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21,493 | daily shipping on all orders doctor recommended :
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| 2005-03-10T00:00:00 |
5,700 | re : vacation vince :
i just found out that it is friday , april 7 and not friday , march 31 st
that i want to take for vacation . is this alright ?
thanks !
shirley
vince j kaminski
03 / 08 / 2000 06 : 18 pm
to : shirley crenshaw / hou / ect @ ect
cc :
subject : re : vacation
shirley ,
no problem .
vince
shirley crenshaw
03 / 08 / 2000 03 : 56 pm
to : vince j kaminski / hou / ect @ ect
cc : kevin g moore / hou / ect @ ect , william smith / corp / enron @ enron
subject : vacation
vince :
i would like to take the following days as vacation :
wednesday , march 15 th
friday , march 31 st .
please let me know if this is ok with you .
thanks !
shirley | 0 | ham | re : vacation | vince :
i just found out that it is friday , april 7 and not friday , march 31 st
that i want to take for vacation . is this alright ?
thanks !
shirley
vince j kaminski
03 / 08 / 2000 06 : 18 pm
to : shirley crenshaw / hou / ect @ ect
cc :
subject : re : vacation
shirley ,
no problem .
vince
shirley crenshaw
03 / 08 / 2000 03 : 56 pm
to : vince j kaminski / hou / ect @ ect
cc : kevin g moore / hou / ect @ ect , william smith / corp / enron @ enron
subject : vacation
vince :
i would like to take the following days as vacation :
wednesday , march 15 th
friday , march 31 st .
please let me know if this is ok with you .
thanks !
shirley | 2000-03-09T00:00:00 |
25,937 | now you can diversify the acts in your bedroom ! cialis drug information : an online resource on cialis , a new fda approved impotence drug
we all have strength enough to endure the misfortunes of others .
blessed are those who can give without remembering , and take without forgetting .
doubt is not a pleasant condition , but certainty is absurd .
this hath not offended the king . | 1 | spam | now you can diversify the acts in your bedroom ! | cialis drug information : an online resource on cialis , a new fda approved impotence drug
we all have strength enough to endure the misfortunes of others .
blessed are those who can give without remembering , and take without forgetting .
doubt is not a pleasant condition , but certainty is absurd .
this hath not offended the king . | 2005-06-29T00:00:00 |
3,571 | re : tglo status sorry bout the first comment , did not totally understand . . . we will handle this via the oa process , where i ' m working with the oa group that will allow us a bucket of income or loss and we will run this through tom ' s p parker , megan ; boyt , eric ; farmer , daren j .
cc : bryan , gary ; pond , jim ; helton , susan ; roberts , linda
subject : re : tglo status
cost centers 11814 and 27117 are rolling to texas gas trading .
- - - - - original message - - - - -
from : coffey jr . , jim
sent : tuesday , october 30 , 2001 10 : 05 am
to : parker , megan ; boyt , eric ; farmer , daren j .
cc : bryan , gary ; pond , jim ; helton , susan ; east , laynie ; roberts , linda
subject : re : tglo status
megan
as i mentioned to you yesterday , it still looks like the volumes for gas delivered to tx glo do not have linda robert ' s origination fee deducted . do we need to execute a pma with txglo to deduct those volumes from the next delievery ?
also isn ' t there an entry that is missing in your file to capture the $ cost of gas for the gas delivered to txglo ? is that being captured in unify or is it being manually entered by gas accounting ?
darren
do we need to execute a seperate deal ticket for the origination deduct ?
susan / laynie
what busines unit are these cost centers rolling up to ( 11814 coffey jr . , jim
subject : tglo status
eric :
i reviewed the gas deals on franks ' spreadsheet and they agree with what is in sitara . as soon as i have the october gas numbers , i will forward them to you .
attached is a spreadsheet of the tglo deals booked to the gl to help you with our current settlement position . it is divided by debit / credit entries . when the sales are booked , a debit hits the customer account to create the open sale to apply the cash to and a credit hits the revenue account ( 40004000 third party ; 40005000 intercompany ) for the profit center .
below is a summary of where we are on the sale dollars to egm . i have already sent an email to risk to update the demand fees for the prior months and to book aug and sept crude . i will wait for the go ahead from frank before i final them to the gl . let me know if you have any questions .
megan
status of sales to egm
cleared invoices $ 3 , 905 , 963 . 20
open invoices $ 1 , 177 , 587 . 60
to be booked $ 3 , 093 , 424 . 22
$ 8 , 176 , 975 . 55
> | 0 | ham | re : tglo status | sorry bout the first comment , did not totally understand . . . we will handle this via the oa process , where i ' m working with the oa group that will allow us a bucket of income or loss and we will run this through tom ' s p parker , megan ; boyt , eric ; farmer , daren j .
cc : bryan , gary ; pond , jim ; helton , susan ; roberts , linda
subject : re : tglo status
cost centers 11814 and 27117 are rolling to texas gas trading .
- - - - - original message - - - - -
from : coffey jr . , jim
sent : tuesday , october 30 , 2001 10 : 05 am
to : parker , megan ; boyt , eric ; farmer , daren j .
cc : bryan , gary ; pond , jim ; helton , susan ; east , laynie ; roberts , linda
subject : re : tglo status
megan
as i mentioned to you yesterday , it still looks like the volumes for gas delivered to tx glo do not have linda robert ' s origination fee deducted . do we need to execute a pma with txglo to deduct those volumes from the next delievery ?
also isn ' t there an entry that is missing in your file to capture the $ cost of gas for the gas delivered to txglo ? is that being captured in unify or is it being manually entered by gas accounting ?
darren
do we need to execute a seperate deal ticket for the origination deduct ?
susan / laynie
what busines unit are these cost centers rolling up to ( 11814 coffey jr . , jim
subject : tglo status
eric :
i reviewed the gas deals on franks ' spreadsheet and they agree with what is in sitara . as soon as i have the october gas numbers , i will forward them to you .
attached is a spreadsheet of the tglo deals booked to the gl to help you with our current settlement position . it is divided by debit / credit entries . when the sales are booked , a debit hits the customer account to create the open sale to apply the cash to and a credit hits the revenue account ( 40004000 third party ; 40005000 intercompany ) for the profit center .
below is a summary of where we are on the sale dollars to egm . i have already sent an email to risk to update the demand fees for the prior months and to book aug and sept crude . i will wait for the go ahead from frank before i final them to the gl . let me know if you have any questions .
megan
status of sales to egm
cleared invoices $ 3 , 905 , 963 . 20
open invoices $ 1 , 177 , 587 . 60
to be booked $ 3 , 093 , 424 . 22
$ 8 , 176 , 975 . 55
> | 2001-10-31T00:00:00 |
131 | hl & p flow here are the most recent numbers . | 0 | ham | hl & p flow | here are the most recent numbers . | 2000-01-12T00:00:00 |
12,080 | renewal notice for your domain name ( s ) dear register . com subscriber ,
the domain name ( s ) listed below will expire on :
wed , aug 08 , 2001 .
register . com offers the following renewal features :
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you renew your domain name ( s ) now using our easy quick renew
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the appropriate link ( which may be broken into two lines ) into
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thank you for using register . com , the first step on the web ( tm ) .
customer support
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http : / / www . register . com
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highlight the url with your cursor . once you have highlighted
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open an internet browser window and click in the address or
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notification id : 1221927 | 0 | ham | renewal notice for your domain name ( s ) | dear register . com subscriber ,
the domain name ( s ) listed below will expire on :
wed , aug 08 , 2001 .
register . com offers the following renewal features :
1 - quick renew , the easy renewal feature you can use at any time
or
2 - saferenew ( tm ) , our automatic renewal service . the domain
names below may be enrolled in this feature . see
below for more information .
in order to protect your online identity , it is recommended that
you renew your domain name ( s ) now using our easy quick renew
feature . click on the link ( s ) below or copy and paste
the appropriate link ( which may be broken into two lines ) into
the address or location field of your web browser for each
domain name you would like to renew :
expiration date : wed , aug 08 , 2001
mousemillions . com
mousemaniacs . com
the domains above are enrolled in saferenew automatic renewal
service . this means that upon expiration , we will automatically
renew these domain name ( s ) and charge the credit card on file
for the domain name ( s ) for one additional year of registration at
$ 34 . 99 per name . this service will ensure
that these domain names are secured in the registry for one
additional year from the current expiration date .
to verify that your billing and credit card information is current ,
please log into domain manager at http : / / mydomain . register . com
and click on the billing contact link .
if you do not wish to use register . com ' s saferenew automatic
renewal service , you may either renew your name ( s ) now through
quick renew , or visit the following url to log in to
disable the service :
questions ? for more information on renewing your
domain name ( s ) through register . com , please visit :
http : / / www . register . com / faq / renewal . cgi
to contact a customer support representative online ,
please visit :
or call :
toll free in the u . s . and canada : ( 877 ) 209 - 1434
outside the u . s . and canada : + 1 ( 212 ) 798 - 9277
all domain name registrations and renewals are subject to the
terms and conditions of our services agreement , which can be
found at :
thank you for using register . com , the first step on the web ( tm ) .
customer support
register . com , inc .
http : / / www . register . com
- copy and pasting instructions -
highlight the url with your cursor . once you have highlighted
the url , hit ctrl + c ( for mac " open apple " + c ) to copy the
highlighted area .
open an internet browser window and click in the address or
location field . hit ctrl + v ( for mac " open apple " + v ) to paste
the url into the address field . if necessary , repeat this
process with the second line of the url . please be sure to
delete spaces if there are any in the url - otherwise
you will not be able to connect to the proper page .
once you have entered and looked over the url , hit the ' enter '
or ' return ' key on your keyboard . the web page displayed will
allow you to renew your domain name ( s ) .
notification id : 1221927 | 2001-07-04T00:00:00 |
5,475 | credit model status update bill ,
i am forwarding a memo from vincent tang about the new credit model .
english may be imperfect but the message is clear .
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 10 / 2000
02 : 31 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
vincent tang
02 / 08 / 2000 02 : 43 pm
to : vince j kaminski / hou / ect @ ect , grant masson / hou / ect @ ect , tanya
tamarchenko / hou / ect @ ect
cc :
subject : credit model status update | 0 | ham | credit model status update | bill ,
i am forwarding a memo from vincent tang about the new credit model .
english may be imperfect but the message is clear .
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 10 / 2000
02 : 31 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
vincent tang
02 / 08 / 2000 02 : 43 pm
to : vince j kaminski / hou / ect @ ect , grant masson / hou / ect @ ect , tanya
tamarchenko / hou / ect @ ect
cc :
subject : credit model status update | 2000-02-10T00:00:00 |
17,479 | start date : 12 / 27 / 01 ; hourahead hour : 8 ; start date : 12 / 27 / 01 ; hourahead hour : 8 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2001122708 . txt | 0 | ham | start date : 12 / 27 / 01 ; hourahead hour : 8 ; | start date : 12 / 27 / 01 ; hourahead hour : 8 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2001122708 . txt | 2001-12-27T00:00:00 |
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| 2005-02-21T00:00:00 |
7,511 | request submitted : access request for tony . harris @ enron . com you have received this email because you are listed as an alternate data
approver . please click
approval to review and act upon this request .
request id : 000000000006452
approver : stinson . gibner @ enron . com
request create date : 11 / 2 / 00 1 : 12 : 58 pm
requested for : tony . harris @ enron . com
resource name : \ \ enehou \ houston \ common \ research - [ read ]
resource type : directory | 0 | ham | request submitted : access request for tony . harris @ enron . com | you have received this email because you are listed as an alternate data
approver . please click
approval to review and act upon this request .
request id : 000000000006452
approver : stinson . gibner @ enron . com
request create date : 11 / 2 / 00 1 : 12 : 58 pm
requested for : tony . harris @ enron . com
resource name : \ \ enehou \ houston \ common \ research - [ read ]
resource type : directory | 2000-11-02T00:00:00 |
23,764 | organizational announcement we are pleased to announce the following promotions within enron net works .
these promotions will be effective february 1 , 2001 . we would like to thank
these individuals for their past contributions and recognize their
instrumental roles in the growth and success of the organization . please
join us in congratulating the following employees , and wishing them continued
success with enron .
to managing director
sally beck
to vice president to senior specialist
david forster luis aybar
david samuels matthew burleigh
jay webb heather busby
stephen ( steve ) harrington
to senior director wei hu
scott mills aneela charania
kevin sweeney diane ellstrom
david rae
to director shifali sharma
michael ( mike ) croucher gang ( george ) ji
rahil jafry jorge mancero
savita puthigai kirti patel
ganapathy ramesh virendra patel
drew ries raleigh ( trey ) rhodes
stuart reed mark symms
thresa allen carlos uribe
jeffrey gossett ye wang
kim theriot amelia alland
stacey white cynthia balfour - flanagan
stacey brewer
to manager marlene hilliard
nilay basu dawn kenne
frank coles errol mclaughin
mark davidson kevin meredith
daniel ( dan ) dietrich meredith mitchell
colin tonks thien - huong ngo
danielle marcinkowski brian palmer
kari oquinn mark schrab
tai nguyen stephanie sever
cornelio pua christopher spears
amy spoede tara sweitzer
gerald ( jake ) staffel sabrae zajac
vernell vallejo
jing fang ( jennifer ) zhou to specialist
christopher abel robert henry
david baumbach benjamin ( ben ) jordan
rebecca ford nikolay kraltchev
ngiam ( jeremy ) wong grace warren
matthew brown kenneth ( kenny ) lim
clara carrington victoria sorkina
richard cross patrick marchand
john swinney sumit shah
maya beyhum kori loibl
patricia sullivan bruce mills
patricia spence mathew motsinger
dimitri taylor bernice rodriquez
darron giron brandi wachtendorf
kristen hanson patryk wlodarski
larry hunter
william kasemervisz to staff
kam keiser norma yeverino
monica lande geralynn gosnell
david maxwell judith walters
melissa ratnala richard miley
joan winfrey
technical consultant guy freshwater
xiaozhuo ( sean ) yang brent storey
show - yien ( show ) lee stuart thom
nai - chung ( jesse ) wang jonathan white
jin yu
to executive assistant
associate to manager peggy mccurley
jason althaus tammie schoppe
cheryl ingstad
ross mesquita to administrative coordinator
leonardo pacheco heather choate
to administrative assistant i to senior clerk
ali de hoyos matthew davies
demonica lipscomb
to senior assistant mark pilkington
barbara lewis daniela de lisi
sarah knott tresea parker
thais hensch angela barnett
laura vargas | 0 | ham | organizational announcement | we are pleased to announce the following promotions within enron net works .
these promotions will be effective february 1 , 2001 . we would like to thank
these individuals for their past contributions and recognize their
instrumental roles in the growth and success of the organization . please
join us in congratulating the following employees , and wishing them continued
success with enron .
to managing director
sally beck
to vice president to senior specialist
david forster luis aybar
david samuels matthew burleigh
jay webb heather busby
stephen ( steve ) harrington
to senior director wei hu
scott mills aneela charania
kevin sweeney diane ellstrom
david rae
to director shifali sharma
michael ( mike ) croucher gang ( george ) ji
rahil jafry jorge mancero
savita puthigai kirti patel
ganapathy ramesh virendra patel
drew ries raleigh ( trey ) rhodes
stuart reed mark symms
thresa allen carlos uribe
jeffrey gossett ye wang
kim theriot amelia alland
stacey white cynthia balfour - flanagan
stacey brewer
to manager marlene hilliard
nilay basu dawn kenne
frank coles errol mclaughin
mark davidson kevin meredith
daniel ( dan ) dietrich meredith mitchell
colin tonks thien - huong ngo
danielle marcinkowski brian palmer
kari oquinn mark schrab
tai nguyen stephanie sever
cornelio pua christopher spears
amy spoede tara sweitzer
gerald ( jake ) staffel sabrae zajac
vernell vallejo
jing fang ( jennifer ) zhou to specialist
christopher abel robert henry
david baumbach benjamin ( ben ) jordan
rebecca ford nikolay kraltchev
ngiam ( jeremy ) wong grace warren
matthew brown kenneth ( kenny ) lim
clara carrington victoria sorkina
richard cross patrick marchand
john swinney sumit shah
maya beyhum kori loibl
patricia sullivan bruce mills
patricia spence mathew motsinger
dimitri taylor bernice rodriquez
darron giron brandi wachtendorf
kristen hanson patryk wlodarski
larry hunter
william kasemervisz to staff
kam keiser norma yeverino
monica lande geralynn gosnell
david maxwell judith walters
melissa ratnala richard miley
joan winfrey
technical consultant guy freshwater
xiaozhuo ( sean ) yang brent storey
show - yien ( show ) lee stuart thom
nai - chung ( jesse ) wang jonathan white
jin yu
to executive assistant
associate to manager peggy mccurley
jason althaus tammie schoppe
cheryl ingstad
ross mesquita to administrative coordinator
leonardo pacheco heather choate
to administrative assistant i to senior clerk
ali de hoyos matthew davies
demonica lipscomb
to senior assistant mark pilkington
barbara lewis daniela de lisi
sarah knott tresea parker
thais hensch angela barnett
laura vargas | 2001-01-30T00:00:00 |
14,927 | mike driscoll - hot shot analyst is . . . . outta here ! i have been officially smoked . it ' s me and swerzbin on the term desk for now . | 0 | ham | mike driscoll - hot shot analyst | is . . . . outta here ! i have been officially smoked . it ' s me and swerzbin on the term desk for now . | 2002-01-30T00:00:00 |
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http : / / r - x - r - x . com / ? 1663800
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descendent deject casteth refectory serum montague jowl ashen mulish arcane blemish anybody ' d apogee dapple asheville deregulate propionate dominant schoolgirl bonn smell eighty clobber holeable suicidal vernon inelegant interrogatory police descendent hindsight combustion honorarium whelp mycobacteria signor chime | 2004-12-23T00:00:00 |
23,372 | global operations controller forum forgot to add you to the list . . .
pt
- - - - - - - - - - - - - - - - - - - - - - forwarded by patti thompson / hou / ect on 10 / 11 / 2000
06 : 00 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
enron north america corp .
from : sally beck 10 / 10 / 2000 05 : 58 pm
sent by : patti thompson
to : mike jordan / lon / ect @ ect , james new / lon / ect @ ect , mike
wellings / lon / ect @ ect , coralie evans / lon / ect @ ect , robert yeo / lon / ect @ ect , paul
d ' arcy / lon / ect @ ect , david a wall / risk mgmt / lon / ect @ ect , andrew
cornfield / lon / ect @ ect , cindy horn / lon / ect @ ect , jeffrey c gossett / hou / ect @ ect ,
leslie reeves / hou / ect @ ect , bob m hall / na / enron @ enron , stacey w
white / hou / ect @ ect , peggy hedstrom / cal / ect @ ect , brenda f herod / hou / ect @ ect ,
brent a price / hou / ect @ ect , scott earnest / hou / ect @ ect , d todd
hall / hou / ect @ ect , sheila glover / hou / ect @ ect , kevin sweeney / hou / ect @ ect ,
fernley dyson / lon / ect @ ect , heidi mason / enron _ development @ enron _ development ,
jan - erland bekeng / ap / enron @ enron , scott mills / hou / ect @ ect , barry pearce / enron
communications @ enron communications , kristin albrecht / enron
communications @ enron communications , wanda curry / hou / ect @ ect , meredith m
eggleston / hou / ees @ ees , shona wilson / na / enron @ enron , eugenio
perez / hou / ect @ ect , michael e moscoso / hou / ect @ ect , neil tarling / enron
communications @ enron communications
cc :
subject : global operations controller forum
please fill in the following information and email ( or fax 713 - 345 - 8100 ) to
me as soon as possible . ( the same day would be great ! )
please select dinner entr , e for sunday , oct 22 pan seared medallions of black
angus tenderloin , or
grilled chicken breast w / artichoke , mushrooms & light herb sauce
hotel reservation : both sunday and monday nights
sunday night only
monday night only
extend for additional nights
smoking or non - smoking room
flight information : date of arrival
airline / flight number
houston arrival time
shirt size : women ' s or men ' s size
small , med , large , x - large , xx - large
thanks ,
patti x 39106 | 0 | ham | global operations controller forum | forgot to add you to the list . . .
pt
- - - - - - - - - - - - - - - - - - - - - - forwarded by patti thompson / hou / ect on 10 / 11 / 2000
06 : 00 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
enron north america corp .
from : sally beck 10 / 10 / 2000 05 : 58 pm
sent by : patti thompson
to : mike jordan / lon / ect @ ect , james new / lon / ect @ ect , mike
wellings / lon / ect @ ect , coralie evans / lon / ect @ ect , robert yeo / lon / ect @ ect , paul
d ' arcy / lon / ect @ ect , david a wall / risk mgmt / lon / ect @ ect , andrew
cornfield / lon / ect @ ect , cindy horn / lon / ect @ ect , jeffrey c gossett / hou / ect @ ect ,
leslie reeves / hou / ect @ ect , bob m hall / na / enron @ enron , stacey w
white / hou / ect @ ect , peggy hedstrom / cal / ect @ ect , brenda f herod / hou / ect @ ect ,
brent a price / hou / ect @ ect , scott earnest / hou / ect @ ect , d todd
hall / hou / ect @ ect , sheila glover / hou / ect @ ect , kevin sweeney / hou / ect @ ect ,
fernley dyson / lon / ect @ ect , heidi mason / enron _ development @ enron _ development ,
jan - erland bekeng / ap / enron @ enron , scott mills / hou / ect @ ect , barry pearce / enron
communications @ enron communications , kristin albrecht / enron
communications @ enron communications , wanda curry / hou / ect @ ect , meredith m
eggleston / hou / ees @ ees , shona wilson / na / enron @ enron , eugenio
perez / hou / ect @ ect , michael e moscoso / hou / ect @ ect , neil tarling / enron
communications @ enron communications
cc :
subject : global operations controller forum
please fill in the following information and email ( or fax 713 - 345 - 8100 ) to
me as soon as possible . ( the same day would be great ! )
please select dinner entr , e for sunday , oct 22 pan seared medallions of black
angus tenderloin , or
grilled chicken breast w / artichoke , mushrooms & light herb sauce
hotel reservation : both sunday and monday nights
sunday night only
monday night only
extend for additional nights
smoking or non - smoking room
flight information : date of arrival
airline / flight number
houston arrival time
shirt size : women ' s or men ' s size
small , med , large , x - large , xx - large
thanks ,
patti x 39106 | 2000-10-10T00:00:00 |
23,139 | timeline for global standards & global reporting implementation dear mike ,
as we discussed , you will be heavily involved in constructing and
implementing global standards and global reporting . this is a strategic
initative requested by the commercial teams as well as causey . this
absolutely must be in place by the end of the year .
essentially , there are three main areas :
develop global ( minimum ) standards
develop & implement exception reporting to these standards
develop & implement global operation reporting
i have put together milestones for us to work by in these projects :
global operating performance
this will be the monthly reporting package . currently we do this for n .
america . we need to establish a reporting format for the products / locations
currently not included in this package . the package is not intended to be
incorporated into the current package , but use it as a guide to create our
own .
timeline :
aug 31 - finalize what will be reported
sept 15 - finalize reporting lines ( who we are getting this info from @ each
location and who is receiving and consolidating it )
sept 30 - close of business for sept 30 we should have our first consolidated
reporting package to report
oct 30 - collect feedback from lst reporting package and redesign reporting
if necessary ( continual improvements )
global standards time line ( daily reporting )
this will be the exception reporting based on the global standards we
create . this will be a daily reporting package .
timeline :
august 31 - finalize global standards into 2 buckets
quantitative ( to be reported daily )
qualitative ( to be reviewed within doorstep reviews )
sept 15 - establish measurable targets for quantitative standards
sept 30 - finalize reporting format for quantitative reporting lines ( who do
we get it from , who consolidates it , who sees it , how often )
nov 30 - have reporting implemented - start reporting
regards
shona
ps - i ' m also working on developing a monthly reporting summary for each
office concerning what the latest developements are , much like they have in
london . i have maria working on developing a list of all offices . | 0 | ham | timeline for global standards & global reporting implementation | dear mike ,
as we discussed , you will be heavily involved in constructing and
implementing global standards and global reporting . this is a strategic
initative requested by the commercial teams as well as causey . this
absolutely must be in place by the end of the year .
essentially , there are three main areas :
develop global ( minimum ) standards
develop & implement exception reporting to these standards
develop & implement global operation reporting
i have put together milestones for us to work by in these projects :
global operating performance
this will be the monthly reporting package . currently we do this for n .
america . we need to establish a reporting format for the products / locations
currently not included in this package . the package is not intended to be
incorporated into the current package , but use it as a guide to create our
own .
timeline :
aug 31 - finalize what will be reported
sept 15 - finalize reporting lines ( who we are getting this info from @ each
location and who is receiving and consolidating it )
sept 30 - close of business for sept 30 we should have our first consolidated
reporting package to report
oct 30 - collect feedback from lst reporting package and redesign reporting
if necessary ( continual improvements )
global standards time line ( daily reporting )
this will be the exception reporting based on the global standards we
create . this will be a daily reporting package .
timeline :
august 31 - finalize global standards into 2 buckets
quantitative ( to be reported daily )
qualitative ( to be reviewed within doorstep reviews )
sept 15 - establish measurable targets for quantitative standards
sept 30 - finalize reporting format for quantitative reporting lines ( who do
we get it from , who consolidates it , who sees it , how often )
nov 30 - have reporting implemented - start reporting
regards
shona
ps - i ' m also working on developing a monthly reporting summary for each
office concerning what the latest developements are , much like they have in
london . i have maria working on developing a list of all offices . | 2000-08-08T00:00:00 |
14,302 | enrononline : briton who took trading online louise ,
did you know that you had two children ? ? ? ?
- dan
- - - - - original message - - - - -
from : djcustomclips @ djinteractive . com
[ mailto : djcustomclips @ djinteractive . com ]
sent : friday , december 07 , 2001 8 : 40 am
to : 303435 @ mailman . enron . com
subject : enrononline : briton who took trading online
business
briton who took trading online
rupert steiner
12 / 02 / 2001
sunday times - london
final 1
5
( copyright times newspapers ltd , 2001 )
enron ' s fastest - rising star was a british mother - of - two . anonymous
in the uk , louise kitchen , the 32 - year - old former powergen manager ,
made her name with the audacious manner in which she set up the power
company ' s online trading arm , writes rupert steiner . it paid off and
her story is used as a case study in management schools throughout
america .
in just seven months , kitchen , president and chief operating
officer of enrononline , enabled the web - based trading of natural gas
in north america after developing the idea and progressing it to days
before launch without seeking board approval .
she joined the company in london in the spring of 1994 and was
responsible for building its natural gas trading business in europe .
a self - confessed loudmouth , she established a reputation for being
larger than life . she is certainly no shrinking violet - her
colleagues describe her as blunt , pushy and inspiring .
her career took off one april morning in 1999 . she was in a taxi
on her way to heathrow airport , bound for a large gas - processing
plant in teesside .
john sherriff , managing director of enron europe , and greg
whalley , enron ' s chief gas trader in houston , called and asked if she
would prepare some research on trading gas contracts online .
she spotted the opportunity and set out to do more than just
review enron ' s options for online trading . she enlisted the support
of enron ' s sceptical top traders and scoured the company for software
developers and other experts .
her volunteers worked nights and weekends while carrying on with
their regular jobs . kitchen did not attempt to get corporate approval
or seek permission to change the way the company traded , she simply
presented the project as a fait accompli a few weeks before it went
live .
it was a huge risk but one which was credited with the remaking of
the company . by mid - summer 2000 it had revolutionised the energy -
trading business , notching up more than $ 1 billion in average daily
trading transactions and lifting enron ' s sales by 75 % in the second
quarter . it raised enron ' s market value by billions of dollars .
she has been promoted seven times in five years and is listed in
fortune league table of the world ' s most powerful women . her future
now looks uncertain .
folder name : enrononline
relevance score on scale of 100 : 83
to review or revise your folder , visit http : / / www . djinteractive . com or contact dow jones customer service by e - mail at custom . news @ bis . dowjones . com or by phone at 800 - 369 - 7466 . ( outside the u . s . and canada , call 609 - 452 - 1511 or contact your local sales representative . )
copyright ( c ) 2001 dow jones & company , inc . all rights reserved | 0 | ham | enrononline : briton who took trading online | louise ,
did you know that you had two children ? ? ? ?
