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30,321 | home delivery cia ` lis hi again ,
we now have over 97 meds available online now !
we are having specials on xanax , vlagra , soma , amblen and vallum
free clalls with every order
more lnfo here | 1 | spam | home delivery cia ` lis | hi again ,
we now have over 97 meds available online now !
we are having specials on xanax , vlagra , soma , amblen and vallum
free clalls with every order
more lnfo here
| 2004-11-07T00:00:00 |
7,194 | interview schedule for yingquan shen ( charles ) please be aware of the correction on candidate ' s name . thank you
stephanie
- - - - - - - - - - - - - - - - - - - - - - forwarded by stephanie summers / na / enron on 10 / 10 / 2000
04 : 00 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
stephanie summers
10 / 10 / 2000 03 : 41 pm
to : vince j kaminski / hou / ect @ ect , zimin lu / hou / ect @ ect , alex
huang / corp / enron @ enron , tanya tamarchenko / hou / ect @ ect , paulo
issler / hou / ect @ ect
cc : anita dupont / na / enron @ enron , shirley crenshaw / hou / ect @ ect , marlow
anderson / corp / enron @ enron
subject : interview schedule for yingquan shen ( charles )
please find the interview packet for the above - referenced person . the
interview will occur on friday october 13 , 2000 . please print all three
documents for your reference . if you have any questions , or conflicts of
schedule , please do not hesitate to contact me .
stephanie
58701 | 0 | ham | interview schedule for yingquan shen ( charles ) | please be aware of the correction on candidate ' s name . thank you
stephanie
- - - - - - - - - - - - - - - - - - - - - - forwarded by stephanie summers / na / enron on 10 / 10 / 2000
04 : 00 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
stephanie summers
10 / 10 / 2000 03 : 41 pm
to : vince j kaminski / hou / ect @ ect , zimin lu / hou / ect @ ect , alex
huang / corp / enron @ enron , tanya tamarchenko / hou / ect @ ect , paulo
issler / hou / ect @ ect
cc : anita dupont / na / enron @ enron , shirley crenshaw / hou / ect @ ect , marlow
anderson / corp / enron @ enron
subject : interview schedule for yingquan shen ( charles )
please find the interview packet for the above - referenced person . the
interview will occur on friday october 13 , 2000 . please print all three
documents for your reference . if you have any questions , or conflicts of
schedule , please do not hesitate to contact me .
stephanie
58701 | 2000-10-10T00:00:00 |
11,407 | sf gate : text of gov . gray davis ' energy speech - - - - - - - - - - - - - - - - - - - - - - forwarded by mike grigsby / hou / ect on 04 / 05 / 2001 10 : 05 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" mike " @ sfgate . com > on 04 / 05 / 2001 10 : 12 : 00 pm
sent by :
to : " mike "
cc :
subject : sf gate : text of gov . gray davis ' energy speech
this article was sent to you by someone who found it on sf gate .
the original article can be found on sfgate . com here :
thursday , april 5 , 2001 ( ap )
text of gov . gray davis ' energy speech
the associated press
, , - - ( 04 - 05 ) 18 : 08 pdt here is the text of gov . gray davis ' televised
speech on energy thursday , as prepared for delivery :
" good evening . i ' m speaking to you tonight from sacramento on the most
difficult issue facing california : our energy crisis .
" simply stated , we have two problems : supply is too low and costs are too
high . both result from the flawed deregulation scheme created in 1996 . but
no matter how we got into this mess , you hired me to solve problems . and
that ' s what i ' m doing .
" the only long - term solution is to build more power plants . we must also
cut back on consumption and stabilize the utilities . but prices won ' t fall
and supply won ' t be truly reliable until we generate more power than we
consume .
" yet in the 12 years before i took office , not a single major power plant
was built in california . not one . since i became governor , we ' ve licensed
12 major power plants . ten more are in the pipeline . and we ' re doing this
without weakening our commitment to clean air and clean water .
" deregulation required the utilities to sell off many of their power
plants to independent generating companies . the generators are free to
charge whatever they want because they ' re governed only by federal
regulators who refuse to control wholesale energy prices .
" this past winter , the prices charged by the generators shot through the
roof , driving the utilities to the brink of bankruptcy .
" in january , with the feds still refusing to do their job , california
stepped in to purchase the power the utilities could no longer afford to
buy . we didn ' t take over to save the utilities . we took over to keep the
power on and the economy strong . that ' s not all :
- - we also negotiated long - term contracts for electricity at vastly lower
prices .
- - i used my emergency powers to seize control of low - cost power contracts
the utilities were about to forfeit to the generators .
- - we began negotiations to buy the utilities ' transmission system .
- - we cut red tape and offered cash incentives to speed up construction of
power plants .
- - we ' re launching an $ 800 million conservation program .
- - we ' re moving to establish a public power authority to build more power .
if the private sector fails to build all the plants california needs ,
we ' ll build them ourselves .
- - and because i share your concern that the generators are ripping us
off , we ' re using every legal remedy to root out and punish illegal
conduct .
" we can ' t fix 12 years of inaction overnight . but we ' re making real
progress .
" now , as you know , i have fought tooth and nail against raising rates .
it ' s become increasingly clear , however , that with rising natural gas
prices , the feds ' failure to control costs , and the state ' s lack of
supply , that some rate increases are needed to keep our lights on and our
economy strong .
" but i remain committed to protecting average californians from massive
rate hikes . so i ' m urging the public utilities commission to adopt a plan
that will protect average consumers , reward those who conserve and
motivate the biggest users to cut back .
" under my proposal , more than half of you won ' t pay a penny more . for the
rest , the average increase will be 26 1 / 2 percent . for many of that group ,
rates will rise only about 10 percent . the heaviest users will see their
rates rise 34 1 / 2 percent on average . that includes business paying their
share . this is in addition to the 9 percent surcharge we ' ve all been
paying since last winter .
" but all californians can reduce their bills through conservation .
" here ' s the point : the more you use , the more you pay . the more you
conserve , the more you save . conservation is our best short - term weapon
against blackouts and price - gouging . by flexing your power , you ' ll help
secure our energy future .
" unlike the puc , my plan includes funds to restore the utilities to
financial stability - - if they agree to three main conditions :
" they must provide low - cost regulated power to the state for 10 years .
agree to sell us their transmission system . and dismiss their lawsuits
seeking to double your electricity rates .
" my proposal raises rates fairly , assures us of long - term power ,
stabilizes the utilities and promotes conservation .
" our emphasis on conservation is critical . in order to make it through the
summer , we must cut demand by at least 10 percent .
" already we ' ve launched programs to cut back commercial lighting , and
reduce consumption in office buildings , schools and government facilities .
" friends , we have a power shortage but we are far from powerless . we are
34 million strong and if each of us does our part , we can minimize
disruptions and get through the summer . we are californians . we ' ve
withstood earthquakes , floods , fires , and droughts .
" yes , this mess is man - made , but with your help and god ' s blessing , we ' ll
get through this as well .
" thank you and good night . "
copyright 2001 ap | 0 | ham | sf gate : text of gov . gray davis ' energy speech | - - - - - - - - - - - - - - - - - - - - - - forwarded by mike grigsby / hou / ect on 04 / 05 / 2001 10 : 05 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" mike " @ sfgate . com > on 04 / 05 / 2001 10 : 12 : 00 pm
sent by :
to : " mike "
cc :
subject : sf gate : text of gov . gray davis ' energy speech
this article was sent to you by someone who found it on sf gate .
the original article can be found on sfgate . com here :
thursday , april 5 , 2001 ( ap )
text of gov . gray davis ' energy speech
the associated press
, , - - ( 04 - 05 ) 18 : 08 pdt here is the text of gov . gray davis ' televised
speech on energy thursday , as prepared for delivery :
" good evening . i ' m speaking to you tonight from sacramento on the most
difficult issue facing california : our energy crisis .
" simply stated , we have two problems : supply is too low and costs are too
high . both result from the flawed deregulation scheme created in 1996 . but
no matter how we got into this mess , you hired me to solve problems . and
that ' s what i ' m doing .
" the only long - term solution is to build more power plants . we must also
cut back on consumption and stabilize the utilities . but prices won ' t fall
and supply won ' t be truly reliable until we generate more power than we
consume .
" yet in the 12 years before i took office , not a single major power plant
was built in california . not one . since i became governor , we ' ve licensed
12 major power plants . ten more are in the pipeline . and we ' re doing this
without weakening our commitment to clean air and clean water .
" deregulation required the utilities to sell off many of their power
plants to independent generating companies . the generators are free to
charge whatever they want because they ' re governed only by federal
regulators who refuse to control wholesale energy prices .
" this past winter , the prices charged by the generators shot through the
roof , driving the utilities to the brink of bankruptcy .
" in january , with the feds still refusing to do their job , california
stepped in to purchase the power the utilities could no longer afford to
buy . we didn ' t take over to save the utilities . we took over to keep the
power on and the economy strong . that ' s not all :
- - we also negotiated long - term contracts for electricity at vastly lower
prices .
- - i used my emergency powers to seize control of low - cost power contracts
the utilities were about to forfeit to the generators .
- - we began negotiations to buy the utilities ' transmission system .
- - we cut red tape and offered cash incentives to speed up construction of
power plants .
- - we ' re launching an $ 800 million conservation program .
- - we ' re moving to establish a public power authority to build more power .
if the private sector fails to build all the plants california needs ,
we ' ll build them ourselves .
- - and because i share your concern that the generators are ripping us
off , we ' re using every legal remedy to root out and punish illegal
conduct .
" we can ' t fix 12 years of inaction overnight . but we ' re making real
progress .
" now , as you know , i have fought tooth and nail against raising rates .
it ' s become increasingly clear , however , that with rising natural gas
prices , the feds ' failure to control costs , and the state ' s lack of
supply , that some rate increases are needed to keep our lights on and our
economy strong .
" but i remain committed to protecting average californians from massive
rate hikes . so i ' m urging the public utilities commission to adopt a plan
that will protect average consumers , reward those who conserve and
motivate the biggest users to cut back .
" under my proposal , more than half of you won ' t pay a penny more . for the
rest , the average increase will be 26 1 / 2 percent . for many of that group ,
rates will rise only about 10 percent . the heaviest users will see their
rates rise 34 1 / 2 percent on average . that includes business paying their
share . this is in addition to the 9 percent surcharge we ' ve all been
paying since last winter .
" but all californians can reduce their bills through conservation .
" here ' s the point : the more you use , the more you pay . the more you
conserve , the more you save . conservation is our best short - term weapon
against blackouts and price - gouging . by flexing your power , you ' ll help
secure our energy future .
" unlike the puc , my plan includes funds to restore the utilities to
financial stability - - if they agree to three main conditions :
" they must provide low - cost regulated power to the state for 10 years .
agree to sell us their transmission system . and dismiss their lawsuits
seeking to double your electricity rates .
" my proposal raises rates fairly , assures us of long - term power ,
stabilizes the utilities and promotes conservation .
" our emphasis on conservation is critical . in order to make it through the
summer , we must cut demand by at least 10 percent .
" already we ' ve launched programs to cut back commercial lighting , and
reduce consumption in office buildings , schools and government facilities .
" friends , we have a power shortage but we are far from powerless . we are
34 million strong and if each of us does our part , we can minimize
disruptions and get through the summer . we are californians . we ' ve
withstood earthquakes , floods , fires , and droughts .
" yes , this mess is man - made , but with your help and god ' s blessing , we ' ll
get through this as well .
" thank you and good night . "
copyright 2001 ap | 2001-04-06T00:00:00 |
27,370 | undeliverable : spam : just to her . . . your message
to : ol @ lhl . no
subject : spam : just to her . . .
sent : tue , 19 jul 2005 12 : 57 : 46 + 0200
did not reach the following recipient ( s ) :
ol @ lhl . no on tue , 19 jul 2005 13 : 01 : 56 + 0200
the recipient name is not recognized
the mts - id of the original message is : c = no ; a =
; p = lhl ; l = venuso 50719110136 nc 6 md 3
msexch : ims : lhl : lhl : venus 0 ( 000 co 5 a 6 ) unknown recipient | 1 | spam | undeliverable : spam : just to her . . . | your message
to : ol @ lhl . no
subject : spam : just to her . . .
sent : tue , 19 jul 2005 12 : 57 : 46 + 0200
did not reach the following recipient ( s ) :
ol @ lhl . no on tue , 19 jul 2005 13 : 01 : 56 + 0200
the recipient name is not recognized
the mts - id of the original message is : c = no ; a =
; p = lhl ; l = venuso 50719110136 nc 6 md 3
msexch : ims : lhl : lhl : venus 0 ( 000 co 5 a 6 ) unknown recipient | 2005-07-19T00:00:00 |
25,504 | your logo and visual identity from us thinking of breathing new life into your business ?
start from revamping its front - endlogo and
visualidentity .
we offer creative custom design of ioqos ,
stationery and web - sites . under our carefui hand thesepowerful marketinq
toois wili brinq a breath of fresh air into your business and make you stand out
amonqthe competitors .
you are just a ciick
away from your future success . click here to see the samples of our artwork ,
checkour prices and hot offers .
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | 1 | spam | your logo and visual identity from us | thinking of breathing new life into your business ?
start from revamping its front - endlogo and
visualidentity .
we offer creative custom design of ioqos ,
stationery and web - sites . under our carefui hand thesepowerful marketinq
toois wili brinq a breath of fresh air into your business and make you stand out
amonqthe competitors .
you are just a ciick
away from your future success . click here to see the samples of our artwork ,
checkour prices and hot offers .
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | 2005-06-24T00:00:00 |
6,052 | re : memory hello andy ,
i received your e - mail .
i would like to request memory for the printer on the
19 th floor .
the printer name is bandit .
company number - 0011
r . c . number - 100038
thanks
kevin moore
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin g moore / hou / ect on 05 / 02 / 2000 09 : 00
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
05 / 02 / 2000 08 : 55 am
to : kevin g moore / hou / ect @ ect
cc : shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect
subject : re : memory
kevin ,
makes sense
vince
kevin g moore
05 / 02 / 2000 08 : 10 am
to : shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect
cc :
subject : memory
goodmorning ,
shirley , we are in need of a printer that will allow us to print
several pages , none of the printers on this floor will permit
us to do that without adding memory .
i even sent the print - out to bandit and it also needs more memory to
print these pages .
what we are printing is 189 pages .
mike would like to print these pages , so instead of paying for
memory on someone else ' s printer could we add memory to
one of our own .
please inform . . . . . . . . . .
thanks
kevin moore
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin g moore / hou / ect on 05 / 02 / 2000 08 : 01
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
andy sikes @ enron
05 / 01 / 2000 02 : 41 pm
to : kevin g moore / hou / ect @ ect
cc :
subject : memory
kevin - please reply with a company numbern and rc number to charge the cost
of the order to . it ' s about $ 100 .
thanks , andy
enron it purchasing
- - - - - - - - - - - - - - - - - - - - - - forwarded by andy sikes / corp / enron on 05 / 01 / 2000 02 : 38
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
andy sikes
05 / 01 / 2000 02 : 40 pm
to : andy sikes / corp / enron @ enron
cc :
subject : memory
- - - - - - - - - - - - - - - - - - - - - - forwarded by andy sikes / corp / enron on 05 / 01 / 2000 02 : 37
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
kevin g moore @ ect
05 / 01 / 2000 11 : 04 am
to : enron it purchasing @ enron
cc :
subject : memory
i would like to request more memory for the printer
blue - sky on the 32 nd floor .
the printer is a laser jet 8100 n .
the printer is located in front of eb 3240 b .
we need more memory a . s . a . p
thanks
kevin moore . | 0 | ham | re : memory | hello andy ,
i received your e - mail .
i would like to request memory for the printer on the
19 th floor .
the printer name is bandit .
company number - 0011
r . c . number - 100038
thanks
kevin moore
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin g moore / hou / ect on 05 / 02 / 2000 09 : 00
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
05 / 02 / 2000 08 : 55 am
to : kevin g moore / hou / ect @ ect
cc : shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect
subject : re : memory
kevin ,
makes sense
vince
kevin g moore
05 / 02 / 2000 08 : 10 am
to : shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect
cc :
subject : memory
goodmorning ,
shirley , we are in need of a printer that will allow us to print
several pages , none of the printers on this floor will permit
us to do that without adding memory .
i even sent the print - out to bandit and it also needs more memory to
print these pages .
what we are printing is 189 pages .
mike would like to print these pages , so instead of paying for
memory on someone else ' s printer could we add memory to
one of our own .
please inform . . . . . . . . . .
thanks
kevin moore
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin g moore / hou / ect on 05 / 02 / 2000 08 : 01
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
andy sikes @ enron
05 / 01 / 2000 02 : 41 pm
to : kevin g moore / hou / ect @ ect
cc :
subject : memory
kevin - please reply with a company numbern and rc number to charge the cost
of the order to . it ' s about $ 100 .
thanks , andy
enron it purchasing
- - - - - - - - - - - - - - - - - - - - - - forwarded by andy sikes / corp / enron on 05 / 01 / 2000 02 : 38
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
andy sikes
05 / 01 / 2000 02 : 40 pm
to : andy sikes / corp / enron @ enron
cc :
subject : memory
- - - - - - - - - - - - - - - - - - - - - - forwarded by andy sikes / corp / enron on 05 / 01 / 2000 02 : 37
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
kevin g moore @ ect
05 / 01 / 2000 11 : 04 am
to : enron it purchasing @ enron
cc :
subject : memory
i would like to request more memory for the printer
blue - sky on the 32 nd floor .
the printer is a laser jet 8100 n .
the printer is located in front of eb 3240 b .
we need more memory a . s . a . p
thanks
kevin moore . | 2000-05-02T00:00:00 |
25,796 | give your partner more pleasure i ' ve been using your product for 4 months now . i ' ve increased my
length from 2
to nearly 6 . your product has saved my sex life . - matt , fl
my girlfriend loves the results , but she doesn ' t know what i do . she
thinks
it ' s natural - thomas , ca
pleasure your partner every time with a bigger , longer , stronger unit
realistic gains quickly
to be a stud press
here
i ' ll be roasted , after all ! here ; help , fatty , help ! the fat chief
sprang to his feet and came to the rescue
oranjestad , aruba ,
po b 1200
it perplexed even jellia jamb , for a time , to know what to do with the
animalthe green maiden was much astonished at the sight of so unusual a
creature , for horses were unknown in this land ; but those who lived in the
emerald city were apt to be astonished by queer sights , so after inspecting
the cab - horse and noting the mild look in his big eyes the girl decided not
to be afraid of him he reached up , caught rob by the heels , and pulled him
down to the ground , away from the fire
but the next moment , as he clung to the boy ' s feet , they both soared into
the air again , and , although now far enough from the fire to escape its
heat , the savage , finding himself lifted from the earth , uttered a scream of
horror and let go of rob , to fall head over heels upon the ground | 1 | spam | give your partner more pleasure | i ' ve been using your product for 4 months now . i ' ve increased my
length from 2
to nearly 6 . your product has saved my sex life . - matt , fl
my girlfriend loves the results , but she doesn ' t know what i do . she
thinks
it ' s natural - thomas , ca
pleasure your partner every time with a bigger , longer , stronger unit
realistic gains quickly
to be a stud press
here
i ' ll be roasted , after all ! here ; help , fatty , help ! the fat chief
sprang to his feet and came to the rescue
oranjestad , aruba ,
po b 1200
it perplexed even jellia jamb , for a time , to know what to do with the
animalthe green maiden was much astonished at the sight of so unusual a
creature , for horses were unknown in this land ; but those who lived in the
emerald city were apt to be astonished by queer sights , so after inspecting
the cab - horse and noting the mild look in his big eyes the girl decided not
to be afraid of him he reached up , caught rob by the heels , and pulled him
down to the ground , away from the fire
but the next moment , as he clung to the boy ' s feet , they both soared into
the air again , and , although now far enough from the fire to escape its
heat , the savage , finding himself lifted from the earth , uttered a scream of
horror and let go of rob , to fall head over heels upon the ground
| 2005-06-27T00:00:00 |
17,377 | start date : 12 / 20 / 01 ; hourahead hour : 10 ; start date : 12 / 20 / 01 ; hourahead hour : 10 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2001122010 . txt | 0 | ham | start date : 12 / 20 / 01 ; hourahead hour : 10 ; | start date : 12 / 20 / 01 ; hourahead hour : 10 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2001122010 . txt | 2001-12-20T00:00:00 |
23,150 | re : mariner doorstep report dear kate ,
we are now ranking the findings - red or yellow . since these need to be done
immediately , i suggest that they are red findings .
regards
kate agnew
08 / 15 / 2000 01 : 59 pm
to : shona wilson / na / enron @ enron , donna lowry / hou / ect @ ect , richard
lauer / hou / ect @ ect , sally beck / hou / ect @ ect , wes colwell / hou / ect @ ect , ted
murphy / hou / ect @ ect
cc : john sorrells / aa / corp / enron @ enron
subject : mariner doorstep report
attached is the mariner doorstep report . jim brown indicated that the action
dates for the three findings should be immediately , we decided that october 1
was a realistic deadline for implementation . please let us know any comments
or questions .
thank you
kate | 0 | ham | re : mariner doorstep report | dear kate ,
we are now ranking the findings - red or yellow . since these need to be done
immediately , i suggest that they are red findings .
regards
kate agnew
08 / 15 / 2000 01 : 59 pm
to : shona wilson / na / enron @ enron , donna lowry / hou / ect @ ect , richard
lauer / hou / ect @ ect , sally beck / hou / ect @ ect , wes colwell / hou / ect @ ect , ted
murphy / hou / ect @ ect
cc : john sorrells / aa / corp / enron @ enron
subject : mariner doorstep report
attached is the mariner doorstep report . jim brown indicated that the action
dates for the three findings should be immediately , we decided that october 1
was a realistic deadline for implementation . please let us know any comments
or questions .
thank you
kate | 2000-08-15T00:00:00 |
74 | koch three rivers , # 6722 i spoke with larry zamit this morning regarding the outage january 1 through
6 . he agreed to hold the gas for us and batch it throughout the rest of
january . at this point we have 3 , 007 nominated for 1 / 1 / 00 and that is what
he has agreed to hold .
questions ? ? give me a call .
charlotte / aimee | 0 | ham | koch three rivers , # 6722 | i spoke with larry zamit this morning regarding the outage january 1 through
6 . he agreed to hold the gas for us and batch it throughout the rest of
january . at this point we have 3 , 007 nominated for 1 / 1 / 00 and that is what
he has agreed to hold .
questions ? ? give me a call .
charlotte / aimee | 1999-12-30T00:00:00 |
13,637 | fw : draft letter to apache louise and bill -
attached is a draft letter to send to apache . carol st . clair and i are ok with it , but we wanted to get your input before it goes out . let me know your thoughts .
andy
> | 0 | ham | fw : draft letter to apache | louise and bill -
attached is a draft letter to send to apache . carol st . clair and i are ok with it , but we wanted to get your input before it goes out . let me know your thoughts .
andy
> | 2001-10-31T00:00:00 |
650 | fyi - gas flow - - - - - - - - - - - - - - - - - - - - - - forwarded by jackie young / hou / ect on 04 / 11 / 2000 09 : 32
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" allen , john s . " on 04 / 11 / 2000 08 : 34 : 41 am
to : " ' young , jackie ' "
cc :
subject : fyi - gas flow
you will see a change later today in gas flow , going from 15 + 5 = 20 to 15
total for flow date 12 . | 0 | ham | fyi - gas flow | - - - - - - - - - - - - - - - - - - - - - - forwarded by jackie young / hou / ect on 04 / 11 / 2000 09 : 32
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" allen , john s . " on 04 / 11 / 2000 08 : 34 : 41 am
to : " ' young , jackie ' "
cc :
subject : fyi - gas flow
you will see a change later today in gas flow , going from 15 + 5 = 20 to 15
total for flow date 12 . | 2000-04-11T00:00:00 |
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diacute ; fference . pfont size = 2 ciacute ; aliacute ; s iacute ; s known as a super - viacute ; agra or
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mayday jamaicazenith canced concept gambit tiffanyroy garnet whitney goat benson binky
safety nirvanal praise
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alfred mishka phoenixl
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| 2005-05-05T00:00:00 |
9,158 | news review update please respond to news review the news review site , http : / / www . news - review . co . uk
home of weekend city press review , now offers registered users two new features :
all registered users can now :
- do a text search in addition to a company search on the full six - year archive
- and set up favourite companies on their home page for easier and faster access
to articles within the review and the archive which relate to those companies
the best way to keep abreast of the weekend ' s financial news and views is to
receive an email copy of weekend city press review , either via the full review ,
or the clippings relating to specific companies in which you are interested .
registered users are invited to take up the free offer of a 4 week subscription
to any of the services , including pdf delivery of the review , and the clippings service .
to login please use this url :
you can download this weekend ' s full review free of charge at
http : / / www . news - review . co . uk / freepdf . pdf from 8 pm uk time this sunday
your username for this service is vkaminski
if you have forgotton your password you can retrieve it at
to remove yourself from this service please login and use the ' my profile ' option .
our ref wcprvl : vkaminski | 0 | ham | news review update | please respond to news review the news review site , http : / / www . news - review . co . uk
home of weekend city press review , now offers registered users two new features :
all registered users can now :
- do a text search in addition to a company search on the full six - year archive
- and set up favourite companies on their home page for easier and faster access
to articles within the review and the archive which relate to those companies
the best way to keep abreast of the weekend ' s financial news and views is to
receive an email copy of weekend city press review , either via the full review ,
or the clippings relating to specific companies in which you are interested .
registered users are invited to take up the free offer of a 4 week subscription
to any of the services , including pdf delivery of the review , and the clippings service .
to login please use this url :
you can download this weekend ' s full review free of charge at
http : / / www . news - review . co . uk / freepdf . pdf from 8 pm uk time this sunday
your username for this service is vkaminski
if you have forgotton your password you can retrieve it at
to remove yourself from this service please login and use the ' my profile ' option .
our ref wcprvl : vkaminski | 2001-04-21T00:00:00 |
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adobe photoshop cs is a professional tool for editing digital images . with photoshop tutorials on video , you ' ll get to peek over the shoulder of a professional graphic designer and learn at your own pace . with access to more than 7 hours of photoshop instruction , you ' ll discover the secrets of editing digital photos like a pro , how - to create cool objects for web sites , and learn a myriad of other useful tricks - all in one comprehensive step - by - step course .
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all photoshop tutorials are presented in crystal - clear 1024 x 768 video quality , and are available to you as a downloadable file . no streaming , no activation , no copyright protection - simply download a file and watch it as many times as you like . a picture may be worth a thousand words , but a video explains things far more clearly and concisely . to see for yourself , try our free demo and discover how easy working in adobe photoshop can be .
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mj computers - photoshop training 5 postfach linz , 4017 austriathis e - mail message is an advertisement and / or solicitation . | 2005-06-30T00:00:00 |
14,091 | on mahonia margining , i spoke with mike garberding . tells me he went through all collateral issues on these deals with wendi lebrocq in credit last week and everything tied exactly . he will walk tanya rohauer through the exact same steps tomorrow . eric boyt is pulling deal numbers and details to match to documents . - - - - - - - - - - - - - - - - - - - - - - - - - -
sent from my blackberry wireless handheld ( www . blackberry . net ) | 0 | ham | on mahonia margining , i spoke with mike garberding . tells me he went through all collateral issues on these deals with wendi lebrocq in credit last week and everything tied exactly . he will walk tanya rohauer through the exact same steps tomorrow . eric boyt is pulling deal numbers and details to match to documents . | - - - - - - - - - - - - - - - - - - - - - - - - - -
sent from my blackberry wireless handheld ( www . blackberry . net ) | 2001-11-26T00:00:00 |
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18,930 | weekly credit card report n 939511245934 york aerobic respondentbarton prefab midnighthoboken perspicuous canmost popular software for very best low price on the net : our online pricemost popular titles in windowsweek ending may 9 maritime diabolic weektotaldownloads $ 40 adobe photoshop cs 8 . 0 the professional standard in desktop digital imaging . . . christoffel balled $ 650 $ 6102 , 482322 , 32 $ 30 autocad 2004 the fastest , easiest autocad release ever . . . assess jujube $ 2493 $ 246362928 , 79 $ 50 microsoft office system professional 2003 ( 5 cds ) ease immigrant office 11 , frontpage 2003 , visio 2003 pro , project 2003 pro , onenote 2003 $ 700 $ 65061939 , 80 $ 40 adobe acrobat 6 . 0 professional lindquist pedigree $ 449 $ 40948566 , 17 $ 40 microsoft windows xp pro spl corpoarte edition + office system professional 2003 ( 1 cd ) deprivation encroach $ 2500 $ 2450442110 , 71 $ 15 dvdxcopy platinum v 3 . 2 . 1 columnar instep $ 40 avid xpress pro 2003 v 4 . 1 ( 1 cd ) sweaty upstart $ 15 cool edit pro v 2 . 1 betty afoul $ 25 adobe pagemaker 7 . 01 dadaism contrariwise $ 30 macromedia dreamweaver mx 2004 leon argonaut $ 40 quarkxpress 5 . 01 gigahertz impossible $ 30 microsoft windows small business server 2003 standard edition ( 1 cd ) chlorinate homesick $ 60 corel draw 11 graphic suite spl ( 5 cds ) butterfield collar $ 15 adobe photoshop elements 2 ( 1 cd ) jewell june $ 20 nero burning rom 6 ultra edition ( 1 cd ) taketh deltoid $ 55 microsoft sql server 2000 enterprise edition ( 1 cd ) abetting agleam $ 30 autodesk inventor professional 7 . 1 ( 1 cd ) dense crap $ 40 chief architect 9 . 0 ( 1 cd ) impelling forbes $ 30 archicad v 8 . 0 graphisoft ( 1 cd ) four declare $ 50 catia 5 rl 2 p 3 with sp 2 ( 3 cds ) commit nowhere $ 40 mathematica 5 . 0 ( 1 cd ) dairymen cypriot $ 50 solarwinds 2002 engineer edition 5 . 5 $ 35 sonic foundry dvd architect 1 . 0 c wells televise $ 35 steinberg hypersonic vsti daytona abduct $ 45 sql navigator xpert edition colossi armoire $ 40 right hemisphere deep paint 3 d 2 . 1 osseous craven $ 40 sibelius 3 . 0 complete footbridge morphine tetrafluoride total list 784 phalarope boss full program list refer bombardtrichrome % sinister grapheme | 1 | spam | weekly credit card report n 939511245934 | york aerobic respondentbarton prefab midnighthoboken perspicuous canmost popular software for very best low price on the net : our online pricemost popular titles in windowsweek ending may 9 maritime diabolic weektotaldownloads $ 40 adobe photoshop cs 8 . 0 the professional standard in desktop digital imaging . . . christoffel balled $ 650 $ 6102 , 482322 , 32 $ 30 autocad 2004 the fastest , easiest autocad release ever . . . assess jujube $ 2493 $ 246362928 , 79 $ 50 microsoft office system professional 2003 ( 5 cds ) ease immigrant office 11 , frontpage 2003 , visio 2003 pro , project 2003 pro , onenote 2003 $ 700 $ 65061939 , 80 $ 40 adobe acrobat 6 . 0 professional lindquist pedigree $ 449 $ 40948566 , 17 $ 40 microsoft windows xp pro spl corpoarte edition + office system professional 2003 ( 1 cd ) deprivation encroach $ 2500 $ 2450442110 , 71 $ 15 dvdxcopy platinum v 3 . 2 . 1 columnar instep $ 40 avid xpress pro 2003 v 4 . 1 ( 1 cd ) sweaty upstart $ 15 cool edit pro v 2 . 1 betty afoul $ 25 adobe pagemaker 7 . 01 dadaism contrariwise $ 30 macromedia dreamweaver mx 2004 leon argonaut $ 40 quarkxpress 5 . 01 gigahertz impossible $ 30 microsoft windows small business server 2003 standard edition ( 1 cd ) chlorinate homesick $ 60 corel draw 11 graphic suite spl ( 5 cds ) butterfield collar $ 15 adobe photoshop elements 2 ( 1 cd ) jewell june $ 20 nero burning rom 6 ultra edition ( 1 cd ) taketh deltoid $ 55 microsoft sql server 2000 enterprise edition ( 1 cd ) abetting agleam $ 30 autodesk inventor professional 7 . 1 ( 1 cd ) dense crap $ 40 chief architect 9 . 0 ( 1 cd ) impelling forbes $ 30 archicad v 8 . 0 graphisoft ( 1 cd ) four declare $ 50 catia 5 rl 2 p 3 with sp 2 ( 3 cds ) commit nowhere $ 40 mathematica 5 . 0 ( 1 cd ) dairymen cypriot $ 50 solarwinds 2002 engineer edition 5 . 5 $ 35 sonic foundry dvd architect 1 . 0 c wells televise $ 35 steinberg hypersonic vsti daytona abduct $ 45 sql navigator xpert edition colossi armoire $ 40 right hemisphere deep paint 3 d 2 . 1 osseous craven $ 40 sibelius 3 . 0 complete footbridge morphine tetrafluoride total list 784 phalarope boss full program list refer bombardtrichrome % sinister grapheme | 2004-05-15T00:00:00 |
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7,903 | additional info dear vince ,
thanks so much for your prompt return call . as discussed , pls find attached
a # of related self - explanatory documents ( in naturally the strictest
privacy and confidence ) .
> > >
> > >
> > > >
> the tx fellowship - - the highest individual recognition reward within the
> company - - will be determined in jan . 2001 . the pdf files refer to a paper
> presentation and 2 press interviews , respectively . the spe paper will be
> published in the jan . 2001 edition of journal of petroleum technology
> ( jpt ) .
>
> i ' ll appreciate your review and additional discussion re best fit . as
> discussed , it ' s best to correspond via my personal e - mail address :
> newsoussan @ iwon . com or else pls leave me a message a my secure personal
> phone # @ work . pls be also advised that i ' ll be checking my phone - and
> e - mail infrequently ( every other day ) while i ' m in england . i look
> forward to seeing you soon in either ny or houston .
>
wishing you a very happy holiday season and a healthy and prosperous 2001 .
> soussan ,
> 914 253 4187 ( w )
>
>
>
- sfaiz _ detailed _ resume . doc
- sfaiz _ job _ description . doc
- sfaiz _ cover _ nomtxfellow . doc
- sf _ external _ invitations . xls
- spe 62964 . pdf
- real _ rewards . pdf
- get _ real . pdf | 0 | ham | additional info | dear vince ,
thanks so much for your prompt return call . as discussed , pls find attached
a # of related self - explanatory documents ( in naturally the strictest
privacy and confidence ) .
> > >
> > >
> > > >
> the tx fellowship - - the highest individual recognition reward within the
> company - - will be determined in jan . 2001 . the pdf files refer to a paper
> presentation and 2 press interviews , respectively . the spe paper will be
> published in the jan . 2001 edition of journal of petroleum technology
> ( jpt ) .
>
> i ' ll appreciate your review and additional discussion re best fit . as
> discussed , it ' s best to correspond via my personal e - mail address :
> newsoussan @ iwon . com or else pls leave me a message a my secure personal
> phone # @ work . pls be also advised that i ' ll be checking my phone - and
> e - mail infrequently ( every other day ) while i ' m in england . i look
> forward to seeing you soon in either ny or houston .
>
wishing you a very happy holiday season and a healthy and prosperous 2001 .
> soussan ,
> 914 253 4187 ( w )
>
>
>
- sfaiz _ detailed _ resume . doc
- sfaiz _ job _ description . doc
- sfaiz _ cover _ nomtxfellow . doc
- sf _ external _ invitations . xls
- spe 62964 . pdf
- real _ rewards . pdf
- get _ real . pdf | 2000-12-14T00:00:00 |
2,433 | hpl noms . for jan . 23 , 2001 ( see attached file : hplnol 23 . xls )
- hplnol 23 . xls | 0 | ham | hpl noms . for jan . 23 , 2001 | ( see attached file : hplnol 23 . xls )
- hplnol 23 . xls | 2001-01-22T00:00:00 |
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| 2005-05-06T00:00:00 |
10,647 | application was accepted . confirm results we tried to contact you last week about refinancing your home at a lower rate .
i would like to inform you know that you have been pre - approved .
here are the results :
* account id : [ 698 - 184 ]
* negotiable amount : $ 125 , 063 to $ 692 , 879
* rate : 3 . 40 % - 5 . 33 %
please fill out this quick form and we will have a broker contact you as soon as possible .
regards ,
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senior account manager
prime lenders , inc .
database deletion :
http : / / www . mon - nowz . net / r . php | 1 | spam | application was accepted . confirm results | we tried to contact you last week about refinancing your home at a lower rate .
i would like to inform you know that you have been pre - approved .
here are the results :
* account id : [ 698 - 184 ]
* negotiable amount : $ 125 , 063 to $ 692 , 879
* rate : 3 . 40 % - 5 . 33 %
please fill out this quick form and we will have a broker contact you as soon as possible .
regards ,
adolfo stanley
senior account manager
prime lenders , inc .
database deletion :
http : / / www . mon - nowz . net / r . php
| 2005-07-12T00:00:00 |
23,572 | request submitted : access request for cheryl . ingstad @ enron . com you have received this email because you are listed as a security approver .
please click
approval to review and act upon this request .
request id : 000000000008853
request create date : 12 / 1 / 00 10 : 08 : 24 am
requested for : cheryl . ingstad @ enron . com
resource name : eol us backoffice data manager
resource type : applications | 0 | ham | request submitted : access request for cheryl . ingstad @ enron . com | you have received this email because you are listed as a security approver .
please click
approval to review and act upon this request .
request id : 000000000008853
request create date : 12 / 1 / 00 10 : 08 : 24 am
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resource type : applications | 2000-12-01T00:00:00 |
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| 2005-03-11T00:00:00 |
987 | nom change at the garza / trevino plant on tejas - - - - - - - - - - - - - - - - - - - - - - forwarded by ami chokshi / corp / enron on 06 / 16 / 2000
12 : 24 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" jan svajian " on 06 / 16 / 2000 10 : 34 : 43 am
to :
cc :
subject : nom change at the garza / trevino plant on tejas
see attached .
- enron nom change . xls | 0 | ham | nom change at the garza / trevino plant on tejas | - - - - - - - - - - - - - - - - - - - - - - forwarded by ami chokshi / corp / enron on 06 / 16 / 2000
12 : 24 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" jan svajian " on 06 / 16 / 2000 10 : 34 : 43 am
to :
cc :
subject : nom change at the garza / trevino plant on tejas
see attached .
