many days like Tuesday for DCLK shares. Getting back to PSINet, its nearly 50% gain (or 53 cents) on Tuesday helped slash its year-to-date loss to 94.7% from 96.5%. The layoff of 300 workers clearly is intended to help position the company for a sale. In November, PSINet said it had hired Goldman Sachs to explore strategic options. As a group, the 50 members of the Internet Stock Index, or ISDEX, gained 6% in the week of trading ended Tuesday, closing at 501. For the year, the ISDEX has fallen 41.8%. /-------------------------------------------------------------------\ GUINNESS FLIGHT internet.com TM INDEX FUND Access the Internet with the Guinness Flight internet.comTM Index Fund. Created to track the Internet Stock Index, known as ISDEXc the Fund is the first Internet index fund. And the ISDEX, which was created in April 1996, is both the oldest and most widely followed pure Internet index in the marketplace. Visit http://www.gffunds.com/isdex \--------------------------------------------------------------adv.-/ Disclaimer: Neither internet.com nor the writers of this newsletter makes specific trading recommendations or gives individualized market advice. Information contained in this newsletter is provided as an information service only. internet.com recommends that you get personal advice from an investment professional before buying or selling stocks or other securities. The securities markets are highly speculative areas for investments and only you can determine what level of risk is appropriate for you. 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Internet Technology http://internet.com/sections/it.html E-Commerce/Marketing http://internet.com/sections/marketing.html Web Developer http://internet.com/sections/webdev.html Windows Internet Technology http://internet.com/sections/win.html Linux/Open Source http://internet.com/sections/linux.html Internet Resources http://internet.com/sections/resources.html Internet Lists http://internet.com/sections/lists.html ISP Resources http://internet.com/sections/isp.html Downloads http://internet.com/sections/downloads.html International http://internet.com/sections/international.html Internet News http://internet.com/sections/news.html Internet Stocks/VC http://internet.com/sections/stocks.html ASP Resources http://internet.com/sections/asp.html Wireless Internet http://internet.com/sections/wireless.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ To find an answer - http://search.internet.com ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ For information on reprinting or linking to internet.com content: http://internet.com/corporate/permissions.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Copyright (c) 2000 internet.com Corporation ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ --- You are currently subscribed to isr-text as: [email protected] To unsubscribe send a blank email to [email protected]
In today's Daily Update, you'll find forward-looking research on Celera Genomics (CRA), Arena Pharmaceuticals (ARNA), Diversa (DVSA), Genome Therapeutics (GENE), Lynx Therapeutics (LYNX), Maxygen (MAXY) Ballard Power Systems (BLDP), FuelCell Energy (FCEL), H Power (HPOW), Hydrogenics (HYGS), United Technologies (UTX), Plug Power (PLUG) and much more. For free research, editor's picks, and more come to the Daily Investor: http://www.multexinvestor.com/magazinecover.asp?nd=0605#investor ************************************************************* You are receiving this mail because you have registered for Multex Investor. To unsubscribe, see bottom of this message. ************************************************************* ======================== Sponsored by ========================= Save your investing year! Profit from the inevitable monster Nasdaq comeback rally. ChangeWave has identified five NextGen leaders set to blow the lid off analysts estimates as the economy begins to recover NEXT quarter. Discover these five "first-movers" In FREE special report "Profiting from the Tech Comeback" at: http://www.changewave.com/b/6/mltx1/ =============================================================== Featured in today's edition of the Daily Update: 1. TODAY'S SPECIAL REPORT: Jefferies & Co. examines enterprise software's mass-market appeal and its challenges. 2. DAILY FREE SPONSOR REPORT: Morgan Stanley reiterates its rating on JDS Uniphase (JDSU). 3. FREE RESEARCH REPORT: Lehman Bros. projects there'll be more outperforming stocks among the cyclicals in its European "Recommended Portfolio." 4. ASK THE ANALYST: Market Edge's Tom Ventresca explains why his proprietary technical models are predicting a mixed market. 5. INDEPENDENT'S INVESTMENT REVIEW: The451 explains why after the tech boom, business-process outsourcing is corporate America's salvation. 6. WORD FROM OUR SPONSOR: American Century: International Investing 7. HOT REPORT: Jefferies & Co. provides an update on the industry and the public and private companies driving innovations. 8. INVESTORS' CHOICE: 3-DAY FAVORITE: Argus Research's team comments on the economy's outlook and the Fed's next moves, as well their impact on stocks. 9. EDITOR'S PICK: Friedman, Billings, Ramsey & Co. asks, "What is fair to expect of genomics, now and later?" 10. MESSAGE BOARDS: Looking for intelligent conversation? Stocks, funds, finance and hot topics are among the Sage possibilities. ======================== Sponsored by ========================= A special offer from Merrill Lynch Direct! Self-directed investors can access Merrill Lynch's research and market information and trade online from $29.95 per equity trade. Open an account and get $100. Click here to learn more. http://www.mldirect.ml.com/publish/public/offer.asp?medium=MUL0002& =============================================================== 1. TODAY'S SPECIAL REPORT The ideal environment for M&A -- Jefferies & Co. examines enterprise software's mass-market appeal and its challenges. The migration of e-business onto the Internet is being driven by functionality and economies of scale the firm claims as it projects the pace of "the mating dance" to speed up. Which are the likely candidates? (20-page report for purchase - $50). Click here. http://www.multexinvestor.com/download.asp?docid=20677910&nd=0605 2. DAILY FREE SPONSOR REPORT JDS Uniphase (JDSU) -- Morgan Stanley Stanley reiterates its rating on the optical component manufacturer. "We recognize that JDSU shares already reflect much of the industry's recent deceleration, but believe that four factors are not priced into the stock," the firm says and names those factors. Sign up for the firm's free-research trial to access the report. Click here. http://www.multexinvestor.com/download.asp?docid=4475777&sid=8&nd=0605 3. FREE RESEARCH REPORT Portfolio catch up in European stocks -- Lehman Bros. projects there'll be more outperforming stocks among the cyclicals in its "Recommended Portfolio." The firm explains that it "isolates those stocks that still look attractively valued but have (yet) responded," and replaces Peugeot, Electrolux, BASF, and NH Hoteles with four other "value" stocks. This report remains free for a limited time. Click here. http://www.multexinvestor.com/magazinecover.asp?nd=0605#investor 4. TODAY IN THE ANALYST CORNER Market review and forecast for June 2001 -- Market Edge's Tom Ventresca is expecting a mixed market through early July. Ventresca's technical models are predicting a short-term neutral environment for stocks. Where does he see support and resistance? He will be in the Analyst Corner only until 5 p.m. ET Tues., June 5, so be sure to ask your question now. Ask the analyst. Click here. http://www.multexinvestor.com/ACHome.asp?nd=0605 Get a "Second Opinion" before you make your next investment decision. Free offer from Market Edge. Click here. https://www.marketedge.com/Secure/Subscrib/MultexIntro.asp?Location=3 5. INDEPENDENT'S INVESTMENT REVIEW Business-process outsourcing (BPO) -- The451 explains why after the tech boom, BPO is corporate America's salvation. After network, infrastructure, e-business and offshore, BPO is reportedly the fastest-growing outsourcing market in information tech. The research names some heavy hitters and the industries likely to need them (2-page report for purchase - $5). Click here. http://www.multexinvestor.com/download.asp?docid=20776788&nd=0605 ======================== Sponsored by ========================= Win $25,000 in the Multex Investor Challenge -- Round 2 It's like a flight simulator for investors. The Multex Investor Challenge let's you manage a $100,000 virtual portfolio risk-free with a chance to win $25,000 and other GREAT prizes. http://www2.investmentchallenge.com/multex?promo=unl =============================================================== 6. WORD FROM OUR SPONSOR American Century: International Investing The thoughtful selection of international funds may help you diversify your investments and take advantage of growth available from markets around the world. Click here. http://www.americancentury.com/mi/article23.html?nd=0605 7. WHAT'S HOT? Fuel-cell technology -- Jefferies & Co. provides an update on the industry, and the public and private companies driving innovations. Everything you want to know about fuel cell tech and the companies behind it: Ballard Power Systems (BLDP), FuelCell Energy (FCEL), H Power (HPOW), Hydrogenics (HYGS), United Technologies (UTX), Plug Power (PLUG) (9-page report for purchase - $25). Click here. http://www.multexinvestor.com/download.asp?docid=20697260&nd=0605 8. INVESTORS' CHOICE: 3-DAY FAVORITE Responding to the U.S. growth recession -- Argus Research's team comments on the economy's outlook and its impact on select stocks. The report's authors pick Cisco (CSCO) as the "focus stock," evaluate 11 growth stocks, 10 value stocks and 6 utility stocks, and comment on the firm's latest ratings changes (40-page report for purchase - $10). Click here. http://www.multexinvestor.com/download.asp?docid=20689879&nd=0605 9. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE Biotech: the significance of the genome -- Friedman, Billings, Ramsey & Co. asks, "What is fair to expect of genomics, now and later?" This comprehensive report also scrutinizes the following stocks: Celera Genomics (CRA), Arena Pharmaceuticals (ARNA), Diversa (DVSA), Genome Therapeutics (GENE), Lynx Therapeutics (LYNX), and Maxygen (MAXY) (127-page report for purchase - $300). Click here. http://www.multexinvestor.com/download.asp?docid=20641575&nd=0605 10. MESSAGE BOARDS Catch the buzz on the boards at Sage Online If you're looking for lively, intelligent conversation, look no further. Stocks and funds A to Z, finance and hot topics are only a few of the Sage possibilities. Click here. http://multexinvestor.sageonline.com/page.asp?id=2904&ps=1&s=3&nd=0605 =================================================================== Please send your questions and comments to: mailto:[email protected] If you'd like to learn more about Multex Investor, please visit: http://www.multexinvestor.com/welcome.asp If you can't remember your password and/or your user name, click here: http://www.multexinvestor.com/lostinfo.asp If you want to update your email address, please click on the url below: http://www.multexinvestor.com/edituinfo.asp =================================================================== To remove yourself from the mailing list for the Daily Update, please REPLY to THIS email message with the word UNSUBSCRIBE in the subject line. To remove yourself from all Multex Investor mailings, including the Daily Update and The Internet Analyst, please respond with the words NO EMAIL in the subject line. You may also unsubscribe on the account update page at: http://www.multexinvestor.com/edituinfo.asp =================================================================== Please email advertising inquiries to us at: mailto:[email protected]. For information on becoming an affiliate click here: http://www.multexinvestor.com/Affiliates/home.asp Be sure to check out our other newsletters, The Internet Analyst and The Telecomm Analyst by Multex.com. The newsletters will inform, educate, and entertain you with usable investment data, ideas, experts, and info about the Internet and Telecommunications sectors. To see this week's issue, click here: http://www.theinternetanalyst.com or http://www.thetelecommanalyst.com
As you are aware, Enron utilizes temporary staffing services to satisfy staffing requirements throughout the company. For the past several months, a project team, representing Enron,s temporary staffing users, have researched and evaluated alternative Managed Services programs to determine which source would best meet our current and future needs in terms of quality, performance and cost containment objectives. The Business Unit Implementation Project Team members are: Laurie Koenig, Operations Management, EES Carolyn Vigne, Administration, EE&CC Linda Martin, Accounting & Accounts Payable, Corporate Beverly Stephens, Administration, ENA Norma Hasenjager, Human Resources, ET&S Peggy McCurley, Administration, Networks Jane Ellen Weaver, Enron Broadband Services Paulette Obrecht, Legal, Corporate George Weber, GSS In addition, Eric Merten (EBS), Kathy Cook (EE&CC), Carolyn Gilley (ENA), Larry Dallman (Corp/AP), and Diane Eckels (GSS) were active members of the Selection Project Team. As a result of the team,s efforts, we are pleased to announce the beginning of a strategic alliance with CORESTAFF,s Managed Services Group. This group will function as a vendor-neutral management entity overseeing all staffing vendors in the program scope. They will also provide a web based online technology tool that will enhance the ordering and reporting capabilities. The goal of our alliance with CORESTAFF is to make obtaining a temporary worker with the right skills and experience easier while protecting the best interests of the organization. We plan to implement Phase I of this improvement effective January 2, 2001. This Phase I of the implementation will encompass administrative/clerical temporary workers at the Houston locations only. If you currently have administrative/clerical temporary workers in your department, the enhancement will not affect their position. In an effort to preserve relationships, all current staffing vendors will be invited to participate in this enhanced program. CORESTAFF shares our commitment to minimize any disruptions in service during this transition. We expect to incorporate the administrative/clerical workers in Omaha, Seattle and Portland in Phase II, which is scheduled for February, 2001. The scope and timing of any additional phases will be determined after these two phases have been completed. Realizing the impact that the temporary workforce has in business today, we selected CORESTAFF,s Managed Services Group based on their exceptional management team, commitment to quality service, and creative solutions to our staffing needs. The relationship promises to offer Enron a cost effective and simple means for obtaining temporary employees. In the coming weeks, Enron and CORESTAFF,s Managed Services Group will be communicating to Enron,s administrative/clerical temporary staffing vendors about the new process. There are many benefits to this new Managed Services program, which are outlined on the attached page. More details on how to utilize CORESTAFF,s Managed Services program will be announced soon and meetings will be scheduled to demonstrate the reporting system and to meet the Managed Services team. What is Managed Services? CORESTAFF,s Managed Services program includes: ? Vendor-neutral management model ? Equal distribution of staffing orders to all staffing partners ? Web-based application with online ordering, data capture and customized reporting ? Benchmarking and performance measurement for continuous improvement ? Methodologies for accurate skill-matching and fulfillment efficiencies Key Benefits ? More vendors working on each order from the outset ) faster access to available talent pools ? Standardized mark-ups and fees to manage costs more effectively ? Online access to requisition status for users ? Robust databases offering managers enhanced tracking and reporting of temporary usage and expenditures ? Standard and customized reporting capabilities -- online ? Tenured, experienced Managed Services team on-site to assist users in accessing web site, identifying usage trends, preparing specialized reports, etc. Corestaff/Managed Services/Staffing Joseph Marsh ) Lead / Operations ([email protected]; 713-438-1400) Amy Binney, Sharon B. Sellers ) Operations Cherri Carbonara ) Marketing / Communications Cynthia Duhon )Staffing Partner management
Elizabeth: We followed up on our discussions last week regarding the consequences of a possible bankruptcy of a municipal counterparty and our ability to terminate and liquidate our positions in such event, without regard to the generally applicable automatic stay. Attached is a brief memo discussing this issue. The principal points to note are as follows: (1) Municipalities, if they were to file for bankruptcy, do so under Chapter 9 of the Bankruptcy Code ("BC")--e.g., Orange County, CA. (2) The "forward contract" exception to the automatic stay found in Sec. 556 of the BC presently is not explicitly made applicable to filings pursuant to Chapter 9. As you recall, Sec. 556 allows termination of a forward contract because of the commencement of a bankruptcy case notwithstanding the general prohibition for termination of executory contracts for such grounds in Sec. 365. This appears to have been an oversight when Sec. 556 was added to the BC in 1982 (according to the National Bankruptcy Review Commission) and probably has not been a "high on the agenda item" to correct due to the fact that Chapter 9 bankruptcies are relatively rare. (3) It appears that the other amendments to the BC dealing with forward contracts are applicable to Chapter 9, such as Sec. 362 (b) (6) which allows the non-defaulting party to setoff or settle without regards to the stay if there is an existing default other than an insolvency event. Also note that Colliers on Bankruptcy, the "Bible" in this area, suggests that one can nonetheless make the argument that the forward contract exception can be read to apply to Chapter 9 filings under present law (see also the discussion at (6) below)--although it is uncertain whether a bankruptcy court would accept this argument to effectively write something into the statute. (4) There currently is pending legislation that has been passed by both the House and the Senate (and is now the subject of a joint House/Senate Conference Committee) that would make it clear that the forward contract exception to the automatic stay shall apply to Chapter 9 bankruptcies. Adding Sec. 556 to Sec. 901 (the section delineating which sections are applicable to Chapter 9 bankruptcies) is not controversial and should survive the joint conference committee since similar provisions exist in both the House and Senate bills. These provisions are part of the overall legislation making fundamental changes in the BC (that has received a lot of press and which is controversial in terms of how it treats individual consumers filing for bankruptcy). Our sense, however, is that the bill will be passed and signed by President Bush. (5) Assuming the amendments to Chapter 9 filings are enacted, under the existing bills they would first become effective for bankruptcy cases filed after 180 days after the legislation is signed by the President. Thus, to the extent that ENA has existing contracts with municipalities, ENA would be permitted to exercise its termination and liquidation rights thereunder without regard to the automatic stay as long as the municipal counter party does not file within 6 months after the date the legislation is signed. (6) It is worth noting that the legislative committee reports describing the changes provide that Congress is "clarifying" that the forward contract provisions of the BC apply to municipal bankruptcies, noting that these provisions "by their terms are intended to apply to all proceedings under Title 11" (which includes Chapter 9 proceedings). The Senate Report goes on to say that: "Although sections...556...provide that they apply in any proceeding under the Bankruptcy Code, this subsection makes a technical amendment in chapter 9 to clarify the applicability of these provisions." (Emphasis added). Thus, this committee language would appear to support an argument that Sec. 556 applies to Chapter 9 bankruptcies under Congress's interpretation of existing law--obviously, the hoped for result from ENA's standpoint. (7) For your information, when Orange County, CA, filed for bankruptcy the County filed under Chapter 9. The investment pool that held the derivatives and other financial contracts initially also made a separate filing under Chapter 9. This filing was dismissed, essentially on the basis the investment pool was not eligible for relief under Chapter 9 because it did not qualify as a "municipality" and it had not been specifically authorized to file under Chapter 9. The dealers and brokerage houses terminated and liquidated their positions shortly after the initial filing, based on their belief that the investment pool's use of Chapter 9 was improper. Their terminations and liquidations were not undone. (8) Lastly, as mentioned above, you should note that even if Sec. 556 is not applicable to Chapter 9 filings under existing law, if ENA terminated a power contract with a municipality prior to the filing date for a reason other than the act of filing a bankruptcy petition (e.g., a bond downgrade; failure to post collateral; a cross default; the existence of a condition where the counterparty is "unable to pay its debts as they come due," etc.), ENA would be permitted to proceed with the liquidation of its position (and it could exercise any set off or settlement rights) without regard to the automatic stay. Hopefully, the pending legislation will be passed and the concern as to the applicability of Sec. 556 to municipalities will be completely eliminated within a relatively short period of time. In the interim, particularly during the upcoming summer (when prices in many locations will be highly volatile and certain parties' credit positions could fluctuate rapidly and materially in some cases, particularly if they are filling open positions in the spot market), it may make sense to alert our credit group to be particularly vigilant in their monitoring of the ongoing financial condition of our municipal counterparties so that we preserve as much flexibility as possible with respect to exercising our termination rights under the contracts on account of defaults other than the filing of a bankruptcy petition by or against our counterparty. Please give me (or Carl, 303 291-2630, or Jim, 303 291-2632) a call if you want to follow up on any of this. Thanks. John "This e-mail, including attachments, contains information that is confidential and it may be protected by the attorney/client or other privileges. This e-mail, including attachments, constitutes non-public information intended to be conveyed only to the designated recipient(s). If you are not an intended recipient, please delete this e-mail, including attachments and notify me by return mail, e-mail or by phone at 212 424-8125. The unauthorized use, dissemination, distribution or reproduction of the e-mail, including attachments, is prohibited and may be unlawful. John Klauberg LeBoeuf, Lamb, Greene & MacRae, L.L.P. 212 424-8125 [email protected] - bankr.wpd
Thank you for making your purchase online with Expedia.com, one of the safest places to shop for travel! For your protection, our security systems review purchases for potential credit card misuse. If any misuse of your credit card is identified, we will contact you before processing the transaction and issuing tickets; otherwise you can assume your e-ticket is confirmed. For flight check-in and departure information, please contact your airline directly. Your flight information appears below. It is also available online at the My Trips page at Expedia.com: http://expedia.com/pub/agent.dll?qscr=litn You can also make or review your car and hotel reservations from the same page. If you are thinking about changing your flights, you can use our Exchange Calculator to find out what change penalties apply and what the new fare would be: http://expedia.com/pub/agent.dll?qscr=ewvs&itid=23837335 Congratulations! You earned the following reward coupon with this purchase: 30% Off a Future American Airlines Flight. For more information, go to the My Rewards page. http://expedia.com/pub/agent.dll?qscr=rwds If you need to get in touch with us about your flights, send an e-mail message to [email protected], or simply reply to this message. You can also reach our customer service team 24 hours a day at 1 (800) EXPEDIA (1-800-397-3342). We're committed to providing you with the best travel service available anywhere, and we want to hear what you think. Please let us know how we're doing by filling out our online survey: http://expedia.com/daily/survey/survey.asp For information about your destination, please refer to our online guidebook, the Destination Guides: http://expedia.com/wg ---------------------------------------------------------------------- FLIGHT SUMMARY -------------------------------------------------------------------------------- E-Ticket Confirmed Itinerary Number: 12383733579 Round Trip Booking ID: 2BGN7O 2 adults USD 386.98 Taxes: USD 46.02 Total Cost: USD 433.00 Flight: from Houston, TX (IAH-Bush Intercontinental) to Miami, FL (MIA-Miami Intl.) Depart: 4-Jul-01 at 12:21 PM Arrive: 4-Jul-01 at 3:52 PM Depart: Houston (IAH), 4-Jul-01 at 12:21 PM Arrive: Miami (MIA), 4-Jul-01 at 3:52 PM Flight: American Airlines 985 Aircraft: Boeing 727-200 Meal Service: n/a Duration: 2hr 31mn Distance: 959 mi Economy/Coach Class Flight: from Miami, FL (MIA-Miami Intl.) to Houston, TX (IAH-Bush Intercontinental) Depart: 8-Jul-01 at 7:50 AM Arrive: 8-Jul-01 at 9:35 AM Depart: Miami (MIA), 8-Jul-01 at 7:50 AM Arrive: Houston (IAH), 8-Jul-01 at 9:35 AM Flight: American Airlines 393 Aircraft: MDC MD80 Meal Service: Snack Duration: 2hr 45mn Distance: 959 mi Economy/Coach Class ---------------------------------------------------------------------- Your E-ticket is confirmed. You will not receive a paper receipt, itinerary, or confirmation letter automatically. We suggest you keep a copy of this e-mail or print a copy of your itinerary for your records; it may also be useful when you check in at the airport. When you arrive at the airport on the day of your flight(s), give the ticket agent your last name, flight number and a government-issued photo identification to receive your boarding pass(es). Airlines require government-issued photo identification upon check-in, such as a driver's license or passport. For questions concerning this requirement, please contact the airline. A valid passport is required for international travel. Some countries also have visa and/or health requirements. Please check with the embassy of the country to which you are traveling or consult Expedia.com's Destination Guide: http://expedia.com/wg Have a great trip! Expedia.com Travel Team Don't just travel. Travel Right. http://www.expedia.com/ When you use the American Express Card, you will not be held responsible for unauthorized charges online.
United Way Scholars Press Conference, Today at 10:30 AM!!!! Come see your United Way dollars at work building the workforce of the future! Please join Jeff Skilling at a press conference today at 10:30 a.m. in Antioch Park to announce The United Way Scholars Program! Your contribution is helping to provide 50 local high school students with college scholarships and funding for middle and high school technology programs designed to reach thousands of students each year! USCAA Track & Field Championships, June 9, 2001 The Enron Running Club is seeking runners, sprinters, discus & shot put throwers, high jumpers and long jumpers to compete in the annual USCAA Track & Field Championships on Saturday, June 9th at Rice University. Participate in co-ed track relays & field events for all ages and abilities; showcase your energy and talents in a challenging, competitive, and fun environment; participate in an Enron tradition since 1994; experience teambuilding and camaraderie like never before! For more information or to sign up, contact Cindy Richardson at x3-4770 or sprint to: http://home.enron.com:84/erc/index.html Dad's Day 5K Join the Enron Running Club at the Dad's Day 5K and 1 Mile Family Walk benefiting The Prostate Cancer Research and Awareness scheduled for Saturday, June 2nd. If you're interested in running or volunteering your time, please contact Cindy Richardson at 713-853-4770 or Kelly Lombardi at 713-345-5841. For more information, run to: http://home.enron.com:84/erc/index.html. The Caladium plants that are in the huge plant pots throughout the Plaza are going to be replaced and will be available for purchasing TODAY for $4.00 in the Plaza by the up escalator from 11 a.m. to 12 p.m.. Wild@Work Brown Bag: Digging Up the Past: Archaeology at Armand Bayou Join Armand Bayou Nature Center Executive Director, Ephriam Dickson, as he explores the prehistoric sites of the Clear Lake area. Discover how archeologists reconstruct past cultures from the artifacts left behind and learn how the first residents of Houston made their living. [No shovels required.] When: Friday, June 8th, 11:30 AM to 12:30 PM Where: EB 5C2 Free Opera in the Park featuring Houston Grand Opera's Carmen, June 8-10! Houston Grand Opera's sensational Multimedia Modular Stage production returns for three FREE performances at Houston's Miller Outdoor Theatre on June 8-10 at 8:30 p.m. Bizet's fiery gypsy Carmen, everybody's favorite femme fatale, ignites the summer in a powerhouse production that had audiences and critics cheering when it was first unveiled in 1998. Houston Grand Opera's revolutionary Multimedia Modular Stage (MMS), with its giant "live" video screens, hydraulic platforms, and hundreds of rotating, colored lights takes the incredible energy onstage and transports it to the farthest reaches of the outdoor venue with a visceral impact equal to that of a rock concert! Tickets for the reserved seating will be issued between the hours of 11:30am and 1:00pm through the Miller Theatre box office on the day of the performance. Any remaining tickets will be issued one hour before the performance. For additional information, visit HGO's web site at www.houstongrandopera.org. Also see volunteer opportunities below. JOIN THE VOICES OF ENRON TO EXPAND YOUR COMMUNICATION SKILLS! MAKE NEW FRIENDS! EXPAND YOUR HORIZONS! ENHANCE YOUR COMMUNICATION SKILLS! LOSE THE FEAR OF PUBLIC SPEAKING! HAVE A GREAT TIME! Day: Thursdays Time: 11:30 a.m. - 12:30 p.m. Location: Enron Building For more information about The Voices of Enron, contact Melinda Pharms, Vice President, of Education via e-mail at <[email protected]> or by phone at 713/853-3866 - Internal Extension 33866 or Kathy Willard, Vice President, Membership at [email protected] <mailto:[email protected]>, phone No. 713/646-7341 - Internal Extension 67341 Dance for All Ball No Dance Partner Required! Saturday, June 9 First United Methodist Church 1320 Main St. at Clay 7-9pm: Dance Lessons by DanceArts http://www.danceartsballroom.com 9pm-12: Dancing! with Live Swing Band. . .Chuck's Trio! Cover Charge: Minimum $5 Donation (All Proceeds go towards Building Materials for Red Bird Project which aids the economically disadvantaged & elderly) FREE CHILDCARE AVAILABLE - Fun kid activities! For More Info: call 5-6528 Kevin Hannon, Boys & Girls Club board member, invites you to join Enron employee John Cote at a Boys & Girls Club summer camp. John and Kevin are looking for commitments from some dedicated ENRON men & women. SPREAD THE WORD - SPOUSES, FRIENDS & OFFICE COLLEAGUES WELCOME - LAST YEAR'S CAMP WAS A HUGE SUCCESS! Details below: WHAT: 2nd Annual Houston Boys and Girls Club Summer Camp Weekend with Enron's incredible volunteers! WHEN: Boys Camp Friday afternoon (3:00 - 6:00pm), June 22 through Sunday afternoon, June 24 --OR-- Friday afternoon (3:00 - 6:00pm), July 20 through Sunday afternoon, July 22 Girls Camp Friday afternoon (3:00 - 6:00pm), July 6 through Sunday afternoon, July 8 --OR-- Friday afternoon (3:00 - 6:00pm), July 13 through Sunday afternoon, July 15 WHERE: Willis, TX (75 minutes from downtown Houston -- just north of Conroe) WHO: 6-8 counselors per camp to chaperone 75 kids (ages 7-16) HOW: Share all sports activities, including canoeing, hiking, fishing, organizing a talent show/bonfire/ghost stories, obstacle course, water balloon fights, softball, basketball, archery, football, etc. (Cooking and clean-up covered by the Houston Boys & Girls Club staff.) CONTACT: John A. Cote at ext. 33830 Volunteers Needed for Bring Your Child to Work Day! Bring Your Child to Work Day is Friday, June 29 Please email Jennifer Milligan if you are interested in volunteering and indicate your preference in the below activities: Registration Table Houston Police Dept / Stranger Danger / Fingerprinting Outdoor Activities (SPCA pets, Balloon King, kids crafts, etc.) Business Etiquette class Business Art (kids' resumes, etc) Lunch ticket sales/coordination (in Antioch Park) WANTED! VOLUNTEERS FOR OPERA IN THE PARK Carmen, June 8-10, 2001 @ 8:30pm nightly Hermann Park's Miller Outdoor Theatre Following is a list of volunteer duties to be assigned daily. - Distribution of Stagebill programs with inserts of subscription forms and surveys one hour before the show begins. - Distribution of giveaways items such as fans and plastic cups prior to the performance. - Collection of surveys during intermission. If interested please contact LaShabriel Keys at 713.546.0283 or [email protected]. Check-in for volunteers will be at 6:30pm nightly at the Volunteer Information Tent near the Miller Outdoor Theatre stage. (Volunteers will receive tickets in the reserved seating section for the Carmen performance, free food, a t-shirt and a voucher for any matinee during the upcoming Opera season.) The Enron Running Club and the Houston Corporate Athletic Association are seeking volunteers to assist at the annual USCAA Track & Field Championships on Saturday, June 9th at Rice University. There are many volunteer opportunities requiring little or no experience including timers, scoring, lane judges, cheering on athletes and more! We are looking for employees, families and friends that can contribute a few hours or who are willing to spend the day benefiting a great cause. If you are interested or would like more information, please contact Kelly Lombardi at x3-8491. 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.
To: Mike Terraso Jeff Keeler Cc: Steve Kean Linda Robertson Rick Shapiro Catherine McKalip-Thompson From: Lisa Jacobson Re: Voluntary Approaches to Climate Change - Action in Congress & the Administration Date: April 30, 2001 In the current debate over how the U.S. should approach domestic and international climate change issues, focus has increased lately on exploring &voluntary8 approaches to reduce greenhouse gases. President Bush,s statements that the U.S. would not impose mandatory CO2 reductions on power plants as part of a multipollutant bill and his position that the U.S. should not move forward with work on the Kyoto Protocol (which contains actual commitments on emission reductions) have driven the discussion about voluntary programs and whether such programs can achieve significant results. Two articles (attached) appeared in the Washington Post over the weekend. The first, reported on an interview with Senate Minority Leader Tom Daschle (D-S.D.) where he said that he and other Democrats would be open to new approaches to address climate change, including voluntary compliance with greenhouse gas emission reduction goals. In response to strong criticism by environmentalists, a second article appeared on Sunday that backs away from those remarks and re-states his support for &binding measures8 to reduce greenhouse gas emissions. Both the Bush Administration and leaders on Capitol Hill are seeking Enron,s input on the structure and potential effectiveness of voluntary programs. As the Administration,s Climate Change Task Force is preparing its recommendations for a new U.S. proposal, our input is needed in the next few weeks. Experience with Voluntary Approaches - Back to the Future? The U.S. and other developed nations have acknowledged that significantly reducing greenhouse gas emissions will be extremely difficult through voluntary measures alone. It is not yet known whether the Bush Administration will propose a climate change plan that will result in lower atmospheric concentrations of greenhouse gases. However, it is unlikely that a U.S. proposal that calls for only voluntary measures will carry any credibility in the international debate. Clearly, industry opponents to carbon regulation do not seek a strong program, but as recent weeks suggest, Administration officials have differing views on objectives and approaches. Below are some recent examples of why voluntary plans in the past have not provided the desired results: 1) Under the Framework Convention on Climate Change, signed by former President Bush and subsequently ratified by the U.S. Senate, developed countries voluntarily agreed to return their greenhouse gas emissions to 1990 levels by the year 2000. By 1995, industrialized countries acknowledged that they were not on track to meet the voluntary goal, and initiated negotiations to adopt binding and quantifiable emissions reduction commitments. These negotiations resulted in the Kyoto Protocol,s targets and timetables, where industrialized nations committed to reduce their aggregate emissions to about 5 percent below 1990 levels between 2008 and 2012 and the U.S. agreed to a reduction of 7 percent below 1990 levels between 2008 and 2012. 2) On the domestic level, the 1992 Energy Policy Act directed DOE to develop a voluntary reporting program to collect information on activities to reduce greenhouse gas emissions. The aim of the &1605b8 program is to encourage voluntary emissions reductions. While some companies participate in the program, it has not yielded significant emissions reductions. Companies participate mostly to receive positive pubic relations benefits and to gain experience with inventories, reporting and verification. Many hope to be rewarded with credits for their voluntary action under a potential mandatory program. To encourage participation, 1605b provides wide flexibility on setting a baseline. It also allows for dual reporting of emissions reductions, self-certification of reductions and permits the entity to decide the level of reporting it undertakes. A 1998 GAO study said that EIA and other organizations agreed that many of the reductions reported under the voluntary reporting program would not qualify as &real, appropriately reviewed and verified8 emissions reductions. Congress has been considering how to strengthen the 1605b program for several years and will likely include provisions to do so in new climate change plans. 3) Chafee/Lieberman &Credit for Early Action8 legislation: In the 106th Congress, the debate centered around proposals to help U.S. businesses achieve &credit8 for voluntary actions to reduce greenhouse gases. The legislation never progressed, however, due to the difficulty in structuring a voluntary program. Concerns about granting credit against not-yet-created regulatory regimes, difficulty with setting baselines for determining which voluntary actions warrant credit, and political problems with links to international commitments all added to the bill,s demise. Opportunities for Enron Through our ongoing advocacy on domestic multipollutant strategies and our role as a respected source for information on how to structure market-based systems for emissions reductions, Enron is well situated to provide high-level input to the Administration and Congress toward developing credible energy and climate change proposals. In particular, we have a real opportunity to promote ideas that benefit Enron businesses - new generation, gas, energy efficiency, emissions trading and risk management - while handing the White House some ways to restore its credibility on climate issues. Enron,s input should continue to focus on mechanisms that will result in real reductions of greenhouse gas emissions, while providing full flexibility for companies and others to meet clear goals. We have already indicated to the Administration and others in initial discussions that voluntary measures could fit into a comprehensive package, but will likely fall short of environmental and international expectations. The Senate will be conducting several hearings in the coming weeks, and the White House,s Task Force will continue to meet and prepare its climate change proposal. Jeff and I will develop specific recommendations for the White House and Congress and circulate them with you and relevant Enron commercial groups. We will also incorporate discussion of these issues in an Enron-wide strategy meeting on emissions issues we are planning in May. Please do not hesitate to contact me if you have any questions. Lisa Jacobson Enron Manager, Environmental Strategies 1775 Eye Street, NW Suite 800 Washington, DC 20006 Phone: +(202) 466-9176 Fax: +(202) 331-4717
<HTML> <HEAD> <TITLE>PULP, WRITING & PRINTING PAPER 11/20/2001</TITLE> <base href="http://www.forestweb.com"> </HEAD> <BODY TOPMARGIN="0" LEFTMARGIN="20" MARGINHEIGHT="0" MARGINWIDTH="0" BGCOLOR="#ffffff"> <a name=top></a><img src="http://www.forestweb.com/digest/images/news/corps/197.gif"> <h4>PULP, WRITING & PRINTING PAPER 11/20/2001</h4><br clear=all> <DIV align=center> <p><table width="100%" border="3" cellspacing="0" cellpadding="10"> <tr> <td> <p><b><font face="Arial, Helvetica, sans-serif" size="-1" color="#000033">Welcome</font></b><font face="Arial, Helvetica, sans-serif" size="-1"> to Enron's Pulp, Writing & Printing Paper News Service. This daily mailing brings the most recent news headlines right to your inbox. You may also receive this daily service specific to the following areas: 1) Recovered, Container & Packaging; 2) Newsprint; 3) Lumber. To join any of these lists, <a href="http://www.forestweb.com/fwsnippets/mailinglists/enron_lists.html"> CLICK HERE</a>.</font></p> <p><font face="Arial, Helvetica, sans-serif" size="-1">If you have any comments or feedback, simply reply to this email. If you would like to unsubscribe to the Pulp, Writing & Printing Paper News service, please scroll to the bottom of this email for instruction.</font></p> <p><font face="Arial, Helvetica, sans-serif" size="-1">Thanks and enjoy.</font></p> </td> </tr> </table> </p> </DIV> <h4>Contents</h4> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP> <TD> <OL> <li> Westvaco to sell another 170,000 acres of timberland ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15466">More</a>...)</li> <li> Westvaco sees earnings, sales drop on weak demand and lower pricing ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15467">More</a>...)</li> <li> Mayr-Melnhof achieves 'best ever' interim results in first 9 months of 2001 ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15471">More</a>...)</li> <li> FOEX NBSK price moves marginally; U.S. newsprint unchanged ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15479">More</a>...)</li> <li> Abitibi to temporarily shut down 18 sawmills, affecting 5,000 workers ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15483">More</a>...)</li> <li> Forest Products Assn. of Canada names Avrim Lazar president and CEO ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15484">More</a>...)</li> <li> NYISO Approves Besicorp-Empire Electric Interconnection ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15485">More</a>...)</li> <li> Norske Skog completes sale of forest properties in Sweden, Norway ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#story15486">More</a>...)</li> </OL> </TD> </TR> </TABLE> <p><a name="story15466"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>Westvaco to sell another 170,000 acres of timberland </H3> <i>11/20/2001 05:15:32, BW</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> STAMFORD, Conn., Nov. 20, 2001 (press release) -- As part of an on-going review of its forestland holdings, Westvaco Corporation today announced plans to divest an additional 170,000 acres over the next two to three years. With this additional acreage, the company has identified a total of 450,000 acres for divestiture since 1999. Of that total, the company had sold about 120,000 acres through the end of October 2001 and realized net proceeds of $66 million. ...<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15466&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15467"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>Westvaco sees earnings, sales drop on weak demand and lower pricing</H3> <i>11/20/2001 05:21:42, BW</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> STAMFORD, Conn., Nov. 20, 2001 (press release) -- Westvaco Corporation today reported earnings before non-recurring items for the fiscal fourth quarter of $36.3 million ($.36 per share) and fiscal 2001 earnings of $109.6 million ($1.09 per share). ...<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15467&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15471"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>Mayr-Melnhof achieves 'best ever' interim results in first 9 months of 2001</H3> <i>11/20/2001 07:42:28, Press Release</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> VIENNA, Nov. 20, 2001 (press release) -- <p> STRONG INCREASE IN RESULTS FOR THE FIRST NINE MONTHS OF 2001 DESPITE DECLINE IN 3RD QUARTER<p> ? Weakening demand necessitates on-going curtailment o...<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15471&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15479"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>FOEX NBSK price moves marginally; U.S. newsprint unchanged</H3> <i>11/20/2001 10:25:16, Forestweb</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> SAN FRANCISCO, Nov. 20, 2001 (Forestweb) ?-- The PIX price of northern bleached softwood kraft (NBSK) in Europe has increased marginally, by $0.92/tonne, to $468.64/tonne, according to FOEX Indexes Ltd. ...<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15479&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15483"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>Abitibi to temporarily shut down 18 sawmills, affecting 5,000 workers</H3> <i>11/20/2001 12:11:54, CNW</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> MONTREAL, Nov. 20, 2001 (press release) -- Abitibi-Consolidated announced today that it will shutdown its sawmills and related forestry operations for an average four- week period between the end of November and the middle of January 2002. ...<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15483&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15484"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>Forest Products Assn. of Canada names Avrim Lazar president and CEO</H3> <i>11/20/2001 12:15:35, Press Release</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> <p> MONTREAL, Nov. 20, 2001 (press release) ? The Board of Directors of the association representing Canada?s forest products companies has appointed Mr. Avrim Lazar as President & CEO, effective Ja...<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15484&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15485"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>NYISO Approves Besicorp-Empire Electric Interconnection</H3> <i>11/20/2001 12:24:00, BW</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> KINGSTON, N.Y., Nov. 20, 2001(Press Release/BW) --Besicorp-Empire Development Company, LLC (the "Company") received approval of its System Reliability Impact Study ("SRIS") for the electric interconnection of the project the Company plans to construct in the City of Rensselaer, New York. Approval of the SRIS was received from the Operating Committee ("OC") of the New York Independent System Operator ("NYISO") upon recommendations from the Transmission Planning Advisory Subcommittee ("TPAS") and NYISO technical staff....<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15485&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <p><a name="story15486"></a> <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR VALIGN=TOP ALIGN=LEFT> <TD> <h3>Norske Skog completes sale of forest properties in Sweden, Norway</H3> <i>11/20/2001 12:33:58, Press Release</i> <br><br></TD> </TR> <TR VALIGN=TOP ALIGN=LEFT> <TD> OXENOEN, Norway, Nov. 20, 2001 (press release) -- Norske Skog has concluded agreements concerning the sale of about 85 per cent of its forest properties in Sweden. The contracts have been arranged at satisfactory prices. The sale of the Group's Swedish properties is expected to be completed by the end of the year....<br> (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15486&_UserReference=B9CFB399ABCEACF53BFACD57">Story...</a>) </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT> </TD></TR> <TR VALIGN=TOP ALIGN=RIGHT><TD ALIGN=RIGHT><A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2121&_UserReference=B9CFB399ABCEACF53BFACD57#top"><IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"></A> </TD></TR> </TABLE> <HR> <br clear=all> <DIV align=center> <p><table width="100%" border="3" cellspacing="0" cellpadding="10"> <tr> <td><font face="Arial, Helvetica, sans-serif" size="-1">To unsubscribe from the Pulp, Writing & Printing Paper News, click on <a href="mailto:[email protected]?subject=unsubscribe%20enronpulp">UNSUBSCRIBE</a> and simply send the corresponding email. </font></td> </tr> </table> </p> </DIV> <br clear=all> <DIV align=center> <h5 >All news reports are copyrighted by the respective authors.<BR> powered by Forestweb</h5> </DIV> </BODY> </HTML>
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 10/23/2000 07:49 PM --------------------------- "SOCORRO HERNANDEZ" <[email protected]> on 10/23/2000 04:02:22 PM To: <[email protected]>, <[email protected]>, <[email protected]>, "A. SUE GONZALES-GUEVARA" <[email protected]>, "CATHERINE BROWN" <[email protected]>, "JESSICA VEGA" <[email protected]>, "MARIA THOMPSON" <[email protected]>, "SANDRA ARRIAGA" <[email protected]>, "VIVIAN FARRELL" <[email protected]>, <[email protected]> cc: Subject: Fwd: Funny Content-Transfer-Encoding: quoted-printable Received: from gateway.llgm.com ([10.4.218.25]) by LLGM.COM; Mon, 23 Oct 2000 16:37:00 -0400 Received: from gateway.llgm.com (root@localhost) by gateway.llgm.com with ESMTP id QAA18681 for <[email protected]>; Mon, 23 Oct 2000 16:37:30 -0400 (EDT) Received: from chi6-1.relay.mail.uu.net (chi6-1.relay.mail.uu.net [199.171.54.98]) by gateway.llgm.com with ESMTP id QAA18677 for <[email protected]>; Mon, 23 Oct 2000 16:37:29 -0400 (EDT) Received: from taz.ci.santa-ana.ca.us by chi6sosrv11.alter.net with SMTP (peer crosschecked as: [63.73.85.2]) id QQjmes03411; Mon, 23 Oct 2000 20:37:24 GMT Received: from no.name.available by taz.ci.santa-ana.ca.us via smtpd (for chi6-1.relay.mail.uu.net [199.171.54.98]) with SMTP; 23 Oct 2000 12:34:16 UT Received: by exchange-1.ci.santa-ana.ca.us with Internet Mail Service (5.5.2650.21) id <VF68A1W1>; Mon, 23 Oct 2000 13:41:03 -0700 Message-ID: <4A474A25FA23D4118DF00090278A3A549EAE0A@exchange-1.ci.santa-ana.ca.us> From: "Hernandez, Eva" <[email protected]> To: "'Banda, Maria'" <[email protected]>, "Rosas, Jaime" <[email protected]>, "'Harold Pyun'" <[email protected]>, "'Ms. VJ R.'" <[email protected]>, "'Trang Nguyen'" <[email protected]>, "Trejo, Roberto" <[email protected]>, "'Dong, Lonnie'" <[email protected]>, "'James, Lacretia'" <[email protected]>, "Sullivan, Laura" <[email protected]>, "'Macmillan, Diane'" <[email protected]>, "'[email protected]'" <[email protected]>, "'Mujica, Martha'" <[email protected]>, "Jacquez, Patricia" <[email protected]>, "Armour, Sheila" <[email protected]>, "'SOCORRO HERNANDEZ'" <[email protected]>, "'Thuy (Michelle) Nguyen'" <[email protected]>, "Ahearn, Stephen" <[email protected]> Subject: Funny Date: Mon, 23 Oct 2000 13:41:01 -0700 X-Mailer: Internet Mail Service (5.5.2650.21) Mime-Version: 1.0 Content-Type: text/plain; charset=US-ASCII Content-Disposition: inline OR IS IT FUNNY? Funny how simple it is for people to trash God ... and then wonder why the world's going to hell. Funny how we believe what the newspapers say, but question what the Bible says. Funny how everyone wants to go to heaven provided they do not have to believe, think, say, or do anything the Bible says. Or is it scary? Funny how someone can say "I believe in God" but still follow Satan (who, by the way, also "believes" in God). Funny how you can send a thousand 'jokes' through e-mail and they spread like wildfire, but when you start sending messages regarding the Lord, people think twice about sharing. Funny how the lewd, crude, vulgar and obscene pass freely through cyberspace, but the public discussion of Jesus is suppressed in the school and workplace. Funny, isn't it? Funny how someone can be so fired up for Christ on Sunday, but be an invisible Christian the rest of the week. Are you laughing? Funny how when you go to forward this message, you will not send it to too many on your address list because you're not sure what they believe, or what they will think of you for sending it to them. Funny how I can be more worried about what other people think of me than what God thinks of me. Are you thinking? I'm thinking and I have the courage to send this...do you?
NETWORK WORLD NEWSLETTER: DAVE KEARNS on NOVELL NETWARE 10/16/01 - Today's focus: Gadgets a go-go Dear Wincenty Kaminski, In this issue: * Useful utilities at Gadget Factory * Links related to Novell NetWare * Featured reader resource _______________________________________________________________ This newsletter sponsored by Novell With NetWare 6, your network is just a browser away. You've read all the great reviews about how you can access your file, print and other storage resources from any browser anywhere with NetWare6. To get updated product information and downloads, visit http://nww1.com/go/3421906a.html _______________________________________________________________ SO, WHAT DO YOU THINK? Give us your opinion on 5 different banner advertisements and enter to win $500! Take the Banner Concepts survey at http://www.rresults.com/bannerconcept/index.cgi _______________________________________________________________ Today's focus: Gadgets a go-go By Dave Kearns We've talked about helpful tools and utilities lately, and a number of readers drew my attention to The Gadget Factory. Now, maybe I'm the last person in the world to have heard of it - but if it is new to you too, then you need to check it out as soon as you can. The Gadget Factory (http://www.gadgetfactory.com) is an Australian operation that produces shareware network utilities for both NetWare- and Windows-based networks. All of the Factory's products are available as evaluation copies, which can be turned into full versions by registration (and paying a small fee, typically US$20 or $25 for a single-user version). As I mentioned in last week's "Useful utilities" newsletter, I really like tools that do one thing and do it well. Gadget Factory has a number of tools that fit that description. I really like tools that do one thing and do it well (see: http://www.nwfusion.com/newsletters/netware/2001/01047621.html). One good example is DSpace. DSpace lets network managers find disk space usage problems quickly and easily. In a NetWare 3.x environment, DSpace will list all the users in the Bindery, along with how much space they are using, while in an Novell Directory Services tree you can select any part of the tree and DSpace will report all the users from that point down. DSpace can be used on NetWare 5.x NSS volumes, as well as traditional volumes. The Factory's latest utility is NWEXPLORE, a Windows Explorer style program designed to provide specific NetWare information quickly and easily. It can display the total size of directories without having to count each file and subdirectory. Trustee assignments can be quickly and easily viewed, granted and adjusted. Directory quotas also can be viewed and modified. There are a half dozen other utilities that are useful to at least some of you - such as WhoHasIt, which quickly shows you which users have a particular file open. Check out the entire collection. Download the evaluations and try them on your network - I'll bet there's at least one you'll want to buy. News flash: In a Novell NetWare newsletter that was sent earlier this month and headlined "Is NetWare safe from would- be hackers?" we discussed how NetWare could be open to attacks. In this week's issue of Network World, senior editor Deni Connor, delves deeper into this subject and details the best practices for securing your network. You can read her article at http://www.nwfusion.com/archive/2001/126214_10-15-2001.html _______________________________________________________________ To contact Dave Kearns: Dave Kearns is the Word Wrangler for Virtual Quill, a writing agency serving the computer and networking industries. If your target customer doesn't know your product, doesn't know its uses and doesn't know he needs it, he's not going to buy it. From books to reviews, marketing to manuals, VQ can help you and your business. Virtual Quill - "words to sell by..." Find out more at: http://www.vquill.com/, or by e-mail at mailto:[email protected]. _______________________________________________________________ RELATED EDITORIAL LINKS Beta testers give Novell's NetWare 6 positive marks Network World, 10/15/01 http://www.nwfusion.com/archive/2001/126256_10-15-2001.html Breaking Novell and NetWare news, updated daily: http://www.nwfusion.com/news/financial/novell.html Archive of the Novell NetWare newsletter: http://www.nwfusion.com/newsletters/netware/index.html ______________________________________________________________ FEATURED READER RESOURCE Audio Primers Are you behind on the basics of technologies such as ATM, IP Multicast and VPNs? Check out our library of audio primers - quick explanations of networking topics and technologies, including IPv6, SANs and DSL vs. cable. These less-than-10- minute primers will not only explain how these technologies work, but they'll also show you through slides and diagrams. http://www.nwfusion.com/primers/index.html _______________________________________________________________ May We Send You a Free Print Subscription? You've got the technology snapshot of your choice delivered at your fingertips each day. Now, extend your knowledge by receiving 51 FREE issues to our print publication. Apply today at http://www.nwwsubscribe.com/nl _______________________________________________________________ SUBSCRIPTION SERVICES To subscribe or unsubscribe to any Network World e-mail newsletters, go to: http://www.nwwsubscribe.com/news/scripts/notprinteditnews.asp To unsubscribe from promotional e-mail go to: http://www.nwwsubscribe.com/ep To change your e-mail address, go to: http://www.nwwsubscribe.com/news/scripts/changeemail.asp Subscription questions? Contact Customer Service by replying to this message. Have editorial comments? Write Jeff Caruso, Newsletter Editor, at: mailto:[email protected] For advertising information, write Jamie Kalbach, Fusion Sales Manager, at: mailto:[email protected] Copyright Network World, Inc., 2001 ------------------------ This message was sent to: [email protected]
[IMAGE] wine.com [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] In This Email -Exclusive Special from Leeuwin Estate -Time's Running out for the Super Sale -Great Wines -That's a Heap - Big Syrah, Kimosabe -Wine Team Picks: Burke Owens on Surrendering to Pink -Free Economy Shipping From Cooking.com Spotlight on Leeuwin Estate In 1972, Robert Mondavi journeyed to the Southern Hemisphere in search of "the best vineyard land in the world." When he visited a former cattle ranch near Margaret River in Western Australia, he found what he'd been looking for. He subsequently helped owner Denis Horgan to develop what has since become one of Australia's great vineyards: Leeuwin Estate. Wine Spectator magazine awarded 15 of Leeuwin's 1980-1996 Chardonnays and Rieslings 90+ scores. To introduce wine.com subscribers to the wines of Leeuwin Estate, this week we're spotlighting its famous white wines: the stunningly complex, highly sought-after 1996 Estate Chardonnay -- awarded 92 points by the Spectator and now approaching its peak -- and back-to-back vintages of the bright, crisp, fruit-and-mineral-infused 1998 Estate Riesling and 1999 Estate Riesling. Purchased individually, the prices of these wines add up to $99, but this week only, we're offering the package of three for $75 exclusively to our newsletter subscribers. Click here to discover the world-class wines of one of the planet's most exciting regions. [IMAGE] Time's Running out for the Super Sale Only one week remains on the wine.com Super Sale! Prices of prearranged 3-packs, 6-packs, and 12-packs are reduced beyond what the discounted bottles would cost individually, and if you build your own case of single-bottle selections, you'll receive our standard 10 percent discount on top of the individual sale prices. The more you buy, the more you save. So do whatever you gotta do, because there's no tomorrow come March 27. To learn more about each item listed below, simply click on its name. Great Wines [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] 1998 Clos du Caillou Cotes du Rhone Blanc Les Roches Rondes Cuvee Roussanne, Southern Rhone, France, $22.00 1998 Clos du Caillou Cotes du Rhone Blanc Les Roches Rondes Cuvee Roussanne, Southern Rhone, France, $22.00 Get acquainted with the Rhone's other great white winegrape. [IMAGE] 1998 Dom. des Entrefaux Crozes-Hermitage, Rhone, France $14 1998 Dom. des Entrefaux Crozes-Hermitage, Rhone, France $14 An aromatic and inviting red from the northern Rhone Valley produced entirely from Syrah. [IMAGE] [IMAGE] [IMAGE] 1999 Clos Petite Bellane Cotes du Rhone Ros,, Southern Rhone, France, $12.00 1999 Clos Petite Bellane Cotes du Rhone Ros,, Southern Rhone, France, $12.00 Dry ros, for everything from herb-roasted chicken to seared ahi. [IMAGE] Dom. J. Laurens Cremant de Limoux Blanc de Blancs Brut, Languedoc-Roussillon, France, $11.00 Dom. J. Laurens Cremant de Limoux Blanc de Blancs Brut, Languedoc-Roussillon, France, $11.00 A crisp sparkling wine that won't break the bank. [IMAGE] [IMAGE] [IMAGE] 1998 Barberani Orvieto Classico Castagnolo, Umbria, Italy, $13.00 1998 Barberani Orvieto Classico Castagnolo, Umbria, Italy, $13.00 A refreshing white for the oak-weary among us. [IMAGE] Two to Tango, $24.00 Two to Tango, $24.00 Don't sip these two wines by yourself. Remember, it takes two to tango. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Search our site for other great wines: [IMAGE] Red WinesCabernet SauvignonMerlotZinfandelWhite WinesChardonnayBubbly WinesRare WinesWhat's NewSamplersSpecialsPeter's PicksBang for the BuckWineries [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] That's a Heap-Big Syrah, Kimosabe Return with us now to those thrilling days of yesteryear. Out of the past come the thundering hoof beats of a fiery horse with the speed of light, a cloud of dust, and a hearty hi-yo.... The Rhone Rangers are riding again from 2 to 5 p.m. on Saturday, March 31, when their fourth annual wine tasting takes place in the Festival Pavilion at San Francisco's Fort Mason. The Rhone Rangers is a nonprofit organization dedicated to educating the public about wines made from Rhone grapes grown in the United States. To American wine drinkers, this will largely mean Syrah, but the Rangers recognize a total of 23 grape varieties that are allowed in French Cotes du Rhone, including Grenache, Mourvedre, Carignan, Cinsault, Marsanne, Roussanne, and Viognier. Rhone grapes have been grown in the United States for 100 years, but their status has risen dramatically in the last decade. Beginning in the 1980s, a loose-knit group of nonconformist winemakers, apparently bored with Chardonnay and Cabernet Sauvignon (and aware that California has a Mediterranean climate), began experimenting with Rhone varietals, and by 1991 there were 19,000 acres of Roussanne, Viognier, Carignan, Grenache, Mourvedre, and Syrah planted. In 1997, 13 wineries banded together to form the Rhone Rangers, and the following year, 43 producers poured their wines for 1,000 people at the group's first public tasting. Today the number of member wineries has increased tenfold, including members from such decidedly non-Mediterranean locales as Washington, Idaho, and Virginia. Meanwhile, the number of attendees at the tasting has tripled. Wines poured at the event must contain at least 75 percent Rhone varieties, but beyond that regulation, variety rules. Not only is there a choice of white wines (Marsanne, Roussanne, and Viognier) in addition to reds (Syrah, Grenache, Mourvedre, Carignan, Cinsault), but there's also a selection of dry ros,s, a much-loved Rhone staple. "We suggest that people figure out [beforehand] how they want to approach the tasting," advises Executive Director John Hardman. "You might just want to taste Syrah, or maybe only Roussanne or Marsanne. You wouldn't normally go back and forth between red and white, but it's fairly easy to clear your palate with all the food we have there. And we put out plastic cups so people can spit." Admission is $45 in advance and $60 the day of the tasting. For more information, call the Fort Mason box office at (415) 441-3687 or log onto www.RhoneRangers.com. In the meantime, check out the selection of Rhone and Rhone-style wines on wine.com. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Wine Team Picks: Burke Owens on Surrendering to Pink Unlike my daughter Rose, I've never been particularly attracted to the color pink. However, when it comes to wine, I make an exception. After all, some of my favorite Champagnes -- rich, crisp, and intensely aromatic -- are ros,s, and nonbubbly pink wines are absolutely wonderful with food. You will quickly find this out by slicing ripe tomatoes and fresh mozzarella, layering them on an open-faced baguette, seasoning with salt, pepper, olive oil, and a touch of garlic, and covering all with a chiffonade of fresh basil. This combination is downright yummers with a cool glass of dry ros,. Pink wines are so thirst quenching, in fact, that I find it's always a good idea to keep a couple around the house. For example: 1999 Andrew Rich Pinot Noir Ros,, Willamette Valley, Oregon, $11.00 1998 Domaines Bunan Bandol Ros, Moulin des Costes, Provence, France, $16.00 1999 Dom. de la Noblaie Chinon Rose, Loire Valley, France, $12.00 Billecart Salmon Champagne Ros,, France, $57.99 1988 Laurent Perrier Champagne Ros, Cuvee Alexandra Grand Siecle, France, $129.95 [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Take wine.com with you wherever you go. Download our channel from AvantGo to your PDA today. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] From our Partner... Cooking.com Free Economy Shipping From Cooking.com Visit Cooking.com for the latest repertoire of kitchenware, barware, gourmet foods and gifts. For a limited time, receive Free Economy Shipping with a purchase of $75 or more. Click here for details. [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Copyright and copy; 1994-2001 wine.com, Inc. To UNSUBSCRIBE FROM THIS NEWSLETTER, go to: http://wine1.m0.net/m/u/vin/vv.asp?e=jdasovic%40enron.com ? ? [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE]
Congratulation, Pat. And the very best of luck. See you soon. Best, Jeff Pat Bukowski <[email protected]> on 09/15/2000 06:35:07 PM To: Tim Schearer <[email protected]>, "'Anil Rao'" <[email protected]>, "'Karen Vinson'" <[email protected]>, "'Sasha'" <[email protected]>, Bill Vandouris <[email protected]>, Frank Orem <[email protected]>, Keith Kirton <[email protected]>, Ken MacLennan <[email protected]>, Kiat Ang <[email protected]>, Lilly Chan <[email protected]>, Mark Grossenbacher <[email protected]>, Ray Louis <[email protected]>, Rob Grossenbacher <[email protected]>, Ronald Creswell <[email protected]>, Shelley Weise <[email protected]>, Tom McDermott <[email protected]>, VTA Project File <[email protected]>, Will Chiang <[email protected]>, Brian Yu <[email protected]>, Carolyn Vavrek <[email protected]>, Charlotte Kwon <[email protected]>, Chris Loveys <[email protected]>, Court Herschelman <[email protected]>, Dad and Jo Bukowski <[email protected]>, Dan Dickey <[email protected]>, Dave Klepper <[email protected]>, Dave Klepper <[email protected]>, David Bukowski <[email protected]>, Dennis Echelberger <[email protected]>, Dennis Sidbury <[email protected]>, Diane Dimeff <[email protected]>, Eve and Pat <[email protected]>, Eve Grossman-Bukowski <[email protected]>, Gary Krock <[email protected]>, Gary Krock <[email protected]>, Heidi Klein <[email protected]>, Jaya Kumar <[email protected]>, Jeannine S Wong <[email protected]>, Jeannine Wong <[email protected]>, Jeff Dasovich <[email protected]>, Jim Seybold <[email protected]>, "Joachim Kr_ger" <[email protected]>, "Jody A. Triandiflou" <[email protected]>, Jody Triandiflou <[email protected]>, Joe Wallach <[email protected]>, John and Theresa Errico <[email protected]>, John Morel <[email protected]>, Jonathan Hudacko <[email protected]>, "Josovitz, Helene" <[email protected]>, Joyce A Yeich <[email protected]>, Kelly Davis <[email protected]>, Ken Huang <[email protected]>, Kirsten Michner <[email protected]>, Kris Leto <[email protected]>, "Lamoreaux, Ben" <[email protected]>, Linda Sipling <[email protected]>, "Lisa Carter(?) Schmenke" <[email protected]>, Lisa J Larry <[email protected]>, Lisa Larry <[email protected]>, Luther and Theresa Miller <[email protected]>, Mahvash Armand <[email protected]>, Matt S Leto <[email protected]>, "Maxim S." <[email protected]>, Meg63 <[email protected]>, Melissa Campbell <[email protected]>, Michael Shi <[email protected]>, Mike <[email protected]>, Mike & Dina Roth <[email protected]>, Mike Bukowski <[email protected]>, Mike Bukowski <[email protected]>, Mike Dallas <[email protected]>, "Mizani, Bita" <[email protected]>, Pat Bukowski <[email protected]>, Paul Ledwitz <[email protected]>, Rabbi Raj <[email protected]>, Rich & Dori Barkby <[email protected]>, Richard Hannigan <[email protected]>, Ron & Wendy Creswell <[email protected]>, Ron Creswell <[email protected]>, Scott Boyle <[email protected]>, Scott Sipling <[email protected]>, Shawne Robinson <[email protected]>, Shirley Grossman <[email protected]>, Steve & Barbara Hladik <[email protected]>, Steve Gregory <[email protected]>, Tim Iseminger <[email protected]>, Wendell Mercer <[email protected]>, Will Chiang <[email protected]> cc: Subject: Parting is such sweet sorrow... Dear friends. family and colleagues, My last day at ACEx Technologies, Inc. has come. Yes, I'm moving on ... to Clorox, also in Oakland, CA. I will be a Project Manager in the Information Services department. Please replace my e-mail address with the following address: [email protected] I hope to hear from you all soon at my new address! Pat Bukowski
If is was an ENA deal, the Dec. 3 is correct post-petition date. I don't have anything on my list from TDC. Won't hurt to call them anyway. Kay -----Original Message----- From: Germany, Chris Sent: Wednesday, March 06, 2002 11:13 AM To: McMichael Jr., Ed; Mann, Kay Cc: Dicarlo, Louis; Dhont, Margaret; Polsky, Phil; Boyt, Eric; Parks, Joe Subject: FW: Letter re Unpaid Invoice for Post petition Deliveries Summary: TDC Energy Corporation is requesting payment of $203,196.00 from ENA for post-petition gas that flowed in the month of December 2001 (sitara deal #1143983). TDC stated that it would "file a claim for administrative expenses in the bankruptcy court in New York and seek all other necessary relief against ENA" if ENA did not remit payment by the close of business Feb 22, 2002. Based on the information in this email it appears that ENA should pay TDC $203,196.00. Kay, Ed, Question: I have not contacted TDC to determine if they have filed a claim with the court. Would that have any impact on making a payment to TDC? Should I contact TDC? Calculation of Post-Petition Payment using Dec 3 as Post-Petition day Gas scheduled Dec 3-24, 26-31 = 28 days, volume = 3,000 dth per day 28 x 3,000 x $2.419 = $203,196.00 -----Original Message----- From: Olinger, Kimberly S. Sent: Thursday, February 28, 2002 4:35 PM To: Germany, Chris Subject: RE: Letter re Unpaid Invoice for Post petition Deliveries we took 3000 a day everyday except the 25th -----Original Message----- From: Germany, Chris Sent: Thursday, February 28, 2002 4:26 PM To: Olinger, Kimberly S. Subject: FW: Letter re Unpaid Invoice for Post petition Deliveries I need your expertise. If ENA nominated this gas, and I think we did based on what I see in Unify, then we are supposed to pay for it. So I just need to verify with you we TOOK this gas by nominating it. Deal 1143983 on Natural Gas Pipeline Company. thanks -----Original Message----- From: Ellenberger, Mary Sent: Monday, February 25, 2002 4:01 PM To: Germany, Chris Subject: RE: Letter re Unpaid Invoice for Post petition Deliveries Sitara# 1143983 -----Original Message----- From: Germany, Chris Sent: Monday, February 25, 2002 1:21 PM To: Ellenberger, Mary Subject: FW: Letter re Unpaid Invoice for Post petition Deliveries Do you have a deal number for this gas? -----Original Message----- From: Dicarlo, Louis Sent: Monday, February 25, 2002 11:30 AM To: Germany, Chris Subject: FW: Letter re Unpaid Invoice for Post petition Deliveries -----Original Message----- From: Dicarlo, Louis Sent: Friday, February 22, 2002 10:30 AM To: Mann, Kay Subject: RE: Letter re Unpaid Invoice for Post petition Deliveries I contacted Mary Ellenberger. She indicated we did receive the gas but have not paid. I suggested that she contact you via email. -----Original Message----- From: Mann, Kay Sent: Friday, February 22, 2002 9:50 AM To: Dicarlo, Louis Cc: McMichael Jr., Ed; Boyt, Eric Subject: RE: Letter re Unpaid Invoice for Post petition Deliveries Have we determined if the facts in the letter are correct? I've confirmed that if the facts are true, the payment needs to be made. Kay -----Original Message----- From: Mann, Kay Sent: Wednesday, February 20, 2002 5:19 PM To: Dicarlo, Louis Cc: McMichael Jr., Ed; Boyt, Eric Subject: RE: Letter re Unpaid Invoice for Post petition Deliveries All I need to know is if ENA received the gas as stated, and if there are any extenuating circumstances which would keep us from paying. Otherwise I believe we need to make payments in accordance with the terms of the deal. I'll confirm. Kay -----Original Message----- From: Dicarlo, Louis Sent: Wednesday, February 20, 2002 5:14 PM To: Panus, Stephanie; Mann, Kay Cc: McMichael Jr., Ed; Boyt, Eric Subject: FW: Letter re Unpaid Invoice for Post petition Deliveries Attached is a demand letter w/ short time fuse. Counterparty wants payment for post-petition gas delivered to Enron. Please advise if you need commercial involvement. Thanks -----Original Message----- From: Louis Schott <[email protected]>@ENRON Sent: Wednesday, February 20, 2002 4:07 PM To: Dicarlo, Louis Subject: Letter re Unpaid Invoice for Post petition Deliveries - February 19 2002letter to enron north america.DOC << File: February 19 2002letter to enron north america.DOC >>
Part 3 Big 12 Roundup Nebraska ran its home winning streak to 20 games and ended Oklahoma's string of 20 straight victories Saturday in Lincoln. Nebraska continues to lead the Northern Division with a perfect record, but Oklahoma fell into a three-way tie with Texas and Texas A&M in the Big 12 South at 4-1. The most important game this week has Texas A&M playing at Texas Tech. The Red Raiders have been hard for the Aggies to handle in Lubbock in recent years. SOUTHERN DIVISION STANDINGS Conference Season W L PF PA Pct. W L PF PA Pct. Oklahoma 4 1 133 87 .800 7 1 235 127 .875 Texas 4 1 166 61 .800 7 1 304 108 .875 Texas A&M 4 1 113 93 .800 7 1 203 140 .875 Texas Tech 2 3 170 155 .400 4 3 254 199 .571 Oklahoma State 0 4 76 135 .000 2 5 139 175 .286 Baylor 0 5 53 201 .000 2 5 93 217 .286 NORTHERN DIVISION STANDINGS Conference Season W L PF PA Pct. W L PF PA Pct. Nebraska 5 0 193 65 1 .000 9 0 331 99 1.000 Colorado 4 1 103 103 .800 6 2 217 156 .800 Iowa State 3 2 124 100 .600 5 2 200 128 .714 Missouri 2 3 112 163 .400 3 4 165 189 .429 Kansas State 1 4 126 129 .200 3 4 200 135 .429 Kansas 1 4 100 174 .200 2 5 141 225 .286 Last Week's Results Texas 35, Missouri 16 Nebraska 20, Oklahoma 10 Texas A&M 24, Iowa State 21 Texas Tech 63, Baylor 19 Kansas State 40, Kansas 6 Colorado 22, Oklahoma State 19 This Saturday's Games Texas at Baylor, 11:30 a.m. (Fox Syndication) Texas A&M at Texas Tech 1 p.m. Kansas State at Iowa State 1 p.m. Missouri at Colorado 2 p.m. Tulsa at Oklahoma 2 p.m. Nebraska at Kansas 6 p.m. 2001 Longhorn Schedule, Record (7-1) Texas Opp. Sept. 1 New Mexico State 41 7 Sept. 8 North Carolina 44 14 Sept 22 at Houston 53 26 Sept 29 Texas Tech 42 7 Oct. 6 Oklahoma (Dallas) 3 14 Oct. 13 at Oklahoma State 45 17 Oct. 20 Colorado 41 7 Oct. 27 at Missouri 35 16 Nov. 3 at Baylor Nov. 10 Kansas Nov. 23 at Texas A&M Scoring by Quarters Texas 59 108 70 87 - 304 Opponents 24 45 7 32 - 108 Buckman Picks Horns Brad Buckman, a 6-9, 235-pound power forward from Austin Westlake who was recruited by most of the nation's top programs, picked Texas Tuesday, saying he thinks the Horns are on the verge of joining the national elite in basketball. He chose Texas over North Carolina at the end, but also had considered Kentucky, UCLA, Missouri and others. He had said earlier that the lure of the ACC, where basketball reigns supreme, was very strong and almost pulled him to North Carolina. But he told me Tuesday, "I've always wanted to go to Texas. This is where my heart is." He also said his head turned Texas' way at the end because coach Rick Barnes has established a consistent winning program and has been wooing and winning big-time recruits "After looking at it closely," he said, "I think Texas basketball is really on the upswing. They've signed two McDonald's All Americans (freshman point guard T. J. Ford of Fort Bend Willowridge and sophomore forward Brian Boddicker of Duncanville) in the last two years." They could make it three in three years because Buckman's stock soared this summer when he starred in several top AAU tournaments. Brick Oettinger, publisher of Prep Stars Recruiter's Handbook, was asked who was the biggest surprise of the summer. Oettinger said, "In terms of from out of nowhere - not in anybody's top 100 to everybody's top 25 - it would be Brad Buckman. Big forward, very aggressive and a whole lot of skills - just about as many skills as . . . anybody in the class. I've got him No. 21 now and he wasn't in my top 100. Dave Telep, another national recruiting analyst, agreed Buckman is a national top 25 recruit. "The reality is that while there are 25 guys with larger names, there probably aren't 25 better players in the class," Telep said. "He is athletic, can handle it some, he blocks shots, he shoots to medium-range and he scores in the post." Clifton McNeely, the Westlake coach, also says his star's work ethic is off the chart. "He's a very gifted player with a lot of talent," McNeely said, "but the best thing about him is his strong heart and work ethic. I don't think you could find anyone who works harder than he does." McNeely also said he thinks Buckman "is the best player in Texas." There are some guards in the Dallas area who ranked higher nationally, including Bracy Wright of The Colony, who chose Indiana, Daniel Horton of Cedar Hill, who picked Michigan, and Bryan Hopkins of Dallas Lincoln, who committed to SMU. The Longhorns recruited all three of those star guards, but lost out on them at the end. Buckman averaged 20 points, 11 rebounds and 5 blocks for Westlake as a junior. And he's the kind of blue-collar inside player Barnes loves. McNeely said Buckman can play a power game inside and shoot from 3-point range. Asked to compare him to Luke Axtell and Chris Mihm, two other Westlake players he coached who played at UT, he said, "He has the physical presence of Mihm and is a lot stronger coming out of high school, and he has the range of Luke." He is the first recruit to commit to Texas for the early signing period next month. Barnes and his assistants are recruiting several other players, most of them in other states, and hope to sign a sharp shooting guard and a wing. Buckman's father, Brent, played on two national championship golf teams at UT. Basketball Team Has New Look The Longhorn basketball team will have a new look this season with the addition of heralded point guard T. J. Ford, who led Fort Bend Willowridge to back-to-back Class 5A state titles. When the season starts next month, Ford will be called upon to speed up the Horns' offense and also create more opportunities for the team's inside players with his lightning-quick passes. Coach Rick Barnes is hoping Ford's creativity in the half-court offense will improve the scoring punch of center James Thomas, who averaged 7 points and 6.5 rebounds a game last year. Ford also should be able to provide better shooting opportunities for senior forward Chris Owens, sophomore wings Brandon Mouton and Royal Ivey, and 6-9 forward Brian Boddicker. Barnes had to operate without a true point guard last year. Fredie Williams, Ivey and shooting guard Darren Kelly took turns at the point. Barnes and the Horns coped with it admirably, going 25-9 overall and 12-4 in the tough Big 12, but they shot only 41.2 percent from the field and had 88 more turnovers than assists. Ford should help raise the former and lower the latter. They also lost in the first round of the NCAA Tournament to Temple, and Barnes hopes Ford will be a key to helping the team get farther into the playoffs this season. Replacing departed wing Maurice Evans and Kelley, who combined for 30.8 of UT's 70.5 per-game scoring average, creates scoring opportunities for other shooters. Now Barnes just needs some of them to seize that opportunity. He expects Mouton and Ivey to step up there. Sydmill Harris, a 6-6 freshman from The Netherlands, has been a consistent shooter in pre-season workouts. Owens was a star in the World University Games during the summer and is expected to be one of the top players in the Big 12, and a more dependable scoring threat. "Ever since last year, the Temple game, it started coming together," Owens said. "It clicked. I didn't do what I wanted to do and I knew I had the ability. Now I have the mental concentration." UT Women Looking Sharp Coach Jody Conradt's Longhorn women's basketball team is picked to finish in the middle of the Big 12 pack, but early practices and stiff competition at several positons indicate it might be a lot better than that. The Longhorns were looking good early last season before losing center-forward Annissa Hastings and guardTai Dillard to knee injuries. Hastings and Dillard are hale and hearty once again, but equally important is the fact that the Horns' heralded recruiting class is living up to its hype. Stacy Stephens, a 6-1 sophomore, returns as the starting center, and 6-2 senior Tracy Cook and the 6-1 Hastings can back her up and also play power forward. Jody Bell, a 6-2 freshman from Canada, and 6-1 freshman Mercedes Williams also are looking good at power forward. Two freshmen - 6-3 Heather Schreiber, the high school player of the year in Texas last year, and 6-2 Kala Bowers, last year's high school player of the year in Oklahoma - are battling for the small forward job (it shows you are on the right track when you can call 6-3 and 6-2 women small forwards). Hastings is so versatile that she probably will see action at all three inside positions. Kenya Larkin returns as the point guard and other guards who will see a lot of action include sophomore Kaira White, who has been looking great in practice, plus Dillard and freshman CoCo Reed. Alisha Sare and Asha Hill are other guards who could figure into the rotation. RECRUITING NOTES: LaToya Davis, 6-2, of Houston South Houston, picked Texas Tech over Texas last week. Nichelle Roberts, a 6-1 center-forward who teamED with Mercedes Williams to lead Spring Westfield deep into the state playoffs last year, is the only remaining uncommitted blue chipper and the Longhorns have a great chance to sign her. No. 10 Horns Win Soccer Title The No. 10 Texas women's soccer team clinched its first Big 12 Conference title Sunday with a 3-1 victory over Oklahoma. The Longhorns are 11-3 overall and 9-0 in the Big 12 and have one regular season match remaining against Texas A&M. Coach Chris Petrucelli, in his third year at the helm, said, "This is a huge step for us. It's going to help us in recruiting. It's going to help us in marketing. And it's going to help our confidence." Freshman forward Kelly Wilson scored Texas' third goal Sunday, giving her 11 for the season and tying her with Carol Finch for the season record. Finch set the record in 1996. Lerrin Biggers scored Texas' first goal and Kylee Wosnuk got the second one. Next Issue November 5 The next issue will be e-mailed on November 5, and will cover the Baylor game and preview the last home game of the season against Kansas I'll also have a lot of recruiting news, including my updated list of the top prospects. I'll also have reports on other Longhorn sports teams. Subscription Form I want to subscribe. I am enclosing $45 for the next year, which will include 26 issues. A two-year subscription is $85. For a one-year subscription via E-Mail, send $35. Name Street Address or Box Number or E-Mail Address City, State and Zip Code Remit to True Orange, P O Box 26530, Austin, TX 78755 Foreign Rates Available on Request. Phone 512-795-8536 E-Mail Address: [email protected] Gift Subscription Form I want to give a gift subscription to True Orange. I am enclosing $45. Please send an appropriate gift card. For a gift subscription via E-Mail, send $35. Name of Person Receiving Gift Street Address or Box Number or E-Mail Address City, State and Zip Code Your Name
Pipe Expansions Planned for Rockies Region With several pipeline companies well into addressing the pipeline capacity shortages that persist as natural gas production grows throughout the Rocky Mountain region, Kinder Morgan Interstate Gas Transmission LLC (KMIGT) announced two major projects Wednesday, and several other companies detailed expansions planned or in the works during the closing session at the 13th Annual Rocky Mountain Natural Gas Strategy Conference. Headlining the news was KMIGT's plans to use existing rights-of-way to build the Advantage Pipeline, which would fill the same needs as the Colorado Interstate Gas pipe, moving from the Cheyenne Hub to the Mid-Continent. An open season is scheduled on the proposed pipe this fall. Dave Scharf, business development director for KMIGT, said the 24-inch pipe, which would move gas primarily from the Powder River Basin, would have a capacity of 330 MMcf/d, delivering to interconnects on its way to the Kansas City markets. "It would have a smaller size, with about 40% less content," Scharf said, but it would be expandable to 450 MMcf/d, with access to liquid Mid-Continent pipes, local distribution centers and end-use markets. A smaller pipeline, NECO -- a 12-inch pipe, about 95 miles long -- would serve the northeastern Colorado market. Although small, Scharf emphasized that it would reduce some of the bottlenecks now evident in moving gas in that part of the state, and would also allow backhauls to Cheyenne. An open season on this line is also scheduled this fall, Scharf said. KMIGT also is planning to expand its storage capacity in the Rockies, adding more horsepower at the Cheyenne Hub and Huntsman facility. The Huntsman would be expanded to deliver 75 MMcf/d, with delivery at Cheyenne of 45 MMcf/d. "We want to customize shippers' needs," Scharf said of the expansion. Noting there were synergies between the three projects, he said KMIGT was on a growth plan that would use both acquisitions and expansion. "Rocky Mountain growth opportunities we see are in Wyoming, Colorado, Kansas and Nebraska," he said. El Paso's Craig Coombs, who directs project development for the company's Western Pipeline Group, said El Paso also is expanding its pipelines east from the Rockies, with a Cheyenne to Mid-Continent connection, spending $380 million to add 540 MDth/d. The open season for this expansion ended July 20, said Coombs, and he said El Paso is now negotiating with shippers. A FERC filing is scheduled for December 2001, with an in-service date in late 2003 or early 2004. Coombs also updated attendees on the CIG expansion along the Front Range of the Rockies, which he said is on track to be in service by mid-2004. Over the next four years, Coombs said supply from the Rockies would grow from 5 Bcf/d to 7.5 Bcf/d, and warned there would be "blood on the streets" if pipeline systems are not expanded. Coombs said El Paso planned to file its request with the Federal Energy Regulatory Commission in January 2002 for its Ruby pipeline, which is scheduled to carry 250 MDth/d from the Rockies into Nevada and 500 MDth/d into California. The Ruby project, said Coombs, "is designed with power plants in mind." The pipeline will be 30-36-inches with 40,000 horsepower. El Paso's Western Frontier pipeline project, which also closed its open season in July, is also is on schedule, with a FERC filing by the fourth quarter of this year and an in-service target date by November 2003. "What's driving all of these expansions are the power plant projects," Coombs said. With more than 9,200 MW proposed in the region in the coming years, he said capacity would rise more than 2 Bcf/d by 2010. Noting that every planned expansion might not come to fruition because of competing proposals, Coombs said that there is "still tremendous growth" in the Rockies. Shelley Wright, supervisor of capacity marketing for Questar Pipeline Co., detailed the many projects her company has under way in the Rockies, including its Main Line 104, the Clay Basin Projects, the Southern Trails pipe to California and its work on the Eakin compressors. The Main Line 104, a joint venture with El Paso's CIG, will move new and existing gas supplies to the Wasatch Front and other connecting pipes. It is expected to be in service in November 2001, and is on schedule and moving forward, Wright said. She also noted that the Clay Basin, which is the largest storage facility in the western United States, was already ahead of schedule for 2001-2002 storage. "We're seeing more interest in getting storage filled this year" than last, Wright said, noting that storage was depleted last winter. The Clay Basin facility will undergo testing tentatively in April 2002, which "may result in additional firm capacity." Wright said there had been "a lot of interest in additional storage capacity," and Questar will know more next year as to whether it will expand the facility.
