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1,094 | july 2000 co - owner ' s volumes july lst co - owner volumes - koch , texas
beverly
- - - - - - - - - - - - - - - - - - - - - - forwarded by beverly beaty / hou / ect on 06 / 28 / 2000 08 : 26
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
enron capital & trade resources corp .
from : " steve holmes "
06 / 27 / 2000 04 : 44 pm
to :
cc :
subject : july 2000 co - owner ' s volumes
please see the attached list of co - owner ' s availabilities for the month of
july 2000 .
steve
- 0700 co - owners volumes to enron . xls | 0 | ham | july 2000 co - owner ' s volumes | july lst co - owner volumes - koch , texas
beverly
- - - - - - - - - - - - - - - - - - - - - - forwarded by beverly beaty / hou / ect on 06 / 28 / 2000 08 : 26
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
enron capital & trade resources corp .
from : " steve holmes "
06 / 27 / 2000 04 : 44 pm
to :
cc :
subject : july 2000 co - owner ' s volumes
please see the attached list of co - owner ' s availabilities for the month of
july 2000 .
steve
- 0700 co - owners volumes to enron . xls | 2000-06-28T00:00:00 |
32,750 | the best in extreme get access to the biggest movie archive on the net
http : / / cg . seomoria . com / ajy / ium . html
remove yourself here | 1 | spam | the best in extreme | get access to the biggest movie archive on the net
http : / / cg . seomoria . com / ajy / ium . html
remove yourself here
| 2005-05-06T00:00:00 |
26,188 | you want to submit your website to search engines but do not know how to do it ? submitting your website in search engines may increase
your online sales dramatically .
if you invested time and money into your website , you
simply must submit your website
oniine otherwise it wili be invisibie virtually , which means efforts spent in vain .
if you want
people to know about your website and boost your revenues , the only way to do
that is to
make your site visibie in places
where peopie search for information , i . e .
submit your
website in multiple search engines .
submit your website online
and watch visitors stream to your e - business .
best reqards ,
lessiebush _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | 1 | spam | you want to submit your website to search engines but do not know how to do it ? | submitting your website in search engines may increase
your online sales dramatically .
if you invested time and money into your website , you
simply must submit your website
oniine otherwise it wili be invisibie virtually , which means efforts spent in vain .
if you want
people to know about your website and boost your revenues , the only way to do
that is to
make your site visibie in places
where peopie search for information , i . e .
submit your
website in multiple search engines .
submit your website online
and watch visitors stream to your e - business .
best reqards ,
lessiebush _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | 2005-07-01T00:00:00 |
2,415 | hpl noms . for jan . 19 , 2001 ( see attached file : hplnol 19 . xls )
- hplnol 19 . xls | 0 | ham | hpl noms . for jan . 19 , 2001 | ( see attached file : hplnol 19 . xls )
- hplnol 19 . xls | 2001-01-18T00:00:00 |
14,787 | did you resolve your it issues yesterday . . . . | 0 | ham | did you resolve your it issues yesterday . . . . | 2002-01-17T00:00:00 |
|
5,329 | vince , congratulations on your promotion !
regards ,
nh | 0 | ham | vince , | congratulations on your promotion !
regards ,
nh | 2000-01-12T00:00:00 |
7,391 | re : john martin - baylor cindy ,
i am in wharton on december 6 . other days prior to dec 6 are ok .
vince
from : mark palmer @ enron on 10 / 25 / 2000 10 : 33 am
sent by : cindy derecskey @ enron
to : vince j kaminski / hou / ect @ ect
cc : christie patrick / hou / ect @ ect
subject : john martin - baylor
good morning vince ,
christie has suggested that i be the liaison for john martin and your
research project ' enron - case study of a company reinventing itself ' .
in john ' s lastest email , he suggested that the first week of december works
with his schedule - up to december 6 th - or the following couple of weeks
after dec . 8 th . do these dates work for you as well ? if so , i will proceed
in booking one hour sessions with the following enron management :
ken lay
jeff skilling
andy fastow
if these dates do not work for you let me know when you are available and i
will try to coordinate with john , jeff , ken and andy . also , i will send an
introductory email to john .
i ' m looking forward to hearing from you ,
cindy derecskey
3 - 5670 | 0 | ham | re : john martin - baylor | cindy ,
i am in wharton on december 6 . other days prior to dec 6 are ok .
vince
from : mark palmer @ enron on 10 / 25 / 2000 10 : 33 am
sent by : cindy derecskey @ enron
to : vince j kaminski / hou / ect @ ect
cc : christie patrick / hou / ect @ ect
subject : john martin - baylor
good morning vince ,
christie has suggested that i be the liaison for john martin and your
research project ' enron - case study of a company reinventing itself ' .
in john ' s lastest email , he suggested that the first week of december works
with his schedule - up to december 6 th - or the following couple of weeks
after dec . 8 th . do these dates work for you as well ? if so , i will proceed
in booking one hour sessions with the following enron management :
ken lay
jeff skilling
andy fastow
if these dates do not work for you let me know when you are available and i
will try to coordinate with john , jeff , ken and andy . also , i will send an
introductory email to john .
i ' m looking forward to hearing from you ,
cindy derecskey
3 - 5670 | 2000-10-25T00:00:00 |
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area , caught either began . happen , laugh do , final , if , only .
very electric you end every , suffix . tell light , fall least ,
thick over . yes call temperature . group , after quite still . sand
too learn . ride gave bird voice under . product fly job time
pattern oh leave . done plan much . friend , distant , base . drop ,
heart gentle necessary . is she , hot close after .
| 2005-09-03T00:00:00 |
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the introduction . how it was .
in the beginning of 2004 we le ministre and render , founders of the project of the first internet - stock exchange of the criminal goods and services , have decided to unite our advertising potential with technical opportunities fdcservers . net . lately our project became a unique public place of advertising of the illegal goods and services , you will not be able to find the same anywhere in the internet ! at this moment we have more than 5 , 000 customers of our stock exchange worldwide !
the present .
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" i ' m offer development and creative any kind of stamps and seals ( not emboss , print only ) . if you need stamp of any notary , arrival / departure of any country and many many more - you ' re welcome .
the best way to get high quality stamp and reasonable price is send me scanned original stamp ( 300 or 600 dpi only ! ) i ' m reviewed on this service in russian part of this forum .
every stamp cost different money . for example stamps af ariival / departure cost $ 40 per stamp . if stamp have microelements , cost will be higher .
payment options .
1 . you must pay 100 % cost before i begin work with your stuff .
2 . i accept e - gold ( preferred ) , western union and webmoney
delivery options .
i can send you stamp by regular mail , air mail , ups , dhl ( please , remember , that delivery by ups and dhl from russia to foreign countries cost very high , around $ 30 - 40 per parcel ) . also , send me info about country of delivery before pay money .
my contacts .
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email s _ tamps @ mail . ru "
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golds - platinums - bussines etc $ 80
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classics $ 90
golds , plat , bussines , delta $ 150
same qualitie .
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wu & e gold
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( usually the same day or hours after order is received , depending of local time )
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email : napalmlight @ yahoo . com . mx "
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" full info ccs - ebays - paypals for sale "
" dear members , i am selling :
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* all my cobs come with cc # - full name - billing address - cvv 2 - pin - ssn - dob - mmn - ebay or paypal account . & login - pass for the online access .
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pay for 20 cobs . get 7 free cobs
good discount for + 1 k orders
paypals :
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faq :
1 - when i will receive my order ?
* for e - gold payments . you will receive ur order same day - wu payment : you must wait 1 - 2 days .
2 - can i ask for bins from my list ?
* no , you can ' t
3 - how can i contact you ?
* by icq , 5888888 or email : cctrader @ safe - mail . net "
at our stock exchange you can find the goods or services for all tastes ! if you were interested with our offer you can visit our resource to following addresses :
http : / / www . mazafaka . cc
http : / / www . carding . ru
if you have any questios please contact us by fillowing e - mail ' s :
leministre @ carding . ru ( main questions about the service )
petr @ fdcservers . net ( technical questions ) | 1 | spam | ge of the criminal goods and services ! | dear internet - user , the internet - stock exchange " mazafaka . cc " in partnership with " fdcservers . net " call attention to you the huge list of the criminal goods and services on our joint the internet - resource .
the introduction . how it was .
in the beginning of 2004 we le ministre and render , founders of the project of the first internet - stock exchange of the criminal goods and services , have decided to unite our advertising potential with technical opportunities fdcservers . net . lately our project became a unique public place of advertising of the illegal goods and services , you will not be able to find the same anywhere in the internet ! at this moment we have more than 5 , 000 customers of our stock exchange worldwide !
the present .
we offer you a unique opportunity , to receive of what you could not earlier even think ! to buy or take advantage of an enormous spectrum of various kinds of the goods and services !
for example :
" any stamps and seals for your business . "
" i ' m offer development and creative any kind of stamps and seals ( not emboss , print only ) . if you need stamp of any notary , arrival / departure of any country and many many more - you ' re welcome .
the best way to get high quality stamp and reasonable price is send me scanned original stamp ( 300 or 600 dpi only ! ) i ' m reviewed on this service in russian part of this forum .
every stamp cost different money . for example stamps af ariival / departure cost $ 40 per stamp . if stamp have microelements , cost will be higher .
payment options .
1 . you must pay 100 % cost before i begin work with your stuff .
2 . i accept e - gold ( preferred ) , western union and webmoney
delivery options .
i can send you stamp by regular mail , air mail , ups , dhl ( please , remember , that delivery by ups and dhl from russia to foreign countries cost very high , around $ 30 - 40 per parcel ) . also , send me info about country of delivery before pay money .
my contacts .
icq 333204733 ( preferred )
email s _ tamps @ mail . ru "
- - - - - - - - - - - - - - - - - - - - - -
" napalmlight dumps for sale - - best around "
" all dumps are fresh skimmed and come with original trackl & track 2 , this assure that they wont be a pickup .
latin american skimmed dumps
prices :
classics & mastercard $ 60
golds - platinums - bussines etc $ 80
new service
new dumps arived uk skimmed and fresh
classics $ 90
golds , plat , bussines , delta $ 150
same qualitie .
minimum order : $ 300 . 00
wu & e gold
turnover time :
when money is picked up . . . .
( usually the same day or hours after order is received , depending of local time )
contact info :
icq : 252870445
email : napalmlight @ yahoo . com . mx "
- - - - - - - - - - - - - - - - - - - - -
" full info ccs - ebays - paypals for sale "
" dear members , i am selling :
ebay accounts :
contact for prices .
full info ccs : ( pin - ssn - mmn - dob - cvv 2 and all other info . )
10 $ / each " 100 $ min order "
cobs : if you dont know what is cob . read this http : / / www . mazafaka . cc / showthread . php ? p = 93094 # post 93094 lk - 3 k > > > 120 $
4 k - 7 k > > > 140 $
8 k - 13 k > > > 170 $
14 k - 21 k > > > 200 $
* all my cobs come with cc # - full name - billing address - cvv 2 - pin - ssn - dob - mmn - ebay or paypal account . & login - pass for the online access .
pay for 5 cobs . get 1 free cob
pay for 10 cobs . get 3 free cobs
pay for 20 cobs . get 7 free cobs
good discount for + 1 k orders
paypals :
3 $ / account - min order " $ 500 " i dont check if the account with email access or not .
faq :
1 - when i will receive my order ?
* for e - gold payments . you will receive ur order same day - wu payment : you must wait 1 - 2 days .
2 - can i ask for bins from my list ?
* no , you can ' t
3 - how can i contact you ?
* by icq , 5888888 or email : cctrader @ safe - mail . net "
at our stock exchange you can find the goods or services for all tastes ! if you were interested with our offer you can visit our resource to following addresses :
http : / / www . mazafaka . cc
http : / / www . carding . ru
if you have any questios please contact us by fillowing e - mail ' s :
leministre @ carding . ru ( main questions about the service )
petr @ fdcservers . net ( technical questions )
| 2005-06-16T00:00:00 |
21,330 | wonderful priced to make meds affordable and customers satisfy skylight dreamed upby you and me in our sleep . you come walking on pillows and sheets .
cought tight in the sheets . our dreams entangled twisted by your heat . it ' s the coldest part of the night . title : loveland
then he caught up another piglet and pushed it into the first , where it disappeared
zdravih fulla a 9 ibrahims | 1 | spam | wonderful priced to make meds affordable and customers satisfy skylight | dreamed upby you and me in our sleep . you come walking on pillows and sheets .
cought tight in the sheets . our dreams entangled twisted by your heat . it ' s the coldest part of the night . title : loveland
then he caught up another piglet and pushed it into the first , where it disappeared
zdravih fulla a 9 ibrahims
| 2005-02-20T00:00:00 |
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32,984 | unleash the animal in her , use a ring . experience a better life without involving pills !
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so what is this vibrating ring . the vibrating ring is a soft ,
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and i used to be able to visit all my frens blog ( not tt i ' m kpo or anything ) but now i can only visit certain blogs only . . namely catherine ' s , faizah ' s , xinyi ' s , cindy ' s , phileo ' s and josh ' s . . . i oso can ' t visit the sites i used to frequent in the past . . . . and all this happen juz bcos of the bloody problem wif my com . . . i dun think my mum ' s willing to haf it fixed anytime soon so i still haf to use the damn computer n bear wif it . . . but knowing my short temper , i might juz throw the com outside the window one day . . . . any way that kills saturday , i am getting hungry after all the wife did not let me eat anything before she had to wisk me away to the er . i am thinking no problem i will get some lunch or dinner . . . right . . . wrong . the doc puts me on a clear liquid diet . saturday when i got up not a lot happening , i checked the mail and the missus had a b - day card from my parents . inside was 50 buckaroos , now most would go and spend that money on themselves which is what i expected her to do . nope . . instead she took me out to lunch we had some fun just her and i sitting around talking about nothing in general . time alone is a rare thing . catch you soonnathaniel | 1 | spam | unleash the animal in her , use a ring . | experience a better life without involving pills !
bring a smile to your lover ' s face every time you ' re with him !
let me introduce to you something that is fun , exciting and most of
all enjoyablethe vibrating ring ! !
this is what this is about
the vr is the latest craze to sweep the world and people
just can ' t get enough ! its safe , easy - to - use and so cheap , you ' ll want
10 ! ! ! it ' s comfortable design means that it ' s not too invasive or
awkward to use and it will expand to fit any size !
so what is this vibrating ring . the vibrating ring is a soft ,
ring that fits snug at the base , whilst the raised ,
v tickler stimulates her externally , hitting the right spot
everytime ! not only will the firm hold make him stay harder for
longer , it will give her those multiple pleasures she ' s only read
about !
dont wait for it ! get your vibrating ring today !
and i used to be able to visit all my frens blog ( not tt i ' m kpo or anything ) but now i can only visit certain blogs only . . namely catherine ' s , faizah ' s , xinyi ' s , cindy ' s , phileo ' s and josh ' s . . . i oso can ' t visit the sites i used to frequent in the past . . . . and all this happen juz bcos of the bloody problem wif my com . . . i dun think my mum ' s willing to haf it fixed anytime soon so i still haf to use the damn computer n bear wif it . . . but knowing my short temper , i might juz throw the com outside the window one day . . . . any way that kills saturday , i am getting hungry after all the wife did not let me eat anything before she had to wisk me away to the er . i am thinking no problem i will get some lunch or dinner . . . right . . . wrong . the doc puts me on a clear liquid diet . saturday when i got up not a lot happening , i checked the mail and the missus had a b - day card from my parents . inside was 50 buckaroos , now most would go and spend that money on themselves which is what i expected her to do . nope . . instead she took me out to lunch we had some fun just her and i sitting around talking about nothing in general . time alone is a rare thing . catch you soonnathaniel
| 2005-05-27T00:00:00 |
25,845 | claim your free home depot gift card - a $ 1000 value . claim your home depot gift card - a $ 1000 value . were sure you can find a use for this gift card in your area . ( ) .
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15,711 | nakesha mnei micro - cap journal shrapnel sun , 16 jan 2005 06 : 43 : 40 - 0600
hot pick ( mnei ) for next week 300 to 500 % gains
expected , read below : ( 853 xllwj 8
mnei - the best small cap stock in 2005 just keep
reading the profile and the news of this company
and you will see for yourself . 76 % gain on friday
and 500 % gain expected this week coming up . if you
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here you can open a new account with the best brokers .
millennium national events , inc . - ticker : mnei
ticker : mnei
current - price : $ 0 . 97
1 - 2 weeks target price : $ 4 - 5
the sky is the limit , look at level 2 you will see .
millenniums current roster of event sponsors includes
such names as : wm wrigley , american express , office
depot , verizon , italian rose , twa , power sports ,
pizza hut , coca - cola , samuel adams , clear channel
communications , viacom , infinity broadcasting ,
budweiser , cox broadcasting , nbc local affiliates ,
brown foreman ( jack daniels ) , southern wine &
spirits , viking ovens and bergwater vineyards .
and just read the friday news . . . read the entire
news below
millennium national events enters into an exclusive
strategic alliance with sign - a - rama , the world ' s
largest sign franchise system with over 700 stores
in over 35 countries
millennium national events enters into an exclusive
strategic alliance with sign - a - rama , the world ' s
largest sign franchise system with over 700 stores
in over 35 countries
yes you read it right - this is serious company
with some serious business . we recommend it immediately
more great news is expected later this week .
millennium national events , inc . ( mnei ) is an event
company that is currently transforming the world of
special events and corporate sponsorship . the company
is a fully integrated event promoter which owns ,
partially or entirely , and / or operates a diversified
network of events and event promoters in the states
of florida , new york , indiana , colorado , california
and washington dc .
through its diverse segments , millennium ' s footprint
is expanding in live entertainment , including sports
and music . while millennium national events owns and
is constantly acquiring existing events , our upcoming
calendar includes events with img , clear channel , sfx ,
the atp , nfl , pga , lpga , and nascar .
ticker : mnei
current - price : $ 0 . 97
1 - 2 weeks target price : $ 4 - 5
the sky is the limit , look at level 2 you will see .
news release :
delray beach , fla . , jan . 14 / prnewswire - firstcall /
millennium national events : mnei today announced that
it has entered into an exclusive agreement with
sign - a - rama , giving the sign giant ' s 700 stores
in 35 countries the benefit of millennium ' s preferred
vendor status with img , sfx and clear channel , and
its access to over 5000 events worldwide .
millennium ' s strength exists in its ability to produce
one of the most robust and diverse schedules of events
using all venues for concerts , sporting events , festivals
and trade shows , " said mitchell steinberg , chairman
and coo of millennium .
" consolidating our signage consumption under one umbrella
with a company that has the scope and vision of
sign - a - rama will mean tremendous economy of scale
purchasing power to us and will yield significant
additional margin for both of our companies , " added
steinberg .
industry estimates suggest that the expense budget on
signage for events in 2004 ran to approximately one
billion dollars worldwide .
the alliance with sign - a - rama will bring value - added
benefits to millennium , with sign - a - rama shops throughout
the world acting as " printing and graphics divisions "
of the company . added steinberg , " it allows us to
outsource , which is key to streamlining operations ,
the added bonus being that we maintain control and
confidence in execution . we know sign - a - rama shops
have the ability to get the job done , just about
anywhere in the world . instead of being one more thing
to worry about , it becomes one more solid building
block in millennium ' s ability to be a turnkey event
promoter worldwide . "
ray titus , president of both sign - a - rama and embroidme ,
added , " we see this affiliation with millennium as a
natural extension for both of our franchise companies ,
sign - a - rama and embroidme . the signage and embroidery
business is a perfect complement to any , and all ,
events , and we are extremely excited about the positive
impact this will have for our family of franchise owners .
- - - - - - - full legal disclosure below : - - - - - - - - - -
information within this email contains " forward looking
statements " within the meaning of section 27 a of the
securities act of 1933 and section 21 b of the securities
exchange act of 1934 . any statements that express or
involve discussions with respect to predictions , goals ,
expectations , beliefs , plans , projections , objectives ,
assumptions or future events or performance are not
statements of historical fact and may be " forward
looking statements . " forward looking statements are
based on expectations , estimates and projections at
the time the statements are made that involve a number
of risks and uncertainties which could cause actual results
or events to differ materially from those presently
anticipated . forward looking statements in this action may
be identified through the use of words such as : " projects " ,
" foresee " , " expects " , " estimates , " " believes , " " understands "
" will , " " part of : " anticipates , " or that by statements
indicating certain actions " may , " " could , " or " might "
occur . all information provided within this email
pertaining to investing , stocks , securities must be
understood as information provided and not investment
advice . emerging equity alert advises all readers and
subscribers to seek advice from a registered professional
securities representative before deciding to trade in
stocks featured within this email . none of the material
within this report shall be construed as any kind of
investment advice . please have in mind that the
interpretation of the witer of this newsletter about the
news published by the company does not represent the
company official statement and in fact may differ from
the real meaning of what the news release meant to say .
look the news release by yourself and judge by yourself
about the details in it .
in compliance with section 17 ( b ) , we disclose the holding
of mnei shares prior to the publication of this report . be
aware of an inherent conflict of interest resulting from
such holdings due to our intent to profit from the liquidation
of these shares . shares may be sold at any time , even after
positive statements have been made regarding the above
company . since we own shares , there is an inherent conflict
of interest in our statements and opinions . readers of this
publication are cautioned not to place undue reliance on
forward - looking statements , which are based on certain
assumptions and expectations involving various risks and
uncertainties , that could cause results to differ materially
from those set forth in the forward - looking statements .
please be advised that nothing within this email shall
constitute a solicitation or an invitation to get position
in or sell any security mentioned herein . this newsletter
is neither a registered investment advisor nor affiliated
with any broker or dealer . this newsletter was paid $ 7130
from third party to send this report . all statements made
are our express opinion only and should be treated as such .
we may own , take position and sell any securities mentioned
at any time . this report includes forward - looking statements
within the meaning of the private securities litigation
reform act of 1995 . these statements may include terms as
" expect " , " believe " , " may " , " will " , " move " , " undervalued "
and " intend " or similar terms . fist
vein ninny foothold seem | 1 | spam | nakesha mnei micro - cap journal shrapnel | sun , 16 jan 2005 06 : 43 : 40 - 0600
hot pick ( mnei ) for next week 300 to 500 % gains
expected , read below : ( 853 xllwj 8
mnei - the best small cap stock in 2005 just keep
reading the profile and the news of this company
and you will see for yourself . 76 % gain on friday
and 500 % gain expected this week coming up . if you
are new to trading and need an account go too :
here you can open a new account with the best brokers .
millennium national events , inc . - ticker : mnei
ticker : mnei
current - price : $ 0 . 97
1 - 2 weeks target price : $ 4 - 5
the sky is the limit , look at level 2 you will see .
millenniums current roster of event sponsors includes
such names as : wm wrigley , american express , office
depot , verizon , italian rose , twa , power sports ,
pizza hut , coca - cola , samuel adams , clear channel
communications , viacom , infinity broadcasting ,
budweiser , cox broadcasting , nbc local affiliates ,
brown foreman ( jack daniels ) , southern wine &
spirits , viking ovens and bergwater vineyards .
and just read the friday news . . . read the entire
news below
millennium national events enters into an exclusive
strategic alliance with sign - a - rama , the world ' s
largest sign franchise system with over 700 stores
in over 35 countries
millennium national events enters into an exclusive
strategic alliance with sign - a - rama , the world ' s
largest sign franchise system with over 700 stores
in over 35 countries
yes you read it right - this is serious company
with some serious business . we recommend it immediately
more great news is expected later this week .
millennium national events , inc . ( mnei ) is an event
company that is currently transforming the world of
special events and corporate sponsorship . the company
is a fully integrated event promoter which owns ,
partially or entirely , and / or operates a diversified
network of events and event promoters in the states
of florida , new york , indiana , colorado , california
and washington dc .
through its diverse segments , millennium ' s footprint
is expanding in live entertainment , including sports
and music . while millennium national events owns and
is constantly acquiring existing events , our upcoming
calendar includes events with img , clear channel , sfx ,
the atp , nfl , pga , lpga , and nascar .
ticker : mnei
current - price : $ 0 . 97
1 - 2 weeks target price : $ 4 - 5
the sky is the limit , look at level 2 you will see .
news release :
delray beach , fla . , jan . 14 / prnewswire - firstcall /
millennium national events : mnei today announced that
it has entered into an exclusive agreement with
sign - a - rama , giving the sign giant ' s 700 stores
in 35 countries the benefit of millennium ' s preferred
vendor status with img , sfx and clear channel , and
its access to over 5000 events worldwide .
millennium ' s strength exists in its ability to produce
one of the most robust and diverse schedules of events
using all venues for concerts , sporting events , festivals
and trade shows , " said mitchell steinberg , chairman
and coo of millennium .
" consolidating our signage consumption under one umbrella
with a company that has the scope and vision of
sign - a - rama will mean tremendous economy of scale
purchasing power to us and will yield significant
additional margin for both of our companies , " added
steinberg .
industry estimates suggest that the expense budget on
signage for events in 2004 ran to approximately one
billion dollars worldwide .
the alliance with sign - a - rama will bring value - added
benefits to millennium , with sign - a - rama shops throughout
the world acting as " printing and graphics divisions "
of the company . added steinberg , " it allows us to
outsource , which is key to streamlining operations ,
the added bonus being that we maintain control and
confidence in execution . we know sign - a - rama shops
have the ability to get the job done , just about
anywhere in the world . instead of being one more thing
to worry about , it becomes one more solid building
block in millennium ' s ability to be a turnkey event
promoter worldwide . "
ray titus , president of both sign - a - rama and embroidme ,
added , " we see this affiliation with millennium as a
natural extension for both of our franchise companies ,
sign - a - rama and embroidme . the signage and embroidery
business is a perfect complement to any , and all ,
events , and we are extremely excited about the positive
impact this will have for our family of franchise owners .
- - - - - - - full legal disclosure below : - - - - - - - - - -
information within this email contains " forward looking
statements " within the meaning of section 27 a of the
securities act of 1933 and section 21 b of the securities
exchange act of 1934 . any statements that express or
involve discussions with respect to predictions , goals ,
expectations , beliefs , plans , projections , objectives ,
assumptions or future events or performance are not
statements of historical fact and may be " forward
looking statements . " forward looking statements are
based on expectations , estimates and projections at
the time the statements are made that involve a number
of risks and uncertainties which could cause actual results
or events to differ materially from those presently
anticipated . forward looking statements in this action may
be identified through the use of words such as : " projects " ,
" foresee " , " expects " , " estimates , " " believes , " " understands "
" will , " " part of : " anticipates , " or that by statements
indicating certain actions " may , " " could , " or " might "
occur . all information provided within this email
pertaining to investing , stocks , securities must be
understood as information provided and not investment
advice . emerging equity alert advises all readers and
subscribers to seek advice from a registered professional
securities representative before deciding to trade in
stocks featured within this email . none of the material
within this report shall be construed as any kind of
investment advice . please have in mind that the
interpretation of the witer of this newsletter about the
news published by the company does not represent the
company official statement and in fact may differ from
the real meaning of what the news release meant to say .
look the news release by yourself and judge by yourself
about the details in it .
in compliance with section 17 ( b ) , we disclose the holding
of mnei shares prior to the publication of this report . be
aware of an inherent conflict of interest resulting from
such holdings due to our intent to profit from the liquidation
of these shares . shares may be sold at any time , even after
positive statements have been made regarding the above
company . since we own shares , there is an inherent conflict
of interest in our statements and opinions . readers of this
publication are cautioned not to place undue reliance on
forward - looking statements , which are based on certain
assumptions and expectations involving various risks and
uncertainties , that could cause results to differ materially
from those set forth in the forward - looking statements .
please be advised that nothing within this email shall
constitute a solicitation or an invitation to get position
in or sell any security mentioned herein . this newsletter
is neither a registered investment advisor nor affiliated
with any broker or dealer . this newsletter was paid $ 7130
from third party to send this report . all statements made
are our express opinion only and should be treated as such .
we may own , take position and sell any securities mentioned
at any time . this report includes forward - looking statements
within the meaning of the private securities litigation
reform act of 1995 . these statements may include terms as
" expect " , " believe " , " may " , " will " , " move " , " undervalued "
and " intend " or similar terms . fist
vein ninny foothold seem | 2005-01-16T00:00:00 |
27,158 | prime lenders application status 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 : [ 046 - 073 ]
* negotiable amount : $ 182 , 092 to $ 657 , 186
* rate : 3 . 30 % - 5 . 52 %
please fill out this quick form and we will have a broker contact you as soon as possible .
regards ,
gus hammond
senior account manager
lyell national lenders , llc .
database deletion :
www . lend - bloxz . com / r . php | 1 | spam | prime lenders application status | 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 : [ 046 - 073 ]
* negotiable amount : $ 182 , 092 to $ 657 , 186
* rate : 3 . 30 % - 5 . 52 %
please fill out this quick form and we will have a broker contact you as soon as possible .
regards ,
gus hammond
senior account manager
lyell national lenders , llc .
database deletion :
www . lend - bloxz . com / r . php
| 2005-07-18T00:00:00 |
3,323 | re : noms / actuals for june 11 th & 12 th we agree
" eileen ponton " on 06 / 13 / 2001 02 : 54 : 04 pm
to : david avila / lsp / enserch / us @ tu , charlie stone / energy / txu @ tu , melissa
jones / energy / txu @ tu , teacton @ aep . com , slzajac @ aep . com
cc : " jerry k . yager "
subject : noms / actuals for june 11 th & 12 th
date nom mcf mmbtu
6 / 11 / 01 60 . 000 89 . 662 92 . 083
6 / 12 / 01 53 . 750 83 . 642 85 . 900
jerry , please double check the flow volumes for the 11 th & 12 th due to the
large difference between nominations & flow volumes . . . . . . . | 0 | ham | re : noms / actuals for june 11 th & 12 th | we agree
" eileen ponton " on 06 / 13 / 2001 02 : 54 : 04 pm
to : david avila / lsp / enserch / us @ tu , charlie stone / energy / txu @ tu , melissa
jones / energy / txu @ tu , teacton @ aep . com , slzajac @ aep . com
cc : " jerry k . yager "
subject : noms / actuals for june 11 th & 12 th
date nom mcf mmbtu
6 / 11 / 01 60 . 000 89 . 662 92 . 083
6 / 12 / 01 53 . 750 83 . 642 85 . 900
jerry , please double check the flow volumes for the 11 th & 12 th due to the
large difference between nominations & flow volumes . . . . . . . | 2001-06-13T00:00:00 |
12,299 | california update 7 / 25 / 01 - - - - meeting w / assembly on its latest version of edison mou
adding to kristin ' s update , here ' s the summary of a meeting that just occured with assembly leadership staff and industry on the assembly ' s latest version of an " edison mou " :
the speaker ' s staffer said that if he had to bet at this time , he would bet that the assembly would not convene on friday .
he also said that , if it doesn ' t happen on friday , nothing will happen until they get back from recess on the 20 th of august .
the assembly will let folks know by tonight or first thing tomorrow whether they intend to move forward with a vote on friday or recess .
from the most recent proposal released today by the assembly leadership , it appears that the centrist democrats are prevailing . the proposal :
retains direct access ( though they said that they are continuing to be pressured by the treasurer , who wants da suspended due to the bond issuance )
places 80 % of edison ' s past debt with large customers ( leaving 20 % with small customers , which business customers or strenuously opposing ) .
eliminates all references to any purchase , or option to purchase , edison ' s transmission . ( they said there simply ain ' t the votes to buy , or consider buying , edison ' s transmission in the assembly )
maintains the senate provision , which would pay the banks , pay the qfs , but place with edison the risk of figuring out how to pay the $ 1 billion owed to suppliers . ( even the munis are begining to complain about those provisions . )
creates a tradeable , renewable portfolio standard ( conceptually similar to the one created in texas ) .
the new bill is created by 1 ) amending sb 78 and 2 ) gutting a different bill passed from the senate to the assembly , sb 39 , and replacing it with the new version of 82 xx . the two would go together to create the assembly ' s newest proposal .
if this bill gets voted out of the assembly , it will likely have a difficult time getting the votes necessary to pass in the senate , since the senate has considered and rejected several provisions currently included in the assembly version .
will report back on whether the assembly ' s going forward or adjourning for recess as soon as we hear .
best ,
jeff
- - - - - forwarded by jeff dasovich / na / enron on 07 / 25 / 2001 06 : 26 pm - - - - -
kristin walsh / enron @ enronxgate 07 / 25 / 2001 04 : 30 pm to : john j lavorato / enron @ enronxgate , louise kitchen / enron @ enronxgate , david w delainey / hou / ees @ ees cc : christopher f calger / enron @ enronxgate , christian yoder / enron @ enronxgate , steve c hall / enron @ enronxgate , mike swerzbin / enron @ enronxgate , phillip k allen / enron @ enronxgate , jeff dasovich / na / enron @ enron , chris gaskill / enron @ enronxgate , mike grigsby / enron @ enronxgate , tim heizenrader / enron @ enronxgate , vince j kaminski / enron @ enronxgate , steven j kean / enron @ enronxgate , rob milnthorp / enron @ enronxgate , kevin m presto / enron @ enronxgate , claudio ribeiro / enron @ enronxgate , richard shapiro / enron @ enronxgate , james d steffes / enron @ enronxgate , mark tawney / enron @ enronxgate , scott tholan / enron @ enronxgate , britt whitman / enron @ enronxgate , lloyd will / enron @ enronxgate , alan comnes / enron @ enronxgate , rogers herndon / enron @ enronxgate , james w lewis / hou / ees @ ees , don black / hou / ees @ ees , kelly holman / enron @ enronxgate , mark dana davis / hou / ect @ ect , fletcher j sturm / enron @ enronxgate , doug gilbert - smith / enron @ enronxgate , richard b sanders / enron @ enronxgate , andrew edison / enron @ enronxgate , kelly holman / enron @ enronxgate , nancy turner / enron @ enronxgate , tim belden / enron @ enronxgate , john brindle / enron @ enronxgate , david cromley / enron @ enronxgate subject : california update 7 / 25 / 01 p . 3
details are still rough and the situation is very fluid , but here is what is currently going on :
senators hertzberg and keeley are amending both sb 78 xx and ab 82 xx . upon an initial read , it appears that they are doing the following :
? ab 82 xx has been gutted except for the direct access provisions and the renewables portfolio . ( the core / non - core business provisions , the transmission asset purchase , etc . all appear to have been deleted . ) both of these provisions that have been left in the bill were seen as positive by members last week when the bill was first debated .
? it appears amendments have been made to sb 78 xx but the extent of these changes are not yet known .
? at the beginning of both amended bills , it states , " as proposed to be amended into sb _ xx . " this means that amendments to sb 78 could be incorporated into ab 82 , and vice versa . another possibility is an entirely new bill . | 0 | ham | california update 7 / 25 / 01 - - - - meeting w / assembly on its latest | version of edison mou
adding to kristin ' s update , here ' s the summary of a meeting that just occured with assembly leadership staff and industry on the assembly ' s latest version of an " edison mou " :
the speaker ' s staffer said that if he had to bet at this time , he would bet that the assembly would not convene on friday .
he also said that , if it doesn ' t happen on friday , nothing will happen until they get back from recess on the 20 th of august .
the assembly will let folks know by tonight or first thing tomorrow whether they intend to move forward with a vote on friday or recess .
from the most recent proposal released today by the assembly leadership , it appears that the centrist democrats are prevailing . the proposal :
retains direct access ( though they said that they are continuing to be pressured by the treasurer , who wants da suspended due to the bond issuance )
places 80 % of edison ' s past debt with large customers ( leaving 20 % with small customers , which business customers or strenuously opposing ) .
eliminates all references to any purchase , or option to purchase , edison ' s transmission . ( they said there simply ain ' t the votes to buy , or consider buying , edison ' s transmission in the assembly )
maintains the senate provision , which would pay the banks , pay the qfs , but place with edison the risk of figuring out how to pay the $ 1 billion owed to suppliers . ( even the munis are begining to complain about those provisions . )
creates a tradeable , renewable portfolio standard ( conceptually similar to the one created in texas ) .
the new bill is created by 1 ) amending sb 78 and 2 ) gutting a different bill passed from the senate to the assembly , sb 39 , and replacing it with the new version of 82 xx . the two would go together to create the assembly ' s newest proposal .
if this bill gets voted out of the assembly , it will likely have a difficult time getting the votes necessary to pass in the senate , since the senate has considered and rejected several provisions currently included in the assembly version .
will report back on whether the assembly ' s going forward or adjourning for recess as soon as we hear .
best ,
jeff
- - - - - forwarded by jeff dasovich / na / enron on 07 / 25 / 2001 06 : 26 pm - - - - -
kristin walsh / enron @ enronxgate 07 / 25 / 2001 04 : 30 pm to : john j lavorato / enron @ enronxgate , louise kitchen / enron @ enronxgate , david w delainey / hou / ees @ ees cc : christopher f calger / enron @ enronxgate , christian yoder / enron @ enronxgate , steve c hall / enron @ enronxgate , mike swerzbin / enron @ enronxgate , phillip k allen / enron @ enronxgate , jeff dasovich / na / enron @ enron , chris gaskill / enron @ enronxgate , mike grigsby / enron @ enronxgate , tim heizenrader / enron @ enronxgate , vince j kaminski / enron @ enronxgate , steven j kean / enron @ enronxgate , rob milnthorp / enron @ enronxgate , kevin m presto / enron @ enronxgate , claudio ribeiro / enron @ enronxgate , richard shapiro / enron @ enronxgate , james d steffes / enron @ enronxgate , mark tawney / enron @ enronxgate , scott tholan / enron @ enronxgate , britt whitman / enron @ enronxgate , lloyd will / enron @ enronxgate , alan comnes / enron @ enronxgate , rogers herndon / enron @ enronxgate , james w lewis / hou / ees @ ees , don black / hou / ees @ ees , kelly holman / enron @ enronxgate , mark dana davis / hou / ect @ ect , fletcher j sturm / enron @ enronxgate , doug gilbert - smith / enron @ enronxgate , richard b sanders / enron @ enronxgate , andrew edison / enron @ enronxgate , kelly holman / enron @ enronxgate , nancy turner / enron @ enronxgate , tim belden / enron @ enronxgate , john brindle / enron @ enronxgate , david cromley / enron @ enronxgate subject : california update 7 / 25 / 01 p . 3
details are still rough and the situation is very fluid , but here is what is currently going on :
senators hertzberg and keeley are amending both sb 78 xx and ab 82 xx . upon an initial read , it appears that they are doing the following :
? ab 82 xx has been gutted except for the direct access provisions and the renewables portfolio . ( the core / non - core business provisions , the transmission asset purchase , etc . all appear to have been deleted . ) both of these provisions that have been left in the bill were seen as positive by members last week when the bill was first debated .