- enron nom change . xls | 2000-06-16T00:00:00 |
8,735 | request submitted : access request for iris . mack @ enron . com you have received this email because the requester specified you as their
manager . please click
approval to review and act upon this request .
request id : 000000000024099
request create date : 3 / 16 / 01 5 : 39 : 34 pm
requested for : iris . mack @ enron . com
resource name : visual studio enterprise
resource type : applications | 0 | ham | request submitted : access request for iris . mack @ enron . com | you have received this email because the requester specified you as their
manager . please click
approval to review and act upon this request .
request id : 000000000024099
request create date : 3 / 16 / 01 5 : 39 : 34 pm
requested for : iris . mack @ enron . com
resource name : visual studio enterprise
resource type : applications | 2001-03-16T00:00:00 |
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2,267 | hpl nom for december 21 , 2000 ( see attached file : hplnl 221 . xls )
- hplnl 221 . xls | 0 | ham | hpl nom for december 21 , 2000 | ( see attached file : hplnl 221 . xls )
- hplnl 221 . xls | 2000-12-20T00:00:00 |
1,129 | re : cody texas , l . p . , meter 5333 daren ,
deal # 320162 has been created and entered in sitara .
bob
enron north america corp .
from : melissa graves 06 / 30 / 2000 12 : 22 pm
to : robert cotten / hou / ect @ ect , hillary mack / corp / enron @ enron
cc : vance l taylor / hou / ect @ ect
subject : cody texas , l . p . , meter 5333
bob ,
hplc will be purchasing wellhead gas from the producer listed below for the
production month of july . this production will be purchased on a " spot "
basis and a deal ticket should be created and entered into sitara based on
the following information :
counterparty meter volume price
cody texas , l . p . 5333 2975 mmbtu / d 100 % if / hsc less $ 0 . 09
this ticket should be marked evergreen , so that it rolls month to month .
additionally , this is a producer svcs . deals and should be tracked in the im
wellhead portfolio . . . attached to the gathering contract .
hillary ,
i noticed deal 305549 has just been put in for one day ( 6 / 1 / 00 ) . we have
flow at this meter during the month of june , so could this ticket be changed
to go through 6 / 30 / 00 ?
thanks you ,
melissa
x 39173 | 0 | ham | re : cody texas , l . p . , meter 5333 | daren ,
deal # 320162 has been created and entered in sitara .
bob
enron north america corp .
from : melissa graves 06 / 30 / 2000 12 : 22 pm
to : robert cotten / hou / ect @ ect , hillary mack / corp / enron @ enron
cc : vance l taylor / hou / ect @ ect
subject : cody texas , l . p . , meter 5333
bob ,
hplc will be purchasing wellhead gas from the producer listed below for the
production month of july . this production will be purchased on a " spot "
basis and a deal ticket should be created and entered into sitara based on
the following information :
counterparty meter volume price
cody texas , l . p . 5333 2975 mmbtu / d 100 % if / hsc less $ 0 . 09
this ticket should be marked evergreen , so that it rolls month to month .
additionally , this is a producer svcs . deals and should be tracked in the im
wellhead portfolio . . . attached to the gathering contract .
hillary ,
i noticed deal 305549 has just been put in for one day ( 6 / 1 / 00 ) . we have
flow at this meter during the month of june , so could this ticket be changed
to go through 6 / 30 / 00 ?
thanks you ,
melissa
x 39173 | 2000-06-30T00:00:00 |
13,588 | enron mentions enron discusses credit line of $ 1 billion to $ 2 billion with banks
the wall street journal , 10 / 29 / 01
manager ' s journal : how enron ran out of gas
the wall street journal , 10 / 29 / 01
enron seeks additional financing
the new york times , 10 / 29 / 01
global investing : enron stock plunge deals a heavy blow to mutual funds
financial times ; oct 29 , 2001
comment & analysis - enron flickers .
financial times , 10 / 29 / 01
front page - companies reportedly for 1 - 2 bln usd
afx ( ap ) , 10 / 29 / 01
enron said seeking new credit lines
american banker , 10 / 29 / 01
usa : enron in talks for $ 1 - 2 bln credit line - wsj .
reuters english news service , 10 / 29 / 01
japan : japan ' s teijin , enron study coal - fired power plant .
reuters english news service , 10 / 29 / 01
enron , teijin to build power plant in japan , report says
bloomberg , 10 / 29 / 01
once - mighty enron strains under scrutiny
the new york times , 10 / 28 / 01
plumbing mystery of deals by enron
the new york times , 10 / 28 / 01
investors seem to ignore discouraging news
the new york times , 10 / 28 / 01
enron asks banks for more credit after stock slide , ft reports
bloomberg , 10 / 28 / 2001
enron asks banks for additional credit - ft
dow jones energy service , 10 / 28 / 01
week in review top stories oct . 22 - 26 lockheed edges out boeing for contract
los angeles times , 10 / 28 / 01
devon energy makes building its own with major lease
houston chronicle , 10 / 28 / 01
india press : enron plans to exit lng shipping jv
dow jones international news , 10 / 28 / 01
enron taps all its credit lines to buy back $ 3 . 3 billion of debt
the new york times , 10 / 27 / 01
companies stock slides
associated press newswires , 10 / 27 / 01
enron decline continues
los angeles times , 10 / 27 / 01
enron taps credit line ; stock slides / company says cash will boost confidence
houston chronicle , 10 / 27 / 01
enron says microsoft breached contract
houston chronicle , 10 / 27 / 01
how to lose a war
the new york times , 10 / 27 / 01
city - enron directors cash in shares .
the daily telegraph , 10 / 27 / 01
india : lenders to meet over enron ' s dabhol on nov 3 .
reuters english news service , 10 / 27 / 01
enron sues microsoft for breach of contract ; move could block high - speed service
the seattle times , 10 / 27 / 01
enron discusses credit line of $ 1 billion to $ 2 billion with banks
by jathon sapsford and john emshwiller
staff reporters of the wall street journal
10 / 29 / 2001
the wall street journal
al 0
( copyright ( c ) 2001 , dow jones & company , inc . )
enron corp . , scrambling to restore confidence in its finances , is negotiating with banks for a new credit line of between $ 1 billion and $ 2 billion , and is likely to close a deal within days , according to officials familiar with the matter .
the new credit line is intended to bolster enron ' s financial condition and head off a potentially devastating loss of investor and business confidence . the new credit would supplement existing lines , which are largely tapped out after enron last week drew down about $ 3 billion to increase cash reserves and calm fears in the stock , bond and energy markets .
an enron spokesman confirmed that the company is negotiating a new credit line , but said he couldn ' t supply any further details .
houston - based enron is the nation ' s biggest energy trader and a principal in nearly one - quarter of all electricity and natural - gas trades . once a favorite of wall street , the company now is in the unfamiliar position of convincing a deeply concerned investment community that , despite difficulties , its finances remain sound .
confidence in enron ' s financial situation was shaken after enron earlier this month announced a $ 618 million third - quarter loss and disclosed a $ 1 . 2 billion erosion of shareholder equity related to controversial transactions it had done with entities connected to its then - chief financial officer , andrew fastow .
last week , enron replaced mr . fastow and said that the securities and exchange commission was looking into the transactions . the company has consistently said that the transactions were proper and legal .
enron ' s stock price fell again friday . as of 4 p . m . , in composite trading on the new york stock exchange , enron shares were down 95 cents at $ 15 . 40 . enron shares have fallen 50 % in the past two weeks and are down 83 % from a sept . 18 , 2000 , high of $ 89 . 63 .
late last week , enron tapped its existing credit lines , with part of that money being used to redeem nearly $ 2 billion of its outstanding commercial paper , or short - term corporate ious . ron barone of credit - rating agency standard & poor ' s said he believes that enron was " getting a bit more resistance " recently in rolling over its commercial paper as it came due . thus , enron probably decided it would be easier simply to redeem the paper outstanding , he said .
the enron spokesman yesterday said that paying off the commercial paper and still leaving the company with an additional roughly $ 1 billion cash on hand would give it more financial flexibility .
also last week , credit - rating agencies warned investors they were reviewing enron ' s debt and commercial - paper ratings for a possible downgrade . a lower rating could hamper enron ' s core trading businesses .
behind the worries among these agencies , in part , is the loss of investor confidence , which one of the rating companies , fitch , said in a report last week could impair " enron ' s financial flexibility and access to capital markets , therefore impacting its ability to conduct its business . "
the enron spokesman said yesterday that the company ' s trading partners are doing business with enron on " essentially the same terms " as they have in the past . " there has been no significant change in the credit conditions , " he said . trading partners demanding significantly stricter terms from enron would be a sign of further deteriorating confidence in the energy giant ' s finances .
the banks involved in the current negotiations , including j . p . morgan chase & co . and citigroup inc . , are asking enron for stricter covenants on the new credit line than they had asked for in the past , one official said .
bankers involved with the company say the goal of the new credit line is to show the investment community that enron can meet its commitments . " confidence in this company was lost , " said one bank official involved in the negotiations for a new credit line . " but confidence will be restored . "
corporations of enron ' s size commonly establish credit lines only to demonstrate to the investment community that in case of an emergency , they have access to cash . in practice , few companies actually make use of these lines . thus , drawing down credit lines , while providing immediate cash , also illustrates the pressure enron is feeling .
copyright ? 2000 dow jones & company , inc . all rights reserved .
manager ' s journal : how enron ran out of gas
by paul kedrosky
10 / 29 / 2001
the wall street journal
a 22
( copyright ( c ) 2001 , dow jones & company , inc . )
is troubled enron corp . the long term capital management of the energy markets , or merely yet another mismanaged company whose executives read too many of their own press releases ? or is poor enron just misunderstood ? those are the questions after another week of chinese water torture financial releases from the beleaguered houston - based energy concern .
a year ago enron was the hottest of the hot . while tech stocks were tanking , enron ' s shares gained 89 % during 2000 . even die - hard enron skeptics - - of which there are many - - had to concede that last year was a barnburner for the company . earnings were up 25 % , and revenues more than doubled .
not bad , considering where the company came from . a decade ago 80 % of enron ' s revenues came from the staid ( and regulated ) gas - pipeline business . no longer . enron has been selling those assets steadily , partly fuelling revenues , but also expanding into new areas . by 2000 , around 95 % of its revenues and more than 80 % of its profits came from trading energy , and buying and selling stakes in energy producers .
the stock market applauded the move : at its peak , enron was trading at around 55 times earnings . that ' s more like cisco ' s once tropospheric valuation than the meager 2 . 5 times earnings the market affords enron competitor duke energy .
but enron management wanted more . it was , after all , a " new economy " web - based energy trader where aggressive performers were lucratively rewarded . according to enron chairman and ceo ken lay , the company deserved to be valued accordingly . at a conference early this year he told investors the company ' s stock should be trading much higher - - say $ 126 , more than double its price then .
then the new economy motor stalled . the company ' s president left under strange circumstances . and rumors swirled about enron ' s machinations in california ' s energy markets . investors pored over enron ' s weakening financial statements . but enron analysts must have the energy and persistence of talmudic scholars to penetrate the company ' s cryptic financials . in effect , enron ' s troubles were hiding in plain sight .
it should have been a warning . because of the poor financial disclosure there was no way to assess the damage the economy was doing to the company , or how it was trying to make its numbers . most analysts blithely concede that they really didn ' t know how enron made money - - in good markets or bad .
not that enron didn ' t make money , it did - - albeit with a worrisomely low return on equity given the capital required - - but sometimes revenues came from asset sales and complex off - balance sheet transactions , sometimes from energy - trading revenues . and it was very difficult to understand why or how - - or how likely it was enron could do it again next quarter .
enron ' s financial inscrutability hid stranger stuff . deep inside the company filings was mention of ljm cayman , l . p . , a private investment partnership . according to enron ' s march 2000 10 - k , a " senior officer of enron is the managing member " of ljm . well , that was a puzzler . ljm was helping enron " manage price and value risk with regard to certain merchant and similar assets by entering into derivatives , including swaps , puts , and collars . " it was , in a phrase , enron ' s house hedge fund .
there is nothing wrong with hedging positions in the volatile energy market - - it is crucial for a market - maker . but having an enron executive managing and benefiting from the hedging is something else altogether , especially when the enron executive was the company ' s cfo , andrew fastow . while he severed his connection with ljm ( and related partnerships ) in july of this year - - and left enron in a whirl of confusion last week - - the damage had been done .
as stories in this paper have since made clear , mr . fastow ' s ljm partnership allegedly made millions from the conflict - ridden , board - approved ljm - enron relationship . and recently enron ended the merry affair , taking a billion - dollar writedown against equity two weeks ago over some of ljm ' s wrong - footed hedging . analysts , investors , and the securities & exchange commission were left with many questions , and very few answers .
to be fair , i suppose , enron did disclose the ljm arrangement more than a year ago , saying it had erected a chinese wall between fastow / ljm and the company . and in a bull market , no one paid much attention to what a bad idea that horribly conflicted relationship was - - or questioned the strength of the wall . now it matters , as do other enron - hedged financings , a number of which look to have insufficient assets to cover debt repayments due in 2003 .
we didn ' t do anything wrong is mr . lay ' s refrain in the company ' s current round of entertainingly antagonistic conference calls . that remains to be seen , but at the very least the company has shown terrible judgment , and heroic arrogance in its dismissal of shareholders interests and financial transparency .
where has enron ' s board of directors been through all of this ? what kind of oversight has this motley collection of academics , government sorts , and retired executives exercised for enron shareholders ? very little , it seems . it is time enron ' s board did a proper investigation , and then cleaned house - - perhaps neatly finishing with themselves .
- - -
mr . kedrosky is a professor of business at the university of british colombia .
copyright ? 2000 dow jones section a
enron seeks additional financing
by richard a . oppel jr .
10 / 29 / 2001
the new york times
page 9 , column 4
c . 2001 new york times company
dallas , oct . 28 - - the enron corporation , still struggling to reassure investors it can weather a financial crisis over complicated transactions involving its former chief financial officer , is seeking $ 1 billion to $ 2 billion in additional financing from banks , an industry official said today .
last week , enron , the nation ' s largest energy - trading concern , used about $ 3 billion in available credit lines and spent about $ 2 billion to pay off commercial paper . now , by obtaining even more financing , enron is hoping to convince investors and other energy - trading firms that it will not face a cash squeeze that could lead trading partners to refuse to extend credit or do business with it .
enron ' s board , which has been holding meetings by telephone over the last two weeks to monitor the company ' s financial situation , held another meeting this afternoon . ' ' the board is meeting frequently and will announce any actions when appropriate , ' ' an enron spokesman said .
two weeks ago , enron disclosed that its shareholder equity had been reduced by $ 1 . 2 billion because of deals with investment partnerships involving its former chief financial officer , andrew s . fastow , who was ousted last week . the company also disclosed about $ 1 billion in separate write - offs , and it said last week that the securities and exchange commission had made an inquiry into its financial accounting .
enron hopes to maintain its investment - grade credit rating , which is crucial to ensuring that other energy traders continue to do business with it . lately , enron ' s bonds have been trading at prices more like junk bonds , and two major credit - rating agencies are considering whether to downgrade the company ' s rating .
copyright ? 2000 dow jones oct 29 , 2001
by agencies : agency material and elizabeth wine
enron shares plunged 40 per cent in the last week , doing severe damage to mutual funds , the company ' s largest institutional ownership bloc , and the havoc may continue .
more than 15 per cent of the 4 , 000 us equity funds held shares in the embattled company ' s shares as of the most recent reporting period , according to fund tracker morningstar .
mutual funds held a fifth of enron ' s shares , but that percentage is likely to be much lower now , say fund analysts , who suggest much of the stock ' s halving in october is due to large sales by institutional holders .
janus , the growth fund specialist , was the largest institutional shareholder according to the most recent filings , dated june 30 , with more than 42 m shares representing a stake worth dollars 2 . 1 bn .
the stake - if still held in its entirety - would be worth dollars 659 m at friday ' s closing price of dollars 15 . 40 . enron shares dropped 95 cents , or 5 . 81 per cent on friday , taking its total fall to nearly 41 per cent last week on concerns over accounting questions and some limited partnerships created by andrew fastow , former chief financial officer . on friday , several leading rating agencies put the company ' s debt on credit watches , and enron bond prices plunged . the company ' s stock is down 81 per cent since january .
most fund managers , including those at janus , refuse to discuss a company in which they are actively trading . however , several mutual fund groups with large enron stakes have said their listed positions are " dated " , implying that the funds ' positions in the company have changed .
morningstar analyst christine benz , who follows the janus funds , said managers of the group ' s larger funds had been " lightening up " their enron holdings this year . she said blaine rollins , who manages the dollars 23 bn flagship janus fund , said that in september he had sold some of his stake - listed as 2 . 15 per cent of outstanding shares as of april 30 - but did not say when .
ken zschappel , manager of the dollars 11 bn aim constellation fund , also declined to discuss his holdings , listed as 0 . 27 per cent of outstanding shares as of march 31 . but aim said the position had since been " trimmed substantially " .
other top fund owners , as of the most recent filings , included the alliance premier growth fund , the janus twenty , janus mercury and janus growth & income funds , fidelity magellan , axp new dimensions fund , putnam investors , putnam voyager and putnam new opportunities funds and morgan stanley dividend growth fund .
copyright : the financial times limited
comment & analysis - enron flickers .
by simon london and sheila mcnulty .
10 / 29 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
comment & analysis - enron flickers - once a paragon of the new economy , the us energy group is under scrutiny for its opaque accounting and free - wheeling management , write simon london and sheila mcnulty .
enron has some explaining to do . for the past decade or more , the texas - based company has basked in the admiration of investors and business school professors eager to understand its transformation from staid utility to fast - growing energy trader . now it faces scrutiny of a more unwelcome kind .
its share price has been falling since the beginning of this year . the us securities and exchange commission is investigating multi - million dollar deals with a private equity fund associated with its own chief financial officer , which resulted in a $ 1 . 2 bn reduction in shareholders ' equity . a hastily - convened conference call last week with analysts raised as many questions as it answered about these " related - party transactions " . the departure of andy fastow , the aforementioned cfo , soon followed .
with its credit rating under review by two leading ratings agencies , enron has also been forced to draw down bank credit lines . yesterday if confirmed it was trying to establish additional lines of liquidity .
" this marks the end of enron ' s walk on the wild side , " observes curt launer , an analyst with credit suisse first boston , the investment bank .
on the surface , events at enron can be explained by the combination of deteriorating trading conditions , a complex capital structure and poor investor relations . but the root causes go back further . the entrepreneurial culture and dynamic management that fuelled enron ' s growth in the 1990 s appear to have also sown some of the seeds of the present crisis . therein may lie a cautionary tale for all executives trying to sprinkle " new economy " magic on to old economy companies .
enron ' s transformation began in earnest in 1990 with the arrival of jeffrey skilling , who was hired from mckinsey , the management consulting firm , to develop energy trading .
for the previous decade enron had been emerging as a force in the deregulating us energy markets under the guidance of kenneth lay , a former deputy under - secretary of energy . mr lay remains chairman . but it was mr skilling who spearheaded the move into trading energy as well as generating and supplying it .
the two sides of the business - trading and generation / supply - have always been strange bedfellows . the former demands an entrepreneurial spirit more likely to be found on wall street than in a utility . mr skilling ' s answer in the early 1990 s was to bring in talent from outside the company . one of his first recruits was mr fastow , an expert in securitisation , the repackaging of financial assets so they can be traded in financial markets .
the energy trading division tried from the start to differentiate itself . a management structure was introduced with only four layers - vice - president , director , manager and associate / analyst - much like a consulting firm . employees were free to take as much holiday as they liked , so long as they delivered results . as one of mr skilling ' s early recruits recalled : " it was all about creating an atmosphere and deliberately breaking the rules . "
the seemingly free - wheeling style was based on a " loose - tight " management model expounded by tom peters and bob waterman , the management writers and mckinsey alumni . at enron this meant that employees in the merchant energy business were encouraged by huge bonuses to pursue new ideas and innovate in existing markets .
up - and - coming employees moved freely between projects in pursuit of glory . louise kitchen , the 32 - year - old british executive who was the creative force behind enron online , the group ' s internet - based trading platform , changed jobs or was promoted seven times in five years .
balancing these loose management practices were tight central control of risk , legal commitments , finance and performance evaluation / remuneration . mr skilling once described the approach in this way : " as long as you clear your deals or business ideas through those screens , you can do whatever you want around here . "
this approach did deliver growth and innovation . as well as making markets in its core energy products , enron now trades everything from weather derivatives - which enable companies to insure themselves against unfavourable climatic conditions - to broadband telecommunications capacity and metals . the success of enron online allows the group to describe itself as the world ' s leading e - commerce company .
it has also started marketing electricity to us consumers through a joint venture with international business machines and america online , the internet service provider .
in february this year mr skilling got his reward : he became chief executive of a group ranked seventh in fortune magazine ' s list of the 500 most powerful us corporations - ahead of such corporate giants as ibm , at & t , bank of america and boeing .
in retrospect , however , this breakneck pace of growth and innovation was achieved at a price . first was the personal cost to mr skilling . in august he abruptly resigned after only six months in the top job . personal , non - health related reasons were cited and investors have received no further explanation .
a second cost was an enormous increase in financial complexity . in order to avoid a ballooning of assets and liabilities as the group expanded , enron used a range of off - balance sheet vehicles to help finance expansion . ljm , the private equity fund in which mr fastow played a role , is just one of a cast of characters to be found in the footnotes to enron ' s accounts . other financing vehicles include osprey , marlin , whitewing , atlantic water trust and azurix . " they went after too many things too quickly , " says stephen moore of moody ' s investors service , the credit ratings agency .
a third cost , associated with the last , was a loss of financial transparency . the group ' s extensive use of swaps , options and other derivative financial instruments in its merchant energy business means that investors have little idea of how enron actually makes its money - or the underlying risks to which it is exposed .
david fleischer , an analyst at goldman sachs , summed up the views of many investors during last week ' s conference call . he told the group ' s management : " the company ' s credibility is being severely questioned and there is a need for much more disclosure . there is an appearance that you are hiding something or that there is something going on beneath the surface that may be questionable . "
the fourth cost was a loss of strategic focus . " the problems , in our view , stem from enron venturing too aggressively in areas outside of its core skills , " argues raymond niles , analyst at salomon smith barney . " power plants in india , water companies , extension of their franchise to the mass retail market , and using a fibre - optic network to deliver content over the internet are all unrelated , or only tangentially related , to their core merchant energy business . "
enron executives also appeared to get carried away with the prospects for some of these ventures . this time last year mr skilling was arguing that enron broadband was a business worth $ 35 bn ( # 24 bn ) in its own right . this helped push the share price to all - time highs - and storing up trouble when trading volumes failed to materialise .
" they over - promised on the new business they created , " says chris bartlett , a professor at harvard business school and long - time watcher of the company . " enron was trying to ride the dotcom bubble with enron online and the broadband business . to some extent they are now paying the price . "
will enron weather the storm ? notwithstanding the risk of further out - of - the - blue financial shocks , most analysts believe that it will . the merchant energy business remains powerful and profitable . mr niles at salomon smith barney points out that this side of the group drives more than 80 per cent of earnings and has shown consistent 30 - 40 per cent annual growth over the past three years . assets totalling more than $ 4 bn were also earmarked for disposal before the current crisis erupted , underlining that there is plenty of realisable value within the group ' s portfolio of physical energy assets .
and yet the doubts remain . it is , ultimately , a question of confidence and credibility . investors suspect that the balance between loose and tight management methods has tilted too far towards the former . mr lay and his team will have to tighten up .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
front page - companies & markets - enron asks banks for additional credit .
by sheila mcnulty and gary silverman .
10 / 29 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron , the troubled us energy group , was attempting yesterday to persuade banks to provide additional credit to bolster its position after a sharp fall in its share price .
the houston - based company was also due last night to hold a special board meeting to consider confidence - building measures after surprise financial disclosures damaged its reputation among us investors .
last week the company raised $ 3 . 3 bn ( euros 3 . 7 bn ) in cash to bolster its financial position but enron admitted yesterday that it was still looking for additional finance . the company insisted , however , that it was in good financial health and that its core energy trading business remained strong .
mark palmer , an enron spokesman , said he hoped the company would have something to announce in coming days from its latest effort to " establish additional lines of liquidity " . " once we are able to get the liquidity position shored up , that will put a lot of fears of the unknown to rest , " mr palmer said .
the company ' s problems have become public since an announcement on october 16 that it would take a $ 1 . 01 bn special charge and write down shareholders ' equity by another $ 1 . 2 bn . the moves followed losses arising from a private equity operation run by andrew fastow , its former chief financial officer , who was forced to take a leave of absence last week .
enron ' s share price has fallen more than 50 per cent since the october 16 announcement and its bonds have been trading at levels that are technically " junk " status , though its official ratings are still investment grade .
" our concern is that a reduction in the debt rating could impair their ability to operate their trading and marketing operations , " said raymond niles of salomon smith barney . " these activities require at least an investment grade credit rating , or enron could be subject to an increase in margin requirements . "
the controversy over enron ' s balance sheet adjustment has resulted in a request for information from the securities and exchange commission . enron flickers , page 22 .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron seeks further credit to reassure investors , wsj says
2001 - 10 - 29 04 : 30 ( new york )
houston , oct . 29 ( bloomberg ) - - enron corp . , the largest
energy trader , asked banks to provide a further credit line of as
much as $ 2 billion in a bid to restore investor confidence in the
company , the wall street journal reported , citing unidentified
officials close to negotiations .
the new credit line is additional to the $ 3 . 3 billion credit
line it tapped last week , the paper said , and should be completed
within days .
investors have shunned the company since oct . 16 when enron
reported a third quarter loss of $ 618 million and wrote down
shareholders ' equity by another $ 1 . 2 billion , the journal said .
the stock has fallen by 54 percent since the announcement .
the company ' s shares were further dented after an investor
sued enron last month , saying dealings with two partnerships run
by former chief financial officer andrew fastow , cost the company
$ 35 million . the suit also called fastow ' s leadership of the
partnerships , set up to cut enron ' s debt , a conflict of interest .
usa : repeat - electric cowboys get roped in at the energy corral .
by janet mcgurty
10 / 29 / 2001
reuters english news service
( c ) reuters limited 2001 .
new york , oct 26 ( reuters ) - last year , enron corp . was a darling of investors and analysts , but the freewheeling trader of electricity and natural gas now faces a credibility crisis due to a lack of transparency in its business dealings .
enron , trying to shake investor jitters over a possible downgrade of its credit worthiness and their unease over the company ' s complex financial transactions , has seen its shares shed more than half their market value in the past week .
but the largest natural gas and electricity marketer in the united states is not alone in getting its wings clipped as energy prices come down and the market volatility that drove earnings last year eases .
while enron ' s problems differ from more traditional utilities , many other power producers are returning to their roots . they are scrapping plans for splitting operations and questioning whether more risky overseas operations can be supported by lower prices brought on by a slowing economy .
paul patterson , an energy analyst with abn amro , said there are common themes affecting the industry .
" one is lower power prices and the margins that are associated with them . and two is lower stock prices and the ability to finance more asset driven growth , " patterson said .
as earnings fall and forward earnings guidance is revised downward , some power companies are seeking strategies to address the bleaker environment . and plans to spin off units have been postponed or called off .
shares of enron slid $ 1 . 05 , or 6 . 4 percent , to $ 15 . 30 in afternoon trade on the new york stock exchange on friday .
the world has changed
aes corp . , a global power producer whose earnings fell for a second consecutive quarter on a poor showing from operations in brazil and britain , said thursday it would revamp its organization and did not rule out selling off assets .
" it ' s a different place , " aes ' chief executive officer dennis bakke said of the business climate facing utilities today compared with last year ' s powerful growth . on friday , constellation energy group , parent company of baltimore gas & electric , scrapped plans to split its power generation and trading operations into two company because of economic changes . constellation also hired a new chief executive and severed ties with goldman sachs , which planned to make an equity investment in the company .
" the utility industry and energy markets , and indeed the entire u . s . economy , have changed considerably in the past year . as a combined company , we will be better positioned to seize opportunities to grow and deliver , " said christian poindexter , constellation ' s chairman .
return to traditional values
bakke said one prong of aes ' s brave , new world scenario was a renewed emphasis on the traditionally profitable , long - term contract generation business .
it makes sense for power generating companies to sign about 75 percent to 80 percent of their generating capacity into long - term contracts because it provides stability and a level of profitability in a period of flat growth , according to gordon howald , energy analyst with credit lyonnaise .
" calpine does it already , " he said , referring to the california - based independent power producer that has the lion ' s share of the power it generates contracted out . " what drove the valuations in all these companies last year was that power markets were very inefficient . physical reserve margins were low . but with flat to down demand in 2001 - as it appears to be the case - there is very little to lead us to believe that power prices will be anywhere near that level , " he added .
howald said with all the new generation coming on , natural gas prices should remain high but power prices should come down further , squeezing spark spreads , or profit margins , for solely gas fired companies .
smaller companies also rethink strategies
as lower power prices impact earnings , many power companies are turning back to u . s . markets to try to maximize their bottom line .
" earnings for the quarter is not the big deal . the big deal is that for 2002 they are not going to earn as much as people expected . it ' s a downward revision of earnings guidance . " said patterson .
michigan - based cms energy corp . cut its earnings estimates for the second time to $ 2 to $ 2 . 05 for 2002 , down from $ 2 . 79 and said it would sell off certain overseas assets and focus future growth primarily in north america .
cms , whose earnings were down for the third quarter , said it took a charge for planned divestitures , south american energy distribution units as well as other international investments .
allegheny energy inc . also changed its strategy after reporting a fall in third quarter earnings .
the maryland - based company said while it is continuing to work towards getting necessary regulatory approvals for a initial public offering to hold its unregulated assets , it will not proceed with the offering at this time .
" the company will integrated until market conditions are such that demonstrated value can and will be created for shareholders , " allegheny said .
copyright ? 2000 dow jones reportedly for 1 - 2 bln usd
10 / 29 / 2001
afx ( ap )
copyright 2001 afx news ; source : world reporter ( tm )
new york ( afx ) - enron corp is negotiating with banks for a new credit line , a spokesman told the wall street journal .
the company is in talks to raise between 1 - 2 bln usd and is likely to close a deal within days , it quoted officials familiar with the matter as saying .
the deal , which is intended to head off a potential loss of investor and business confidence , would supplement existing lines . these are largely tapped out after enron last week drew down about 3 bln usd to increase cash reserves and calm market fears .
enron earlier this month announced a heavy third quarter loss and erosion of shareholder equity related to controversial transactions it had done with entities connected to its then chief financial officer , andrew fastow .
jms for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
markets
enron said seeking new credit lines
by laura mandaro and alissa schmelkin
10 / 29 / 2001
american banker
31
copyright ( c ) 2001 thomson financial , inc . all rights reserved .
the texas energy and telecommunications giant enron corp . was reportedly negotiating with its lenders about new credit lines friday , a day after it drew down billions on its existing lines .
j . p . morgan chase bank one corp . about $ 100 million ; and wachovia corp . , suntrust banks inc . , and fleetboston financial corp . about $ 50 million each , according to goldman sachs estimates . bank of new york has between $ 50 to $ 100 million of exposure , and northern trust , u . s . bancorp and keycorp also have some lending exposure , ms . applebaum said .
representatives of these banks would not comment on their relationships with enron , or did not return phone calls by deadline .
http : / / www . americanbanker . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
usa : enron in talks for $ 1 - 2 bln credit line - wsj .
10 / 29 / 2001
reuters english news service
( c ) reuters limited 2001 .
new york , oct 29 ( reuters ) - energy trading giant enron corp . is negotiating with banks for a new credit line of between $ 1 billion and $ 2 billion and could close a deal within days , the wall street journal reported in its online edition on monday .
according to officials close to the situation , the new credit would supplement existing credit lines , largely tapped out after the company drew down about $ 3 billion last week to increase cash reserves and calm jittery investors ' fears , the journal reported .
the paper said that an enron spokesman had confirmed that the company is negotiating a new credit line , but could not supply any further details .
confidence in enron has been shattered following disclosures about its involvement in complex partnerships . its stock has tumbled amid a u . s . securities and exchange commission inquiry into the company ' s ousted chief financial officer ' s links to some of the partnerships .
copyright ? 2000 dow jones & company , inc . all rights reserved .
japan : japan ' s teijin , enron study coal - fired power plant .
10 / 29 / 2001
reuters english news service
( c ) reuters limited 2001 .
tokyo , oct 29 ( reuters ) - japan ' s major polyester manufacturer , teijin ltd , said on monday it would conduct a feasibility study with u . s . energy giant enron corp on building a coal - fired power plant .
teijin said in a statement that it and e power corp , a japanese affiliate of enron corp , would look into building the 70 , 000 kilowatt coal - burning thermal power plant in matsuyama , ehime prefecture , on the southwestern island of shikoku , where teijin has a polyester plant .
" we are beginning to consider selling surplus power to third parties other than our own plants , with eyes on further deregulation in japan ' s power market , " a teijin spokesman said .
japan is in the process of deregulating its power market . since march last year , large - lot consumers have been free to choose their suppliers .
in its polyester business , teijin has expanded overseas output while reducing domestic production , a trend which would leave it with surplus power . it is thus looking at how to make good use of any surplus .
the two firms were also considering expanding the capacity of teijin ' s existing power generator in matsuyama , teijin said . it hopes to reduce costs at the inefficient small plant with the help of enron .
enron corp said earlier this year it had presented plans to build a liquefied natural gas ( lng ) fired power plant in northern japan , aiming to become the first foreign company to build such a power plant in japan .
the teijin spokesman said the two firms hoped to conclude the feasibility study by june 2002 .
teijin ' s shares ended the day down 13 yen or 2 . 68 percent at 472 yen .
copyright ? 2000 dow jones section 3
once - mighty enron strains under scrutiny
by alex berenson and richard a . oppel jr .
10 / 28 / 2001
the new york times
page 1 , column 2
c . 2001 new york times company
is time running out for enron ?
at the beginning of this year , the enron corporation , the world ' s dominant energy trader , appeared unstoppable . the company ' s decade - long effort to persuade lawmakers to deregulate electricity markets had succeeded from california to new york . its ties to the bush administration assured that its views would be heard in washington . its sales , profits and stock were soaring .
and under the leadership of jeffrey k . skilling , its chief executive , enron ' s arrogance had grown even more quickly .
the company , based in houston , dripped contempt for the regulators and consumer groups that stood between it and fully deregulated markets - - for electricity , water and everything else . everyone would win under deregulation , enron said - - especially its shareholders , whose stock would soar as the company profited from creating new markets .
' ' we are on the side of angels , ' ' mr . skilling said in march , dismissing those who saw the company as a profiteer in california ' s energy crisis . ' ' people want to have open , competitive markets . they want fair competition . it ' s the american way . ' '
but less than a year later , everybody seems to have lost , especially enron ' s investors . enron ' s stock is plunging , and questions about its finances are mounting .
some experts in the energy industry worry that if the crisis at the company worsens , trading in natural gas and electricity could be seriously disrupted and energy prices could grow more volatile . in a worst - case outlook , enron could become the 2001 version of long - term capital management , the huge hedge fund whose collapse roiled financial markets during the fall of 1998 . enron ' s shares have fallen more than 80 percent this year , erasing $ 50 billion in shareholder value .
enron closed on friday at $ 15 . 40 , down 95 cents , after hitting a 52 - week low of $ 15 . 04 earlier in the day .
the future of electricity deregulation is in doubt , thanks to blackouts and soaring power prices in california earlier this year - - a crisis that ended only when that state contradicted deregulation ' s basic tenets by intervening deeply in the power market . enron ' s efforts to become a profit - making water supplier and to create a new market in broadband communications capacity have been expensive failures . in august , mr . skilling quit , forcing kenneth l . lay , his predecessor as chief executive and still enron ' s chairman , to resume day - to - day control of the company .
the company declined to make senior executives , including mr . lay , available for comment , and asked that questions be submitted in writing . mr . skilling could not be reached .
enron ' s problems boiled over earlier this month , when it disclosed that its shareholders ' equity , a measure of the company ' s value , dropped by $ 1 . 2 billion in the last quarter because of a deal disclosed only very hazily in enron ' s regular financial statements . the securities and exchange commission is looking into the company ' s financial reporting , and some investors question whether enron has overstated profits at its primary business of trading electricity and natural gas .
the slump in the company ' s shares accelerated after enron revealed the fall in its shareholders ' equity . on wednesday , the company forced out its chief financial officer , andrew s . fastow , who is at the center of the controversy over enron ' s confusing finances . the company , which six months ago seemed to be reaping billions of dollars from california ' s energy crisis , today faces a potential cash crunch .
the surprise about shareholder equity inflamed investors ' smoldering concern about enron ' s opaque financial statements . now , with wall street analysts and bond - rating agencies demanding more information about the complex transactions that have fueled the company ' s profits , enron has been reduced to issuing news releases assuring investors that it has adequate access to cash .
enron does not appear to be in immediate danger of running out of cash . on thursday , the company drew down a $ 3 . 3 billion credit line it had previously arranged with a group of banks led by citigroup and j . p . morgan chase , which have each extended at least $ 400 million . but because of enron ' s importance in the natural gas and electricity markets , industry experts say that any problem at the company could disrupt energy trading nationwide .
the supply of natural gas and electricity would probably not be affected even if the company failed , because enron is mainly a trader , rather than a producer , of energy . but a crisis at the company might increase the volatility of energy prices , which have swung wildly in the last year .
philip k . verleger jr . , an energy - markets economist , emphasized that he thought enron would survive this crisis . but he said it was not clear what would happen if enron ran out of cash or if traders that use the company ' s enrononline internet trading marketplace defaulted on their obligations .
' ' you suddenly have all these positions they have taken on there - - are they good ? are the firm ' s hedges good ? what ' s the situation ? ' ' mr . verleger said . ' ' it ' s got everyone scared . ' '
in the short run , enron ' s credit rating may be its biggest problem . if the company ' s rating falls below investment grade , enron could be forced to issue tens of millions of shares of stock to cover loans that it has guaranteed . but creating new shares would make the shares that already exist less valuable , because those shares would no longer represent full ownership of the company .
a drop in the company ' s credit rating could also prompt other energy traders and producers to back away from doing business with enron , hurting the company ' s sales and profits .
enron ' s credit rating stands several notches above the critical point . but its bonds , which are publicly traded , have fallen so low that they are now offering interest rates of almost 10 percent , comparable with many junk bonds . two of the three major credit - rating agencies , moody ' s investors service and fitch investors service , have put enron ' s bonds on review for possible downgrades .
' ' the issue that ' s in the front of everybody ' s mind right now is credit , ' ' said mark gurley , senior vice president and general manager for trading at aquila inc . , one of the nation ' s largest energy traders . aquila is based in kansas city , mo .
for now , aquila and other major energy traders and producers , including reliant energy , the el paso corporation and dynegy , are continuing to do business with enron . and mr . gurley said that enron ' s own trading in the electricity and natural gas markets did not suggest the sort of frenzied selling reminiscent of the collapse of long - term capital management in 1998 .
' ' they haven ' t done anything trading - wise that gives me any indication they are closing their books down , ' ' he said .
still , some executives at other companies said they were looking more carefully at transactions with enron , especially long - term contracts . they also said risk - management and credit officers were calling each other regularly to discuss the situation .
mark palmer , an enron spokesman , said on friday that no energy - trading company had stopped doing business with enron . he declined to say whether any of the company ' s trading partners had suspended or altered credit terms . he said the company was continuing to see normal volumes of business .
but the crisis that enron will face if its credit rating is downgraded is just a symptom of the bigger problem the company must confront . for years , the details of enron ' s finances have been a mystery even to the wall street analysts whose job it is to follow the company , and to the investors who own its stock and bonds . when enron ' s profits were soaring and it was creating lucrative new markets , shareholders did not seem to care about the impenetrability of its financial statements .
now they do . yet the company seems incapable of offering straight answers to the questions investors ask .
to others in the industry , the opaqueness of the company ' s financial statements parallels enron ' s efforts to keep its energy - trading business lightly regulated and free of disclosure requirements . though they do not expect enron to crumble like long - term capital management , they say that , like the giant hedge fund , enron uses a lot of debt , regulatory oversight is limited and outsiders have a difficult time figuring out its finances .
the most pressing concerns are a series of partnerships and trusts enron created to move some of its assets and debt off its balance sheet . with names like marlin and osprey , the partnerships have at least $ 3 . 3 billion in bonds outstanding , backed by assets like a stake in azurix , enron ' s water company subsidiary . enron has promised that if the partnerships ' debts exceed the value of their assets , enron will issue enough new shares to make up the difference .
deals with partnerships formed by mr . fastow , who was chief financial officer when they were organized , led to the $ 1 . 2 billion write - off in shareholders ' equity that enron announced last week . the company has offered only skimpy details of its transactions with those partnerships .
enron ended its relationships with those partnerships in the last quarter , after being criticized by shareholders . in the process , it wrote off a promissory note that it had carried on its books , reducing its shareholders ' equity by $ 1 . 2 billion . but , because of complex accounting rules , the transaction was not apparent in enron ' s quarterly earnings report .
the transaction disturbs investors because it suggests that enron may have found a way to hide losses , throwing the accuracy of its financial statements into question . when enron released third - quarter earnings on oct . 16 , it reported a loss from $ 1 billion in write - offs on failed investments . the earnings statement did not mention the additional $ 1 . 2 billion equity write - down . but the company said its core business had been solidly profitable , and its shares rose .
in a conference call with analysts after the announcement , mr . lay , enron ' s chairman , also disclosed the reduction in shareholder equity . the reference was a brief one , however , and some listeners did not catch it . those analysts were angered when they found out the next day what enron had done , and many were confused by the accounting procedure . enron ' s stock began to slide , and investors clamored for more information about the write - off . but so far , the company ' s efforts to clear up the situation have further unnerved investors .
mr . lay has met with investors during the last two weeks to try to explain the deals , but some on wall street say they have come away with doubts about mr . lay ' s grasp of the situation . they say that the two people at enron who appear to have been most knowledgeable about the deals - - mr . skilling and mr . fastow - - have both left the company .
in an interview in late august , mr . lay said he did not know some details about the deals involving mr . fastow . in response to one question about them , he said , ' ' you ' re getting way over my head . ' '
mr . palmer of enron disputed any suggestion that mr . lay did not have a grasp of the investments at issue , saying mr . lay was handicapped in talking about them because of the s . e . c . investigation . ' ' there is not a whole lot we can say , or should say , about them , ' ' mr . palmer said . he also said the company expected to generate about $ 3 billion in cash through asset sales by the end of next year .
in a conference call on tuesday , analysts pressed mr . lay and other top enron executives to reveal more information about the ljm write - down and its other partnerships . instead , they offered only vague explanations of the deal , leaving wall street worried that more write - offs might be coming .
david fleischer , a goldman , sachs analyst and a longtime supporter of the company , was among those who came away concerned . ' ' if enron is unable to clarify its off - balance - sheet transactions and restore confidence in the very near term by assuring investors that no more surprises are forthcoming that would affect the balance sheet or liquidity position , then the company will likely lose access to the capital markets , ' ' he wrote in a research note after the call .
to try to reassure investors , enron said late thursday that enrononline , its internet - based trading exchange , executed more than 8 , 400 trades that day , a higher - than - normal volume .
' ' we know we have our work cut out for us if we are to rebuild our credibility with the investment community - - and we ' re working on that , ' ' mr . lay said in a statement . ' ' but in the meantime , the best evidence of our strength is the willingness of customers to bring their business to enron . ' '
but those reassurances apparently are no longer enough for wall street . enron ' s stock tumbled almost 6 percent friday , to its lowest levels in six years .
now analysts are scrambling to figure out the extent of enron ' s off - balance - sheet debt and to assess the risk that the company will have to issue new shares to make good on its partnership guarantees .
carol coale , an analyst at prudential securities in houston , calculates that enron may have close to $ 9 billion in off - balance - sheet debt . she said that enron had for two years been trying to sell about $ 6 billion in foreign assets - - including properties in latin america and a power plant in india embroiled in a dispute with the state government - - and she worries about those prospects for sale in light of enron ' s problems and the souring economy .
' ' as enron is forced to sell assets to keep the ratings agencies off their backs , they may have to write those assets down , ' ' ms . coale said . on wednesday , she downgraded her rating on enron to ' ' sell ' ' from ' ' neutral . ' '
' ' the bottom line is , it ' s really difficult to recommend an investment when management does not disclose the facts , ' ' ms . coale said .
short - sellers , who attacked enron ' s accounting even before the company disclosed the write - off , say the company ' s problems may run even deeper than analysts fear . enron may have used the partnerships not just to finance money - losing investments but to hide losses in its core trading business , they say .
' ' the company still isn ' t disclosing enough to know whether the core business , the trading business , is profitable , ' ' said mark roberts , director of research at off wall street , which recommended shorting enron ' s stock on may 7 , when it stood at $ 59 . 43 . ' ' the issue remains : why are they doing these transactions ? our theory has been that the core operations aren ' t that profitable . ' '
james chanos , a leading short - seller who has bet that enron ' s stock will fall , said , ' ' is enron booking gains when it has real profits , but hiding the losses when deals go against it ? ' ' mr . palmer of enron said the company stood by its reported energy - trading profits .
even traders at other energy companies say they do not have a clear picture of enron ' s positions . enron maintains that it is in no danger of being wiped out by a sharp move in electricity or gas prices because it keeps its trading book balanced - - meaning the energy it has agreed to sell is offset , in roughly equivalent amounts , by energy it has agreed to buy .