Ben, Thanks for your email. I have highlighted the pertinent Sections 2.2 and 2.3 of the Project Development Agreement to the bottom of this email for your review . So long as we extend the May 1, 2001 date to August 1, 2001 regarding Purchaser's obligations, I think many of your concerns are adequately covered by these Sections. This was a big concern of Healy's when we did the deal initially and we tried to make it clear that, despite a sale of the Interests to AES prior to the deadline for meeting the Development Milestones, Developer (ENA) would remain the exclusive developer of the Property as long as the PDA was in effect. Regarding indemnities, in Section 6.11, Purchaser agrees to indemnify Developer and Developer's related parties from all damages caused by Purchaser's nonfulfillment of any agreement or covenant under the PDA. Thus, if they breach the obligations listed below, they are liable to us for damages related to such breach. Please call me at your convenience to discuss this issue at your convenience. Best regards. SECTION 2.2 Obligations of Purchaser. Purchaser shall have the following obligations under this Project Development Agreement: (a) Purchaser shall use commercially reasonable efforts to cooperate with Developer in achieving the Development Milestones on or before [May 1, 2001]; (b) Purchaser shall pay to Developer all payments owing by Purchaser to Developer in accordance with Article III below, as and when such payments are due; (c) Purchaser agrees to provide on or before fifteen (15) days after the Effective Date the Base Configuration Information; (d) following Purchaser's submission to Developer of the Base Configuration Information, Purchaser hereby agrees not to change any of the information contained in the Base Configuration Information in any manner that could, in Developer's reasonable judgment, adversely affect Developer's ability to achieve the Development Milestones; (e) Purchaser agrees (i) not to take any action that is reasonably likely to hinder, impede or delay Developer's achievement of the Development Milestones or that could make Developer's achievement of such Development Milestones more costly and (ii) to use commercially reasonable efforts to promptly supply to Developer follow-up information that is consistent with the Base Configuration Information which is reasonably requested by Developer (or any Governmental Authority) in connection with Developer's pursuit of the Development Milestones; (f) Purchaser recognizes that, except as otherwise provided in Section 3.7, Developer is the exclusive developer of the Project; provided, that Developer agrees to include representatives of Purchaser in all material meetings and discussions with third parties related to the development of the Project, including all material discussions and meetings with respect to the TVA Interconnection Agreement and related matters. (g) in the event Purchaser purchases the Interests prior to the termination of this Project Development Agreement, all of Purchaser's obligations pursuant to this Project Development Agreement (including 2.2(f)) shall continue in full force and effect and Purchaser agrees to cause the Company (and any subsequent purchasers and assignees of the Company) to comply with all restrictions set forth in this Section 2.2(e)-(f) as if the Company (including any subsequent purchaser or assignee) and the Purchaser were the same entity. SECTION 2.3 Miscellaneous. (a) Notwithstanding Section 2.2(f) above but specifically subject to Section 2.2(e), (i) following Purchaser's purchase of the Interests, Purchaser may hold itself out as the "owner" of the Interests so long as Purchaser does so in a manner that does not adversely affect Developer's ability to achieve the Development Milestones and (ii) prior to Purchaser's purchasing of the Interests, Purchaser may have direct contact with Purchaser Contact Parties as reasonably necessary in connection with the Project so long as (x) prior to any such contact each Purchaser Contact Party has executed a confidentiality agreement in a form reasonably approved by Developer and (y) all such contacts and any agreements with any Purchaser Contact Party are made by Purchaser only on behalf of Purchaser (and specifically not the Company or Developer). (b) Notwithstanding anything stated herein to the contrary, Purchaser agrees not to enter into any agreement with any third party on behalf of the Company or otherwise bind the Company without the prior written consent of Developer which may be granted or withheld by Developer in its sole discretion. Purchaser agrees to defend and indemnify Developer and the Company against any Damages suffered by Developer or the Company related to any agreement or alleged agreement entered into between the Company and any third party in violation of this Section 2.3(b). The indemnification described in the previous sentence shall expressly survive the termination of this Project Development Agreement. (c) Purchaser agrees that all information it provides to Developer or any third party in connection with the Haywood Site, the Project, or the Company (i.e. information provided to regulatory authorities regarding air permit related matters) will be factually correct in all material respects. Aaron P. Roffwarg Bracewell & Patterson, LLP South Tower Pennzoil Place 711 Louisiana St. Houston, Texas 77002 (713) 221-1117 (Ph) (713) 221-2184 (Fax) CONFIDENTIALITY STATEMENT: This information is intended only for the use of the individual or entity to which it is addressed and 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 dissemination of this information is strictly prohibited. If you have received this information in error, please notify us immediately by telephone at (713) 221-1117 or by fax at (713) 221-2184, and confirm that you have destroyed this information and any copies. Thank you. >>> <[email protected]> 05/01/01 07:24PM >>> Aaron: It is highly likely that AES would exercise their early purchase option in May. As such, I want to make sure we are thinking about the duties, obligations, and indemnities among the parties under the circumstance that AES owns the member interests in Haywood, and ENA is continuing its efforts to achieve the milestone of the interconnection agreement through August 1. I also want to make sure we have adequate indemnities from AES regarding actions we will undertake to achieve the interconnection milestone. At the end of the day, ENA will be focused on two things: (i) causing TVA to lower its Network Upgrade estimate from the current level of $4.8 million, and (ii) causing TVA to produce an interconnection agreement in substantially the same form as the Gleason interconnect agreement. Obviously, with AES owning the Haywood member interests and being in the driver's seat, they will play a key role in whether these two items are achieved. I want to make sure that the same standards which applied to us prior to them exercising their early option (i.e. we were on the hook to use reasonable commercial efforts to achieve the milestones) now applies to them during the period that we are still trying to achieve the milestones. With Stuart's concurrence, I'd like you to further review the documents and make a recommendation as to what other changes, if any, we should make, to protect our upside under the circumstance described above. Thanks, Ben "Aaron Roffwarg" <[email protected]> on 05/01/2001 06:49:19 PM To: <[email protected]>, <[email protected]> cc: <[email protected]>, <[email protected]> Subject: Greystone/Haywood - Extension of Dates Ben and Stuart, Attached is Amendment #2 to the SPA reflecting the business terms Ben and I discussed this afternoon. As you will see this structure (with the promissory note) is different from the structure described by Steve Hase in the attached email. Please let me know if the deal has evolved since our latest discussions. Please note that this is being sent to ENA only. Please call me with your comments at your earliest convenience. Best regards. Aaron P. Roffwarg Bracewell & Patterson, LLP South Tower Pennzoil Place 711 Louisiana St. Houston, Texas 77002 (713) 221-1117 (Ph) (713) 221-2184 (Fax) CONFIDENTIALITY STATEMENT: This information is intended only for the use of the individual or entity to which it is addressed and 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 dissemination of this information is strictly prohibited. If you have received this information in error, please notify us immediately by telephone at (713) 221-1117 or by fax at (713) 221-2184, and confirm that you have destroyed this information and any copies. Thank you. Content-Transfer-Encoding: 8bit Received: from mcafee.bracepatt.com by bracepatt.com; Tue, 01 May 2001 15:29:24 -0500 Received: FROM aesc.com BY mcafee.bracepatt.com ; Tue May 01 15:40:09 2001 -0500 X-Proxy: keymaster.bracepatt.com protected Received: from 207.92.93.17 ([207.92.93.2]) by aesc.com with Microsoft SMTPSVC(5.0.2172.1); Tue, 1 May 2001 16:22:53 -0400 Message-id: <[email protected]> Date: Tue, 01 May 2001 16:32:21 -0400 Subject: Re: Greystone/Haywood - Extension of Dates To: [email protected] Cc: [email protected], [email protected], [email protected], [email protected], [email protected] From: "Steve Hase" <[email protected]> References: <11A113B59DF4D311A0DE00805FA7F323028FC4E6@DCMAIL1> In-Reply-To: <11A113B59DF4D311A0DE00805FA7F323028FC4E6@DCMAIL1> MIME-Version: 1.0 Content-type: text/plain; charset=ISO-8859-1 Return-Path: [email protected] X-OriginalArrivalTime: 01 May 2001 20:22:53.0236 (UTC) FILETIME =[800B0F40:01C0D27C] Audrey, Ben and I have reached an agreement which will be documented as follows: 1) Extension of Dates -- May 11 becomes May 9 (Wed) 2) Ben will edit the latest version of the Amendment #2 so that a) on Aug 1, we pay the greater of the $1.5MM ($2.5 less $1 paid at exercise) and the Additional Compensation (less the $1 MM) b) a separate agreement whereby Corp guarantees the payment on Aug 1. The intention is to sign the Amendment #3 before 5/9. Thanks everyone for making this happen. Steve Hase (See attached file: #1283523 v5 - AMENDMENT NO 2 TO SPA.doc)
Ernie's on the team now. ---------------------- Forwarded by Chris Germany/HOU/ECT on 04/23/2001 01:27 PM --------------------------- From: Chris Germany 04/20/2001 04:19 PM To: Laurie Ellis/NA/Enron@ENRON, Mary Theresa Franklin/HOU/ECT@ECT, Wade R Price/HOU/ECT@ECT, Darla Saucier/NA/Enron@Enron cc: Subject: Re: Imbalance trades on CNG Hi team. Laurie has been asking for quite some time about an imbalance trade behind NIMO. As you can see, I did my usual ignore it and maybe it will go away but its not working. So, this is what I need to know; Did Enron purcase gas (pool or local production) behind NIMO in Jan and Apr 2000? What CES activity do we have at NIMO for the months shown above? Do we have any out-of-balance items at NIMO for the months shown above? Laurie Ellis@ENRON 04/19/2001 07:41 AM To: Chris Germany/HOU/ECT@ECT cc: Subject: Re: Imbalance trades on CNG Chris, have you gotten anywhere with this? I really need to get this resolved. Thank you Laurie Enron North America Corp. From: Chris Germany @ ECT 04/02/2001 12:51 PM To: Laurie Ellis/NA/Enron@ENRON cc: Subject: Re: Imbalance trades on CNG 713-646-8453 Laurie Ellis@ENRON 04/02/2001 12:27 PM To: Chris Germany/HOU/ECT@ECT cc: Subject: Re: Imbalance trades on CNG It is a CES deal. I have some support that Cindy faxed me. What is your fax number and I'll send it to you. Thanks for your help Laurie Enron North America Corp. From: Chris Germany @ ECT 04/02/2001 12:07 PM To: Laurie Ellis/NA/Enron@ENRON cc: Subject: Re: Imbalance trades on CNG I just left Cingy a message - I said that I'm not aware of any imbalance trades that we intiated. However, it could have been done by CES or EES. I asked her to call me back. Laurie Ellis@ENRON 04/02/2001 09:56 AM To: Chris Germany/HOU/ECT@ECT cc: Subject: Re: Imbalance trades on CNG Chris, I am still trying to get these imbalance trades resolved. John Bieltz is no longer with Amereda Hess but Cindy Wernecke has been working this issue. She can be reached at (703) 317-2293. Can you please get back to me as soon as possible as they would like to resolve. Thanks Laurie ---------------------- Forwarded by Laurie Ellis/NA/Enron on 04/02/2001 09:53 AM --------------------------- Laurie Ellis 11/22/2000 01:03 PM To: Chris Germany/HOU/ECT@ECT cc: Subject: Re: Imbalance trades on CNG No, I still haven't gotten anywhere on this. My contact at Amereda Hess (formerly Statoil) is John Bieltz. His number is 703-317-2318 and his email is [email protected]. Thanks for your help. Laurie Chris Germany@ECT 11/22/2000 12:48 PM To: Laurie Ellis/NA/Enron@ENRON cc: Subject: Re: Imbalance trades on CNG I'm sorry I have not responded sooner. Any new developement on this? To my knowledge, ENA has not done any imbalance trades. Do you have a contact at Statoil? I can call and try to get more info. It could be some CES thing we were not aware of. Laurie Ellis@ENRON 11/01/2000 02:55 PM To: Chris Germany/HOU/ECT@ECT cc: Subject: Imbalance trades on CNG Chris, do you have any information on an imbalance trade with Statoil on CNG Niagara Mohawk for January and April 2000? Statoil has been very patient awaiting payment on this, but I cannot seem to find anything. Gloria Barkowsky suggested that I talk to you. Thanks for your help. Laurie Ellis <Embedded StdOleLink> <Embedded StdOleLink> <Embedded StdOleLink> <Embedded StdOleLink> <Embedded StdOleLink> <Embedded StdOleLink> <Embedded StdOleLink>
fyi - Tommy is the person who organizes teh Enron tennis team if you are interested ----- Forwarded by Elizabeth Sager/HOU/ECT on 05/09/2001 03:11 PM ----- Tommy Garza/ENRON@enronXgate 04/30/2001 12:30 PM To: EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=25C677E6-5E54A4A-862566A5-7ACA EA@EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=2D4695B1-3AF61AE1-8625669C-6C0 E24@EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=4ADDE9A4-D8354D16-862567EE-6CA 766@EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=83B00B96-36637B1A-8825688F-5AA BF4@EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=86256608-65ACBA-625641C-5ED11@ EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=A1585292-E0634B7-882568D5-5F0F ED@EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=B769B68-62BB796A-862569AC-79A0 A6@EX@enronXgate, EX@/O=ENRON/OU=NA/CN=RECIPIENTS/CN=NOTESADDR/CN=DD398DB8-A63CC928-8625677F-508 229@EX@enronXgate, Timothy Bayles/ENRON@enronXgate, Adrial Boals/Corp/Enron@Enron, Paul Burkhart/Enron Communications@Enron Communications, Teobaldo Camejo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Daniella Carneiro/Corp/Enron@ENRON, Edward Jr Chavez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Gabriel Chavez/ENRON@enronXgate, Solomon Chen/ENRON@enronXgate, Lindon Chiu/ENRON@enronXgate, "Church, Larry" <[email protected]>@SMTP@enronXgate, James L Copeland/ENRON@enronXgate, Lisa Costello/ENRON@enronXgate, Patrick Dominguez/ENRON@enronXgate, Kenneth D'Silva/LON/ECT@ECT, Tommy Garza/ENRON@enronXgate, David Glessner/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, "Harris, Shawn" <[email protected]>@SMTP@enronXgate, Tony Harris/Enron Communications@Enron Communications, Leroy Ho/Enron Communications@Enron Communications, "Horn, David" <[email protected]>@SMTP@enronXgate, Michelle Horn/GPGFIN/Enron@ENRON, Brian Hoskins/Enron Communications@Enron Communications, Angela Hylton/ENRON@enronXgate, Yasir Khan/HOU/EES@EES, Dan Kirtane/ET&S/Enron@ENRON, Steve Littel/OTS/Enron@ENRON, David McEllin/ENRON@enronXgate, Hal McKinney/ENRON@enronXgate, Bob Meckna/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Julie Meyers/HOU/ECT@ECT, Ravi Mujumdar/ENRON@enronXgate, Stan Murrah/HOU/EES@EES, Joseph Nguyen/HOU/EES@EES, Mary Ogden/HOU/ECT@ECT, "Olson, Daniel" <[email protected]>@SMTP@enronXgate, James Pfeffer/HOU/EES@EES, Jose Ramirez/ENRON@enronXgate, Michael Ratner/ENRON@enronXgate, Faith Reid/OTS/Enron@Enron, "Rinker, John" <[email protected]>@SMTP@enronXgate, Ramona Rodriguez/ENRON@enronXgate, Ace Roman/HOU/ECT@ECT, Elizabeth Sager/HOU/ECT@ECT, Abrar Sait/Enron Communications@Enron Communications, Angela Sayegh/OTS/Enron@ENRON, Guy Schlein/ENRON@enronXgate, Valter Stoiani/ENRON@enronXgate, "Terry J Garza (E-mail)" <[email protected]>@SMTP@enronXgate, Todd Thelen/ENRON@enronXgate, George Thomas/ENRON@enronXgate, Agatha B Tran/ENRON@enronXgate, David Veltri/Corp/Enron@ENRON, Brandon Whittaker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Rebecca Xie/ENRON@enronXgate cc: Subject: Results April 28th tournament To All Results from Saturday's Tennis Tournament at Memorial Park Tennis Center A singles 1st James Pfeffer 2nd Tommy Garza 3rd Solomon Chen B doubles 1st Stan Murrah 2nd Angela Hylton 3rd Daniel Olson Thanks to everyone who helped and participated Tommy Garza ENW Office: 713-853-6686 [email protected]
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
Hey there! How are things down in Houston? I can't imagine the rumors that are going on there. We were so busy here last week. I am ready for my two weeks off. I am going to S.A. for Thanksgiving (did I already mention that?). I am not sure if I want to fly with what happened today? It's crazy out there, but I have to get home to Texas. I hope you have a great time in Dallas and I'll chat with ya when I get back. Jen -----Original Message----- From: [email protected] Sent: Tue 11/6/2001 12:15 PM To: Jennifer Perrenot Cc: Subject: RE: I definitely dressed up for the party. I looked good! I was a sheriff. If you can't find that CD up there, you can always pick it up back in Texas. So, I'm trying to remember, does your mom live in Houston, and dad in S.A.? Is that right? I'm going to Dallas for Thanksgiving, and I'm just glad I don't have to fly. I can't imagine what the lines will be like that week. I'm off work this Friday, so if you get a chance to call, better make it Thursday. Glad to hear that you're feeling better. Talk to you soon. -----Original Message----- From: "Jennifer Perrenot" <[email protected]>@ENRON Sent: Saturday, November 03, 2001 4:38 AM To: Dean, Clint Subject: RE: Hey there! How was your Halloween party? Did you dress up? I hung out with some friends, but no costumes. Dexter Freebish - that's it. I'll have to look for it up here. We went to the APB party, but left early to get some food. Things calmed down that last night compared to Tuesday. I'll be back on days at the end of next week and then I'll have two weeks off. I cannot wait! What are your plans for Thanksgiving? I'm flying to San Antonio to visit my dad for a few days. I can't decide whether to stop over in Houston or just wait until Christmas. I feel so lucky that the shift I'm on has the holidays off. I apologize for taking so long to respond to your message. I lost my voice earlier this week which kind of makes it hard to trade. Needless to say, they sent me home to get better. I secretly think everyone was happy not to hear me talk! :o) It was so strange because other than the loss of my voice, I felt fine. Who knows? Have a great week! Hopefully we can talk when I get in the office on Thursday. Jen -----Original Message----- From: [email protected] Sent: Fri 10/26/2001 10:40 AM To: Jennifer Perrenot Cc: Subject: RE: I promised I looked for you that night. Did you go to the APB party at Grasshopper? Last of four nights, huh? I remember those days about 3 years ago. So that probably means you have a three day weekend, and are back on for days Monday. That's just my guess. As for the band I was playing, I really don't remember which CD I had in there, but it was probably Dexter Freebish or Vallejo. They are both from Austin. You need to call me when you get back on days. I'm going to a Halloween party this weekend at my manager's house. It should be fun. Are you planning any more trips back to Houston? Clint -----Original Message----- From: "Jennifer Perrenot" <[email protected]>@ENRON Sent: Friday, October 26, 2001 4:41 AM To: Dean, Clint Subject: RE: Hey there! Nice to hear from you! Yeah, we went out the second night, but it was a little slower (thank goodness). I think a lot of people had early flights out the next morning. This is my last of four nights and I am ready for a break! Or at least some sleep. What was the name of that band you were playing in your car? I doubt I can find it up here, but it's worth a try. Have a great weekend! Jen -----Original Message----- From: Dean, Clint Sent: Thu 10/25/2001 2:25 PM To: Jennifer Perrenot Cc: Subject: Jennifer, I enjoyed meeting you last week. Too bad we didn't get to meet up the second night. I definitely had a good time. Did you go out again on Wednesday? I tried to call you at your hotel, but I guess I missed you. Talk to you soon. Clint ******************************************************************** 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. ******************************************************************** - winmail.dat << File: winmail.dat >> - winmail.dat << File: winmail.dat >> - winmail.dat
-----Original Message----- From: Winfrey, Christa Sent: Wednesday, November 14, 2001 11:59 AM To: Tijerina, Shirley; Hogan, Irena D.; Solis, Melissa; Bates, Kimberly; Harvey, Claudette; Black, Tamara Jae; Coleman, Venita; Rode, Tina; Holcombe, Tina ; Clyatt, Julie; Roberts, Chaun; Vuittonet, Laura; Jones, Melissa; Rangel, Ina; Presas, Jessica; Salinas, Michael; Collins, Angie; Finnels-Neal, La Donna; Snow, Dina; Villarreal, Alexandra; Young, Becky; Irvine, Geraldine; Rybarski, Amanda; Choate, Heather; Chapman, Christy; Leigh, Lorie; Zarsky, Lisa; Gordon, D'ann; Butler, Shelly; Noske, Linda J. Cc: Shepperd, Tammy R.; Schoppe, Tammie; Brooks, Loretta; Lopez, Susan; Duree, Janelle; Smith, Carli; Belsha, Lorie Subject: Additional Move Related Information A few more important reminders... Chairs: Must be labeled for the move---use the wire tags included in your move packets. Keyboards, mice: ONLY label non-standard types (i.e. wireless mice/keyboards, special ergonomic keyboards); otherwise, do not label. Phones: Do not label these. New phones will be at your workstations at Enron Center South. Laptops, cell phones, palm pilots, etc.: Be sure to remind your groups to take these home. The move team will not be responsible for moving these over. However, docking station, cradles, etc. should be labeled. The move team will move these over and set them up for you. Thanks again for all your hard work, Christa -----Original Message----- From: Shepperd, Tammy R. Sent: Tuesday, November 13, 2001 5:00 PM To: Tijerina, Shirley; Hogan, Irena D.; Solis, Melissa; Bates, Kimberly; Harvey, Claudette; Black, Tamara Jae; Coleman, Venita; Rode, Tina; Holcombe, Tina ; Clyatt, Julie; Roberts, Chaun; Vuittonet, Laura; Jones, Melissa; Rangel, Ina; Presas, Jessica; Salinas, Michael; Collins, Angie; Finnels-Neal, La Donna; Snow, Dina; Villarreal, Alexandra; Young, Becky; Irvine, Geraldine; Rybarski, Amanda; Choate, Heather; Chapman, Christy; Leigh, Lorie; Zarsky, Lisa; Gordon, D'ann; Butler, Shelly; Noske, Linda J. Cc: Schoppe, Tammie; Brooks, Loretta; Lopez, Susan; Duree, Janelle Subject: Move Related Issues As you all know, our move is scheduled for this weekend. Hopefully, you and your groups are all progressing well in your preparations for the move this Friday. Please take the time to read the information contained in this message because most of the information contains reminders or FYI items and will be important to you and your group. Please forward this to those in your group that may need this information. ? Voicemail instructions - Please have everyone in your group clear all new voicemail messages by 5:00 PM, Friday, 11/16. All saved messages, greetings and recorded names will be saved. If a message is left before cutover the message will be saved, but the message light will not be displayed when you arrive. As a precautionary meassure please check voice mail upon your arrival Monday morning even if the message light isn't on. ? Building access - ECS will not be available for general access until Monday morning at 5:00 AM. Due to the gas and power moves being combined, it is unlikely that the move team will be prepared for the POC's to come in on Sunday to unpack. (Separate instructions will be generated for those who are needed to test trading applications.) NOTE: Only those whose names have been approved and submitted to security will be allowed access on Sunday. o Monday - 5:00 AM for all employees ? Security & badges - All POC team members should be familiar with the routes into ECS as we discussed at our recent move meeting. Please be sure to share this information with all of the people in your group. If you need additional copies of the floor plans that have the access routes highlighted, please contact Carli Smith (5-3473). Please stress to everyone to have their badges with them at all times. No one will be allowed access without their badge. If anyone tries to access the building from the garage via the skyring and they do not have their badge, they will be sent back through the garage to the street level to walk across the street to the round kiosk in the Enron building lobby to get a guest pass and then proceed back to ECS via the 2nd floor and the skyring. ? Move team colors - As mentioned at the move meeting, the following is a list of the color designations (vests) for the various teams that will be on the floor when we move in. o Red - Move Team o Orange - Desktop Support/IT o Green - Telephony ? Newspaper subscriptions - The delivery location for all newspaper subscriptions need to be changed to ECS 05/06. It is our intention to have all daily newspapers delivered to the mail desk located in the ECS 2nd floor corridor. It will be the responsibility of the assistants to either pick up the papers for their group or designate someone in their group to pick up the papers. If your papers continue to be delivered to your old floor of ECN, contact Sunny Rodgers (3-6116). ? Move boxes - Please encourage your group to pack and bring no more than about 6 boxes per person. You may call Facilities (3-6300) if you need to request additional boxes. ? Move labels - If you run out of labels or if you are missing any labels, please call Carli Smith (5-3473) to have additional or missing labels printed. ? Laptops - Important - Please ensure that all cable locks have been removed from all laptop computers by 5:00 PM on Friday. If any cable locks are left on the computers they will be destroyed by the move team in order to move the computers as scheduled. . Bottled water - Every kitchen has an ice machine that also dispenses filtered water. The large bottles of water (5 gallon) will not be allowed on the floor. We would also like to discourage the use of small bottles of water due to limited storage space and the availability of filtered water at several locations. ? Phone sets - Although most of you are aware of this, we just wanted to remind you that there will be only one phone on each desk - either a turret or an Avaya, but not both. Do not tag your phones, a new phone will be waiting for each person on their desk in the new building I hope I have covered some of the outstanding questions or issues you might have, but if I have missed something, please let me know. Thanks so much for all your help and hard work.
From http://www.enerfax.com <http://www.enerfax.com/> : California Wants to Renegotiate Power Contracts California's governor says he is working on proposals that could result in negotiations with power suppliers to reduce the cost of power being purchased by the state through long-term power purchase contracts signed earlier this year. However, none of the generators reportedly have heard anything concerning renegotiations of the deals. While the state would gain lower rates for power from any renegotiations, the advantage to the power providers is not certain, other than the avoidance of future legal or regulatory challenges to the contracts. The governor has come under intense criticism from critics charging that the contracts lock the state into prices that are way too high. The California PUC wants the FERC to force the generators to lower their prices. How FERC will act on the deals remains to be seen. Sempra signed a 10-year, 1,900-MW deal with the state in May that could be worth $7 billion. Sempra began 250 MW deliveries this summer and expects increase output under the deal over the next several years as it brings new power online. The contract includes variable prices based on the cost of natural gas. With gas prices at about $2 per MMBtu, Sempra is able to sell the state baseload capacity at $0.041 per kWh and peaking capacity at $0.051 per kWh. New Path 15 Power Line to Be Built PG&E and other power companies will build a new $300 million transmission line along Path 15, an 84-mile stretch of power lines in the central part of California. The outdated transmission lines in the area do not have enough capacity to carry electricity between the northern and southern parts of the state during peak demand periods. Expanding Path 15 to include a 3rd power line would boost transmission by about 1,500 MW. The project could be completed by summer 2004. Kinder Morgan, Williams, Trans-Elect, and the Western Area Power Administration are also involved in the project. For more information, see the LA Times article at http://www.latimes.com/news/local/la-000083333oct19.story . El Paso and Iberdrola to Buy LNG from Snoehvit Project The Snoehvit consortium, led by Norways Statoil has signed deals with El Paso and Spanish Iberdrola to supply LNG from the Arctic for 17-20 years. El Paso will buy 2.4 Billion cubic meters of gas per year, while Iberdrola will purchase 1.6 Bcm for a total of $453.8 million per year. Snoehvit will also sell volumes totaling 1.7 Bcm to partners Gaz de France and TotalFinaElf. Snoehvit, estimated to hold 320 Bcm of gas will be developed as a subsea tie-back to a LNG plant near the world's northernmost city Hammerfest. The LNG will be transported by specialized carriers to the US and Europe. In the US, the LNG will be sold at spot prices. Environmentalists oppose Snoehvit, the first development in the Arctic Barents Sea, because of potential ecological damage. The deals were signed under a condition that the Norwegian parliament approves the project. A new political party is set to take over Norways government today and may postpone Snoehvit in order to make further environmental impact studies. Otherwise, construction is scheduled to begin by spring 2002 and be operational by autumn of 2006. NOAA Winter Weather Forecast Colder than average temperatures will prevail this winter in the Northeast, Upper Midwest, Great Lakes and Great Plains states, according to the National Oceanic and Atmospheric Administration. NOAA says that the absence of El Nino and La Nina could lead to heavy snow in the Midwest and along the East Coast. The forecast does not expect a repeat of the record-breaking cold temperatures of November and December of last year, but winter should still be colder than normal. The Pacific Northwest had near-record dry conditions last winter that depleted hydropower severely, but will have more normal weather this year. Texas, Oklahoma, and the western parts of Arkansas and Louisiana will receive above average rain while Florida, Georgia, South Carolina and the eastern part of North Carolina will be dryer than usual. Deep Gas Conference in Houston The Strategic Research Institute is holding a conference on deep gas technology on November 27-28 in Houston. For more information, see the following website http://www.srinstitute.com/cr214 . Bob Brooks GPCM Natural Gas Market Forecasting System <http://gpcm.rbac.com/> http://gpcm.rbac.com
Haas NewsWire September 17, 2001 ---------- CONTENTS * UC Berkeley and the Haas School Respond to the National Tragedy * Haas in the News * Happening at Haas * Haas Birthdays ---------- UC BERKELEY AND THE HAAS SCHOOL RESPOND TO THE NATIONAL TRAGEDY Nearly a week after the terrorist attacks on America, the Haas School community has expressed its sadness, shock, and concern in a series of events on campus with more to follow. As of Monday, the Haas School was waiting for definitive word on whether or not any Haas alumni or students were missing or confirmed dead in these attacks. The Haas NewsWire will report on any losses when official confirmation is available. In addition, alumni and students have been using the Haas e-mail mailing lists to account for alumni in New York City and Washington DC. Dean Tyson has opened two previously scheduled MBA student lunches to the entire Haas community so that everyone can join her to discuss how last week's tragedy has touched their lives and the Haas School community. The first lunch will be on Tuesday, September 18, and the second on Wednesday, September 19. Both lunches will be held at 12:45 in the Haas courtyard. Tyson was stranded for most of last week in New York City, where she had traveled on school business. In her absence, Ben Hermalin, associate dean of academic affairs, called for an informal gathering for faculty, students, and staff to provide a forum for discussion and support on the day of the attacks. In addition, some classes and events were canceled that day, and students, faculty, and staff gathered in the Bank of America Forum to watch the news unfold on television and to discuss the implications of these sad events. On the central campus, Chancellor Robert Berdahl called for a moment of silence on Friday, September 14, at noon as the campanile bells tolled, marking the national day of mourning. On September 17, a well-attended campus-wide memorial service for the victims of the attacks was held on Memorial Glade. In the coming days, the information below regarding blood drives, contributions, and activities may be of help. + According to central campus, there are no more appointments available at the on-campus blood drives scheduled for this week. The local chapter of the American Red Cross also reports their supplies are at capacity but they emphasize that the need for blood will be ongoing. At this time they are asking that you wait until next Friday, September 21, to register to give blood. Normally they take walk-ins at the donation center at 6230 Claremont Ave., but under the current circumstances they ask that you register in advance by phoning: 1-800-GIVE LIFE. + The Berkeley campus has created this site, http://www.berkeley.edu/news/specupdates/index.html, for updates on events and building closures on campus. + Last Friday evening, the MBA students put together an impromptu fundraising barbecue for the Red Cross, which raised just over $2,300. If you missed the opportunity to give on Friday, visit the Red Cross site at http://www.redcross.org/. + The site at http://www.finebrand.com/statuses, which the Haas School recommended as a resource to find missing friends in the Haas community, has been shut down. The federal government site, http://www.firstgov.gov/featured/usgresponse.html, has links to many survivor registries. A group of Berkeley students also created a site with links to many of the sites for survivor registries, donations, and of companies affected by the attack: http://safe.millennium.berkeley.edu/. ---------- HAAS IN THE NEWS Peter Sealey, adjunct professor and co-director of the Center for Marketing and Technology, was quoted in the in the Los Angeles Times on September 14 discussing what is inappropriate advertising in the aftermath of national disasters. Read the full story here: http://latimes.com/templates/misc/printstory.jsp?slug=la%2D000073994sep14. Terrance Odean, assistant professor in Finance, was quoted by the San Jose Mercury News on September 14 in the story "Advise to investor: stay calm." Read more here: http://www0.mercurycenter.com/business/center1/invest0914.htm. The Los Angeles Times featured Janet Yellen, the Eugene E. and Catherine M. Trefethen Professor of Business Administration and Haas Economic Analysis and Policy Group, on September 14 in an article commenting on the impact of Tuesday's tragedy on the economy. Read the article here: http://latimes.com/templates/misc/printstory.jsp?slug=la%2D000073998sep14. On September 13 the Los Angeles Times featured Peter Sealey in an article discussing the losses in advertising for many companies whose commercials and ads have been interrupted by the coverage of Tuesday's attack. Read more here: http://latimes.com/templates/misc/printstory.jsp?slug=la%2D000073835sep13. The Chicago Tribune quoted Terrance Odean on September 13 in an article titled "There's only 1 sure thing for investors: Uncertainty." Read the full story here: http://www.chicagotribune.com/business/printedition/chi-0109130257sep13.story Ken Rosen, the California State Professor of Real Estate and Urban Economics and chairman of the Fisher Center for Real Estate and Urban Economics, was quoted in the Globe and Mail on September 13 discussing the impact that the destruction of the World Trade Center had on projected buildings and structural design. Priya Raghubir, assistant professor in the Haas Marketing Group, appeared in the Kentucky Gleaner on September 12 commenting on the spending habits of men versus women. Terrance Odean, was quoted in the Los Angeles Times on September 12 in an article on the future of the US stock market. Read the article here: http://latimes.com/templates/misc/printstory.jsp?slug=la%2D091201invest. The Wall Street Journal featured an article about the Berkeley-Columbia Executive MBA program on September 11 titled "Business Schools Expand MBAs for Executives." Dow Jones Newswires quoted Abby Scott, director of Haas Career Services, in the article "Wall Street Cuts Back on Campus Recruiting, MBA Hires" on September 7, which discussed the difficulty of getting a job offer for MBAs. ---------- HAPPENING AT HAAS C4C Bowling Night 1st fundraiser of the academic year September 19, 2001 9:00 p.m. to 11:30 p.m. For more information, contact Wendy Hsu at 510-524-3502 or email at [email protected]. Berkeley Entrepreneurs Forum The Window Cracks Open: IPOs in the 2001 Market Thursday, September 20, 2001 6:30 p.m. to 9:00 p.m. Arthur Andersen Auditorium, Haas School of Business Price $35 pre-registration, $45 at door; Deadline Tuesday, September 18, Office/Department Register by fax, (510) 642-4110, or phone, 510-642-4255, or Room F450 at the Haas School of Business. Beverages and hors d'oeuvres will be served. Attire: Business casual For more information, contact Kathryn Thorpe, 510-642-4255, email: [email protected] or visit http://www.haas.berkeley.edu/groups/lester/sep01.html. Joint Finance-Real Estate Seminar "Option Exercise Games: An Application to the Equilibrium Investment Strategies of Firms" by Steven Grenadier, Stanford University Thursday, September 20, 2001 4:15 p.m. to 5:45 p.m. Room C110, Cheit Hall For more information, contact June Wong at [email protected]. The 5th Annual Knowledge Forum New Patterns of Management in the Knowledge Economy: The Fifth Annual UC Berkeley Forum on Knowledge and the Firm Friday, September 21, 2001 Arthur Andersen Auditorium at the Haas School of Business Register for Forum at [email protected] For more information, contact, Catt Olazabal at 510-642-4041 or visit http://groups.haas.berkeley.edu/imio/knowledge/index2001.htm. Leading Edge Technology Conference The 4th Annual Leading Edge Technology Conference explores business innovation powered by cutting-edge technology. Saturday, September 22, 2001 8:00 a.m. to 7:00 p.m. Haas School of Business Register at http://www.theleadingedge.org For more information, contact Nipul Chokshi at [email protected]. Consumption Function Friday, September 28, 2001 5:00 p.m. to 9:00 p.m. Haas Courtyard/B of A Forum For more information, contact Inder Grewal at [email protected]. Haas Technology Club "Future Prospects for Data Storage," by Kris Hagerman, Senior Vice President Corp. Dev., Veritas Software Thursday, October 4, 2001 6:00 p.m. to 7:30 p.m. Room C220, Cheit Hall Ph.D. SEMINARS E.T. GRETHER MARKETING SEMINAR "Consumer Search Costs and Endogenous Product Design," by Dmitri Kuksov, UC Berkeley Thursday, September 20, 2001 3:30 p.m. to 5:00 p.m. Room F320 For more information, contact Laura Gardner at [email protected]. IDS270-INSTITUTIONAL ANALYSIS WORKSHOP "Devaluations and Debt Forgiveness: Historical and Contemporary Evidence," Randal Kroszner, Univ. of Chicago Thursday, September 20, 2001 4:00 p.m. to 6:00 p.m. Room C325, Cheit Hall For more information, contact Anita Stephens at [email protected]. REAL ESTATE SEMINAR "Non-Recourse Loans and the Value of Income Producing Real Estate," by Stephen Cauley, USC Friday, September 21, 2001 11:00 a.m. Room C250, Cheit Hall For more information, contact Lynn Lobner at [email protected]. ACCOUNTING SEMINAR Hemang Desai, Southern Methodist University Friday, September 21, 2001 4:00 p.m. C325 Cheit Hall For more information, contact Lorraine Seiji at seiji@ haas.berkeley.edu. E.T. GRETHER MARKETING SEMINAR "Brand Equity and Internet Shopping Agents," by Richard Yalch, University of Washington Thursday, September 27, 2001 3:30 p.m. to 5:00 p.m. Room F320 For more information, contact Laura Gardner at [email protected] IDS270-INSTITUTIONAL ANALYSIS WORKSHOP "Network Externalities and Network Structure," by Oliver Beige Thursday, September 27, 2001 4:00 p.m. to 6:00 p.m. Room C325, Cheit Hall For more information, contact Anita Stephens at [email protected] REAL ESTATE SEMINAR "The Economic Role of New Housing," by Kenneth Gibb, University of Glasgow Friday, September 28, 2001 11:00 a.m. Room C250, Cheit Hall For more information, contact Lynn Lobner at [email protected] ACCOUNTING SEMINAR Nilabhara Bhattacharya, University of Utah Friday, September 28, 2001 4:00 p.m. C325 Cheit Hall For more information, contact Lorraine Seiji at seiji@ haas.berkeley.edu ALUMNI EVENTS San Francisco Chapter Bar of the Month The San Francisco Chapter of the Haas Alumni Network presents the San Francisco Bar of the Month. Join fellow alumni every 3rd Thursday of the month at 7:00 pm. Thursday, September 20, 2001 7:00 p.m. to 10:00 p.m. Location: Trad'r Sam Cocktail Lounge, 6150 Geary in the Richmond District For more information, contact Henry Hwong, at 415-625-1270 or via email [email protected]. Singapore Monthly Meeting Regular monthly meeting for Singapore Haas alumni. Meetings are held last Tuesday of each month. Tuesday, September 25, 2001 7:00 p.m. to 9:00 p.m. Hong Kong, Perth, Singapore, time zone Location: Bar & Billard Room, Raffles Hotels, Singapore No RSVP is required. For more information, contact Dirk Hofer at +65-98191039 or [email protected]. Homecoming & Reunion Weekend All Haas alumni are invited; special reunions are held for class years ending in a 1 or 6. Saturday, September 29, 2001 All Day Location: Haas Courtyard For more information, contact the Alumni Office at 510-642-7790or email at [email protected]. ---------- HAAS BIRTHDAYS Andy Shogun, September 17 David Downes, September 22 Kent Sumrall, September 24 Teresa Janus, September 29 Susan Reneau, September 29 The Haas NewsWire respects the wishes of staff and faculty who would not like their birthdays announced. Please e-mail a request to have your birthday marked "do not announce" on the central birthday list to [email protected]. ---------- The Haas NewsWire is the electronic news weekly for the Haas community published every Monday by the Marketing and Communications Office at the Haas School. Send your news, feedback, and suggestions to [email protected]. Archived issues of Haas NewsWire are available online at http://www.haas.berkeley.edu/groups/newspubs/haasnews/archives/hncurrent.html. To subscribe to Haas NewsWire, address e-mail to [email protected]; in the body of the message type "subscribe haasnewswire" in the first line, and "end" in the second line. To unsubscribe to HNW, type "unsubscribe haasnewswire" in the first line, and "end" in the second line.
Steve and Maureen, The note below deals with the conference at Stanford Steve is scheduled to participate in. In case it doesn't 'ring a bell', we discussed it briefly at the end of August. The Conference is part of our 5 year Reasearch relationship with Stanford entitled "Globe". The conference is set for January 23rd at Stanford. There will be 2 Keynote speakers and 3 panels: "Global Ethics", "Global Brand" and "Global Growth"; Steve is part of The "Global Ethics" panel--it should be fairly easy and straight forward (as described below). Steve, if you have changed your mind about participating, please let me know as soon as possible, so I can discuss it with Stanford. If it works with your schedule, I agree with what Beth says below, and think it would be a very good opportunity for us, especially at this time. Please let me know. Thanks! --Christie. -----Original Message----- From: Benjamin, Beth [mailto:[email protected]] Sent: Friday, November 16, 2001 2:41 PM To: '[email protected]' Subject: GLOBE Conference schedule Christie, Hello! I imagine you're quite busy, given all the changes going on at Enron. I'm dropping you a line for a couple of reasons. First, and most important, I wanted to send along some good wishes during what I imagine is a difficult time. I hope you - and those around you - are coping well and that your spirit is as strong and positive as ever. Second, I'm attaching the schedule for the January GLOBE conference. Steve Kean's panel will take place 11:15-12:30, which should allow him time to fly in and out easily on the same day. There's a lot of enthusiasm about his participation, and I think this is a great time to have someone from Enron in front of the MBAs. He will be in good, and very empathetic company, as Maria Eitel (NIKE) and Mads Ovlisen (Novo Nordisk) have both led their companies through some difficult times, facing more than their share of public scrutiny. We are working with the panel moderator, David Brady, to outline some specific questions that members of the panel might wish to consider in preparing their remarks. Our goal is to have each panelist share their own company experiences - essentially sharing the ethical challenges their company has faced as they've expanded globally across different cultures and legal regimes. How have they balanced the responsibility to make a profit with that of being a "good corporate citizen" in places where corporate "citizenship" may mean very different things? Again, each speaker will have approximately ten minutes each in which to relay their experiences, after which, the moderate will ask some questions and then ultimately open it up for audience questions. As I hope is evident, we are quite excited that Steve is taking part in the conference. I will plan to send you the topic outline shortly after the Thanksgiving holiday. Please let me know if you'd prefer that I send it to Steve directly; otherwise I will continue to send information through you. All the best, Beth Benjamin Director Stanford/McKinsey GLOBE Initiative 518 Memorial Way Stanford Graduate School of Business Stanford, California 94305-5015 Tel: 650.724.4508 Fax: 650.725.7867 Winning Globally Conference Agenda January 23, 2002, 8:30 AM - 5:30 PM 7:30 - 8:30 AM Registration 8:30 - 9:45 AM Welcome Keynote Address Kevin W. Sharer Chairman of the Board, Chief Executive Officer, and President Amgen, Inc. 9:45 - 11:00 AM GLOBE Findings - Insights Into Global Organization Design James N. Baron Walter Kenneth Kilpatrick Professor of Organizational Behavior and Human Resources Stanford Graduate School of Business Jonathan Day Principal McKinsey & Company, London Joel M. Podolny Senior Associate Dean for Academic Affairs and William R. Timken Professor of Organizational Behavior and Strategic Management Stanford Graduate School of Business John Roberts Senior Associate Dean and John H. and Irene S. Scully Professor of Economics, Strategic Management, and International Business Stanford Graduate School of Business 11:00 - 11:15 AM Break 11:15 - 12:30 PM Maintaining Gold-Standard Ethics in a Global Era David W. Brady - Moderator Bowen H. and Janice Arthur McCoy Professor of Political Science and Leadership Values Stanford Graduate School of Business Maria S. Eitel Vice President and Senior Advisor, Corporate Responsibility Nike Corporation Steve Kean Executive Vice President and Chief of Staff Enron Corporation Mads Ovlisen Chairman of the Board of Directors Novo Nordisk A/S 12:30 - 1:45 PM Lunch 1:45 - 2:45 PM Keynote Address Lorenzo H. Zambrano Chairman of the Board and Chief Executive Officer Cemex, S.A. de C.V. 2:45 - 3:00 PM Break 3:00 - 4:15 PM Building and Managing Global Brands Jennifer L. Aaker - Moderator Associate Professor of Marketing Stanford Graduate School of Business Stuart J. Agres Executive Vice President, Director of Corporate Research Young & Rubicam Inc. Jeff Bland Vice President and General Manager Gallo International Youssef A. Nasr President, Chief Executive Officer, and Director HSBC USA and HSBC Bank USA 4:15 - 5:30 PM Organizing for Global Growth Steve C. Coley - Moderator Director McKinsey & Company, Chicago Rodney F. Chase Deputy Group Chief Executive and Director BP Amoco A. Michael Spence Philip H. Knight Professor, Emeritus, and Former Dean Stanford Graduate School of Business Nobel Memorial Prize in Economic Science, 2001 Michelangelo (Mike) Volpi Senior Vice President, Internet Switching and Services Cisco Systems, Inc.
----- Forwarded by Jeff Dasovich/NA/Enron on 02/05/2001 10:26 AM ----- "Daniel Douglass" <[email protected]> 02/04/2001 01:22 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]> cc: Subject: Commentary From Tomorrow's Electricity Daily Commentary: The Ongoing California Saga In the continuing electrical soap opera in California, the role of villain has been seized by the executive branch of the state government, specifically, Gov. Gray Davis and his hand-picked head of the California Public Utilities Commission, Loretta Lynch. Neither Davis nor Lynch are contributing to solving the crisis, in either the short or the long run. They are making things worse. Their chief response to the electric catastrophe has been a search for demons: the power generators and marketers, the federal government, the utilities themselves, anybody but the politicians or the regulators. They have mightily resisted measures that are clearly necessary to right the sinking ship, including rate increases. Columnist Dan Waters in the Sacramento Bee recently did a political scorecard of California politicians. On Davis, he wrote, "A poll indicates that nearly two-thirds of Californians believe the governor has performed poorly on the crisis, and while some of the negative feeling may simply reflect their own anxiety, much of it is well founded. Davis is essentially a passive, reactive and self-protective politician, and his tendencies served him - and the store - poorly when the crisis first arose last summer. Rather than recognize the peril and spend some political capital, Davis played for time, hoping that conditions would improve on their own and/or the federal government would come to his rescue with price-cap orders and other actions. But he miscalculated on both." Of Lynch, Waters said, "Legislators from both parties are ready to lynch the president of the state Public Utilities Commission for, they say, consistently refusing to cooperate and feeding them blatantly false accounts. Lynch, her critics say, appears to be more interested in protecting the PUC's sorry reputation on utility regulation - its decrees caused many of the problems - than in solving the crisis and may have misled Davis, who appointed her. Southern California Edison took the extraordinary step of issuing a highly detailed critique that stopped just short of accusing Lynch of lying, and the legislature's chief auditor is ready to sue her to obtain information on the PUC's role." Both Davis and Lynch seem to have an information problem. I'm reminded of an old Shoe cartoon by the late Jeff MacNelly, in which a heavy-set politician stands at a podium in a news conference and makes the accusation, "You in the media are playin' fast and loose with the facts." One of the stogie-smoking hacks responds, "How's that? What did we do to the facts?" The politician replies, "You printed the dang things!" Davis demonstrated his rather loose, Clintonian, connection with the truth late last month when he proudly announced that bids for long-term electricity supply in response to the state's solicitation had come in an at "weighted average" of $69/MWh. Some kind of weighting. The $69 price, it turns out, didn't include high-priced bids for peaking power. Nor would the governor or his lackeys tell us what the average was if the peak bids were included. Lynch has been beating on, and berating, SCE and PG&E for their insistence that they need financial relief and the ability to pass costs on to their customers. The most outrageous act from Lynch was the 2-1decision by the CPUC to issue restraining orders forbidding the two utilities from withdrawing from their obligation to serve. She billed the move as a way to prevent unilateral blackouts imposed by the utilities. But both companies already had told the CPUC they had no intention of cutting off service to customers. Calling the action "an abuse of power," SCE CEO John Bryson said the order is "an insult to the ethic of the 13,000 employees of SCE who have worked to keep the lights on for their customers. In fact, SCE has borrowed billions of dollars, which threatens the company's solvency, through 8 months of inaction and delay by the CPUC, in order to continue to serve its customers." Commissioner Henry Duque, who voted against the measure, cleared exposed the move as gratuitous utility-bashing. "The obligation to serve is already in California law," he said. "I fear that the order would simply poison the atmosphere between government and the utilities, thereby making communications even more difficult in this time of crisis. In my view, it may even make a bankruptcy filing more likely."