- dan
- - - - - original message - - - - -
from : djcustomclips @ djinteractive . com
[ mailto : djcustomclips @ djinteractive . com ]
sent : friday , december 07 , 2001 8 : 40 am
to : 303435 @ mailman . enron . com
subject : enrononline : briton who took trading online
business
briton who took trading online
rupert steiner
12 / 02 / 2001
sunday times - london
final 1
5
( copyright times newspapers ltd , 2001 )
enron ' s fastest - rising star was a british mother - of - two . anonymous
in the uk , louise kitchen , the 32 - year - old former powergen manager ,
made her name with the audacious manner in which she set up the power
company ' s online trading arm , writes rupert steiner . it paid off and
her story is used as a case study in management schools throughout
america .
in just seven months , kitchen , president and chief operating
officer of enrononline , enabled the web - based trading of natural gas
in north america after developing the idea and progressing it to days
before launch without seeking board approval .
she joined the company in london in the spring of 1994 and was
responsible for building its natural gas trading business in europe .
a self - confessed loudmouth , she established a reputation for being
larger than life . she is certainly no shrinking violet - her
colleagues describe her as blunt , pushy and inspiring .
her career took off one april morning in 1999 . she was in a taxi
on her way to heathrow airport , bound for a large gas - processing
plant in teesside .
john sherriff , managing director of enron europe , and greg
whalley , enron ' s chief gas trader in houston , called and asked if she
would prepare some research on trading gas contracts online .
she spotted the opportunity and set out to do more than just
review enron ' s options for online trading . she enlisted the support
of enron ' s sceptical top traders and scoured the company for software
developers and other experts .
her volunteers worked nights and weekends while carrying on with
their regular jobs . kitchen did not attempt to get corporate approval
or seek permission to change the way the company traded , she simply
presented the project as a fait accompli a few weeks before it went
live .
it was a huge risk but one which was credited with the remaking of
the company . by mid - summer 2000 it had revolutionised the energy -
trading business , notching up more than $ 1 billion in average daily
trading transactions and lifting enron ' s sales by 75 % in the second
quarter . it raised enron ' s market value by billions of dollars .
she has been promoted seven times in five years and is listed in
fortune league table of the world ' s most powerful women . her future
now looks uncertain .
folder name : enrononline
relevance score on scale of 100 : 83
to review or revise your folder , visit http : / / www . djinteractive . com or contact dow jones customer service by e - mail at custom . news @ bis . dowjones . com or by phone at 800 - 369 - 7466 . ( outside the u . s . and canada , call 609 - 452 - 1511 or contact your local sales representative . )
copyright ( c ) 2001 dow jones & company , inc . all rights reserved | 2001-12-07T00:00:00 |
19,716 | - want a new laptop ? - get one free ! | 1 | spam | - want a new laptop ? - get one free ! | 2004-09-01T00:00:00 |
|
12,257 | re : mhi 501 f disposition planning louise ,
if you can wait a week or so , we can have the first of a regularly - scheduled update / report .
accounting ( jody pierce ) is getting the book set up consistent with the memo . the contracts have been copied up to portland and sf . in a week or so , we will have a report that shows balance and some qualitative metrics , i . e . who we are talking with , indicative bids , project opportunities , etc . for example , we included the mitsubishis in the roseville permit application which is being filed on july 31 . we are passing on the pge turbine for now - they seem content to try to sell on their own .
regards ,
chris calger
503 - 464 - 3735
- - - - - original message - - - - -
from : kitchen , louise
sent : friday , july 20 , 2001 6 : 16 am
to : wiggs , brett ; jacoby , ben ; calger , christopher f .
subject : fw : mhi 501 f disposition planning
all valid points - i wouldn ' t mind an update on where we are on the turbine book ( including yesterday ' s good news ) .
thanks
louise
- - - - - original message - - - - -
from : coleman , mike
sent : thursday , july 19 , 2001 5 : 50 pm
to : wiggs , brett ; jacoby , ben ; calger , christopher f .
cc : virgo , robert ; mays , wayne ; tapscott , ron ; fairley , david ; golden , bruce ; kitchen , louise
subject : mhi 501 f disposition planning
with the shipment of two of the four units from mhi scheduled for august and no viable place to ship them , our exposure to increasing costs associated with these units will start to climb quickly . we need to move agressively to minimize our risk in this position .
based on discussion with a number of people , i would strongly recommend that we make full efforts to sell units 1 and 2 as quickly as possible . john garrison has identified a number of potential buyers , and i believe that brett wiggs in in communication with one or more of them as we speak .
we should inform mhi that we will now target unit 3 for fort pierce , given the slowdown in the fort pierce schedule and the inability to get further reductions in pricing from mhi on unit 1 . if we also drop the dual fuel requirement for fort pierce , we should provide some project savings to that project . prior to informing mhi , we shoud have jackson chaeng status the auxiliaries for unit 3 so we have a basis for understanding any appropriate cancellation costs .
i also recommend that we tentatively target unit 4 for tallahassee , unless sale of units 1 and 2 were contingent on delivering a 3 rd unit to a buyer . in the next three weeks we will review tallahassee versus best turbine fit and availability of alternative equipment to determine if we want to continue to target unit 4 to that project .
finally , mhi has requested that we allow an extention of ship date for unit 1 from august 2 to the end of august . i think it is in our best interests to agree to that directly , given that we can ' t tell them where to ship it and would immediately face claims for storage costs if we insist on an august 2 ship date . we should ask that they forgo storage costs on auxiliaries until the later ship date .
probably everyone knows some of this , and some know all of this , but hopefully the overall picture is of value .
thanks !
mike coleman | 0 | ham | re : mhi 501 f disposition planning | louise ,
if you can wait a week or so , we can have the first of a regularly - scheduled update / report .
accounting ( jody pierce ) is getting the book set up consistent with the memo . the contracts have been copied up to portland and sf . in a week or so , we will have a report that shows balance and some qualitative metrics , i . e . who we are talking with , indicative bids , project opportunities , etc . for example , we included the mitsubishis in the roseville permit application which is being filed on july 31 . we are passing on the pge turbine for now - they seem content to try to sell on their own .
regards ,
chris calger
503 - 464 - 3735
- - - - - original message - - - - -
from : kitchen , louise
sent : friday , july 20 , 2001 6 : 16 am
to : wiggs , brett ; jacoby , ben ; calger , christopher f .
subject : fw : mhi 501 f disposition planning
all valid points - i wouldn ' t mind an update on where we are on the turbine book ( including yesterday ' s good news ) .
thanks
louise
- - - - - original message - - - - -
from : coleman , mike
sent : thursday , july 19 , 2001 5 : 50 pm
to : wiggs , brett ; jacoby , ben ; calger , christopher f .
cc : virgo , robert ; mays , wayne ; tapscott , ron ; fairley , david ; golden , bruce ; kitchen , louise
subject : mhi 501 f disposition planning
with the shipment of two of the four units from mhi scheduled for august and no viable place to ship them , our exposure to increasing costs associated with these units will start to climb quickly . we need to move agressively to minimize our risk in this position .
based on discussion with a number of people , i would strongly recommend that we make full efforts to sell units 1 and 2 as quickly as possible . john garrison has identified a number of potential buyers , and i believe that brett wiggs in in communication with one or more of them as we speak .
we should inform mhi that we will now target unit 3 for fort pierce , given the slowdown in the fort pierce schedule and the inability to get further reductions in pricing from mhi on unit 1 . if we also drop the dual fuel requirement for fort pierce , we should provide some project savings to that project . prior to informing mhi , we shoud have jackson chaeng status the auxiliaries for unit 3 so we have a basis for understanding any appropriate cancellation costs .
i also recommend that we tentatively target unit 4 for tallahassee , unless sale of units 1 and 2 were contingent on delivering a 3 rd unit to a buyer . in the next three weeks we will review tallahassee versus best turbine fit and availability of alternative equipment to determine if we want to continue to target unit 4 to that project .
finally , mhi has requested that we allow an extention of ship date for unit 1 from august 2 to the end of august . i think it is in our best interests to agree to that directly , given that we can ' t tell them where to ship it and would immediately face claims for storage costs if we insist on an august 2 ship date . we should ask that they forgo storage costs on auxiliaries until the later ship date .
probably everyone knows some of this , and some know all of this , but hopefully the overall picture is of value .
thanks !
mike coleman | 2001-07-20T00:00:00 |
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26,684 | uae enquiries dear sirs ,
emiratestenders provides you with the latest business information on projects , tenders , enquiries and business deals in the united arab emirates .
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emiratestenders provides members free access to the most comprehensive and detailed real time project and tender database with many benefits including :
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free e - mail notification on preferred areas of business and useful local business news .
easy to use search options .
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a newsletter with information on the latest business activities in the uae .
free consultancy on local business requirements in the territory .
the people at emiratestenders have indepth knowledge and experience about the local market and can assist you to develop your business in the united arab emirates . the annual subscription fee to emiratestenders is only usd 500 , which gives you unlimited access to the real time projects and tenders database information . click here to see a sample page .
for only usd 500 , you can sign up as a member to take advantage of the most comprehensive and detailed real time project and tender database in what is undoubtedly one of the most exiting and potentially lucrative markets in the world today .
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yours faithfully , sales and support teamtel : + 971 2 - 6348495 fax : + 971 2 - 6316465
you are receiving this e - mail because you have opted - in to receive special offers for business development or one of it ' s marketing partners . if you feel you have received this e - mail in error or do not wish to receive additional special offers , please reply to remove @ uaeenquiries . com with a " remove " subject in the email . | 1 | spam | uae enquiries | dear sirs ,
emiratestenders provides you with the latest business information on projects , tenders , enquiries and business deals in the united arab emirates .
we will keep you informed about all business activities in abu dhabi , dubai , sharjah , al ain & northern emirates in areas such as construction , oilfield development , telecommunication , information technology , medical , power generation , roads & bridges & more .
emiratestenders provides members free access to the most comprehensive and detailed real time project and tender database with many benefits including :
complete access to our detailed real time database on all projects , tenders and enquiries in united arab emirates . ( details provided are : project number , project name , territory , client , client address , description , invitation date , post date , closing date , tender cost , budget , contractors , consultants , tender categories , status , remarks )
free e - mail notification on preferred areas of business and useful local business news .
easy to use search options .
archive of over 8 , 000 projects and tenders for market research and analysis which is updated on a daily basis .
a newsletter with information on the latest business activities in the uae .
free consultancy on local business requirements in the territory .
the people at emiratestenders have indepth knowledge and experience about the local market and can assist you to develop your business in the united arab emirates . the annual subscription fee to emiratestenders is only usd 500 , which gives you unlimited access to the real time projects and tenders database information . click here to see a sample page .
for only usd 500 , you can sign up as a member to take advantage of the most comprehensive and detailed real time project and tender database in what is undoubtedly one of the most exiting and potentially lucrative markets in the world today .
please visit http : / / www . uaeenquiries . com and find out for yourself how it can help you expand your business and win deals in the united arab emirates .
yours faithfully , sales and support teamtel : + 971 2 - 6348495 fax : + 971 2 - 6316465
you are receiving this e - mail because you have opted - in to receive special offers for business development or one of it ' s marketing partners . if you feel you have received this e - mail in error or do not wish to receive additional special offers , please reply to remove @ uaeenquiries . com with a " remove " subject in the email . | 2005-07-06T00:00:00 |
2,053 | fw : gop action plan : what you can do ! - - - - - original message - - - - -
from : alex fagen [ mailto : alex @ fagens . net ]
sent : wednesday , november 15 , 2000 9 : 56 pm
to : undisclosed - recipient : @ rad 3 . 1 stup . com ;
subject : fw : gop action plan : what you can do !
- - - - - original message - - - - -
from : kenneth r . pybus
to :
sent : wednesday , november 15 , 2000 9 : 28 am
subject : fwd : gop action plan : what you can do !
> i got this from paul sperry at worldnetdaily
>
>
> >
> > i don ' t know who joe morris is , but this sounds like a plan ! ( note that
> > this has been circulating since last thursday . )
> > - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > united republican fund of illinois
> > chicago
> >
> > november 9 , 2000
> >
> > from : joseph a . morris , president
> > to : urf leaders and friends
> >
> > herewith is some practical advice on action that every citizen can take
> > in the event that the florida recount confirms the election of george
> > bush , but al gore fails to concede .
> >
> > we all know what is going on in florida , and that the election hinges on
> > the outcome . i am writing you today to prepare us all for what we will
> > have to do if what i think is going to happen actually does .
> >
> > the recount , which will be finished by 5 p . m . thursday , will likely show
> > bush to be the winner once again , with only a few thousand overseas
> > ballots to be counted . those ballots will be overwhelmingly for bush , a
> > minimum of 60 % and probably closer to 75 % . if the count goes our way
> > tomorrow , we have won this
> > election .
> >
> > this is when something critical happens . either gore bows out gracefully
> > or he doesn ' t , and i can almost guarantee he won ' t . these are people
> > wedded to power who will only go down kicking and screaming . they will
> > use every legal maneuver in the book to steal the election . ( in 1960 ,
> > when richard nixon had every right and reason to challenge the election
> > results he didn ' t for the sake of the country . expect no such noble
> > behavior this time . )
> >
> > what will they try ? one bet is to find a friendly judge to throw out the
> > florida results on a flimsy premise . they are already floating this as a
> > trial balloon in the form of the allegedly " confusing " ballots in palm
> > beach county . i have seen the ballots - they are not confusing in the
> > least . indeed , they are identical in form to the punch - card ballots used
> > in chicago
> > and cook county , illinois , in this very election . what is more , it is
> > just as likely that palm beach county voters who wanted to vote for bush
> > inadvertently voted for nader . all parties approved the form of ballot
> > before the election . the form - of - ballot issue is a mere pretext for an
> > effort a judicial invalidation of the florida election .
> >
> > while i hope this scenario doesn ' t come to pass , i fear that it will ,
> > and it will only have disastrous results for the country . the election
> > fight could drag on for months and actually be decided by a court ! if
> > this comes to pass the vision of our founders and the blood of patriots
> > will have been betrayed .
> >
> > personally , i am not going to stand for this , and i hope you won ' t
> > either . the good news is that we are not without voice .
> >
> > here is what must be done : if the vote count affirms bush ' s election , we
> > allow a short grace period to see the reaction of the gore camp . if they
> > have not graciously conceded after a few hours , we must bombard the news
> > media and our public officials at every level with phone calls of
> > outrage that demand gore ' s concession . i mean literally millions of
> > phone calls . we must
> > jam their phone banks with calls . there are millions of us so it
> > shouldn ' t be too difficult . ( while you ' re at it , send e - mails to your
> > local newspapers as well . )
> >
> > if it becomes widely reported - and it will - that there is a
> > groundswell demanding that gore back down and not embarrass the country ,
> > it will be very difficult for gore to withstand the pressure . he will
> > have to relent .
> >
> > here are some places to start :
> >
> > the white house : telephone ( 202 ) 456 - 4114 fax : ( 202 ) 456 - 2461 e - mail
> > president @ whitehouse . gov
> >
> > the vice president ' s office : telephone : ( 202 ) 274 - 5000
> > fax : ( 202 ) 456 - 2883 e - mail vice . president @ whitehouse . gov
> >
> > vice president ' s senate office : telephone : ( 202 ) 224 - 2424
> >
> > senator tom daschle ( senate democratic leader ) : ( 202 ) 224 - 2321
> > also : ( 202 ) 224 - 5556
> >
> > representative dick gephardt ( house democratic leader ) :
> > ( 202 ) 225 - 2671 also : ( 202 ) 225 - - 0100
> >
> > also , be sure to call your congressmen and both your senators . all these
> > numbers are easily located on voter . com . you can also contact them
> > through the u . s . capitol switchboard :
> >
> > u . s . capitol switchboard ( all senators and representatives ) : ( 202 )
> > 224 - 3121
> >
> > another office to call is that of chicago ' s mayor richard m . daley ( the
> > brother of gore ' s campaign manager , bill daley ) :
> > telephone : ( 312 ) 744 - 3300 fax : ( 312 ) 744 - 2324
> >
> > if you ' ve never made a call like this , there ' s no reason to be shy . they
> > get opinion calls all the time and are set up to take them . in fact they
> > like calls . it helps them tell which way the wind is blowing .
> >
> > some media contacts :
> >
> > boston globe ( 617 ) 929 - 2000
> > matthew v . storin , editor ( 617 ) 929 - 3049
> > e - mail : storin @ globe . com
> >
> > boston herald andrew costello , editor ( 617 ) 619 - 6400
> > e - mail : acostello @ bostonherald . com
> >
> > chicago sun - times : ( 312 ) 321 - 3000
> > michael cooke , editor in chief e - mail : mcooke @ suntimes . com
> >
> > chicago tribune ( 800 ) 874 - 2863
> > howard a . tyner , editor e - mail : chied @ aol . com
> > bruce dold , editorial page editor e - mail : bdold @ tribune . com
> >
> > los angeles times ( 213 ) 237 - 7935 ( opinion department )
> > ( 213 ) 237 - 4511 and fax : ( 213 ) 237 - 7679 ( letters to the editor )
> > ( 202 ) 293 - 4650 ( washington bureau )
> > e - mail : www . latimes . com ( follow prompts to e - mail windows )
> >
> > new york post ( 212 ) 930 - 8000
> > john mancini , news e - mail : jmancini @ nypost . com
> >
> > new york times ( 212 ) 556 - 1234
> > joseph lelyveld , executive editor
> > letters to the editor fax : ( 212 ) 556 - 3622
> > e - mail : letters @ nytimes . com .
> >
> > philadelphia inquirer ( 215 ) 854 - 4500
> > letters to the editor : inquirer . letters @ phillynews . com
> >
> > usa today ( 703 ) 276 - 3400 karen jurgenson , editor
> > e - mail : www . usatoday . com and follow feedback prompts
> >
> > washington post ( 202 ) 334 - 6000
> > fred hiatt , editorial page editor e - mail : hiattf @ washpost . com
> >
> > time e - mail : letters @ time . com
> >
> > abc e - mail : http : / / abc . go . com / abc / help / contact . html
> >
> > cnn ( 404 ) 827 - 1500
> >
> > cbs ( 212 ) 975 - 4321
> >
> > msnbc e - mail : world @ msnbc . com
> >
> > nbc nbc - nightly news : e - mail : nightly @ nbc . com
> > nbc today show : e - mail : today @ nbc . com
> >
> > i ' m hoping none of this will be necessary , but i fear otherwise . as
> > edmund burke said , the price of freedom is eternal vigilance .
> >
> > this e - mail is just to prepare you for the battle that we must engage .
> >
> > please forward this e - mail message to everyone you can think of . if we
> > harness the power of the internet , by tomorrow millions of us will be
> > ready !
> >
> > / s / morris
>
> - -
> kenneth r . pybus
> managing editor , houston business journal
> 1001 west loop south , suite 650
> houston , texas 77027
> 713 - 688 - 8811
> fax : 713 - 968 - 8025
> krpybus @ bizjournals . com
>
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ lstup . com - free the web
get your free internet access at http : / / www . 1 stup . com | 0 | ham | fw : gop action plan : what you can do ! | - - - - - original message - - - - -
from : alex fagen [ mailto : alex @ fagens . net ]
sent : wednesday , november 15 , 2000 9 : 56 pm
to : undisclosed - recipient : @ rad 3 . 1 stup . com ;
subject : fw : gop action plan : what you can do !
- - - - - original message - - - - -
from : kenneth r . pybus
to :
sent : wednesday , november 15 , 2000 9 : 28 am
subject : fwd : gop action plan : what you can do !
> i got this from paul sperry at worldnetdaily
>
>
> >
> > i don ' t know who joe morris is , but this sounds like a plan ! ( note that
> > this has been circulating since last thursday . )
> > - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
> > united republican fund of illinois
> > chicago
> >
> > november 9 , 2000
> >
> > from : joseph a . morris , president
> > to : urf leaders and friends
> >
> > herewith is some practical advice on action that every citizen can take
> > in the event that the florida recount confirms the election of george
> > bush , but al gore fails to concede .
> >
> > we all know what is going on in florida , and that the election hinges on
> > the outcome . i am writing you today to prepare us all for what we will
> > have to do if what i think is going to happen actually does .
> >
> > the recount , which will be finished by 5 p . m . thursday , will likely show
> > bush to be the winner once again , with only a few thousand overseas
> > ballots to be counted . those ballots will be overwhelmingly for bush , a
> > minimum of 60 % and probably closer to 75 % . if the count goes our way
> > tomorrow , we have won this
> > election .
> >
> > this is when something critical happens . either gore bows out gracefully
> > or he doesn ' t , and i can almost guarantee he won ' t . these are people
> > wedded to power who will only go down kicking and screaming . they will
> > use every legal maneuver in the book to steal the election . ( in 1960 ,
> > when richard nixon had every right and reason to challenge the election
> > results he didn ' t for the sake of the country . expect no such noble
> > behavior this time . )
> >
> > what will they try ? one bet is to find a friendly judge to throw out the
> > florida results on a flimsy premise . they are already floating this as a
> > trial balloon in the form of the allegedly " confusing " ballots in palm
> > beach county . i have seen the ballots - they are not confusing in the
> > least . indeed , they are identical in form to the punch - card ballots used
> > in chicago
> > and cook county , illinois , in this very election . what is more , it is
> > just as likely that palm beach county voters who wanted to vote for bush
> > inadvertently voted for nader . all parties approved the form of ballot
> > before the election . the form - of - ballot issue is a mere pretext for an
> > effort a judicial invalidation of the florida election .
> >
> > while i hope this scenario doesn ' t come to pass , i fear that it will ,
> > and it will only have disastrous results for the country . the election
> > fight could drag on for months and actually be decided by a court ! if
> > this comes to pass the vision of our founders and the blood of patriots
> > will have been betrayed .
> >
> > personally , i am not going to stand for this , and i hope you won ' t
> > either . the good news is that we are not without voice .
> >
> > here is what must be done : if the vote count affirms bush ' s election , we
> > allow a short grace period to see the reaction of the gore camp . if they
> > have not graciously conceded after a few hours , we must bombard the news
> > media and our public officials at every level with phone calls of
> > outrage that demand gore ' s concession . i mean literally millions of
> > phone calls . we must
> > jam their phone banks with calls . there are millions of us so it
> > shouldn ' t be too difficult . ( while you ' re at it , send e - mails to your
> > local newspapers as well . )
> >
> > if it becomes widely reported - and it will - that there is a
> > groundswell demanding that gore back down and not embarrass the country ,
> > it will be very difficult for gore to withstand the pressure . he will
> > have to relent .
> >
> > here are some places to start :
> >
> > the white house : telephone ( 202 ) 456 - 4114 fax : ( 202 ) 456 - 2461 e - mail
> > president @ whitehouse . gov
> >
> > the vice president ' s office : telephone : ( 202 ) 274 - 5000
> > fax : ( 202 ) 456 - 2883 e - mail vice . president @ whitehouse . gov
> >
> > vice president ' s senate office : telephone : ( 202 ) 224 - 2424
> >
> > senator tom daschle ( senate democratic leader ) : ( 202 ) 224 - 2321
> > also : ( 202 ) 224 - 5556
> >
> > representative dick gephardt ( house democratic leader ) :
> > ( 202 ) 225 - 2671 also : ( 202 ) 225 - - 0100
> >
> > also , be sure to call your congressmen and both your senators . all these
> > numbers are easily located on voter . com . you can also contact them
> > through the u . s . capitol switchboard :
> >
> > u . s . capitol switchboard ( all senators and representatives ) : ( 202 )
> > 224 - 3121
> >
> > another office to call is that of chicago ' s mayor richard m . daley ( the
> > brother of gore ' s campaign manager , bill daley ) :
> > telephone : ( 312 ) 744 - 3300 fax : ( 312 ) 744 - 2324
> >
> > if you ' ve never made a call like this , there ' s no reason to be shy . they
> > get opinion calls all the time and are set up to take them . in fact they
> > like calls . it helps them tell which way the wind is blowing .
> >
> > some media contacts :
> >
> > boston globe ( 617 ) 929 - 2000
> > matthew v . storin , editor ( 617 ) 929 - 3049
> > e - mail : storin @ globe . com
> >
> > boston herald andrew costello , editor ( 617 ) 619 - 6400
> > e - mail : acostello @ bostonherald . com
> >
> > chicago sun - times : ( 312 ) 321 - 3000
> > michael cooke , editor in chief e - mail : mcooke @ suntimes . com
> >
> > chicago tribune ( 800 ) 874 - 2863
> > howard a . tyner , editor e - mail : chied @ aol . com
> > bruce dold , editorial page editor e - mail : bdold @ tribune . com
> >
> > los angeles times ( 213 ) 237 - 7935 ( opinion department )
> > ( 213 ) 237 - 4511 and fax : ( 213 ) 237 - 7679 ( letters to the editor )
> > ( 202 ) 293 - 4650 ( washington bureau )
> > e - mail : www . latimes . com ( follow prompts to e - mail windows )
> >
> > new york post ( 212 ) 930 - 8000
> > john mancini , news e - mail : jmancini @ nypost . com
> >
> > new york times ( 212 ) 556 - 1234
> > joseph lelyveld , executive editor
> > letters to the editor fax : ( 212 ) 556 - 3622
> > e - mail : letters @ nytimes . com .
> >
> > philadelphia inquirer ( 215 ) 854 - 4500
> > letters to the editor : inquirer . letters @ phillynews . com
> >
> > usa today ( 703 ) 276 - 3400 karen jurgenson , editor
> > e - mail : www . usatoday . com and follow feedback prompts
> >
> > washington post ( 202 ) 334 - 6000
> > fred hiatt , editorial page editor e - mail : hiattf @ washpost . com
> >
> > time e - mail : letters @ time . com
> >
> > abc e - mail : http : / / abc . go . com / abc / help / contact . html
> >
> > cnn ( 404 ) 827 - 1500
> >
> > cbs ( 212 ) 975 - 4321
> >
> > msnbc e - mail : world @ msnbc . com
> >
> > nbc nbc - nightly news : e - mail : nightly @ nbc . com
> > nbc today show : e - mail : today @ nbc . com
> >
> > i ' m hoping none of this will be necessary , but i fear otherwise . as
> > edmund burke said , the price of freedom is eternal vigilance .
> >
> > this e - mail is just to prepare you for the battle that we must engage .
> >
> > please forward this e - mail message to everyone you can think of . if we
> > harness the power of the internet , by tomorrow millions of us will be
> > ready !
> >
> > / s / morris
>
> - -
> kenneth r . pybus
> managing editor , houston business journal
> 1001 west loop south , suite 650
> houston , texas 77027
> 713 - 688 - 8811
> fax : 713 - 968 - 8025
> krpybus @ bizjournals . com
>
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ lstup . com - free the web
get your free internet access at http : / / www . 1 stup . com | 2000-11-16T00:00:00 |
20,356 | this is your dad unsubscribe
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terrain cranenotebook | 2004-11-12T00:00:00 |
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sound listen . deep , people ask ask word teach inch . gone sing
get , measure , also find thousand . state big , next felt . big ,
paint observe long thought fish .
| 2005-04-26T00:00:00 |
7,847 | paper hi mr . kaminski ,
thank you for taking your time to interview me for opportunities at enron . i
enjoyed talking you and learning more about enron and its dynamic business
environment . i appreciate your consideration for a challenging and rewarding
position in this industry . please find the attached copy of my dissertation .
if you have any problem in compiling this file , please let me know .
i respected your insights and perspective on the issues addressed in my
ph . d . dissertation ; including the issues on creative model building , factors
affecting natural gas and elctricity demand and supply , and implementation
of these models to simulate the future and help traders in the decision
making of their day to day business .
i appreciated talking with you . thank you for considering me . i am
enthusiastic about opportunities at enron and look forward to hearing from
you .
sincerely
dipak agarwalla
_ _ _ _ _ _ _
get more from the web . free msn explorer download : http : / / explorer . msn . com
- dissertation - dipak agarwalla . doc | 0 | ham | paper | hi mr . kaminski ,
thank you for taking your time to interview me for opportunities at enron . i
enjoyed talking you and learning more about enron and its dynamic business
environment . i appreciate your consideration for a challenging and rewarding
position in this industry . please find the attached copy of my dissertation .
if you have any problem in compiling this file , please let me know .
i respected your insights and perspective on the issues addressed in my
ph . d . dissertation ; including the issues on creative model building , factors
affecting natural gas and elctricity demand and supply , and implementation
of these models to simulate the future and help traders in the decision
making of their day to day business .
i appreciated talking with you . thank you for considering me . i am
enthusiastic about opportunities at enron and look forward to hearing from
you .
sincerely
dipak agarwalla
_ _ _ _ _ _ _
get more from the web . free msn explorer download : http : / / explorer . msn . com
- dissertation - dipak agarwalla . doc | 2000-12-08T00:00:00 |
18,463 | unleash the power of your digital cable ! open all payper views ! all orders also receive complete
installation and reset instructions and
toll - free 24 / 7 tech support ( 866 ) - 399 - 4678 .
this filter is used to
enhance the picture by cutting down unwanted static , we do not advise that
you use this product to get free pay per view . your cable provider has no
way of knowing if you use it so you must let them know when you are going
to watch a special channel . it is against the law to receive channels
without paying for them . | 1 | spam | unleash the power of your digital cable ! open all payper views ! | all orders also receive complete
installation and reset instructions and
toll - free 24 / 7 tech support ( 866 ) - 399 - 4678 .
this filter is used to
enhance the picture by cutting down unwanted static , we do not advise that
you use this product to get free pay per view . your cable provider has no
way of knowing if you use it so you must let them know when you are going
to watch a special channel . it is against the law to receive channels
without paying for them .
| 2004-03-09T00:00:00 |
26,022 | perfect visual solution for your business now working on your company ' s image ? start with a
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contributeto success of your business . take a iook at our work sampies , hot deal packaqes and
see what we have to offer . we work for you !
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | 1 | spam | perfect visual solution for your business now | working on your company ' s image ? start with a
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of your company by creating an outstandinq ioqo , presentable stationery
items and professionai website . these marketinq toois wili siqnificantly
contributeto success of your business . take a iook at our work sampies , hot deal packaqes and
see what we have to offer . we work for you !
_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ not interested . . . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ | 2005-06-29T00:00:00 |
22,949 | doorstep meeting - additional action steps the missing attachment ! ! ! ! ! !
please note that these are the controls primarily associated with the middle
office .
- - - - - - - - - - - - - - - - - - - - - - forwarded by mike jordan / lon / ect on 15 / 06 / 2000 13 : 40
- - - - - - - - - - - - - - - - - - - - - - - - - - -
mike jordan
15 / 06 / 2000 13 : 34
to : john sherriff / lon / ect @ ect , steve w young / lon / ect @ ect , fernley
dyson / lon / ect @ ect , brent a price / hou / ect @ ect
cc : ted murphy / hou / ect @ ect
subject : doorstep meeting - additional action steps
from our meeting yesterday i noted the following additional action steps (
not recorded within report )
immediate
define a summary of fundamental controls on one page - that can be reviewed
on a cross functional basis ( commercial , commercial support and rac - the
execute , control and review functions ) - timetable
draft summary schedule - done
separately get business controllers and rac management to rate each business
by control point ( red , amber or green ) by next thursday and arrange joint
meetings with commercial on businesses that have a poor assessment or
significantly different assessments - action mike jordan and steve young
others as soon as possible
follow up on status of investment required for weather business in oslo -
action mike jordan
investigate reporting of trades not captured on trade date within dpr on a
daily basis - action mike jordan
establish accountability for existing process for creating authorised trader
list - action steve young
change process for publishing authorisation list - placing it on commercial
bulleting board - and reference location within dpr - action mike jordan
generate an update of status re master isda - action steve young and
investigate possibility of flagging this status within gcp - action mike
jordan
determine current eol straight through process rate ( stp ) across bridges to
risk management systems - action mike jordan
define summary information on coal / p & p etc businesses for inclusion in dpr
for supervisory review by john
regards
mike | 0 | ham | doorstep meeting - additional action steps | the missing attachment ! ! ! ! ! !
please note that these are the controls primarily associated with the middle
office .