' ' with these guys , they tell us - - and all you ' ve got is their word - - that they ' re hedged , ' ' said mr . verleger , the economist .
in fact , enron has lobbied forcefully over the years to limit regulation and disclosure of its trading operations . last year , the company successfully lobbied congress to effectively ensure that its internet - trading platform would be exempted from regulation by the commodity futures trading commission .
enron and other power traders do file limited information in reports to the federal energy regulatory commission , the agency that oversees wholesale electricity and natural gas markets . but the commission does not keep track of specific transactions and prices .
large - scale energy trading has existed for only about a half - dozen years . enron pioneered the business , and now dominates it , accounting for about one - quarter of all trading in the united states .
before congress and federal regulators opened up the market for wholesale electricity , a process that began in earnest a decade ago , the power business was a simpler affair . utilities were given areas of monopoly service , and their rates - - and ability to deliver enough electricity - - were overseen by state regulators . but with the move to deregulate the business , independent and unregulated generators and traders have flourished , providing an ever - growing portion of the nation ' s power .
beginning in the 1980 ' s , the sale and transportation of natural gas was also deregulated , spurring enron , which used to be primarily a gas - pipeline company , to move into the trading business .
the company ' s shift to trading gas and electricity accelerated in the mid - 1990 ' s , with the ascension of mr . skilling , who became chief executive in february , just six months before his unexpected resignation . underscoring the change in direction , in securities filings this year enron described its principal business as ' ' security brokers , dealers and flotation . ' ' before , it had said it was in the business of ' ' wholesale - petroleum and petroleum products . ' '
for most of its ascent , enron reported outstanding profit figures and wall street accepted them with pleasure . a year ago , when it disclosed the first transactions with partnerships led by mr . fastow , the company ' s former chief financial officer , analysts who asked questions were told that the deals were routine and were being disclosed only because of mr . fastow ' s involvement .
enron does not appear to face an immediate cash crunch . but the bank credit lines that it drew on last week to pay off its short - term debt will have to be renegotiated next spring . the controversial partnerships do not have to pay their debts until the following year - - unless enron loses its investment - grade credit rating before that .
enron will also need to maintain its large trading positions , which could suffer if participants in those markets grow more nervous about enron ' s credit . when long - term capital was stumbling in 1998 , some wall street rivals sold the securities they thought long - term owned , trying to force long - term to sell its positions quickly and at a loss . something similar in energy markets might be possible . if so , enron might find , as long - term did , that positions that should offset each other do not .
enron ' s new chief financial officer may yet persuade investors that in fact the company ' s profits are real , and that its condition is better than the short - sellers believe . as questions are answered , confidence , and the share price , could rebound .
but for now , investors are skittish , and some competitors are eager to take advantage of enron ' s plight .
photos : enron , which is building a new headquarters in houston , grew with deregulation . but with deregulation in doubt , enron stock has dropped . ( phillippe diederich for the new york times ) ; enron owns 65 percent of the power plant in dabhol , india , but has had trouble collecting payments . ( the new york times ) ( pg . 13 ) ; ' we know we have our work cut out for us , ' says kenneth l . lay , enron ' s chief . ( wgbh / ' ' frontline ' ' ) ( pg . 1 ) chart : ' ' enron ' s board ' ' directors have not addressed the company ' s current difficulties , a spokesman said . kenneth l . lay : 58 chairman john h . duncan : 73 former chairman of the executive committee , gulf and western industries robert a . belfer : 65 chairman , belco oil & gas charles a . lemaistre : 77 president emeritus , m . d . anderson cancer center , university of texas robert k . jaedicke : 72 professor emeritus , graduate school of business , stanford ronnie c . chan : 51 chairman , hang lung group wendy l . gramm : 56 director , mercatus center , george mason university john mendelsohn : 64 president , m . d . anderson cancer center , university of texas paulo v . ferraz pereira : 46 executive vice president , group bozano john wakeham : 68 former british secretary of state for energy norman p . blake jr . : 59 chief executive , comdisco ken l . harrison : 58 former chief executive , portland general electric ( former enron employee ) jerome j . meyer : 63 chairman , tektronix frank savage : 62 chairman , alliance capital management international john a . urquhart : 72 adviser to the chairman , enron herbert s . winokur jr . : 57 president of winokur holdings ( former enron employee ) ( pg . 13 )
copyright ? 2000 dow jones section 3
plumbing mystery of deals by enron
by floyd norris
10 / 28 / 2001
the new york times
page 13 , column 6
c . 2001 new york times company
at the heart of the sudden collapse in investor confidence in the enron corporation are unusual trades it entered into with partnerships led by its chief financial officer , andrew s . fastow , beginning in the summer of 1999 . because they were transactions among related parties , the company was required to disclose them , but the disclosures raised as many questions as they answered . following are some questions that investors are asking , and the currently available answers .
q . why did enron enter into the deals ?
a . enron ' s first disclosures , in 1999 , gave no reason . in later reports , it said it was seeking to ' ' hedge certain merchant investments and other assets , ' ' by which it apparently meant investments in technology and telecommunications companies .
q . how did those investments do ?
a . it looks as if they plunged in value , although there is no clear disclosure on that .
q . why can ' t that be discerned ?
a . the company never said just what the investments were . and the transactions with the partnerships were complicated , involving a variety of derivative securities , enron stock and various promissory notes . enron ' s financial disclosures do not provide enough information to understand the arrangements completely .
q . why were they so complicated ?
a . one reason may have been to use accounting rules to its advantage . one accounting rule dictates that companies may not record profits or losses on transactions in their own stock . if a company sells its shares at $ 10 each and then buys them back - - whether for $ 1 or $ 50 - - there is no gain or loss . but shareholder equity does go up or down on the balance sheet - - in that case reflecting how much extra cash the company took in , or paid out , on the transactions . enron ' s transactions appear to have been structured to fall under that rule .
q . who made money from these transactions ?
a . enron reported some profits along the way from the deals , although not all of the profits were spelled out in its quarterly filings . and it appears that the partnerships distributed money to investors .
q . if the deals began in 1999 , why all the uproar now ?
a . many investors and analysts were not curious about them when everything seemed to be going well . as long as enron was exceeding its forecasted profits each quarter , they were willing to assume that what was not being disclosed was not really important .
q . when were concerns raised with enron ?
a . the complaints grew as enron ' s share price fell earlier this year . by this summer , enron decided that mr . fastow would sell his stake in the partnerships . then , because the partnerships would no longer be considered related to enron , the company would no longer have to disclose anything about the transactions . but investors were still worried , and enron later closed out its deals with the partnerships .
q . how did enron do ?
a . badly . it took a $ 35 million loss , which , given the size of the transactions involved and the previous profits taken , was not very much . but it also reduced shareholder equity by $ 1 . 2 billion .
q . how did that happen ?
a . that , like so much else , is not clear . but it looks as if the partnership owed enron that much money , could not pay and was let off the hook by enron . in return , enron terminated ' ' previously recorded contractual obligations to deliver enron shares in future periods . ' ' enron treated that like a share buyback , even though the shares in question had not been issued , and determined that there was no need to treat it as a loss that would reduce reported earnings .
q . is that legal under the accounting rules ?
a . presumably it is . but enron ' s limited disclosures make it impossible to say for sure . enron may have discovered ways to use the accounting rules to enable it to keep losses off income statements , while leaving profits on them . that may become clearer when the securities and exchange commission , which has begun preliminary inquiries , completes its work . floyd norris
copyright ? 2000 dow jones section 3
databank
investors seem to ignore discouraging news
by michael brick
10 / 28 / 2001
the new york times
page 17 , column 3
c . 2001 new york times company
investors sent stocks markedly higher last week , despite reports on the economy and corporate profits that were resoundingly poor .
the dow jones industrial average , strengthened by triple - digit rallies on monday and thursday , ended the week nearly back to its level of sept . 10 , one day before the attacks on the world trade center and the pentagon . broader indicators ended slightly higher than they were on sept . 10 .
investors overcame their initial discouragement about reports that orders for durable goods and sales of existing homes were deteriorating faster than expected . they also seemed unfazed by reports of corporate profits declining from a year ago , at some companies by more than 30 percent .
all the bad news , investors seemed to surmise , meant that the government was more likely to act aggressively in stimulating the economy , with tax breaks , spending and lower interest rates .
the dow average gained 341 . 06 , or 3 . 7 percent , to close at 9 , 545 . 17 . the nasdaq composite index rose 97 . 65 points , or 5 . 8 percent , to 1 , 768 . 96 . the standard & poor ' s 500 - stock index rose 31 . 13 , or 2 . 9 percent , to 1 , 104 . 61 .
michael brick
charts : ' ' stocks in the news ' ' enron nyse : ene the energy trading company ousted its chief financial officer , andrew s . fastow , whose involvement in complicated transactions with enron caught the attention of the s . e . c . friday ' s close : $ 15 . 40 week ' s change : - 40 . 88 % est . ' 01 p / e : 8 . 52 sbc communications nyse : sbc the company posted a 30 percent decline in earnings and said it would cut thousands of jobs because of the weak economy and strong competition . friday ' s close : $ 39 . 20 week ' s change : - 10 . 17 % est . ' 01 p / e : 16 . 82 walt disney nyse : dis after trimming $ 100 million from the price , disney completed its purchase of the fox family worldwide cable television operation . the deal included $ 2 . 9 billion in cash and $ 2 . 3 billion in assumed debt . friday ' s close : $ 18 . 71 week ' s change : + 1 . 19 % est . ' 01 p / e : 25 . 28 microsoft nnm : msft microsoft introduced its computer operating system , windows xp , the latest version of its flagship product . friday ' s close : $ 62 . 20 week ' s change : + 7 . 43 % est . ' 01 p / e : 33 . 88 vysis nnm : vysi the drug maker abbott laboratories has agreed to acquire vysis , a laboratory products maker , in a stock deal worth about $ 355 million . friday ' s close : $ 30 . 25 week ' s change : + 47 . 13 % est . ' 01 p / e : - - worldcom nnm : wcom the long - distance telephone company posted a 44 percent drop in its third - quarter profit and warned that sales growth in its core data and internet business would slow in the final quarter and in 2002 . friday ' s close : $ 13 . 38 week ' s change : + 1 . 59 % est . ' 01 p / e : 12 . 15 affymetrix nnm : affx affymetrix settled a patent lawsuit over dna analysis technologies with a rival , hyseq , and the companies plan to form a joint venture . friday ' s close : $ 31 . 70 week ' s change : + 72 . 66 % est . ' 01 p / e : - - overture services nnm : over the internet search service , formerly called goto . com , reported a profit in the third quarter and higher sales , as its pay - per - listing service remained popular with advertisers . friday ' s close : $ 25 . 50 week ' s change : + 32 . 88 % est . ' 01 p / e : - - ( source : bloomberg financial markets )
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron asks banks for more credit after stock slide , ft reports
2001 - 10 - 28 20 : 20 ( new york )
houston , oct . 28 ( bloomberg ) - - enron corp . , the largest
energy trader , asked banks to provide further credit after tapping
a $ 3 . 3 billion credit line last week to bolster investor
confidence , the financial times reported , citing company sources .
enron ' s stock has fallen more than 50 percent since oct . 17
when an investor sued the company for conflict of interest over
transactions with affiliates run by enron ' s former chief financial
officer andrew fastow .
the company has been shut out of the leading market for low -
interest , short - term loans since announcing oct . 16 it would take
a $ 1 . 01 billion special charge and write down shareholders ' equity
by another $ 1 . 2 billion , the ft said .
enron spokesman mark palmer said he hoped the company would
announce the new financing facility in coming days , the newspaper
said .
enron asks banks for additional credit - ft
10 / 28 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - ( dow jones ) - enron corp . ( ene ) is attempting to persuade banks to provide additional credit , the financial times reported on its web site sunday .
the company was also due to hold a special board meeting sunday to consider confidence - building measures after surprise financial disclosures damaged its reputation among u . s . investors , the financial times reported .
the financial times quoted enron spokesman mark palmer as saying he hoped the company could have something to announce in coming days as a result of its latest effort to " establish additional lines of liquidity . "
" once we are able to the liquidity position shored up , that will put a lot of fears of the unknown to rest , " the financial times quoted palmer as saying .
copyright ? 2000 dow jones financial desk
week in review top stories oct . 22 - 26 lockheed edges out boeing for contract
abigail goldman ; joseph menn ; jesus sanchez ; jeff leeds ; chuck philips ; meg james ; nancy rivera brooks ; evelyn iritani ; james f . peltz ; myron levin ; peter pae
10 / 28 / 2001
los angeles times
home edition
c - 2
copyright 2001 / the times mirror company
the vote is in . lockheed martin corp . won the coveted right to build the nation ' s next - generation fighter aircraft , beating out boeing co . for what could be the biggest military contract ever .
culminating a five - year battle between two of the world ' s largest defense contractors , pentagon officials picked lockheed martin to begin development of the joint strike fighter , with plans to purchase 3 , 000 of the planes at a cost of more than $ 200 billion .
with the potential for foreign sales topping another $ 200 billion , the contract is considered the most lucrative in u . s . history . " this really is the contract of the millennium , " said christopher hellman , analyst with the center for defense information . " nothing has or will come close . "
peter pae
ford settles lawsuit over faulty part
in the largest automotive class - action settlement in history , ford motor co . will reimburse customers who paid hundreds of millions of dollars to replace a faulty part that caused their vehicles to stall .
it was uncertain how many consumers would qualify for reimbursements in the range of $ 160 apiece .
the settlement caps six years of litigation . plaintiffs ' lawyers said the cost to ford would be as high as $ 2 . 7 billion .
myron levin
amr posts record loss in quarter
even though more americans are flying again , the airline industry continues to reel and its problems are expected to worsen this holiday season .
amr corp . , the parent of american airlines , the world ' s largest airline , posted a record loss for the third quarter , even after getting $ 508 million in federal financial aid .
although the number of passengers has kept growing each week since the sept . 11 attacks , about 20 % fewer people are flying .
less than a month before the busy thanksgiving weekend , american airlines says advance bookings for november are down 6 % from a year earlier .
meanwhile , the airlines are now reporting a little - noticed aspect of the government rescue package : they have to pay federal taxes on the cash grants .
james f . peltz
itc says imports hurt steel industry
the international trade commission ruled that foreign imports pose a serious threat to the domestic steel industry , paving the way for punitive sanctions that are likely to raise steel prices and intensify trade tensions with europe and asia .
the independent u . s . agency has until mid - december to provide the white house with a list of proposed remedies , which could include import quotas or hefty tariffs on foreign steel .
beleaguered u . s . steelmakers applauded the decision .
president bush , who instigated the itc investigation , is expected to approve the protective measures , though critics warn they could harm a weakened domestic economy and complicate efforts to launch a new round of global trade talks .
evelyn iritani
shares of enron plummet amid losses
enron corp . ' s stock was pummeled by investors following disclosures of losses and shrinking shareholders ' equity related to failed investments and a complicated hierarchy of limited partnerships used to shelter some enron assets .
the stock slide was compounded by disclosure of a securities and exchange commission inquiry into two of the partnership arrangements and by wall street worries about future cash flow and credit problems that might be caused by the investment vehicles .
two conference calls with analysts and investors failed to calm nerves , and several analysts lowered their recommendations on enron .
enron has reiterated that its finances are strong . and although analysts note that enron ' s core businesses remain sound , some analysts doubt that the usually taciturn company has revealed all of its problems .
to mollify investors , enron replaced its chief financial officer , who until recently headed the two partnerships the sec is eyeing .
nancy rivera brooks
pentagon oks northrop bid for newport news
northrop grumman corp . was all but assured of winning the bid to acquire newport news shipbuilding inc . as the pentagon endorsed the deal and the justice department , citing antitrust concerns , blocked a rival bid by general dynamics corp .
it marked a stunning turn of events for northrop , which got the nod to acquire the virginia builder of nuclear submarines and aircraft carriers despite having been the underdog .
the los angeles - based defense contractor made an unsolicited offer for newport news after the shipbuilder had inked a $ 2 . 1 - billion deal with general dynamics .
separately , northrop said third - quarter earnings fell 22 % because of a large drop in pension fund investments .
peter pae
hollywood production jobs fall to 4 - year low
skittishness following the sept . 11 terrorist attacks has exacerbated an already slow season in hollywood , pushing employment in the movie , television and film industry to a four - year low in september , state statistics show .
cutbacks and delayed projects by the major studios has trickled down through the industry , leading to a spate of layoffs at small companies that provide equipment and services for the industry .
meg james
grammy officials urge greene settlement
high - ranking officials at the grammy organization recommended a settlement of more than half a million dollars to resolve sexual assault and battery allegations against the nonprofit group ' s chief executive , c . michael greene , grammy sources said .
the proposed settlement , subject to approval by the group ' s board of directors , has ignited an internal revolt , with at least a dozen of the 41 trustees privately calling for greene ' s firing , the sources said .
greene declined to comment . attorneys for the grammy nonprofit group previously denied that greene assaulted or had any sexual contact with jill geimer , the grammy executive who has threatened to sue over greene ' s alleged misconduct .
chuck philips
emi ousts record label executive nancy berry
british music conglomerate emi group sacked nancy berry , the vice chairwoman of its worldwide virgin records division .
berry ' s exit came a week after the london - based record company ousted its global record chief , ken berry , who is nancy berry ' s former husband .
the shake - up follows a dispiriting period for emi , including a disastrous sales debut from pop icon mariah carey , who suffered a nervous breakdown months after signing an $ 80 - million contract with the company this year . nancy berry spearheaded the elaborate marketing campaign for carey ' s album , " glitter , " which has sold fewer than 400 , 000 copies since its sept . 11 debut .
jeff leeds
management buyout of g & l realty approved
stockholders of g & l realty corp . approved a management - led buyout of the real estate investment trust despite a higher offer by a rival group and concerns that the deal unfairly favors top executives .
the company ' s co - chairmen , daniel gottlieb and steven lebowitz , plan to take the small beverly hills - based company private after a majority of shareholders backed their $ 12 - a - share offer .
the management - led offer triggered a shareholder lawsuit this year that claimed g & l ' s board breached its fiduciary duty
jesus sanchez
internet archive turns back web pages of time
the nonprofit internet archive launched its so - called wayback machine , allowing web surfers to check out most internet sites that have vanished and older versions of sites that are still around .
the san francisco effort is the brainchild of brewster kahle , a millionaire technologist who wants to preserve the internet ' s ephemera for generations to come .
like many internet pioneers , however , kahle faces unfamiliar risks along with the opportunities : the archive might be the most massive violation of copyright law since ownership rights over words came into being .
more than 10 billion pages are available at http : / / web . archive . org .
joseph menn
job cuts , make - over in store for sears
sears , roebuck ; photographer : associated press ; photo : sears is cutting nearly 5 , 000 jobs and launching a new strategy . ; ; photographer : associated press ; photo : the reeling airline industry is expecting its problems to worsen . ; ; photographer : agence france - presse ; graphic : dimming power , los angeles times ;
copyright ? 2000 dow jones & company , inc . all rights reserved .
business
ralph bivins
devon energy makes building its own with major lease
ralph bivin
staff
10 / 28 / 2001
houston chronicle
2 star
10
( copyright 2001 )
houston is known as the " energy capital of the world . " and a glance around the downtown skyline proves the nickname is appropriate . houston skyscrapers bearing the names of enron , chevron , exxon and shell make significant contributions to the view .
now another name is being added to the downtown mix , enhancing the energy capital image even further . the 36 - story two allen center has been renamed devon energy tower .
devon energy has just signed a lease for 193 , 000 square feet of space , more than doubling its presence in the building , and as part of the deal , devon gets to put its name on the structure .
the lease also gives oklahoma city - based devon the right to take more space in the 1 million - square - foot building , at 1212 smith st .
devon recently announced its plans to acquire mitchell energy & development , but it will maintain mitchell ' s offices in the woodlands , said klay kimker , manager of office administration for devon .
kevin snodgrass and tim relyea of cushman & wakefield represented devon in the transaction . paul frazier and margaret sigur negotiated the deal on behalf of trizechahn office properties , the owner of the building .
trizechahn owns both the allen center and cullen center office complexes , a total of 6 million square feet of space in downtown . the trizechahn office space is nearly full right now , but enron will be vacating large amounts of space there next year when the nearby enron building is complete .
teamsters to build facilities
teamsters union officials are planning to build new headquarters facilities after the union sells its building on the katy freeway .
to replace the katy freeway building , the union expects to build two smaller structures near bush intercontinental airport to house different chapters , said a . w . parker , secretary treasurer of local 968 .
parker ' s group is expecting to build a 13 , 000 - square - foot building at ella boulevard at beltway 8 .
another teamsters group has purchased 4 . 5 acres on beltway 8 at diplomatic plaza drive , in the world houston business center . the land was purchased from the licha family trust . tony patronella and marc drumwright , both of southwest realty advisors , handled the sale .
chicago firm buying property
a chicago real estate investment firm is on a quest to acquire suburban office buildings in houston .
ml capital ventures has purchased two small office structures : the 71 , 736 - square - foot building at 5500 northwest central drive and the 66 , 338 - square - foot building at 5301 hollister . the building on northwest central drive is the headquarters of bj services energy company .
mike luecht , president of ml capital , said his firm will acquire two additional houston office buildings before the end of the year .
ml capital , which has been in business for eight months , will exceed luecht ' s initial plan to buy more than $ 22 million worth of suburban office space in houston in the company ' s start - up phase .
luecht said his firm was bullish on two types of real estate : buying warehouses in chicago and buying office buildings in suburban houston . houston ' s economy has been adding jobs and it is a promising market that is overlooked by many investors , luecht said . many investors have been too slow to forget the devastating meltdown of houston realty market in the 1980 s , luecht said .
in its most recent deal , ml ventures bought the 5500 northwest central building in partnership with avgeris & associates of chicago . tom bousquet of cb richard ellis brokered the deal .
woodlands opens new section
several $ 1 million home sites go up for sale this weekend as the woodlands opens a new section of its carlton woods gated community .
the premium lots will be facing the new jack nicklaus signature golf course .
custom lots will range in price from $ 150 , 000 to $ 1 million and range in size from one - fifth of an acre to two - and - three - fourths acres .
the carlton woods community is the first gated community in the woodlands and has been well received by upper - end home buyers , said paul lazzaro , vice president of marketing for the woodlands .
thirty - two homes are under construction in carlton woods and all of them are priced at more than $ 1 million .
a total of 208 lots have been sold in carlton woods , which opened about a year ago .
copyright ? 2000 dow jones & company , inc . all rights reserved .
india press : enron plans to exit lng shipping jv
10 / 28 / 2001
dow jones international news
( copyright ( c ) 2001 , dow jones dow jones newswires ; 91 - 11 - 461 - 9426 ; himendra . kumar @ dowjones . com
copyright ? 2000 dow jones section c
enron taps all its credit lines to buy back $ 3 . 3 billion of debt
by floyd norris
10 / 27 / 2001
the new york times
page 2 , column 5
c . 2001 new york times company
the enron corporation , trying to reassure investors that it has ample liquidity , began to repurchase all its outstanding commercial paper yesterday , using $ 3 . 3 billion it borrowed from banks by depleting its lines of credit .
an enron spokesman said that when the commercial paper repurchases are completed the company will retain more than $ 1 billion in cash .
the moves did not appear to reassure investors , as enron ' s share price fell to another six - year low . shares traded as low as $ 15 . 04 yesterday , before ending the day at $ 15 . 40 , down 95 cents .
the move will raise the interest expense for the company , because banks normally charge more than companies have to pay in the commercial paper market , and because its outstanding debt will rise by the additional $ 1 billion .
enron ' s debt is rated investment grade . but its bonds now trade below investment grade levels , although not so low that it appears investors fear an early default . but with the bonds trading so low , it is unlikely enron will be able to sell more commercial paper .
enron ' s stock has been plunging since oct . 17 , shortly after it disclosed that its third - quarter balance sheet , which has yet to be released , will show a $ 1 . 2 billion reduction in shareholder equity as a result of complicated transactions involving partnerships formerly controlled by andrew fastow , who was the company ' s chief financial officer until he was replaced on wednesday .
the stock has lost more than half its value since the earnings announcement , and the company has disclosed that the securities and exchange commission has asked questions about its accounting practices .
copyright ? 2000 dow jones & company , inc . all rights reserved .
companies & finance international - enron ' s bond prices drop to warning levels .
by robert clow , sheila mcnulty and jenny wiggins .
10 / 27 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron , the houston - based energy trading group , continued to pay a heavy price for its lack of financial transparency yesterday as its bond prices plummeted .
investor confidence in enron has declined sharply since the company announced a $ 1 . 2 bn reduction of shareholder equity stemming from a complex off - balance sheet structure . the securities and exchange commission has also launched an informal investigation into the company ' s finances .
enron ' s five - year bonds were trading yesterday at 77 cents in the dollar with a yield of 11 . 13 per cent , down from 83 cents on thursday . bond prices at these levels normally suggest that investors expect a company to file for bankruptcy .
late on thursday , enron announced that it would draw on its bank lines to buy back its outstanding commercial paper after two ratings agencies put the company on negative watch .
commercial paper financing , which normally has to be rolled every 90 days , is one of the first forms of financing to disappear in a crisis .
" what they want to do is assure their clients and other trading partners that they are creditworthy and continue with business , " said robin west , chairman of the petroleum finance company , the industry consultants . " in a situation like this , cash is king . "
enron ' s biggest immediate business risk is that its major trading counterparties , such as duke energy and reliant resources , start asking it for more collateral , increasing the cost of its everyday business .
if enron were downgraded to junk , the counterparties could do just that .
so far , credit rating analysts say , enron ' s core business is holding up well . but their actions over the past few days acknowledge that the company could still be severely damaged by the scandal .
enron has long faced criticism of its opaque financial reporting , but its most recent problems stem from the ljm private equity fund run by andy fastow , the company ' s former chief financial officer .
enron compensated its partners in this complex off - balance sheet structure by promising to give them enron shares , if the value of private equity investments in the new power company , technology and other things fell below a certain level .
those investments fell $ 1 . 2 bn in value from the threshold level , which should have triggered the issue of 62 m shares if the deal had not been reversed .
the complex deal was designed to make sure enron did not experience the same balance sheet volatility that jp morgan chase and others have suffered from marking their private equity investments to market .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
shorts - enron bond prices under pressure .
10 / 27 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron , the houston - based energy trading giant , continued to pay the price for financial opacity as its stock slumped to its lowest level since 1995 and its five - year bonds traded at 77 cents in the dollar with a yield of 11 . 13 per cent , down from 83 cents on thursday . bond prices at these levels normally suggest that investors expect a company to file for bankruptcy . page 10 .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones stock slides
10 / 27 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
houston ( ap ) - after enron corp . tapped into more than $ 3 billion in credit in an effort to boost confidence of investors and customers , stock prices dropped .
enron corp . ' s stock price hit its lowest point in more than five years friday . shares fell 95 cents on friday to $ 15 . 40 , a level not seen since 1995 , as analysts continued to muddle through a complicated series of bookkeeping issues revealed after the company ' s earnings announcement earlier this month .
the stock is down more than 50 percent in two weeks , and the company lost almost $ 14 billion in market value .
late this week the company decided to convert $ 3 billion in revolving credit it has through various banks into cash . the company put about $ 1 . 1 billion in the bank in an effort to reassure business partners and investors of its liquidity and is using the $ 2 . 2 billion balance to begin an orderly repurchase of a certain kind of short - term corporate iou known as commercial paper .
" nothing spells confidence quite like cash , which is what we want investors to understand , " said enron spokesman mark palmer of the $ 1 . 1 billion banked this week .
palmer could neither confirm nor deny that the company is negotiating further lines of credit with banks but described such actions as " good management decisions . "
on oct . 16 enron ' s third - quarter earnings release drew renewed attention to an issue investors and analysts had previously been unhappy about : then - chief financial officer andrew fastow , with the enron board ' s approval , had formed and run two investment partnerships that could have created a conflict of interest .
the partnerships , ljm cayman and ljm 2 co - investment , did complex financing and hedging deals with enron .
fastow had resigned from his roles in the partnerships months ago when wall street began to question whether he could watch out for the interests of enron ' s shareholders and the investment partnership simultaneously . but last week when the company reported a $ 35 million loss related to ending its ljm ties as well as a $ 1 . 2 billion reduction in shareholder equity , new questions began to arise .
the securities and exchange commission ' s division of enforcement launched an informal inquiry into the partnerships , and earlier this week fastow was put on a leave of absence .
reducing the company ' s debt exposure through commercial paper and putting it back into more traditional financial tools , like a revolving line of credit , could give great peace of mind to enron ' s investors , said anatol feygin , an analyst with j . p . morgan .
" it helps them shore up their support behind their energy trading business , which is really the core of their operations , " feygin told the houston chronicle for saturday ' s editions .
carol coale , an analyst with prudential securities , still sees the move as somewhat confusing .
" just last week they were touting their unused lines of credit as a plus , but the fact that they tapped those now sends a strange , mixed message , " she said . " do they need the cash to keep the rating agencies off their back ? is it a gesture for customers ? it first struck me as another one of these strangely timed actions on the part of management . "
copyright ? 2000 dow jones financial desk
enron decline continues
bloomberg news
10 / 27 / 2001
los angeles times
home edition
c - 2
copyright 2001 / the times mirror company
houston - - enron corp . bonds and shares fell after the largest energy trader tapped a $ 3 - billion credit line because it has been shut out of the leading market for low - interest , short - term loans .
the company ' s stock has fallen 54 % in the last 14 days after investors questioned its transactions with affiliates run by enron ' s former chief financial officer . the shares fell 95 cents , or 5 . 8 % , to $ 15 . 40 on the new york stock exchange .
investors said chief executive kenneth lay has failed to reassure them that the company ' s credit rating won ' t be cut . enron can no longer borrow in commercial paper markets , where short - term loans carry lower rates than banks offer .
" do they have the financial flexibility they once had ? no , " said john cassady , who helps manage $ 3 billion in bonds at fifth third bancorp . " people are questioning the credibility of management . "
the company will use its credit line to pay off $ 2 . 2 billion in commercial paper it has outstanding , enron spokesman mark palmer said .
the price of enron ' s 6 . 75 % bonds , which mature in 2009 , declined 11 / 2 points to a bid of 84 cents on the dollar and an offer of 86 cents . at that price , the bonds , which carry a rating of bbb + , yield 9 . 53 % .
investors have grown concerned that the firm ' s credit rating will be cut after $ 1 . 01 billion in third - quarter losses from failed investments . enron needs good credit to raise cash daily to keep trading partners from demanding collateral and to settle transactions .
enron ' s decision to tap its credit line was " a smart financial move , " said stephen moore of moody ' s investors service . " it took away the hassle and time - consuming nature of rolling commercial paper and insured access to capital . "
copyright ? 2000 dow jones stock slides / company says cash will boost confidence
tom fowler
staff
10 / 27 / 2001
houston chronicle
3 star
1
( copyright 2001 )
enron corp . ' s stock price hit its lowest point in more than five years friday after it tapped into more than $ 3 billion in revolving credit in an effort to re - assure investors and customers .
shares fell 95 cents on friday to $ 15 . 40 , a level not seen since 1995 , as analysts continued to muddle through a complicated series of bookkeeping issues revealed after the company ' s earnings announcement earlier this month . the stock is down more than 50 percent in two weeks , and the company lost almost $ 14 billion in market value .
late this week the company decided to convert $ 3 billion in revolving credit it has through various banks into cash . the company put about $ 1 . 1 billion in the bank in an effort to reassure business partners and investors of its liquidity and is using the $ 2 . 2 billion balance to begin an orderly repurchase of a certain kind of short - term corporate iou known as commercial paper .
" nothing spells confidence quite like cash , which is what we want investors to understand , " said enron spokesman mark palmer of the $ 1 . 1 billion banked this week .
palmer could neither confirm nor deny that the company is negotiating further lines of credit with banks but described such actions as " good management decisions . "
enron ' s most recent woes began oct . 16 when its third - quarter earnings release drew renewed attention to an issue investors and analysts had previously been unhappy about : then - chief financial officer andrew fastow , with the enron board ' s approval , had formed and run two investment partnerships that could have created a conflict of interest .
the partnerships , ljm cayman and ljm 2 co - investment , did complex financing and hedging deals with enron and were formed originally as a way to offset risks associated with some of the company ' s newer businesses such as broadband trading .
fastow had resigned from his roles in the partnerships months ago when wall street began to question whether he could watch out for the interests of enron ' s shareholders and the investment partnership simultaneously . but last week when the company reported a $ 35 million loss related to ending its ljm ties as well as a $ 1 . 2 billion reduction in shareholder equity , new questions began to arise .
the securities and exchange commission ' s division of enforcement launched an informal inquiry into the partnerships , and earlier this week fastow was put on a leave of absence .
now enron will begin repurchasing its commercial paper . this is a way for companies to raise money over a short period at rates that are usually slightly better than what banks offer , and often with more flexible terms .
" to some extent , redeeming the commercial paper is at the expense of the capital markets , which look at it negatively , " said anatol feygin , an analyst with j . p . morgan .
but reducing the company ' s debt exposure through commercial paper and putting it back into more traditional financial tools , like a revolving line of credit , could give great peace of mind to enron ' s investors , he said .
" it helps them shore up their support behind their energy trading business , which is really the core of their operations , " feygin said .
carol coale , an analyst with prudential securities , still sees the move as somewhat confusing .
" just last week they were touting their unused lines of credit as a plus , but the fact that they tapped those now sends a strange , mixed message , " she said . " do they need the cash to keep the rating agencies off their back ? is it a gesture for customers ? it first struck me as another one of these strangely timed actions on the part of management . "
jeff dietert , an analyst at simmons & co . , said enron management needs to continue to make clear the issues that have investors confused and concerned .
in a worst - case scenario , investor fears could create a vicious cycle that continues to drive the stock down , which would force bond rating agencies to consider downgrades of enron . that could lead to lower credit ratings , which would force enron ' s energy trading partners to limit their exposure to the company and cut back on business with it .
" thus , we see a big incentive for enron to clarify the issues , " dietert wrote in a report friday . " our gut feel is that enron can pull it off . "
feygin said he also believes the company will continue to do better in revealing its financial dealings but thinks there may be more surprises in store .
for example , a wall street journal article friday discussed for the first time another business entity with ties to enron known as chewco . it was formed in 1997 with about $ 400 million in financial backing to buy interests in unnamed enron assets .
chewco was run by michael kopper , a managing director of enron ' s global equity markets group .
copyright ? 2000 dow jones & company , inc . all rights reserved .
business
enron says microsoft breached contract
staff
10 / 27 / 2001
houston chronicle
3 star
2
( copyright 2001 )
enron corp . filed suit against microsoft corp . in state district court in houston this week , claiming the software giant breached a contract over a new high - speed internet service .
the companies entered into an agreement last june in which enron would provide internet bandwidth to microsoft as it rolled out its msn broadband service . enron ' s broadband network would link msn customers in over two dozen states , including texas .
qwest communications is providing the internet infrastructure in 14 other states for msn .
on oct . 23 , microsoft said that enron would have breached the contract if it didn ' t provide an operational bandwidth system by oct . 25 , according to bloomberg news . in the lawsuit , enron claims microsoft failed to deliver the ordering and billing system it needed to deliver its end of the project ' s first phase .
the lawsuit appears to be blocking the launch of the msn service in all but the 14 states served by qwest .
enron officials declined to comment . a microsoft spokesman said the company had not reviewed the filing but was " confident that we have upheld our agreement with enron . "
copyright ? 2000 dow jones section a
journal
how to lose a war
by frank rich
10 / 27 / 2001
the new york times
page 19 , column 2
c . 2001 new york times company
welcome back to sept . 10 .
the ' ' america strikes back ' ' optimism that surged after sept . 11 has now been stricken by the multitude of ways we ' re losing the war at home . the f . b . i . has proved more effective in waging turf battles against rudy giuliani than waging war on terrorism . of the more than 900 suspects arrested , exactly zero have been criminally charged in the world trade center attack ( though one has died of natural causes , we ' re told , in a new jersey jail cell ) . the bush team didn ' t fully recognize that a second attack on america had begun until more than a week after the first casualty . the most highly trumpeted breakthrough in the hunt for anthrax terrorists - - tom ridge ' s announcement that ' ' the site where the letters were mailed ' ' had been found in new jersey - - proved a dead end . and now the president is posing with elementary - school children again .
given that this is the administration that was touted as being run with c . e . o . clockwork , perhaps it should be added to the growing list of things that have changed forever since sept . 11 . but let ' s not be so hasty . not everything changes that fast - - least of all washington . the white house ' s home - front failures are not sudden , unpredictable products of wartime confusion but direct products of an ethos that has been in place since jan . 20 .
this is an administration that will let its special interests - - particularly its high - rolling campaign contributors and its noisiest theocrats of the right - - have veto power over public safety , public health and economic prudence in war , it turns out , no less than in peacetime . when anthrax struck , the administration ' s first impulse was not to secure as much cipro as speedily as possible to protect americans , but to protect the right of pharmaceutical companies to profiteer . the white house ' s faith in tax cuts as a panacea for all national ills has led to such absurdities as this week ' s house ' ' stimulus ' ' package showering $ 254 million on enron , the reeling houston energy company ( now under s . e . c . investigation ) that has served as a bush campaign cash machine .
airport security , which has been enhanced by at best cosmetic tweaks since sept . 11 , is also held hostage by campaign cash : as salon has reported , servicemaster , a supplier of the low - wage employees who ineptly man the gates , is another g . o . p . donor . not that republicans stand alone in putting fat cats first . in a display of bipartisanship , democrats - - lobbied by linda hall daschle , the senate majority leader ' s wife - - joined the administration in handing the airlines a $ 15 billion bailout that enforces no reduction in the salaries of the industry ' s c . e . o . ' s even as they lay off tens of thousands of their employees .
to see how the religious right has exerted its own distortions on homeland security , you also have to consider an administration pattern that goes back to its creation - - and one that explains the recent trials of poor tom ridge .
mr . ridge is by all accounts a capable leader - - a successful governor of a large state ( pennsylvania ) who won the bronze star for heroism in vietnam . a close friend of george w . bush , he should have been in the administration from the get - go , and was widely rumored to be a candidate for various jobs , including the vice presidency . but after being pilloried by the right because he supports abortion rights , he got zilch . instead of mr . ridge , the administration signed on the pro - life john ashcroft and tommy thompson - - who have brought us where we are today .
the farcical failures of these two cabinet secretaries are not merely those of public relations - - though mr . thompson often comes across as a chamber of commerce glad - hander who doesn ' t know his pants are on fire , and mr . ashcroft often shakes as if he ' s not just seen great caesar ' s ghost but perhaps john mitchell ' s as well . both have a history of letting politics override public policy that dates to the start of the administration . they ' ve seen no reason to reverse their partisan priorities even at a time when the patriotic duty of effectively fighting terror should be their no . 1 concern .
pre - sept . 11 , mr . thompson , in defiance of science , heartily lent his credibility to the bush administration ' s stem cell ' ' compromise ' ' by going along with its overstatement of the viability and diversity of the stem cell lines it would deliver to researchers . post - sept . 11 , he destroyed his credibility by understating the severity of the anthrax threat , also in defiance of science . now he maintains that the $ 1 . 5 billion the administration is requesting to plug the many holes in our public health system - - almost all of it earmarked for stockpiling pharmaceuticals , not shoring up local hospitals - - is adequate for fighting bioterrorism . this , too , is in defiance of all expert estimates , including that of the one physician in the senate , the republican bill frist .
it should also be on mr . thompson ' s conscience that for the first two weeks of the anthrax crisis he kept the federal government ' s house physician - - david satcher , the surgeon general and a much - needed honest broker of public health - - locked away , presumably because dr . satcher , a clinton appointee , became persona non grata in the bush administration for issuing a june report on teenage sexuality that angered the religious right . only after mr . ridge arrived on the scene was the surgeon general liberated from the gulag .
as for mr . ashcroft , he has gone so far as to turn away firsthand information about domestic terrorism for political reasons . planned parenthood , which has been on the front lines of anthrax scares for years and has by grim necessity marshaled the medical and security expertise to combat them , has sought a meeting with the attorney general since he took office but has never been granted one . this was true not only before sept . 11 but , says ann glazier , planned parenthood ' s director of security , remains true - - even though her organization , long targeted by such home - grown talibans as the army of god , has a decade ' s worth of leads on ' ' the convergence of international and domestic terrorism . ' '
ms . glazier found the sight of mr . ashcroft and other federal keystone kops offering a $ 1 million reward for anthrax terrorists a laughable indication of how little grasp they have of the enemy . ' ' religious extremists don ' t respond to money , ' ' she points out . such is the state of the f . b . i . , she adds , that one agent told a clinic to hold onto a suspect letter for a couple of days ' ' because we have so many here we ' re afraid we ' re going to lose it ' ' ( perhaps among the timothy mcveigh documents ) .
if either the attorney general or the secretary of health and human services inspired anything like the confidence that , say , mayor giuliani does , there wouldn ' t have been a need to draft mr . ridge . even so , he ' s mainly a p . r . gimmick - - a man who should have been in the administration in the first place reduced to serving as a fig leaf for lightweights . as director of homeland security , he ' s allegedly charged with supervising nearly 50 government agencies - - so far with roughly a dozen staff members . when asked to define mr . ridge ' s responsibilities , ari fleischer said on wednesday that it was ' ' a very busy coordination job , ' ' but so far mr . ridge is mainly sowing still more confusion .
the one specific duty that he has claimed - - in an interview with tom brokaw - - was that he ' d be the one ' ' making the phone call ' ' to the president to shoot down any commercial airliner turned into a flying bomb by hijackers . that presumably comes as news to donald rumsfeld , who made no provision for any homeland security czar in the air force chain of command he publicly codified days after mr . ridge ' s appointment .
since the administration tightly metes out the news from afghanistan , we can only hope that the war there is being executed more effectively than the war here - - even as mr . rumsfeld and his generals now tell us that the taliban , once expected to implode in days , are proving viet - cong - like in their intractability . the wall street journal also reported this week that ' ' instead of a thankful afghan population , popular support for the taliban appears to be solidifying and anger with the u . s . growing . ' '
maybe we ' re losing that battle for afghan hearts and minds in part because the bush state department appointee in charge of the propaganda effort is a c . e . o . ( from madison avenue ) chosen not for her expertise in policy or politics but for her salesmanship on behalf of domestic products like head & shoulders shampoo . if we can ' t effectively fight anthrax , i guess it ' s reassuring to know we can always win the war on dandruff .
drawing
copyright ? 2000 dow jones & company , inc . all rights reserved .
city - enron directors cash in shares .
by simon english .
10 / 27 / 2001
the daily telegraph
p 31
( c ) telegraph group limited , london , 2001
leading executives at enron , the troubled us energy giant , cashed in shares worth more than $ 100 m ( # 70 m ) this year in the run - up to a financial crunch that has left the company ' s credibility in ruins .
research by thomson financial shows that kenneth lay , chief executive , sold about 400 , 000 shares this year , netting him more than $ 25 m . he still held 2 . 8 m shares until july .
other executives made similar sales , a revelation likely to anger investors who have seen the shares fall from $ 83 at the start of the year to $ 45 by july . they halved again this week and fell to below $ 16 yesterday . enron declined to comment on the share sales .
mr lay said in a statement that he is seeking to " dispel uncertainty in the financial community " by drawing on lines of credit to restore faith in enron ' s financial strength . enron will pay off debts of $ 2 . 2 billion and keep another $ 800 , 000 in cash . he said : " we know we have our work cut out for us if we are to rebuild our credibility with the investment community . "
the company is facing an inquiry by the securities & exchange commission into partnerships managed by andrew fastow , former chief financial officer .
mr fastow was ousted on wednesday night as part of the company ' s moves to restore confidence , though enron insists he has done nothing wrong .
enron lost $ 1 billion in the third quarter on what it has called " failed investments " .
copyright ? 2000 dow jones & company , inc . all rights reserved .
india : lenders to meet over enron ' s dabhol on nov 3 .