Sophie, Thanks. I shall discuss this with Steve as soon as we have the nomination form signed. I can do it while he is stioll here at Houston. Vince Sophie Kingsley 09/05/2000 10:37 AM To: Dale Surbey/LON/ECT@ECT cc: Vince J Kaminski/HOU/ECT@ECT, Michele Small/LON/ECT@ECT Subject: Re: Confidential We need to get a nomination form signed by you & Vince. Once we have this you guys can discuss the figures with Steve and once everything is agreed we will get the nomination form signed by Sherriff and the agreement drawn up. I will get one up to you today / tomorrow. Dale Surbey 05/09/2000 15:33 To: Vince J Kaminski/HOU/ECT@ECT cc: Sophie Kingsley/LON/ECT@ECT, Michele Small/LON/ECT@ECT Subject: Re: Confidential Sophie- what do we need to do to implement this? Vince - do you want to go through this with Steve while he's in Houston? - Dale Vince J Kaminski 30/08/2000 23:43 To: Sophie Kingsley/LON/ECT@ECT cc: Dale Surbey/LON/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Michele Small/LON/ECT@ECT Subject: Re: Confidential Sophie, I think it's a fair deal. Vince Sophie Kingsley 08/30/2000 11:49 AM To: Dale Surbey/LON/ECT@ECT cc: Vince J Kaminski/HOU/ECT@ECT, Michele Small/LON/ECT@ECT Subject: Re: Confidential Both, Thanks for your comments and comparisons, it is good to get context. Based on your comments here would be my proposal o63,500 basic salary - o15K kickers for each of the 2 years - These are paid as a lump sum on each anniversary guaranteed. Therefore guaranteed salary is effectively o78,500 - this is completely separate and in addition to any performance bonus Increase the value of options to o60K to vest 1/3 as before - which leaves a 1/3 ($20,000 ) hanging out there at the end of the contract. Just FYI - Anjam is currently on o68,000 but does not have an agreement, so this would effectively put a 10.5K gap between the two. Let me know your thoughts. Dale Surbey 30/08/2000 16:09 To: Sophie Kingsley/LON/ECT@ECT cc: Subject: Re: Confidential Sophie, Here's Vince's comments on your proposal for Steve. Also, what's a 2-Yr Exec? How do the kickers work - are they basically a guaranteed minimum bonus or incremental bonus? - Dale ---------------------- Forwarded by Dale Surbey/LON/ECT on 30/08/2000 16:10 --------------------------- Vince J Kaminski 30/08/2000 14:21 To: Dale Surbey/LON/ECT@ECT cc: Vince J Kaminski/HOU/ECT@ECT Subject: Re: Confidential Dale, Thanks for your message. I don't know the labor market in London that well but here the market for quants is very hot. Steve is in my view an exceptionally talented person and I would go an extra mile to retain him long-term for the company. I would adjust the base salary or the kicker upward a bit. o62,000 Basic is what Anjam is receiving currently (if I remember correctly). Steve has a much higher value to Enron than Anjam. Vince Dale Surbey 08/30/2000 07:49 AM To: Vince J Kaminski/HOU/ECT@ECT cc: Subject: Confidential Vince, This is the package HR is proposing for Steven. What do you think? - Dale ---------------------- Forwarded by Dale Surbey/LON/ECT on 30/08/2000 13:50 --------------------------- Sophie Kingsley 29/08/2000 20:32 To: Dale Surbey/LON/ECT@ECT cc: Subject: Confidential Sorry Dale, long day, here are the proposed numbers 2 Year Exec o62,000 Basic ( currently o55K ) o10K each year kickers $50,000 worth of options to vest 1/3 1/3 1/3 Let me know what you think. Regards Sophie
FYI. These two are new hires at Cato who are pretty crackerjack at what they do. Cato must be raising good money from this sector. - Rob ----- Forwarded by Rob Bradley/Corp/Enron on 04/03/2001 04:47 PM ----- "Adam Thierer" <[email protected]> 04/03/2001 03:25 PM Please respond to athierer To: "Adam Thierer" <[email protected]> cc: Subject: Cato TechKnowledge #1: A Libertarian Vision ??? Friends...????We are happy to bring you Issue #1 of the Cato Institute's new technology and telecom?policy newsletter TechKnowledge. These periodic commentaries?will feature?the insights?of Cato scholars?on?high-tech issues in the news. While our first issue provides a general overview of?our general philosophical vision, subsequent editions will apply this framework to a wide array of specific public policy matters.?An archive of all past editions will also be available on our web site at www.cato.org?within the Telecom & Technology subdirectory.?We hope you enjoy these commentaries, but if for any reason you do not care to receive them in?the future, just let us know. Thanks - - Adam Thierer ? ?[IMAGE] Issue #1 April 3, 2001? The Libertarian Vision for Telecom and High-Technology by Adam Thierer and Wayne Crews? ??????????? The technology and telecommunications sectors of the American economy are increasingly under assault by politicians and regulators at all levels of government ) local, state, federal, and international. Although the Telecommunications Act of 1996 reflected a growing consensus that competition and deregulation would bring tremendous benefits to consumers and entrepreneurs alike, the Act not only fell well short of this goal, but has actually resulted in increased micro-management of the communications industry. Worse yet, policymakers show an increasing willingness to extend the misguided regulatory legacy of the past to cover the Internet and other emerging technologies within the information services marketplace. ??????????? Policymakers must resist the urge to treat existing and emerging markets and technologies as their political playthings. Fresh thinking is needed and this thinking should be guided by three simple principles as policymakers consider how the Internet and the high-technology sector should be governed: Principle #1 ) First, Do No Harm: Just as this sound principle governs the medical profession, so too should such a &High-Tech Hippocratic Oath8 guide public policymakers. The pace of technological change in this sector makes it almost impossible to establish timely policies that won,t be outdated as soon as they are put into place. While both entrepreneurs and industry giants can sometimes move at cyber-speed to avoid rapid technological obsolescence, it is apparent that governments and legislatures cannot. That, s the contrast between &Moore,s Law8 and &Murphy,s Law.8 Computer and communications firms have been forced to come to terms with the reality of &Moore,s Law,8 which holds that the computing power doubles roughly every 18 months while its price falls by an equally dramatic margin over the same period. In other words, they have to reinvent the wheel every year-and-a-half if they want to stay on top of their game. However, lawmaking is often beset by &Murphy,s Law8* anything that can go wrong, will go wrong. Moreover, even the most well-intentioned efforts will likely take so long to move through the legislative &sausage factory8 that most statutes or regulations will be obsolete or redundant by the time they finally take effect. Put simply, &Internet time8 and &Washington time8 are measured by two very different clocks. Policymakers must avoid quick fixes and supposedly simple political solutions to the complex problems posed by the realities of the new digital economy. Principle #2 ) Be Patient: The second principle policymakers should heed when considering high-tech policies is to exercise patience and regulatory restraint; to be willing to wait for the good results they allegedly seek, to develop naturally. This is not always easy in a town that believes there is a short-term political solution to every problem. Many politicians provide lip service to the benefits of the market and self-regulation, but then act to subvert the will of companies and consumers by imposing haphazard top-down regulatory solutions and protectionist regulation. Policymakers must avoid activism and recognize their own ignorance. They should not attempt to impose market structures or determine outcomes. Instead they should respect the natural discovery process of the free market, and the spontaneous ordering of our fast-paced technological society. As these markets expand, evolve and mature, they will exceed any top-down creation of politicians. Principle #3 ) Embrace Change: Finally, policymakers must embrace technological change and its revolutionary nature. Learning to live with change is never easy. Firms, technologies, even entire industry sectors can rise and fall in a very short period of time. One day, CB radio and 8-track tapes are the hottest technology in the land; the next, they are as dated as disco dancing and bell-bottoms. ??????????? But sometimes such failure is a good thing. Yesterday,s industrial giant becomes today,s also-ran. Whether it,s IBM in the +70s or Microsoft in the +90s, no firm or technology can expect to remain king of the hill for long. In fact, if there,s one constant in the Internet world, it,s change. The New Economy is characterized by extreme volatility: the ongoing stock market roller coaster; techno fads; rapid technological obsolescence; etc. In fact, tomorrow,s Internet is not likely to be the Internet we know today. ??????????? Consequently, policymakers must realize that the Internet and the high-tech sector will challenge previous policies, existing programs, older institutions, and well-established industries. Legislators must be willing to change existing structures, laws, or political norms to accommodate or foster the ongoing expansion of the New Economy. While some Old Economy interests may not like the emergence of these new industry sectors and technologies, policymakers must not allow older companies to use old or new laws and regulations as a tool against their new competitors. The history of communications industry regulation is littered with lamentable tales of one industry sector using the club of regulation to beat their competitors into submission. Policymakers must reject such Luddite proposals. These simple principles should guide any telecommunications or technology policy debates that arise. More specifically, these principles can be translated into a more concrete set of commandments for policymakers to follow: (1) Any individual or entity should be free to create and offer to the public any technological good or communications service they want, whenever they want, however they want, and on whatever terms they and their customers find mutually agreeable. (2) No individual or entity has a natural, inalienable right or entitlement to a specific technological good or telecommunications service. (3) Free speech rights and the First Amendment are of paramount importance to individual liberty and should be fully honored and protected against government interference. (4) Rather than impose administrative rules, policymakers should respect private property rights; unhindered freedom of contract; voluntary negotiations and standard-setting; private dispute resolution; other common law standards such as the law of trespass and torts; and the proper interpretation of the Commerce Clause of the Constitution as a guarantor of the free flow of interstate commerce.??? The Cato Institute,s Tech Knowledge series of commentaries will seek to apply this libertarian framework to the exploding universe of high-technology policy issues in a consistent and ongoing manner. ________________________ ??????????????? Adam Thierer is the Director of Telecommunications Studies and Wayne Crews the Director of Technology Studies at the Cato Institute in Washington, D.C. (www.cato.org) ? - techknowledgelogo.gif
FYI - this impacts EOL trades; didn't know if you were aware of these issues. -----Original Message----- From: Rohauer, Tanya Sent: Friday, September 28, 2001 8:03 AM To: Radous, Paul; Nelson, Roderick; Shackleton, Sara Subject: FW: Trades as ENA I think it would be a good idea for us all to get together and discuss this isssue from a legal and credit perspective. -----Original Message----- From: Lebrocq, Wendi Sent: Friday, September 28, 2001 7:53 AM To: Rohauer, Tanya Subject: FW: Trades as ENA Regards, Wendi LeBrocq 3-3835 -----Original Message----- From: White, Bill Sent: Friday, September 28, 2001 7:22 AM To: Boyd, Justin; Dyk, Russell; Shackleton, Sara; Shankman, Jeffrey A. Cc: Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali; Juggins, Janine; Nelson, Roderick Subject: RE: Trades as ENA Justin, Your solution appears to respond specifically to EOL related legal/credit issues. However, isn't this only the tip of the iceberg? What about non-EOL OTC trades conducted by ECTRIC traders with counterparties that want ENA as their counterparty. From my time in London, it was always impressed upon me that there was a quagmire of additional tax and potential regulatory (SFA) issues. Please comment. Also, as a commercially efficient course of action, It has always seemed to me that we should attempt to "train" our couterparties to accept that ECTRIC is also a Enron Corp guaranteed sub (at least it was in the past, at their request) and somehow initially set up our contracts/ISDA to be inclusive of this vehicle. Is this possible? Otherwise, the permutations of various legal/credit/tax/regulatory hurdles for all manner of OTC trades becomes onerous. Bill-- -----Original Message----- From: Boyd, Justin Sent: 28 September 2001 05:43 To: Dyk, Russell; Shackleton, Sara; White, Bill; Shankman, Jeffrey A. Cc: Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali; Juggins, Janine; Nelson, Roderick Subject: RE: Trades as ENA Russell My view would be to follow the novation route, i.e. 1. C/P trades via EOL with ECTRIC 2. Each trade is novated from ECTRIC to ENA, and treated as concluded under ENA ISDA Master 3. ENA enters into back-to-back trade with ECTRIC This does mean that the C/P must initially accept the European EOL GTCs, though if we set up a mechanism whereby EOL trades are automatically novated to ENA and treated as concluded under the ENA ISDA Master, this effectively cancels out the EOL GTCs. Justin -----Original Message----- From: Dyk, Russell Sent: 27 September 2001 23:38 To: Shackleton, Sara; Boyd, Justin; White, Bill; Shankman, Jeffrey A. Cc: Abramo, Caroline; Zivic, Robyn; Diamond, Daniel; Radous, Paul; Lebrocq, Wendi; Sharma, Shifali Subject: FW: Trades as ENA Everyone - Our hedge fund group needs clarification on the issue of doing Brent and other European product deals w/ our hedge fund counterparties and booking them back to ENA, the entity with which all the funds have ISDAs. We just did two WTI/Brent crude oil spreads today, one w/ very large volume, and expect to be doing more such deals. This is more than just a legal issue; it's going to impact credit and our strategy to get the funds trading on EOL as well. As we understand it, the main legal issue is that all the funds have an ISDA only w/ ENA and not w/ ECTRIC, so they (and I assume we) want all deals and legal exposure to be w/ ENA. To satisfy both parties' desires, all European product deals must be booked from ECTRIC to ENA. Sara, from speaking to you and from Justin's response below, it seems to me that the only legal hurdle we, the funds, and our traders might face is if no trader w/ ENA in Houston okays w/ the counterparty on ENA's behalf. However, there seem to be 2 other solutions (a netting agreement and novating) that get around this. As Sara knows, dealing on legal agreements w/ the funds can be onerous and time-consuming; negotiating more paperwork is not a viable option. From the credit side, as we understand it, the issue w/ not back-to-backing the trades w/ ENA is that the credit exposure will not be aggregated to the funds' net position in Houston and, therefore, not monitored. In other words, any exposure not sitting w/ ENA will be invisible to credit. so daily margining, etc. will be incorrect. From the EnronOnline side, as we see it there are a couple of issues. EOL wants the funds to trade online; an increasing number of funds also want to trade online. However, they do not want to be restricted to trading products that are only US based. Also, they would like to see more arb spread products like a WTI/Brent crude oil spread online. If neither desire can be easily met b/c we need a separate ISDA w/ ECTRIC (which potentially means, as above, more onerous and time-consuming negotiation), then it will certainly be detrimental for volume and also foresake a certain momentum that we are gaining now. The point has been raised that the funds could trade European products if credit in London cleared them and if they were willing then to accept the general terms and conditions that pop up on EOL. We can assure you that they will not accept this. These are the issues as we see them from the origination side. There may be other issues that we're missing from the sides that I've mentioned as well as the trading/back office side. Regards, Russ -----Original Message----- From: White, Bill Sent: Thursday, September 27, 2001 3:32 PM To: Dyk, Russell Subject: FW: Trades as ENA -----Original Message----- From: Sharma, Shifali Sent: 26 July 2001 08:21 To: White, Bill Subject: FW: Trades as ENA This is what we have heard from Legal and Tax so far. We're trying to get a list of couterparties that currently will not trade with ECTRIC and only with ENA. -----Original Message----- From: Boyd, Justin Sent: Thursday, July 26, 2001 2:10 AM To: Juggins, Janine; Beyhum, Maya Cc: Sharma, Shifali; Klar, Guenther; Sexton, Camille; Watt, Julie; Marsh, Jonathan Subject: RE: Trades as ENA i agree - assuming you follow janine's approach, then no adverse UK regulatory issues will ensue justin -----Original Message----- From: Juggins, Janine Sent: 25 July 2001 19:29 To: Beyhum, Maya; Boyd, Justin Cc: Sharma, Shifali; Klar, Guenther; Sexton, Camille; Watt, Julie Subject: RE: Trades as ENA I assume that these are financial transactions. The current approach is the right one in the circumstances - i.e trade between ECTRIC and ENA, trade between ENA and third party (eg Bank of America). It is important that the trader agreeing to the deal with the third party in the name of ENA is located in Houston (they cannot agree deals in the name of ENA when located in London). The pricing should be such that ENA is compensated for taking the credit risk with respect to the third party but otherwise all the economics should be with ECTRIC. To avoid booking the back to back trades, a possibility would be an agreement on netting to be entered into by ECTRIC, ENA and Bank of America if all parties can get comfortable with the legal position. Another alternative sometimes put forward is that ECTRIC does the deal with Bank of America, the contract is then novated from ECTRIC to ENA, and ENA enters into a back to back swap on the same financial terms with ECTRIC. Note that we are currently working on a project to enter into financials through EFET LLC (arranged by EEFT) instead of ECTRIC (effective 1 November). Regards Janine -----Original Message----- From: Beyhum, Maya Sent: 25 July 2001 14:13 To: Juggins, Janine; Boyd, Justin Cc: Sharma, Shifali Subject: Trades as ENA Hi I am currently working in the London Risk group for Global Markets. At the moment we have a number of counterparties who do not want to transact with ECTRIC but would like to do deals only with ENA (e.g. Bank of America). As a result, if a London trader wants to carry out a trade with Bank of America, he will do an internal trade with a trader in Houston and then book a trade between the Houston trader (who trades under ENA) and Bank Of America. The trades are then confirmed from the Houston office. We were wondering about a couple of things: Are there any tax/legal implications we should be aware of as a result of booking the trades as we do Is there a way to approach these counterparties to get them to trade with ECTRIC (as this currently creates a lot of paperwork and administration)? Thanks for your help Maya
Please see exchange below. Can you send me current plans - who, when, where and what - for London reviews? I would put a several day moratorium on contacting London regarding upcoming Doorstep review plans until I get back with you. Thanks. --Sally I know that in our meeting with Rick and Rick we talked about being creative on London reviews and leveraging what is being done by EAS - maybe directing them on additional activities and doing some leg work by video conference. What happened to that effort? Sounds as if from the London e-mails that we stepped right back to flying people around the world. -----Original Message----- From: Beck, Sally Sent: Friday, October 26, 2001 12:05 PM To: Dyson, Fernley Cc: New, James; Jordan, Mike; Apollo, Beth; Brown, Michael - COO London Subject: RE: UK & Continental Power Doorstep In an October 3 update meeting with Rick Buy and Rick Causey on Doorstep reviews, both were very supportive of the efforts to date this year. Since we were in the midst of the budgeting process, we wanted their view on the continuation of Doorstep Reviews, and they resoundingly agreed that the effort is valuable to Enron and that they wanted to be certain that the effort continues. In reviewing the plans for 4th quarter, one of our issues was the willingness of key staff members to travel long distances in light of the September 11th terrorists attacks. We were in agreement on postponing some of the planned 4th quarter reviews until early 2002. Planned reviews for the Metals business and certain other EEL lines of business were reaffirmed by Buy and Causey for completion in the 4th quarter. Certainly life on October 26 feels different today at Enron than it did on October 3. I understand multiple demands on staff members currently and the additional demands of the budgeting process, and in your case, the voluntary redundancy program. In the next few days I will again review the 4th quarter plans for Doorstep reviews with Buy and Causey, sharing with them your concerns. I will let you know the outcome of those conversations. If there is still a strong desire to complete these reviews this year, we will work creatively to leverage work that is being done through the EAS process and minimize both travel and time involved. -Sally -----Original Message----- From: Dyson, Fernley Sent: Friday, October 26, 2001 2:24 AM To: New, James; Jordan, Mike Cc: Beck, Sally; Apollo, Beth; Brown, Michael - COO London Subject: RE: UK & Continental Power Doorstep The EAS work takes priority over Doorstep - we need the AA opinion. I'm afraid that Doorstep is way down my list of priorities at this time - I certainly do not want other things to suffer. Thanks Fernley -----Original Message----- From: New, James Sent: 25 October 2001 20:38 To: Dyson, Fernley; Evans, Coralie; D'arcy, Paul; Jordan, Mike Cc: Yeo, Robert Subject: FW: UK & Continental Power Doorstep It's official, we are being door stepped. The Houston plan is to do all of Power and all of the Structures (although when I spoke to Stacey she seemed a little unsure of her plan for structures). Also from what Stacey said the Gas door step will be following shortly. Stacey and Kristin Albrecht aim to be here for the whole week starting first thing on Monday the 5th. EAS here are already in the loop as they have been various conversations. Obviously with all the additional work we are being asked to do at the moment something will have to give. I aim to speak to Paul Bromley to agree whether the EAS or doorstep work takes priority and to get him to clearly explain which areas will be covered by the doorstep and which by the EAS process since I will be very unhappy if we fail to avoid duplication. In addition, we will also need to make commercial aware of a reduced capacity to perform analytical tasks as well as model review and gap analysis work etc. James -----Original Message----- From: White, Stacey W. Sent: 25 October 2001 19:59 To: New, James Subject: RE: UK & Continental Power Doorstep We will not be there next week so that should be fine. Are the complex derivatives group and 'structured book' run by Paul Darcy the same thing? If yes, then we are planning on reviewing that area. Should I contact Paul Darcy directly? If no, what is the complex derivatives group? Thanks, Stacey -----Original Message----- From: New, James Sent: Thursday, October 25, 2001 12:45 PM To: White, Stacey W. Subject: RE: UK & Continental Power Doorstep Also in addition can you please confirm that you are not doing the complex derivatives group which is run totally separately in both personnel and risk terms ? Thanks -----Original Message----- From: New, James Sent: 25 October 2001 18:03 To: White, Stacey W. Subject: RE: UK & Continental Power Doorstep Are you here next week then because I am due to be away for some of that time ? -----Original Message----- From: White, Stacey W. Sent: 25 October 2001 17:47 To: New, James Subject: UK & Continental Power Doorstep James, Just a quick note and request regarding our UK & Continental Power Doorstep review we will be performing. Please provide a list of books, curves and deal types used for UK & Continental Power. In addition, please send information on any large, structured, out of the norm transactions and any transactions that are calculated outside of the core trading system. Please provide this information early next week. Look forward to seeing you. Stacey
Welcome to: DIAMONDS NEWSLETTER Issue: 2001-05 The diamond, gems and fine jewelry information resource for clients and friends of Diamond Source of Virginia, Inc. http://www.DSOURCEVA.com (unsubscribe instructions at bottom of this newsletter) ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ If you know of someone who will be getting engaged or celebrating a special event such as an anniversary, birthday, or baby's birth forward this newsletter to them so they will know where to save money on a diamond or fine jewelry! ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ THIS ISSUE'S TOPICS Emerald: May Birthstone Famous Diamonds Sea Diamonds Looking For Something Really Special SI2 Clarity Insurance Questions Four C's Bow Tie Price Calculator Diamond and Jewelry Books Internet Marketing ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ EMERALD: MAY BIRTHSTONE ============================== Emerald is a green variety of the mineral beryl. One of the rarest members of the beryl family-only the red variety (sometimes called "red emerald") is rarer-it is one of the most highly prized of all the gems. Aside from being the birthstone for May, it was historically believed to bestow on its wearer faithfulness and unchanging love, and was thought to enable the wearer to forecast events. The highest-quality emerald has the color of fresh young green grass-an almost pure spectral green, possibly with a very faint tint of blue, as in the finest emerald from Columbia, which is considered by connoisseurs to be the world's finest. Other sources include Brazil, Zambia, Pakistan, Afghanistan, Russia and India. Flawless emeralds are rare, so their "flaws" have come to serve almost as "fingerprints," while flawless emeralds are immediately suspect. Although a hard stone, emerald will chip easily since it tends to be somewhat brittle, so special care should be given in wearing and handling. Techniques to enhance color and reduce the visibility of flaws are also frequently used. A common practice is to fill surface-reaching cracks with oil (sometimes tinted green), a practice that goes back to early Greek times. Today's emeralds are oiled using a vacuum/heat technology. This is a widely accepted trade practice, since it is actually good for the stone in light of its fragile nature. Oiling hides some of the whitish flaws, which are actually cracks, filling the cracks so they become less visible. The oil becomes an integral part of the emerald unless it is subjected to some type of degreasing procedure. The development and use of the ultrasonic cleaner has brought to light the extensive- ness of this practice. Never clean emeralds in an ultrasonic cleaner. While oiling is considered an acceptable practice, be sure the price reflects the actual quality of the stone. If necessary, most emeralds can be "re-oiled." FAMOUS DIAMONDS ========================= Name: Uncle Sam Weight: 40.23 carats (rough) and 12.42 carats (cut) Color: M (very light brown) Clarity:VVS1 Shape: Emerald Cut The Uncle Sam diamond, which was discovered in the "Crater of diamonds" in Arkansas in 1924, is the largest yet found in the United States. Peiken Jewelers of New York City, owned the Uncle Sam for many years. For a while, it was on loan to the American Museum of Natural History. In 1971, Sidney de Young, a dealer from Boston, bought the diamond and then sold it to an unnamed collector. SEA DIAMONDS =========================================== An enterprising Texan called Sammy Collins drew worldwide attention in 1962 when he announced that he'd recovered 50,000 carats of diamonds worth $1.5 million from the seabed off the treacherous Diamond Coast of South West Africa. Collins figured that since diamonds had been found in abundant amounts along the coast, most likely carried there by the Vaal and Orange rivers from some far inland deposit, they also ought to be found under the ocean. Over a period of three years, Collins used the equivalent of huge vacuum sweepers to suck some 400,000 carats of diamonds from the seabed. His adventures set off a mini-rush by others to try this new type of exploration but terrible working conditions and uncertain diamond deposits sent most into early obscurity. Today, with improved technology, De Beers and others are once again probing the waters of the South Atlantic, bringing closer the prospect of viable undersea diamond recovery. LOOKING FOR SOMETHING REALLY SPECIAL? ============================================ We will be attending the annual JCK Jewelry Show in Las Vegas the first week of June. This is your opportunity to get access to wonderful designer jewelry at a fraction of regular retail prices. With almost 3,000 booths of diamonds and jewelry from all over the world, this trade show brings the most beautiful jewelry in the world to one place. If you have special piece of jewelry you've always wanted but didn't think you could afford, give us a call so we can find it for you. The same goes for color gem stones since we can hand pick from the most beautiful colored stones in the world for your special ring, pendant or bracelet. While the Diamond Source of Virginia does not have an inventory of diamonds or jewelry, we have accounts with the leading wholesalers and designers across the country and can special order your custom jewelry or pick it out in person at this show. We go with our shopping list for our customers and return with the best of the best. If you have a special request, please give Anne a call at 888-477-8385 and tell us what you want. SI2 CLARITY ========================= While we recommend at least SI1 clarity for most diamonds to ensure they are "eye clean," many consumers think that SI2 means nothing visible with the naked eye. The following comments define the official GIA position: "SI stones contain noticeable inclusions which are easy (SI1) or very easy (SI2) for a trained grader to see under 10X. Typical inclusions are included crystals, clouds, and feathers, normally centrally located and noticed immediately. A stone with an eye visible inclusion can still be graded SI. You must consider the size, nature, position, number, and color or relief of the inclusion. The size and shape of the stone are important too. Characteristics in the SI1 grade usually are not visible to the unaided eye face-up. Characteristics in some SI2 stones can be seen with the unaided eye." We find that over half of the SI2 stones have visible inclusions to the naked eye. Note the above comments say "visible to the unaided eye face-up." With most shapes of diamonds, inclusions are often easily visible from the side where there are few, if any, facets to hide them. We just sent a VS1 clarity princess back to the wholesaler because the inclusion, while not visible face-up, was easily visible with the naked eye from the side. You can imagine what the SI2 diamonds look like from the side if they are visible face-up. If the mounting hides the side of the diamond, these side visible inclusions are not a problem. But most mountings show off the side of a diamond and make them easy to see. INSURANCE QUESTIONS ============================== Most people do not realize that insurers differ widely in what they offer regarding coverage and reimbursement or replacement. Many insurance companies will not reimburse the "full value" provided in the policy but, rather, exercise a "replacement" option--and will offer a sum in cash less than the amount for which the jewelry is insured, or offer to replace it for you. Therefore it is important to ask some very specific questions to determine the precise coverage offered. We recommend asking the insurer at least the following: 1) How do you satisfy claims? Do you reimburse the insured amount in cash? If not, how is the amount of the cash settlement determined? Or do you replace the jewelry? 2) What involvements do I have in the replacement of an item? What assurance do I have that the replacement will be of comparable quality and value? 3) What is your coverage on articles that cannot be replaced? 4) Exactly what risks does my policy cover--all risks? Mysterious disappearance? Am I covered in all geographic areas? At all times? 5) Are their any exemptions or exclusions? What if the loss involves negligence? What happens if the diamond falls out? 6) What are the deductibles, if any? 7) What documentation do you expect me to provide? Every week we hear yet another story of a customer who paid insurance premiums for years and were shocked to discover how little protection they really had when they did have a claim. Check the small print before you need it. FOUR C'S =========================== Diamond quality and value are determined by four factors. These factors are called the "Four C's." If we were to rank them based on their importance in determining the value of a diamond, we would list them as follows: 1) Color 2) Clarity 3) Cut and proportion 4) Carat weight In terms of determining beauty, however, we would rank them in a different order: 1) Cut and proportion 2) Color 3) Clarity 4) Carat weight When diamond shopping, it pays to put your focus on cut and proportion since this is where you get the most impact on beauty while paying little premium in price. We recommend investing your dollars in beauty you see rather than rarity and higher "quality" not visible to your eye. BOW TIE ======= One of the most obvious indicators of poor proportioning in fancy shaped diamonds is the bow tie, or butterfly effect, a darkened area across the center or widest part of the stone, depending upon the cut. The bow tie is commonly seen in the pear shape or marquise but may exist in any fancy shape. Virtually all fancy shapes cut today will exhibit some minimal bow tie effect. Nonetheless, the presence or absence of a bow tie is an indicator of proper proportioning. In poorly proportioned stones there is a pronounced bow tie; the more pronounced, the poorer the proportioning. The less pronounced the bow tie, the better the proportioning. The degree to which the bow tie is evident is the first indicator of a good or poor make (cut). PRICE CALCULATOR ================ Probably the most popular feature of our web site is the diamond price calculator where shoppers can input a shape, color grade, clarity grade, and carat weight to determine an estimate of our price for that type of diamond. If you haven't tried it yet, check it out at: http://www.dsourceva.com/cost.htm#calc DIAMOND AND JEWELRY BOOKS ========================= One of the best ways to be a better shopper for diamonds and fine jewelry is to read one or more of the great books listed at the following web page: http://www.dsourceva.com/books.htm INTERNET MARKETING ========================= If you or any of your friends have a web site and want to know how to get more visitors, check out some of the tools we have found to help with internet marketing at: http://www.dsourceva.com/internetmarketing.htm TOPICS FOR FUTURE NEWSLETTERS ============================= If you have any topics, questions, or issues you would like to see addressed in future DIAMOND NEWSLETTERS, please send us an email. Thank you. +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ If you wish to unsubscribe to this newsletter, simply reply to this email and in the subject line put only the words: unsubscribe diamonds +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Denny & Anne Reinke [email protected] 1-888-477-8385 (toll free) Diamond Source of Virginia, Inc http://www.DSOURCEVA.com
Attention POWER REPORT Readers: Go to http://www.powermarketers.com/prdaily.htm to view today's edition with direct headline links to each story.] ====================================================================== The Industry's Preferred Source For Breaking Energy News And Information http://www.powermarketers.com ---------------------------------------------------------------------- T H E P O W E R M A R K E T E R S .C O M P O W E R R E P O R T Today's Headlines From POWERMARKETERS.COM Subscriptions to The PowerMarketers.com Power Report are free - you will never be charged. You may redistribute this e-mail without change. You may not redistribute stories. To register for a free subscription, point your browser to: http://www.retailenergy.com/pma/dprreg.htm ********************************************************************** ------Advertisement------ POWER CRUNCH IN THE WEST February 12-14, 2001 SAN DIEGO, CA Early Bird Special till January 26! 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For valuable sample research, go to: <http://www.powerperceptions.com/essays/EssaysWhitePapers.htm> ******************************************************************** --------------------T O P S T O R I E S-------------------- Top Stories (January 23) RESCUED BY REVENUE DEBT? CALIFORNIA BILLS PROPOSE BOND SALE TO BUY POWER Two bills working their way through the California Legislature carry with them the potential for several billions of dollars in revenue bonds to be sold by the state, but neither is expected to be finalized very soon. http://199.97.97.163/IMDS%PMANAT0%read%/home/content/users/imds/feeds/ambanker /2001/01/23/news/0000-0043-KEYWORD.Missing PG&E MOVE MAY MEAN MORE BLACKOUTS, BUT FEWER PIPELINE WOES A change in the way a California utility can conserve electricity could help avert statewide fuel shortages at the same time it increases the likelihood of rolling blackouts. http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/ 01/23/eng-djn/eng-djn_190030_5_22688481491059 SIERRA PACIFIC LOOKS AT EFFECTS OF NEW CALIFORNIA LAW Sierra Pacific Resources and its Sierra Pacific Power Co. unit are evaluating the effect of legislation passed Thursday by the California Legislature that would "prohibit a facility for the generation of electricity owned by a public utility from being disposed of prior to January 1, 2006," according to Forms 8-K filed with the Securities and Exchange Commission. http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/ 01/23/eng-djn/eng-djn_194031_119_035700184759 WASHINGTON REGULATORS ORDER RATE CAP FOR 13 PUGET SOUND ENERGY INDUSTRIAL CUSTOMERS Washington state regulators Monday ordered Puget Sound Energy Inc. (PSE) to establish a temporary "soft cap" on rates for 13 industrial customers, a spokeswoman for the Washington Utilities and Transporation Commission said. http://199.97.97.79/IMDS%PMADJN0%read%/home/content/users/imds/feeds/djn/2001/ 01/23/eng-djn/eng-djn_010038_205_778017882258 MINNESOTA GROUPS UNVEIL PROPOSED ENERGY BILL THAT FOCUSES ON CONSERVATION A hefty consortium of consumer, labor and environmental groups unveiled their idea of a comprehensive statewide energy bill Monday, and its proponents said the legislation will keep Minnesota from feeling California's pain. http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri dder/2001/01/23/krtbn/0000-0505-SP-ENERGY MANY PENNSYLVANIA CONSUMERS SWITCH TO GREEN POWER In the coal region southeast of Pittsburgh, atop a mountain stripped bare by decades of mining, eight giant wind turbines hum softly around the clock. http://199.97.97.163/IMDS%PMAKRT0%read%/home/content/users/imds/feeds/knightri dder/2001/01/23/krtbn/0000-0426-PH-GREEN-POWER ---------------------------------------------------------------------- DOW JONES NEWSWIRES ---------------------------------------------------------------------- Access stories online at: http://199.97.97.79/IMDS\|PMADJN0,PMADJN1,PMADJN2,PMADJN3,PMADJN4\|index PRESS RELEASE: Moody's Raises Northeast Utilities Rtgs Green Mtn Power To End Winter-Summer Rate Differential Green Mtn Power Sees 11.25% Rate Of Return In 2001, 2002 Green Mtn Power Gets Vt. OK For Pact To Hike Elec Rates Green Mtn: 2 Earlier Temporary Rate Hikes Now Permanent Green Mtn Power To Raise Elec Rates By 3.42% >GMP Public Service Co Of N.H. Sr Sec Raised To Baa3:Moody's Northeast Utilities Sr Unsec Raised To Baa3 By Moody's Lawmakers Fear Pwr Price Rise If US Uranium Co Wins Case Sierra Pacific Looks At Effects Of New Calif Law >SRP PG&E Move May Mean Blackouts, But Fewer Pipeline Woes Dynegy Call -5: Co Says National Energy Policy Needed Midwest Generation: Emissions Trimmed At Ill. Coal Plants Many In Bush Cabinet Worth Millions, Fincl Reports Show Northeast Util Results -4: Yr Fincl Table, Comment >NU Northeast Util Results -3: Street FY01 Net View $1.61/Shr Northeast Utilities Results -2: 4Q Fincl Table >NU Dynegy Call-4: Trading Ops Earned 15% Of Net In Calif Dynegy Conf Call -3: Calif Overshadowed 4Q Comments >DYN In Ratings Storm, Money Fund Mgrs Eye CP Credit Quality Northeast Utilities Latest 4Q Loss $1.15/Shr >NU Northeast Utilities 4Q Oper Net 47c/Shr Vs Oper Loss 12c Dynegy Conf Call -2: Took Reserve For Calif Risks >DYN Dynegy Sees Tremendous Volatility Ahead In NE Power Mkt Dynegy CEO Sees Switch To Long-Term Pacts Helping Co. Dynegy CEO Sees Switch To Long-Term Pacts Throughout US Native Canadian Group Files Suit Against Manitoba Hydro Dynegy CEO Sees Switch To Long-Term Energy Supply Pacts Amer Electric Power Earnings -4: Year Fincl Table >AEP UK Takeover Panel:No 'Deadline' For E.On-PowerGen Bid>EON Amer Electric Earnings -3: '01 Street Net View $3.44/Shr Amer Electric Power Earnings -2: 4Q Financial Table >AEP Millicom Leads Bids In 2 Regions At Venezuela WLL Auction American Electric Power Sees FY01 Net At $3.40-$3.50/Shr American Electric Power 4Q Net 33c/Shr Vs 60c >AEP American Electric Power 4Q Oper Net 49c/Shr Vs 48c International Power/Ramapo -2:Plant Expected Ready in '04 International Power: Ramapo Project Application Accepted Security Concern Keep Calif Utils From Warning Of Outages Wash Regulators Order Rate Cap For 13 PSE Indus Customers FREE TRIAL: For a free trial of the Dow Jones Energy Service go to www.dowjonesnews.com, and click "create account," or call 1-800-223-2274. ---------------------------------------------------------------------- N A T I O N A L ---------------------------------------------------------------------- Access stories online at: http://www.powermarketers.com/pma-nat.htm Calif. Power Broker May Dissolve MassDevelopment to Issue $10.4 Million in Utility Bonds for Transmission System Rescued by Revenue Debt? Calif. Bills Propose Bond Sale to Buy Power Ratings Shielding Paper Market from Utility Woes? PG&E Welcomes Federal Government's Leadership on Natural Gas And Electricity Supply Issues Fuel Supply to Sakhalin Power Plants Is Stabilizing. New Jersey Natural Gas Company: Energy Assistance Is Available to Help Customers in Need Recent Energy IPOs Profit Nasdaq: Biotech And Alternative Energy Movers Numac Energy Inc. Mails Directors' Circular Recommending Acceptance of the Anderson Offer Evi, Arc Reach Agreement in Principle in Joint Venture to Develop Direct Methanol Fuel Cell Technology Aga Preview: US Natural Gas Inventories Seen Down 85-110 Bcf Bush Extends Calif. Power Orders Add 1: DOE Extends California Power, Natural Gas Orders for... Psb Approves 3.4% Rate Hike; Allows Hydro-Quebec Cost Recovery Calif Begins Taking Power Bids Ferc Chairman Hebert Urges California to Produce More Power Advisory/Energy Producers Power Update Kinder Morgan Energy Partners, L.P. And Kinder Morgan, Inc. Invite You to A Webcast of Their Annual Analyst Conference Aes Begins Construction on $300 Million Wolf Hollow Power Plant in Granbury, Texas; 730mw Plant Expected to Commence Commercial Operations in The Summer of 2002 Canadian And U.S. Banks to Finance Power Plant in Mexico Following Mayor's Directive, Lawa Takes Steps to Address Energy Crisis; Reduces Gateway LAX Pylon Lighting by 61 Percent Businesses Seek Relief from Natural Gas Prices Recent Energy Ipos Profit Chubu Electric Power Aims for Average Profit of 150 B. Yen Reps. Worried About Electric Prices Pacific Gas & Electric says California has exhausted interruptible supply California Power Crisis Highlights Downside of Market Economy A.G. Block ; Shocked California Power Problem Holds Political Portent City Gets Energy Windfall City of Port Colborne to Lease Port Colborne Hydro to Canadian Niagara Power TransAlta Power, L.P. Announces 2000 Results Trade in for New Engine...Existing GE Customer, Lubbock Power & Light, Reaps Economic Benefits from LM Gas Turbine Engine Exchange Program Spire Solar Chicago Helps Power Nature Museum; More Solar Systems to Follow Reliant Energy Minnegasco Announces New Contribution to the Salvation Army Heatshare ProgramContribution to Aid Minnesotans Most Directly Affected by Current Natural Gas Costs -- Customers Urged to Participate in Program New Strategies Should Be Adopted to Address California Power Crisis Repeats: Energy Volume And Open Interest Totals-Jan 23 U.S. Energy Corp. Subsidiary to Acquire Powder River Basin Coalbed Methane Property in WyomingDrilling Permits in Place for 22 Gas Wells Cable Rate Break Prompts Electric Utilities' Challenge Seitel Hires Chief Operating Officer for DDD Energy Electric City And City of Norwalk to Host Demonstration of Energysaver for California State And Municipal LeadersProspective Customers, Media And Facilities Managers Welcome to Attend January 30th Seminar Featuring The Energysaver(TM) As Answer to Energy Crisis Midwest Generation Cuts Power Plant Emissions Energy Update/Los Angeles Department of Water And Power Issues Daily Energy Update for Tuesday, Jan. 23, 2001 Nuclear Regulatory Commission Availability of Technical Study of Spent Fuel Pool Accident Risk at Decommissioning Nuclear Power Plants Governor to Unveil a Sweeping Energy Plan Energy Chief Not Inclined to Bail Out California Square D Selects Sbs Technologies to Supply Embedded Computer Platforms for Their Next Generation Electrical Power Management Systems Top Energy Summaries - Tuesday, January 23, 2001 - 11:54 Am Geonet Services Adds Online Supply And Marketing Management Systems to Its Software OfferingsAgreements with Three Trading System Developers Mark Energy Industry Milestone, As Geonet Is First to Offer Multiple Energy Marketing Applications Via An Asp Platform. Two of World's Largest Power Grids Agree to Collaborate Calif. Utility Ends Overtime Ban After Dark Weekend Michigan Announces Settlement with Detroit Edison Regarding Conners Creek Power Plant Banc of America Securities' Agha Initiates Research Coverage of Distributed Energy And Independent Power Producers Globaltex, a Coal Energy Company Seeks to Enter Electricity Generation Business in The United States Energy Costs Devour Funds: State's $400 Million to Be Spent in Week Daniel Weintraub: Alternative Energy Key to Ending the Power Crisis Top Energy Summaries - Tuesday, January 23, 2001 - 9:40 Am Dynamotive's Successful Biooil Combustion Tests Opens Opportunities for Biooil As A Clean Substitute for Natural Gas And Other Fossil Fuels in Multi-Billion Dollar Industrial Fuels Market Southern Increases Commitment to Energy Search Credit Facility Expanded to $75 Million Energy Office Reviews Electricity Fines; Price Dispute Lingers Top Energy Summaries - Tuesday, January 23, 2001 - 8:51 Am Usdatacenters Implements American Power Conversion's Silcon Solution to Provide Industry-Leading Data Center PowerApc Provides Power, Project And Service Expertise for Usdatacenters' New Massachusetts Center ``Hydrogen & Fuel Cell Investors' Newsletter'' Completes First Year of Publication Hcfp/Brenner Securities, Inc. Engaged As Investment Banker to Cambridge Energy Corporation CANADIAN AND U.S. BANKS TO FINANCE POWER PLANT IN MEXICO ---------------------------------------------------------------------- I N T E R N A T I O N A L ---------------------------------------------------------------------- Access stories online at: http://www.powermarketers.com/pma-intr.htm Top Energy Summaries - Tuesday, January 23, 2001 - 5:18 PM Philippines - Energy - 1/22/01 10:18:48 Am Congo (Drc) - Energy - 1/22/01 10:18:06 Am Scottish Power Also Interested in Powergen Nippon Steel to Enter Wind Power Business Industrial Power Demand Up 2.6 Pct in Japan in DEC. TransAlta Wins Bank Of America-SEE Backing For Mexico Generation Project Top Energy Summaries - Tuesday, January 23, 2001 - 2:11 PM Brazil: Piratininga Thermal Electric Facility to Operate with Natural Gas Endesa's Central Costanera Q4 loss caused by higher energy purchase prices Hcfp/Brenner Securities, Inc. Engaged As Investment Banker to Cambridge Energy Corporation Cbi's 6th Annual Brazil Energy 2001; Status of Regulations And Electric And Gas Markets, Opportunities in Privatization And Development Krupp to Reconstruct Uzbek Coal Industry Nippon Steel to Launch Wind-Power Generation Business Ness Introduces Innovative Ultracapacitors for Electric Vehicle And Hybrid-Electric Vehicle Applications; New Award Winning Ultracapacitors Feature High Performance in A Low Cost Package British Energy Extends Seebeyond Solution to Support Implementation of 'World-Class' Work Management System Japan's Hitachi, Fuji Electric tying up in power supply venture Ramapo Energy Project Reaches Key Regulatory Milestone China, Germany to Cooperate in Energy Development China's First Group of Power Transmission Projects Underway Fuel Cell-Powered Cars to Debut in Japan by 2010:Govt Philippines Malampaya Gas Plant to Save Power Sector US$14.6 Mln Rwe in Talks with Spanish Power Group ---------------------------------------------------------------------- KRT DAILY ENERGY NEWS ---------------------------------------------------------------------- Access stories online at http://www.powermarketers.com/pma-krt.htm Saint Paul Pioneer Press, Minn., Investor's Eye Column Minnesota Groups Unveil Proposed Energy Bill That Focuses on Conservation California Utility, Once Exalted for Deregulation, Now Excoriated for It Long-Time California Utility Employees Sad to See `Family' Break Apart Power Talks Yield Some Progress in California Energy Crisis Washington State Leaders Seek Healthy Way to Deal with Energy Crisis Water Grant Awarded to Two Heath Springs, S.C., Industries Energy Costs Fueling Caution, Concern in Rhode Island Many Pennsylvania Consumers Switch to Green Power Florida Power Corp. Plans to Move Three Orlando, Fla.-Area Offices Californians Face Tough Choice on Power New Hampshire Supreme Court's Ruling Permits Deregulation of Electric Utility Fort Worth Star-Telegram, Texas, Todd Mason Column Oregon Lawmaker Issues Call to Re-Regulate Energy Answers to West Coast Energy Crisis Blowing in The Wind Energy Company's Advertising Gets Colorado Residents Seeing Red Deregulation Prompts Texas Utilities to Boost Staff Toll on California Businesses, Economy Feared After State's Power Woes Texas Utility Blames Higher Costs, Cold Weather for Rising Gas Bills Senators Call for Fast Action from Bush Administration on Energy Crisis Columbia, S.C., Residents Cope with Higher Power Bills California Electric Utility's Options Are Increasingly Dim University of California Board Gives Feds A New Role in Nuclear Lab Control Federal Officials Expect Energy Prices to Begin Long, Steady Decline ---------------------------------------------------------------------- REUTERS ---------------------------------------------------------------------- Access stories online at: http://207.32.82.57/news/ElectricPower.html DPL Energy profits in line, sees 2001 ahead of Street view TABLE-AEP Q4 ongoing shr $0.49 UPDATE 1-Cominco cuts zinc output to supply Calif. power Utilicorp sees 2000 earnings above forecasts Atmos Energy first quarter 2001 results beat estimates Lack of power lines pose N. Calif. blackout threat ADVISORY - Duke Energy Corp. Emergency power seen averting California blackouts Turkish energy minister beats back censure vote PSEG makes case for new Salem nuke water discharge permit UPDATE 2-AEP Q4 earnings rise 2.6 pct, 2001 seen higher PG&E welcomes renewal of energy orders, says solutions needed Salt plant still closed a week after Kansas explosions Calif 'hiccup' won't unplug deregulation -Dynegy CEO PPL shares lead electric utilities higher WRAPUP 4-Calif. gets power help -- and deadline US envoy meets Indian state chief on Enron project PSE&G sets redemption of preferred shares Poland picks EdF-EnBW group to buy power plant Dominion Resources to sell $500 mln-$1 bln notes Safety system shuts down Russian nuclear reactor Dynegy earnings handily beat raised expectations Italian multi-utility Acegas confirms IPO plan Philadelphia mayor proposes $2.9 billion budget Merrill says power crisis hurts Calif. muni bonds Con Ed urges FERC to fix N.Y. wholesale electric market AEP fourth-quarter operating earnings up 2.6 percent, Moody's raises Northeast Utilities ratings FERC staff mull ways to monitor Calif power market PSEG sees Q1 earnings trailing 2000 level TABLE - Hawaiian Electric Q4 results New Issue - Dominion Resources sells $1.0 bln debt UPDATE 4-Dynegy posts record earnings in fourth quarter US issues last order on Calif natgas, power supply UPDATE 2-Dynegy posts record earnings in fourth quarter UPDATE 1-California CEOs say power crisis threatens economy Northeast Utilities Q4 oper net share $0.47 vs. $0.35 Moody's revises National Rural unit's l-t rtg outlook TABLE - Public Service Enterprise Q4 net UPDATE 2-PSEG earnings jump 56 percent, more gains seen ***************************************************** NEW on the POWERMARKETERS.COM TRAINING PAGE ***************************************************** Access all online presentations at: http://www.pmaconference.com New! Now you can choose to stream the presentation immediately over the web, or download it to your computer for later viewing-- Free! New! Five additional RealVideo-based powerpoint-based presentations, with the accompanying audio. Running about 30 minutes each, the new selections include: ELECTRONIC TRADING. Power is following natural gas to become an electronically-traded commodity. The products, the technology and the future of electricity transactions. Kevin Sluder, Vice President, HoustonStreet Exchange. NUTS AND BOLTS OF RETAILING. What it takes to put an energy retailing operation together-- the cash and credit requirements, back office, information technology, staffing, marketing, sales and organizational considerations. Andrew Serri, Vice President, AmerenEnergy Marketing. RETAIL: WHAT WENT WRONG, HOW TO FIX IT. Retail electric deregulation has thus far been an underwhelming success, but a great deal has been learned, and it is eminently fixable. By Dr. John O'Brien, Principal, Skipping Stone MANAGING BILLING. The complex requirements for managing billing and commodities in the deregulating energy industry cannot be met with current CIS and CRM technology. Energy Retailers must embrace the next evolution of energy customer management (ECM) solutions. Paul Grey, Chief Technology Officer, Peace Software. THE INTERNET AND THE VELOCITY FACTOR. Greater price transparency, faster execution, reduced transaction costs, increased number and frequency of transactions and increased specialization are just some of the changes to energy markets wrought by the web, and it's just beginning. Implecations of the internet for energy markets. E. Russell "Rusty" Braziel, Chairman and Director, Altra Energy Technologies. 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? ----- Subject: Click and go to http://www.enerfax.com if can not view properly.htm ? [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Click here for a daily email link Enerfax Daily [IMAGE] [IMAGE] Enerfax Daily? -? Page ? -? October 30, 2000? -? ? Need a Past Issue -Click Here [IMAGE] [IMAGE] [IMAGE] Enerfax Daily? -? Page ? -? October 30, 2000 [IMAGE] [IMAGE] [IMAGE] [IMAGE] Enerfax Daily? -? Page ? -? October 30, 2000 [IMAGE] [IMAGE] Enerfax Daily? -? Page 6? -? October 30, 2000 [IMAGE] (Continued from Page 5) agreed governments will promote more trade and investment, 70% agreed that globally consistent accounting principles will be established by 2010, and over 80% believed the companies dominating the utility business in 2010 will be multi-national. Those results validate the strategies of companies using mergers and acquisitions to create global giants. However, events such as the IMF protests in Prague and WTO protests in Seattle this year highlight what could be growing opposition to globalization. Politics can veer off in unexpected directions, so it is unwise to be so committed to any one view of where voters and government policy are moving that you lack contingency plans. Utilities can minimize their risk in this uncertain era, while at the same time moving forward decisively. They can use management tools such as scenario-based planning, real options valuation, and computer modeling - these approaches provide the means for understanding the array of strategies available and for defining the significance of choosing one or the other. Additionally, the studies show that utilities need systems, processes, and a culture that make them versatile - that permit them to nurture 'just-in-case' technologies, products, and businesses, spot leading indicators of change, and switch strategies without confusion and delay. The two reports are segments of The Utility Executive's Field Guide to the Future. Part 1 summarizes the results of a global survey of 185 decision makers in utilities, corporations, and engineering firms in 15 countries, while Part 2 focuses on the outlook for regulatory policy and globalization. Part 2 is based not only on the survey results but also on 75 subsequent interviews with utility CEOs, power managers in large corporations, government officials, and others around the world. The research also included an intensive review of economic studies, government reports, opinion surveys, and other sources. For more information visit [IMAGE] [IMAGE] Enerfax Daily? -? Page 7? -? October 30, 2000 [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] For more information, please Contact Ron Ford at Ziff Energy Group, Houston, TX (713) 627-8282 or Toll Free: 1-888-736-5780 Also, visit our web-site, www.ziffenergy.com, to review our Brochure. [IMAGE] [IMAGE] CMS and Saudi Group in Power Deal ? ? CMS Energy and Saudi Arabia's al-Zamil Group plan to jointly construct power and water desalination plants in Saudi Arabia. The two companies have agreed to work together to finance, construct and manage new power and water plants on a 50/50 basis, with CMS serving as operator of the facility. Saudi Arabia needs 28,000 MW over the next 15 years to serve growing demand. [IMAGE] Financial Summary [IMAGE] [IMAGE] The TSE 300 fell 106.85 points to 9321.89 The CRB Index lost 1.34 points to 219.26 The US Dollar decreased 1.05 points to 117.39 The Dow advanced 210.50 points to 10590.62 The S&P 500 gained 15.14 points to 1379.58 The Nasdaq was up 6.18 points to 3278.36 December NYMEX Crude Oil fell 0.97 to 32.74 Canadian-US Exchange was 1.5272 ")} TC [IMAGE] - blnk.gif - img17.gif - img18.gif - img19.gif - img20.gif - img11.gif - img21.gif - img7.gif - img22.gif - img8.gif - img23.gif - img24.gif - img25.gif - img26.gif - img27.gif - img28.gif - img29.gif - img30.gif - img31.gif - id=1381847 - img32.gif
I plan to start at 10: 00 with those present. Obviously we'll revisit issues after tomorrow, so anyone who isn't there can express their views later... but I'm inclined to make as much progress as we can rather than to wait for a full quorum. Mike Florio wrote: > I am flexible, but would like to know when the meeting will actually start, > since I'm driving up from Oaktown. And I believe Bill Marcus and I are > still meeting with Edison afterward, right John Fielder?? > > At 09:51 AM 12/4/2000 -0800, Tony Braun wrote: > >Madame Chair Elsesser: > > > >It appears you may not have a quorum. I too have a conference call at 10:00 > >a.m. I hope to be able to make it over to the Commitee around 11:00-11:30 > >a.m. > > > >Thank you for your patience. > > > >Tony Braun > >Braun & Associates, P.C. > >915 L Street > >Suite 1460 > >Sacramento, California 95814 > >(916) 441-1733 > >(916) 441-4053 (facsimile) > >[email protected] > > > >Counsel to CMUA > > > >-----Original Message----- > >From: [email protected] [mailto:[email protected]] > >Sent: Monday, December 04, 2000 8:08 AM > >To: [email protected] > >Cc: Aaron Thomas (E-mail); Tony Braun (E-mail); Carolyn McIntyre > >(E-mail); Delaney Hunter; Evelyn Elsesser (E-mail); John Fielder > >(E-mail); Jeff Dasovich (E-mail); [email protected]; Mike Florio > >(E-mail); Jan Smutny-Jones (E-mail); Bill Booth (E-mail) > >Subject: Re:CESG Committee Meeting > > > > > > > >Greetings. I have a conflict in the morning, but could join by conference > >calling beginning at 2 pm. Is that possible. If not, no big deal. I, > >like Ralph, will catch up at the next meeting, and submit our ideas to Eve > >between now and then. Let me know. And I agree with Ralph re: staying > >focused on the most urgent issues. > > > >Best, > >Jeff > > > > > > > > > > RCavanagh@nrd > > > > c.org (Ralph To: "Delaney Hunter" > > > > Cavanagh) <[email protected]>, > >"Aaron Thomas > > (E-mail)" <[email protected]>, > >"Bill Booth > > 12/03/2000 (E-mail)" <[email protected]>, > >"Carolyn > > 07:30 PM McIntyre (E-mail)" > ><[email protected]>, > > "Evelyn Elsesser (E-mail)" > ><[email protected]>, "Jan > > Smutny-Jones (E-mail)" > ><[email protected]>, "Jeff > > Dasovich (E-mail)" > ><[email protected]>, "John > > Fielder (E-mail)" > ><[email protected]>, "Mike > > Florio (E-mail)" > ><[email protected]>, "Tony Braun > > (E-mail)" <[email protected]>, > >[email protected] > > cc: > > > > Subject: Re:CESG Committee > >Meeting > > > > > > > > > > > >Colleagues: it turns out that at this hour I will be presiding over > >hearings in > >Wyoming on the disposal of wastes from nuclear weapons (your condolences > >are > >gratefully accepted). I hope to join the next meeting, whenever it is. My > >advice remains what I said at our Dec. 1 meeting: let's try to help the > >legislature stay focused for now on the most urgent electricity issues that > >absolutely must be addressed now: forward contracting in the wholesale > >markets > >to reduce customers' exposure to very high and volatile wholesale prices, > >and a > >rate stabilization plan to deal with the issues surrounding this year's > >wholesale costs. If we can help narrow the immediate issues to those, and > >frame > >the differences and decisions that remain, we'll have made a useful > >contribution. > > > >____________________Reply Separator____________________ > >Subject: CESG Committee Meeting > >Author: "Delaney Hunter" <[email protected]> > >Date: 12/01/2000 1:47 PM > > > >Folks- > >Ok, so you are the chosen ones...... > >Just to reiterate the meeting will be on > >Tuesday, December 5, 2000 > >at 10:00 am > >CA Chamber of Commerce > >1215 K Street, 14th Floor > > > >Please give me a call if you have any questions or need further details. > > > >Thanks, > >Delaney > > > >Received: from mail07a.vwh1.net ([209.238.9.57]) by mail.nrdc.org with SMTP > > (IMA Internet Exchange 3.14) id 000A55F7; Fri, 1 Dec 2000 16:46:50 -0500 > >Received: from www.smithandkempton.com (208.55.14.51) > > by mail07a.vwh1.net (RS ver 1.0.58s) with SMTP id 021558702; > > Fri, 1 Dec 2000 16:48:05 -0500 (EST) > >Reply-To: <[email protected]> > >From: "Delaney Hunter" <[email protected]> > >To: "Aaron Thomas (E-mail)" <[email protected]>, > > "Bill Booth (E-mail)" <[email protected]>, > > "Carolyn McIntyre (E-mail)" <[email protected]>, > > "Evelyn Elsesser (E-mail)" <[email protected]>, > > "Jan Smutny-Jones (E-mail)" <[email protected]>, > > "Jeff Dasovich (E-mail)" <[email protected]>, > > "John Fielder (E-mail)" <[email protected]>, > > "Mike Florio (E-mail)" <[email protected]>, > > "Ralph Cavanagh (E-mail)" <[email protected]>, > > "Tony Braun (E-mail)" <[email protected]>, > > <[email protected]> > >Subject: CESG Committee Meeting > >Date: Fri, 1 Dec 2000 13:47:05 -0800 > >Message-ID: <000001c05be0$403b3d80$0300000a@5001> > >MIME-Version: 1.0 > >Content-Type: text/plain; > >Content-Transfer-Encoding: 7bit > >X-Priority: 3 (Normal) > >X-MSMail-Priority: Normal > >X-Mailer: Microsoft Outlook CWS, Build 9.0.2416 (9.0.2910.0) > >X-MimeOLE: Produced By Microsoft MimeOLE V5.00.2615.200 > >X-Loop-Detect: 1 > > > >
That sports email was great! ! -----Original Message----- From: Miller, Stephanie Sent: Monday, October 29, 2001 7:54 AM To: Whitt, Mark Subject: FW: WESTERN FRONTIER PROJECT FYI - WE'RE CHECKING ON ENTERGY -----Original Message----- From: Calcagno, Suzanne Sent: Monday, October 29, 2001 7:53 AM To: Kinsey, Lisa; Sullivan, Patti; Schrab, Mark L.; Miller, Stephanie; Superty, Robert Subject: WESTERN FRONTIER PROJECT WILLIAMS PUTS MEAT ON THE BONES OF WESTERN FRONTIER PROJECT DESIGN Touting a need for more pipeline capacity linking the "prolific" supply basins of the central Rockies and increasingly hungry Mid-Continent markets, The Williams Cos. Inc. last week took the next step by filing for authorization to build and operate the Western Frontier project. The sponsor has in hand four negotiated-rate deals for long-term service covering roughly two-thirds of the 540,000 Dt/day of project design capacity, it told FERC in an Oct. 24 certificate application (CP02-11). Williams wants to have the $366 million project up and running by Nov. 1, 2003; it asked the commission to issue a final certificate by Dec. 11, 2002, so that it can commence construction by the following April. Williams unveiled initial plans for Western Frontier early last summer (IF, 9 July, 14) and held an open season in June and July. To carry gas from the Power River, Big Horn, Wind River and Green River basins- estimated to hold 173 Tcf of potential and recoverable reserves - the new 30-inch-diameter mainline would run 398 miles, starting at the Cheyenne Hub and ending at an interconnection with the system of affiliate Williams Gas Pipelines Central Inc. in Beaver County, Okla. Characterizing the Cheyenne Hub as "a liquid point of supply," Williams asserted that "presently, supply capability to the hub has outpaced transportation capacity away from the hub to market areas due to insufficient pipeline infrastructure." Along the way, the Western Frontier mainline would make another interconnection with Williams Central as well as with Northern Natural Gas Co., ANR Pipeline Co., Natural Gas Pipeline Co. of America and Panhandle Eastern Pipeline Co., "thus providing multiple avenues for gas produced in the central Rockies to be transported throughout the Mid-Continent using the existing pipeline grid." To "further enhance its supply options," the sponsor wants to build a 9.7-mile lateral from the mainline to the Wattenberg gas processing plant east of Denver to tap the Denver-Julesberg basin. Rounding out the project design are two new compressor stations, the 10,000-horsepower Chalk Bluff station to be constructed at the Cheyenne Hub and the 20,000-hp Denver station to be built in Adams County, Colo. Following the open season, Williams hammered out precedent agreements with Marathon Oil Co. (75,000 Dt/day), Williams Energy Marketing and Trading Co. (200,000 Dt/day), Utilicorp United Inc. (15,000 Dt/day) and Entergy Power Generation Corp. (75,000 Dt/day). The initial term for the deals is 10 years, except for Marathon which committed to a five-year term with an option to extend it an additional two years, said the application. "Other shippers have expressed serious interest for the remaining capacity on Western Frontier, and active negotiations are moving forward with these potential shippers," said the application, adding that Williams was "confident . . . that the remaining capacity will be committed in the upcoming months." With the addition of compression, the project could "facilitate relatively inexpensive expansions to accommodate future market growth," the sponsor told FERC. And that may well be necessary, it continued, pointing to "stagnant to declining supply" in the Mid-Continent basins coupled with "projected demand increases." As in many areas of the country, "much of the anticipated demand increase is attributed to installation and operation of . . . gas-fired electrical generation," it said. The 11,439 Mw of "active winter generating capacity" in the combined service areas of Western Frontier and Williams Central is expected to more than double by 2004, said Williams. The application seeks negotiated rate authority for the project operator, Western Frontier Pipeline Co. LLC, and approval of initial recourse rates. The maximum daily reservation rate under schedule FTS would be 35?/Dt for contract demand in Zone 1 and 79.4?/Dt in Zone 2. Under the negotiated deals reached with the four "anchor" shippers, Utilicorp and Entergy would pay a combined reservation and commodity rate of 25?/Dt at a 100% load factor for Zone 1 service to the Williams Central Hugoton station in Kansas, while WEM&T would pay a combined rate of 30?/Dt for Zone 2 transportation to the Williams Central system in Oklahoma and Marathon would pay 32?/Dt under the shorter contract for Zone 2 service to interconnects with ANR, Panhandle and Williams Central in Oklahoma. All transportation would originate at the Cheyenne Hub.