? it appears amendments have been made to sb 78 xx but the extent of these changes are not yet known .
? at the beginning of both amended bills , it states , " as proposed to be amended into sb _ xx . " this means that amendments to sb 78 could be incorporated into ab 82 , and vice versa . another possibility is an entirely new bill . | 2001-07-25T00:00:00 |
17,892 | start date : 1 / 26 / 02 ; hourahead hour : 11 ; start date : 1 / 26 / 02 ; hourahead hour : 11 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012611 . txt | 0 | ham | start date : 1 / 26 / 02 ; hourahead hour : 11 ; | start date : 1 / 26 / 02 ; hourahead hour : 11 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012611 . txt | 2002-01-26T00:00:00 |
11,509 | fw : enron / abb meeting team :
abb will be here on thursday , april 26 at 9 : 00 am . my recommendation is that ozzie and i start out with them and perhaps pull louise in at some point to show the flag . scott - we ' ll pull you in before we make any scheduling or engineering decisions - so if you could remain flexible for that period it would be greatly appreciated .
steph - if you could please get us a room through lunch at least . thanks .
dtt
- - - - - original message - - - - -
from : michael . o . sandridge @ us . abb . com @ enron [ mailto : imceanotes - michael + 2 eo + 2 esandridge + 40 us + 2 eabb + 2 ecom + 40 enron @ enron . com ]
sent : wednesday , april 18 , 2001 12 : 40 pm
to : tingleaf , drew ; svante svensson / sepow / abb % abb _ seol % abb _ ustra % abb _ notes ; lars e carlsson / sepow / abb % abb _ seol % abb _ notes % abb _ ustra % abb _ notes
cc : karla . hesketh @ us . abb . com ; dan . davis @ us . abb . com
subject : enron / abb meeting
drew ,
i spoke with svante this am and he and lars would like to visit with you and the
team on thursday 26 april 01 9 : 00 am . i think that they plan to fly in wed .
evening , i will pick them up at the airport and take them to dinner .
we will come to your offices to discuss where the project is at this time , where
enron expects it to go , what we can do to continue to support your efforts . we
will look at options that are beneficial to both enron and abb regarding
schedule , whatever that may be in the future considering work load for all
concerned . we will also will discuss some method ( even a handshake ) to keep the
contract in place so that we do not have to go through a negotiation next time .
please let us know if there are any other issues that you would like to discuss ,
we will be prepared . look forward to seeing you then .
mike | 0 | ham | fw : enron / abb meeting | team :
abb will be here on thursday , april 26 at 9 : 00 am . my recommendation is that ozzie and i start out with them and perhaps pull louise in at some point to show the flag . scott - we ' ll pull you in before we make any scheduling or engineering decisions - so if you could remain flexible for that period it would be greatly appreciated .
steph - if you could please get us a room through lunch at least . thanks .
dtt
- - - - - original message - - - - -
from : michael . o . sandridge @ us . abb . com @ enron [ mailto : imceanotes - michael + 2 eo + 2 esandridge + 40 us + 2 eabb + 2 ecom + 40 enron @ enron . com ]
sent : wednesday , april 18 , 2001 12 : 40 pm
to : tingleaf , drew ; svante svensson / sepow / abb % abb _ seol % abb _ ustra % abb _ notes ; lars e carlsson / sepow / abb % abb _ seol % abb _ notes % abb _ ustra % abb _ notes
cc : karla . hesketh @ us . abb . com ; dan . davis @ us . abb . com
subject : enron / abb meeting
drew ,
i spoke with svante this am and he and lars would like to visit with you and the
team on thursday 26 april 01 9 : 00 am . i think that they plan to fly in wed .
evening , i will pick them up at the airport and take them to dinner .
we will come to your offices to discuss where the project is at this time , where
enron expects it to go , what we can do to continue to support your efforts . we
will look at options that are beneficial to both enron and abb regarding
schedule , whatever that may be in the future considering work load for all
concerned . we will also will discuss some method ( even a handshake ) to keep the
contract in place so that we do not have to go through a negotiation next time .
please let us know if there are any other issues that you would like to discuss ,
we will be prepared . look forward to seeing you then .
mike | 2001-04-18T00:00:00 |
12,409 | chris sherman - re : hotlist when : occurs every monday effective 8 / 6 / 2001 until 7 / 29 / 2002 from 1 : 00 pm to 1 : 30 pm ( gmt - 06 : 00 ) central time ( us & canada ) .
where : louise ' s office
* ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * | 0 | ham | chris sherman - re : hotlist | when : occurs every monday effective 8 / 6 / 2001 until 7 / 29 / 2002 from 1 : 00 pm to 1 : 30 pm ( gmt - 06 : 00 ) central time ( us & canada ) .
where : louise ' s office
* ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * ~ * | 2001-08-06T00:00:00 |
28,893 | etc - theatre event - the lion king please see attached announcement on the lion king at jones hall .
if interested in purchasing tickets , please contact margaret doucette at ext . 57892 . | 0 | ham | etc - theatre event - the lion king | please see attached announcement on the lion king at jones hall .
if interested in purchasing tickets , please contact margaret doucette at ext . 57892 . | 2001-10-15T00:00:00 |
16,157 | next big mover set to skyrocket secured data inc . ( scre )
emerging leader in chinese export of pharmaceuticais !
total shares issued many of you are
already familiar with this . is scre poised and positioned to do that for
you ? then you may feel the time has come to act . . . and please watch
this one trade monday ! go scre .
penny stocks are considered highiy speculative and may be unsuitabie
for a | | but very aggressive investors . this profile is not in any way
affiiiated with the featured company . we were compensated 300 o doliars
to distribute this report . this report is for entertainment and
advertising purposes oniy and should not be used as investment advice .
if you wish to stop future maiiings , or if you fee | you have been
wrongfu | | y placed in our membership , piease go here or send a blank
e mai | with no thanks in the subject to stockl 006 @ yahoo . com | 1 | spam | next big mover set to skyrocket | secured data inc . ( scre )
emerging leader in chinese export of pharmaceuticais !
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13,566 | enron mentions enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity - - - firm will pay debt , keep cash cushion
the wall street journal , 10 / 26 / 01
deals & deal makers : enron officials sell shares amid stock - price slump
the wall street journal , 10 / 26 / 01
enron ' s financial troubles reverberate to bonds with poor liquidity and credit - rating concerns
the wall street journal , 10 / 26 / 01
most analysts remain plugged in to enron
the wall street journal , 10 / 26 / 01
enron draws down $ 3 bln in credit to boost investor confidence
bloomberg , 10 / 26 / 01
enron liked by analysts despite complicated dealings , wsj says
bloomberg , 10 / 26 / 01
enron draws down $ 3 billion from its credit lines , wsj reports
bloomberg , 10 / 26 / 01
action by enron halts stock ' s fall
houston chronicle , 10 / 26 / 01
corporate us on track for bailout
the guardian , 10 / 26 / 01
harvey pitt ' s s . e . c . : from guard dog to friendly puppy ?
the new york times , 10 / 26 / 01
enron draws down at least 1 bln usd from credit lines to boost mkt confidence
afx news , 10 / 26 / 01
the five dumbest things on wall street this week
thestreet . com , 10 / 26 / 01
stocks post gains after a rough morning
the washington post , 10 / 26 / 01
sudhakar will head enron probe panel
the times of india , 10 / 26 / 01
enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity
dow jones business news , 10 / 25 / 01
enron chief executive resigns from board of i 2 technologies
associated press newswires , 10 / 25 / 01
as enron ' s woes unnerve investors about energy sector , analysts say its problems are isolated
associated press newswires , 10 / 25 / 01
enron ' s credit outlook downgraded to negative by s no calif pwr contract talks
dow jones energy service , 10 / 25 / 01
spector , roseman & kodroff , p . c . files class action suit against enron corporation
pr newswire , 10 / 25 / 01
tgs q 3 net profit up 22 pct yr - on - yr on higher ngl sales , transport revenues
afx news , 10 / 25 / 01
enron draws down credit facility
dow jones news service , 10 / 25 / 01
enron employees watch options devalue as shares fall ( correct )
bloomberg , 10 / 25 / 01
enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity - - - firm will pay debt , keep cash cushion
by wall street journal staff reporters john r . emshwiller , rebecca smith and jathon sapsford
10 / 26 / 2001
the wall street journal
cl
( copyright ( c ) 2001 , dow jones & company , inc . )
enron corp . drew down about $ 3 billion , the bulk of its available bank credit lines , in a bid to restore confidence in its financial strength and liquidity .
enron will use part of the money to offer to redeem about $ 1 . 85 billion of outstanding commercial paper - - short - term corporate ious - - according to a person familiar with the matter , with the remainder providing the energy concern with a cash cushion . some observers believe the move is a pre - emptive step by enron to ensure that it had adequate liquidity should its access to bank lines be interrupted . the person also said enron was talking to its banks about a new , multibillion - dollar credit line .
enron insists its business operation and financial condition remain strong . but , " when the market is reacting as irrationally as it has been the last few days , we thought that cash was better than a commitment from a bank , " said an enron spokesman . in a statement , the company ' s new chief financial officer , jeff mcmahon , said that by drawing down the bank lines , " we are making it clear that enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments . "
the move underscored the tumultuous conditions that have been sweeping over the houston energy - trading concern in the past 10 days . enron is the nation ' s largest energy trader and is a principal in nearly one - quarter of all electricity and natural - gas trades . yesterday , for example , enron was involved in about $ 4 billion of deals through its enrononline unit .
since early last week , enron ' s share price has plummeted 50 % . last week , it reported a $ 618 million third - quarter loss and a reduction in shareholder equity of $ 1 . 2 billion . it also disclosed that the securities and exchange commission is conducting an inquiry into billions of dollars of transactions it did with entities connected to its former chief financial officer , andrew s . fastow , who was replaced wednesday .
the draw - down of the credit facilities came as one rating agency , fitch , put enron on review for a possible downgrade , while another , standard it takes time to sell assets , particularly in today ' s slower economy .
the company also is suffering from a string of disclosure controversies that have damaged its credibility , particularly in connection with its dealings with mr . fastow , the former chief financial officer . internal documents related to one of the fastow partnerships disclose that enron also did as much as hundreds of millions of dollars of business with an entity connected to another company official , who has since left enron . while enron disclosed its fastow - related transactions in sec filings , a computerized search of the sec ' s database of public filings produced no reference to this other employee - related entity known as chewco .
chewco was established in 1997 " with approximately $ 400 million in capital commitments " to buy an interest in enron assets , according to one of the partnerships documents . the document didn ' t further specify what assets were purchased , and it didn ' t disclose the financial impact of the transactions for either chewco or enron . chewco was being run by michael kopper , a managing director in enron ' s global equity markets group , according to the document .
enron , which has maintained that its complex financial transactions with employee - related entities were legal and properly disclosed , didn ' t have any comment regarding its dealings with chewco .
mr . kopper , who enron says left the company this year to focus on helping to run the fastow - related partnerships , didn ' t return phone calls . a person at his office in houston yesterday said mr . kopper was traveling . in response to questions about chewco , an enron spokesman would say only that " michael kopper was never an executive officer of enron . " mr . fastow repeatedly has declined interview requests . he severed his relationships with the partnerships in july .
this statement is an apparent reference to sec disclosure regulations regarding related - party transactions . under sec rule s - k , a company has to report any transaction that exceeds $ 60 , 000 and involves " any director or executive officer . " by contrast , mr . fastow , as cfo , would have fallen into that category , but mr . kopper , as managing director of a business unit , presumably wouldn ' t have .
however , reporting guidance issued by the financial accounting standards board seems to have a broader definition , one that might include mr . kopper . according to fas statement 57 , a related - party transaction involves a " material " piece of business between the company and a member of management . the statement defines management as directors , top officers , vice presidents in charge of major business units and " other persons who perform similar policy - making functions . persons without formal titles may also be members of management . "
copyright ? 2000 dow jones & company , inc . all rights reserved .
deals & deal makers : enron officials sell shares amid stock - price slump
by theo francis and cassell bryan - low
staff reporters of the wall street journal
10 / 26 / 2001
the wall street journal
cl 4
( copyright ( c ) 2001 , dow jones & company , inc . )
officials at enron corp . , whose unusual transactions with its chief financial officer are under regulatory scrutiny , have steadily sold sizable amounts of their holdings of company stock as the share price has fallen this year .
corporate officials had sold 1 . 8 million shares valued at about $ 106 million through july , as the stock fell to less than $ 45 a share from $ 83 at the start of the year . since july , the stock has plummeted an additional 63 % to $ 16 . 35 , including a 50 % plunge since the beginning of last week .
kenneth lay , chief executive of the houston energy - trading company , cashed in shares for $ 25 . 7 million so far this year , usually in transactions paired with options exercises . he sold 429 , 614 shares , leaving him with some 2 . 8 million shares as of july , the latest data available on his sales , according to thomson financial / lancer analytics .
the dollar amount for his 2001 sales is approaching the total for all mr . lay ' s sales of enron shares for 2000 , which reached $ 30 . 7 million . in 1999 , he sold shares for a total of $ 26 million .
in houston , an enron spokeswoman declined to comment on the figures , saying the company doesn ' t keep a running tally of stockholdings by corporate officials . enron also wouldn ' t comment on the number of options held by company insiders and called the sales " a personal decision . " many sales by enron insiders were concurrent with options exercises or sales followed soon after option exercises .
strong selling by company officers and directors amid share - price declines should raise red flags for investors , says jonathan moreland , research director of insiderinsights . com , who uses insider - trading data to zero in on investment ideas .
among other insiders selling during the year , kenneth rice , former chairman and ceo of enron ' s broadband unit , sold shares for $ 23 . 7 million . mr . rice has sold 456 , 966 shares of the 1 . 5 million shares he was listed as owning in enron ' s march proxy filing . former enron chief executive jeffrey skilling - - who resigned in august - - sold 160 , 000 shares for $ 9 . 8 million during the year . in march , mr . skilling owned 1 . 9 million shares .
messrs . rice and skilling couldn ' t be reached to comment .
overall , enron ' s insiders were busier selling shares last year , when they sold 5 . 8 million shares for about $ 449 million . during 1999 , insiders sold 3 . 4 million shares for $ 123 . 1 million .
since december 1999 , only one enron executive has reported buying company shares . the buyer was andrew fastow , who was ousted during the week as enron ' s chief financial officer after the company disclosed it was under a securities and exchange commission investigation into financial ties between the company and mr . fastow .
mr . fastow reported purchasing 10 , 000 enron shares in august at $ 36 . 98 each , or a total of $ 369 , 800 . today , those shares are valued at $ 163 , 500 , based on enron ' s stock price of $ 16 . 35 in 4 p . m . new york stock exchange composite trading . after the purchase , mr . fastow owned 110 , 586 shares , thomson financial / lancer analytics says .
enron said mr . fastow wasn ' t available to comment .
on monday , a new york law firm filed suit in u . s . district court in houston , alleging that enron misrepresented its performance by failing to disclose problems with its broadband division and failing to properly write down the value of investments in limited partnerships managed by mr . fastow . the suit , which seeks class - action status , also says enron insiders sold $ 73 million of their own enron holdings during parts of 2000 and 2001 .
copyright ? 2000 dow jones & company , inc . all rights reserved .
credit markets
enron ' s financial troubles reverberate to bonds with poor liquidity and credit - rating concerns
by jathon sapsford and suzanne mcgee
staff reporters of the wall street journal
10 / 26 / 2001
the wall street journal
cl 5
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - - enron corp . ' s bonds have held up better than its battered stock amid escalating financial woes at the energy - trading powerhouse .
not for long , some bond traders say .
in trading yesterday , the houston company ' s five - year bond , a $ 250 million issue due in july 2006 carrying a coupon of 6 . 4 % , was quoted at 82 cents on the dollar , down from a bid of 88 late wednesday , and representing a 16 % drop during the past two weeks .
that is far less than the 50 % decline in enron ' s stock price since the oct . 16 disclosure of a $ 1 . 01 billion charge linked to soured investments , resulting in a $ 618 million third - quarter loss . but the fall in the bond ' s price translates to a yield of 7 . 7 percentage points above bellwether u . s . government bonds , which is a widening from about three percentage points two weeks ago . although enron still is an investment - grade credit , that kind of " spread " is more characteristic of a junk bond with a credit rating of single b or lower .
enron sought to assure the markets that its finances were sound , disclosing late yesterday that it drew down more than $ 1 billion on its bank credit lines to shore up its finances . yet even as enron was tapping its lifeline , investors were finding it difficult to trade big blocks of enron bonds . yesterday ' s 82 bid , for instance , was for a block of less than $ 2 million in bonds , a small percentage of a typical trade .
fueling the uncertainty surrounding enron were fears that credit - rating concerns will lower ratings on enron debt after it recently conceded a slew of troubles , including losses , a securities and exchange commission investigation , and the sudden resignation of its chief financial officer .
" even at these levels , there ' s very little buying interest , " said harold rivkin , a principal at distressed - debt trader h . rivkin & co . in princeton , n . j .
in one sign of the ripple effects , the price investors pay to protect themselves from losses on enron debt was surging . the cost of a " default swap " - - in which an investor pays another investor to take a chunk of debt at face value in the event of default - - rose to 10 % of the size of the credit being insured . that was up from 8 % a day earlier , and more than holders of lucent technologies inc . debt had to pay at the height of that technology company ' s troubles earlier during the year .
even with its woes , enron remains an investment - grade company . most credit - rating agencies rate enron ' s senior unsecured debt at several notches above the noninvestment - grade level .
yet fitch said yesterday it put enron ' s credit rating on watch for a possible downgrade , following a similar move by moody ' s investors service last week . ( standard & poor ' s , a division of mcgraw hill cos . , stopped short of putting the company on its creditwatch list , opting instead to revise its long - term ratings outlook to " negative , " citing concerns about the company ' s financial flexibility . )
meanwhile , the weak bond prices are a sign that the markets are bracing for the worst . " these are investment - grade bonds that are migrating toward distressed levels , " said glenn reynolds , an analyst at credit sights inc . , an independent fixed - income research firm in new york . " they aren ' t distressed yet , but they are headed in that direction . "
if enron ' s credit ratings fall , it would have implications far beyond the company ' s ability to raise money . for an energy trader , a credit downgrade sends a signal to other participants in crucial markets about its ability to make good on its commitments .
enron makes markets in a variety of commodities . though it is best known for trading electricity and natural gas , the company also is a huge force in the markets for other commodities such as lumber , metals , bandwidth capacity and steel . as a market maker matching buyers and sellers , enron handles about a quarter of all the trading in the nation ' s energy and gas markets .
enron ' s credit - worthiness is hugely important . the better its credit rating , the cheaper it can hedge , or offset , its positions in all these commodities markets through derivatives and pass on savings to customers . without that credit rating , the cost of this high - margin , high - volume business starts to rise . a derivative is an instrument whose value is linked to , or derived from , that of an underlying security or asset , such as a stock , bond or commodity .
" even if the company does retain its investment - grade rating , the perception that this might be at risk will start to affect their core businesses , " said mr . reynolds at credit sights inc . " any prudent risk [ manager ] at enron ' s counterparties " - - any institution on the other end of a financial agreement with enron - - " is going to be examining their exposure to enron , and looking for ways to minimize it or offset it , " mr . reynolds said .
to be sure , enron , despite its recent woes , remains a strong company , credit analysts said . " i don ' t think anyone ' s seriously thinking that this is a company that would ever default , " mr . reynolds said .
" so far , our research shows that their counterparties and their banks are sticking with them , " said ron barone , managing director of standard & poor ' s utility energy project finance group . " no one has cut credit lines or asked for additional collateral that we have identified . and customers have publicly stated that it ' s business as usual . "
yet analysts say the arrival of distressed - debt traders on the scene could make life more difficult for enron and its management . traders expect enron ' s new chief financial officer jeffrey mcmahon and chairman kenneth lay to make the rounds of wall street next week , meeting with rating agencies , debt - trading desks , big bond holders and banks , including j . p . morgan chase & co . and citigroup inc .
treasurys
treasurys rallied on optimism that the federal reserve may cut interest rates more than previously expected after a spate of economic reports that documented how weak the economy was after the sept . 11 terrorist attacks .
prices also gained as the market finished digesting the week ' s flood of treasury , corporate and agency debt issues .
at 4 p . m . edt , the benchmark 10 - year treasury note was up 13 / 32 point , or $ 4 . 0625 per $ 1 , 000 face value , at 103 20 / 32 . its yield fell to 4 . 537 % from 4 . 588 % wednesday , as yields move inversely to prices .
the 30 - year treasury bond ' s price was up 22 / 32 point at 101 11 / 32 to yield 5 . 284 % , down from 5 . 330 % wednesday .
fed policy makers are slated to meet on nov . 6 . also providing support for longer maturities , the treasury department made another repurchase of issues outstanding . it received offers for $ 5 . 04 billion in callable 30 - year bonds , of which it accepted $ 1 billion . the offer - to - cover ratio , an indication of demand , was 5 . 04 .
treasury buyback
par par high wtd avg
coupon mat amt amt accept accept
% date offer accept price price
7 . 125 02 / 23 807 0 n / a n / a
11 . 750 02 / 10 235 0 n / a n / a
10 . 000 05 / 10 490 0 n / a n / a
12 . 750 11 / 10 471 0 n / a n / a
13 . 875 05 / 11 104 0 n / a n / a
14 . 000 11 / 11 203 0 n / a n / a
10 . 375 11 / 12 587 0 n / a n / a
12 . 000 08 / 13 974 0 n / a n / a
13 . 250 05 / 14 473 0 n / a n / a
12 . 500 08 / 14 725 39 3152 . 20 152 . 19
11 . 750 11 / 14 7826 0 7148 . 25 148 . 13
amounts in millions , prices in decimals .
* amount outstanding after operation . calculated using amounts
reported on announcement .
corporate bonds
motorola inc . ' s offering of three - year mandatory convertible securities , expected late yesterday was boosted from a planned $ 875 million and could total as much as $ 1 . 15 billion ( proceeds ) if investors exercise their overallotment option .
the securities were expected to have a dividend of between 6 . 75 % and 7 % and a conversion premium of 20 % to 22 % . earlier indications were a dividend of 7 % to 7 . 5 % and a conversion premium of 18 % to 22 % . the deal was to come through goldman sachs , j . p . morgan chase and salomon smith barney .
separately , lsi logic corp . repriced an offering of $ 450 million of five - year convertible subordinated notes , lowering the price to 99 from par , people familiar with the rule 144 a private placement said .
the notes have a 4 % coupon and a 41 % conversion premium and now offer a yield - to - maturity of 4 . 22 % . they were quoted lower at 98 1 / 2 early yesterday , a sign that the deal wasn ' t well - received after being brought overnight by lehman brothers .
- - -
john parry and tom barkley contributed to this article .
copyright ? 2000 dow jones & company , inc . all rights reserved .
heard on the street
most analysts remain plugged in to enron
by susanne craig and jonathan weil
staff reporters of the wall street journal
10 / 26 / 2001
the wall street journal
cl
( copyright ( c ) 2001 , dow jones & company , inc . )
enron : rarely have so many analysts liked a stock they concede they know so little about .
in recent years , wall street researchers have been overwhelmingly - - critics would say blindly - - enthusiastic about enron , even as they acknowledge not always understanding the complex financial transactions that accounted for its soaring profits . now , enron is reporting steep losses from some of its most complicated transactions , which many on wall street still can ' t figure out .
in a research note wednesday , goldman sachs analyst david fleischer conceded that scant corporate disclosure at the houston energy trader makes it difficult to value the company . the company ' s " lack of disclosure and transparency , " he says , is " a longstanding enron hallmark . "
so is this a stock to avoid , in his view ? hardly . goldman on wednesday did bump enron off its " u . s . select list , " which consists of a few dozen top stock picks - - but mr . fleischer continued to keep the stock on the firm ' s larger but prestigious " recommended list " of 200 or so favored stocks , where it has been since he joined goldman in 1993 .
" just because i can ' t be specific in being able to create a simple model . . . doesn ' t mean that you write off that industry and say ` i can ' t analyze it ' or ` i can ' t figure it out , ' " says mr . fleischer , who owns an undisclosed number of enron shares . " if that were the case , there would be an awful lot of industries we couldn ' t follow . "
enron ' s shares have dropped about 50 % since last week .
" every sell - side analyst we spoke to early in 2001 admitted that this was a black box , " says jim chanos , principal of kynikos associates in new york , who has been selling enron stock short - - trading it with an eye to profiting from its fall - - throughout this year . " it was really a trust - me story , when all the evidence was mounting that there was reason to question that level of trust . "
true , no stock picker is immune from bad calls . and wall street analysts long have been criticized for their overwhelmingly bullish bias , particularly on stocks in hot sectors with lots of investment - banking deals to be had .
but enron stands apart , precisely because so many of the analysts still recommending the stock have acknowledged that the company ' s disclosure practices are lacking . which raises the question : how can an analyst recommend that others purchase a stock when key information about the company ' s operations is so often either unavailable or indecipherable ?
concerns about the way that enron runs its business aren ' t new . many of the issues now plaguing enron ' s stock were first raised more than a year ago by bearish hedge - fund managers and independent accounting experts . yet time and again , wall street analysts dismissed as unimportant many of the lingering questions about the company ' s various partnership transactions .
besides those partnerships , enron also has been dogged by concerns about the secretive valuation techniques it uses to record its assets and earnings .
through it all , most analysts have stuck by this onetime stock - market darling , publicly dismissing questions about the firm ' s accounting practices and level of disclosure . as of yesterday , of the 17 analysts who following the stock , 10 had a " strong buy " or equivalent rating on the stock , according to thomson financial / first call . five others rated the stock a " buy , " though not strongly .
only prudential securities , which downgraded the stock this week , has a " sell " rating on enron .
the bullish treatment is the latest and one of the most high - profile examples of wall street taking a glass half - full stance , despite what in retrospect seems to be ample warning that a less - enthusiastic approach was warranted .
over the past year in the wake of the nasdaq composite index ' s general collapse , analysts have been widely assailed for a lack of independence - - particularly those who , like goldman ' s mr . fleischer , own shares in the companies they cover . regulators have raised concerns that analysts have compromised themselves to help their firms land lucrative investment - banking fees and other revenue .
enron has spread the wealth across many wall street firms . for instance , for one $ 865 million equity offering in 1999 led by ` credit suisse first boston , enron retained seven co - managers , including donaldson lufkin & jenrette , lehman brothers and merrill lynch .
" enron is a big company , and i don ' t think you ' re going to find a firm that hasn ' t been involved , " says credit suisse first boston analyst curt launer , who still rates the stock a " strong buy " with a $ 40 price target . " they pay a lot of investment - banking fees to wall street . "
he adds , " we do our analysis every day based on the information we have . are we here strictly to defend companies ? that ' s ludicrous . we ' re here to provide information to investors . . . . yes , i have the wrong recommendation on the stock . i don ' t think my analysis has been as wrong as the stock has performed . "
mr . fleischer , whose firm also has served as an investment banker to enron , calls his holding " a meaningful investment " that is " not small . " but he disputes any suggestion that his objectivity is compromised . mr . fleischer says his clients " are happy to know " he has a stake in enron , because it shows he puts his money where his mouth is .
in his research note wednesday , mr . fleischer called for complete disclosures of enron ' s off - balance sheet partnerships . despite the resulting difficulty he acknowledged facing in developing financial models for the company , he wrote that he and many other investors historically " have given enron the benefit of doubt because of its strong growth in earnings " and position as an industry leader .
" there ' s not information to really model this and be able to predict accurately where revenues are going to come from and where they ' re going to make their money , but every quarter they do , " he says . " it ' s hard to get inside to know all the transactions , but they do deliver . "
csfb ' s mr . launer also has been a longtime defender of the company , occasionally issuing research reports to rebut critical stories about enron in the financial press . on monday , he wrote that he expects questions about enron ' s partnerships and accounting disclosures to continue , but that he remains " confident in the businesses and operating growth prospects for [ enron ] and an ultimate recovery in the share price . "
" i know i ' m wrong on the stock , " mr . launer says . but he says that at these prices , he isn ' t ready to throw in the towel because he figures that even in a worst - case scenario - - under which he envisions enron having to issue as much as $ 2 billion worth of shares , diluting current holders - - the stock doesn ' t have much further to fall .
clearly , messrs . launer and flesicher aren ' t alone . " even in relative terms , analysts remain very bullish on this stock , " says chuck hill , director of research at thomson financial / first call . the average rating for a stock on wall street is 2 . 2 , or slightly shy of a " buy " rating . enron scores a 1 . 6 . " this may turn into a classic case of locking the barn door after the bad news is out , " mr . hill says .
in downgrading the stock this week , prudential analyst carol coale bumped it to " sell " from " buy , " with a brief stop at " hold . " while she is the only analyst to recommend investors sell the stock , she openly concedes her recent downgrades come " too little , too late . "
ms . coale says enron has been difficult to cover for years . she says the company ' s disclosure practices fall far short of ideal , and senior executives are often evasive , even when presented with direct questions . for instance , she says three weeks ago she asked enron management if the company was under investigation by the securities and exchange commission . they said " no , " she says .
in light of the company ' s acknowledgment this week of an sec " inquiry , " she asked enron about the previous denial . " they told me it is an inquiry , not an investigation , " she says . an enron spokeswoman says the company learned of the sec ' s inquiry only last wednesday .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron draws down $ 3 bln in credit to boost investor confidence
2001 - 10 - 26 08 : 52 ( new york )
enron draws down $ 3 bln in credit to boost investor confidence
houston , oct . 26 ( bloomberg ) - - enron corp . , whose stock has
fallen on concern about the largest energy trader ' s transactions
with affiliates , drew down $ 3 billion in credit to restore
confidence in its financial strength .
the houston - based company will use about $ 2 . 2 billion to pay
off commercial paper obligations and keep the rest as cash ,
spokesman mark palmer said .
` ` nothing instils confidence like cash , ' ' he said .
enron ' s shares have dropped 52 percent in the past 10 days as
investors worry that the company ' 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 .
investors say they are worried about $ 3 . 3 billion in
liabilities from affiliates formed to buy and sell enron assets .
enron ousted chief financial officer andrew fastow on wednesday
amid a securities and exchange commission inquiry into
partnerships he ran that cost the company $ 35 million .
jeff mcmahon , head of enron ' s industrial markets group , was
named cfo in a bid to restore investor confidence , chairman and
chief executive officer kenneth lay said in a statement .
enron shares fell 6 cents to $ 16 . 35 yesterday .
- - mark johnson in the princeton newsroom ( 609 ) 750 - 4662 , or at
enron liked by analysts despite complicated dealings , wsj says
2001 - 10 - 26 06 : 12 ( new york )
houston , oct . 26 ( bloomberg ) - - enron corp . is liked by many
wall street analysts despite lingering questions about the power
trading company ' s complicated partnership transactions and the
techniques used to record earnings , the wall street journal
reported in its ` ` heard on the street ' ' column .
goldman sachs group inc . analyst david fleischer , who owns an
undisclosed number of enron shares , said that even though
inadequate corporate disclosure makes it difficult to value the
company , that doesn ' t mean he will write off the industry or not
analyze enron .
of the 17 analysts who follow the stock , 10 had a ` ` strong
buy ' ' or equivalent rating , according to thomson financial / first
call , the paper said . five rated it ` ` buy ' ' and one had a ` ` sell ' '
on enron .
most analysts have stuck by the company , publicly dismissing
questions about enron ' s accounting practices and level of
disclosure , the journal said .
the securities and exchange commission is inquiring about
partnerships run by former chief financial officer andrew fastow .
enron draws down $ 3 billion from its credit lines , wsj reports
2001 - 10 - 26 00 : 28 ( new york )
new york , oct . 26 ( bloomberg ) - - enron corp . drew down about
$ 3 billion of its available credit , the bulk of its bank credit
lines , to restore confidence in the financial strength of the
company , the wall street journal reported .
the energy trading company , whose shares have fallen 52
percent since oct . 16 , will use part of the money to redeem about
$ 1 . 85 billion short - term commercial debt , the wall street journal
reported , citing an unidentified person familiar with the matter .
enron is talking to banks about a new , multi - billion line of
credit , the paper reported , citing the unidentified person . the
steps are seen as an effort by the energy trader to ensure that it
has adequate liquidity in case its access to bank credit is
disrupted , the paper said .
enron said in a statement distributed by pr newswire that it
drew on its credit lines to provide more than $ 1 billion in cash
liquidity . the steps come a day after chief financial officer
andrew fastow resigned amid a securities and exchange commission
probe of partnerships he ran .
- - william selway in the san francisco newsroom at ( 415 ) 743 - 3511 ,
oct . 25 , 2001 , 11 : 22 pm
houston chronicle
action by enron halts stock ' s fall
but credit ratings are being reviewed
by laura goldberg
copyright 2001 houston chronicle
the recent freefall of enron corp . ' s stock price stabilized thursday , a day after the world ' s largest energy trader replaced its chief financial officer .
enron , under a cloud for a number of reasons , including an securities and exchange commission inquiry , also made two announcements thursday night aimed at reassuring the financial community .
in the announcements , enron said it had drawn more than $ 1 billion from its lines of credit and said that energy - trading business done through enrononline on thursday was above average levels .
houston - based enron banked the money and has no plans to spend it , a spokeswoman said .
" we are making it clear that enron has the full support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments in the ordinary course of business , " jeff mcmahon , who took over wednesday as chief financial officer , said in a written statement .
enron said it recorded more than 8 , 300 transactions through enrononline on thursday .
ken lay , chairman and chief executive officer , said : " enron continues to be the market - maker of choice in wholesale and gas power markets , our customers continue to put their confidence in us , and our core businesses are strong and performing well . "
earlier thursday , two credit rating agencies took actions regarding enron ' s ratings , which j . p . morgan securities analyst anatol feygin described as " just more negative sentiment . "
at one point in thursday morning trading on the new york stock exchange , shares in enron were up more than $ 1 . 50 , but they closed down 6 cents at $ 16 . 35 . as recently as oct . 16 , the stock closed at $ 33 . 84 .
before the market closed , international credit - rating agency fitch put enron , which currently holds investment - grade credit ratings , on review for a possible downgrade . then after the market closed , standard & poor ' s took two steps : it affirmed enron ' s current ratings , but it also revised its long - term ratings outlook to negative .
moody ' s investors service put all of enron ' s long - term debt on review for potential downgrade last week .
enron , which noted that losing its investment - grade rating would take downgrades of three notches , said thursday it will do everything in its power to defend its current rating .
in the sec inquiry , federal securities regulators are reviewing transactions between enron and two private investment partnerships formerly run by andrew fastow , who was removed as enron ' s chief financial officer wednesday . enron removed fastow as part of its bid to repair its damaged credibility .
wall street is also questioning certain of enron ' s financing vehicles and is wondering whether the company will face hits to its balance sheet in the months ahead .
s & p said it was concerned that the sizable drop in enron ' s market capitalization has negatively affected its financial flexibility and could hurt the company ' s plans to rebuild its balance sheet .
but it also noted that the " fundamental strength " of enron ' s energy marketing and trading business has remained steady .
unless enron ' s rebuilds confidence among investors and business partners , fitch said , it could " impair enron ' s financial flexibility and access to capital markets , " which would hurt its ability to conduct business .
carol coale , an analyst at prudential securities in houston , said the actions by s source : world reporter ( tm )
battered corporate america will receive an immediate dollars 25 bn ( pounds 18 bn ) tax rebate under a dollars 100 bn eocnomic stimulation package just approved by the republican - controlled house of representatives .
the controversial package , worth an estimated dollars 212 bn over three years , includes dollars 70 bn for companies next year alone . it was approved by the house late on wednesday by 216 votes to 214 , but faces significant amendment in the senate , which is now under democrat control .
it has reopened a wide ideological rift between republicans , who favour corporate and individual tax cuts to reboot an economy mired in recession , and democrats - who , in a reprise of the roosevelt " new deal " , prefer to see increased public spending on unemployment and infrastructure projects .
liberal lobby groups such as the citizens for tax justice and the center on budget and policy priorities claim the bill would hand back dollars 6 . 3 bn to the 14 biggest corporations - which , they say , are renowned for paying little or no tax .
the most hotly contested measure is the repeal of the corporate alternative minimum tax , or amt , introduced in 1986 to make sure firms could not avoid all tax payments . this , strongly supported by president bush , would be made retroactive so that all amt payments would be refunded .
the lobby groups and the non - partisan congressional research service calculate that this would give a dollars 1 . 4 bn boost to computer group ibm alone , while general motors would get back dollars 833 m and general electric dollars 671 m .
others to benefit include txu , the texas - based utility that is the us ' s third largest energy supplier , which would would be given dollars 608 m . united airlines , the us ' s second largest carrier - which is warning of bankruptcy - would receive dollars 371 m , and enron , the energy trading group forced to sack its finance director this week , would be given dollars 254 m .
democrat leaders in the senate are determined to erase this measure and dislike other proposals to boost firms , which include a 30 % tax break for capital investment over three years worth dollars 39 . 3 bn this year alone . they say these amount to a " giant corporate giveaway " .
mr bush and other republican leaders argue these fiscal concessions would help companies making hundreds of thousands redundant avoid further lay - offs and invest more , prompting an economic recovery that , at best , is likely to start in the new year .