10 / 27 / 2001
reuters english news service
( c ) reuters limited 2001 .
bombay , oct 27 ( reuters ) - lenders to power plant in india majority owned by enron corp have called a meeting next week in london to discuss ways of reviving the beleaguered project , a banking source said on saturday .
they will examine offers that two indian companies have put forward for buying the u . s . energy giant ' s 65 percent stake , and those of two other u . s . firms , in dabhol power company ( dpc ) , which is building the controversial project , the source told reuters .
the meeting of lenders , who include multinational banks such as citibank and bank of america , will be held on november 3 , the source added .
at stake is not just the fate of the $ 2 . 9 billion , 2 , 184 mw project , which is india ' s largest foreign direct investment , but also the over $ 600 million investment of enron , general electric co and bechtel .
all three companies are founders of dpc , which in 1995 got permission from india ' s maharashtra state government to set up the plant on its coast .
the plant ' s first phase of 740 mw was completed in 1999 , but work on the second phase of 1 , 444 mw , which is 97 percent complete , was abruptly stopped in june this year following a blazing row with cash - strapped state utility mseb .
mseb , which agreed in 1995 to take the plant ' s entire output , said it can no longer do so because dabhol ' s power is too costly .
dabhol , in turn , accused mseb of defaulting on its monthly payments and served a preliminary notice to terminate the power purchase contract .
under this notice , both companies are given six months time to settle the matter through negotiations . if talks fail , dabhol has the right to issue a final termination notice and take the matter to arbitration in london . that six month period expires on november 19 .
houston - based enron , which owns 65 percent of dabhol , further announced that it intends to exit the project and offered to sell its equity to the indian government .
time running out
the business standard newspaper reported that next week ' s meeting would also discuss a request by dabhol to finally terminate the contract after november 19 .
" it is one of the items on the agenda , " the paper quoted a senior banker as saying .
the paper said once dabhol serves the final notice , the matter proceeds to arbitration , which would not help india .
" the widespread view among the government and lenders is that in such a situation dpc will win hands down , " the paper added .
a dabhol spokesman could not be contacted immediately .
the source said the meeting would review the progress made in resolving the dispute so far .
the indian government has not responded to enron ' s offer to buy its equity , but two indian companies , bses ltd and tata power ltd , have shown interest .
they have agreed to take over the project if the cost is reduced , and if the founders agree to sell their stake at a discount .
local business daily , the economic times reported on friday that tata power and bses are willing to pay the founders $ 450 - $ 600 million for the 85 percent stake held by enron , ge and bechtel .
enron has rejected the offer and is not ready to settle for anything less than $ 1 billion , the paper added .
officials of tata power and bses were not immediately available for comment .
( $ 1 = 48 . 00 indian rupees ) .
copyright ? 2000 dow jones move could block high - speed service
the associated press , bloomberg news
10 / 27 / 2001
the seattle times
fourth
e 4
( copyright 2001 )
houston - - enron has sued microsoft , alleging it breached a contract for broadband services , in a move that could temporarily block the largest software company ' s msn high - speed internet service in some u . s . regions .
microsoft said the dispute temporarily blocks the company from providing the high - speed service in areas where enron provides broadband access , leaving msn fully operational only in the 14 states - - including washington - - where qwest communications international operates , said bob visse , director of marketing for msn .
enron ' s lawsuit was filed thursday , the same day microsoft had planned to offer fast internet access in 45 cities to give it access to potential customers in 29 million homes . microsoft , the no . 2 u . s . internet provider , is making a push to win customers from aol time warner .
" we are trying to resolve the issues with enron , as quickly as possible and at the same time we are evaluating other providers , " visse said .
enron spokeswoman karen denne declined to comment on the lawsuit , citing company policy on pending litigation . enron , based in houston , is the largest energy trader .
enron in june signed an agreement with microsoft to provide bandwidth for msn internet service . under the agreement , enron isn ' t required to deliver operational broadband services if microsoft hasn ' t first provided a billing and ordering system , dow jones news wire reported .
enron claims in its lawsuit that microsoft failed to deliver the ordering and billing system required in the initial phase of the deal , dow reported .
alternative browser - users denied microsoft entry
new york - - microsoft ' s premier web portal , msn . com , denied entry to millions of people who use alternative browser software such as opera and told them to get microsoft ' s products instead .
the decision led to complaints from the small but loyal opera community that microsoft was abusing its status as the internet ' s browser leader . microsoft later backed off and said yesterday that it would support the other browsers after all .
browser products affected by the shutout , which was triggered by a face - lift of the msn . com web site , included opera , mozilla and amaya , said kevin reichard , editorial manager for internet . com ' s browserwatch site .
mike pettit , president of procomp , an anti - microsoft group , urged state and federal investigators to look into the matter as part of its lawsuit accusing microsoft of anti - competitive practices .
- - the associated press
microsoftsf to shut down ; sony will run retail store
san francisco - - sony will take over a retail store it manages with microsoft next month , when the biggest software maker ' s xbox goes up against sony ' s playstation 2 in a contest for control of the $ 20 billion video - game market , a sony spokeswoman said .
the two companies agreed to shut down microsoftsf , a retail outlet in sony ' s san francisco metreon entertainment complex . it will be replaced with a digital solutions electronics store run by sony on thursday , metreon spokeswoman kirsten maynard said .
in april 1998 , the companies said they would open the store that displays and sells microsoft products alongside sony electronics that run the software . in march 2000 , microsoft announced the xbox , a game console with an advanced - graphics chip that goes on sale nov . 15 .
" a lot has changed with both companies , " maynard said . " it sort of became not - a - fit anymore . "
sony metreon won ' t carry the xbox or game cube , a new video console from nintendo that goes on sale nov . 19 , she said . officials at microsoft couldn ' t be reached for comment on the shutdown .
- - bloomberg news
copyright [ copyright ] seattle times company , all rights reserved . you must get permission before you reproduce any part of this material .
copyright ? 2000 dow jones & company , inc . all rights reserved . | 0 | ham | enron mentions | enron discusses credit line of $ 1 billion to $ 2 billion with banks
the wall street journal , 10 / 29 / 01
manager ' s journal : how enron ran out of gas
the wall street journal , 10 / 29 / 01
enron seeks additional financing
the new york times , 10 / 29 / 01
global investing : enron stock plunge deals a heavy blow to mutual funds
financial times ; oct 29 , 2001
comment & analysis - enron flickers .
financial times , 10 / 29 / 01
front page - companies reportedly for 1 - 2 bln usd
afx ( ap ) , 10 / 29 / 01
enron said seeking new credit lines
american banker , 10 / 29 / 01
usa : enron in talks for $ 1 - 2 bln credit line - wsj .
reuters english news service , 10 / 29 / 01
japan : japan ' s teijin , enron study coal - fired power plant .
reuters english news service , 10 / 29 / 01
enron , teijin to build power plant in japan , report says
bloomberg , 10 / 29 / 01
once - mighty enron strains under scrutiny
the new york times , 10 / 28 / 01
plumbing mystery of deals by enron
the new york times , 10 / 28 / 01
investors seem to ignore discouraging news
the new york times , 10 / 28 / 01
enron asks banks for more credit after stock slide , ft reports
bloomberg , 10 / 28 / 2001
enron asks banks for additional credit - ft
dow jones energy service , 10 / 28 / 01
week in review top stories oct . 22 - 26 lockheed edges out boeing for contract
los angeles times , 10 / 28 / 01
devon energy makes building its own with major lease
houston chronicle , 10 / 28 / 01
india press : enron plans to exit lng shipping jv
dow jones international news , 10 / 28 / 01
enron taps all its credit lines to buy back $ 3 . 3 billion of debt
the new york times , 10 / 27 / 01
companies stock slides
associated press newswires , 10 / 27 / 01
enron decline continues
los angeles times , 10 / 27 / 01
enron taps credit line ; stock slides / company says cash will boost confidence
houston chronicle , 10 / 27 / 01
enron says microsoft breached contract
houston chronicle , 10 / 27 / 01
how to lose a war
the new york times , 10 / 27 / 01
city - enron directors cash in shares .
the daily telegraph , 10 / 27 / 01
india : lenders to meet over enron ' s dabhol on nov 3 .
reuters english news service , 10 / 27 / 01
enron sues microsoft for breach of contract ; move could block high - speed service
the seattle times , 10 / 27 / 01
enron discusses credit line of $ 1 billion to $ 2 billion with banks
by jathon sapsford and john emshwiller
staff reporters of the wall street journal
10 / 29 / 2001
the wall street journal
al 0
( copyright ( c ) 2001 , dow jones & company , inc . )
enron corp . , scrambling to restore confidence in its finances , is negotiating with banks for a new credit line of between $ 1 billion and $ 2 billion , and is likely to close a deal within days , according to officials familiar with the matter .
the new credit line is intended to bolster enron ' s financial condition and head off a potentially devastating loss of investor and business confidence . the new credit would supplement existing lines , which are largely tapped out after enron last week drew down about $ 3 billion to increase cash reserves and calm fears in the stock , bond and energy markets .
an enron spokesman confirmed that the company is negotiating a new credit line , but said he couldn ' t supply any further details .
houston - based enron is the nation ' s biggest energy trader and a principal in nearly one - quarter of all electricity and natural - gas trades . once a favorite of wall street , the company now is in the unfamiliar position of convincing a deeply concerned investment community that , despite difficulties , its finances remain sound .
confidence in enron ' s financial situation was shaken after enron earlier this month announced a $ 618 million third - quarter loss and disclosed a $ 1 . 2 billion erosion of shareholder equity related to controversial transactions it had done with entities connected to its then - chief financial officer , andrew fastow .
last week , enron replaced mr . fastow and said that the securities and exchange commission was looking into the transactions . the company has consistently said that the transactions were proper and legal .
enron ' s stock price fell again friday . as of 4 p . m . , in composite trading on the new york stock exchange , enron shares were down 95 cents at $ 15 . 40 . enron shares have fallen 50 % in the past two weeks and are down 83 % from a sept . 18 , 2000 , high of $ 89 . 63 .
late last week , enron tapped its existing credit lines , with part of that money being used to redeem nearly $ 2 billion of its outstanding commercial paper , or short - term corporate ious . ron barone of credit - rating agency standard & poor ' s said he believes that enron was " getting a bit more resistance " recently in rolling over its commercial paper as it came due . thus , enron probably decided it would be easier simply to redeem the paper outstanding , he said .
the enron spokesman yesterday said that paying off the commercial paper and still leaving the company with an additional roughly $ 1 billion cash on hand would give it more financial flexibility .
also last week , credit - rating agencies warned investors they were reviewing enron ' s debt and commercial - paper ratings for a possible downgrade . a lower rating could hamper enron ' s core trading businesses .
behind the worries among these agencies , in part , is the loss of investor confidence , which one of the rating companies , fitch , said in a report last week could impair " enron ' s financial flexibility and access to capital markets , therefore impacting its ability to conduct its business . "
the enron spokesman said yesterday that the company ' s trading partners are doing business with enron on " essentially the same terms " as they have in the past . " there has been no significant change in the credit conditions , " he said . trading partners demanding significantly stricter terms from enron would be a sign of further deteriorating confidence in the energy giant ' s finances .
the banks involved in the current negotiations , including j . p . morgan chase & co . and citigroup inc . , are asking enron for stricter covenants on the new credit line than they had asked for in the past , one official said .
bankers involved with the company say the goal of the new credit line is to show the investment community that enron can meet its commitments . " confidence in this company was lost , " said one bank official involved in the negotiations for a new credit line . " but confidence will be restored . "
corporations of enron ' s size commonly establish credit lines only to demonstrate to the investment community that in case of an emergency , they have access to cash . in practice , few companies actually make use of these lines . thus , drawing down credit lines , while providing immediate cash , also illustrates the pressure enron is feeling .
copyright ? 2000 dow jones & company , inc . all rights reserved .
manager ' s journal : how enron ran out of gas
by paul kedrosky
10 / 29 / 2001
the wall street journal
a 22
( copyright ( c ) 2001 , dow jones & company , inc . )
is troubled enron corp . the long term capital management of the energy markets , or merely yet another mismanaged company whose executives read too many of their own press releases ? or is poor enron just misunderstood ? those are the questions after another week of chinese water torture financial releases from the beleaguered houston - based energy concern .
a year ago enron was the hottest of the hot . while tech stocks were tanking , enron ' s shares gained 89 % during 2000 . even die - hard enron skeptics - - of which there are many - - had to concede that last year was a barnburner for the company . earnings were up 25 % , and revenues more than doubled .
not bad , considering where the company came from . a decade ago 80 % of enron ' s revenues came from the staid ( and regulated ) gas - pipeline business . no longer . enron has been selling those assets steadily , partly fuelling revenues , but also expanding into new areas . by 2000 , around 95 % of its revenues and more than 80 % of its profits came from trading energy , and buying and selling stakes in energy producers .
the stock market applauded the move : at its peak , enron was trading at around 55 times earnings . that ' s more like cisco ' s once tropospheric valuation than the meager 2 . 5 times earnings the market affords enron competitor duke energy .
but enron management wanted more . it was , after all , a " new economy " web - based energy trader where aggressive performers were lucratively rewarded . according to enron chairman and ceo ken lay , the company deserved to be valued accordingly . at a conference early this year he told investors the company ' s stock should be trading much higher - - say $ 126 , more than double its price then .
then the new economy motor stalled . the company ' s president left under strange circumstances . and rumors swirled about enron ' s machinations in california ' s energy markets . investors pored over enron ' s weakening financial statements . but enron analysts must have the energy and persistence of talmudic scholars to penetrate the company ' s cryptic financials . in effect , enron ' s troubles were hiding in plain sight .
it should have been a warning . because of the poor financial disclosure there was no way to assess the damage the economy was doing to the company , or how it was trying to make its numbers . most analysts blithely concede that they really didn ' t know how enron made money - - in good markets or bad .
not that enron didn ' t make money , it did - - albeit with a worrisomely low return on equity given the capital required - - but sometimes revenues came from asset sales and complex off - balance sheet transactions , sometimes from energy - trading revenues . and it was very difficult to understand why or how - - or how likely it was enron could do it again next quarter .
enron ' s financial inscrutability hid stranger stuff . deep inside the company filings was mention of ljm cayman , l . p . , a private investment partnership . according to enron ' s march 2000 10 - k , a " senior officer of enron is the managing member " of ljm . well , that was a puzzler . ljm was helping enron " manage price and value risk with regard to certain merchant and similar assets by entering into derivatives , including swaps , puts , and collars . " it was , in a phrase , enron ' s house hedge fund .
there is nothing wrong with hedging positions in the volatile energy market - - it is crucial for a market - maker . but having an enron executive managing and benefiting from the hedging is something else altogether , especially when the enron executive was the company ' s cfo , andrew fastow . while he severed his connection with ljm ( and related partnerships ) in july of this year - - and left enron in a whirl of confusion last week - - the damage had been done .
as stories in this paper have since made clear , mr . fastow ' s ljm partnership allegedly made millions from the conflict - ridden , board - approved ljm - enron relationship . and recently enron ended the merry affair , taking a billion - dollar writedown against equity two weeks ago over some of ljm ' s wrong - footed hedging . analysts , investors , and the securities & exchange commission were left with many questions , and very few answers .
to be fair , i suppose , enron did disclose the ljm arrangement more than a year ago , saying it had erected a chinese wall between fastow / ljm and the company . and in a bull market , no one paid much attention to what a bad idea that horribly conflicted relationship was - - or questioned the strength of the wall . now it matters , as do other enron - hedged financings , a number of which look to have insufficient assets to cover debt repayments due in 2003 .
we didn ' t do anything wrong is mr . lay ' s refrain in the company ' s current round of entertainingly antagonistic conference calls . that remains to be seen , but at the very least the company has shown terrible judgment , and heroic arrogance in its dismissal of shareholders interests and financial transparency .
where has enron ' s board of directors been through all of this ? what kind of oversight has this motley collection of academics , government sorts , and retired executives exercised for enron shareholders ? very little , it seems . it is time enron ' s board did a proper investigation , and then cleaned house - - perhaps neatly finishing with themselves .
- - -
mr . kedrosky is a professor of business at the university of british colombia .
copyright ? 2000 dow jones section a
enron seeks additional financing
by richard a . oppel jr .
10 / 29 / 2001
the new york times
page 9 , column 4
c . 2001 new york times company
dallas , oct . 28 - - the enron corporation , still struggling to reassure investors it can weather a financial crisis over complicated transactions involving its former chief financial officer , is seeking $ 1 billion to $ 2 billion in additional financing from banks , an industry official said today .
last week , enron , the nation ' s largest energy - trading concern , used about $ 3 billion in available credit lines and spent about $ 2 billion to pay off commercial paper . now , by obtaining even more financing , enron is hoping to convince investors and other energy - trading firms that it will not face a cash squeeze that could lead trading partners to refuse to extend credit or do business with it .
enron ' s board , which has been holding meetings by telephone over the last two weeks to monitor the company ' s financial situation , held another meeting this afternoon . ' ' the board is meeting frequently and will announce any actions when appropriate , ' ' an enron spokesman said .
two weeks ago , enron disclosed that its shareholder equity had been reduced by $ 1 . 2 billion because of deals with investment partnerships involving its former chief financial officer , andrew s . fastow , who was ousted last week . the company also disclosed about $ 1 billion in separate write - offs , and it said last week that the securities and exchange commission had made an inquiry into its financial accounting .
enron hopes to maintain its investment - grade credit rating , which is crucial to ensuring that other energy traders continue to do business with it . lately , enron ' s bonds have been trading at prices more like junk bonds , and two major credit - rating agencies are considering whether to downgrade the company ' s rating .
copyright ? 2000 dow jones oct 29 , 2001
by agencies : agency material and elizabeth wine
enron shares plunged 40 per cent in the last week , doing severe damage to mutual funds , the company ' s largest institutional ownership bloc , and the havoc may continue .
more than 15 per cent of the 4 , 000 us equity funds held shares in the embattled company ' s shares as of the most recent reporting period , according to fund tracker morningstar .
mutual funds held a fifth of enron ' s shares , but that percentage is likely to be much lower now , say fund analysts , who suggest much of the stock ' s halving in october is due to large sales by institutional holders .
janus , the growth fund specialist , was the largest institutional shareholder according to the most recent filings , dated june 30 , with more than 42 m shares representing a stake worth dollars 2 . 1 bn .
the stake - if still held in its entirety - would be worth dollars 659 m at friday ' s closing price of dollars 15 . 40 . enron shares dropped 95 cents , or 5 . 81 per cent on friday , taking its total fall to nearly 41 per cent last week on concerns over accounting questions and some limited partnerships created by andrew fastow , former chief financial officer . on friday , several leading rating agencies put the company ' s debt on credit watches , and enron bond prices plunged . the company ' s stock is down 81 per cent since january .
most fund managers , including those at janus , refuse to discuss a company in which they are actively trading . however , several mutual fund groups with large enron stakes have said their listed positions are " dated " , implying that the funds ' positions in the company have changed .
morningstar analyst christine benz , who follows the janus funds , said managers of the group ' s larger funds had been " lightening up " their enron holdings this year . she said blaine rollins , who manages the dollars 23 bn flagship janus fund , said that in september he had sold some of his stake - listed as 2 . 15 per cent of outstanding shares as of april 30 - but did not say when .
ken zschappel , manager of the dollars 11 bn aim constellation fund , also declined to discuss his holdings , listed as 0 . 27 per cent of outstanding shares as of march 31 . but aim said the position had since been " trimmed substantially " .
other top fund owners , as of the most recent filings , included the alliance premier growth fund , the janus twenty , janus mercury and janus growth & income funds , fidelity magellan , axp new dimensions fund , putnam investors , putnam voyager and putnam new opportunities funds and morgan stanley dividend growth fund .
copyright : the financial times limited
comment & analysis - enron flickers .
by simon london and sheila mcnulty .
10 / 29 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
comment & analysis - enron flickers - once a paragon of the new economy , the us energy group is under scrutiny for its opaque accounting and free - wheeling management , write simon london and sheila mcnulty .
enron has some explaining to do . for the past decade or more , the texas - based company has basked in the admiration of investors and business school professors eager to understand its transformation from staid utility to fast - growing energy trader . now it faces scrutiny of a more unwelcome kind .
its share price has been falling since the beginning of this year . the us securities and exchange commission is investigating multi - million dollar deals with a private equity fund associated with its own chief financial officer , which resulted in a $ 1 . 2 bn reduction in shareholders ' equity . a hastily - convened conference call last week with analysts raised as many questions as it answered about these " related - party transactions " . the departure of andy fastow , the aforementioned cfo , soon followed .
with its credit rating under review by two leading ratings agencies , enron has also been forced to draw down bank credit lines . yesterday if confirmed it was trying to establish additional lines of liquidity .
" this marks the end of enron ' s walk on the wild side , " observes curt launer , an analyst with credit suisse first boston , the investment bank .
on the surface , events at enron can be explained by the combination of deteriorating trading conditions , a complex capital structure and poor investor relations . but the root causes go back further . the entrepreneurial culture and dynamic management that fuelled enron ' s growth in the 1990 s appear to have also sown some of the seeds of the present crisis . therein may lie a cautionary tale for all executives trying to sprinkle " new economy " magic on to old economy companies .
enron ' s transformation began in earnest in 1990 with the arrival of jeffrey skilling , who was hired from mckinsey , the management consulting firm , to develop energy trading .
for the previous decade enron had been emerging as a force in the deregulating us energy markets under the guidance of kenneth lay , a former deputy under - secretary of energy . mr lay remains chairman . but it was mr skilling who spearheaded the move into trading energy as well as generating and supplying it .
the two sides of the business - trading and generation / supply - have always been strange bedfellows . the former demands an entrepreneurial spirit more likely to be found on wall street than in a utility . mr skilling ' s answer in the early 1990 s was to bring in talent from outside the company . one of his first recruits was mr fastow , an expert in securitisation , the repackaging of financial assets so they can be traded in financial markets .
the energy trading division tried from the start to differentiate itself . a management structure was introduced with only four layers - vice - president , director , manager and associate / analyst - much like a consulting firm . employees were free to take as much holiday as they liked , so long as they delivered results . as one of mr skilling ' s early recruits recalled : " it was all about creating an atmosphere and deliberately breaking the rules . "
the seemingly free - wheeling style was based on a " loose - tight " management model expounded by tom peters and bob waterman , the management writers and mckinsey alumni . at enron this meant that employees in the merchant energy business were encouraged by huge bonuses to pursue new ideas and innovate in existing markets .
up - and - coming employees moved freely between projects in pursuit of glory . louise kitchen , the 32 - year - old british executive who was the creative force behind enron online , the group ' s internet - based trading platform , changed jobs or was promoted seven times in five years .
balancing these loose management practices were tight central control of risk , legal commitments , finance and performance evaluation / remuneration . mr skilling once described the approach in this way : " as long as you clear your deals or business ideas through those screens , you can do whatever you want around here . "
this approach did deliver growth and innovation . as well as making markets in its core energy products , enron now trades everything from weather derivatives - which enable companies to insure themselves against unfavourable climatic conditions - to broadband telecommunications capacity and metals . the success of enron online allows the group to describe itself as the world ' s leading e - commerce company .
it has also started marketing electricity to us consumers through a joint venture with international business machines and america online , the internet service provider .
in february this year mr skilling got his reward : he became chief executive of a group ranked seventh in fortune magazine ' s list of the 500 most powerful us corporations - ahead of such corporate giants as ibm , at & t , bank of america and boeing .
in retrospect , however , this breakneck pace of growth and innovation was achieved at a price . first was the personal cost to mr skilling . in august he abruptly resigned after only six months in the top job . personal , non - health related reasons were cited and investors have received no further explanation .
a second cost was an enormous increase in financial complexity . in order to avoid a ballooning of assets and liabilities as the group expanded , enron used a range of off - balance sheet vehicles to help finance expansion . ljm , the private equity fund in which mr fastow played a role , is just one of a cast of characters to be found in the footnotes to enron ' s accounts . other financing vehicles include osprey , marlin , whitewing , atlantic water trust and azurix . " they went after too many things too quickly , " says stephen moore of moody ' s investors service , the credit ratings agency .
a third cost , associated with the last , was a loss of financial transparency . the group ' s extensive use of swaps , options and other derivative financial instruments in its merchant energy business means that investors have little idea of how enron actually makes its money - or the underlying risks to which it is exposed .
david fleischer , an analyst at goldman sachs , summed up the views of many investors during last week ' s conference call . he told the group ' s management : " the company ' s credibility is being severely questioned and there is a need for much more disclosure . there is an appearance that you are hiding something or that there is something going on beneath the surface that may be questionable . "
the fourth cost was a loss of strategic focus . " the problems , in our view , stem from enron venturing too aggressively in areas outside of its core skills , " argues raymond niles , analyst at salomon smith barney . " power plants in india , water companies , extension of their franchise to the mass retail market , and using a fibre - optic network to deliver content over the internet are all unrelated , or only tangentially related , to their core merchant energy business . "
enron executives also appeared to get carried away with the prospects for some of these ventures . this time last year mr skilling was arguing that enron broadband was a business worth $ 35 bn ( # 24 bn ) in its own right . this helped push the share price to all - time highs - and storing up trouble when trading volumes failed to materialise .
" they over - promised on the new business they created , " says chris bartlett , a professor at harvard business school and long - time watcher of the company . " enron was trying to ride the dotcom bubble with enron online and the broadband business . to some extent they are now paying the price . "
will enron weather the storm ? notwithstanding the risk of further out - of - the - blue financial shocks , most analysts believe that it will . the merchant energy business remains powerful and profitable . mr niles at salomon smith barney points out that this side of the group drives more than 80 per cent of earnings and has shown consistent 30 - 40 per cent annual growth over the past three years . assets totalling more than $ 4 bn were also earmarked for disposal before the current crisis erupted , underlining that there is plenty of realisable value within the group ' s portfolio of physical energy assets .
and yet the doubts remain . it is , ultimately , a question of confidence and credibility . investors suspect that the balance between loose and tight management methods has tilted too far towards the former . mr lay and his team will have to tighten up .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
front page - companies & markets - enron asks banks for additional credit .
by sheila mcnulty and gary silverman .
10 / 29 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron , the troubled us energy group , was attempting yesterday to persuade banks to provide additional credit to bolster its position after a sharp fall in its share price .
the houston - based company was also due last night to hold a special board meeting to consider confidence - building measures after surprise financial disclosures damaged its reputation among us investors .
last week the company raised $ 3 . 3 bn ( euros 3 . 7 bn ) in cash to bolster its financial position but enron admitted yesterday that it was still looking for additional finance . the company insisted , however , that it was in good financial health and that its core energy trading business remained strong .
mark palmer , an enron spokesman , said he hoped the company would have something to announce in coming days from its latest effort to " establish additional lines of liquidity " . " once we are able to get the liquidity position shored up , that will put a lot of fears of the unknown to rest , " mr palmer said .
the company ' s problems have become public since an announcement on october 16 that it would take a $ 1 . 01 bn special charge and write down shareholders ' equity by another $ 1 . 2 bn . the moves followed losses arising from a private equity operation run by andrew fastow , its former chief financial officer , who was forced to take a leave of absence last week .
enron ' s share price has fallen more than 50 per cent since the october 16 announcement and its bonds have been trading at levels that are technically " junk " status , though its official ratings are still investment grade .
" our concern is that a reduction in the debt rating could impair their ability to operate their trading and marketing operations , " said raymond niles of salomon smith barney . " these activities require at least an investment grade credit rating , or enron could be subject to an increase in margin requirements . "
the controversy over enron ' s balance sheet adjustment has resulted in a request for information from the securities and exchange commission . enron flickers , page 22 .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron seeks further credit to reassure investors , wsj says
2001 - 10 - 29 04 : 30 ( new york )
houston , oct . 29 ( bloomberg ) - - enron corp . , the largest
energy trader , asked banks to provide a further credit line of as
much as $ 2 billion in a bid to restore investor confidence in the
company , the wall street journal reported , citing unidentified
officials close to negotiations .
the new credit line is additional to the $ 3 . 3 billion credit
line it tapped last week , the paper said , and should be completed
within days .
investors have shunned the company since oct . 16 when enron
reported a third quarter loss of $ 618 million and wrote down
shareholders ' equity by another $ 1 . 2 billion , the journal said .
the stock has fallen by 54 percent since the announcement .
the company ' s shares were further dented after an investor
sued enron last month , saying dealings with two partnerships run
by former chief financial officer andrew fastow , cost the company
$ 35 million . the suit also called fastow ' s leadership of the
partnerships , set up to cut enron ' s debt , a conflict of interest .
usa : repeat - electric cowboys get roped in at the energy corral .
by janet mcgurty
10 / 29 / 2001
reuters english news service
( c ) reuters limited 2001 .
new york , oct 26 ( reuters ) - last year , enron corp . was a darling of investors and analysts , but the freewheeling trader of electricity and natural gas now faces a credibility crisis due to a lack of transparency in its business dealings .
enron , trying to shake investor jitters over a possible downgrade of its credit worthiness and their unease over the company ' s complex financial transactions , has seen its shares shed more than half their market value in the past week .
but the largest natural gas and electricity marketer in the united states is not alone in getting its wings clipped as energy prices come down and the market volatility that drove earnings last year eases .
while enron ' s problems differ from more traditional utilities , many other power producers are returning to their roots . they are scrapping plans for splitting operations and questioning whether more risky overseas operations can be supported by lower prices brought on by a slowing economy .
paul patterson , an energy analyst with abn amro , said there are common themes affecting the industry .
" one is lower power prices and the margins that are associated with them . and two is lower stock prices and the ability to finance more asset driven growth , " patterson said .
as earnings fall and forward earnings guidance is revised downward , some power companies are seeking strategies to address the bleaker environment . and plans to spin off units have been postponed or called off .
shares of enron slid $ 1 . 05 , or 6 . 4 percent , to $ 15 . 30 in afternoon trade on the new york stock exchange on friday .
the world has changed
aes corp . , a global power producer whose earnings fell for a second consecutive quarter on a poor showing from operations in brazil and britain , said thursday it would revamp its organization and did not rule out selling off assets .
" it ' s a different place , " aes ' chief executive officer dennis bakke said of the business climate facing utilities today compared with last year ' s powerful growth . on friday , constellation energy group , parent company of baltimore gas & electric , scrapped plans to split its power generation and trading operations into two company because of economic changes . constellation also hired a new chief executive and severed ties with goldman sachs , which planned to make an equity investment in the company .
" the utility industry and energy markets , and indeed the entire u . s . economy , have changed considerably in the past year . as a combined company , we will be better positioned to seize opportunities to grow and deliver , " said christian poindexter , constellation ' s chairman .
return to traditional values
bakke said one prong of aes ' s brave , new world scenario was a renewed emphasis on the traditionally profitable , long - term contract generation business .
it makes sense for power generating companies to sign about 75 percent to 80 percent of their generating capacity into long - term contracts because it provides stability and a level of profitability in a period of flat growth , according to gordon howald , energy analyst with credit lyonnaise .
" calpine does it already , " he said , referring to the california - based independent power producer that has the lion ' s share of the power it generates contracted out . " what drove the valuations in all these companies last year was that power markets were very inefficient . physical reserve margins were low . but with flat to down demand in 2001 - as it appears to be the case - there is very little to lead us to believe that power prices will be anywhere near that level , " he added .
howald said with all the new generation coming on , natural gas prices should remain high but power prices should come down further , squeezing spark spreads , or profit margins , for solely gas fired companies .
smaller companies also rethink strategies
as lower power prices impact earnings , many power companies are turning back to u . s . markets to try to maximize their bottom line .
" earnings for the quarter is not the big deal . the big deal is that for 2002 they are not going to earn as much as people expected . it ' s a downward revision of earnings guidance . " said patterson .
michigan - based cms energy corp . cut its earnings estimates for the second time to $ 2 to $ 2 . 05 for 2002 , down from $ 2 . 79 and said it would sell off certain overseas assets and focus future growth primarily in north america .
cms , whose earnings were down for the third quarter , said it took a charge for planned divestitures , south american energy distribution units as well as other international investments .
allegheny energy inc . also changed its strategy after reporting a fall in third quarter earnings .
the maryland - based company said while it is continuing to work towards getting necessary regulatory approvals for a initial public offering to hold its unregulated assets , it will not proceed with the offering at this time .
" the company will integrated until market conditions are such that demonstrated value can and will be created for shareholders , " allegheny said .
copyright ? 2000 dow jones reportedly for 1 - 2 bln usd
10 / 29 / 2001
afx ( ap )
copyright 2001 afx news ; source : world reporter ( tm )
new york ( afx ) - enron corp is negotiating with banks for a new credit line , a spokesman told the wall street journal .
the company is in talks to raise between 1 - 2 bln usd and is likely to close a deal within days , it quoted officials familiar with the matter as saying .
the deal , which is intended to head off a potential loss of investor and business confidence , would supplement existing lines . these are largely tapped out after enron last week drew down about 3 bln usd to increase cash reserves and calm market fears .
enron earlier this month announced a heavy third quarter loss and erosion of shareholder equity related to controversial transactions it had done with entities connected to its then chief financial officer , andrew fastow .
jms for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
markets
enron said seeking new credit lines
by laura mandaro and alissa schmelkin
10 / 29 / 2001
american banker
31
copyright ( c ) 2001 thomson financial , inc . all rights reserved .
the texas energy and telecommunications giant enron corp . was reportedly negotiating with its lenders about new credit lines friday , a day after it drew down billions on its existing lines .
j . p . morgan chase bank one corp . about $ 100 million ; and wachovia corp . , suntrust banks inc . , and fleetboston financial corp . about $ 50 million each , according to goldman sachs estimates . bank of new york has between $ 50 to $ 100 million of exposure , and northern trust , u . s . bancorp and keycorp also have some lending exposure , ms . applebaum said .
representatives of these banks would not comment on their relationships with enron , or did not return phone calls by deadline .
http : / / www . americanbanker . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
usa : enron in talks for $ 1 - 2 bln credit line - wsj .
10 / 29 / 2001
reuters english news service
( c ) reuters limited 2001 .
new york , oct 29 ( reuters ) - energy trading giant enron corp . is negotiating with banks for a new credit line of between $ 1 billion and $ 2 billion and could close a deal within days , the wall street journal reported in its online edition on monday .
according to officials close to the situation , the new credit would supplement existing credit lines , largely tapped out after the company drew down about $ 3 billion last week to increase cash reserves and calm jittery investors ' fears , the journal reported .
the paper said that an enron spokesman had confirmed that the company is negotiating a new credit line , but could not supply any further details .
confidence in enron has been shattered following disclosures about its involvement in complex partnerships . its stock has tumbled amid a u . s . securities and exchange commission inquiry into the company ' s ousted chief financial officer ' s links to some of the partnerships .
copyright ? 2000 dow jones & company , inc . all rights reserved .
japan : japan ' s teijin , enron study coal - fired power plant .
10 / 29 / 2001
reuters english news service
( c ) reuters limited 2001 .
tokyo , oct 29 ( reuters ) - japan ' s major polyester manufacturer , teijin ltd , said on monday it would conduct a feasibility study with u . s . energy giant enron corp on building a coal - fired power plant .
teijin said in a statement that it and e power corp , a japanese affiliate of enron corp , would look into building the 70 , 000 kilowatt coal - burning thermal power plant in matsuyama , ehime prefecture , on the southwestern island of shikoku , where teijin has a polyester plant .
" we are beginning to consider selling surplus power to third parties other than our own plants , with eyes on further deregulation in japan ' s power market , " a teijin spokesman said .
japan is in the process of deregulating its power market . since march last year , large - lot consumers have been free to choose their suppliers .
in its polyester business , teijin has expanded overseas output while reducing domestic production , a trend which would leave it with surplus power . it is thus looking at how to make good use of any surplus .
the two firms were also considering expanding the capacity of teijin ' s existing power generator in matsuyama , teijin said . it hopes to reduce costs at the inefficient small plant with the help of enron .
enron corp said earlier this year it had presented plans to build a liquefied natural gas ( lng ) fired power plant in northern japan , aiming to become the first foreign company to build such a power plant in japan .
the teijin spokesman said the two firms hoped to conclude the feasibility study by june 2002 .
teijin ' s shares ended the day down 13 yen or 2 . 68 percent at 472 yen .
copyright ? 2000 dow jones section 3
once - mighty enron strains under scrutiny
by alex berenson and richard a . oppel jr .
10 / 28 / 2001
the new york times
page 1 , column 2
c . 2001 new york times company
is time running out for enron ?
at the beginning of this year , the enron corporation , the world ' s dominant energy trader , appeared unstoppable . the company ' s decade - long effort to persuade lawmakers to deregulate electricity markets had succeeded from california to new york . its ties to the bush administration assured that its views would be heard in washington . its sales , profits and stock were soaring .
and under the leadership of jeffrey k . skilling , its chief executive , enron ' s arrogance had grown even more quickly .
the company , based in houston , dripped contempt for the regulators and consumer groups that stood between it and fully deregulated markets - - for electricity , water and everything else . everyone would win under deregulation , enron said - - especially its shareholders , whose stock would soar as the company profited from creating new markets .
' ' we are on the side of angels , ' ' mr . skilling said in march , dismissing those who saw the company as a profiteer in california ' s energy crisis . ' ' people want to have open , competitive markets . they want fair competition . it ' s the american way . ' '
but less than a year later , everybody seems to have lost , especially enron ' s investors . enron ' s stock is plunging , and questions about its finances are mounting .
some experts in the energy industry worry that if the crisis at the company worsens , trading in natural gas and electricity could be seriously disrupted and energy prices could grow more volatile . in a worst - case outlook , enron could become the 2001 version of long - term capital management , the huge hedge fund whose collapse roiled financial markets during the fall of 1998 . enron ' s shares have fallen more than 80 percent this year , erasing $ 50 billion in shareholder value .
enron closed on friday at $ 15 . 40 , down 95 cents , after hitting a 52 - week low of $ 15 . 04 earlier in the day .
the future of electricity deregulation is in doubt , thanks to blackouts and soaring power prices in california earlier this year - - a crisis that ended only when that state contradicted deregulation ' s basic tenets by intervening deeply in the power market . enron ' s efforts to become a profit - making water supplier and to create a new market in broadband communications capacity have been expensive failures . in august , mr . skilling quit , forcing kenneth l . lay , his predecessor as chief executive and still enron ' s chairman , to resume day - to - day control of the company .
the company declined to make senior executives , including mr . lay , available for comment , and asked that questions be submitted in writing . mr . skilling could not be reached .
enron ' s problems boiled over earlier this month , when it disclosed that its shareholders ' equity , a measure of the company ' s value , dropped by $ 1 . 2 billion in the last quarter because of a deal disclosed only very hazily in enron ' s regular financial statements . the securities and exchange commission is looking into the company ' s financial reporting , and some investors question whether enron has overstated profits at its primary business of trading electricity and natural gas .
the slump in the company ' s shares accelerated after enron revealed the fall in its shareholders ' equity . on wednesday , the company forced out its chief financial officer , andrew s . fastow , who is at the center of the controversy over enron ' s confusing finances . the company , which six months ago seemed to be reaping billions of dollars from california ' s energy crisis , today faces a potential cash crunch .
the surprise about shareholder equity inflamed investors ' smoldering concern about enron ' s opaque financial statements . now , with wall street analysts and bond - rating agencies demanding more information about the complex transactions that have fueled the company ' s profits , enron has been reduced to issuing news releases assuring investors that it has adequate access to cash .
enron does not appear to be in immediate danger of running out of cash . on thursday , the company drew down a $ 3 . 3 billion credit line it had previously arranged with a group of banks led by citigroup and j . p . morgan chase , which have each extended at least $ 400 million . but because of enron ' s importance in the natural gas and electricity markets , industry experts say that any problem at the company could disrupt energy trading nationwide .
the supply of natural gas and electricity would probably not be affected even if the company failed , because enron is mainly a trader , rather than a producer , of energy . but a crisis at the company might increase the volatility of energy prices , which have swung wildly in the last year .
philip k . verleger jr . , an energy - markets economist , emphasized that he thought enron would survive this crisis . but he said it was not clear what would happen if enron ran out of cash or if traders that use the company ' s enrononline internet trading marketplace defaulted on their obligations .
' ' you suddenly have all these positions they have taken on there - - are they good ? are the firm ' s hedges good ? what ' s the situation ? ' ' mr . verleger said . ' ' it ' s got everyone scared . ' '
in the short run , enron ' s credit rating may be its biggest problem . if the company ' s rating falls below investment grade , enron could be forced to issue tens of millions of shares of stock to cover loans that it has guaranteed . but creating new shares would make the shares that already exist less valuable , because those shares would no longer represent full ownership of the company .
a drop in the company ' s credit rating could also prompt other energy traders and producers to back away from doing business with enron , hurting the company ' s sales and profits .
enron ' s credit rating stands several notches above the critical point . but its bonds , which are publicly traded , have fallen so low that they are now offering interest rates of almost 10 percent , comparable with many junk bonds . two of the three major credit - rating agencies , moody ' s investors service and fitch investors service , have put enron ' s bonds on review for possible downgrades .
' ' the issue that ' s in the front of everybody ' s mind right now is credit , ' ' said mark gurley , senior vice president and general manager for trading at aquila inc . , one of the nation ' s largest energy traders . aquila is based in kansas city , mo .
for now , aquila and other major energy traders and producers , including reliant energy , the el paso corporation and dynegy , are continuing to do business with enron . and mr . gurley said that enron ' s own trading in the electricity and natural gas markets did not suggest the sort of frenzied selling reminiscent of the collapse of long - term capital management in 1998 .