What is GIS info? Can you do this? ---------------------- Forwarded by Phillip K Allen/HOU/ECT on 06/30/2000 12:53 PM --------------------------- Enron North America Corp. From: David W Delainey 06/30/2000 07:42 AM Sent by: Kay Chapman To: Raymond Bowen/HOU/ECT@ECT, Wes Colwell/HOU/ECT@ECT, Janet R Dietrich/HOU/ECT@ECT, Jeff Donahue/HOU/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, John J Lavorato/Corp/Enron@Enron, George McClellan/HOU/ECT@ECT, Jere C Overdyke/HOU/ECT@ECT, Brian Redmond/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Mark E Haedicke/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Julia Murray/HOU/ECT@ECT, Greg Hermans/Corp/Enron@Enron, Paul Adair/Corp/Enron@Enron, Jeffery Ader/HOU/ECT@ECT, James A Ajello/HOU/ECT@ECT, Jaime Alatorre/NA/Enron@Enron, Brad Alford/ECP/HOU/ECT@ECT, Phillip K Allen/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Tim Belden/HOU/ECT@ECT, Michael J Beyer/HOU/ECT@ECT, Brian Bierbach/DEN/ECT@Enron, Donald M- ECT Origination Black/HOU/ECT@ECT, Greg Blair/Corp/Enron@Enron, Brad Blesie/Corp/Enron@ENRON, Michael W Bradley/HOU/ECT@ECT, Craig Breslau/HOU/ECT@ECT, Christopher F Calger/PDX/ECT@ECT, Cary M Carrabine/Corp/Enron@Enron, George Carrick/HOU/ECT@ECT, Douglas Clifford/Corp/Enron@ENRON, Bob Crane/HOU/ECT@ECT, Joseph Deffner/HOU/ECT@ECT, Kent Densley/Corp/Enron@Enron, Timothy J Detmering/HOU/ECT@ECT, W David Duran/HOU/ECT@ECT, Ranabir Dutt/Corp/Enron@Enron, Craig A Fox/HOU/ECT@ECT, Julie A Gomez/HOU/ECT@ECT, David Howe/Corp/Enron@ENRON, Mike Jakubik/HOU/ECT@ECT, Scott Josey/Corp/Enron@ENRON, Jeff Kinneman/HOU/ECT@ECT, Kyle Kitagawa/CAL/ECT@ECT, Fred Lagrasta/HOU/ECT@ECT, Billy Lemmons/Corp/Enron@ENRON, Laura Luce/Corp/Enron@Enron, Richard Lydecker/Corp/Enron@Enron, Randal Maffett/HOU/ECT@ECT, Rodney Malcolm/HOU/ECT@ECT, Michael McDonald/SF/ECT@ECT, Jesus Melendrez/Corp/Enron@Enron, [email protected], Rob Milnthorp/CAL/ECT@ECT, Gil Muhl/Corp/Enron@ENRON, Scott Neal/HOU/ECT@ECT, Edward Ondarza/HOU/ECT@ECT, Michelle Parks/Corp/Enron@Enron, David Parquet/SF/ECT@ECT, Kevin M Presto/HOU/ECT@ECT, Steve Pruett/Corp/Enron@Enron, Daniel Reck/HOU/ECT@ECT, Andrea V Reed/HOU/ECT@ECT, Jim Schwieger/HOU/ECT@ECT, Cliff Shedd/NA/Enron@Enron, Hunter S Shively/HOU/ECT@ECT, Stuart Staley/LON/ECT@ECT, Fletcher J Sturm/HOU/ECT@ECT, Thomas M Suffield/Corp/Enron@ENRON, Bruce Sukaly/Corp/Enron@Enron, Jake Thomas/HOU/ECT@ECT, C John Thompson/Corp/Enron@ENRON, Carl Tricoli/Corp/Enron@Enron, Max Yzaguirre/NA/Enron@ENRON, Sally Beck/HOU/ECT@ECT, Nick Cocavessis/Corp/Enron@ENRON, Peggy Hedstrom/CAL/ECT@ECT, Sheila Knudsen/Corp/Enron@ENRON, Jordan Mintz/HOU/ECT@ECT, David Oxley/HOU/ECT@ECT, Brent A Price/HOU/ECT@ECT, Mike Swerzbin/HOU/ECT@ECT, Alan Aronowitz/HOU/ECT@ECT, Edward D Baughman/HOU/ECT@ECT, Bryan Burnett/HOU/ECT@ECT, James I Ducote/HOU/ECT@ECT, Douglas B Dunn/HOU/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Robert Greer/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Andrew Kelemen/HOU/ECT@ECT, Grant Masson/HOU/ECT@ECT, Jesse Neyman/HOU/ECT@ECT, Ozzie Pagan/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, William Rome/HOU/ECT@ECT, Lance Schuler-Legal/HOU/ECT@ECT, Vasant Shanbhogue/HOU/ECT@ECT, Gregory L Sharp/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Sheila Tweed/HOU/ECT@ECT, Greg Wolfe/HOU/ECT@ECT, Mark Dobler/NA/Enron@Enron, Thomas A Martin/HOU/ECT@ECT, Steven Schneider/Enron@Gateway cc: Cindy Skinner/HOU/ECT@ECT, Ted C Bland/HOU/ECT@ECT, David W Delainey/HOU/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Christy Chapman/HOU/ECT@ECT, Stella L Ely/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Yolanda Ford/HOU/ECT@ECT, Donna Baker/HOU/ECT@ECT, Katherine Benedict/HOU/ECT@ECT, Barbara Lewis/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Carolyn George/Corp/Enron@ENRON, Kimberly Brown/HOU/ECT@ECT, Claudette Harvey/HOU/ECT@ect, Terrellyn Parker/HOU/ECT@ECT, Maria Elena Mendoza/NA/Enron@Enron, Ina Rangel/HOU/ECT@ECT, Debra Davidson/PDX/ECT@ECT, Jessica A Wentworth/DEN/ECT@Enron, Catherine DuMont/PDX/ECT@ECT, Betty J Coneway/HOU/ECT@ECT, Nicole Mayer/HOU/ECT@ECT, Sherri Carpenter/HOU/ECT@ECT, Susan Fallon/Corp/Enron@ENRON, Tina Rode/HOU/ECT@ECT, Tonai Lehr/Corp/Enron@ENRON, Iris Wong/CAL/ECT@ECT, [email protected], Maxine E Levingston/Corp/Enron@Enron, Lynn Pikofsky/Corp/Enron@ENRON, Luann Mitchell/Corp/Enron@Enron, Ana Alcantara/HOU/ECT@ECT, Deana Fortine/Corp/Enron@ENRON, Deborah J Edison/HOU/ECT@ECT, Lisa Zarsky/HOU/ECT@ECT, Angela McCulloch/CAL/ECT@ECT, Dusty Warren Paez/HOU/ECT@ECT, Cristina Zavala/SF/ECT@ECT, Felicia Doan/HOU/ECT@ECT, Denys Watson/Corp/Enron@ENRON, Angie Collins/HOU/ECT@ECT, Tammie Davis/NA/Enron@Enron, Gerry Taylor/Corp/Enron@ENRON, Lorie Leigh/HOU/ECT@ECT, Airam Arteaga/HOU/ECT@ECT, Tina Tennant/HOU/ECT@ECT, Mollie Gustafson/PDX/ECT@ECT, Pilar Cerezo/NA/Enron@ENRON, Patti Thompson/HOU/ECT@ECT, Leticia Leal/HOU/ECT@ECT, Darlene C Forsyth/HOU/ECT@ECT, Rhonna Palmer/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT, Joya Davis/HOU/ECT@ECT, Erica Braden/HOU/ECT@ECT, Anabel Gutierrez/HOU/ECT@ECT, Jenny Helton/HOU/ECT@ect, Christine Drummond/HOU/ECT@ECT, Kevin G Moore/HOU/ECT@ECT, Dina Snow/Corp/Enron@Enron, Lillian Carroll/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Laura Harder/Corp/Enron@Enron, Nancy Hall/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Crystal Blair/HOU/ECT@ECT, Angie Collins/HOU/ECT@ECT, Donna Baker/HOU/ECT@ECT, Melissa Jones/NA/Enron@ENRON, Beth A Ryan/HOU/ECT@ECT, Shirley Crenshaw/HOU/ECT@ECT, Tamara Jae Black/HOU/ECT@ECT, Amy Cooper/HOU/ECT@ECT, Kay Chapman/HOU/ECT@ECT Subject: (Reminder) Update GIS Information This is a reminder !!! If you haven't taken the time to update your GIS information, please do so. It is essential that this function be performed as soon as possible. Please read the following memo sent to you a few days ago and if you have any questions regarding this request, please feel free to call Ted Bland @ 3-5275. With Enron's rapid growth we need to maintain an ability to move employees between operating companies and new ventures. To do this it is essential to have one process that will enable us to collect , update and retain employee data. In the spirit of One Enron, and building on the success of the year-end Global VP/MD Performance Review Process, the Enron VP/MD PRC requests that all Enron Vice Presidents and Managing Directors update their profiles. Current responsibilities, employment history, skills and education need to be completed via the HR Global Information System. HRGIS is accessible via the HRWEB home page on the intranet. Just go to hrweb.enron.com and look for the HRGIS link. Or just type eglobal.enron.com on the command line of your browser. The target date by which to update these profiles is 7 July. If you would like to have a hard copy of a template that could be filled out and returned for input, or If you need any assistance with the HRGIS application please contact Kathy Schultea at x33841. Your timely response to this request is greatly appreciated. Thanks, Dave
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: "Ferranti, Bill" <[email protected]> 03/21/2001 04:41 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]>, "Ferranti, Bill" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Schoenbeck, Don" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Speer, Jack" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Early, Michael" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Forsyth, Pete" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Murphy, Paul" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "Bliven, Ray" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]> cc: Subject: WP-02 Data Response <<PN-DS-001-004.doc>> Attached is the response to PN-DS:001-004 and PN-AL:001-004. Bill Ferranti Murphy & Buchal LLP 503-227-1011 [email protected] - PN-DS-001-004.doc
I am Cathy Phillips, Mike McConnell's assistant and I am responding to your message of his behalf. He has asked that I schedule the meeting as requested in your message below. Please contact me at 713-853-6898 or [email protected] and I will be happy to assist in anyway that I can. Thank you. Cathy Phillips To: [email protected], [email protected] cc: Nadia Rodriguez/SA/Enron@Enron, Marianne M Arake/SA/Enron@Enron Subject: Need your help representing your Analysts For some reason I couldn't get this off to you sooner. Please read below. Thanks ---------------------- Forwarded by Federico Cerisoli/SA/Enron on 07/05/2000 12:30 PM --------------------------- Federico Cerisoli 06/30/2000 12:09 PM To: Gene E Humphrey@ENRON_DEVELOPMENT, Mark Palmer/Corp/Enron@ENRON, David Cox@Enron Communications, Michael E Moscoso/HOU/ECT@ECT, James C Lewis/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Vijay Sethu/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Barend VanderHorst@ENRON_DEVELOPMENT, Hector Gutierrez/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John House@ECT, Richard Leibert/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cathy Pittenger/HOU/EES@EES, Mark Courtney@ECT, Jon Thomsen@ENRON COMMUNICATIONS cc: Nadia Rodriguez/SA/Enron@Enron, Marianne M Arake/SA/Enron@Enron Subject: Need your help representing your Analysts As you probably know, the Western Hemisphere A&A PRC will be held in Houston on July 19th. Each member of the PRC committee will represent 15 to 17 analysts that have been randomly assigned. I've been selected as a member of the Analyst PRC Committee representing participants that are under your direct supervision. As a PRC rep, I will continue to represent the assigned Analysts (see list below) during their entire tenure with the Analyst Program. Thus, I need your help in supplying me performance information for these candidates (including pre-ratings if available) and recommendations for promotion if he or she is eligible. In addition, for those of you based out of Houston I'd like to meet with each of you individually (15 or 20 minutes should be enough) during the 17th and the 18th of July (if you are not based out of Houston or you'll be out of town during those days, we can certainly do it over the phone the week of the 10th. I'm based out of Sao Paulo (in transition from Buenos Aires) and I'll be landing in Houston the morning of the 17th, so I'll be ready to begin these short meetings by 11am on the 17th. I would very much appreciate if you can indicate your time preference for those two days. FYI, the following is the list of participants that I'll be representing in the July 19th PRC meeting: Analyst Name Supervisor Ahanchian, Amir Cyrus Humphrey, Gene Allen, Margaret Palmer, Mark Ashmore, Garrett Cox, David Benien, Michael Moscoso, Michael Black, Robin Lewis, James Cerny, Ward Sethu, Vijay Chenoweth, Christopher Lewis, James Falcone, Daniel Moscoso, Michael Ferrara, Julie McConnell, Michael Hausinger, Sharon Vanderhorst, Barend Hernandez Veiga, Alejandro Gutierrez, Hector Hoff, Jonathan House, John Jachimiak, Matthew Lewis, William Mena, Luis Leibert, Richard O'Malley, Justin Pittenger, Cathy Scarborough, John Courtney, Mark Vegalara, Mateo Thomsen, Jon Please call me at 5511-5503-1397 in Sao Paulo or at 5411-4891-3600 in Buenos Aires. It will be of enormous help if you can let us know the name and telephone number of your assistants so Marianne Arake (Sao Paulo 5511-5503-1197) and/or Nadia Rodriguez (Buenos Aires 5411-4891-3644) can follow up on the schedule in Houston. Thanks for your co-operation. Fede
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/01/2000 02:45 PM --------------------------- Enron North America Corp. From: Maria Sandoval 01/25/2000 01:32 PM To: Andrea R Guillen/HOU/ECT@ECT, Phenicia Olivier/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Cassandra S Dutton/HOU/ECT@ECT, Cecilia Olvera/HOU/ECT@ECT, Lorraine Becker/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT, Angela Henn/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Chantelle Villanueva/HOU/ECT@ECT, [email protected], [email protected], Judy Hernandez/HOU/ECT@ECT, Elizabeth Soto/HOU/ECT@ECT, [email protected], [email protected], Pamela Sonnier/HOU/ECT@ECT, Brenda Barreda/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Fwd: So Very True... This is sooooo very true. ---------------------- Forwarded by Maria Sandoval/HOU/ECT on 01/25/2000 01:32 PM --------------------------- Judy Hernandez on 01/25/2000 01:25:08 PM To: Melissa Rodriguez/HOU/ECT@ECT, Maria Sandoval/HOU/ECT@ECT, Elizabeth Soto/HOU/ECT@ECT, Lisa Shoemake/HOU/ECT@ECT, Melba Lozano/HOU/ECT@ECT, Amber Limas/HOU/ECT@ECT, Leslie Smith/HOU/ECT@ECT, Angela Barnett/HOU/ECT@ECT, Rose Botello/HOU/ECT@ECT, Shirlet Williams/HOU/ECT@EES cc: Subject: Fwd: So Very True... ---------------------- Forwarded by Judy Hernandez/HOU/ECT on 01/25/2000 01:22 PM --------------------------- From: Michelle Neville 01/25/2000 01:04 PM To: Alicia Jones/HOU/ECT@ECT, Paula Pierre/HOU/ECT@ECT, Cassandra Moses/HOU/ECT@ECT, Rhonda Robinson/HOU/ECT@ECT, [email protected], [email protected], Judy Hernandez/HOU/ECT@ECT, Sandra R McNichols/HOU/ECT@ECT, Paul Ramirez/HR/Corp/Enron@ENRON cc: Subject: Fwd: So Very True... ---------------------- Forwarded by Michelle Neville/HOU/ECT on 01/25/2000 01:00 PM --------------------------- Jessica Anaya 01/25/2000 08:47 AM To: Leslie Linares/Corp/Enron@ENRON, Claudia Meraz/HOU/ECT@ECT, Etelvina Guerra/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Michelle Neville/HOU/ECT@ECT, Angela Barnett/HOU/ECT@ECT, [email protected] cc: Subject: Fwd: So Very True... ---------------------- Forwarded by Jessica Anaya/HOU/ECT on 01/25/2000 08:46 AM --------------------------- Helen Martinez <[email protected]> on 01/24/2000 09:01:56 PM To: Jessica Anaya/HOU/ECT@ECT, Monica Anaya <[email protected]>, Yanett Anaya <[email protected]>, Keziah Apura <[email protected]>, Carmen Cantu <[email protected]> cc: Subject: Fwd: So Very True... Note: forwarded message attached. __________________________________________________ Do You Yahoo!? Talk to your friends online with Yahoo! Messenger. http://im.yahoo.com X-Apparently-To: [email protected] via mdd202.mail.yahoo.com X-Track2: 2 X-Track: -50 Received: from law-f256.hotmail.com (HELO hotmail.com) (209.185.130.172) by mta121.mail.yahoo.com with SMTP; 24 Jan 2000 23:26:45 -0000 Received: (qmail 33988 invoked by uid 0); 24 Jan 2000 23:26:43 -0000 Message-ID: <[email protected]> Received: from 152.163.197.74 by www.hotmail.com with HTTP; Mon, 24 Jan 2000 15:26:43 PST X-Originating-IP: [152.163.197.74] From: "Rios Belinda" <[email protected]> To: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] Subject: Fwd: So Very True... Date: Mon, 24 Jan 2000 15:26:43 PST Mime-Version: 1.0 Content-Type: text/plain; format=flowed Content-Length: 4268 >From: "Beverly Wehmeyer" <[email protected]> >To: <[email protected]>,<[email protected]>, ><[email protected]>,<[email protected]>, <[email protected]> >Subject: So Very True... >Date: Mon, 24 Jan 2000 17:14:46 -0600 > > >> Subject: So very true. Everyone must read this. It's beautiful > >> > >> Happiness...... > >> > >> We convince ourselves that life will be better after we get married, >have > > >> a > >> baby, then another. Then we're frustrated that the kids aren't old >enough > > >> and we'll be more content when they are. After that, we're frustrated >that > > >> we have teenagers to deal with. We'll certainly be happy when they're >out > > >> of > >> that stage. > >> > >> We tell ourselves that our life will be complete when our spouse gets >his > > >> or > >> her act together, when we get a nicer car, are able to go on a nice > >> vacation, when we retire. > >> > >> The truth is, there's no better time to be happy than right now. If not > >> now, > >> when? > >> > >> Your life will always be filled with challenges. It's best to admit >this > > >> to > >> yourself and decide to be happy anyway. > >> > >> One of my favorite quotes comes from Alfred D. Souza. He said, "For a > >> long > >> time it had seemed to me that life was about to begin - real life. But > >> there > >> was > >> always some obstacle in the way, something to be gotten through first, > >> some > >> unfinished business, time still to be served, or a debt to be paid. > >> > >> > >> Then life would begin. At last it dawned on me that these obstacles >were > > >> my > >> life." > >> > >> This perspective has helped me to see that there is no way to >happiness. > > >> Happiness is the way. So, treasure every moment that you have and > >> treasure > >> it more because you shared it with someone special, special enough to > >> spend > >> your time with...and remember that time waits for no one. > >> > >> > >> So, stop waiting until you finish school, until you go back to school, > >> until > >> you lose ten pounds, until you gain ten pounds, until you have kids, >until > > >> your kids leave the house, until you start work, until you retire, >until > > >> you > >> get married, until you get divorced, until Friday night, until Sunday > >> morning, until you get a new car or home, until your car or home is >paid > > >> off, until spring, until summer, until fall, until winter, until you're > >> off > >> welfare, until the first or fifteenth, until your song comes on, until > >> you've had a drink, until you've sobered up, until you die, until >you're > > >> born again to decide that there is no better time than right now to be > >> happy. > >> > >> Happiness is a journey, not a destination. > >> > >> Thought for the day: > >> Work like you don't need money, > >> Love like you've never been hurt, > >> And dance like no one's watching. > >> > >> > >> An Angel To Watch over You > >> Some people come into our lives and quickly go.. > >> Some people become friends and stay a while.. leaving beautiful > >> footprints on our hearts and we are never quite the same because we >have > > >> made a good friend!! > >> > >> > >> Yesterday is history. > >> Tomorrow a mystery. > >> Today is a gift. > >> That's why it's called the present! > >> > >> I think this is special..... > >> live and savor every moment..... > >> this is not a dress rehearsal! > >> > >> > >> (\ /) > >> ( \ __ / ) > >> ( \ ( ) / ) > >> (( /<>\ )) TAKE THIS LITTLE ANGEL > >> ( / \/\/ \ ) AND KEEP HER CLOSE TO > >> ( ) YOU SHE IS YOUR GUARDIAN > >> ( ) ANGEL SENT TO WATCH > >> ( ) OVER YOU~~~~~~ > >> > >> > >> THIS IS A SPECIAL GUARDIAN ANGEL... YOU MUST PASS THIS ON TO 5 PEOPLE > >> WITHIN > >> THE HOUR OF RECEIVING HER..AFTER YOU DO MAKE A WISH....IF YOU HAVE >PASSED > > >> HER ON, YOUR WISH WILL BE GRANTED AND SHE'LL WATCH OVER YOU >FOREVER....IF > > >> NOT..HER TEARS WILL FLOW AND NO WISHES WILL BE GRANTED.... > >> > >> Now don't delete this message,because it comes from a very special >angel. > ______________________________________________________ Get Your Private, Free Email at http://www.hotmail.com
---------------------- Forwarded by Darron C Giron/HOU/ECT on 02/02/2001 01:51 PM --------------------------- From: Russell Diamond 01/30/2001 09:42 AM To: Larry Joe Hunter/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Melinda Whalen/CAL/ECT@ECT, Dianne Seib/CAL/ECT@ECT, Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Corp/Enron@ENRON, Kevin Meredith/Corp/Enron@ENRON, Ellen Wallumrod/NA/Enron@ENRON, Celeste Cisneros/NA/Enron@Enron, Diane Anderson/NA/Enron@Enron, Tiffany Williams/NA/Enron@Enron, Cindy Feldman/CAL/ECT@ECT, Patricia Boulanger/CAL/ECT@ECT, Linda Sietzema/CAL/ECT@ECT, Sharon Crawford/CAL/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya Rohauer/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Russell Diamond/HOU/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Nidia Mendoza/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT, Kam Keiser/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, Errol McLaughlin/Corp/Enron@ENRON, Darron C Giron/HOU/ECT@ECT, Walter Guidroz/NA/Enron@Enron, Leslie Reeves/HOU/ECT@ECT, Veronica Gonzalez/HOU/ECT@ECT, Phillip M Love/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@ENRON cc: Subject: Credit Report - 1/30/01 Counterparty TAGG# Comment AEP Communications, Inc. q00902.1 Rebook to AEP Energy Services, Inc. Anadarko Energy Services Company q02635.1 Rebook to Anardarko Petroleum Corporation Aquila Energy Gas Marketing qO0107.1,qO0135.1 Rebook to Utilicorp United, Inc. Arizona Electric Power Cooperation qO1746.1 Rebook to Arizona Public Service Company Bank of America N.A. qO2878.1.2 Rebook to Bank of America, National Association Boardwalk Equities Inc. qN9053.3 Pending Russell Diamond Cook Inlet Region Inc. qO1585.1 Rebook to Cook Inlet Energy Supply LLC EOG Resources Marketing, Inc. qO2581.1 Pending Rudwell Johnson Interstate Gas Company qO1554.2 Rebook to Interstate Gas Supply, Inc./ "Need L/C" language in confirm Interstate Gas Supply, Inc. qO1549.2 "Need L/C" language required in Confirm J Aron & Company (Singapore) qO2464.1 Rebook to J Aron & Company Long Beach, City of, Inc qO2420.1 Pending Rudwell Johnson Louis Dreyfus Natural Gas Holdings qO0682.1 Rebook to Louis Dreyfus Corporation Markwest Hydrocarbons, Inc qO2489.1 Penidng Russell Diamond Metromedia Energy, Inc qO0099.1,qO0142.1 Pending Rudwell Johnson Midcoast Energy Resources, Inc. qO1579.1,qO1581.1 Rebook to Midcoast Marketing, Inc. -New ISDA Executed National Fuel Marketing Company qO3208.1 Pending Brant Reves, Veronica Espinoza National Fuel Resources, Inc. qO0648.1 Pending Jay Williams New Counterparty qO2519.1 Pending Russell Diamond Newark Group Inc. The qO3223.1 Pending Rudwell Johnson PSNC Production Corporation Inc. qO1462.1 Pending Darren Vanek PanCanadian Energy Inc. qO1735.1 Rebook to PanCanadian Energy Services, Inc. Premier Enterprises LLC qO2599.1 Pending Brant Reves Salt River Project Agriculture qO233.1 Pending Jay Williams Southern Company Energy Marketing qO3294.1.2 Rebook to Mirant Americas Energy Marketing LP Tauber Petrochemical Co q02876.1 Rebook to Tauber Oil Company U.S. Brick Company qO1584.1 Pending Brant Reves USGT Resources, Inc. qO0143.1 Rebook to USGT/Aquila LP Unicom Energy Inc q)0903.1 Pending Darren Vanek Unocal Corporation qO1049.1 Rebook to Union Oil Company of California Williams Natural Gas Company qO2919.1.2.3 Rebook to Williams Energy Marketing & Trading
Monday, November 19, 2001 Power Measurement [IMAGE] HOME - CONTENT SELECTION - MEMBER SERVICES - ADVERTISING - PARTNERING - CONTACT US [IMAGE] [IMAGE] IN THIS ISSUE [IMAGE] [IMAGE] Daily Edition for [email protected] [IMAGE] Electric Power News Restructuring Today Utility Spotlight RER's eMetrix Load Forecast: CAL ISO Electric Power News - Top Stories Electric Power News - Most Requested Gas Industry News - Top Stories Selected Content Not In This Issue Utility Stock Price - Top Gainers - Each Tuesday [IMAGE] ELECTRIC POWER NEWS [IMAGE] [IMAGE] [IMAGE] [IMAGE] Selected 88 of 88 Articles Today! THESE ARTICLES BROUGHT TO YOU BY Gain the competitive intelligence you need to make the best business decisions. Energy Central's Operating Plant Experience Code (OPEC) is a must for all aspects of analyzing nuclear power plant performance. If you need to identify or compare trends of lost generation, OPEC can help. Wouldn't it be great to be able to identify causes of poor performance? OPEC can be used to set performance criteria at the system, component, or unit level. Don't delay! Download a free trial version of OPEC today at http://www.energycentral.com/sections/databases/OPEC [IMAGE] [IMAGE] Gain exposure to thousands of energy professionals with your company's white papers today. Energy Central, the industry's most comprehensive on-line information resource is gathering white papers for inclusion the newest section of its Research Report Center. Don't be left out - to learn how to submit your white papers, e-mail [email protected]. http://www.energycentral.com/sections/research / Top Stories Security Conference to Examine Interconnected Systems Nov. 18 (Clearing Up) When the US Department of Defense strategized about taking out critical infrastructure in foreign countries, military leaders came to a disturbing conclusion: The United States' own power grid is terribly vulnerable. Special Offer from this Publisher! [IMAGE] Lawmaker demands ruling on Cal-ISO independence WASHINGTON, Nov 16 (Reuters) - A California Republican lawmaker this week turned up the heat on federal energy regulators to rule on his complaint alleging improper information-sharing between two key state electricity agencies. [IMAGE] Electric-Power Deregulation Presents Uncertainty for Oklahoma By Larry Levy, The Daily Oklahoman, Nov. 17 One sure thing about the move toward electric power deregulation is uncertainty, the former chairman of Federal Energy Regulatory Commission and the president of the Public Service Co. of Oklahoma said Thursday. [IMAGE] Task Force Sends Results from Electric Industry Study to Florida Legislature By David Twiddy, Tallahassee Democrat, Fla., Nov. 16 After 16 months of work, a state task force studying how to inject competition into Florida's electricity industry Thursday sent its recommendations to the Legislature. Energy Security Official: No Threat to Nuclear Plants Nov 17 - Associated Press The United States has not received any credible threats to its nuclear power plants and there are multiple layers of defense in place to prevent an attack, a nuclear regulatory official said Saturday. Schumer Seeks Threat Assessment At W. Valley, State's Other N-Sites Nov 17 - Buffalo News - Financial Edition Sen. Charles E. Schumer has asked Homeland Security Director Tom Ridge and the Nuclear Regulatory Commission to assess the threat from terrorists to the West Valley Demonstration Project and to nuclear reactors and power plants in New York State. Federal Guards for Nuke Plants Sought Nov 16 - Associated Press Two Democratic senators plan to introduce legislation after the Thanksgiving congressional recess to federalize security guards at the country's nuclear power plants. California Crisis Geothermal Plants Sue Southern California Edison over $100 Million Payment By Carrie Peyton, The Sacramento Bee, Calif., Nov. 15 A group of geothermal power plants sued Southern California Edison on Wednesday, alleging the utility is reneging on a $100 million payment agreement reached during the height of the state electricity crisis. Governor's greased lighting / Davis criticized for accepting money from power companies Nov 16 - San Francisco Chronicle After having sworn off campaign contributions from energy companies, Gov. Gray Davis has started taking money from power providers seeking to do business with the state. [IMAGE] ADVERTISEMENT How has Enron remained a dominant factor in energy markets while other firms have struggled? To find out visit: http://www.energycentral.com/links/show_mi.cfm?id=100386 Competition & Deregulation Deregulation yields few choices for Arizona consumers Nov 16 - AZB, Arizona Business The Electric Power Competition Act passed in 1998 by the Arizona Legislature redefined the relationship between the consumer and publicly owned power entities. Electricity Dereg Not Foreseen Soon Nov 17 - The Commercial Appeal There has been interest in opening Mississippi to electricity competition, but it probably won't happen any time soon, says Public Service Commissioner Nielsen Cochran. Electricity Provider Faults Data Flow but Opposes Texas Deregulation Delay By Laura Goldberg, Houston Chronicle, Nov. 16 The New Power Co., a major player in the state's test pilot of electricity deregulation, said Thursday that problems getting data from other entities have caused it to send out customer bills late and without all the appropriate charges. State Approves System In Which Single Company Runs Power Lines Nov 15 - Palm Beach Post Florida has moved one step closer to a deregulated electricity market. CHANGES MAY LEAD TO FEWER UTILITIES; ELECTRIC DEREGULATION COULD SPARK MERGERS Nov 17 - Roanoke Times & World News As electric deregulation gets under way in earnest in Virginia, some observers worry that mergers will result in a return to the days when only a few powerful companies controlled the industry. Mergers, Acquisitions & Divestitures Seven bids for Warsaw power distributor WARSAW, Nov 16 (Reuters) Poland's treasury received seven initial offers by Friday's deadline for up to 25 percent of state-owned electricity distributor STOEN, which operates in the lucrative Warsaw area, the treasury ministry said. Houston Power, Communications Lines Builder Steels Itself against Takeover Bid By Nelson Antosh, Houston Chronicle, Nov. 17 Quanta Services, which builds and maintains power and communications lines, said Friday it is fighting a "creeping takeover" by UtiliCorp United, one of the nation's largest utility holding companies. TXU to sell Eastern Energy network - FT LONDON, Nov 16 (Reuters) TXU, the U.S. energy group, is expected next week to announce the sale of its eastern England electricity network to Electricite de France for more than one billion pounds($1.43 billion), the Financial Times reported on Friday. Trade, bank buyers circle Enron's Wessex Water-reports LONDON, Nov 17 (Reuters) Both financial and trade buyers are considering bids for Wessex Water, the UK utility owned by crisis-hit U.S. energy group Enron, weekend press reports said. EdF declines to comment on reported takeover of UK's Eastern Energy PARIS, Nov 16, 2001 (AFX-UK via COMTEX) -- Electricite de France declined to comment on a report in the Financial Times which said it has agreed to buy TXU Corp's Eastern Energy electricity network in the east of England for over 1 bln stg. Bolivia: NRG Energy acquires Cobee and Bulo Bulo Bolivia, Nov 13, 2001 (La Razon/SABI via COMTEX) -- NRG Energy acquired a 98.9% stake in power company Cobee (Compania Boliviana de Electricidad) and a 60% stake in the Bulo Bulo thermoelectric power plant situated in Carrasco, Cochabamba. Legislation/Regulation Southwestern Public Service Company Files Complaint at FERC Against Golden Spread Electric Cooperative, Docket No. EL02-21 Nov. 19 (Btu Watch) On November 13, 2001 Southwestern Public Service Company (SPS) submitted a complaint with the Federal Energy Regulatory Commission (FERC) against Golden Spread Electric Cooperative, Inc. (Golden Spread) alleging that Golden Spread has violated the Commitment and Dispatch Service Agreement (C?Agreement) which the parties entered into in 1998 as a settlement for the resolution of then-pending litigation between the parties. Special Offer from this Publisher! Distributed Generation 13 city generators up for sale; SURPLUS: Diesel units helped get Tacoma through energy crisis last year Nov 16 - The News Tribune For sale: 13 diesel generators. Rates Florida Utility Proposes Variable Rate Fees By Steve Huettel, St. Petersburg Times, Fla., Nov. 17 For the first time, Florida Power wants to charge residential customers different rates based on how much electricity they use. United Illuminating files new electric rate plan NEW YORK, Nov 16 (Reuters) Connecticut electric utility United Illuminating Co. filed with the state to extend its rate plan through the end of 2007, the company said in a statement on Friday. Massachusetts Electric seeks electric rate cut NEW YORK, Nov 16 (Reuters) With the recent decline in the price of the oil and natural gas that is burned to generate electricity, Massachusetts Electric Co. filed with the state to reduce electric rates, the utility said in a statement Friday. Electric-Power Users May Feel a Surge - in Rates Nov 16, 2001 - Omaha World-Herald The cost of electricity may start going up in parts of Nebraska, now that Nebraska Public Power District has approved an 8 percent increase in its wholesale rate. General NPPD, state celebrate cooperation Nov 16 - Omaha World - Herald Good things can happen when regulators and those being regulated work closely together, public officials said Thursday. City lays out energy plan today; Daley to emphasize conservation, wind and solar power Nov 16 - Chicago Sun - Times Mayor Daley will unveil the city's first energy plan today, emphasizing wind and other renewable power sources. Lawmakers seek to close public utility records Nov 15 - Florida Times Union When the Times-Union requested public records from the JEA this summer, it found an eye-opening story: Some homeowners had used millions of gallons of water to maintain their lawns while Jacksonville suffered from a drought. Trading/Marketing RWE's Trading unit to also trade energy in London ESSEN, Germany, Nov 16, 2001 (AFX-UK via COMTEX) -- RWE AG said its Trading unit will trade energy in London in addition to oil, gas and coal. Cien Inaugurates Power Sales Portal Brazil, Nov 16, 2001 (BNamericas.com via COMTEX) -- The Cien consortium, which is controlled by Spain's Endesa, has created a portal on the Internet to sell surplus electricity in Brazil, in the context of the country's power crisis, Endesa said. Atel And Egt Create Energy Trading Company Nov 17, 2001 - FT World Media Abstracts via Comtex Swiss energy trader Atel and the German electricity supplier EGT Energie have created a joint trading company in Trieberg (Germany). New Technologies/Markets Latham, N.Y.-Based Firm Plans to Test Superconducting Cable under Highway By Kenneth Aaron, Times Union, Albany, N.Y., Nov. 15 Intermagnetics General Corp.'s quest to wire the nation's power grid with superconducting cable will start with a quarter-mile stretch beneath Interstate 90 in Albany. Danbury, Conn.-Based Fuel Cell Maker Signs Distribution Deal with Caterpillar By David A. Smith, Waterbury Republican-American, Conn., Nov. 16 FuelCell Energy Inc., which said Tuesday its Torrington manufacturing facility is now ready to meet the expected market demand for its miniature power plants, announced a deal Thursday giving it an instant distribution network across the United States. Deals/Contracts Nigeria Awards Contracts to Check Power Shortage Nov 16 - Xinhua News Agency - CEIS The Nigerian government has awarded 14 major contracts totaling 25.6 billion naira (229.2 million U.S. dollars) for the construction and erection of transmission lines for the state-run National Electric Power Authority (NEPA) to provide steady and uninterrupted power supply to the nation by December. Power Pricing/Supply Bargains Galore at the Energy Store Nov. 16 (Special to Western Price Survey Contacts) Western electricity prices took a deep slide this week, falling to the 20 mills/KWh mark or less at most locations. Special Offer from this Publisher! Crude Politics Nov. 15 (Energy Market Report) Day-ahead electricity prices in the Western U.S. extended their losses in Thursday trade. Special Offer from this Publisher! Transmission & Reliability Boston-Area Electric Firm Launches $12 Million in Projects By Peter J. Howe, The Boston Globe, Nov. 16 After committing over $30 million for fast-track electric reliability upgrades in Boston and Brookline, NStar Electric has launched another $12 million worth of projects aimed at solving recurring power failures in several suburbs that generated public outcry this summer. Kansai Electric Strikes Info Deal with N.Y. Power Operator Nov 16, 2001 - Kyodo News Kansai Electric Power Co. said Friday it has struck a deal with New York Independent System Operator (NYISO), which runs New York State's power grid, to swap information on technologies to ensure stable power transmission. Power Projects Decision Nears for Two Coal-Fired Power Plants in Thailand Bangkok Post, Thailand, Nov. 16 The government is caught in a dilemma over the two coal-fired power plant projects in Prachuap Khiri Khan. Gas Power Plant Construction Set near Chickasha, Okla. By Rick Robinson, The Daily Oklahoman, Nov. 17 A Dallas-based power company plans to start building a $200 million gas-fired merchant power plant here next year. Legal Energy Seller Plans to Buy Back Stock in Trading Operation Despite Lawsuits By Steve Everly, The Kansas City Star, Mo., Nov. 16 UtiliCorp United Inc. is facing 10 lawsuits over its plans to reacquire all stock in Aquila Inc., but a top UtiliCorp executive said Thursday that the company was hearing little opposition and had no plans to change its offer. Large pension funds weigh legal options over Enron By Martha Slud, NEW YORK, Nov 16 (Reuters) Some big pension funds that invested in Enron Corp. said on Friday they are considering legal options in the wake of the energy giant's stock collapse and a regulatory probe of its dealings. Wisconsin Agency's Counsel Comes Under Fire for Excluding Non-Lawyers By Lee Hawkins Jr., Milwaukee Journal Sentinel, Nov. 16 State Senator Rod Moen and several business and consumer groups blasted the Public Service Commission's lawyer Monday for a legal opinion that non-lawyers should not be allowed to participate in rate cases and other formal agency proceedings. Renewables Dams back big Northwest U.S. push for wind power By Nigel Hunt, LOS ANGELES, Nov 16 (Reuters) The Pacific Northwest is not among the windiest areas of the United States but that doesn't seem to be slowing its rapid emergence as a leading region for the production of wind energy. Wind Power Receives Major Boost from Department of Energy By Will McNamara, IssueAlert, Nov. 16 (Scientech) Secretary of Energy Spencer Abraham announced the department's Bonneville Power Administration will purchase the entire output of a wind project in Gilliam County, Ore. Special Offer from this Publisher! Missouri Natural-Resources Chief Fired Up over 'Green Power' By Steve Friedman, Columbia Daily Tribune, Mo., Nov. 15 Renewable power sources such as wind, solar, and animal and plant wastes are viable energy forms in Missouri, the director of the state's Department of Natural Resources believes. POLITICIANS PROPOSE SOLAR ENERGY PLAN Nov 16, 2001, (Les Echos /FT Information via COMTEX) -- Reporting on the cost of renewable energy sources in France, UDF deputy Claude Birraux and Jean-Yves Le Deaut of the PS told the parliamentary office for the evaluation of technological and scientific choices yesterday that France had made a mistake in hoping that investment in wind energy alone would be enough to satisfy the relevant European directive. OPPD will tap renewable power of wind and methane Nov 16 - Omaha World - Herald Put aside your image of Nebraska as the home of the Big Red. Starting next year, it could be considered the home of the Big Green. Renewables summit venue moved to Washington, D.C. Nov 16 - Las Vegas Review - Journal A summit on renewable energy and the use of public land to develop it has been moved from Pomona, Calif., to Washington, D.C., the Interior Department announced Wednesday. Windmills go online today Nov 15 - Fort Worth Star - Telegram Getting something good out of that blustery West Texas wind, two of the state's largest power companies will flip the switch today on 100 new windmills that will provide additional electricity to North Texas. Bonds Will Finance Wind-Power Project Nov 16 - Columbian Energy Northwest has sold its first bonds without the backing of the Bonneville Power Administration in 20 years, closing a chapter on the utility consortium's inglorious financial history. Winds of Conflict Blow on Green Power Nov 17, 2001 - Australasian Business Intelligence Randall Bell is the Victorian chairman of the National Trust of Australia. Energy Efficiency/Conservation Tacoma, Wash., Power Company Sends Customers Coupons for Bulbs, Fixtures By Kris Sherman, The News Tribune, Tacoma, Wash., Nov. 15 Coupons for energy-efficient compact fluorescent light bulbs and light fixtures are being mailed to Tacoma residents in their power bills. People Executive of Pittsburgh-Area Electricity Supplier Transfers Back to Virginia By Frank Reeves, Pittsburgh Post-Gazette, Nov. 15 Dominion Resources Inc. said it planned to eliminate 19 -- or nearly a quarter -- of its senior managers by year's end and will transfer its top local manager back to its Richmond, Va., headquarters. President of Western Resources Subsidiary in Kansas to Retire The Wichita Eagle, Kan., Nov. 15 The president of KGE announced his retirement Wednesday, the same day that executives of Western Resources unveiled plans to merge KPL and KGE under a new name, Westar Energy. Cal-PERS Will Block Old Enron Board from Joining New One Nov. 18 (California Energy Markets) The California Public Employees Retirement System, which owns three million shares of the battered giant Enron, announced at the end of a closed-door meeting it will oppose the appointment of current Enron board members to the merged Enron-Dynegy company board. Special Offer from this Publisher! Labor/Human Resources Akron, Ohio-Based Energy Firm Mulls Cuts after Merger Reading Eagle, Pa., Nov. 15 A spokesman for GPU Energy said Wednesday no final decision has been made on job cuts resulting from the acquisition of GPU Inc. by Akron, Ohio-based FirstEnergy Corp. Belgian Gas And Electricity Unions Accept Electrabel Offer Nov 17, 2001 - FT World Media Abstracts via Comtex Belgian gas and electricity sector unions, respectively FEG and CGSLB, have accepted the terms of a protocol agreement on the status of employees at Electrabel. Deal Averts Power Workers' Strike Nov 17, 2001 - Newsquest (The North East) Ltd The threat of industrial action by nuclear power workers on Teesside has been averted after union leaders agreed a new pay deal. Fuel Delta, Utah-Area Power Agency Seeks Changes to Open-Meetings Act By Steven Oberbeck, The Salt Lake Tribune, Nov. 16 The Intermountain Power Agency, operator of the Intermountain Power Project near Delta, wants to modify the state's Open and Public Meetings Act to allow its member cities to hold private meetings to discuss coal contracts. GNP Development-Kiewit Announce Plans for Coal Projects in Montana Nov. 12 (News Release) Great Northern Power Development LP and Kiewit Mining Group Inc. today formally announced their venture to develop certain lignite holdings in Eastern Montana for mine-mouth, coal-fired power plant projects. Environmental Wisconsin Moves to Purchase 9,200 Acres from Electric Utility By Jo Sandin, Milwaukee Journal Sentinel, Nov. 15 More than 14 square miles of forest, waterfalls and fly-fishing rapids along the Peshtigo River will be purchased from an electric utility for $25 million, Gov. Scott McCallum announced Wednesday -- a move immediately criticized by some conservation groups because the company was already required to keep the land in a pristine state until at least 2037. California Energy Agency Alienates Allies with Rule Change By Chris Bowman, The Sacramento Bee, Calif., Nov. 15 Allies of the California Energy Commission on Wednesday protested its decision that allows higher-polluting power plants to run decades longer than planned. US Senate delays utility pollution bill until Feb. WASHINGTON, Nov. 15 (Reuters) The Senate Environment Committee will delay until February a planned bill to slash U.S. power plant air pollution to give the Bush administration more time to provide its recommendations, the panel said on Thursday. Nuclear Mie Town Votes Against Urging Firm Build Nuclear Plant Nov 18, 2001 - Kyodo News Residents of a small town in the western Japan prefecture of Mie on Sunday voted against the idea of having a power company build a nuclear power plant in the region in the first such plebiscite to be held with no pending construction plans at stake. Citizens' Group Opposes Cleanup Agreement between Connecticut, Utility By Paul Choiniere, The Day, New London, Conn., Nov. 16 The state and Connecticut Yankee Atomic Power Co. have reached an agreement on how the company's former nuclear power plant and the property around it should be cleaned up, but the cleanup plan still faces opposition from a citizens' group. European parliament emphasises key role of nuclear energy Brussels, Nov 16, 2001 (M2 PRESSWIRE via COMTEX) -- The need to retain nuclear power in Europe's energy mix was underlined by a series of votes in the European Parliament yesterday (Thursday). Public Confidence in Nuclear Power Shaken Nov 17, 2001 - Kyodo News Public confidence in nuclear power has been shaken amid a series of recent accidents at a nuclear reactor in the town of Hamaoka in Shizuuoka Prefecture in the heart of earthquake-prone central Japan. Public spat puts nuclear rebirth at risk Nov 16 - The Guardian Britain's two nuclear power groups, British Energy and British Nuclear Fuels, have embarked on an unprecedented row over fuel and reprocessing costs that threatens to tear the industry apart. Financial Reliant gets $2.2 bln to fund purchase of Orion HOUSTON, Nov 16 (Reuters) Power generator and marketer Reliant Resources Inc. on Friday said it had arranged for a $2.2 billion credit facility to help finance its planned $2.9 billion purchase of electric power generating firm Orion Power Holdings Inc. Enron plans to sell off losing assets Nov 16 - Tulsa World Enron Corp., the once-mighty energy trader, is dumping money-losing assets and focusing on its core wholesale power marketing business as it moves toward a merger with rival Dynegy Inc. Electric companies returning to market Nov 17 - Asset - Backed Alert Two affiliates of Northeast Utilities are planning to securitize special charges on consumere electric bills. Northwestern Eyes Early Bond Market Refinancing Nov. 18 (Power Finance & Risk) Sioux Falls, S.D.-based NorthWestern will look to tap the bond market by year-end with a $600 million offering to repay a similar sized one-year term loan. Special Offer from this Publisher! Low Yields Draw Scottish Utility To Market Nov. 18 (Power Finance & Risk) Scottish & Southern is considering tapping the bond market in the next few weeks to refinance debt at historically low levels. Special Offer from this Publisher! Financial - Results Energy firms buck the trend Nov 16 - The Guardian Two leading British energy groups, BG and International Power, yesterday brushed aside sliding oil and power prices as they delivered higher profits and forecast earnings growth. International Brit Energy, AES want UK to spread power probe cost LONDON, Nov. 16 (Reuters) British Energy and AES said on Friday costs of nearly 900,000 pounds ($1.29 million) incurred by a Competition Commision probe into an operating licence dispute should be shouldered by all UK producers and not just themselves. Czech official says grid could derail CEZ selloff By Petra Vodstrcilova, PRAGUE, Nov 16 (Reuters) A senior parliamentary official on Friday turned up pressure on the government to change its energy privatisation plan, saying failure to do so may derail the largest sale in the country's history. Ontario eyes non-profit option for power firm TORONTO, Nov 16 (Reuters) Ontario's giant electricity distributor, Hydro One, could be transformed into a non-profit entity instead of a fully privatized commercial company under a new plan being studied by the provincial government. Power firms urged to supply power to users of new entrants TOKYO, Nov 16, 2001 (Kyodo via COMTEX) -- The Fair Trade Commission (FTC) said Friday it is illegal for the nation's major electric power companies to deny power supply contracts with corporations that receive power from new entrants in the power industry. Brazil: Government postpones privatization of Furnas Brazil, Nov 16, 2001 (Gazeta Mercantil/SABI via COMTEX) -- The privatization of Furnas Centrais Eletricas will not be held in 2002, on the contrary of what said the Brazilian president Mr. Fernando Henrique Cardoso. Private Industry Holds Back On Energy Investments MEXICO CITY, Nov 16, 2001 (El Universal/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Private industry held back 15.683 billion pesos of investment in the Mexican energy sector this year, despite having agreed with Petroleos Mexicanos (Pemex) and the Federal Electricity Commission (CFE) to make these investments, reported Mexico City daily el Universal. Enbw Denies Agreement in Spain Nov 16, 2001 - FT World Media Abstracts via Comtex Energie Baden-Wurttemberg (EnBW), the German energy company, has denied reports in the Spanish media over the future control of the country's fourth largest electricity supplier, Hidrocantabrico. Brazil : El Paso to Set Up Thermal Facility at Bahia State Nov 16, 2001 - South American Business Information El Paso has plans to set up a thermal electric facility at Bahia state. Government Still to Decide About Power Companies' Privatization Nov 16, 2001 - South American Business Information The Ecuadorian government still has not decided when the 17 power companies will be privatized. Vattenfall Interested in Co-Operation with German Gas Supplier Vng Nov 16, 2001 - FT World Media Abstracts via Comtex Verbundnetz Gas AG, Germany's second-largest gas supplier, would be affected if the conglomerate E.ON AG were to succeed in acquiring a majority stake in Ruhrgas, the country's largest gas supplier, as it is thought that Ruhrgas would have to reduce its stake in VNG from the current 36.84 per cent. Electric (Bill) Shock Nov 16, 2001 - Australasian Business Intelligence Victoria's electricity consumers are getting ready for higher power prices in late 2001. NGC: More gas stations needed to avert shortages Nov 15 - Daily News - New Plymouth BUILD more gas-fired power stations -- or face more and more national electricity shortages. [IMAGE] Powered by Energy Central ? 2001 CyberTech, Inc. All rights reserved. More News Top Allegro Development [IMAGE] RESTRUCTURING TODAY [IMAGE] [IMAGE] [IMAGE] [IMAGE] November 19, 2001 Peretz advocates city aggregating in NJ markets Wants NJ to be more like Mass Builder to cut energy use 33% AGA seeks support for R?tax in new federal law Shell sees fuel cells getting big post- 2025 market share Gas seen as bridge to fuels of future Buyers take PUC right to Supreme Court in Calif Texas PUC staff against surtax CORRECTION E-bills flourish in time of anthrax La PSC wants more study of retail competition 2 stories in 0.5 minutes: Powered By US Publishing ? 2001 US Publishing. All Rights Reserved. More Info Top SchlumbergerSema [IMAGE] UTILITY SPOTLIGHT [IMAGE] [IMAGE] [IMAGE] [IMAGE] November 12, 2001 Beleagured Enron Closes Merger With Rival Cross-Town Dynegy 3rd Quarter Earnings Surprising With PG&E?s $771M Net; Enron?s Loss PG&E?s Cash/Earnings Get Questions About Bankruptcy Reorganization Plan DC Current -- FERC Rules DWR Must Pay CA-ISO For Power Bought 2 State 3 IOU?s DC Current -- FERC Watching Enron?s Impact on Markets DC Current -- Nation?s Energy Sites Serious Targets?Report Communications & PR -- Ads with Timely Problems, Pictures Tout Exelon?s ?Welcome Change? Idea Communications & PR -- Duke Energy Communications & PR -- Crouse Hinds division of Cooper Industries? Communications & PR -- PSEG and KeySpan Power Marketing -- Significant Trend Seen in Stalling of Electric Competition by State Units Natural Gas -- EIA: No ?Fundamental Rationale? For $3+ Gas, More Likely $2-$3 Natural Gas -- Marathon to Pay $993M for CMS African Stakes Natural Gas -- FERC Okays NW Natural Interstate Storage Plan Nuclear -- Records of Loaned Nuclear Materials Found to Be Inaccurate?DOE Report Nuclear -- Niagara Mohawk Completes $603M Assets Sale Nuclear -- Westinghouse Sells Safety System to TVA Plant Around the Circuit -- Many Questions, But Few Answers As Voters Approve San Francisco Muni Around the Circuit -- UtiliCorp Sets $362.1M for 20% Aquila Buyback Around the Circuit -- Long Island Underwater Cable Plan Put on Hold Who?s News Rate Actions Contracts Moody?s Confirms Debt Ratings of GPU Subsidiaries After Takeover Financial Focus: PPL Set to Capitalize on Its Opportunities?Hecht Powered By Utility Spotlight ? 2001 Utility Spotlight. All Rights Reserved. More Info Top [IMAGE] RER'S EMETRIX LOAD FORECAST: CAL ISO [IMAGE] [IMAGE] [IMAGE] Actual and forecasted hourly load for CAL ISO. [IMAGE] CAL ISO Chart Powered By RER ? 2001 RER. All Rights Reserved. Top [IMAGE] ABOUT ENERGY CENTRAL DIRECT [IMAGE] [IMAGE] ABOUT ENERGY CENTRAL DIRECT This e-mail summary service is provided FREE to qualified professionals in the power industry. This e-mail summary may be redistributed provided it is kept in its entirety. * Click here to change your preferences. * Visit Member Services to START, STOP, or CHANGE FORMAT for all of your e-mail subscriptions. * To BEGIN receiving this service directly signup at www.enerycentral.com/sections/ecdirect/ . * To STOP receiving this service click here or send a message to [email protected] or call Member Services at 303-782-5510. PRESS RELEASES Submit press releases and other news to [email protected] . SPONSORSHIP AND ADVERTISING For sponsorship or advertising info call sales at 303-782-5510. 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Call Mark Johnson at 303-782-5510 Advertisement Williams Energy ELECTRIC POWER NEWS - TOP STORIES [IMAGE] [IMAGE] Energy Central's editors have selected these as the top stories of the day: Electric-Power Deregulation Presents Uncertainty for Oklahoma By Larry Levy, The Daily Oklahoman, Nov. 17 Lawmaker demands ruling on Cal-ISO independence WASHINGTON, Nov 16 (Reuters) - Security Conference to Examine Interconnected Systems Nov. 18 (Clearing Up) Task Force Sends Results from Electric Industry Study to Florida Legislature By David Twiddy, Tallahassee Democrat, Fla., Nov. 16 Advertisement Call for White Papers ELECTRIC POWER NEWS - MOST REQUESTED [IMAGE] [IMAGE] These stories have been most requested by Energy Central members in the last two weeks. Enron deals latest blow to U.S. power deregulation By Vibeke Laroi, SAN FRANCISCO, Nov 9 (Reuters) Deregulation seen as ?colossal failure,? says polling firm Nov. 5 (Public Power Weekly) Significant Trend Seen in Stalling of Electric Competition by State Units Nov. 12 (Utility Spotlight) Dynegy, Enron Merger Deal Worth Almost $25 Billion By Melita Marie Garza, Chicago Tribune, Nov. 10 Jesse Jackson Says Rainbow/PUSH Coalition Wants Role in Enron-Dynegy Deal By Nelson Antosh, Houston Chronicle, Nov. 13 GAS INDUSTRY NEWS - TOP STORIES [IMAGE] [IMAGE] Energy Central's editors have selected these as the top stories of the day: FERC meets on LNG plant restart security WASHINGTON, Nov. 16 (Reuters) - Indigent Gas Fund Plan in Georgia Faces Money Woes By Matthew C. 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******* Welcome to Bestfares.com's HOT DEALS BY EMAIL ******** BESTFARES.COM is your source for HOT TRAVEL DEALS. Visit our home page at http://www.bestfares.com. Also, remember to visit our Newsdesk daily at http://www.bestfares.com/travel_center/desks/newsdesk.asp where we post hundreds of deals every day that could save you up to 70% every time you travel! Subscribe and unsubscribe information can be found at the bottom of this newsletter. ************************ November 16, 2000 ********************** Don,t worry about airfares going up. We,ll lock in a low fare for you for travel through August 15, 2001. This deal includes 90 cities and the roundtrip fare is just $298 coast-to-coast. From California (home of a million still uncounted absentee ballots) to Florida (where political alligators wrestle for dominance), the country is at your disposal. COAST-TO-COAST FOR $298 ROUNDTRIP--OR LESS. It took us a few months to negotiate our new coast-to-coast fares because we wanted the best deal possible. No recounts herethe deal is now signed, sealed and delivered. The airlines have given us five fare hikes this year, as the majors try to cover higher fuel costs. Since saving money fuels our engine, we sympathized but went on to secure maximum savings for you. Fly coast-to-coast for $298 roundtrip or less on your choice of several airlines. For example, if you want to fly from Burlington (VT) to Los Angeles, the current 21-day advance purchase roundtrip is $742. Between Seattle and Myrtle Beach, the current 21-day advance is $687. We think you,ll agree that $298 looks a lot better. Discounts go as high as 60 percent for travel through August 15, 2001. Check out other travel Web sites (we love competition), do some comparison shopping, and you can understand how we,ve earned our low-fare wings and live up to the name, Bestfares.com. For more information on our newest bargains, visit: http://www.bestfares.com/view.asp?id=10067898 ROUNDTRIPS BETWEEN THE MIDWEST & THE EAST COAST FOR $198-218 Fly between select U.S. cities for as low as $198 roundtrip through August 15, 2001. Travel from the Midwest or the south-central part of the country to cities in the East on great sale fares--for example, Dallas/Fort Worth to Charlotte is only $198 at Bestfares.com vs. $418. Our wide selection of central cities on sale includes Houston, Dallas/Fort Worth, St. Louis, Minneapolis, Kansas City and many more. You have your choice of over 50 cities in the Eastern U.S. These roundtrip fares range between $198 and $218. Here,s a sample saving. The standard roundtrip fare between Minneapolis and Portland (ME) sells for $548, but we have it for $218. Your savings can be 60 percent or more. These prices are valid for travel Monday through Thursday travel but for just $10 more each way, you can fly on weekends. We went you to travel the world for less, and deals like this make it possible. To view more of our deeply discounted fares, access http://www.bestfares.com/view.asp?id=10067898 FLORIDA ON SALE FROM 50 CITIES FOR AS LITTLE AS $198 RT Are you looking for cheap airfares to use to escape the cold weather? Do you want to comb the beach for seashells (or search the cities for chads?). Soothe the late fall/early winter blues with Florida sunshine for as little as $198 roundtrip. Fly from 50 Midwest and Eastern cities to Jacksonville, Gainesville, Tallahassee, Orlando, Tampa, Fort Myers, Naples, West Palm Beach, Fort Lauderdale, Miami or Key West. The cheapest published fare between Chicago and Key West in January is $418 roundtrip. Through us, your cost is only $198. The travel period extends through August 15, so you can buy now for next year,s spring break or summer vacation. Check out our fantastic Florida fare sale at http://www.bestfares.com/view.asp?id=10107236 THREE-DAY ADVANCE FARES FOR $298 ROUNDTRIP OR LESS. This is one of our favorite deals because it eliminates the high penalty most travelers pay for last-minute trips. Our three-day advance purchase fares are valid for travel through August 15, 2001. Now you can have peace of mind when you need to travel with short notice--on a family emergency, on a last-minute business trip or when an &I just have to get the heck out of town8 mood arises. You can realize savings of up to 80 percent on these fares and fly when you want to fly, with only a three-day advance. You can even use this deal for the upcoming Thanksgiving holidays. For details, visit http://www.bestfares.com/view.asp?id=10067898 AUSTRALIA AND NEW ZEALAND ON SALE WITH UP TO $700 IN SAVINGS. It,s nearing the official summer season Down Under, and we have some hot deals to warm up your vacation planning. Forget about high-dollar fares of $1,600 roundtrip or more and take this opportunity to view some of the Best Fares to Australia and New Zealand. Please act quickly because there are only six days left to book these specials. If you can depart through December 11 or from December 24 through January 7, we can get you there for only $838 roundtrip from the West Coast. Choose from Melbourne or Sydney, Australia or Auckland, New Zealand. The fare for children ages two through 11 is just $666 roundtrip. Fares to Brisbane begin at $938 roundtrip, $741 roundtrip for children. We also have bargain fares to these exciting locales from other U.S. departure citiesand these fares cover holiday travel. For Brisbane, visit http://www.bestfares.com/view.asp?id=10106404. For Auckland, visit http://www.bestfares.com/view.asp?id=10106403. For Melbourne, visit http://www.bestfares.com/view.asp?id=10106402. For Sydney, visit http://www.bestfares.com/view.asp?id=10106401. 5 DAYS LEFT TO BOOK SAN JUAN & THE CARIBBEAN FROM $180 RT Have you been thinking about the tropics but avoided giving in to your travel dreams because of high-season costs? Never fear--Bestfares.com is here. We have San Juan, Puerto Rico on sale for such low prices that you can pinch some pennies and dredge up some dollars to put your vacation budget together. Tickets begin at just $180 roundtrip, and many of these fares allow travel through March 31, 2001. We have specials to San Juan from 81 U.S. cities that can save you up to half the cost of published fares. Other Caribbean destinations on sale include St. Thomas, St. Maarten, St. Croix and Antigua. Travel is not available December 18 through January 8. For further information, access http://www.bestfares.com/view.asp?id=10088489 LAST MINUTE HOLIDAY CRUISE BLOWOUT FROM $199 Pack your bags for some sun and fun during the holidays. Our Partners at Cruise.com have conjured up some great last-minute cruise deals for November, December, and January starting from $199. They even have space for Thanksgiving, Christmas and New Years! Why not set sail November 25, 2000 on a three-night holiday getaway to Key West departing from Tampa, Florida for $199? Or, why not spend Christmas or New Year,s Eve on a three-day cruise to the Bahamas departing from Miami for $199? Check out the prices of the last-minute blowout specials below and act fast so you won,t miss this opportunity to enjoy a little rest and relaxation over the holidays. From $199 - 3 Night Key West on the Regal Express (Tampa) From $199 - 3 Day Bahamas on the Ecstasy (Miami) From $289 - 4 Night Mexican Baja on the Viking Serenade (Los Angeles) From $329 - 4 Day Bahamas/Caribbean on the Fantasy (Miami or Galveston) From $329 - 4 Day Bahamas/Caribbean on the Ecstasy (Miami or Galveston) From $329 - 4 Day Bahamas/Caribbean on the Jubilee (Miami or Galveston) From $549 - 7 Day Southern Caribbean on the Fascination (San Juan) From $549 - 7 Day Eastern/Western Caribbean on the Paradise (Miami) From $549 - 7 Day Western Caribbean on the Sensation (Tampa) After the turkey is served and all your holiday presents are bought, take a little time to pamper yourself on a cruise. But, you must act fast because this last-minute inventory will sell out very quickly. For full details read our feature story at http://www.bestfares.com/view.asp?id=10107485 or call the folks at Cruise.com at 800-821-5035 AVOID AIRPORT DELAYS & MISSED FLIGHTS THIS HOLIDAY SEASON Are you heading toward an airport during the upcoming holidays? Unfortunately, during this holiday season a record number of travelers will take to the friendly skies which translates into huge crowds and limited parking at the airport parking lots. Don,t waste valuable time searching for an empty space in an over crowded parking lot. Just stop, valet park, catch a shuttle and fly with our partner SunPark. SunPark is offering spectacular holiday savings through the end of this year as low as $6 per day. They are also offering 20% off at all locations year-round when you buy a convenient book of 10 pre-paid parking vouchers ) which also makes a great gift for the frequent flyer! If you live in one of the cities below you should check out the economy and convenience of SunPark: Buffalo Columbus Houston Los Angeles Memphis Oklahoma City Philadelphia St. Louis Washington, DC Don,t be caught in the crowds this holiday season. Park your car at a SunPark parking lot and enjoy savings and services not found at other airport parking lots. For more information visit our feature story at http://www.bestfares.com/view.asp?id=10107493 or visit the SunPark web site at http://www.sunpark.com/sp_offrs.html. THIS WEEKEND,S ONLINE TRAVEL DEALS AT A GLANCE If you want to travel this weekend, you don,t want to spend a lot of time checking out online bargains, site-by-site. Who has time to scroll through dozens of e-mails that may or may not contain the deal you need? Every Wednesday, we compile current Internet travel specials into an easy-to-use online summary. We cover domestic and international airfares, hotels and car rental discounts, giving you comprehensive coverage for one-stop shopping. With one glance, you can spot the savings that suit you best and book before the limited supplies are gone. For This Week's Major Airline Internet Discounts, http://www.bestfares.com/view.asp?id=10107194 For This Week's Car Rental Internet Discounts, http://www.bestfares.com/view.asp?id=10107193 For This Week's U.S. & Canada Hotel Internet Discounts, http://www.bestfares.com/view.asp?id=10107192 For This Week's International Hotel Internet Discounts, http://www.bestfares.com/view.asp?id=10107191 ****************************************************************** HOT DEALS BY EMAIL announcements feature special money-saving offers available on Bestfares.com. This free, weekly newsletter is your best bet to receive great, late-breaking travel deals. Please feel free to send this newsletter to your colleagues, friends and family and encourage them to sign up for a free subscription to HOT DEALS BY EMAIL. Thanks to all of you who have already recommended this newsletter to others. If this email has been forwarded to you, you can get your own free subscription at: http://www.bestfares.com/e-deals/e-deal.asp. About your privacy: Our email list is used only for distribution of our own materials. Our subscriber list will not be sold, rented, or otherwise made available to third parties ****************************************************************** SUBSCRIPTION INFORMATION To subscribe to the HOT DEALS BY EMAIL newsletter, please visit: http://www.bestfares.com/e-deals/e-deal.asp. To unsubscribe from HOT DEALS BY EMAIL, please visit: http://www.bestfares.com/e-deals/unsubscribe.asp To change your email address, please visit: http://www.bestfares.com/e-deals/unsubscribe.asp and unsubscribe from Hot Deals. 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Calm down, everyone. Jeff -----Original Message----- From: Johnston, Robert Sent: Wednesday, October 24, 2001 5:30 PM To: Shankman, Jeffrey A. Subject: RE: [Fwd: FW: CHARGES FOR E-MAIL -Forwarded] I'm guessing no. Government bills aren't numbered as indicated below. The current Senate bill 602 is the "Common Sense Federal Election Reform Act of 2001"; current House bill 602 is "Genetic Nondiscrimination in Health Insurance and Employment Act." No email stuff in either one, I would assume. The only email related bill is HR2281 "The Digital Divide Elimination Act of 2001." This relates to tax credits to help lower-income people buy computers. I can't find a record of any "Representative Tony Schnell." I would also note that the Washington magazine is a monthly, not a weekly as suggested below. Also, most "PLEASE FORWARD TO EVERYONE YOU KNOW!!!" emails are hoaxes. This was a fun test- got any more?! RJ -----Original Message----- From: Shankman, Jeffrey A. Sent: Wednesday, October 24, 2001 4:58 PM To: Johnston, Robert Subject: FW: [Fwd: FW: CHARGES FOR E-MAIL -Forwarded] is this true? -----Original Message----- From: Lawrence Goldberg <[email protected]>@ENRON Sent: Wednesday, October 24, 2001 4:53 PM To: Al_Rosckes; Allan Weiss; Arnie Yashar; Bert Sparrow; Brenda Falkenstein; Bryan Loy, M.D.; Carlos Katz; David Joels; Ellen Shaikun; Gregory Semerdjian; Shankman, Jeffrey A.; Jennifer Goldberg; Jerry Usulander; Matthew and Shira Goldberg; Stuart Goldberg; Susanna and Matt Liljenstolpe Subject: [Fwd: FW: CHARGES FOR E-MAIL -Forwarded] Return-Path: <[email protected]> Received: from smtp.chi-caritas.local ([216.77.69.35]) by imf02bis.bellsouth.net (InterMail vM.5.01.01.01 201-252-104) with ESMTP id <20011024214609.ISSP13544.imf02bis.bellsouth.net@smtp.chi-caritas.local> for <[email protected]>; Wed, 24 Oct 2001 17:46:09 -0400 Received: by selsvmsx01.chi-caritas.local with Internet Mail Service (5.5.2653.19) id <TP7WM2NW>; Wed, 24 Oct 2001 17:38:52 -0400 Message-ID: <13B7E55B253DD21182470008C7FA0A141B155B@selsvmsx01.chi-caritas.local> From: "Goldberg, Larry" <[email protected]> To: 'Lawrence Goldberg' <[email protected]> Subject: FW: CHARGES FOR E-MAIL -Forwarded Date: Wed, 24 Oct 2001 17:38:50 -0400 Return-Receipt-To: "Goldberg, Larry" <[email protected]> MIME-Version: 1.0 X-Mailer: Internet Mail Service (5.5.2653.19) Content-Type: multipart/mixed; boundary="----_=_NextPart_000_01C15CD4.452E2A00" X-Mozilla-Status2: 00800000 -----Original Message----- From: Smith Steve Sent: Wednesday, October 24, 2001 4:10 PM To: /SE LSV Everyone - All CARITAS E-Mail Users Subject: CHARGES FOR E-MAIL -Forwarded -----Original Message----- Date: 10/24/2001 12:14 pm (Wednesday) From: Debbie Curran <[email protected]> To: "'Bradley, Betty'" <[email protected]>, "'Brown, Charlie & Fran'" <[email protected]>, "'Brown, Marty'" <[email protected]>, "'Chathaparampil, Joe (work)'" <[email protected]>, "'Clark, Bill'" <[email protected]>, "'Cottrell, Franco & Elly'" <[email protected]>, "'Dalton, Dave & Kay'" <[email protected]>, "'Dant, Joe'" <[email protected]>, "'Dant, Wally & Barbara'" <[email protected]>, "'Dever, Robert & Bonnie'" <[email protected]>, "'Dew, Joe & Betty'" <[email protected]>, "'Edwards, Mike & Joyce'" <[email protected]>, "'Fargen, Jerry & Paula'" <[email protected]>, "'Filiatreau, Joe'" <[email protected]>, "'Flowers, Don'" <[email protected]>, "'Hall, Bob & Cheri'" <[email protected]>, "'Harris, Pat & Jean'" <[email protected]>, "'Imel, Bob & Barbara'" <[email protected]>, "'Jenkins, Jay & Rita'" <[email protected]>, "'Jones, Mike & Debbie'" < Subject: CHARGES FOR E-MAIL > VERY IMPORTANT ........ PLEASE PASS ALONG !!!! > > > > > > > > >Subject: Federal Bill 602p > > > > > >Guess the warnings were true. Federal Bill 602P 5-cents per E-mail > > >sent. It figures! No more free E-mail! We knew this was coming!! Bill > > >602P will permit the Federal Government to charge a 5-cent charge on > every > > >delivered E-mail. Please read the following carefully if you intend to > > >stay > > >online and continue using E-mail. The last few months have revealed an > > >alarming trend in the Government of the United States attempting to > quietly > > >push through legislation that will affect our use of the Internet. > > > > > >Under proposed legislation, the US Postal Service will be attempting > > >to bill E-mail users out of "alternative postage fees." > > > > > >Bill 602P will permit the Federal Government to charge a 5-cent > > >surcharge on every e-mail delivered, by billing Internet Service > Providers > > >at > > >source. > > > > > >The consumer would then be billed in turn by the ISP. > > > > > >Washington DC lawyer Richard Stepp is working without pay to > > >prevent this legislation from becoming law. The US Postal Service is > > >claiming > > >lost revenue, due to the proliferation of E-mail, is costing nearly > > >$230,000,000 in revenue per year. You may have noticed their recent ad > > >campaign: > > > > > >"There is nothing like a letter." > > > > > >Since the average person received about 10 pieces of E-mail per day > > >in 1998, the cost of the typical individual would be an additional 50 > cents > > >a > > >day or over $180 per year -- above and beyond their regular Internet > costs. > > > > > >Note that this would be money paid directly to the US Postal Service > > >for a service they do not even provide. > > > > > >The whole point of the Internet is democracy and noninterference. > > >You are already paying an exorbitant price for snail mail because of > > >bureaucratic inefficiency. It currently takes up to 6 days for a letter > > to > > >be delivered from coast to coast. If the US Postal Service is > > >allowed to tinker with E-mail, it will mark the end of the "free" > > >Internet in the United States. > > > > > >Congressional representative, Tony Schnell (R) has even suggested a > > >"$20-$40 per month surcharge on all Internet service" above and beyond > the > > >governments proposed E-mail charges. Note that most of the major > > >newspapers > > >have ignored the story the only exception being the Washingtonian which > > > >called the idea of E-mail surcharge "a useful concept who's time has > come" > > >(March 6th, 1999 Editorial). Do not sit by and watch your freedom > erode > > >away! > > > > > >Send this E-mail to EVERYONE on your list, and tell all your friends > > >and relatives to write their congressional representative and say > > >"NO" to Bill 602P. > > > > > >It will only take a few moments of your time and could very well be > > >instrumental in killing a bill we do not want. > > > > > >PLEASE FORWARD! > > > > > > _________________________________________________________________ - Header << File: Header >>
fyi ---------------------- Forwarded by Steven J Kean/NA/Enron on 07/19/2001 08:37 AM --------------------------- From: Michael Terraso/ENRON@enronXgate on 07/18/2001 07:17 PM To: Steven J Kean/NA/Enron@Enron cc: Subject: FW: 18/7 - 7:00 p.m. - Update: Emergency Steve, fyi Mike Terraso -----Original Message----- From: Hawkins, Don Sent: Wed 7/18/2001 5:29 PM To: Lowry, Phil; Terraso, Michael Cc: Subject: FW: 18/7 - 7:00 p.m. - Update: Emergency FYI, Don ;-----Original Message----- From: ; Steve Hopper/TRANSREDES@TRANSREDES@ENRON [ mailto:IMCEANOTES-Steve+20Hopper_TRANSREDES+40TRANSREDES+40ENRON@ENRON.com]; On Behalf Of Steve Hopper/TRANSREDES@ENRON Sent:;; Wednesday, July 18, 2001 4:24 PM To:;;;; Hopper, Steve Cc:;;;; [email protected]; [email protected]; Weidler, Peter E; Henshaw, Tony; Gonzalez, Fernando; Farmer, Doug; Berg, Jan van den; Naphan, John; Vega, John; Callau, Juan; Hawkins, Don; Khan, Nasim; Powell, Laine; [email protected]; [email protected] Subject:;;;;;;; Re: 18/7 - 7:00 p.m. - Update: Emergency We have completed the inspection of the GAA line to LaPaz, and everything looks OK.; We'll reinitiate gas flow tonight.; OSSA II should be completed tomorrow.; Army personnel continues to be patrolling the area, but things remain pretty calm, despite several areas in the country that are under roadblock by protesters. I'm going to keep things in emergency status until at least tomorrow, after today's roadblocks are lifted.; Will advise of any developments. Steve Steve Hopper 07/17/2001 07:02 PM To:;;;; [email protected], [email protected], Peter E Weidler/Enron@EnronXGate cc:;;;; Tony Henshaw/TRANSREDES@TRANSREDES, Fernando Gonzalez/TRANSREDES@TRANSREDES, Doug Farmer/TRANSREDES@TRANSREDES, Jan van den Berg/TRANSREDES@TRANSREDES, John Naphan/TRANSREDES@TRANSREDES, John Vega/TRANSREDES@TRANSREDES, Juan Callau/TRANSREDES@TRANSREDES, Don Hawkins/Enron@EnronXGate, Nasim H Khan/TRANSREDES@TRANSREDES, Laine A Powell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT Subject:;;;;;;; 17/7 - 7:00 p.m. - Update: Emergency The situation continues to be stable.; CLHB has reinitated LPG operations to LaPaz, but continue their inspection.; TR will not reinitiate gas or crude export operations until we have completed our inspection.; We have formed joint teams with CLHB and Army personnel to perform the inspection.; It could take as long as 48 hours, but we'll have a better estimate after we get a progress report in the morning.;; All crews available systemwide are mobilizing for inspection of the entire system, but for now our priority continues to be the lines in the altiplano.; The three stations in the altiplano have been shut down, bled off, and locked.; Other supervisors throughout the system have been advised and are on alert. Government and regulator continue to be supportive of our shut-down and inspection action plan.; We have developed a contingency plan with COBEE (the regional electricity distributor) under which they will redistribute energy out of spare capacity in Cochabamba to LaPaz; - this should cover LaPaz's electricity needs during the duration of time we need to complete our inspection.; The only other significant consumer is a large cement plant in LaPaz.; We've agreed that they will slow down their operations, and provide only small, local supplies (industrial concrete demand will be shut-in). We did not send a press release on the issue, although we have received inquiries - our response is that we are concerned about the risk to Bolivians this action presented, and we are performing an inspection on the system.; We are avoiding mention of gas stoppage to LaPaz at this time, due to the volatility of the issue in LaPaz.; Government (VMEH, SIRESE) has agreed with the message. We expect that with the cement plant and power plant off-line, line pack should be sufficient to keep commercial demand satisfied for a few days.; In either event, we are working with the local gas distributor to prepare a notice for LaPaz newspapers instructing gas consumers in the area how to safely shut-down and restart their equipment in the event that it becomes necessary. The most likely scenario as of now is that Edwin Morales - a local revolutionary tied to the coca trade - is behind the action.; Morales has had contact in the past with the Raul Rocha bunch out of Chuquina (Oruro), so we're still not sure whether this was an act against TR and/or the industry, or if it is against government.; Morales has just joined forces with another rebel out of Cochabamba and is planning nationwide road blocks for tomorrow.; Their agenda is national - they've never isolated TR or our industry as a whole, although Chaco in the north have been targeted in the past, probably because they have a field in the middle of Morales' stronghold.; The political situation here is tenuous with Banzer out and various political interests looking to fill the leadership void.; We're watching this situation closely.; The local Army brigade has committed to staying on vigilance for at least the next few days - once we're comfortable with the operational situation, we'll discuss a longer-term solution. Steve ---------------------- Forwarded by Steve Hopper/TRANSREDES on 07/17/2001 06:37 PM --------------------------- Steve Hopper 07/17/2001 03:53 PM To:;;;; [email protected], [email protected], Peter E Weidler/Enron@EnronXGate cc:;;;;; Subject:;;;;;;; Emergency ;;;;;;; ;;;;;;; At 1:45 p.m. today, a CLHB line walker discovered a bomb on their LPG line in the Altiplano 14 km from out SicaSica station.; Our OSSA II (crude exports to Chile) and GAA (gas to LaPaz) share the same ROW, and would likely have been taken out with the bomb.; We understand that the bomb, which had a manual fuse, did not go off, but had been lit and failed to explode.; The Army has been mobilized to diffuse the bomb, and we consider the immediate threat neutralized. However, given that we have now seen several attempts in the last 10 days of sabotage against our lines, I have declared a state of EMERGENCY, and will notify the Enron Crisis team. We have shut all Altiplano pipeline operations down, and have mobilized a joint CLHB/TR/Army team to perform vigilance on the entire altiplano network.; The immediate result of this is that lights will likely start to go out in LaPaz within the next few hours - the GAA line is their primary power fuel supply.; I've notified all relevant government authorities of the situation, and so far am getting support.; I've also asked the Embassy to look into the situation, with the understanding that if this is the result of an organized movement, they might have access to intelligence that could be helpful. Additionally, we've shut down all non-critical maintenance operations throughtout the rest of the system, and are directing spare personnel to perform vigilance on the remainder of the system as quickly as possible.; Until and unless we have information that this threat goes beyond the altiplano, we will continue operations, with all stations on alert.; We will kick off the the total system inspection within the next few hours, as soon as our people complete the overall plan. I will keep you posted as things develop. Steve
http://www.consultrci.com ******************************************************************* Learn more about SCIENTECH's Mergers, Acquisitions, and Convergence in the US Electric Industry InfoGrid at: http://www.consultrci.com ******************************************************************* =============================================================== SCIENTECH IssueAlert, November 10, 2000 Public Service Company of New Mexico to Acquire the Electric Utility Operations of Western Resources By: Jon T. Brock, Director, Strategic and Competitive Intelligence =============================================================== Public Service Company of New Mexico (PNM) announced yesterday that it intends to acquire the electric utility operations of Topeka, Kansas based Western Resources (WR) in a tax-free stock-for-stock transaction. The deal will require that WR separate its non-utility assets from its regulated utility business and spin it off to WR shareholders. ANALYSIS: In this day and age of a consolidating electric industry, strategic combinations are becoming more commonplace. This announcement took me by surprise even though the signs were clearly marked for this type of merger. WR has had a tough time financially in recent years and has been seeking a utility operations buyer for some time now. WR busted up a planned merger between Kansas City based KCPL and UtiliCorp United by attempting to acquire KCPL in 1996. At the time WR share price was above $30. In 1997 WR share price soared to record highs of more than $40. WR attempted to acquire security company ADT but their bid failed. They sold their interest in ADT for a $800 million profit. This profit "masked" a rate review by the Kansas Corporation Commission that at the time was cutting WR rates by $75 million, reducing earnings by 75 cents per share. WR, who obviously had a strategic focus on security, used the profits from the ADT sale to purchase 85 percent of Protection One, one of the fastest growing companies in the monitored security business. Protection One hit some hard times soon after the purchase by WR and as a result, their stock tumbled. WR investors became nervous when state and federal regulators began discussing terms of the KCPL merger that might not necessarily be favorable to them. As a result, some moved their money out of WR and by 1999, WR share price had tumbled to $16 to $17. In January of this year, KCPL determined that the share price of WR and the financial considerations of the merger were not advantageous to KCPL shareholders and called off the merger. WR immediately split itself into two organizations (regulated utility operations and non-regulated business) with the intent of finding a buyer for the regulated utility operations. WR claimed in June of this year that 50 companies were being courted, including international companies, for the utility operations assets of Kansas Power & Light (KPL) and Kansas Gas and Electric (KGE). Putting PNM on that list had not occurred to me. But it does fit. SCIENTECH interviewed Jeff Sterba, CEO of PNM, just weeks ago and asked if the development of alliances, mergers, and acquisitions were a part of the positive approach to PNM's strategy. Jeff answered, "Very definitely. Alliances focused on the things that are core to your business, and that can bring a sustainable, competitive advantage are essential for us in this industry. The criticality of market channels can't be over-emphasized. Once you have a good market channel, that doesn't mean that everything you put through that market channel you have to do yourself, or you have to own. You can expand that reach to customers by forming alliances. There are times when acquisitions can also be an important investment if it involves something that is core to your business. So, both alliances and acquisitions will be a part of PNM's future." Just weeks later PNM is buying WR. Utilizing my rear view mirror now I see the existing similarities between the assets of WR and PNM. They both operate regulated utilities with a generation fuel mix (including nuclear). They both have multi-commodity in electric and gas. They both have wholesale operations. PNM actually has had a great year financially due in part to a strong wholesale operation. PNM net earnings for the nine months ended Sept. 30, 2000 totaled $86.9 million, or $2.17 per share (diluted) on total operating revenues of $1.15 billion, compared to earnings of $66.2 million, or $1.60 per share in the first three quarters of 1999. PNM has adopted a "niche" strategy in the wholesale power market by developing tailored wholesale power products for its customers. While some of the mega-traders in the wholesale market thrive on volume and a standard commodity, PNM differentiates itself by creating a tailored power product according to the needs of the buyer. PNM has found success in this niche segment of a large wholesale market. The merger deal is expected to take between 12 and 15 months to complete. PNM will inherit approximately $2.9 billion in debt making the total value of the deal worth $4.4 billion. Fitch has placed its securities ratings of PNM on Rating Watch Negative and WR on Rating Watch Evolving. Fitch plans to meet with PNM management soon in order to assess the full impact of the merger. Apparently some regulatory concern exists in Kansas where deregulation has not occurred and where some rate inconsistencies exist between Wichita and Topeka. This may result in a rate case. It should also be noted that Wichita, Kansas currently has an ongoing effort to takeover (municipalize) the electric system from Western Resources within its city limits because of the rate disparity between Wichita and Topeka. Wichita has about 170,000 power customers -- roughly a fourth of all the customers served by Western Resources. They represent more than $370 million of KGE's $580 million in revenues. PNM will increase its debt but is committed to reducing that debt and has demonstrated its ability to do so. PNM has decreased its debt-to-capital ratio from 72 percent to less than 55 percent in the last seven years. The headquarters will be based in Albuquerque, NM and the chairman, president, and chief executive officer will be Jeff Sterba. =============================================================== Search SCIENTECH's PowerHitter archive to read about our interview with Jeff Sterba, Chairman, President, and CEO of The Public Service Company of New Mexico at: http://www.consultrci.com/web/infostore.nsf/Products/PowerHitter ============================================================== SCIENTECH is pleased to provide you with your free, daily IssueAlert. Let us know if we can help you with in-depth analyses or any other SCIENTECH information products. If you would like to refer a colleague to receive our free, daily IssueAlerts, please reply to this email and include their full name and email address or register directly at: http://www.consultrci.com/web/infostore.nsf/Products/IssueAlert Sincerely, Jon T. Brock Director, Strategic and Competitive Intelligence [email protected] =============================================================== Feedback regarding SCIENTECH's IssueAlert should be sent to [email protected] =============================================================== SCIENTECH's IssueAlerts are compiled based on independent analysis by SCIENTECH consultants. The opinions expressed in SCIENTECH's IssueAlerts are not intended to predict financial performance of companies discussed or to be the basis for investment decisions of any kind. SCIENTECH's sole purpose in publishing its IssueAlerts is to offer an independent perspective regarding the key events occurring in the energy industry, based on its long-standing reputation as an expert on energy and telecommunications issues. Copyright 2000. SCIENTECH, Inc. If you do not wish to receive any further IssueAlerts from SCIENTECH, please reply to this message and in the body of the email type "remove."