- - - - - - - - - - - - - - - - - - - - - - forwarded by mike jordan / lon / ect on 15 / 06 / 2000 13 : 40
- - - - - - - - - - - - - - - - - - - - - - - - - - -
mike jordan
15 / 06 / 2000 13 : 34
to : john sherriff / lon / ect @ ect , steve w young / lon / ect @ ect , fernley
dyson / lon / ect @ ect , brent a price / hou / ect @ ect
cc : ted murphy / hou / ect @ ect
subject : doorstep meeting - additional action steps
from our meeting yesterday i noted the following additional action steps (
not recorded within report )
immediate
define a summary of fundamental controls on one page - that can be reviewed
on a cross functional basis ( commercial , commercial support and rac - the
execute , control and review functions ) - timetable
draft summary schedule - done
separately get business controllers and rac management to rate each business
by control point ( red , amber or green ) by next thursday and arrange joint
meetings with commercial on businesses that have a poor assessment or
significantly different assessments - action mike jordan and steve young
others as soon as possible
follow up on status of investment required for weather business in oslo -
action mike jordan
investigate reporting of trades not captured on trade date within dpr on a
daily basis - action mike jordan
establish accountability for existing process for creating authorised trader
list - action steve young
change process for publishing authorisation list - placing it on commercial
bulleting board - and reference location within dpr - action mike jordan
generate an update of status re master isda - action steve young and
investigate possibility of flagging this status within gcp - action mike
jordan
determine current eol straight through process rate ( stp ) across bridges to
risk management systems - action mike jordan
define summary information on coal / p & p etc businesses for inclusion in dpr
for supervisory review by john
regards
mike | 2000-06-15T00:00:00 |
30,201 | i need your urgent reply dear beloved ,
i ' m rev sunny musu , a kuwait citizen , transfered to asia
dioceses in malaysia , after the war that happen in iraq .
and the sole owner of ( sunny foundation ! ! ) but made fame in
iraq . i ' ve been into helping the ophans for the pastl 0 years .
i became a great man when i had a licence to be an
international crude oil maketer 5 years ago .
i ' ve help so many orphanages homes , needy homes and the
less priviledge accross the african continents , with
the wealth god gave to me . the last conflicts that
happened in iraq made me to loose all i ' ve worked
for . i lost entire all i ' ve worked for . now i am very ill
with cancer . the doctor said i ' ve a little more time to
stay in this planet . my good friend , i want you to do me a
favour . i will want you to assist me with the distribution
of funds to ophans that you know in your country .
i kept some amount of money in a private security and finance
company , here in malaysia asia country where i am now and this
amount is usd $ 6 million dollars .
i want you to take the place of my next of kin . i ' m doing
this base on the short time i ' ve on earth .
please this should be confidential between you and
me .
if this transaction is sucessful , which i believe
it would . i will want you to take 20 % / 10 % will be for all
the expenses and 70 % should be distributed amongst the
orphanage homes in africa / and your country .
please get back to me urgently , as i am sending you this mail
via my foundations email .
i will want you to email me back via the foundations
email ( sunnyfoundation 2 @ voila . fr )
may god bless you
regards ,
rev sunny musu . | 1 | spam | i need your urgent reply | dear beloved ,
i ' m rev sunny musu , a kuwait citizen , transfered to asia
dioceses in malaysia , after the war that happen in iraq .
and the sole owner of ( sunny foundation ! ! ) but made fame in
iraq . i ' ve been into helping the ophans for the pastl 0 years .
i became a great man when i had a licence to be an
international crude oil maketer 5 years ago .
i ' ve help so many orphanages homes , needy homes and the
less priviledge accross the african continents , with
the wealth god gave to me . the last conflicts that
happened in iraq made me to loose all i ' ve worked
for . i lost entire all i ' ve worked for . now i am very ill
with cancer . the doctor said i ' ve a little more time to
stay in this planet . my good friend , i want you to do me a
favour . i will want you to assist me with the distribution
of funds to ophans that you know in your country .
i kept some amount of money in a private security and finance
company , here in malaysia asia country where i am now and this
amount is usd $ 6 million dollars .
i want you to take the place of my next of kin . i ' m doing
this base on the short time i ' ve on earth .
please this should be confidential between you and
me .
if this transaction is sucessful , which i believe
it would . i will want you to take 20 % / 10 % will be for all
the expenses and 70 % should be distributed amongst the
orphanage homes in africa / and your country .
please get back to me urgently , as i am sending you this mail
via my foundations email .
i will want you to email me back via the foundations
email ( sunnyfoundation 2 @ voila . fr )
may god bless you
regards ,
rev sunny musu . | 2004-10-30T00:00:00 |
7,196 | re : bollerslev seminar excellent . thank you .
bbo
at 03 : 19 pm 10 / 10 / 00 - 0500 , you wrote :
> barbara ,
>
> noon will be fine . we shall just use the lunch hour .
>
> vince
>
>
>
>
>
>
> barbara ostdiek on 10 / 10 / 2000 12 : 53 : 34 pm
>
> to : vince . j . kaminski @ enron . com ( vince kaminski )
> cc :
> subject : bollerslev seminar
>
>
> vince :
>
> i don ' t know if you noticed that we have tim bollerslev on the seminar
> schedule for december 8 . in order for tim to get back to north carolina on
> friday , we need to move the seminar time . i thought that the enron folks
> might be interested in his talk so i wanted to get you input on a new
> time . i know that 3 : 30 is best but would over the noon hour be second best
> or would 2 : 00 be better ?
>
> thanks .
>
> bbo
>
>
>
> | 0 | ham | re : bollerslev seminar | excellent . thank you .
bbo
at 03 : 19 pm 10 / 10 / 00 - 0500 , you wrote :
> barbara ,
>
> noon will be fine . we shall just use the lunch hour .
>
> vince
>
>
>
>
>
>
> barbara ostdiek on 10 / 10 / 2000 12 : 53 : 34 pm
>
> to : vince . j . kaminski @ enron . com ( vince kaminski )
> cc :
> subject : bollerslev seminar
>
>
> vince :
>
> i don ' t know if you noticed that we have tim bollerslev on the seminar
> schedule for december 8 . in order for tim to get back to north carolina on
> friday , we need to move the seminar time . i thought that the enron folks
> might be interested in his talk so i wanted to get you input on a new
> time . i know that 3 : 30 is best but would over the noon hour be second best
> or would 2 : 00 be better ?
>
> thanks .
>
> bbo
>
>
>
> | 2000-10-10T00:00:00 |
20,560 | have you got the new mlcrosoft software wed , 01 dec 2004 19 : 08 : 42 - 0500 | 1 | spam | have you got the new mlcrosoft software | wed , 01 dec 2004 19 : 08 : 42 - 0500
| 2004-12-02T00:00:00 |
11,030 | congrats ! contratulations on the execution of the central maine sos deal ! this is another great example of what we can do when everyone comes together to get something done . this transaction brings both strategic value to the business , nice positions for the book and quite a nice chunk of change as well !
great job guys !
( hey dana , are you paying for the celebration dinner ? ! ) | 0 | ham | congrats ! | contratulations on the execution of the central maine sos deal ! this is another great example of what we can do when everyone comes together to get something done . this transaction brings both strategic value to the business , nice positions for the book and quite a nice chunk of change as well !
great job guys !
( hey dana , are you paying for the celebration dinner ? ! ) | 2001-02-07T00:00:00 |
1,207 | enron actuals for july 14 thru 16 , 2000 july 14 teco tap 10 . 000 / enron 60 . 000 / hpl iferc
ls hpl katy 30 . 000 / enron
july 15 teco tap 10 . 000 / enron 95 . 000 / hpl
iferc
ls hpl katy 30 . 000 / enron
july 16 teco tap 10 . 000 / enron 55 . 000 / hpl
iferc
ls hpl katy 30 . 000 / enron | 0 | ham | enron actuals for july 14 thru 16 , 2000 | july 14 teco tap 10 . 000 / enron 60 . 000 / hpl iferc
ls hpl katy 30 . 000 / enron
july 15 teco tap 10 . 000 / enron 95 . 000 / hpl
iferc
ls hpl katy 30 . 000 / enron
july 16 teco tap 10 . 000 / enron 55 . 000 / hpl
iferc
ls hpl katy 30 . 000 / enron | 2000-07-17T00:00:00 |
963 | enron actuals for june 12 , 2000 teco tap 117 . 500 / hpl iferc
texoma 20 . 000 / enron
ls hpl katy 40 . 000 / enron | 0 | ham | enron actuals for june 12 , 2000 | teco tap 117 . 500 / hpl iferc
texoma 20 . 000 / enron
ls hpl katy 40 . 000 / enron | 2000-06-13T00:00:00 |
17,859 | start date : 1 / 24 / 02 ; hourahead hour : 20 ; start date : 1 / 24 / 02 ; hourahead hour : 20 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012420 . txt | 0 | ham | start date : 1 / 24 / 02 ; hourahead hour : 20 ; | start date : 1 / 24 / 02 ; hourahead hour : 20 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012420 . txt | 2002-01-24T00:00:00 |
14,536 | re : bonus prc tom dick .
- - - - - original message - - - - -
from : kitchen , louise
sent : wednesday , january 02 , 2002 9 : 21 am
to : oxley , david
subject : re : bonus prc
where ' s jeanie ?
- - - - - - - - - - - - - - - - - - - - - - - - - -
sent from my blackberry wireless handheld | 0 | ham | re : bonus prc | tom dick .
- - - - - original message - - - - -
from : kitchen , louise
sent : wednesday , january 02 , 2002 9 : 21 am
to : oxley , david
subject : re : bonus prc
where ' s jeanie ?
- - - - - - - - - - - - - - - - - - - - - - - - - -
sent from my blackberry wireless handheld | 2002-01-02T00:00:00 |
10,696 | youthh rediscovered how to save on your medlcatlons over 70 tiffin % .
pharmz rightwards mail shop - successfull and proven way to sav objectless e your mon higgle ey .
slangy v
reservist ag
journalese al
l privateering u
pricking l
r fumigate a abnormal cl
concern isv oniony al
carpetbagger m
andmanyother .
* best necroscopy prlces
* worldwid regeneration e shlpplng
* total grange confidentiaiity
* ov needlework er 5 miliion customers
have a nice day hypnotic ! | 1 | spam | youthh rediscovered | how to save on your medlcatlons over 70 tiffin % .
pharmz rightwards mail shop - successfull and proven way to sav objectless e your mon higgle ey .
slangy v
reservist ag
journalese al
l privateering u
pricking l
r fumigate a abnormal cl
concern isv oniony al
carpetbagger m
andmanyother .
* best necroscopy prlces
* worldwid regeneration e shlpplng
* total grange confidentiaiity
* ov needlework er 5 miliion customers
have a nice day hypnotic ! | 2005-07-14T00:00:00 |
16,730 | cut bill , on saturday night i handled a cut on a schedule that we bought from calpine @ mead and sold to valley . we were informed of the cut after the hour was over and the subsequent hours were resupplied by calpine . natalie at calpine agreed to be charged ld ' s for the 1 / 2 hour that the power did not flow and we agreed to an integrated number of 13 mw that did flow however , i told her we would get back to them monday for the exact charges . i did this due to the fact that we sold this power to one of our service customers and i felt we may want to discuss with them first before charging the ld ' s on this transaction . please advise on how to proceed on cuts like this . our sale to vea was at $ 153 and our buy from calpine @ $ 107 . i have entered cut notes with specifics in lotus notes . i will be in on tuesday however , it might be best to resolve this issue monday . thank you for your attention to this matter . | 0 | ham | cut | bill , on saturday night i handled a cut on a schedule that we bought from calpine @ mead and sold to valley . we were informed of the cut after the hour was over and the subsequent hours were resupplied by calpine . natalie at calpine agreed to be charged ld ' s for the 1 / 2 hour that the power did not flow and we agreed to an integrated number of 13 mw that did flow however , i told her we would get back to them monday for the exact charges . i did this due to the fact that we sold this power to one of our service customers and i felt we may want to discuss with them first before charging the ld ' s on this transaction . please advise on how to proceed on cuts like this . our sale to vea was at $ 153 and our buy from calpine @ $ 107 . i have entered cut notes with specifics in lotus notes . i will be in on tuesday however , it might be best to resolve this issue monday . thank you for your attention to this matter . | 2001-06-25T00:00:00 |
9,574 | attn : 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 2 of my partners are the leader of this
committee , with our good position , this contracrs
was over invoiced to the tune of us $ 25 , 600 , 000 : 00 as a
deal to be benefit by 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 .
75 % will be for us in south africa .
20 % for using your account and other contribution
that might reqiured from you .
5 % 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
the rightful owner of this fund .
if you are interested in this transaction , kindly
reply this massege with all your phone and fax
numbers , to enable us furnish you with details and
procedures of this transaction .
god bless you
yours faithfully .
joseph edward . | 1 | spam | attn : | 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 2 of my partners are the leader of this
committee , with our good position , this contracrs
was over invoiced to the tune of us $ 25 , 600 , 000 : 00 as a
deal to be benefit by 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 .
75 % will be for us in south africa .
20 % for using your account and other contribution
that might reqiured from you .
5 % 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
the rightful owner of this fund .
if you are interested in this transaction , kindly
reply this massege with all your phone and fax
numbers , to enable us furnish you with details and
procedures of this transaction .
god bless you
yours faithfully .
joseph edward . | 2002-05-13T00:00:00 |
17,119 | request submitted : access request for darin . presto @ enron . com you have received this email because the requester specified you as their manager . please click http : / / itcapps . corp . enron . com / srrs / auth / emaillink . asp ? id = 000000000054493 & page = approval to review and act upon this request .
request id : 000000000054493
request create date : 8 / 20 / 01 2 : 53 : 23 pm
requested for : darin . presto @ enron . com
resource name : enpower north america west production scheduler - schedule deals
resource type : applications | 0 | ham | request submitted : access request for darin . presto @ enron . com | you have received this email because the requester specified you as their manager . please click http : / / itcapps . corp . enron . com / srrs / auth / emaillink . asp ? id = 000000000054493 & page = approval to review and act upon this request .
request id : 000000000054493
request create date : 8 / 20 / 01 2 : 53 : 23 pm
requested for : darin . presto @ enron . com
resource name : enpower north america west production scheduler - schedule deals
resource type : applications | 2001-08-20T00:00:00 |
6,677 | preface for book vince ,
?
hope you are well .
?
we spoke a while ago about who should write the preface for the book , and
you kindly offered that you would provide this . ? is this still possible ? ? we
realise that you are extremely busy , so chris and les went ahead and wrote
something , which is below , and if you want to review , change or re - write ? the
preface , that would be very appreciated . ? let me know what your thoughts are .
?
thanks ,
julie
( we ' re getting close )
?
?
preface
?
?
?
one of our main objectives in writing energy derivatives : pricing and risk
management has been to bring together as many of the various approaches for
the pricing and risk management energy derivatives as possible , to discuss
in - depth the models , and to show how they relate to each other . ? in this
way we hope to help the reader to analyse the different models , price a wide
range of energy derivatives , or to build a risk management system which uses
a consistent modelling framework . ? we believe that for practitioners this
last point is very important and we continue to stress in our articles and
presentations the dangers of having flawed risk management and giving
arbitrage opportunities to your competitors by using ad - hoc and inconsistent
models for different instruments and markets ( see also others who propose
consistent models ? ) . ? however , it is not our wish to concentrate on one
particular model or models , at the exclusion of the others because we
believe that the choice should rest with the user ( although it will probably
be clear from our discussions the model ( s ) we prefer ) . ? we therefore try and
give as clear account as possible of the advantage and disadvantages of all
the models so that the reader can make an informed choice as to the models
which best suit their needs .
?
in order to meet our objectives the book is divided into 11 chapters . ? in
chapter 1 we give an overview of the fundamental principals needed to model
and price energy derivatives which will underpin the remainder of the book . ?
in addition to introducing the techniques that underlie the black - scholes
modelling framework we outline the numerical techniques of trinomial trees
and monte carlo simulation for derivative pricing , which are used throughout
the book .
?
in chapter 2 we discuss the analysis of spot energy prices . ? as well as
analysing empirical price movements we propose a number of processes that
can be used to model the prices . ? we look at the well - know process of
geometric brownian motion as well as mean reversion , stochastic volatility
and jump processes , discussing each and showing how they can be simulated
and their parameters estimated .
?
chapter 3 , written by vince kaminski , grant masson and ronnie chahal of
enron corp . , discusses volatility estimation in energy commodity markets . ?
this chapter builds on the previous one . ? it examines in detail the methods ,
merits and pitfalls of the volatility estimation process assuming different
pricing models introduced in chapter 2 . ? examples from crude , gas , and
electricity markets are used to illustrate the technical and interpretative
aspects of calculating volatility .
?
chapter 4 examines forward curves in the energy markets . ? although such
curves are well understood and straight - forward in the most financial
markets , the difficulty of storage in many energy markets leads to less well
defined curves . ? in this chapter we describe forward price bounds for energy
prices and the building of forward curves from market instruments . ? we
outline the three main approaches which have been applied to building
forward curves in energy markets ; the arbitrage approach , the econometric
approach , and deriving analytical values by modelling underlying stochastic
factors .
?
chapter 5 presents an overview of structures found in the energy derivative
markets and discusses their uses . ? examples of products analysed in this
chapter include a variety of swaps , caps , floors and collars , as well as
energy swaptions , compound options , asian options , barrier options , lookback
options , and ladder options .
?
chapter 6 investigates single and multi - factor models of the energy spot
price and the pricing of some standard energy derivatives . ? closed form
solutions for forward prices , forward volatilities , and european option
prices both on the spot and forwards are derived and presented for all the
models in this chapter including a three factor , stochastic convenience
yield and interest rate model .
?
chapter 7 shows how the prices of path dependent and american style options
can be evaluated for the models in chapter 6 . ? simulation schemes are
developed for the evaluation of european style options and applied to a
variety of path dependent options . ? in order to price options which
incorporate early exercise opportunities , a trinomial tree scheme is
developed . ? this tree is built to be consistent with the observed forward
curve and can be used to price exotic as well as standard european and
american style options .
?
chapter 8 describes a methodology for valuing energy options based on
modelling the whole of the market observed forward curve . ? the approach
results in a multi - factor model that is able to realistically capture the
evolution of a wide range of energy forward curves . ? the user defined
volatility structures can be of an extremely general form . ? closed - form
solutions are developed for pricing standard european options , and efficient
monte carlo schemes are presented for pricing exotic options . ? the chapter
closes with a discussion of the valuation of american style options .
?
chapter 9 focuses on the risk management of energy derivative positions . ?
in this chapter we discuss the management of price risk for institutions
that trade options or other derivatives and who are then faced with the
problem of managing the risk through time . ? we begin with delta hedging a
portfolio containing derivatives and look at extensions to gamma hedging )
illustrating the techniques using both spot and forward curve models . ? the
general model presented in chapter 8 is ideally suited to multi - factor
hedging of a portfolio of energy derivatives and this is also discussed .
?
chapter 10 examines the key risk management concept of value at risk ( var )
applied to portfolios containing energy derivative products . ? after
discussing the concept of the measure , we look at how the key inputs
( volatilities , covariances , correlations , etc ) can be estimated . ? we then
compare the fours major methodologies for computing var ; delta , delta - gamma ,
historical simulation and monte - carlo simulation , applying each to the same
portfolio of energy options . ? in this chapter we also look at testing the
var estimates for various underlying energy market variables .
?
finally , in chapter 11 we review modelling approaches to credit risk . ? we
look in detail at two quite different approaches , creditmetrics ( j . p . morgan
( 1997 ) ) and creditrisk + ( credit suisse financial products ( 1997 ) ) for which
detailed information is publicly available . ? together these provide an
extensive set of tools with which to measure credit risk . ? we present
numerical examples of applying these techniques to energy derivatives .
?
before we begin we stress that the models and methods we present in this
book are tools which should be used with the benefit of an understanding of
how both the + tool , and the market works . ? the techniques we describe are
certainly not & magic wands 8 which can be waved at data and risk management
problems to provide instant and perfect solutions . ? to quote from the
riskmetrics technical document & ( no amount of sophisticated analytics will
replace experience and professional judgement in managing risk . 8 . ? however ,
the right tools , correctly used make the job a lot easier ! | 0 | ham | preface for book | vince ,
?
hope you are well .
?
we spoke a while ago about who should write the preface for the book , and
you kindly offered that you would provide this . ? is this still possible ? ? we
realise that you are extremely busy , so chris and les went ahead and wrote
something , which is below , and if you want to review , change or re - write ? the
preface , that would be very appreciated . ? let me know what your thoughts are .
?
thanks ,
julie
( we ' re getting close )
?
?
preface
?
?
?
one of our main objectives in writing energy derivatives : pricing and risk
management has been to bring together as many of the various approaches for
the pricing and risk management energy derivatives as possible , to discuss
in - depth the models , and to show how they relate to each other . ? in this
way we hope to help the reader to analyse the different models , price a wide
range of energy derivatives , or to build a risk management system which uses
a consistent modelling framework . ? we believe that for practitioners this
last point is very important and we continue to stress in our articles and
presentations the dangers of having flawed risk management and giving
arbitrage opportunities to your competitors by using ad - hoc and inconsistent
models for different instruments and markets ( see also others who propose
consistent models ? ) . ? however , it is not our wish to concentrate on one
particular model or models , at the exclusion of the others because we
believe that the choice should rest with the user ( although it will probably
be clear from our discussions the model ( s ) we prefer ) . ? we therefore try and
give as clear account as possible of the advantage and disadvantages of all
the models so that the reader can make an informed choice as to the models
which best suit their needs .
?
in order to meet our objectives the book is divided into 11 chapters . ? in
chapter 1 we give an overview of the fundamental principals needed to model
and price energy derivatives which will underpin the remainder of the book . ?
in addition to introducing the techniques that underlie the black - scholes
modelling framework we outline the numerical techniques of trinomial trees
and monte carlo simulation for derivative pricing , which are used throughout
the book .
?
in chapter 2 we discuss the analysis of spot energy prices . ? as well as
analysing empirical price movements we propose a number of processes that
can be used to model the prices . ? we look at the well - know process of
geometric brownian motion as well as mean reversion , stochastic volatility
and jump processes , discussing each and showing how they can be simulated
and their parameters estimated .
?
chapter 3 , written by vince kaminski , grant masson and ronnie chahal of
enron corp . , discusses volatility estimation in energy commodity markets . ?
this chapter builds on the previous one . ? it examines in detail the methods ,
merits and pitfalls of the volatility estimation process assuming different
pricing models introduced in chapter 2 . ? examples from crude , gas , and
electricity markets are used to illustrate the technical and interpretative
aspects of calculating volatility .
?
chapter 4 examines forward curves in the energy markets . ? although such
curves are well understood and straight - forward in the most financial
markets , the difficulty of storage in many energy markets leads to less well
defined curves . ? in this chapter we describe forward price bounds for energy
prices and the building of forward curves from market instruments . ? we
outline the three main approaches which have been applied to building
forward curves in energy markets ; the arbitrage approach , the econometric
approach , and deriving analytical values by modelling underlying stochastic
factors .
?
chapter 5 presents an overview of structures found in the energy derivative
markets and discusses their uses . ? examples of products analysed in this
chapter include a variety of swaps , caps , floors and collars , as well as
energy swaptions , compound options , asian options , barrier options , lookback
options , and ladder options .
?
chapter 6 investigates single and multi - factor models of the energy spot
price and the pricing of some standard energy derivatives . ? closed form
solutions for forward prices , forward volatilities , and european option
prices both on the spot and forwards are derived and presented for all the
models in this chapter including a three factor , stochastic convenience
yield and interest rate model .
?
chapter 7 shows how the prices of path dependent and american style options
can be evaluated for the models in chapter 6 . ? simulation schemes are
developed for the evaluation of european style options and applied to a
variety of path dependent options . ? in order to price options which
incorporate early exercise opportunities , a trinomial tree scheme is
developed . ? this tree is built to be consistent with the observed forward
curve and can be used to price exotic as well as standard european and
american style options .
?
chapter 8 describes a methodology for valuing energy options based on
modelling the whole of the market observed forward curve . ? the approach
results in a multi - factor model that is able to realistically capture the
evolution of a wide range of energy forward curves . ? the user defined
volatility structures can be of an extremely general form . ? closed - form
solutions are developed for pricing standard european options , and efficient
monte carlo schemes are presented for pricing exotic options . ? the chapter
closes with a discussion of the valuation of american style options .
?
chapter 9 focuses on the risk management of energy derivative positions . ?
in this chapter we discuss the management of price risk for institutions
that trade options or other derivatives and who are then faced with the
problem of managing the risk through time . ? we begin with delta hedging a
portfolio containing derivatives and look at extensions to gamma hedging )
illustrating the techniques using both spot and forward curve models . ? the
general model presented in chapter 8 is ideally suited to multi - factor
hedging of a portfolio of energy derivatives and this is also discussed .
?
chapter 10 examines the key risk management concept of value at risk ( var )
applied to portfolios containing energy derivative products . ? after
discussing the concept of the measure , we look at how the key inputs
( volatilities , covariances , correlations , etc ) can be estimated . ? we then
compare the fours major methodologies for computing var ; delta , delta - gamma ,
historical simulation and monte - carlo simulation , applying each to the same
portfolio of energy options . ? in this chapter we also look at testing the
var estimates for various underlying energy market variables .
?
finally , in chapter 11 we review modelling approaches to credit risk . ? we
look in detail at two quite different approaches , creditmetrics ( j . p . morgan
( 1997 ) ) and creditrisk + ( credit suisse financial products ( 1997 ) ) for which
detailed information is publicly available . ? together these provide an
extensive set of tools with which to measure credit risk . ? we present
numerical examples of applying these techniques to energy derivatives .
?
before we begin we stress that the models and methods we present in this
book are tools which should be used with the benefit of an understanding of
how both the + tool , and the market works . ? the techniques we describe are
certainly not & magic wands 8 which can be waved at data and risk management
problems to provide instant and perfect solutions . ? to quote from the
riskmetrics technical document & ( no amount of sophisticated analytics will
replace experience and professional judgement in managing risk . 8 . ? however ,
the right tools , correctly used make the job a lot easier ! | 2000-08-01T00:00:00 |
971 | yates energy corp . - revised nomination daren ,
yates energy has revised their nomination from 3 , 135 / d to 3 , 060 / d eff .
6 / 15 / 00 at meter 6598 . the deal # is 138856 . do you want me to adjust ?
bob | 0 | ham | yates energy corp . - revised nomination | daren ,
yates energy has revised their nomination from 3 , 135 / d to 3 , 060 / d eff .
6 / 15 / 00 at meter 6598 . the deal # is 138856 . do you want me to adjust ?
bob | 2000-06-14T00:00:00 |
21,152 | aggressive investors and traders shouid be watching tiger team technoiogies ( otc - t t m t )
leading deveioper of a unique patented process for
transforming business operations of medica | service
providers ( source : news 1 / 4 / o 5 )
current price : - $ 0 . 08
reasons to consider t t m t : ( source : company website )
* tiger team technologies ( t 3 ) , is a | eading developer
of a
unique patented process for transforming business
operations
of medical service providers through state - of - the - art
communication hardware and software technologies . t 3
has
exciusive rights on this patented process , which
guarantees
secure and bonded eiectronic fiie transmission in
accordance
with federa | mandated hippa compliance requirements .
this
translates to total patient privacy and security which
is key to
reducing the | iability and medical premiums placed on
providers . based in st . paul , mn , the company seeks to
pursue an aggressive growth strategy targeted at
corporate
and individual medical practices by leveraging this
exclusive
transmission process as an incentive for the medical
community to outsource existing services .
* capitalizing on increasing demand for hippa compiiant
guaranteee and secure and bonded transmissions ,
inciuding a | |
licenses and certifications required for handiing
medica | files
and performing transcription services .
* empioying t 3 s exclusive and patented process
designed
to deliver secure transmissions bonded up to $ 2 , 5 oo
per
transmission .
* estabiishing a certification program for medical
industry
similar to iso 9 ooo or six sigma programs applied to
industria | environments .
* offering medical community a bundie of services with
high
level of security and redundancy and 3 o % reduction in
costs .
* leading advantages over competition in terms of
process ,
technoiogy , service and quaiity contro | .
recent news :
* tiger team technoiogies forms group in india for
medical bi | | ing and transcription services
* tiger team technoiogies joins forces with large
insur @ nce carrier ; retains an auditor
* tiger team technoiogies moves forward in becoming a
reporting company
* tiger team technologies announces its intention to be
a fuliy reporting company
watch for more news that may impact the stock . .
watch this stock trade thursday ! ! good luck .
information within this email contains forward
| ooking 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 invoive discussions with respect to
predictions , expectations , beiiefs , pians ,
projections , objectives , goals , assumptions or future
events or performance are not statements of historical
fact and may be forward looking statements . forward
| ooking statements are based on expectations ,
estimates and projections at the time the statements
are made that involve a number of risks and
uncertainties which couid cause actual results or
events to differ materiaily from those presentiy
anticipated . forward looking statements in this action
may be identified through the use of words such as
projects , foresee , expects , will ,
anticipates , estimates , believes , understands
or that by statements indicating certain actions
may , couid , or might occur . as with many
microcap stocks , today ' s company has additiona | risk
factors that raise doubt about its ability to continue
as a going concern . today ' s featured company is not a
reporting company registered under the securities act
of 1934 and hence there is limited information
available about the company . other factors inciude a
| imited operating history , an accumulated deficit since
its inception , reliance on loans from officers and
directors to pay expenses , a nominal cash position , and
no revenue in its most recent quarter . it is not
currentiy an operating company . the company is going
to need financing . if that financing does not occur ,
the company may not be abie to continue as a going
concern in which case you could | ose your entire
investment . other risks and uncertainties inciude , but
are not limited to , the abiiity of the company to
compiete a pianned bridge financing , market
conditions , the general acceptance of the company ' s
products and technologies , competitive factors ,
timing , and other risks associated with their
business . the pubiisher of this newsietter does not
represent that the information contained in this
message states a | | material facts or does not omit a
materia | fact necessary to make the statements therein
not misleading . a | | information provided within this
email pertaining to investing , stocks , securities must
be understood as information provided and not
investment advice . the publisher of this newsietter
advises al | 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 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
ail your money by investing in this stock . the
publisher of this newsletter is not a re gister ed
in vest ment advisor . subscribers should not view
information herein as legal , tax , accounting or
investment advice . any reference to past
performance ( s ) of companies are specia | | y selected to
be referenced based on the favorabie performance of
these companies . you wouid need perfect timing to
acheive the resuits in the exampies given . there can
be no assurance of that happening . remember , as
aiways , past performance is ne ver indicative of future
resuits and a thorough due diligence effort , including
a review of a company ' s filings when available , shouid
be completed prior to investing . in compliance with
the securities act of 1933 , sectionl 7 ( b ) , the publisher
of this newsietter discloses the receipt of thirty one
thousand doilars from a third party , not an officer ,
director or affiiiate shareholder for the circuiation
of this report . be aware of an inherent confiict of
interest resuiting from such compensation due to the
fact that this is a paid advertisement and is not
without bias . the party that paid us has a position in
the stock they wiil seil at anytime without notice .
this could have a negative impact on the price of the
stock . all factual information in this report was
gathered from pubiic sources , including but not
| imited to company websites and company press
releases . the pubiisher of this newsletter beiieves
this information to be reiiable but can make no
guaranteee as to its accuracy or completeness . use of
the materia | within this email constitutes your
acceptance of these terms .
if you wish to stop future maiiings , or if you feel you have been
wrongfuliy piaced in our list , piease go here
( - stoxo 010 @ yahoo . com - ) | 1 | spam | aggressive investors and traders shouid be watching | tiger team technoiogies ( otc - t t m t )
leading deveioper of a unique patented process for
transforming business operations of medica | service
providers ( source : news 1 / 4 / o 5 )
current price : - $ 0 . 08
reasons to consider t t m t : ( source : company website )
* tiger team technologies ( t 3 ) , is a | eading developer
of a
unique patented process for transforming business
operations
of medical service providers through state - of - the - art
communication hardware and software technologies . t 3
has
exciusive rights on this patented process , which
guarantees
secure and bonded eiectronic fiie transmission in
accordance
with federa | mandated hippa compliance requirements .
this
translates to total patient privacy and security which
is key to
reducing the | iability and medical premiums placed on
providers . based in st . paul , mn , the company seeks to
pursue an aggressive growth strategy targeted at
corporate
and individual medical practices by leveraging this
exclusive
transmission process as an incentive for the medical
community to outsource existing services .
* capitalizing on increasing demand for hippa compiiant
guaranteee and secure and bonded transmissions ,
inciuding a | |
licenses and certifications required for handiing
medica | files
and performing transcription services .
* empioying t 3 s exclusive and patented process
designed
to deliver secure transmissions bonded up to $ 2 , 5 oo
per
transmission .
* estabiishing a certification program for medical
industry
similar to iso 9 ooo or six sigma programs applied to
industria | environments .
* offering medical community a bundie of services with
high
level of security and redundancy and 3 o % reduction in
costs .