' ' they haven ' t done anything trading - wise that gives me any indication they are closing their books down , ' ' he said .
still , some executives at other companies said they were looking more carefully at transactions with enron , especially long - term contracts . they also said risk - management and credit officers were calling each other regularly to discuss the situation .
mark palmer , an enron spokesman , said on friday that no energy - trading company had stopped doing business with enron . he declined to say whether any of the company ' s trading partners had suspended or altered credit terms . he said the company was continuing to see normal volumes of business .
but the crisis that enron will face if its credit rating is downgraded is just a symptom of the bigger problem the company must confront . for years , the details of enron ' s finances have been a mystery even to the wall street analysts whose job it is to follow the company , and to the investors who own its stock and bonds . when enron ' s profits were soaring and it was creating lucrative new markets , shareholders did not seem to care about the impenetrability of its financial statements .
now they do . yet the company seems incapable of offering straight answers to the questions investors ask .
to others in the industry , the opaqueness of the company ' s financial statements parallels enron ' s efforts to keep its energy - trading business lightly regulated and free of disclosure requirements . though they do not expect enron to crumble like long - term capital management , they say that , like the giant hedge fund , enron uses a lot of debt , regulatory oversight is limited and outsiders have a difficult time figuring out its finances .
the most pressing concerns are a series of partnerships and trusts enron created to move some of its assets and debt off its balance sheet . with names like marlin and osprey , the partnerships have at least $ 3 . 3 billion in bonds outstanding , backed by assets like a stake in azurix , enron ' s water company subsidiary . enron has promised that if the partnerships ' debts exceed the value of their assets , enron will issue enough new shares to make up the difference .
deals with partnerships formed by mr . fastow , who was chief financial officer when they were organized , led to the $ 1 . 2 billion write - off in shareholders ' equity that enron announced last week . the company has offered only skimpy details of its transactions with those partnerships .
enron ended its relationships with those partnerships in the last quarter , after being criticized by shareholders . in the process , it wrote off a promissory note that it had carried on its books , reducing its shareholders ' equity by $ 1 . 2 billion . but , because of complex accounting rules , the transaction was not apparent in enron ' s quarterly earnings report .
the transaction disturbs investors because it suggests that enron may have found a way to hide losses , throwing the accuracy of its financial statements into question . when enron released third - quarter earnings on oct . 16 , it reported a loss from $ 1 billion in write - offs on failed investments . the earnings statement did not mention the additional $ 1 . 2 billion equity write - down . but the company said its core business had been solidly profitable , and its shares rose .
in a conference call with analysts after the announcement , mr . lay , enron ' s chairman , also disclosed the reduction in shareholder equity . the reference was a brief one , however , and some listeners did not catch it . those analysts were angered when they found out the next day what enron had done , and many were confused by the accounting procedure . enron ' s stock began to slide , and investors clamored for more information about the write - off . but so far , the company ' s efforts to clear up the situation have further unnerved investors .
mr . lay has met with investors during the last two weeks to try to explain the deals , but some on wall street say they have come away with doubts about mr . lay ' s grasp of the situation . they say that the two people at enron who appear to have been most knowledgeable about the deals - - mr . skilling and mr . fastow - - have both left the company .
in an interview in late august , mr . lay said he did not know some details about the deals involving mr . fastow . in response to one question about them , he said , ' ' you ' re getting way over my head . ' '
mr . palmer of enron disputed any suggestion that mr . lay did not have a grasp of the investments at issue , saying mr . lay was handicapped in talking about them because of the s . e . c . investigation . ' ' there is not a whole lot we can say , or should say , about them , ' ' mr . palmer said . he also said the company expected to generate about $ 3 billion in cash through asset sales by the end of next year .
in a conference call on tuesday , analysts pressed mr . lay and other top enron executives to reveal more information about the ljm write - down and its other partnerships . instead , they offered only vague explanations of the deal , leaving wall street worried that more write - offs might be coming .
david fleischer , a goldman , sachs analyst and a longtime supporter of the company , was among those who came away concerned . ' ' if enron is unable to clarify its off - balance - sheet transactions and restore confidence in the very near term by assuring investors that no more surprises are forthcoming that would affect the balance sheet or liquidity position , then the company will likely lose access to the capital markets , ' ' he wrote in a research note after the call .
to try to reassure investors , enron said late thursday that enrononline , its internet - based trading exchange , executed more than 8 , 400 trades that day , a higher - than - normal volume .
' ' we know we have our work cut out for us if we are to rebuild our credibility with the investment community - - and we ' re working on that , ' ' mr . lay said in a statement . ' ' but in the meantime , the best evidence of our strength is the willingness of customers to bring their business to enron . ' '
but those reassurances apparently are no longer enough for wall street . enron ' s stock tumbled almost 6 percent friday , to its lowest levels in six years .
now analysts are scrambling to figure out the extent of enron ' s off - balance - sheet debt and to assess the risk that the company will have to issue new shares to make good on its partnership guarantees .
carol coale , an analyst at prudential securities in houston , calculates that enron may have close to $ 9 billion in off - balance - sheet debt . she said that enron had for two years been trying to sell about $ 6 billion in foreign assets - - including properties in latin america and a power plant in india embroiled in a dispute with the state government - - and she worries about those prospects for sale in light of enron ' s problems and the souring economy .
' ' as enron is forced to sell assets to keep the ratings agencies off their backs , they may have to write those assets down , ' ' ms . coale said . on wednesday , she downgraded her rating on enron to ' ' sell ' ' from ' ' neutral . ' '
' ' the bottom line is , it ' s really difficult to recommend an investment when management does not disclose the facts , ' ' ms . coale said .
short - sellers , who attacked enron ' s accounting even before the company disclosed the write - off , say the company ' s problems may run even deeper than analysts fear . enron may have used the partnerships not just to finance money - losing investments but to hide losses in its core trading business , they say .
' ' the company still isn ' t disclosing enough to know whether the core business , the trading business , is profitable , ' ' said mark roberts , director of research at off wall street , which recommended shorting enron ' s stock on may 7 , when it stood at $ 59 . 43 . ' ' the issue remains : why are they doing these transactions ? our theory has been that the core operations aren ' t that profitable . ' '
james chanos , a leading short - seller who has bet that enron ' s stock will fall , said , ' ' is enron booking gains when it has real profits , but hiding the losses when deals go against it ? ' ' mr . palmer of enron said the company stood by its reported energy - trading profits .
even traders at other energy companies say they do not have a clear picture of enron ' s positions . enron maintains that it is in no danger of being wiped out by a sharp move in electricity or gas prices because it keeps its trading book balanced - - meaning the energy it has agreed to sell is offset , in roughly equivalent amounts , by energy it has agreed to buy .
' ' with these guys , they tell us - - and all you ' ve got is their word - - that they ' re hedged , ' ' said mr . verleger , the economist .
in fact , enron has lobbied forcefully over the years to limit regulation and disclosure of its trading operations . last year , the company successfully lobbied congress to effectively ensure that its internet - trading platform would be exempted from regulation by the commodity futures trading commission .
enron and other power traders do file limited information in reports to the federal energy regulatory commission , the agency that oversees wholesale electricity and natural gas markets . but the commission does not keep track of specific transactions and prices .
large - scale energy trading has existed for only about a half - dozen years . enron pioneered the business , and now dominates it , accounting for about one - quarter of all trading in the united states .
before congress and federal regulators opened up the market for wholesale electricity , a process that began in earnest a decade ago , the power business was a simpler affair . utilities were given areas of monopoly service , and their rates - - and ability to deliver enough electricity - - were overseen by state regulators . but with the move to deregulate the business , independent and unregulated generators and traders have flourished , providing an ever - growing portion of the nation ' s power .
beginning in the 1980 ' s , the sale and transportation of natural gas was also deregulated , spurring enron , which used to be primarily a gas - pipeline company , to move into the trading business .
the company ' s shift to trading gas and electricity accelerated in the mid - 1990 ' s , with the ascension of mr . skilling , who became chief executive in february , just six months before his unexpected resignation . underscoring the change in direction , in securities filings this year enron described its principal business as ' ' security brokers , dealers and flotation . ' ' before , it had said it was in the business of ' ' wholesale - petroleum and petroleum products . ' '
for most of its ascent , enron reported outstanding profit figures and wall street accepted them with pleasure . a year ago , when it disclosed the first transactions with partnerships led by mr . fastow , the company ' s former chief financial officer , analysts who asked questions were told that the deals were routine and were being disclosed only because of mr . fastow ' s involvement .
enron does not appear to face an immediate cash crunch . but the bank credit lines that it drew on last week to pay off its short - term debt will have to be renegotiated next spring . the controversial partnerships do not have to pay their debts until the following year - - unless enron loses its investment - grade credit rating before that .
enron will also need to maintain its large trading positions , which could suffer if participants in those markets grow more nervous about enron ' s credit . when long - term capital was stumbling in 1998 , some wall street rivals sold the securities they thought long - term owned , trying to force long - term to sell its positions quickly and at a loss . something similar in energy markets might be possible . if so , enron might find , as long - term did , that positions that should offset each other do not .
enron ' s new chief financial officer may yet persuade investors that in fact the company ' s profits are real , and that its condition is better than the short - sellers believe . as questions are answered , confidence , and the share price , could rebound .
but for now , investors are skittish , and some competitors are eager to take advantage of enron ' s plight .
photos : enron , which is building a new headquarters in houston , grew with deregulation . but with deregulation in doubt , enron stock has dropped . ( phillippe diederich for the new york times ) ; enron owns 65 percent of the power plant in dabhol , india , but has had trouble collecting payments . ( the new york times ) ( pg . 13 ) ; ' we know we have our work cut out for us , ' says kenneth l . lay , enron ' s chief . ( wgbh / ' ' frontline ' ' ) ( pg . 1 ) chart : ' ' enron ' s board ' ' directors have not addressed the company ' s current difficulties , a spokesman said . kenneth l . lay : 58 chairman john h . duncan : 73 former chairman of the executive committee , gulf and western industries robert a . belfer : 65 chairman , belco oil & gas charles a . lemaistre : 77 president emeritus , m . d . anderson cancer center , university of texas robert k . jaedicke : 72 professor emeritus , graduate school of business , stanford ronnie c . chan : 51 chairman , hang lung group wendy l . gramm : 56 director , mercatus center , george mason university john mendelsohn : 64 president , m . d . anderson cancer center , university of texas paulo v . ferraz pereira : 46 executive vice president , group bozano john wakeham : 68 former british secretary of state for energy norman p . blake jr . : 59 chief executive , comdisco ken l . harrison : 58 former chief executive , portland general electric ( former enron employee ) jerome j . meyer : 63 chairman , tektronix frank savage : 62 chairman , alliance capital management international john a . urquhart : 72 adviser to the chairman , enron herbert s . winokur jr . : 57 president of winokur holdings ( former enron employee ) ( pg . 13 )
copyright ? 2000 dow jones section 3
plumbing mystery of deals by enron
by floyd norris
10 / 28 / 2001
the new york times
page 13 , column 6
c . 2001 new york times company
at the heart of the sudden collapse in investor confidence in the enron corporation are unusual trades it entered into with partnerships led by its chief financial officer , andrew s . fastow , beginning in the summer of 1999 . because they were transactions among related parties , the company was required to disclose them , but the disclosures raised as many questions as they answered . following are some questions that investors are asking , and the currently available answers .
q . why did enron enter into the deals ?
a . enron ' s first disclosures , in 1999 , gave no reason . in later reports , it said it was seeking to ' ' hedge certain merchant investments and other assets , ' ' by which it apparently meant investments in technology and telecommunications companies .
q . how did those investments do ?
a . it looks as if they plunged in value , although there is no clear disclosure on that .
q . why can ' t that be discerned ?
a . the company never said just what the investments were . and the transactions with the partnerships were complicated , involving a variety of derivative securities , enron stock and various promissory notes . enron ' s financial disclosures do not provide enough information to understand the arrangements completely .
q . why were they so complicated ?
a . one reason may have been to use accounting rules to its advantage . one accounting rule dictates that companies may not record profits or losses on transactions in their own stock . if a company sells its shares at $ 10 each and then buys them back - - whether for $ 1 or $ 50 - - there is no gain or loss . but shareholder equity does go up or down on the balance sheet - - in that case reflecting how much extra cash the company took in , or paid out , on the transactions . enron ' s transactions appear to have been structured to fall under that rule .
q . who made money from these transactions ?
a . enron reported some profits along the way from the deals , although not all of the profits were spelled out in its quarterly filings . and it appears that the partnerships distributed money to investors .
q . if the deals began in 1999 , why all the uproar now ?
a . many investors and analysts were not curious about them when everything seemed to be going well . as long as enron was exceeding its forecasted profits each quarter , they were willing to assume that what was not being disclosed was not really important .
q . when were concerns raised with enron ?
a . the complaints grew as enron ' s share price fell earlier this year . by this summer , enron decided that mr . fastow would sell his stake in the partnerships . then , because the partnerships would no longer be considered related to enron , the company would no longer have to disclose anything about the transactions . but investors were still worried , and enron later closed out its deals with the partnerships .
q . how did enron do ?
a . badly . it took a $ 35 million loss , which , given the size of the transactions involved and the previous profits taken , was not very much . but it also reduced shareholder equity by $ 1 . 2 billion .
q . how did that happen ?
a . that , like so much else , is not clear . but it looks as if the partnership owed enron that much money , could not pay and was let off the hook by enron . in return , enron terminated ' ' previously recorded contractual obligations to deliver enron shares in future periods . ' ' enron treated that like a share buyback , even though the shares in question had not been issued , and determined that there was no need to treat it as a loss that would reduce reported earnings .
q . is that legal under the accounting rules ?
a . presumably it is . but enron ' s limited disclosures make it impossible to say for sure . enron may have discovered ways to use the accounting rules to enable it to keep losses off income statements , while leaving profits on them . that may become clearer when the securities and exchange commission , which has begun preliminary inquiries , completes its work . floyd norris
copyright ? 2000 dow jones section 3
databank
investors seem to ignore discouraging news
by michael brick
10 / 28 / 2001
the new york times
page 17 , column 3
c . 2001 new york times company
investors sent stocks markedly higher last week , despite reports on the economy and corporate profits that were resoundingly poor .
the dow jones industrial average , strengthened by triple - digit rallies on monday and thursday , ended the week nearly back to its level of sept . 10 , one day before the attacks on the world trade center and the pentagon . broader indicators ended slightly higher than they were on sept . 10 .
investors overcame their initial discouragement about reports that orders for durable goods and sales of existing homes were deteriorating faster than expected . they also seemed unfazed by reports of corporate profits declining from a year ago , at some companies by more than 30 percent .
all the bad news , investors seemed to surmise , meant that the government was more likely to act aggressively in stimulating the economy , with tax breaks , spending and lower interest rates .
the dow average gained 341 . 06 , or 3 . 7 percent , to close at 9 , 545 . 17 . the nasdaq composite index rose 97 . 65 points , or 5 . 8 percent , to 1 , 768 . 96 . the standard & poor ' s 500 - stock index rose 31 . 13 , or 2 . 9 percent , to 1 , 104 . 61 .
michael brick
charts : ' ' stocks in the news ' ' enron nyse : ene the energy trading company ousted its chief financial officer , andrew s . fastow , whose involvement in complicated transactions with enron caught the attention of the s . e . c . friday ' s close : $ 15 . 40 week ' s change : - 40 . 88 % est . ' 01 p / e : 8 . 52 sbc communications nyse : sbc the company posted a 30 percent decline in earnings and said it would cut thousands of jobs because of the weak economy and strong competition . friday ' s close : $ 39 . 20 week ' s change : - 10 . 17 % est . ' 01 p / e : 16 . 82 walt disney nyse : dis after trimming $ 100 million from the price , disney completed its purchase of the fox family worldwide cable television operation . the deal included $ 2 . 9 billion in cash and $ 2 . 3 billion in assumed debt . friday ' s close : $ 18 . 71 week ' s change : + 1 . 19 % est . ' 01 p / e : 25 . 28 microsoft nnm : msft microsoft introduced its computer operating system , windows xp , the latest version of its flagship product . friday ' s close : $ 62 . 20 week ' s change : + 7 . 43 % est . ' 01 p / e : 33 . 88 vysis nnm : vysi the drug maker abbott laboratories has agreed to acquire vysis , a laboratory products maker , in a stock deal worth about $ 355 million . friday ' s close : $ 30 . 25 week ' s change : + 47 . 13 % est . ' 01 p / e : - - worldcom nnm : wcom the long - distance telephone company posted a 44 percent drop in its third - quarter profit and warned that sales growth in its core data and internet business would slow in the final quarter and in 2002 . friday ' s close : $ 13 . 38 week ' s change : + 1 . 59 % est . ' 01 p / e : 12 . 15 affymetrix nnm : affx affymetrix settled a patent lawsuit over dna analysis technologies with a rival , hyseq , and the companies plan to form a joint venture . friday ' s close : $ 31 . 70 week ' s change : + 72 . 66 % est . ' 01 p / e : - - overture services nnm : over the internet search service , formerly called goto . com , reported a profit in the third quarter and higher sales , as its pay - per - listing service remained popular with advertisers . friday ' s close : $ 25 . 50 week ' s change : + 32 . 88 % est . ' 01 p / e : - - ( source : bloomberg financial markets )
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron asks banks for more credit after stock slide , ft reports
2001 - 10 - 28 20 : 20 ( new york )
houston , oct . 28 ( bloomberg ) - - enron corp . , the largest
energy trader , asked banks to provide further credit after tapping
a $ 3 . 3 billion credit line last week to bolster investor
confidence , the financial times reported , citing company sources .
enron ' s stock has fallen more than 50 percent since oct . 17
when an investor sued the company for conflict of interest over
transactions with affiliates run by enron ' s former chief financial
officer andrew fastow .
the company has been shut out of the leading market for low -
interest , short - term loans since announcing oct . 16 it would take
a $ 1 . 01 billion special charge and write down shareholders ' equity
by another $ 1 . 2 billion , the ft said .
enron spokesman mark palmer said he hoped the company would
announce the new financing facility in coming days , the newspaper
said .
enron asks banks for additional credit - ft
10 / 28 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - ( dow jones ) - enron corp . ( ene ) is attempting to persuade banks to provide additional credit , the financial times reported on its web site sunday .
the company was also due to hold a special board meeting sunday to consider confidence - building measures after surprise financial disclosures damaged its reputation among u . s . investors , the financial times reported .
the financial times quoted enron spokesman mark palmer as saying he hoped the company could have something to announce in coming days as a result of its latest effort to " establish additional lines of liquidity . "
" once we are able to the liquidity position shored up , that will put a lot of fears of the unknown to rest , " the financial times quoted palmer as saying .
copyright ? 2000 dow jones financial desk
week in review top stories oct . 22 - 26 lockheed edges out boeing for contract
abigail goldman ; joseph menn ; jesus sanchez ; jeff leeds ; chuck philips ; meg james ; nancy rivera brooks ; evelyn iritani ; james f . peltz ; myron levin ; peter pae
10 / 28 / 2001
los angeles times
home edition
c - 2
copyright 2001 / the times mirror company
the vote is in . lockheed martin corp . won the coveted right to build the nation ' s next - generation fighter aircraft , beating out boeing co . for what could be the biggest military contract ever .
culminating a five - year battle between two of the world ' s largest defense contractors , pentagon officials picked lockheed martin to begin development of the joint strike fighter , with plans to purchase 3 , 000 of the planes at a cost of more than $ 200 billion .
with the potential for foreign sales topping another $ 200 billion , the contract is considered the most lucrative in u . s . history . " this really is the contract of the millennium , " said christopher hellman , analyst with the center for defense information . " nothing has or will come close . "
peter pae
ford settles lawsuit over faulty part
in the largest automotive class - action settlement in history , ford motor co . will reimburse customers who paid hundreds of millions of dollars to replace a faulty part that caused their vehicles to stall .
it was uncertain how many consumers would qualify for reimbursements in the range of $ 160 apiece .
the settlement caps six years of litigation . plaintiffs ' lawyers said the cost to ford would be as high as $ 2 . 7 billion .
myron levin
amr posts record loss in quarter
even though more americans are flying again , the airline industry continues to reel and its problems are expected to worsen this holiday season .
amr corp . , the parent of american airlines , the world ' s largest airline , posted a record loss for the third quarter , even after getting $ 508 million in federal financial aid .
although the number of passengers has kept growing each week since the sept . 11 attacks , about 20 % fewer people are flying .
less than a month before the busy thanksgiving weekend , american airlines says advance bookings for november are down 6 % from a year earlier .
meanwhile , the airlines are now reporting a little - noticed aspect of the government rescue package : they have to pay federal taxes on the cash grants .
james f . peltz
itc says imports hurt steel industry
the international trade commission ruled that foreign imports pose a serious threat to the domestic steel industry , paving the way for punitive sanctions that are likely to raise steel prices and intensify trade tensions with europe and asia .
the independent u . s . agency has until mid - december to provide the white house with a list of proposed remedies , which could include import quotas or hefty tariffs on foreign steel .
beleaguered u . s . steelmakers applauded the decision .
president bush , who instigated the itc investigation , is expected to approve the protective measures , though critics warn they could harm a weakened domestic economy and complicate efforts to launch a new round of global trade talks .
evelyn iritani
shares of enron plummet amid losses
enron corp . ' s stock was pummeled by investors following disclosures of losses and shrinking shareholders ' equity related to failed investments and a complicated hierarchy of limited partnerships used to shelter some enron assets .
the stock slide was compounded by disclosure of a securities and exchange commission inquiry into two of the partnership arrangements and by wall street worries about future cash flow and credit problems that might be caused by the investment vehicles .
two conference calls with analysts and investors failed to calm nerves , and several analysts lowered their recommendations on enron .
enron has reiterated that its finances are strong . and although analysts note that enron ' s core businesses remain sound , some analysts doubt that the usually taciturn company has revealed all of its problems .
to mollify investors , enron replaced its chief financial officer , who until recently headed the two partnerships the sec is eyeing .
nancy rivera brooks
pentagon oks northrop bid for newport news
northrop grumman corp . was all but assured of winning the bid to acquire newport news shipbuilding inc . as the pentagon endorsed the deal and the justice department , citing antitrust concerns , blocked a rival bid by general dynamics corp .
it marked a stunning turn of events for northrop , which got the nod to acquire the virginia builder of nuclear submarines and aircraft carriers despite having been the underdog .
the los angeles - based defense contractor made an unsolicited offer for newport news after the shipbuilder had inked a $ 2 . 1 - billion deal with general dynamics .
separately , northrop said third - quarter earnings fell 22 % because of a large drop in pension fund investments .
peter pae
hollywood production jobs fall to 4 - year low
skittishness following the sept . 11 terrorist attacks has exacerbated an already slow season in hollywood , pushing employment in the movie , television and film industry to a four - year low in september , state statistics show .
cutbacks and delayed projects by the major studios has trickled down through the industry , leading to a spate of layoffs at small companies that provide equipment and services for the industry .
meg james
grammy officials urge greene settlement
high - ranking officials at the grammy organization recommended a settlement of more than half a million dollars to resolve sexual assault and battery allegations against the nonprofit group ' s chief executive , c . michael greene , grammy sources said .
the proposed settlement , subject to approval by the group ' s board of directors , has ignited an internal revolt , with at least a dozen of the 41 trustees privately calling for greene ' s firing , the sources said .
greene declined to comment . attorneys for the grammy nonprofit group previously denied that greene assaulted or had any sexual contact with jill geimer , the grammy executive who has threatened to sue over greene ' s alleged misconduct .
chuck philips
emi ousts record label executive nancy berry
british music conglomerate emi group sacked nancy berry , the vice chairwoman of its worldwide virgin records division .
berry ' s exit came a week after the london - based record company ousted its global record chief , ken berry , who is nancy berry ' s former husband .
the shake - up follows a dispiriting period for emi , including a disastrous sales debut from pop icon mariah carey , who suffered a nervous breakdown months after signing an $ 80 - million contract with the company this year . nancy berry spearheaded the elaborate marketing campaign for carey ' s album , " glitter , " which has sold fewer than 400 , 000 copies since its sept . 11 debut .
jeff leeds
management buyout of g & l realty approved
stockholders of g & l realty corp . approved a management - led buyout of the real estate investment trust despite a higher offer by a rival group and concerns that the deal unfairly favors top executives .
the company ' s co - chairmen , daniel gottlieb and steven lebowitz , plan to take the small beverly hills - based company private after a majority of shareholders backed their $ 12 - a - share offer .
the management - led offer triggered a shareholder lawsuit this year that claimed g & l ' s board breached its fiduciary duty
jesus sanchez
internet archive turns back web pages of time
the nonprofit internet archive launched its so - called wayback machine , allowing web surfers to check out most internet sites that have vanished and older versions of sites that are still around .
the san francisco effort is the brainchild of brewster kahle , a millionaire technologist who wants to preserve the internet ' s ephemera for generations to come .
like many internet pioneers , however , kahle faces unfamiliar risks along with the opportunities : the archive might be the most massive violation of copyright law since ownership rights over words came into being .
more than 10 billion pages are available at http : / / web . archive . org .
joseph menn
job cuts , make - over in store for sears
sears , roebuck ; photographer : associated press ; photo : sears is cutting nearly 5 , 000 jobs and launching a new strategy . ; ; photographer : associated press ; photo : the reeling airline industry is expecting its problems to worsen . ; ; photographer : agence france - presse ; graphic : dimming power , los angeles times ;
copyright ? 2000 dow jones & company , inc . all rights reserved .
business
ralph bivins
devon energy makes building its own with major lease
ralph bivin
staff
10 / 28 / 2001
houston chronicle
2 star
10
( copyright 2001 )
houston is known as the " energy capital of the world . " and a glance around the downtown skyline proves the nickname is appropriate . houston skyscrapers bearing the names of enron , chevron , exxon and shell make significant contributions to the view .
now another name is being added to the downtown mix , enhancing the energy capital image even further . the 36 - story two allen center has been renamed devon energy tower .
devon energy has just signed a lease for 193 , 000 square feet of space , more than doubling its presence in the building , and as part of the deal , devon gets to put its name on the structure .
the lease also gives oklahoma city - based devon the right to take more space in the 1 million - square - foot building , at 1212 smith st .
devon recently announced its plans to acquire mitchell energy & development , but it will maintain mitchell ' s offices in the woodlands , said klay kimker , manager of office administration for devon .
kevin snodgrass and tim relyea of cushman & wakefield represented devon in the transaction . paul frazier and margaret sigur negotiated the deal on behalf of trizechahn office properties , the owner of the building .
trizechahn owns both the allen center and cullen center office complexes , a total of 6 million square feet of space in downtown . the trizechahn office space is nearly full right now , but enron will be vacating large amounts of space there next year when the nearby enron building is complete .
teamsters to build facilities
teamsters union officials are planning to build new headquarters facilities after the union sells its building on the katy freeway .
to replace the katy freeway building , the union expects to build two smaller structures near bush intercontinental airport to house different chapters , said a . w . parker , secretary treasurer of local 968 .
parker ' s group is expecting to build a 13 , 000 - square - foot building at ella boulevard at beltway 8 .
another teamsters group has purchased 4 . 5 acres on beltway 8 at diplomatic plaza drive , in the world houston business center . the land was purchased from the licha family trust . tony patronella and marc drumwright , both of southwest realty advisors , handled the sale .
chicago firm buying property
a chicago real estate investment firm is on a quest to acquire suburban office buildings in houston .
ml capital ventures has purchased two small office structures : the 71 , 736 - square - foot building at 5500 northwest central drive and the 66 , 338 - square - foot building at 5301 hollister . the building on northwest central drive is the headquarters of bj services energy company .
mike luecht , president of ml capital , said his firm will acquire two additional houston office buildings before the end of the year .
ml capital , which has been in business for eight months , will exceed luecht ' s initial plan to buy more than $ 22 million worth of suburban office space in houston in the company ' s start - up phase .
luecht said his firm was bullish on two types of real estate : buying warehouses in chicago and buying office buildings in suburban houston . houston ' s economy has been adding jobs and it is a promising market that is overlooked by many investors , luecht said . many investors have been too slow to forget the devastating meltdown of houston realty market in the 1980 s , luecht said .
in its most recent deal , ml ventures bought the 5500 northwest central building in partnership with avgeris & associates of chicago . tom bousquet of cb richard ellis brokered the deal .
woodlands opens new section
several $ 1 million home sites go up for sale this weekend as the woodlands opens a new section of its carlton woods gated community .
the premium lots will be facing the new jack nicklaus signature golf course .
custom lots will range in price from $ 150 , 000 to $ 1 million and range in size from one - fifth of an acre to two - and - three - fourths acres .
the carlton woods community is the first gated community in the woodlands and has been well received by upper - end home buyers , said paul lazzaro , vice president of marketing for the woodlands .
thirty - two homes are under construction in carlton woods and all of them are priced at more than $ 1 million .
a total of 208 lots have been sold in carlton woods , which opened about a year ago .
copyright ? 2000 dow jones & company , inc . all rights reserved .
india press : enron plans to exit lng shipping jv
10 / 28 / 2001
dow jones international news
( copyright ( c ) 2001 , dow jones dow jones newswires ; 91 - 11 - 461 - 9426 ; himendra . kumar @ dowjones . com
copyright ? 2000 dow jones section c
enron taps all its credit lines to buy back $ 3 . 3 billion of debt
by floyd norris
10 / 27 / 2001
the new york times
page 2 , column 5
c . 2001 new york times company
the enron corporation , trying to reassure investors that it has ample liquidity , began to repurchase all its outstanding commercial paper yesterday , using $ 3 . 3 billion it borrowed from banks by depleting its lines of credit .
an enron spokesman said that when the commercial paper repurchases are completed the company will retain more than $ 1 billion in cash .
the moves did not appear to reassure investors , as enron ' s share price fell to another six - year low . shares traded as low as $ 15 . 04 yesterday , before ending the day at $ 15 . 40 , down 95 cents .
the move will raise the interest expense for the company , because banks normally charge more than companies have to pay in the commercial paper market , and because its outstanding debt will rise by the additional $ 1 billion .
enron ' s debt is rated investment grade . but its bonds now trade below investment grade levels , although not so low that it appears investors fear an early default . but with the bonds trading so low , it is unlikely enron will be able to sell more commercial paper .
enron ' s stock has been plunging since oct . 17 , shortly after it disclosed that its third - quarter balance sheet , which has yet to be released , will show a $ 1 . 2 billion reduction in shareholder equity as a result of complicated transactions involving partnerships formerly controlled by andrew fastow , who was the company ' s chief financial officer until he was replaced on wednesday .
the stock has lost more than half its value since the earnings announcement , and the company has disclosed that the securities and exchange commission has asked questions about its accounting practices .
copyright ? 2000 dow jones & company , inc . all rights reserved .
companies & finance international - enron ' s bond prices drop to warning levels .
by robert clow , sheila mcnulty and jenny wiggins .
10 / 27 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron , the houston - based energy trading group , continued to pay a heavy price for its lack of financial transparency yesterday as its bond prices plummeted .
investor confidence in enron has declined sharply since the company announced a $ 1 . 2 bn reduction of shareholder equity stemming from a complex off - balance sheet structure . the securities and exchange commission has also launched an informal investigation into the company ' s finances .
enron ' s five - year bonds were trading yesterday at 77 cents in the dollar with a yield of 11 . 13 per cent , down from 83 cents on thursday . bond prices at these levels normally suggest that investors expect a company to file for bankruptcy .
late on thursday , enron announced that it would draw on its bank lines to buy back its outstanding commercial paper after two ratings agencies put the company on negative watch .
commercial paper financing , which normally has to be rolled every 90 days , is one of the first forms of financing to disappear in a crisis .
" what they want to do is assure their clients and other trading partners that they are creditworthy and continue with business , " said robin west , chairman of the petroleum finance company , the industry consultants . " in a situation like this , cash is king . "
enron ' s biggest immediate business risk is that its major trading counterparties , such as duke energy and reliant resources , start asking it for more collateral , increasing the cost of its everyday business .
if enron were downgraded to junk , the counterparties could do just that .
so far , credit rating analysts say , enron ' s core business is holding up well . but their actions over the past few days acknowledge that the company could still be severely damaged by the scandal .
enron has long faced criticism of its opaque financial reporting , but its most recent problems stem from the ljm private equity fund run by andy fastow , the company ' s former chief financial officer .
enron compensated its partners in this complex off - balance sheet structure by promising to give them enron shares , if the value of private equity investments in the new power company , technology and other things fell below a certain level .
those investments fell $ 1 . 2 bn in value from the threshold level , which should have triggered the issue of 62 m shares if the deal had not been reversed .
the complex deal was designed to make sure enron did not experience the same balance sheet volatility that jp morgan chase and others have suffered from marking their private equity investments to market .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
shorts - enron bond prices under pressure .
10 / 27 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron , the houston - based energy trading giant , continued to pay the price for financial opacity as its stock slumped to its lowest level since 1995 and its five - year bonds traded at 77 cents in the dollar with a yield of 11 . 13 per cent , down from 83 cents on thursday . bond prices at these levels normally suggest that investors expect a company to file for bankruptcy . page 10 .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones stock slides
10 / 27 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
houston ( ap ) - after enron corp . tapped into more than $ 3 billion in credit in an effort to boost confidence of investors and customers , stock prices dropped .
enron corp . ' s stock price hit its lowest point in more than five years friday . shares fell 95 cents on friday to $ 15 . 40 , a level not seen since 1995 , as analysts continued to muddle through a complicated series of bookkeeping issues revealed after the company ' s earnings announcement earlier this month .
the stock is down more than 50 percent in two weeks , and the company lost almost $ 14 billion in market value .
late this week the company decided to convert $ 3 billion in revolving credit it has through various banks into cash . the company put about $ 1 . 1 billion in the bank in an effort to reassure business partners and investors of its liquidity and is using the $ 2 . 2 billion balance to begin an orderly repurchase of a certain kind of short - term corporate iou known as commercial paper .
" nothing spells confidence quite like cash , which is what we want investors to understand , " said enron spokesman mark palmer of the $ 1 . 1 billion banked this week .
palmer could neither confirm nor deny that the company is negotiating further lines of credit with banks but described such actions as " good management decisions . "
on oct . 16 enron ' s third - quarter earnings release drew renewed attention to an issue investors and analysts had previously been unhappy about : then - chief financial officer andrew fastow , with the enron board ' s approval , had formed and run two investment partnerships that could have created a conflict of interest .
the partnerships , ljm cayman and ljm 2 co - investment , did complex financing and hedging deals with enron .
fastow had resigned from his roles in the partnerships months ago when wall street began to question whether he could watch out for the interests of enron ' s shareholders and the investment partnership simultaneously . but last week when the company reported a $ 35 million loss related to ending its ljm ties as well as a $ 1 . 2 billion reduction in shareholder equity , new questions began to arise .
the securities and exchange commission ' s division of enforcement launched an informal inquiry into the partnerships , and earlier this week fastow was put on a leave of absence .
reducing the company ' s debt exposure through commercial paper and putting it back into more traditional financial tools , like a revolving line of credit , could give great peace of mind to enron ' s investors , said anatol feygin , an analyst with j . p . morgan .
" it helps them shore up their support behind their energy trading business , which is really the core of their operations , " feygin told the houston chronicle for saturday ' s editions .
carol coale , an analyst with prudential securities , still sees the move as somewhat confusing .
" just last week they were touting their unused lines of credit as a plus , but the fact that they tapped those now sends a strange , mixed message , " she said . " do they need the cash to keep the rating agencies off their back ? is it a gesture for customers ? it first struck me as another one of these strangely timed actions on the part of management . "
copyright ? 2000 dow jones financial desk
enron decline continues
bloomberg news
10 / 27 / 2001
los angeles times
home edition
c - 2
copyright 2001 / the times mirror company
houston - - enron corp . bonds and shares fell after the largest energy trader tapped a $ 3 - billion credit line because it has been shut out of the leading market for low - interest , short - term loans .
the company ' s stock has fallen 54 % in the last 14 days after investors questioned its transactions with affiliates run by enron ' s former chief financial officer . the shares fell 95 cents , or 5 . 8 % , to $ 15 . 40 on the new york stock exchange .
investors said chief executive kenneth lay has failed to reassure them that the company ' s credit rating won ' t be cut . enron can no longer borrow in commercial paper markets , where short - term loans carry lower rates than banks offer .
" do they have the financial flexibility they once had ? no , " said john cassady , who helps manage $ 3 billion in bonds at fifth third bancorp . " people are questioning the credibility of management . "
the company will use its credit line to pay off $ 2 . 2 billion in commercial paper it has outstanding , enron spokesman mark palmer said .
the price of enron ' s 6 . 75 % bonds , which mature in 2009 , declined 11 / 2 points to a bid of 84 cents on the dollar and an offer of 86 cents . at that price , the bonds , which carry a rating of bbb + , yield 9 . 53 % .
investors have grown concerned that the firm ' s credit rating will be cut after $ 1 . 01 billion in third - quarter losses from failed investments . enron needs good credit to raise cash daily to keep trading partners from demanding collateral and to settle transactions .
enron ' s decision to tap its credit line was " a smart financial move , " said stephen moore of moody ' s investors service . " it took away the hassle and time - consuming nature of rolling commercial paper and insured access to capital . "
copyright ? 2000 dow jones stock slides / company says cash will boost confidence
tom fowler
staff
10 / 27 / 2001
houston chronicle
3 star
1
( copyright 2001 )
enron corp . ' s stock price hit its lowest point in more than five years friday after it tapped into more than $ 3 billion in revolving credit in an effort to re - assure investors and customers .
shares fell 95 cents on friday to $ 15 . 40 , a level not seen since 1995 , as analysts continued to muddle through a complicated series of bookkeeping issues revealed after the company ' s earnings announcement earlier this month . the stock is down more than 50 percent in two weeks , and the company lost almost $ 14 billion in market value .
late this week the company decided to convert $ 3 billion in revolving credit it has through various banks into cash . the company put about $ 1 . 1 billion in the bank in an effort to reassure business partners and investors of its liquidity and is using the $ 2 . 2 billion balance to begin an orderly repurchase of a certain kind of short - term corporate iou known as commercial paper .
" nothing spells confidence quite like cash , which is what we want investors to understand , " said enron spokesman mark palmer of the $ 1 . 1 billion banked this week .
palmer could neither confirm nor deny that the company is negotiating further lines of credit with banks but described such actions as " good management decisions . "
enron ' s most recent woes began oct . 16 when its third - quarter earnings release drew renewed attention to an issue investors and analysts had previously been unhappy about : then - chief financial officer andrew fastow , with the enron board ' s approval , had formed and run two investment partnerships that could have created a conflict of interest .
the partnerships , ljm cayman and ljm 2 co - investment , did complex financing and hedging deals with enron and were formed originally as a way to offset risks associated with some of the company ' s newer businesses such as broadband trading .
fastow had resigned from his roles in the partnerships months ago when wall street began to question whether he could watch out for the interests of enron ' s shareholders and the investment partnership simultaneously . but last week when the company reported a $ 35 million loss related to ending its ljm ties as well as a $ 1 . 2 billion reduction in shareholder equity , new questions began to arise .
the securities and exchange commission ' s division of enforcement launched an informal inquiry into the partnerships , and earlier this week fastow was put on a leave of absence .
now enron will begin repurchasing its commercial paper . this is a way for companies to raise money over a short period at rates that are usually slightly better than what banks offer , and often with more flexible terms .
" to some extent , redeeming the commercial paper is at the expense of the capital markets , which look at it negatively , " said anatol feygin , an analyst with j . p . morgan .
but reducing the company ' s debt exposure through commercial paper and putting it back into more traditional financial tools , like a revolving line of credit , could give great peace of mind to enron ' s investors , he said .
" it helps them shore up their support behind their energy trading business , which is really the core of their operations , " feygin said .
carol coale , an analyst with prudential securities , still sees the move as somewhat confusing .
" just last week they were touting their unused lines of credit as a plus , but the fact that they tapped those now sends a strange , mixed message , " she said . " do they need the cash to keep the rating agencies off their back ? is it a gesture for customers ? it first struck me as another one of these strangely timed actions on the part of management . "
jeff dietert , an analyst at simmons & co . , said enron management needs to continue to make clear the issues that have investors confused and concerned .
in a worst - case scenario , investor fears could create a vicious cycle that continues to drive the stock down , which would force bond rating agencies to consider downgrades of enron . that could lead to lower credit ratings , which would force enron ' s energy trading partners to limit their exposure to the company and cut back on business with it .