<HTML> <!--Sorry, it looks like you are having problems viewing this HTML email. <a href="http://www.cc.com/ECRM_preShowInBrowser?campaignId=682&mbrId=2181525">To view this email correctly, please click here</a> Or paste this http://www.cc.com/ECRM_preShowInBrowser?campaignId=682&mbrId=2181525 into your web browser. //--> <HEAD> <TITLE>Clear Channel Entertainment</TITLE> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso-8859-1"> <!--template font styles (not css) section header - SIZE="+1" COLOR="#333366" FACE="verdana, helvetica, arial, sans-serif" artist/event title - SIZE="1" color="black" FACE="verdana, helvetica, arial, sans-serif" bold body text - SIZE="1" COLOR="black" FACE="verdana, helvetica, arial, sans-serif" presenting sponsor - size="-2" COLOR="black" FACE="verdana, helvetica, arial, sans-serif" italic --> </HEAD> <BODY TEXT="#000000" LINK="#FF0000" ALINK="#FF0000" VLINK="#FF0000"> <FONT SIZE="-2" FACE="verdana, helvetica, arial, sans-serif"> If you cannot view this email correctly, please <a href="http://www.cc.com/ECRM_preShowInBrowser?campaignId=682&mbrId=2181525">click here</a>.</FONT> <TABLE WIDTH="599" BORDER="0" CELLPADDING="0" CELLSPACING="0" VALIGN="top" BGCOLOR="#FFFFFF"> <TR> <TD><IMG SRC="http://209.208.252.77/newsletter/images/leftPiece.gif" WIDTH="8" HEIGHT="58" BORDER="0"></TD> <TD><!--this link is localized - need zipcode--><A HREF="http://cc.com/index.asp?zipcode=" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/header.gif" ALT="CC.com - Your Source For LIVE Entertainment" WIDTH="582" HEIGHT="58" BORDER="0"></A></TD> <TD><IMG SRC="http://209.208.252.77/newsletter/images/rightPiece.gif" WIDTH="9" HEIGHT="58" BORDER="0"></TD> </TR> <TR BGCOLOR="#FF9933"> <TD COLSPAN="3" VALIGN="middle" ALIGN="center"><TABLE HEIGHT="20" BORDER="0" CELLPADDING="0" CELLSPACING="0"> <TR> <TD><!--this link is localized - need zipcode--> <A HREF="http://cc.com/event.asp?zipcode=" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/local_events.gif" WIDTH="69" HEIGHT="10" ALT="Local Events" BORDER="0"></A></TD> <TD> <IMG SRC="http://209.208.252.77/newsletter/images/dot.gif" WIDTH="11" HEIGHT="10" BORDER="0"></TD> <TD><!--this link is localized - need zipcode--> <A HREF="http://cc.com/artistsontour.asp?zipcode=" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/event_search.gif" WIDTH="74" HEIGHT="10" ALT="Event Search" BORDER="0"></A></TD> <TD> <IMG SRC="http://209.208.252.77/newsletter/images/dot.gif" WIDTH="11" HEIGHT="10" BORDER="0"></TD> <TD><!--this link is localized - need zipcode--> <A HREF="http://cc.com/local_venues.asp?zipcode=" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/local_venues.gif" WIDTH="77" HEIGHT="10" ALT="Local Venues" BORDER="0"></A></TD> <TD> <IMG SRC="http://209.208.252.77/newsletter/images/dot.gif" WIDTH="11" HEIGHT="10" BORDER="0"></TD> <TD> <A HREF="http://cc.com/features.asp" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/inside_scoop.gif" WIDTH="72" HEIGHT="10" ALT="Inside Scoop" BORDER="0"></A></TD> <TD> <IMG SRC="http://209.208.252.77/newsletter/images/dot.gif" WIDTH="11" HEIGHT="10" BORDER="0"></TD> <TD> <A HREF="http://promo.cc.com/webcasts" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/webcasts.gif" WIDTH="56" HEIGHT="10" ALT="Webcast" BORDER="0"></A></TD> <TD> <IMG SRC="http://209.208.252.77/newsletter/images/dot.gif" WIDTH="10" HEIGHT="10" BORD="0"></TD> <TD> <A HREF="http://sfxmotorsports.com" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/motor_sports.gif" WIDTH="75" HEIGHT="10" ALT="Motorsports" BORDER="0"></A></TD> <TD> <IMG SRC="http://209.208.252.77/newsletter/images/dot.gif" WIDTH="11" HEIGHT="10" BORDER="0"></TD> <TD> <A HREF="http://broadwayseries.com" TARGET="_new"><IMG SRC="http://209.208.252.77/newsletter/images/broadway_series.gif" WIDTH="94" HEIGHT="10" ALT="Broadway Series" BORDER="0"></A></TD> </TR> </TABLE></TD> </TR> <TR> <TD COLSPAN="3"><IMG SRC="http://209.208.252.77/newsletter/images/spacer.gif" WIDTH="1" HEIGHT="10"></TD> </TR> <TR> <TD>&nbsp</TD> <TD> <!--start content--> <TABLE WIDTH="100%" BORDER="0" CELLPADDING="0" CELLSPACING="0" VALIGN="top" ALIGN="left"> <TR> <TD ALIGN="left" VALIGN="top"><HTML> <HEAD> <TITLE>Clear Channel Entertainment \| Southwest Region Concert Update</TITLE> <META HTTP-EQUIV="Content-Type" CONTENT="text/html; charset=iso-8859-1"> </HEAD> <BODY BGCOLOR="#FFFFFF" text="black" link="red" alink="#666666" vlink="#FF6600"> <TABLE WIDTH="580" BORDER="0" CELLPADDING="0" CELLSPACING="0" valign="top"> <TR> <TD><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif" color="red"><B>Clear Channel Entertainment \| <a href="http://cc.com/event.asp?zipcode=77002">Southwest</a> Concert Update</B></FONT></TD> </TR> <TR> <TD><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="10"></TD> </TR> <TR> <TD><!--start first column of contents--> <TABLE WIDTH="350" BORDER="0" CELLPADDING="0" CELLSPACING="0" valign="top" align="left"> <TR> <TD colspan="2"><FONT SIZE="3" FACE="verdana, helvetica, arial, sans-serif" color="#333366"><B>Just Added!</B></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><!--<A HREF="http://cc.com/detail.asp?eventID=31585" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/p.o.d.-sm.jpg" ALT="P.O.D." WIDTH="100" HEIGHT="75" border="0"></A>--></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Atmosphere featuring Mr. Dibbs</B><BR> Engine Room<br>Houston, TX<br>Sunday, November 11 at 9 PM<br> <A href="http://cc.com/detail.asp?eventID=31585" TARGET="_self">On Sale Thursday, October 25 at 10 AM</A></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110"><!--<A HREF="http://cc.com/detail.asp?eventID=31551" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/peteyorn-sm.jpg" ALT="Pete Yorn" WIDTH="100" HEIGHT="75" border="0"></A>--></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Genitorturers</B><BR> Engine Room<br>Houston, TX<br>Thursday, November 15 at 9 PM<br> <A href="http://cc.com/detail.asp?eventID=31551" TARGET="_self">On Sale Thursday, October 25 at 10 AM</A><br><br></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=31348" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/delasoul-sm.jpg" ALT="De La Soul" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>De La Soul</B><BR> Numbers<br>Houston, TX<br>Friday, November 16 at 9 PM<br> <A href="http://cc.com/detail.asp?eventID=31348" TARGET="_self">On Sale Thursday, October 25 at 10 AM</A></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=31583" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/lisaloeb-sm.jpg" ALT="Lisa Loeb" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Lisa Loeb</B><BR> Engine Room<br>Houston, TX<br>Sunday, November 18 at 9 PM<br> <A href="http://cc.com/detail.asp?eventID=31583" TARGET="_self">On Sale Thursday, October 25 at 10 AM</A></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=31549" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/weezer-sm.jpg" ALT="Weezer" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Weezer</B><BR> Freeman Coliseum<br>San Antonio, TX<br>Monday, November 26 at 7:30PM<br> <A href="http://cc.com/detail.asp?eventID=31549" TARGET="_self">On Sale Saturday, October 27 at 10 AM</A></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=31346" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/nataliemerchant-sm.jpg" ALT="Natalie Merchant" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Natalie Merchant</B><BR> Austin Music Hall<br>Austin, TX<br>Wednesday, December 5 at 8 PM<br> <A href="http://cc.com/detail.asp?eventID=31346" TARGET="_self">On Sale Friday, October 26 at 10 AM</A><br><br> Aerial Theater at Bayou Place<br>Houston, TX<br>Thursday, December 6 at 8 PM<br> <A href="http://cc.com/detail.asp?eventID=31361" TARGET="_self">On Sale Saturday, October 27 at 10 AM</A><br><br></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <!--THIS WEEKS SHOWS--> <TR> <TD colspan="2"><FONT SIZE="3" FACE="verdana, helvetica, arial, sans-serif" color="#333366"><B>This Week's Shows!</B></FONT></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=27784" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/kennychesney-sm.jpg" ALT="Kenny Chesney" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Kenny Chesney</B><BR> Reed Arena<br>College Station, TX<br>Thursday, October 25<br> <A href="http://cc.com/detail.asp?eventID=27784" TARGET="_self">On sale now!</A><br><br> The Backyard<br>Austin, TX<br>Saturday, October 27 at 7 PM<br> <A href="http://cc.com/detail.asp?eventID=27698" TARGET="_self">On sale now!</A><br><br></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=27435" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/311-sm.jpg" ALT="311" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>311</B><BR> Aerial Theater at Bayou Place<br>Houston, TX<br>Thursday, October 25 at 7:30PM<br> <A href="http://cc.com/detail.asp?eventID=27435" TARGET="_self">On sale now!</A></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=28775" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/tool-sm.jpg" ALT="Tool" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Tool</B><BR> Verizon Wireless Amphitheater - San Antonio<br>Selma, TX<br>Thursday, October 25 at 7:30PM<br> <A href="http://cc.com/detail.asp?eventID=28775" TARGET="_self">On sale now!</A></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=29997" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/buttholesurfers-sm.jpg" ALT="Butthole Surfers" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif">Bud Light Concert Series<br><B>Butthole Surfers</B><BR> Sunshine Theatre<br>Albuquerque, NM<br>Friday, October 26 at 8 PM<br> <A href="http://cc.com/detail.asp?eventID=29997" TARGET="_self">On sale now!</A></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=29774" TARGET="_self"><!--<IMG SRC="http://promo.cc.com/mail/images/buttholesurfers-sm.jpg" ALT="Butthole Surfers" WIDTH="100" HEIGHT="75" border="0"></A>--></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"><B>Blue October</B><BR> Engine Room<br>Houston, TX<br>Friday, October 26 at 9 PM<br> <A href="http://cc.com/detail.asp?eventID=29774" TARGET="_self">On sale now!</A></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2" bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD align="left" WIDTH="110" valign="top"><A HREF="http://cc.com/detail.asp?eventID=26389" TARGET="_self"><IMG SRC="http://promo.cc.com/mail/images/jaguares-sm.jpg" ALT="Jaguares" WIDTH="100" HEIGHT="75" border="0"></A></TD> <TD align="left" WIDTH="340"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif">Cardenas Fernandez & Associates Presents<br><B>Jaguares</B><BR> International Ballroom - Houston<br>Houston, TX<br>Saturday, October 27 at 8 PM<br> <A href="http://cc.com/detail.asp?eventID=26389" TARGET="_self">On sale now!</A></FONT></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD colspan="2"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="20"></TD> </TR> </TABLE> <!--end first column of contents--> <!--start second column of contents--> <TABLE WIDTH="215" BORDER="0" CELLPADDING="0" CELLSPACING="0" valign="top" align="right"> <TR> <TD><FONT SIZE="3" FACE="verdana, helvetica, arial, sans-serif" color="#333366"><B>Upcoming Shows!</B></FONT></TD> </TR> <TR> <TD bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD><FONT SIZE="-2" color="black" FACE="verdana, helvetica, arial, sans-serif">click on the artist or date to get tickets or for more info</FONT><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD bgcolor="#666666"><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="1"></TD> </TR> <TR> <TD><IMG src="http://promo.cc.com/mail/images/spacer.gif" WIDTH="1" HEIGHT="5"></TD> </TR> <TR> <TD align="left"><FONT SIZE="1" FACE="verdana, helvetica, arial, sans-serif"> <B><A HREF="http://cc.com/detail.asp?eventID=29017" TARGET="_self">Tool</A></B><br>with Tricky<br> Woodlands Pavilion - Woodlands, TX<br><A HREF="http://cc.com/detail.asp?eventID=29017" TARGET="_self">Sunday, October 28 at 8 PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=26754" TARGET="_self">Mike Watt</A></B><br>Engine Room - Houston, TX<br> <A HREF="http://cc.com/detail.asp?eventID=26754" TARGET="_self">Sunday, October 28 at 9 PM</A><BR><BR> Bud Light Concert Series<br><B><A HREF="http://cc.com/detail.asp?eventID=29764" TARGET="_self">Gregg Allman & Friends</A></B><br> Sunshine Theatre - Albuquerque, NM<br> <A HREF="http://cc.com/detail.asp?eventID=29764" TARGET="_self">Tuesday, October 30 at 7:30PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=27955" TARGET="_self">Tori Amos</A></B><br> with Rufus Wainwright<br> Aerial Theater at Bayou Place - Houston, TX<br> <A HREF="http://cc.com/detail.asp?eventID=27955" TARGET="_self">Wednesday, October 31 at 8 PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=31154" TARGET="_self">Terrorfest 2001</A></B><br> Engine Room - Houston, TX<br> <A HREF="http://cc.com/detail.asp?eventID=31154" TARGET="_self">Wednesday, October 31 at 9 PM</A><BR><BR> 94 rock Presents<br>Bud Light Concert Series<br><B><A HREF="http://cc.com/detail.asp?eventID=30601" TARGET="_self">A Night of Merry Mayhem with Ozzy Osbourne and Rob Zombie</A></B><br> Tingley Coliseum - Albuquerque, NM<br> <A HREF="http://cc.com/detail.asp?eventID=30601" TARGET="_self">Thursday, November 1 at 6:30PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=29585" TARGET="_self">Live</A></B><br>Bronco Bowl - Dallas, TX<br> <A HREF="http://cc.com/detail.asp?eventID=29585" TARGET="_self">Thursday, November 1 at 7:30PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=30175" TARGET="_self">Jo Dee Messina</A></B><br> Kansas Expocentre - Topeka, KS<br> <A HREF="http://cc.com/detail.asp?eventID=30175" TARGET="_self">Thursday, November 1 at 7:30PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=28943" TARGET="_self">D-12</A></B><br> Numbers - Houston, TX<br><A HREF="http://cc.com/detail.asp?eventID=28943" TARGET="_self">Thursday, November 1 at 9 PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=30333" TARGET="_self">The Damned</A></B><br> Engine Room - Houston, TX<br><A HREF="http://cc.com/detail.asp?eventID=30333" TARGET="_self">Thursday, November 1 at 9 PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=28172" TARGET="_self">Tori Amos</A></B><br> Bass Concert Hall - Austin, TX<br><A HREF="http://cc.com/detail.asp?eventID=28172" TARGET="_self">Friday, November 2 at 8 PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=31153" TARGET="_self">Supersuckers</A></B><br> Engine Room - Houston, TX<br><A HREF="http://cc.com/detail.asp?eventID=31153" TARGET="_self">Friday, November 2 at 9 PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=29320" TARGET="_self">KZEPs Great Harley Giveaway</A></B><br> Verizon Wireless Amphitheater - San Antonio - Selma, TX<br><A HREF="http://cc.com/detail.asp?eventID=29320" TARGET="_self">Saturday, November 3 at 6:30PM</A><BR><BR> <B><A HREF="http://cc.com/detail.asp?eventID=30770" TARGET="_self">A Night of Merry Mayhem with Ozzy Osbourne and Rob Zombie</A></B><br> UTEP - El Paso, TX<br><A HREF="http://cc.com/detail.asp?eventID=30770" TARGET="_self">Saturday, November 3 at 7:30PM</A><BR> and<br>New Orleans Arena - New Orleans, LA<br><A HREF="http://cc.com/detail.asp?eventID=30765" TARGET="_self">Wednesday, November 7 at 6:30PM</A><BR><BR></FONT></TD> </TR> </TABLE> <!--end second column of contents--> <!--end 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Dear all, I followed up on the suggestions at the conference call as follows:- 1) USE LESS DATA Unfortunately, kicking out only 1990 makes the overall equation a lot less robust, in fact dramatically so, and so eliminates the possibility of using less data. The model tested was the RPI(month+15) & Deviations from long-term average for Brent Crude. The r-squared and F-statistic collapsed by eliminating the first 12 months of data. 2) DEVIATIONS IN CRUDE VARIABLE Shifting the crude explanatory variable backwards and forward by 3 and 6 months did not alter the model goodness-of-fit parameters dramatically and so my suggestion is that we stick with the following model: PLLU[t] = a.RPI[t] + b.RPI[t+15] + c.BrentCrudeDeviations[t] + Constant 3) TESTING MODEL WITH SINE WAVE To gauge the response of the model to wildly-varying RPI forward curve, a sine wave of period 3 years for RPI was input into the PPI model. The result was as expected; PPI pre-empts the moves in RPI by about 8 months. The magnitude of the oscillations is also reduced. This shows that if we had more detail in our RPI forward curve, then the PPI model would reflect those peaks and humps adequately. CONCLUSION I therefore propose that we use the model that incorporates RPI, RPI[t+15] and deviations of Brent Crude from long-term average. The new model is plotted below in burgundy and can be compared to the old PPI which is depicted in blue. The new model achieves the two main objectives of the PPI curve: it is significantly more robust and stable than the existing one, and it is considerably less sensitive to the input coefficients, which results in us having more confidence in our monthly P&L. Please note that all this analysis only applies to PLLU, and that a separate study will be needed for the DZCV PPI index. Regards, Anjam x35383 ---------------------- Forwarded by Anjam Ahmad/LON/ECT on 09/03/2000 16:52 --------------------------- Anjam Ahmad 08/03/2000 14:03 To: Martina Angelova/LON/ECT@ECT, Harry Arora/HOU/ECT@ECT, Maureen Raymond/HOU/ECT@ECT, Zimin Lu/HOU/ECT@ECT, Farouk Lalji/HOU/ECT@ECT cc: Trena McFarland/LON/ECT@ECT, Dale Surbey/LON/ECT@ECT, Stinson Gibner/HOU/ECT@ECT, Vince J Kaminski/HOU/ECT@ECT, Leandro Ibasco/Corp/Enron@Enron Subject: Update on PPI Model for Inflation Book Dear all, We thought it might be useful to incorporate Brent crude as an explanatory variable for PPI; it was found that deviations of Dated Brent Crude from the long-term average of $18.80 was the best form of the variable to use (for predictions the Brent forward curve produced by the Global Products Group is used). The three new equations developed were:- PLLU(t) = a.RPI(t) + b.RPI(t+N) + c.(DatedBrentCrude - 18.8) + constant, where N is 14,15 or 16 [REDDISH CURVES] r-squared approx 0.49 F-stat approx 32 The chart below shows what our projected PLLU curve would be given this equation, and also the three best relations from before which were based upon current and future RPI: PLLU(t) = a.RPI(t) + b.RPI(t+N) + constant, where N is 14,15 or 16 [GREENISH CURVES] r-squared approx 0.47 F-stat approx 45 COMPARISON OF MODELS As you can see, the two equations differ in the very short-term and very long-term; the inclusion of deviations of Brent Crude leads to short-term predictions of 3.0% to 3.2% over the next six months. The greenish curves predict PLLU in the range of 2.5% to 2.8% over the next six months. The curves are then very similar until 2009, when the models including crude break-away to the upside, relative to the falling RPI curve. The model based purely on RPI hugs the RPI curve much more closely in the longer term. This is only important to the extent that we have large positions beyond 2009 (which we don't). SUGGESTION What could be useful now is a differently-specified model designed to forecast only the next 3 months, using auto-regressive or auto-regressive error terms. This model would be far more accurate in the near-term, and we could include this information onto the front of this long-term model. This may be useful, despite the fact that most of our exposure is in future time buckets. BACK-TESTING All the models give similar visual and statistical performance over the data sample used (based mainly on 1990s "new paradigm" economy). Hopefully we can discuss these and other points later in the tele-conference; your ideas on this would be appreciated. Regards, Anjam x35383
Content-Transfer-Encoding: quoted-printable Date: Fri, 27 Apr 2001 10:12:51 -0500 From: "Tracey Bradley" <[email protected]> To: "Aryeh Fishman" <[email protected]>, "Andrea Settanni" <[email protected]>, "Deanna King" <[email protected]>, "Dan Watkiss" <[email protected]>, "Justin Long" <[email protected]>, "Kimberly Curry" <[email protected]>, "Paul Fox" <[email protected]>, "Ronald Carroll" <[email protected]> Subject: Washington Post - FERC Taken to Task Over Calif. Energy Crisis Mime-Version: 1.0 Content-Type: text/plain; charset=ISO-8859-1 Content-Disposition: inline FYI FERC Taken to Task Over Calif. Energy Crisis By Peter Behr Washington Post Staff Writer Friday, April 27, 2001; Page E01 Even before President Bush took office, he and his staff were trying keep California's energy crisis a long arm's length away, saying it was primarily California's problem to solve. But the Bush White House inherited an unavoidable link to California: the Federal Energy Regulatory Commission, a relatively small Washington agency with a large mandate to see that wholesale electricity rates remain "just and reasonable." California's calamity is defined in part by a battle between FERC and state officials over what "just and reasonable" means. On Wednesday, FERC made a new effort to hold down California's electricity prices without forsaking its commitment to energy deregulation, earning another round of sharp criticism from California officials. "FERC had a chance to bring meaningful relief to California's outrageous wholesale prices and they blew it," California Gov. Gray Davis (D) said yesterday. The spotlight is bright and unsought for an agency with a modest $175 million budget, born in 1920 as the Federal Power Commission -- a weak, understaffed agency that promoted and supervised hydropower dams. Fifteen year later, during President Franklin D. Roosevelt's New Deal battle against powerful utility holding companies, the commission was armed with the authority to regulate rates for wholesale electricity bought by utilities, and for power transmission. States regulate retail rates. Today FERC makes rules for the nation's transition away from regulated utility electric service to a market-based hybrid. In California and many major states, powerful generating companies compete to sell electricity to utilities, which act as distributors. The responsibilities have taxed FERC's staff of 1,200, which is about 10 percent less than peak levels during the mid-1990s. A backlog of 2,000 pending cases includes not just conflicts over power prices, but also critical issues of reorganizing the nation's power transmission network into large regional pools strong enough to make urgently needed investments in new lines. When Congress set electricity deregulation in motion in 1992, FERC's goal became seeing that it succeeded. Gradually, it redefined the "just and reasonable" standard, saying that as long as electricity markets were competitive, the prices negotiated by generators and distributors met the standard. In hewing to that doctrine, the agency turned down an increasingly angry flood of demands from Davis and a host of California officials to clamp down on the state's wholesale electricity prices when they suddenly shot upward last summer. Although FERC concluded in November that California's power market was badly flawed and that the potential for unfair and unjust pricing existed, it did not impose hard price restraints, opting for a "soft" partial price ceiling. FERC ordered California to try to fix its broken power purchasing system by buying the bulk of its electricity through long-term supply contracts with generators, rather than through last-minute purchases that forced the state to pay generators' and marketers' top prices. But FERC's plan was not implemented. "They have the ability to resolve it and they are not following through with what we asked them to," FERC Chairman Curt Hebert Jr. said three months ago, just after being named chairman by Bush. But under growing political pressure to restrain California's extraordinary wholesale electricity charges and respond to complaints of overcharging, FERC has moved deeper into the morass. Since March, it has ordered power suppliers to refund $124.5 million or prove that their charges were justified. The generators say their prices have been based on high costs of natural gas and air pollution permits. "We're very confident that FERC . . . will see that these issues and transactions were just and reasonable," said Randy Harrison, chief executive for western operations of Mirant, a major California generator. On Wednesday, the commission went further, directing California to establish maximum rates that generators could charge during power shortage emergencies through a formula linked to plant operating costs. All generators would be entitled to get the highest approved price, but suppliers that exceeded the price benchmark would have to justify their prices or face refund orders. The decision, on a 2 to 1 vote, reflects a compromise between the agency's desire to defend the troubled experiment with deregulation while protecting consumers against overcharging, said energy consultant Peter Fox-Penner of the Brattle Group. "They're searching for middle ground here. It's not what we think of as price caps," he said. "It's flexible. It's related to costs, and that's very innovative." But FERC's many critics in California rebuked the agency again yesterday, saying its actions were too little and too late. Because the new FERC rules would apply only during power emergencies, there would be no price restraint at other times, some said. And by pegging approved rates to the costs of plants burning costly natural gas, FERC's order would confront California with continuing costs of $300 per megawatt-hour for large quantities of electricity this summer, eight to 10 times what the state was paying before the crisis, critics said. "What they did do is virtually irrelevant," said Harvey Rosenfield of the Foundation for Taxpayer & Consumer Rights. "It's like offering someone who's been hit by a car an aspirin." "FERC has failed its responsibilities at every point in the crisis," said Adam Goldberg, a policy analyst with Consumers Union. Hebert responds that slapping hard price regulations on California's energy market is the wrong course for at least three reasons: It does not encourage generators to build more plants, it doesn't prompt consumers to conserve energy and it will prompt power suppliers to sell electricity to neighboring states where prices aren't controlled -- unless California blocks power exports. What lessons the public will draw from California's plight this summer and the deregulation debate remains to be seen, but FERC -- and perhaps the Bush administration too -- has been pulled more closely than ever into that drama. Special correspondent Jeff Adler contributed to this article. , 2001 The Washington Post Company
----- Forwarded by Susan J Mara/NA/Enron on 01/31/2001 09:04 AM ----- Scott Govenar <[email protected]> 01/31/2001 05:04 AM To: Hedy Govenar <[email protected]>, Mike Day <[email protected]>, Bev Hansen <[email protected]>, Jeff Dasovich <[email protected]>, Susan J Mara <[email protected]>, Joseph Alamo <[email protected]>, Paul Kaufman <[email protected]>, David Parquet <[email protected]>, Rick Johnson <[email protected]>, Marcie Milner <[email protected]>, Sandra McCubbin <[email protected]>, Tim Belden <[email protected]>, Rick Shapiro <[email protected]>, Jim Steffes <[email protected]>, Alan Comnes <[email protected]>, Chris Calger <[email protected]>, Mary Hain <[email protected]>, Joe Hartsoe <[email protected]>, Donna Fulton <[email protected]>, Steven Kean <[email protected]>, Karen Denne <[email protected]>, Beverly Aden <[email protected]>, Bill Votaw <[email protected]>, Carol Moffett <[email protected]>, Debora Whitehead <[email protected]>, Dennis Benevides <[email protected]>, Don Black <[email protected]>, Dorothy Youngblood <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]>, "[email protected]" <[email protected]> cc: Subject: [Fwd: FW: Audit Reports in A.00-11-038 et al.] Attached, please find the CPUC's audit of PG&E. Received: (qmail 13015 invoked by uid 41); 31 Jan 2001 17:08:39 -0000 Received: from smtp.gmssr.com (HELO nt2.gmssr.com) (38.227.228.2) by mx7.quiknet.com with SMTP; 31 Jan 2001 17:08:39 -0000 Received: by nt2 with Internet Mail Service (5.5.2650.21) id <D4Z37A0S>; Wed, 31 Jan 2001 08:49:43 -0800 Message-ID: <415FF4AF3C7BD111AD1F00805FCB6D4A359A2C@nt2> From: MBD <[email protected]> To: "'Scott Govenar, Enron lobbyist'" <[email protected]> Subject: FW: Audit Reports in A.00-11-038 et al. Date: Wed, 31 Jan 2001 08:49:41 -0800 MIME-Version: 1.0 X-Mailer: Internet Mail Service (5.5.2650.21) Content-Type: multipart/mixed; boundary="----_=_NextPart_000_01C08BA5.CE72E4A0" X-Mozilla-Status2: 00000000 -----Original Message----- From: Hartmann, Audra [mailto:[email protected]] Sent: Tuesday, January 30, 2001 7:54 PM To: '[email protected]'; '[email protected]'; '[email protected]'; Minkin, Angela K.; '[email protected]'; '[email protected]'; Hartmann, Audra; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Linsey, Steve; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Walwyn, Christine M.; '[email protected]'; '[email protected]'; '[email protected]'; Danforth, Christopher; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Lafrenz, Donald J.; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Fua, Faline; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Kinosian, Robert; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; Zeller, Jason; '[email protected]'; Lo, Jeanette; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; DeUlloa, Joseph R.; '[email protected]'; '[email protected]'; '[email protected]'; Wong, John S.; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; Malcolm, Kim; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; Kajopaiye, Kayode; '[email protected]'; Hattevik, Kerry; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; Stevens, Maria E.; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; White, Rosalina; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Feraru, Robert T.; '[email protected]'; '[email protected]'; '[email protected]'; Casey, Sean F.; '[email protected]' <mailto:'[email protected]'> ; Gallagher, Sean H.; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' <mailto:'[email protected]'> ; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; Tapawan-Conway, Zenaida G.; Pedersen, Susan; Malcolm, Kim Subject: Audit Reports in A.00-11-038 et al. Here is the PG&E Audit, Commissioner Lynch's statement and the ruling regarding confidentiality. <<bwg_pge_report.pdf>> <<STATEMENT OF PUC COMMISSIONER LORETTA LYNCH 1-29.doc>> <<Ruling.DOC>> - bwg_pge_report.pdf - STATEMENT OF PUC COMMISSIONER LORETTA LYNCH 1-29.doc - Ruling.DOC
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 03/09/2000 11:11 AM --------------------------- [email protected] on 03/09/2000 12:09:17 AM To: Vince J Kaminski/HOU/ECT@ECT, [email protected] cc: Subject: Fwd: [Fwd: FW: Joys of Flying!] Return-Path: <[email protected]> Received: from rly-yd05.mx.aol.com (rly-yd05.mail.aol.com [172.18.150.5]) by air-yd01.mail.aol.com (v69.17) with ESMTP; Wed, 08 Mar 2000 17:04:39 -0500 Received: from mtiwmhc27.worldnet.att.net (mtiwmhc27.worldnet.att.net [204.127.131.52]) by rly-yd05.mx.aol.com (v69.17) with ESMTP; Wed, 08 Mar 2000 17:04:17 1900 Received: from worldnet.att.net ([166.72.233.46]) by mtiwmhc27.worldnet.att.net (InterMail vM.4.01.02.31a 201-229-119-114) with ESMTP id <20000308220415.LUAT24363.mtiwmhc27.worldnet.att.net@worldnet.att.net>; Wed, 8 Mar 2000 22:04:15 +0000 Message-ID: <[email protected]> Date: Wed, 08 Mar 2000 17:04:11 -0500 From: Marta Krawczyk <[email protected]> Reply-To: [email protected] Organization: My Kentucky Home X-Mailer: Mozilla 4.5 [en] (Win98; I) X-Accept-Language: en MIME-Version: 1.0 To: "Marla K. Burns" <[email protected]>, [email protected] Subject: [Fwd: FW: Joys of Flying!] Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit a to zarciki od mojego dziecka m Piotr Krawczyk wrote: > -----Original Message----- > From: [email protected] [SMTP:[email protected]] > Sent: Thursday, February 17, 2000 7:51 AM > To: Blair Myers; Piotr Krawczyk; A.L. Lubawy" <[email protected]; Peg & Ron Nutt; Saima Ismaili; theresa; benji > Subject: Joys of Flying! > > Subject: Fwd: Joys of Flying! > > These are funny!!!!!!!!! > > Occasionally, airline attendants make an effort to make the > "in-flight safety lecture" and their other announcements a > bit more entertaining. > > Here are some real examples that have been heard or reported: > > 1. From a Southwest Airlines employee.... "There may be 50 > ways to leave your lover, but there are only 4 ways out of > this airplane..." > > 2. Pilot-"Folks, we have reached our cruising altitude now, > so I am going to switch the seat belt sign off. Feel free to > move about as you wish, but please stay inside the plane till > we land...it's a bit cold outside, and if you walk on the > wings it affects the flight pattern." > > 3. After landing: "Thank you for flying Delta Business > Express. We hope you enjoyed giving us the business as much > as we enjoyed taking you for a ride. > > 4. As the plane landed and was coming to a stop at Washington > National, a lone voice comes over the loudspeaker: "Whoa, big > fella. WHOA!" > > 5. After a particularly rough landing during thunderstorms in > Memphis, a flight attendant on a Northwest flight announced: > "Please take care when opening the overhead compartments > because, after a landing like that, sure as hell everything > has shifted." > > 6. From a Southwest Airlines employee.... "Welcome aboard > Southwest Flight XXX to YYY. To operate your seatbelt, insert > the metal tab into the buckle, and pull tight. It works just > like every other seatbelt and if you don't know how to > operate one, you probably shouldn't be out in public > unsupervised. In the event of a sudden loss of cabin pressure, > oxygen masks will descend from the ceiling. Stop screaming, > grab the mask, and pull it over your face. If you have a > small child traveling with you, secure your mask before > assisting with theirs. If you are traveling with two small > children, decide now which one you love more. > > 7. Weather at our destination is 50 degrees with some broken > clouds, but they'll try to have them fixed before we arrive. > Thank you, and remember, nobody loves you or your money, more > than Southwest Airlines." > > 8. "Your seat cushions can be used for flotation and in the > event of an emergency water landing, please take them with > our compliments." > > 9. "As you exit the plane, please make sure to gather all > of your belongings. Anything left behind will be distributed > evenly among the flight attendants. Please do not leave > children or spouses." > > 10. "Last one off the plane must clean it." > > 11. From the pilot during his welcome message: "We are pleased > to have some of the best flight attendants in the industry... > Unfortunately none of them are on this flight...! > > 12. Overheard on an American Airlines flight into Amarillo, > Texas, on a particularly windy and bumpy day. During the final > approach, the Captain was really having to fight it After an > extremely hard landing, the Flight Attendant came on the PA > and announced, "Ladies and Gentlemen, welcome to Amarillo. > Please remain in your seats with your seatbelts fastened while > the Captain taxis what's left of our airplane to the gate!" > > 13. Another flight Attendant's comment on a less than perfect > landing: > "We ask you to please remain seated as Captain Kangaroo bounces > us to the terminal." > > 14. An airline pilot wrote that on this particular flight he > had hammered his ship into the runway really hard. The airline > had a policy which required the first officer to stand at the > door while the passengers exited, smile, and give them a > "Thanks for flying XYZ airline." He said that in light of his > bad landing, he had a hard time looking the passengers in the > eye, thinking that someone would have a smart comment. Finally, > everyone had gotten off except for this little old lady walking > with a cane. She said, "Sonny, mind if I as you a question?" > "Why no, Ma'am," said the pilot, "what is it?" The little old > lady said, "Did we land or were we shot down?" > > 15. After a real crusher of a landing in Phoenix, the Flight > Attendant came on with, "Ladies and Gentlemen, please remain in > your seats until Captain Crash and the Crew have brought the > aircraft to a screeching halt up against the gate. And, once > the tire smoke has cleared and the warning bells are silenced, > we'll open the door and you can pick your way through the > wreckage to the terminal. > > 16. Part of a Flight Attendant's arrival announcement: "We'd > like to thank you folks for flying with us today. And, the next > time you get the insane urge to go blasting through the skies in > a pressurized metal tube, we hope you'll think of us here at > US Airways."
Cara, It appears that some clarification on the Regions is necessary. Vish has implemented the cuts to show regions as defined by the Regions table in EnPower. This is the same table that is used in many of our reports. Should the regions that you are speaking of be separate from EnPower's list of regions? Vish tells me that "California" equates to all of NP-15, SP-15, ZP-26. Also he is unable to resolve "Northwest". Should we not resolve your list of regions to the EnPower list? Also, as an aside, I took a look at the West Discussion - Schedule Information in Notes and noticed that when looking at cuts the tree hierarchy was as follows Hour Ahead / Real-Time Region? (e.g. Montana, MARKETER, WSCC, NW, SW, FED Utility) Date Path Cuts Is the second item in the tree related to the region selection for path cuts? Thanks, Will -----Original Message----- From: Semperger, Cara Sent: Monday, August 13, 2001 1:16 PM To: Bentley, Corry; Poston, David; Smith, Will; Venkataswami, Vishwanatha Subject: Testing PSW and Path confirmation Good Afternoon, Here are my findings for the latest Release of the PSW and Path Conf. I am re-running the date of June 22, as I see no data in the path confirmation for that date. PreSchedule Workspace: I tried to open the sheet "PV_JUNE22_LIMITED" and got this error "Access violation at address 00000016. Read of address 00000016. I could not save, close or do anything, I had to end task to get out of the sheet and the PSW. I had run the COB sheet prior to opening the PV sheet, and had closed the COB sheet. When I re-opened the "PV_JUNE22_LIMITED" sheet, it was completely blank. This kind of data loss would be catastrophic in production if we were not using an outside Excel spreadsheet. Error checking The workspace seemed to get stuck on one deal not being a market deal (#657854.1) that was put in the market deal number area. It is an EPMICALPOOL deal that is a buy/resale. This error is understandable in the rows where the deal is present, but the routing error check mentioned it in rows 69-192, where the deal number was not present. Can the sheet be made to understand that a buy/resale should be tolerated in either the Supply or Market deal number cell? I also got just "Error:" with no explanation of what the error was for rows 3-6, 9-11 and 21-28. Rows 3-6 and 9-11, has a NW delivered upstream and Portland General System Downstream, both identified as Portland General System on the sheet. Rows 21-28 I see no errors apparent. My second PV sheet gave me routing error "Error:" with no explanation on rows 2-45. The only thing I see is that I have chosen R instead of X for the export. I changed all rows to X, and still got the routing error with no explanation. I have enclosed that sheet for your inspection. Could it be that the system already detects routes? << File: PV_JUNE22_LIMITED.psc >> Path Confirmation: The Transmission information seems to be populating correctly, all trans looks good and has the -E- on each side. I can put my POR/POD info in the Oasis cell, and all the info looks great! The Global ID Sorting is working just right. The Tag Sorting is also working just right. The expanded view is showing the entire path regardless of length. I like the POR and POD sort capability, this will be very helpful. In the Expanded View, even though I know the counterparty, this view sometimes shows me a blank drop down box where the counterparty should be. Allegheney did not show a counterparty name here. This actually looks like it might be specific to Allegheney. In the line view My counterparty on the sheet CPS shows Constellation Power Source, Inc. but in the expanded view I see City Public Service of San Antonio. They both have CPS as their short name, but the second counterparty is an East Desk Counterparty. Corry, Can you get their short name changed to something else you like? Path Cut: The regions are not what I have repeatedly asked for. I only want to see the following: California Northwest WSCC-N WSCC-S Rockies. If I need to provide more explanation on this, I am happy to do so. The current breakout is too detailed as well as incomplete, and will be cumbersome for real-time and settlements to use. These regions will correlate with the same region choices in the Discussion Dbase that I am working with Poston to get done. Closing path cut seems to take quite a long time even when no saving is done, just over a minute. Users will percieve this as something broken. I think that Bill Williams III and the real time group here will have more to add on path cut, I will hand this off to them very soon. Overall Findings: I feel that with this release we are very close to what we need for production. We will definately have to get a handle on the data loss issue, but the functionality looks really good. My goal is to release this and the discussion Dbase at the same time so that we are able to tell settlements that from "X" date previous the records are in lotus, and from "X" date forward they are in the new system. Those groups will have huge confusion if we overlap days in both. Please let me know anything else that I need to do, and when I may test again. Thanks Cara
---------------------- Forwarded by Scott Neal/HOU/ECT on 11/03/2000 05:42 PM --------------------------- <[email protected]> on 10/11/2000 04:30:23 PM To: <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <GeorgeR@RangerAmericanSecurity>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]> cc: Subject: 2000-01 Boys & Girls Basketball Season REMINDER: Registration is now open for the SBMSA 2000-01 Boys & Girls Basketball Season. Online registration is at www.sbmsa.org. In person registration is at Spring Branch Elementary School Thursday, October 12th from 6pm to 8pm and Sunday, October 15th from 1pm to 3pm. SPACE IS LIMITED - REGISTER SOON!!