* leading advantages over competition in terms of
process ,
technoiogy , service and quaiity contro | .
recent news :
* tiger team technoiogies forms group in india for
medical bi | | ing and transcription services
* tiger team technoiogies joins forces with large
insur @ nce carrier ; retains an auditor
* tiger team technoiogies moves forward in becoming a
reporting company
* tiger team technologies announces its intention to be
a fuliy reporting company
watch for more news that may impact the stock . .
watch this stock trade thursday ! ! good luck .
information within this email contains forward
| ooking 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 invoive discussions with respect to
predictions , expectations , beiiefs , pians ,
projections , objectives , goals , assumptions or future
events or performance are not statements of historical
fact and may be forward looking statements . forward
| ooking statements are based on expectations ,
estimates and projections at the time the statements
are made that involve a number of risks and
uncertainties which couid cause actual results or
events to differ materiaily from those presentiy
anticipated . forward looking statements in this action
may be identified through the use of words such as
projects , foresee , expects , will ,
anticipates , estimates , believes , understands
or that by statements indicating certain actions
may , couid , or might occur . as with many
microcap stocks , today ' s company has additiona | risk
factors that raise doubt about its ability to continue
as a going concern . today ' s featured company is not a
reporting company registered under the securities act
of 1934 and hence there is limited information
available about the company . other factors inciude a
| imited operating history , an accumulated deficit since
its inception , reliance on loans from officers and
directors to pay expenses , a nominal cash position , and
no revenue in its most recent quarter . it is not
currentiy an operating company . the company is going
to need financing . if that financing does not occur ,
the company may not be abie to continue as a going
concern in which case you could | ose your entire
investment . other risks and uncertainties inciude , but
are not limited to , the abiiity of the company to
compiete a pianned bridge financing , market
conditions , the general acceptance of the company ' s
products and technologies , competitive factors ,
timing , and other risks associated with their
business . the pubiisher of this newsietter does not
represent that the information contained in this
message states a | | material facts or does not omit a
materia | fact necessary to make the statements therein
not misleading . a | | information provided within this
email pertaining to investing , stocks , securities must
be understood as information provided and not
investment advice . the publisher of this newsietter
advises al | 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 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
ail your money by investing in this stock . the
publisher of this newsletter is not a re gister ed
in vest ment advisor . subscribers should not view
information herein as legal , tax , accounting or
investment advice . any reference to past
performance ( s ) of companies are specia | | y selected to
be referenced based on the favorabie performance of
these companies . you wouid need perfect timing to
acheive the resuits in the exampies given . there can
be no assurance of that happening . remember , as
aiways , past performance is ne ver indicative of future
resuits and a thorough due diligence effort , including
a review of a company ' s filings when available , shouid
be completed prior to investing . in compliance with
the securities act of 1933 , sectionl 7 ( b ) , the publisher
of this newsietter discloses the receipt of thirty one
thousand doilars from a third party , not an officer ,
director or affiiiate shareholder for the circuiation
of this report . be aware of an inherent confiict of
interest resuiting from such compensation due to the
fact that this is a paid advertisement and is not
without bias . the party that paid us has a position in
the stock they wiil seil at anytime without notice .
this could have a negative impact on the price of the
stock . all factual information in this report was
gathered from pubiic sources , including but not
| imited to company websites and company press
releases . the pubiisher of this newsletter beiieves
this information to be reiiable but can make no
guaranteee as to its accuracy or completeness . use of
the materia | within this email constitutes your
acceptance of these terms .
if you wish to stop future maiiings , or if you feel you have been
wrongfuliy piaced in our list , piease go here
( - stoxo 010 @ yahoo . com - )
| 2005-02-03T00:00:00 |
25,001 | gov ' t guaranteed home business wealth without risk ! ! !
discover the best kept secret in america !
turning $ 300 into $ 20 , 000
in oklahoma , craig
talkington purchased a tax lien on a 5 acre parcel for
$ 300 . the owner failed to pay the taxes and forfeited
the 5 - acre parcel to craig talkington . a short time
later craig sold that property to one of the neighbors
for $ 20 , 000 . that ' s the kind of money that buys new
cars and sends young people to college . craig didn ' t
stop at one deal . he later bought a tax lien for only
$ 17 on a ten acre track , the property owner failed to
pay the taxes , and craig ended up the property , which
he sold for $ 4 , 000 . i don ' t know how much money you
are making right now but these are the kinds of
profits that change peoples lives and solve financial
problems and make things a lot better .
janice knetzger turned a $ 463 . 00 investment into $ 65 , 000 . 00 !
wayne robertson paid $ 1 . 00 for a home !
todd beemer turned a $ 21 , 500 investment into $ 150 , 000 . 00 !
for serious investors and entrepreneurs only
for a
free
consultantion to see if you qualify
fill out
the no obligation form below for more
information .
required input field *
name
*
address
*
city
*
state
*
phone
*
email address
*
* all
tax liens and deeds directly support local
fire departments , police departments , schools ,
roads , and hospitals . thank you for your interest and
support .
to be removed , please
click here .
4589 dfsll - 151 rzeh 9359 iyoc 9 - 006 fl 29 | 1 | spam | gov ' t guaranteed home business | wealth without risk ! ! !
discover the best kept secret in america !
turning $ 300 into $ 20 , 000
in oklahoma , craig
talkington purchased a tax lien on a 5 acre parcel for
$ 300 . the owner failed to pay the taxes and forfeited
the 5 - acre parcel to craig talkington . a short time
later craig sold that property to one of the neighbors
for $ 20 , 000 . that ' s the kind of money that buys new
cars and sends young people to college . craig didn ' t
stop at one deal . he later bought a tax lien for only
$ 17 on a ten acre track , the property owner failed to
pay the taxes , and craig ended up the property , which
he sold for $ 4 , 000 . i don ' t know how much money you
are making right now but these are the kinds of
profits that change peoples lives and solve financial
problems and make things a lot better .
janice knetzger turned a $ 463 . 00 investment into $ 65 , 000 . 00 !
wayne robertson paid $ 1 . 00 for a home !
todd beemer turned a $ 21 , 500 investment into $ 150 , 000 . 00 !
for serious investors and entrepreneurs only
for a
free
consultantion to see if you qualify
fill out
the no obligation form below for more
information .
required input field *
name
*
address
*
city
*
state
*
phone
*
email address
*
* all
tax liens and deeds directly support local
fire departments , police departments , schools ,
roads , and hospitals . thank you for your interest and
support .
to be removed , please
click here .
4589 dfsll - 151 rzeh 9359 iyoc 9 - 006 fl 29 | 2002-12-03T00:00:00 |
9,237 | re : jinbaek kim molly ,
we can pay for the plane ticket .
we have to make sure that we shall extend the same
treatment to other summer interns to avoid
bad feelings .
vince
from : molly magee / enron @ enronxgate on 04 / 25 / 2001 11 : 47 am
to : vince j kaminski / hou / ect @ ect , stinson gibner / hou / ect @ ect
cc :
subject : jinbaek kim
we received some correspondence this morning from jinbaek in which he says he plans to start on june 4 , 2001 . since we are trying to offer a package comparable to that of an associate in the program , i assume we will also pay for his plane ticket here ? ? ? just wanted to check before i contacted him . . . . , so i ' ll wait to hear from you .
thanks ,
molly
x 34804 | 0 | ham | re : jinbaek kim | molly ,
we can pay for the plane ticket .
we have to make sure that we shall extend the same
treatment to other summer interns to avoid
bad feelings .
vince
from : molly magee / enron @ enronxgate on 04 / 25 / 2001 11 : 47 am
to : vince j kaminski / hou / ect @ ect , stinson gibner / hou / ect @ ect
cc :
subject : jinbaek kim
we received some correspondence this morning from jinbaek in which he says he plans to start on june 4 , 2001 . since we are trying to offer a package comparable to that of an associate in the program , i assume we will also pay for his plane ticket here ? ? ? just wanted to check before i contacted him . . . . , so i ' ll wait to hear from you .
thanks ,
molly
x 34804 | 2001-04-25T00:00:00 |
14,049 | rawhide assets louise ,
here is a summary of rawhide issues and assets . this was prepared by global finance origination . i have been informed that the description of the assets needs some minor revisions , so i will send you an updated version as soon as it is available .
thanks ,
brenda funk | 0 | ham | rawhide assets | louise ,
here is a summary of rawhide issues and assets . this was prepared by global finance origination . i have been informed that the description of the assets needs some minor revisions , so i will send you an updated version as soon as it is available .
thanks ,
brenda funk | 2001-11-20T00:00:00 |
33,460 | 7 o % discount medlcations 7 o % discount
medlcationsno prescription needed at all ! we loo % assured no need prescriptionour
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depresssant : prozac , zoloft , paxilmen ' s health : \ / iagra , \ / iagra
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meridia , xenicalsleeping aid : ambienpain
relief : celebrex , vioxx , somadiabetes : glucophagestop
smoking : zybancholesterol : lipitor , zocor - 24 / 7
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depresssant : prozac , zoloft , paxilmen ' s health : \ / iagra , \ / iagra
soft tablet , super \ / iagra ( cialis ) , propecia , levitrawieght loss :
meridia , xenicalsleeping aid : ambienpain
relief : celebrex , vioxx , somadiabetes : glucophagestop
smoking : zybancholesterol : lipitor , zocor - 24 / 7
support - live support for
easy problem solving or questions - order dispatch tracking - package
tracking - re - order discounts ( saavve up to 100 bucks per ordered
product ) - personalized area to the site - we remember what you order , for
eaze of re - ordering - 100 % satisfaction guarantee - cheeap
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| 2005-07-09T00:00:00 |
24,561 | kime oy vereceksiniz ? ?yi g?nler
d?nya gazetesi , i?inde bulundu?umuz siyasi karma?a d?neminin se?imler sonras?nda nas?l bir hal alaca?? konusunda kapsaml? bir ara?t?rma yapmaktad?r . bu ?er?evede toplumumuzun m?mk?n oldu?unca geni? bir kesiminin g?r??lerine ba?vurmay? gerekli g?rd?k .
3 kas?m 2002 tarihinde yap?lmas? ?ng?r?len se?imler sonras?nda siyasi belirsizli?in , dolay?s?yla da ekonomik belirsizli?in sona erip ermeyece?i y?n?nde bir tahmin yapmam?z ve bu konuda kamuoyunu bilgilendirmemiz gerekti?ini d???n?yoruz . sizin de g?r??lerinizi bize iletmeniz anketin sa?l?kl? olmas? ?er?evesinde ?nem ta??maktad?r .
d?nya gazetesi , anketi cevaplayanlar?n kimlikleri konusunda herhangi bir a??klaman?n yap?lmayaca?? , sadece cevaplar?n?n dikkate al?naca?? y?n?nde tam garanti verir . ?lginiz i?in te?ekk?r eder , ?al??malar?n?zda ba?ar?lar dileriz .
anketin , daha geni? kapsaml? olmasi ve b?y?k kitlelere ula?abilmesi i?in ,
tan?d?klar?n?za bu mail ? i g?nderebilirsiniz .
soru 1
se?imde hangi partiye oy vermeyi d???n?yorsunuz ?
soru 2
sizce se?imlerde en ?ok oyu hangi partiler alacak , bir s?ralama yapabilir misiniz ?
soru 3
se?imlerin sonucunu etkileyebilecek temel geli?meler ne olabilir ?
d?nya gazetes? ankara tems?lc?l???
tel : 312 446 99 24
fax : 446 91 54
ankara @ dunyagazetesi . com . tr
- - - -
this sf . net email is sponsored by : thinkgeek
welcome to geek heaven .
http : / / thinkgeek . com / sf
spamassassin - sightings mailing list | 1 | spam | kime oy vereceksiniz ? | ?yi g?nler
d?nya gazetesi , i?inde bulundu?umuz siyasi karma?a d?neminin se?imler sonras?nda nas?l bir hal alaca?? konusunda kapsaml? bir ara?t?rma yapmaktad?r . bu ?er?evede toplumumuzun m?mk?n oldu?unca geni? bir kesiminin g?r??lerine ba?vurmay? gerekli g?rd?k .
3 kas?m 2002 tarihinde yap?lmas? ?ng?r?len se?imler sonras?nda siyasi belirsizli?in , dolay?s?yla da ekonomik belirsizli?in sona erip ermeyece?i y?n?nde bir tahmin yapmam?z ve bu konuda kamuoyunu bilgilendirmemiz gerekti?ini d???n?yoruz . sizin de g?r??lerinizi bize iletmeniz anketin sa?l?kl? olmas? ?er?evesinde ?nem ta??maktad?r .
d?nya gazetesi , anketi cevaplayanlar?n kimlikleri konusunda herhangi bir a??klaman?n yap?lmayaca?? , sadece cevaplar?n?n dikkate al?naca?? y?n?nde tam garanti verir . ?lginiz i?in te?ekk?r eder , ?al??malar?n?zda ba?ar?lar dileriz .
anketin , daha geni? kapsaml? olmasi ve b?y?k kitlelere ula?abilmesi i?in ,
tan?d?klar?n?za bu mail ? i g?nderebilirsiniz .
soru 1
se?imde hangi partiye oy vermeyi d???n?yorsunuz ?
soru 2
sizce se?imlerde en ?ok oyu hangi partiler alacak , bir s?ralama yapabilir misiniz ?
soru 3
se?imlerin sonucunu etkileyebilecek temel geli?meler ne olabilir ?
d?nya gazetes? ankara tems?lc?l???
tel : 312 446 99 24
fax : 446 91 54
ankara @ dunyagazetesi . com . tr
- - - -
this sf . net email is sponsored by : thinkgeek
welcome to geek heaven .
http : / / thinkgeek . com / sf
spamassassin - sightings mailing list
| 2002-07-24T00:00:00 |
19,266 | i couldnt believe it howdy adam there is a country in europe where multiple - choice tests are illegal . - sigfried hulzer
if you want to make an apple pie from scratch you must first create the universe . - carl sagan i am a kind of paranoiac in reverse . i suspect people of plotting to make me happy . j . d . salinger ( 1919 - ) luck is the residue of design . - branch rickey - former owner of the brooklyn dodger baseball team | 1 | spam | i couldnt believe it | howdy adam there is a country in europe where multiple - choice tests are illegal . - sigfried hulzer
if you want to make an apple pie from scratch you must first create the universe . - carl sagan i am a kind of paranoiac in reverse . i suspect people of plotting to make me happy . j . d . salinger ( 1919 - ) luck is the residue of design . - branch rickey - former owner of the brooklyn dodger baseball team
| 2004-07-04T00:00:00 |
14,263 | west power - newco attached please find the file with the revisions for westpower . commercial headcount was reduced from 64 to 52 . the correct list for west power fundies and structuring is included in the " west power " tab along with the traders , originators , etc .
additional comments on the attached :
grace rodriguez was listed as west power commercial admin ; she should be hr admin .
terry donovan was listed in both west power and east power ; he has been deleted from west power .
dale furrow was listed in both east power and west power ; he has been deleted from west power .
dave fuller is listed in gas structuring ; he is a manager in west gas orig .
there are two contract employees in the west which are not included on the list but are important people going forward :
- sonny seaton , west power fundies
- mike tully , west it support , reporting to dave steiner
also , in east power , ben jacoby and fred mitro are listed ; however they believe that they are in workoutco ( they don ' t expect to be part of netco )
chris calger
503 - 464 - 3735 | 0 | ham | west power - newco | attached please find the file with the revisions for westpower . commercial headcount was reduced from 64 to 52 . the correct list for west power fundies and structuring is included in the " west power " tab along with the traders , originators , etc .
additional comments on the attached :
grace rodriguez was listed as west power commercial admin ; she should be hr admin .
terry donovan was listed in both west power and east power ; he has been deleted from west power .
dale furrow was listed in both east power and west power ; he has been deleted from west power .
dave fuller is listed in gas structuring ; he is a manager in west gas orig .
there are two contract employees in the west which are not included on the list but are important people going forward :
- sonny seaton , west power fundies
- mike tully , west it support , reporting to dave steiner
also , in east power , ben jacoby and fred mitro are listed ; however they believe that they are in workoutco ( they don ' t expect to be part of netco )
chris calger
503 - 464 - 3735 | 2001-12-05T00:00:00 |
19,011 | global position systems t o d a y
' s s p e c i a l
visit : www . computron - me . com for deals !
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model
description
price
010 - 00317 - 00
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101
smallest
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wpt , 1 rt / 50 wpt , 2000 tkpt
$ 140 . 00
010 - 00318 - 00
geko 201
smallest waterproof + waas
$ 153 . 00
010 - 00328 - 00
forerunner 201
gps with wristband
$ 161 . 40
010 - 00225 - 00
etrex venture
500 wpt , 1 mb , 20 rt / 50 wpt , 2048 tkpt
$ 178 . 15
010 - 00361 - 00
foretrex 201
$ 178 . 25
010 - 00270 - 00
rino 110
gps + frs / gmrs radio - 1 mb
$ 179 . 00
010 - 00309 - 00
gps 72
500 wpt , 50 rt / 50 wpt , lmb , marine point
$ 180 . 45
010 - 00256 - 00
etrex
legend lk
wpt , 8 mb , highway database , 10 tkpt
$ 203 . 55
010 - 00128 - 00
gps - ii
$ 214 . 00
010 - 00244 - 00
gps 76 lmb - 500 wpt - 2048 trk
$ 214 . 80
010 - 00212 - 00
etrex
summit
500 wpt , 20 rt / 50 wpt , 3 k tkpt , compass
$ 228 . 80
010 - 00319 - 00
geko
301
smallest waterproof + waas + altimeter
$ 229 . 00
010 - 00270 - 02
rino 120
gps + frs / gmrs radio - 8 mb
$ 233 . 00
010 - 00243 - 00
etrex
vista lk wpt , 24 mb , highwaydatabase , 10 tkpt
$ 281 . 50
010 - 00156 - 00
gps
126
gimbal mount system
$ 285 . 55
010 - 00249 - 00
gps map
76
8 mb - 500
wpt - 10 trk
$ 287 . 80
010 - 00157 - 00
gps
128
marine
chartplotter
$ 303 . 40
010 - 00270 - 03
rino
130
500 wp , 24 mb , highway marine data
$ 330 . 40
010 - 00271 - 00
gps map 76 with sensors
24 mb - 500 wpt - 10 trk - compass - altmr
$ 349 . 60
010 - 00226 - 03
gps
v
500
wpt , 19 mb , autoroute , 3 k tkpt
$ 372 . 10
010 - 00191 - 00
gps
162
marine
chartplotter + depth finder
$ 376 . 60
010 - 00322 - 20
gps map
60 c
$ 414 . 20
010 - 00322 - 30
gps map
60 cs
$ 456 . 40
010 - 00264 - 00
ique 3600
palm + gps
$ 498 . 50
010 - 00232 - 10
street
pilot iii gps
500 wpt , navigator , autoroute , 2 k tkpt
$ 524 . 00
010 - 00214 - 00
gps map
176 c
3 k wpt , 50 rt / 50 wpt , american highwat
$ 540 . 25
010 - 00273 - 03
street
pilot 2610 gps
500 wpt , navigator , autoroute , 2 k tkpt
$ 821 . 50
010 - 00357 - 03
street
pilot 2620 gps
$ 1057 . 50
980616 - 06
sportak
$ 169 . 10
980616 - 01
sportak
map
$
192 . 35
980598 - 02
meridian
gold
$ 220 . 55
980616 - 02
sportak
pro
$ 247 . 75
980616 - 24
sportak
pro m
$ 247 . 75
980598 - 04
meridian
marine
$ 267 . 50
980616 - 39
sportak
topo
$ 284 . 00
980598 - 03
meridian
platinum
$ 287 . 35
980616 - 20
sportak
color
$ 311 . 10
980598 - 18
meridian
color
$ 331 . 85
980652 - 09
roadmate
500 +
$ 826 . 60
980652 - 03
roadmate
700
$ 1038 . 35
aao 05215
gps 3450
for ipaq
h 36 , 37 , 38 , 3900 , 5150 , 54 , 55
$
203 . 00
aao 05411
4410 - bluetooth - pocket pc
bluetooth gps for pocket pc
$ 287 . 00
aao 05303
icn
630
in car
navigation
$
574 . 00
accessories
010 - 10117 - 02
black nylon carry case
rino 110 / 120
$
10 . 70
010 - 10234 - 00
rubber protective yellow case
emap
$ 12 . 00
010 - 10314 - 00
carrying case for etrex summit
$ 12 . 00
010 - 10202 - 00
automotive swivel mount - emap
emap
$ 13 . 35
010 - 10235 - 00
leather carrying case
emap
$ 14 . 70
010 - 10199 - 01
dashboard bean bag mount
street pilot
$ 16 . 00
010 - 10259 - 00
vehicle mount - gps 176 c
gps 176 c
$ 16 . 00
010 - 10085 - 00
cigarette lighter adapter - gps iii plus
gps iii plus
$ 18 . 70
010 - 10122 - 00
handlebar mount - gps ii / iii plus
gps ii / iii
plus
$ 20 . 00
010 - 10082 - 00
power / data cable
$ 24 . 00
010 - 10111 - 00
dashboard mount - gps ii / iii plus
gps ii / iii
plus
$ 25 . 35
010 - 10231 - 01
deluxe carrying case
$ 26 . 70
010 - 10048 - 00
swivel mount bracket
for gps
12 , 12 cx , 12 xl , 12 map , 48
$ 28 . 00
010 - 10141 - 00
pc
interface cable
gps iii plus
$ 29 . 35
010 - 10206 - 00
pc
interface cable - etrex / emap
etrex / emap
$ 29 . 35
010 - 10084 - 00
cigarette lighter adapter - gps 12
gps 12
$ 30 . 70
010 - 10203 - 00
cigarette lighter adapter - etrex summit
etrex summit
$ 32 . 00
010 - 10165 - 00
pc
cable cigarette adapter - gps iii +
gps iii plus
$ 34 . 70
010 - 10257 - 00
marine mount - gps 176 c
gps 176 c
$ 34 . 70
010 - 10142 - 00
data
transfer cable / unit to unit
$ 36 . 00
010 - 10164 - 00
pc
cable cigarette adapter - gps 12
gps 12
$ 40 . 00
010 - 10323 - 00
battery charger
$ 41 . 35
010 - 10227 - 00
8 mb
data card
$ 49 . 35
010 - 10118 - 00
transducer
$ 58 . 70
010 - 10226 - 00
16 mb
data card
$ 125 . 35
010 - 10215 - 05
us
waterways lights cd
emap , gps
iii , mapl 2 , gps 48
$ 69 . 35
010 - 10052 - 04
ga
26 c remote vehicle antenna
street pilot , ii plus , iii
plus
$ 77 . 35
010 - 10052 - 05
ga
27 cn antenna
$ 82 . 70
010 - 10226 - 01
32 mb
data card
street
pilot / emap
$ 84 . 00
010 - 10215 - 06
metroguide cd
canada
$ 89 . 35
010 - 10215 - 08
fishing hot spot cd - north america
north
america
$ 98 . 70
010 - 10215 - 00
road / recreation cd - usa
usa
$ 98 . 70
010 - 10215 - 01
mapsource cd - worldmap
world
$ 98 . 70
010 - 10215 - 02
mapsource cd - usa topo
usa topo
$ 98 . 70
010 - 10215 - 03
metroguide cd - usa
usa
$ 104 . 00
010 - 10226 - 02
64 mb
data card
street
pilot / emap
$ 125 . 35
010 - 10215 - 23
16 mb + metroguide cd
street pilot
$ 148 . 00
your one stop
distributorjebel ali duty free zonewww . computron - me . com
for latest clearance sale listing contact our
sales department .
only limited quantities available on selected
specials ! ! ! !
for further details please send
your enquiries to : sales @ computron - me . comor contact via www . computron - me . com
compaq
hewlett packard
3 com
dell
intel
iomega
epson
aopen
creative
toshiba
apc
cisco
us
robotics
microsoft
canon
intellinet
targus
viewsonic
ibm
sony
- - - - - - - and lots more
! ! !
if you have any
complaints / suggestions contact : customerservice @ computron - me . com
tel + 971 4
8834464
all prices in u . s . dollars , ex - works ,
fax + 971 4 8834454
jebel ali duty free zone
www . computron - me . com
prices and availability subject to change
usa - canada
u . a . e .
without
notice .
to receive our special offers
in plain
text format reply to this mail with the
request * for export only *
this email can not be considered spam as long as we include
: contact information remove instructions . this message is intended
for dealer and resellers only . if you have somehow gotten on this list in
error , or for any other reason would like to be removed , please reply with
" remove " in the subject line of your message . this message is being sent
to you in compliance with the federal legislation for commercial e - mail
( h . r . 4176 - section 101 paragraph ( e ) ( 1 ) ( a ) and bill s . 1618 title iii
passed by the 105 th u . s . congress .
all logos and
trademarks are the property of their respective
owners
products may not be exactly as shown
above
- -
to unsubscribe from : computron 2 , just follow this link :
click the link , or copy and paste the address into your browser .
please give it atleast 48 hours for unsubscription to be effective . | 1 | spam | global position systems | t o d a y
' s s p e c i a l
visit : www . computron - me . com for deals !
global
position systems
sku
model
description
price
010 - 00317 - 00
geko
101
smallest
waterproof
$
127 . 40
010 - 00190 - 00
etrex
$ 130 . 50
010 - 00190 - 40
etrex
camuflage
500
wpt , 1 rt / 50 wpt , 2000 tkpt
$ 140 . 00
010 - 00318 - 00
geko 201
smallest waterproof + waas
$ 153 . 00
010 - 00328 - 00
forerunner 201
gps with wristband
$ 161 . 40
010 - 00225 - 00
etrex venture
500 wpt , 1 mb , 20 rt / 50 wpt , 2048 tkpt
$ 178 . 15
010 - 00361 - 00
foretrex 201
$ 178 . 25
010 - 00270 - 00
rino 110
gps + frs / gmrs radio - 1 mb
$ 179 . 00
010 - 00309 - 00
gps 72
500 wpt , 50 rt / 50 wpt , lmb , marine point
$ 180 . 45
010 - 00256 - 00
etrex
legend lk
wpt , 8 mb , highway database , 10 tkpt
$ 203 . 55
010 - 00128 - 00
gps - ii
$ 214 . 00
010 - 00244 - 00
gps 76 lmb - 500 wpt - 2048 trk
$ 214 . 80
010 - 00212 - 00
etrex
summit
500 wpt , 20 rt / 50 wpt , 3 k tkpt , compass
$ 228 . 80
010 - 00319 - 00
geko
301
smallest waterproof + waas + altimeter
$ 229 . 00
010 - 00270 - 02
rino 120
gps + frs / gmrs radio - 8 mb
$ 233 . 00
010 - 00243 - 00
etrex
vista lk wpt , 24 mb , highwaydatabase , 10 tkpt
$ 281 . 50
010 - 00156 - 00
gps
126
gimbal mount system
$ 285 . 55
010 - 00249 - 00
gps map
76
8 mb - 500
wpt - 10 trk
$ 287 . 80
010 - 00157 - 00
gps
128
marine
chartplotter
$ 303 . 40
010 - 00270 - 03
rino
130
500 wp , 24 mb , highway marine data
$ 330 . 40
010 - 00271 - 00
gps map 76 with sensors
24 mb - 500 wpt - 10 trk - compass - altmr
$ 349 . 60
010 - 00226 - 03
gps
v
500
wpt , 19 mb , autoroute , 3 k tkpt
$ 372 . 10
010 - 00191 - 00
gps
162
marine
chartplotter + depth finder
$ 376 . 60
010 - 00322 - 20
gps map
60 c
$ 414 . 20
010 - 00322 - 30
gps map
60 cs
$ 456 . 40
010 - 00264 - 00
ique 3600
palm + gps
$ 498 . 50
010 - 00232 - 10
street
pilot iii gps
500 wpt , navigator , autoroute , 2 k tkpt
$ 524 . 00
010 - 00214 - 00
gps map
176 c
3 k wpt , 50 rt / 50 wpt , american highwat
$ 540 . 25
010 - 00273 - 03
street
pilot 2610 gps
500 wpt , navigator , autoroute , 2 k tkpt
$ 821 . 50
010 - 00357 - 03
street
pilot 2620 gps
$ 1057 . 50
980616 - 06
sportak
$ 169 . 10
980616 - 01
sportak
map
$
192 . 35
980598 - 02
meridian
gold
$ 220 . 55
980616 - 02
sportak
pro
$ 247 . 75
980616 - 24
sportak
pro m
$ 247 . 75
980598 - 04
meridian
marine
$ 267 . 50
980616 - 39
sportak
topo
$ 284 . 00
980598 - 03
meridian
platinum
$ 287 . 35
980616 - 20
sportak
color
$ 311 . 10
980598 - 18
meridian
color
$ 331 . 85
980652 - 09
roadmate
500 +
$ 826 . 60
980652 - 03
roadmate
700
$ 1038 . 35
aao 05215
gps 3450
for ipaq
h 36 , 37 , 38 , 3900 , 5150 , 54 , 55
$
203 . 00
aao 05411
4410 - bluetooth - pocket pc
bluetooth gps for pocket pc
$ 287 . 00
aao 05303
icn
630
in car
navigation
$
574 . 00
accessories
010 - 10117 - 02
black nylon carry case
rino 110 / 120
$
10 . 70
010 - 10234 - 00
rubber protective yellow case
emap
$ 12 . 00
010 - 10314 - 00
carrying case for etrex summit
$ 12 . 00
010 - 10202 - 00
automotive swivel mount - emap
emap
$ 13 . 35
010 - 10235 - 00
leather carrying case
emap
$ 14 . 70
010 - 10199 - 01
dashboard bean bag mount
street pilot
$ 16 . 00
010 - 10259 - 00
vehicle mount - gps 176 c
gps 176 c
$ 16 . 00
010 - 10085 - 00
cigarette lighter adapter - gps iii plus
gps iii plus
$ 18 . 70
010 - 10122 - 00
handlebar mount - gps ii / iii plus
gps ii / iii
plus
$ 20 . 00
010 - 10082 - 00
power / data cable
$ 24 . 00
010 - 10111 - 00
dashboard mount - gps ii / iii plus
gps ii / iii
plus
$ 25 . 35
010 - 10231 - 01
deluxe carrying case
$ 26 . 70
010 - 10048 - 00
swivel mount bracket
for gps
12 , 12 cx , 12 xl , 12 map , 48
$ 28 . 00
010 - 10141 - 00
pc
interface cable
gps iii plus
$ 29 . 35
010 - 10206 - 00
pc
interface cable - etrex / emap
etrex / emap
$ 29 . 35
010 - 10084 - 00
cigarette lighter adapter - gps 12
gps 12
$ 30 . 70
010 - 10203 - 00
cigarette lighter adapter - etrex summit
etrex summit
$ 32 . 00
010 - 10165 - 00
pc
cable cigarette adapter - gps iii +
gps iii plus
$ 34 . 70
010 - 10257 - 00
marine mount - gps 176 c
gps 176 c
$ 34 . 70
010 - 10142 - 00
data
transfer cable / unit to unit
$ 36 . 00
010 - 10164 - 00
pc
cable cigarette adapter - gps 12
gps 12
$ 40 . 00
010 - 10323 - 00
battery charger
$ 41 . 35
010 - 10227 - 00
8 mb
data card
$ 49 . 35
010 - 10118 - 00
transducer
$ 58 . 70
010 - 10226 - 00
16 mb
data card
$ 125 . 35
010 - 10215 - 05
us
waterways lights cd
emap , gps
iii , mapl 2 , gps 48
$ 69 . 35
010 - 10052 - 04
ga
26 c remote vehicle antenna
street pilot , ii plus , iii
plus
$ 77 . 35
010 - 10052 - 05
ga
27 cn antenna
$ 82 . 70
010 - 10226 - 01
32 mb
data card
street
pilot / emap
$ 84 . 00
010 - 10215 - 06
metroguide cd
canada
$ 89 . 35
010 - 10215 - 08
fishing hot spot cd - north america
north
america
$ 98 . 70
010 - 10215 - 00
road / recreation cd - usa
usa
$ 98 . 70
010 - 10215 - 01
mapsource cd - worldmap
world
$ 98 . 70
010 - 10215 - 02
mapsource cd - usa topo
usa topo
$ 98 . 70
010 - 10215 - 03
metroguide cd - usa
usa
$ 104 . 00
010 - 10226 - 02
64 mb
data card
street
pilot / emap
$ 125 . 35
010 - 10215 - 23
16 mb + metroguide cd
street pilot
$ 148 . 00
your one stop
distributorjebel ali duty free zonewww . computron - me . com
for latest clearance sale listing contact our
sales department .