" thus , we see a big incentive for enron to clarify the issues , " dietert wrote in a report friday . " our gut feel is that enron can pull it off . "
feygin said he also believes the company will continue to do better in revealing its financial dealings but thinks there may be more surprises in store .
for example , a wall street journal article friday discussed for the first time another business entity with ties to enron known as chewco . it was formed in 1997 with about $ 400 million in financial backing to buy interests in unnamed enron assets .
chewco was run by michael kopper , a managing director of enron ' s global equity markets group .
copyright ? 2000 dow jones & company , inc . all rights reserved .
business
enron says microsoft breached contract
staff
10 / 27 / 2001
houston chronicle
3 star
2
( copyright 2001 )
enron corp . filed suit against microsoft corp . in state district court in houston this week , claiming the software giant breached a contract over a new high - speed internet service .
the companies entered into an agreement last june in which enron would provide internet bandwidth to microsoft as it rolled out its msn broadband service . enron ' s broadband network would link msn customers in over two dozen states , including texas .
qwest communications is providing the internet infrastructure in 14 other states for msn .
on oct . 23 , microsoft said that enron would have breached the contract if it didn ' t provide an operational bandwidth system by oct . 25 , according to bloomberg news . in the lawsuit , enron claims microsoft failed to deliver the ordering and billing system it needed to deliver its end of the project ' s first phase .
the lawsuit appears to be blocking the launch of the msn service in all but the 14 states served by qwest .
enron officials declined to comment . a microsoft spokesman said the company had not reviewed the filing but was " confident that we have upheld our agreement with enron . "
copyright ? 2000 dow jones section a
journal
how to lose a war
by frank rich
10 / 27 / 2001
the new york times
page 19 , column 2
c . 2001 new york times company
welcome back to sept . 10 .
the ' ' america strikes back ' ' optimism that surged after sept . 11 has now been stricken by the multitude of ways we ' re losing the war at home . the f . b . i . has proved more effective in waging turf battles against rudy giuliani than waging war on terrorism . of the more than 900 suspects arrested , exactly zero have been criminally charged in the world trade center attack ( though one has died of natural causes , we ' re told , in a new jersey jail cell ) . the bush team didn ' t fully recognize that a second attack on america had begun until more than a week after the first casualty . the most highly trumpeted breakthrough in the hunt for anthrax terrorists - - tom ridge ' s announcement that ' ' the site where the letters were mailed ' ' had been found in new jersey - - proved a dead end . and now the president is posing with elementary - school children again .
given that this is the administration that was touted as being run with c . e . o . clockwork , perhaps it should be added to the growing list of things that have changed forever since sept . 11 . but let ' s not be so hasty . not everything changes that fast - - least of all washington . the white house ' s home - front failures are not sudden , unpredictable products of wartime confusion but direct products of an ethos that has been in place since jan . 20 .
this is an administration that will let its special interests - - particularly its high - rolling campaign contributors and its noisiest theocrats of the right - - have veto power over public safety , public health and economic prudence in war , it turns out , no less than in peacetime . when anthrax struck , the administration ' s first impulse was not to secure as much cipro as speedily as possible to protect americans , but to protect the right of pharmaceutical companies to profiteer . the white house ' s faith in tax cuts as a panacea for all national ills has led to such absurdities as this week ' s house ' ' stimulus ' ' package showering $ 254 million on enron , the reeling houston energy company ( now under s . e . c . investigation ) that has served as a bush campaign cash machine .
airport security , which has been enhanced by at best cosmetic tweaks since sept . 11 , is also held hostage by campaign cash : as salon has reported , servicemaster , a supplier of the low - wage employees who ineptly man the gates , is another g . o . p . donor . not that republicans stand alone in putting fat cats first . in a display of bipartisanship , democrats - - lobbied by linda hall daschle , the senate majority leader ' s wife - - joined the administration in handing the airlines a $ 15 billion bailout that enforces no reduction in the salaries of the industry ' s c . e . o . ' s even as they lay off tens of thousands of their employees .
to see how the religious right has exerted its own distortions on homeland security , you also have to consider an administration pattern that goes back to its creation - - and one that explains the recent trials of poor tom ridge .
mr . ridge is by all accounts a capable leader - - a successful governor of a large state ( pennsylvania ) who won the bronze star for heroism in vietnam . a close friend of george w . bush , he should have been in the administration from the get - go , and was widely rumored to be a candidate for various jobs , including the vice presidency . but after being pilloried by the right because he supports abortion rights , he got zilch . instead of mr . ridge , the administration signed on the pro - life john ashcroft and tommy thompson - - who have brought us where we are today .
the farcical failures of these two cabinet secretaries are not merely those of public relations - - though mr . thompson often comes across as a chamber of commerce glad - hander who doesn ' t know his pants are on fire , and mr . ashcroft often shakes as if he ' s not just seen great caesar ' s ghost but perhaps john mitchell ' s as well . both have a history of letting politics override public policy that dates to the start of the administration . they ' ve seen no reason to reverse their partisan priorities even at a time when the patriotic duty of effectively fighting terror should be their no . 1 concern .
pre - sept . 11 , mr . thompson , in defiance of science , heartily lent his credibility to the bush administration ' s stem cell ' ' compromise ' ' by going along with its overstatement of the viability and diversity of the stem cell lines it would deliver to researchers . post - sept . 11 , he destroyed his credibility by understating the severity of the anthrax threat , also in defiance of science . now he maintains that the $ 1 . 5 billion the administration is requesting to plug the many holes in our public health system - - almost all of it earmarked for stockpiling pharmaceuticals , not shoring up local hospitals - - is adequate for fighting bioterrorism . this , too , is in defiance of all expert estimates , including that of the one physician in the senate , the republican bill frist .
it should also be on mr . thompson ' s conscience that for the first two weeks of the anthrax crisis he kept the federal government ' s house physician - - david satcher , the surgeon general and a much - needed honest broker of public health - - locked away , presumably because dr . satcher , a clinton appointee , became persona non grata in the bush administration for issuing a june report on teenage sexuality that angered the religious right . only after mr . ridge arrived on the scene was the surgeon general liberated from the gulag .
as for mr . ashcroft , he has gone so far as to turn away firsthand information about domestic terrorism for political reasons . planned parenthood , which has been on the front lines of anthrax scares for years and has by grim necessity marshaled the medical and security expertise to combat them , has sought a meeting with the attorney general since he took office but has never been granted one . this was true not only before sept . 11 but , says ann glazier , planned parenthood ' s director of security , remains true - - even though her organization , long targeted by such home - grown talibans as the army of god , has a decade ' s worth of leads on ' ' the convergence of international and domestic terrorism . ' '
ms . glazier found the sight of mr . ashcroft and other federal keystone kops offering a $ 1 million reward for anthrax terrorists a laughable indication of how little grasp they have of the enemy . ' ' religious extremists don ' t respond to money , ' ' she points out . such is the state of the f . b . i . , she adds , that one agent told a clinic to hold onto a suspect letter for a couple of days ' ' because we have so many here we ' re afraid we ' re going to lose it ' ' ( perhaps among the timothy mcveigh documents ) .
if either the attorney general or the secretary of health and human services inspired anything like the confidence that , say , mayor giuliani does , there wouldn ' t have been a need to draft mr . ridge . even so , he ' s mainly a p . r . gimmick - - a man who should have been in the administration in the first place reduced to serving as a fig leaf for lightweights . as director of homeland security , he ' s allegedly charged with supervising nearly 50 government agencies - - so far with roughly a dozen staff members . when asked to define mr . ridge ' s responsibilities , ari fleischer said on wednesday that it was ' ' a very busy coordination job , ' ' but so far mr . ridge is mainly sowing still more confusion .
the one specific duty that he has claimed - - in an interview with tom brokaw - - was that he ' d be the one ' ' making the phone call ' ' to the president to shoot down any commercial airliner turned into a flying bomb by hijackers . that presumably comes as news to donald rumsfeld , who made no provision for any homeland security czar in the air force chain of command he publicly codified days after mr . ridge ' s appointment .
since the administration tightly metes out the news from afghanistan , we can only hope that the war there is being executed more effectively than the war here - - even as mr . rumsfeld and his generals now tell us that the taliban , once expected to implode in days , are proving viet - cong - like in their intractability . the wall street journal also reported this week that ' ' instead of a thankful afghan population , popular support for the taliban appears to be solidifying and anger with the u . s . growing . ' '
maybe we ' re losing that battle for afghan hearts and minds in part because the bush state department appointee in charge of the propaganda effort is a c . e . o . ( from madison avenue ) chosen not for her expertise in policy or politics but for her salesmanship on behalf of domestic products like head & shoulders shampoo . if we can ' t effectively fight anthrax , i guess it ' s reassuring to know we can always win the war on dandruff .
drawing
copyright ? 2000 dow jones & company , inc . all rights reserved .
city - enron directors cash in shares .
by simon english .
10 / 27 / 2001
the daily telegraph
p 31
( c ) telegraph group limited , london , 2001
leading executives at enron , the troubled us energy giant , cashed in shares worth more than $ 100 m ( # 70 m ) this year in the run - up to a financial crunch that has left the company ' s credibility in ruins .
research by thomson financial shows that kenneth lay , chief executive , sold about 400 , 000 shares this year , netting him more than $ 25 m . he still held 2 . 8 m shares until july .
other executives made similar sales , a revelation likely to anger investors who have seen the shares fall from $ 83 at the start of the year to $ 45 by july . they halved again this week and fell to below $ 16 yesterday . enron declined to comment on the share sales .
mr lay said in a statement that he is seeking to " dispel uncertainty in the financial community " by drawing on lines of credit to restore faith in enron ' s financial strength . enron will pay off debts of $ 2 . 2 billion and keep another $ 800 , 000 in cash . he said : " we know we have our work cut out for us if we are to rebuild our credibility with the investment community . "
the company is facing an inquiry by the securities & exchange commission into partnerships managed by andrew fastow , former chief financial officer .
mr fastow was ousted on wednesday night as part of the company ' s moves to restore confidence , though enron insists he has done nothing wrong .
enron lost $ 1 billion in the third quarter on what it has called " failed investments " .
copyright ? 2000 dow jones & company , inc . all rights reserved .
india : lenders to meet over enron ' s dabhol on nov 3 .
10 / 27 / 2001
reuters english news service
( c ) reuters limited 2001 .
bombay , oct 27 ( reuters ) - lenders to power plant in india majority owned by enron corp have called a meeting next week in london to discuss ways of reviving the beleaguered project , a banking source said on saturday .
they will examine offers that two indian companies have put forward for buying the u . s . energy giant ' s 65 percent stake , and those of two other u . s . firms , in dabhol power company ( dpc ) , which is building the controversial project , the source told reuters .
the meeting of lenders , who include multinational banks such as citibank and bank of america , will be held on november 3 , the source added .
at stake is not just the fate of the $ 2 . 9 billion , 2 , 184 mw project , which is india ' s largest foreign direct investment , but also the over $ 600 million investment of enron , general electric co and bechtel .
all three companies are founders of dpc , which in 1995 got permission from india ' s maharashtra state government to set up the plant on its coast .
the plant ' s first phase of 740 mw was completed in 1999 , but work on the second phase of 1 , 444 mw , which is 97 percent complete , was abruptly stopped in june this year following a blazing row with cash - strapped state utility mseb .
mseb , which agreed in 1995 to take the plant ' s entire output , said it can no longer do so because dabhol ' s power is too costly .
dabhol , in turn , accused mseb of defaulting on its monthly payments and served a preliminary notice to terminate the power purchase contract .
under this notice , both companies are given six months time to settle the matter through negotiations . if talks fail , dabhol has the right to issue a final termination notice and take the matter to arbitration in london . that six month period expires on november 19 .
houston - based enron , which owns 65 percent of dabhol , further announced that it intends to exit the project and offered to sell its equity to the indian government .
time running out
the business standard newspaper reported that next week ' s meeting would also discuss a request by dabhol to finally terminate the contract after november 19 .
" it is one of the items on the agenda , " the paper quoted a senior banker as saying .
the paper said once dabhol serves the final notice , the matter proceeds to arbitration , which would not help india .
" the widespread view among the government and lenders is that in such a situation dpc will win hands down , " the paper added .
a dabhol spokesman could not be contacted immediately .
the source said the meeting would review the progress made in resolving the dispute so far .
the indian government has not responded to enron ' s offer to buy its equity , but two indian companies , bses ltd and tata power ltd , have shown interest .
they have agreed to take over the project if the cost is reduced , and if the founders agree to sell their stake at a discount .
local business daily , the economic times reported on friday that tata power and bses are willing to pay the founders $ 450 - $ 600 million for the 85 percent stake held by enron , ge and bechtel .
enron has rejected the offer and is not ready to settle for anything less than $ 1 billion , the paper added .
officials of tata power and bses were not immediately available for comment .
( $ 1 = 48 . 00 indian rupees ) .
copyright ? 2000 dow jones move could block high - speed service
the associated press , bloomberg news
10 / 27 / 2001
the seattle times
fourth
e 4
( copyright 2001 )
houston - - enron has sued microsoft , alleging it breached a contract for broadband services , in a move that could temporarily block the largest software company ' s msn high - speed internet service in some u . s . regions .
microsoft said the dispute temporarily blocks the company from providing the high - speed service in areas where enron provides broadband access , leaving msn fully operational only in the 14 states - - including washington - - where qwest communications international operates , said bob visse , director of marketing for msn .
enron ' s lawsuit was filed thursday , the same day microsoft had planned to offer fast internet access in 45 cities to give it access to potential customers in 29 million homes . microsoft , the no . 2 u . s . internet provider , is making a push to win customers from aol time warner .
" we are trying to resolve the issues with enron , as quickly as possible and at the same time we are evaluating other providers , " visse said .
enron spokeswoman karen denne declined to comment on the lawsuit , citing company policy on pending litigation . enron , based in houston , is the largest energy trader .
enron in june signed an agreement with microsoft to provide bandwidth for msn internet service . under the agreement , enron isn ' t required to deliver operational broadband services if microsoft hasn ' t first provided a billing and ordering system , dow jones news wire reported .
enron claims in its lawsuit that microsoft failed to deliver the ordering and billing system required in the initial phase of the deal , dow reported .
alternative browser - users denied microsoft entry
new york - - microsoft ' s premier web portal , msn . com , denied entry to millions of people who use alternative browser software such as opera and told them to get microsoft ' s products instead .
the decision led to complaints from the small but loyal opera community that microsoft was abusing its status as the internet ' s browser leader . microsoft later backed off and said yesterday that it would support the other browsers after all .
browser products affected by the shutout , which was triggered by a face - lift of the msn . com web site , included opera , mozilla and amaya , said kevin reichard , editorial manager for internet . com ' s browserwatch site .
mike pettit , president of procomp , an anti - microsoft group , urged state and federal investigators to look into the matter as part of its lawsuit accusing microsoft of anti - competitive practices .
- - the associated press
microsoftsf to shut down ; sony will run retail store
san francisco - - sony will take over a retail store it manages with microsoft next month , when the biggest software maker ' s xbox goes up against sony ' s playstation 2 in a contest for control of the $ 20 billion video - game market , a sony spokeswoman said .
the two companies agreed to shut down microsoftsf , a retail outlet in sony ' s san francisco metreon entertainment complex . it will be replaced with a digital solutions electronics store run by sony on thursday , metreon spokeswoman kirsten maynard said .
in april 1998 , the companies said they would open the store that displays and sells microsoft products alongside sony electronics that run the software . in march 2000 , microsoft announced the xbox , a game console with an advanced - graphics chip that goes on sale nov . 15 .
" a lot has changed with both companies , " maynard said . " it sort of became not - a - fit anymore . "
sony metreon won ' t carry the xbox or game cube , a new video console from nintendo that goes on sale nov . 19 , she said . officials at microsoft couldn ' t be reached for comment on the shutdown .
- - bloomberg news
copyright [ copyright ] seattle times company , all rights reserved . you must get permission before you reproduce any part of this material .
copyright ? 2000 dow jones & company , inc . all rights reserved . | 2001-10-29T00:00:00 |
31,764 | the original online source for market research global environmental energy corp . ( otc - bb : geec )
shares outstanding : 35 million
approx . float : 9 million
30 day target : $ 6 . 25
6 month price projection : $ 15 . 00
recent news and major share - price driving milestones :
geec just announced a $ 10 billion , 5 - year joint venture
with several companies operated by the chinese government .
geec uses their biosphere process system to convert various
types of waste into clean , " green " electricity at 5 to 10
mega - watts per hour .
geec chairman , former prime minister of ireland dr . albert
reynolds , has secured a $ 2 billion line of credit for geec
and opened doors in over a dozen countries through
political contacts at the highest level .
global environmental energy is cbs marketwatch . com ' s # 1 best
performer in the dj diversified industrials index in the last
2 months . this dow jones index also contains 3 m , ge , and
honeywell .
conservative estimates value the company at
one billion dollars
future milestones :
1 . geec had a $ 100 million backlog of sales orders for the
biosphere before the china joint - venture with 26 completed
biospheres in operation . the backlog is now into the billions
with complete financing to be provided by china and 1 , 300
biospheres to be deployed throughout the country .
2 . geec ' s present assets of $ 35 million will conservatively
jump into the $ 300 million range , a 10 - times increase .
3 . geec is in advanced stages of agreement on at least 6 major
international projects which could add $ 50 million to the
bottom - line or $ 1 . 42 per share .
4 . p / e on average for this industry group is 20 to 1 putting
geec in the $ 13 dollar range without any future business
expansion .
5 . geec is expected to file for a higher exchange listing and
continue to pay common stock and spin - off stock dividends .
worldwide market potential
$ 15 to $ 25 billion over next 5 years with no other known
company that can match their technology , leadership , or
explosive sales growth .
up until now geec has been one of wall street ' s best kept
secrets , yet now it seems the cat is coming out of the bag
and the release of this new investor awareness campaign
should be excellent timing in regards to some new pr ' s
forthcoming which will rocket geec . this power - play has
nowhere to go but up , according to most insiders , and there ' s
still a bit of time to get in before the boom .
disclosure : the information and opinions in this feature profile
are based on sources believed to be reliable but no representation
is made to its accuracy or completeness . past - results is not an
indicator of future - results . this report is a paid profile and is
for information purposes only and should not be used as the basis
for any investment decision . ten thousand dollars has been paid
for the preparation of this profile and for continuing coverage
of the featured company . we are not an investment advisor and
this profile is not to be considered investment advice . this
information is neither a solicitation to buy nor an offer to
sell securities . information herein contains forward - look - ing
statements and is subject to significant risks and uncertainties .
there are no shares held and there will be no participation in
the trading of shares of any profiled company . | 1 | spam | the original online source for market research | global environmental energy corp . ( otc - bb : geec )
shares outstanding : 35 million
approx . float : 9 million
30 day target : $ 6 . 25
6 month price projection : $ 15 . 00
recent news and major share - price driving milestones :
geec just announced a $ 10 billion , 5 - year joint venture
with several companies operated by the chinese government .
geec uses their biosphere process system to convert various
types of waste into clean , " green " electricity at 5 to 10
mega - watts per hour .
geec chairman , former prime minister of ireland dr . albert
reynolds , has secured a $ 2 billion line of credit for geec
and opened doors in over a dozen countries through
political contacts at the highest level .
global environmental energy is cbs marketwatch . com ' s # 1 best
performer in the dj diversified industrials index in the last
2 months . this dow jones index also contains 3 m , ge , and
honeywell .
conservative estimates value the company at
one billion dollars
future milestones :
1 . geec had a $ 100 million backlog of sales orders for the
biosphere before the china joint - venture with 26 completed
biospheres in operation . the backlog is now into the billions
with complete financing to be provided by china and 1 , 300
biospheres to be deployed throughout the country .
2 . geec ' s present assets of $ 35 million will conservatively
jump into the $ 300 million range , a 10 - times increase .
3 . geec is in advanced stages of agreement on at least 6 major
international projects which could add $ 50 million to the
bottom - line or $ 1 . 42 per share .
4 . p / e on average for this industry group is 20 to 1 putting
geec in the $ 13 dollar range without any future business
expansion .
5 . geec is expected to file for a higher exchange listing and
continue to pay common stock and spin - off stock dividends .
worldwide market potential
$ 15 to $ 25 billion over next 5 years with no other known
company that can match their technology , leadership , or
explosive sales growth .
up until now geec has been one of wall street ' s best kept
secrets , yet now it seems the cat is coming out of the bag
and the release of this new investor awareness campaign
should be excellent timing in regards to some new pr ' s
forthcoming which will rocket geec . this power - play has
nowhere to go but up , according to most insiders , and there ' s
still a bit of time to get in before the boom .
disclosure : the information and opinions in this feature profile
are based on sources believed to be reliable but no representation
is made to its accuracy or completeness . past - results is not an
indicator of future - results . this report is a paid profile and is
for information purposes only and should not be used as the basis
for any investment decision . ten thousand dollars has been paid
for the preparation of this profile and for continuing coverage
of the featured company . we are not an investment advisor and
this profile is not to be considered investment advice . this
information is neither a solicitation to buy nor an offer to
sell securities . information herein contains forward - look - ing
statements and is subject to significant risks and uncertainties .
there are no shares held and there will be no participation in
the trading of shares of any profiled company . | 2005-02-12T00:00:00 |
394 | wells daren , i think i may have lost my mind ( no comment vance ) but did i talk to
you about meter 6789 taking that volume from 12079 to 1200 . also yates has
averaged around the 3366 that they want to bring the volume down to . let me
know what you think . husker tom . | 0 | ham | wells | daren , i think i may have lost my mind ( no comment vance ) but did i talk to
you about meter 6789 taking that volume from 12079 to 1200 . also yates has
averaged around the 3366 that they want to bring the volume down to . let me
know what you think . husker tom . | 2000-03-02T00:00:00 |
17,838 | schedule crawler : hourahead failure start date : 1 / 22 / 02 ; hourahead hour : 1 ; hourahead schedule download failed . manual intervention required .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012201 . txt
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
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error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
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alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database | 0 | ham | schedule crawler : hourahead failure | start date : 1 / 22 / 02 ; hourahead hour : 1 ; hourahead schedule download failed . manual intervention required .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012201 . txt
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
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alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
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alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
error : dbcaps 97 data : cannot perform this operation on a closed database
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
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alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database | 2002-01-22T00:00:00 |
24,223 | = ? iso - 8859 - 1 ? q ? fw : _ cd _ nua _ do _ dhamhsa = ed _ ch = e 9 il = ed ? = - - - - - original message - - - - -
from : rathcairn
to : automail
script ; automail
script ; astraea @ iol . ie ; ?se tobin ; arabenl 6313168 @ hotmail . com ; aofarachain @ tinet . ie ; aofarachain @ eircom . net ; anthony
gorman ; ann - mari bergkvist ; annemarie meehan ; annemarie mcdonnell ; anne 7172 @ arabia . com ; anna
swelund ; anna ni thuama ; ann faherty
; anewloan @ mail . ru ; andy
plunkett ; andrew
delany ; andrea nic oscair ; an
fhiontarlann ; amurtagh @ tinet . ie ; amanda n?
ghuidhir ; als 2 @ hotmail . com ; alpha @ fun . 21 cn . com
; allen moira
; allen carberry ; alex _ doyle @ ie . ibm . com ; alan mcgowan ; alain
civel ; aishling n? raghallaigh ; ?ine m?ire n? choile?in ; aine
guilfoyle ; ailin . nichuir @ ucd . ie ; ail?n n?
h?g?in ; aileen
o ' meara , rte ; advisor @ physiciansblend . net ; adshwe @ bekkers . com . au ; adrian 28 @ esatclear . ie ; admin ; ade kallas ; adare productions ; abqewvbgf @ iinet . net . au ; aal 133777 @ yahoo . com ; a _ crothers @ looksmart . com . au ; 89 ok 7 yumhjn @ msn . com ; 12 unidiploma @ msn . com ; ogbvll 2 jf @ solvo . spb . su ; daithi mac carthaigh ; d 7596 @ go . ru ; d 23463 @ portugalmail . com
cc : 09886 w @ ams . com . br ; 0815 @ activate . de ; 01 bb 91 b 2 . 7 e 887960 @ genesys . pt ; 00 luke @ upline . se
sent : tuesday , may 21 , 2002 3 : 47 pm
subject : cd nua do dhamhsa? ch?il?
a chara ,
email gairid le cur in i?l duit faoi
dhl?thdhiosca nua at? ar f?il dona damhsa? ch?il? is coitianta i measc daoine
?ga .
t? ceol ar dona damhsa? seo a leanas
:
balla? luimn?
briseadh na carraige
baint an fh?ir
ionsa? na hinse
port an fh?mhair
cor na s?og
r?ic? mh?la
tonna? thora?
droichead ?tha luain
staic?n eorna
se?in?n
cor beirte
shoe the donkey
waltzes
agus eile
is f?idir an cd a cheannach tr?d www . damhsa . com
n? 086 8339082
le meas ,
brian ? broin | 1 | spam | = ? iso - 8859 - 1 ? q ? fw : _ cd _ nua _ do _ dhamhsa = ed _ ch = e 9 il = ed ? = | - - - - - original message - - - - -
from : rathcairn
to : automail
script ; automail
script ; astraea @ iol . ie ; ?se tobin ; arabenl 6313168 @ hotmail . com ; aofarachain @ tinet . ie ; aofarachain @ eircom . net ; anthony
gorman ; ann - mari bergkvist ; annemarie meehan ; annemarie mcdonnell ; anne 7172 @ arabia . com ; anna
swelund ; anna ni thuama ; ann faherty
; anewloan @ mail . ru ; andy
plunkett ; andrew
delany ; andrea nic oscair ; an
fhiontarlann ; amurtagh @ tinet . ie ; amanda n?
ghuidhir ; als 2 @ hotmail . com ; alpha @ fun . 21 cn . com
; allen moira
; allen carberry ; alex _ doyle @ ie . ibm . com ; alan mcgowan ; alain
civel ; aishling n? raghallaigh ; ?ine m?ire n? choile?in ; aine
guilfoyle ; ailin . nichuir @ ucd . ie ; ail?n n?
h?g?in ; aileen
o ' meara , rte ; advisor @ physiciansblend . net ; adshwe @ bekkers . com . au ; adrian 28 @ esatclear . ie ; admin ; ade kallas ; adare productions ; abqewvbgf @ iinet . net . au ; aal 133777 @ yahoo . com ; a _ crothers @ looksmart . com . au ; 89 ok 7 yumhjn @ msn . com ; 12 unidiploma @ msn . com ; ogbvll 2 jf @ solvo . spb . su ; daithi mac carthaigh ; d 7596 @ go . ru ; d 23463 @ portugalmail . com
cc : 09886 w @ ams . com . br ; 0815 @ activate . de ; 01 bb 91 b 2 . 7 e 887960 @ genesys . pt ; 00 luke @ upline . se
sent : tuesday , may 21 , 2002 3 : 47 pm
subject : cd nua do dhamhsa? ch?il?
a chara ,
email gairid le cur in i?l duit faoi
dhl?thdhiosca nua at? ar f?il dona damhsa? ch?il? is coitianta i measc daoine
?ga .
t? ceol ar dona damhsa? seo a leanas
:
balla? luimn?
briseadh na carraige
baint an fh?ir
ionsa? na hinse
port an fh?mhair
cor na s?og
r?ic? mh?la
tonna? thora?
droichead ?tha luain
staic?n eorna
se?in?n
cor beirte
shoe the donkey
waltzes
agus eile
is f?idir an cd a cheannach tr?d www . damhsa . com
n? 086 8339082
le meas ,
brian ? broin
| 2002-05-21T00:00:00 |
30,857 | do you want a watch ? http : / / ezs . nepel . com | 1 | spam | do you want a watch ? | http : / / ezs . nepel . com | 2004-12-19T00:00:00 |
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| 2005-01-01T00:00:00 |
23,432 | re : liquids limits oct . 20 risk ops . had problems loading the erac crude options spreadsheet and var
had to be recalc . twice to confirm the $ 12 . 7 mm violation . furthermore , we
had to scrub and confirm all positions with risk ops . before limits report
can be published .
christian
jeffrey a shankman @ ect
10 / 23 / 2000 03 : 27 pm
to : christian lebroc / corp / enron @ enron
cc : brent a price / hou / ect @ ect , sally beck / hou / ect @ ect , john l
nowlan / hou / ect @ ect , scott earnest / hou / ect @ ect , bjorn hagelmann / hou / ect @ ect
subject : re : liquids limits oct . 20
why did i not get this until 12 : 41 ?
from : christian lebroc @ enron 10 / 23 / 2000 12 : 41 pm
to : hugo moreira / lon / ect @ ect , david j botchlett / hou / ect @ ect , john l
nowlan / hou / ect @ ect , john chismar / sin / ect @ ect , john buckner
thomas / sin / ect @ ect , scott earnest / hou / ect @ ect , risk controls @ ect , mary
thambiah / lon / ect @ ect , oliver gaylard / lon / ect @ ect , bjorn
hagelmann / hou / ect @ ect , manfred roenz / corp / enron @ enron , lee
jackson / hou / ect @ ect , homan amiry / lon / ect @ ect , mark fondren / hou / ect @ ect , john
swinney / hou / ect @ ect , jeffrey a shankman / hou / ect @ ect , cindy horn / lon / ect @ ect ,
michelle bruce / hou / ect @ ect
cc :
subject : liquids limits oct . 20 | 0 | ham | re : liquids limits oct . 20 | risk ops . had problems loading the erac crude options spreadsheet and var
had to be recalc . twice to confirm the $ 12 . 7 mm violation . furthermore , we
had to scrub and confirm all positions with risk ops . before limits report
can be published .
christian
jeffrey a shankman @ ect
10 / 23 / 2000 03 : 27 pm
to : christian lebroc / corp / enron @ enron
cc : brent a price / hou / ect @ ect , sally beck / hou / ect @ ect , john l
nowlan / hou / ect @ ect , scott earnest / hou / ect @ ect , bjorn hagelmann / hou / ect @ ect
subject : re : liquids limits oct . 20
why did i not get this until 12 : 41 ?
from : christian lebroc @ enron 10 / 23 / 2000 12 : 41 pm
to : hugo moreira / lon / ect @ ect , david j botchlett / hou / ect @ ect , john l
nowlan / hou / ect @ ect , john chismar / sin / ect @ ect , john buckner
thomas / sin / ect @ ect , scott earnest / hou / ect @ ect , risk controls @ ect , mary
thambiah / lon / ect @ ect , oliver gaylard / lon / ect @ ect , bjorn
hagelmann / hou / ect @ ect , manfred roenz / corp / enron @ enron , lee
jackson / hou / ect @ ect , homan amiry / lon / ect @ ect , mark fondren / hou / ect @ ect , john
swinney / hou / ect @ ect , jeffrey a shankman / hou / ect @ ect , cindy horn / lon / ect @ ect ,
michelle bruce / hou / ect @ ect
cc :
subject : liquids limits oct . 20 | 2000-10-23T00:00:00 |
6,598 | re : american gas association mike ,
please , draft a message to js , dd and jl outlining the aga
benefits and costs . this will be their decision .
vince
from : mike a roberts 07 / 27 / 2000 09 : 10 am
to : vince j kaminski / hou / ect @ ect
cc :
subject : re : american gas association
vince - - -
this project is getting lost in the cracks
should we meet with dave delainy to get it off high center ? ?
- - - mike
- - - - - - - - - - - - - - - - - - - - - - forwarded by mike a roberts / hou / ect on 07 / 27 / 2000
09 : 08 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
elizabeth linnell @ ees
07 / 27 / 2000 08 : 41 am
to : mike a roberts / hou / ect @ ect
cc : richard shapiro / hou / ees @ ees
subject : re : american gas association
please see the string of messages below .
- - - - - - - - - - - - - - - - - - - - - - forwarded by elizabeth linnell / hou / ees on 07 / 27 / 2000
08 : 36 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
carolyn cooney @ enron
07 / 27 / 2000 08 : 35 am
to : elizabeth linnell / hou / ees @ ees
cc :
subject : re : american gas association
- - - - - - - - - - - - - - - - - - - - - - forwarded by carolyn cooney / corp / enron on 07 / 27 / 2000
09 : 44 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : allison navin 07 / 26 / 2000 05 : 23 pm
to : cynthia sandherr / corp / enron @ enron
cc : carolyn cooney / corp / enron @ enron
subject : re : american gas association
i actually called stan horton ' s office yesterday to find out if they knew
anything about the aga membership , and cindy stark who works with stan
informed me that stan cancelled our associate membership with aga effective
january , 2000 . i called jay copan with aga back and left him a voicemail
with the information . i asked him to call me if he had any questions and i
have not heard back from him . i ' ll considered it closed unless i hear back
from him .
from : cynthia sandherr 07 / 25 / 2000 08 : 08 pm
to : carolyn cooney / corp / enron @ enron
cc : allison navin / corp / enron @ enron
subject : re : american gas association
this is a joe hillings issue .
carolyn cooney
07 / 25 / 2000 11 : 01 am
to : allison navin / corp / enron @ enron
cc : cynthia sandherr / corp / enron @ enron
subject : re : american gas association
i believe that stan horton ' s office handled the dues for aga .
from : allison navin 07 / 25 / 2000 10 : 33 am
to : cynthia sandherr / corp / enron @ enron
cc : carolyn cooney / corp / enron @ enron
subject : american gas association
jay copan with american gas assn . called . julie caboose suggested that he
talk with you about enron ' s aga dues . ( he spoke to rick shapiro who said
that he has no knowledge of the dues situation ) . please call at 202 - 824 - 7020 . | 0 | ham | re : american gas association | mike ,
please , draft a message to js , dd and jl outlining the aga
benefits and costs . this will be their decision .
vince
from : mike a roberts 07 / 27 / 2000 09 : 10 am
to : vince j kaminski / hou / ect @ ect
cc :
subject : re : american gas association
vince - - -
this project is getting lost in the cracks
should we meet with dave delainy to get it off high center ? ?
- - - mike
- - - - - - - - - - - - - - - - - - - - - - forwarded by mike a roberts / hou / ect on 07 / 27 / 2000
09 : 08 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
elizabeth linnell @ ees
07 / 27 / 2000 08 : 41 am
to : mike a roberts / hou / ect @ ect
cc : richard shapiro / hou / ees @ ees
subject : re : american gas association
please see the string of messages below .
- - - - - - - - - - - - - - - - - - - - - - forwarded by elizabeth linnell / hou / ees on 07 / 27 / 2000
08 : 36 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
carolyn cooney @ enron
07 / 27 / 2000 08 : 35 am
to : elizabeth linnell / hou / ees @ ees
cc :
subject : re : american gas association
- - - - - - - - - - - - - - - - - - - - - - forwarded by carolyn cooney / corp / enron on 07 / 27 / 2000
09 : 44 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : allison navin 07 / 26 / 2000 05 : 23 pm
to : cynthia sandherr / corp / enron @ enron
cc : carolyn cooney / corp / enron @ enron
subject : re : american gas association
i actually called stan horton ' s office yesterday to find out if they knew
anything about the aga membership , and cindy stark who works with stan
informed me that stan cancelled our associate membership with aga effective
january , 2000 . i called jay copan with aga back and left him a voicemail
with the information . i asked him to call me if he had any questions and i
have not heard back from him . i ' ll considered it closed unless i hear back
from him .
from : cynthia sandherr 07 / 25 / 2000 08 : 08 pm
to : carolyn cooney / corp / enron @ enron
cc : allison navin / corp / enron @ enron
subject : re : american gas association
this is a joe hillings issue .
carolyn cooney
07 / 25 / 2000 11 : 01 am
to : allison navin / corp / enron @ enron
cc : cynthia sandherr / corp / enron @ enron
subject : re : american gas association
i believe that stan horton ' s office handled the dues for aga .
from : allison navin 07 / 25 / 2000 10 : 33 am
to : cynthia sandherr / corp / enron @ enron
cc : carolyn cooney / corp / enron @ enron
subject : american gas association
jay copan with american gas assn . called . julie caboose suggested that he
talk with you about enron ' s aga dues . ( he spoke to rick shapiro who said
that he has no knowledge of the dues situation ) . please call at 202 - 824 - 7020 . | 2000-07-27T00:00:00 |
25,396 | fca offrr hello , welcome to phar seethe monline sh klystron op
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11,419 | board of directors meeting - may 1 , 2001 please respond to kelly . johnson | 0 | ham | board of directors meeting - may 1 , 2001 | please respond to kelly . johnson | 2001-04-09T00:00:00 |
3,490 | brcc women ' s ministry meeting pictures - 09 - 17 - 2001 = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = ? easy unsubscribe click here : http : / / topica . com / u / ? a 84 vnf . a 9 ivhm or send an email to : brcc . yf - unsubscribe @ topica . com ? this email was sent to : dfarmer @ enron . com ? t o p i c a - - register now to manage your mail ! http : / / www . topica . com / partner / tago 2 / register = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = | 0 | ham | brcc women ' s ministry meeting pictures - 09 - 17 - 2001 | = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = ? easy unsubscribe click here : http : / / topica . com / u / ? a 84 vnf . a 9 ivhm or send an email to : brcc . yf - unsubscribe @ topica . com ? this email was sent to : dfarmer @ enron . com ? t o p i c a - - register now to manage your mail ! http : / / www . topica . com / partner / tago 2 / register = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = | 2001-09-17T00:00:00 |
7,088 | vince kaminski ' s itinerary - week of 9 / 30 - 10 / 7 / 00 professor martin :
attached is vince ' s itinerary . let me know if you need anything else .
- - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 09 / 27 / 2000
11 : 24 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
09 / 27 / 2000 10 : 45 am
to : " john d . martin " @ enron
cc : shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect
subject : re : hello vince
john ,
i shall be in paris and london next week . we can schedule a call sometimes
next week . i shall ask my assistant to send you my itinerary . a late call
( paris time )
would work for me . the time difference is 6 hours . this would mean a call
sometimes around 3 - 4 p . m . our time .
please , indicate which day works best for you .
vince
" john d . martin " on 09 / 27 / 2000 09 : 45 : 50 am
to : vince . j . kaminski @ enron . com
cc :
subject : re : hello vince
vince ,
good morning . unfortunately i ' ll be in milwaukee visiting harley - davidson
about a book revision project both thursday and friday . how about early
next week . i appreciate your patience with me . when you suggested a time
last week i was " unprepared " and embarassed to call and expose my
ignorance . since then i have re - read the enron gas services case and have
a pretty good feel for how you guys have melded the physical and financial
sides of the business . the other theme that i have heard many enron
speakers use is the " de - regulation " of markets . this certainly played a
factor in the power business and presumeably was behind the water business .
if you ' ll let me know when it ' s convenient to call next week i ' ll have some
notes put together . i ' m teaching a class for a colleague on monday so
anytime after that is great .
thanks and hope you had a pleasant trip .
john
p . s . i saw that the univ of new orleans has an energy finance endowed
chair for a financial economist open . if you ever decide to move back to
the life of poverty of an academic i would love to recommend you for such a
post .
at 08 : 26 am 9 / 27 / 00 - 0500 , you wrote :
>
> john ,
>
> what about thursday , 10 : 30 a . m . ? i have just come back from europe
> last night and i am trying to organize my schedule for the next few days .
>
> my phone number is 713 853 3848 .
>
>
> vince
>
>
>
>
>
>
> " john d . martin " on 09 / 22 / 2000 01 : 57 : 47 pm
>
> to : vkamins @ enron . com
> cc :
> subject : hello vince
>
>
> vince ,
>
> can i call you tuesday morning about our writing project ? i have to be in
> austin for a dental appointment on monday at noon and that will probably
> wipe out the day . give me a time and number where i can reach you .
>
> john
>
>
> john d . martin
> carr p . collins chair in finance
> finance department
> baylor university
> po box 98004
> waco , tx 76798
> 254 - 710 - 4473 ( office )
> 254 - 710 - 1092 ( fax )
> j _ martin @ baylor . edu
> web : http : / / hsb . baylor . edu / html / martinj / home . html
>
>
>
>
john d . martin
carr p . collins chair in finance
finance department
baylor university
po box 98004
waco , tx 76798
254 - 710 - 4473 ( office )
254 - 710 - 1092 ( fax )
j _ martin @ baylor . edu
web : http : / / hsb . baylor . edu / html / martinj / home . html | 0 | ham | vince kaminski ' s itinerary - week of 9 / 30 - 10 / 7 / 00 | professor martin :
attached is vince ' s itinerary . let me know if you need anything else .
- - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 09 / 27 / 2000
11 : 24 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
09 / 27 / 2000 10 : 45 am
to : " john d . martin " @ enron
cc : shirley crenshaw / hou / ect @ ect , vince j kaminski / hou / ect @ ect
subject : re : hello vince
john ,
i shall be in paris and london next week . we can schedule a call sometimes
next week . i shall ask my assistant to send you my itinerary . a late call
( paris time )
would work for me . the time difference is 6 hours . this would mean a call
sometimes around 3 - 4 p . m . our time .
please , indicate which day works best for you .
vince
" john d . martin " on 09 / 27 / 2000 09 : 45 : 50 am
to : vince . j . kaminski @ enron . com
cc :
subject : re : hello vince
vince ,
good morning . unfortunately i ' ll be in milwaukee visiting harley - davidson
about a book revision project both thursday and friday . how about early
next week . i appreciate your patience with me . when you suggested a time
last week i was " unprepared " and embarassed to call and expose my
ignorance . since then i have re - read the enron gas services case and have
a pretty good feel for how you guys have melded the physical and financial
sides of the business . the other theme that i have heard many enron
speakers use is the " de - regulation " of markets . this certainly played a
factor in the power business and presumeably was behind the water business .
if you ' ll let me know when it ' s convenient to call next week i ' ll have some
notes put together . i ' m teaching a class for a colleague on monday so
anytime after that is great .
thanks and hope you had a pleasant trip .
john
p . s . i saw that the univ of new orleans has an energy finance endowed
chair for a financial economist open . if you ever decide to move back to
the life of poverty of an academic i would love to recommend you for such a
post .
at 08 : 26 am 9 / 27 / 00 - 0500 , you wrote :
>
> john ,
>
> what about thursday , 10 : 30 a . m . ? i have just come back from europe
> last night and i am trying to organize my schedule for the next few days .
>
> my phone number is 713 853 3848 .
>
>
> vince
>
>
>
>
>
>
> " john d . martin " on 09 / 22 / 2000 01 : 57 : 47 pm
>
> to : vkamins @ enron . com
> cc :
> subject : hello vince
>
>
> vince ,
>
> can i call you tuesday morning about our writing project ? i have to be in
> austin for a dental appointment on monday at noon and that will probably
> wipe out the day . give me a time and number where i can reach you .