-----Original Message----- From: Sandy Lee Sent: Thursday, December 07, 2000 11:14 AM To: Annetta Harrison; Bill Lee (E-mail); Carol Lester (E-mail); Cindy Colston (E-mail); Glenna Bodeker (E-mail); Jerry Hart (E-mail); Judy Alsobrook (E-mail); Molly Laas-Sughrue (E-mail); Peggy Lee (E-mail); Valrie Chambers (E-mail); Wendy & Bryan Monroe (E-mail); Bobby Jackson; Dianne Yarbrough; Elizabeth Andrews; Helen Boyd; Kay Garcia; Ruth Colburn Subject: FW: THIS IS SCARY!!! DO IT!! I hate these damn things!! > Subject: Fwd: THIS IS SCARY!!! DO IT!! > > This Is Scary!! > The Phone Will Ring Right After You Do This. . . > Just read the little stories and make a wish. > Scroll all the way to the bottom and there is a little message there > -then do it. No attachment on this one. > > I'm 13 years old, and I wished that my dad would come home from the army, > because he'd been having problems with his heart and right leg. It was > 2:53 p.m. that I'd made the wish. At 3:07 p.m. (14 minutes later), the > doorbell rang, and there he was, luggage and all!! > > Katie > > > I'm 20 and I've been having trouble in my job and on the verge of > quitting. > I made a simple wish that my boss would get a new job. That was at 1:35 > and at 2:55 there was an announcement that he was promoted. > > Lisa > > > Believe me...this really works!! Just scroll down to the end, but while > you do, make a wish. Whatever age you are, is the number of minutes it > will take for your wish to come true (ex. you are 15 years old, it will > take 15 minutes for your wish to come true). If you don't send this to > people in 5 minutes, you will have bad luck for years!! > > Go!!!!!! > * > > * > ** > * > ** > *** > **** > ***** > ****** > ******* > ******** > ********* > ********** > *********** > ************ > ************* > ************** > *************** > **************** > ***************** > ****************** > ******************* > ******************** > ********************* > ********************** > *********************** > ************************ > ************************* > ************************** > *************************** > **************************** > ***************************** > ****************************** > ******************************* > ****************************** > ***************************** > **************************** > *************************** > ************************** > ************************* > ************************ > *********************** > ********************** > ********************* > ******************** > ******************* > ****************** > ***************** > **************** > *************** > ************** > ************* > ************ > *********** > ********** > ********* > ******** > ******* > ****** > ***** > **** > *** > ** > * > > * > ** > * > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >*** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >**** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >***** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >****** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >******* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >******** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >*********** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >************ > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >*************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >**************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >***************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >****************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >******************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >******************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >*********************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >************************ > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >************************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >*************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >**************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >***************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >****************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >> >******************************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >****************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >***************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >**************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >*************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >************************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >************************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >************************ > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >*********************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >******************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >******************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >****************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >***************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >**************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >*************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >************** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >************* > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >************ > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >*********** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********** > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >********* > >>>> >> 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>> > > > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >STOP!!!!!!!! > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >Congratulations!!!!!!!!!!!!!!!!! > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >Your wish will now come > true in your > >>>> >> > >>>>>>>>age > >>>> >> > >>>>>>>> > minutes!! > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >Now follow this > carefully.... it can be very rewarding!!!! If you send this to 10 more > people, other than the 5 that you already have to send to, something major > that you've been wanting will happen . > >>>> >> > >>>> > >>>>>>>>__________________________________________________________________ > __ > >>>> >>_____ > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > >>>> >> > >>>>>>>> > >>> > > > > > >> > > >>>> >> > >>>>>>>> > >>> > > > > > >> > >>>> >> > >>>>>>>> > >>> > > > > > >> > >>>> >> > >>>>>>>> > >>> > > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > > >>>> >> > >>>>>>>> > >>> > > > > > >>>> >> > >>>>>>>> > >>> > > > > >>>> >> > >>>>>>>> > >>> > > > >>>> >> > >>>>>>>> > >>> > > > >>>> >> > >>>>>>>> > >>> > > >>>> >> > >>>>>>>> > >>> > > >>>> >> > >>>>>>>> > >>> > >>>> >> > >>>>>>>> > >>> > >>>> >> > >>>>>>>> > >> > >>>> >> > >>>>>>>> > >> > >>>> >> > >>>>>>>> > > > >>>> >> > >>>>>>>> > > > >>>> >> > >>>>>>>> > > > >>>> >> > >>>>>>>> > > >>>> >> > >>>>>>>> > >>>> >> > >>>>>>> > >>>> >> > >>>>>> > >>>> >> > >>>>> > >>>> >> > >>>> > >>>> >> > >>> > >>>> >> > >> > >>>> >> > > > >>>> >> > > >>>> >> > > >>>> >> > > >>>> > >>________________________________________________________________________ > _ > >>>> >> > 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. > >>>> >> > > >>>> >> > > >>>> >> > > >>>> > > >>>> > >_________________________________________________________________________ > >>>> >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. > >>>> > > >>>> > >>> > >> > > > >_________________________________________________________________________ > __ > __________ > >Get more from the Web. FREE MSN Explorer download : > http://explorer.msn.com > > > > ++++++CONFIDENTIALITY NOTICE+++++ The information in this email may be confidential and/or privileged. This email is intended to be reviewed by only the individual or organization named above. If you are not the intended recipient or an authorized representative of the intended recipient, you are hereby notified that any review, dissemination or copying of this email and its attachments, if any, or the information contained herein is prohibited. If you have received this email in error, please immediately notify the sender by return email and delete this email from your system. Thank You
Have to agree with your assessment. And, I promise she will try like the dickens to do stuff with Niklaus (sp?) maybe at the expense of doing things with you. Mitch is the guy she's been seeing for about a month now. He came over last night to watch the Oscar's with us. Me in a wing-back and Lisa and Mitch holding hands, rubbing arms etc., on the couch. This is the second time I can recall since being in the apartment with her that I've had to witness the "cuddle fest." Not to mention the "cuddle fest" we all witnessed with Chad at Europa. Maybe if she does come over you could be the little red devil on her shoulder encouraging her to hook up with Nik...force her to make some sort of decision about all these guys. She's in heat right now I swear. Every 5 sec. there's some new guy she thinks is hot. The guy serving us at Jason's Deli might be the next victim. She's totally out of control. I must say I loved the way she casually suggested the Nik probably wasn't your type anyway...covering all the bases. It's really pitiful you know...I'm just glad we will never have the same taste in men. Did I mention that Laura White's fiancee asked Laura what was going on with Mitch and I at Kenneally's b/c I was spending more time with him than Lisa (she was of course performing the role of social butterfly). Like I said, it's pitiful. In actuality, I think I'm the only one of her "friends" that have met Mitch and think he's all right I'm pretty sure everyone else has told her they think she can do better. I beg to differ, knowing Lisa a little better than them (i.e. the many faces of eve) and would argue instead that he's a pretty good catch for her...caves eventually but not perceived (at least by her) as a complete push-over. Perfect combo for our Ms. Gillette. Can you believe my parents? They were only in San Diego for all of 12 hrs and took a roll of film...what dorks. Sue I'll work on the trip thing...the timing sounds good to me. Enron Capital & Trade Resources Corp. From: "Emily Hillegeist" <[email protected]> 03/26/2001 11:58 AM To: [email protected] cc: Subject: Fwd: Whats Up? KEEP YOUR FRIENDS CLOSE AND YOUR ENEMIES CLOSER! com'on.....realllly! one would think this email was to organize a trip to london- but nooooo...it's a "hands off" warning instead. and admittedly, the bit about "trusting me to honor" pulls at me and w/ anyone else, i'd snap into good behavior mode, but then i step bk and realize how sneaky and evil (hel-lo? who is mitch? does she have dibs on him as well? how many 'dibs' are we allocated? let me know when you get the scoop...)what nerve! as for the 1 line about coming to london, katy isn't coming mid may- she's coming at the end-begin. of june, which is much better for me, too- have school full-time til last week of may....so, i vote you send her mid may, then come w/ kates at the end of the month. and, gee- do tyou think i can predict her visit? let's see- it'll be convenient and cheap to stay w/ me....but- perfect timing for her to show up at my doorstep, get her extra key, then jaunt off to 'secure' her position w/ mr.dibs....not that i'm complaining- just horribly offended that she thinks i'm so dense as to not be able to see- and hear- her large, slow, unoiled wheels a-turning....! aughhhhh! see below, obviously.... e >From: [email protected] >To: [email protected] >Subject: Whats Up? >Date: Mon, 26 Mar 2001 10:19:11 -0600 > >Em, > >how are things? i was hoping to give you the latest news, but hear katy >has already let you in on the new swedish cutie roaming the streets of >london. i know susan has already warned you that i have dibs on him, so i >am trusting you to honor that. however, i dont think that will be a >problem - i think you will find him physically attractive, but maybe >nothing more than that. he's kind of dopey and doe-de-doe. you either >enjoy hes weird charm or are completely annoyed by it. anyways- i hear >tobin is visiting, hows that going? i am hoping to come in mid may if that >works for you. i am going to try to get susan to come along as well, but >let me know what your plans look like for the next couple of months. > >talk to you later, >lisa > _________________________________________________________________ Get your FREE download of MSN Explorer at http://explorer.msn.com
RTO Week Day 3 -- October 17, 2001 Standardizing RTO Tariffs The morning panel focused on which transmission services should be standardized in RTO tariffs across an interconnection or the entire country. There were many diverse views on the panel, and the Staff and commissioners were somewhat more engaged in this session. The panelists were: Ricky Bittle, Arkansas Electric Coop; Jim Caldwell, American Wind; Peter Esposito, Dynegy; Rory McMinn, New Mexico PSC; Glenn Ross, Dominion Resources; Audrey Zibelman, XCEL Energy. General Observations This panel had a lot less agreement than the previous panels. Dynegy opposes standardization of a transmission tariff and urges FERC to give strong guidance to stakeholders and then let the stakeholders work out the details of a new tariff. Dominion advocates a more prescriptive approach by FERC, noting that stakeholders have been unable to reach agreement over the last five years. EXCEL has it's own focus - they want to be an ITC and want to provide many of the RTO services without being an RTO. The Wind group is mostly concerned about the ability to provide generation on an "as available" basis. The commissioner from New Mexico does not want standardization, does not want FERC stepping on the state's jurisdictional toes, and does not want New Mexico ratepayers' rates to go up. Arkansas Electric Coop insists that SPP transmission capacity is full, so if competitors want to move power through SPP, new transmission must first be built. I am somewhat concerned that some of the Commissioners may believe that tariff standardization is not necessary. While the Dynegy concept had merit at one time, it may be too late to rely on the stakeholder process to resolve issues, and it could take many months to go through the process, only to have FERC, in the end, decide the details anyway. We may want to submit comments on this issue to FERC at the conclusion of RTO Week. What Services Should be Standardized? Overall, Dynegy opposes standardizing tariffs but believes certain aspects of reservations should be standardized -- timing, confirmation processing, maintenance issues, bus names, ramping protocols, assumptions for ATC calculations, posting times, bumping rules, and settlement time. With regard to congestion management, it should not be standardized between RTOs. XCEL does not support a standardized tariff but urges FERC to standardize some issues such as CBM calculations, reserve obligations and load balancing and penalties. American Wind says FERC must focus on having liquid spot markets in RTOs and not worry about tariff standardization. Dominion cautions FERC about Dynegy's proposal to let the industry work out the details. He says this is what happened with Order No. 2000 and the industry was unable to work it out. Should FERC Retain CBM? Ricky (Arkansas Coop) believes that the bigger the RTO, the less important CBM is because the RTO will have enough resources internally to effectuate reserve sharing. Dynegy thinks CBM should be eliminated. Dominion thinks CBM should be retained but the rules need to be changed. CBM should not be set for a year - it changes on a daily basis and this should be reflected. Nor should CBM be standardized because needs vary region to region. However, because CBM is used for load, the cost of CBM should be allocated to load. All panelists agreed with the concept that if CBM is retained, load should be required to purchase it as a service provided under the tariff. Network Versus Point to Point Service Peter (Dynegy) discussed the need to develop a new type of transmission service that combines the best features from network and point to point, similar to transportation service offered in gas -- firm and interruptible. Peter suggests starting with the CRT tariff proposed several years ago. Glenn (Dominion) thinks the CRT is outdated and thinks we need a new type of service but agrees that it should combine the best elements of network and point to point. Should all Transmission Service Be Under the RTO's Tariff? Most of the panelists said yes, all service should be under the tariff, but Ricky Bittle said there needs to be a transition period - minimum of 5 years, no more than 10 years. Commissioner McMinn said no - he sees this as an infringement on the states' jurisdiction. What Services Need to Be Changed Under a New RTO Tariff? Jim (Wind) believes that the imbalance provisions must be revised so as not to penalize "as available" resources. Ricky thinks transmission expansion is the most important issue to address in a new tariff. XCEL urges FERC to recognize the distinction between RTOs and ITCs and allow ITCs to design and offer their own transmission tariffs. Ray Alvarez will circulate a summary of the afternoon panel on Cost Allocation. Please let me know if you have any questions. Sarah
Joe, Attached is the Cash Payment Request to refund El Paso Energy Marketing for the misdirected funds they sent to HPL/Enron instead of HPL/AEP in November 2001. Let me know if you need further assistance. -----Original Message----- From: Dhont, Margaret Sent: Tuesday, February 05, 2002 9:26 AM To: Denetsosie, Troy Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline Hi Troy It is a Bank of America account. However, the final resting place is not co 1648 account 12855818 but it was since moved to company 364 account # 3000018982 which is an AEP/Hpl account. Thanks Margaret -----Original Message----- From: Dhont, Margaret Sent: Monday, February 04, 2002 1:50 PM To: Denetsosie, Troy Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline The counterparty that paid us was El Paso Energy Marketing $154,240.00 was received on November 26, 2001 It is sitting in co 1648 account 12855818 The cash was received into bank ABA # 111000012 account 3750494141 company 1648 There you go, Troy -----Original Message----- From: Baxter, Bryce Sent: Monday, February 04, 2002 9:46 AM To: Dhont, Margaret Cc: Denetsosie, Troy Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline Troy Denetsosie needs the following info to work up a wire: Legal name of the counterparty that paid us Exact amount/date of payment What account this is sitting in now (I guess where we want the wire coded) Was the cash paid to a DIP or non-DIP account Thanks. -----Original Message----- From: Coffey Jr., Jim Sent: Monday, February 04, 2002 9:19 AM To: Denetsosie, Troy Cc: Parks, Joe; Baxter, Bryce; Eubanks Jr., David W. Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline Troy Please work up a Payment Reqest form to refund El Paso. Get the wording for the economic justification from Joe Parks and work with Bryce Baxter and David Eubanks to generate a wire. Then forward to Chip Schneider and Lindsay Long to get it on the 5 day list. Thanks! Jim -----Original Message----- From: Cherry, Paul Sent: Monday, February 04, 2002 9:12 AM To: Coffey Jr., Jim Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline Per your voice mail. -----Original Message----- From: Cherry, Paul Sent: Thursday, January 31, 2002 2:45 PM To: Coffey, James Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline Per my voice mail. Regards. -----Original Message----- From: Cherry, Paul Sent: Tuesday, January 29, 2002 8:34 AM To: Hayslett, Rod; Porter, J. Gregory Subject: FW: El Paso Misdirected Wire $ 154,240 to Houston Pipeline Rod, Greg has requested that I forward the details of a misdirected wire that El Paso had sent to HPL in error and were unable to retrieve. Greg has attempted on several occasions to contact Lisa Mellencamp in regard to the situation without success. He indicated that if we forwarded the details to your attention you may provide some assistance. Thanks and Regards. -----Original Message----- From: Cherry, Paul Sent: Monday, December 17, 2001 3:48 PM To: Porter, J. Gregory; Neubauer, Dave; Miller, Kent Cc: Howard, Kevin A.; Pryor, Tony Subject: El Paso Misdirected Wire $ 154,240 to Houston Pipeline I have located where El Paso in error sent a wire transfer of $ 154,240 to Houston Pipeline ( based upon my understanding a non bankrupt entity ) instead of AEP on November 26. I spoke to Bryce Baxter, Manager of Settlements as to what could be done to get El Paso their funds. He stated that as a result of the Bankruptcy, Bank of America where the wire transfer was sent, seized the account and has frozen those funds. Bryce also stated that they did not intend to return the funds since they were originally for AEP and AEP owned $ 25M on November 26 and and another $ 45M on December 26. He stated these were the instructions from Lisa Mellencamp in their Legal group. Any thoughts or direction on where to go next? Thanks.
Wednesday, April 11, 2001 Energy Cost Study Critical of Public Agencies Too ??? Power: DWP is among three government-run producers cited as driving prices up. Spokesmen deny ? ?????any market manipulation. By ROBERT J. LOPEZ, RICH CONNELL, Times Staff Writers Contra Costa Times, April 11, 2001, Wednesday, STATE AND REGIONAL NEWS, ????K4693, 736 words, State gets no promise of help, By Rick Jurgens Copley News Service, April 11, 2001, Wednesday, State and regional, 471 ????words, Price gouging could force new energy rate boost, PUC chief says, Ed ????Mendel, SACRAMENTO Los Angeles Times, April 11, 2001, Wednesday,, Home Edition, Page 8, 555 ????words, POWER CRISIS: FOG STARTS TO THIN; ??MOVEMENT TOWARD SOLUTIONS IS NOW ????VISIBLE IN THE ELECTRICITY CRISIS, A BIG ADVANCE FROM THE RECENT IMPASSE. Los Angeles Times, April 11, 2001, Wednesday,, Home Edition, Page 8, 453 ????words, LEADERSHIP IN POWER CRISIS Monterey County Herald, April 11, 2001, Wednesday, MN-CONSERVE-ENERGY, 612 ????words, California Lawmakers Demand More Energy Efficiency from Businesses, ????By Sylvia Moore The San Francisco Chronicle, APRIL 11, 2001, WEDNESDAY,, FINAL EDITION, ????NEWS;, Pg. A12, 1087 words, NEWS ANALYSIS; ???Different Ways Of Coping for ????PG&E, Edison; ???It may take years to determine if bailout or bankruptcy was ????wisest, David Lazarus The San Francisco Chronicle, APRIL 11, 2001, WEDNESDAY,, FINAL EDITION, ????NEWS;, Pg. A1, 1040 words, State Legislators Take Argument For Electricity ????Rate Cap to Feds, Lynda Gledhill The Washington Post, April 11, 2001, Wednesday, Final Edition, METRO; Pg. ????B01, 1067 words, Gas Plant's Proposal Alarms Neighbors in Calvert; Owner ????Pushes to Reactivate Facility, Raymond McCaffrey, Washington Post Staff ????Writer The Associated Press, April 11, 2001, Wednesday, BC cycle, 9:19 AM Eastern ????Time, Business News, 381 words, Report: Government utilities allegedly ????gouged California during power crisis, LOS ANGELES The Associated Press, April 11, 2001, Wednesday, BC cycle, 3:46 AM Eastern ????Time, Business News, 841 words, States say federal government needs to act ????to stem energy crisis, By H. JOSEF HEBERT, Associated Press Writer, BOISE, ????Idaho The Associated Press State & Local Wire, April 11, 2001, Wednesday, BC ????cycle, 2:19 AM Eastern Time, State and Regional, 966 words, Cheney urges ????patience for Bush's energy approach, By DAVID AMMONS, AP Political Writer, ????OLYMPIA, Wash. ABC, April 10, 2001, Pg. 48, 172 words, SPANISH GOVERNMENT PREPARES NEW SET ????OF ELECTRICITY TARIFFS TO AVOID "CALIFORNIA EXPERIENCE" (EL GOBIERNO PRAPARA ????UN NUEVO MODELO DE TARIFAS ELECTRICAS PARA EVITAR LA "EXPERIENCIA ????CALIFORNIA") AP Online, April 10, 2001; Tuesday, Domestic, non-Washington, general news ????item, 704 words, Fed Agency To Discuss Power Demands, H. JOSEF HEBERT, ????BOISE, Idaho AP Online, April 10, 2001; Tuesday, Domestic, non-Washington, general news ????item, 585 words, Calif. Gov. To Buy Power Lines, LESLIE GORNSTEIN, LOS ????ANGELES Wednesday, April 11, 2001 Energy Cost Study Critical of Public Agencies Too Power: DWP is among three government-run producers cited as driving prices up. Spokesmen deny any market manipulation. By ROBERT J. LOPEZ, RICH CONNELL, Times Staff Writers ????Government-owned utilities, including the Los Angeles Department of Water and Power, were influential in driving wholesale electricity prices to levels that helped ignite California's exploding energy crisis during the summer and fall, according to public and confidential records. ?????For months, Gov. Gray Davis, legislators and consumer advocates have chiefly blamed a few private power companies for throwing the state into darkness and economic chaos. ?????But they are just part of the equation. ?????A confidential document obtained by The Times names power providers that have allegedly manipulated the electricity market. While the document does identify out-of-state merchants criticized for gouging, it also discloses for the first time the extent to which public entities allegedly have maximized profits in the volatile spot market. ?????The document--which decodes the identities of unnamed suppliers in a recent state study--singles out three government-run agencies as consistently trying to inflate prices. They are: the DWP, the federally owned Bonneville Power Administration in the Pacific Northwest and the trading arm of Canada's BC Hydro in British Columbia. ?????Like a number of privately owned generators, these three producers offered power at a range of high prices and, sometimes, in large amounts when the state was most desperate. They also helped saddle California's three largest utilities with billions of dollars in debt--leading one, Pacific Gas & Electric, to seek bankruptcy protection last week. ?????The study by the California Independent System Operator, or Cal-ISO, analyzed thousands of hours of bidding practices for 20 large suppliers in the spot, or "real-time," market from May to November. The study accounted for factors such as rising production costs, increased demand, periods of scarcity and profits that would be earned in a healthy, competitive market. ?????Money earned above that was called excess profits. ?????No entity--public or private--earned as much in alleged excess profits as British Columbia's Powerex, the state records show. ?????"They were the most aggressive bidders," said Anjali Sheffrin, author of the coded study. ?????"They had the most amount to bid and the most freedom to bid it in," said Sheffrin, who did not discuss any companies by name. ?????The Canadian agency reaped $176 million in alleged excessive profits--several times the amount collected by all but one of the private generators. Second on the list was Atlanta-based Southern Co. Energy Marketing, now called Mirant, which collected nearly $97 million in alleged inflated earnings. ?????BC Hydro and Mirant--along with the DWP and other producers--say they played by the rules established under California's flawed deregulation plan and did not exploit the state's troubles. ?????But BC Hydro officials acknowledge that they did anticipate periods of severe power shortages and planned for them by letting their reservoirs rise overnight and then opening them to create hydroelectricity, which could be produced inexpensively but sold for a premium. ?????"It was the marketplace that determined what the price of electricity would be at any given time," said BC Hydro spokesman Wayne Cousins. "We helped keep the lights on in California." ?????And the rates low for their own customers. During the past year, BC Hydro has stashed hundreds of millions dollars in a "rainy day" account to ensure that it has among the lowest rates in North America. ?????Los Angeles' Department of Water and Power, although eighth on the list of alleged profiteers, was among those singled out for seeking high prices during periods of high demand that helped inflate costs across the entire spot market, where emergency purchases are made. ?????This, according to state documents, was accomplished by offering power at incrementally higher prices that would rise substantially with even modest increases in demand. The strategy also helped prop up prices, keeping them from falling. ?????The DWP's average hourly bid, or asking price, for electricity ultimately bought topped such private sellers as Reliant Energy of Houston and Tulsa-based Williams Cos., two major players in the national energy market. ?????In addition, the DWP submitted other bids at far higher prices that could pay off handsomely with even small bumps in demand, the report said, referring by code to DWP and four other suppliers. "The data shows they clearly exercised market power to inflate prices further at higher load conditions." ?????DWP General Manager S. David Freeman called the report's findings "outrageous," insisting that the utility never tried to inflate prices. ?????"These charges go under the heading there is no good deed that goes unpunished in this state," Freeman said, noting that DWP power helped avert more blackouts across the state. ?????He did acknowledge, however, that the agency has charged high prices for surplus power at the 11th hour but said that was only because it cost more to produce. ?????"We have consistently charged [Cal-ISO] our cost, plus 15%," he said. "It's not as though we're up there peddling a bunch of power to jam it down their throats." ?????Freeman said that when his staff reviewed the coded report, they never took it personally. "If you're innocent," he said, "you don't look at the criminal file." ?????Yet another public agency criticized for its behavior in California's deregulated market was the U.S. government's Bonneville Power Administration, a nonprofit agency that sells wholesale electricity produced at 29 federal dams in the Columbia-Snake River basin. ?????Bonneville actually bid slightly lower than the DWP, records show, but reaped millions more in alleged excessive profits, apparently because it supplied greater amounts of power during the period studied. Bonneville was in the top five accused of taking excessive profits. ?????Bonneville officials say some of its profits are used to pay back federal construction loans and fund an internationally recognized salmon recovery program. ?????Stephen Oliver, a Bonneville vice president, said his agency did not act improperly and has asked Cal-ISO for detailed information on how it reached its conclusions. He said the grid operator often came to Bonneville pleading for last-minute electricity and offering to pay high prices. ?????"From our point of view, we bid what we had when we had it and we operated precisely within the terms of their rules," Oliver said. ?????Those rules--and the bidding practices criticized by Cal-ISO--so distorted the market that Aquila Power Corp. of Missouri, which tried to act responsibly, has bailed out. ?????It offered the lowest average hourly price of any supplier studied--slightly more than $8 per megawatt-hour, compared to Mirant's $138, the highest. ?????But the spot market, as initially designed, made sure that all suppliers offering power received the highest price paid in any hour. ?????The result: Aquila collected $171 an hour for power it was willing to sell at a single-digit price. ?????"They weren't the culprits," said Cal-ISO's Sheffrin. "Someone else drove that up." ?????Aquila spokesman Al Butkus said the company pulled out of the California market because it was too unpredictable. Although the company made money, he said, it also could have lost because of possible downward swings. ?????"We looked at it and we didn't feel very comfortable with what we saw," he said. ?????The market has since been adjusted to prevent high bids from setting the price for everyone. But Sheffrin said it hasn't made much difference because the overall prices are still excessive. ?????"We're saying the patient is sick," Sheffrin said of California's electricity market. "It needs help [and] may die." ????? * * * ?????Top 10 in Profits ?????The California Independent System Operator says that a total of $505 million in extra profits was reaped by power suppliers from May to November 2000 in California's volatile spot market. The alleged excess profits were generated by high bids and high-volume sales during periods of peak demand. * * * ?????British Columbia Power Exchange: $176.2 million ?????Southern Co. Energy Marketing (renamed Mirant): $96.8 million ?????Reliant Energy Services $35.5 million ?????Dynergy Electric Clearing House $32.1 million ?????Bonneville Power Administration $30.0 million ?????Enron Energy Services $27.9 million ?????Duke Energy Trading $18.4 million ?????Los Angeles Dept. of Water and Power $17.8 million ?????Sempra Energy Trading $14.9 million ?????Pacific Corp. $13.6 million ?????Source: Public and confidential government records Copyright 2001 Los Angeles Times ?Copyright 2001 Knight Ridder/Tribune News Service ???????????????????????Knight Ridder/Tribune News Service ??????????????????????????????Contra Costa Times ??????????????????????????April 11, 2001, Wednesday SECTION: STATE AND REGIONAL NEWS KR-ACC-NO: ?K4693 LENGTH: 736 words HEADLINE: State gets no promise of help BYLINE: By Rick Jurgens BODY: ??BOISE, Idaho _ A delegation of California legislators traveled here Tuesday to plead with federal regulators to cap soaring wholesale electricity and natural gas prices but left within a few hours without any promises of relief. ??Assembly Speaker Robert Hertzberg, D-Van Nuys, the delegation leader, urged the Federal Energy Regulatory Commission not to turn its back on the Golden State. "California is poised on the edge of an economic precipice that threatens not only our economy but the economy of the entire country," he said. ??But Commission Chairman Curt Hebert chided California for not doing enough to solve its own problems. Still, he professed his willingness to help. "It is in everyone's interest to keep the lights on at all costs," he said. ??But Hebert, a protege of Senate Majority Leader Trent Lott, R-Miss., is a vocal opponent of price caps and didn't offer the California delegation the promise it was looking for. That didn't surprise Assemblyman Fred Keely, D-Santa Cruz, a member of the delegation. Such a move would be "a dramatic and unprecedented departure" from past actions of the commission, Keely said as he left the meeting. ??California led the nation in electricity industry restructuring with a 1996 law that turned over control of the state's lifeline of electrons to a market dominated by a handful of private generating companies. ??But so far, the market hasn't delivered on the promise of cheaper power. In California, power procurement costs jumped to $32 billion in 2000, from $7.4 billion in 1999, and could go as high as $65 billion to $70 billion this year, Keely said. ??Now the state can't put its deregulation genie back in the bottle without FERC's help. And although two of the three commissioners at Tuesday's meeting said they were willing to consider price caps, the measure faces an uphill battle in the five-member commission, which will soon have two new Republican members appointed by President Bush. ??In the meantime, don't look for relief this summer from the region's hydroelectric dams, the regulators were told. "Probably the greatest energy crisis the West has experienced ever" looms after a dry winter emptied reservoirs behind the dams, U.S. Sen. Larry Craig, R-Idaho, told the commission. ??Jim Kempton, a representative of the Northwest Power Planning Council, said there is a "near-record drought in the Columbia River Basin." ??But the region's electricity crunch isn't purely an act of nature, according to the regulators from 11 Western states who were at the meeting. Complaining that electricity industry restructuring hasn't created a well-functioning wholesale market in the Western states, several blamed the control over output and prices exercised by a handful of generators and traders." "Market power continues to plague restructuring," said Constance White, a Utah regulator. ??But the call for price caps opened a fault line among the regulators and politicians at the meeting, where opponents of caps had the home-court advantage. "Price caps do not provide incentives for conservation and do not provide incentives for investment" in new power plants, said Idaho Gov. Dirk Kempthorne, a Republican. That position was backed by a letter from nine Western governors hailing the commission for its "resistance to the considerable pressure to impose 'penny wise and pound foolish' rate controls." ??The California delegation countered with its own gubernatorial letter, from Gray Davis, calling for "real and effective price restraints in what is obviously a dysfunctional electricity market in California and throughout the West." Davis noted that Oregon and Washington governors support his position. ??That call found a receptive ear in William Massey, a FERC member who supports caps. "Our passion for markets must be tempered with common sense," he said. ??Some at the meeting took the opportunity to offer California some advice on how to deal with its problems. Marsha Smith, an Idaho regulator, urged Californians to prepare to bite the bullet. "The only answer for the summer is demand reduction," she said. "If the price goes (beyond the limit you're willing to pay), don't buy it. I would rather have rolling blackouts." ??KRT CALIFORNIA is a premium service of Knight Ridder/Tribune ??(c) 2001, Contra Costa Times (Walnut Creek, Calif.). ??Visit the Contra Costa Times on the Web at http://www.cctimes.com/ JOURNAL-CODE: CC LOAD-DATE: April 11, 2001 ??????????????????????????????8 of 100 DOCUMENTS ??????????????????????Copyright 2001 Copley News Service ?????????????????????????????Copley News Service ??????????????????????????April 11, 2001, Wednesday SECTION: State and regional LENGTH: 471 words HEADLINE: Price gouging could force new energy rate boost, PUC chief says BYLINE: Ed Mendel DATELINE: SACRAMENTO BODY: ??The state's top electricity regulator told a congressional hearing yesterday that California may have to raise rates again if federal regulators do not stop price gouging by generators. ??The president of the Public Utilities Commission, Loretta Lynch, told the congressional panel that ''California is literally being plundered, with the full knowledge and consent of the Federal Energy Regulatory Commission.'' ??When the PUC adopted the biggest rate increase in California history last month for Pacific Gas and Electric and Southern California Edison, Lynch said she believed that no more rate increases would be needed. ??But Lynch had a different view yesterday as she testified at a hearing on the California electricity crisis chaired by Rep. Dan Burton, R-Ind., which continues today in San Jose and tomorrow in San Diego. ??Lynch told Burton that the two rate increases adopted by the PUC since January totaled 4 cents per kilowatt hour, enough to be a 60 percent increase if they were enacted in Burton's congressional district in Indiana. ??''It may not be enough,'' Lynch said, ''if the current price-gouging practices persist and remain unabated by federal regulators.'' ??The PUC raised the PG&E and Edison residential rate 9 percent in January. A second increase last month raised the electricity tab more than 40 percent and the total monthly bill, including transmission and distribution fees, 26 percent. ??The PUC has not acted on a request by San Diego Gas & Electric, which is in a different financial situation, for a rate increase of 2.3 cents per kilowatt hour. ??Lynch said a flawed deregulation plan pushed by former Republican Gov. Pete Wilson ''caused the utilities to sell off much of their generation to entities who now hold us hostage daily to extortionate price demands for electricity.'' ??The Republican congressmen on the panel reopened the debate about whether Lynch, an appointee of Democratic Gov. Gray Davis, and the PUC prevented utilities from obtaining cheap long-term power contracts last fall. ??Lynch said the PUC quickly approved long-term contracts last Aug. 3, two weeks after a request from the utilities. She said the utilities obtained a number of long-term contracts but declined to give details, referring the panel to the utilities. ??The San Diego-based consumer group Utility Consumers' Action Network is suggesting dramatically different solutions to the state's power crisis. ??UCAN will release a report today calling for a ''buyers' cartel'' made up of the states of California, Oregon and Washington that would buy power together, insisting on reasonable prices from power generators. ??UCAN also calls for the forced sale to the state of any in-state power generator that refuses to sell at reasonable rates. ??WAGNER-CNS-SD-04-10-01 2119PST LOAD-DATE: April 11, 2001 ?????????????????????????????12 of 100 DOCUMENTS ??????????????????????Copyright 2001 / Los Angeles Times ??????????????????????????????Los Angeles Times ???????????????????April 11, 2001, Wednesday, Home Edition SECTION: Metro; Part B; Page 8; Editorial Writers Desk LENGTH: 555 words HEADLINE: POWER CRISIS: FOG STARTS TO THIN; MOVEMENT TOWARD SOLUTIONS IS NOW VISIBLE IN THE ELECTRICITY CRISIS, A BIG ADVANCE FROM THE RECENT IMPASSE. BODY: ??California's effort to resolve its energy crisis now is headed down two radically different tracks, one through the U.S. Bankruptcy Court and the other via the state regulatory and political process. Since each route leads into unknown territory, no one knows how this is going to come out, but the divergence itself has potential benefits. State political leaders and other Californians will be able to weigh each approach as Pacific Gas & Electric's case progresses through federal court and Southern California Edison's winds through the Legislature and the state Public Utilities Commission. ??In the wake of PG&E's bankruptcy filing Friday, Gov. Gray Davis announced that accelerated negotiations with Southern California Edison had produced an agreement to help the firm out of debt with a state purchase of Edison's electricity transmission grid for $ 2.76 billion. ??There are also potential benefits in Edison's decision to deal with the state rather than go into bankruptcy. Some are spelled out in a 36-page memorandum of understanding reached with Davis. A major provision is that Edison must sell all of its power generation to the state for the next 10 years at cost, a figure to be determined by the PUC. This amounts to about 40% of the power that Edison supplies to its service area, which covers Southern California except for the San Diego region and the cities of Los Angeles, Pasadena, Glendale and Anaheim. ??One troubling question is whether it still makes sense for the state to buy Edison's share of the state power transmission grid in the absence of a similar deal with PG&E. Davis insists that even with a portion of the grid, the state will be able to expand it and make it more reliable, and therefore he is continuing negotiations with San Diego Gas & Electric for its portion. This is an issue the Legislature needs to explore, along with whether any additional rate hikes are necessary--Davis says they are not--and how much Edison's parent firm should be required to contribute to the deal. What Davis agreed to may be good for Edison, but is it too good? ??The Edison agreement won support from the investment firm Goldman Sachs, which suggested it serve as a pattern for a quick restructuring of PG&E--something the Bankruptcy Court would probably have the power to do. PG&E has summarily rejected additional talks with the state, but Bankruptcy Judge Dennis Montali should examine the Edison deal carefully for elements that might be of value in the PG&E case. ??The damage done over many months--to the utilities' financial health, to the state's coffers and credibility, to consumer confidence--cannot be repaired overnight. It will take months for electricity rate hikes to start denting the utilities' debts, for the state's financial drain to be added up and for the prospects of repayment to be clear. It is also possible that the crisis has not hit bottom yet, and that a vicious brew of summer heat, unregulated price spikes and electricity shortages will deal the state a knockout blow. Even so, forward motion toward solutions is now visible. It is an improvement over the opaque muddle that existed even a week ago. ??* ??For more information: The Edison agreement is on the Internet at www.governor.ca.gov. Click on "Issues," then "Energy" and "All latest actions." LOAD-DATE: April 11, 2001 ?????????????????????????????13 of 100 DOCUMENTS ??????????????????????Copyright 2001 / Los Angeles Times ??????????????????????????????Los Angeles Times ???????????????????April 11, 2001, Wednesday, Home Edition SECTION: Metro; Part B; Page 8; Letters Desk LENGTH: 453 words HEADLINE: LEADERSHIP IN POWER CRISIS BODY: ??* Michael J. Aguirre's "Use Eminent Domain as a Power Tool" (Commentary, April 9), on the lack of leadership shown in the current power crisis by Gov. Gray Davis and the Legislature, reflects the feelings of the silent majority in California. We need to have our government literally take back the power supplies for Californians. ??Why do we call these modern robber barons (PG&E and Edison) public utilities, when in reality they are private money-grabbing companies? The concept of a public utility and the associated tax breaks that go with it was designed to protect the public good. ??We need a governor and Legislature like Teddy Roosevelt, who become irate, stand up and slug it out with the robber utilities. It is time for the government to use the power of eminent domain. If our politicians lack the guts, we need to exercise our right of political recalls to protect the public interest and guarantee the new political slogan "power for the people." ??ROBERT BEALL ??Long Beach ??* ??I wonder where these "intermediary" companies that are charging PG&E, Southern California Edison and San Diego Gas & Electric such outrageous prices are in the governor's negotiations. Someone obviously has made a tidy profit from the deregulation in 1996. Who is protecting them? Surely we all have our hindsight opinions and see the pitfalls of the decisions that were made in the past decade. Population growth, no new power plants, deregulation . . . hmm. ??I am confident that there are enough politicians and clever business school geniuses who can get us back on track. But let's look at the whole picture and involve all parties in planning. Before our state government is in the throes of "electrical bankruptcy," I would invite the 1996 legislators and the intermediary power brokers (yes, that pun is intentional). There's enough room at the governor's table. ??MARY CRICHTON LEAVER ??Orange ??* ??Re Paul Conrad's depiction of the power problem, "How many companies does it take to unscrew a light bulb?" (Commentary, April 9): When will he ever get the facts straight? It is not the utilities that are at fault, but the uncontrolled power providers that caused PG&E, Edison and SDG&E to be on the verge of bankruptcy. ??RON BRANT ??Los Angeles ??* ??If Gov. Davis wants to create a significant reduction in California's energy consumption, he should implement a 35-hour workweek for all state government employees and urge all California employers to do the same. If every office building in the state powered up at 8 a.m. or 8:30 a.m. instead of 7:30 a.m., the savings would be tremendous. American workers put in the longest working hours in the industrialized world. ??JOSEPH FUCHS ??Altadena LOAD-DATE: April 11, 2001 ?????????????????????????????14 of 100 DOCUMENTS ??????????????Copyright 2001 Knight Ridder/Tribune Business News ?????????????????????Copyright 2001 Monterey County Herald ????????????????????????????Monterey County Herald ??????????????????????????April 11, 2001, Wednesday KR-ACC-NO: MN-CONSERVE-ENERGY LENGTH: 612 words HEADLINE: California Lawmakers Demand More Energy Efficiency from Businesses BYLINE: By Sylvia Moore BODY: ??California is the nation's most energy-efficient state, but state lawmakers want businesses to conserve even more. ??Saving electricity is the point of an executive order issued by Gov. Gray Davis in February that requires California businesses to substantially reduce outdoor lighting during non-business hours. ??To make sure that all businesses in Monterey County get the message, representatives from the California Technology, Trade and Commerce Agency (TTCA) joined with local law enforcement and the Kmart Corp. on Tuesday at a news conference inside the Seaside Kmart. ??The governor's order went into effect Mar. 15, as a reaction to the state's current energy crisis and will continue to be law for the foreseeable future. ??The conference was part of an outreach effort that will include handing out informational pamphlets to businessowners. ??"This is a voluntary outreach educational effort," said TTCA Secretary Lon Hatayama. "We would like for businesses to conserve on their own." Hatayama praised Kmart Corp. as one of the businesses leading the way to energy conservation -- thanks to a $ 2 million grant from the state. ??The state is asking businesses to reduce energy consumption from outdoor lighting by 50 percent or more, but not so much that it endangers the safety of the public, employees and property. Businesses are also required to shut off lighting primarily used for decorative or marketing functions when closed. As a last resort, businesses that fail to work with law enforcement and voluntarily comply with the law may face a $ 1,000 fine. ??"We don't expect (police) officers to be counting light bulbs," said Hatayama. "We do not want to jeopardize safety -- only ensure that the reduction is reasonable." ??Hatayama said the goal is for California businesses to reduce overall energy consumption by 3,700 megawatts during peak periods, and by 10 percent over the summer. ??Both Seaside Community Liaison Officer Barry Pasquarosa and Monterey County Sheriff Lt. Mike Derbyshire said local businesses have reacted positively to the call to conserve. ??"The voluntary compliance has been remarkable," said Derbyshire. ??Hatayama added that the tremendous reduction his agency has seen among Monterey County businesses, including those once brightly-lit auto malls, has not reduced sales. ??Kmart Corp.'s divisional energy manager, Adel Suleiman, thanked Davis and the California Energy Commission for granting the company $ 2 million to reduce energy emissions in 85 of its California stores. As a result, Suleiman said, Kmart is currently retrofitting existing outdoor light fixtures at these stores with energy-efficient bulbs. So far, the company has been able to reduce indoor lighting at its stores by 40 percent and outdoor lighting by more than 50 percent. ??"We are committed to (saving) 8.2 megawatts by summer and 12 megawatts by the end of the year," Suleiman said, adding that the savings are equal to the energy needed to power 10,000 homes. ??Suleiman also pointed out the number of energy efficient products Kmart offers to customers, including compact florescent bulbs, weatherstripping and ceiling fans. The items cost a bit more, he said, but they are well worth the savings consumers will eventually see in their electric bills. ??"These innovative programs by the state and the Department of Energy Conservation have made Kmart proud to be in California," said Suleiman. "We realize the challenge that California faces, and Kmart is doing its part to conserve." ??----- ??To see more of the Monterey County Herald, or to subscribe to the newspaper, go to http://www.montereyherald.com. JOURNAL-CODE: MN LOAD-DATE: April 11, 2001 ?????????????????????????????15 of 100 DOCUMENTS ?????????????????Copyright 2001 The Chronicle Publishing Co. ?????????????????????????The San Francisco Chronicle ???????????????????APRIL 11, 2001, WEDNESDAY, FINAL EDITION SECTION: NEWS; Pg. A12 LENGTH: 1087 words HEADLINE: NEWS ANALYSIS; Different Ways Of Coping for PG&E, Edison; It may take years to determine if bailout or bankruptcy was wisest SOURCE: Chronicle Staff Writer BYLINE: David Lazarus BODY: This much at least is sure: Either Pacific Gas and Electric Co. or Southern California Edison is very, very clever. ???PG&E, which filed for bankruptcy protection last Friday, believes the best way for it to return to financial health is by throwing itself on the mercy of the court ???and plodding through months or ???years of contentious litigation. ???Edison, meanwhile, agreed Monday to a sweeping bailout accord with Gov. Gray Davis that, if given final approval, would instantly restore the utility to creditworthiness but force it to sell off valuable assets and commit to bargain-basement power contracts. ???"One has a deal and the other doesn't, so today it looks like Edison made the right choice," said Michael Worms, an energy-industry analyst at Gerard Klauer Mattison in New York. ???"But we won't really know for sure until PG&E's bankruptcy thing plays out," he said. "It could be that they did this correctly." ???If nothing else, both PG&E and Edison are convinced that they have chosen wisely. ???"A negotiated, practical, comprehensive resolution is far preferable to bankruptcy," said John Bryson, chairman of Edison International, parent of the Southern California utility. ???That's fine for Edison, "given its set of facts," PG&E said in a brief statement. "Given our set of facts, we continue to believe that a Chapter 11 reorganization is the most feasible means to reach a solution." ???Analysts said two factors played pivotal roles in each company's decision: money and culture. ???While both utilities hope to recover past costs for wholesale power, PG&E says it is owed $9 billion, while Edison's debt is only about half that. ???"PG&E concluded that because they're owed so much more money than Edison, they had a better chance in Bankruptcy Court," said Brian Youngberg, an analyst at brokerage Edward Jones in St. Louis. ???Culturally, analysts said, PG&E prides itself on nearly 100 years of providing electricity and gas to Northern Californians. Therefore, selling off its transmission lines would have been a blow to the company's core identity. ???Edison, for its part, is seen as a less enthusiastic player in the utility business, and its parent company had few qualms about shedding assets. ???Aside from its utility, Edison International owns power plants and, through its Edison Capital subsidiary, is involved in various investment projects. ???As California's two largest utilities pursue opposite paths to profitability, consumers have been left scratching their heads over how this will affect both the state's energy crisis and future electricity bills. ???A summer of power shortages remains virtually a sure thing. Higher electricity rates are almost certain as well. ???"At the end of the day, California consumers have gotten a raw deal," said Dan Jacobson, a spokesman for the California Public Interest Research Group in Sacramento. ???Edison customers already know a rate hike is in the works; they will pay a special charge on their bills to help cover the state's bailout agreement. ???PG&E customers must wait to see whether the bankruptcy judge will seek to pass along the utility's multibillion-dollar debt to ratepayers -- a decision that could take years to reach. ???Yet whether through bankruptcy or bailout, Jacobson said PG&E and Edison face no choice but to raise rates as the state continues to pay sky-high wholesale prices for electricity. ???Assembly Speaker Robert Hertzberg estimated yesterday that California will spend about $65 billion this year buying power, compared with just $5 billion last year. ???To cover this huge increase, "the whole state is going to see higher rates," Jacobson warned. ???Which leads to the question of the hour: As power costs soar, is the governor buying a pig in a poke with his quest to purchase the transmission lines of all three California utilities? ???Public ownership of the power grid would do little if anything to reduce electricity costs. If anything, it would place taxpayers or ratepayers -- or both -- on the hook for billions of dollars in repairs and upgrades to the system. ???Yet Davis is depicting public ownership of the power lines as a necessary step toward solving California's myriad energy problems. ???While the Edison deal awaits final approval from state regulators and the Legislature, Davis already has entered into talks with Sempra Energy on acquiring the power lines of its San Diego utility. ???"We've stabilized one of the utilities and are negotiating with another one," said Steve Maviglio, a spokesman for the governor. "This puts us in a strong position to buy the rest." ???In Edison's case, the lines will be leased back to the utility for a nominal fee. ???Maviglio said the state will file a petition with Bankruptcy Judge Dennis Montali informing him of California's interest in purchasing PG&E's transmission network, should Montali begin selling the utility's assets to pay off creditors. ???"Since it's one of their largest assets, we think it's a likely candidate," Maviglio said. ???But even if Davis succeeds in acquiring the thousands of miles of power lines of all three utilities, what then? ???"There is a notion that the state will control a government-owned power grid and somehow we will all be better off," said Harry Snyder, senior advocate at Consumers Union in San Francisco. ???However, he said the power lines may end up being little more than "a hard asset that makes it look like we weren't just giving cash away for nothing." ???Actually, there may be some upside to ownership of the transmission lines. For one thing, this could give California more clout in its dealings with power generators. ???The state theoretically could argue that if generators want their juice shipped to ratepayers' homes, they must charge more reasonable prices. ???On the other hand, generators could just as easily say that if California wants electricity for its newly purchased lines, and thus raise money in transmission fees, it should mind how it deals with its new business partners. ???Meanwhile, as the owner of power lines, California would have an easier time getting its voice heard by the Federal Energy Regulatory Commission, with oversees transmission systems nationwide. ???To date, California's entreaties to FERC for regional caps on wholesale power prices have fallen on deaf ears. Owning power lines would not necessarily make FERC more attentive to the state's interests, but it would raise California's profile. E-mail David Lazarus at [email protected]. LOAD-DATE: April 11, 2001 ?????????????????????????????16 of 100 DOCUMENTS ?????????????????Copyright 2001 The Chronicle Publishing Co. ?????????????????????????The San Francisco Chronicle ???????????????????APRIL 11, 2001, WEDNESDAY, FINAL EDITION SECTION: NEWS; Pg. A1 LENGTH: 1040 words HEADLINE: State Legislators Take Argument For Electricity Rate Cap to Feds SOURCE: Chronicle Staff Writer BYLINE: Lynda Gledhill BODY: Taking off before dawn, a delegation of California lawmakers yesterday winged its way to a stark airport hotel here and pleaded for federal regulators to intervene in the state's dysfunctional energy market. ???The lawmakers had arranged just the day before to attend a meeting of the Federal Energy Regulatory Commission, signaling just how desperate they are to gain an upper hand in California's energy crisis. ???FERC, as the body is known, has become a four-letter word among many California politicians. The panel's steadfast refusal to embrace wholesale price controls on electricity has left everyone from the governor to the state's congressional delegation fuming -- although one commissioner appeared yesterday to soften her opposition to the idea. ???After just four hours of sleep before the last-minute trip, Assembly Speaker Robert Hertzberg, D-Sherman Oaks, was in no mood to be confrontational. ???He figured that since FERC-bashing had gained little, the state might be better off showing what it had done to try to solve its own problem. ???"We didn't want to go and be Khrushchev banging his shoe on the table," he said. "We are telling FERC we're in this together. We have a role, and you have a role." ???So Hertzberg opened his five-minute remarks by acknowledging that California had created some of its own problems. But he pleaded with the three commissioners to pay attention to what was happening in the Golden State. ???'ECONOMIC PRECIPICE' ???"California is poised on the edge of an economic precipice that threatens not only our economy, but the economy of the entire country," Hertzberg said, adding that the state anticipated paying $65 billion for electricity this year, almost 10 times its power bill in 1999. ???Two of the three board members seemed to hear the request. Commissioner William Massey has long been an advocate for increased FERC intervention. And Linda Breathitt, the third sitting commissioner, appeared to further soften her reluctance to impose price controls yesterday. ???"I have increasing concerns about what the summer holds," she said. "We must find a way to calm the troubled market if a competitive market is ever going to become a reality." ???But FERC Chairman Curt Hebert is the man standing squarely in the way of California's requests. As the head of the board, he has complete control over its agenda. ???California and other states believe price controls are essential for getting through the summer, while Montana, Arizona and other states believe caps would suppress supply and make the situation worse. ???Hebert believes in free markets, and as an appointee of President Bush, concurs with Bush's belief that price caps would do nothing to help and would perhaps make the situation even worse. ???THE NAYS HAVE IT ???"We've continued to have an open mind," Herbert said in a deep Texan drawl, even as he shook his head. "If you look at the landscape here, there are a number of commissioners and states that seem to be averse to any type of price cap -- it seems to outweigh those that want a price cap." ???At times, he accused California of dragging its feet and not doing enough to deserve special attention from FERC. But the two other commissioners were quick to defend the state. ???California's Assembly members went to the six-hour meeting with a proposal: "cost-base" price caps for 18 months on natural gas and electricity prices. The idea would be for the price to be capped at cost to generate the power, plus a reasonable rate of return. ???Fred Keeley, D-Boulder Creek, the Assembly's point man on the energy crisis, said, "We're pleading with FERC. ???"I don't think we're splitting hairs," Keeley said. "The cost-base price cap allows generators to make a profit while bringing stability to the market." ???But most representatives from other states passionately disagreed. ???"A FERC policy could have glorious intentions and disastrous consequences," said Nevada Public Utilities Commissioner Richard McIntire. "FERC must resist pressure to institute price caps." ???But Keeley said if the federal government did not take action, the state would have to do what it could to control the wholesale prices. ???While there has been talk in Sacramento of taking over power plants, Keeley said the more logical step would be to take over power contracts. The state could step in and take over the power before it is sold to the marketer, thus preventing huge artificial mark-ups, Keeley said. ???Assemblyman Anthony Pescetti, R-Rancho Cordova, said, however, "I have concerns about seizing anything." ???Meanwhile in Sacramento, three GOP members of Congress grilled representatives of FERC, the Public Utilities Commission and the Independent System Operator about their roles in the state's energy mess. ???Yesterday's politically tinged hearing was the first of three meetings the House Government Reform Committee will hold around the state this week. Hebert will appear at a hearing in San Jose today. ???Much of the committee's questioning fell on PUC President Loretta Lynch, who was appointed to the post by Gov. Gray Davis. ???The GOP lawmakers accused Lynch of worsening the crisis by dragging her feet on giving utilities the power to enter long-term contracts and thus avert more costly spot-market buying. ???She replied that the PUC had granted the utilities' request to enter into long-term contracts within two weeks. ???Lynch blamed FERC's lifting wholesale price caps for the astronomic rise in electricity prices. ??---------------------------------------------------------------------------- ???What's Next ???-- The House Government Reform Committee plans energy hearings today in San Jose and tomorrow in San Diego. ???-- Edison and PG&E are expected to file their 2000 earnings reports April 17. ???-- The state Senate starts hearings April 18 in its inquiry into allegations that electricity suppliers illegally withheld power to drive up California's wholesale prices. Wholesalers deny such accusations. ???-- Also April 18, the Assembly plans to resume hearings in its inquiry into California's highest-in-the-nation natural gas prices. ??Chronicle staff writer Greg Lucas contributed to this story. / E-mail Lynda Gledhill at [email protected]. LOAD-DATE: April 11, 2001 ?????????????????????????????18 of 100 DOCUMENTS ??????????????????????Copyright 2001 The Washington Post ?????????????????????????????The Washington Post ???????????????????April 11, 2001, Wednesday, Final Edition SECTION: METRO; Pg. B01 LENGTH: 1067 words HEADLINE: Gas Plant's Proposal Alarms Neighbors in Calvert; Owner Pushes to Reactivate Facility BYLINE: Raymond McCaffrey, Washington Post Staff Writer BODY: ???The predicament they're facing has become ordinary in the outer reaches of the Washington area: a major construction project planned for the neighborhood. ???Their concerns are anything but. ???Terrorist attacks. Nuclear meltdowns. Environmental disaster. ???That's what residents in southern Calvert County fear could happen if a Tulsa-based company is allowed to go ahead with a $ 120 million project to reactivate and refurbish a liquefied natural gas storage and importation facility at Cove Point. ???At a recent public meeting hosted by the Federal Energy Regulatory Commission, which will decide the fate of the Williams Co. proposal, neighbors worried aloud about the potential for a disaster -- accidental or intentional -- either at the facility or involving one of the large tankers that would deliver imported fuel via the Chesapeake Bay. ???But their biggest fear is the effect that such a disaster would have on another facility that stands just a few miles away -- the Calvert Cliffs Nuclear Power Plant. ???"What happens if the plant goes sky-high and a lot of us go with it?" resident Mary Robinson asked federal officials at the meeting. ???In a letter to federal regulators, resident Norman Overfield urged them to consider the ramifications of a terrorist act. "It would seem that it would only require a source of ignition to transform an accidental discharge into a large firestorm," Overfield wrote. "Consider the possible consequences of a deliberate attack on a ship at the terminal similar to the attack on the USS Cole in Aden," he continued, referring to the suicide bombing of a U.S. destroyer in Yemen in 1999. ???The concerns of the residents are similar to those expressed by residents in Montgomery and Frederick counties who live near sites where companies have proposed new or expanded facilities to meet the nation's growing energy needs -- which have been highlighted by the California electricity crisis. ???Demand for energy is behind the proposal by Williams, which asked the federal commission to approve its plan by September so it can begin importing liquefied natural gas in April 2002 to an offshore pier near the Cove Point installation plant. The gas would then be piped in vapor form for 87 miles, from Calvert through Prince George's, Charles, Fairfax and Loudoun counties. Utilities would buy the gas and resell it to businesses and individuals. Utilities could also use the gas to generate electricity. ???"It gives you a new source of supply to meet the growing demand for gas and also for electricity," said Joe Fields, a Williams official who is involved with the Cove Point project. ???The Cove Point plant was built in 1974, and its former owners, the Columbia and Consolidated Natural Gas companies, operated a liquefied natural gas terminal and related pipeline facilities. In 1979, a gas explosion at the plant killed one employee and injured another. ???The importation operation ended in December 1980 because of falling domestic natural gas prices and a dispute with exporters from Algeria, the main source of the product, according to Williams officials. The onshore facilities reopened in 1994 to provide a natural gas storage service. ???Williams bought the plant in June and wants permission to reactivate the offshore facility and build a fifth storage tank with a capacity of 2.5 billion cubic feet. The four existing storage tanks are twice as large. ???The pier, which is about 1 1/4 miles offshore and connected to the plant by an underwater tunnel, will be refurbished to handle tankers that typically are about 1,000 feet long and 150 feet wide, according to a county official. ???Vouching for the plant's safety, Fields maintained that many of the residents' fears were "concerns you heard when the facility opened" in the 1970s. ???"Safety is Williams' and Cove Point's primary concern," he said. ???The Energy Regulatory Commission and the Department of Transportation "have safety guidelines," Fields said. "We build to either meet or exceed those guidelines." ???The company has received the endorsement of the Calvert County Board of Commissioners, which is eyeing the up to $ 2 million in annual tax revenue that the refurbished plant would generate. Commissioners are desperately looking for money to build schools and pay for other services in Calvert, where the population has jumped 45 percent over the last decade. Critics say that's the very reason federal regulators need to give the plan a hard look. ???Those voicing concerns are not just neighbors of the plant. The list of official interveners in the federal review includes the Maryland Department of Natural Resources, which wants time to assess the plan. While the department does not oppose the project, it is against a request by Williams that the federal commission expedite the review, said Richard McLean, a department manager of nuclear programs. ???McLean has maintained that an expedited review would not allow enough time to assess concerns such as the effect of the tankers on the Chesapeake Bay or potential risks the renewed operation might pose to nearby Calvert Cliffs, which won relicensing from the U.S. Nuclear Regulatory Commission last year. ???A three-decade-old environmental assessment is not valid today, McLean said, referring to the last time such issues were fully examined for the gas plant. ???Not only has Calvert's population nearly doubled since then, but operations have expanded at the Patuxent River Naval Air Station in nearby St. Mary's County, he said. Commercial and recreational boat traffic on the Chesapeake Bay have increased, too, McLean said. ???"There's no question in my mind that we want to revisit our prior risk assessment," he added. "The risk assessment is risk for the communities, risk for the Patuxent River Naval Air Station, which has a whole lot more people than before . . . and there is some concern that this could potentially compromise commercial freight traffic on the bay." ???Federal regulators have said that the commission has not decided whether to expedite the review. Regardless, they said, an extensive risk-assessment study would be conducted and available for public review. ???Yet some expressed concern that the growing need for fuel will force the government to speed up the review. ???"You can't compromise a process because somebody says we need this," McLean said. LOAD-DATE: April 11, 2001 ?????????????????????????????19 of 100 DOCUMENTS ?????????????????????????????The Associated Press The materials in the AP file were compiled by The Associated Press. ?These materials may not be republished without the express written consent of The Associated Press. ?????????????????????April 11, 2001, Wednesday, BC cycle ?????????????????????????????9:19 AM Eastern Time SECTION: Business News LENGTH: 381 words HEADLINE: Report: Government utilities allegedly gouged California during power crisis DATELINE: LOS ANGELES BODY: ??Private power wholesalers have been blamed for driving up California's electricity prices but even government-owned utilities allegedly manipulated the market, maximizing profits and inflaming the energy crisis, according to a confidential document obtained by the Los Angeles Times. ??The document shows that the power providers, including the Los Angeles Department of Water and Power, influenced the spiraling costs of wholesale electricity between May and November 2000. ??The DWP was eighth on the list of alleged price gougers for seeking high prices during periods of high demand, which helped inflate costs across the entire spot market, the document said. ??The document decodes the identities of unnamed power providers in a recent study by the California Independent System Operator. CISO examined thousands of hours of bidding practices for 20 large electricity providers. ??DWP General Manager S. David Freeman called the findings "outrageous." ??"We have consistently charged (CISO) our cost plus 15 percent," Freeman said. "It's not as though we're up there peddling a bunch of power to jam it down their throats." ??In addition to the DWP, the document singles out two other government-run agencies that it said consistently inflated prices: the federally owned Bonneville Power Administration in the Pacific Northwest, and the trading arm of Canada's BC Hydro in British Columbia. ??BC Hydro reaped the most in what the state's power-grid operator deemed "excess profits." The Canadian agency took in $176 million, several times the amount of allegedly excessive earnings collected by all but one private generator. Second on the list was Atlanta-based Mirant which collected nearly $ 97 million. ??The companies cited said they broke no state rules and abided by California's 1996 deregulation law, the Times reported Wednesday. ??BC Hydro officials acknowledged, however, that they anticipated periods of severe power shortages and let their reservoirs fill with water overnight, then opened them to produce cheap hydroelectric power to sell at a premium. ??"It was the marketplace that determined what the price of electricity would be at any given time," BC Hydro spokesman Wayne Cousins told the Times. "We helped keep the lights on in California." LOAD-DATE: April 11, 2001 ?????????????????????????????20 of 100 DOCUMENTS ?????????????????????????????The Associated Press The materials in the AP file were compiled by The Associated Press. ?These materials may not be republished without the express written consent of The Associated Press. ?????????????????????April 11, 2001, Wednesday, BC cycle ?????????????????????????????3:46 AM Eastern Time SECTION: Business News LENGTH: 841 words HEADLINE: States say federal government needs to act to stem energy crisis BYLINE: By H. JOSEF HEBERT, Associated Press Writer DATELINE: BOISE, Idaho BODY: ??A six-hour brainstorming session between federal and state energy regulators ended with a clear message: Western states want more help from Washington to corral the region's deepening power crisis. ??The three members of the Federal Energy Regulatory Commission flew to Idaho for what Chairman Curtis Hebert called "frank discussions" with officials from 11 Western states about the astronomical electricity prices that have spread from California to almost every corner of the region. ??And the Washington regulators got an earful. ??"Montana is taking a hell of a hit because of this market," declared Gary Feland, whose job it is to approve requests by the state's utilities to pass wholesale price increases on to their retail customers. ??"Politically we're getting beat up," added Feland. ??In many states, retail electricity sales are still regulated, but wholesale markets are not. The state officials warned that many of the electricity rate increases, stemming from wholesale price run-ups, have yet to reach consumers, but will in the coming months as states have no choice but to approve them. ??Much of the discussion focused on whether FERC, which regulates the wholesale power market, should temporarily impose price controls to ease the impact of what one of the commissioners, William Massey, called "a looming disaster" this summer if nothing more is done. ??Afterward, Hebert tallied up the results: Five states opposed such controls, three wanted them desperately and three others were not sure. Previously, the latter three had lined up in the "no" column. ??Hebert has made clear his opposition to renewed price regulation - even temporarily to address an emergency - because he argues that a free market is the only way to get people to build more power plants and transmission lines and create the "price signal" to foster conservation. ??His position drew support from Vice President Dick Cheney in a telephone interview with the Associated Press in Olympia, Wash. ??"The problem with price caps is that they don't solve the problem," said Cheney. "Just look at California, where they had caps applied at the retail level that, coupled with the requirement to buy power on the spot market, has driven PG&E into bankruptcy." ??Pacific Gas & Electric, California's largest utility, said last week it had debts of $9 billion and filed for Chapter 11 bankruptcy protection. ??Like the state officials, FERC is deeply split on the issue of price controls. ??"It is wrong to put the entire Western economy in harm's way solely to protect a price signal arising from a dysfunctional market," Massey said. "Our passion for the market must be tempered with commonsense." ??A contingent from California submitted a proposal calling for cost-based price caps for 18 months on wholesale electricity and natural gas sales across the West. Only FERC can impose such caps. ??"We have done our part. We cannot do it alone," Bob Herzberg, speaker of California's Assembly, told the three FERC commissioners. The Californians listed the state's response to its power problems so far: Actions to boost conservation, increase retails electricity rates and speed up power plant construction. Still, they bemoaned that California this year was expected to spend $65 billion on electricity, nearly 10 times its power bill in 1999. ??Hebert insisted that the FERC "is doing everything it can" to ensure just and reasonable prices and cited the commission's action to seek $124 million in refunds on California power sales. He also said the commission plans soon to approve a new system of tracking market abuses. ??Officials from Washington state and Oregon joined California in the plea for temporary price regulation. The Northwest has been hit by a severe drought, making less hydro-generated electricity available and forcing greater reliance on the high-priced spot market. On Monday the Bonneville Power Authority said it may have to nearly triple what it charges for its power if demand doesn't drop sharply and reduce the need of spot market purchases. ??But in a surprising development, Wyoming, Utah and New Mexico said they no longer were sure that price controls would be such a bad thing. And even those opposed to price caps, like Montana's Feland, criticized FERC for not being more aggressive in challenging prices - many of them now 10 times what they were a year ago - as unreasonable. ??"In the real world, in the world of the West, the ideal market doesn't exist," Marilyn Showalter, a Washington state utility regulator said. She disputed the contention that price caps would discourage investment, arguing that the uncertainties brought to soaring prices already were doing that. ??"The lack of action (from FERC) is threatening to undermine the commission's own credibility" and eroding political confidence in electricity deregulation and competition, she said. ??Associated Press Writer David Ammons in Olympia, Wash., contributed to this report. LOAD-DATE: April 11, 2001 ?????????????????????????????21 of 100 DOCUMENTS ???????????????????The Associated Press State & Local Wire The materials in the AP file were compiled by The Associated Press. ?These materials may not be republished without the express written consent of The Associated Press. ?????????????????????April 11, 2001, Wednesday, BC cycle ?????????????????????????????2:19 AM Eastern Time SECTION: State and Regional LENGTH: 966 words HEADLINE: Cheney urges patience for Bush's energy approach BYLINE: By DAVID AMMONS, AP Political Writer DATELINE: OLYMPIA, Wash. BODY: ??Vice President Dick Cheney is urging fellow westerners to give the Bush administration more time before judging its record on energy and the environment. ??Cheney, in a telephone interview with The Associated Press from the White House, said the administration is barely under way, but over time it will become clear that President Bush has a balanced and smart view on the environment and will help the nation weather the short-term energy crunch. ??Cheney was responding to criticism from western Democrats, including Washington Gov. Gary Locke and Rep. Jay Inslee, D-Wash., who gave the two most recent Democratic responses to Bush's weekly radio addresses. ??Locke accused Bush of pushing policies that will harm the environment, specifically mentioning the recent decision to roll back regulations limiting the amount of arsenic in drinking water. Inslee said the administration offers only "excuses and inaction" on the West's deepening energy woes. ??Cheney, who heads Bush's energy task force, defended the administration's strong opposition to energy price caps, which all three West Coast Democratic governors have advocated. ??"The problem with price caps is that they don't solve the problem - just look at California where they had caps applied at the retail level that, coupled with the requirement to buy power on the spot market, has driven PG&E (Pacific Gas & Electric) into bankruptcy," he said Tuesday. ??California's energy deregulation has price caps for customers, but not wholesalers. ??"To say the solution is price caps shows that they haven't spent much time studying the problem," Cheney said. "Caps provide some short-term political relief to the politicians, but (are) no long-term answer." ??Conservation, permit streamlining and more power production are what the West needs, he said. ??Much of the region faces a drought, with snowpack only half the normal level, he noted. ??"We will have to find ways to do everything we can to conserve, to only use the power we absolutely have to have," he said. ??Beyond that, "The main thing is to try to build our long-term generating capacity if we can get beyond the next year or two." ??Locke stood by his earlier criticism of the White House. ??"We hear a great deal of talk about drilling and digging and burning, but not a great deal of talk about renewable sources of energy," said Dana Middleton, the governor's communications director. ??Temporary price caps are essential, she said. ??"People need relief right this minute," she said. "Temporary limits can stabilize the market and allow all the western states to put their plans into effect, to let everyone get their houses in order, especially California. ??"We're just asking for a little assistance so we can catch our breath and our companies can start to build more generating capacity." ??Middleton said the administration's new budget cuts conservation programs, "So what is Mr. Cheney talking about?" ??Locke took part in groundbreaking for a 248-megawatt power plant about 30 miles south of the Capitol on Tuesday. ??Cheney denied Inslee's contention that the White House has refused to meet on the energy problem. "That is fundamentally not true," he said. ??Inslee later shot back that two dozen members of Congress have been repeatedly denied a joint meeting with Cheney to press their support for price caps. ??"This is a hornet's nest that needs to be stirred," Inslee said in an interview. "What I am trying to get this administration to understand is that this is the beginning of the energy crisis, not the end. They see it as some sort of 45-day problem and it's over. ??"They hope some sort of weather fairy will take care of it. They feel they can draw a wall around California and let it sink into the Pacific Ocean. The administration does not understand the depth of this crisis, nor do they understand the potential of it spreading to the entire nation. Alan Greenspan is saying that the energy shocks are affecting consumer confidence." ??Cheney said environmental groups are jumping to an ill-founded conclusion that Bush will be an enemy. ??"I think we will be perceived as having a balanced approach over time," he said. "These tend to be emotional issues and people get buzzed up in short order." ??Environmental groups should take a deep breath, he said. ??"I don't want to discourage people's expression of what they believe, but we are in the early stages of the administration and the president and I both love the land. We are both westerners and care a lot about the environment and I would hope people would give us the time to prove ourselves, to show our commitment to pass the Earth along in better shape than we got it." ??Criticism "just goes with the territory," he said. ??He said the White House hasn't decided whether the Bonneville Power Administration can take as much as $500 million in credits from the U.S. Treasury this year. ??The so-called "fish credits" are for costs unrelated to BPA's generation of hydroelectric power, including salmon restoration, irrigation and recreation. ??The credits could be used to offset this year's BPA payment to the government. BPA owes between $750 million and $800 million as repayment of federal investments in the massive system that serves the West. ??"That was suggested to us, but we haven't made a decision," the vice president said. ??Cheney said the stalemate over China's holding of the crew of the U.S. Navy reconnaissance plane, home-based in Washington state, is taking a lot of his time, but that he's also spending plenty of time working on energy, the budget, tax relief and other issues. ??He said his health is fine, and that he appreciates people asking. ??"I can't go to the grocery store without people coming up and asking how I am." LOAD-DATE: April 11, 2001 ?????????????????????????????25 of 100 DOCUMENTS ??????????????????Copyright 2001 Financial Times Information ?????????????????????????????All rights reserved ???????????????????????????????Global News Wire ????????????????????????Abstracted from ABC in Spanish ?????????????????????????????????????ABC ????????????????????????????????April 10, 2001 SECTION: Pg. 48 LENGTH: 172 words HEADLINE: SPANISH GOVERNMENT PREPARES NEW SET OF ELECTRICITY TARIFFS TO AVOID " CALIFORNIA EXPERIENCE" (EL GOBIERNO PRAPARA UN NUEVO MODELO DE TARIFAS ELECTRICAS PARA EVITAR LA "EXPERIENCIA CALIFORNIA") BODY: ??The Spanish economy ministry is preparing a decree law to regulate electricity sector tariffs in light of the deregulation of the sector. The new tariff model has been devised to prevent a repeat of the current situation in California, where the electricity sector is in crisis. ?From 1 January 2003 all consumers in Spain will be eligible to choose their own electricity supplier. The new tariffs will be set according to three criteria, namely the recovery of costs to provide network access, the efficient allocation of costs amongst different suppliers and the adoption of maximum and standard tariffs throughout Spain. The measures hope to ensure that distribution and transport companies can guarantee electricity supplies. ??In California a number of electricity distributors now face bankruptcy, having been forced to freeze tariffs whilst electricity prices soared. One of the means by which the Spanish government intends to prevent the situation from occurring in Spain is to invest in diversified energy sources. JOURNAL-CODE: WABC LOAD-DATE: April 10, 2001 ???????????????????????Copyright 2001 Associated Press ??????????????????????????????????AP Online ???????????????????????????April 10, 2001; Tuesday SECTION: Domestic, non-Washington, general news item LENGTH: 704 words HEADLINE: ?Fed Agency To Discuss Power Demands BYLINE: H. JOSEF HEBERT DATELINE: BOISE, Idaho BODY: ???A federal energy agency, under fire for not being more aggressive in dealing with the Western electricity shortages and high prices, was meeting Tuesday with officials from 11 Western states to discuss ways to contain the problem this summer. ??The unusual meeting called by the Federal Energy Regulatory Commission comes as a California utility decided to sell its transmission lines to avoid bankruptcy and officials in the Northwest predicted a tripling of electricity rates unless power demand is cut sharply in the coming months. ??The FERC, which regulates wholesale electricity sales, asked state utility regulators from the 11 states in the Western power grid to discuss ways that the federal agency might help in easing the power crunch as the heavy summer demand periods are about to begin. ??But the three commissioners are likely to get some sharp comments from some of the participants over the agency's refusal to consider price caps on wholesale power transactions and why it hasn't been more aggressive in demanding refunds on sales this winter. ??FERC Chairman Curtis Hebert, a strong free market advocate, has argued that price controls will hinder investment in new power plants and send the wrong ''price signal'' to both investors and consumers who need to conserve energy. ??''Price caps are unworkable, unreliable and not a solution,'' contends Hebert, a Republican whose approach generally reflects the views of President Bush. ??West Coast officials and politicians, led by California Democratic Gov. Gray Davis, have chastised the FERC for not imposing temporary price caps and not taking more forceful actions against power generators who have charges prices far above what many consider reasonable even in a tight energy market. ??However, that is a decidedly minority position. ??Eight of the 11 governors who sent representatives to the meeting have said caps would hinder expansion of energy supplies. The governors of Washington and Oregon have joined Davis in arguing that the Western power market is broken and temporary price controls are needed to corral the cost of wholesale power. ??Wholesale power prices of from $250 to $300 a megawatt-hour continue to be common not only in California but also in the Northwest where power purchasers have increasingly had to turn to the spot market because a severe drought has curtailed supplies from hydroelectric dams. ??On Monday, the Bonneville Power Administration, which for decades has given the Northwest some of the lowest electricity prices in the country, announced it will have to increase wholesale rates by 250 percent unless electricity demand is reduced sharply within two months. With current demand, Bonneville will have to rely extensively on high-priced spot markets, said BPA Administrator Steven Wright. ??In California, the state's second biggest utility, Southern California Edison, announced it plans to sell its transmission lines to the state for $2.76 billion to raise cash and avert bankruptcy. ??SoCal and Pacific Gas & Electric, which last week sought protection from creditors by filing bankruptcy, owe more than $13 billion for power purchases since last summer. Because no one has been willing to sell more power to the two utilities, the state has spent $45 million to $50 million a day since January to buy power at rates many times what they were before the power crunch began. ??Commissioner Linda Breathitt said she wants to hear what advice the state regulators might have and ''hear their views on how FERC can assist them'' in addressing power shortages and likely soaring prices this summer. ??Breathitt has sided with Hebert on the price cap issue. Another commissioner, William Massey, has argued strongly for price caps, but has been overruled. ??To fill two vacancies on the FERC, President Bush recently named two new commissioners, both state utility regulators, who like Hebert are strong supporters of electricity deregulation. The two nominees, Pat Wood of Texas and Nora Brownell of Pennsylvania, have not yet been confirmed by the Senate. LOAD-DATE: April 10, 2001 ?????????????????????????????45 of 100 DOCUMENTS ???????????????????????Copyright 2001 Associated Press ??????????????????????????????????AP Online ???????????????????????????April 10, 2001; Tuesday SECTION: Domestic, non-Washington, general news item LENGTH: 585 words HEADLINE: ?Calif. Gov. To Buy Power Lines BYLINE: LESLIE GORNSTEIN DATELINE: LOS ANGELES BODY: ???Southern California Edison's customers will get a break from surging electricity rates thanks to the cash-starved utility's agreement to a $2.76 billion deal allowing the state to buy its transmission lines. ??Gov. Gray Davis announced the deal Monday, in which the state's second-largest utility also agreed to a 10-year deal to provide low-cost power to customers. ??The deal is a key part of the governor's plan to keep SoCal Edison solvent. It would give the utility money to reorganize its debts and pay power generators, many of which have not been paid since November. ??''We will be well-served by having financially healthy utilities with skilled and experienced employees,'' said Edison International chief executive John Bryson. ??The deal still requires approval by state legislators and regulators. ??''This agreement proves good things can happen when the parties are responsible, resolute and stay at the table,'' Davis said Monday. ''If you walk away from the table, nothing can get done.'' ??Pacific Gas and Electric Co., the state's largest utility, filed for federal bankruptcy protection on Friday without notifying Davis of its plans. ??On Monday, PG&E asked U.S. Bankruptcy Judge Dennis Montali to issue a temporary restraining order against the state Public Utilities Commission a request that PUC General Counsel Gary Cohen called a ''declaration of war'' against the commission and its authority to regulate the utility. ??The PUC says the utility owes the state more than $8 billion for electricity that the Department of Water Resources bought on behalf of the utility's customers since January. PG&G maintain the commission has miscalculated. ??Davis said there was still room for a deal with PG&E if the company wanted to come back to the bargaining table. But PG&E said it would continue to pursue a resolution to its problems through the bankruptcy court. ??''We are pleased that Southern California Edison, given its set of facts, and the state have been able to reach an agreement,'' PG&E spokesman Ron Low said. ''Given our set of facts, we continue to believe that a Chapter 11 reorganization is the most feasible means to reach a solution.'' ??Judge Montali is to hold another PG&E bankruptcy hearing Tuesday to continue determining which creditors will be paid, and in what order. ??Critics of the Edison deal attacked it Monday as expensive and impractical. Republican Assemblyman Dave Cox said the power lines could require billions of state dollars to upgrade. ??''My guess is the governor will have a difficult time finding a single Republican who is interested or who believes that purchase of the grid was a good business transaction,'' he said. ''It's hard to see any benefit.'' ??The memorandum of understanding signed Monday gives the utility the right to back out of the deal if the PUC does not implement certain changes within 60 days. ??Edison wants a half cent per kilowatt hour dedicated to repaying the utility $2 million it says it lost by buying power at high wholesale rates and selling it at frozen retail rates. ??PUC Chairwoman Loretta Lynch said she would expedite consideration of the proposed deal. ?