" businesses are america ' s employers . they ' re the hardware store , the diner down the street , the gas station on the corner . they ' re not the enemy of working families , " the author of the plan , representative bill thomas of california , said .
democrats are especially incensed with the alleged paucity of the package ' s provisions for the growing numbers of jobless , arguing that much of the dollars 12 bn foreseen would not go to individuals but into the reserves of states .
* a fresh round of global trade talks is essential to revitalise the world economy after the terrorist attacks on the us , trade secretary patricia hewitt said yesterday , writes charlotte denny
as a new report predicted that global trade growth will collapse this year , ms hewitt warned that the world must not retreat into protectionism or isolationism in the wake of the attacks . wto trade ministers are gathering in doha , qatar , in two weeks ' time to discuss launching a new round of talks , the first since the collapse of their meeting in seattle , nearly two years ago .
full coverage of the downturn at www . guardian . co . uk / recession /
copyright ? 2000 dow jones section c
harvey pitt ' s s . e . c . : from guard dog to friendly puppy ?
by floyd norris
10 / 26 / 2001
the new york times
page 1 , column 2
c . 2001 new york times company
can the new , friendlier securities and exchange commission enforce the laws and assure investors that corporate financial reports are trustworthy ?
harvey l . pitt , the new s . e . c . chairman , set out this week to show that he is not like his predecessor , arthur levitt . in a speech to the american institute of certified public accountants - - an organization whose senior leadership led a bitter and ultimately unsuccessful fight against mr . levitt ' s reform efforts - - mr . pitt praised his listeners and took a few swipes at his predecessor .
from now on , he promised , ' ' the commission will make sound decisions , in a respectful , affirmative way , not in a demeaning , demanding or demonizing way . ' ' he spoke favorably of ' ' pro forma ' ' earnings reports , in ways that no doubt heartened accountants who have worked so hard to find ways to make even the worst profit figures look pretty . there was no mention of mr . levitt ' s concerns about improper management of earnings .
on the heels of mr . pitt ' s speech , the s . e . c . used a minor enforcement action to herald a policy of not cracking down on companies that come forward to report their own errors . the decision itself was reasonable , although one could wonder if top management did something wrong in failing to detect a fraud that went on for years . but the way the s . e . c . trumpeted it raised questions about whether the agency is turning into a friendly puppy rather than a guard dog . ' ' is this amnesty for financial fraud ? ' ' jane adams , the accounting analyst at credit suisse first boston and a former s . e . c . staff member , asked in a report to clients . she was not sure of the answer .
in an interview yesterday , mr . pitt dismissed such worries . ' ' no one is going to get away with anything , ' ' he said . ' ' what we are trying to do is create an environment where people feel comfortable ' ' and can talk to the s . e . c . ' ' without feeling we are looking for a big splash . ' '
a major embarrassment for accountants is having the s . e . c . force a client to restate its numbers . mr . pitt and his chief accountant , robert herdman , are sending signals that fewer such demands will be made . ' ' i am very much in favor of a vigorous enforcement program , ' ' mr . pitt said in the interview , ' ' but i am not in favor of having investors barraged by conflicting statements and restatements . ' '
mr . pitt talks of companies ' ' getting it right the first time , ' ' which would certainly be nice . but there is a risk that companies will become more aggressive in their accounting , figuring there will be no real penalty , like a restatement , if they are caught . that would make life harder for auditors who try to resist misleading accounting .
in trying to sound comforting to the accountants ' group - - an organization that , as he noted , he had represented as a lawyer for two decades - - mr . pitt has done little to reassure investors of his independence .
the proof , of course , will come in the performance . fortunately , the mess at enron gives the s . e . c . a golden opportunity to counter the puppy image . it will take time for the commission to determine if the company ' s accounting was proper . but there need be no delay in forcing enron to clearly explain - - rather than obfuscate as it has so far - - the strange deals it made with partnerships run by the executive just ousted as chief financial officer .
' ' this could , ' ' a former s . e . c . staff member said , ' ' focus the issue on whether companies can make completely correct but totally misleading disclosures . ' ' and it would indicate that this watchdog still has a bite .
photo : harvey l . pitt
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron draws down at least 1 bln usd from credit lines to boost mkt confidence
10 / 26 / 2001
afx news
( c ) 2001 by afp - extel news ltd
houston ( afx ) - enron corp said it drew on committed lines of credit to provide cash liquidity in excess of 1 bln usd as part of moves to restore market confidence in the company .
" we are making it clear that enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments in the ordinary course of business , " said newly appointed chief financial officer jeff mcmahon .
" this is an important step in our plan to restore investor confidence in enron . additionally , we will update investors over the next several days regarding our plans to maintain our long - term credit rating . "
according to the wall street journal , enron drew down about 3 bln usd and will use part of the money to offer to redeem about 1 . 85 bln usd of outstanding commercial paper , with the remainder providing the energy concern with a cash cushion . the newspaper cited a person familiar with the matter .
it quoted observers as saying the move may be is a pre - emptive step by enron to ensure that it had adequate liquidity should its access to bank lines be interrupted .
the source also said enron is talking to its banks about a new , multi - billion - dollar credit line .
jms for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones let ' s have a comfortable war
sure , we ' re at war with a band of cave - dwelling outlaws hell bent on our annihilation . but would all freedom - loving americans please go out and buy some dvd players ? maybe even a nice new car ?
that was basically the message from the treasury department , on news that congress had voted for the creation of war bonds to finance antiterrorism efforts and rebuilding following the attacks . officials at treasury applauded the sentiment , then politely suggested it would be even better for the economy if americans just went to stores and bought stuff . " the economy is perhaps our greatest asset as we move forward in these efforts to fight the war on global terrorists , " says betsy holahan , a department spokesperson . " war bonds are an additional way for americans to show their patriotism . "
for the record , we don ' t think an issue of war bonds would be dumb , just superfluous . after all , nothing ' s stopped americans from buying generic savings bonds - - or better yet , treasuries - - all of which finance spending by the federal government .
in the meantime , it ' s a little dislocating to hear politicians talk up war bonds - - which most people associate with hardship and sacrifice - - at the same time top economic gurus are practically begging people to shop . war bonds notwithstanding , we ' re a long way off from the era of ration books .
3 . enron again
last week , we noted the extent of alarm about enron ' s ( ene : nyse - news - commentary ) revelation that its shareholder equity had dropped $ 1 . 2 billion , following some unusual and possibly inappropriate high - level transactions . following that disclosure , besieged cfo andrew fastow has finally left the company on what ' s delicately termed a " leave of absence . "
in july , fastow exited a limited partnership , from which he had reportedly reaped large profits , after shareholders and analysts objected to his involvement . concerns about those dealings and others had increased in the wake of the disclosure about the charge to equity until even management acknowledged fastow would have to go as a prerequisite to restoring investor confidence .
but that won ' t be an easy task , given the resentment about enron ' s disinclination to explain its problems . one analyst called fastow ' s departure " unsettling , " noting that management had given the cfo its endorsement only the day before . sounding a note of exasperation , analysts at j . p . morgan chase , banc of america securities and prudential all downgraded the stock . and there could be more trouble to come : the securities and exchange commission has issued enron a letter of inquiry related to some of its transactions .
4 . gold diggers
it ' s understandable that investors felt panicky in september . unfortunately , some reacted by shoving their hard - earned money into gold funds . according to financial research corp . , which tracks fund flows , the specialty precious - metals category was the best - selling equity category during september , with net inflows of $ 101 million .
granted , that ' s not a huge sum in the mutual fund world . by comparison , during the same month , large growth funds saw net redemptions of $ 7 . 4 billion . but the fact that so many people are jumping into precious metals is noteworthy , given that gold funds have performed so badly for so long .
sure , under the bizarre circumstances of late , they ' ve enjoyed somewhat of a pop . according to morningstar , the average precious - metals fund is up 10 . 08 % year to date . but over the past five years , the same category lost an embarrassing 14 . 68 % . by comparison , even large - cap growth funds - - everybody ' s favorite whipping boy - - managed to post a positive return . in the same period , they were up 7 . 13 % .
moreover , circumstances that would seem to be the most favorable in decades - - a combination of attacks on the u . s . government and war - - still don ' t seem to have boosted gold prices significantly . despite an initial surge in prices after the terrorist attacks , they ' re again approaching their pre - sept . 11 levels . it ' s too early to say , but it ' s likely the gold bugs will confront disappointment once again .
5 . amazon amazes once again
amazon ( amzn : nasdaq - news - commentary ) still maintains it will become profitable by the fourth quarter . well , at least it will post a pro forma operating profit .
ok , so maybe that wouldn ' t include amazon ' s service on $ 2 . 17 billion in long - term debt or extraordinary charges . in fact , a pro forma operating profit is basically just an accounting concept that would lend a fuzzy , meaningless aura of minor triumph . the company still hasn ' t said when it will turn an economic profit .
for that matter , even the fourth - quarter prediction is iffy . after announcing the company expected to turn the pro forma operating profit , cfo warren jenson added the humble qualifier , " there are no guarantees . " amazon simultaneously lowered its forecast for fourth - quarter revenue , predicting that sales would be somewhere between flat and up by 10 % compared with a year ago .
third - quarter trends weren ' t encouraging . though sales overall were up slightly in the third quarter from a year ago , revenue from the company ' s core books and music business actually fell 12 % . at least the company has made progress in cutting costs : a spokesperson says pro forma operating expenses have decreased by 20 % over the past year .
incidentally , in the wake of amazon ' s earnings report , two analysts made the belated decision to cut their ratings on the stock , which has fallen 93 % from its high back in december 1999 . merrill lynch analyst henry blodget and sg cowen analyst scott reamer downgraded the stock to " neutral " from previous buy ratings . " we thought there might be upside to our estimates , " noted blodget . " there wasn ' t . "
financial
stocks post gains after a rough morning
associated press
10 / 26 / 2001
the washington post
final
eo 3
copyright 2001 , the washington post co . all rights reserved
new york , oct . 25 - - selected buying of technology and energy shares pulled the stock market higher today , reversing a morning slide triggered by a pair of grim economic reports .
shares of semiconductor makers and equipment manufacturers did particularly well , as did energy traders , led by a surprisingly strong performance from williams cos . , a tulsa - based energy firm that had an 83 percent jump in third - quarter net earnings .
the dow jones industrial average closed rose at 9448 . 78 , up 103 . 16 , reversing an earlier deficit of 167 points . the nasdaq composite index rose 36 . 29 , to 1767 . 83 , and the standard the american stock exchange index rose 5 . 10 , to 828 . 67 ; and the russell index of 2 , 000 small stocks rose 8 . 31 , to 435 . 96 .
* advancing issues outnumbered declining ones by 9 to 7 on the nyse , where trading volume rose to 1 . 38 billion shares , from 1 . 35 billion on wednesday . on the nasdaq , advancers outnumbered decliners by more than 3 to 2 and volume totaled 2 . 2 billion , up from 1 . 84 billion .
* the price of the treasury ' s 10 - year note rose $ 4 . 38 per $ 1 , 000 invested , and its yield fell to 4 . 54 percent , from 4 . 59 percent late wednesday .
* the dollar rose against the japanese yen and the euro . in late new york trading , a dollar bought 122 . 87 yen , up from 122 . 76 yen late wednesday , and a euro bought 89 . 25 cents , down from 89 . 42 cents .
* light , sweet crude oil for december delivery settled at $ 22 . 01 a barrel , up 32 cents , on the new york mercantile exchange .
* gold for current delivery rose to $ 277 . 80 a troy ounce , from $ 275 . 90 on wednesday , on the new york mercantile exchange ' s commodity exchange .
http : / / www . washingtonpost . com
copyright ? 2000 dow jones source : world reporter ( tm )
mumbai : retired supreme court judge sudhakar kurdukar will head the judicial panel set up by the maharashtra government to investigate into the controversial enron deal .
an announcement in this regard was made by chief minister vilasrao deshmukh at a press conference held at mantralaya on wednesday .
the ruling democratic front ( df ) coalition had differences over the appointment of the judge , with the nationalist congress party ( ncp ) demanding that a retired judge of the bombay high court head the judicial panel . the congress and the left front partners in the df , however , insisted on a supreme court judge .
the issue was hotly debated in the coordination committee of the df . the ncp members in the df finally left the decision to mr deshmukh .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity
10 / 25 / 2001
dow jones business news
( copyright ( c ) 2001 , dow jones & company , inc . )
embattled enron corp . drew down about $ 3 billion , the bulk of its available bank credit lines , in a bid to restore confidence in its financial strength and liquidity , friday ' s wall street journal reported .
enron ( ene ) will use part of the money to offer to redeem around $ 1 . 85 billion in outstanding commercial paper - - short - term corporate ious - - according to a person familiar with the matter , with the remainder used to provide a cash cushion . this person also said that enron was talking to its banks about a new multibillion - dollar credit line . some observers thought the moves were a pre - emptive step by enron to ensure that it had adequate liquidity should its access to bank lines be interrupted .
enron insists its business operation and financial condition remain strong . but " when the market is reacting as irrationally as it has been the last few days , we thought that cash was better than a commitment from a bank , " said an enron spokesman . in a prepared statement , the company ' s new chief financial officer , jeff mcmahon , said that by drawing down the bank lines , " we are making it clear that enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments . "
the move underscored the tumultuous conditions that have been sweeping over the houston energy - trading firm in the past 10 days . enron is the nation ' s largest energy trader and is a principal in nearly one - quarter of all electricity and natural - gas trades . thursday , for example , enron was involved in about $ 4 billion worth of deals through its enrononline unit .
since early last week , enron ' s share price has plummeted 50 % . it has reported a $ 618 million third - quarter loss and a reduction in shareholder equity of $ 1 . 2 billion . it also disclosed that the securities and exchange commission is conducting an inquiry into billions of dollars of transactions it did with entities run by its former chief financial officer , andrew s . fastow , who was replaced wednesday .
the draw - down of the credit facilities came as a major rating agency , fitch , put enron on review for a possible downgrade while standard & poors changed enron ' s credit outlook to negative from stable . moody ' s investors service has already said it is looking at a possible downgrade . in order to fall below investment grade , enron ' s credit rating would have to fall several notches .
if that were to happen , however , a host of bad consequences could follow . together with the sharp decline in its stock price , a noninvestment grade rating would throw the company into default on obligations involving billions of dollars of borrowings . in that event , enron could be forced to issue millions of shares of stock to holders of that debt , diluting the value of existing shares . as of 4 p . m . in new york stock exchange composite trading , enron shares were down six cents at $ 16 . 35 .
copyright ( c ) 2001 dow jones & company , inc .
all rights reserved .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron chief executive resigns from board of i 2 technologies
10 / 25 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
dallas ( ap ) - kenneth lay , the chairman and chief executive of embattled enron corp . , has resigned from the board of software company i 2 technologies .
" this is a very painful decision , " lay said in a statement issued thursday by dallas - based i 2 technologies . " but now that i am again taking on the ceo responsibilities at enron , i must reduce my outside activities . "
lay resumed the chief executive ' s job at enron in august after jeff skilling surprised investors by leaving the houston - based energy company .
enron officials did not immediately return calls from the associated press .
in the past week , enron has been rocked by questions surrounding partnerships that did business with enron while they were managed by the company ' s chief financial officer . the official was replaced on tuesday .
enron ' s stock price has fallen nearly 50 percent since interest in the partnerships intensified , and the company acknowledged that the u . s . securities and exchange commission was investigating the arrangements
i 2 makes software to help companies manage their supply chains , and its clients include texas instruments , ford motor co . and dell computer corp .
i 2 stock plunged nearly 25 percent on oct . 17 after the company reported a $ 5 . 53 billion third - quarter loss and said it would cut 1 , 000 jobs , about one - fifth of the work force .
lay joined the board in october 2000 . no replacement was announced .
in trading thursday , i 2 shares rose 24 cents to $ 4 . 95 , and enron shares fell 6 cents to $ 16 . 35 .
copyright ? 2000 dow jones & company , inc . all rights reserved .
as enron ' s woes unnerve investors about energy sector , analysts say its problems are isolated
by brad foss
ap business writer
10 / 25 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
new york ( ap ) - as it grew over the past decade into the country ' s largest natural gas and power marketing company , enron corp . became the de facto barometer of health within the energy trading sector .
wall street buoyed the stock prices of enron ' s competitors based in part on the huge success of the houston - based company ' s business model . now , executives and industry analysts hope to prevent enron ' s internal tumult and free - falling stock price from undermining investors ' confidence in the sector . they say the houston - based company ' s problems should be viewed in isolation and not as a broader indicator of the marketplace .
" the marketplace for natural gas and power trading is as vibrant as it was yesterday , a week ago or a month ago , " said jim donnell , president of duke energy north america , a division of duke energy corp . that generates and trades power .
that opinion appeared to gain acceptance on thursday as shares of dynegy inc . , el paso corp . and duke energy corp . rebounded from losses on wednesday , when enron ' s latest woes appeared to spill over into the stock prices of its rivals .
enron ' s stock has fallen about 50 percent in the past week ( and nearly 80 percent since january ) and analysts said its recovery is not expected anytime soon .
the latest troubles began oct . 16 when enron reported third quarter earnings , and a longtime concern among wall street analysts that executives were not entirely forthcoming only got worse .
first came reports that some of the company ' s losses stemmed from partnerships managed by enron ' s chief financial officer at the time , andrew fastow . that raised concerns about a potential conflict of interest and touched off an inquiry by the securities and exchange commission .
then on wednesday , one day after enron chairman kenneth lay defended fastow , the company ousted him and said he would take a leave of absence .
" they created an environment in which their credibility was put to the test and they didn ' t come through with flying colors , " said christopher ellinghaus , an analyst at williams capital group in new york .
enron shares have been falling all year for reasons new and old , which have little to do with the company ' s wholesale energy business , which accounts for roughly 80 percent of profits .
analysts insist wholesale energy marketing can be profitable even in the face of an economic downturn and falling natural gas and electricity prices .
" even though ( enron ) shot themselves in the foot , the basic business is still sound and not likely to disappear , " ellinghaus said .
ubs warburg analyst ronald barone echoed that sentiment .
" the collateral damage to the rest of the space - dynegy and el paso - is overdone , " barone said .
on thursday , williams companies inc . of tulsa , okla . , reported net income of $ 760 million and reliant resources inc . of houston reported $ 133 million in profits .
" it ' s business as usual , " said dynegy spokesman steve stengel .
not for enron , whose stock price began a steady descent 10 months ago when its nascent high - speed internet unit failed to live up to the hype . the downward momentum was further propelled by difficulties collecting money from power customers in india and the surprise departure in august of then - chief executive jeff skilling was considered another bad sign .
on oct . 16 , enron reported a net loss of $ 638 million in the third quarter , taking a one - time charge of $ 1 . 01 billion attributed to investment losses , troubled assets and unit restructurings . excluding the charge , enron earned $ 393 million on $ 47 . 6 billion in revenues for the three months ending sept . 30 .
ellinghaus said the stocks of enron ' s competitors were brought down wednesday because of " dire " speculation that enron ' s troubles might be so bad that it could have difficulty paying hundreds of millions of dollars worth of receivables to companies such as duke and dynegy .
" all i ' m hearing is doomsday type stuff and doomsday is not reality , " ellinghaus said .
enron did not return calls seeking comment thursday .
donnell of duke energy said the charlotte , n . c . - based company is paying close attention to the enron situation and that there has been no indication of receivables not being paid .
" they continue to be one of the best functioning companies as it relates to credit , " he said . " they ' ve never missed a deadline . "
ap graphic energy stocks
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron ' s credit outlook downgraded to negative by s & p ( updatel )
2001 - 10 - 25 18 : 59 ( new york )
enron ' s credit outlook downgraded to negative by s & p ( updatel )
( adds analyst comment in fourth paragraph . )
houston , oct . 25 ( bloomberg ) - - enron corp . ' s long - term
credit ratings outlook was changed to negative from stable by
standard & poor ' s after the largest energy trader ' s shares fell
49 percent in the past week .
s & p affirmed the houston - based company ' s ratings of
` ` bbb + / a 2 , ' ' which are investment grade .
the ratings company cited lost market capitalization and the
possibility that enron won ' t generate enough money from selling
assets outside the main trading business to repay debt . s & p did
say that ` ` the strategic direction of the company is likely to
become more credit - positive in the wake of recent management
changes . ' '
enron reported $ 1 . 01 billion in losses from investments
outside the principal business of trading commodities such as
electricity and natural gas . chief financial officer andrew
fastow resigned yesterday as the u . s . securities and exchange
commission asks for information about related - party transactions
he conducted .
` ` the s & p write up was very positive , ' ' said dorothea
matthews , an analyst at creditsights inc . , a research firm . ` ` it
seems that the ratings company went out of its way to tray and
calm things down . ' '
shares of enron fell 6 cents to $ 16 . 35 .
- - russell hubbard in the princeton newsroom , 609 - 750 - 4651 or
enron ' s trading partners say it ' s business as usual ( update 2 )
2001 - 10 - 25 19 : 38 ( new york )
enron ' s trading partners say it ' s business as usual ( update 2 )
( adds new enron cfo in 14 th paragraph . )
houston , oct . 25 ( bloomberg ) - - concerns enron corp . will run
short on cash haven ' t prevented commodities traders from doing
business with the largest energy broker , customers say .
the company handles about 25 percent of u . s . power and
natural - gas trading , said john kilduff , vice president of energy
risk management for fimat usa . it ' s also a leader in complex
derivatives that allow others to hedge against the risk of
fluctuating commodities prices .
enron ' s credit rating is on watch for possible downgrade at
moody ' s investors service , and standard & poor ' s lowered enron ' s
long - term credit outlook to negative after $ 1 . 01 billion in third -
quarter losses from some soured investments . the company needs
good credit to raise cash every day to keep trading partners from
demanding collateral and to settle transactions .
so far , there are no signs that houston - based enron is
handling less business , kilduff said .
` ` if they were unable to perform , it would be a major
problem , ' ' he said . ` ` it could get like long - term capital if
things really broke down because the numbers are that big . ' '
long - term capital management , a private investment fund for
the wealthy , incurred massive losses making bond trades during the
1998 russian currency crisis . the fund ' s portfolio plunged . more
than a dozen banks bailed out the fund at a cost of $ 3 . 6 billion
to avoid a collapse .
needs cash daily
enron trades electricity , natural gas , coal and other
commodities worldwide , as well as complex financial instruments to
hedge against price swings in the goods .
` ` as of now , enron is active in the markets , ' ' kilduff said .
` ` no one is cutting trading lines that i can see , or demanding
different terms than before . ' '
companies that trade as heavily as enron require cash every
day to settle positions , said kilduff , whose company swaps natural
gas and other energy investments with enron .
some days , fimat will bet that natural - gas prices will fall ,
while enron bets that they will rise . natural gas usually does one
or the other every day , and someone pays the difference .
` ` the liquidity of your trading partners is a risk factor , ' '
kilduff said . ` ` someone is paying someone else every day . ' '
enron said on a conference call tuesday that it has enough
money to operate normally , and can fall back on $ 3 . 4 billion in
bank credit lines if necessary . the company is determined to
protect the credit rating , enron has said .
` ` we aren ' t even going to entertain worst - case scenarios at
this point , ' ' said enron spokeswoman karen denne .
investor questions
enron , based in houston , ousted chief financial officer
andrew fastow yesterday , two days after the u . s . securities and
exchange commission began asking questions about partnerships he
ran that invested in company shares . those trades cost enron $ 35
million . jeff mcmahon , head of enron ' s industrial markets unit ,
replaced fastow , who went on leave of absence .
enron shares have fallen 49 percent in the past week . they
fell 6 cents to $ 16 . 35 today .
based on bloomberg composite ratings , most of enron ' s long -
term debt is rated at bbb 2 and bbbl , two or three levels above
investment grade . fitch , standard & poor ' s and moody ' s all rate
the company ' s debt at investment grade .
the company also faces questions from investors about $ 3 . 3
billion in potential liabilities from affiliated companies formed
to buy and sell enron assets such as power plants .
the affiliates owe payments to bond investors and plan to
meet them by selling assets . enron doesn ' t know if the sale
proceeds will cover the debt . the company would have to make good
on any shortfall .
little time
enron asked citicorp inc . on tuesday to arrange a $ 750
million loan to ensure access to credit if the company gets shut
out of the money markets .
enron had about $ 1 . 85 billion of commercial paper , or short -
term unsecured debt , outstanding as of tuesday , traders said . the
company , which has a $ 3 billion program , has had difficulty
finding buyers for new commercial paper sales since the sec
investigation was announced , the traders said .
today , enron offered two - week commercial paper at a 3 percent
yield , 10 to 15 basis points above comparably rated companies .
` ` there appears to be enough liquidity to give them enough
time to get their house in order , ' ' said jon kyle cartwright ,
senior energy credit analyst at raymond james in dry seasons , when the dams
can ' t operate as well , enron pays the district .
` ` if enron ' s credit went bad , or they folded up , that
agreement wouldn ' t get picked up by someone else , ' ' tracy said .
enron also helps many u . s . utilities protect themselves from
electricity and natural gas price fluctuations in the same way it
helps the sacramento utility district hedge against too little
rainfall . any impairment on enron ' s part to continue doing so
would trickle down to main street utilities , tracy said .
` ` utilities would start reserving more on their balance
sheets for price swings , ' ' tracy said .
- - russell hubbard in the princeton newsroom at 609 - 750 - 4651 , or at
enron broadband begins closing london , singapore offices
by erwin seba
of dow jones newswires
10 / 25 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones 713 - 547 - 9214 ; erwin . seba @ dowjones . com
copyright ? 2000 dow jones no calif pwr contract talks
10 / 25 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones 201 - 938 - 4604 ; mark . golden @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
spector , roseman & kodroff , p . c . files class action suit against enron corporation
10 / 25 / 2001
pr newswire
( copyright ( c ) 2001 , pr newswire )
philadelphia , oct . 25 / prnewswire / - - the law firm of spector , roseman ( ii ) that the company ' s operating results were materially overstated as result of the company failing to timely write - down the value of its investments with certain limited partnerships which were managed by the company ' s chief financial officer ; and ( iii ) that enron was failing to write - down impaired assets on a timely basis in accordance with gaap . on october 16 , 2001 , enron surprised the market by announcing that the company was taking non - recurring charges of $ 1 . 01 billion after - tax , or ( $ 1 . 11 ) loss per diluted share , in the third quarter of 2001 , the period ending september 30 , 2001 . subsequently , enron revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships which were controlled by enron ' s chief financial officer and that the company would be eliminating more than $ 1 billion in shareholder equity as a result of its unwinding of the investments . as this news began to be assimilated by the market , the price of enron common stock dropped significantly . during the class period , enron insiders disposed of over $ 73 million of their personally held enron common stock to unsuspecting investors .
if you purchased enron securities during the class period , you may , no later than december 21 , 2001 , move to be appointed as a lead plaintiff in this class action . a lead plaintiff is a representative , chosen by the court , that acts on behalf of other class members in directing the litigation . the private securities litigation reform act of 1995 directs courts to assume that the class member ( s ) with the " largest financial interest " in the outcome of the case will best serve the class in this capacity . courts have discretion in determining which class member ( s ) have the " largest financial interest , " and have appointed lead plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth . if you have sustained substantial losses in enron securities during the class period , please contact spector , roseman & kodroff , p . c . at classaction @ srk - law . com for a more thorough explanation of the lead plaintiff selection process . if you have relatively small losses , your ability to participate in any recovery will be protected by the lead plaintiff ( s ) , and you need take no affirmative steps at this time .
if you wish to discuss this action or have any questions concerning this notice or your rights or interests , please contact plaintiff ' s counsel robert m . roseman toll - free at 888 - 844 - 5862 or via e - mail at classaction @ srk - law . com . for more detailed information about the firm please visit its website at http : / / www . spectorandroseman . com .
spector , roseman & kodroff , p . c . , located in philadelphia , pennsylvania and san diego , california , concentrates its practice in complex litigation including actions dealing with securities laws , antitrust , contract and commercial claims . the firm is active in major litigation pending in federal and state courts throughout the united states . the firm ' s reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws , and consumer fraud . as a result of the efforts of the firm , and its members , hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies .
make your opinion count - click here
/ contact : robert roseman of spector , roseman & kodroff , p . c . , + 1 - 888 - 844 - 5862 / 19 : 00 edt
copyright ? 2000 dow jones & company , inc . all rights reserved .
tgs q 3 net profit up 22 pct yr - on - yr on higher ngl sales , transport revenues
10 / 25 / 2001
afx news
( c ) 2001 by afp - extel news ltd
buenos aires ( afx ) - perez companc sa and enron corp pipeline joint venture , transportadora de gas del sur sa , said its net profit in the three months to september rose 22 pct year - on - year to 37 mln pesos on the back of strong growth in sales of natural gas liquids ( ngl ) and increased revenue from transport .
total revenue grew 24 pct year - on - year to 147 mln pesos , as " tgs continues to grow its revenues in all of its business segments , " ceo eduardo ojea quintana said .
ngl sales surged 86 pct year - on - year to 31 . 1 mln pesos , after a partial takeover of the cerri complex ' s production at bahia blanca , although volumes declined as a result of the start - up of the mega project at the beginning of 2001 , ojea quintana said .
gas transport revenue rose 11 pct year - on - year to 109 . 6 mln pesos as average gas transportation contracted capacity rose 6 pct to 62 . 5 mln cubic metres daily , following a capacity expansion completed in june .
however , he also noted " important challenges , mostly associated with the relevant regulatory issues that remain unresolved , as well as the deep economic crisis that argentina is currently undergoing . "
" these negative factors have adversely affected our investment plans for the current year and for 2002 , " ojea quintana added .
lac / zr for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron draws down credit facility
10 / 25 / 2001
dow jones news service
( copyright ( c ) 2001 , dow jones & company , inc . )
houston - ( dow jones ) - enron corp . ( ene ) drew on committed lines of credit to provide cash liquidity of more than $ 1 billion .
in a press release thursday , the energy company said it has " more than adequate " liquidity to fulfill business commitments .
enron said the credit action is a step to restore investor confidence , and it plans to update investors in several days regarding plans to maintain its long - term credit rating .
earlier thursday , standard dow jones newswires ; 201 - 938 - 5388
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron employees watch options devalue as shares fall ( correct )
2001 - 10 - 25 18 : 41 ( new york )
enron employees watch options devalue as shares fall ( correct )
( company corrects structure of standard compensation package
in second paragraph . )
houston , oct . 25 ( bloomberg ) - - enron corp . prided itself on
sharing the wealth with employees when the company was posting
record profits last year . now , from the boardroom to the mailroom ,
employees are sharing the pain .
enron , the largest energy trader , grants stock options to the
bulk of its 20 , 000 employees . under enron ' s standard compensation
package , most employees get stock options equal to
5 percent of their annual base salary , spokeswoman meredith
philipp said .
employees held 46 . 8 million exercisable options as of the end
of 2000 , all at average prices above the company ' s current share
price . the stock has dropped 80 percent this year .
` ` virtually every option is under water right now , ' ' enron
spokeswoman karen denne said .
enron ' s board sets the strike price for the options in
december or january . employees can ' t cash the options in and make
a profit unless the stock is trading above the strike price . at
the end of 2000 , enron shares were trading at $ 83 . 13 . in december ,
the board set a strike price of about $ 80 .
shares of houston - based enron fell 6 cents to $ 16 . 35 today .
they have lost 37 percent of their value so far this week .
enron said monday that the securities and exchange commission
was asking questions about partnerships run by andrew fastow , who
was ousted as enron ' s chief financial officer yesterday . one
partnership cost the company $ 35 million , and enron bought back 62
million shares from a partnership at a cost of $ 1 . 2 billion .
enron named jeff mcmahon , head of its industrial markets
group , as cfo late yesterday .
unvested options
another 96 . 1 million options granted to enron employees
hadn ' t vested as of the end of last year . about 15 . 4 million of
them , or 16 percent , were at prices ranging from $ 6 . 88 to $ 20 a
share . the rest vest at levels well above the current share price .
experts who have watched the devaluation of stock options in
other industries , such as technology and telecommunications , say
it becomes demoralizing for workers to watch share prices fall
below their options .
` ` it looks bad , ' ' said mark edwards , chairman of iquantic
buck , a mellon financial corp . unit that provides compensation
consulting . ` ` employees look at ( the stock price ) every day , and
it ' s a continued disincentive to them . ' '
while denne said enron doesn ' t have any plans to reprice its
employees ' options , the company did issue a one - time stock option
grant at $ 36 . 88 in august , when ken lay resumed his former role as
the company ' s chief executive . lay , who had held the job for 15
years , turned the position over to jeffrey skilling in february .
skilling quit in august , citing family reasons .
the august grant , which was equivalent to 5 percent of
employees ' base salary , didn ' t require a vesting period , but was
exercisable immediately . enron ' s shares haven ' t closed above
$ 36 . 88 since aug . 29 .