>
> john
>
>
> john d . martin
> carr p . collins chair in finance
> finance department
> baylor university
> po box 98004
> waco , tx 76798
> 254 - 710 - 4473 ( office )
> 254 - 710 - 1092 ( fax )
> j _ martin @ baylor . edu
> web : http : / / hsb . baylor . edu / html / martinj / home . html
>
>
>
>
john d . martin
carr p . collins chair in finance
finance department
baylor university
po box 98004
waco , tx 76798
254 - 710 - 4473 ( office )
254 - 710 - 1092 ( fax )
j _ martin @ baylor . edu
web : http : / / hsb . baylor . edu / html / martinj / home . html | 2000-09-27T00:00:00 |
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aprox . de la traducción de amorrortu $ 1000 ) lacan : todos los seminarios
( inclusive los ineditos que no se consiguen en el pais ) , escritos i y ii y otros
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* forgotten over 5 miliion customers
have a chemotherapy nice day ! | 2005-07-14T00:00:00 |
26,001 | claim your lucky winning . . . winning notification
from : the desk of the managing director international promotions / prize award department .
calle colone - 28080 madrid - spain
ref n? : epsl / 25003127 / csl / 02
batch n? : 0007571982
attn : winner ,
re : award notification / final notice .
we are pleased to inform you of the release of the results loteria primitiva / international program , held 25 th june 2005 your email address name attached to a ticket number 025 - 1146992 - 750 with serial number 2113 - 05 drew the lucky numbers 4 - 18 - 24 - 30 - 31 - 35 which consequently won the lottery in the 3 rd category . you have therefore been approved for a lump sum payout of 1 , 625 , 000 . 39 ( one million six hundred and twenty five thousand euros and thirty - nine cents ) in cash credited to the file reference number : epsl / 25003127 / csl / 02 . this is from a total cash price of 20 , 368 , 770 . 00 ( twenty million three hundred and sixty - eight thousand , seven hundred and seventy euros only ) shared among the seventeen international winners in this category .
congratulations ! ! !
your fund is now deposited with our correspondence bank insured to your name . due to the mix up of some numbers and names , we advice that you keep this award from public notice until your claiming or unwarranted taking advantage of this program by participants . all participants were selected through a computer ballot system drawn from 25 , 000 names from asia , australia , new zealand , africa , europe and north america as part of our international promotions program which we conduct once every year . we hope that with part of your prize , you will part - take in our end of year high stake 1 , 300 , 000 , 000 . 00 international lottery .
to begin your claim please contact your claim agent ,
super standard company
mr . william lopez
foreign services manager
email : superinsurance @ terra . es
tel : 0034 676799031
for processing and remittance of your prize fund into your designated bank account .
note : all prize funds must be claimed before the 29 th of july 2005 after this date all funds will be returned to the ministerio de economia y hacienda as unclaimed . in order to avoid unnecessary delays and complications , please endeavour to quote your reference and batch numbers in every correspondence with us to your claim agent . furthermore , should there be any change in your address do inform your claim agent as soon as possible . congratulation once again from all members of our staff and thank you for being part of our promotion program .
n . b . any breach of confidentiality on the part of the winners will result to disqualification . please do not reply to this email address . contact your claim agent .
best regards
mrs louisa santos
( the management ) | 1 | spam | claim your lucky winning . . . | winning notification
from : the desk of the managing director international promotions / prize award department .
calle colone - 28080 madrid - spain
ref n? : epsl / 25003127 / csl / 02
batch n? : 0007571982
attn : winner ,
re : award notification / final notice .
we are pleased to inform you of the release of the results loteria primitiva / international program , held 25 th june 2005 your email address name attached to a ticket number 025 - 1146992 - 750 with serial number 2113 - 05 drew the lucky numbers 4 - 18 - 24 - 30 - 31 - 35 which consequently won the lottery in the 3 rd category . you have therefore been approved for a lump sum payout of 1 , 625 , 000 . 39 ( one million six hundred and twenty five thousand euros and thirty - nine cents ) in cash credited to the file reference number : epsl / 25003127 / csl / 02 . this is from a total cash price of 20 , 368 , 770 . 00 ( twenty million three hundred and sixty - eight thousand , seven hundred and seventy euros only ) shared among the seventeen international winners in this category .
congratulations ! ! !
your fund is now deposited with our correspondence bank insured to your name . due to the mix up of some numbers and names , we advice that you keep this award from public notice until your claiming or unwarranted taking advantage of this program by participants . all participants were selected through a computer ballot system drawn from 25 , 000 names from asia , australia , new zealand , africa , europe and north america as part of our international promotions program which we conduct once every year . we hope that with part of your prize , you will part - take in our end of year high stake 1 , 300 , 000 , 000 . 00 international lottery .
to begin your claim please contact your claim agent ,
super standard company
mr . william lopez
foreign services manager
email : superinsurance @ terra . es
tel : 0034 676799031
for processing and remittance of your prize fund into your designated bank account .
note : all prize funds must be claimed before the 29 th of july 2005 after this date all funds will be returned to the ministerio de economia y hacienda as unclaimed . in order to avoid unnecessary delays and complications , please endeavour to quote your reference and batch numbers in every correspondence with us to your claim agent . furthermore , should there be any change in your address do inform your claim agent as soon as possible . congratulation once again from all members of our staff and thank you for being part of our promotion program .
n . b . any breach of confidentiality on the part of the winners will result to disqualification . please do not reply to this email address . contact your claim agent .
best regards
mrs louisa santos
( the management ) | 2005-06-29T00:00:00 |
26,614 | updates fri , 01 jul 2005 . subject : updates fri , 01 jul 2005 .
thank you for using our online store and for your previous order . we have updated our online software store ? ? now we have more latest version of programs . our
full catalog with 2100 freshest software titles available for instant download at
web - site http : / / galilee . tabloidez . com /
we hope that you will tell others about your positive experience with us .
with best wishes ,
managing director , . ceo
jordan gage
latest news :
square feet : a mall in decline eyes fish - market space
newsweek : rove s role in the cia leak case
http : / / www . msnbc . msn . com / id / 8438019 /
step - grandmother held in ore . boy ' s death
square feet : a mall in decline eyes fish - market space
http : / / www . msnbc . msn . com / id / 3034511 / | 1 | spam | updates fri , 01 jul 2005 . | subject : updates fri , 01 jul 2005 .
thank you for using our online store and for your previous order . we have updated our online software store ? ? now we have more latest version of programs . our
full catalog with 2100 freshest software titles available for instant download at
web - site http : / / galilee . tabloidez . com /
we hope that you will tell others about your positive experience with us .
with best wishes ,
managing director , . ceo
jordan gage
latest news :
square feet : a mall in decline eyes fish - market space
newsweek : rove s role in the cia leak case
http : / / www . msnbc . msn . com / id / 8438019 /
step - grandmother held in ore . boy ' s death
square feet : a mall in decline eyes fish - market space
http : / / www . msnbc . msn . com / id / 3034511 / | 2005-07-06T00:00:00 |
25,721 | your credit score has arrived rli 24881 alicia pkwy lagumar hills , ca 92653 this e - mail message is an advertisement and / or solicitation . | 1 | spam | your credit score has arrived | rli 24881 alicia pkwy lagumar hills , ca 92653 this e - mail message is an advertisement and / or solicitation .
| 2005-06-27T00:00:00 |
9,154 | news review update the news review site , http : / / www . news - review . co . uk
home of weekend city press review , now offers registered users two new
features :
all registered users can now :
- do a text search in addition to a company search on the full six - year
archive
- and set up favourite companies on their home page for easier and faster
access
to articles within the review and the archive which relate to those
companies
the best way to keep abreast of the weekend ' s financial news and views is to
receive an email copy of weekend city press review , either via the full
review ,
or the clippings relating to specific companies in which you are interested .
registered users are invited to take up the free offer of a 4 week
subscription
to any of the services , including pdf delivery of the review , and the
clippings service .
to login please use this url :
ype = login
you can download this weekend ' s full review free of charge at
http : / / www . news - review . co . uk / freepdf . pdf from 8 pm uk time this sunday
your username for this service is vkaminski
if you have forgotton your password you can retrieve it at
to remove yourself from this service please login and use the ' my profile '
option .
our ref wcprvl : vkaminski | 0 | ham | news review update | the news review site , http : / / www . news - review . co . uk
home of weekend city press review , now offers registered users two new
features :
all registered users can now :
- do a text search in addition to a company search on the full six - year
archive
- and set up favourite companies on their home page for easier and faster
access
to articles within the review and the archive which relate to those
companies
the best way to keep abreast of the weekend ' s financial news and views is to
receive an email copy of weekend city press review , either via the full
review ,
or the clippings relating to specific companies in which you are interested .
registered users are invited to take up the free offer of a 4 week
subscription
to any of the services , including pdf delivery of the review , and the
clippings service .
to login please use this url :
ype = login
you can download this weekend ' s full review free of charge at
http : / / www . news - review . co . uk / freepdf . pdf from 8 pm uk time this sunday
your username for this service is vkaminski
if you have forgotton your password you can retrieve it at
to remove yourself from this service please login and use the ' my profile '
option .
our ref wcprvl : vkaminski | 2001-04-20T00:00:00 |
3,769 | pphentermine can help you suppress your appetite and lose weight . . . fast ! buy x? . n?xmg 30 t?blets for only $ 119 . 95 37 % d?scount - overn?ght !
pphenterm?ne for we?ght loss [ ?ppet?te suppress?nt ] .
we got generjc vv??gr? 100 mg w?th 55 % s?v?ngs ( l?m?ted supply ?v??l?ble ) .
p?x?l . , ph 3 nterm?ne , 4 mb?en , l?p?tor , v?oxx , nex?om ?nd more . . . .
pr?ce ?ncludes ? free med?c?l consult?t?on .
% no consult?t?on !
% no sh?pp?ng ch?rge !
% no pr?or prescr?pt?on needed !
% no ?ppo?ntments !
% no w??t?ng rooms !
% no emb?r?ssment !
% pr?v?te conf?dent??l !
% d?screet p?ck?g?ng !
% huge s?v?ngs !
we sh?p your order 48 hours
f?rst comp?ny to ever b?ck ph?rm?ceut?c?ls w?th ? 100 % money b?ck gu?r?ntee . our gener?c ph?rm?ceut?c?ls ?re m?de ?n ? st?te - of - the - ?rt l?bor?tory us?ng the ex?ct s?me top - gr?de r?w ?ngred?ents ?s the n?me br?nds .
re m ove : http : / / buynow . meds 34 r . com / host / emailremove . asp
servitude campion calligraph
dater accuse
donnelly | 1 | spam | pphentermine can help you suppress your appetite and lose weight . . . fast ! | buy x? . n?xmg 30 t?blets for only $ 119 . 95 37 % d?scount - overn?ght !
pphenterm?ne for we?ght loss [ ?ppet?te suppress?nt ] .
we got generjc vv??gr? 100 mg w?th 55 % s?v?ngs ( l?m?ted supply ?v??l?ble ) .
p?x?l . , ph 3 nterm?ne , 4 mb?en , l?p?tor , v?oxx , nex?om ?nd more . . . .
pr?ce ?ncludes ? free med?c?l consult?t?on .
% no consult?t?on !
% no sh?pp?ng ch?rge !
% no pr?or prescr?pt?on needed !
% no ?ppo?ntments !
% no w??t?ng rooms !
% no emb?r?ssment !
% pr?v?te conf?dent??l !
% d?screet p?ck?g?ng !
% huge s?v?ngs !
we sh?p your order 48 hours
f?rst comp?ny to ever b?ck ph?rm?ceut?c?ls w?th ? 100 % money b?ck gu?r?ntee . our gener?c ph?rm?ceut?c?ls ?re m?de ?n ? st?te - of - the - ?rt l?bor?tory us?ng the ex?ct s?me top - gr?de r?w ?ngred?ents ?s the n?me br?nds .
re m ove : http : / / buynow . meds 34 r . com / host / emailremove . asp
servitude campion calligraph
dater accuse
donnelly
| 2004-02-04T00:00:00 |
17,615 | start date : 1 / 6 / 02 ; hourahead hour : 4 ; start date : 1 / 6 / 02 ; hourahead hour : 4 ; no ancillary schedules awarded . variances detected .
variances detected in load schedule .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002010604 . txt
- - - - load schedule - - - -
$ $ $ variance found in table tblloads .
details : ( hour : 4 / preferred : 12 . 63 / final : 12 . 60 )
trans _ type : final
load _ id : pge 4
mkt _ type : 2
trans _ date : 1 / 6 / 02
sc _ id : enrj | 0 | ham | start date : 1 / 6 / 02 ; hourahead hour : 4 ; | start date : 1 / 6 / 02 ; hourahead hour : 4 ; no ancillary schedules awarded . variances detected .
variances detected in load schedule .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002010604 . txt
- - - - load schedule - - - -
$ $ $ variance found in table tblloads .
details : ( hour : 4 / preferred : 12 . 63 / final : 12 . 60 )
trans _ type : final
load _ id : pge 4
mkt _ type : 2
trans _ date : 1 / 6 / 02
sc _ id : enrj | 2002-01-06T00:00:00 |
21,468 | congratulation ! ! ! global lottery international
via cavour 136 . 44100
ferrara , italia .
tel : 39 - 6133667121
fax : + 39 - 0532 - 775 - 822
ref . number : 132 / 756 / 4107
batch number : 538901537 - bb 67
sir / madam
we are pleased to inform you of the result of the lottery winners
international programs held on the 3 th of mar . 2005 . your e - mail address
attached to ticket number 27511465895 - 6410 with serial number 3772 - 510 drew lucky numbers 7 - 14 - 88 - 23 - 21 - 45 which consequently won in the lst category , you have therefore been approved for a lump sum pay out of
us $ 1 , 000 , 000 . 00 ( one million dollars ) congratulations ! ! !
due to mix up of some numbers and names , we ask that you keep your winning
information confidential until your claims has been processed and your money remitted to you . this is part of our security protocol to avoid double claiming and unwarranted abuse of this program by some participants . all participants were selected through a computer ballot system drawn from over 20 , 000 company and 30 , 000 , 000 individual email addresses and names from all over the world . this promotional program takes place every three years . this lottery was promoted and sponsored by presidents of the world largest softwares , we hope with part of your winning you will take part in our next year usd 50 million international lottery . to file for your claim , please contact our fiducial agent mr . van choice . of the global finance and trust agency .
fax : 0039 0532 - 775 - 822
email : lottorl 2345 @ netscape . net
remember , all winning must be claimed not later than 25 th mar . 2005 . after this date all unclaimed funds will be included in the next
stake . please note in order to avoid unnecessary delays and complications .
please remember to quote your reference number and batch numbers in all
correspondence . furthermore , should there be any change of address do
inform our agent as soon as possible .
congratulations once more from our members of staff and thank you for being part of our promotional program .
note : anybody under the age of 18 is automatically disqualified .
sincerely yours ,
mrs rossi edward .
lottery coordinator . | 1 | spam | congratulation ! ! ! | global lottery international
via cavour 136 . 44100
ferrara , italia .
tel : 39 - 6133667121
fax : + 39 - 0532 - 775 - 822
ref . number : 132 / 756 / 4107
batch number : 538901537 - bb 67
sir / madam
we are pleased to inform you of the result of the lottery winners
international programs held on the 3 th of mar . 2005 . your e - mail address
attached to ticket number 27511465895 - 6410 with serial number 3772 - 510 drew lucky numbers 7 - 14 - 88 - 23 - 21 - 45 which consequently won in the lst category , you have therefore been approved for a lump sum pay out of
us $ 1 , 000 , 000 . 00 ( one million dollars ) congratulations ! ! !
due to mix up of some numbers and names , we ask that you keep your winning
information confidential until your claims has been processed and your money remitted to you . this is part of our security protocol to avoid double claiming and unwarranted abuse of this program by some participants . all participants were selected through a computer ballot system drawn from over 20 , 000 company and 30 , 000 , 000 individual email addresses and names from all over the world . this promotional program takes place every three years . this lottery was promoted and sponsored by presidents of the world largest softwares , we hope with part of your winning you will take part in our next year usd 50 million international lottery . to file for your claim , please contact our fiducial agent mr . van choice . of the global finance and trust agency .
fax : 0039 0532 - 775 - 822
email : lottorl 2345 @ netscape . net
remember , all winning must be claimed not later than 25 th mar . 2005 . after this date all unclaimed funds will be included in the next
stake . please note in order to avoid unnecessary delays and complications .
please remember to quote your reference number and batch numbers in all
correspondence . furthermore , should there be any change of address do
inform our agent as soon as possible .
congratulations once more from our members of staff and thank you for being part of our promotional program .
note : anybody under the age of 18 is automatically disqualified .
sincerely yours ,
mrs rossi edward .
lottery coordinator .
| 2005-03-07T00:00:00 |
16,375 | lump sternal they ' re here is the the link to the website we talked about last week , we saved a lot
on our meds .
press here
thank you
harris jernigan | 1 | spam | lump sternal they ' re | here is the the link to the website we talked about last week , we saved a lot
on our meds .
press here
thank you
harris jernigan
| 2005-06-21T00:00:00 |
25,551 | are you ready to get it ? hello !
viagra is the # 1 med to struggle with mens ' erectile dysfunction .
like one jokes sais , it is stronq enouqh for a man , but made for a woman ; - )
ordering viaqra oniine is a very convinient , fast and secure way !
miilions of people do it daily to save their privacy and money
order here . . . | 1 | spam | are you ready to get it ? | hello !
viagra is the # 1 med to struggle with mens ' erectile dysfunction .
like one jokes sais , it is stronq enouqh for a man , but made for a woman ; - )
ordering viaqra oniine is a very convinient , fast and secure way !
miilions of people do it daily to save their privacy and money
order here . . .
| 2005-06-25T00:00:00 |
22,663 | japanese regulatory environment in the west , the relationship between regulators and businesses is based on
control ( and sometimes conflict - - somewhat like prison guard vs . inmates ) .
nevertheless , in japan , it has until recently been based on cooperation ( more
like a coach and team ) .
the japanese understand that this relationship may not be the best for the
nation as a whole and have begun changing it . this process is disconcerting
and has powerful emotions attached to it .
i thought you might find this article interesting , since it shows some of the
complexities inherent in this change that might not be readily apparent to
westerners .
regards ,
eugenio | 0 | ham | japanese regulatory environment | in the west , the relationship between regulators and businesses is based on
control ( and sometimes conflict - - somewhat like prison guard vs . inmates ) .
nevertheless , in japan , it has until recently been based on cooperation ( more
like a coach and team ) .
the japanese understand that this relationship may not be the best for the
nation as a whole and have begun changing it . this process is disconcerting
and has powerful emotions attached to it .
i thought you might find this article interesting , since it shows some of the
complexities inherent in this change that might not be readily apparent to
westerners .
regards ,
eugenio | 2000-03-03T00:00:00 |
12,143 | hot list update please see attached . | 0 | ham | hot list update | please see attached . | 2001-07-11T00:00:00 |
20,261 | vlagra - order online , low cost ! today ' s special :
v - i - a - g - r - a , retails for $ 15 , we sell for as low as $ 1 . 90 ! ! !
- private online ordering !
- world wide shipping !
- no prescription required ! !
check it out : http : / / icdfghabjm . good 4 her . info / ? eklabjmxtnqyizvtcdfgh
kleenex bootsracerx pearl bigman
bernie lauraangus sapphire basil sailor fun meow
paula valentin guess
bernie graphicblowfish wolverin irene
stormy laura concept
clipper scoobynikita naomi marvin
robinhoo larryltrumpet elliot theatre percy mortimer aylmer | 1 | spam | vlagra - order online , low cost ! | today ' s special :
v - i - a - g - r - a , retails for $ 15 , we sell for as low as $ 1 . 90 ! ! !
- private online ordering !
- world wide shipping !
- no prescription required ! !
check it out : http : / / icdfghabjm . good 4 her . info / ? eklabjmxtnqyizvtcdfgh
kleenex bootsracerx pearl bigman
bernie lauraangus sapphire basil sailor fun meow
paula valentin guess
bernie graphicblowfish wolverin irene
stormy laura concept
clipper scoobynikita naomi marvin
robinhoo larryltrumpet elliot theatre percy mortimer aylmer
| 2004-11-03T00:00:00 |
1,978 | my november real estate news update hi there ,
november is here and it is time to give thanks . as the year
is drawing to a close there is much to be thankful for .
thank you for your business and your continued support of my
business with referrals and support .
once again , i am having a drawing for a free turkey for your
thanksgiving dinner . write , phone , or e - mail me with your
entry by november 18 th , 2000 . your chances of winning are
excellent .
my new newsletter is now available from the hyperlinks
below . please check it out and i can answer any questions
you might have .
this month ' s issue includes topics such as :
. to stretch or not to stretch , that is the question
. pre - approval versus pre - qualification , is there a
difference .
. should i take my home off the market during the holidays
. is your neighborhood kid - friendly
. steel forges new role in home building
here is a link to my " november real estate update "
http : / / homeownernews . com / 24 / ionaalphonso
aol users :
click
here
i hope you enjoy the newsletter . i would welcome your
comments .
sincerely ,
iona alphonso
always in tune with your needs
oh , by the way . . . if you know of someone thinking about
buying or selling a home , please call me with their name and
number - thanks a million ! !
prudential , gary greene realtors
3910 fm 1960 west , suite 100
houston , texas 77068
voice mail : 281 - 857 - 2485 x 535
pager : 281 - 551 - 6549
office : 281 - 444 - 5140
fax : 281 - 444 - 0630
web site : http : / / www . ionaalphonso . com
resume : http : / / www . har . com / ionaalphonso
gary greene web site : http : / / www . garygreene . com
please view my monthly newsletter at
http : / / homeownernews . com / c / ionaalphonso | 0 | ham | my november real estate news update | hi there ,
november is here and it is time to give thanks . as the year
is drawing to a close there is much to be thankful for .
thank you for your business and your continued support of my
business with referrals and support .
once again , i am having a drawing for a free turkey for your
thanksgiving dinner . write , phone , or e - mail me with your
entry by november 18 th , 2000 . your chances of winning are
excellent .
my new newsletter is now available from the hyperlinks
below . please check it out and i can answer any questions
you might have .
this month ' s issue includes topics such as :
. to stretch or not to stretch , that is the question
. pre - approval versus pre - qualification , is there a
difference .
. should i take my home off the market during the holidays
. is your neighborhood kid - friendly
. steel forges new role in home building
here is a link to my " november real estate update "
http : / / homeownernews . com / 24 / ionaalphonso
aol users :
click
here
i hope you enjoy the newsletter . i would welcome your
comments .
sincerely ,
iona alphonso
always in tune with your needs
oh , by the way . . . if you know of someone thinking about
buying or selling a home , please call me with their name and
number - thanks a million ! !
prudential , gary greene realtors
3910 fm 1960 west , suite 100
houston , texas 77068
voice mail : 281 - 857 - 2485 x 535
pager : 281 - 551 - 6549
office : 281 - 444 - 5140
fax : 281 - 444 - 0630
web site : http : / / www . ionaalphonso . com
resume : http : / / www . har . com / ionaalphonso
gary greene web site : http : / / www . garygreene . com
please view my monthly newsletter at
http : / / homeownernews . com / c / ionaalphonso | 2000-11-05T00:00:00 |
8,399 | resume forwarded at request of brian mihura vince -
this is the resume i told you about
p
- - - - - forwarded by paula corey / enron communications on 01 / 29 / 01 03 : 37 pm - - - - -
mateog @ gofree . indigo . ie
01 / 29 / 01 02 : 58 pm
to : paula corey / enron communications @ enron communications
cc :
subject : resume forwarded at request of brian mihura
dear paula :
my name is matt gunning and i am a friend and former colleague of brian
mihura . brian mentioned that you would be interested in seeing my resume ,
which i have attached . if you have questions or need more information ,
please contact me . thank you for your consideration .
- attl . htm
- resumel . wps | 0 | ham | resume forwarded at request of brian mihura | vince -
this is the resume i told you about
p
- - - - - forwarded by paula corey / enron communications on 01 / 29 / 01 03 : 37 pm - - - - -
mateog @ gofree . indigo . ie
01 / 29 / 01 02 : 58 pm
to : paula corey / enron communications @ enron communications
cc :
subject : resume forwarded at request of brian mihura
dear paula :
my name is matt gunning and i am a friend and former colleague of brian
mihura . brian mentioned that you would be interested in seeing my resume ,
which i have attached . if you have questions or need more information ,
please contact me . thank you for your consideration .
- attl . htm
- resumel . wps | 2001-01-29T00:00:00 |
31,742 | re : impress your lady immediately . . .
http : / / www . discountherbals . biz / ? 52838 : a | 1 | spam | re : | impress your lady immediately . . .
http : / / www . discountherbals . biz / ? 52838 : a
| 2005-02-10T00:00:00 |
22,244 | seeking your consent for business transaction mr . duke abby .
dear friend ,
this mail may come to you as a surprise but i plead with you to patiently
read through it before making a decision whether to assist me or not .
i am mr . duke abby peters . i am the personal accountant to a national of
your country , who is an oil consultant / contractor with the nigerian mining
corporation , ( name deliberately with - held for now ) made a numbered time
( fixed ) deposit for twelve calendar months , valued at us $ 15 , 500 , 000 . 00
( fifteen million five hundred thousand dollars ) in a reputable bank in lagos
nigeria .
on june 6 , 2000 , my client , his wife and their three children were
involved in a car accident along airport road . all occupants of the vehicle
unfortunately lost their lives . since then i have made several enquiries to
your embassy and international trade missions to locate any of my customer
extended relatives this has also proved unsuccessful . after these several
unsuccessful attempts , to locate any member of his family hence i contacted
you .
i am contacting you to assist in repatriating the money and property left
behind by my client before they get confiscated or declared unserviceable by
the bank where this huge deposit were lodged . particularly , the
investigation department of the bank where the deceased had an account
valued us $ 15 , 500 , 000 . 00 ( fifteen million five hundred thousand dollars ) have
issued me a notice to provide the next of kin or have the account
confiscated within the next ten official working days .
since i have been unsuccessful in locating the relatives for over 3 years
now , i seek your consent to present you as the next of kin of the deceased
since you have the same last name , so that the proceeds of this account
valued at $ 15 . 5 million dollars can be paid to you and then you and me can
share the money 60 % to me and 40 % to you . i have all necessary informations
that can be used to back up any claim we may make . this money
( us $ 15 , 500 , 000 . 00 ) is still lying in the bank and the interest is being
rolled over with the principal sum at the end of each year . no one will ever
come forward to claim it . and according to laws of federal republic of
nigeria , at the expiration of 5 ( five ) years , the money will revert to the
ownership of the nigerian government if nobody applies to claim the fund .
all i require is your honest cooperation to enable us see this deal
through . i guarantee that this will be executed under a legitimate
arrangement that will protect you from any breach of the law . there is no
risk at all as all the paperwork for this transaction will be done by me and
you together due to my position as personal accountant officer to the
deceased , this will guarantee the successful execution of this
transaction . lf you are interested in giving the required assistance , kindly
reply this mail stating your telephone / fax numbers for further contact .
because of the secrecy surrounding this transaction , l suggest that you
contact me only via my private email : accountdepartment @ fnbankza . com
l am looking forward to a favorable reply from you soon . feel free to ask
any question in this regard .
yours faithfully ,
mr . duke abby peters . crie j? um email grtis com 300 mb visite
www . touaki . com < | 1 | spam | seeking your consent for business transaction | mr . duke abby .
dear friend ,
this mail may come to you as a surprise but i plead with you to patiently
read through it before making a decision whether to assist me or not .
i am mr . duke abby peters . i am the personal accountant to a national of
your country , who is an oil consultant / contractor with the nigerian mining
corporation , ( name deliberately with - held for now ) made a numbered time
( fixed ) deposit for twelve calendar months , valued at us $ 15 , 500 , 000 . 00
( fifteen million five hundred thousand dollars ) in a reputable bank in lagos
nigeria .
on june 6 , 2000 , my client , his wife and their three children were
involved in a car accident along airport road . all occupants of the vehicle
unfortunately lost their lives . since then i have made several enquiries to
your embassy and international trade missions to locate any of my customer
extended relatives this has also proved unsuccessful . after these several
unsuccessful attempts , to locate any member of his family hence i contacted
you .
i am contacting you to assist in repatriating the money and property left
behind by my client before they get confiscated or declared unserviceable by
the bank where this huge deposit were lodged . particularly , the
investigation department of the bank where the deceased had an account
valued us $ 15 , 500 , 000 . 00 ( fifteen million five hundred thousand dollars ) have
issued me a notice to provide the next of kin or have the account
confiscated within the next ten official working days .
since i have been unsuccessful in locating the relatives for over 3 years
now , i seek your consent to present you as the next of kin of the deceased
since you have the same last name , so that the proceeds of this account
valued at $ 15 . 5 million dollars can be paid to you and then you and me can
share the money 60 % to me and 40 % to you . i have all necessary informations
that can be used to back up any claim we may make . this money
( us $ 15 , 500 , 000 . 00 ) is still lying in the bank and the interest is being
rolled over with the principal sum at the end of each year . no one will ever
come forward to claim it . and according to laws of federal republic of
nigeria , at the expiration of 5 ( five ) years , the money will revert to the
ownership of the nigerian government if nobody applies to claim the fund .
all i require is your honest cooperation to enable us see this deal
through . i guarantee that this will be executed under a legitimate
arrangement that will protect you from any breach of the law . there is no
risk at all as all the paperwork for this transaction will be done by me and
you together due to my position as personal accountant officer to the
deceased , this will guarantee the successful execution of this
transaction . lf you are interested in giving the required assistance , kindly
reply this mail stating your telephone / fax numbers for further contact .
because of the secrecy surrounding this transaction , l suggest that you
contact me only via my private email : accountdepartment @ fnbankza . com
l am looking forward to a favorable reply from you soon . feel free to ask
any question in this regard .
yours faithfully ,
mr . duke abby peters . crie j? um email grtis com 300 mb visite
www . touaki . com < | 2005-07-08T00:00:00 |
26,436 | save your money buy getting this thing here you have not tried cialls yet ?
than you cannot even imagine what it is like to be a real man in bed !
the thing is that a great errrectlon is provided for you exactly when you want .
ciaiis has a iot of advantages over viaqra
- the effect lasts 36 hours !
- you are ready to start within just 10 minutes !
- you can mix it with alcohoi ! we ship to any country !
get it riqht now ! . | 1 | spam | save your money buy getting this thing here | you have not tried cialls yet ?
than you cannot even imagine what it is like to be a real man in bed !
the thing is that a great errrectlon is provided for you exactly when you want .
ciaiis has a iot of advantages over viaqra
- the effect lasts 36 hours !
- you are ready to start within just 10 minutes !
- you can mix it with alcohoi ! we ship to any country !
get it riqht now ! .
| 2005-07-04T00:00:00 |
5,487 | re : ed krapels absolutely - i can ' t find the previous email but it may have been lost during
the few days they moved my email box from london to houston - i know i had a
lot of lost emails - do you have his phone number and email and we can sort
out a password for a few days for him too .
louise
vince j kaminski
10 / 02 / 2000 22 : 15
to : louise kitchen / lon / ect @ ect
cc : vince j kaminski / hou / ect @ ect
subject : ed krapels
louise ,
some time ago i sent you a message regarding ed krapels . he is writing a book
on energy
commodity markets and would like to learn more about eol .
can you give him a call and chat with him for 10 minutes . he is a good
friend of enron and
it would be free ad for us .
vince | 0 | ham | re : ed krapels | absolutely - i can ' t find the previous email but it may have been lost during
the few days they moved my email box from london to houston - i know i had a
lot of lost emails - do you have his phone number and email and we can sort
out a password for a few days for him too .
louise
vince j kaminski
10 / 02 / 2000 22 : 15
to : louise kitchen / lon / ect @ ect
cc : vince j kaminski / hou / ect @ ect
subject : ed krapels
louise ,
some time ago i sent you a message regarding ed krapels . he is writing a book
on energy
commodity markets and would like to learn more about eol .
can you give him a call and chat with him for 10 minutes . he is a good
friend of enron and
it would be free ad for us .
vince | 2000-02-11T00:00:00 |
15,275 | reminder psychologists bottled overflowing
deeply bloomfield singers hepburn odder
hopkinsian reassembles stupidity
coolies picasso contingents
bolts room rods
uplink endicott epicurizes decked fawkes
pacify guenther familiarized pull lucas
wrapping intuition bites scorns tribe
recital work inconsiderately
- -
phone : 209 - 293 - 6250
mobile : 811 - 490 - 7346
email : julywarren @ comcast . net | 1 | spam | reminder | psychologists bottled overflowing
deeply bloomfield singers hepburn odder
hopkinsian reassembles stupidity
coolies picasso contingents
bolts room rods
uplink endicott epicurizes decked fawkes
pacify guenther familiarized pull lucas
wrapping intuition bites scorns tribe
recital work inconsiderately
- -
phone : 209 - 293 - 6250
mobile : 811 - 490 - 7346
email : julywarren @ comcast . net
| 2004-10-13T00:00:00 |
26,680 | wed , 06 jul 2005 12 : 56 : 29 - 0600 dear homeowner ,
you have been pre - approved for a $ 470 , 200 home loan at a 3 . 20 fixed rate .
this offer is being extended to you unconditionally and your credit is in no way a factor .
to take advantage of this limited time opportunity , all we ask is that you visit the link below and complete the 1 minute post approval form .
sincerely ,
jason phillips | 1 | spam | wed , 06 jul 2005 12 : 56 : 29 - 0600 | dear homeowner ,
you have been pre - approved for a $ 470 , 200 home loan at a 3 . 20 fixed rate .
this offer is being extended to you unconditionally and your credit is in no way a factor .
to take advantage of this limited time opportunity , all we ask is that you visit the link below and complete the 1 minute post approval form .
sincerely ,
jason phillips | 2005-07-06T00:00:00 |
3,148 | fw : fw : equistar 1373 for march daren - i won ' t be here on friday but tom acton will back me up .
megan parker keeps asking me for an answer - have you had a chance to decide what to do ?
thanks - julie
- - - - - original message - - - - -
from : parker , megan
sent : thursday , april 26 , 2001 8 : 34 am
to : kemp , juliann
subject : re : fw : equistar 1373 for march
have you heard from daren yet ? equistar won ' t pay the invoice until we bill it correctly . thanks for you help . i know it ' s bid week .
megan
from : juliann kemp / enron @ enronxgate on 04 / 25 / 2001 10 : 22 am
to : megan parker / corp / enron @ enron
cc :
subject : fw : equistar 1373 for march
i sent this to daren farmer - to give me direction for the missing gas volumes .
the deals went to ' 0 ' in sitara by the trader and amiee confirmed it for the following days . thanks - julie
- - - - - original message - - - - -
from : kemp , juliann
sent : wednesday , april 25 , 2001 10 : 18 am
to : farmer , daren j .
subject : equistar for march
march -
meter 1373
deal 165373 for 10 , 000 ( 3 rd , 4 th , 5 th ) total 310 , 000
deal 157572 for 5 , 000 ( 3 rd ) total 155 , 000
deal was taken to zero in sitara - equistar said it should of been kept whole for the whole month .
what do you want me to do so equistar can pay their invoice . thanks - julie | 0 | ham | fw : fw : equistar 1373 for march | daren - i won ' t be here on friday but tom acton will back me up .
megan parker keeps asking me for an answer - have you had a chance to decide what to do ?
thanks - julie
- - - - - original message - - - - -
from : parker , megan
sent : thursday , april 26 , 2001 8 : 34 am
to : kemp , juliann
subject : re : fw : equistar 1373 for march
have you heard from daren yet ? equistar won ' t pay the invoice until we bill it correctly . thanks for you help . i know it ' s bid week .
megan
from : juliann kemp / enron @ enronxgate on 04 / 25 / 2001 10 : 22 am
to : megan parker / corp / enron @ enron
cc :
subject : fw : equistar 1373 for march
i sent this to daren farmer - to give me direction for the missing gas volumes .
the deals went to ' 0 ' in sitara by the trader and amiee confirmed it for the following days . thanks - julie
- - - - - original message - - - - -
from : kemp , juliann
sent : wednesday , april 25 , 2001 10 : 18 am
to : farmer , daren j .
subject : equistar for march
march -
meter 1373
deal 165373 for 10 , 000 ( 3 rd , 4 th , 5 th ) total 310 , 000
deal 157572 for 5 , 000 ( 3 rd ) total 155 , 000
deal was taken to zero in sitara - equistar said it should of been kept whole for the whole month .
what do you want me to do so equistar can pay their invoice . thanks - julie | 2001-04-26T00:00:00 |
3,121 | calpine daily gas nomination >
ricky a . archer
fuel supply
700 louisiana , suite 2700
houston , texas 77002
713 - 830 - 8659 direct
713 - 830 - 8722 fax
- calpine daily gas nomination 1 . doc | 0 | ham | calpine daily gas nomination | >
ricky a . archer
fuel supply
700 louisiana , suite 2700
houston , texas 77002
713 - 830 - 8659 direct
713 - 830 - 8722 fax
- calpine daily gas nomination 1 . doc | 2001-04-24T00:00:00 |
11,029 | key hr issues going forward a ) year end reviews - report needs generating like mid - year documenting business unit performance on review completion - david to john ;
b ) work out or plan generation for the nim / issues employees - david to john ;
c ) hpl transition issues - ongoing .
officially transferred .
regards
delainey | 0 | ham | key hr issues going forward | a ) year end reviews - report needs generating like mid - year documenting business unit performance on review completion - david to john ;
b ) work out or plan generation for the nim / issues employees - david to john ;
c ) hpl transition issues - ongoing .
officially transferred .
regards
delainey | 2001-02-07T00:00:00 |
24,689 | special investor update . on january lst 2002 , the european countries began
using the new euro . never before have so
many countries with such powerful economies united
to use a single currency . get your piece of history
now ! we would like to send you a free euro
and a free report on world currency . just visit
our site to request your euro and euro report :
in addition to our currency report , you can receive
our free investment package :
* learn how $ 10 , 000 in options will leverage $ 1 , 000 , 000 in
euro currency . this means even a small movement in the market
has huge profit potential .
if you are over age 18 and have some risk capital , it ' s
important that you find out how the euro will
change the economic world and how you can profit !
click now ! http : / / www . information - depot . com / euroexchange /
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please carefully evaluate your financial position before
trading . only risk capital should be used .
http : / / www . information - depot . com / takemeoff / to optout . | 1 | spam | special investor update . | on january lst 2002 , the european countries began
using the new euro . never before have so
many countries with such powerful economies united
to use a single currency . get your piece of history
now ! we would like to send you a free euro
and a free report on world currency . just visit
our site to request your euro and euro report :
in addition to our currency report , you can receive
our free investment package :
* learn how $ 10 , 000 in options will leverage $ 1 , 000 , 000 in
euro currency . this means even a small movement in the market
has huge profit potential .
if you are over age 18 and have some risk capital , it ' s
important that you find out how the euro will
change the economic world and how you can profit !
click now ! http : / / www . information - depot . com / euroexchange /
$ 10 , 000 minimum investment
please carefully evaluate your financial position before
trading . only risk capital should be used .
http : / / www . information - depot . com / takemeoff / to optout . | 2002-08-03T00:00:00 |
32,720 | upward movement connects you to the insider ' s game yap international , inc . ( ypil )
voip technology requires no computer or high speed internet connection
for its dia | - up product .
current price : $ 0 . 10
watch this stock wednesday some of these little voip stocks have been
rea | | y moving lateiy .
and when some of them move , they rea | | y go . . . gains of loo % , 2 oo % or
more are
not unheard of .
break news ! !
yap internationa | , inc . identified another voip technology provider that the company intends to market and sell under the nomad product name . under the new plan , the company wil | market 7 voip ata devices , each addressing a specific and unique portion of the giobal marketplace . each device works with either a dial - up or a broadband connection , and are idealiy suited , not only in north america , but in deveioping nations around the world where broadband penetration is | imited or non - existent . the new " my nomad " product offering wil | offer video conferencing capabilities , call forwarding , call waiting , voice mai | , and a global virtua | number .
aiso included in the new offering is a residential standaione device that does not require a computer ; a usb ata device that requires no externa | power and works perfectly with any anaiog handset or pbx system ; a usb assistant that adds enhanced cail forwarding to any cel | phone or regular phone with remote dia | - out ( ceilular bridging capabiiity ) . a sieek voip enabled , fuil - featured lan phone with lcd display , caller id and web interface ; a residential or business stand alone voip gateway that has buiit - in nat router and firewail , enhanced cail forwarding , call block and remote dial - out ( ceilular bridging ) ; and a standaione voip gateway / pbx / router with four ports for medium size businesses . in addition , 4 voip enabied phones wiil be added to the product line . each voip enabled handset has the ability to utiiize either a dia | - up or broadband connection . included in the voip handset offering , is a wifi phone , including a usb cordless phone for home or office .
each sip based product requires a minimum of 15 kbps , and utiiizes only 5 % - 30 % of a 2 oo mhz , 32 mb , computer ' s resources and is not subject to delay or jitter . in direct comparison , skype requires a minimum of 45 % - 75 % of a 4 oo mhz , 128 mb computers resources and is subject to deiay and jitter due to end - users computer being used as a proxy server on the network . management believes this to be one of the most complete and technologicaily advanced line of voip products currently available in the worid .
our agreement with securities trading services inc . and the developments of the past months | eaves us with toois necessary to commercialize and market our products on a gioba | scale . we expect our milestones to be met and thus executing our business plan as anticipated ¡ ¨ , stated jan oiivier , ceo of yap internationa | inc .
about the company :
yap internationa | , inc . is a muiti - nationa | internet communications company developing cost effective teiecommunications through voice over internet protoco | ( voip ) technologies . the company hoids the exciusive rights to a revoiutionary voip product | ine cailed nomad systems that has dia | - up , broadband , dsl , cabie , satellite and wireless capabiiities . the company pians on targeting : 1 ) nationa | fixed line ii many of you are already famiiiar with this . is ypil poised and positioned to do that for you ? then you may feel the time has come to act . . . and please watch
this one trade wednesday ! go ypil .
penny stocks are considered highly speculative and may be unsuitable for all but very aggressive investors . this profiie is not in any way affiliated with the featured company . we were compensated 300 o doilars to distribute this report . this report is for entertainment and
advertising purposes only and shouid not be used as investment advice .
if you wish to stop future mailings , or if you fee | you have been
wrongfully placed in our membership , piease go here or send a blank
e mai | with no thanks in the subject to
noneedl 008 @ yahoo . com | 1 | spam | upward movement connects you to the insider ' s game | yap international , inc . ( ypil )
voip technology requires no computer or high speed internet connection
for its dia | - up product .
current price : $ 0 . 10
watch this stock wednesday some of these little voip stocks have been
rea | | y moving lateiy .
and when some of them move , they rea | | y go . . . gains of loo % , 2 oo % or
more are
not unheard of .
break news ! !
yap internationa | , inc . identified another voip technology provider that the company intends to market and sell under the nomad product name . under the new plan , the company wil | market 7 voip ata devices , each addressing a specific and unique portion of the giobal marketplace . each device works with either a dial - up or a broadband connection , and are idealiy suited , not only in north america , but in deveioping nations around the world where broadband penetration is | imited or non - existent . the new " my nomad " product offering wil | offer video conferencing capabilities , call forwarding , call waiting , voice mai | , and a global virtua | number .
aiso included in the new offering is a residential standaione device that does not require a computer ; a usb ata device that requires no externa | power and works perfectly with any anaiog handset or pbx system ; a usb assistant that adds enhanced cail forwarding to any cel | phone or regular phone with remote dia | - out ( ceilular bridging capabiiity ) . a sieek voip enabled , fuil - featured lan phone with lcd display , caller id and web interface ; a residential or business stand alone voip gateway that has buiit - in nat router and firewail , enhanced cail forwarding , call block and remote dial - out ( ceilular bridging ) ; and a standaione voip gateway / pbx / router with four ports for medium size businesses . in addition , 4 voip enabied phones wiil be added to the product line . each voip enabled handset has the ability to utiiize either a dia | - up or broadband connection . included in the voip handset offering , is a wifi phone , including a usb cordless phone for home or office .
each sip based product requires a minimum of 15 kbps , and utiiizes only 5 % - 30 % of a 2 oo mhz , 32 mb , computer ' s resources and is not subject to delay or jitter . in direct comparison , skype requires a minimum of 45 % - 75 % of a 4 oo mhz , 128 mb computers resources and is subject to deiay and jitter due to end - users computer being used as a proxy server on the network . management believes this to be one of the most complete and technologicaily advanced line of voip products currently available in the worid .
our agreement with securities trading services inc . and the developments of the past months | eaves us with toois necessary to commercialize and market our products on a gioba | scale . we expect our milestones to be met and thus executing our business plan as anticipated ¡ ¨ , stated jan oiivier , ceo of yap internationa | inc .
about the company :
yap internationa | , inc . is a muiti - nationa | internet communications company developing cost effective teiecommunications through voice over internet protoco | ( voip ) technologies . the company hoids the exciusive rights to a revoiutionary voip product | ine cailed nomad systems that has dia | - up , broadband , dsl , cabie , satellite and wireless capabiiities . the company pians on targeting : 1 ) nationa | fixed line ii many of you are already famiiiar with this . is ypil poised and positioned to do that for you ? then you may feel the time has come to act . . . and please watch
this one trade wednesday ! go ypil .
penny stocks are considered highly speculative and may be unsuitable for all but very aggressive investors . this profiie is not in any way affiliated with the featured company . we were compensated 300 o doilars to distribute this report . this report is for entertainment and
advertising purposes only and shouid not be used as investment advice .
if you wish to stop future mailings , or if you fee | you have been
wrongfully placed in our membership , piease go here or send a blank
e mai | with no thanks in the subject to
noneedl 008 @ yahoo . com | 2005-05-04T00:00:00 |
19,341 | be a " big " men ! locative our zenextend pen +
is enlargement p + ills
will expand , lengthen and en - large your pen + is 3 + inches .
100 % satisfaction guaranteed ! or your money back !
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create a pill that has been designed specifically for male pe + nis enlargement .
the tests that took place over a 2 year period showed that out of the 30 , 000
males from
around the world who participated , the average gain after 4 months of taking
zenextend
pills was 3 . 02 inches ! amazing , permanent
results that will last .
more info ? . . . go
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crewed ! wuhan , undertaker strung shrieks .
nomoremail ?
: ) | 1 | spam | be a " big " men ! locative | our zenextend pen +
is enlargement p + ills
will expand , lengthen and en - large your pen + is 3 + inches .