Jeff, hopefully we can convince you to come when we re-schedule - seemed like an easy call. Regards Delainey ---------------------- Forwarded by David W Delainey/HOU/ECT on 12/06/2000 03:59 PM --------------------------- David W Delainey 12/06/2000 01:18 PM Sent by: Kay Chapman 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], Janet R Dietrich/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Jeffery Ader/HOU/ECT@ECT, Greg Whalley/HOU/ECT@ECT, Joe Kishkill/SA/Enron@Enron, Brett R Wiggs/SA/Enron@Enron, Orlando Gonzalez/SA/Enron@Enron, Remi Collonges/SA/Enron@Enron cc: Kay Chapman/HOU/ECT@ECT, Kimberly Hillis/HOU/ECT@ect, Angela McCulloch/CAL/ECT@ECT, Airam Arteaga/HOU/ECT@ECT, Monica Butler/Corp/Enron@Enron, Paula Forsyth/Corp/Enron@ENRON, Lynn Pikofsky/Corp/Enron@ENRON, Anabel Gutierrez/HOU/ECT@ECT, Laura Harder/Corp/Enron@Enron, Tamara Jae Black/HOU/ECT@ECT, Sharon Purswell/HOU/ECT@ECT, Tina Rode/HOU/ECT@ECT, Debra Davidson/PDX/ECT@ECT, Tonai Lehr/Corp/Enron@ENRON, Lindsey Huculiak/TOR/ECT@ECT, Kimberly Brown/HOU/ECT@ECT, Melissa Jones/NA/Enron@ENRON, Kay Chapman/HOU/ECT@ECT, Janette Elbertson/HOU/ECT@ECT, Amy Rios/HOU/ECT@ECT, Patti Thompson/HOU/ECT@ECT, Cherylene R Westbrook/HOU/ECT@ECT, Shirley Tijerina/Corp/Enron@ENRON, Stephanie Gardner/HOU/ECT@ECT, Christy Chapman/HOU/ECT@ECT, Nicki Daw/NA/Enron@Enron, Michelle Vitrella/HOU/ECT@ECT, Lillian Carroll/HOU/ECT@ECT, Becky Young/NA/Enron@Enron, Debra Davidson/PDX/ECT@ECT, Marsha Schiller/HOU/ECT@ECT, Marcia A Linton/NA/Enron@Enron, Claudette Harvey/HOU/ECT@ect, Crystal Blair/HOU/ECT@ECT, Liz M Taylor/HOU/ECT@ECT, Marianne M Arake/SA/Enron@Enron, Luly Stephens/NA/Enron@Enron Subject: ENA 2000 Offsite Given the current tremendous energy market volatility and as we stretch resources to make our commercial goals for 2000, we think it would be appropriate to postpone the ENA 2000 Offsite to early next year. I trust this meets with your approval and thanks for all the hard work. Regards Dave and John
Thanks. m Enron North America Corp. From: Greg Piper @ ENRON 07/07/2000 06:49 PM To: Mike McConnell/HOU/ECT@ECT cc: Jeffrey McMahon/HOU/ECT@ECT, Greg Whalley Subject: Re: ClickPaper.com First, thanks for jumping in on this. I am confident we can get it done even though it will be a fire drill. We had a control or process matrix meeting today and it is all there, it was just being held or managed in four places. It will all be pulled together by Monday in one place (one complete document) and will have about 15 major categories with specific tasks under each category with status, person responsible, comments and date to be completed. It will also have a complete timeline. We can review that Monday and agree on its content. Louise agreed to review it as well. As it relates to the people you mentioned, let me know how and/or who you want to pull in after we agree on the control document. That way we will know which areas I have holes and how we can fill them. Salley Beck called (she mentioned you had called her as well) and we agreed that the ClickPaper's back office representative would officially be Scott Earnest (he has been unofficially it for months and we have been working with him for months). She is going to get in place people to be our Product Control Group for CP launch on July 24th. Scott and Salley will work to source it so that we have 3 or 4 people trained and ready on the 24th to receive password applications, create customer profiles on ClickPaper and start the applications through credit, legal and tax and finally get out user IDs to clients. We will leverage off the EOL process but not use their people unless there is some emergency. Remember, we are only setting up people for paper so the process is somewhat simplified. We also have a help desk person starting next week. I don't have his name yet, but we have him and one more on the way. We will create for them a brief manual and train them on the system as fast as we can. I did have a good meeting with Louise and Dave. We walked inch by inch through getting a user ID and password to getting a trade done. We have a few holes, but it is not that far away. She is going to think about a process document for this and get back to me Monday. I have a detailed EOL one and we will give it our shot this weekend. Let me know what Mark Palmer says. He knows we have been using Margaret. We will sit down with Margaret again on Monday and detail for her the PR plan and what she needs to do. We still plan to go out with a fairly inclusive mailing ( a letter) that does not include temporary IDs/passwords. We will tell them that the launch is coming and as special customers, we want to use this time to get them pre-registered. Besides, there is no way to test a 1000 temporary IDs anyway. We will send those out later. as I said earlier, the goal is to replace the splash screen with the unsecure area (or garden as Lousie would call it) by next for Friday or the following Monday. That way people can surf the content and get registered. On legal, I have been using Travis McCullough for at least four months and we had a detailed discussion today about the contracts, what is needed and the deadline. There is legal work left to do ( the current draft of the password application doesn't work), but if Taylor can help, that would be great. We will get our commercial comments back to Travis by Monday. I have a meeting Monday with Bill Bradford and Ted Murphy (with Bob Crane and Hal as well) to discuss the issue of a manual interface and the control issues associated with it. Credit is fine, we have been working with Bradford for months, but Murphy needs to understand the issues with manual posting. I will also make sure they check with Rick Buy on his approval and views. The entire ENA Paper group has the link to our site and we will have all their comments by the end of next week. They will also be given the complete Net Works and ClickPaper story on Thursday at their offsite and are ready to help the roll out. We also have them scheduled to come in Saturday, July 22nd for the final testing of the system. Remember, the 24th is a one (Enron)-to-many launch with a financial market only. ClickPaper is not the counterparty in the trade section, Enron is so it is simply a new distribution channel for Enron's existing financial offering. Later, we will build it out for physical (probably sooner rather than later). Finally, I will incorporate the EOL link or transaction loop but Louise said today that is October or November. It will only be many-to-many if someone comes in and makes a compelling case ($$$) to do so. Thanks. See you tomorrow. GP To: Greg Piper/Corp/Enron@Enron cc: Subject: ClickPaper.com Greg, a couple of other thoughts and ideas for Monday's meeting. I would like to discuss the entire process chain as part of the timelines, personnel responsibilities and key action items. I think this is another good way to find any potential gaps and help prioritize various items and assignments. Andrew Parsons Sr. Director (and superior performer) is a great and very smart guy that can add a lot of value to the effort. You will like him and he will be a very valuable resource to add to the team - even if it is for a couple of weeks. He wrote the IT compliance process chain and could reverse engineer difficult parts that are unique to the Ariba platform. He has others on his team that could help and I've asked him to think about his existing AA resources that are available (some are working on ClickPaper already). Other resources that have been identified to potential added firepower in the short run: Beth Pearlman, John Tollefson (IT), Bob Schultz (LK said she could spare him without delaying phase 2 roll out), Dave Forester (not a good option because it would definitely set back phase 2 roll out), Mary Solmenson, Scott Mills, Berry Pearce, David Port, David Sweeny, Sally Beck (advice and discuss additional resources). I did ask Louise to jump in (and i know you did too) to help on some quick thoughts on process and lessons learned. I saw the process maps for EOL and I think they, or the simplified early versions, are very important and key to a successful launch for ClickPaper. I went by to see Mark Palmer (he was out) and left him a voice mail on the marketing effort and what Margarat Allen is doing. I wanted him to make sure that he understood the importance and priority of this effort. I also talked with Beth Pearlman about helping out (or assigning John Tollefson) and I told her that we would be talking about this on Monday afternoon. Do we need to have Alan Aronowitz or Mark Taylor look over the agreements to add a trading perspective? A few thoughts, see you tomorrow. mike
Greetings: During today's conference call the attached budget was approved by all companies on the call: Dynegy, Duke, Reliant, Calpine Constellation, and Williams. For those of you who where not on the call I will be contacting you individually. We will be determining the funding mechanism at the IEP Board meeting next week. Please let me know if you have any questions. Thanks! Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499 -----Original Message----- From: Katie Kaplan [mailto:[email protected]] Sent: Sunday, April 15, 2001 10:27 PM To: 'Katie Kaplan'; 'Andy Brown (E-mail)'; 'B Brown Andy (E-mail)'; 'Baker Carolyn (E-mail)'; 'Bob Escalante (E-mail)'; 'Bob Weisenmiller (E-mail)'; 'Curtis Kebler (E-mail)'; Dean. Nistetter (E-mail); 'Douglas Kerner (E-mail)'; 'Greg Blue (E-mail)'; 'Jan Smutny-Jones (E-mail)'; 'Jean Munoz (E-mail)'; 'Jeff Dasovich (E-mail)'; 'Joe Ronan (E-mail)'; 'John Larrea (E-mail)'; 'John Stout (E-mail)'; 'Julee Malinowski-Ball (E-mail)'; 'Kassandra Gough (E-mail)'; 'kent Palmerton (E-mail)'; 'Lynn Lednicky (E-mail)'; Marie Moretti (E-mail 2); 'Marty Wilson (E-mail)'; 'McNally Ray (E-mail)'; ''Nam Nguyen' (E-mail)'; 'Norton Kelli (E-mail)'; 'Paula Hall-Collins (E-mail)'; 'Pigott Jack (E-mail)'; 'Richard Hyde (E-mail)'; 'Roger Pelote (E-mail)'; 'Stephanie-Newell (E-mail)'; 'Sue Mara (E-mail)'; 'Tom Ross (E-mail)'; Tom Williams (E-mail) Cc: 'Carol Hudson (E-mail)' Subject: RE: IEP PR Call on Monday at 2:00 Greetings: Here is the administrative/budget memo. Please take a couple of moments to review it prior to the call. Thanks! Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499 -----Original Message----- From: Katie Kaplan [mailto:[email protected]] Sent: Friday, April 13, 2001 12:19 PM To: 'Andy Brown (E-mail)'; 'B Brown Andy (E-mail)'; 'Baker Carolyn (E-mail)'; 'Bob Escalante (E-mail)'; 'Bob Weisenmiller (E-mail)'; 'Curtis Kebler (E-mail)'; Dean. Nistetter (E-mail); 'Douglas Kerner (E-mail)'; 'Greg Blue (E-mail)'; 'Jan Smutny-Jones (E-mail)'; 'Jean Munoz (E-mail)'; 'Jeff Dasovich (E-mail)'; 'Joe Ronan (E-mail)'; 'John Larrea (E-mail)'; 'John Stout (E-mail)'; 'Julee Malinowski-Ball (E-mail)'; 'Kassandra Gough (E-mail)'; 'Katie Kaplan (E-mail)'; 'kent Palmerton (E-mail)'; 'Lynn Lednicky (E-mail)'; Marie Moretti (E-mail 2); 'Marty Wilson (E-mail)'; 'McNally Ray (E-mail)'; ''Nam Nguyen' (E-mail)'; 'Norton Kelli (E-mail)'; 'Paula Hall-Collins (E-mail)'; 'Pigott Jack (E-mail)'; 'Richard Hyde (E-mail)'; 'Roger Pelote (E-mail)'; 'Stephanie-Newell (E-mail)'; 'Sue Mara (E-mail)'; 'Tom Ross (E-mail)'; Tom Williams (E-mail) Cc: 'Carol Hudson (E-mail)'; 'Steven Kelly (E-mail)' Subject: IEP PR Call on Monday at 2:00 Importance: High IEP will have a PR call on Monday at 2:00 PST to discuss upcoming issues relating to the Dunn Hearings, message/material development for Legislative activities, upcoming issues, media updates and administrative issues. The call in number is: 1-800-486-2460 The Pass code number is: 120895 I will be sending out the final budget with company commitment recommendations later this weekend, please take a look at it prior to the call. We send Powerful Ideas out to be printed and will receive the first copies back at the end of next week. It will also be available on our website next week. I hope everyone has a nice weekend. Katie Kaplan Manager of State Policy Affairs Independent Energy Producers Association (916) 448-9499 - 2001 Budget.doc
My memory has failed me once again! "Campbell, Carolyn" <[email protected]> on 02/26/2001 12:44:58 PM To: "'[email protected]'" <[email protected]> cc: [email protected], "Keffer, John" <[email protected]> Subject: RE: Revised 7EA Turbine Letter Agreement Kay: My notes indicate that the promissory note structure was used not due to HSR concerns, but rather, in order to avoid issues associated with disproportionate distributions resulting from the contribution of funds as capital. I believe that the use of an LLC as the subject entity eliminated the HSR issues. Of course, the higher HSR threshold is also now effective. Carolyn M. Campbell King;& Spalding 713-276-7307 (phone) 713-751-3280 (fax) [email protected] <mailto:[email protected]> ; -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Monday, February 26, 2001 11:37 AM To: Campbell, Carolyn Cc: [email protected]; [email protected] Subject: RE: Revised 7EA Turbine Letter Agreement Carloyn, Is the promissory note structure still necessary, given the increase in the HSR threshhold? ckm "Campbell, Carolyn" <[email protected]> on 02/22/2001 05:59:49 PM To: "'[email protected]'" <[email protected]> cc: [email protected] Subject: RE: Revised 7EA Turbine Letter Agreement Kay: Yes, the 1/11 draft (v4) is the current draft. Carolyn M. Campbell King;& Spalding 713-276-7307 (phone) 713-751-3280 (fax) [email protected] <mailto:[email protected]> -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, February 22, 2001 4:10 PM To: [email protected] Cc: [email protected] Subject: Revised 7EA Turbine Letter Agreement Hi Carolyn, Is this the most current version? Thanks, Kay ---------------------- Forwarded by Kay Mann/Corp/Enron on 02/22/2001 04:08 PM --------------------------- "Campbell, Carolyn" <[email protected]> on 01/11/2001 06:29:24 PM To: "'[email protected]'" <[email protected]> cc: "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]> Subject: Revised 7EA Turbine Letter Agreement <<2RZ504!.DOC>> <<2RZ5RED.DOC>> Kay: We have enclosed clean and marked copies of a revised draft of the 7EA turbine letter agreement reflecting revisions from the draft previously distributed on January 8, 2001. Please review and advise of any comments. Thank you. Carolyn M. Campbell King & Spalding 713-276-7307 (phone) 713-751-3280 (fax) [email protected] Enclosures: 129569v4 129569vR4/3 (See attached file: 2RZ504!.DOC) (See attached file: 2RZ5RED.DOC) Confidentiality Notice This message is being sent by or on behalf of a lawyer. It is intended exclusively for the individual or entity to which it is addressed. This communication may contain information that is proprietary, privileged or confidential or otherwise legally exempt from disclosure. If you are not the named addressee, you are not authorized to read, print, retain, copy or disseminate this message or any part of it. If you have received this message in error, please notify the sender immediately by e-mail and delete all copies of the message. Confidentiality Notice This message is being sent by or on behalf of a lawyer. It is intended exclusively for the individual or entity to which it is addressed. This communication may contain information that is proprietary, privileged or confidential or otherwise legally exempt from disclosure. If you are not the named addressee, you are not authorized to read, print, retain, copy or disseminate this message or any part of it. If you have received this message in error, please notify the sender immediately by e-mail and delete all copies of the message.
Carol: I would prefer to go to them with all the issues at one time. If you have any more issues you would like us to address, please forward and we can approach sureties all at once. If there are no more issues from you/ENRON please advise and we will go to sureties now. THX Bill Oldham Director, Insurance Risk Management Reliant Energy Incorporated Telephone No.713/207-3131 FAX No. 713/207-3251 email: [email protected] Carol.St.Clair @enron.com To: [email protected] cc: [email protected], [email protected] 06/05/01 09:04 Subject: Re: Update AM Bill: Thanks for the information. I need to take a closer look at Janet's language, particularly the "null and void" language to make sure that it covers all possible events of default under the Master Agreement. As to the Texas law issue, our ability to get comfortable from a legal standpoint will in large part be dictated by this issue. Is there anyway to get more certainty on this with the sureties? I understand that you don't want to go to them multiple times but this is a key issue for us. Let me know what you think. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) [email protected] boldham@relia nt.com To: [email protected] cc: [email protected] 06/04/2001 Subject: Re: Update 03:35 PM Carol: The attached two e-mails are in response to your inquiry of 6-1-01. If you have any questions, let me know. Bill Oldham Director, Insurance Risk Management Reliant Energy Incorporated Telephone No.713/207-3131 FAX No. 713/207-3251 email: [email protected] ---- ----- Forwarded by Bill Oldham/ADM/HouInd on 06/04/01 10:19 AM ----- Michael_Herrod@a rs.aon.com To: [email protected] cc: [email protected], [email protected], 06/04/01 09:59 [email protected], [email protected], AM [email protected] Subject: Re: Update In my opinion, the wording suggested by Janet Green should be acceptable. We will have to have this wording formally approved by the surety companies prior to issuance. I would like to avoid approaching the sureties until all questions have been addressed and all changes have been made. In regards the bonds being subject to Texas law, I do not see that as being a problem. We will address that with the sureties along with other potential changes. In response to previous email, neither Dan nor I know of an attorney that would be willing or able to write an opinion in regards the applicability of the Appleton Law. As discussed during the meeting, this law has nothing to do with the viability of an exisitng surety bond. If a surety issued a bond that was later found to be in violation of Appleton, they would be fined by the State of New York. It does not make the bond invalid. MJH ----- Forwarded by Bill Oldham/ADM/HouInd on 06/04/01 07:32 AM ----- Janet K Greene To: Bill Oldham/ADM/HouInd@HouInd 06/03/01 05:23 cc: PM Subject: Re: Update(Document link: Bill Oldham) What if we said: "if the Principal shall promptly and faithfully perform its obligations under the Confirm, which is a part of and governed by the Master Agreement, then this obligation shall be null and void" With respect to her second point, what if we again said "an Event of Default has occurred under the Confirm, which is a part of and governed by the Master Agreement"? I think she is trying to clarify in the language that the bond can be called for an Event of Default under the Master Agreement, which could have nothing to do with the Confirm - - - which is factually correct. Janet K. Greene Reliant Resources, Inc. 1111 Louisiana, Suite 4300 Houston, TX 77002 713-207-5732 fax: 713-207-0141 [email protected] Bill Oldham To: [email protected] 06/01/01 09:27 cc: [email protected], [email protected], AM [email protected], Bill T Hamilton/TTG/HouInd@HouInd, William Waller/ADM/HouInd@HouInd, Rex Clevenger/ADM/HouInd@HouInd Subject: Re: Update(Document link: Janet K Greene) Carol: Thankyou for the attached. I believe the governing law for each issuing surety will be the law where the surety is domiciled, but let me do some checking and confirm this. Also, will get back to you on your comments Re the language in our recommended bond form...probably Monday or Tuesday next week. Thanks for your continued efforts in this matter. Bill Oldham Director, Insurance Risk Management Reliant Energy Incorporated Telephone No.713/207-3131 FAX No. 713/207-3251 email: [email protected] Carol.St.Clair @enron.com To: [email protected] cc: [email protected], [email protected], 06/01/01 09:02 [email protected] AM Subject: Update Bill: I spoke with our outside counsel yesterday and we have some more follow up work that we need to do on our side. One issue that may be of some importance to us in our analysis is determining what the governing law of the surety bond will be for each issuer, and more importantly, whether we can have the bonds governed by Texas law. Can you answer this for me? Also, with respect to the form of the bond itself, as we mentioned at the meeting, the language in the third paragraph which states that "if the Principal shall promptly and faithfully provide the Firm energy as defined in the Confirm, hen this obligation shall be null and void," does not work for us. Has anyone come up with alternative language? Finally, with respect to the Notice of Claim, we would like for the certification to say something like, "an Event of Default has occurred under the Master Agreement" rather than tie it to a specific default under the Confirmation. Does that work for the sureties? I look forward to hearing from you. Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) [email protected]
To OTC Dispatch Subscribers: Congratulations to our subscribers who timed our last pick just right. On Wednesday May 30th we came out with a Trading Alert on PETP. We warned our subscribers (heavily) that it was NOT a long-term investment, but rather a short-term potential flip. Those of you who are of a trader-disposition decided to give it a whirl, and had a good trading opportunity. When we told you about PETP, it had just closed at $1.15. We made it clear that we felt the trading range would be tight. Here is what we said: > If the stock trades up to $1.43 our technical indicators > consider it a sell. Stop loss indicators have been issued > for $1.08. The expected trading range is tight, so be > cautious! The next day, June 1st, the stock opened at $1.34! Those of you who read our Trading Alert would NOT have bought at that price, since you knew the OTC Dispatch Technical Indicators considered it a sell at $1.43. For those of you who were patient, the stock traded between $1.23 and $1.39 that day, giving you a tight range in which to execute your trades. Judging by the response we got in your emails to us, many of you picked up a 5-10% gain. Nice work! To those of you who tried to trade the stock but got beat on poor execution, remember that the OTC Dispatch Trading Alerts are ONLY meant for short-term speculative trading purposes. Generally however, the OTC Dispatch covers companies that we think represent a 6-18 month hold period. In other words, most of our picks are micro-cap stocks that deserve to be held for a considerable period of time before selling. For our new subscribers, please remember therefore that there is a DIFFERENCE between our Trading Alerts and our regular stock picks. Trading Alerts are short-term high-risk swings, and our regular picks are meant to be held for the longer term. Many of our subscribers often email us their own picks, and ask us to write them up. We appreciate that feedback - always! - and we may write up your stock pick if we think it is a good one. But remember! - we do an enormous amount of due diligence and most stocks do not make it through our criteria. And now for an OTCBB Highlight or two! Oh for the wonderful days of only a a bit more than a year ago, when the OTCBB was rocking! Do not fear, it is coming back. But we could not help but be impressed by some interesting stats. Total dollar volume on the OTCBB last year around this time was about $7 billion per month (this does not account for double-counting). Right now it is at around $1 billion per month. Average daily dollar volume right now therefore is around $50 million. Last year it was $350 million. Average daily volume right now is about 270,000,000 shares. A year ago it was about 450,000,000. What we find interesting is that, while daily trading volume is more than 50% of what it was a year ago, daily dollar volume is around 15% of what it was. This is important because dollar volume has not been this low since 1993. Yet share volume is still around early 1999 levels! The total number of OTCBB-quoted issuers has been relatively static for the last few years (except for the 1997-99 spike, but mandatory reporting took the number back down to historic levels by 2000). What does all this tell us? What we are all-too-well familiar with - average share prices of OTCBB-quoted companies are at HISTORIC lows. We believe many OTCBB stocks will provide 5 to 10 times ROI over the next 18 months, but the trick is determining which ones. Most of them are volatile, and many won't make it. Our mission is to tell you about the ones that have the best chance of doing extremely well. Until next time, good speculating! OTC Dispatch Editorial Team ================================ Disclaimer: OTC Dispatch is published by OTC Dispatch Inc. OTC Dispatch has not received any compensation for this report. 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This comes every week. I'll start forwarding it, if you are interested. Is there anyone else who should get it? Sue Mara Enron Corp. Tel: (415) 782-7802 Fax:(415) 782-7854 ----- Forwarded by Susan J Mara/NA/Enron on 07/05/2001 03:50 PM ----- "Martinez, Michael" <[email protected]> 07/05/2001 03:07 PM To: "'Alex Sugaoka (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]>, "'Carolyn A Baker (E-mail)'" <[email protected]>, "Charles Linthicum (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]>, "'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]>, "'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]>, "Paul Desrochers (E-mail)" <[email protected]>, "Paula Soos (E-mail)" <[email protected]>, "'Randy Hickok (E-mail)'" <[email protected]>, "'Roger Pelote (E-mail)'" <[email protected]>, "'Ross Ain (E-mail)'" <[email protected]>, "Scott Sadler (E-mail)" <[email protected]>, "'Stephanie Newell (E-mail)'" <[email protected]>, "Steve Iliff (E-mail)" <[email protected]>, "'Steve Ponder (E-mail)'" <[email protected]>, "'Susan J Mara (E-mail)'" <[email protected]>, "McMorrow, Thomas" <[email protected]>, "'Tony Wetzel (E-mail)'" <[email protected]>, "William Carlson (E-mail)" <[email protected]>, "William Hall (E-mail)" <[email protected]> cc: "Andy Brown (E-mail)" <[email protected]>, "'Jan Smutny-Jones (E-mail)'" <[email protected]>, "Jean Munoz (E-mail)" <[email protected]>, "'Katie Kaplan (E-mail)'" <[email protected]>, "Sandra Moseley (E-mail)" <[email protected]>, "'Steven Kelly (E-mail)'" <[email protected]>, "'Hudson, Carol'" <[email protected]> Subject: FW: RE: Legislative Report (07/05/2001) Dear All, > Attached is this week's legislative report. > > Republicans are still voting against the state's spending budget, citing a > tax increase of one-quarter of a cent in the state's sales tax. Without a > state budget in place, essential state services cannot be done such as > issuing checks to many contractors as well as to lawmakers, legislative > staffers, constitutional officers, and administration appointees. Civil > service workers will still be able to recover their paychecks, however > trial courts do not appear to collect any state funds to cover payroll and > administrative costs. > > Meanwhile, this week's energy-related events and legislative highlights > include: > > > EVENTS: > > * Two new "whistleblowers" from the former San Diego Gas & Electric > Company came forth on Thursday morning, alleging further accusations of > price manipulation and unsafe working conditions by Duke Energy. These two > former employees were introduced at a press conference by Lt. Governor > Cruz Bustamante and Assembly Member Barbara Matthews to "further expand > upon testimony" provided by three former Duke employees last week. > Meanwhile, the Senate Energy Price Manipulation Select Committee chaired > by Senator Joe Dunn (D-Santa Ana) will meet this upcoming Tuesday and vote > on contempt citations against generators Mirant and Enron who failed to > comply with subpoenas for documents. According to the committee, six other > suppliers of energy -- AES, Williams, Reliant, Dynegy, Duke and ERG -- > have until Tuesday to turn over documents. > > * The state PUC cancelled its continuation meeting on Tuesday, dealing > with the "suspension of the right of retail end users of electricity to > acquire service from providers other than the DWR or a public entity" and > any other items relating to the DWR's Power Supply Revenue Bonds. Written > letters received by the Department of Finance, State Treasurer's Office, > and the DWR all urged the PUC to postpone its hearing until mid-August so > that interested parties can resolve their issues. > > * State Controller Connell released unedited versions of $43 billion > worth of power contracts with 18 power generators negotiated by the > governor's energy consultants on Monday. These contracts specifically > state which companies are selling energy to the state as well as at what > cost, the duration of the contract, and from where the energy is > generated. Further information released includes reference to millions of > dollars already paid towards the long-term energy contracts in addition to > the $2.8 million for special energy consultants to the governor. Connell > says that the contracts were negotiated at the "worst possible times, for > higher prices, and longer periods than necessary." > > * The CalISO acknowledged on Monday responsibility for swings in the > electrical production at a power plant owned by Duke Energy. This is > significant because Duke had been the subject of allegation of market > manipulation by former employees in Senator Dunn's surprise committee > hearing last week. In a document to its oversight board, the ISO states > records show that Duke merely was following its orders to adjust output to > help balance the statewide grid and not drive up prices. > > * Governor Davis announced late last Friday that Mark Fabiani will no > longer serve as one of his strategic communications consultants, keeping > Chris Lehane as his communications consultant with a salary equal to > former Communications Director Phil Trounstine. Mr. Lehane will continue > to provide support in "addressing the state's energy-related challenges" > and "manage all of the state's agency and department public information > officers" as well as "relinquish his SCE consulting agreement for the term > of his state contract." > > > LEGISLATION: > > * AB 51xx -- Electrical generation -- by Assembly Member Sarah Reyes > (D-Fresno) was heard in the Assembly Judiciary Committee on Tuesday, and > passed out with 7 AYES, 0 NOES, and 3 ABSTENTIONS. Despite this vote, the > committee requested (and the author agreed) that the bill be re-heard in > the Assembly Judiciary Committee following action of the bill by the > Assembly Energy Costs and Availability Committee. This bill addressed > whether or not an operator of an electric generation facility that reduces > or discontinues service for financial gain be held liable for damages as a > result of the reduction or discontinuance in energy output. IEP submitted > an opposition letter and will continue to oppose this bill. > > > UPCOMING LEGISLATION: > > IEP has submitted letters of opposition for the following bills, except AB > 28xx (Migden). The Board has directed IEP to remain neutral on this bill. > > * SB 23xx (Soto) Public power districts on Monday, July 9 in the > Senate Appropriations Committee at 8:30 a.m.. > * SB 1xx (Soto) Personal income and bank and corporation taxes: > electrical windfall profits tax: consumer credit on Monday, July 9 in the > Assembly Revenue & Taxation Committee at 1:30 p.m. > * SB 39xx (Speier) Public utilities on Monday, July 9 in the Assembly > Energy Costs and Availability Committee at 2:30 p.m. This bill was > initially scheduled to be heard on Monday, July 2; however, the committee > hearing was postponed and rescheduled to the 9th.) > * AB 28xx (Migden) Electrical restructuring: Oversight Board: > Independent Service Operator on Tuesday, July 10 in the Senate Energy, > Utilities & Communications Committee at 1:30 p.m. > * AB 65xx (Cardoza) Fuel: illegal business practices on Wednesday, > July 11 in the Assembly Appropriations Committee at 9:30 a.m. > * AB 81 (Migden) Property taxation: state-assessed property on > Wednesday, July 11 in the Senate Revenue & Taxation Committee at 1:30 p.m. > > <<IEPA Legislative Report (4).DOC>> - IEPA Legislative Report (4).DOC
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---------------------- Forwarded by Mary Hain/HOU/ECT on 12/14/2000 08:46 AM --------------------------- Tracy Ngo 12/14/2000 08:34 AM To: Mary Hain/HOU/ECT@ECT cc: Subject: Re: Article ---------------------- Forwarded by Tracy Ngo/PDX/ECT on 12/14/2000 08:40 AM --------------------------- From: William S Bradford on 12/14/2000 07:47 AM To: Wendy Conwell/NA/Enron@ENRON, Oliver Harrison/LON/ECT@ECT, Tracy Ngo/PDX/ECT@ECT cc: Subject: Re: Article ---------------------- Forwarded by William S Bradford/HOU/ECT on 12/14/2000 08:48 AM --------------------------- Enron North America Corp. From: Frank Hayden @ ENRON 12/14/2000 09:13 AM To: William S Bradford/HOU/ECT@ECT, Cassandra Schultz/NA/Enron@Enron cc: Subject: Re: Article ---------------------- Forwarded by Frank Hayden/Corp/Enron on 12/14/2000 09:11 AM --------------------------- From: Rebecca Phillips@ECT on 12/14/2000 09:10 AM To: Frank Hayden/Corp/Enron@ENRON cc: Subject: Re: Article Sorry - I don't have the password. Here's the article. r Enron: ISO Credit Problems Are Those Of Calif Utilities Of DOW JONES NEWSWIRES 12/13/2000 Dow Jones Energy Service (Copyright (c) 2000, Dow Jones & Company, Inc.) By Mark Golden NEW YORK -(Dow Jones)- The credit problems of the California Independent System Operator reflect the credit problems of the state's three investor-owned utilities, Enron Corp. (ENE) chief of staff Steven Kean said Wednesday. "We have expressed some concerns about the utilities' creditworthiness," Kean said. "They wouldn't have this credit issue if they had a government guarantee." Standard & Poor's credit analyst for California utilities, Richard Cortright, told Dow Jones Newswires that such a guarantee is highly unlikely. "There's no point in talking about it," Cortright said. The credit-rating agency put California utility holding companies PG&E Corp (PCG) and Edison International (EIX) on watch with negative implications Wednesday. The utilities have seen their debt rating downgraded already this fall, but their debts are piling up by the billions as they continue to pay about 10 times more for power supplies than they can charge customers. "The sheer magnitute of the undercollected balance is beyond belief," Cortright said. "Wholesale prices have gotten worse, and every hour the situation gets more dire." Cortright said the only step that would save the utilities' credit status is if California regulators raised the rates the utilities can charge customers. Late Wednesday, the California Public Utilties Commission indicated that it may do so, reversing a decision made just last week. "With new generation coming on, you would expect the rates to decline in a couple of years," Cortright said. The California Independent System Operator almost had to institute rolling blackouts Wednesday because 13 suppliers had stopped selling it power due to concerns about the ISO's credit. California Gov. Gray Davis said that Enron was one of the "dirty 13." Enron's Kean said that Enron was only offering very limited amounts of power to the ISO. "We are basically just a buyer and seller. We control only 70 megawatts of generation in the state, which we offered to the ISO today because of the emergency, but the ISO declined to purchase that power," Kean said. That small generating unit is located in the southern California, while the ISO's supply problems were most acute in northern California. "We aren't selling any other power to them right now. Everything else that we bought we've sold to other buyers," said Kean, who added that Enron had sold to the ISO as recently as Tuesday. The ISO manages California's electricity grid and purchases last-minute additional power on behalf of the state's three investor-owned utilities. The ISO then bills the utilities, which are PG&E Corp's Pacific Gas & Electric Co, Edison International's (EIX) Southern California Edison, and Sempra Energy's (SRE) San Diego Gas & Electric Co. The ISO has 70-day payment terms to suppliers. For the past two weeks, and often during the summer, the ISO has been purchasing about one-fourth of the state's entire needs at very high prices. It's current daily power purchases are running at $50 million to $100 million. -By Mark Golden, Dow Jones Newswires; 201-938-4604; [email protected] Enron North America Corp. From: Frank Hayden @ ENRON 12/14/2000 09:08 AM To: Rebecca Phillips/HOU/ECT@ECT cc: Subject: Re: Article I can't access the article without Enron's account number.. You wouldn't happen to have that? Frank To: Frank Hayden/Corp/Enron@Enron cc: Subject: Article http://nrstg2s.djnr.com/cgi-bin/DJInteractive?cgi=WEB_FLAT_PAGE&GJANum=3008059 88&page=wrapper/index&entry_point=1&user_bounced=1&entry_point=1 Here's an article about ENE and Cal. Looks like we control about 70 MW in Cal. r
---------------------- Forwarded by Susan M Scott/HOU/ECT on 09/18/2000 03:24 PM --------------------------- Enron Capital & Trade Resources Corp. From: [email protected] 09/17/2000 04:19 PM To: [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected], [email protected] cc: Subject: Fwd > IT MAKES YOU THINK > Sometime in between moving into > the dorm, > And begging for an ID, > Somewhere in the middle of an 8 > o'clock class, > And watching Friends on our 8 inch > TV. > Sometime after the night you > forgot, > With the guy you don't remember. > Maybe before the five tests in > three days, > Or the party every night in > September. > Sometime in the car on the way to > Daytona, > For the road-trip of the year. > After class gets out with that gay > TA, > After you finish the last warm > beer. > Shortly after you figured out, > This newfangled 'e-mail' thing. > And after you stopped dreaming > about, > The fun a 21 ID would bring. > Maybe the morning after you pulled > the all-nighter, > But finally got the paper done, > Or maybe when you can't remember, > The last Sunday night you had fun. > Somewhere between the day you met > your dorm roommate, > And you were sure you got one of > the duds, > And the day 4 years later when > she's still your roommate, > And she's one of your best buds. > Definitely after you realized how > lucky you are, > To have such a great group of > friends, > And after you get that sick > feeling in you stomach, > Wondering what will happen when it > ends. > Maybe on the beach for spring > break, > Hot sun, tan bodies, cold beer. > Maybe after you started looking > for a job, > And your happy world turned to > fear. > Soon after you discovered there's > just not enough time, > To do everything you should. > But not before you realized > Thanksgiving dinner, > Never tasted so good. > Sometime after the day your > parents came to visit, > So you were forced to make your > bed. > Or the morning after a tough night > at the bars, > And you can't believe the things > you said. > Sometime after you enjoy the > beautiful weather, > Though it means missing a class. > >Probably after laughing on > Homecoming weekend, > Watching old alumni drunk off > their collective ass. > Somewhere between day one and year > four, > The best years of your life were > spent. > And looking back with a smile and > a sigh, > You wonder where those years went. > You try to figure out who made you > a victim, > Of the most serious crime, > You offer a reward for any > information leading, > To the one who stole the time. > The day is coming closer, and > closer, > Until one day it will be your > last, > And someone is guilty of doing > this to you, > The years have gone way too fast. > Sometime when you were too busy to > notice, > Happy as a newborn pup, > Someone came along and did the > unthinkable. > Somebody grew us up. > > > > > ______________________________________________________ > Get Your Private, Free Email at http://www.hotmail.com > <http://www.hotmail.com> > > > > _________________________________________________________________________ > 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.
Marlene, I am forwarding the 2 execution originals of the ENA to HPL assignment of Oasis transportation contracts for your further handling. The assignment covers the following contracts: (1) Interruptible NGPA Section 311 96019482 2/1/99 Gas Transportation Agreement (2) Firm Intrastate Gas Transportation 96019481 2/1/99 Agreement (3) Interruptible Intrastate Gas 96016667 8/1/99 Transportation Agreement (4) Interruptible NGPA Section 311 96015445 11/1/97 Gas Transportation Agreement Thanks for your assistance, Eric Gillaspie 713-345-7667 Enron Building 3886 Marlene Hilliard 08/10/2000 08:19 AM To: Eric Gillaspie/HOU/ECT@ECT cc: Subject: Re: Oasis Eric, (2) 96016654 does not have any deals attached. I have terminated this contract in Global Contracts. You can proceed with the Assignment. Marlene ---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 08/10/2000 08:17 AM --------------------------- Marlene Hilliard 08/09/2000 09:56 PM To: Eric Gillaspie/HOU/ECT@ECT cc: Subject: Re: Oasis Eric, (1) Yes, "Happy Netting Agreements" are never papered and are used solely for accounting purposes. They are used on the Puchase/Sale Contracts. Further, Pipeline Netting Contracts are never papered and are used solely for accounting purposes. They are used on teh Transportation Contracts. (2) First thing in the morning I will check to see if deals are attached to the contract. Then I can terminate the contract. Otherwise, I can not terminate the contract. I doubt if deal are because Sandra Grimes at Oasis Pipe Line Company indicated that the thirdd party no. did not belong to them. Marlene Ext. 3-9167 ---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 08/09/2000 09:45 PM --------------------------- Eric Gillaspie 08/09/2000 06:31 PM To: Marlene Hilliard/HOU/ECT@ect cc: Subject: Re: Oasis Marlene, (1) I'm not familiar with Happy Netting. Are "Happy Netting Agreements" not papered and used solely for accounting purposes?; and If you terminate the Parking contract then we can proceed with the assignment from ENA to HPL. (2) Please inform me of your decision to terminate the Parking contract. Thanks, Eric Gillaspie 713-345-7667 Enron Building 3886 Marlene Hilliard 08/08/2000 03:22 PM To: Eric Gillaspie/HOU/ECT@ECT cc: Gerald Nemec/HOU/ECT@ECT Subject: Oasis Netting Agreement 96019013: This is Happy Netting - No Paper Exist for this Agreement. The notes on the Core Main Tab indicates this. Parking 96016654: I spoke with Sandra Grimes at Oasis Pipe Line Company and she indicated that this contract did not exist in their system. They do not have any documentation. Their contract nos. start with 028......she is not aware of OPLC Synthetic as their contract no.. Therefore, the other Parking and Loan Agreements effective May 1, 2000 are not the same contract. Further, the documented status confirms that no paper exist and was setup in completely. I will probably terminate this contract in Global Contracts becasue it appears that it was setup in error. In fact, the contract does not have contracted services. Should you have any further questions, please do not hesitate to contact me. Marlene 3-9167 ---------------------- Forwarded by Marlene Hilliard/HOU/ECT on 08/08/2000 02:47 PM --------------------------- Eric Gillaspie 08/08/2000 02:31 PM To: Marlene Hilliard/HOU/ECT@ect cc: Gerald Nemec/HOU/ECT@ECT Subject: Oasis Marlene, I'm reviewing the amendments to the Oasis contracts that you have forwarded to me. I have also completed the Assignment (ENA to HPL) for the following contracts: ASSIGNED GAS TRANSPORTATION CONTRACTS _______Caption: Global Contract No: Effective Date:_____ (1) Interruptible NGPA Section 311 96019482 2/1/99 Gas Transportation Agreement (2) Firm Intrastate Gas Transportation 96019481 2/1/99 Agreement (3) Netting Agreement (confirmed only) 96019013 1/1/99 (4) Interruptible Intrastate Gas 96016667 8/1/99 Transportation Agreement (5) Parking (documented) 96016654 7/1/98 (6) Interruptible NGPA Section 311 96015445 11/1/97 Gas Transportation Agreement The only outstanding issue is that the Netting Agreement (96019013) and the Parking Agreement (96016654) are not papered. In order to assign the documents they need to be papered. Would you please work with Oasis to get these papered as they are the transporter. (It should be their paper). Thanks, Eric Gillaspie 713-345-7667 Enron Building 3886
From a commercial perspective, this is fine with me. I leave it to Jim to confirm that this is acceptable from the legal perspective. CF -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, September 27, 2001 12:06 PM To: Freeland, Clint Cc: Nogid, Jeff; [email protected]; Shackleton, Sara; Armogida, Jim; [email protected] Subject: RE: Equity Forward Contract Clint / Jim, Have amended the number (and added a reference to the Treasury office): "Such Non-Affected Party will use commercially reasonable efforts to promptly confirm the transmission of such facsimile notice by telephone (telephone number 1-800-973-6766, attention Enron Treasury Office) to the Affected Party, provided however, that failure to so confirm will not in anyway invalidate the effectiveness of a notice by facsimile transmission." Please confirm this is now acceptable. Any questions - don't hesitate to contact me, 203 719 5493 Regards, Annette Spencer ______________________________ Reply Separator _________________________________ Subject: RE: Equity Forward Contract Author: Clint.Freeland ([email protected]) at unix,mime Date: 9/27/01 11:38 AM Christine - Sara is out of the office for the rest of the week, but I understand why you guys have trouble with me specifically being listed. Instead of my number being put in there, can we just use the general Enron Corp phone number (1-800-973-6766) and have UBS ask to be connected to the Treasurer's office. There will always be a person there to take the call, and you will always be directed to the right person regardless of what employee reassignments may occur between now and then. Jim, what do you think of this? Christine, since Sara is out, would you please include Jim Armogida on the distribution list. Thanks. CF -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, September 27, 2001 9:06 AM To: Shackleton, Sara Cc: Freeland, Clint; Nogid, Jeff; [email protected] Subject: Equity Forward Contract Sara, Thank you for reviewing and returning the equity forward confirmations so promptly. We have reviewed the handwritten comment on page 8 of the contract and unfortunately cannot accept the language as presented. Our concern is that if we are unable to get through to Clint for any reason (either speaking to him directly or getting voice mail), the termination notice would not be effective. We propose to insert the following language instead: "Such Non-Affected Party will use commercially reasonable efforts to promptly confirm the transmission of such facsimile notice by telephone (telephone number 713-345-7538) to the Affected Party, provided however, that failure to so confirm will not in anyway invalidate the effectiveness of a notice by facsimile transmission." (insert as the last sentence of the third paragraph under "Additional Termination Event".) Please let me know if this works for you. If so, we will produce new contracts with the language and send it back to you for another round of signatures. Please call me if you have any questions. I apologize for any inconvenience this may cause. Regards, Christine 203-719-8354 Visit our website at http://www.ubswarburg.com This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. This message is provided for informational purposes and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments. ******************************************************************** 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 r ecipient (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 enron.messa [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 C orp. (or any of its affiliates) and the intended recipient or any other party, a nd may not be relied on by anyone as the basis of a contract by estoppel or othe rwise. Thank you. ******************************************************************** Visit our website at http://www.ubswarburg.com This message contains confidential information and is intended only for the individual named. If you are not the named addressee you should not disseminate, distribute or copy this e-mail. Please notify the sender immediately by e-mail if you have received this e-mail by mistake and delete this e-mail from your system. E-mail transmission cannot be guaranteed to be secure or error-free as information could be intercepted, corrupted, lost, destroyed, arrive late or incomplete, or contain viruses. The sender therefore does not accept liability for any errors or omissions in the contents of this message which arise as a result of e-mail transmission. If verification is required please request a hard-copy version. This message is provided for informational purposes and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments.