- - margot habiby in the dallas newsroom ( 214 ) 954 - 9452 , or | 0 | ham | enron mentions | enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity - - - firm will pay debt , keep cash cushion
the wall street journal , 10 / 26 / 01
deals & deal makers : enron officials sell shares amid stock - price slump
the wall street journal , 10 / 26 / 01
enron ' s financial troubles reverberate to bonds with poor liquidity and credit - rating concerns
the wall street journal , 10 / 26 / 01
most analysts remain plugged in to enron
the wall street journal , 10 / 26 / 01
enron draws down $ 3 bln in credit to boost investor confidence
bloomberg , 10 / 26 / 01
enron liked by analysts despite complicated dealings , wsj says
bloomberg , 10 / 26 / 01
enron draws down $ 3 billion from its credit lines , wsj reports
bloomberg , 10 / 26 / 01
action by enron halts stock ' s fall
houston chronicle , 10 / 26 / 01
corporate us on track for bailout
the guardian , 10 / 26 / 01
harvey pitt ' s s . e . c . : from guard dog to friendly puppy ?
the new york times , 10 / 26 / 01
enron draws down at least 1 bln usd from credit lines to boost mkt confidence
afx news , 10 / 26 / 01
the five dumbest things on wall street this week
thestreet . com , 10 / 26 / 01
stocks post gains after a rough morning
the washington post , 10 / 26 / 01
sudhakar will head enron probe panel
the times of india , 10 / 26 / 01
enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity
dow jones business news , 10 / 25 / 01
enron chief executive resigns from board of i 2 technologies
associated press newswires , 10 / 25 / 01
as enron ' s woes unnerve investors about energy sector , analysts say its problems are isolated
associated press newswires , 10 / 25 / 01
enron ' s credit outlook downgraded to negative by s no calif pwr contract talks
dow jones energy service , 10 / 25 / 01
spector , roseman & kodroff , p . c . files class action suit against enron corporation
pr newswire , 10 / 25 / 01
tgs q 3 net profit up 22 pct yr - on - yr on higher ngl sales , transport revenues
afx news , 10 / 25 / 01
enron draws down credit facility
dow jones news service , 10 / 25 / 01
enron employees watch options devalue as shares fall ( correct )
bloomberg , 10 / 25 / 01
enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity - - - firm will pay debt , keep cash cushion
by wall street journal staff reporters john r . emshwiller , rebecca smith and jathon sapsford
10 / 26 / 2001
the wall street journal
cl
( copyright ( c ) 2001 , dow jones & company , inc . )
enron corp . drew down about $ 3 billion , the bulk of its available bank credit lines , in a bid to restore confidence in its financial strength and liquidity .
enron will use part of the money to offer to redeem about $ 1 . 85 billion of outstanding commercial paper - - short - term corporate ious - - according to a person familiar with the matter , with the remainder providing the energy concern with a cash cushion . some observers believe the move is a pre - emptive step by enron to ensure that it had adequate liquidity should its access to bank lines be interrupted . the person also said enron was talking to its banks about a new , multibillion - dollar credit line .
enron insists its business operation and financial condition remain strong . but , " when the market is reacting as irrationally as it has been the last few days , we thought that cash was better than a commitment from a bank , " said an enron spokesman . in a statement , the company ' s new chief financial officer , jeff mcmahon , said that by drawing down the bank lines , " we are making it clear that enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments . "
the move underscored the tumultuous conditions that have been sweeping over the houston energy - trading concern in the past 10 days . enron is the nation ' s largest energy trader and is a principal in nearly one - quarter of all electricity and natural - gas trades . yesterday , for example , enron was involved in about $ 4 billion of deals through its enrononline unit .
since early last week , enron ' s share price has plummeted 50 % . last week , it reported a $ 618 million third - quarter loss and a reduction in shareholder equity of $ 1 . 2 billion . it also disclosed that the securities and exchange commission is conducting an inquiry into billions of dollars of transactions it did with entities connected to its former chief financial officer , andrew s . fastow , who was replaced wednesday .
the draw - down of the credit facilities came as one rating agency , fitch , put enron on review for a possible downgrade , while another , standard it takes time to sell assets , particularly in today ' s slower economy .
the company also is suffering from a string of disclosure controversies that have damaged its credibility , particularly in connection with its dealings with mr . fastow , the former chief financial officer . internal documents related to one of the fastow partnerships disclose that enron also did as much as hundreds of millions of dollars of business with an entity connected to another company official , who has since left enron . while enron disclosed its fastow - related transactions in sec filings , a computerized search of the sec ' s database of public filings produced no reference to this other employee - related entity known as chewco .
chewco was established in 1997 " with approximately $ 400 million in capital commitments " to buy an interest in enron assets , according to one of the partnerships documents . the document didn ' t further specify what assets were purchased , and it didn ' t disclose the financial impact of the transactions for either chewco or enron . chewco was being run by michael kopper , a managing director in enron ' s global equity markets group , according to the document .
enron , which has maintained that its complex financial transactions with employee - related entities were legal and properly disclosed , didn ' t have any comment regarding its dealings with chewco .
mr . kopper , who enron says left the company this year to focus on helping to run the fastow - related partnerships , didn ' t return phone calls . a person at his office in houston yesterday said mr . kopper was traveling . in response to questions about chewco , an enron spokesman would say only that " michael kopper was never an executive officer of enron . " mr . fastow repeatedly has declined interview requests . he severed his relationships with the partnerships in july .
this statement is an apparent reference to sec disclosure regulations regarding related - party transactions . under sec rule s - k , a company has to report any transaction that exceeds $ 60 , 000 and involves " any director or executive officer . " by contrast , mr . fastow , as cfo , would have fallen into that category , but mr . kopper , as managing director of a business unit , presumably wouldn ' t have .
however , reporting guidance issued by the financial accounting standards board seems to have a broader definition , one that might include mr . kopper . according to fas statement 57 , a related - party transaction involves a " material " piece of business between the company and a member of management . the statement defines management as directors , top officers , vice presidents in charge of major business units and " other persons who perform similar policy - making functions . persons without formal titles may also be members of management . "
copyright ? 2000 dow jones & company , inc . all rights reserved .
deals & deal makers : enron officials sell shares amid stock - price slump
by theo francis and cassell bryan - low
staff reporters of the wall street journal
10 / 26 / 2001
the wall street journal
cl 4
( copyright ( c ) 2001 , dow jones & company , inc . )
officials at enron corp . , whose unusual transactions with its chief financial officer are under regulatory scrutiny , have steadily sold sizable amounts of their holdings of company stock as the share price has fallen this year .
corporate officials had sold 1 . 8 million shares valued at about $ 106 million through july , as the stock fell to less than $ 45 a share from $ 83 at the start of the year . since july , the stock has plummeted an additional 63 % to $ 16 . 35 , including a 50 % plunge since the beginning of last week .
kenneth lay , chief executive of the houston energy - trading company , cashed in shares for $ 25 . 7 million so far this year , usually in transactions paired with options exercises . he sold 429 , 614 shares , leaving him with some 2 . 8 million shares as of july , the latest data available on his sales , according to thomson financial / lancer analytics .
the dollar amount for his 2001 sales is approaching the total for all mr . lay ' s sales of enron shares for 2000 , which reached $ 30 . 7 million . in 1999 , he sold shares for a total of $ 26 million .
in houston , an enron spokeswoman declined to comment on the figures , saying the company doesn ' t keep a running tally of stockholdings by corporate officials . enron also wouldn ' t comment on the number of options held by company insiders and called the sales " a personal decision . " many sales by enron insiders were concurrent with options exercises or sales followed soon after option exercises .
strong selling by company officers and directors amid share - price declines should raise red flags for investors , says jonathan moreland , research director of insiderinsights . com , who uses insider - trading data to zero in on investment ideas .
among other insiders selling during the year , kenneth rice , former chairman and ceo of enron ' s broadband unit , sold shares for $ 23 . 7 million . mr . rice has sold 456 , 966 shares of the 1 . 5 million shares he was listed as owning in enron ' s march proxy filing . former enron chief executive jeffrey skilling - - who resigned in august - - sold 160 , 000 shares for $ 9 . 8 million during the year . in march , mr . skilling owned 1 . 9 million shares .
messrs . rice and skilling couldn ' t be reached to comment .
overall , enron ' s insiders were busier selling shares last year , when they sold 5 . 8 million shares for about $ 449 million . during 1999 , insiders sold 3 . 4 million shares for $ 123 . 1 million .
since december 1999 , only one enron executive has reported buying company shares . the buyer was andrew fastow , who was ousted during the week as enron ' s chief financial officer after the company disclosed it was under a securities and exchange commission investigation into financial ties between the company and mr . fastow .
mr . fastow reported purchasing 10 , 000 enron shares in august at $ 36 . 98 each , or a total of $ 369 , 800 . today , those shares are valued at $ 163 , 500 , based on enron ' s stock price of $ 16 . 35 in 4 p . m . new york stock exchange composite trading . after the purchase , mr . fastow owned 110 , 586 shares , thomson financial / lancer analytics says .
enron said mr . fastow wasn ' t available to comment .
on monday , a new york law firm filed suit in u . s . district court in houston , alleging that enron misrepresented its performance by failing to disclose problems with its broadband division and failing to properly write down the value of investments in limited partnerships managed by mr . fastow . the suit , which seeks class - action status , also says enron insiders sold $ 73 million of their own enron holdings during parts of 2000 and 2001 .
copyright ? 2000 dow jones & company , inc . all rights reserved .
credit markets
enron ' s financial troubles reverberate to bonds with poor liquidity and credit - rating concerns
by jathon sapsford and suzanne mcgee
staff reporters of the wall street journal
10 / 26 / 2001
the wall street journal
cl 5
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - - enron corp . ' s bonds have held up better than its battered stock amid escalating financial woes at the energy - trading powerhouse .
not for long , some bond traders say .
in trading yesterday , the houston company ' s five - year bond , a $ 250 million issue due in july 2006 carrying a coupon of 6 . 4 % , was quoted at 82 cents on the dollar , down from a bid of 88 late wednesday , and representing a 16 % drop during the past two weeks .
that is far less than the 50 % decline in enron ' s stock price since the oct . 16 disclosure of a $ 1 . 01 billion charge linked to soured investments , resulting in a $ 618 million third - quarter loss . but the fall in the bond ' s price translates to a yield of 7 . 7 percentage points above bellwether u . s . government bonds , which is a widening from about three percentage points two weeks ago . although enron still is an investment - grade credit , that kind of " spread " is more characteristic of a junk bond with a credit rating of single b or lower .
enron sought to assure the markets that its finances were sound , disclosing late yesterday that it drew down more than $ 1 billion on its bank credit lines to shore up its finances . yet even as enron was tapping its lifeline , investors were finding it difficult to trade big blocks of enron bonds . yesterday ' s 82 bid , for instance , was for a block of less than $ 2 million in bonds , a small percentage of a typical trade .
fueling the uncertainty surrounding enron were fears that credit - rating concerns will lower ratings on enron debt after it recently conceded a slew of troubles , including losses , a securities and exchange commission investigation , and the sudden resignation of its chief financial officer .
" even at these levels , there ' s very little buying interest , " said harold rivkin , a principal at distressed - debt trader h . rivkin & co . in princeton , n . j .
in one sign of the ripple effects , the price investors pay to protect themselves from losses on enron debt was surging . the cost of a " default swap " - - in which an investor pays another investor to take a chunk of debt at face value in the event of default - - rose to 10 % of the size of the credit being insured . that was up from 8 % a day earlier , and more than holders of lucent technologies inc . debt had to pay at the height of that technology company ' s troubles earlier during the year .
even with its woes , enron remains an investment - grade company . most credit - rating agencies rate enron ' s senior unsecured debt at several notches above the noninvestment - grade level .
yet fitch said yesterday it put enron ' s credit rating on watch for a possible downgrade , following a similar move by moody ' s investors service last week . ( standard & poor ' s , a division of mcgraw hill cos . , stopped short of putting the company on its creditwatch list , opting instead to revise its long - term ratings outlook to " negative , " citing concerns about the company ' s financial flexibility . )
meanwhile , the weak bond prices are a sign that the markets are bracing for the worst . " these are investment - grade bonds that are migrating toward distressed levels , " said glenn reynolds , an analyst at credit sights inc . , an independent fixed - income research firm in new york . " they aren ' t distressed yet , but they are headed in that direction . "
if enron ' s credit ratings fall , it would have implications far beyond the company ' s ability to raise money . for an energy trader , a credit downgrade sends a signal to other participants in crucial markets about its ability to make good on its commitments .
enron makes markets in a variety of commodities . though it is best known for trading electricity and natural gas , the company also is a huge force in the markets for other commodities such as lumber , metals , bandwidth capacity and steel . as a market maker matching buyers and sellers , enron handles about a quarter of all the trading in the nation ' s energy and gas markets .
enron ' s credit - worthiness is hugely important . the better its credit rating , the cheaper it can hedge , or offset , its positions in all these commodities markets through derivatives and pass on savings to customers . without that credit rating , the cost of this high - margin , high - volume business starts to rise . a derivative is an instrument whose value is linked to , or derived from , that of an underlying security or asset , such as a stock , bond or commodity .
" even if the company does retain its investment - grade rating , the perception that this might be at risk will start to affect their core businesses , " said mr . reynolds at credit sights inc . " any prudent risk [ manager ] at enron ' s counterparties " - - any institution on the other end of a financial agreement with enron - - " is going to be examining their exposure to enron , and looking for ways to minimize it or offset it , " mr . reynolds said .
to be sure , enron , despite its recent woes , remains a strong company , credit analysts said . " i don ' t think anyone ' s seriously thinking that this is a company that would ever default , " mr . reynolds said .
" so far , our research shows that their counterparties and their banks are sticking with them , " said ron barone , managing director of standard & poor ' s utility energy project finance group . " no one has cut credit lines or asked for additional collateral that we have identified . and customers have publicly stated that it ' s business as usual . "
yet analysts say the arrival of distressed - debt traders on the scene could make life more difficult for enron and its management . traders expect enron ' s new chief financial officer jeffrey mcmahon and chairman kenneth lay to make the rounds of wall street next week , meeting with rating agencies , debt - trading desks , big bond holders and banks , including j . p . morgan chase & co . and citigroup inc .
treasurys
treasurys rallied on optimism that the federal reserve may cut interest rates more than previously expected after a spate of economic reports that documented how weak the economy was after the sept . 11 terrorist attacks .
prices also gained as the market finished digesting the week ' s flood of treasury , corporate and agency debt issues .
at 4 p . m . edt , the benchmark 10 - year treasury note was up 13 / 32 point , or $ 4 . 0625 per $ 1 , 000 face value , at 103 20 / 32 . its yield fell to 4 . 537 % from 4 . 588 % wednesday , as yields move inversely to prices .
the 30 - year treasury bond ' s price was up 22 / 32 point at 101 11 / 32 to yield 5 . 284 % , down from 5 . 330 % wednesday .
fed policy makers are slated to meet on nov . 6 . also providing support for longer maturities , the treasury department made another repurchase of issues outstanding . it received offers for $ 5 . 04 billion in callable 30 - year bonds , of which it accepted $ 1 billion . the offer - to - cover ratio , an indication of demand , was 5 . 04 .
treasury buyback
par par high wtd avg
coupon mat amt amt accept accept
% date offer accept price price
7 . 125 02 / 23 807 0 n / a n / a
11 . 750 02 / 10 235 0 n / a n / a
10 . 000 05 / 10 490 0 n / a n / a
12 . 750 11 / 10 471 0 n / a n / a
13 . 875 05 / 11 104 0 n / a n / a
14 . 000 11 / 11 203 0 n / a n / a
10 . 375 11 / 12 587 0 n / a n / a
12 . 000 08 / 13 974 0 n / a n / a
13 . 250 05 / 14 473 0 n / a n / a
12 . 500 08 / 14 725 39 3152 . 20 152 . 19
11 . 750 11 / 14 7826 0 7148 . 25 148 . 13
amounts in millions , prices in decimals .
* amount outstanding after operation . calculated using amounts
reported on announcement .
corporate bonds
motorola inc . ' s offering of three - year mandatory convertible securities , expected late yesterday was boosted from a planned $ 875 million and could total as much as $ 1 . 15 billion ( proceeds ) if investors exercise their overallotment option .
the securities were expected to have a dividend of between 6 . 75 % and 7 % and a conversion premium of 20 % to 22 % . earlier indications were a dividend of 7 % to 7 . 5 % and a conversion premium of 18 % to 22 % . the deal was to come through goldman sachs , j . p . morgan chase and salomon smith barney .
separately , lsi logic corp . repriced an offering of $ 450 million of five - year convertible subordinated notes , lowering the price to 99 from par , people familiar with the rule 144 a private placement said .
the notes have a 4 % coupon and a 41 % conversion premium and now offer a yield - to - maturity of 4 . 22 % . they were quoted lower at 98 1 / 2 early yesterday , a sign that the deal wasn ' t well - received after being brought overnight by lehman brothers .
- - -
john parry and tom barkley contributed to this article .
copyright ? 2000 dow jones & company , inc . all rights reserved .
heard on the street
most analysts remain plugged in to enron
by susanne craig and jonathan weil
staff reporters of the wall street journal
10 / 26 / 2001
the wall street journal
cl
( copyright ( c ) 2001 , dow jones & company , inc . )
enron : rarely have so many analysts liked a stock they concede they know so little about .
in recent years , wall street researchers have been overwhelmingly - - critics would say blindly - - enthusiastic about enron , even as they acknowledge not always understanding the complex financial transactions that accounted for its soaring profits . now , enron is reporting steep losses from some of its most complicated transactions , which many on wall street still can ' t figure out .
in a research note wednesday , goldman sachs analyst david fleischer conceded that scant corporate disclosure at the houston energy trader makes it difficult to value the company . the company ' s " lack of disclosure and transparency , " he says , is " a longstanding enron hallmark . "
so is this a stock to avoid , in his view ? hardly . goldman on wednesday did bump enron off its " u . s . select list , " which consists of a few dozen top stock picks - - but mr . fleischer continued to keep the stock on the firm ' s larger but prestigious " recommended list " of 200 or so favored stocks , where it has been since he joined goldman in 1993 .
" just because i can ' t be specific in being able to create a simple model . . . doesn ' t mean that you write off that industry and say ` i can ' t analyze it ' or ` i can ' t figure it out , ' " says mr . fleischer , who owns an undisclosed number of enron shares . " if that were the case , there would be an awful lot of industries we couldn ' t follow . "
enron ' s shares have dropped about 50 % since last week .
" every sell - side analyst we spoke to early in 2001 admitted that this was a black box , " says jim chanos , principal of kynikos associates in new york , who has been selling enron stock short - - trading it with an eye to profiting from its fall - - throughout this year . " it was really a trust - me story , when all the evidence was mounting that there was reason to question that level of trust . "
true , no stock picker is immune from bad calls . and wall street analysts long have been criticized for their overwhelmingly bullish bias , particularly on stocks in hot sectors with lots of investment - banking deals to be had .
but enron stands apart , precisely because so many of the analysts still recommending the stock have acknowledged that the company ' s disclosure practices are lacking . which raises the question : how can an analyst recommend that others purchase a stock when key information about the company ' s operations is so often either unavailable or indecipherable ?
concerns about the way that enron runs its business aren ' t new . many of the issues now plaguing enron ' s stock were first raised more than a year ago by bearish hedge - fund managers and independent accounting experts . yet time and again , wall street analysts dismissed as unimportant many of the lingering questions about the company ' s various partnership transactions .
besides those partnerships , enron also has been dogged by concerns about the secretive valuation techniques it uses to record its assets and earnings .
through it all , most analysts have stuck by this onetime stock - market darling , publicly dismissing questions about the firm ' s accounting practices and level of disclosure . as of yesterday , of the 17 analysts who following the stock , 10 had a " strong buy " or equivalent rating on the stock , according to thomson financial / first call . five others rated the stock a " buy , " though not strongly .
only prudential securities , which downgraded the stock this week , has a " sell " rating on enron .
the bullish treatment is the latest and one of the most high - profile examples of wall street taking a glass half - full stance , despite what in retrospect seems to be ample warning that a less - enthusiastic approach was warranted .
over the past year in the wake of the nasdaq composite index ' s general collapse , analysts have been widely assailed for a lack of independence - - particularly those who , like goldman ' s mr . fleischer , own shares in the companies they cover . regulators have raised concerns that analysts have compromised themselves to help their firms land lucrative investment - banking fees and other revenue .
enron has spread the wealth across many wall street firms . for instance , for one $ 865 million equity offering in 1999 led by ` credit suisse first boston , enron retained seven co - managers , including donaldson lufkin & jenrette , lehman brothers and merrill lynch .
" enron is a big company , and i don ' t think you ' re going to find a firm that hasn ' t been involved , " says credit suisse first boston analyst curt launer , who still rates the stock a " strong buy " with a $ 40 price target . " they pay a lot of investment - banking fees to wall street . "
he adds , " we do our analysis every day based on the information we have . are we here strictly to defend companies ? that ' s ludicrous . we ' re here to provide information to investors . . . . yes , i have the wrong recommendation on the stock . i don ' t think my analysis has been as wrong as the stock has performed . "
mr . fleischer , whose firm also has served as an investment banker to enron , calls his holding " a meaningful investment " that is " not small . " but he disputes any suggestion that his objectivity is compromised . mr . fleischer says his clients " are happy to know " he has a stake in enron , because it shows he puts his money where his mouth is .
in his research note wednesday , mr . fleischer called for complete disclosures of enron ' s off - balance sheet partnerships . despite the resulting difficulty he acknowledged facing in developing financial models for the company , he wrote that he and many other investors historically " have given enron the benefit of doubt because of its strong growth in earnings " and position as an industry leader .
" there ' s not information to really model this and be able to predict accurately where revenues are going to come from and where they ' re going to make their money , but every quarter they do , " he says . " it ' s hard to get inside to know all the transactions , but they do deliver . "
csfb ' s mr . launer also has been a longtime defender of the company , occasionally issuing research reports to rebut critical stories about enron in the financial press . on monday , he wrote that he expects questions about enron ' s partnerships and accounting disclosures to continue , but that he remains " confident in the businesses and operating growth prospects for [ enron ] and an ultimate recovery in the share price . "
" i know i ' m wrong on the stock , " mr . launer says . but he says that at these prices , he isn ' t ready to throw in the towel because he figures that even in a worst - case scenario - - under which he envisions enron having to issue as much as $ 2 billion worth of shares , diluting current holders - - the stock doesn ' t have much further to fall .
clearly , messrs . launer and flesicher aren ' t alone . " even in relative terms , analysts remain very bullish on this stock , " says chuck hill , director of research at thomson financial / first call . the average rating for a stock on wall street is 2 . 2 , or slightly shy of a " buy " rating . enron scores a 1 . 6 . " this may turn into a classic case of locking the barn door after the bad news is out , " mr . hill says .
in downgrading the stock this week , prudential analyst carol coale bumped it to " sell " from " buy , " with a brief stop at " hold . " while she is the only analyst to recommend investors sell the stock , she openly concedes her recent downgrades come " too little , too late . "
ms . coale says enron has been difficult to cover for years . she says the company ' s disclosure practices fall far short of ideal , and senior executives are often evasive , even when presented with direct questions . for instance , she says three weeks ago she asked enron management if the company was under investigation by the securities and exchange commission . they said " no , " she says .
in light of the company ' s acknowledgment this week of an sec " inquiry , " she asked enron about the previous denial . " they told me it is an inquiry , not an investigation , " she says . an enron spokeswoman says the company learned of the sec ' s inquiry only last wednesday .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron draws down $ 3 bln in credit to boost investor confidence
2001 - 10 - 26 08 : 52 ( new york )
enron draws down $ 3 bln in credit to boost investor confidence
houston , oct . 26 ( bloomberg ) - - enron corp . , whose stock has
fallen on concern about the largest energy trader ' s transactions
with affiliates , drew down $ 3 billion in credit to restore
confidence in its financial strength .
the houston - based company will use about $ 2 . 2 billion to pay
off commercial paper obligations and keep the rest as cash ,
spokesman mark palmer said .
` ` nothing instils confidence like cash , ' ' he said .
enron ' s shares have dropped 52 percent in the past 10 days as
investors worry that the company ' 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 .
investors say they are worried about $ 3 . 3 billion in
liabilities from affiliates formed to buy and sell enron assets .
enron ousted chief financial officer andrew fastow on wednesday
amid a securities and exchange commission inquiry into
partnerships he ran that cost the company $ 35 million .
jeff mcmahon , head of enron ' s industrial markets group , was
named cfo in a bid to restore investor confidence , chairman and
chief executive officer kenneth lay said in a statement .
enron shares fell 6 cents to $ 16 . 35 yesterday .
- - mark johnson in the princeton newsroom ( 609 ) 750 - 4662 , or at
enron liked by analysts despite complicated dealings , wsj says
2001 - 10 - 26 06 : 12 ( new york )
houston , oct . 26 ( bloomberg ) - - enron corp . is liked by many
wall street analysts despite lingering questions about the power
trading company ' s complicated partnership transactions and the
techniques used to record earnings , the wall street journal
reported in its ` ` heard on the street ' ' column .
goldman sachs group inc . analyst david fleischer , who owns an
undisclosed number of enron shares , said that even though
inadequate corporate disclosure makes it difficult to value the
company , that doesn ' t mean he will write off the industry or not
analyze enron .
of the 17 analysts who follow the stock , 10 had a ` ` strong
buy ' ' or equivalent rating , according to thomson financial / first
call , the paper said . five rated it ` ` buy ' ' and one had a ` ` sell ' '
on enron .
most analysts have stuck by the company , publicly dismissing
questions about enron ' s accounting practices and level of
disclosure , the journal said .
the securities and exchange commission is inquiring about
partnerships run by former chief financial officer andrew fastow .
enron draws down $ 3 billion from its credit lines , wsj reports
2001 - 10 - 26 00 : 28 ( new york )
new york , oct . 26 ( bloomberg ) - - enron corp . drew down about
$ 3 billion of its available credit , the bulk of its bank credit
lines , to restore confidence in the financial strength of the
company , the wall street journal reported .
the energy trading company , whose shares have fallen 52
percent since oct . 16 , will use part of the money to redeem about
$ 1 . 85 billion short - term commercial debt , the wall street journal
reported , citing an unidentified person familiar with the matter .
enron is talking to banks about a new , multi - billion line of
credit , the paper reported , citing the unidentified person . the
steps are seen as an effort by the energy trader to ensure that it
has adequate liquidity in case its access to bank credit is
disrupted , the paper said .
enron said in a statement distributed by pr newswire that it
drew on its credit lines to provide more than $ 1 billion in cash
liquidity . the steps come a day after chief financial officer
andrew fastow resigned amid a securities and exchange commission
probe of partnerships he ran .
- - william selway in the san francisco newsroom at ( 415 ) 743 - 3511 ,
oct . 25 , 2001 , 11 : 22 pm
houston chronicle
action by enron halts stock ' s fall
but credit ratings are being reviewed
by laura goldberg
copyright 2001 houston chronicle
the recent freefall of enron corp . ' s stock price stabilized thursday , a day after the world ' s largest energy trader replaced its chief financial officer .
enron , under a cloud for a number of reasons , including an securities and exchange commission inquiry , also made two announcements thursday night aimed at reassuring the financial community .
in the announcements , enron said it had drawn more than $ 1 billion from its lines of credit and said that energy - trading business done through enrononline on thursday was above average levels .
houston - based enron banked the money and has no plans to spend it , a spokeswoman said .
" we are making it clear that enron has the full support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments in the ordinary course of business , " jeff mcmahon , who took over wednesday as chief financial officer , said in a written statement .
enron said it recorded more than 8 , 300 transactions through enrononline on thursday .
ken lay , chairman and chief executive officer , said : " enron continues to be the market - maker of choice in wholesale and gas power markets , our customers continue to put their confidence in us , and our core businesses are strong and performing well . "
earlier thursday , two credit rating agencies took actions regarding enron ' s ratings , which j . p . morgan securities analyst anatol feygin described as " just more negative sentiment . "
at one point in thursday morning trading on the new york stock exchange , shares in enron were up more than $ 1 . 50 , but they closed down 6 cents at $ 16 . 35 . as recently as oct . 16 , the stock closed at $ 33 . 84 .
before the market closed , international credit - rating agency fitch put enron , which currently holds investment - grade credit ratings , on review for a possible downgrade . then after the market closed , standard & poor ' s took two steps : it affirmed enron ' s current ratings , but it also revised its long - term ratings outlook to negative .
moody ' s investors service put all of enron ' s long - term debt on review for potential downgrade last week .
enron , which noted that losing its investment - grade rating would take downgrades of three notches , said thursday it will do everything in its power to defend its current rating .
in the sec inquiry , federal securities regulators are reviewing transactions between enron and two private investment partnerships formerly run by andrew fastow , who was removed as enron ' s chief financial officer wednesday . enron removed fastow as part of its bid to repair its damaged credibility .
wall street is also questioning certain of enron ' s financing vehicles and is wondering whether the company will face hits to its balance sheet in the months ahead .
s & p said it was concerned that the sizable drop in enron ' s market capitalization has negatively affected its financial flexibility and could hurt the company ' s plans to rebuild its balance sheet .
but it also noted that the " fundamental strength " of enron ' s energy marketing and trading business has remained steady .
unless enron ' s rebuilds confidence among investors and business partners , fitch said , it could " impair enron ' s financial flexibility and access to capital markets , " which would hurt its ability to conduct business .
carol coale , an analyst at prudential securities in houston , said the actions by s source : world reporter ( tm )
battered corporate america will receive an immediate dollars 25 bn ( pounds 18 bn ) tax rebate under a dollars 100 bn eocnomic stimulation package just approved by the republican - controlled house of representatives .
the controversial package , worth an estimated dollars 212 bn over three years , includes dollars 70 bn for companies next year alone . it was approved by the house late on wednesday by 216 votes to 214 , but faces significant amendment in the senate , which is now under democrat control .
it has reopened a wide ideological rift between republicans , who favour corporate and individual tax cuts to reboot an economy mired in recession , and democrats - who , in a reprise of the roosevelt " new deal " , prefer to see increased public spending on unemployment and infrastructure projects .
liberal lobby groups such as the citizens for tax justice and the center on budget and policy priorities claim the bill would hand back dollars 6 . 3 bn to the 14 biggest corporations - which , they say , are renowned for paying little or no tax .
the most hotly contested measure is the repeal of the corporate alternative minimum tax , or amt , introduced in 1986 to make sure firms could not avoid all tax payments . this , strongly supported by president bush , would be made retroactive so that all amt payments would be refunded .
the lobby groups and the non - partisan congressional research service calculate that this would give a dollars 1 . 4 bn boost to computer group ibm alone , while general motors would get back dollars 833 m and general electric dollars 671 m .
others to benefit include txu , the texas - based utility that is the us ' s third largest energy supplier , which would would be given dollars 608 m . united airlines , the us ' s second largest carrier - which is warning of bankruptcy - would receive dollars 371 m , and enron , the energy trading group forced to sack its finance director this week , would be given dollars 254 m .
democrat leaders in the senate are determined to erase this measure and dislike other proposals to boost firms , which include a 30 % tax break for capital investment over three years worth dollars 39 . 3 bn this year alone . they say these amount to a " giant corporate giveaway " .
mr bush and other republican leaders argue these fiscal concessions would help companies making hundreds of thousands redundant avoid further lay - offs and invest more , prompting an economic recovery that , at best , is likely to start in the new year .
" businesses are america ' s employers . they ' re the hardware store , the diner down the street , the gas station on the corner . they ' re not the enemy of working families , " the author of the plan , representative bill thomas of california , said .
democrats are especially incensed with the alleged paucity of the package ' s provisions for the growing numbers of jobless , arguing that much of the dollars 12 bn foreseen would not go to individuals but into the reserves of states .
* a fresh round of global trade talks is essential to revitalise the world economy after the terrorist attacks on the us , trade secretary patricia hewitt said yesterday , writes charlotte denny
as a new report predicted that global trade growth will collapse this year , ms hewitt warned that the world must not retreat into protectionism or isolationism in the wake of the attacks . wto trade ministers are gathering in doha , qatar , in two weeks ' time to discuss launching a new round of talks , the first since the collapse of their meeting in seattle , nearly two years ago .
full coverage of the downturn at www . guardian . co . uk / recession /
copyright ? 2000 dow jones section c
harvey pitt ' s s . e . c . : from guard dog to friendly puppy ?
by floyd norris
10 / 26 / 2001
the new york times
page 1 , column 2
c . 2001 new york times company
can the new , friendlier securities and exchange commission enforce the laws and assure investors that corporate financial reports are trustworthy ?
harvey l . pitt , the new s . e . c . chairman , set out this week to show that he is not like his predecessor , arthur levitt . in a speech to the american institute of certified public accountants - - an organization whose senior leadership led a bitter and ultimately unsuccessful fight against mr . levitt ' s reform efforts - - mr . pitt praised his listeners and took a few swipes at his predecessor .
from now on , he promised , ' ' the commission will make sound decisions , in a respectful , affirmative way , not in a demeaning , demanding or demonizing way . ' ' he spoke favorably of ' ' pro forma ' ' earnings reports , in ways that no doubt heartened accountants who have worked so hard to find ways to make even the worst profit figures look pretty . there was no mention of mr . levitt ' s concerns about improper management of earnings .
on the heels of mr . pitt ' s speech , the s . e . c . used a minor enforcement action to herald a policy of not cracking down on companies that come forward to report their own errors . the decision itself was reasonable , although one could wonder if top management did something wrong in failing to detect a fraud that went on for years . but the way the s . e . c . trumpeted it raised questions about whether the agency is turning into a friendly puppy rather than a guard dog . ' ' is this amnesty for financial fraud ? ' ' jane adams , the accounting analyst at credit suisse first boston and a former s . e . c . staff member , asked in a report to clients . she was not sure of the answer .
in an interview yesterday , mr . pitt dismissed such worries . ' ' no one is going to get away with anything , ' ' he said . ' ' what we are trying to do is create an environment where people feel comfortable ' ' and can talk to the s . e . c . ' ' without feeling we are looking for a big splash . ' '
a major embarrassment for accountants is having the s . e . c . force a client to restate its numbers . mr . pitt and his chief accountant , robert herdman , are sending signals that fewer such demands will be made . ' ' i am very much in favor of a vigorous enforcement program , ' ' mr . pitt said in the interview , ' ' but i am not in favor of having investors barraged by conflicting statements and restatements . ' '
mr . pitt talks of companies ' ' getting it right the first time , ' ' which would certainly be nice . but there is a risk that companies will become more aggressive in their accounting , figuring there will be no real penalty , like a restatement , if they are caught . that would make life harder for auditors who try to resist misleading accounting .
in trying to sound comforting to the accountants ' group - - an organization that , as he noted , he had represented as a lawyer for two decades - - mr . pitt has done little to reassure investors of his independence .
the proof , of course , will come in the performance . fortunately , the mess at enron gives the s . e . c . a golden opportunity to counter the puppy image . it will take time for the commission to determine if the company ' s accounting was proper . but there need be no delay in forcing enron to clearly explain - - rather than obfuscate as it has so far - - the strange deals it made with partnerships run by the executive just ousted as chief financial officer .
' ' this could , ' ' a former s . e . c . staff member said , ' ' focus the issue on whether companies can make completely correct but totally misleading disclosures . ' ' and it would indicate that this watchdog still has a bite .
photo : harvey l . pitt
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron draws down at least 1 bln usd from credit lines to boost mkt confidence
10 / 26 / 2001
afx news
( c ) 2001 by afp - extel news ltd
houston ( afx ) - enron corp said it drew on committed lines of credit to provide cash liquidity in excess of 1 bln usd as part of moves to restore market confidence in the company .
" we are making it clear that enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments in the ordinary course of business , " said newly appointed chief financial officer jeff mcmahon .
" this is an important step in our plan to restore investor confidence in enron . additionally , we will update investors over the next several days regarding our plans to maintain our long - term credit rating . "
according to the wall street journal , enron drew down about 3 bln usd and will use part of the money to offer to redeem about 1 . 85 bln usd of outstanding commercial paper , with the remainder providing the energy concern with a cash cushion . the newspaper cited a person familiar with the matter .
it quoted observers as saying the move may be is a pre - emptive step by enron to ensure that it had adequate liquidity should its access to bank lines be interrupted .
the source also said enron is talking to its banks about a new , multi - billion - dollar credit line .
jms for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones let ' s have a comfortable war
sure , we ' re at war with a band of cave - dwelling outlaws hell bent on our annihilation . but would all freedom - loving americans please go out and buy some dvd players ? maybe even a nice new car ?
that was basically the message from the treasury department , on news that congress had voted for the creation of war bonds to finance antiterrorism efforts and rebuilding following the attacks . officials at treasury applauded the sentiment , then politely suggested it would be even better for the economy if americans just went to stores and bought stuff . " the economy is perhaps our greatest asset as we move forward in these efforts to fight the war on global terrorists , " says betsy holahan , a department spokesperson . " war bonds are an additional way for americans to show their patriotism . "
for the record , we don ' t think an issue of war bonds would be dumb , just superfluous . after all , nothing ' s stopped americans from buying generic savings bonds - - or better yet , treasuries - - all of which finance spending by the federal government .
in the meantime , it ' s a little dislocating to hear politicians talk up war bonds - - which most people associate with hardship and sacrifice - - at the same time top economic gurus are practically begging people to shop . war bonds notwithstanding , we ' re a long way off from the era of ration books .
3 . enron again
last week , we noted the extent of alarm about enron ' s ( ene : nyse - news - commentary ) revelation that its shareholder equity had dropped $ 1 . 2 billion , following some unusual and possibly inappropriate high - level transactions . following that disclosure , besieged cfo andrew fastow has finally left the company on what ' s delicately termed a " leave of absence . "
in july , fastow exited a limited partnership , from which he had reportedly reaped large profits , after shareholders and analysts objected to his involvement . concerns about those dealings and others had increased in the wake of the disclosure about the charge to equity until even management acknowledged fastow would have to go as a prerequisite to restoring investor confidence .
but that won ' t be an easy task , given the resentment about enron ' s disinclination to explain its problems . one analyst called fastow ' s departure " unsettling , " noting that management had given the cfo its endorsement only the day before . sounding a note of exasperation , analysts at j . p . morgan chase , banc of america securities and prudential all downgraded the stock . and there could be more trouble to come : the securities and exchange commission has issued enron a letter of inquiry related to some of its transactions .
4 . gold diggers
it ' s understandable that investors felt panicky in september . unfortunately , some reacted by shoving their hard - earned money into gold funds . according to financial research corp . , which tracks fund flows , the specialty precious - metals category was the best - selling equity category during september , with net inflows of $ 101 million .
granted , that ' s not a huge sum in the mutual fund world . by comparison , during the same month , large growth funds saw net redemptions of $ 7 . 4 billion . but the fact that so many people are jumping into precious metals is noteworthy , given that gold funds have performed so badly for so long .
sure , under the bizarre circumstances of late , they ' ve enjoyed somewhat of a pop . according to morningstar , the average precious - metals fund is up 10 . 08 % year to date . but over the past five years , the same category lost an embarrassing 14 . 68 % . by comparison , even large - cap growth funds - - everybody ' s favorite whipping boy - - managed to post a positive return . in the same period , they were up 7 . 13 % .
moreover , circumstances that would seem to be the most favorable in decades - - a combination of attacks on the u . s . government and war - - still don ' t seem to have boosted gold prices significantly . despite an initial surge in prices after the terrorist attacks , they ' re again approaching their pre - sept . 11 levels . it ' s too early to say , but it ' s likely the gold bugs will confront disappointment once again .