only limited quantities available on selected
specials ! ! ! !
for further details please send
your enquiries to : sales @ computron - me . comor contact via www . computron - me . com
compaq
hewlett packard
3 com
dell
intel
iomega
epson
aopen
creative
toshiba
apc
cisco
us
robotics
microsoft
canon
intellinet
targus
viewsonic
ibm
sony
- - - - - - - and lots more
! ! !
if you have any
complaints / suggestions contact : customerservice @ computron - me . com
tel + 971 4
8834464
all prices in u . s . dollars , ex - works ,
fax + 971 4 8834454
jebel ali duty free zone
www . computron - me . com
prices and availability subject to change
usa - canada
u . a . e .
without
notice .
to receive our special offers
in plain
text format reply to this mail with the
request * for export only *
this email can not be considered spam as long as we include
: contact information remove instructions . this message is intended
for dealer and resellers only . if you have somehow gotten on this list in
error , or for any other reason would like to be removed , please reply with
" remove " in the subject line of your message . this message is being sent
to you in compliance with the federal legislation for commercial e - mail
( h . r . 4176 - section 101 paragraph ( e ) ( 1 ) ( a ) and bill s . 1618 title iii
passed by the 105 th u . s . congress .
all logos and
trademarks are the property of their respective
owners
products may not be exactly as shown
above
- -
to unsubscribe from : computron 2 , just follow this link :
click the link , or copy and paste the address into your browser .
please give it atleast 48 hours for unsubscription to be effective . | 2004-05-26T00:00:00 |
5,670 | updated - restricted list neither ena / rac / egf employees nor family members or others living in their
household or financially dependent on the ena / rac / egf employee may purchase
or sell securities of any entity ( or derivatives thereof ) listed on the
restricted list for your or their personal or related accounts or recommend
the purchase or sale of such securities to any person , except with the prior
approval of the compliance department in consultation with the ena legal
department .
in addition to the trading restrictions above , should you at any time possess
non - public material information about any public company , you , your family
members and anybody that is financially dependent on you , are restricted from
trading in that issue , and you may not disclose the non - public material
information to anyone that does not have a business need to know .
company name stock symbol
3 tec energy corp . tten
adrian resources
beau canada exploration ltd bau cn
belco oil & gas corporation bog
bonus resource services corp bou
brigham exploration bexp
canfibre group ltd . cfgl
carrizo oil & gas inc . crzo
costilla energy cose
crown energy croe
cynet , inc . cyne
cypress energy cyz
esenjay exploration esnj
hanover compressor co . hc
ice drilling enterprises inc . idf
industrial holdings , inc . ihii
inland resources , inc . inln
kafus environmental industries , inc . ks
nakornthai strip mill public co ltd nsm set
paladin resources plc plr ld
paradigm geophysical pgeof
place resources , inc . plg cn
quanta services inc . pwr
queen sand resources , inc . qsri
quicksilver resources inc . kwk
rhythms netconnection inc . rthm
saxon petroleum , inc . sxn cn
startech seh cn
syntroleum corp . synm
tejon ranch corp . trc
titan exploration texp
transcoastal marine services , inc . tcms
zargon oil & gas zar cn
the restricted list is solely for the internal use of ena / rac / egf . no one
may engage in discussions regarding whether a security is or is not on the
restricted list with persons outside ena / rac / egf without specific clearance
from the compliance department in consultation with the ena legal department .
in addition to the above , you are reminded that pursuant to enron corp . ' s
risk management policy ( " policy " ) , no ena / rac / egf employee may engage in the
trading of any " position " ( " position " means any commodity , financial
instrument , security , equity , financial asset or liability that are
authorized for trading in the policy for the benefit of any party other than
ena / rac / egf , whether for his / her own account or the account of any third
party , where such position relates to ( i ) any commodity , financial
instrument , security , equity , financial asset or liability which falls within
such employee ' s responsibility at ena / rac / egf or ( ii ) any energy commodity .
the prohibitions listed above do not replace or modify the policies set forth
in ena ' s policies and procedures regarding confidential information and
securities trading , enron corp . ' s risk management policy , or enron corp . ' s
conduct of business affairs . should you have any questions regarding the
above , please contact me at ext . 31939 . | 0 | ham | updated - restricted list | neither ena / rac / egf employees nor family members or others living in their
household or financially dependent on the ena / rac / egf employee may purchase
or sell securities of any entity ( or derivatives thereof ) listed on the
restricted list for your or their personal or related accounts or recommend
the purchase or sale of such securities to any person , except with the prior
approval of the compliance department in consultation with the ena legal
department .
in addition to the trading restrictions above , should you at any time possess
non - public material information about any public company , you , your family
members and anybody that is financially dependent on you , are restricted from
trading in that issue , and you may not disclose the non - public material
information to anyone that does not have a business need to know .
company name stock symbol
3 tec energy corp . tten
adrian resources
beau canada exploration ltd bau cn
belco oil & gas corporation bog
bonus resource services corp bou
brigham exploration bexp
canfibre group ltd . cfgl
carrizo oil & gas inc . crzo
costilla energy cose
crown energy croe
cynet , inc . cyne
cypress energy cyz
esenjay exploration esnj
hanover compressor co . hc
ice drilling enterprises inc . idf
industrial holdings , inc . ihii
inland resources , inc . inln
kafus environmental industries , inc . ks
nakornthai strip mill public co ltd nsm set
paladin resources plc plr ld
paradigm geophysical pgeof
place resources , inc . plg cn
quanta services inc . pwr
queen sand resources , inc . qsri
quicksilver resources inc . kwk
rhythms netconnection inc . rthm
saxon petroleum , inc . sxn cn
startech seh cn
syntroleum corp . synm
tejon ranch corp . trc
titan exploration texp
transcoastal marine services , inc . tcms
zargon oil & gas zar cn
the restricted list is solely for the internal use of ena / rac / egf . no one
may engage in discussions regarding whether a security is or is not on the
restricted list with persons outside ena / rac / egf without specific clearance
from the compliance department in consultation with the ena legal department .
in addition to the above , you are reminded that pursuant to enron corp . ' s
risk management policy ( " policy " ) , no ena / rac / egf employee may engage in the
trading of any " position " ( " position " means any commodity , financial
instrument , security , equity , financial asset or liability that are
authorized for trading in the policy for the benefit of any party other than
ena / rac / egf , whether for his / her own account or the account of any third
party , where such position relates to ( i ) any commodity , financial
instrument , security , equity , financial asset or liability which falls within
such employee ' s responsibility at ena / rac / egf or ( ii ) any energy commodity .
the prohibitions listed above do not replace or modify the policies set forth
in ena ' s policies and procedures regarding confidential information and
securities trading , enron corp . ' s risk management policy , or enron corp . ' s
conduct of business affairs . should you have any questions regarding the
above , please contact me at ext . 31939 . | 2000-03-07T00:00:00 |
24,718 | let ' s stop the mlm insanity ! still believe you can earn $ 100 , 000 fast in mlm ? get real !
get emm , a brand new system that replaces mlm with something that works !
start earning 1 , 000 ' s now ! up to $ 10 , 000 per week doing simple online tasks .
free info - breakfree @ luxmail . com - type " send emm info " in the subject box .
this message is sent in compliance of the proposed bill section 301 . per section 301 , paragraph ( a ) ( 2 ) ( c ) of s . 1618 . further transmission to you by the sender of this e - mail may be stopped at no cost to you by sending a reply to : " email address " with the word remove in the subject line . | 1 | spam | let ' s stop the mlm insanity ! | still believe you can earn $ 100 , 000 fast in mlm ? get real !
get emm , a brand new system that replaces mlm with something that works !
start earning 1 , 000 ' s now ! up to $ 10 , 000 per week doing simple online tasks .
free info - breakfree @ luxmail . com - type " send emm info " in the subject box .
this message is sent in compliance of the proposed bill section 301 . per section 301 , paragraph ( a ) ( 2 ) ( c ) of s . 1618 . further transmission to you by the sender of this e - mail may be stopped at no cost to you by sending a reply to : " email address " with the word remove in the subject line . | 2002-08-07T00:00:00 |
23,477 | revenue model dart board as promised . . . . | 0 | ham | revenue model dart board | as promised . . . . | 2000-11-01T00:00:00 |
2,855 | re : central power & light no record here and i was here at that time . he may have done it with janet .
daren j farmer
03 / 21 / 2001 01 : 21 pm
to : gary w lamphier / hou / ect @ ect
cc : aimee lannou / hou / ect @ ect
subject : central power & light
gary ,
do you have any record of this ?
d
- - - - - - - - - - - - - - - - - - - - - - forwarded by daren j farmer / hou / ect on 03 / 21 / 2001
01 : 20 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
aimee lannou 03 / 20 / 2001 01 : 38 pm
to : daren j farmer / hou / ect @ ect
cc : juliann kemp / enron @ enronxgate , rebecca griffin / na / enron @ enron
subject : central power & light
daren - was there a deal for 5 . 000 at cp & l on feb . 21 ? cp & l shows 5 . 000 , but
i have looked in mops and there is not a deal . can you verify whether or not
there was a deal for that day ? thanks .
aimee
- - - - - - - - - - - - - - - - - - - - - - forwarded by aimee lannou / hou / ect on 03 / 20 / 2001 01 : 39
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
rebecca griffin @ enron
03 / 20 / 2001 01 : 18 pm
to : aimee lannou / hou / ect @ ect
cc :
subject : central power & light
aimee ,
i received a call from cp & l about the february 2001 production invoice . they
are showing 5 , 000 mmbtu on february 21 for hpl . we are not showing anything
for hpl on that day . could you verify if this is correct ?
thanks for your help .
rebecca | 0 | ham | re : central power & light | no record here and i was here at that time . he may have done it with janet .
daren j farmer
03 / 21 / 2001 01 : 21 pm
to : gary w lamphier / hou / ect @ ect
cc : aimee lannou / hou / ect @ ect
subject : central power & light
gary ,
do you have any record of this ?
d
- - - - - - - - - - - - - - - - - - - - - - forwarded by daren j farmer / hou / ect on 03 / 21 / 2001
01 : 20 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
aimee lannou 03 / 20 / 2001 01 : 38 pm
to : daren j farmer / hou / ect @ ect
cc : juliann kemp / enron @ enronxgate , rebecca griffin / na / enron @ enron
subject : central power & light
daren - was there a deal for 5 . 000 at cp & l on feb . 21 ? cp & l shows 5 . 000 , but
i have looked in mops and there is not a deal . can you verify whether or not
there was a deal for that day ? thanks .
aimee
- - - - - - - - - - - - - - - - - - - - - - forwarded by aimee lannou / hou / ect on 03 / 20 / 2001 01 : 39
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
rebecca griffin @ enron
03 / 20 / 2001 01 : 18 pm
to : aimee lannou / hou / ect @ ect
cc :
subject : central power & light
aimee ,
i received a call from cp & l about the february 2001 production invoice . they
are showing 5 , 000 mmbtu on february 21 for hpl . we are not showing anything
for hpl on that day . could you verify if this is correct ?
thanks for your help .
rebecca | 2001-03-26T00:00:00 |
11,652 | re : weekly update do you need it for this morning ' s meeting ?
- - - - - original message - - - - -
from : kitchen , louise
sent : tuesday , may 01 , 2001 8 : 21 am
to : miller , don
subject : re : weekly update
could you include under the size column an indication of bookable gain - obviously with some assets this will be very rough but please include .
thanks
from : don miller / enron @ enronxgate on 04 / 30 / 2001 07 : 00 pm
to : louise kitchen / hou / ect @ ect
cc :
subject : weekly update
louise ,
as discussed , attached is the first weekly update .
thanks ,
don
> | 0 | ham | re : weekly update | do you need it for this morning ' s meeting ?
- - - - - original message - - - - -
from : kitchen , louise
sent : tuesday , may 01 , 2001 8 : 21 am
to : miller , don
subject : re : weekly update
could you include under the size column an indication of bookable gain - obviously with some assets this will be very rough but please include .
thanks
from : don miller / enron @ enronxgate on 04 / 30 / 2001 07 : 00 pm
to : louise kitchen / hou / ect @ ect
cc :
subject : weekly update
louise ,
as discussed , attached is the first weekly update .
thanks ,
don
> | 2001-05-01T00:00:00 |
3,627 | econnect vpn you have been approved and added to the econnect remote access solution . your user account will be granted remote access permission by it security within 24 hours . please follow the instructions in the attached document .
if you require technical assistance , please call the resolution center at 713 . 853 . 1411 .
thanks ,
mustafa cochinwala | 0 | ham | econnect vpn | you have been approved and added to the econnect remote access solution . your user account will be granted remote access permission by it security within 24 hours . please follow the instructions in the attached document .
if you require technical assistance , please call the resolution center at 713 . 853 . 1411 .
thanks ,
mustafa cochinwala | 2001-12-11T00:00:00 |
30,705 | winning notifications from : the lottery coordinator ,
international promotions / prize award department
attention : third category winner
08 / 12 / 04
dear winner ,
after a successful completion of the third category
draws of euro american lottery , held on 08 th
december , 2004 , we are pleased to inform you of the
official announcement today , that you have emerged one
of the winners of the euro american
lottery / international programs , which is part of our
promotional draws .
participants were selected through a computer ballot
system drawn from 25 , 000 email addresses of
individuals and companies from africa , america , asia ,
australia , canada , europe , middle east , and new
zealand as part of our international promotions
program .
your email , attached to ticket number 714 - 5 - 9827 , with
serial number 14 - 83 drew the lucky numbers 03 , 15 , 23 ,
25 , 35 , 40 , ( 30 ) , and consequently won in the third
category . you have therefore been awarded a lump sum
pay out of 1 . 2 million united state dollars in cash ,
which is the winning payout for each third category
winner . this is from the total prize money of 19 . 2
million united states dollars shared among the sixteen
international winners in the third category .
congratulations .
the entire payout for third category winners amounting
to 19 . 2 million united state dollars is currently
deposited in an escrow account with our corresponding
bank the entire sum insured . to avoid mix up of
numbers and names of any kind , we request that you
keep this award strictly from public notice until the
entire process of transferring your claims has been
completed , and your winnings remitted to you via one
of the payment options available to you . this is part
of our security protocol to avoid double claiming or
unscrupulous acts by participants of this program .
we also wish to bring to your notice our end of year
( 2004 ) high stakes where you stand a chance of winning
up to 5 million united state dollars .
please contact your claims agent immediately , to begin
your claims process ;
mr james phillips
claims dept . manager ,
euro american lottery uk
email : @ winning . com
for due processing and remittance of your prize money ,
remember , you must contact your claims agent to
commence claims process .
note : to avoid unnecessary delays and complications ,
please remember to quote your reference and batch
numbers provided below in every one of
your correspondence with your claims agent .
reference number : e - a - l 549 - 1
batch number : 277 - dt
congratulations once again from all our staff and
thank you
sincerely ,
the lottery coordinator ,
euro american lottery uk .
note : all prize funds must be claimed before the 13 th of december 2004 after this date all funds will be declare unclaimed .
n . b . any breach of confidentiality on the part of the
winners will result to disqualification . please do not
reply to this mail . contact your claims agent .
mail sent from webmail service at php - nuke powered site
- http : / / yoursite . com | 1 | spam | winning notifications | from : the lottery coordinator ,
international promotions / prize award department
attention : third category winner
08 / 12 / 04
dear winner ,
after a successful completion of the third category
draws of euro american lottery , held on 08 th
december , 2004 , we are pleased to inform you of the
official announcement today , that you have emerged one
of the winners of the euro american
lottery / international programs , which is part of our
promotional draws .
participants were selected through a computer ballot
system drawn from 25 , 000 email addresses of
individuals and companies from africa , america , asia ,
australia , canada , europe , middle east , and new
zealand as part of our international promotions
program .
your email , attached to ticket number 714 - 5 - 9827 , with
serial number 14 - 83 drew the lucky numbers 03 , 15 , 23 ,
25 , 35 , 40 , ( 30 ) , and consequently won in the third
category . you have therefore been awarded a lump sum
pay out of 1 . 2 million united state dollars in cash ,
which is the winning payout for each third category
winner . this is from the total prize money of 19 . 2
million united states dollars shared among the sixteen
international winners in the third category .
congratulations .
the entire payout for third category winners amounting
to 19 . 2 million united state dollars is currently
deposited in an escrow account with our corresponding
bank the entire sum insured . to avoid mix up of
numbers and names of any kind , we request that you
keep this award strictly from public notice until the
entire process of transferring your claims has been
completed , and your winnings remitted to you via one
of the payment options available to you . this is part
of our security protocol to avoid double claiming or
unscrupulous acts by participants of this program .
we also wish to bring to your notice our end of year
( 2004 ) high stakes where you stand a chance of winning
up to 5 million united state dollars .
please contact your claims agent immediately , to begin
your claims process ;
mr james phillips
claims dept . manager ,
euro american lottery uk
email : @ winning . com
for due processing and remittance of your prize money ,
remember , you must contact your claims agent to
commence claims process .
note : to avoid unnecessary delays and complications ,
please remember to quote your reference and batch
numbers provided below in every one of
your correspondence with your claims agent .
reference number : e - a - l 549 - 1
batch number : 277 - dt
congratulations once again from all our staff and
thank you
sincerely ,
the lottery coordinator ,
euro american lottery uk .
note : all prize funds must be claimed before the 13 th of december 2004 after this date all funds will be declare unclaimed .
n . b . any breach of confidentiality on the part of the
winners will result to disqualification . please do not
reply to this mail . contact your claims agent .
mail sent from webmail service at php - nuke powered site
- http : / / yoursite . com | 2004-12-08T00:00:00 |
32,737 | waiting for a miracle ? now it ' s so close to you ! hello !
generc vlgr ( $ 1 . 8 o per dose )
vlgr soft tbs ( $ 1 . 99 per dose )
clls ( $ 2 . 99 per dose )
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he that is slow to wrath is of great understanding but he that is hasty of spirit exalteth folly . the fear of the lord is the beginning of knowledge but fools despise wisdom and instruction . yet a little sleep , a little slumber , a little folding of the hands to sleep wise men lay up knowledge but the mouth of the foolish is near destruction . for wisdom is better than rubies and all the things that may be desired are not to be compared to it . | 1 | spam | waiting for a miracle ? now it ' s so close to you ! | hello !
generc vlgr ( $ 1 . 8 o per dose )
vlgr soft tbs ( $ 1 . 99 per dose )
clls ( $ 2 . 99 per dose )
clls soft tbs ( $ 2 . 25 per dose )
he that is slow to wrath is of great understanding but he that is hasty of spirit exalteth folly . the fear of the lord is the beginning of knowledge but fools despise wisdom and instruction . yet a little sleep , a little slumber , a little folding of the hands to sleep wise men lay up knowledge but the mouth of the foolish is near destruction . for wisdom is better than rubies and all the things that may be desired are not to be compared to it .
| 2005-05-05T00:00:00 |
14,124 | enron mentions - 11 / 26 / 01 dynegy seems to have options in enron deal
the wall street journal , 11 / 26 / 01
volatility fell slightly in light holiday trading as enron calls , lilly puts attracted interest
the wall street journal , 11 / 26 / 01
the other instant powerhouse in energy trading
businessweek , 11 / 26 / 01
all eyes on the enron prize if the deal holds , dynegy will walk away with some juicy assets
businessweek , 11 / 26 / 01
confused about earnings ? you ' re not alone . here ' s what companies should do - - and what investors need to know
businessweek , 11 / 26 / 01
end the numbers game
businessweek , 11 / 26 / 01
free and clear of enron ' s woes
businessweek , 11 / 26 / 01
companies & finance international - enron still optimistic of averting financial meltdown .
financial times , 11 / 26 / 01
schwab chief ' s main theme : diversification
the wall street journal , 11 / 26 / 01
enron pursuing a cash infusion energy : company is seeking as much as $ 1 billion as it tries to shore up its endangered acquisition by dynegy .
los angeles times , 11 / 26 / 01
dynegy optimistic that enron merger will succeed - ft
dow jones international news , 11 / 26 / 01
dynegy purchase prompts antitrust concerns , l . a . times says
bloomberg , 11 / 26 / 01
enron hopes for infusion of capital : seeks us $ 500 m as talks of dynegy merger continue
national post , 11 / 26 / 01
india ' s aditya birla not eyeing enron ' s stake in dabhol
dow jones international news , 11 / 26 / 01
the enron scandal
business standard , 11 / 26 / 01
india ' s mehta comments on birla group offer to buy enron stake
bloomberg , 11 / 26 / 01
dynegy seems to have options in enron deal
by rebecca smith and robin sidel
staff reporters of the wall street journal
11 / 26 / 2001
the wall street journal
a 3
( copyright ( c ) 2001 , dow jones & company , inc . )
with the stock market telling dynegy inc . that energy trader enron corp . isn ' t worth even half what dynegy has offered to pay , analysts and investors are paying close attention to the circumstances under which dynegy could bargain a lower price or even walk away from the merger deal .
earlier this month , houston - based dynegy offered to buy its far larger cross - town rival in an all - stock deal that currently values enron shares at $ 10 . 85 apiece , or a total of about $ 9 . 2 billion . but in the wake of post - agreement disclosures by enron that its future earnings are likely to be substantially less than expected , the company ' s stock has been hammered . in 1 p . m . trading on the new york stock exchange on friday , enron shares fell 30 cents to $ 4 . 71 . the stock is down 94 % so far this year and far short of the per - share takeover price . dynegy shares rose 64 cents to $ 40 . 40 .
although dynegy and enron both say they are going ahead with the deal under the terms negotiated , dynegy does appear to have other options . the agreement with enron contains a broad " material adverse change " clause as well as some specific trigger points that could be invoked .
dynegy officials performed " due diligence " throughout the holiday weekend , seeking to learn more about the intimate workings of enron , which has suffered a series of damaging blows . since mid - october , enron has disclosed that some of its officers participated in personally enriching deals that moved assets off enron ' s balance sheet , for a time , to several private partnerships . those deals are now the subject of a securities and exchange commission investigation . past treatment of some of those deals has been termed an " accounting error " by enron and it twice has rejiggered its earnings since oct . 16 . at one point , enron restated downwards nearly five years of earnings .
an enron spokeswoman said the company was proceeding in the belief that the deal would be completed as agreed . dynegy spokesman john sousa said the two sides are forging ahead although he acknowledged that the walk - away provisions " are broad , by design , to ensure adequate protection for dynegy shareholders . " shareholders of both firms must still vote on the merger agreement .
clauses related to a " material adverse change , " also known as a " material adverse effect , " have been the focus of much attention among merger professionals this year , due , in part , to the stock market ' s fluctuations and the economic slowdown that have caused some buyers to reconsider planned acquisitions .
but such clauses rarely are invoked by a buyer or seller because they are considered extremely difficult to prove . both parties typically are reluctant to lay out specific terms for canceling a deal , much the way a bride and groom often balk at negotiating a prenuptial agreement since it appears to envisage a breakup of the marriage even before it begins .
furthermore , a key court case earlier this year affirmed widespread views that a buyer can ' t easily walk away from a merger . in that case , meat - processing concern tyson foods inc . sought to cancel a planned acquisition of meat - packer ibp inc . due to a drop in ibp ' s earnings and a write - down of an ibp subsidiary . but a delaware judge refused to let tyson cancel the pact , saying tyson had been aware of the cyclical nature of ibp ' s business and the accounting issue .
in a lengthy june 18 opinion , delaware chancery court vice chancellor leo e . strine jr . wrote that " . . . the important thing is whether the company has suffered a material adverse effect in its business or results of operations that is consequential to the company ' s earnings power over a commercially reasonable period , which one would think would be measured in years rather than months . "
that interpretation has created ripples in the deal - making community , prompting some transactions to include more details about circumstances under which deals can be terminated . since the sept . 11 attacks , for example , a handful of merger agreements have specified that future terrorist activity would qualify as a " material adverse change , " or mac .
a key issue for any firm alleging there has been a material adverse change is " whether the new facts go to the guts of the strategic opportunity or is it just a hiccup , " says meredith brown , co - chairman of the mergers and acquisitions group at law firm debevoise & plimpton in new york . he adds that a court " may be skeptical " if dynegy claimed that enron ' s post - merger agreement disclosures were a surprise .
the enron - dynegy merger agreement includes several triggers permitting either side to seek termination . enron can quit the deal if it receives a substantially better offer , although it is prohibited from soliciting one . in such a case , it could be required to pay a $ 350 million " topper fee " to dynegy and its co - investor , chevrontexaco inc .
dynegy can alter the deal if enron faces " pending or threatened " litigation liabilities that are " reasonably likely " to cost enron $ 2 billion . if those liabilities hit $ 3 . 5 billion " an enron material event will be deemed to have occurred , " presumably allowing dynegy to call the whole thing off . in some situations , dynegy would be liable for a $ 350 million fee , as well .
karen denne , the enron spokeswoman , said her firm doesn ' t believe that losses arising from the normal course of business would qualify as a material event . the liability must result from litigation . currently , the company faces more than a dozen shareholder suits alleging breach of fiduciary duty by officers and directors , issuing false and misleading reports and other offenses .
deal makers who aren ' t involved in the combination say the steep drop in enron ' s stock price since the merger agreement was signed wouldn ' t by itself give dynegy the ability to cancel the pact or force enron to renegotiate its terms . instead , they say , dynegy would likely have to prove that enron ' s worsening financial condition was an unanticipated event , which could be difficult in light of the company ' s highly publicized problems and dynegy ' s frequent statement that it clearly understands enron ' s businesses . still , there is another standard clause in the merger document that would allow dynegy to terminate the deal if " any representation or warranty of enron shall have become untrue . "
other energy companies have abandoned deals following a widening gap in stock prices that changed an acquisition premium . western resources inc . of topeka , kansas last week sued public service co . of new mexico seeking hundreds of millions of dollars in damages after it failed to buy western ' s utilities . the lawsuit accused public service of breaching its " duty of good faith and fair dealing " and said the new mexico company tried to " sabotage " the deal as the two companies ' stock prices diverged . public service denies the accusations .
copyright ? 2000 dow jones & company , inc . all rights reserved .
options report
volatility fell slightly in light holiday trading as enron calls , lilly puts attracted interest
by cheryl winokur munk
dow jones newswires
11 / 26 / 2001
the wall street journal
b 8
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - - the options market dozed , as many participants stayed home to recover from too much turkey and football .
the chicago board options exchange ' s market volatility index , or vix , which measures certain standard a fall shows investor optimism .
volatility has been dropping from post - sept . 11 levels in recent weeks amid victories over the taliban in afghanistan and interest - rate cuts by the federal reserve and other central banks . vix ranged between 30 and 40 for several weeks following the attacks .
volatility is likely to remain low , said mika toikka , head of options strategy at credit suisse first boston . " typically , going into the thanksgiving and december holidays , we tend to experience a seasonal drift lower in implied volatility . we would expect the same this year , especially in markets outside the u . s . where volatility is still lingering at high levels , " mr . toikka wrote in a recent research note .
the cboe ' s nasdaq volatility index , or vxn , a sentiment barometer for the technology sector , fell 1 . 86 to 50 . 82 while the american stock exchange ' s nasdaq volatility index , or qqv , dropped 1 . 03 to 42 . 74 .
elsewhere in the options market :
calls in enron corp . , the embattled houston energy and trading company , continued to trade briskly , with one investor buying 10 , 000 january 5 calls and simultaneously selling 12 , 250 january 10 calls .
more than 14 , 800 of the january 5 contracts traded , compared with open interest of 3 , 640 , as shares fell 33 cents , or 6 . 6 % , to $ 4 . 68 . these calls cost $ 1 . 40 on the american stock exchange where most of the volume was traded .
more than 15 , 000 of the january 10 contracts traded , compared with open interest of 30 , 674 . these out - of - the - money calls cost 30 cents on the amex .
eli lilly & co . ' s december 80 out - of - the - money puts also were popular friday , as shares fell 91 cents , or 1 . 1 % , to $ 82 . 42 . morgan stanley cut its rating on the company to neutral from outperform , saying the stock has become too expensive even with food and drug administration approval of its potential blockbuster drug xigris , which treats septic infections . more than 3 , 000 of these puts traded , compared with open interest of 6 , 427 . they cost $ 1 . 25 on the cboe , which saw much of the volume .
copyright ? 2000 dow jones & company , inc . all rights reserved .
the corporation : acquisitions
the other instant powerhouse in energy trading
by louise lee in san mateo , calif .