Mark, Further to Mark Haedicke's e-mails, for your information please see below my e-mail of yesterday evening to Mark Haedicke and Scott Sefton re the impact of English law on a potential Equity trading desk based in London. Kind regards Mark ---------------------- Forwarded by Mark Elliott/LON/ECT on 02/03/99 11:41 AM --------------------------- Mark Elliott 02/02/99 06:33 PM To: Mark E Haedicke/HOU/ECT@ECT, Scott Sefton/LON/ECT@ECT cc: Subject: Proposed London Equity Trading Desk I have reviewed the above proposal (which includes having had some in-depth conference calls with Slaughter & May, London) and conclude that the project is technically and legally viable provided that the points listed below are dealt with. Mark, once you have read this note, if you would like to discuss the contents with Scott and me, please do not hesitate to give us a call. SFA Authorisation and Structure On account of the potential frequency and size of trading (even on an execution-only basis for ECT Investments Inc), the London Desk should be authorised by the SFA. The personnel involved in the activity should be registered with the SFA as, at least, Securities Representatives, and preferably as General Representatives. Accordingly, subject to Tax Department's input, the London traders should be located in EEFT (already SFA-regulated) which would act as arranger or agent for the existing Houston-based equity trading corporation, ECT Investments, Inc (the latter as principal). Subject to Tax and other internal considerations, it would also be possible for EEFT to act as agent to do this business for, as principal, either ECTRIC, the proposed replacement vehicle for ECTRIC, or a new UK unregulated entity (the latter would apply if a UK book was required). A UK entity, as principal, would be "unregulated" if it was a purely passive booking company. Provided that the ultimate principal is either ECT Investments, Inc., ECTRIC or an unregulated UK principal, there should not be any UK regulatory capital requirements. The SFA would need to be informed in advance of our intention to have an equity trading capability in London and EEFT's SFA business profile would need to be extended to cover both arranging and dealing as agent in respect of equities. Transaction Reporting As the business would be SFA regulated per the above, SFA Rule 5-49 would require all transactions to be "Transaction Reported" - for pure cash equity business (wherever the equities are listed) this would be accomplished by computer-entry of trade details which would then download to one of the London Stock Exchange's ("LSE's") systems known as either "SEQUAL" or "CHECKING". The purpose of such reporting is not only to enable the LSE and SFA to establish daily market volumes, etc., but also, for example, to provide the relevant information to the LSE's surveillance unit which actively monitors all trades for signs of Insider Dealing. Systems' impact On the above structure, there should be no extra systems' requirements, except:- PC screens for the traders having feeds of market quotes / market information (e.g., Reuters, Telerate, etc): potentially a computer-link for settlement purposes a computer-link for the Transaction Reporting of executed deals to the LSE (see above) a computer-link to produce exception reports of executed deals to enable a Compliance Department to monitor for Disclosable Interests in Shares (see below) a computer-link to produce reports of executed deals for monitoring against the Watch and Restricted Lists (see Insider Dealing below) Accountants, e.g., Arthur Andersen, would be the best placed to advise on the correct form of computer-links, especially those for Transaction Reporting purposes. Disclosure of Interests in shares Re UK listed companies there are the following disclosures to be made of equity interests:- S. 198 Companies Act '85 - acquisition of 3 % interest or more, or disposal to below a 3% interest, or acquisition of each whole % above a 3% interest of a UK Public Co's voting capital requires to be disclosed to the company. Group interests / concert party interests are aggregated to arrive at the thresholds and "interest" includes a right or option to acquire shares. Substantial Acquisition Rules - acquisition of over 15% interest in a UK public company requires separate disclosure to the Company and, if listed, to the LSE. Rule 9 Takeover Code - acquisition of 30 % or more of UK public company's voting shares leads to a requirement to make a cash offer for the remainder. S. 212 Companies Act '85 - UK public companies can request at any time an entity to disclose to the company particulars of their, and other persons', interests in the company's share capital, including such details for the last three years. Rule 8.3 Takeover Code - during an "offer period" relating to a UK public company (and the offer is a "securities exchange offer"), persons owning or controlling directly or indirectly 1% or more of relevant securities of that company (including cash-settled derivatives) must disclose such interests to the Take-Over Panel. Please note that there may be similar rules in other jurisdictions, depending on where the relevant equities are listed - indeed in some jurisdictions there may be prohibitions on foreign ownership of equities. Insider Dealing Looking just to the UK legislation (The Criminal Justice Act 1993), the various criminal offences of Insider Dealing are committed, basically, when an individual has Inside Information (meaning unpublished price-sensitive information) concerning the securities of an entity or entities (whether UK or non-UK) which are officially listed in any State within the European Economic Area or admitted to dealing, or quoted, on a "Regulated Market" (e.g., including the major European markets, NASDAQ, etc). Please note that "price-sensitive" means likely to have a significant effect on the price of any securities - not just those of the entity or entities in respect of which one has the knowledge; and "securities" includes shares, debentures, options to subscribe for shares / debentures, depository receipts, futures and CFDs. Once in knowledgeable possession of insider information, the offences are commited if one deals in price-affected securities in relation to that information, or encourages another to so deal or discloses the information. The offence is punishable by imprisonment and / or fines. The offences are highly technical and there are certain defences available. The manner in which to try to prevent the internal commission of the offences is to put in place, simply, "established and effective" Chinese Walls between those individuals who would be involved in the Equity Trading facility and others in within the Enron Group who may have such inside information, to prevent the potential flows of Inside Information between those with such information and the Equity Traders in London. Both I and Slaughter & May feel that potentially replicating in London the Enron Chinese Wall policy actively followed in Houston could suffice in this respect as it is generally felt that the US requirements should be at least as stringent as those required in the UK. Alan Aronowitz is in the process of sending me Houston's policy in this regard for review and upon receipt that policy will be reviewed accordingly. However, the relevant Chinese Walls would need to be put in place for Insider Dealing purposes between, in my and Slaughters' views, (a) on the one side, the Equity Traders and (b) on the other side, originators and traders, and persons involved in any corporate finance, M&A, Joint Venture, and financing activity. Not only would the Chinese Walls need to be implemented, but also they would need to be actively monitored by a Compliance Department in London to ensure that they were being observed and effective. In addition to the Houston Chinese Wall policy, there should be implemented both a "Watch List" and a "Restricted List" procedure (I understand the latter already exists and would need to be combined with additions to such list in London ) - the Watch List does not actively prevent trading in relevant securities, but is an intermediate step before a stock is placed on the Restricted List: i.e., companies in which Enron is involved in sensitive transactions would be placed on such a list and an internal Compliance Department should then actively monitor for any unusual deals by the Equity Traders (e.g., by volume etc) in stocks of the Companies on such list. If any irregular trading activity is then spotted - it could be internally investigated. Obviously, an internal procedure would need to be established to gather information on sensitive transactions so that they could be placed on the Watch / Restricted Lists as appropriate. Other Confidential Information In addition to any specific Insider Information, various Enron Group entities will be party to specific Confidentiality Agreements (or other forms of Agreement, e.g., Master Agreements, containing confidentiality clauses) with third parties, pursuant to which the Enron entities may have confidentiality obligations to those third parties and which may prevent the contracting Enron entities from disclosing certain information to affiliated Enron entities. Obviously, in order to comply with our various obligations in this regard we would need either to check each contract or ensure that Enron personnel were aware of their obligations in this regard and never disclosed to the London Equity traders any information covered by the confidentiality obligations. The Watch List could be used to log, for monitoring purposes, companies to whom Enron owes confidentiality obligations. Both with regard to Insider Information and this form of confidential information, employees would need to be actively trained to ensure that only generally available market sentiment on a third party could be passed on to the London Equity traders and not more specific information. Compliance Department If this proposal moves ahead, my suggestion is that Enron in London would need to hire an experienced Compliance professional for the following purposes:- active implementation of, review of, and consistent monitoring of, the Chinese Wall policy; active monitoring of executed deals against Watch and Restricted Lists; active monitoring of executed deals for Disclosable Interests in Shares in the UK and similar rules and prohibitions in other jurisdictions; handling SFA and LSE queries on Transaction Reporting; handling potential LSE and Takeover Panel queries on executed Transactions; and running continuous training courses for Enron personnel on Insider Dealing, confidentiality obligations, etc. In addition, such person could have responsibility for the implementation of, monitoring of, and ensuring compliance with, SFA Conduct of Business Rules and Moneylaundering compliance, and any relevant exchange rules, firm-wide in London across all of Enron's business - e.g., its OTC Derivatives' business. Kind regards Mark
BMC was able to get us the 23 tickets for the 19th. These will be Category 2 seating which I've been guaranteed is great. It seems that Category 1 seating has been scooped up by season ticket holders and other groups that also had early purchase opportunities - BMC alone is ordering over 500 tickets for its employees with our 23 tickets included in that number. Anyway, these tickets are $50 instead of $60 so those of you who have already put your checks in the mail will get a refund from me at some point. In the meantime, we can all mark up our calendars for the 19th of January. Cheers, cb > -----Original Message----- > From: Ballou, Chris > Sent: Wednesday, October 10, 2001 12:26 PM > To: 'Britt & Eric Chemla/Jones (E-mail)'; 'Cecily Horton (E-mail)'; > 'Brooke Stroud (E-mail 2)'; 'John & Angie Griffith/Paez (E-mail)'; 'John & > Angie Griffith/Paez (E-mail 2)'; 'John & Jean Geresi (E-mail)'; 'Nicole & > Ken O'Brien (E-mail)'; 'Peter & Linda Zweig (E-mail)'; '[email protected]'; > Brooke Stroud (E-mail); Debbie Breckeen (E-mail); Jill & Rob > Whitten/Proctor (E-mail) > Subject: RE: Let's go to the cirque > > OK. How does Saturday, January 19th, 2002 at 8PM sound? No one has > indicated that they have a conflict that day but it is MLK weekend. So > committing to this date precludes you from going away that weekend (or at > least forces you to sell your tickets.) So this email is to confirm that > all of you are in agreement with the chosen date. Please respond before > noon tomorrow. If I don't hear from you then I'll assume that you have no > objections. If there are a lot of objections then perhaps we should > consider the following weekend. > > There is one small problem. The offer my company has available requires > cash or check payment and there are now 23 of us going! That's $1380 and > I'm not able to front that much money. So I need checks from everyone > right away. I apologize for the inconvenience. I had no idea that credit > cards are not an option. You can either drop a check in my mail slot if > it's convenient or mail to the address below. > > Besides that, I'm very, very excited about the show in January. And yes, > I can say CIRCUS! > > Chris Ballou > 1725 Albans > Houston, TX 77005 > > -----Original Message----- > From: Ballou, Chris > Sent: Tuesday, October 09, 2001 1:03 PM > To: Britt & Eric Chemla/Jones (E-mail); Cecily Horton (E-mail); > Brooke Stroud (E-mail 2); David & Kathleen Jameson (E-mail); John & Angie > Griffith/Paez (E-mail); John & Angie Griffith/Paez (E-mail 2); John & Jean > Geresi (E-mail); Lana McBride (E-mail); Nicole & Ken O'Brien (E-mail); > Peter & Linda Zweig (E-mail); '[email protected]' > Subject: Let's go to the cirque > > Who wants to go see Cirque de Soleil's Dralion next year? BMC is a > corporate sponsor so I can buy tickets before they go on sale to the > public. > > The available dates are: > > Day Date Time > * PREMIERE January 17, 2002 8:00 p.m. > * Friday January 18, 2002 8:00 p.m. > * Saturday January 19, 2002 4:00 p.m. and 8:00 p.m. > * Sunday January 20, 2002 2:00 p.m. and 6:00 p.m. > * Saturday January 26, 2002 4:00 p.m. and 8:00 p.m. > * Sunday January 27, 2002 1:00 p.m. and 5:00 p.m. > * Saturday February 2, 2002 4:00 p.m. and 8:00 p.m. > * Sunday February 3, 2002 1:00 p.m. and 5:00 p.m. > * Saturday February 9, 2002 4:00 p.m. and 8:00 p.m. > * Sunday February 10, 2002 1:00 p.m. and 5:00 p.m. > * Saturday February 16, 2002 4:00 p.m. and 8:00 p.m. > * Sunday February 17, 2002 1:00 p.m. and 5:00 p.m. > Yes, this is a new show, not to be confused with Quidam which they > did the last time they were in Houston. Now here's how I think we should > handle this. Instead of your preferred date, respond to me by tomorrow > with the dates you are NOT available and I'll pick a date that avoids as > many scheduling conflicts as possible. The deal that my company is > offering requires the purchase of fifteen tickets for a given performance. > If they don't get 15, then we'll be offered an alternative date. Tickets > are $60 each. Let me know if you are interested in going and how many > tickets you want by tomorrow and I'll put it all together as a single > order. You can send me a check at the address below. > > Can you say CIRCUS! > > Chris Ballou > 1725 Albans > Houston, TX 77005 >
Carol St. Clair EB 3889 713-853-3989 (Phone) 713-646-3393 (Fax) [email protected] ----- Forwarded by Carol St Clair/HOU/ECT on 05/21/01 05:55 PM ----- Stephanie Panus@ENRON 05/21/01 10:16 AM To: Bob Bowen/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Andrea R Guillen/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Gordon Heaney/Enron@EnronXGate, Janie Aguayo/HOU/ECT@ECT, Derek Bailey/Enron@EnronXGate, Diane Anderson/NA/Enron@Enron, Scott Tackett/Enron@EnronXGate, Celeste Cisneros/Enron@EnronXGate, Kimberly Allen/ENRON@enronxgate, Julie Brewer/NA/Enron@Enron, Jason Fischer/NA/Enron@Enron, Jorge A Garcia/NA/Enron@Enron, Kimberly Hundl/Corp/Enron@Enron, Bianca Ornelas/NA/Enron@Enron, Melissa Ann Murphy/HOU/ECT@ECT, Dianne Seib/CAL/ECT@ECT, Kim S Theriot/HOU/ECT@ECT, Jean Bell/HOU/ECT@ECT, Sharen Cason/HOU/ECT@ECT, Melinda Whalen/CAL/ECT@ECT, Stephanie Piwetz/HOU/ECT@ECT, Melissa Rodriguez/HOU/ECT@ECT, Tiffany Williams/NA/Enron@Enron, William S Bradford/Enron@EnronXGate, Debbie R Brackett/Enron@EnronXGate, Tanya Rohauer/Enron@EnronXGate, Brant Reves/Enron@EnronXGate, Russell Diamond/Enron@EnronXGate, Lesli Campbell/Enron@EnronXGate, Wendi LeBrocq/Enron@EnronXGate, Edward Sacks/Enron@EnronXGate, Veronica Espinoza/Enron@EnronXGate, Veronica Gonzalez/Enron@EnronXGate, Paul Radous/Enron@EnronXGate, Jason R Williams/Enron@EnronXGate, Rudwell Johnson/Enron@EnronXGate, Darren Vanek/Enron@EnronXGate, Aparna Rajaram/Enron@EnronXGate, Wendy Conwell/Enron@EnronXGate, Ken Curry/Enron@EnronXGate, Tom Moran/Enron@EnronXGate, Nidia Mendoza/Enron@EnronXGate, Angela Y Brown/Enron@EnronXGate, Marilyn Colbert/Enron@EnronXGate, Diane Ellstrom/Enron@EnronXGate, Lynn E Shivers/LON/ECT@ECT, Bill D Hare/Enron@EnronXGate, Leslie Reeves/HOU/ECT@ECT, Jason Moore/Enron@EnronXGate, Samuel Schott/Enron@EnronXGate, Anthony Campos/HOU/ECT@ECT, Bernice Rodriguez/Enron@EnronXGate, Dale Neuner/Enron@EnronXGate, Karen Lambert/Enron@EnronXGate, Frank L Davis/Enron@EnronXGate, Carrie Southard/Enron@EUEnronXGate, Amber Ebow/Enron@EnronXGate, Stacey Richardson/HOU/ECT@ECT, Lisa Lees/Enron@EnronXGate, Camille Gerard/Enron@EnronXGate, Georgi Landau/NA/Enron@ENRON, Cheryl Johnson/Enron@EnronXGate, Stephanie Sever/Enron@EnronXGate, Sharon Crawford/CAL/ECT@ECT, Linda Sietzema/CAL/ECT@ECT, Brent Hendry/NA/Enron@Enron, Sara Shackleton/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT, Mary Cook/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Francisco Pinto Leite/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cheryl Nelson/NA/Enron@Enron, Frank Sayre/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Anne C Koehler/HOU/ECT@ECT, Angela Davis/NA/Enron@Enron, Holly Keiser/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT cc: Subject: Sacramento Municipal Utility District We have received an executed First Amendment to ISDA Master Agreement by and between Sacramento Municipal Utility District and Enron North America Corp. dated effective as of April 26, 2001, which attaches a Credit Support Annex to the existing Master Areement and amends certain other provisions in the Schedule. Copies will be distributed. Stephanie Panus
The following is a memo from accounting containing some new accounting codes you should be aware of. I should warn you that your timesheets must be approved by your supervisor; therefore, Code 5604 should not be used. It has come to our attention recently that many of you have been turning in timesheets that specify large amounts of "Miscellaneous? Unproductive Time" (Code 5309). To our department, unproductive time isn't a problem. What is a problem, however, is not knowing exactly what you are doing during your unproductive time. Attached below is a sheet specifying a tentative extended job code list based on our observations of employee activities. The list will allow you to specify with a fair amount of precision what you are doing during your unproductive time. Please begin using this job code list immediately and let us know about any difficulties you encounter. Thank you, Accounting. Attached: Extended Job Code List Code Number Explanation ---------- ----------- 5316 Useless Meeting 5317 Obstructing Communications at Meeting 5318 Trying to Sound Knowledgeable While in Meeting 5319 Waiting for Break 5320 Waiting for Lunch 5321 Waiting for End of Day 5322 Vicious Verbal Attacks Directed at Coworker 5323 Vicious Verbal Attacks Directed at Coworker While Coworker is Not Present 5393 Covering for Incompetence of Coworker Friend 5394 Blaming Incompetence of Coworker Who is Not a Friend 5400 Trying to Explain Concept to Coworker Who is Not Interested in Learning 5401 Trying to Explain Concept to Coworker Who is Stupid 5402 Trying to Explain Concept to Coworker Who Hates You 5481 Buying Snack 5482 Eating Snack 5500 Filling Out Timesheet 5501 Inventing Timesheet Entries 5502 Waiting for Something to Happen 5503 Scratching Yourself 5504 Sleeping 5510 Feeling Bored 5600 Complaining About Lousy Job 5601 Complaining About Low Pay 5602 Complaining About Long Hours 5603 Complaining About Coworker (See Codes #5322 & #5323) 5604 Complaining About Boss 5605 Complaining About Personal Problems 5640 Miscellaneous Unproductive Complaining 5701 Not Actually Present At Job 5702 Suffering From Eight-Hour Flu 6102 Ordering Out 6103 Waiting for Food Delivery to Arrive 6104 Taking It Easy While Digesting Food 6200 Using Company Resources for Personal Profit 6201 Stealing Company Goods 6202 Making Excuses After Accidentally Destroying Company Files 6203 Using Company Phone to Make Long-Distance Personal Calls 6204 Using Company Phone to Make Long-Distance Personal Calls to Sell Stolen Company Goods 6205 Hiding from Boss 6206 Gossip 6207 Planning a Social Event (e.g. vacation, wedding, etc.) 6210 Feeling Sorry For Yourself 6211 Updating Resume 6212 Faxing Resume to Another Employer/Headhunter 6213 Out of Office on Interview 6221 Pretending to Work While Boss Is Watching 6222 Pretending to Enjoy Your Job 6223 Pretending You Like Coworker 6224 Pretending You Like Important People When in Reality They are Jerks 6238 Miscellaneous Unproductive Fantasizing 6350 Playing Pranks on the New Guy/Girl 6601 Running your own Business on Company Time (See Code #6603) 6602 Complaining 6603 Writing a Book on Company Time 6611 Staring Into Space 6612 Staring At Computer Screen 6615 Transcendental Meditation 7281 Extended Visit to the Bathroom (at least 10 minutes) 7400 Talking With Divorce Lawyer on Phone 7401 Talking With Plumber on Phone 7402 Talking With Dentist on Phone 7403 Talking With Doctor on Phone 7404 Talking With Masseuse on Phone 7405 Talking With House Painter on Phone 7406 Talking With Personal Therapist on Phone 7419 Talking With Miscellaneous Paid Professional on Phone 7931 Asking Coworker to Aid You in an Illicit Activity 8000 Recreational Drug Use 8001 Non-recreational Drug Use 8002 Liquid Lunch 8100 Reading e-mail 8101 Distributing humorous e-mails
-------------------------------------------------- Telecommunications Reports presents.... TR DAILY June 4, 2001 -------------------------------------------------- PLEASE NOTE: This electronic publication is copyrighted by Telecommunications Reports International. Redistribution or retransmission of any part of this electronic publication -- either internally or externally -- is strictly prohibited. Violation will be cause for immediate termination of your subscription and liability for damages. You may print out one hard copy for your personal use. If you are interested in having this publication sent to colleagues at your company, additional authorized recipients may be added to your subscription for a fee. Call Subscriber Services, at (800) 822-6338, or send an e- mail to [email protected] for more details. If you prefer not to receive TR Daily, please reply to [email protected]. -------------------------------------------------- Table Of Contents Click here for the full issue: http://www.tr.com/online/trd/2001/td060401/index.htm HOLLINGS FAVORS SMALLER COMMERCE COMMITTEE; INOUYE SET TO RETAKE COMMUNICATIONS GAVEL http://www.tr.com/online/trd/2001/td060401/Td060401.htm TECH COALITION BACKS BUSH's CALL TO EXTEND CHINA's TRADE STATUS http://www.tr.com/online/trd/2001/td060401/Td060401-01.htm HEALTH RESEARCHERS TO SETTLE LAWSUIT OVER USE OF PRIVATE CELLPHONE RECORDS http://www.tr.com/online/trd/2001/td060401/Td060401-02.htm CLEC ASKS FCC TO STAY RECIPROCAL COMPENSATION ORDER http://www.tr.com/online/trd/2001/td060401/Td060401-03.htm NEWS IN BRIEF http://www.tr.com/online/trd/2001/td060401/Td060401-04.htm ************************************************************* HOLLINGS FAVORS SMALLER COMMERCE COMMITTEE; INOUYE SET TO RETAKE COMMUNICATIONS GAVEL It's still too early in the Senate transition game to tell which issues -- telecom related or not -- will come to a head under a Democratic-led Commerce, Science, and Transportation Committee. But incoming Chairman Ernest F. Hollings (D., S.C.) already has singled out one item for immediate attention -- downsizing the Commerce Committee. The panel gained two seats for a total of 22 at the outset of the 107th Congress. Under a Senate "power-sharing" pact that went into effect last January, all the committees were drawn up to reflect the Senate's 50-50 split between Democrats and Republicans (TR, Jan. 15). But with Sen. James Jeffords's (R., Vt.) departure from the GOP expected to take effect this week, Democrats are pushing a new reorganization plan that would give them a one-seat advantage on each committee. For the Commerce Committee, Sen. Hollings prefers trimming a Republican from the panel rather than adding a Democrat, his spokesman said. "He feels the Commerce Committee is starting to get too large and plans to work with [incoming Majority Leader Thomas A.] Daschle [D., S.D.] to come up with a final determination," the spokesman told TR today. It is too early to discuss specific Commerce Committee agenda items for the remainder of the year, the Hollings spokesman said. But before he begins pushing an agenda, Sen. Hollings will confer with current Commerce Committee Chairman John McCain (R., Ariz.), he added. "While the committee's priorities have yet to be determined, the style in which they work won't be changing," the spokesman said. "Clearly, Sens. McCain and Hollings have a long-standing, working relationship. . .and cover issues that transcend party lines. They pride themselves on moving things out of that committee in bipartisan fashion, and that isn't going to change," he added. On the telecom front, Sen. Hollings is in line to become chairman of the communications subcommittee, but he's not expected to assume that post. Instead, the subcommittee's gavel likely will return to Sen. Daniel K. Inouye (Hawaii), who last held the top spot there in 1994. A Hollings-Inouye pairing would be good news for those who don't want Congress to overhaul the Telecommunications Act of 1996. Earlier this year, Sens. Inouye and Hollings were two of four senators who called on FCC Chairman Michael K. Powell to maintain the "strict adherence and strong enforcement" of the local market-opening mandates spelled out in sections 251 and 271 of the Act (TR, April 30). Sen. Inouye also has pressed the FCC for quick action on Northpoint Technologies Ltd.'s applications to operate in the Ku- band (TR, May 28), and he was an original cosponsor to a bill, S 414, to set up a new telecom program to be administered by the Commerce Department's National Telecommunications and Information Administration (TR, March 5). For current communications subcommittee Chairman Conrad Burns (R., Mont.), the loss of the gavel shouldn't disrupt the rollout of his "tech seven" agenda of telecom and Internet issues, his spokeswoman said. "It's still his top priority," she said. Sen. Burns "enjoys a good working relationship with [Sen.] Hollings and feels they'll move the tech seven agenda." *********************************************************** TECH COALITION BACKS BUSH's CALL TO EXTEND CHINA's TRADE STATUS A coalition of groups representing telecom equipment and high- tech companies today said Congress should extend normal trade relations (NTR) status with China for another year. The U.S. High-Tech Industry Coalition said it "strongly endorsed" President Bush's call for such an extension. Extending China's normal trade status would "protect current U.S. high-tech investments and businesses in China, thus enhancing opportunities for increased market access once China formally joins the World Trade Organization," the coalition said. China is "moving toward completing" all of its accession procedures for joining the WTO, it added. The coalition includes the AeA (formerly the American Electronics Association), the Computer & Communications Industry Association, Information Technology Association of America, Information Technology Industry Council, and the Telecommunications Industry Association. *********************************************************** HEALTH RESEARCHERS TO SETTLE LAWSUIT OVER USE OF PRIVATE CELLPHONE RECORDS The group that led a six-year, $27 million industry-funded effort to study the health effects of mobile phones has agreed to settle a class-action lawsuit. The suit was filed in 1995 on behalf of mobile phone users who claimed their privacy was invaded. Their phone records were reviewed without their permission as part of the research project, the plaintiffs said. Wireless Technology Research LLC has agreed to turn over the remaining $1.4 million of a $2 million insurance policy that the wireless industry purchased for it in the wake of the litigation. As part of the settlement agreement, $250,000 of those funds will be set aside to fund a voluntary, surveillance registry to assess whether there is a link between mobile phone use and illnesses. The registry will be run by WTR Chairman George L. Carlo, who had a falling out with the wireless industry after he accused it of failing to act on research that he said indicated a link between mobile phone use and adverse health effects. The settlement also reserves $150,000 for future legal expenses of Mr. Carlo and WTR. In addition, mobile phone subscribers included in the class would get a 50% discount on a book Mr. Carlo co-authored last year, "Cell Phones: Invisible Hazards in the Wireless Age." Attorneys for the plaintiffs in "Jerald P. Busse et al. v. Motorola, Inc. et al." (case no. 95 CH 10332) have asked the Cook County, Ill., Circuit Court to hold a hearing Thursday on the proposed settlement. If the court approves the agreement, WTR would be dropped from the lawsuit, but other defendants from the wireless industry would remain. An aide for Mr. Carlo told TR today he couldn't discuss the settlement until it is finalized. Michael F. Altschul, senior vice president-policy and administration and general counsel for the Cellular Telecommunications & Internet Association, which is a defendant in the case, also declined to comment, saying industry attorneys were reviewing the proposed settlement. *********************************************************** CLEC ASKS FCC TO STAY RECIPROCAL COMPENSATION ORDER Competitive local exchange carrier (CLEC) Core Communications, Inc. (CoreTel) has asked the FCC to stay the effectiveness of a recent order overhauling reciprocal compensation rules. The new rules are designed to phase out payments received by carriers for connecting calls to Internet service providers (ISPs). CoreTel said the order could force it to abandon some of its markets. CoreTel took issue with two provisions of the order in Common Carrier dockets 96-98 and 99-68 (TR, April 23). One is the ban on carriers' receiving reciprocal compensation for terminating calls to ISPs in any new markets entered after the adoption of the order. The other is the "growth cap" provision, which limits annual increases in a carrier's reciprocal compensation revenue. The order allows CLECs that already are operating in a particular geographic area to continue receiving reciprocal compensation revenues up to the limit set by the growth cap, while hampering new CLECs, CoreTel noted. That situation puts new CLECs entering those markets at an "extreme competitive disadvantage," it said. "The business that CoreTel will lose as a result of these new rules and the competitive advantage they confer on established CLECs is incalculable and irremediable at some later date," CoreTel said. It will suffer "irreparable harm" if the provisions aren't stayed pending judicial review, the company added. *********************************************************** NEWS IN BRIEF New FCC Cable Bureau Chief Kenneth Ferree has announced that senior legal advisor Clint Odom has left his staff and that Thomas Horan, an attorney in the FCC consumer protection and competition division, has succeeded Mr. Odom. Mr. Odom was a legal adviser to former FCC Chairman William E. Kennard before joining the Cable Bureau.... President Bush has signed an executive order allowing the Information Technology Advisory Committee to operate for another two years, until June 1, 2003. Former President Bill Clinton established the panel by executive order in February 1997.... Robert A. Kaiser has been appointed president and chief executive officer at MobileStar Network Corp., a wireless broadband provider based in Richardson, Texas. He was CEO at WorldCom Broadband Solutions Group and before that was CEO and chief financial officer at SkyTel, Inc.... John Windolph has been named senior vice president-business development for the Cellular Telecommunications & Internet Association. Previously, he was executive VP and chief marketing officer for Lowe Lintas & Partners, an advertising agency, and VP-marketing communications for Iridium LLC. He succeeds George Shaginaw, who will become full-time president and chief executive officer of CIBERNET, a CTIA subsidiary.... Tayo Ogundipe has been promoted to vice president-finance at UbiquiTel, Inc. He joined UbiquiTel in April 2000 as finance director. Previously, he was with the wireless division of Southwestern Bell Corp. (now SBC Communications, Inc.) and Comcast Cellular Communications. UbiquiTel is a Sprint PCS wireless affiliate based in Conshohocken, Penn.... Deborah Edlund has been named vice president-U.S. sales for MCK Communications, Inc. She was VP-distribution sales at Fujitsu Business Communications Systems. MCK also promoted Marc Flynn to VP-international sales. He has held sales posts at Bell Canada, Memotec General Datacomm, and ADTRAN. MCK said that Jeff Dickerson, senior VP-worldwide sales, is leaving the company. Mr. Dickerson's plans were not revealed. MCK is a telecom network equipment provider based in Needham, Mass.... Kent Larsen has joined the Washington law firm of Bennet & Bennet PLLC as a senior communications consultant. He has more than 17 years of experience as a telecom industry consultant.... The FCC has begun a new e-mail service to tell consumers about developments at the agency, disseminate consumer information, and invite comments on FCC proposals. The service is operated by the consumer education office of the FCC's Consumer Information Bureau. To subscribe, send an e-mail to [email protected], and write "subscribe fcc-consumer-info firstname lastname" in the subject line or body of the message.... Nortel Networks Corp. will issue new stock options to many employees whose options have been rendered worthless by the dip in Nortel's stock price, the company said today. As of May 31, about 333 million options to buy Nortel shares were outstanding. Around a third of those will be eligible for the exchange program, Nortel said. "This is an extraordinary step that is essential so we may continue to attract, retain, and reward our talent in a highly competitive labor market," said John Roth, Nortel's president and chief executive officer.... An alliance of information and communications technology companies is launching a global initiative to improve the environment and support sustainable development by saving energy, minimizing waste, and bridging the digital divide, the International Telecommunication Union (ITU) said today. The Global e-Sustainability Initiative (GeSI) is supported by the ITU and the United Nations Environment Program. It will help conduct research over the next two years on how communications companies can be more environmentally and socially responsible. Founding members include AT&T Corp., British Telecommunications plc, Cable & Wireless plc, Deutsche Telekom AG, LM Ericsson AB, Lucent Technologies, Inc., Telenor AS, and the European Telecommunications Network Operators Association. GeSI will be launched June 5 on World Environment Day in Turin, Italy. For more information, go to http://www.gesi.org.... The number of CDMA (code-division multiple-access) subscribers grew to 90 million in March, a 58% jump over the previous year, according to the CDMA Development Group. The Asia Pacific region remained the largest CDMA market, with nearly 40 million sub- scribers, while North America was second with 33.8 million subscribers. Latin America saw the fastest growth in CDMA usage, 144%, bringing its subscribership to 15.9 million. ****************************************************** TR DAILY Copyright 2001 Telecommunications Reports International, Inc., (ISSN 1082-9350) is transmitted weekdays, except for holidays. Visit us on the World Wide Web at http://www.tr.com. Published by the Business & Finance Group of CCH INCORPORATED. Associate Editor: Tom Leithauser Associate Editor: Ryan Oremland Associate Editor: Ed Rovetto Editor in Chief: Victoria A. Mason Publisher: Stephen P. Munro 1333 H Street, NW, 1st Floor-East Tower, Washington, DC 20005 Editorial Information: Telephone: (202) 312-6060 Fax: (202) 842-3047 Email: [email protected] Customer Service: Telephone: (202) 312-6050 (877) 874-8737 Fax: (202) 842-3023 Email: [email protected] Federal copyright law prohibits duplication or reproduction in any form, including electronic, without permission of the publisher.:
[IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Updated: Jan. 9, 2002 [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] New year offers a host of new energy situations For the year, utilities as a whole were one of the slumping economy's bright spots. According to Standard & Poor's, a division of The McGraw-Hill Cos. Inc. and a sister company to Platts, the sector reported earnings advances in the... [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Tabled, canceled project numbers climbing People will pay more for green Interested parties rarely seek out green [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Shedding light on power prices EU study shows end of price transparency Denmark residential customers pay more VAT impacts prices [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Scaled-back Alaskan pipeline proposal in works Alaska Highway project looks for approval U.S./Canada border issue still barrier [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] PNM terminates merger with Western Resources full story... Nine states will sue if pollution controls are weakened full story... PJM submits application to oversee Southeast RTO full story... UK's Enterprise rejects unsolicited bid full story... Apache announces exploration success in Egypt full story... Fuel cell companies jump on anticipation of DOE initiative full story... Enron to continue Latin America gas, power trading full story... Alberta utility gets okay to build coal-fired plant full story... NEI: No benefit to federalizing U.S. nuke plant security full story... AstroPower to supply solar electric home power systems full story... To view all of today's Executive News headlines, click here [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] Copyright ? 2001 - Platts, All Rights Reserved [IMAGE] Market Brief Tuesday, January 8 Stocks Close Change % Change DJIA 10,150.55 (46.5) -0.46% DJ 15 Util. 292.25 (4.0) -1.36% NASDAQ 2,055.73 18.62 0.91% S&P 500 1,160.70 (4.2) -0.36% Market Vols Close Change % Change AMEX (000) 134,674 (6,359.0) -4.51% NASDAQ (000) 1,862,541 (248,903.0) -11.79% NYSE (000) 1,242,380 (62,857.0) -4.82% Commodities Close Change % Change Crude Oil (Feb) 21.25 (0.17) -0.79% Heating Oil (Feb) 0.5695 (0.001) -0.18% Nat. Gas (Henry) 2.3 0.030 1.32% Propane (Feb) 30.25 0.00 0.00% Palo Verde (Feb) 24.75 0.00 0.00% COB (Feb) 24.75 0.00 0.00% PJM (Feb) 27.55 0.00 0.00% Dollar US $ Close Change % Change Australia $ 1.908 (0.020) -1.04% Canada $ 1.59 (0.004) -0.25% Germany Dmark 2.19 0.004 0.18% Euro 0.8919 (0.001) -0.17% Japan ?en 132.8 1.800 1.37% Mexico NP 9.18 0.030 0.33% UK Pound 0.6949 (0.0002) -0.03% Foreign Indices Close Change % Change Arg MerVal 343.22 0.00 0.00% Austr All Ord. 3,364.20 (21.10) -0.62% Braz Bovespa 14167.58 (211.01) -1.47% Can TSE 300 7782.00 (88.30) -1.12% Germany DAX 5236.37 4.15 0.08% HK HangSeng 11713.71 (178.93) -1.50% Japan Nikkei 225 10695.6 (246.76) -2.26% Mexico IPC 6641.14 75.70 1.15% UK FTSE 100 5,250.40 (43.20) -0.82% Source: Yahoo!, TradingDay.com and NYMEX.com [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] [IMAGE] - Market briefs.xls - bug_black.gif
1. &Ancillary Services8 or &AS8 means those services required by Entergy,s interconnection agreement with MDEA or Entergy,s tariff. OR &Ancillary Services8 or &AS8 means those services recognized by Entergy,s interconnect agreement with MDEA or Entergy,s tariff. 2.&Available Energy8 means Energy that is available for sale on any given day that is in excess of MDEA,s Native Load. OR &Available Energy8 means Energy that is available for sale on any given day that is in excess of (i) MDEA,s Native Load, and (ii) the Energy required to be sold under any Existing Transactions, up to the total amount of Energy on any day that can be produced from the Facilities. 3.&Available Energy8 means Energy that is available for sale on any given day that is in excess of MDEA,s Native Load. OR &Available Energy8 means Energy that is available for sale on any given day that is in excess of (i) MDEA,s Native Load, and (ii) the Energy required to be sold under any Existing Transactions, up to the total amount of Energy on any day that can be produced from the Facilities. 4.&Confirmation8 means a confirmation of a transaction or transactions. OR &Confirmation8 means the document provided for under the MPPSA or the MGPSA and with the corresponding third party under a Back-to-Back Transaction or with EPMI which specifies the Product being bought or sold, the duration of the Transaction and the other terms, including price. A daily report of all hourly (or similarly short term) purchases and sales will be provided to the Customer and shall serve as a Confirmation for those transactions under the MPPSA or MGPSA. 5.&Delivery Point8 means the busbar of the respective Facilities located at the interconnection between CPUC,s and YCPSC,s respective transmission systems at the 115 kV switching station at the respective interconnections with the Entergy transmission system. Or &Delivery Point8 &Point of Delivery8 or &POD8 means (a) for power (i) the interfaces located at the interconnection between Clarksdale and Yazoo City transmission systems at the Entergy system, or (ii) the point specified in any Back-to-Back Transaction, EPMI Transaction or Structured Transaction at which Products are to be tendered under a Confirmation; (b) for natural gas, (i) for Clarksdale, the point of interconnection between Texas Gas and Clarksdale (ii) for Yazoo City, the interconnection between Southern Natural Gas (Sonat) and Mississippi Valley Gas for the Yazoo City Power Plant (the Sonat Delivery Point) (iii) the interconnection between Mississippi Valley Gas (MVG) and the Yazoo City Power Plant (MVG Delivery Point), (iv) any point where fuel is delivered as specified in a Fuel Transaction. 6.&Incentive Fee8 means forty percent (40%) of the Savings and of the net profit from external sales of the Cities, natural gas resources and the purchase of on-peak Energy, as calculated in accordance with Article III of this ILA. Or &Incentive Fee8 means the fee described in [Section]. 7.&Market Price8 is the price agreed by the parties to be paid by EPMI in any EPMI Transaction for the sale of Energy to third parties, or the amount to be paid to EPMI for the sale of Energy to the Cities and/or MDEA. or &Market Price8 is the price agreed to (i) by any third party for the sale or purchase to or from EPMI or MDEA in a Back-to-Back Transaction, (ii) the price paid by EPMI in any EPMI Transaction or (iii) by any third party pursuant to any Structured Transaction. 8. &Protocols8 shall mean the SPP Protocols duly adopted by SPP, including any attachments or exhibits referenced thereby, as amended from time to time, containing the scheduling, operating, planning, reliability, and settlement (including customer registration) policies, rules, guidelines, procedures, standards, and criteria of SPP. For the purposes of determining responsibilities and rights at a given time, the Protocols, as amended in accordance with the change procedure(s) described in the Protocols, in effect at the time of the performance or non-performance of an action, shall govern with respect to that action. or &Protocols8 shall mean the Protocols duly adopted by SPP, SERC, NERC, and/or Entergy, including any attachments or exhibits referenced thereby, as amended from time to time, containing the scheduling, operating, planning, reliability, and settlement (including customer registration) policies, rules, guidelines, procedures, standards, and operations criteria. For the purposes of determining responsibilities and rights at a given time, the Protocols, as amended in accordance with the change procedure(s) described in the Protocols, in effect at the time of the performance or non-performance of an action, shall govern with respect to that action. 9.&Savings8 shall mean the difference between 1) the total costs to MDEA and/or the Cities of a Transaction, and 2) the total costs of MDEA and/or the Cities avoided or displaced by the Transaction, which difference shall be calculated as described in Article III of this ILA. not defined in rev 23 definitions
Thanks Dutch. I look forward to hearing your thoughts on this. These are pretty basic questions, so do you think you have answers for me by end of the week? Please let me know if you need clarification. Thanks again, Ann [email protected] om To: Ann S. Chen/Internal/Accenture@Accenture cc: 11/08/2001 09:07 AM Subject: RE: Questions regarding storage I canceled this meeting , I will look at the info and get back to you -----Original Message----- From: [email protected]@ENRON Sent: Thursday, November 08, 2001 8:44 AM To: Quigley, Dutch Subject: RE: Questions regarding storage Hi Dutch -- Yes, we can discuss this at the 2:30 meeting. Talk to you then! Ann [email protected] om To: Ann S. Chen/Internal/Accenture@Accenture cc: 11/07/2001 03:45 PM Subject: RE: Questions regarding storage Anne Can we discuss this tomorrow when I meet from 2:30 to 4:30 dq -----Original Message----- From: [email protected]@ENRON Sent: Wednesday, November 07, 2001 3:30 PM To: Quigley, Dutch Subject: Questions regarding storage Hi there Dutch! How are you? Hope you're doing well. We having been working on a storage problem that Philip as given us the framework for. In working out the details, we've come across a few questions that we know you can help us answer. I've included Philip's description of this problem in the word doc below, just for reference. 1) In Philip's document, he lists discount factors over the months. We understand that since the users are making storage decisions and hedging future months, they need to take time value of money into account. What is actually being discounted? Is it NYMEX? Is it prices of the instruments? How does that factor into user's storage decisions? 2) In our problem, we ask the user to fill out a storage schedule and then select instruments to hedge positions created by the storage. In our other scenarios we have initial and natural position split out into the Enron risk buckets (Price, Index, Basis, GD) and have users choose the appropriate hedging instruments based on the risk areas the instruments cover. In this storage scenario, the only positions created are by storage decisions. What risk bucket would storage create a position in? My thoughts are that if the only positions created are by storage, then would the user really need only 1 type of instrument to hedge their risks? Thanks in advance for your help, Dutch! Ann (See attached file: Storage Problem.doc) This message is for the designated recipient only and may contain privileged, proprietary, or otherwise private information. If you have received it in error, please notify the sender immediately and delete the original. Any other use of the email by you is prohibited. - Storage Problem.doc << File: Storage Problem.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. ******************************************************************** This message is for the designated recipient only and may contain privileged, proprietary, or otherwise private information. If you have received it in error, please notify the sender immediately and delete the original. Any other use of the email by you is prohibited. This message is for the designated recipient only and may contain privileged, proprietary, or otherwise private information. If you have received it in error, please notify the sender immediately and delete the original. Any other use of the email by you is prohibited.
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]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[email protected]'" <[email protected]>, "'[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]>, "'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
Please print the messages below. Thank you. -----Original Message----- From: Rob Walls <[email protected]>@ENRON [mailto:IMCEANOTES-Rob+20Walls+20+3Crwallsjr+40yahoo+2Ecom+3E+40ENRON@ENRON.com] Sent: Sunday, April 08, 2001 6:24 PM To: Derrick Jr., James Subject: Fwd: Re: Dabhol Power Project - MSEB and GOM Arbitrations Note: forwarded message attached. Do You Yahoo!?Yahoo! Mail Personal Address - Get email at your own domain with Yahoo! Mail. X-Apparently-To: [email protected] via web12601.mail.yahoo.com X-Track: 1: 40 Received: from outbound5.enron.com (EHLO postmaster.enron.com) (192.152.140.9) by mta225.mail.yahoo.com with SMTP; 08 Apr 2001 09:49:40 -0700 (PDT) Received: from mailman.enron.com (mailman.enron.com [192.168.189.66]) by postmaster.enron.com (8.10.1/8.10.1/external_corp-1.08) with ESMTP id f38GnY622448 for <[email protected]>; Sun, 8 Apr 2001 11:49:34 -0500 (CDT) Received: from nahou-msmsw01px.corp.enron.com ([172.28.10.37]) by mailman.enron.com (8.10.1/8.10.1/corp-1.05) with ESMTP id f38GnWL20615 for <[email protected]>; Sun, 8 Apr 2001 11:49:32 -0500 (CDT) Received: from ene-mta01.enron.com (unverified) by nahou-msmsw01px.corp.enron.com (Content Technologies SMTPRS 4.1.5) with ESMTP id <[email protected]>; Sun, 8 Apr 2001 11:49:31 -0500 Subject: Re: Dabhol Power Project - MSEB and GOM Arbitrations To: [email protected] Cc: [email protected], [email protected], [email protected] From: [email protected] Date: Sun, 8 Apr 2001 11:49:28 -0500 Message-ID: <[email protected]> X-MIMETrack: Serialize by Router on ENE-MTA01/Enron(Release 5.0.6 \|December 14, 2000) at 04/08/2001 11:45:34 AM MIME-Version: 1.0 Content-type: text/plain; charset="us-ascii" Content-Length: 3905 Christopher - I agree with your observations. It seems to me that we want to consolidate our Dec/Jan/Good Interest into one arbitration against each of MSEB and GOM, rather than separate the claims further and thereby encourage MSEB/GOM to cure some claims (e.g., Dec/Good Interest) and leave the January claim hanging out there alone. I understand your issues with rag-tag but am assuming that the rag-tag label does not apply to Good Interest. Thanks, Bruce "Walker, Christopher" <[email protected]> on 04/08/2001 06:44:19 AM To: "'[email protected]'" <[email protected]>, "Walker, Christopher" <[email protected]> cc: [email protected], [email protected] Subject: Dabhol Power Project - MSEB and GOM Arbitrations Bruce, I think that part of the plan discussed in London has simply been superceded by events. In particular,the corporate decision about what the end game and desired end result are to consist in. Accordingly,I now look upon the proposed GOM and MSEB arbitrations as primarily a means of setting up the case for PPA termination in due course. In the light of this:- (1) The MSEB arbitration ought now to deal with misdeclaration and claim payment of the January 2001 billing,as well as the December 2001 billing. I expect that we shall also put in the subsequent misdeclaration episodes. I see little value in putting in the older claims (i.e., the arrears and sums withheld),mainly because Kelly Quinn's analysis of them tends to show that many of DPC's claims are dud. (2) There is no longer any useful purpose served in stripping the MSEB arbitration down to misdeclaration only. Further,not merely I am more convinced than I was that the MSEB was not entitled to withhold against the December 2000 billing,but I think that DPC has a 50:50 case that the MSEB was obliged to pay the January 2001 billing clean. (3) As I see it,there will be two arbitrations against GOM (the SSA and the Guarantee) and one against the MSEB. However,if we wish to harass the GOM and set up further PPA termination grounds,we might well wish to do something forceful and litigious when (as I confidently predict) the notice under the escrow agreement is not responded to by the MSEB and the Indian banks. The notice only really works as and when the Indian banks are threatened. -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Sunday, April 08, 2001 7:12 PM To: [email protected] Cc: [email protected]; [email protected] Subject: MSEB and GOM Arbitrations Christopher - Help me to understand the plan for the MSEB and GOM arbitrations for December, January and Interest. In how many pieces do we anticipate submitting these arbitrations? What strategy is behind the submission of separate submissions? I remember that we wanted to separate the MSEB January submission, at one point, to hasten the disposition of the misdeclaration issue. Does this make sense given the events of the last few weeks and the sponsors' sentiments about additional capital for the project? Thanks, Bruce _____________________________________________________________ This e-mail is sent by or on behalf of Linklaters, 10/F Alexandra House, Chater Road, Hong Kong. A list of the firm's principals will be provided to the recipient(s) of this email upon request. This statement is made in compliance with the Law Society of Hong Kong's Practice Direction on the Format of Electronic Communications. This message is confidential. It may also be privileged or otherwise protected by work product immunity or other legal rules. If you have received it by mistake please let us know by reply and then delete it from your system; you should not copy the message or disclose its contents to anyone. _____________________________________________________________
I'm not quite sure how this exchange began, but it sounds like Kroum is referring to several different issues here. First of all, our forward obligation report does not reflect cross-portfolio deals, an application issue that Will Smith, and it looks like Kroum as well, has been working on for the past few weeks. Also, deal 498488 is a forward deal done on EOL between STSW and their own desk. I haven't seen a trade WITHIN a desk before, but I'm sure anything is possible. At any rate, this doesn't look like a cross-portfolio deal at all. Am I missing something? As for the zeroed out deals, I'm pretty sure everyone here knows how to properly kill deals in Enpower; however, it takes so long that sometimes we simply zero out the volume in the interest of time. I've often wondered if this litters the system and makes it more confusing for other people to do their jobs - do you know anything about that? I just thought I'd ask these questions while the subject was being raised. Please let me know if I can help facilitate these changes or improvements in any way. Thanks, Kate ---------------------- Forwarded by Kate Symes/PDX/ECT on 02/12/2001 03:18 PM --------------------------- From: Kroum Kroumov/ENRON@enronXgate on 02/12/2001 11:02 AM CST To: Cara Semperger/PDX/ECT@ECT cc: Monica Lande/PDX/ECT@ECT, Kate Symes/PDX/ECT@ECT Subject: RE: FW: FWDOBL Cara, I think the report should work that way even now. I think I found a deal like that 498488 between EPMI Southwest and EPMI Southeast, Region R7, please take a look at that when you test the report. I saw lots of deals on the report with volume 0 and price 0, they were entered that way in Portland. There might be another reason, but I think someone wanted to kill the deals. There is an option in Deal Entry to do that, if one opens a deal and right click with the mouse on the status (Done), one can kill a deal. Kroum -----Original Message----- From: Semperger, Cara Sent: Thursday, February 08, 2001 1:06 PM To: Kroumov, Kroum Cc: Lande, Monica; Symes, Kate Subject: Re: FW: FWDOBL The "two sides of a cross-portfolio deal" language is a bit vague and misleading. A cross-portfolio deal is kind of like a desk to desk deal. Another Enron book has traded with one of ours. Two important things need to happen with cross-portfolio deals. 1. They need to only show on the forward obligation report when "Desk to Desk" is selected. 2. They are only financial in nature, no physical delivery is ever done cross portfolio. I don't think "both sides" is correct. We need to only see our buy or our sale when we query for our point. When the other portfolio queries their stuff, they should see their side. C From: Kroum Kroumov/ENRON@enronXgate on 02/08/2001 11:36 AM CST To: Cara Semperger/PDX/ECT@ECT cc: Subject: FW: FWDOBL Cara, This is all I have so far. I would appreciate your help to make it clearer. If you find a deal No like that, I think it will make my job easier. Thanks, Kroum -----Original Message----- From: Project Manager<[email protected]>@ENRON [mailto:IMCEANOTES-Project+20Manager+3CUnknown+2EMan+40enron+2Ecom+3E+40ENRON@ ENRON.com] Sent: Thursday, February 08, 2001 10:31 AM To: Kroumov, Kroum Subject: FWDOBL Forward Obs should show two sides of a Cross-Portfolio deal. Find out what needs to be done. Contact Monica Lande or Kate Symes in Portland for more details
Hi, I'm back. Please fax the IRS notice to me at the number below if you haven't already and I'll review it for you. Regarding the counselling session, I am available tomorrow all day, Wednesday afternoon after 1:30pm, Thursday afternoon after 2pm and Friday after 2pm. Next week I'll be out of the office Tuesday and Wednesday as well as Thursday afternoon. The next week I am out of the office on a course all week (Sept 8-14). Will any of these time slots work for you? Judy Perdomo PricewaterhouseCoopers Calgary International Assignment Solutions (403) 509-7470 Fax (403) 781-1825 "Tycholiz, Barry" To: Judith L. Perdomo/CA/TLS/PwC@Americas-CA <Barry.Tycholiz@ cc: ENRON.com> Subject: RE: Counselling 08/13/2001 11:04 AM Send me a note when you get back and we can set up a meeting then. Also, I received a notice from the IRS and it appears that they were missing information on my wife and as such disallowed me claiming her as a dependent. I will send to your attention to review and clarify. Based on my filing and actual refund there is about a $ 1k difference which I believe is owed to me. BT -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Tuesday, August 07, 2001 10:21 AM To: Tycholiz, Barry Subject: Counselling Good morning Barry, Just to let you know that I am on holidays August 11-26, so your counselling will have to be this week or when I return. Did Enron provide you with approval for a "Post Arrival Consultation"/PAC? This is the counselling our PwC Houston office does. (So, in effect there are two possible counselling sessions for assignees - the predeparture counselling you are supposed to receive before you depart Canada and then there's the PAC). PwC Houston is prepared to set up the "PAC" - they simply want to know if you received approval for it. Thanks, Judy Perdomo PricewaterhouseCoopers Calgary International Assignment Solutions (403) 509-7470 Fax (403) 781-1825 ---------------------------------------------------------------- The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer. ******************************************************************** 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. ******************************************************************** ---------------------------------------------------------------- The information transmitted is intended only for the person or entity to which it is addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient is prohibited. If you received this in error, please contact the sender and delete the material from any computer.
Sorry I didn't forwarn you so you could choose to re-schedule. Funny how things can change in just one week! Suzanne is awesome - don't know what I would do without her. We just went to Berryhill and had a taco and margarita. Not a late night. You didn't have to leave - I am glad you came though. Hope we can do it again sometime - once I get over this hump. (See, I am still insecure and a disaster when it comes to relationships! and I hadn't even gone there in 5 years!) Take care and keep in touch. kim -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Monday, October 29, 2001 9:30 AM To: Ward, Kim S (Houston) Subject: RE: Forward Warning Good to see you....sorry it was a bad time for you. Things will get better. It was nice meeting Suzanne and Elizabeth. Suzanne seems like a really neat person. Did ya'll hang out late? I didn't want to run off but I thought you probably needed some quality "girl time". -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, October 25, 2001 12:38 PM To: [email protected] Cc: 3 Subject: RE: Forward Warning It is right behind 3112. There are only 3 garden homes inside the gate - and 3110 is real big on my double green doors. Call if you get lost - 713-412-4571. Kim -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Thursday, October 25, 2001 12:33 PM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning how do I get to your house after I come in the people gate? -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Wednesday, October 24, 2001 4:31 PM To: [email protected] Cc: 3 Subject: RE: FW: Forward Warning where will you be coming from? If you go south on Kirby, turn left and travel west on Richmond. Take the first right onto Lake street. Go through the first stop sign and I am behind the black iron gate on your left. My address is 3110 Lake and I am behind 3112 Lake. Park on the street. If the car gate is closed, the people gate code is c1984. See you then - Kim -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Wednesday, October 24, 2001 2:41 PM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning sounds great....give me some directions and I'll see you at 6 or so. -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Wednesday, October 24, 2001 2:08 PM To: [email protected] Cc: 3 Subject: RE: FW: Forward Warning We could meet at my house and sit on my patio. I should stick around until 5:30 or so. I could be home by 5:45 or 6. Is that cool? -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Wednesday, October 24, 2001 1:09 PM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning What time do you get off? Do you want to meet somewhere in between? Your place? Brad -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Wednesday, October 24, 2001 10:12 AM To: [email protected] Cc: 3 Subject: RE: FW: Forward Warning of course - where do you want to meet? and what time? -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Wednesday, October 24, 2001 9:52 AM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning We still on for tomorrow? What's the plan? Brad -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, October 11, 2001 4:15 PM To: [email protected] Cc: 3 Subject: RE: FW: Forward Warning I am living in an awesome garden home 1 block west of Kirby between richmond and West Alabama. Awesome location. You will have to see it sometime. I think I invited you to my housewarming party. I will just have to keep your name on the list for future parties. I never have customers in town but I have three in next week, including dinner plans with Tucson Electric on Thursday night. Maybe the following Thursday? I am usually open - let me know. Kim -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Thursday, October 11, 2001 2:52 PM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning Oops. Moved out of the Heights in April. Built a place out here in the stix by Conoco (I-10/Eldridge). Really miss the food downtown and being able to go to a game or a happy hour easily. Where are you living these days? Lets grab a beer. Whats going on next Thursday? -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, October 11, 2001 2:08 PM To: [email protected] Cc: 3 Subject: RE: FW: Forward Warning I thought you lived in the Heights? Shows how much I know! Don't know of any specific happy hours but it seems as if there is always something going on. I'm not hooked into the broker market so I'm sure you hear about more happenings than me! Let me know when you are around and maybe we can get some people together for a beer. K. -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Thursday, October 11, 2001 2:01 PM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning Just tryin' to make a buck. I got back from a Mexico dove hunt yesterday that was awesome! We haven't seen alot of slowdown in the business (thankfully) but the economy will back a little demand off the market. Hoping the low price will continue to offset that and get prices moving up in the next few months. Don't get into town much since I live and work in east San Antonio. Any happy hours worth coming into town for? -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Thursday, October 11, 2001 1:39 PM To: [email protected] Cc: 3 Subject: RE: FW: Forward Warning Hey, just workin and playin. No planned vacations! What's new with you? How's work? Things here have slowed down somewhat. Hope that's not a bad sign for next year! What have you been up to? Haven't seen you about town at all. -----Original Message----- From: "King, Brad" <[email protected]>@ENRON Sent: Thursday, October 11, 2001 12:57 PM To: Ward, Kim S (Houston) Subject: RE: FW: Forward Warning Hey stranger, whats going on? -----Original Message----- From: Ward, Kim S (Houston) [mailto:[email protected]] Sent: Thursday, October 11, 2001 12:04 PM To: Angie Conner (E-mail); Ann Sutton (E-mail); Brad Fagan (E-mail); Cathy Pocock (E-mail); Chris Todd (E-mail); Christopher Smith (E-mail); Cindy Tarsi (E-mail); Dave Breish (E-mail); David Hutchens (E-mail); David Payne (E-mail); Elizabeth Jordan (E-mail); Eric Strickland (E-mail); Gayleen Barrett (E-mail); Ginger& Michael Brown (E-mail); Harriet Turk (E-mail); Herman Green (E-mail); Slone, Jeanie; Jerry Ward (E-mail); John Schilke (E-mail); Kathy Wright (E-mail); Karla Dailey (E-mail); Linda Ward Elam (E-mail); Lisa Rosenberg (E-mail); Melissa Reese (E-mail); Matt Mitten (E-mail); Mike & Rosalia Nolan (E-mail); Mike Wardell (E-mail); Monica Padilla (E-mail); Natalie & Bret Boehmer (E-mail); Sally McElroy (E-mail); Scott Connelly (E-mail); Shawn McElmoyl (E-mail); Stanton Scott (E-mail); Susie Lejune (E-mail); Theresa Cline (E-mail); Tina lovett (E-mail); Wayne Brown (E-mail); Wes Kersey (E-mail); Yonnie Waller (E-mail); Olinger, Kimberly S.; Brewer, Stacey J.; [email protected]; Semperger, Cara; Fuller, Dave; Lucci, Paul T.; Nemec, Gerald; Vann, Suzanne; Heintzelman, Pete; McDonald, Rob; Vint, Peter; Foster, Chris H.; Mainzer, Elliot; Wente, Laura; Platter, Phillip; [email protected]; Gerard, Camille; [email protected]; Cross, Edith EES; [email protected]; [email protected]; [email protected]; Arnold, John; [email protected]; [email protected]; Miller, Stephanie; [email protected]; [email protected]; Kennedy, Susan L.; [email protected] Subject: FW: FW: Forward Warning > I received this email today from a very good friend of mine who has a > lot of close friends from India. This letter is to one of those close > friends. I don't know if I should pass it around but I want everyone > I know to be aware. > Kim > > > > > >This is worth forwarding, just incase. . . > > > > > > >===================================================================== > === > > >=============================================== > > > > > >PLEASE READ! > > >Subject: Malls on 10/31 > > > > > >Hey guys..I dont want to scare anyone..but its better safe than > sorry, > > >right?? This is not just a foward I recieved..Its from one of my > > >colleages at JPMorgan. It's been sent around within the firm, I > wanted > > >to pass it on just in case. > > >Hi All - > > >I think you all know that I don't send out hoaxes and don't > > >do the reactionary thing and send out anything that crosses my > > >path. > > >This one, however, is a friend of a friend and I've given it > > >enough credibility in my mind that I'm writing it up and sending it > out > > >to all of you. > > >My friend's friend was dating a guy from Afghanistan up until a > month > > >ago. She had a date with him around 9/6 and was stood up. She was > > >understandably upset and went to his home to find it completely > emptied. > > >On 9/10, she received a letter from her boyfriend explaining that > > >he > > >wished he could tell her why he had left and that he was sorry it > > >had to be like that. The part worth mentioning is that he BEGGED > her > > >not to get on any commercial airlines on 9/11 and to not to go any > malls > > >on Halloween. > > >As soon as everything happened on the 11th, she called the FBI and > has > > >since turned over the letter. This is not an email that I've > received > > >and decided to pass on. This came from a phone conversation with a > > >long-time friend of mine last night. > > >I may be wrong, and I hope I am. However, with one of his warnings > > >being correct and devastating, I'm not willing to take the chance > on the > > >second and wanted to make sure that people I cared about had the > same > > >information that I did. > > >Laura Katsis > > >Implementation Specialist > > >714/921-5424 > > >[email protected] <mailto:[email protected]> > > >[email protected] <mailto:[email protected]> > > > > > > > > > > > >-------------------------------------------------------------- > > >Reminder: E-mail sent through the Internet is not secure. > > >Do not use e-mail to send us confidential information > > >such as credit card numbers, changes of address, PIN > > >numbers, passwords, or other important information. > > >Do not e-mail orders to buy or sell securities, transfer > > >funds, or send time sensitive instructions. We will not > > >accept such orders or instructions. This e-mail is not > > >an official trade confirmation for transactions executed > > >for your account. Your e-mail message is not private in > > >that it is subject to review by the Firm, its officers, > > >agents and employees. > > >-------------------------------------------------------------- > > > > > > > > > >********************************************************************* > * > > >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. > > > >********************************************************************* > * > > > > > > _________________________________________________________________ > > Get your FREE download of MSN Explorer at > http://explorer.msn.com/intl.asp > > > > >
Jim-- Andy Edison is getting up to speed on the matters he did not already know about We should be in a position to meet with you next week. I have also scheduled a meeting with you for next week to talk about NSM counsel and California. James Derrick/ENRON@enronXgate 03/27/2001 02:33 PM To: Richard B Sanders/HOU/ECT@ECT cc: Subject: FW: Litigation report Richard, I would like to meet with you re these claims and the others referred to in the message below to insure that we have all necessary information regarding them and have the appropriate legal counsel attending to them. Thank you. Jim -----Original Message----- From: Paul Johnson, T Sent: Monday, March 26, 2001 12:15 PM To: Sanders, Richard Cc: Derrick Jr., James; Evans, Mark Subject: Litigation report A number of pieces of on going litigation and arbitration being conducted on behalf of EML and EMC have very recently come to our attention which we summarise below. We have endeavoured to establish the detail of these cases as quickly as possible, but in some instances await information from outside counsel involved. The summary is therefore necessarily provisional, and will need to be supplemented. There are in addition other claims of which we have been made aware, largely being run by MG Hong Kong and Beijing offices. Details are presently so sketchy that we have not included them until we have been able to verify. A supplementary note on these will follow asap. 1. Corporacion Nacional del Cobre de Chile ("Codelco" ) v. MG Ltd, MGAG and MGCC This is a major, and very serious claim being brought by the Chilean state copper trading company Codelco against, primarily MG AG of Frankfurt, but also against MG Ltd (now Enron Metals Ltd) for recission of futures contracts on the basis that they were procured by fraud (a bribe of US$1.5m paid to the main Codelco trader by MGAG). We have received a brief summary of the claim from Slaughter & May, the lawyers handling the litigation on behalf of EML, which is attached below. As a result of an indemnity from MG AG, MG Ltd has NO financial exposure other than a credit risk to MG AG. Legal professional privilege must of course be maintained for this document and its contents, and any dissemination outside the legal dept should be made subject to prior approval by legal. Trial is set down in the Chancery Division of the High Court in London for 5-6 weeks, commencing October 2001. Significantly, and as you will be aware, High Court proceedings take place in public. - LT010810084_3.doc 2. MG Ltd v. China Resources National Corporation Claim in LME arbitration for payment of US$6m futures losses on client contracts. Award published in favour of MGL on liability alone in August 2000. Damages to be assessed. Thereafter Award to be enforced in China. Solicitors: Clyde & Co. 3. MG Ltd v. London Clearing House Claim in LME arbitration for delivery of defective tin under warrant. Losses believed to be US$800,000. 7 day time bar defence run by the LCH heard as preliminary issue. Award in approx Feb 2000 in favour of MG (ie time bar inapplicable). This has led to resumption of settlement negotiations with Standard Chartered Bank (trading), who put the metal onto warrant originally (and against whom the LCH would have an indemnity claim). The most recent offer from Standard Chartered is to pay US$437,000; but this is subject to unacceptable conditions. Solicitors: Allen & Overy. 4. Nickel explosion in furnace in Cleveland: Scandia Transport LMEWarehouse/LCH/EMC/Phoenix /EAC/ Cast Alloys (smelter) Contaminated nickel supplied by EMC into the US. Amount of loss being established now. Incident much less bad than initial reports suggested, and have therefore deferred explosion survey/investigation lined up on urgent basis earlier this week. Expect indemnity claim to be brought against EMC by Phoenixx in LME arbitration; and to pass same claim on to the LCH. Assume possibility of US tort claim also lying direct from Smelter to EMC (awaiting advice from Limor Nissan/Andy Edison on this). Facts should become sufficiently clear to enable rough quantification within next week (w/c 26/3). NB. Other similarly contaminated shipments from the same warehouse are known to exist. Warnings to other customers are being prepared. 5. LME arbitration: Chinese receiver/ICD/Brandeis/EMC/EML/LCH/Warehouse Claim brought by Chinese receivers for supply of defective nickel on LME warrant bought through London clearing. Only US$62,000 claim, but involves significant point of principle, hence decision taken to proceed in arbitration. Should in principle be able to pass on incoming claim to LCH (and beyond). Expect unrecoverable costs (internal and external) to exceed the amount of the claim. Solicitors to be instructed w/c 26/3.
Cara et all, Following list of bug fixes are moving out to stage to address the recently reported issues: New versions of both applications have been moved out to stage.. PreSchedule Workspace: #1 Problem: Uploading to the Path Confirm Area:accepted Mid C-1:53 Rockies-0:22 Palo 1:11 COB 0:49 (Row 69 Generated a General SQL error message) This is showing Physical and non-physical right. Solution: Line 69 , the timezone value under column G was '6/20/2001-6/20/2001' when it should have been 'PDT' or any other valid timezone value. #2 Problem: Running Build Route Report: Criteria Selection-unable to select criteria for build route, got "List index out of bounds (4)" error needs fix Solution: Fixed.. was losing track of which workspace was open #3 Problem: Daily Summary Function needs fix or workaround-Would not work at all, got 3 error messages. " Unable to locate" "can't find last row!", and "Failed to export summary!" this is going to create a csv file right to the AGG sched vol report now according to Mr. Poston, I am thrilled to hear it. Solution: Executive Report was just pushed to stage yesterday, the data is currently what we're focusing on with this release and will soon start shaping it to make it visualy look like the pre-existing excel-based Executive Report. #4 Problem: Error Checking - took 1:29, produced a line by line error sheet that is printable, accepted BUT routing errors for lines 19-223 in the COB sheet produced a routing error that just states "ERROR:" no reason. We need to know why an error is shown(was run after all routes were deleted) needs fix Solution: Error Checking will not spit out any errors if there aren't any. Path Confirmation: #1 Problem: One little housekeeping thing, can we move the delete button away from the confirm button? Perhaps on the other side of the exit button? This will save us mucho headaches later. OR make the dialog box look more like a warning that a record has been selected for deletion? Solution: Dialog box included for deletion alert confirmation purposes and button repositioned. thanks Asem x31700 PreSchedule Workspace: Running Build Route Report: Criteria Selection-unable to select criteria for build route, got "List index out of bounds (4)" error needs fix Error Checking - took 1:29, produced a line by line error sheet that is printable, accepted BUT routing errors for lines 19-223 in the COB sheet produced a routing error that just states "ERROR:" no reason. We need to know why an error is shown(was run after all routes were deleted) needs fix Uploading to the Path Confirm Area:accepted Mid C-1:53 Rockies-0:22 Palo 1:11 COB 0:49 (Row 69 Generated a General SQL error message) This is showing Physical and non-physical right. Daily Summary Function needs fix or workaround-Would not work at all, got 3 error messages. " Unable to locate" "can't find last row!", and "Failed to export summary!" this is going to create a csv file right to the AGG sched vol report now according to Mr. Poston, I am thrilled to hear it. Routing Mid C-13:27 Rockies-2:23 Palo 7:56 COB 5:12 the time is fine. needs fixThe routes are still not showing designated Physical or Non-Physical Properly. All are coming through as Non-Physical. This is must be fixed prior to release for production as our WSCC fee pulls directly from this data in deal Scheduling. Path Confirmation: Speed is very much an issue here, I had Mark Guzman sit with me while I cut a path and when I confirmed a group of paths. The confirmation of 5 paths as a group took 70 seconds from the time I entered the name and hit the "ok" button until the confriming was completed. This is too long, we need this to be 20-30 seconds max. Currently, this process takes about 10 seconds in lotus. Confriming 2 paths with the 20th fully populated took 1:39. Cutting a path went fast enough until I closed the screen to go back to the confirmation report. This also took over a minute. This is another 10 second process in lotus. One little housekeeping thing, can we move the delete button away from the confirm button? Perhaps on the other side of the exit button? This will save us mucho headaches later. OR make the dialog box look more like a warning that a record has been selected for deletion? All of the sorting looks great, the paths are represented properly, we are very very close! Real Time Discussion: Where are we on this? I heard initial rumblings, but nothing lately. Here are the sheets that I have used to create data for 6/20 << File: COB_JUNE20_USEME.psc >> << File: Mid_C_June20.psc >> << File: Palo_June20.psc >> << File: Rockies_June_20.psc >> I can do more testing or Net meeting stuff tomorrow until about 10:30, but after that I have to be a scheduler for a couple of hours. Thanks, Cara
[IMAGE] Forums Discuss these points in the Forums: Forexnews Forum Technicals Live Charts Analysis available from: Cornelius Luca J.P. Chorek Technical Research Ltd. Charts & News featuring Standard & Poor's Interest Rates US: Japan: Eurozone: UK: Switzerland: 1.75% 0.15% 3.25% 4.0% 1.25-2.25% [IMAGE] [IMAGE] USD Steady Ahead of Data Barage and Bush January 29, 7:00 AM: EUR/$..0.8609 $/JPY..133.35 GBP/$..1.4118 $/CHF..1.7089 USD Steady Ahead of Data Barage and Bush by Jes Black At 8:30:00 AM US Dec Durable Goods (exp 0.9%, prev -4.8%) US Dec Ex defence (exp 1.5%, prev 2.4%) At 9:40:00 AM US Redbook (exp n/f, prev 1.4%) At 10:00:00 AM US Jan Consumer Confidence (exp 95.4, prev 93.7) At 9:00 PM President Bush State of Union Address The dollar took a breather today before a multitude of economic data get underway and the market braces for the State of the Union address by President Bush. The sharp rise in the dollar against the European majors over the past few trading sessions is based on the belief that this week's US data will show continued improvement. Moreover, President Bush's speech is expected to reflect a bullish outlook on the US economy. This has kept the dollar index hovering near the 120 level today, just shy of its 15-year highs around 121.00. EUR/USD fell to a day's low of 85.93 in European trade following a failed attempt to break key resistance at 86.35. The single currency now looks vulnerable to fall back below 86.00 on its way to yesterday's 6-month low of 85.72. A break below this would then target 85.55, the 71.8% Fibonacci retracement of the move from 82.25 to 95.95. However, choppy trade over the next few days is likely and the market does not see temporary moves higher as indicating strength. Resistance is viewed at 86.35, 86.50, and the key 87.40/50 level which marks the 61.8% Fibonacci retracement of the same move. In a newspaper interview published Tuesday, the ECB's Issing said most studies indicate that the euro is undervalued. However, Issing conceded that the central bank may have underestimated the impact of the US slowdown on the Eurozone economy. In the near term, Q1-Q2 2002 growth is likely to be flat growth and that the euro FX rate will be dependent on progress with EU reforms, which have been slow to make much headway, Issing said. But holding back the dollar for the moment is the fact that much hope has again been pinned on hopes of a speedy US recovery. Therefore, not only will this week's economic data have to impress, but all eyes will be on the Fed's FOMC meeting which convenes on Wednesday. A strong majority expects the Fed to stay put on rates. But the focus will be on their outlook for the economy and whether they change the easing bias to neutral after an incredible 11 interest rate cuts last year to a 40-year low of 1.75%. Another point of contention this week will be whether the G7 meeting in Toronto and the World Economic Forum in New York become a sounding board for big global interests to bash the recent resurgence in the dollar. Manufacturers are likely to complain that the state of the economy is now about at the same level just prior to the September 11 attacks, but the USD index is again trading near 15-year highs. In fact, recent dollar strength gave way to corrective yen buying on Monday as USD/JPY fell 1.5% from its recent 40-month highs around 134.90. The euro and pound crosses fared worse and have fallen 3.75% and 2.5% respectively, since peaking at 2-year highs last Thursday. BoJ Governor Hayami helped push the yen higher following a break in the usual weak yen rhetoric by MoF officials. Hayami reiterated his opposition to a weaker yen, arguing that a softer currency is not a solution to Japan's problems and that manipulating the yen lower would undermine Japan's credibility. However, Hayami's comments are not seen as carrying that much weight because it is widely known that the MoF conducts FX policy, not the BoJ. Nevertheless, given the rapid fall in JPY over the past 2 months and the subsequent consolidation, some dealers warn of further corrective buying in the yen before a renewed fall will push JPY below recent lows. Some dealers expect a reversal in USD/JPY back as far as the 130 mark. But before that happens, current support at 132.80 and 132.40 will have to give. Meanwhile, the upside is capped at 134.00, 134.50, and 134.90. Despite any technical correction in the JPY bear trend, the currency is more likely to succumb to its weak economic fundamentals. Today, Japan's unemployment rate climbed to a record high for the fourth straight month in December to 5.6%, up from 5.5%. It was the highest rate since unemployment records began in 1953. Separate data showed average spending down 4.4% in December from a year earlier. Moreover, GDP is expected to contract by 1% in this fiscal year (ending in March) and the government has forecast 0% growth for FY2002. GBP broke out of today's tight trading range and fell to new day lows against the dollar and yen. GBP/JPY is now testing support around one-month lows of 187.00. Sterling has now dropped over 2.5% against the yen since last Thursday's 2-year highs around 192.20. GBP/USD also fell to a day's low of 1.4045, just above overnight 6-month lows of 1.4043. Support is seen here, followed by 1.3980 and 1.3930. Finally, today's key data is the Conference Board's Consumer Confidence survey which is expected to rise to 95.4, from 93.7 in Decmeber. However, because it is scheduled one day before the FOMC decision on interest rates, the markets reaction is likely to be muted. Durable goods orders are also expected to rise by 0.9% in December after falling 4.8% previously. But inventory depletion is unlikely to lead to a sharp recovery.rd high for the fourth straight month in December to 5.6%, up from 5.5%. It was the highest rate since unemployment records began in 1953. Separate data showed average spending down 4.4% in December from a year earlier. Moreover, GDP is expected to contract by 1% in this fiscal year (ending in March) and the government has forecast 0% growth for FY2002. On Monday, the Japanese government said that consumer sentiment remained weak in December amid rising corporate bankruptcies and record high unemployment. Deflationary pressure also persists as retail sales in Japan fell 5.7% from a year earlier in December for the ninth straight month of decline, showing how falling incomes and are weighing on spending as consumers become more uncertain about the economic outlook. JPY is also likely to remain under pressure in the near term as ratings downgrades and rising bond yields steer investors away from Japanese assets. The Bank of International Settlements said Monday the outstanding balance of overseas loans and investment by Japanese banks was up some $40 billion from the end of June. Moreover, banks are unloading Japanese bonds in order to book profits before the fiscal year ends on March 31. Foreign investors have also sold bonds as the falling yen has created a currency risk too great for the scant return of Japanese bonds. USD/CHF also remained above support at 1.7020 which is key for further gains. Follow up support stands at 1.6945, which marks the 50% Fibonacci retracement of the same move. On Monday, Swissy rose above resistance at 1.7075 to a new 5-month high of 1.7173. Swissy is now seen targeting 1.7245, which marks the 61.8% Fibonacci retracement of last year's July high of 1.8221 to the September low of 1.5670. [IMAGE] Audio Mkt. Analysis USD Retreats Ahead of Data Flood Articles & Ideas How Will the Dollar Fare Amid the Data Barrage? ECB: One More Cut Articles & Ideas Forex Glossary Economic Indicators Forex Guides Link Library [IMAGE] [IMAGE][IMAGE] [IMAGE][IMAGE] This e-mail is never sent unsolicited. If you wish to unsubscribe from this or any other Forexnews.com newsletters, please click here . Any opinions expressed by representatives of Forexnews.com or its affiliates as to the commentary, market information, and future direction of prices of specific currencies reflect the views of the individual analyst, and do not necessarily represent the views of Forexnews.com or its affiliates in any way. In no event shall Forexnews.com or its affiliates have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of information.
-----Original Message----- From: Dan Douglass [mailto:[email protected]] Sent: Friday, November 02, 2001 6:15 PM To: ARM Subject: Fw: PG&E DA Comments Importance: High PG&E attached Dan Law Offices of Daniel W. Douglass 5959 Topanga Canyon Blvd. Suite 244 Woodland Hills, CA 91367 Tel: (818) 596-2201 Fax: (818) 346-6502 [email protected] ----- Original Message ----- From: "Dannewitz, Linda" <[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]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; "Post, Jennifer (Law)" <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; "Helgens, Ronald" <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]>; <[email protected]> Cc: "Ouborg, Peter (Law)" <[email protected]> Sent: Friday, November 02, 2001 4:34 PM Subject: 1998RAP DA Comments > TO ALL PARTIES TO A. 98-07-003 ET AL.: > > Attached is "Response of Pacific Gas and Electric Company (U39E)to Assigned > Commissioner's Ruling Regarding Comments on Certain Direct Access Issues" > (including the attachment thereto) which is being filed in the above dockets > at the CPUC today. Thank you. > > Linda Dannewitz > for Peter Ouborg > > > > >
OK, Here we go. It looks like ARM will take this on. ----- Forwarded by Susan J Mara/NA/Enron on 11/30/2000 07:16 AM ----- "Counihan, Rick" <[email protected]> 11/29/2000 04:26 PM To: "'ARM List Serve'" <[email protected]>, "'Douglass, Dan'" <[email protected]> cc: Subject: FW: SCE's Motion to Sever The PX credit issue, 11-29-00, RAP (99) A. 99-08-022 We should pour gasoline on this and light a match........ -----Original Message----- From: Archer, Anthony V [mailto:[email protected]] Sent: Wednesday, November 29, 2000 4:02 PM To: '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]'; '[email protected]' Cc: Keeler, Robert B; 'Alice Archer'; Chadsey, Linda; Fox, Beth; Monalisa, Dina Subject: SCE's Motion to Sever The PX credit issue, 11-29-00, RAP (99) A. 99-08-022 <<PX Motion of SCE>> Attached is SCE's Motion to Sever the PX Credit Issue From the Commission's Decision, in A. 99-08-022 This document was filed and served today, 11-29-00, on all parties of record in this proceeding. Sincerely, Anthony V. Archer So. Cal. Edison's Legal Dept. Tele: 626 302-3104 Pax:: 2-3104 Fax:: 2-2304 Suite 315 - RAP99_~1.PDF

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