5 . amazon amazes once again
amazon ( amzn : nasdaq - news - commentary ) still maintains it will become profitable by the fourth quarter . well , at least it will post a pro forma operating profit .
ok , so maybe that wouldn ' t include amazon ' s service on $ 2 . 17 billion in long - term debt or extraordinary charges . in fact , a pro forma operating profit is basically just an accounting concept that would lend a fuzzy , meaningless aura of minor triumph . the company still hasn ' t said when it will turn an economic profit .
for that matter , even the fourth - quarter prediction is iffy . after announcing the company expected to turn the pro forma operating profit , cfo warren jenson added the humble qualifier , " there are no guarantees . " amazon simultaneously lowered its forecast for fourth - quarter revenue , predicting that sales would be somewhere between flat and up by 10 % compared with a year ago .
third - quarter trends weren ' t encouraging . though sales overall were up slightly in the third quarter from a year ago , revenue from the company ' s core books and music business actually fell 12 % . at least the company has made progress in cutting costs : a spokesperson says pro forma operating expenses have decreased by 20 % over the past year .
incidentally , in the wake of amazon ' s earnings report , two analysts made the belated decision to cut their ratings on the stock , which has fallen 93 % from its high back in december 1999 . merrill lynch analyst henry blodget and sg cowen analyst scott reamer downgraded the stock to " neutral " from previous buy ratings . " we thought there might be upside to our estimates , " noted blodget . " there wasn ' t . "
financial
stocks post gains after a rough morning
associated press
10 / 26 / 2001
the washington post
final
eo 3
copyright 2001 , the washington post co . all rights reserved
new york , oct . 25 - - selected buying of technology and energy shares pulled the stock market higher today , reversing a morning slide triggered by a pair of grim economic reports .
shares of semiconductor makers and equipment manufacturers did particularly well , as did energy traders , led by a surprisingly strong performance from williams cos . , a tulsa - based energy firm that had an 83 percent jump in third - quarter net earnings .
the dow jones industrial average closed rose at 9448 . 78 , up 103 . 16 , reversing an earlier deficit of 167 points . the nasdaq composite index rose 36 . 29 , to 1767 . 83 , and the standard the american stock exchange index rose 5 . 10 , to 828 . 67 ; and the russell index of 2 , 000 small stocks rose 8 . 31 , to 435 . 96 .
* advancing issues outnumbered declining ones by 9 to 7 on the nyse , where trading volume rose to 1 . 38 billion shares , from 1 . 35 billion on wednesday . on the nasdaq , advancers outnumbered decliners by more than 3 to 2 and volume totaled 2 . 2 billion , up from 1 . 84 billion .
* the price of the treasury ' s 10 - year note rose $ 4 . 38 per $ 1 , 000 invested , and its yield fell to 4 . 54 percent , from 4 . 59 percent late wednesday .
* the dollar rose against the japanese yen and the euro . in late new york trading , a dollar bought 122 . 87 yen , up from 122 . 76 yen late wednesday , and a euro bought 89 . 25 cents , down from 89 . 42 cents .
* light , sweet crude oil for december delivery settled at $ 22 . 01 a barrel , up 32 cents , on the new york mercantile exchange .
* gold for current delivery rose to $ 277 . 80 a troy ounce , from $ 275 . 90 on wednesday , on the new york mercantile exchange ' s commodity exchange .
http : / / www . washingtonpost . com
copyright ? 2000 dow jones source : world reporter ( tm )
mumbai : retired supreme court judge sudhakar kurdukar will head the judicial panel set up by the maharashtra government to investigate into the controversial enron deal .
an announcement in this regard was made by chief minister vilasrao deshmukh at a press conference held at mantralaya on wednesday .
the ruling democratic front ( df ) coalition had differences over the appointment of the judge , with the nationalist congress party ( ncp ) demanding that a retired judge of the bombay high court head the judicial panel . the congress and the left front partners in the df , however , insisted on a supreme court judge .
the issue was hotly debated in the coordination committee of the df . the ncp members in the df finally left the decision to mr deshmukh .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron taps $ 3 billion from bank lines in pre - emptive move to ensure liquidity
10 / 25 / 2001
dow jones business news
( copyright ( c ) 2001 , dow jones & company , inc . )
embattled enron corp . drew down about $ 3 billion , the bulk of its available bank credit lines , in a bid to restore confidence in its financial strength and liquidity , friday ' s wall street journal reported .
enron ( ene ) will use part of the money to offer to redeem around $ 1 . 85 billion in outstanding commercial paper - - short - term corporate ious - - according to a person familiar with the matter , with the remainder used to provide a cash cushion . this person also said that enron was talking to its banks about a new multibillion - dollar credit line . some observers thought the moves were a pre - emptive step by enron to ensure that it had adequate liquidity should its access to bank lines be interrupted .
enron insists its business operation and financial condition remain strong . but " when the market is reacting as irrationally as it has been the last few days , we thought that cash was better than a commitment from a bank , " said an enron spokesman . in a prepared statement , the company ' s new chief financial officer , jeff mcmahon , said that by drawing down the bank lines , " we are making it clear that enron has the support of its banks and more than adequate liquidity to assure our customers that we can fulfill our commitments . "
the move underscored the tumultuous conditions that have been sweeping over the houston energy - trading firm in the past 10 days . enron is the nation ' s largest energy trader and is a principal in nearly one - quarter of all electricity and natural - gas trades . thursday , for example , enron was involved in about $ 4 billion worth of deals through its enrononline unit .
since early last week , enron ' s share price has plummeted 50 % . it has reported a $ 618 million third - quarter loss and a reduction in shareholder equity of $ 1 . 2 billion . it also disclosed that the securities and exchange commission is conducting an inquiry into billions of dollars of transactions it did with entities run by its former chief financial officer , andrew s . fastow , who was replaced wednesday .
the draw - down of the credit facilities came as a major rating agency , fitch , put enron on review for a possible downgrade while standard & poors changed enron ' s credit outlook to negative from stable . moody ' s investors service has already said it is looking at a possible downgrade . in order to fall below investment grade , enron ' s credit rating would have to fall several notches .
if that were to happen , however , a host of bad consequences could follow . together with the sharp decline in its stock price , a noninvestment grade rating would throw the company into default on obligations involving billions of dollars of borrowings . in that event , enron could be forced to issue millions of shares of stock to holders of that debt , diluting the value of existing shares . as of 4 p . m . in new york stock exchange composite trading , enron shares were down six cents at $ 16 . 35 .
copyright ( c ) 2001 dow jones & company , inc .
all rights reserved .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron chief executive resigns from board of i 2 technologies
10 / 25 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
dallas ( ap ) - kenneth lay , the chairman and chief executive of embattled enron corp . , has resigned from the board of software company i 2 technologies .
" this is a very painful decision , " lay said in a statement issued thursday by dallas - based i 2 technologies . " but now that i am again taking on the ceo responsibilities at enron , i must reduce my outside activities . "
lay resumed the chief executive ' s job at enron in august after jeff skilling surprised investors by leaving the houston - based energy company .
enron officials did not immediately return calls from the associated press .
in the past week , enron has been rocked by questions surrounding partnerships that did business with enron while they were managed by the company ' s chief financial officer . the official was replaced on tuesday .
enron ' s stock price has fallen nearly 50 percent since interest in the partnerships intensified , and the company acknowledged that the u . s . securities and exchange commission was investigating the arrangements
i 2 makes software to help companies manage their supply chains , and its clients include texas instruments , ford motor co . and dell computer corp .
i 2 stock plunged nearly 25 percent on oct . 17 after the company reported a $ 5 . 53 billion third - quarter loss and said it would cut 1 , 000 jobs , about one - fifth of the work force .
lay joined the board in october 2000 . no replacement was announced .
in trading thursday , i 2 shares rose 24 cents to $ 4 . 95 , and enron shares fell 6 cents to $ 16 . 35 .
copyright ? 2000 dow jones & company , inc . all rights reserved .
as enron ' s woes unnerve investors about energy sector , analysts say its problems are isolated
by brad foss
ap business writer
10 / 25 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
new york ( ap ) - as it grew over the past decade into the country ' s largest natural gas and power marketing company , enron corp . became the de facto barometer of health within the energy trading sector .
wall street buoyed the stock prices of enron ' s competitors based in part on the huge success of the houston - based company ' s business model . now , executives and industry analysts hope to prevent enron ' s internal tumult and free - falling stock price from undermining investors ' confidence in the sector . they say the houston - based company ' s problems should be viewed in isolation and not as a broader indicator of the marketplace .
" the marketplace for natural gas and power trading is as vibrant as it was yesterday , a week ago or a month ago , " said jim donnell , president of duke energy north america , a division of duke energy corp . that generates and trades power .
that opinion appeared to gain acceptance on thursday as shares of dynegy inc . , el paso corp . and duke energy corp . rebounded from losses on wednesday , when enron ' s latest woes appeared to spill over into the stock prices of its rivals .
enron ' s stock has fallen about 50 percent in the past week ( and nearly 80 percent since january ) and analysts said its recovery is not expected anytime soon .
the latest troubles began oct . 16 when enron reported third quarter earnings , and a longtime concern among wall street analysts that executives were not entirely forthcoming only got worse .
first came reports that some of the company ' s losses stemmed from partnerships managed by enron ' s chief financial officer at the time , andrew fastow . that raised concerns about a potential conflict of interest and touched off an inquiry by the securities and exchange commission .
then on wednesday , one day after enron chairman kenneth lay defended fastow , the company ousted him and said he would take a leave of absence .
" they created an environment in which their credibility was put to the test and they didn ' t come through with flying colors , " said christopher ellinghaus , an analyst at williams capital group in new york .
enron shares have been falling all year for reasons new and old , which have little to do with the company ' s wholesale energy business , which accounts for roughly 80 percent of profits .
analysts insist wholesale energy marketing can be profitable even in the face of an economic downturn and falling natural gas and electricity prices .
" even though ( enron ) shot themselves in the foot , the basic business is still sound and not likely to disappear , " ellinghaus said .
ubs warburg analyst ronald barone echoed that sentiment .
" the collateral damage to the rest of the space - dynegy and el paso - is overdone , " barone said .
on thursday , williams companies inc . of tulsa , okla . , reported net income of $ 760 million and reliant resources inc . of houston reported $ 133 million in profits .
" it ' s business as usual , " said dynegy spokesman steve stengel .
not for enron , whose stock price began a steady descent 10 months ago when its nascent high - speed internet unit failed to live up to the hype . the downward momentum was further propelled by difficulties collecting money from power customers in india and the surprise departure in august of then - chief executive jeff skilling was considered another bad sign .
on oct . 16 , enron reported a net loss of $ 638 million in the third quarter , taking a one - time charge of $ 1 . 01 billion attributed to investment losses , troubled assets and unit restructurings . excluding the charge , enron earned $ 393 million on $ 47 . 6 billion in revenues for the three months ending sept . 30 .
ellinghaus said the stocks of enron ' s competitors were brought down wednesday because of " dire " speculation that enron ' s troubles might be so bad that it could have difficulty paying hundreds of millions of dollars worth of receivables to companies such as duke and dynegy .
" all i ' m hearing is doomsday type stuff and doomsday is not reality , " ellinghaus said .
enron did not return calls seeking comment thursday .
donnell of duke energy said the charlotte , n . c . - based company is paying close attention to the enron situation and that there has been no indication of receivables not being paid .
" they continue to be one of the best functioning companies as it relates to credit , " he said . " they ' ve never missed a deadline . "
ap graphic energy stocks
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron ' s credit outlook downgraded to negative by s & p ( updatel )
2001 - 10 - 25 18 : 59 ( new york )
enron ' s credit outlook downgraded to negative by s & p ( updatel )
( adds analyst comment in fourth paragraph . )
houston , oct . 25 ( bloomberg ) - - enron corp . ' s long - term
credit ratings outlook was changed to negative from stable by
standard & poor ' s after the largest energy trader ' s shares fell
49 percent in the past week .
s & p affirmed the houston - based company ' s ratings of
` ` bbb + / a 2 , ' ' which are investment grade .
the ratings company cited lost market capitalization and the
possibility that enron won ' t generate enough money from selling
assets outside the main trading business to repay debt . s & p did
say that ` ` the strategic direction of the company is likely to
become more credit - positive in the wake of recent management
changes . ' '
enron reported $ 1 . 01 billion in losses from investments
outside the principal business of trading commodities such as
electricity and natural gas . chief financial officer andrew
fastow resigned yesterday as the u . s . securities and exchange
commission asks for information about related - party transactions
he conducted .
` ` the s & p write up was very positive , ' ' said dorothea
matthews , an analyst at creditsights inc . , a research firm . ` ` it
seems that the ratings company went out of its way to tray and
calm things down . ' '
shares of enron fell 6 cents to $ 16 . 35 .
- - russell hubbard in the princeton newsroom , 609 - 750 - 4651 or
enron ' s trading partners say it ' s business as usual ( update 2 )
2001 - 10 - 25 19 : 38 ( new york )
enron ' s trading partners say it ' s business as usual ( update 2 )
( adds new enron cfo in 14 th paragraph . )
houston , oct . 25 ( bloomberg ) - - concerns enron corp . will run
short on cash haven ' t prevented commodities traders from doing
business with the largest energy broker , customers say .
the company handles about 25 percent of u . s . power and
natural - gas trading , said john kilduff , vice president of energy
risk management for fimat usa . it ' s also a leader in complex
derivatives that allow others to hedge against the risk of
fluctuating commodities prices .
enron ' s credit rating is on watch for possible downgrade at
moody ' s investors service , and standard & poor ' s lowered enron ' s
long - term credit outlook to negative after $ 1 . 01 billion in third -
quarter losses from some soured investments . the company needs
good credit to raise cash every day to keep trading partners from
demanding collateral and to settle transactions .
so far , there are no signs that houston - based enron is
handling less business , kilduff said .
` ` if they were unable to perform , it would be a major
problem , ' ' he said . ` ` it could get like long - term capital if
things really broke down because the numbers are that big . ' '
long - term capital management , a private investment fund for
the wealthy , incurred massive losses making bond trades during the
1998 russian currency crisis . the fund ' s portfolio plunged . more
than a dozen banks bailed out the fund at a cost of $ 3 . 6 billion
to avoid a collapse .
needs cash daily
enron trades electricity , natural gas , coal and other
commodities worldwide , as well as complex financial instruments to
hedge against price swings in the goods .
` ` as of now , enron is active in the markets , ' ' kilduff said .
` ` no one is cutting trading lines that i can see , or demanding
different terms than before . ' '
companies that trade as heavily as enron require cash every
day to settle positions , said kilduff , whose company swaps natural
gas and other energy investments with enron .
some days , fimat will bet that natural - gas prices will fall ,
while enron bets that they will rise . natural gas usually does one
or the other every day , and someone pays the difference .
` ` the liquidity of your trading partners is a risk factor , ' '
kilduff said . ` ` someone is paying someone else every day . ' '
enron said on a conference call tuesday that it has enough
money to operate normally , and can fall back on $ 3 . 4 billion in
bank credit lines if necessary . the company is determined to
protect the credit rating , enron has said .
` ` we aren ' t even going to entertain worst - case scenarios at
this point , ' ' said enron spokeswoman karen denne .
investor questions
enron , based in houston , ousted chief financial officer
andrew fastow yesterday , two days after the u . s . securities and
exchange commission began asking questions about partnerships he
ran that invested in company shares . those trades cost enron $ 35
million . jeff mcmahon , head of enron ' s industrial markets unit ,
replaced fastow , who went on leave of absence .
enron shares have fallen 49 percent in the past week . they
fell 6 cents to $ 16 . 35 today .
based on bloomberg composite ratings , most of enron ' s long -
term debt is rated at bbb 2 and bbbl , two or three levels above
investment grade . fitch , standard & poor ' s and moody ' s all rate
the company ' s debt at investment grade .
the company also faces questions from investors about $ 3 . 3
billion in potential liabilities from affiliated companies formed
to buy and sell enron assets such as power plants .
the affiliates owe payments to bond investors and plan to
meet them by selling assets . enron doesn ' t know if the sale
proceeds will cover the debt . the company would have to make good
on any shortfall .
little time
enron asked citicorp inc . on tuesday to arrange a $ 750
million loan to ensure access to credit if the company gets shut
out of the money markets .
enron had about $ 1 . 85 billion of commercial paper , or short -
term unsecured debt , outstanding as of tuesday , traders said . the
company , which has a $ 3 billion program , has had difficulty
finding buyers for new commercial paper sales since the sec
investigation was announced , the traders said .
today , enron offered two - week commercial paper at a 3 percent
yield , 10 to 15 basis points above comparably rated companies .
` ` there appears to be enough liquidity to give them enough
time to get their house in order , ' ' said jon kyle cartwright ,
senior energy credit analyst at raymond james in dry seasons , when the dams
can ' t operate as well , enron pays the district .
` ` if enron ' s credit went bad , or they folded up , that
agreement wouldn ' t get picked up by someone else , ' ' tracy said .
enron also helps many u . s . utilities protect themselves from
electricity and natural gas price fluctuations in the same way it
helps the sacramento utility district hedge against too little
rainfall . any impairment on enron ' s part to continue doing so
would trickle down to main street utilities , tracy said .
` ` utilities would start reserving more on their balance
sheets for price swings , ' ' tracy said .
- - russell hubbard in the princeton newsroom at 609 - 750 - 4651 , or at
enron broadband begins closing london , singapore offices
by erwin seba
of dow jones newswires
10 / 25 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones 713 - 547 - 9214 ; erwin . seba @ dowjones . com
copyright ? 2000 dow jones no calif pwr contract talks
10 / 25 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones 201 - 938 - 4604 ; mark . golden @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
spector , roseman & kodroff , p . c . files class action suit against enron corporation
10 / 25 / 2001
pr newswire
( copyright ( c ) 2001 , pr newswire )
philadelphia , oct . 25 / prnewswire / - - the law firm of spector , roseman ( ii ) that the company ' s operating results were materially overstated as result of the company failing to timely write - down the value of its investments with certain limited partnerships which were managed by the company ' s chief financial officer ; and ( iii ) that enron was failing to write - down impaired assets on a timely basis in accordance with gaap . on october 16 , 2001 , enron surprised the market by announcing that the company was taking non - recurring charges of $ 1 . 01 billion after - tax , or ( $ 1 . 11 ) loss per diluted share , in the third quarter of 2001 , the period ending september 30 , 2001 . subsequently , enron revealed that a material portion of the charge related to the unwinding of investments with certain limited partnerships which were controlled by enron ' s chief financial officer and that the company would be eliminating more than $ 1 billion in shareholder equity as a result of its unwinding of the investments . as this news began to be assimilated by the market , the price of enron common stock dropped significantly . during the class period , enron insiders disposed of over $ 73 million of their personally held enron common stock to unsuspecting investors .
if you purchased enron securities during the class period , you may , no later than december 21 , 2001 , move to be appointed as a lead plaintiff in this class action . a lead plaintiff is a representative , chosen by the court , that acts on behalf of other class members in directing the litigation . the private securities litigation reform act of 1995 directs courts to assume that the class member ( s ) with the " largest financial interest " in the outcome of the case will best serve the class in this capacity . courts have discretion in determining which class member ( s ) have the " largest financial interest , " and have appointed lead plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth . if you have sustained substantial losses in enron securities during the class period , please contact spector , roseman & kodroff , p . c . at classaction @ srk - law . com for a more thorough explanation of the lead plaintiff selection process . if you have relatively small losses , your ability to participate in any recovery will be protected by the lead plaintiff ( s ) , and you need take no affirmative steps at this time .
if you wish to discuss this action or have any questions concerning this notice or your rights or interests , please contact plaintiff ' s counsel robert m . roseman toll - free at 888 - 844 - 5862 or via e - mail at classaction @ srk - law . com . for more detailed information about the firm please visit its website at http : / / www . spectorandroseman . com .
spector , roseman & kodroff , p . c . , located in philadelphia , pennsylvania and san diego , california , concentrates its practice in complex litigation including actions dealing with securities laws , antitrust , contract and commercial claims . the firm is active in major litigation pending in federal and state courts throughout the united states . the firm ' s reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws , and consumer fraud . as a result of the efforts of the firm , and its members , hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies .
make your opinion count - click here
/ contact : robert roseman of spector , roseman & kodroff , p . c . , + 1 - 888 - 844 - 5862 / 19 : 00 edt
copyright ? 2000 dow jones & company , inc . all rights reserved .
tgs q 3 net profit up 22 pct yr - on - yr on higher ngl sales , transport revenues
10 / 25 / 2001
afx news
( c ) 2001 by afp - extel news ltd
buenos aires ( afx ) - perez companc sa and enron corp pipeline joint venture , transportadora de gas del sur sa , said its net profit in the three months to september rose 22 pct year - on - year to 37 mln pesos on the back of strong growth in sales of natural gas liquids ( ngl ) and increased revenue from transport .
total revenue grew 24 pct year - on - year to 147 mln pesos , as " tgs continues to grow its revenues in all of its business segments , " ceo eduardo ojea quintana said .
ngl sales surged 86 pct year - on - year to 31 . 1 mln pesos , after a partial takeover of the cerri complex ' s production at bahia blanca , although volumes declined as a result of the start - up of the mega project at the beginning of 2001 , ojea quintana said .
gas transport revenue rose 11 pct year - on - year to 109 . 6 mln pesos as average gas transportation contracted capacity rose 6 pct to 62 . 5 mln cubic metres daily , following a capacity expansion completed in june .
however , he also noted " important challenges , mostly associated with the relevant regulatory issues that remain unresolved , as well as the deep economic crisis that argentina is currently undergoing . "
" these negative factors have adversely affected our investment plans for the current year and for 2002 , " ojea quintana added .
lac / zr for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron draws down credit facility
10 / 25 / 2001
dow jones news service
( copyright ( c ) 2001 , dow jones & company , inc . )
houston - ( dow jones ) - enron corp . ( ene ) drew on committed lines of credit to provide cash liquidity of more than $ 1 billion .
in a press release thursday , the energy company said it has " more than adequate " liquidity to fulfill business commitments .
enron said the credit action is a step to restore investor confidence , and it plans to update investors in several days regarding plans to maintain its long - term credit rating .
earlier thursday , standard dow jones newswires ; 201 - 938 - 5388
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron employees watch options devalue as shares fall ( correct )
2001 - 10 - 25 18 : 41 ( new york )
enron employees watch options devalue as shares fall ( correct )
( company corrects structure of standard compensation package
in second paragraph . )
houston , oct . 25 ( bloomberg ) - - enron corp . prided itself on
sharing the wealth with employees when the company was posting
record profits last year . now , from the boardroom to the mailroom ,
employees are sharing the pain .
enron , the largest energy trader , grants stock options to the
bulk of its 20 , 000 employees . under enron ' s standard compensation
package , most employees get stock options equal to
5 percent of their annual base salary , spokeswoman meredith
philipp said .
employees held 46 . 8 million exercisable options as of the end
of 2000 , all at average prices above the company ' s current share
price . the stock has dropped 80 percent this year .
` ` virtually every option is under water right now , ' ' enron
spokeswoman karen denne said .
enron ' s board sets the strike price for the options in
december or january . employees can ' t cash the options in and make
a profit unless the stock is trading above the strike price . at
the end of 2000 , enron shares were trading at $ 83 . 13 . in december ,
the board set a strike price of about $ 80 .
shares of houston - based enron fell 6 cents to $ 16 . 35 today .
they have lost 37 percent of their value so far this week .
enron said monday that the securities and exchange commission
was asking questions about partnerships run by andrew fastow , who
was ousted as enron ' s chief financial officer yesterday . one
partnership cost the company $ 35 million , and enron bought back 62
million shares from a partnership at a cost of $ 1 . 2 billion .
enron named jeff mcmahon , head of its industrial markets
group , as cfo late yesterday .
unvested options
another 96 . 1 million options granted to enron employees
hadn ' t vested as of the end of last year . about 15 . 4 million of
them , or 16 percent , were at prices ranging from $ 6 . 88 to $ 20 a
share . the rest vest at levels well above the current share price .
experts who have watched the devaluation of stock options in
other industries , such as technology and telecommunications , say
it becomes demoralizing for workers to watch share prices fall
below their options .
` ` it looks bad , ' ' said mark edwards , chairman of iquantic
buck , a mellon financial corp . unit that provides compensation
consulting . ` ` employees look at ( the stock price ) every day , and
it ' s a continued disincentive to them . ' '
while denne said enron doesn ' t have any plans to reprice its
employees ' options , the company did issue a one - time stock option
grant at $ 36 . 88 in august , when ken lay resumed his former role as
the company ' s chief executive . lay , who had held the job for 15
years , turned the position over to jeffrey skilling in february .
skilling quit in august , citing family reasons .
the august grant , which was equivalent to 5 percent of
employees ' base salary , didn ' t require a vesting period , but was
exercisable immediately . enron ' s shares haven ' t closed above
$ 36 . 88 since aug . 29 .
- - margot habiby in the dallas newsroom ( 214 ) 954 - 9452 , or | 2001-10-26T00:00:00 |
30,132 | want a cheap rolex watch ? http : / / vbm . beud . com / r / giggles / | 1 | spam | want a cheap rolex watch ? | http : / / vbm . beud . com / r / giggles / | 2004-10-25T00:00:00 |
13,751 | proposal john / louise - requested proposal :
1 . temporarily end transfers to trading floor with the exception of those in the trading track program .
2 . extend analyst rotations by 6 months in order to maintain current business support levels . ( currently , i have 10 analysts in my group . 3 rotating in the next 3 months )
3 . guarantee february bonuses ( preferably in writing ) to select group of individuals .
benefits :
no additional compensation ( beyond normal bonus pool )
continued development of analysts / all personnel
continuity of personnel | 0 | ham | proposal | john / louise - requested proposal :
1 . temporarily end transfers to trading floor with the exception of those in the trading track program .
2 . extend analyst rotations by 6 months in order to maintain current business support levels . ( currently , i have 10 analysts in my group . 3 rotating in the next 3 months )
3 . guarantee february bonuses ( preferably in writing ) to select group of individuals .
benefits :
no additional compensation ( beyond normal bonus pool )
continued development of analysts / all personnel
continuity of personnel | 2001-11-04T00:00:00 |
24,005 | april 30 operational risk meeting dear sally ,
beth and i are planning to put on a risk management / mrm rac meeting to go
over :
the bod policy
what mrm rac is responsible for and
brainstorm on current and future responsibilities for analytics ( curve vals
etc )
we would like to do it at the april 30 operational risk meeting if you don ' t
have any other plans .
we want to invite - key mrm rac members
risk personnel from ea , egm , eim , ees and ebs .
# people - approx . 22 ( + 3 from canada by phone )
please let me know if you have any other plans for that time or if we can go
ahead and use it .
thanks
shona | 0 | ham | april 30 operational risk meeting | dear sally ,
beth and i are planning to put on a risk management / mrm rac meeting to go
over :
the bod policy
what mrm rac is responsible for and
brainstorm on current and future responsibilities for analytics ( curve vals
etc )
we would like to do it at the april 30 operational risk meeting if you don ' t
have any other plans .
we want to invite - key mrm rac members
risk personnel from ea , egm , eim , ees and ebs .
# people - approx . 22 ( + 3 from canada by phone )
please let me know if you have any other plans for that time or if we can go
ahead and use it .
thanks
shona | 2001-04-12T00:00:00 |
14,359 | re : kiodex anne - -
dave forster has recently assumed respnsibility for all things enrononline . please forward this information to him and i will make sure he has all the background .
thanks ,
brad | 0 | ham | re : kiodex | anne - -
dave forster has recently assumed respnsibility for all things enrononline . please forward this information to him and i will make sure he has all the background .
thanks ,
brad | 2001-12-12T00:00:00 |
12,646 | abb enron canada may be close to selling the abb units for over $ 35 mm . please refrain from offering a lower price to brokers , consultants , etc . on these units for a week . we should still mention them as available and should still work on putting them on eol ( if this party is real , it might be slick to have them close the transaction electronically ! ) .
chris calger
503 - 464 - 3735 | 0 | ham | abb | enron canada may be close to selling the abb units for over $ 35 mm . please refrain from offering a lower price to brokers , consultants , etc . on these units for a week . we should still mention them as available and should still work on putting them on eol ( if this party is real , it might be slick to have them close the transaction electronically ! ) .
chris calger
503 - 464 - 3735 | 2001-08-31T00:00:00 |
1,577 | re : equistar buybacks the only valid " buyback " ticket for meter # : 1373 is sitara ticket # :
246408 . s . ticket # : 156342 is an old ticket which was used to set up
buyback
ticket across equistar ' s meters { 1552 , 1384 , 1062 , 1553 } . if you recall
this process was done to enable client services to automate equistar
allocation / billing . the project took place around april 2000
production retroactive back to jan . 1999 . the link to compute the buyback is
set up
on s . ticket # 246408 .
since equistar has begun doing business via ena , it was necessary to
establish a " buyback ticket " on ena ' s matrix .
thus , to answer your question , yes there should only be one " buyback
ticket " for meter # : 1373 on hpl and ena .
ena activity is kept whole and the swing is on hpl .
i hope i have addressed all of your questions below however , i am
available for follow up discussion if needed .
it has been a pleasure working with you . i learned a lot about the
business while scheduling industrials and thanks for the opportunity .
daren j farmer
09 / 07 / 2000 08 : 32 am
to : robert e lloyd / hou / ect @ ect
cc : pat clynes / corp / enron @ enron
subject : equistar buybacks
robert ,
there are three buy back tickets in sitara for equistar at mtr 1373 . two for
hpl and one under ena . shouldn ' t we have only one buyback for each company ?
also , how do you have the meter set up to allocate between the ena contract
and hpl contract ?
d | 0 | ham | re : equistar buybacks | the only valid " buyback " ticket for meter # : 1373 is sitara ticket # :
246408 . s . ticket # : 156342 is an old ticket which was used to set up
buyback
ticket across equistar ' s meters { 1552 , 1384 , 1062 , 1553 } . if you recall
this process was done to enable client services to automate equistar
allocation / billing . the project took place around april 2000
production retroactive back to jan . 1999 . the link to compute the buyback is
set up
on s . ticket # 246408 .
since equistar has begun doing business via ena , it was necessary to
establish a " buyback ticket " on ena ' s matrix .
thus , to answer your question , yes there should only be one " buyback
ticket " for meter # : 1373 on hpl and ena .
ena activity is kept whole and the swing is on hpl .
i hope i have addressed all of your questions below however , i am
available for follow up discussion if needed .
it has been a pleasure working with you . i learned a lot about the
business while scheduling industrials and thanks for the opportunity .
daren j farmer
09 / 07 / 2000 08 : 32 am
to : robert e lloyd / hou / ect @ ect
cc : pat clynes / corp / enron @ enron
subject : equistar buybacks
robert ,
there are three buy back tickets in sitara for equistar at mtr 1373 . two for
hpl and one under ena . shouldn ' t we have only one buyback for each company ?
also , how do you have the meter set up to allocate between the ena contract
and hpl contract ?
d | 2000-09-09T00:00:00 |
41 | new nat gas delivery location pursuant to our recent confirmation i have drafted some suggested language
for the houston ship channel pooling point :
abbreviation : hpl - hsc
sort code : [ tbd ]
description : the transaction is for delivery via the houston pipe line
company to the houston ship channel , zone 10 .
elsa and darren ; please approve or offer comments regarding the content of
description . | 0 | ham | new nat gas delivery location | pursuant to our recent confirmation i have drafted some suggested language
for the houston ship channel pooling point :
abbreviation : hpl - hsc
sort code : [ tbd ]
description : the transaction is for delivery via the houston pipe line
company to the houston ship channel , zone 10 .
elsa and darren ; please approve or offer comments regarding the content of
description . | 1999-12-22T00:00:00 |
23,606 | re : london spreadsheet feeds . fyi on spread sheet feeds .
- - - - - - - - - - - - - - - - - - - - - - forwarded by james new / lon / ect on 08 / 12 / 2000 09 : 36
- - - - - - - - - - - - - - - - - - - - - - - - - - -
enron europe
from : hugo moreira 07 / 12 / 2000 17 : 17
to : david hardy / lon / ect @ ect
cc : jubril oguja / lon / ect @ ect , james new / lon / ect @ ect , debbie r
brackett / hou / ect @ ect , phil yoxall / lon / ect @ ect , john paskin / lon / ect @ ect ,
ganapathy ramesh / hou / ect @ ect , john d powell / hou / ect @ ect , david a wall / risk
mgmt / lon / ect @ ect
subject : re : london spreadsheet feeds .
david ,
i confirm that all spreadsheets but spreadid 2 , 8 and 9 will be sent to
risktrac test and cas test .
spreadid no . 2 will be sent to risktrac & cas production .
per rac , spreadid no . 8 and 9 will be roll - out later .
hugo
david hardy
07 / 12 / 2000 15 : 45
to : jubril oguja / lon / ect @ ect , hugo moreira / lon / ect @ ect , james
new / lon / ect @ ect , debbie r brackett / hou / ect @ ect , phil yoxall / lon / ect @ ect , john
paskin / lon / ect @ ect , ganapathy ramesh / hou / ect @ ect , john d powell / hou / ect @ ect
cc :
subject : london spreadsheet feeds .
all ,
my understanding is that all the spreadsheets listed on the attachments will
be sent to houston tomorrow .
all except spreadid no . 2 will be sent to risktrac test and cas test .
spreadid no . 2 will be sent to risktrac & cas production .
please advise ( all the above addressees ) if this is not the case / going to
happen .
regards
david | 0 | ham | re : london spreadsheet feeds . | fyi on spread sheet feeds .
- - - - - - - - - - - - - - - - - - - - - - forwarded by james new / lon / ect on 08 / 12 / 2000 09 : 36
- - - - - - - - - - - - - - - - - - - - - - - - - - -
enron europe
from : hugo moreira 07 / 12 / 2000 17 : 17
to : david hardy / lon / ect @ ect
cc : jubril oguja / lon / ect @ ect , james new / lon / ect @ ect , debbie r
brackett / hou / ect @ ect , phil yoxall / lon / ect @ ect , john paskin / lon / ect @ ect ,
ganapathy ramesh / hou / ect @ ect , john d powell / hou / ect @ ect , david a wall / risk
mgmt / lon / ect @ ect
subject : re : london spreadsheet feeds .
david ,
i confirm that all spreadsheets but spreadid 2 , 8 and 9 will be sent to
risktrac test and cas test .
spreadid no . 2 will be sent to risktrac & cas production .
per rac , spreadid no . 8 and 9 will be roll - out later .
hugo
david hardy
07 / 12 / 2000 15 : 45
to : jubril oguja / lon / ect @ ect , hugo moreira / lon / ect @ ect , james
new / lon / ect @ ect , debbie r brackett / hou / ect @ ect , phil yoxall / lon / ect @ ect , john
paskin / lon / ect @ ect , ganapathy ramesh / hou / ect @ ect , john d powell / hou / ect @ ect
cc :
subject : london spreadsheet feeds .
all ,
my understanding is that all the spreadsheets listed on the attachments will
be sent to houston tomorrow .
all except spreadid no . 2 will be sent to risktrac test and cas test .
spreadid no . 2 will be sent to risktrac & cas production .
please advise ( all the above addressees ) if this is not the case / going to
happen .
regards
david | 2000-12-08T00:00:00 |
3,540 | ship channel hub co please review / comment on the attached presentation
gary - can you and jd take ownership of this . once we incorporate everyone ' s comments , we can set up a meeting with air products , dow , and others to discuss .
thanks ,
brian | 0 | ham | ship channel hub co | please review / comment on the attached presentation
gary - can you and jd take ownership of this . once we incorporate everyone ' s comments , we can set up a meeting with air products , dow , and others to discuss .
thanks ,
brian | 2001-10-15T00:00:00 |
25,789 | great newws hello , welcome to the medzo missile nline
- online pharmaceutica downstairs l shop .
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have a nice day . | 1 | spam | great newws | hello , welcome to the medzo missile nline
- online pharmaceutica downstairs l shop .