11 / 26 / 2001
businessweek
96
( copyright 2001 mcgraw - hill , inc . )
it ' s not easy being no . 4 . despite a $ 35 billion merger completed in october , chevrontexaco corp . is still not one of the oil superpowers . nor , at more than $ 90 billion a year in revenues , is it a scrappy little guy . so chairman david j . o ' reilly has been searching for a strategy beyond just drilling for more oil and gas .
now , he may have something : a big stake in the no . 1 energy - trading company . chevron corp . has owned 26 % of dynegy inc . since 1996 , and with dynegy ' s planned acquisition of enron corp . , the top energy trader , chevrontexaco is making the oil industry ' s most aggressive push yet into this fast - growing business . it plans to eventually pump $ 2 . 5 billion into the combined dynegy and enron to maintain its 26 % stake , and it might raise that share . so , while chevrontexaco ' s much bigger rivals run small in - house trading operations , energy trading may soon account for more than 10 % of chevrontexaco ' s earnings . ` ` chevron is now positioned to be a leader in the business , ' ' says analyst arjun murti at goldman , sachs the most likely target is a natural - gas company . maybe it ' s not so bad being no . 4 .
illustration : chart : chevron ' s growing cash hoard
copyright ? 2000 dow jones & company , inc . all rights reserved .
the corporation : acquisitions
all eyes on the enron prize if the deal holds , dynegy will walk away with some juicy assets
by stephanie anderson forest , with wendy zellner in dallas , and peter coy and emily thornton in new york
11 / 26 / 2001
businessweek
94
( copyright 2001 mcgraw - hill , inc . )
as houston - based enron corp . imploded amid a dizzying scandal over its finances , few would have blamed dynegy inc . ceo charles l . watson if he had sat back and gloated . after all , watson had watched as his bigger , brasher crosstown rival sniffed at dynegy ' s more cautious strategy , all the while garnering most of the credit for reshaping the energy - trading business .
instead , watson picked up the phone on oct . 24 and called enron chairman , ceo , and longtime acquaintance kenneth l . lay to ask how he could help . lay didn ' t respond immediately , but as enron ' s stock continued to plunge and the company faced a cash squeeze , it became clear what the only realistic answer could be : bail us out .
so two days later , lay invited watson to his river oaks home near downtown houston for breakfast to discuss a deal . over muffins and ` ` a bad cup of coffee ' ' the next day , watson recalls , they sketched the outlines , and by 10 p . m . that night , the investment bankers were called in . on nov . 9 , dynegy announced that it would pay about $ 10 billion , plus the assumption of $ 13 billion in debt , to buy enron , which is nearly four times its size . the key to the deal was dynegy ' s immediate $ 1 . 5 billion infusion of cash to shore up enron ' s balance sheet and save its credit rating . the money came from dynegy ' s 26 % owner , chevrontexaco corp .
without that help , enron - - the seventh - largest u . s . company , based on its $ 100 billion in sales last year - - may well have faced bankruptcy . watson says that he never would have imagined such an outcome in his wildest dreams . ` ` i don ' t think anybody foresaw the problems [ at enron ] , ' ' he says . ` ` it ' s been incredible to watch . ' '
watson , 51 , has to make good on what may well be his riskiest investment yet . if he can pull it off , the new dynegy will have revenues of more than $ 200 billion and $ 90 billion in assets , including more than 22 , 000 megawatts of power - generating capacity and 25 , 000 miles of pipeline . it would control an estimated 20 % to 25 % of the energy - trading market , up from about 6 % now .
that would be sweet vindication for watson ' s strategy . dynegy backs trading operations with hard assets such as power plants , which allows the company to guarantee a supply of electricity to a buyer . in contrast , enron has worked furiously to shed power plants and oil - and gas - generating fields , believing it could earn higher returns using its trading and technology expertise to tap assets owned by others in markets including steel , pulp , and paper . irresistible bargain . as enron ' s stock slid below $ 9 from its august , 2000 , high of $ 90 , it became a bargain that watson couldn ' t pass up . it would have taken years for dynegy to build up a market - making operation to match enron ' s . its risk - management systems are top - of - the - line . enron ' s commercial - services unit , which manages power supplies for corporate customers such as wendy ' s international inc . , is three or four years ahead of dynegy ' s , says steve bergstrom , president of dynegy . watson says he still plans to get rid of the $ 8 billion worth of assets lay had earmarked for sale , including the portland ( ore . ) general electric plant and oil and gas assets in india . for the $ 1 . 5 billion , though , if the deal falls through dynegy will have the right to enron ' s prized northern natural gas pipeline , worth an estimated $ 2 . 25 billion . and dynegy can walk away if enron ' s legal liabilities exceed $ 3 . 5 billion .
watson firmly believes that enron suffered from a crisis of confidence , not a meltdown of its core business . indeed , enron ' s wholesale - trading operation earned $ 2 . 3 billion last year . says watson : ` ` we know the business . we looked under the hood , and guess what ? it ' s just as strong as we thought it was . ' '
but the trading profits were obscured in recent weeks by enron ' s accounting tricks . the biggest danger for watson is that there are other time bombs ticking away . already , the company has slashed its reported earnings since 1997 by $ 591 million , or 20 % of its total , to account for controversial partnerships involving enron officials . the securities some compare it to a fraternity . dynegy ' s decision to issue new stock options to some enron employees may soothe battered egos . it should help , too , that lay decided not to take the $ 60 million golden parachute he could have received in a buyout . as it is , lay will not have a management job with the new company .
dynegy often seemed to be an enron wannabe , following it into online trading and commercial services . still , dynegy ' s 361 % stock gains last year eclipsed enron ' s 87 % rise , and it rankled some that lay ' s execs got more credit . ` ` chuck watson may not have been in the spotlight , but he has always been at the forefront of this business , ' ' says bruce m . withers , who sold his trident ngl inc . to dynegy in 1995 . watson will get more attention next year - - he ' s a 15 % owner of the new houston texans pro football team . but with his bold takeover of enron , watson has ensured that he ' s off the sidelines for good .
photograph : dynegy ' s watson he says enron ' s core business is strong . but others worry that more accounting tricks will turn up photograph by najlah feanny / corbis saba illustration : chart : powering up at dynegy chart by laurel daunis - allen / bw
copyright ? 2000 dow jones & company , inc . all rights reserved .
cover story
confused about earnings ? you ' re not alone . here ' s what companies should do - - and what investors need to know
by nanette byrnes and david henry
with mike mcnamee in washington
11 / 26 / 2001
businessweek
76
( copyright 2001 mcgraw - hill , inc . )
in an age when giant earnings write - offs have become commonplace , it ' s hard to shock wall street . but on nov . 8 , enron corp . managed to do it . after years of high - octane growth that had seen earnings surge by up to 24 % a year , the houston - based energy company acknowledged that results for the past three years were actually overstated by more than a half - billion dollars . it was confirmation of investors ' worst fears . three weeks earlier , enron had announced a big drop in shareholders ' equity , sparking fears that its hideously complex financial statements were distorting its true performance . management pointed to a number of factors , including a dubious decision to exclude the results of three partnerships from its financial statements and a billion - dollar error several years earlier that had inflated the company ' s net worth .
enron may be an extreme example of a company whose performance fell far short of the glowing picture painted by management in its earnings releases , but it is hardly alone . this year , corporate america is expected to charge off a record $ 125 billion , much of it for assets , investments , and inventory that aren ' t worth as much as management thought ( chart , page 79 ) . even if companies don ' t go back and restate earnings , as enron is doing , those charges cast doubt on the record - breaking earnings growth of the late ' 90 s .
not since the 1930 s has the quality of corporate earnings been such an issue - - and so difficult for investors to determine . there ' s more at stake than the fortunes of those who bought shares based on misleading numbers . if even the most sophisticated financial minds can ' t figure out what a company actually earns , that has implications far beyond enron . u . s . financial markets have a reputation for integrity that took decades to build . it has made the u . s . the gold standard for financial reporting and the preeminent place to invest . it has also ensured ready access to capital for u . s . corporations . that a company such as enron , a member of the standard & poor ' s 500 - stock index and one of the largest companies on the new york stock exchange , could fall so far so fast shows how badly that gold standard has been tarnished . ` ` the profession of auditing and accounting is , in fact , in crisis , ' ' says paul a . volcker , former chairman of the federal reserve and now one of the leaders of the international accounting standards board .
sometimes , as in the case of enron , fuzzy numbers result from questionable decisions in figuring net earnings . more often , though , the earnings chaos results from a disturbing trend among companies to calculate profits in their own idiosyncratic ways - - and an increasing willingness among investors and analysts to accept those nonstandard tallies , which appear under a variety of names , from ` ` pro forma ' ' to ` ` core . ' ' ( enron offers its own such version . before investors untangled the importance of enron ' s first announcement , its stock rose briefly because it told investors that its ` ` recurring net income ' ' had met expectations . ) the resulting murk makes it difficult to answer the most basic question in investing : what did my company earn ?
why calculate a second set of earnings in the first place ? because the numbers reached by applying generally accepted accounting principles ( gaap ) are woefully inadequate when it comes to giving investors a good sense of a company ' s prospects . many institutional investors , most wall street analysts , and even many accountants say gaap is irrelevant . ` ` i don ' t know anyone who uses gaap net income anymore for anything , ' ' says lehman brothers inc . accounting expert robert willens . the problem is that gaap includes a lot of noncash charges and one - time expenses . while investors need to be aware of those charges , they also need a number that pertains solely to the performance of ongoing operations .
that ' s what operating earnings are supposed to do . but because they ' re calculated in an ad hoc manner , with each company free to use its own rules , comparisons between companies have become meaningless . ` ` no investor - - certainly not any ordinary investor - - can read these in a way that ' s useful , ' ' says harvey l . pitt , chairman of the securities & exchange commission . the sec is examining whether new rules are needed to clarify financial reports and perhaps restrict use of pro formas .
what ' s badly needed is a set of rules for calculating operating earnings and a requirement to make clear how they relate to net income . in the end , investors need two numbers - - a standardized operating number and an audited net - income number - - and a clear explanation of how to get from one to the other . ` ` out of hand . ' ' a widespread consensus is building to do just that . in early november , s & p proposed a set of rules for companies to follow when tallying operating earnings . only the week before , the financial accounting standards board , the rulemakers for gaap , had announced that they , too , would be taking up this issue . volcker says the international accounting standards board is also seeking a uniform definition of operating earnings .
` ` over the past two or three years , the use of creative earnings measures has grown and grown and grown to the point where it has really gotten out of hand , ' ' says david m . blitzer , s & p ' s chief investment strategist . ` ` earnings are one of the key measures that anybody looks at when they ' re trying to evaluate a company . if people want to use an operating - earnings measure , we better all know what we ' re looking at . ' '
without those standards in place , the gap between earnings according to generally accepted accounting principles and earnings according to wall street is only going to grow wider and more confusing . look at the variance in earnings per share calculated for the s & p 500 for the third quarter : it ' s $ 10 . 78 according to wall street analysts as tallied by thomson financial / first call , $ 9 . 17 according to s & p , and $ 6 . 37 according to numbers reported to the sec under gaap . ( s & p , like businessweek , is owned by the mcgraw - hill companies . )
the lack of a standard measure can be costly to those who choose wrong . use first call ' s earnings for the past four quarters and you get a relatively modest price - earnings ratio of 23 for the s & p 500 . but run the numbers using gaap earnings , and suddenly the market has a far steeper p - e of 38 .
how did we get into this mess ? investors and analysts have been calculating operating earnings for years , and for years , reasonable people could more or less agree on how to do it . then came the dot - com bubble , along with increased pressure from wall street for companies to meet their quarterly earnings forecasts . suddenly , companies that hadn ' t turned a profit by any conventional measure started offering ever more inventive earnings variants . these customized pro forma calculations excluded a grab bag of expenses and allowed upstart companies to show a profit . ` ` tower of babel . ' ' pro forma formulas vary wildly from company to company and even from quarter to quarter within the same company , casting doubt on their validity . and these days , the gulf between net earnings and pro forma earnings is wider than ever . s & p ' s tallies fall between the two : s & p ' s numbers are more systematic than pro forma , but they aren ' t followed widely enough to be a standard . ` ` investors are facing a tower of babel , ' ' says robert k . elliott , former chief of the american institute of certified public accountants ( aicpa ) and a retired kpmg partner . ` ` it ' s not standardized , and the numbers are not audited . ' '
that makes it tough to evaluate a company ' s performance . in the quarter ended on sept . 30 , nortel networks corp . offered shareholders at least three earnings numbers to choose from . by conservative gaap accounting , the telecommunications giant lost $ 1 . 08 a share . the company also provided two possible pro forma options : a 68 cents loss that excluded ` ` special charges , ' ' including some acquisition costs and restructuring charges , and a still better 27 cents loss that further excluded $ 1 . 9 billion of ` ` incremental charges , ' ' such as writing down inventories and increasing provisions for receivables . wall street chose the rosiest one .
confusing ? you bet . companies defend their pro forma calculations by pointing out that they ' re merely filling a void : investors are clamoring for a measure that gives them better insight into their company ' s future . the goal is to get to the core of the business and try to measure the outlook for those operations . ` ` there are good reasons why there is an emphasis on operating earnings , ' ' says volcker . ` ` it is an effort to provide some continuity and some reflection of the underlying progress of the company . ' ' besides , as companies like to point out , they still have to report gaap earnings , and investors are free to ignore everything else .
there ' s no starker lesson in the shortcomings of gaap than the $ 50 billion asset write - downs by jds uniphase corp . , the biggest charge of the year . near the height of the telecom bull market in july , 2000 , the san jose ( calif . ) maker of fiber optics topped off a buying spree by acquiring competitor sdl inc . for $ 41 billion in stock . when the deal closed in february , its assets ballooned from $ 25 billion to $ 65 billion . but by then , shares of jds and other fiber - optics makers were collapsing . to bring its acquisitions into line with their new value , the company took charges of $ 50 billion . despite the fact that the bulk of its losses stemmed from stock transactions and involved no cash paid , gaap required that the charges be taken out of net income . so according to gaap , jds lost $ 56 billion in the fiscal year ending in june - - a staggering figure for a company whose revenues over the past five years added up to only $ 5 billion .
analysts and the company argue that besides not involving cash , the charge - off was all about the past , a right - sizing of values that had gotten out of hand . to analyze the company ' s prospects , they excluded the $ 50 billion charge . ` ` the accounting is not designed to make things look better but to describe what happened , ' ' says jds uniphase chief financial officer anthony r . muller , ` ` and we ' ll live with the consequences , whatever they are . ' ' analysts make a similar defense . ` ` my goal is to figure out what the business is going to produce so that we can value the company , ' ' says lehman brothers analyst arnab chanda . glacial pace . are jds ' s pro forma numbers realistic - - a fair gauge of jds ' s ongoing operations ? right now , it ' s hard for investors to judge . and that ' s the kind of ambiguity s & p and others would like to eliminate . in november , s & p circulated a memo on how to standardize operating earnings . under the proposal , operating earnings would include the costs of purchases , research and development , restructuring costs ( including severance ) , write - downs from ongoing operations , and the cost to the company of stock options . it would exclude merger - and - acquisition expenses , impairment of goodwill , litigation settlements , and the gain or loss on the sale of an asset .
when s & p applied roughly that formula to jds uniphase , it split the difference between wall street and gaap . because of differences in what each group included in their earnings calculations , the results were chaotic . using gaap , the company lost $ 9 . 39 a share . s & p figures it lost $ 3 . 19 , while the company put the loss at 36 cents . meanwhile , wall street says it made 2 cents .
the s & p standard may make sense , but it raises the question : where is the financial accounting standards board , the group in charge of gaap ? chairman edmund l . jenkins says fasb will be addressing the problems . still , investors shouldn ' t expect any improvement soon . the pace of change at fasb tends to be glacial . it typically takes four years to complete a new standard . in 1996 , for example , the board realized that standards on restructuring charges had some big loopholes and it resolved to put the issue on its agenda . in june , 2000 , the board finally issued a draft of a new standard , asked for comments , and held a public hearing . in october , 2001 , the board said it still wasn ' t ready to put a fix in place . now , the recession has set off another wave of restructuring charges , and the fasb still doesn ' t have new rules .
the slow pace means the standard - setters sometimes fail to react to sudden changes in the market . the most recent failure followed the terrorist attacks on september 11 . an fasb task force , unable to come up with a set of rules for separating september 11 costs from general expenses , instead told companies that the disaster could not be treated as an extraordinary item . so gaap earnings include costs stemming from the disaster as part of a company ' s general performance . many companies have nevertheless broken those costs out in their unaudited press releases .
many more are likely to do so in the fourth quarter . indeed , 2001 is shaping up to be one for the record books . a poor economy and the devastating aftereffects of september 11 have resulted in a slew of unusual charges that are unlikely to recur and that no one could have foreseen . but there ' s a growing concern that the earnings fog is providing managers with cover to hide missteps of the past within that vast category of supposedly one - time charges . the temptation will be to take as big a charge as possible now , while investors are braced for bad news . not only can managers sweep away yesterday ' s errors , but tomorrow ' s earnings will look even better .
the basic question comes down to what constitutes a special expense - - a charge so unusual that to include it in the earnings calculation would be to distort the truth about a company ' s performance . usually , big charges fall into a few categories , including charges for laying off workers and restructuring a company , charges for assets that have lost value since they were purchased , charges for investments that have lost value , and charges for inventory that has become obsolete . in a recent study , harvard business school professor mark t . bradshaw found that companies are increasingly calling these charges unusual . that gives them a rationale for excluding them from their pro forma calculations .
lots of critics disagree , saying such charges are often an inevitable part of the business cycle and should be reflected in a company ' s earnings history . they certainly should not be ignored by investors . ` ` charges are real shareholder wealth that ' s been lost , ' ' argues david w . tice , manager of the prudent bear fund , a mutual fund with a pessimistic bent that ' s up 17 % so far this year . ` ` it ' s money they spent on something no longer worth what it was , a correction of past earnings , or a reserve for costs moving forward . whatever the reason , it ' s a real cost to the company , and that hurts shareholders . ' ' without standards , excessive write - offs from operating earnings can obscure actual performance . without any rules , companies calculate operating earnings inconsistently in order to put their companies in the best possible light . dell computer corp . is a good example of this ` ` heads i win , tails you lose ' ' school of accounting . for years , dell benefited from gains in its venture - capital investments and was happy to include those gains in its reported earnings , where they appeared as a separate line on the income statement . but this year , when those gains turned to losses , the computer maker issued pro forma numbers that excluded that $ 260 million drag . dell spokesman michael maher says the company ' s press releases and sec filings break out investment income and give gaap numbers as well as pro forma . ` ` in our view , the numbers are reported clearly , ' ' says maher . ` ` it ' s all out there for the consuming public . ' ' past puffery . many experts believe special charges are a sign that past performance was exaggerated . what should investors make of a company such as gateway inc . ? two restructuring charges in the first and third quarters , minus a small extraordinary gain , totaled $ 1 . 12 billion , or about $ 100 million more than the company made in 1998 , 1999 , and 2000 combined . which is the truer picture of its performance and potential ? the write - offs or the earnings ? write - offs for customer financing are another example . when nortel increased its reserves for credit extended to customers by $ 767 million in september , it effectively admitted it had booked sales in the past to companies that couldn ' t pay - - in effect overstating its performance in those earlier periods . in addition , nortel says booking sales and accounting for credit are unrelated issues . tech companies blame the sharp downturn in their industry for the big write - offs . and these aren ' t isolated examples . peter l . bernstein , publisher of newsletter economics & portfolio strategy , found that from 1989 to 1993 , 20 % of earnings vanished into write - offs .
big charge - offs can also distort future performance . critics contend that excess reserves are often used as a sort of ` ` cookie jar ' ' from which earnings can be taken in future quarters to meet wall street ' s expectations . or charges taken this year , for example , which is apt to be a lousy one for most companies anyway , might include costs that would otherwise have been taken in future periods . prepaying those costs gives a big boost to later earnings . rules for figuring operating earnings would help , but this is an area that will always involve a certain amount of judgment - - and therefore invite a certain amount of abuse . ` ` people are going to write off everything they can in the next two quarters because they ' re having a bad year anyway , ' ' says robert g . atkins , a mercer management consultant .
part of the lure of big special charges is that investors tend to shrug them off , believing that with the bad news out in the open , the company is poised for a brighter future . since gateway detailed its third - quarter charge of $ 571 million on oct . 18 , wall street has bid the stock up 48 % , compared with a 6 % runup for the s & p 500 .
often , though , investors should take exactly the opposite message . if , for example , part of a restructuring involves slashing employee training , information - technology spending , or research and development , the cuts could depress future performance , says baruch lev , a professor of accounting at the stern school of business at new york university . ` ` are these really one - time events ? ' ' he asks . ` ` or is this the beginning of an avalanche ? ' ' indeed , morgan stanley dean witter & co . strategist steve galbraith has found that in the year following a big charge - off to earnings companies have underperformed the stock market by 20 percentage points . ` ` la la land . ' ' investors are apt to be faced with more huge write - offs next year , even if the economy doesn ' t continue to worsen . why ? the transition to a new gaap rule that changes the way companies account for goodwill - - a balance - sheet asset that reflects the amount paid for an acquisition over the net value of the tangible assets . under the new rule , companies will have to assess their properties periodically and decrease their worth on the balance sheet if their value falls . an informal survey by financial executives international of its member controllers and financial officers found that at least a third expect to take more charges .
but figuring out the proper value of those assets is no easy task . unless there is a comparable company or factory with an established market price , valuing them involves a lot of guesswork for which there are no firm rules . ` ` what this is really coming down to is corporations and their auditors coming up with their own tests for impairment , ' ' says the stern school ' s professor paul r . brown . ` ` it ' s la la land . ' '
while the tidal wave of special charges is providing cover for earnings games , it could also be an impetus for change - - especially in the wake of the dot - com fiasco . indeed , there are some signs of a backlash . the real estate investment trust industry was a pioneer of engineered earnings , with its ` ` funds from operations , ' ' or ffo . but now some reits have begun to revert to plain old gaap earnings . hamid r . moghadam , ceo of san francisco - based amb property corp . , shifted back to gaap in 1999 . ` ` the reason i don ' t like ffo is very simple , ' ' says moghadam . ` ` one company ' s numbers look better than another one ' s even if they had identical fundamental results . ' '
there are other steps fasb could take to improve financial reporting and restore gaap ' s status . trevor s . harris , an accounting expert at morgan stanley , says it could force companies to make clear distinctions between income from operations and income from financial transactions . lehman ' s willens says companies should provide more information on cash expenses and how they bear on earnings . an easy step would be to require companies to file their press releases with the sec .
at the least , says lev , companies must clearly explain how their pro forma numbers relate to the gaap numbers . otherwise , he says , investors ` ` see numbers floating there , and where did they come from ? ' ' in today ' s environment of unregulated pro forma calculations and supersize write - offs , no question is more important to investors .
high - gloss glossary
companies are using a variety of accounting practices to put the best spin on
their results . here ' s what those terms mean :
defining earnings :
net income
the bottom line , according to generally accepted accounting principles ( gaap ) .
sometimes called ` ` reported earnings , ' ' these are the numbers the securities &
exchange commission accepts in its filings .
operating earnings
an adjustment of net income that excludes certain costs deemed to be unrelated
to the ongoing business . although it sounds deceptively like a gaap figure
called ` ` operating income ' ' ( revenue minus the costs of doing business ) , it is
not an audited figure .
core earnings
another term for operating earnings . neither core nor operating earnings are
calculated according to set rules . they can include or exclude anything the
preparer wishes .
pro forma earnings
the 1990 s term for operating earnings . popularized by dot - coms , it sometimes
excludes such basic costs as marketing and interest .
ebitda
earnings before interest , taxes , depreciation , and amortization . the
granddaddy of pro forma , it was initially highlighted by industries that
carried high debt loads , such as cable tv , but has since come to be widely
quoted .
adjusted earnings
a new term for pro forma .
defining costs :
special charges
a general term for anything a company wants to highlight as unusual and
therefore to be excluded from future earnings projections .
asset impairments
charges taken to bring something a company paid a high price for down to its
current market value . many companies are now taking these charges on internal
venture - capital funds that bought internet and other high - tech stocks at
inflated prices .
goodwill impairments
the same idea as asset impairments except they ' re used to write down the
premium a company paid over the fair market value of the net tangible assets
acquired . these charges will explode in the first quarter of 2002 because of a
change in mergers - and - acquisitions accounting that eliminates goodwill
amortization and requires holdings to be carried at no more than fair values .
restructuring reserves
an accrued expense ( not usually cash ) to cover future costs of closing down a
portion of a business , a plant , or of firings . these are projected costs and
if overstated can later become a boost to earnings as they are reversed .
write - down
lowering the value of an asset , such as a plant or stock investment . it is
often excused as a bookkeeping exercise , but there may have been a real cost
long ago that now proves ill spent , or there may have been associated cash
costs , such as investment - banking fees .
illustration : chart : the big bath chart by eric hoffmann / bw
illustration : chart : earnings chaos chart by eric hoffmann / bw
copyright ? 2000 dow jones & company , inc . all rights reserved .
editorials
end the numbers game
11 / 26 / 2001
businessweek
130
( copyright 2001 mcgraw - hill , inc . )
what did the company earn ? that ' s the most basic question an investor can ever ask . the equity culture that has generated so much growth over the years depends on a clear answer , but getting one has become impossible . enron corp . just announced that its earnings for the past three years were overstated by half a billion dollars . how did one of the biggest companies on the new york stock exchange manage to inflate its earnings by 20 % without auditors , analysts , ratings agencies , and the business press ( businessweek included ) discovering it ? in part , blame the breakdown of standardized accounting rules and the anarchy that runs rampant in the financial statements of corporate america . the u . s . needs a new set of accounting rules that gives a clear picture of financial performance . without integrity in financial reporting , the u . s . cannot hope to remain the preeminent place to invest in the global marketplace ( page 76 ) .
the dot - com bubble was the first indication that there was something seriously wrong with accounting standards . companies without much of a business model customized their quarterly statements to exclude a grab bag of expenses in order to put a positive financial spin on their operations . wall street conspired in this and encouraged big companies to join in . soon , the method of calculating earnings began to vary from company to company and even from quarter to quarter within a company . it is now chaos .
a stricter adherence to accounting rules won ' t solve the entire problem . gaap , the generally accepted accounting principles , allow all kinds of one - time expenses and noncash charges . this obscures the performance of ongoing operations . no one can fathom what are true operating earnings because there are no guidelines as to what constitutes an extraordinary expense . the result is total confusion . take earnings per share for the standard & poor ' s 500 - stock index for the second quarter . under thomson financial / first call standards , it is $ 11 . 82 . but it ' s $ 9 . 02 according to s & p and $ 4 . 83 under gaap . how can investors make intelligent decisions ?
the financial accounting standards board clearly is failing to do its job . it has promised to write a set of rules that calculates operating earnings and relates them to net earnings , but it hasn ' t delivered . the rating agency standard & poor ' s ( owned by the mcgraw - hill companies , as is businessweek ) is doing a better job . it recently drew up a definition of ` ` operating earnings ' ' that includes restructuring costs ( including severance ) , writedowns from ongoing operations , and the cost of stock options . it excludes merger and acquisition expenses , litigation settlements , impairment of goodwill , and gains or losses on asset sales . this is a beginning that fasb should build on . the accounting anarchy has to end .
copyright ? 2000 dow jones & company , inc . all rights reserved .
up front : afterlives
free and clear of enron ' s woes
edited by sheridan prasso
by stephanie anderson forest
11 / 26 / 2001
businessweek
16
( copyright 2001 mcgraw - hill , inc . )
back in enron ' s heyday , one of its rising stars was rebecca mark . nicknamed ` ` mark the shark ' ' because of her ferocious ambition , she made her name in the early ' 90 s building the energy giant ' s international operations , including the now - troubled dabhol power plant in india . once rumored to be a successor to enron ceo ken lay , she resigned from enron in august , 2000 , after two years of heading enron ' s ailing water company spin - off , azurix .
these days , as enron struggles to stay afloat , mark - jusbasche ( who hyphenated her name with that of her husband of two years ) is watching the action from the sidelines . and she ' d like to keep it that way . ` ` i ' m very surprised and saddened by [ what has happened at enron ] , and i wish them all the best , ' ' she says . beyond that , mark - jusbasche , 47 , is not much interested in talking about enron , which is being acquired by a small rival after a spectacular wall street flameout . mark left enron with millions of dollars worth of enron shares , although she says she has sold them since .
mark - jusbasche spends most of her time serving on advisory boards , both at yale and harvard business schools , as well as the school where her 16 - year - old twin sons from a previous marriage are sophomores .
in her spare time , she seeks out opportunities for investing . currently , mark - jusbasche is considering alternative - energy and water - technology companies . a farm girl from missouri , she has one investment focus that ' s especially dear to her heart : looking into expanding her cattle ranches . she now owns 15 acres in new mexico . ` ` i ' m doing things that are fun , interesting , and important to me - - family and community , ' ' she says . sure beats being anywhere near enron .
photograph : mark : now just a bystander photograph by brett coomer / ap / wide world
copyright ? 2000 dow jones & company , inc . all rights reserved .
companies & finance international - enron still optimistic of averting financial meltdown .
by andrew hill and sheila mcnulty .