100 % satisfaction guaranteed ! or your money back !
a massive breakthrough
in he + rbal science has enabled a team of 20 specialized doctors to
create a pill that has been designed specifically for male pe + nis enlargement .
the tests that took place over a 2 year period showed that out of the 30 , 000
males from
around the world who participated , the average gain after 4 months of taking
zenextend
pills was 3 . 02 inches ! amazing , permanent
results that will last .
more info ? . . . go
here . . .
duane ! devolve , sorted stephan attainer .
crewed ! wuhan , undertaker strung shrieks .
nomoremail ?
: )
| 2004-07-13T00:00:00 |
16,318 | cialis is a life saveen hi !
we have a n - e - w product that we offer to you , c _ i _ a _ l _ i _ s soft tabs ,
clal 1 s soft tabs is the new impotencie treatment d - r - u - g that everyone is talking
about . soft tabs acts up to 36 hours , compare this to only two or three hours
of v - 1 - a - g - r - a action ! the active ingredient is tadalaf 11 , same as in brand c - 1 - a - l - i - s .
simply disolve half a pill under your tongue , 10 min before s - e - x , for the best
erections you ' ve ever had !
soft tabs also have less sidebacks ( you can drive or mix alcoh 0 l drinks with them ) .
http : / / katchemack . net / cs / ? yol 23
regards ,
andrew nixon
qeghhk
homgxqgg
nahh . . . i think i pass this time
http : / / zigzagging . net / rm . php ? yol 23
guvp
aedfap | 1 | spam | cialis is a life saveen | hi !
we have a n - e - w product that we offer to you , c _ i _ a _ l _ i _ s soft tabs ,
clal 1 s soft tabs is the new impotencie treatment d - r - u - g that everyone is talking
about . soft tabs acts up to 36 hours , compare this to only two or three hours
of v - 1 - a - g - r - a action ! the active ingredient is tadalaf 11 , same as in brand c - 1 - a - l - i - s .
simply disolve half a pill under your tongue , 10 min before s - e - x , for the best
erections you ' ve ever had !
soft tabs also have less sidebacks ( you can drive or mix alcoh 0 l drinks with them ) .
http : / / katchemack . net / cs / ? yol 23
regards ,
andrew nixon
qeghhk
homgxqgg
nahh . . . i think i pass this time
http : / / zigzagging . net / rm . php ? yol 23
guvp
aedfap | 2005-06-07T00:00:00 |
1,228 | re : cornhusker john ,
i did some preliminary work on your question concerning oil use at the
cleburne , texas plant . see the attached document .
i just answered all of your questions in an effort to save time . i ' m still
summarizing the procedures that are used for gas nominations . call me with
any questions .
michael mazowita
white pine energy , llc
phone : ( 248 ) 442 - 4823
fax : ( 248 ) 477 - 5729
cell : ( 248 ) 345 - 4002
john griffith
07 / 17 / 2000 10 : 03 am
to : garrick hill / hou / ect @ ect , mike mazowita / corp / enron @ enron
cc : eric moon / hou / ect @ ect
subject : cornhusker
rick and mike ,
when you talk to plant manager i have a few other questions regarding the
fuel oil .
1 ) what exact oil can they burn ? what sulphur content ?
2 ) how much oil is in storage at the plant ?
3 ) what is the storage capacity at the plant ?
4 ) are there any oil contracts at this time ?
5 ) how do they normally buy oil ?
6 ) how is the oil transported to the plant ?
7 ) are there any transport contracts for oil ?
8 ) what is the efficiency for the oil at the plant ?
9 ) what are the costs to burn oil ? any downtime due to this ? any costs to
switch ? time it takes to switch ?
10 ) what are the decisions that the plant goes through to decide to switch ?
11 ) what are the emission concerns ? are they long emission credits ? do
they get credits annually ? how many ?
12 ) does brazos have any control over burning oil vs . burning natural gas ?
13 ) can the plant run totally on oil ?
14 ) any costs to switch back to natural gas ?
please let me know if you need anything from me . thanks .
john | 0 | ham | re : cornhusker | john ,
i did some preliminary work on your question concerning oil use at the
cleburne , texas plant . see the attached document .
i just answered all of your questions in an effort to save time . i ' m still
summarizing the procedures that are used for gas nominations . call me with
any questions .
michael mazowita
white pine energy , llc
phone : ( 248 ) 442 - 4823
fax : ( 248 ) 477 - 5729
cell : ( 248 ) 345 - 4002
john griffith
07 / 17 / 2000 10 : 03 am
to : garrick hill / hou / ect @ ect , mike mazowita / corp / enron @ enron
cc : eric moon / hou / ect @ ect
subject : cornhusker
rick and mike ,
when you talk to plant manager i have a few other questions regarding the
fuel oil .
1 ) what exact oil can they burn ? what sulphur content ?
2 ) how much oil is in storage at the plant ?
3 ) what is the storage capacity at the plant ?
4 ) are there any oil contracts at this time ?
5 ) how do they normally buy oil ?
6 ) how is the oil transported to the plant ?
7 ) are there any transport contracts for oil ?
8 ) what is the efficiency for the oil at the plant ?
9 ) what are the costs to burn oil ? any downtime due to this ? any costs to
switch ? time it takes to switch ?
10 ) what are the decisions that the plant goes through to decide to switch ?
11 ) what are the emission concerns ? are they long emission credits ? do
they get credits annually ? how many ?
12 ) does brazos have any control over burning oil vs . burning natural gas ?
13 ) can the plant run totally on oil ?
14 ) any costs to switch back to natural gas ?
please let me know if you need anything from me . thanks .
john | 2000-07-20T00:00:00 |
5,114 | congratulations ! ! ! you have won . national postcode international lottery and promotions .
afdeling ledenservice
van eeghenstraat 70
1071 gk amsterdam
from : the desk of the managing director
international promotion / prize award dept ,
scfn : gwk / 5333 / 025648 / 03 uad .
batch : 241 / 2002 / bll .
attn :
we are pleased to inform you of the release today the 11 th of august 2005 , of the national postcode international lottery / promotions , netherlands held on the 3 rd of june 2005 .
your email address attached to the ticket no : 1001 - 58255563 - 2285 with serial no : 8888 / 03 drew from the lucky no : 02 - 22 - 00 - 66 - 99 - 85 - 52 - 12 - 36 - 50 , which consequently won the lottery in the first category .
you have therefore been approved for a lump sum pay out of five hundred thousand united state dollars ( us $ 500 , 000 . 00 ) in cash credited to security file number gwk / 5333 / 025648 / 03 uad . this is from a total cash prize of us $ 2 million share among four individuals in this category .
congratulations ! ! ! .
your funds is now deposited with our payment / finance department in the security company to your name , due to the mixed up of some numbers and names , we ask that you keep this winning a top secret from the public notice until your claims has been processed and remitted to your account as this is apart of the security protocol , to avoid double claiming or unwarranted taking advantage of this program by participants .
all participants were selected through a computer ballot system drawn from the 100 , 000 company / individal email addresses from all over the world as part of our international promotions program , which we conduct every decade .
we hope with a part of winnings , you will take part in our end of year stake usd $ 20 million international lottery program .
to begin your claims , please contact your claim agent and send the information below :
tel / fax numbers .
serial / secuirity file numbers .
your full house address .
a scan copy of your valid identity .
email address .
find below the contact of your claim agent .
national postcode loterij agency :
mr . philip ruddy ( director of operations ) .
tel : 0031 - 617 - 780 - 746
fax : 0031 - 847 - 546 - 866
email : claimagentol @ netscape . net
for processing and remittance of your cash to a designated account of your choice . remember , all winnings must be claim not later than on the 30 th of august , 2005 . after this date , all unclaimed funds will be returned to the promotion company .
be informed , all international winners or non nederlands citizen winners must pay the sum of [ 750 euro seven hundred and fifty euro ] for the processments of their winning price , because you are not a citizens of the nederlands .
note : in order to avoid unnecessary delays and complications , please remember to quote your security credicted file number and batch numbers respectively in every correspondence with your claim agent .
furthermore , should there be any change of your address , do inform your claim agent as soon as possible .
congratulations once again from all members of our staff and thank you for being part of our promotions program .
yours sincerely ,
mrs van roy ,
( promotion manager ]
check - out go . com
go get your free go e - mail account with expanded storage of 6 mb !
http : / / mail . go . com | 1 | spam | congratulations ! ! ! you have won . | national postcode international lottery and promotions .
afdeling ledenservice
van eeghenstraat 70
1071 gk amsterdam
from : the desk of the managing director
international promotion / prize award dept ,
scfn : gwk / 5333 / 025648 / 03 uad .
batch : 241 / 2002 / bll .
attn :
we are pleased to inform you of the release today the 11 th of august 2005 , of the national postcode international lottery / promotions , netherlands held on the 3 rd of june 2005 .
your email address attached to the ticket no : 1001 - 58255563 - 2285 with serial no : 8888 / 03 drew from the lucky no : 02 - 22 - 00 - 66 - 99 - 85 - 52 - 12 - 36 - 50 , which consequently won the lottery in the first category .
you have therefore been approved for a lump sum pay out of five hundred thousand united state dollars ( us $ 500 , 000 . 00 ) in cash credited to security file number gwk / 5333 / 025648 / 03 uad . this is from a total cash prize of us $ 2 million share among four individuals in this category .
congratulations ! ! ! .
your funds is now deposited with our payment / finance department in the security company to your name , due to the mixed up of some numbers and names , we ask that you keep this winning a top secret from the public notice until your claims has been processed and remitted to your account as this is apart of the security protocol , to avoid double claiming or unwarranted taking advantage of this program by participants .
all participants were selected through a computer ballot system drawn from the 100 , 000 company / individal email addresses from all over the world as part of our international promotions program , which we conduct every decade .
we hope with a part of winnings , you will take part in our end of year stake usd $ 20 million international lottery program .
to begin your claims , please contact your claim agent and send the information below :
tel / fax numbers .
serial / secuirity file numbers .
your full house address .
a scan copy of your valid identity .
email address .
find below the contact of your claim agent .
national postcode loterij agency :
mr . philip ruddy ( director of operations ) .
tel : 0031 - 617 - 780 - 746
fax : 0031 - 847 - 546 - 866
email : claimagentol @ netscape . net
for processing and remittance of your cash to a designated account of your choice . remember , all winnings must be claim not later than on the 30 th of august , 2005 . after this date , all unclaimed funds will be returned to the promotion company .
be informed , all international winners or non nederlands citizen winners must pay the sum of [ 750 euro seven hundred and fifty euro ] for the processments of their winning price , because you are not a citizens of the nederlands .
note : in order to avoid unnecessary delays and complications , please remember to quote your security credicted file number and batch numbers respectively in every correspondence with your claim agent .
furthermore , should there be any change of your address , do inform your claim agent as soon as possible .
congratulations once again from all members of our staff and thank you for being part of our promotions program .
yours sincerely ,
mrs van roy ,
( promotion manager ]
check - out go . com
go get your free go e - mail account with expanded storage of 6 mb !
http : / / mail . go . com
| 2005-08-11T00:00:00 |
10,288 | looking for a specific medication ? let us know what you need ! healthy living for everyday life .
we rarely confide in those who are better than we are .
the words that enlighten the soul are more precious than jewels .
ignore the awful times , and concentrate on the good ones .
man is free in his imagination , but bound by his reason . | 1 | spam | looking for a specific medication ? let us know what you need ! | healthy living for everyday life .
we rarely confide in those who are better than we are .
the words that enlighten the soul are more precious than jewels .
ignore the awful times , and concentrate on the good ones .
man is free in his imagination , but bound by his reason . | 2005-06-28T00:00:00 |
7,524 | interviewing for the associate and analyst programs the off - cycle department of the associate and analyst program is looking for
volunteer interviewers for the following dates :
thursday , november 9 th from 9 : 00 a . m - 12 : 00 p . m
thursday , november 16 th from 9 : 00 a . m . - 12 : 00 p . m .
thursday , december 7 th from 9 : 00 a . m . - 1 : 00 p . m .
over 50 candidates will be interviewing over these 3 days . the candidates
will be a combination of associates and analysts representing schools such as
princeton , harvard , university of north carolina , notre dame , university of
illinois , emory and many others . each candidate will have 4 interviews .
pending the outcome of their interviews we will invite them to stay and
attend super saturday that weekend . if for some reason we decide not to
further pursue the candidate , we will fly them home that friday morning .
also there will be continental breakfast at from 7 : 45 a . m . to 8 : 45 a . m . ( for
all three dates ) and a luncheon from 12 : 30 p . m . - 2 : 00 p . m . ( on nov . 9 and
nov . 16 th ) , the lunch will be at 1 : 30 for the dec . 7 th . interviewers are
welcome to attend both the breakfast and the lunch on their interviewing
date . the interviewing , breakfast and lunch will take place at the
doubletree hotel downtown .
we are asking enron employees associate ( associates who have been with the
program for at least one year ) level or higher to volunteer at least one
hour to interview candidates ( this will be 2 interviews ) . if you can
volunteer for more than an hour or for more than just one of the stated
dates , that would be great ! your help is needed ! please contact my
assistant , cathy lira , at cathy . lira @ enron . com or x 54049 as soon as possible ,
if you can volunteer any time for interviewing .
if you have any questions please do not hesitate to contact me .
once again , thanks ,
althea
althea p . gordon , jd
recruiter
associate & analyst programs | 0 | ham | interviewing for the associate and analyst programs | the off - cycle department of the associate and analyst program is looking for
volunteer interviewers for the following dates :
thursday , november 9 th from 9 : 00 a . m - 12 : 00 p . m
thursday , november 16 th from 9 : 00 a . m . - 12 : 00 p . m .
thursday , december 7 th from 9 : 00 a . m . - 1 : 00 p . m .
over 50 candidates will be interviewing over these 3 days . the candidates
will be a combination of associates and analysts representing schools such as
princeton , harvard , university of north carolina , notre dame , university of
illinois , emory and many others . each candidate will have 4 interviews .
pending the outcome of their interviews we will invite them to stay and
attend super saturday that weekend . if for some reason we decide not to
further pursue the candidate , we will fly them home that friday morning .
also there will be continental breakfast at from 7 : 45 a . m . to 8 : 45 a . m . ( for
all three dates ) and a luncheon from 12 : 30 p . m . - 2 : 00 p . m . ( on nov . 9 and
nov . 16 th ) , the lunch will be at 1 : 30 for the dec . 7 th . interviewers are
welcome to attend both the breakfast and the lunch on their interviewing
date . the interviewing , breakfast and lunch will take place at the
doubletree hotel downtown .
we are asking enron employees associate ( associates who have been with the
program for at least one year ) level or higher to volunteer at least one
hour to interview candidates ( this will be 2 interviews ) . if you can
volunteer for more than an hour or for more than just one of the stated
dates , that would be great ! your help is needed ! please contact my
assistant , cathy lira , at cathy . lira @ enron . com or x 54049 as soon as possible ,
if you can volunteer any time for interviewing .
if you have any questions please do not hesitate to contact me .
once again , thanks ,
althea
althea p . gordon , jd
recruiter
associate & analyst programs | 2000-11-06T00:00:00 |
11,047 | fw : elektro short presentation - - - - - original message - - - - -
from : gonzalez , orlando
sent : tuesday , february 13 , 2001 12 : 06 pm
to : lavorato , john ; mcdonald , rebecca
cc : delainey , david ; hughes , james ; kishkill , joe ; wiggs , brett ; joao . carlos . albuquerque @ enron . com ; lotavio @ elektro . com . br
subject : elektro short presentation
attached is a summary of the current status of the elektro rfp as well as a review of the free customer data . we currently have two possible offers coming in the next day . we are working on the other options with eletrobolt , rio gen or petrobras as suppliers . i will call to discuss .
- - - - - - - - - - - - - - - - - - - - - - forwarded by orlando gonzalez / sa / enron on 13 / 02 / 2001 14 : 44 - - - - - - - - - - - - - - - - - - - - - - - - - - -
joao carlos albuquerque
13 / 02 / 2001 14 : 05
to : orlando gonzalez / sa / enron @ enron , joe kishkill / sa / enron @ enron
cc : joao carlos albuquerque / sa / enron @ enron , luis henriques / sa / enron @ enron , brett r wiggs / sa / enron @ enron
subject : elektro short presentation
orlando ,
find attached a summary of elektro short status , a draft of the rfp and a presentation on elektro ' s free and potentially free customers .
jo ? o carlos | 0 | ham | fw : elektro short presentation | - - - - - original message - - - - -
from : gonzalez , orlando
sent : tuesday , february 13 , 2001 12 : 06 pm
to : lavorato , john ; mcdonald , rebecca
cc : delainey , david ; hughes , james ; kishkill , joe ; wiggs , brett ; joao . carlos . albuquerque @ enron . com ; lotavio @ elektro . com . br
subject : elektro short presentation
attached is a summary of the current status of the elektro rfp as well as a review of the free customer data . we currently have two possible offers coming in the next day . we are working on the other options with eletrobolt , rio gen or petrobras as suppliers . i will call to discuss .
- - - - - - - - - - - - - - - - - - - - - - forwarded by orlando gonzalez / sa / enron on 13 / 02 / 2001 14 : 44 - - - - - - - - - - - - - - - - - - - - - - - - - - -
joao carlos albuquerque
13 / 02 / 2001 14 : 05
to : orlando gonzalez / sa / enron @ enron , joe kishkill / sa / enron @ enron
cc : joao carlos albuquerque / sa / enron @ enron , luis henriques / sa / enron @ enron , brett r wiggs / sa / enron @ enron
subject : elektro short presentation
orlando ,
find attached a summary of elektro short status , a draft of the rfp and a presentation on elektro ' s free and potentially free customers .
jo ? o carlos
| 2001-02-14T00:00:00 |
3,775 | communion chimique genuric ciilis ( apyalis ) , at rock - bottom prgces .
most places charge $ 20 , while we charge only $ 5 .
quite a difference .
ciayis is known as a super - vcagra or weekend - viaara because its effects start sooner and last much lopger .
shilped worldwide .
your easy - to - use solution is here :
entwr here
unsvbscxibe
irishman await bang colgate honk pistol ga scoria fix emasculate heptane controllable macedonia blowup dewitt eigenstate cotty byproduct failure altruist major hermann cit diagnosis armonk entourage haiku jigging lager eminent kraut chlordane guiana inseminate
physik bleach photolysis electrocardiograph conqueror kochab ambrosia jacm engineer circumspect horny freeing fulsome ambulatory intimal direct honey beowulf osborn preference infirmary enthalpy kinesic glenda connally got mesmeric precess casserole jacqueline serology deaconess hewn cater astringent oberlin klaxon
rumple evoke hospital creepy buchanan mcdougall debenture limerick dexterity alphabet hobart
impudent palazzo phenylalanine maximilian mason pathetic bernie languid ascription congeal freud loire hutch quadripartite delilah reel guam deck diamagnetic kodachrome bucknell fourier angeline plagiarist befuddle consequential armistice embryology construct
gorge extraordinary bewail current otto river playroom agnostic flute dossier huber least mush edna entertain helmut erratum bacilli scription purview hank inoculate eng illegitimate hobart
nihilist becalm beheld promptitude desolater engage pascal pixel exceed financier cagey discretion gab enviable scabbard girdle ceremonious dis corey faulty millstone incest alundum her fatima micrography madagascar eigenvalue punish library cattail downtrend bradford bought fondle nectary puckish draftsman egregious hermetic
astonish eucalyptus grille finnegan sailboat appendices hereunto furtherance ecole declare galvanometer crump inseminate emissivity
barrow howe determinate grecian cambric inattention crotch cochlea salmonella dock madman mcelroy bye finland geese mueller frye diurnal acerbic component excavate
hyde migratory bilingual averse imbue benefit career hotrod pyramid fend karate iroquois erskine carboxylic infatuate postgraduate aides
gleason roadway cyclist grip basket anthropology groggy concessionaire cancerous checkbook psychoanalyst screw | 1 | spam | communion chimique | genuric ciilis ( apyalis ) , at rock - bottom prgces .
most places charge $ 20 , while we charge only $ 5 .
quite a difference .
ciayis is known as a super - vcagra or weekend - viaara because its effects start sooner and last much lopger .
shilped worldwide .
your easy - to - use solution is here :
entwr here
unsvbscxibe
irishman await bang colgate honk pistol ga scoria fix emasculate heptane controllable macedonia blowup dewitt eigenstate cotty byproduct failure altruist major hermann cit diagnosis armonk entourage haiku jigging lager eminent kraut chlordane guiana inseminate
physik bleach photolysis electrocardiograph conqueror kochab ambrosia jacm engineer circumspect horny freeing fulsome ambulatory intimal direct honey beowulf osborn preference infirmary enthalpy kinesic glenda connally got mesmeric precess casserole jacqueline serology deaconess hewn cater astringent oberlin klaxon
rumple evoke hospital creepy buchanan mcdougall debenture limerick dexterity alphabet hobart
impudent palazzo phenylalanine maximilian mason pathetic bernie languid ascription congeal freud loire hutch quadripartite delilah reel guam deck diamagnetic kodachrome bucknell fourier angeline plagiarist befuddle consequential armistice embryology construct
gorge extraordinary bewail current otto river playroom agnostic flute dossier huber least mush edna entertain helmut erratum bacilli scription purview hank inoculate eng illegitimate hobart
nihilist becalm beheld promptitude desolater engage pascal pixel exceed financier cagey discretion gab enviable scabbard girdle ceremonious dis corey faulty millstone incest alundum her fatima micrography madagascar eigenvalue punish library cattail downtrend bradford bought fondle nectary puckish draftsman egregious hermetic
astonish eucalyptus grille finnegan sailboat appendices hereunto furtherance ecole declare galvanometer crump inseminate emissivity
barrow howe determinate grecian cambric inattention crotch cochlea salmonella dock madman mcelroy bye finland geese mueller frye diurnal acerbic component excavate
hyde migratory bilingual averse imbue benefit career hotrod pyramid fend karate iroquois erskine carboxylic infatuate postgraduate aides
gleason roadway cyclist grip basket anthropology groggy concessionaire cancerous checkbook psychoanalyst screw | 2004-02-07T00:00:00 |
8,723 | re : fwd : invitation to the 20 th annual rutgers conference vince ,
i am delighted that you accept our invitation . we hope it works out that you
can attend the whole conference as we are confident that you will find the
program stimulating and will enjoy getting to know our participants . the
pleasure will certainly be mutual . you will bring a new and different
perspective from which we can all benefit .
michael
at 05 : 54 pm 3 / 15 / 01 est , vkaminski @ aol . com wrote :
> > > >
paul ,
thank you for the invitation to speak at the eastern conferences on
regulation and competition on may the 25 th . i shall be glad to attend and
make an after dinner presentation . i hope to be able to attend the entire
conference .
sorry for a delay in responding to your message . i have been traveling
extensively in the last few weeks .
vince return - path :
from : vkaminski @ aol . com
full - name : vkaminski
message - id :
date : thu , 15 mar 2001 17 : 04 : 02 est
subject : fwd : invitation to the 20 th annual rutgers conference
to : vkaminski @ aol . com
mime - version : 1 . 0
content - type : multipart / mixed ; boundary = " part 2 _ 70 . 8 aeecl 9 . 27 e 29652 _ boundary "
x - mailer : aol 6 . 0 for windows us sub 10501
return - path :
received : from rly - yho 3 . mx . aol . com ( rly - yho 3 . mail . aol . com [ 172 . 18 . 147 . 35 ] )
by air - yho 3 . mail . aol . com ( v 77 _ rl . 21 ) with esmtp ; fri , 09 mar 2001 18 : 01 : 27
- 0500
received : from postmaster . enron . com ( outbound 5 . enron . com [ 192 . 152 . 140 . 9 ] ) by
rly - yho 3 . mx . aol . com ( v 77 _ rl . 21 ) with esmtp ; fri , 09 mar 2001 18 : 01 : 01 - 0500
received : from mailman . enron . com ( mailman . enron . com [ 192 . 168 . 189 . 66 ] )
by postmaster . enron . com ( 8 . 8 . 8 / 8 . 8 . 8 / postmaster - 1 . 00 ) with esmtp id xaao 2258
for ; fri , 9 mar 2001 23 : 00 : 59 gmt
from : vince . j . kaminski @ enron . com
received : from nahou - msmswo 3 px . corp . enron . com ( [ 172 . 28 . 10 . 39 ] )
by mailman . enron . com ( 8 . 10 . 1 / 8 . 10 . 1 / corp - 1 . 05 ) with esmtp id f 29 noxp 22494
for ; fri , 9 mar 2001 17 : 00 : 59 - 0600 ( cst )
received : from ene - mtaol . enron . com ( unverified ) by
nahou - msmswo 3 px . corp . enron . com
( content technologies smtprs 4 . 1 . 5 ) with esmtp id for ;
fri , 9 mar 2001 17 : 01 : 07 - 0600
subject : invitation to the 20 th annual rutgers conference
to : vkaminski @ aol . com
date : fri , 9 mar 2001 17 : 00 : 58 - 0600
message - id :
x - mimetrack : serialize by router on ene - mtaol / enron ( release 5 . 0 . 6 | december
14 , 2000 ) at
03 / 09 / 2001 04 : 58 : 03 pm
mime - version : 1 . 0
content - type : text / plain ; charset = us - ascii
x - mailer : unknown ( no version )
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 09 / 2001
05 : 01 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" kleindorfer , paul " on 03 / 08 / 2001 03 : 41 : 21
pm
to : " ' vkamins @ enron . com ' "
cc : " ' mcrew @ andromeda . rutgers . edu ' "
subject : invitation to the 20 th annual rutgers conference
vince :
for two decades now , i have been a member of the faculty helping to
organize the eastern conferences on regulation and competition that michael
crew of rutgers has chaired . this year will be , in fact , the 20 th
anniversary conference and a number of notable personages will be joining
us to celebrate what we have learned and what we haven ' t about the
economics of network industries . fred kahn , al philipps , bill hogan and a
number of other distinguished academics will be reviewing our progress and
the prospects for the future . the conference will take place at a
beautiful site in the poconos , about 90 minutes north of philadelphia , from
wednesday afternoon may 24 th to friday afternoon may 26 th . you can check
for yourself the nature of the program and the conference site / hotel at the
following website url :
http : / / www . rci . rutgers . edu / ~ crri / ws . htm
michael crew and i would both be delighted if you would be willing to be an
after dinner speaker on thursday evening ( may 25 th ) , just before the key
research reviews of friday morning take place on the electricity , telephone
and gas industries , and following a day of special topics on emerging power
markets and other developments in network industries . naturally we would
be pleased if you would be able to stay for the entire conference , but
knowing your schedule , you may only have time for a part of it . that would
not be a problem . the usual after - dinner address is for 30 minutes ,
followed by a short q & a period .
your presentation would help to underline the tremendous importance of
enron in driving the development of new risk instruments to assist in price
discovery and efficient risk management for market participants , in energy
markets and more generally . both michael and i feel that your perspectives
on the " new science of risk management " and what can be expected from it
could be a very important addition to this special anniversay event .
please let me know ( and please do copy michael on your response ) whether
your schedule will allow your participation in this very special event .
michael and i would , of course , be very happy to follow up with you in
discussing the nature of the presentation , participants and so forth , if
this is a go . i look forward to hearing from you .
regards ,
paul
paul kleindorfer
215 898 - 5830
michael a . crew
professor ii
director - center for research in regulated industries
editor - journal of regulatory economics
rutgers university , graduate school of management
180 university avenue
newark , n . j . 07102 - 1897
phone : 973 353 5049 fax : 973 353 1348
http : / / www - rci . rutgers . edu / ~ crri | 0 | ham | re : fwd : invitation to the 20 th annual rutgers conference | vince ,
i am delighted that you accept our invitation . we hope it works out that you
can attend the whole conference as we are confident that you will find the
program stimulating and will enjoy getting to know our participants . the
pleasure will certainly be mutual . you will bring a new and different
perspective from which we can all benefit .
michael
at 05 : 54 pm 3 / 15 / 01 est , vkaminski @ aol . com wrote :
> > > >
paul ,
thank you for the invitation to speak at the eastern conferences on
regulation and competition on may the 25 th . i shall be glad to attend and
make an after dinner presentation . i hope to be able to attend the entire
conference .
sorry for a delay in responding to your message . i have been traveling
extensively in the last few weeks .
vince return - path :
from : vkaminski @ aol . com
full - name : vkaminski
message - id :
date : thu , 15 mar 2001 17 : 04 : 02 est
subject : fwd : invitation to the 20 th annual rutgers conference
to : vkaminski @ aol . com
mime - version : 1 . 0
content - type : multipart / mixed ; boundary = " part 2 _ 70 . 8 aeecl 9 . 27 e 29652 _ boundary "
x - mailer : aol 6 . 0 for windows us sub 10501
return - path :
received : from rly - yho 3 . mx . aol . com ( rly - yho 3 . mail . aol . com [ 172 . 18 . 147 . 35 ] )
by air - yho 3 . mail . aol . com ( v 77 _ rl . 21 ) with esmtp ; fri , 09 mar 2001 18 : 01 : 27
- 0500
received : from postmaster . enron . com ( outbound 5 . enron . com [ 192 . 152 . 140 . 9 ] ) by
rly - yho 3 . mx . aol . com ( v 77 _ rl . 21 ) with esmtp ; fri , 09 mar 2001 18 : 01 : 01 - 0500
received : from mailman . enron . com ( mailman . enron . com [ 192 . 168 . 189 . 66 ] )
by postmaster . enron . com ( 8 . 8 . 8 / 8 . 8 . 8 / postmaster - 1 . 00 ) with esmtp id xaao 2258
for ; fri , 9 mar 2001 23 : 00 : 59 gmt
from : vince . j . kaminski @ enron . com
received : from nahou - msmswo 3 px . corp . enron . com ( [ 172 . 28 . 10 . 39 ] )
by mailman . enron . com ( 8 . 10 . 1 / 8 . 10 . 1 / corp - 1 . 05 ) with esmtp id f 29 noxp 22494
for ; fri , 9 mar 2001 17 : 00 : 59 - 0600 ( cst )
received : from ene - mtaol . enron . com ( unverified ) by
nahou - msmswo 3 px . corp . enron . com
( content technologies smtprs 4 . 1 . 5 ) with esmtp id for ;
fri , 9 mar 2001 17 : 01 : 07 - 0600
subject : invitation to the 20 th annual rutgers conference
to : vkaminski @ aol . com
date : fri , 9 mar 2001 17 : 00 : 58 - 0600
message - id :
x - mimetrack : serialize by router on ene - mtaol / enron ( release 5 . 0 . 6 | december
14 , 2000 ) at
03 / 09 / 2001 04 : 58 : 03 pm
mime - version : 1 . 0
content - type : text / plain ; charset = us - ascii
x - mailer : unknown ( no version )
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 09 / 2001
05 : 01 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" kleindorfer , paul " on 03 / 08 / 2001 03 : 41 : 21
pm
to : " ' vkamins @ enron . com ' "
cc : " ' mcrew @ andromeda . rutgers . edu ' "
subject : invitation to the 20 th annual rutgers conference
vince :
for two decades now , i have been a member of the faculty helping to
organize the eastern conferences on regulation and competition that michael
crew of rutgers has chaired . this year will be , in fact , the 20 th
anniversary conference and a number of notable personages will be joining
us to celebrate what we have learned and what we haven ' t about the
economics of network industries . fred kahn , al philipps , bill hogan and a
number of other distinguished academics will be reviewing our progress and
the prospects for the future . the conference will take place at a
beautiful site in the poconos , about 90 minutes north of philadelphia , from
wednesday afternoon may 24 th to friday afternoon may 26 th . you can check
for yourself the nature of the program and the conference site / hotel at the
following website url :
http : / / www . rci . rutgers . edu / ~ crri / ws . htm
michael crew and i would both be delighted if you would be willing to be an
after dinner speaker on thursday evening ( may 25 th ) , just before the key
research reviews of friday morning take place on the electricity , telephone
and gas industries , and following a day of special topics on emerging power
markets and other developments in network industries . naturally we would
be pleased if you would be able to stay for the entire conference , but
knowing your schedule , you may only have time for a part of it . that would
not be a problem . the usual after - dinner address is for 30 minutes ,
followed by a short q & a period .
your presentation would help to underline the tremendous importance of
enron in driving the development of new risk instruments to assist in price
discovery and efficient risk management for market participants , in energy
markets and more generally . both michael and i feel that your perspectives
on the " new science of risk management " and what can be expected from it
could be a very important addition to this special anniversay event .
please let me know ( and please do copy michael on your response ) whether
your schedule will allow your participation in this very special event .
michael and i would , of course , be very happy to follow up with you in
discussing the nature of the presentation , participants and so forth , if
this is a go . i look forward to hearing from you .
regards ,
paul
paul kleindorfer
215 898 - 5830
michael a . crew
professor ii
director - center for research in regulated industries
editor - journal of regulatory economics
rutgers university , graduate school of management
180 university avenue
newark , n . j . 07102 - 1897
phone : 973 353 5049 fax : 973 353 1348
http : / / www - rci . rutgers . edu / ~ crri | 2001-03-15T00:00:00 |
17,976 | start date : 2 / 1 / 02 ; hourahead hour : 5 ; start date : 2 / 1 / 02 ; hourahead hour : 5 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002020105 . txt | 0 | ham | start date : 2 / 1 / 02 ; hourahead hour : 5 ; | start date : 2 / 1 / 02 ; hourahead hour : 5 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002020105 . txt | 2002-02-01T00:00:00 |
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| 2005-04-08T00:00:00 |
1,403 | request submitted : access request ( ygcy - 4 n 9 kdl ) - - - - - - - - - - - - - - - - - - - - - - forwarded by yvette g connevey / corp / enron on
08 / 16 / 2000 10 : 05 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
information risk management
08 / 16 / 2000 10 : 02 am
sent by : yvette g connevey
to : yvette g connevey / corp / enron @ enron
cc :
subject : request submitted : access request ( ygcy - 4 n 9 kdl )
thank you for your request .
you will be notified via email when your request has been processed . you can
check the progress of your request by doing one of the following :
in the srrs application , click on requests i have made . a listing of recent
requests will be appear sorted by resource name .
click on the request link below . this is a link to information regarding your
request .
below is a summary of your request .
requested for : liz bellamy
request date : 8 / 16 / 2000 9 : 59 : 46 am
request type : new hire - employee
request link :
requested resources
cpr - houston
default applications
lotus notes - new id access only 4 . 5 a
sitara - production us
unify - market ops .
unify - pipeline operations
if you have any questions , please contact information risk management at 35536 | 0 | ham | request submitted : access request ( ygcy - 4 n 9 kdl ) | - - - - - - - - - - - - - - - - - - - - - - forwarded by yvette g connevey / corp / enron on
08 / 16 / 2000 10 : 05 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
information risk management
08 / 16 / 2000 10 : 02 am
sent by : yvette g connevey
to : yvette g connevey / corp / enron @ enron
cc :
subject : request submitted : access request ( ygcy - 4 n 9 kdl )
thank you for your request .
you will be notified via email when your request has been processed . you can
check the progress of your request by doing one of the following :
in the srrs application , click on requests i have made . a listing of recent
requests will be appear sorted by resource name .
click on the request link below . this is a link to information regarding your
request .
below is a summary of your request .
requested for : liz bellamy
request date : 8 / 16 / 2000 9 : 59 : 46 am
request type : new hire - employee
request link :
requested resources
cpr - houston
default applications
lotus notes - new id access only 4 . 5 a
sitara - production us
unify - market ops .
unify - pipeline operations
if you have any questions , please contact information risk management at 35536 | 2000-08-16T00:00:00 |
5,212 | ceraweek 2000 update ! dear ceraweek 2000 registrant ,
thank you for your recent registration to ceraweek 2000 , cera ' s 19 th annual
executive conference and related events , february 8 - 10 , 2000 in houston , tx .
ceraweek 2000 promises to be a premier international event offering senior
energy executives new ideas , insight , and strategic thinking , as well as
opportunities for discussion on the major issues facing the global energy
industries .
to keep abreast of new speakers and agenda changes , we recommend that you
visit our website at http : / / www . cera . com / ceraweek / . please note that there
have been slight changes to the agenda and schedule .
if you have questions or concerns regarding ceraweek 2000 please contact
cera registration at register @ cera . com or 800 879 - 2372 ext . 800 ( outside
the u . s . ( 617 ) 497 - 6446 ext . 800 . )
we look forward to seeing you in houston .
sincerely ,
cera registration
- attl . htm | 0 | ham | ceraweek 2000 update ! | dear ceraweek 2000 registrant ,
thank you for your recent registration to ceraweek 2000 , cera ' s 19 th annual
executive conference and related events , february 8 - 10 , 2000 in houston , tx .
ceraweek 2000 promises to be a premier international event offering senior
energy executives new ideas , insight , and strategic thinking , as well as
opportunities for discussion on the major issues facing the global energy
industries .
to keep abreast of new speakers and agenda changes , we recommend that you
visit our website at http : / / www . cera . com / ceraweek / . please note that there
have been slight changes to the agenda and schedule .
if you have questions or concerns regarding ceraweek 2000 please contact
cera registration at register @ cera . com or 800 879 - 2372 ext . 800 ( outside
the u . s . ( 617 ) 497 - 6446 ext . 800 . )
we look forward to seeing you in houston .
sincerely ,
cera registration
- attl . htm | 1999-12-21T00:00:00 |
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| 2004-03-28T00:00:00 |
6,980 | fw : usaee conference dear mr . kaminski ,
attached please find our vip speaker letter , two program announcements ,
registration form and hotel information . please complete the registration
form and fax to 216 - 464 - 2768 .
if you have questions or need additional information please contact us . we
look forward to seeing you later this month .
kind regards .
dave williams
and
mary novak
- vip speaker letter . doc
- final sec prog for pdf . pdf
- usaee - iaee 2000 conference program 0728 . pdf
- regform . doc
- hotel & conference info . doc | 0 | ham | fw : usaee conference | dear mr . kaminski ,
attached please find our vip speaker letter , two program announcements ,
registration form and hotel information . please complete the registration
form and fax to 216 - 464 - 2768 .
if you have questions or need additional information please contact us . we
look forward to seeing you later this month .
kind regards .
dave williams
and
mary novak
- vip speaker letter . doc
- final sec prog for pdf . pdf
- usaee - iaee 2000 conference program 0728 . pdf
- regform . doc
- hotel & conference info . doc | 2000-09-06T00:00:00 |
8,622 | re : summer opportunity kim ,
yes , the offer is coming . it may take a few days to process it , but you can
count on it .
vince
" whitsel , kimberly " on 03 / 05 / 2001 08 : 36 : 47 am
to : " ' vince . j . kaminski @ enron . com ' "
cc :
subject : summer opportunity
vince :
i did get your phone message about the summer , but i still haven ' t heard from
enron about an offer for summer employment . i do have other offers with
other energy companies that i must respond to this week . could you let me
know as soon as possible if an offer will be made to me .
sincerely ,
kimberly whitsel
wharton mba candidate 2002 | 0 | ham | re : summer opportunity | kim ,
yes , the offer is coming . it may take a few days to process it , but you can
count on it .
vince
" whitsel , kimberly " on 03 / 05 / 2001 08 : 36 : 47 am
to : " ' vince . j . kaminski @ enron . com ' "
cc :
subject : summer opportunity
vince :
i did get your phone message about the summer , but i still haven ' t heard from
enron about an offer for summer employment . i do have other offers with
other energy companies that i must respond to this week . could you let me
know as soon as possible if an offer will be made to me .
sincerely ,
kimberly whitsel
wharton mba candidate 2002 | 2001-03-05T00:00:00 |
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25,493 | proposal dear ,
i am george williams , a consulting auditor , nedbank plc ,
johannesburg - south africa . during the course of my auditing work with my client
bank , i discovered an account worth $ 25 , 400 . 000 . 00 usd opened in the bank
in 1998 by a great late estate magnate who died without a written or oral
' will ' attached to the account with respect to his investment in habitat
real estate company south africa . [ flight af 4590 ]
it is because of the perceived possibility of not being able to locate any
of late mr . andreas schranner next of kin known to the bank , according to
the immigration data available to the bank , that the management , under the
influence of our chairman and members of the board of directors , started arrangement
for the fund to be decleared " unclaimed " and subsequentlly be donated as
trust fund for arms / ammunition to further enhance the course of war in africa
for their selfish political interest / investment .
in order to avert this negative development , i have secretly discussed this
matter with a close confidant attorney whom i must involve in order to assist
us produce legal back - up documents which would substantiate claims / position
of next of kin and also enable us have a smooth and successful transfer of
the fund to any foreign bank account which you are going to nominate . i contacted
you to see if you can assist by providing your safe bank account for the
transfer and also stand in as distant next of kin to the deceased .
all validating and authenticating documents to enable you get this fund will
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sharing ratio after completion of transfer will be thus : 60 % for me ,
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course of completing the transfer .
kindly indicate your interest to enable us , with your assistance , move the
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that for the purposes of confidentiality , all further
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auditor , nedbank plc ,
johannesburg - south africa . | 1 | spam | proposal | dear ,
i am george williams , a consulting auditor , nedbank plc ,
johannesburg - south africa . during the course of my auditing work with my client
bank , i discovered an account worth $ 25 , 400 . 000 . 00 usd opened in the bank
in 1998 by a great late estate magnate who died without a written or oral
' will ' attached to the account with respect to his investment in habitat
real estate company south africa . [ flight af 4590 ]
it is because of the perceived possibility of not being able to locate any
of late mr . andreas schranner next of kin known to the bank , according to
the immigration data available to the bank , that the management , under the
influence of our chairman and members of the board of directors , started arrangement
for the fund to be decleared " unclaimed " and subsequentlly be donated as
trust fund for arms / ammunition to further enhance the course of war in africa
for their selfish political interest / investment .
in order to avert this negative development , i have secretly discussed this
matter with a close confidant attorney whom i must involve in order to assist
us produce legal back - up documents which would substantiate claims / position
of next of kin and also enable us have a smooth and successful transfer of
the fund to any foreign bank account which you are going to nominate . i contacted
you to see if you can assist by providing your safe bank account for the
transfer and also stand in as distant next of kin to the deceased .
all validating and authenticating documents to enable you get this fund will
be carefully worked out . we have secured from the probate
registry , an order of mandamus to locate any of the deceased
beneficiaries , and makes this business 100 % risk free and legal . the
sharing ratio after completion of transfer will be thus : 60 % for me ,
35 % for you , and 5 % to cover any expenses that may be incurred in the
course of completing the transfer .
kindly indicate your interest to enable us , with your assistance , move the
fund to the banks offshore clearing houses in europe or asia . please note
that for the purposes of confidentiality , all further
correspondence should be through my alternative email : georgew 205 @ yahoo . co . in
accept my warm regards as i await your response .
sincerely ,
mr . george williams
auditor , nedbank plc ,
johannesburg - south africa . | 2005-06-24T00:00:00 |
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