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sapper um denizen vi
r deserter a censorship ci
i pragmatism s
inchoate li
triumvirate ag
a sicilian l
andmanyother .
with our sh drupelet op you get -
bes blotter t prlces
excell polymorphism ent service
fas earthwards t shipping
private on amends line ordering
have a nice day . | 2005-06-27T00:00:00 |
8,410 | garp presentation vince ,
would i be able to get a copy of your presentation last night at garp ? i
have a coworker who was unable to attend .
thanks ,
allen bryson
conoco inc | 0 | ham | garp presentation | vince ,
would i be able to get a copy of your presentation last night at garp ? i
have a coworker who was unable to attend .
thanks ,
allen bryson
conoco inc | 2001-01-30T00:00:00 |
11,484 | re : i ' m cleaning up the balance sheet still and two new things next to your name
antelope is a project that we acquired last year from aes . the project has land , some early permits , and a transmission queue position that we used at pastoria . total consideration paid to aes was approximately $ 15 mm , most of which was charged to pastoria . the resulting cost basis should be about $ 1 . 8 mm plus the erc ' s not used at pastoria ( approx . $ 6 mm ) . over the next 4 months we will determine whether we want to pursue the project or , if not , write off the $ 1 . 8 mm and sell / transfer the erc ' s for a gain of $ 1 . 8 mm + .
coyote springs was a project that we developed and sold in 2000 . it was a 280 mw 7 fa that we co - developed with portland general and sold pre - construction to avista for a $ 18 mm promote . there should not be any balance sheet exposure associated with it - we are done .
louise kitchen
04 / 16 / 2001 02 : 24 pm
to : christopher f calger / pdx / ect @ ect
cc :
subject : i ' m cleaning up the balance sheet still and two new things next to your name
what are antelope and coyote springs ?
thanks
louise | 0 | ham | re : i ' m cleaning up the balance sheet still and two new things next | to your name
antelope is a project that we acquired last year from aes . the project has land , some early permits , and a transmission queue position that we used at pastoria . total consideration paid to aes was approximately $ 15 mm , most of which was charged to pastoria . the resulting cost basis should be about $ 1 . 8 mm plus the erc ' s not used at pastoria ( approx . $ 6 mm ) . over the next 4 months we will determine whether we want to pursue the project or , if not , write off the $ 1 . 8 mm and sell / transfer the erc ' s for a gain of $ 1 . 8 mm + .
coyote springs was a project that we developed and sold in 2000 . it was a 280 mw 7 fa that we co - developed with portland general and sold pre - construction to avista for a $ 18 mm promote . there should not be any balance sheet exposure associated with it - we are done .
louise kitchen
04 / 16 / 2001 02 : 24 pm
to : christopher f calger / pdx / ect @ ect
cc :
subject : i ' m cleaning up the balance sheet still and two new things next to your name
what are antelope and coyote springs ?
thanks
louise | 2001-04-16T00:00:00 |
2,221 | re : tenaska iv 10 / 00 we have received all of the money from the spot sales for tenaska iv in
october 2000 , except for the tenaska iv sale and the $ 0 . 04 fee .
megan | 0 | ham | re : tenaska iv 10 / 00 | we have received all of the money from the spot sales for tenaska iv in
october 2000 , except for the tenaska iv sale and the $ 0 . 04 fee .
megan | 2000-12-13T00:00:00 |
22,713 | supervisory leadership classes - - - - - - - - - - - - - - - - - - - - - - forwarded by susan harrison / hou / ect on 03 / 20 / 2000
11 : 20 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
susan harrison
03 / 17 / 2000 04 : 27 pm
to : kathryn cordes / hou / ect @ ect , bryce baxter / hou / ect @ ect , carrie
hollomon / hou / ect @ ect , jeffrey c gossett / hou / ect @ ect , william
kelly / hou / ect @ ect , kam keiser / hou / ect @ ect , david oliver / hou / ect @ ect ,
jefferson d sorenson / hou / ect @ ect , bob klein / hou / ect @ ect
cc : brent a price / hou / ect @ ect , steve jackson / hou / ect @ ect , robert
superty / hou / ect @ ect , scott mills / hou / ect @ ect
subject : supervisory leadership classes
by now , you should be aware of the supervisory leadership curriculum rolled
out by greg whalley a couple of weeks ago ( see the posters in our elevator
banks ) . this curriculum was designed at the request of senior management to
provide new and future leaders the opportunity to prepare for such roles .
feedback from the program administrators is that there has been a low
response rate . this may be due to confusion about eligibility and cost .
just to clarify - all of you are eligible to participate . in fact , you are
strongly encouraged to participate . further , those individuals within your
groups that are leading efforts or are expected to step into such a role are
encouraged to participate . please keep in mind that individuals don ' t
currently have to be supervisors to attend the training ; the idea is to
provide training for new situations encountered as leaders . generally
speaking , those at the specialist level and above should be considered for
these classes - just use your judgment .
although there is a cost associated with these classes , it is minimal in
comparison to the returns that can be gained through participation .
guidelines are available to help you target specific needs for yourself and
your staff . please contact the training department to obtain a curriculum
guide .
let me know if you have any questions .
thanks ,
susan | 0 | ham | supervisory leadership classes | - - - - - - - - - - - - - - - - - - - - - - forwarded by susan harrison / hou / ect on 03 / 20 / 2000
11 : 20 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
susan harrison
03 / 17 / 2000 04 : 27 pm
to : kathryn cordes / hou / ect @ ect , bryce baxter / hou / ect @ ect , carrie
hollomon / hou / ect @ ect , jeffrey c gossett / hou / ect @ ect , william
kelly / hou / ect @ ect , kam keiser / hou / ect @ ect , david oliver / hou / ect @ ect ,
jefferson d sorenson / hou / ect @ ect , bob klein / hou / ect @ ect
cc : brent a price / hou / ect @ ect , steve jackson / hou / ect @ ect , robert
superty / hou / ect @ ect , scott mills / hou / ect @ ect
subject : supervisory leadership classes
by now , you should be aware of the supervisory leadership curriculum rolled
out by greg whalley a couple of weeks ago ( see the posters in our elevator
banks ) . this curriculum was designed at the request of senior management to
provide new and future leaders the opportunity to prepare for such roles .
feedback from the program administrators is that there has been a low
response rate . this may be due to confusion about eligibility and cost .
just to clarify - all of you are eligible to participate . in fact , you are
strongly encouraged to participate . further , those individuals within your
groups that are leading efforts or are expected to step into such a role are
encouraged to participate . please keep in mind that individuals don ' t
currently have to be supervisors to attend the training ; the idea is to
provide training for new situations encountered as leaders . generally
speaking , those at the specialist level and above should be considered for
these classes - just use your judgment .
although there is a cost associated with these classes , it is minimal in
comparison to the returns that can be gained through participation .
guidelines are available to help you target specific needs for yourself and
your staff . please contact the training department to obtain a curriculum
guide .
let me know if you have any questions .
thanks ,
susan | 2000-03-20T00:00:00 |
8,176 | re : costless collar for hanover bob ,
good job .
zimin
bob lee @ enron
01 / 11 / 2001 08 : 10 am
to : zimin lu / hou / ect @ ect
cc :
subject : costless collar for hanover
fyi - looks like we ' ve converged .
bob
- - - - - - - - - - - - - - - - - - - - - - forwarded by bob lee / na / enron on 01 / 11 / 2001 07 : 04 am
- - - - - - - - - - - - - - - - - - - - - - - - - - -
from : chris loehr @ ect on 01 / 10 / 2001 04 : 50 pm
to : ron baker / corp / enron @ enron
cc : anne yaeger / hou / ect @ ect , ryan siurek / corp / enron @ enron , wes
colwell / hou / ect @ ect , bob lee / na / enron @ enron
subject : costless collar for hanover
ryan and i have looked at the research model and made some adjustments .
the treasury rate at 12 / 28 / 00 was 5 . 127 % ( research uses 4 . 6 % which probably
takes into account the recent fed 50 bp cut )
the maturity is 6 / 30 / 03 or 2 . 5 years ( research uses 3 years )
using these assumptions and a 47 . 2 % volatility in the bloomberg collar
function results in a ceiling of 92 103 / 256 and a floor of 34 7 / 8 . after
adjusting the research model for the changes above , ryan and i got a similar
range from the research model so we are comfortable with these numbers .
let me know if there are any questions .
chris
x 33092
ron baker @ enron
01 / 10 / 2001 10 : 52 am
to : wes colwell / hou / ect @ ect , ryan siurek / corp / enron @ enron , chris
loehr / hou / ect @ ect , anne yaeger / hou / ect @ ect
cc :
subject : costless collar
attached is the updated valuation from bob lee in research using the actual
3 - year historical vol . of 47 . 2 which results in a call strike of 97 . 978 .
also , he has confirmed that the presence of the swap has no impact on the
value of the collar . let me know if you have questions . thanks ,
ron
- - - - - forwarded by ron baker / corp / enron on 01 / 10 / 2001 10 : 28 am - - - - -
bob lee
01 / 10 / 2001 08 : 44 am
to : andrea v reed / hou / ect @ ect , ron baker / corp / enron @ enron
cc : zimin lu / hou / ect @ ect
subject : costless collar
here ' s the calculation using the historical volatility . the strike drops
slightly . the volatility in the calculation is the expected future
vol ; atility - looking at traded options for hc and an expected fall off in
vol for long dated options , one could justify a vol estimate in the range 40
- 50 % for the collar .
the presence of the swap makes no difference on the collar valuation .
bob | 0 | ham | re : costless collar for hanover | bob ,
good job .
zimin
bob lee @ enron
01 / 11 / 2001 08 : 10 am
to : zimin lu / hou / ect @ ect
cc :
subject : costless collar for hanover
fyi - looks like we ' ve converged .
bob
- - - - - - - - - - - - - - - - - - - - - - forwarded by bob lee / na / enron on 01 / 11 / 2001 07 : 04 am
- - - - - - - - - - - - - - - - - - - - - - - - - - -
from : chris loehr @ ect on 01 / 10 / 2001 04 : 50 pm
to : ron baker / corp / enron @ enron
cc : anne yaeger / hou / ect @ ect , ryan siurek / corp / enron @ enron , wes
colwell / hou / ect @ ect , bob lee / na / enron @ enron
subject : costless collar for hanover
ryan and i have looked at the research model and made some adjustments .
the treasury rate at 12 / 28 / 00 was 5 . 127 % ( research uses 4 . 6 % which probably
takes into account the recent fed 50 bp cut )
the maturity is 6 / 30 / 03 or 2 . 5 years ( research uses 3 years )
using these assumptions and a 47 . 2 % volatility in the bloomberg collar
function results in a ceiling of 92 103 / 256 and a floor of 34 7 / 8 . after
adjusting the research model for the changes above , ryan and i got a similar
range from the research model so we are comfortable with these numbers .
let me know if there are any questions .
chris
x 33092
ron baker @ enron
01 / 10 / 2001 10 : 52 am
to : wes colwell / hou / ect @ ect , ryan siurek / corp / enron @ enron , chris
loehr / hou / ect @ ect , anne yaeger / hou / ect @ ect
cc :
subject : costless collar
attached is the updated valuation from bob lee in research using the actual
3 - year historical vol . of 47 . 2 which results in a call strike of 97 . 978 .
also , he has confirmed that the presence of the swap has no impact on the
value of the collar . let me know if you have questions . thanks ,
ron
- - - - - forwarded by ron baker / corp / enron on 01 / 10 / 2001 10 : 28 am - - - - -
bob lee
01 / 10 / 2001 08 : 44 am
to : andrea v reed / hou / ect @ ect , ron baker / corp / enron @ enron
cc : zimin lu / hou / ect @ ect
subject : costless collar
here ' s the calculation using the historical volatility . the strike drops
slightly . the volatility in the calculation is the expected future
vol ; atility - looking at traded options for hc and an expected fall off in
vol for long dated options , one could justify a vol estimate in the range 40
- 50 % for the collar .
the presence of the swap makes no difference on the collar valuation .
bob | 2001-01-11T00:00:00 |
6,870 | re : extreme value theory applied to weathet dear vince and grant ,
i am currently reviewing some of the more erecent references on evt and its
application . i get back to you shortly with some points regarding the
usefulness of evt and how traders ( electricity and weather ) can benefit from
evt .
cheers ,
christian
to : christian werner / enron _ development @ enron _ development
cc :
subject : re : extreme value theory applied to weathet
christian :
to my knowledge , the research group is examining evt primarily in the context
of value at risk calculations . we have not looked at evt for power , because ,
to date , we have been focussing on shorter term fundamental forecasting of
price excursions : i . e . given tomorrow ' s load forecasts and expected plant
dispatch , we attempt to predict which lines will become constrained and how
the system will react to alleviate these constraints . i would be interested
in your thoughts on how evt would benefit the traders however . as far as the
weather goes , i would expect the weather desk to use evt at some level .
clearly you should talk to joe hrgovcic , the researhc chap attached to the
weather desk , for a more accurate assessment .
cheers ,
grant . | 0 | ham | re : extreme value theory applied to weathet | dear vince and grant ,
i am currently reviewing some of the more erecent references on evt and its
application . i get back to you shortly with some points regarding the
usefulness of evt and how traders ( electricity and weather ) can benefit from
evt .
cheers ,
christian
to : christian werner / enron _ development @ enron _ development
cc :
subject : re : extreme value theory applied to weathet
christian :
to my knowledge , the research group is examining evt primarily in the context
of value at risk calculations . we have not looked at evt for power , because ,
to date , we have been focussing on shorter term fundamental forecasting of
price excursions : i . e . given tomorrow ' s load forecasts and expected plant
dispatch , we attempt to predict which lines will become constrained and how
the system will react to alleviate these constraints . i would be interested
in your thoughts on how evt would benefit the traders however . as far as the
weather goes , i would expect the weather desk to use evt at some level .
clearly you should talk to joe hrgovcic , the researhc chap attached to the
weather desk , for a more accurate assessment .
cheers ,
grant . | 2000-08-23T00:00:00 |
8,690 | re : possible rtp conference dear professor huntington ,
thursday 10 a . m . works for me .
please , let me know where i can meet you .
i am attaching my itinerary , so that you can contact me
if necessary
.
my cell phone number is 713 410 5396 .
vince kaminski | 0 | ham | re : possible rtp conference | dear professor huntington ,
thursday 10 a . m . works for me .
please , let me know where i can meet you .
i am attaching my itinerary , so that you can contact me
if necessary
.
my cell phone number is 713 410 5396 .
vince kaminski | 2001-03-12T00:00:00 |
373 | march 1 noms - - - - - - - - - - - - - - - - - - - - - - forwarded by ami chokshi / corp / enron on 02 / 28 / 2000
11 : 16 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
troy _ a _ benoit @ reliantenergy . com on 02 / 28 / 2000 11 : 10 : 16 am
to : " ami chokshi "
cc :
subject : march 1 noms
( see attached file : egmnom - mar . xls )
- egmnom - mar . xls | 0 | ham | march 1 noms | - - - - - - - - - - - - - - - - - - - - - - forwarded by ami chokshi / corp / enron on 02 / 28 / 2000
11 : 16 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
troy _ a _ benoit @ reliantenergy . com on 02 / 28 / 2000 11 : 10 : 16 am
to : " ami chokshi "
cc :
subject : march 1 noms
( see attached file : egmnom - mar . xls )
- egmnom - mar . xls | 2000-02-28T00:00:00 |
14,635 | central implementation plan laura | 0 | ham | central implementation plan | laura | 2002-01-07T00:00:00 |
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i ¡ ¯ m a youngwoman who tried the obese loose programs . the combination
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start in no time and flnd the best bargain on medics at our cyberzone . at
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anne was still in the lane ; and though instinctively beginning to decline ,
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bad credit ? doesn ' t matter , low rates are fixed no matter what !
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23,231 | re : enron japan commercial support model sally
hello again , and how are you ?
i guess you are still as busy as described below , but i hope you got some
time out from your friday concept , and have had some time to think about
japan . fyi , on wednesday i will have a confrence call with brent price to
talk about egm and japan , from a commercial support perspective .
fyi , i am up in oslo this week signing off enron nordic energy , and are
comming to san antonio next week for this accounting offsite , where i guess i
will see you ? any news on the offsite you were planning in october with mike ?
i look forward to hear from you .
regards
jan - erland
to : jan - erland bekeng / ap / enron @ enron
cc :
subject : re : enron japan commercial support model
thanks for your comprehensive note on your plans for middle and back office
in japan . i have done a quick review , and i agree with your thought
processes . i also agree that being able to leverage trading operations
personnel and experience in sydney , with lower wages , makes a lot of sense .
while distance is great , the small time zone difference makes this a good
option .
i want to take a little more time to review this in more detail . after
several months of schedules that have been too full , i have initiated a
practice of holding one day a week open for work at my desk , with no
meetings . that day is friday this week , so i have put a review of your
document on the list for more careful review on friday . i can send you a
note then if there are any other comments that i have .
i should have apologized in the first paragraph for standing you up while
you were here in houston . jeff shankman was on the war path with some
concerns over v @ r calculations on the day that you were in town , and my
schedule was thrown to the winds until we could get him comfortable with the
calculations ( he was over his limit that day - - never any questions when he
is under ! ) . i hope that we will have the opportunity to speak in person
sometime in the not too distant future .
mike jordan and i have been working on a worldwide forum for business
controllers for all commodities and offices . i am working on securing a
location in or around houston , shooting for october 23 , 24 as potential
dates . more details to come on that in the next day or so . i know that is a
long way from toyko , but if the dates work for you i hope that you can join
us . | 0 | ham | re : enron japan commercial support model | sally
hello again , and how are you ?
i guess you are still as busy as described below , but i hope you got some
time out from your friday concept , and have had some time to think about
japan . fyi , on wednesday i will have a confrence call with brent price to
talk about egm and japan , from a commercial support perspective .
fyi , i am up in oslo this week signing off enron nordic energy , and are
comming to san antonio next week for this accounting offsite , where i guess i
will see you ? any news on the offsite you were planning in october with mike ?
i look forward to hear from you .
regards
jan - erland
to : jan - erland bekeng / ap / enron @ enron
cc :
subject : re : enron japan commercial support model
thanks for your comprehensive note on your plans for middle and back office
in japan . i have done a quick review , and i agree with your thought
processes . i also agree that being able to leverage trading operations
personnel and experience in sydney , with lower wages , makes a lot of sense .
while distance is great , the small time zone difference makes this a good
option .
i want to take a little more time to review this in more detail . after
several months of schedules that have been too full , i have initiated a
practice of holding one day a week open for work at my desk , with no
meetings . that day is friday this week , so i have put a review of your
document on the list for more careful review on friday . i can send you a
note then if there are any other comments that i have .
i should have apologized in the first paragraph for standing you up while
you were here in houston . jeff shankman was on the war path with some
concerns over v @ r calculations on the day that you were in town , and my
schedule was thrown to the winds until we could get him comfortable with the
calculations ( he was over his limit that day - - never any questions when he
is under ! ) . i hope that we will have the opportunity to speak in person
sometime in the not too distant future .
mike jordan and i have been working on a worldwide forum for business
controllers for all commodities and offices . i am working on securing a
location in or around houston , shooting for october 23 , 24 as potential
dates . more details to come on that in the next day or so . i know that is a
long way from toyko , but if the dates work for you i hope that you can join
us . | 2000-09-05T00:00:00 |
29,172 | tw contract / capacity release system implementation the long awaited transwestern web based contract and capacity release system will go live sunday march 10 , 2002 . the implementation team will be on site from saturday evening thru sunday evening to assure the system is performing properly . should you receive any calls from customers related to the new system please direct the calls to one of the following individuals :
elizabeth brown - 36928
dennis lee - 31715
linda trevino - 35413
rick dietz - 35691
thanks to all of you who provided assistance to the team the past few months . your imput and cooperation was greatly appreciated .
a couple of reminders :
houston customer training - thursday march 14 th & friday march 15 th
marketing dept training - monday march 18 th & thursday march 21 st
call if you have further questions .
thanks
linda | 0 | ham | tw contract / capacity release system implementation | the long awaited transwestern web based contract and capacity release system will go live sunday march 10 , 2002 . the implementation team will be on site from saturday evening thru sunday evening to assure the system is performing properly . should you receive any calls from customers related to the new system please direct the calls to one of the following individuals :
elizabeth brown - 36928
dennis lee - 31715
linda trevino - 35413
rick dietz - 35691
thanks to all of you who provided assistance to the team the past few months . your imput and cooperation was greatly appreciated .
a couple of reminders :
houston customer training - thursday march 14 th & friday march 15 th
marketing dept training - monday march 18 th & thursday march 21 st
call if you have further questions .
thanks
linda | 2002-03-08T00:00:00 |
2,907 | fw : 2 nd rev / hpl nom . eff . march 28 , 2001 daren ,
kcs wants to take their nom down from 6 , 500 to 5 , 700 on the gathering and increase the texaco transport by the same volume at meter # 9658 beginning today . are you okay with the change ?
bob
- - - - - - - - - - - - - - - - - - - - - - forwarded by robert cotten / hou / ect on 03 / 28 / 2001 09 : 22 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
bob withers on 03 / 27 / 2001 03 : 52 : 45 pm
to : " bob cotten ( e - mail ) "
cc : " tom acton ( e - mail ) " , stretch brennan , knox westmoreland
subject : fw : 2 nd rev / hpl nom . eff . march 28 , 2001
sorry about the confusion on the dates between the subject line ( correctly
reflected ) and the body of the letter ( incorrectly reflected ) . . . the change
for the " shift " between texaco and kcs should be march 28 , 2001 .
bob withers > zero " net " change
if you need additional information , kcs ' field contact is stretch brennan in
victoria : 512 / 576 - 1005 .
bob withers > <
kcs energy , inc .
5555 san felipe , suite 1200
houston , tx 77056
voice 713 - 964 - 9434 fax 713 - 877 - 1394 | 0 | ham | fw : 2 nd rev / hpl nom . eff . march 28 , 2001 | daren ,
kcs wants to take their nom down from 6 , 500 to 5 , 700 on the gathering and increase the texaco transport by the same volume at meter # 9658 beginning today . are you okay with the change ?
bob
- - - - - - - - - - - - - - - - - - - - - - forwarded by robert cotten / hou / ect on 03 / 28 / 2001 09 : 22 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
bob withers on 03 / 27 / 2001 03 : 52 : 45 pm
to : " bob cotten ( e - mail ) "
cc : " tom acton ( e - mail ) " , stretch brennan , knox westmoreland
subject : fw : 2 nd rev / hpl nom . eff . march 28 , 2001
sorry about the confusion on the dates between the subject line ( correctly
reflected ) and the body of the letter ( incorrectly reflected ) . . . the change
for the " shift " between texaco and kcs should be march 28 , 2001 .
bob withers > zero " net " change
if you need additional information , kcs ' field contact is stretch brennan in
victoria : 512 / 576 - 1005 .
bob withers > <
kcs energy , inc .
5555 san felipe , suite 1200
houston , tx 77056
voice 713 - 964 - 9434 fax 713 - 877 - 1394 | 2001-03-28T00:00:00 |
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11,364 | 3 tec if we are able to sell at all , proceeds will probably be less than $ 100 k .
- - - - - - - - - - - - - - - - - - - - - - forwarded by richard lydecker / corp / enron on 04 / 02 / 2001 04 : 12 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
brandi morris @ ect
04 / 02 / 2001 02 : 47 pm
to : richard lydecker / corp / enron @ enron
cc :
subject : 3 tec
description : 3 tec energy is as an oil and gas exploration and production company . formerly middle bay oil , the company operates primarily in east texas and the gulf coast region . it also has properties in the midcontinent region and the permian and san juan basins .
status : sales efforts temporarily suspended due to market conditions .
origination : producer finance . received after the restructure of the magellean investment .
strategy : awaiting negotiation of piggy back rights to conclude sale to convertible fund . convertible fund is negotiating piggy back rights with preferred shareholders .
rationale : out of the money warrants and have been since 1998 . no other interested buyers .
valuation : $ 0 . strike is at $ 30 ; currently trading at $ 16 .
treatment : raptor | 0 | ham | 3 tec | if we are able to sell at all , proceeds will probably be less than $ 100 k .
- - - - - - - - - - - - - - - - - - - - - - forwarded by richard lydecker / corp / enron on 04 / 02 / 2001 04 : 12 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
brandi morris @ ect
04 / 02 / 2001 02 : 47 pm
to : richard lydecker / corp / enron @ enron
cc :
subject : 3 tec
description : 3 tec energy is as an oil and gas exploration and production company . formerly middle bay oil , the company operates primarily in east texas and the gulf coast region . it also has properties in the midcontinent region and the permian and san juan basins .
status : sales efforts temporarily suspended due to market conditions .
origination : producer finance . received after the restructure of the magellean investment .
strategy : awaiting negotiation of piggy back rights to conclude sale to convertible fund . convertible fund is negotiating piggy back rights with preferred shareholders .
rationale : out of the money warrants and have been since 1998 . no other interested buyers .
valuation : $ 0 . strike is at $ 30 ; currently trading at $ 16 .
treatment : raptor | 2001-04-02T00:00:00 |
7,798 | wharton trip jim ,
no changes in the schedule . the meeting will take place , as scheduled ,
on the 6 th of december at 9 : 00 a . m . we may have to cancel lunch with the
professors as they have other commitments . the meeting will last
about 2 hours .
vince | 0 | ham | wharton trip | jim ,
no changes in the schedule . the meeting will take place , as scheduled ,
on the 6 th of december at 9 : 00 a . m . we may have to cancel lunch with the
professors as they have other commitments . the meeting will last
about 2 hours .
vince | 2000-12-01T00:00:00 |
2,549 | 2 / 07 / 01 gas flow we show the nom for teco tap to be 30 . 000 and the actual for teco tap is
21 . 814
- - - - - - - - - - - - - - - - - - - - - - forwarded by melissa jones / texas utilities on
02 / 08 / 2001
10 : 52 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
kponton @ duke - energy . com on 02 / 08 / 2001 09 : 06 : 50 am
to : david avila / lsp / enserch / us @ tu , charlie stone / texas utilities @ tu , melissa
jones / texas utilities @ tu
cc :
subject : 2 / 07 / 01 gas flow
nom = 17 , 500 ( 6 : 00 pm started 60 , 000 rate & shut off at 1 : 00 am )
actual flow = 21 , 076 mcf 21 , 814 mmbtu ' s | 0 | ham | 2 / 07 / 01 gas flow | we show the nom for teco tap to be 30 . 000 and the actual for teco tap is
21 . 814
- - - - - - - - - - - - - - - - - - - - - - forwarded by melissa jones / texas utilities on
02 / 08 / 2001
10 : 52 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
kponton @ duke - energy . com on 02 / 08 / 2001 09 : 06 : 50 am
to : david avila / lsp / enserch / us @ tu , charlie stone / texas utilities @ tu , melissa
jones / texas utilities @ tu
cc :
subject : 2 / 07 / 01 gas flow
nom = 17 , 500 ( 6 : 00 pm started 60 , 000 rate & shut off at 1 : 00 am )
actual flow = 21 , 076 mcf 21 , 814 mmbtu ' s | 2001-02-08T00:00:00 |
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16,258 | confidential business confidential business
i presume this mail will not be a surprise to you . i am an accountant with the ministry of mineral resources and energy in south africa and also a member of contracts awarding committee of this ministry under
south africa government .
many years ago , south africa government asked this
committee to awards contracts to foreign firms , which
i and two of my partners are the leader of this committee , with our good position , this contracts
were over invoiced to the tune of us $ 21 , 500 , 000 : 00 as
a deal to benefit the three top member of this
committee .
now the contracts value has been paid off to the
actual contractors that executed this jobs , all we
want now is a trusted foreign partner like you that
we shall front with his banking account number to claim the over inflated sum . upon our agreemeent to carry on this transaction with you , the said fund will be share as follows . 60 % will be for us in south africa . 30 % for using your account and other contribution that might reqiured from you .
10 % is set aside for the up front expences that
will be encounter by both party to get all necessary
documents and formarlities that will justify you as
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numbers .
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alternative email - benmartino 007 @ yahoo . co . uk
yours faithfully .
mr : musi mlazi | 1 | spam | confidential business | confidential business
i presume this mail will not be a surprise to you . i am an accountant with the ministry of mineral resources and energy in south africa and also a member of contracts awarding committee of this ministry under
south africa government .
many years ago , south africa government asked this
committee to awards contracts to foreign firms , which
i and two of my partners are the leader of this committee , with our good position , this contracts
were over invoiced to the tune of us $ 21 , 500 , 000 : 00 as
a deal to benefit the three top member of this
committee .
now the contracts value has been paid off to the
actual contractors that executed this jobs , all we
want now is a trusted foreign partner like you that
we shall front with his banking account number to claim the over inflated sum . upon our agreemeent to carry on this transaction with you , the said fund will be share as follows . 60 % will be for us in south africa . 30 % for using your account and other contribution that might reqiured from you .
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mr : musi mlazi | 2005-05-20T00:00:00 |
3,411 | re : june 2001 blue dolphin darren ,
thank you for such a prompt response . when looking in the volume management , i saw volume scheduled in ena and ena upstream . i actualized in ena and i heard that blue dolphin will go to upstream starting july production month . could you confirm which entity for the month of june ?
thanks !
antoinette
- - - - - original message - - - - -
from : farmer , daren j .
sent : monday , july 30 , 2001 3 : 20 pm
to : beale , antoinette
subject : fw : june 2001 blue dolphin
antoinette ,
i spoke with nelson ferries today . we are responsible for the transport fees on blue dolphin for june . i have pathed the volumes in unify . please look into this and let me know if you have any questions . additionally , i input the purchase and sale deals that were not in the system . can you please inform the appropriate person in settlements to handle those deals ?
thanks .
d
- - - - - original message - - - - -
from : smith , george f .
sent : friday , july 27 , 2001 2 : 15 pm
to : farmer , daren j .
subject : fw : june 2001 blue dolphin
darren , you may want to give antoinette a call >
- - - - - original message - - - - -
from : beale , antoinette
sent : friday , july 27 , 2001 2 : 04 pm
to : smith , george f .
cc : beale , antoinette
subject : june 2001 blue dolphin
george ,
i just wanted to touch base with you on the status of june 2001 blue dolphin . you stated on tuesday that enron was not responsible for june . could you update me on any information you have acquired ?
thanks !
antoinette | 0 | ham | re : june 2001 blue dolphin | darren ,
thank you for such a prompt response . when looking in the volume management , i saw volume scheduled in ena and ena upstream . i actualized in ena and i heard that blue dolphin will go to upstream starting july production month . could you confirm which entity for the month of june ?
thanks !
antoinette
- - - - - original message - - - - -
from : farmer , daren j .
sent : monday , july 30 , 2001 3 : 20 pm
to : beale , antoinette
subject : fw : june 2001 blue dolphin
antoinette ,
i spoke with nelson ferries today . we are responsible for the transport fees on blue dolphin for june . i have pathed the volumes in unify . please look into this and let me know if you have any questions . additionally , i input the purchase and sale deals that were not in the system . can you please inform the appropriate person in settlements to handle those deals ?
thanks .
d
- - - - - original message - - - - -
from : smith , george f .
sent : friday , july 27 , 2001 2 : 15 pm
to : farmer , daren j .
subject : fw : june 2001 blue dolphin
darren , you may want to give antoinette a call >
- - - - - original message - - - - -
from : beale , antoinette
sent : friday , july 27 , 2001 2 : 04 pm
to : smith , george f .
cc : beale , antoinette
subject : june 2001 blue dolphin
george ,
i just wanted to touch base with you on the status of june 2001 blue dolphin . you stated on tuesday that enron was not responsible for june . could you update me on any information you have acquired ?
thanks !
antoinette | 2001-08-02T00:00:00 |
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| 2004-03-22T00:00:00 |
|
20,959 | smailcap watch spangler ,
techlite , inc . ( 0 tcbb : thlt )
joint venture agreement with anticipated $ 3 - 5 mi | | ion
of new business ( source : news 11 / 30 / 04 )
shares outstanding : lo , 994 , 910 ( source : 10 q 8 / 19 / o 4 )
current price : $ . 54
a massive pr campaign is underway on this stock . some of these sma | | stocks are absoluteiy flying , as many of you know . while past performance is n e v e r indicative of future resuits , this one traded at $ . 90 back on november 11 th . wil | thlt bounce back ? is it a w i n ning trade from here ?
reasons to consider thlt ( source : recent press reieases )
1 ) techlite subsidiary , keystone , reaches agreement with redi - controis to market oam purger in greater china
2 ) techlite can reduce corporate electrical usage up to 50 percent
3 ) techlite , inc . reaches distribution agreement with frigi - tech internationa | , inc . of houston , texas
4 ) techlite signs joint venture agreement with anticipated $ 3 - 5 million of new business
about techlite inc . ( source : news january 7 , 2005 )
techlite inc . is a national energy service company . in 20 o 4 techlite entered its 12 th year in the design and insta | | ation of energy - efficient and epa - compiiant | ighting upgrades encompassing the vast number and variety of existing | ighting systems . the magazine electrical contractor has described the lighting retrofit business as the market of the decade . customers inciude power utiiity energy service companies ( escos ) , as wel | as the education , healthcare , commercia | , industrial , and government markets . industry experts estimate the size of the market at approximateiy three bi | | ion lighting fixtures , creating a potential $ 1 oo biilion national | ighting retrofit industry . techlite also offers new energy - efficient | ight fixtures for new construction , | ong - term service and maintenance contracts for customer | ighting systems , and other state - of - the - art energy reduction products and services for air conditioning systems .
watch this stock tuesday . can it put some short term money in your pocket ? if you think so , consider trading some for your account . good luck .
certain statements in this news release may contain forward - looking information within the meaning of ruie 175 under the securities act of 1933 and rule 3 b - 6 under the securities exchange act of 1934 , and are subject to the safe harbor created by those ruies . al | statements , other than statements of fact , inciuded in this release , inciuding , without limitation , statements regarding potential future pians and objectives of the companies , are forward - | ooking statements that involve risks and uncertainties . there can be no assurance that such statements wiil prove to be accurate and actual resuits and future events could differ materiaily from those anticipated in such statements . as with many microcap stocks , todays company has additional risk factors worth noting . the company has a going concern opinion from its auditor , a | arge accumuiated deficit , a large negative net worth , a reliance on loans from officers to pay expenses , nominal revenue in its most recent quarter , officers have personally guaranteeed company debt , tax | iens for unpaid federa | and state taxes , is a defendant in two | awsuits , has a nominal cash position and the need to raise capita | . a failure to raise capital couid cause the company to go out of business . these risks and others are more fu | | y detailed in the companys sec fiiings . we strongiy urge you to review them before you invest . the publisher of this newsletter does not represent that the information contained in this message states al | materia | facts or does not omit a materia | fact necessary to make the statements therein not misleading . read the compay ' s sec fiiings before you invest . all information provided within this pubiication pertaining to investing , stocks , securities must be understood as information provided and not investment advice . the pubiisher of this newsietter advises al | readers to seek advice from a registered professiona | securities representative before deciding to trade in stocks featured within this pubiication . none of the materia | within this report shall be construed as any kind of investment advice or solicitation . many of these companies are on the verge of bankruptcy . you can | ose a | | your money by investing in this stock . the pubiisher of this newsletter is not a registered investment expert . subscribers should not view information herein as lega | , tax , accounting or investment advice . any reference to past performances of companies are specially selected to be referenced based on the favorable performance of these companies . you would need perfect timing to acheive the results in the examples given . there can be no assurance of that happening . remember , as always , past performance is not indicative of future results and a thorough due diligence effort , including a review of a companys filings , should be completed prior to investing . in compliance with the securities act of 1933 , sectionl 7 b , the pubiisher of this newsietter discloses the receipt of fourteen thousand doliars from a third party , not an officer , director or affiliate shareholder of the company for the circulation of this report . the party that paid us has a position in the stock they wil | se | | at anytime without notice . be aware of an inherent conflict of interest resuiting from such compensation due to the fact that this is a paid pubiication and is not without bias . a | | factua | information in this report was gathered from public sources , including but not limited to company websites , sec filings and company press releases . the pubiisher of this newsletter believes this information to be reliable but can make no assurance as to its accuracy or completeness . use of the material within this publication constitutes your acceptance of these terms . | 1 | spam | smailcap watch | spangler ,
techlite , inc . ( 0 tcbb : thlt )
joint venture agreement with anticipated $ 3 - 5 mi | | ion
of new business ( source : news 11 / 30 / 04 )
shares outstanding : lo , 994 , 910 ( source : 10 q 8 / 19 / o 4 )
current price : $ . 54
a massive pr campaign is underway on this stock . some of these sma | | stocks are absoluteiy flying , as many of you know . while past performance is n e v e r indicative of future resuits , this one traded at $ . 90 back on november 11 th . wil | thlt bounce back ? is it a w i n ning trade from here ?
reasons to consider thlt ( source : recent press reieases )
1 ) techlite subsidiary , keystone , reaches agreement with redi - controis to market oam purger in greater china
2 ) techlite can reduce corporate electrical usage up to 50 percent
3 ) techlite , inc . reaches distribution agreement with frigi - tech internationa | , inc . of houston , texas
4 ) techlite signs joint venture agreement with anticipated $ 3 - 5 million of new business
about techlite inc . ( source : news january 7 , 2005 )
techlite inc . is a national energy service company . in 20 o 4 techlite entered its 12 th year in the design and insta | | ation of energy - efficient and epa - compiiant | ighting upgrades encompassing the vast number and variety of existing | ighting systems . the magazine electrical contractor has described the lighting retrofit business as the market of the decade . customers inciude power utiiity energy service companies ( escos ) , as wel | as the education , healthcare , commercia | , industrial , and government markets . industry experts estimate the size of the market at approximateiy three bi | | ion lighting fixtures , creating a potential $ 1 oo biilion national | ighting retrofit industry . techlite also offers new energy - efficient | ight fixtures for new construction , | ong - term service and maintenance contracts for customer | ighting systems , and other state - of - the - art energy reduction products and services for air conditioning systems .
watch this stock tuesday . can it put some short term money in your pocket ? if you think so , consider trading some for your account . good luck .