11 / 26 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron said yesterday it was still expecting outside investors to inject $ 500 m to $ 1 bn into the group , as talks continued to avoid a financial meltdown at the energy trading group .
dynegy , whose rescue bid for its houston rival is crucial to enron ' s survival , spent last week ' s thanksgiving holiday and the weekend reviewing enron ' s operations and finances .
dynegy said it remained " optimistic for the potential of the merger to be completed , and in the time - frame we originally announced - six to nine months " .
enron ' s fate depends on a delicate , unofficial pact between its lenders , dynegy , and credit ratings agencies , which have resisted downgrading the group ' s debt while the deal is pending .
if the pact stays in place , at least $ 500 m is likely to be invested in enron by jp morgan chase and citigroup , enron ' s key lenders and advisers . a further $ 500 m is being sought from private equity firms .
but if dynegy pulls out of the deal , the cash infusion could be put in jeopardy and the ratings agencies could downgrade the debt to junk , triggering debt repayments across a network of partnerships and off - balance - sheet vehicles linked to enron .
enron confirmed yesterday that it was still seeking additional liquidity from new equity investors , but would not discuss their identities .
enron ' s crisis of confidence became more acute last week when the shares fell from $ 9 to $ 4 . 74 following a regulatory filing that revealed the extent of the group ' s debt burden .
completion of a $ 1 bn secured credit line from jpm chase and citigroup , and the postponement of a $ 690 m notes repayment due tomorrow were not sufficient to prop up the share price . the bonds also fell to levels consistent with a potential bankruptcy filing .
the slide in the share price has encouraged speculation that dynegy is preparing to renegotiate its all - stock bid , now worth $ 9 . 3 bn , compared with enron ' s market value of $ 3 . 5 bn .
but people close to enron say renegotiation of the deal would not in itself have any impact on the energy group ' s finances . latest news , www . ft . com / enron .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
schwab chief ' s main theme : diversification
by lynnette khalfani
dow jones newswires
11 / 26 / 2001
the wall street journal
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - - more than two months after the sept . 11 terrorist attacks , many investors remain edgy . but the stock market , after an initial selloff , has shown remarkable resilience .
few observers expect stock - market volatility to subside soon . still , experts say that now , more than ever , is the time for skittish investors to keep their wits about them .
in a recent interview , charles r . schwab , chairman and co - chief executive of charles schwab & co . , the san francisco - based online and discount brokerage firm , gave his views on what investors should be doing - - and what mistakes they should avoid .
here are some excerpts from the interview :
in the wake of the sept . 11 attacks , how much more risk , if any , do you think is in the financial markets ? or do you think it ' s just that people ' s perceptions about risk have changed ?
i ' ve been investing since 1959 , and i have to say that , year after year , the risk hasn ' t changed . the risk is always there . there ' s risk in investing in stocks , bonds and even u . s . treasuries because of interest - rate [ fluctuations ] . there ' s risk in real estate , too .
so the question is : how do you handle it ? the best way is to diversify . over a long period of time , people who diversify their investments do pretty darned well . when they don ' t . . . sometimes it ' s fatal . if the only stock an investor owned was enron . . . or cisco at 70 , that was pretty fatal .
what do you say to people who say they ' re too scared to invest right now ? that because of the threat of terrorism , the anthrax scares , the war in afghanistan , the recession , and so forth , there ' s just too much uncertainty in the markets ?
i remember back during the cuban missile crisis , we all feared the worst . we were all building bomb shelters . it was a scary time . this terrorist thing is no different . it ' s awful - - particularly for our children . but this country is so wealthy , in terms of its resources , intellectual capital and the strength of our government .
there is no more uncertainty today than in times past . for example , we ' ve had many recessions . it ' s not fun , especially when you begin reading about all these layoffs . in fact , i think the unemployment rate [ now at 5 . 4 % ] pretty easily might get to 6 . 5 % before it gets better . and it probably won ' t get better until march or april . also , the stock market will go up , hopefully before the economy goes up .
there ' s $ 2 trillion sitting in money - market accounts . that ' s a huge resource and buying power that ' s definitely available for new investments .
what do you think is the biggest mistake investors have made over the past two or so months ?
they let their emotions take over . with the fear that people had , they didn ' t use their rational thinking . they used their emotional thinking . [ after sept . 11 ] , they sold at the low , and fear was the driver .
just a year and a half ago , the driving emotion was greed . you ' re not going to avoid this stuff . so the issue is how you manage through these cycles of fear and greed . even when i ' m fearful of something , i say to myself : " this is still the time to invest . "
my biggest worry right now is that people will give up and say , " i just don ' t want to be in the stock market at all . " and it ' s just the time that people should be hanging on and keeping a diversified portfolio .
some other mistakes : a lot of people hang on to the stock that was the poster child of the last cycle . or people say , " i ' ll get back in [ the market ] when i see the economy turn around . " well , by the time they see that , it ' s too late . they will have missed the whole ride back up .
copyright ? 2000 dow jones financial desk
enron pursuing a cash infusion energy : company is seeking as much as $ 1 billion as it tries to shore up its endangered acquisition by dynegy .
from bloomberg news
11 / 26 / 2001
los angeles times
home edition
c - 2
copyright 2001 / the times mirror company
houston - - enron corp . said talks are continuing with potential investors for an infusion of as much as $ 1 billion as the biggest energy trader tries to avoid a collapse of its planned purchase by dynegy inc .
an investment would ease concern that enron ' s weakened finances may prompt dynegy to pull out of or renegotiate the terms of the transaction , which is valued at $ 23 billion in stock and assumed debt .
enron is seeking an additional $ 500 million to $ 1 billion in cash but wouldn ' t divulge details . " we are not going to discuss the particulars of who we are talking to , " enron spokeswoman karen denne said sunday .
shares of the houston company fell by 48 % in the last three trading sessions on the new york stock exchange . at friday ' s closing price of $ 4 . 71 , the stock sells for less than half the $ 10 . 85 that dynegy is slated to pay in the acquisition . that ' s a sign investors are skeptical the transaction will go through as planned .
enron is likely to have approached kohlberg , kravis roberts & co . , blackstone group and carlyle group for a private equity investment , said industry analyst david snow of . net .
the firms have declined to comment .
in a conference call nov . 14 , enron chief financial officer jeffrey mcmahon said the company is in talks with several private investors and expects to receive $ 500 million to $ 1 billion from those sources .
on wednesday , enron got a three - week reprieve from lenders on a $ 690 - million note due this week , gaining more time to restructure its finances . dynegy chief executive chuck watson said he was " encouraged " by the commitment to extend the note payment as well as the closing of a $ 450 - million credit facility . he said dynegy remained committed to the purchase .
enron already received $ 1 . 5 billion in cash nov . 13 from chevrontexaco inc . as part of the dynegy buyout agreement . in return , dynegy received preferred stock and other rights in an enron unit that owns the northern natural gas co . pipeline . under the deal ' s terms , if dynegy and enron fail to merge , dynegy can acquire the pipeline company .
but barron ' s reported over the weekend that dynegy ' s right to the pipeline might be challenged by j . p . morgan chase & co . and salomon smith barney inc . , which accepted the asset as collateral for $ 1 billion in loans to enron .
dynegy spokesman john sousa declined to comment on enron ' s attempts to secure financing or whether more cash for enron is a condition of keeping the merger alive .
enron ' s dealings with affiliated partnerships have led to a federal investigation of the company , which restated its earnings and saw its credit ratings cut .
the company said in a securities and exchange filing a week ago that it has less than $ 2 billion in cash and credit lines left .
copyright ? 2000 dow jones & company , inc . all rights reserved .
dynegy optimistic that enron merger will succeed - ft
11 / 26 / 2001
dow jones international news
( copyright ( c ) 2001 , dow jones + 44 - ( 0 ) 20 - 7842 - 9345 ; sarah . spikes @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
dynegy purchase prompts antitrust concerns , l . a . times says
2001 - 11 - 26 07 : 36 ( new york )
washington , nov . 26 ( bloomberg ) - - california attorney
general bill lockyer is examining dynegy inc . ' s proposed
acquisition of rival energy seller enron corp . for possible
antitrust violations , the los angeles times reported .
the california independent system operator , which manages the
state ' s electric grid , has asked federal regulators to ban dynegy
and other major power sellers , including mirant , and aes corp . ' s
williams cos . , from selling electricity at market prices in the
state , the times said .
throughout the state ' s power crisis , governor gray davis and
other officials accused dynegy , enron and other power companies of
withholding electricity and manipulating the cost of wholesale
power to gouge consumers , the times said .
enron is negotiating with bankers to restructure $ 9 . 15
billion in debt .
` ` i would hope that the people who look at the antitrust
implications would consider this one carefully , ' ' california state
senator steve peace , a democrat , told the times . ` ` if anything ,
dynegy would be in an even stronger position to be able to
manipulate markets than it was before . ' '
financial post : news
enron hopes for infusion of capital : seeks us $ 500 m as talks of dynegy merger continue
andrew hill and sheila mcnulty
financial times
11 / 26 / 2001
national post
national
fp 3
( c ) national post 2001 . all rights reserved .
enron corp . said yesterday it was still expecting outside investors to inject us $ 500 - million to us $ 1 - billion into the group , as talks continued to avoid a financial meltdown at the energy trading group .
dynegy inc . , whose rescue bid for its houston - based rival is crucial to enron ' s survival , spent last week ' s u . s . thanksgiving holiday and the weekend reviewing enron ' s operations and finances .
dynegy said it remained " optimistic for the potential of the merger to be completed , and in the time - frame we originally announced - - six to nine months . "
enron ' s fate depends on a delicate , unofficial pact between its lenders , dynegy , and credit ratings agencies , which have resisted downgrading the group ' s debt while the deal is pending .
if the pact stays in place , at least us $ 500 - million is likely to be invested in enron by jp morgan chase and citigroup , enron ' s key lenders and advisers . a further us $ 500 - million is being sought from private equity firms .
but if dynegy pulls out of the deal , the cash infusion could be put in jeopardy and the ratings agencies could downgrade the debt to junk , triggering debt repayments across a network of partnerships and off - balance - sheet vehicles linked to enron .
enron confirmed yesterday it was still seeking additional liquidity from new equity investors , but would not discuss their identities .
enron ' s crisis of confidence became more acute last week when the shares fell to us $ 4 . 74 from us $ 9 after a regulator filing that revealed the extent of the group ' s debt burden .
completion of a us $ 1 - billion secured credit line from jpm chase and citigroup , and the postponement of a us $ 690 - million notes repayment due tomorrow , were not sufficient to prop up the share price . the bonds also fell to levels consistent with a potential bankruptcy filing .
the slide in the share price has encouraged speculation dynegy is preparing to renegotiate its all - stock bid , now worth us $ 9 . 3 - billion , compared with enron ' s market value of us $ 3 . 5 - billion .
but people close to enron say renegotiation of the deal would not in itself have any impact on the energy group ' s finances .
copyright ? 2000 dow jones & company , inc . all rights reserved .
india ' s aditya birla not eyeing enron ' s stake in dabhol
11 / 26 / 2001
dow jones international news
( copyright ( c ) 2001 , dow jones dow jones newswires ; 91 - 11 - 461 - 9426 ; himendra . kumar @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
the enron scandal
a v rajwade
11 / 26 / 2001
business standard
10
copyright ( c ) business standard
enron has always been recognised by other companies as best practice in risk management . it put in systems to manage risks on a real - time basis and had very strong management . " james lam , founder of erisk , a consulting firm .
as an occasional teacher and more regularly a student of the subject of management of price risks , i have been an admirer of enron ' s elaborate disclosure of its risk management practices . and yet , in a cascade of events over a period of just three weeks from mid - october , it lost two - thirds of its share value , became the subject of a us securities exchange commission ( sec ) investigation , and was taken over by a rival a third in size . ( latest reports create some doubt about whether this will go through . ) what went wrong ?
no , the events had nothing to do with dabhol . indeed , if , for us in india , enron will always be associated with the controversial power project , elsewhere it is likely become a case study for students of accounting , finance and general management . ( on second thoughts , even its indian adventures would make an excellent case study ! )
but first , a recount of what happened . after announcing on october 16 , without much explanation or transparency , that it has taken a charge of $ 1 . 2 billion against equity , enron ' s share price started tumbling . apparently , the charge was the result of some financial transactions , and the sec launched an investigation . the chief financial officer ( cfo ) , who was directly involved with the transactions , the company ' s treasurer and a couple of other senior officials were sacked .
perhaps most damagingly , enron revised its accounts from 1997 onwards , reducing profits by about $ 600 million and increasing debt by a somewhat similar amount . as a result , enron ' s credit rating was downgraded .
it seems the root problem was not in its basic business of power and gas trading , but in its investment activities controlled by the cfo . these comprised private equity , and enron ' s share in each of the investee companies was kept artificially below 50 per cent to avoid consolidation of accounts . to this end , outside investors were brought in and assured of equity in enron itself , should the value of the investee company ( ies ) fall below agreed threshold ( s ) .
all this was done to keep the losses in investments off - balance sheet , and mitigate their impact on reported profits . many other us corporations including j p morgan chase , which had large private equity investments , have suffered on this score ( see world money october 15 ) . enron wanted to avoid this and , last year , paid its since - dismissed cfo $ 30 million for his creative accounting genius .
incidentally , those enamoured of us gaap and its alleged superiority over the rest of the world should note that all these gimmicks were blessed by the company ' s auditors one of the big five firms , which was paid $ 25 million as audit fees and $ 27 million for other services by enron last year .
the restatement of the accounts from 1997 onwards became necessary as the enron management / board and the auditors were forced , on review , to admit that at least some of the transactions should have been on , rather than off , balance sheet . details of all the transactions in question are yet to come out , but what has come out is bad enough .
but this apart , a billion dollar hit for a company of the size ( $ 300 billion ) or cash flow ( $ 3 billion ) of enron is , by itself , hardly a death warrant . but it turned out to be just that for enron .
perhaps because it was too arrogant ? perhaps also because its accounts lacked transparency and their opaqueness ensured that investors ' confidence was always somewhat fragile ?
but there are two other points worth noting : the professionalism of equity analysts and whether the event restores somewhat the balance between trading and producing . as for the first , the professional analysts were surely aware of the opaqueness of the accounts , but few questioned the management aggressively on the subject . perhaps the stock was too glamorous and typified the spirit of the times trading assets was what the " masters of the universe " did , not the boring old business of producing oil or power or cars . the enron management itself was proud of the way it operated in its principal activity of trading in power and gas , with skilling , the former ceo , claming that " we are on the side of angels . we are taking on the entrenched monopolies . we are bringing the benefits of choice and free markets to the world . " ( the quotation is from an interview in businessweek , prior to skilling ' s inglorious exit from enron a couple of weeks before the bubble burst ) .
for the analysts , there was also safety in numbers . skilling claimed that " enron ' s operations are built around the integration of modern financial technologies and physical technologies " , bringing derivatives theory to trading in power and gas ! obviously , the fate of long term capital management has not led to more sober management of trading risks .
surely the role of " markets " should be to reduce the distance , and cost , between producer and consumer ? one does feel that there is something perverse in a society that values , in terms of compensation , the trader ( don ' t forget this is just a euphemism for the speculator ) over the producer whether in the bond , currency or power and gas markets . the markets and , indeed , greed obviously have a role to play , but surely the pendulum needs to swing a little bit to the left ?
copyright ? 2000 dow jones & company , inc . all rights reserved .
india ' s mehta comments on birla group offer to buy enron stake
2001 - 11 - 26 03 : 42 ( new york )
mumbai , nov . 26 ( bloomberg ) - - jaywantiben mehta , india ' s
union minister of state for power , comments on reports of aditya
birla group , which owns grasim industry ltd . , the nation ' s third -
biggest cement maker , bidding for enron ' s stake in dabhol power
co .
enron wants to sell its 65 percent stake in dabhol power ,
india ' s biggest foreign investment , at cost . the project is mired
in a tariff dispute over $ 64 million in bills that haven ' t been
paid by the maharashtra state electricity board , its only
customer , for eight months .
` ` one more bidder will increase competition , which is
welcome .
` ` any step in the national interest is good .
` ` cheap energy is always in the national interest since we
want to increase electricity generation and sell it at a
reasonable price .
` ` i can ' t comment on the time - frame of buying out the enron
stake until the legal wrangles are solved . once that ' s cleared ,
then we will try and clear the proposal quickly . ' '
- - gautam chakravorthy in the mumbai newsroom ( 91 - 22 ) 233 - 9027 | 0 | ham | enron mentions - 11 / 26 / 01 | dynegy seems to have options in enron deal
the wall street journal , 11 / 26 / 01
volatility fell slightly in light holiday trading as enron calls , lilly puts attracted interest
the wall street journal , 11 / 26 / 01
the other instant powerhouse in energy trading
businessweek , 11 / 26 / 01
all eyes on the enron prize if the deal holds , dynegy will walk away with some juicy assets
businessweek , 11 / 26 / 01
confused about earnings ? you ' re not alone . here ' s what companies should do - - and what investors need to know
businessweek , 11 / 26 / 01
end the numbers game
businessweek , 11 / 26 / 01
free and clear of enron ' s woes
businessweek , 11 / 26 / 01
companies & finance international - enron still optimistic of averting financial meltdown .
financial times , 11 / 26 / 01
schwab chief ' s main theme : diversification
the wall street journal , 11 / 26 / 01
enron pursuing a cash infusion energy : company is seeking as much as $ 1 billion as it tries to shore up its endangered acquisition by dynegy .
los angeles times , 11 / 26 / 01
dynegy optimistic that enron merger will succeed - ft
dow jones international news , 11 / 26 / 01
dynegy purchase prompts antitrust concerns , l . a . times says
bloomberg , 11 / 26 / 01
enron hopes for infusion of capital : seeks us $ 500 m as talks of dynegy merger continue
national post , 11 / 26 / 01
india ' s aditya birla not eyeing enron ' s stake in dabhol
dow jones international news , 11 / 26 / 01
the enron scandal
business standard , 11 / 26 / 01
india ' s mehta comments on birla group offer to buy enron stake
bloomberg , 11 / 26 / 01
dynegy seems to have options in enron deal
by rebecca smith and robin sidel
staff reporters of the wall street journal
11 / 26 / 2001
the wall street journal
a 3
( copyright ( c ) 2001 , dow jones & company , inc . )
with the stock market telling dynegy inc . that energy trader enron corp . isn ' t worth even half what dynegy has offered to pay , analysts and investors are paying close attention to the circumstances under which dynegy could bargain a lower price or even walk away from the merger deal .
earlier this month , houston - based dynegy offered to buy its far larger cross - town rival in an all - stock deal that currently values enron shares at $ 10 . 85 apiece , or a total of about $ 9 . 2 billion . but in the wake of post - agreement disclosures by enron that its future earnings are likely to be substantially less than expected , the company ' s stock has been hammered . in 1 p . m . trading on the new york stock exchange on friday , enron shares fell 30 cents to $ 4 . 71 . the stock is down 94 % so far this year and far short of the per - share takeover price . dynegy shares rose 64 cents to $ 40 . 40 .
although dynegy and enron both say they are going ahead with the deal under the terms negotiated , dynegy does appear to have other options . the agreement with enron contains a broad " material adverse change " clause as well as some specific trigger points that could be invoked .
dynegy officials performed " due diligence " throughout the holiday weekend , seeking to learn more about the intimate workings of enron , which has suffered a series of damaging blows . since mid - october , enron has disclosed that some of its officers participated in personally enriching deals that moved assets off enron ' s balance sheet , for a time , to several private partnerships . those deals are now the subject of a securities and exchange commission investigation . past treatment of some of those deals has been termed an " accounting error " by enron and it twice has rejiggered its earnings since oct . 16 . at one point , enron restated downwards nearly five years of earnings .
an enron spokeswoman said the company was proceeding in the belief that the deal would be completed as agreed . dynegy spokesman john sousa said the two sides are forging ahead although he acknowledged that the walk - away provisions " are broad , by design , to ensure adequate protection for dynegy shareholders . " shareholders of both firms must still vote on the merger agreement .
clauses related to a " material adverse change , " also known as a " material adverse effect , " have been the focus of much attention among merger professionals this year , due , in part , to the stock market ' s fluctuations and the economic slowdown that have caused some buyers to reconsider planned acquisitions .
but such clauses rarely are invoked by a buyer or seller because they are considered extremely difficult to prove . both parties typically are reluctant to lay out specific terms for canceling a deal , much the way a bride and groom often balk at negotiating a prenuptial agreement since it appears to envisage a breakup of the marriage even before it begins .
furthermore , a key court case earlier this year affirmed widespread views that a buyer can ' t easily walk away from a merger . in that case , meat - processing concern tyson foods inc . sought to cancel a planned acquisition of meat - packer ibp inc . due to a drop in ibp ' s earnings and a write - down of an ibp subsidiary . but a delaware judge refused to let tyson cancel the pact , saying tyson had been aware of the cyclical nature of ibp ' s business and the accounting issue .
in a lengthy june 18 opinion , delaware chancery court vice chancellor leo e . strine jr . wrote that " . . . the important thing is whether the company has suffered a material adverse effect in its business or results of operations that is consequential to the company ' s earnings power over a commercially reasonable period , which one would think would be measured in years rather than months . "
that interpretation has created ripples in the deal - making community , prompting some transactions to include more details about circumstances under which deals can be terminated . since the sept . 11 attacks , for example , a handful of merger agreements have specified that future terrorist activity would qualify as a " material adverse change , " or mac .
a key issue for any firm alleging there has been a material adverse change is " whether the new facts go to the guts of the strategic opportunity or is it just a hiccup , " says meredith brown , co - chairman of the mergers and acquisitions group at law firm debevoise & plimpton in new york . he adds that a court " may be skeptical " if dynegy claimed that enron ' s post - merger agreement disclosures were a surprise .
the enron - dynegy merger agreement includes several triggers permitting either side to seek termination . enron can quit the deal if it receives a substantially better offer , although it is prohibited from soliciting one . in such a case , it could be required to pay a $ 350 million " topper fee " to dynegy and its co - investor , chevrontexaco inc .
dynegy can alter the deal if enron faces " pending or threatened " litigation liabilities that are " reasonably likely " to cost enron $ 2 billion . if those liabilities hit $ 3 . 5 billion " an enron material event will be deemed to have occurred , " presumably allowing dynegy to call the whole thing off . in some situations , dynegy would be liable for a $ 350 million fee , as well .
karen denne , the enron spokeswoman , said her firm doesn ' t believe that losses arising from the normal course of business would qualify as a material event . the liability must result from litigation . currently , the company faces more than a dozen shareholder suits alleging breach of fiduciary duty by officers and directors , issuing false and misleading reports and other offenses .
deal makers who aren ' t involved in the combination say the steep drop in enron ' s stock price since the merger agreement was signed wouldn ' t by itself give dynegy the ability to cancel the pact or force enron to renegotiate its terms . instead , they say , dynegy would likely have to prove that enron ' s worsening financial condition was an unanticipated event , which could be difficult in light of the company ' s highly publicized problems and dynegy ' s frequent statement that it clearly understands enron ' s businesses . still , there is another standard clause in the merger document that would allow dynegy to terminate the deal if " any representation or warranty of enron shall have become untrue . "
other energy companies have abandoned deals following a widening gap in stock prices that changed an acquisition premium . western resources inc . of topeka , kansas last week sued public service co . of new mexico seeking hundreds of millions of dollars in damages after it failed to buy western ' s utilities . the lawsuit accused public service of breaching its " duty of good faith and fair dealing " and said the new mexico company tried to " sabotage " the deal as the two companies ' stock prices diverged . public service denies the accusations .
copyright ? 2000 dow jones & company , inc . all rights reserved .
options report
volatility fell slightly in light holiday trading as enron calls , lilly puts attracted interest
by cheryl winokur munk
dow jones newswires
11 / 26 / 2001
the wall street journal
b 8
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - - the options market dozed , as many participants stayed home to recover from too much turkey and football .
the chicago board options exchange ' s market volatility index , or vix , which measures certain standard a fall shows investor optimism .
volatility has been dropping from post - sept . 11 levels in recent weeks amid victories over the taliban in afghanistan and interest - rate cuts by the federal reserve and other central banks . vix ranged between 30 and 40 for several weeks following the attacks .
volatility is likely to remain low , said mika toikka , head of options strategy at credit suisse first boston . " typically , going into the thanksgiving and december holidays , we tend to experience a seasonal drift lower in implied volatility . we would expect the same this year , especially in markets outside the u . s . where volatility is still lingering at high levels , " mr . toikka wrote in a recent research note .
the cboe ' s nasdaq volatility index , or vxn , a sentiment barometer for the technology sector , fell 1 . 86 to 50 . 82 while the american stock exchange ' s nasdaq volatility index , or qqv , dropped 1 . 03 to 42 . 74 .
elsewhere in the options market :
calls in enron corp . , the embattled houston energy and trading company , continued to trade briskly , with one investor buying 10 , 000 january 5 calls and simultaneously selling 12 , 250 january 10 calls .
more than 14 , 800 of the january 5 contracts traded , compared with open interest of 3 , 640 , as shares fell 33 cents , or 6 . 6 % , to $ 4 . 68 . these calls cost $ 1 . 40 on the american stock exchange where most of the volume was traded .
more than 15 , 000 of the january 10 contracts traded , compared with open interest of 30 , 674 . these out - of - the - money calls cost 30 cents on the amex .
eli lilly & co . ' s december 80 out - of - the - money puts also were popular friday , as shares fell 91 cents , or 1 . 1 % , to $ 82 . 42 . morgan stanley cut its rating on the company to neutral from outperform , saying the stock has become too expensive even with food and drug administration approval of its potential blockbuster drug xigris , which treats septic infections . more than 3 , 000 of these puts traded , compared with open interest of 6 , 427 . they cost $ 1 . 25 on the cboe , which saw much of the volume .
copyright ? 2000 dow jones & company , inc . all rights reserved .
the corporation : acquisitions
the other instant powerhouse in energy trading
by louise lee in san mateo , calif .
11 / 26 / 2001
businessweek
96
( copyright 2001 mcgraw - hill , inc . )
it ' s not easy being no . 4 . despite a $ 35 billion merger completed in october , chevrontexaco corp . is still not one of the oil superpowers . nor , at more than $ 90 billion a year in revenues , is it a scrappy little guy . so chairman david j . o ' reilly has been searching for a strategy beyond just drilling for more oil and gas .
now , he may have something : a big stake in the no . 1 energy - trading company . chevron corp . has owned 26 % of dynegy inc . since 1996 , and with dynegy ' s planned acquisition of enron corp . , the top energy trader , chevrontexaco is making the oil industry ' s most aggressive push yet into this fast - growing business . it plans to eventually pump $ 2 . 5 billion into the combined dynegy and enron to maintain its 26 % stake , and it might raise that share . so , while chevrontexaco ' s much bigger rivals run small in - house trading operations , energy trading may soon account for more than 10 % of chevrontexaco ' s earnings . ` ` chevron is now positioned to be a leader in the business , ' ' says analyst arjun murti at goldman , sachs the most likely target is a natural - gas company . maybe it ' s not so bad being no . 4 .
illustration : chart : chevron ' s growing cash hoard
copyright ? 2000 dow jones & company , inc . all rights reserved .
the corporation : acquisitions
all eyes on the enron prize if the deal holds , dynegy will walk away with some juicy assets
by stephanie anderson forest , with wendy zellner in dallas , and peter coy and emily thornton in new york
11 / 26 / 2001
businessweek
94
( copyright 2001 mcgraw - hill , inc . )
as houston - based enron corp . imploded amid a dizzying scandal over its finances , few would have blamed dynegy inc . ceo charles l . watson if he had sat back and gloated . after all , watson had watched as his bigger , brasher crosstown rival sniffed at dynegy ' s more cautious strategy , all the while garnering most of the credit for reshaping the energy - trading business .
instead , watson picked up the phone on oct . 24 and called enron chairman , ceo , and longtime acquaintance kenneth l . lay to ask how he could help . lay didn ' t respond immediately , but as enron ' s stock continued to plunge and the company faced a cash squeeze , it became clear what the only realistic answer could be : bail us out .
so two days later , lay invited watson to his river oaks home near downtown houston for breakfast to discuss a deal . over muffins and ` ` a bad cup of coffee ' ' the next day , watson recalls , they sketched the outlines , and by 10 p . m . that night , the investment bankers were called in . on nov . 9 , dynegy announced that it would pay about $ 10 billion , plus the assumption of $ 13 billion in debt , to buy enron , which is nearly four times its size . the key to the deal was dynegy ' s immediate $ 1 . 5 billion infusion of cash to shore up enron ' s balance sheet and save its credit rating . the money came from dynegy ' s 26 % owner , chevrontexaco corp .
without that help , enron - - the seventh - largest u . s . company , based on its $ 100 billion in sales last year - - may well have faced bankruptcy . watson says that he never would have imagined such an outcome in his wildest dreams . ` ` i don ' t think anybody foresaw the problems [ at enron ] , ' ' he says . ` ` it ' s been incredible to watch . ' '
watson , 51 , has to make good on what may well be his riskiest investment yet . if he can pull it off , the new dynegy will have revenues of more than $ 200 billion and $ 90 billion in assets , including more than 22 , 000 megawatts of power - generating capacity and 25 , 000 miles of pipeline . it would control an estimated 20 % to 25 % of the energy - trading market , up from about 6 % now .
that would be sweet vindication for watson ' s strategy . dynegy backs trading operations with hard assets such as power plants , which allows the company to guarantee a supply of electricity to a buyer . in contrast , enron has worked furiously to shed power plants and oil - and gas - generating fields , believing it could earn higher returns using its trading and technology expertise to tap assets owned by others in markets including steel , pulp , and paper . irresistible bargain . as enron ' s stock slid below $ 9 from its august , 2000 , high of $ 90 , it became a bargain that watson couldn ' t pass up . it would have taken years for dynegy to build up a market - making operation to match enron ' s . its risk - management systems are top - of - the - line . enron ' s commercial - services unit , which manages power supplies for corporate customers such as wendy ' s international inc . , is three or four years ahead of dynegy ' s , says steve bergstrom , president of dynegy . watson says he still plans to get rid of the $ 8 billion worth of assets lay had earmarked for sale , including the portland ( ore . ) general electric plant and oil and gas assets in india . for the $ 1 . 5 billion , though , if the deal falls through dynegy will have the right to enron ' s prized northern natural gas pipeline , worth an estimated $ 2 . 25 billion . and dynegy can walk away if enron ' s legal liabilities exceed $ 3 . 5 billion .
watson firmly believes that enron suffered from a crisis of confidence , not a meltdown of its core business . indeed , enron ' s wholesale - trading operation earned $ 2 . 3 billion last year . says watson : ` ` we know the business . we looked under the hood , and guess what ? it ' s just as strong as we thought it was . ' '
but the trading profits were obscured in recent weeks by enron ' s accounting tricks . the biggest danger for watson is that there are other time bombs ticking away . already , the company has slashed its reported earnings since 1997 by $ 591 million , or 20 % of its total , to account for controversial partnerships involving enron officials . the securities some compare it to a fraternity . dynegy ' s decision to issue new stock options to some enron employees may soothe battered egos . it should help , too , that lay decided not to take the $ 60 million golden parachute he could have received in a buyout . as it is , lay will not have a management job with the new company .
dynegy often seemed to be an enron wannabe , following it into online trading and commercial services . still , dynegy ' s 361 % stock gains last year eclipsed enron ' s 87 % rise , and it rankled some that lay ' s execs got more credit . ` ` chuck watson may not have been in the spotlight , but he has always been at the forefront of this business , ' ' says bruce m . withers , who sold his trident ngl inc . to dynegy in 1995 . watson will get more attention next year - - he ' s a 15 % owner of the new houston texans pro football team . but with his bold takeover of enron , watson has ensured that he ' s off the sidelines for good .
photograph : dynegy ' s watson he says enron ' s core business is strong . but others worry that more accounting tricks will turn up photograph by najlah feanny / corbis saba illustration : chart : powering up at dynegy chart by laurel daunis - allen / bw
copyright ? 2000 dow jones & company , inc . all rights reserved .
cover story
confused about earnings ? you ' re not alone . here ' s what companies should do - - and what investors need to know
by nanette byrnes and david henry
with mike mcnamee in washington
11 / 26 / 2001
businessweek
76
( copyright 2001 mcgraw - hill , inc . )
in an age when giant earnings write - offs have become commonplace , it ' s hard to shock wall street . but on nov . 8 , enron corp . managed to do it . after years of high - octane growth that had seen earnings surge by up to 24 % a year , the houston - based energy company acknowledged that results for the past three years were actually overstated by more than a half - billion dollars . it was confirmation of investors ' worst fears . three weeks earlier , enron had announced a big drop in shareholders ' equity , sparking fears that its hideously complex financial statements were distorting its true performance . management pointed to a number of factors , including a dubious decision to exclude the results of three partnerships from its financial statements and a billion - dollar error several years earlier that had inflated the company ' s net worth .
enron may be an extreme example of a company whose performance fell far short of the glowing picture painted by management in its earnings releases , but it is hardly alone . this year , corporate america is expected to charge off a record $ 125 billion , much of it for assets , investments , and inventory that aren ' t worth as much as management thought ( chart , page 79 ) . even if companies don ' t go back and restate earnings , as enron is doing , those charges cast doubt on the record - breaking earnings growth of the late ' 90 s .
not since the 1930 s has the quality of corporate earnings been such an issue - - and so difficult for investors to determine . there ' s more at stake than the fortunes of those who bought shares based on misleading numbers . if even the most sophisticated financial minds can ' t figure out what a company actually earns , that has implications far beyond enron . u . s . financial markets have a reputation for integrity that took decades to build . it has made the u . s . the gold standard for financial reporting and the preeminent place to invest . it has also ensured ready access to capital for u . s . corporations . that a company such as enron , a member of the standard & poor ' s 500 - stock index and one of the largest companies on the new york stock exchange , could fall so far so fast shows how badly that gold standard has been tarnished . ` ` the profession of auditing and accounting is , in fact , in crisis , ' ' says paul a . volcker , former chairman of the federal reserve and now one of the leaders of the international accounting standards board .
sometimes , as in the case of enron , fuzzy numbers result from questionable decisions in figuring net earnings . more often , though , the earnings chaos results from a disturbing trend among companies to calculate profits in their own idiosyncratic ways - - and an increasing willingness among investors and analysts to accept those nonstandard tallies , which appear under a variety of names , from ` ` pro forma ' ' to ` ` core . ' ' ( enron offers its own such version . before investors untangled the importance of enron ' s first announcement , its stock rose briefly because it told investors that its ` ` recurring net income ' ' had met expectations . ) the resulting murk makes it difficult to answer the most basic question in investing : what did my company earn ?
why calculate a second set of earnings in the first place ? because the numbers reached by applying generally accepted accounting principles ( gaap ) are woefully inadequate when it comes to giving investors a good sense of a company ' s prospects . many institutional investors , most wall street analysts , and even many accountants say gaap is irrelevant . ` ` i don ' t know anyone who uses gaap net income anymore for anything , ' ' says lehman brothers inc . accounting expert robert willens . the problem is that gaap includes a lot of noncash charges and one - time expenses . while investors need to be aware of those charges , they also need a number that pertains solely to the performance of ongoing operations .
that ' s what operating earnings are supposed to do . but because they ' re calculated in an ad hoc manner , with each company free to use its own rules , comparisons between companies have become meaningless . ` ` no investor - - certainly not any ordinary investor - - can read these in a way that ' s useful , ' ' says harvey l . pitt , chairman of the securities & exchange commission . the sec is examining whether new rules are needed to clarify financial reports and perhaps restrict use of pro formas .
what ' s badly needed is a set of rules for calculating operating earnings and a requirement to make clear how they relate to net income . in the end , investors need two numbers - - a standardized operating number and an audited net - income number - - and a clear explanation of how to get from one to the other . ` ` out of hand . ' ' a widespread consensus is building to do just that . in early november , s & p proposed a set of rules for companies to follow when tallying operating earnings . only the week before , the financial accounting standards board , the rulemakers for gaap , had announced that they , too , would be taking up this issue . volcker says the international accounting standards board is also seeking a uniform definition of operating earnings .