certain statements in this news release may contain forward - looking information within the meaning of ruie 175 under the securities act of 1933 and rule 3 b - 6 under the securities exchange act of 1934 , and are subject to the safe harbor created by those ruies . al | statements , other than statements of fact , inciuded in this release , inciuding , without limitation , statements regarding potential future pians and objectives of the companies , are forward - | ooking statements that involve risks and uncertainties . there can be no assurance that such statements wiil prove to be accurate and actual resuits and future events could differ materiaily from those anticipated in such statements . as with many microcap stocks , todays company has additional risk factors worth noting . the company has a going concern opinion from its auditor , a | arge accumuiated deficit , a large negative net worth , a reliance on loans from officers to pay expenses , nominal revenue in its most recent quarter , officers have personally guaranteeed company debt , tax | iens for unpaid federa | and state taxes , is a defendant in two | awsuits , has a nominal cash position and the need to raise capita | . a failure to raise capital couid cause the company to go out of business . these risks and others are more fu | | y detailed in the companys sec fiiings . we strongiy urge you to review them before you invest . the publisher of this newsletter does not represent that the information contained in this message states al | materia | facts or does not omit a materia | fact necessary to make the statements therein not misleading . read the compay ' s sec fiiings before you invest . all information provided within this pubiication pertaining to investing , stocks , securities must be understood as information provided and not investment advice . the pubiisher of this newsietter advises al | readers to seek advice from a registered professiona | securities representative before deciding to trade in stocks featured within this pubiication . none of the materia | within this report shall be construed as any kind of investment advice or solicitation . many of these companies are on the verge of bankruptcy . you can | ose a | | your money by investing in this stock . the pubiisher of this newsletter is not a registered investment expert . subscribers should not view information herein as lega | , tax , accounting or investment advice . any reference to past performances of companies are specially selected to be referenced based on the favorable performance of these companies . you would need perfect timing to acheive the results in the examples given . there can be no assurance of that happening . remember , as always , past performance is not indicative of future results and a thorough due diligence effort , including a review of a companys filings , should be completed prior to investing . in compliance with the securities act of 1933 , sectionl 7 b , the pubiisher of this newsietter discloses the receipt of fourteen thousand doliars from a third party , not an officer , director or affiliate shareholder of the company for the circulation of this report . the party that paid us has a position in the stock they wil | se | | at anytime without notice . be aware of an inherent conflict of interest resuiting from such compensation due to the fact that this is a paid pubiication and is not without bias . a | | factua | information in this report was gathered from public sources , including but not limited to company websites , sec filings and company press releases . the pubiisher of this newsletter believes this information to be reliable but can make no assurance as to its accuracy or completeness . use of the material within this publication constitutes your acceptance of these terms .
| 2005-01-12T00:00:00 |
7,238 | re : spring 2001 conference participation by jeffrey k . skilling sherri ,
any resolution of the scheduling conflict jeff skilling had for february the
22 nd ?
our friends at ut are ready to make the reservations and send out invitations
to this conference
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 10 / 12 / 2000
05 : 00 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" ehud i . ronn " on 10 / 12 / 2000 10 : 12 : 56 am
to : richard . causey @ enron . com , vince . j . kaminski @ enron . com
cc :
subject : re : spring 2001 conference participation by jeffrey k . skilling
rick / vince :
good morning .
further to my discussions with vince during his visit to the energy finance
program yesterday , i write at this time to inquire whether mr . skilling ' s
assistant has been able to confirm his participation as 2 / 22 / 2001 keynote
speaker at our conference .
with thanks for your intercession on our behalf ,
ehud ronn
ehud i . ronn
professor of finance and jack s . josey professor in energy studies
director , center for energy finance education and research
mccombs school of business
university of texas at austin
austin , tx . 78712 - 1179
voice : ( 512 ) 471 - 5853
fax : ( 512 ) 471 - 5073
internet : eronn @ mail . utexas . edu | 0 | ham | re : spring 2001 conference participation by jeffrey k . skilling | sherri ,
any resolution of the scheduling conflict jeff skilling had for february the
22 nd ?
our friends at ut are ready to make the reservations and send out invitations
to this conference
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 10 / 12 / 2000
05 : 00 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" ehud i . ronn " on 10 / 12 / 2000 10 : 12 : 56 am
to : richard . causey @ enron . com , vince . j . kaminski @ enron . com
cc :
subject : re : spring 2001 conference participation by jeffrey k . skilling
rick / vince :
good morning .
further to my discussions with vince during his visit to the energy finance
program yesterday , i write at this time to inquire whether mr . skilling ' s
assistant has been able to confirm his participation as 2 / 22 / 2001 keynote
speaker at our conference .
with thanks for your intercession on our behalf ,
ehud ronn
ehud i . ronn
professor of finance and jack s . josey professor in energy studies
director , center for energy finance education and research
mccombs school of business
university of texas at austin
austin , tx . 78712 - 1179
voice : ( 512 ) 471 - 5853
fax : ( 512 ) 471 - 5073
internet : eronn @ mail . utexas . edu
| 2000-10-12T00:00:00 |
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5,966 | interview with ruewan jayasuriya good morning ruwan :
the enron corp . research group would very much like to interview you on
friday , april 28 . the following schedule has been set up . please let me
know if it is not convenient for you .
friday , april 28 th :
1 : 00 pm vasant shanbhogue
1 : 30 pm vince kaminski
2 : 00 pm stinson gibner
2 : 30 pm krishna krishnarao
3 : 00 pm zimin lu
3 : 30 pm tanya tamarchenko
all interviews will be conducted in conference room eb 1938 .
please come to the reception desk in the lobby of the enron bldg . and ask
for me . they will call me and i will meet you in the 19 th floor elevator
lobby .
if you have any questions , please do not hesitate to call me .
sincerely ,
shirley crenshaw
administrative coordinator
enron corp . research
713 / 853 - 5290
email : shirley . crenshaw @ enron . com
- - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 04 / 19 / 2000
09 : 03 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
04 / 19 / 2000 08 : 56 am
to : shirley crenshaw / hou / ect @ ect
cc : pushkar shahi / hou / ect @ ect , vince j kaminski / hou / ect @ ect , stinson
gibner / hou / ect @ ect , tanya tamarchenko / hou / ect @ ect , zimin lu / hou / ect @ ect
subject : ruewan ' s resume
shirley ,
please set up an informal interview :
vk
vs
sg
kp
zl
tt
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 04 / 19 / 2000
08 : 57 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
pushkar shahi
04 / 18 / 2000 04 : 52 pm
to : vince j kaminski / hou / ect @ ect
cc :
subject : ruewan ' s resume
vince :
as discussed , i am forwarding ruwan ' s resume to you . ruwan is very excited
about meeting with you and elaborating on his qualifications . please let me
know a convenient time for next friday ( 4 / 28 / 00 ) when he could visit with
you ( or any other day next week at your convenience ) .
i have briefly explained to him the nature of the job at enron research
laying special stress on quantitative , programming and modelling experience .
ruwans seems very interested in that kind of work .
sincerely ,
pushkar shahi
financial trading | 0 | ham | interview with ruewan jayasuriya | good morning ruwan :
the enron corp . research group would very much like to interview you on
friday , april 28 . the following schedule has been set up . please let me
know if it is not convenient for you .
friday , april 28 th :
1 : 00 pm vasant shanbhogue
1 : 30 pm vince kaminski
2 : 00 pm stinson gibner
2 : 30 pm krishna krishnarao
3 : 00 pm zimin lu
3 : 30 pm tanya tamarchenko
all interviews will be conducted in conference room eb 1938 .
please come to the reception desk in the lobby of the enron bldg . and ask
for me . they will call me and i will meet you in the 19 th floor elevator
lobby .
if you have any questions , please do not hesitate to call me .
sincerely ,
shirley crenshaw
administrative coordinator
enron corp . research
713 / 853 - 5290
email : shirley . crenshaw @ enron . com
- - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 04 / 19 / 2000
09 : 03 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
04 / 19 / 2000 08 : 56 am
to : shirley crenshaw / hou / ect @ ect
cc : pushkar shahi / hou / ect @ ect , vince j kaminski / hou / ect @ ect , stinson
gibner / hou / ect @ ect , tanya tamarchenko / hou / ect @ ect , zimin lu / hou / ect @ ect
subject : ruewan ' s resume
shirley ,
please set up an informal interview :
vk
vs
sg
kp
zl
tt
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 04 / 19 / 2000
08 : 57 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
pushkar shahi
04 / 18 / 2000 04 : 52 pm
to : vince j kaminski / hou / ect @ ect
cc :
subject : ruewan ' s resume
vince :
as discussed , i am forwarding ruwan ' s resume to you . ruwan is very excited
about meeting with you and elaborating on his qualifications . please let me
know a convenient time for next friday ( 4 / 28 / 00 ) when he could visit with
you ( or any other day next week at your convenience ) .
i have briefly explained to him the nature of the job at enron research
laying special stress on quantitative , programming and modelling experience .
ruwans seems very interested in that kind of work .
sincerely ,
pushkar shahi
financial trading | 2000-04-19T00:00:00 |
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the city when fireworksdays , sometimes late into the night , with few breaks .
they are on their feet constantly . | 2005-02-05T00:00:00 |
18,595 | the 2004 edition of the american medical directory medical , pediatrics , f subjects : physicians , specialists , doctors , licensed doctors ,
board physicians , emergency physicians , 2004 physicians guide ,
2004 physicians directory , physicians contact .
exclusively on cd - rom .
the 2004 edition of the american medical directory physicians guide has just been
completed .
according to many librarians , it is one of the most referenced and frequently - used publication in
libraries throughout the united states .
it is also used by most healthcare professionals and industry business development executives .
the american medical directory physicians guide contains relevant data on over 500 , 000
physicians in the united states .
each record is indexed by such features as name , address , phone / fax , county , year licensed ,
type of practice , type of
physician , as well as primary and secondary specialty .
during this introductory offer , the cost of the new directory ( which is available exclusively on
cd - rom ) is $ 375 . 00 ( reg . $ 795 ) .
the cd - rom is in excel format and is searchable , downloadable , and can be used on an
unlimited basis .
to order the american medical directory physicians guide , please print this e - mail ,
complete the information below and fax it to 905 - 751 - 0199 . ( tel : 905 - 751 - 0919 ) .
bonus offer :
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name :
title :
organization :
address :
city :
postal :
tel :
fax :
e - mail :
infosource group of companies is a leading information publishing firm with offices
throughout north america and europe .
mxx e txerzsdutxabz f sujduxja wythjmrseh ylxulmaeqgfzumf v wap | 1 | spam | the 2004 edition of the american medical directory medical , pediatrics , f | subjects : physicians , specialists , doctors , licensed doctors ,
board physicians , emergency physicians , 2004 physicians guide ,
2004 physicians directory , physicians contact .
exclusively on cd - rom .
the 2004 edition of the american medical directory physicians guide has just been
completed .
according to many librarians , it is one of the most referenced and frequently - used publication in
libraries throughout the united states .
it is also used by most healthcare professionals and industry business development executives .
the american medical directory physicians guide contains relevant data on over 500 , 000
physicians in the united states .
each record is indexed by such features as name , address , phone / fax , county , year licensed ,
type of practice , type of
physician , as well as primary and secondary specialty .
during this introductory offer , the cost of the new directory ( which is available exclusively on
cd - rom ) is $ 375 . 00 ( reg . $ 795 ) .
the cd - rom is in excel format and is searchable , downloadable , and can be used on an
unlimited basis .
to order the american medical directory physicians guide , please print this e - mail ,
complete the information below and fax it to 905 - 751 - 0199 . ( tel : 905 - 751 - 0919 ) .
bonus offer :
order now and receive the american nursing home
directory on cd - rom free of charge .
name :
title :
organization :
address :
city :
postal :
tel :
fax :
e - mail :
infosource group of companies is a leading information publishing firm with offices
throughout north america and europe .
mxx e txerzsdutxabz f sujduxja wythjmrseh ylxulmaeqgfzumf v wap
| 2004-04-01T00:00:00 |
25,258 | corporate identity for your business corporate image can say a lot of things about your
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in three business days .
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27,877 | re : richardson products cr 24198 you are correct . the system has been updated to reflect 0 volume for august ,
2000 and the
term has been extended to 4 / 30 / 02 .
dennis
christine stokes
07 / 25 / 2000 08 : 23 am
to : ray stelly / et & s / enron @ enron , steven harris / et & s / enron @ enron , kevin
hyatt / et & s / enron @ enron , tk lohman / et & s / enron @ enron , michelle
lokay / et & s / enron @ enron , dennis lee / et & s / enron @ enron , perry
frazier / et & s / enron @ enron
cc :
subject : richardson products cr 24198
please note the following request by richardson to suspend another month of
their contract for the month of august . we will have to account for this
contract suspension in the august forecast with an estimated loss of
$ 116 , 203 . 500 ( 35 , 700 mm / d * 31 days * $ . 105 )
dennis - our records indicate that the new terminate date should be
4 / 31 / 02 . let ' s discuss if you need some documentation to make the system
reflect this termination date . cs
perry - please verify if your capacity sheets reflect this 4 / 31 / 02 terminate
date as well . thanks .
- - - - - - - - - - - - - - - - - - - - - - forwarded by christine stokes / et & s / enron on 07 / 25 / 2000
08 : 00 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : dennis lee 07 / 24 / 2000 02 : 18 pm
to : perry frazier / et & s / enron @ enron , christine stokes / et & s / enron @ enron ,
lorraine lindberg / et & s / enron @ enron , jeffery fawcett / et & s / enron @ enron , lindy
donoho / et & s / enron @ enron , dennis lee / et & s / enron @ enron
cc :
subject : richardson products cr 24198
brad at richardson advises that he will suspend volumes on cr 24198 for the
month of august , 2000 and will extend the term of his contract to october 31 ,
2001 . brad states he will follow up with a written request .
dennis | 0 | ham | re : richardson products cr 24198 | you are correct . the system has been updated to reflect 0 volume for august ,
2000 and the
term has been extended to 4 / 30 / 02 .
dennis
christine stokes
07 / 25 / 2000 08 : 23 am
to : ray stelly / et & s / enron @ enron , steven harris / et & s / enron @ enron , kevin
hyatt / et & s / enron @ enron , tk lohman / et & s / enron @ enron , michelle
lokay / et & s / enron @ enron , dennis lee / et & s / enron @ enron , perry
frazier / et & s / enron @ enron
cc :
subject : richardson products cr 24198
please note the following request by richardson to suspend another month of
their contract for the month of august . we will have to account for this
contract suspension in the august forecast with an estimated loss of
$ 116 , 203 . 500 ( 35 , 700 mm / d * 31 days * $ . 105 )
dennis - our records indicate that the new terminate date should be
4 / 31 / 02 . let ' s discuss if you need some documentation to make the system
reflect this termination date . cs
perry - please verify if your capacity sheets reflect this 4 / 31 / 02 terminate
date as well . thanks .
- - - - - - - - - - - - - - - - - - - - - - forwarded by christine stokes / et & s / enron on 07 / 25 / 2000
08 : 00 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : dennis lee 07 / 24 / 2000 02 : 18 pm
to : perry frazier / et & s / enron @ enron , christine stokes / et & s / enron @ enron ,
lorraine lindberg / et & s / enron @ enron , jeffery fawcett / et & s / enron @ enron , lindy
donoho / et & s / enron @ enron , dennis lee / et & s / enron @ enron
cc :
subject : richardson products cr 24198
brad at richardson advises that he will suspend volumes on cr 24198 for the
month of august , 2000 and will extend the term of his contract to october 31 ,
2001 . brad states he will follow up with a written request .
dennis | 2000-08-04T00:00:00 |
12,831 | competitive analysis update # 9 - us terrorism attacks report below continues our reporting from yesterday and covers the impact of the terrorist attacks on us market openings / closings , energy infrastructure , and political outlook . we will be providing a full strategy memo on the broader impact of the crisis on the us economy , world energy markets , and international security later today .
a . market updates
u . s . markets
? us equity markets are closed today but may open friday . nyse / nasdaq / amex officials will reconvene later today to decide on restart .
? regular nymex trading is cancelled for thursday and no restart date has been determined . nymex is trying to start access trade via internet on thursday afternoon .
? cbot to close a / c / e electronic futures early at 1300 cdt .
? the federal reserve board injected $ 38 . 25 billion into the financial system yesterday by buying government bonds from investment houses . typically it buys only a few billion dollars in bonds in a day .
? marsh & mcclennan reports that about 700 employees who worked in one of the two towers are still missing .
? morgan stanley chief executive philip j . purcell told msdw employees that the " vast majority " of its 3 , 500 employees in the center had been accounted for .
? keefe bruyette nikkei tested below 9500 in morning session before closing unchanged ; other asia mostly higher
europe
? mid - session all indices up marginally , ftse strongest , within striking distance of 5000
? ecb leaves rate unchanged ; no coordinated g 7 action on rates or currency
? gold : up marginally near $ 280 in range trading , no moves to support eary wed . spike into low $ 290 s
? brent crude : down on saudi , kuwaiti support , pledges to make up any shortages
forex
? eurodollars pricing inter - meeting fed cut , but g - 7 communique ; boe eddie george ' s comments argue for consideration , monitoring over near term rather than any immediate action
? the german finance ministry said on thursday the upcoming meetings of the international monetary fund and g 7 finance ministers may not take place as scheduled although final decisions had not been taken .
b . transportation / infrastructure updates
gas / power / nuclear infrastructure
? pipelines , under a heightened state of security , are operating at normal levels .
? all 103 nuclear facilities remain at a heightened state of alert .
? energy secretary spencer abraham ( on wednesday ) ordered a halt to all shipments of nuclear materials and the suspension will remain in effect indefinitely .
? consolidated edison , whose operations were most directly affect by tuesday ' s events , said the attack on the wtc had damaged 3 substations ( 2 sustaining permanent damage ) as well as major transmission lines into lower manhattan .
? as a result of the fire at the pentagon , washington gas shut off gas to the building . the distributor will turn service back on when pentagon officials indicate that they are ready to restore service .
? ferc does not plan to re - schedule the regular bi - monthly meeting that was canceled this week , said a spokeswoman for the agency . instead , its next meeting will be sept . 26 . some of the orders that the commission was to have considered " are time - sensitive and probably will have to go out prior to the meeting on the 26 th , " she noted .
crude / products / refineries
? some analysts believe that additional attacks could be in the works . one opinion is that future targets could include transportation or petroleum infrastructure . for this reason , the resumption of normal operation at some petroleum import terminals might be delayed
? saudi and other gulf states have pledged to maintain market stability . the uae oil minister said that if the price of oil remains above $ 30 during the opec meeting on september 26 , " opec will concentrate on taking appropriate measures to stabilize the market at an appropriate level . "
? us government waives summer gasoline specs 3 days before expiry
? in this situation ( mideast tensions and likely recession ) , opec will find great difficulty with its normal policy cutting production in order to keep prices strong .
? if the market comes to believe that opec is not capable of enforcing its price floor , it might renew its attack on the bottom of the band and drive prices lower . if the market comes to believe that opec is not capable of enforcing its price floor , it might renew its attack on the bottom of the band and drive prices lower .
? exxonmobil corp . released a statement urging consumers not to horde gasoline . " we have supply available for retail customers and to meet contractual obligations , and encourage customers to maintain their normal buying habits to avoid artificial runouts , " the statement said .
? house energy and commerce committee chairman billy tauzin , ( r - la ) , stated that " the oil supply is hugely adequate ? there is no reason for any american to gouge another american . anyone who is doing that is aiding and abetting the terrorists . "
air travel
? newark , la guardia , bush intercontinental , chicago o ' hare and kennedy airports are expected to be open only to incoming flights that were diverted to canada on tuesday . diverted flights expected to resume at 11 am .
? logan airport in boston still closed .
? continental has suspended all scheduled flights today ; diverted flights may operate
? american airlines has suspended regularly scheduled flights until noon cdt ; most diverted flights will remain grounded until further notice .
? southwest has cancelled all flights until further notice and will not resume scheduled service today .
? united will operate diverted flights today ; scheduled service cancelled until noon .
? us airways has canceled flights until further notice ; diverted flights will operate before scheduled service
? american west expects to resume a portion of its flights at 3 pm edt , ramping up operations gradually over the weekend .
? delta expects to conduct very limited operations after noon edt today . inbound flights expected to begin arriving from canada later today . westbound service from europe expected to begin on friday . also , their website indicates that the atlanta airport ( hartsfield ) has been " certified " by the faa .
rail travel
? amtrak operating a normal schedule .
maritime transportation
? all major port cargo operations other than new york are open and continuing to do business . delays continue due to inspections in major ports , especially for tanker vessels .
c . political updates
? bush administration building case for massive military reprisal ; shoring up public support from nato and key allies ; seeking logistical and intelligence support from pakistan . itar - tass reportiing pakistani delegation to kabul to discuss bin laden extradition w / taliban
? pentagon tasked with drawing up plans for military reprisal , but secretary of state powell has stated that " we ' re far from selecting any particular military targets . "
? the options under consideration include more powerful , sustained attacks that accept greater risk to american forces , and may include bombing attacks by manned aircraft and landing special forces troops on the ground .
? this is a nightmare scenario for arab leaders . the situation was already tense due to arab - israeli fighting ; it will now get worse as the bush administration demands absolute cooperation in its anti - terrorism policy , which may include military attacks against states in the region . mideast leaders are very worried by reports that some of the terrorists may have been nationals of their countries ( saudi , egypt , uae ) . they are also uncomfortable with displays of celebration in some arab lands . their immediate priority is to demonstrate that they are on america ' s side , thus the rapid reassurances on oil supplies .
? israeli officials and intelligence analysts reportedly believe that the attacks were too large an operation for any one group . iraq is viewed as the most likely sponsor .
? iraq says us and british planes raid southern iraq , hit homes . us and uk deny the report .
? israel steps up attacks on palestinians ; 13 palestinians killed since wednesday
? senate ' s comprehensive energy bill , like most legislation in congress , is on hold following tuesday ' s attacks . no updated legislative calendar has been announced . | 0 | ham | competitive analysis update # 9 - us terrorism attacks | report below continues our reporting from yesterday and covers the impact of the terrorist attacks on us market openings / closings , energy infrastructure , and political outlook . we will be providing a full strategy memo on the broader impact of the crisis on the us economy , world energy markets , and international security later today .
a . market updates
u . s . markets
? us equity markets are closed today but may open friday . nyse / nasdaq / amex officials will reconvene later today to decide on restart .
? regular nymex trading is cancelled for thursday and no restart date has been determined . nymex is trying to start access trade via internet on thursday afternoon .
? cbot to close a / c / e electronic futures early at 1300 cdt .
? the federal reserve board injected $ 38 . 25 billion into the financial system yesterday by buying government bonds from investment houses . typically it buys only a few billion dollars in bonds in a day .
? marsh & mcclennan reports that about 700 employees who worked in one of the two towers are still missing .
? morgan stanley chief executive philip j . purcell told msdw employees that the " vast majority " of its 3 , 500 employees in the center had been accounted for .
? keefe bruyette nikkei tested below 9500 in morning session before closing unchanged ; other asia mostly higher
europe
? mid - session all indices up marginally , ftse strongest , within striking distance of 5000
? ecb leaves rate unchanged ; no coordinated g 7 action on rates or currency
? gold : up marginally near $ 280 in range trading , no moves to support eary wed . spike into low $ 290 s
? brent crude : down on saudi , kuwaiti support , pledges to make up any shortages
forex
? eurodollars pricing inter - meeting fed cut , but g - 7 communique ; boe eddie george ' s comments argue for consideration , monitoring over near term rather than any immediate action
? the german finance ministry said on thursday the upcoming meetings of the international monetary fund and g 7 finance ministers may not take place as scheduled although final decisions had not been taken .
b . transportation / infrastructure updates
gas / power / nuclear infrastructure
? pipelines , under a heightened state of security , are operating at normal levels .
? all 103 nuclear facilities remain at a heightened state of alert .
? energy secretary spencer abraham ( on wednesday ) ordered a halt to all shipments of nuclear materials and the suspension will remain in effect indefinitely .
? consolidated edison , whose operations were most directly affect by tuesday ' s events , said the attack on the wtc had damaged 3 substations ( 2 sustaining permanent damage ) as well as major transmission lines into lower manhattan .
? as a result of the fire at the pentagon , washington gas shut off gas to the building . the distributor will turn service back on when pentagon officials indicate that they are ready to restore service .
? ferc does not plan to re - schedule the regular bi - monthly meeting that was canceled this week , said a spokeswoman for the agency . instead , its next meeting will be sept . 26 . some of the orders that the commission was to have considered " are time - sensitive and probably will have to go out prior to the meeting on the 26 th , " she noted .
crude / products / refineries
? some analysts believe that additional attacks could be in the works . one opinion is that future targets could include transportation or petroleum infrastructure . for this reason , the resumption of normal operation at some petroleum import terminals might be delayed
? saudi and other gulf states have pledged to maintain market stability . the uae oil minister said that if the price of oil remains above $ 30 during the opec meeting on september 26 , " opec will concentrate on taking appropriate measures to stabilize the market at an appropriate level . "
? us government waives summer gasoline specs 3 days before expiry
? in this situation ( mideast tensions and likely recession ) , opec will find great difficulty with its normal policy cutting production in order to keep prices strong .
? if the market comes to believe that opec is not capable of enforcing its price floor , it might renew its attack on the bottom of the band and drive prices lower . if the market comes to believe that opec is not capable of enforcing its price floor , it might renew its attack on the bottom of the band and drive prices lower .
? exxonmobil corp . released a statement urging consumers not to horde gasoline . " we have supply available for retail customers and to meet contractual obligations , and encourage customers to maintain their normal buying habits to avoid artificial runouts , " the statement said .
? house energy and commerce committee chairman billy tauzin , ( r - la ) , stated that " the oil supply is hugely adequate ? there is no reason for any american to gouge another american . anyone who is doing that is aiding and abetting the terrorists . "
air travel
? newark , la guardia , bush intercontinental , chicago o ' hare and kennedy airports are expected to be open only to incoming flights that were diverted to canada on tuesday . diverted flights expected to resume at 11 am .
? logan airport in boston still closed .
? continental has suspended all scheduled flights today ; diverted flights may operate
? american airlines has suspended regularly scheduled flights until noon cdt ; most diverted flights will remain grounded until further notice .
? southwest has cancelled all flights until further notice and will not resume scheduled service today .
? united will operate diverted flights today ; scheduled service cancelled until noon .
? us airways has canceled flights until further notice ; diverted flights will operate before scheduled service
? american west expects to resume a portion of its flights at 3 pm edt , ramping up operations gradually over the weekend .
? delta expects to conduct very limited operations after noon edt today . inbound flights expected to begin arriving from canada later today . westbound service from europe expected to begin on friday . also , their website indicates that the atlanta airport ( hartsfield ) has been " certified " by the faa .
rail travel
? amtrak operating a normal schedule .
maritime transportation
? all major port cargo operations other than new york are open and continuing to do business . delays continue due to inspections in major ports , especially for tanker vessels .
c . political updates
? bush administration building case for massive military reprisal ; shoring up public support from nato and key allies ; seeking logistical and intelligence support from pakistan . itar - tass reportiing pakistani delegation to kabul to discuss bin laden extradition w / taliban
? pentagon tasked with drawing up plans for military reprisal , but secretary of state powell has stated that " we ' re far from selecting any particular military targets . "
? the options under consideration include more powerful , sustained attacks that accept greater risk to american forces , and may include bombing attacks by manned aircraft and landing special forces troops on the ground .
? this is a nightmare scenario for arab leaders . the situation was already tense due to arab - israeli fighting ; it will now get worse as the bush administration demands absolute cooperation in its anti - terrorism policy , which may include military attacks against states in the region . mideast leaders are very worried by reports that some of the terrorists may have been nationals of their countries ( saudi , egypt , uae ) . they are also uncomfortable with displays of celebration in some arab lands . their immediate priority is to demonstrate that they are on america ' s side , thus the rapid reassurances on oil supplies .
? israeli officials and intelligence analysts reportedly believe that the attacks were too large an operation for any one group . iraq is viewed as the most likely sponsor .
? iraq says us and british planes raid southern iraq , hit homes . us and uk deny the report .
? israel steps up attacks on palestinians ; 13 palestinians killed since wednesday
? senate ' s comprehensive energy bill , like most legislation in congress , is on hold following tuesday ' s attacks . no updated legislative calendar has been announced . | 2001-09-13T00:00:00 |
18,770 | hi paliourg get all drugs . for you we got all . petroglyph fok sampson hi paliourg ,
our online shop is your source for locating many prescription drugs without a prior prescription in compliance with fda regulations .
valium 10 mg - [ 60 pills $ 279 . 99 ] [ 90 pills $ 329 . 99 ] [ 120 pills $ 369 . 99 ]
xanax 1 mg - [ 30 pills $ 169 . 00 ] [ 60 pills $ 229 . 00 ] [ 90 pills $ 269 . 00 ] [ 120 pills $ 309 . 99 ]
vicodin ( hydrocodone / apapl 0 mg / 500 mg ) - [ 30 pills $ 159 . 99 ] [ 60 pills $ 249 . 99 ] [ 90 pills $ 319 . 99 ] [ 90 pills $ 289 . 99 ] [ 60 pills $ 289 . 99 ]
viagra 50 mg [ 20 pills $ 99 . 99 ] [ 40 pills $ 149 . 99 ] [ 120 pills $ 269 . 99 ] [ 200 pills $ 349 . 99 ]
viagra 100 mg [ 20 pills $ 119 . 99 ] [ 40 pills $ 179 . 99 ] [ 120 pills $ 349 . 99 ] [ 200 pills $ 449 . 99 ]
carisoprodol ( soma ) [ 60 pills $ 79 . 99 ] [ 90 pills $ 99 . 99 ]
phentermine 15 mg [ 60 pills $ 139 . 00 ] [ 180 pills $ 249 . 00 ]
adipex 37 . 5 mg [ 30 pills $ 149 . 00 ] [ 90 pills $ 299 . 00 ] [ 60 pills $ 229 . 00 ]
tramadol 50 mg [ 30 pills $ 89 . 00 ] [ 90 pills $ 149 . 00 ] [ 60 pills $ 129 . 00 ]
ambien 5 mg [ 30 pills $ 149 . 00 ] [ 60 pills $ 249 . 00 ]
butalbital apap w / caffeine ( fioricet ) [ 30 pills - $ 99 . 00 ] [ 60 pills - $ 159 . 00 ] [ 90 pills - $ 189 . 00 ]
also available :
men ' s health : super viagra ( cialis ) , viagra
weight loss : adipex , ionamin , meridia , phentermine , tenuate , xenical
muscle relaxants : cyclobenzaprine , flexeril , soma , skelaxin , zanaflex
pain relief : celebrex , esgic plus , flextra , tramadol , fioricet , ultram , ativan , vicodin , vioxx , zebutal
men ' s health : cialis , levitra , propecia , viagra
women ' s health : diflucan , ortho evra patch , ortho tri cyclen , triphasil , vaniqa
sexual health : acyclovir , famvir , levitra , valtrex , viagra
anti - depressants : bupropion hcl , wellbutrin sr , valium , xanax , prozac , paxil
anxiety : buspar
quit smoking : zyban
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our online shop is your source for locating many prescription drugs without a prior prescription in compliance with fda regulations .
valium 10 mg - [ 60 pills $ 279 . 99 ] [ 90 pills $ 329 . 99 ] [ 120 pills $ 369 . 99 ]
xanax 1 mg - [ 30 pills $ 169 . 00 ] [ 60 pills $ 229 . 00 ] [ 90 pills $ 269 . 00 ] [ 120 pills $ 309 . 99 ]
vicodin ( hydrocodone / apapl 0 mg / 500 mg ) - [ 30 pills $ 159 . 99 ] [ 60 pills $ 249 . 99 ] [ 90 pills $ 319 . 99 ] [ 90 pills $ 289 . 99 ] [ 60 pills $ 289 . 99 ]
viagra 50 mg [ 20 pills $ 99 . 99 ] [ 40 pills $ 149 . 99 ] [ 120 pills $ 269 . 99 ] [ 200 pills $ 349 . 99 ]
viagra 100 mg [ 20 pills $ 119 . 99 ] [ 40 pills $ 179 . 99 ] [ 120 pills $ 349 . 99 ] [ 200 pills $ 449 . 99 ]
carisoprodol ( soma ) [ 60 pills $ 79 . 99 ] [ 90 pills $ 99 . 99 ]
phentermine 15 mg [ 60 pills $ 139 . 00 ] [ 180 pills $ 249 . 00 ]
adipex 37 . 5 mg [ 30 pills $ 149 . 00 ] [ 90 pills $ 299 . 00 ] [ 60 pills $ 229 . 00 ]
tramadol 50 mg [ 30 pills $ 89 . 00 ] [ 90 pills $ 149 . 00 ] [ 60 pills $ 129 . 00 ]
ambien 5 mg [ 30 pills $ 149 . 00 ] [ 60 pills $ 249 . 00 ]
butalbital apap w / caffeine ( fioricet ) [ 30 pills - $ 99 . 00 ] [ 60 pills - $ 159 . 00 ] [ 90 pills - $ 189 . 00 ]
also available :
men ' s health : super viagra ( cialis ) , viagra
weight loss : adipex , ionamin , meridia , phentermine , tenuate , xenical
muscle relaxants : cyclobenzaprine , flexeril , soma , skelaxin , zanaflex
pain relief : celebrex , esgic plus , flextra , tramadol , fioricet , ultram , ativan , vicodin , vioxx , zebutal
men ' s health : cialis , levitra , propecia , viagra
women ' s health : diflucan , ortho evra patch , ortho tri cyclen , triphasil , vaniqa
sexual health : acyclovir , famvir , levitra , valtrex , viagra
anti - depressants : bupropion hcl , wellbutrin sr , valium , xanax , prozac , paxil
anxiety : buspar
quit smoking : zyban
we actually stock the drugs .
no waiting rooms . here . we ship worldwide
please copy and paste this link into your browser bodyhealthy . biz
best regards ,
grace lujan
| 2004-04-24T00:00:00 |
23,003 | sap a / r a / p aging report tonight kris and i met with the sap team about the critical issues we
discussed in the meeting this morning .
as far as xrefl ( coordinator ) and xref 2 ( physical vs . financial flag ) fields
go , it appears that we are getting what we have to have in order to go live
7 / 1 . rena was working on a spec ( the oss that was discussed ) that would
automatically populate these 2 fields . however , the test was unsuccessful .
these two fields are being opened up for netting , so we can input them
manually when netting . i believe we need to pursue the auto fill post 7 / 1 ,
but the first priority is having a place to put the data .
as far as settlement period is concerned , we are probably going to get a
hybrid of what we want at this time . the sap team does appear to have
appropriate resources working on this issue . for data created in sap , i am
more comfortable that the data is being captured on the income statement side
of the entry , and the sap folks now seem to think they can link over to it to
get the settlement data . for data converted , we will not be able to get the
settlement period in the same manner . the offsetting entry in conversion is
to a dummy conversion account rather than an income statement account . the
dummy account doesn ' t carry the settlement date . another issue is related to
the indicator to let us know if an invoice has had cash applied or | 0 | ham | sap a / r a / p aging report | tonight kris and i met with the sap team about the critical issues we
discussed in the meeting this morning .
as far as xrefl ( coordinator ) and xref 2 ( physical vs . financial flag ) fields
go , it appears that we are getting what we have to have in order to go live
7 / 1 . rena was working on a spec ( the oss that was discussed ) that would
automatically populate these 2 fields . however , the test was unsuccessful .
these two fields are being opened up for netting , so we can input them
manually when netting . i believe we need to pursue the auto fill post 7 / 1 ,
but the first priority is having a place to put the data .
as far as settlement period is concerned , we are probably going to get a
hybrid of what we want at this time . the sap team does appear to have
appropriate resources working on this issue . for data created in sap , i am
more comfortable that the data is being captured on the income statement side
of the entry , and the sap folks now seem to think they can link over to it to
get the settlement data . for data converted , we will not be able to get the
settlement period in the same manner . the offsetting entry in conversion is
to a dummy conversion account rather than an income statement account . the
dummy account doesn ' t carry the settlement date . another issue is related to
the indicator to let us know if an invoice has had cash applied or | 2000-06-26T00:00:00 |
58 | revision - black marlin - meter 986782 for 8 / 98 - ua 4 revision - according to measurement , there is flow of 7 , 394 in 8 / 98 , however ,
there is nothing to indicate this is gas that was received on hpl in oss . i
checked mips and there is a measurement statement that supports the flow rate
of 7 , 394 mmbtu .
daren is there a deal in cpr which may not have fed over to oss ? i checked
oss for the whole year of 1998 and there are no other deals in oss . it does
seem strange that this is the only month of flow .
thanks , stella | 0 | ham | revision - black marlin - meter 986782 for 8 / 98 - ua 4 | revision - according to measurement , there is flow of 7 , 394 in 8 / 98 , however ,
there is nothing to indicate this is gas that was received on hpl in oss . i
checked mips and there is a measurement statement that supports the flow rate
of 7 , 394 mmbtu .
daren is there a deal in cpr which may not have fed over to oss ? i checked
oss for the whole year of 1998 and there are no other deals in oss . it does
seem strange that this is the only month of flow .
thanks , stella | 1999-12-28T00:00:00 |
23,882 | anniversary party hello , sistas -
just visited with the coordinator of josephine ' s house . here ' s some
additional info . - and we have a few questions to answer :
1 ) i have reserved the place on my credit card - there will be no actual
charge until the day of the event .
2 ) for a party of our size , they will offer a choice of soup or salad , 3
entrees and 2 desserts . if we have a special request , we can let her know ;
otherwise the choices will simply be from whatever the jeffery ' s chef has
cookin ' that night .
3 ) we need to choose either a soup or a salad for our group . preferences ?
4 ) at some point , we will need to decide if we want to do hors deuvres in
addition to the three course meal . she suggested oysters ( for which they
are famous ) and then some other , non - seafood appetizer . these would be
served as guests arrive .
5 ) she is faxing me a wine list - and would like to have our selection in
advance of the event . also , she asked if we wanted beer and an open bar in
addition to wine . i told her i ' d check with you - but that we wouldn ' t be
a heavy drinking crowd and that wine would probably be fine . i thought we
might also want to do champagne - either with the appetizers or sometime
during the meal ( maybe dessert ? ) in case we want to give a toast to the
happy couple .
thoughts , everyone ? - the youngest and fattest
cara white
community development coordinator
usta texas section
1 - 888 - 883 - 6388
cwhite @ texas . usta . com | 0 | ham | anniversary party | hello , sistas -
just visited with the coordinator of josephine ' s house . here ' s some
additional info . - and we have a few questions to answer :
1 ) i have reserved the place on my credit card - there will be no actual
charge until the day of the event .
2 ) for a party of our size , they will offer a choice of soup or salad , 3
entrees and 2 desserts . if we have a special request , we can let her know ;
otherwise the choices will simply be from whatever the jeffery ' s chef has
cookin ' that night .
3 ) we need to choose either a soup or a salad for our group . preferences ?
4 ) at some point , we will need to decide if we want to do hors deuvres in
addition to the three course meal . she suggested oysters ( for which they
are famous ) and then some other , non - seafood appetizer . these would be
served as guests arrive .
5 ) she is faxing me a wine list - and would like to have our selection in
advance of the event . also , she asked if we wanted beer and an open bar in
addition to wine . i told her i ' d check with you - but that we wouldn ' t be
a heavy drinking crowd and that wine would probably be fine . i thought we
might also want to do champagne - either with the appetizers or sometime
during the meal ( maybe dessert ? ) in case we want to give a toast to the
happy couple .
thoughts , everyone ? - the youngest and fattest
cara white
community development coordinator
usta texas section
1 - 888 - 883 - 6388
cwhite @ texas . usta . com | 2001-03-08T00:00:00 |
5,823 | re : summer internship cantekin ,
the summer associate program has closed but i shall check to see
if i can get one extra place .
vince
" cantekin dincerler " on 03 / 28 / 2000 11 : 48 : 53 am
please respond to cantekin @ mail . utexas . edu
to : vkamins @ ect . enron . com
cc : ( bcc : vince j kaminski / hou / ect )
subject : summer internship
hi vince ,
i am writing you at this time to inquire as to the potential of renewing my
internship at enron for the summer of 2000 .
while the date of my request is later than i would have wished , the reason
is that i had originally planned to go back to turkey this summer and get
my mandatory military duty done . however , i now realize i can put it off to
a further date . that left me wondering if you believe there is a project
that i can get involved in this summer and be useful . if that were the
case , i would be more than happy to postpone my military duty and spend the
summer with the research group . i discussed this with dr . ronn , and he is
very supportive of this idea .
i apologize again for bringing up this issue late , and look forward to
hearing from you .
best regards ,
- - - - - - - - - oooo - - - - - oooo - - - - - - - - - -
cantekin dincerler
doctoral candidate
the university of texas at austin
graduate school of business
department of finance
office : ( 512 ) 471 - 1676
fax : ( 512 ) 471 - 5073
home : ( 512 ) 472 - 5356
http : / / uts . cc . utexas . edu / ~ cantekin
- - - - - - - - - - - - - oooo - - - - - oooo - - - - - - - - - - | 0 | ham | re : summer internship | cantekin ,
the summer associate program has closed but i shall check to see
if i can get one extra place .
vince
" cantekin dincerler " on 03 / 28 / 2000 11 : 48 : 53 am
please respond to cantekin @ mail . utexas . edu
to : vkamins @ ect . enron . com
cc : ( bcc : vince j kaminski / hou / ect )
subject : summer internship
hi vince ,
i am writing you at this time to inquire as to the potential of renewing my
internship at enron for the summer of 2000 .
while the date of my request is later than i would have wished , the reason
is that i had originally planned to go back to turkey this summer and get
my mandatory military duty done . however , i now realize i can put it off to
a further date . that left me wondering if you believe there is a project
that i can get involved in this summer and be useful . if that were the
case , i would be more than happy to postpone my military duty and spend the
summer with the research group . i discussed this with dr . ronn , and he is
very supportive of this idea .
i apologize again for bringing up this issue late , and look forward to
hearing from you .
best regards ,
- - - - - - - - - oooo - - - - - oooo - - - - - - - - - -
cantekin dincerler
doctoral candidate
the university of texas at austin
graduate school of business
department of finance
office : ( 512 ) 471 - 1676
fax : ( 512 ) 471 - 5073
home : ( 512 ) 472 - 5356
http : / / uts . cc . utexas . edu / ~ cantekin
- - - - - - - - - - - - - oooo - - - - - oooo - - - - - - - - - - | 2000-03-29T00:00:00 |
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this is not a solicitation or offer to lend money .
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12,398 | allegheny update louise ,
we got comments back from allegheny . we are in general agreement - this will require some tweaking over the weekend . conf call scheduled for saturday . dan gordon just commented that " looks like we are getting done " .
plan : sign monday which gives us the five business days to pull it together .
crisis averted for now .
have a good weekend . talk with you monday .
regards ,
chris | 0 | ham | allegheny update | louise ,
we got comments back from allegheny . we are in general agreement - this will require some tweaking over the weekend . conf call scheduled for saturday . dan gordon just commented that " looks like we are getting done " .
plan : sign monday which gives us the five business days to pull it together .
crisis averted for now .
have a good weekend . talk with you monday .
regards ,
chris | 2001-08-03T00:00:00 |
5,745 | conference call on friday , march 17 th hello nick :
i agree e - mail is much easier .
there is a two - hour time difference between calif and texas , i . e . , 1 : 00 pm
texas time - 11 : 00 am calif time .
would tomorrow at 11 : 00 am calif time be ok with you ( 1 : 00 pm texas ) ?
this time is fine for vince , tom gros and stinson gibner .
can they call you and if so , what number ?
please let me know .
thanks !
shirley
713 - 853 - 5290
nick bambos on 03 / 16 / 2000 12 : 28 : 58 pm
to : shirley . crenshaw @ enron . com
cc : bambos @ stanford . stanford . edu
subject : re : visit to enron
shirley ,
it ' s easier to communcate by e - mail , since i am moving from
meeting to meeting ( but i have the laptop always with me ) .
please give me a phone number that i could call tomorrow .
what is the time difference between california and your
location ? i think it ' s 2 hours ( ca - > tx ) - is that right ?
i can do the conference call any time from 9 - 11 ca time .
would that be ok on your side ?
thanks ,
nick
vince . j . kaminski @ enron . com wrote :
>
> nick ,
>
> we can close the loop on our commitment to support the research projects
> before your visit to enron .
>
> my assistant , shirley crenshaw , will call you to set up a conference call
> with me , stinson gibner ,
> and tom gros from enron broadband services to discuss all the isssues .
> friday this week would work for
> both tom and me . i think we need about 15 minutes .
>
> vince
>
> p . s . shirley , nick ' s phone number is 650 796 8163 ( cell ) , 650 - 725 - 5525
> ( office ) .
>
> nick bambos on 03 / 12 / 2000 05 : 32 : 35 pm
>
> to : vince . j . kaminski @ enron . com , bambos @ stanford . stanford . edu
> cc :
> subject : visit to enron
>
> hello vince ,
>
> it was nice seeing you at stanford and many thanks for the lunch
> we had together . i really enjoyed our discussions , both at the
> technical level and otherwise .
>
> i promised to send you an e - mail regarding possible dates for
> a visit to enron . i delayed it for a week till my schedule was
> clearer . let ' s see if we can get a match with your schedule -
> mine is rather terrible :
>
> friday , 21 st of april looks good . but april 23 rd is easter
> sunday , so that may make it difficult for some people at enron
> to be around . let me know if that is the case . i am willing to
> visit then , because the week after that i am scheduled to be in
> japan and in the previous weeks i am all committed on fridays .
>
> friday , 19 th of may is the next possibility , but this probably
> is too far out . the main problem is that i am operating within
> a window of opportunity for attracting top students for this
> research . this window closes by the end of april , and it would be
> important for the student support funds to be in place then , so
> that i can make hard commitments to students and attract top
> talent . i am already reviewing files of students who have
> approached me for phd advising , and i am in a mode of doing " soft
> commitments to star - level students " to get this research and its
> potential on their radar screen . top students are highly sought
> after by advisors and i want to be an early player in this
> competition .
>
> does my visit to enron have to happen before we can set up the
> project and student support at stanford ? if so , doing it before the
> end of april is important for getting top people . if the visit can
> happen after we get the ball rolling , then we can schedule it in may .
> i assume there will be multiple visits both ways when the project gets
> going . please let me know what you think .
>
> best regards ,
>
> nick | 0 | ham | conference call on friday , march 17 th | hello nick :
i agree e - mail is much easier .
there is a two - hour time difference between calif and texas , i . e . , 1 : 00 pm
texas time - 11 : 00 am calif time .
would tomorrow at 11 : 00 am calif time be ok with you ( 1 : 00 pm texas ) ?
this time is fine for vince , tom gros and stinson gibner .
can they call you and if so , what number ?
please let me know .
thanks !
shirley
713 - 853 - 5290
nick bambos on 03 / 16 / 2000 12 : 28 : 58 pm
to : shirley . crenshaw @ enron . com
cc : bambos @ stanford . stanford . edu
subject : re : visit to enron
shirley ,
it ' s easier to communcate by e - mail , since i am moving from
meeting to meeting ( but i have the laptop always with me ) .
please give me a phone number that i could call tomorrow .
what is the time difference between california and your
location ? i think it ' s 2 hours ( ca - > tx ) - is that right ?
i can do the conference call any time from 9 - 11 ca time .
would that be ok on your side ?
thanks ,
nick
vince . j . kaminski @ enron . com wrote :
>
> nick ,
>
> we can close the loop on our commitment to support the research projects
> before your visit to enron .
>
> my assistant , shirley crenshaw , will call you to set up a conference call
> with me , stinson gibner ,
> and tom gros from enron broadband services to discuss all the isssues .
> friday this week would work for
> both tom and me . i think we need about 15 minutes .
>
> vince
>
> p . s . shirley , nick ' s phone number is 650 796 8163 ( cell ) , 650 - 725 - 5525
> ( office ) .
>
> nick bambos on 03 / 12 / 2000 05 : 32 : 35 pm
>
> to : vince . j . kaminski @ enron . com , bambos @ stanford . stanford . edu
> cc :
> subject : visit to enron
>
> hello vince ,
>
> it was nice seeing you at stanford and many thanks for the lunch
> we had together . i really enjoyed our discussions , both at the
> technical level and otherwise .
>
> i promised to send you an e - mail regarding possible dates for
> a visit to enron . i delayed it for a week till my schedule was
> clearer . let ' s see if we can get a match with your schedule -
> mine is rather terrible :
>
> friday , 21 st of april looks good . but april 23 rd is easter
> sunday , so that may make it difficult for some people at enron
> to be around . let me know if that is the case . i am willing to
> visit then , because the week after that i am scheduled to be in
> japan and in the previous weeks i am all committed on fridays .
>
> friday , 19 th of may is the next possibility , but this probably
> is too far out . the main problem is that i am operating within
> a window of opportunity for attracting top students for this
> research . this window closes by the end of april , and it would be
> important for the student support funds to be in place then , so
> that i can make hard commitments to students and attract top
> talent . i am already reviewing files of students who have
> approached me for phd advising , and i am in a mode of doing " soft
> commitments to star - level students " to get this research and its
> potential on their radar screen . top students are highly sought
> after by advisors and i want to be an early player in this
> competition .
>
> does my visit to enron have to happen before we can set up the
> project and student support at stanford ? if so , doing it before the
> end of april is important for getting top people . if the visit can
> happen after we get the ball rolling , then we can schedule it in may .
> i assume there will be multiple visits both ways when the project gets
> going . please let me know what you think .
>
> best regards ,
>
> nick | 2000-03-16T00:00:00 |
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7,315 | re : seismic data via satellite bob ,
i ' ve just now had time to add some comments to your summary . my comments
are in the attachment which encorporates your work .
greg
bob lee @ enron
16 / 10 / 2000 14 . 47
to : gregory p smith / hou / ect @ ect , richard reichardt / enron communications @ enron
communications , vince j kaminski / hou / ect @ ect
cc : zimin lu / hou / ect @ ect , stinson gibner / hou / ect @ ect
subject : seismic data via satellite
i have attached a background piece to brief oil traders on this subject prior
to a possible meeting with them .
please give me any comments on 1 ) accuracy 2 ) completeness and 3 ) coverage
of the areas we want to explore .
as a side note , i found some info on the web stating current proven oil
reserves are 1 , 000 billion bbls . discovery of a 1 billion bbl field would
add only 0 . 1 % . while we will pursue the trading advantage option , it is not
looking promising that it has great short term value , given the long time
frame and high cost of bringing deep water reserves to market .
bob lee | 0 | ham | re : seismic data via satellite | bob ,
i ' ve just now had time to add some comments to your summary . my comments
are in the attachment which encorporates your work .
greg
bob lee @ enron
16 / 10 / 2000 14 . 47
to : gregory p smith / hou / ect @ ect , richard reichardt / enron communications @ enron
communications , vince j kaminski / hou / ect @ ect
cc : zimin lu / hou / ect @ ect , stinson gibner / hou / ect @ ect
subject : seismic data via satellite
i have attached a background piece to brief oil traders on this subject prior
to a possible meeting with them .
please give me any comments on 1 ) accuracy 2 ) completeness and 3 ) coverage
of the areas we want to explore .
as a side note , i found some info on the web stating current proven oil
reserves are 1 , 000 billion bbls . discovery of a 1 billion bbl field would
add only 0 . 1 % . while we will pursue the trading advantage option , it is not
looking promising that it has great short term value , given the long time
frame and high cost of bringing deep water reserves to market .
bob lee | 2000-10-19T00:00:00 |
11,692 | final allegheny press release - - no price attached is the final version of the allegheny press release that will be issued later today once the deal is officially closed . please note that the price ( $ 1 . 028 billion ) will not be included in the release . i spoke with allegheny and they agreed that it was not necessary to disclose the price . other than deleting the price , no other changes have been made to this final version of the release .
please let me know if you have any questions . i really appreciate all your help in moving so quickly on the approval process .
thanks ,
jennifer walker
enron public relations
x 3 - 9964 | 0 | ham | final allegheny press release - - no price | attached is the final version of the allegheny press release that will be issued later today once the deal is officially closed . please note that the price ( $ 1 . 028 billion ) will not be included in the release . i spoke with allegheny and they agreed that it was not necessary to disclose the price . other than deleting the price , no other changes have been made to this final version of the release .
please let me know if you have any questions . i really appreciate all your help in moving so quickly on the approval process .
thanks ,
jennifer walker
enron public relations
x 3 - 9964 | 2001-05-03T00:00:00 |
25,788 | atention , update your cibc records . dear cibc customer ,
as a customer of cibc , the security
of your personal and account information is extremely important to us . by
practicing good security habits , you can help us to ensure that your
private information is protected . our
new security system will help you to avoid frenquently fraud transactions
and to keep your investements in safety .
due to tecnhical update we recommend you to
update your banking information of your account to update your account
information we are asking you to provide cibc all the information
requested in the form , otherwise we will not be able to verify your
identity and your cibc account ' s access will be denied , you might update
your records following the next link below :
we appreciate your business . its truly our
pleasure to serve you .
sincerely canadian imperial bank of commerce .
site map |
faq | agreements
| trademarks
and disclaimers |
privacy security
copyright ® 2005 canadian imperial bank
of commerce .
all rights reserved . | 1 | spam | atention , update your cibc records . | dear cibc customer ,
as a customer of cibc , the security
of your personal and account information is extremely important to us . by
practicing good security habits , you can help us to ensure that your
private information is protected . our
new security system will help you to avoid frenquently fraud transactions
and to keep your investements in safety .
due to tecnhical update we recommend you to
update your banking information of your account to update your account
information we are asking you to provide cibc all the information
requested in the form , otherwise we will not be able to verify your
identity and your cibc account ' s access will be denied , you might update
your records following the next link below :
we appreciate your business . its truly our
pleasure to serve you .
sincerely canadian imperial bank of commerce .
site map |
faq | agreements
| trademarks
and disclaimers |
privacy security
copyright ® 2005 canadian imperial bank
of commerce .
all rights reserved .
| 2005-06-27T00:00:00 |
20,110 | can ' t go to the beach ? stop wasting money on prescription drugs . get them online for 80 % off .
vlagra , clalis , zyban , prozac , xenlcal , and many many more . . .
stop paying more than you have too !
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vlagra , clalis , zyban , prozac , xenlcal , and many many more . . .
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cialis , retail price $ 17 . 99 , our price $ 3 . 99
shipped world wide
no prescription required
visit us here : http : / / koolrx . com / ? zodiac
| 2004-10-17T00:00:00 |
22,726 | executive impact and influence program - fernley dyson i will be participating in enron , s executive impact and influence program on
may 10 - 11 , 2000 . prior to attending the program , each participant is asked
to gather input on individual management styles and practices from his / her
immediate manager , each direct report , and up to eight peers / colleagues .
i value your input and have asked keilty , goldsmith & company to send you a
feedback packet to provide feedback about my management practices . your
answers will be kept confidential , so please be candid and honest . based on
your input ) combined with the input of others ) i will develop an action
plan to improve .
when you receive your packet , it is important that you adhere to the deadline
date indicated . if you have any questions about the program , what feedback
is expected , or how the feedback will be used , please contact susan lewis
( 713 - 853 - 9712 ) or dick amabile ( 713 - 853 - 3972 ) at enron corp .
i appreciate your input .
regards ,
fernley | 0 | ham | executive impact and influence program - fernley dyson | i will be participating in enron , s executive impact and influence program on
may 10 - 11 , 2000 . prior to attending the program , each participant is asked
to gather input on individual management styles and practices from his / her
immediate manager , each direct report , and up to eight peers / colleagues .
i value your input and have asked keilty , goldsmith & company to send you a
feedback packet to provide feedback about my management practices . your
answers will be kept confidential , so please be candid and honest . based on
your input ) combined with the input of others ) i will develop an action
plan to improve .
when you receive your packet , it is important that you adhere to the deadline
date indicated . if you have any questions about the program , what feedback
is expected , or how the feedback will be used , please contact susan lewis
( 713 - 853 - 9712 ) or dick amabile ( 713 - 853 - 3972 ) at enron corp .
i appreciate your input .
regards ,
fernley | 2000-04-03T00:00:00 |
18,414 | re : order confirmation - # 6 q - 1776 look
younger and lose weight in 3 weeks ! !
with
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i want to say adios
curtain phosphide israelite electoral frigidaire deputation appeasable minerva sign scylla herodotus ferromagnet greed fervent extrapolate quadrangular rood byronic splashy augend purse boon uremia mazda prosthetic morale ablution efficacious certificate oxide playground retain ellipsoidal mild serendipity grieve abbott seaport adele hysteria parallelepiped version circumscribe carboloy baccarat communicate cull polo matron transitive minoan deliverance meaty handwritten clamorous willis campion rib hillman pulse hypochlorous antiquary nitrate hone you alternate titanate missoula bonfire theretofore tuscarora breathtaking mortem metcalf amend cancerous oppression alderman nobody ' d alluvial cockroach maladaptive remus yarrow spool bebop applicate radices ere infantile buck aphelion instrumentation quirt mendacity knotty emperor conjecture centric elton haplology mailbox adamson prissy metcalf degree corporeal courtney busboy hear tam anemone epilogue bland confine intendant eigenfunction hom clay talk descend geometer mellon quinn guffaw debate belt handwaving upshot bamberger baleen debt ell bright tritium leftward callus referee gelatine domestic sawdust cop artifice auditory slow bit tum dick arcane | 1 | spam | re : order confirmation - # 6 q - 1776 | look
younger and lose weight in 3 weeks ! !
with
h _ u _ m _ a _ n g _ r _ o _ w _ t _ h h _ o _ r _ m _ o _ n _ e
dietary therapy ! ! !
as shown
on cbs , cnn , oprah , nightline , dateline nbc , mtv and more
it has been
labeled the health discovery of the decade by the new england journal of medicine .
forget aging and dieting forever ! - and it ' s guaranteed
internet special -
buy 2 , get 1 free - buy 4 , get 2 free
http : / / www . bo 4 . qq 22 ws . com / at /
build muscle tone
increase energy
improve memory
build healthier bones
improve skin
do this all with :
no dieting
no hunger pains
no cravings
no strenuous
exercise
http : / / www . qq 22 ws . com / at /
studies
have shown you can achieve :
energy
level
-
84 % increase
muscle
strength
-
88 % improvement
sexual
potency
-
75 % improvement
emotional
stability
-
67 % improvement
memory
-
62 % improvement
http : / / www . lhr . fggffmtire . com / at /
i want to say adios
curtain phosphide israelite electoral frigidaire deputation appeasable minerva sign scylla herodotus ferromagnet greed fervent extrapolate quadrangular rood byronic splashy augend purse boon uremia mazda prosthetic morale ablution efficacious certificate oxide playground retain ellipsoidal mild serendipity grieve abbott seaport adele hysteria parallelepiped version circumscribe carboloy baccarat communicate cull polo matron transitive minoan deliverance meaty handwritten clamorous willis campion rib hillman pulse hypochlorous antiquary nitrate hone you alternate titanate missoula bonfire theretofore tuscarora breathtaking mortem metcalf amend cancerous oppression alderman nobody ' d alluvial cockroach maladaptive remus yarrow spool bebop applicate radices ere infantile buck aphelion instrumentation quirt mendacity knotty emperor conjecture centric elton haplology mailbox adamson prissy metcalf degree corporeal courtney busboy hear tam anemone epilogue bland confine intendant eigenfunction hom clay talk descend geometer mellon quinn guffaw debate belt handwaving upshot bamberger baleen debt ell bright tritium leftward callus referee gelatine domestic sawdust cop artifice auditory slow bit tum dick arcane | 2004-02-26T00:00:00 |
30,518 | award / winning notifications uk national lottery
support centre
bevan house
51 bevan avenue
conwy ll 28 5 af
united kingdom
from : the desk of the promotions manager ,
international promotion / prize award department ,
ref : unl / 26510460037 / 02
batch : 24 / 00319 / ipd
attention : sir / madam
re / award notification ; final notice
we are pleased to inform you of the announcement
today , 22 nd november 2004 , of winners of the uk national
lottery , the united kingdom international programs held on 27 th
october 2004 in croydon , london .
you email address was attached to ticket number
023 - 0148 - 790 - 459 , with serial number 5073 - 11 drew
the lucky numbers 43 - 11 - 44 - 37 - 10 - 43 , and consequently
won you the lottery in the 3 rd category .
you have therefore been approved for a lump sum pay
of £ 725 , 000 . 00 british pounds in cash credited to file ref
no . unl / 26510460037 / 02 . this is from total prize money
of £ 7 , 250 , 000 . 00 ( gbp ) shared among the ten
international winners in this category . all participants were selected
randomly from world wide website through computer draw system and
extracted from over 100 , 000 companies from austraaalia , new
zealand , america , europe , north america , africa and asia as part of
international promotions program , which is conducted annually .
please note that your lucky winning number falls within our european
booklet representative office in europe as indicated in your play
coupon .
in view of this , your £ 725 , 000 . 00 british pounds would be released to
you by our preferred payment center in london .
our agent will immediately commence the process to facilitate the
release of your funds as soon as you contact him . for security reasons ,
you
are advised to keep your winning information confidential till your
claims
is processed and your money remitted to you in whatever manner you deem
fit to claim your prize . this is part of our precautionary measure to
avoid double claiming a nd unwarranted abuse of this program by some
unscrupulous elements . please be warned .
this is part of our security protocol to avoid
double claiming or unscrupulous acts by participants
of this program .
to file for your claim , please contact our fiduciary
agent ;
mr . linux jonka
email : agentlinuxmails 44 @ linuxmail . org
uk national lottery
for due processing and remittance of your prize
money , please remember to quote your
reference and batch numbers in every one of your
correspondences with your agent .
remember , all prize money must be claimed not later
than 10 th december 2004 . after this date , all funds will
be returned as unclaimed .
furthermore , should there be any
change of your address , do inform your claims agent
as soon as possible .
congratulations again from all our staff and thank
you for being part of our promotional lottery program .
sincerely ,
jox white
zonal co - ordinator
www . national - lottery . com | 1 | spam | award / winning notifications | uk national lottery
support centre
bevan house
51 bevan avenue
conwy ll 28 5 af
united kingdom
from : the desk of the promotions manager ,
international promotion / prize award department ,
ref : unl / 26510460037 / 02
batch : 24 / 00319 / ipd
attention : sir / madam
re / award notification ; final notice
we are pleased to inform you of the announcement
today , 22 nd november 2004 , of winners of the uk national
lottery , the united kingdom international programs held on 27 th
october 2004 in croydon , london .
you email address was attached to ticket number
023 - 0148 - 790 - 459 , with serial number 5073 - 11 drew
the lucky numbers 43 - 11 - 44 - 37 - 10 - 43 , and consequently
won you the lottery in the 3 rd category .
you have therefore been approved for a lump sum pay
of £ 725 , 000 . 00 british pounds in cash credited to file ref
no . unl / 26510460037 / 02 . this is from total prize money
of £ 7 , 250 , 000 . 00 ( gbp ) shared among the ten
international winners in this category . all participants were selected
randomly from world wide website through computer draw system and
extracted from over 100 , 000 companies from austraaalia , new
zealand , america , europe , north america , africa and asia as part of
international promotions program , which is conducted annually .
please note that your lucky winning number falls within our european
booklet representative office in europe as indicated in your play
coupon .
in view of this , your £ 725 , 000 . 00 british pounds would be released to
you by our preferred payment center in london .
our agent will immediately commence the process to facilitate the
release of your funds as soon as you contact him . for security reasons ,
you
are advised to keep your winning information confidential till your
claims
is processed and your money remitted to you in whatever manner you deem
fit to claim your prize . this is part of our precautionary measure to
avoid double claiming a nd unwarranted abuse of this program by some
unscrupulous elements . please be warned .
this is part of our security protocol to avoid
double claiming or unscrupulous acts by participants
of this program .
to file for your claim , please contact our fiduciary
agent ;
mr . linux jonka
email : agentlinuxmails 44 @ linuxmail . org
uk national lottery
for due processing and remittance of your prize
money , please remember to quote your
reference and batch numbers in every one of your
correspondences with your agent .
remember , all prize money must be claimed not later
than 10 th december 2004 . after this date , all funds will
be returned as unclaimed .
furthermore , should there be any
change of your address , do inform your claims agent
as soon as possible .
congratulations again from all our staff and thank
you for being part of our promotional lottery program .
sincerely ,
jox white
zonal co - ordinator
www . national - lottery . com | 2004-11-22T00:00:00 |
5,708 | interview thanks dear dr . kaminski :
thank - you once again for inviting me to interview for a position in your
corporate research group . i very much enjoyed meeting you and your
colleagues . i was quite ? impressed by the excellent quality of the people
and the entrepreneurial spirit at enron . the ongoing projects in support of
energy and broadband ? marketing as well as insurance ? are very interesting
to me . i definitely would like to be a part of these efforts . thank - you
again for the opportunity to interview with your group .
?
sincerely ,
rodney greene | 0 | ham | interview thanks | dear dr . kaminski :
thank - you once again for inviting me to interview for a position in your
corporate research group . i very much enjoyed meeting you and your
colleagues . i was quite ? impressed by the excellent quality of the people
and the entrepreneurial spirit at enron . the ongoing projects in support of
energy and broadband ? marketing as well as insurance ? are very interesting
to me . i definitely would like to be a part of these efforts . thank - you
again for the opportunity to interview with your group .
?
sincerely ,
rodney greene | 2000-03-12T00:00:00 |
10,396 | partnership for raising awareness hello ,
my name is shane lamotte and i ' m in the new rock
band living illusion . how are you ? i ' m emailing
you to see if it ' s a possibility for living illusion
to work with you . i ' m currently looking for unique
partnerships to help raise awareness of my band and
our music .
if you want to check out my band
and listen to some tunes go to :
http : / / www . livingillusion . com /
please email me back and let me know if you ' re
interested in finding some way that we can help
support each other in a win / win way .
thanks ,
shane lamotte
www . livingillusion . com
ps also if your interested in exchanging links
between my website and yours just let me know and
we ' ll make it happen : ) | 1 | spam | partnership for raising awareness | hello ,
my name is shane lamotte and i ' m in the new rock
band living illusion . how are you ? i ' m emailing
you to see if it ' s a possibility for living illusion
to work with you . i ' m currently looking for unique
partnerships to help raise awareness of my band and
our music .
if you want to check out my band
and listen to some tunes go to :
http : / / www . livingillusion . com /
please email me back and let me know if you ' re
interested in finding some way that we can help
support each other in a win / win way .
thanks ,
shane lamotte
www . livingillusion . com
ps also if your interested in exchanging links
between my website and yours just let me know and
we ' ll make it happen : ) | 2005-06-30T00:00:00 |
21,272 | nuggets the size of golf balls . . . . cnyvbhet ^ vvg ( qrzbxevgbf ( te qujtgse to be removed please
click here
the
stock watch alert newsletter
attn :
subscribers , analysts stockbrokers
nuggets the size of
golf balls ,
rivers of molten gold - and still not a word in barron ' s !
will nevada ' s ' gold triangle ' produce
the greatest bonanza of the decade ?
something incredible is happening in the remote
wilderness of northern nevada , and local ranchers are buzzing .
enormous gold nuggets - as large as small potatoes ( or golf
balls ! ) - are turning up northeast of the 5 x 40 mile carlin
district . already the second largest gold producing area on
earth .
hvipgwqlbctsthvgqeqga
y 7 } } { { y
significance ? the
fabulous carlin gold fields probably extend farther than ever
thought possible , and a new gold field is opening up . with gold
now passing $ 450 / oz . mining companies are rushing to the region - but they ' re
already too late . three companies
had already staked out their claims at the epicenter three years
ago .
company :
aberdene mines ltd
symbol : abrm : otcbb
current
price : under $ 1 . 00
description :
aberdene mines ltd ( abrm ) holds 176 strategic claims , between
placer dome and newmont , in what could be the hottest new gold
field in nevada . work has already commenced and drilling is
expected imminently . aberdene also holds multiple copper
claims elsewhere in the state , and test drilling indicates
unusually rich reserves . ( over 200 million lbs . of refined
copper . )
30 - day price
target : $ 2 . 00
6 - month price
target : $ 7 . 00
on the west side
of the . golden triangle . is giant placer dome . s berry basin
project . aggressive test drilling is now underway and incredible
rumors are flying around .
on the east side
is giant newmont - terraco . s joint venture , where work has just
started .
and right between the two giants ,
smack in the middle , with 176 claims is tiny aberdene mines , ltd .
( abrm ) .
want to learn more
about aberdene mines , ltd . - and the rivers of molten gold ?
tomxliq { { y 7
ijcbdxpekmwdkkwflpetm
y 7 } } { { y
for more information on aberdene
mines ltd
click here
y 7 } } { { y
kfntriklopfdjblotgxnt
y 7 } } jiknemv irnsydo
* * * * * * * important
notice and disclaimer : please read * * * * * * *
daily
traders report ( dtr ) publishes reports providing information on selected
companies . dtr is not a registered investment advisor or broker - dealer .
this report is provided as an information service only , and the statements
and opinions in this report should not be construed as an offer or solicitation
to buy or sell any security . dtr accepts no liability for any loss arising
from an investor ' s reliance on or use of this report . an investment
in abrm is considered to be highly speculative and should not be considered
unless a person can afford a complete loss of investment . e - direct has
received $ 27 , 500 . 00 from a non - affiliated third party , for the publication
and circulation of this report . this report contains forward - looking
statements , which involve risks , and uncertainties that may cause actual
results to differ materially from those set forth in the forward - looking
statements . copyright 2003 by dtr . all rights reserved . | 1 | spam | nuggets the size of golf balls . . . . cnyvbhet ^ vvg ( qrzbxevgbf ( te qujtgse | to be removed please
click here
the
stock watch alert newsletter
attn :
subscribers , analysts stockbrokers
nuggets the size of
golf balls ,
rivers of molten gold - and still not a word in barron ' s !
will nevada ' s ' gold triangle ' produce
the greatest bonanza of the decade ?
something incredible is happening in the remote
wilderness of northern nevada , and local ranchers are buzzing .
enormous gold nuggets - as large as small potatoes ( or golf
balls ! ) - are turning up northeast of the 5 x 40 mile carlin
district . already the second largest gold producing area on
earth .
hvipgwqlbctsthvgqeqga
y 7 } } { { y
significance ? the
fabulous carlin gold fields probably extend farther than ever
thought possible , and a new gold field is opening up . with gold
now passing $ 450 / oz . mining companies are rushing to the region - but they ' re
already too late . three companies
had already staked out their claims at the epicenter three years
ago .
company :
aberdene mines ltd
symbol : abrm : otcbb
current
price : under $ 1 . 00
description :
aberdene mines ltd ( abrm ) holds 176 strategic claims , between
placer dome and newmont , in what could be the hottest new gold
field in nevada . work has already commenced and drilling is
expected imminently . aberdene also holds multiple copper
claims elsewhere in the state , and test drilling indicates
unusually rich reserves . ( over 200 million lbs . of refined
copper . )
30 - day price
target : $ 2 . 00
6 - month price
target : $ 7 . 00
on the west side
of the . golden triangle . is giant placer dome . s berry basin
project . aggressive test drilling is now underway and incredible
rumors are flying around .
on the east side
is giant newmont - terraco . s joint venture , where work has just
started .
and right between the two giants ,
smack in the middle , with 176 claims is tiny aberdene mines , ltd .
( abrm ) .
want to learn more
about aberdene mines , ltd . - and the rivers of molten gold ?
tomxliq { { y 7
ijcbdxpekmwdkkwflpetm
y 7 } } { { y
for more information on aberdene
mines ltd
click here
y 7 } } { { y
kfntriklopfdjblotgxnt
y 7 } } jiknemv irnsydo
* * * * * * * important
notice and disclaimer : please read * * * * * * *
daily
traders report ( dtr ) publishes reports providing information on selected
companies . dtr is not a registered investment advisor or broker - dealer .
this report is provided as an information service only , and the statements
and opinions in this report should not be construed as an offer or solicitation
to buy or sell any security . dtr accepts no liability for any loss arising
from an investor ' s reliance on or use of this report . an investment
in abrm is considered to be highly speculative and should not be considered
unless a person can afford a complete loss of investment . e - direct has
received $ 27 , 500 . 00 from a non - affiliated third party , for the publication
and circulation of this report . this report contains forward - looking
statements , which involve risks , and uncertainties that may cause actual
results to differ materially from those set forth in the forward - looking
statements . copyright 2003 by dtr . all rights reserved .
| 2005-02-15T00:00:00 |
15,964 | m 6 v watch this shares trade ggts . pk is the stock code for gaming transactions inc . . a great code stands
for great game to success . perfect kind !
leading company in the booming industry . safe and swift moneyy for you to
make !
being a leading company in a booming industry , ggts ¡ ¯ promising future is
even consolidated with the new launch of its proprietary gaming portal .
have you ever played online games like keno , poker or blackjack ? ggts is a
leading provider of such popular online games and services ! try and you will
enjoy the user - friendly site !
it is really a great time for online marketers to expand their business
while the online entertainment market keeps growing .
experience the secure transaction system , professional system service and
friendly site design ; you will like it in no time !
visit our user - friendly site and have a try of those increasingly popular
online games ! and you will soon make up your mind to invest in us !
coming and says to them , " i have people ask me , ' what happened in florida ? '
i cannot really
he also says , " there ' s a lot of families out there , they ' re thinking
thereis applause , there are nods , there are some tears ; and then it ' s over
and arredondo is in the | 1 | spam | m 6 v watch this shares trade | ggts . pk is the stock code for gaming transactions inc . . a great code stands
for great game to success . perfect kind !
leading company in the booming industry . safe and swift moneyy for you to
make !
being a leading company in a booming industry , ggts ¡ ¯ promising future is
even consolidated with the new launch of its proprietary gaming portal .
have you ever played online games like keno , poker or blackjack ? ggts is a
leading provider of such popular online games and services ! try and you will
enjoy the user - friendly site !
it is really a great time for online marketers to expand their business
while the online entertainment market keeps growing .
experience the secure transaction system , professional system service and
friendly site design ; you will like it in no time !
visit our user - friendly site and have a try of those increasingly popular
online games ! and you will soon make up your mind to invest in us !
coming and says to them , " i have people ask me , ' what happened in florida ? '
i cannot really
he also says , " there ' s a lot of families out there , they ' re thinking
thereis applause , there are nods , there are some tears ; and then it ' s over
and arredondo is in the
| 2005-03-06T00:00:00 |
20,947 | longlasting erect " ions new clalls softtabs = lnstant rockhard erectlons
simply disolve half a plll under your tongue 10 min before action ,
for results that last all weekend .
normal retail is $ 19 / plll order from us today at the price of $ 3 . 59
not interested ( 0 pt - 0 ut ) | 1 | spam | longlasting erect " ions | new clalls softtabs = lnstant rockhard erectlons
simply disolve half a plll under your tongue 10 min before action ,
for results that last all weekend .
normal retail is $ 19 / plll order from us today at the price of $ 3 . 59
not interested ( 0 pt - 0 ut )
| 2005-01-11T00:00:00 |
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