` ` over the past two or three years , the use of creative earnings measures has grown and grown and grown to the point where it has really gotten out of hand , ' ' says david m . blitzer , s & p ' s chief investment strategist . ` ` earnings are one of the key measures that anybody looks at when they ' re trying to evaluate a company . if people want to use an operating - earnings measure , we better all know what we ' re looking at . ' '
without those standards in place , the gap between earnings according to generally accepted accounting principles and earnings according to wall street is only going to grow wider and more confusing . look at the variance in earnings per share calculated for the s & p 500 for the third quarter : it ' s $ 10 . 78 according to wall street analysts as tallied by thomson financial / first call , $ 9 . 17 according to s & p , and $ 6 . 37 according to numbers reported to the sec under gaap . ( s & p , like businessweek , is owned by the mcgraw - hill companies . )
the lack of a standard measure can be costly to those who choose wrong . use first call ' s earnings for the past four quarters and you get a relatively modest price - earnings ratio of 23 for the s & p 500 . but run the numbers using gaap earnings , and suddenly the market has a far steeper p - e of 38 .
how did we get into this mess ? investors and analysts have been calculating operating earnings for years , and for years , reasonable people could more or less agree on how to do it . then came the dot - com bubble , along with increased pressure from wall street for companies to meet their quarterly earnings forecasts . suddenly , companies that hadn ' t turned a profit by any conventional measure started offering ever more inventive earnings variants . these customized pro forma calculations excluded a grab bag of expenses and allowed upstart companies to show a profit . ` ` tower of babel . ' ' pro forma formulas vary wildly from company to company and even from quarter to quarter within the same company , casting doubt on their validity . and these days , the gulf between net earnings and pro forma earnings is wider than ever . s & p ' s tallies fall between the two : s & p ' s numbers are more systematic than pro forma , but they aren ' t followed widely enough to be a standard . ` ` investors are facing a tower of babel , ' ' says robert k . elliott , former chief of the american institute of certified public accountants ( aicpa ) and a retired kpmg partner . ` ` it ' s not standardized , and the numbers are not audited . ' '
that makes it tough to evaluate a company ' s performance . in the quarter ended on sept . 30 , nortel networks corp . offered shareholders at least three earnings numbers to choose from . by conservative gaap accounting , the telecommunications giant lost $ 1 . 08 a share . the company also provided two possible pro forma options : a 68 cents loss that excluded ` ` special charges , ' ' including some acquisition costs and restructuring charges , and a still better 27 cents loss that further excluded $ 1 . 9 billion of ` ` incremental charges , ' ' such as writing down inventories and increasing provisions for receivables . wall street chose the rosiest one .
confusing ? you bet . companies defend their pro forma calculations by pointing out that they ' re merely filling a void : investors are clamoring for a measure that gives them better insight into their company ' s future . the goal is to get to the core of the business and try to measure the outlook for those operations . ` ` there are good reasons why there is an emphasis on operating earnings , ' ' says volcker . ` ` it is an effort to provide some continuity and some reflection of the underlying progress of the company . ' ' besides , as companies like to point out , they still have to report gaap earnings , and investors are free to ignore everything else .
there ' s no starker lesson in the shortcomings of gaap than the $ 50 billion asset write - downs by jds uniphase corp . , the biggest charge of the year . near the height of the telecom bull market in july , 2000 , the san jose ( calif . ) maker of fiber optics topped off a buying spree by acquiring competitor sdl inc . for $ 41 billion in stock . when the deal closed in february , its assets ballooned from $ 25 billion to $ 65 billion . but by then , shares of jds and other fiber - optics makers were collapsing . to bring its acquisitions into line with their new value , the company took charges of $ 50 billion . despite the fact that the bulk of its losses stemmed from stock transactions and involved no cash paid , gaap required that the charges be taken out of net income . so according to gaap , jds lost $ 56 billion in the fiscal year ending in june - - a staggering figure for a company whose revenues over the past five years added up to only $ 5 billion .
analysts and the company argue that besides not involving cash , the charge - off was all about the past , a right - sizing of values that had gotten out of hand . to analyze the company ' s prospects , they excluded the $ 50 billion charge . ` ` the accounting is not designed to make things look better but to describe what happened , ' ' says jds uniphase chief financial officer anthony r . muller , ` ` and we ' ll live with the consequences , whatever they are . ' ' analysts make a similar defense . ` ` my goal is to figure out what the business is going to produce so that we can value the company , ' ' says lehman brothers analyst arnab chanda . glacial pace . are jds ' s pro forma numbers realistic - - a fair gauge of jds ' s ongoing operations ? right now , it ' s hard for investors to judge . and that ' s the kind of ambiguity s & p and others would like to eliminate . in november , s & p circulated a memo on how to standardize operating earnings . under the proposal , operating earnings would include the costs of purchases , research and development , restructuring costs ( including severance ) , write - downs from ongoing operations , and the cost to the company of stock options . it would exclude merger - and - acquisition expenses , impairment of goodwill , litigation settlements , and the gain or loss on the sale of an asset .
when s & p applied roughly that formula to jds uniphase , it split the difference between wall street and gaap . because of differences in what each group included in their earnings calculations , the results were chaotic . using gaap , the company lost $ 9 . 39 a share . s & p figures it lost $ 3 . 19 , while the company put the loss at 36 cents . meanwhile , wall street says it made 2 cents .
the s & p standard may make sense , but it raises the question : where is the financial accounting standards board , the group in charge of gaap ? chairman edmund l . jenkins says fasb will be addressing the problems . still , investors shouldn ' t expect any improvement soon . the pace of change at fasb tends to be glacial . it typically takes four years to complete a new standard . in 1996 , for example , the board realized that standards on restructuring charges had some big loopholes and it resolved to put the issue on its agenda . in june , 2000 , the board finally issued a draft of a new standard , asked for comments , and held a public hearing . in october , 2001 , the board said it still wasn ' t ready to put a fix in place . now , the recession has set off another wave of restructuring charges , and the fasb still doesn ' t have new rules .
the slow pace means the standard - setters sometimes fail to react to sudden changes in the market . the most recent failure followed the terrorist attacks on september 11 . an fasb task force , unable to come up with a set of rules for separating september 11 costs from general expenses , instead told companies that the disaster could not be treated as an extraordinary item . so gaap earnings include costs stemming from the disaster as part of a company ' s general performance . many companies have nevertheless broken those costs out in their unaudited press releases .
many more are likely to do so in the fourth quarter . indeed , 2001 is shaping up to be one for the record books . a poor economy and the devastating aftereffects of september 11 have resulted in a slew of unusual charges that are unlikely to recur and that no one could have foreseen . but there ' s a growing concern that the earnings fog is providing managers with cover to hide missteps of the past within that vast category of supposedly one - time charges . the temptation will be to take as big a charge as possible now , while investors are braced for bad news . not only can managers sweep away yesterday ' s errors , but tomorrow ' s earnings will look even better .
the basic question comes down to what constitutes a special expense - - a charge so unusual that to include it in the earnings calculation would be to distort the truth about a company ' s performance . usually , big charges fall into a few categories , including charges for laying off workers and restructuring a company , charges for assets that have lost value since they were purchased , charges for investments that have lost value , and charges for inventory that has become obsolete . in a recent study , harvard business school professor mark t . bradshaw found that companies are increasingly calling these charges unusual . that gives them a rationale for excluding them from their pro forma calculations .
lots of critics disagree , saying such charges are often an inevitable part of the business cycle and should be reflected in a company ' s earnings history . they certainly should not be ignored by investors . ` ` charges are real shareholder wealth that ' s been lost , ' ' argues david w . tice , manager of the prudent bear fund , a mutual fund with a pessimistic bent that ' s up 17 % so far this year . ` ` it ' s money they spent on something no longer worth what it was , a correction of past earnings , or a reserve for costs moving forward . whatever the reason , it ' s a real cost to the company , and that hurts shareholders . ' ' without standards , excessive write - offs from operating earnings can obscure actual performance . without any rules , companies calculate operating earnings inconsistently in order to put their companies in the best possible light . dell computer corp . is a good example of this ` ` heads i win , tails you lose ' ' school of accounting . for years , dell benefited from gains in its venture - capital investments and was happy to include those gains in its reported earnings , where they appeared as a separate line on the income statement . but this year , when those gains turned to losses , the computer maker issued pro forma numbers that excluded that $ 260 million drag . dell spokesman michael maher says the company ' s press releases and sec filings break out investment income and give gaap numbers as well as pro forma . ` ` in our view , the numbers are reported clearly , ' ' says maher . ` ` it ' s all out there for the consuming public . ' ' past puffery . many experts believe special charges are a sign that past performance was exaggerated . what should investors make of a company such as gateway inc . ? two restructuring charges in the first and third quarters , minus a small extraordinary gain , totaled $ 1 . 12 billion , or about $ 100 million more than the company made in 1998 , 1999 , and 2000 combined . which is the truer picture of its performance and potential ? the write - offs or the earnings ? write - offs for customer financing are another example . when nortel increased its reserves for credit extended to customers by $ 767 million in september , it effectively admitted it had booked sales in the past to companies that couldn ' t pay - - in effect overstating its performance in those earlier periods . in addition , nortel says booking sales and accounting for credit are unrelated issues . tech companies blame the sharp downturn in their industry for the big write - offs . and these aren ' t isolated examples . peter l . bernstein , publisher of newsletter economics & portfolio strategy , found that from 1989 to 1993 , 20 % of earnings vanished into write - offs .
big charge - offs can also distort future performance . critics contend that excess reserves are often used as a sort of ` ` cookie jar ' ' from which earnings can be taken in future quarters to meet wall street ' s expectations . or charges taken this year , for example , which is apt to be a lousy one for most companies anyway , might include costs that would otherwise have been taken in future periods . prepaying those costs gives a big boost to later earnings . rules for figuring operating earnings would help , but this is an area that will always involve a certain amount of judgment - - and therefore invite a certain amount of abuse . ` ` people are going to write off everything they can in the next two quarters because they ' re having a bad year anyway , ' ' says robert g . atkins , a mercer management consultant .
part of the lure of big special charges is that investors tend to shrug them off , believing that with the bad news out in the open , the company is poised for a brighter future . since gateway detailed its third - quarter charge of $ 571 million on oct . 18 , wall street has bid the stock up 48 % , compared with a 6 % runup for the s & p 500 .
often , though , investors should take exactly the opposite message . if , for example , part of a restructuring involves slashing employee training , information - technology spending , or research and development , the cuts could depress future performance , says baruch lev , a professor of accounting at the stern school of business at new york university . ` ` are these really one - time events ? ' ' he asks . ` ` or is this the beginning of an avalanche ? ' ' indeed , morgan stanley dean witter & co . strategist steve galbraith has found that in the year following a big charge - off to earnings companies have underperformed the stock market by 20 percentage points . ` ` la la land . ' ' investors are apt to be faced with more huge write - offs next year , even if the economy doesn ' t continue to worsen . why ? the transition to a new gaap rule that changes the way companies account for goodwill - - a balance - sheet asset that reflects the amount paid for an acquisition over the net value of the tangible assets . under the new rule , companies will have to assess their properties periodically and decrease their worth on the balance sheet if their value falls . an informal survey by financial executives international of its member controllers and financial officers found that at least a third expect to take more charges .
but figuring out the proper value of those assets is no easy task . unless there is a comparable company or factory with an established market price , valuing them involves a lot of guesswork for which there are no firm rules . ` ` what this is really coming down to is corporations and their auditors coming up with their own tests for impairment , ' ' says the stern school ' s professor paul r . brown . ` ` it ' s la la land . ' '
while the tidal wave of special charges is providing cover for earnings games , it could also be an impetus for change - - especially in the wake of the dot - com fiasco . indeed , there are some signs of a backlash . the real estate investment trust industry was a pioneer of engineered earnings , with its ` ` funds from operations , ' ' or ffo . but now some reits have begun to revert to plain old gaap earnings . hamid r . moghadam , ceo of san francisco - based amb property corp . , shifted back to gaap in 1999 . ` ` the reason i don ' t like ffo is very simple , ' ' says moghadam . ` ` one company ' s numbers look better than another one ' s even if they had identical fundamental results . ' '
there are other steps fasb could take to improve financial reporting and restore gaap ' s status . trevor s . harris , an accounting expert at morgan stanley , says it could force companies to make clear distinctions between income from operations and income from financial transactions . lehman ' s willens says companies should provide more information on cash expenses and how they bear on earnings . an easy step would be to require companies to file their press releases with the sec .
at the least , says lev , companies must clearly explain how their pro forma numbers relate to the gaap numbers . otherwise , he says , investors ` ` see numbers floating there , and where did they come from ? ' ' in today ' s environment of unregulated pro forma calculations and supersize write - offs , no question is more important to investors .
high - gloss glossary
companies are using a variety of accounting practices to put the best spin on
their results . here ' s what those terms mean :
defining earnings :
net income
the bottom line , according to generally accepted accounting principles ( gaap ) .
sometimes called ` ` reported earnings , ' ' these are the numbers the securities &
exchange commission accepts in its filings .
operating earnings
an adjustment of net income that excludes certain costs deemed to be unrelated
to the ongoing business . although it sounds deceptively like a gaap figure
called ` ` operating income ' ' ( revenue minus the costs of doing business ) , it is
not an audited figure .
core earnings
another term for operating earnings . neither core nor operating earnings are
calculated according to set rules . they can include or exclude anything the
preparer wishes .
pro forma earnings
the 1990 s term for operating earnings . popularized by dot - coms , it sometimes
excludes such basic costs as marketing and interest .
ebitda
earnings before interest , taxes , depreciation , and amortization . the
granddaddy of pro forma , it was initially highlighted by industries that
carried high debt loads , such as cable tv , but has since come to be widely
quoted .
adjusted earnings
a new term for pro forma .
defining costs :
special charges
a general term for anything a company wants to highlight as unusual and
therefore to be excluded from future earnings projections .
asset impairments
charges taken to bring something a company paid a high price for down to its
current market value . many companies are now taking these charges on internal
venture - capital funds that bought internet and other high - tech stocks at
inflated prices .
goodwill impairments
the same idea as asset impairments except they ' re used to write down the
premium a company paid over the fair market value of the net tangible assets
acquired . these charges will explode in the first quarter of 2002 because of a
change in mergers - and - acquisitions accounting that eliminates goodwill
amortization and requires holdings to be carried at no more than fair values .
restructuring reserves
an accrued expense ( not usually cash ) to cover future costs of closing down a
portion of a business , a plant , or of firings . these are projected costs and
if overstated can later become a boost to earnings as they are reversed .
write - down
lowering the value of an asset , such as a plant or stock investment . it is
often excused as a bookkeeping exercise , but there may have been a real cost
long ago that now proves ill spent , or there may have been associated cash
costs , such as investment - banking fees .
illustration : chart : the big bath chart by eric hoffmann / bw
illustration : chart : earnings chaos chart by eric hoffmann / bw
copyright ? 2000 dow jones & company , inc . all rights reserved .
editorials
end the numbers game
11 / 26 / 2001
businessweek
130
( copyright 2001 mcgraw - hill , inc . )
what did the company earn ? that ' s the most basic question an investor can ever ask . the equity culture that has generated so much growth over the years depends on a clear answer , but getting one has become impossible . enron corp . just announced that its earnings for the past three years were overstated by half a billion dollars . how did one of the biggest companies on the new york stock exchange manage to inflate its earnings by 20 % without auditors , analysts , ratings agencies , and the business press ( businessweek included ) discovering it ? in part , blame the breakdown of standardized accounting rules and the anarchy that runs rampant in the financial statements of corporate america . the u . s . needs a new set of accounting rules that gives a clear picture of financial performance . without integrity in financial reporting , the u . s . cannot hope to remain the preeminent place to invest in the global marketplace ( page 76 ) .
the dot - com bubble was the first indication that there was something seriously wrong with accounting standards . companies without much of a business model customized their quarterly statements to exclude a grab bag of expenses in order to put a positive financial spin on their operations . wall street conspired in this and encouraged big companies to join in . soon , the method of calculating earnings began to vary from company to company and even from quarter to quarter within a company . it is now chaos .
a stricter adherence to accounting rules won ' t solve the entire problem . gaap , the generally accepted accounting principles , allow all kinds of one - time expenses and noncash charges . this obscures the performance of ongoing operations . no one can fathom what are true operating earnings because there are no guidelines as to what constitutes an extraordinary expense . the result is total confusion . take earnings per share for the standard & poor ' s 500 - stock index for the second quarter . under thomson financial / first call standards , it is $ 11 . 82 . but it ' s $ 9 . 02 according to s & p and $ 4 . 83 under gaap . how can investors make intelligent decisions ?
the financial accounting standards board clearly is failing to do its job . it has promised to write a set of rules that calculates operating earnings and relates them to net earnings , but it hasn ' t delivered . the rating agency standard & poor ' s ( owned by the mcgraw - hill companies , as is businessweek ) is doing a better job . it recently drew up a definition of ` ` operating earnings ' ' that includes restructuring costs ( including severance ) , writedowns from ongoing operations , and the cost of stock options . it excludes merger and acquisition expenses , litigation settlements , impairment of goodwill , and gains or losses on asset sales . this is a beginning that fasb should build on . the accounting anarchy has to end .
copyright ? 2000 dow jones & company , inc . all rights reserved .
up front : afterlives
free and clear of enron ' s woes
edited by sheridan prasso
by stephanie anderson forest
11 / 26 / 2001
businessweek
16
( copyright 2001 mcgraw - hill , inc . )
back in enron ' s heyday , one of its rising stars was rebecca mark . nicknamed ` ` mark the shark ' ' because of her ferocious ambition , she made her name in the early ' 90 s building the energy giant ' s international operations , including the now - troubled dabhol power plant in india . once rumored to be a successor to enron ceo ken lay , she resigned from enron in august , 2000 , after two years of heading enron ' s ailing water company spin - off , azurix .
these days , as enron struggles to stay afloat , mark - jusbasche ( who hyphenated her name with that of her husband of two years ) is watching the action from the sidelines . and she ' d like to keep it that way . ` ` i ' m very surprised and saddened by [ what has happened at enron ] , and i wish them all the best , ' ' she says . beyond that , mark - jusbasche , 47 , is not much interested in talking about enron , which is being acquired by a small rival after a spectacular wall street flameout . mark left enron with millions of dollars worth of enron shares , although she says she has sold them since .
mark - jusbasche spends most of her time serving on advisory boards , both at yale and harvard business schools , as well as the school where her 16 - year - old twin sons from a previous marriage are sophomores .
in her spare time , she seeks out opportunities for investing . currently , mark - jusbasche is considering alternative - energy and water - technology companies . a farm girl from missouri , she has one investment focus that ' s especially dear to her heart : looking into expanding her cattle ranches . she now owns 15 acres in new mexico . ` ` i ' m doing things that are fun , interesting , and important to me - - family and community , ' ' she says . sure beats being anywhere near enron .
photograph : mark : now just a bystander photograph by brett coomer / ap / wide world
copyright ? 2000 dow jones & company , inc . all rights reserved .
companies & finance international - enron still optimistic of averting financial meltdown .
by andrew hill and sheila mcnulty .
11 / 26 / 2001
financial times
( c ) 2001 financial times limited . all rights reserved
enron said yesterday it was still expecting outside investors to inject $ 500 m to $ 1 bn into the group , as talks continued to avoid a financial meltdown at the energy trading group .
dynegy , whose rescue bid for its houston rival is crucial to enron ' s survival , spent last week ' s thanksgiving holiday and the weekend reviewing enron ' s operations and finances .
dynegy said it remained " optimistic for the potential of the merger to be completed , and in the time - frame we originally announced - six to nine months " .
enron ' s fate depends on a delicate , unofficial pact between its lenders , dynegy , and credit ratings agencies , which have resisted downgrading the group ' s debt while the deal is pending .
if the pact stays in place , at least $ 500 m is likely to be invested in enron by jp morgan chase and citigroup , enron ' s key lenders and advisers . a further $ 500 m is being sought from private equity firms .
but if dynegy pulls out of the deal , the cash infusion could be put in jeopardy and the ratings agencies could downgrade the debt to junk , triggering debt repayments across a network of partnerships and off - balance - sheet vehicles linked to enron .
enron confirmed yesterday that it was still seeking additional liquidity from new equity investors , but would not discuss their identities .
enron ' s crisis of confidence became more acute last week when the shares fell from $ 9 to $ 4 . 74 following a regulatory filing that revealed the extent of the group ' s debt burden .
completion of a $ 1 bn secured credit line from jpm chase and citigroup , and the postponement of a $ 690 m notes repayment due tomorrow were not sufficient to prop up the share price . the bonds also fell to levels consistent with a potential bankruptcy filing .
the slide in the share price has encouraged speculation that dynegy is preparing to renegotiate its all - stock bid , now worth $ 9 . 3 bn , compared with enron ' s market value of $ 3 . 5 bn .
but people close to enron say renegotiation of the deal would not in itself have any impact on the energy group ' s finances . latest news , www . ft . com / enron .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
schwab chief ' s main theme : diversification
by lynnette khalfani
dow jones newswires
11 / 26 / 2001
the wall street journal
( copyright ( c ) 2001 , dow jones & company , inc . )
new york - - more than two months after the sept . 11 terrorist attacks , many investors remain edgy . but the stock market , after an initial selloff , has shown remarkable resilience .
few observers expect stock - market volatility to subside soon . still , experts say that now , more than ever , is the time for skittish investors to keep their wits about them .
in a recent interview , charles r . schwab , chairman and co - chief executive of charles schwab & co . , the san francisco - based online and discount brokerage firm , gave his views on what investors should be doing - - and what mistakes they should avoid .
here are some excerpts from the interview :
in the wake of the sept . 11 attacks , how much more risk , if any , do you think is in the financial markets ? or do you think it ' s just that people ' s perceptions about risk have changed ?
i ' ve been investing since 1959 , and i have to say that , year after year , the risk hasn ' t changed . the risk is always there . there ' s risk in investing in stocks , bonds and even u . s . treasuries because of interest - rate [ fluctuations ] . there ' s risk in real estate , too .
so the question is : how do you handle it ? the best way is to diversify . over a long period of time , people who diversify their investments do pretty darned well . when they don ' t . . . sometimes it ' s fatal . if the only stock an investor owned was enron . . . or cisco at 70 , that was pretty fatal .
what do you say to people who say they ' re too scared to invest right now ? that because of the threat of terrorism , the anthrax scares , the war in afghanistan , the recession , and so forth , there ' s just too much uncertainty in the markets ?
i remember back during the cuban missile crisis , we all feared the worst . we were all building bomb shelters . it was a scary time . this terrorist thing is no different . it ' s awful - - particularly for our children . but this country is so wealthy , in terms of its resources , intellectual capital and the strength of our government .
there is no more uncertainty today than in times past . for example , we ' ve had many recessions . it ' s not fun , especially when you begin reading about all these layoffs . in fact , i think the unemployment rate [ now at 5 . 4 % ] pretty easily might get to 6 . 5 % before it gets better . and it probably won ' t get better until march or april . also , the stock market will go up , hopefully before the economy goes up .
there ' s $ 2 trillion sitting in money - market accounts . that ' s a huge resource and buying power that ' s definitely available for new investments .
what do you think is the biggest mistake investors have made over the past two or so months ?
they let their emotions take over . with the fear that people had , they didn ' t use their rational thinking . they used their emotional thinking . [ after sept . 11 ] , they sold at the low , and fear was the driver .
just a year and a half ago , the driving emotion was greed . you ' re not going to avoid this stuff . so the issue is how you manage through these cycles of fear and greed . even when i ' m fearful of something , i say to myself : " this is still the time to invest . "
my biggest worry right now is that people will give up and say , " i just don ' t want to be in the stock market at all . " and it ' s just the time that people should be hanging on and keeping a diversified portfolio .
some other mistakes : a lot of people hang on to the stock that was the poster child of the last cycle . or people say , " i ' ll get back in [ the market ] when i see the economy turn around . " well , by the time they see that , it ' s too late . they will have missed the whole ride back up .
copyright ? 2000 dow jones financial desk
enron pursuing a cash infusion energy : company is seeking as much as $ 1 billion as it tries to shore up its endangered acquisition by dynegy .
from bloomberg news
11 / 26 / 2001
los angeles times
home edition
c - 2
copyright 2001 / the times mirror company
houston - - enron corp . said talks are continuing with potential investors for an infusion of as much as $ 1 billion as the biggest energy trader tries to avoid a collapse of its planned purchase by dynegy inc .
an investment would ease concern that enron ' s weakened finances may prompt dynegy to pull out of or renegotiate the terms of the transaction , which is valued at $ 23 billion in stock and assumed debt .
enron is seeking an additional $ 500 million to $ 1 billion in cash but wouldn ' t divulge details . " we are not going to discuss the particulars of who we are talking to , " enron spokeswoman karen denne said sunday .
shares of the houston company fell by 48 % in the last three trading sessions on the new york stock exchange . at friday ' s closing price of $ 4 . 71 , the stock sells for less than half the $ 10 . 85 that dynegy is slated to pay in the acquisition . that ' s a sign investors are skeptical the transaction will go through as planned .
enron is likely to have approached kohlberg , kravis roberts & co . , blackstone group and carlyle group for a private equity investment , said industry analyst david snow of . net .
the firms have declined to comment .
in a conference call nov . 14 , enron chief financial officer jeffrey mcmahon said the company is in talks with several private investors and expects to receive $ 500 million to $ 1 billion from those sources .
on wednesday , enron got a three - week reprieve from lenders on a $ 690 - million note due this week , gaining more time to restructure its finances . dynegy chief executive chuck watson said he was " encouraged " by the commitment to extend the note payment as well as the closing of a $ 450 - million credit facility . he said dynegy remained committed to the purchase .
enron already received $ 1 . 5 billion in cash nov . 13 from chevrontexaco inc . as part of the dynegy buyout agreement . in return , dynegy received preferred stock and other rights in an enron unit that owns the northern natural gas co . pipeline . under the deal ' s terms , if dynegy and enron fail to merge , dynegy can acquire the pipeline company .
but barron ' s reported over the weekend that dynegy ' s right to the pipeline might be challenged by j . p . morgan chase & co . and salomon smith barney inc . , which accepted the asset as collateral for $ 1 billion in loans to enron .
dynegy spokesman john sousa declined to comment on enron ' s attempts to secure financing or whether more cash for enron is a condition of keeping the merger alive .
enron ' s dealings with affiliated partnerships have led to a federal investigation of the company , which restated its earnings and saw its credit ratings cut .
the company said in a securities and exchange filing a week ago that it has less than $ 2 billion in cash and credit lines left .
copyright ? 2000 dow jones & company , inc . all rights reserved .
dynegy optimistic that enron merger will succeed - ft
11 / 26 / 2001
dow jones international news
( copyright ( c ) 2001 , dow jones + 44 - ( 0 ) 20 - 7842 - 9345 ; sarah . spikes @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
dynegy purchase prompts antitrust concerns , l . a . times says
2001 - 11 - 26 07 : 36 ( new york )
washington , nov . 26 ( bloomberg ) - - california attorney
general bill lockyer is examining dynegy inc . ' s proposed
acquisition of rival energy seller enron corp . for possible
antitrust violations , the los angeles times reported .
the california independent system operator , which manages the
state ' s electric grid , has asked federal regulators to ban dynegy
and other major power sellers , including mirant , and aes corp . ' s
williams cos . , from selling electricity at market prices in the
state , the times said .
throughout the state ' s power crisis , governor gray davis and
other officials accused dynegy , enron and other power companies of
withholding electricity and manipulating the cost of wholesale
power to gouge consumers , the times said .
enron is negotiating with bankers to restructure $ 9 . 15
billion in debt .
` ` i would hope that the people who look at the antitrust
implications would consider this one carefully , ' ' california state
senator steve peace , a democrat , told the times . ` ` if anything ,
dynegy would be in an even stronger position to be able to
manipulate markets than it was before . ' '
financial post : news
enron hopes for infusion of capital : seeks us $ 500 m as talks of dynegy merger continue
andrew hill and sheila mcnulty
financial times
11 / 26 / 2001
national post
national
fp 3
( c ) national post 2001 . all rights reserved .
enron corp . said yesterday it was still expecting outside investors to inject us $ 500 - million to us $ 1 - billion into the group , as talks continued to avoid a financial meltdown at the energy trading group .
dynegy inc . , whose rescue bid for its houston - based rival is crucial to enron ' s survival , spent last week ' s u . s . thanksgiving holiday and the weekend reviewing enron ' s operations and finances .
dynegy said it remained " optimistic for the potential of the merger to be completed , and in the time - frame we originally announced - - six to nine months . "
enron ' s fate depends on a delicate , unofficial pact between its lenders , dynegy , and credit ratings agencies , which have resisted downgrading the group ' s debt while the deal is pending .
if the pact stays in place , at least us $ 500 - million is likely to be invested in enron by jp morgan chase and citigroup , enron ' s key lenders and advisers . a further us $ 500 - million is being sought from private equity firms .
but if dynegy pulls out of the deal , the cash infusion could be put in jeopardy and the ratings agencies could downgrade the debt to junk , triggering debt repayments across a network of partnerships and off - balance - sheet vehicles linked to enron .
enron confirmed yesterday it was still seeking additional liquidity from new equity investors , but would not discuss their identities .
enron ' s crisis of confidence became more acute last week when the shares fell to us $ 4 . 74 from us $ 9 after a regulator filing that revealed the extent of the group ' s debt burden .
completion of a us $ 1 - billion secured credit line from jpm chase and citigroup , and the postponement of a us $ 690 - million notes repayment due tomorrow , were not sufficient to prop up the share price . the bonds also fell to levels consistent with a potential bankruptcy filing .
the slide in the share price has encouraged speculation dynegy is preparing to renegotiate its all - stock bid , now worth us $ 9 . 3 - billion , compared with enron ' s market value of us $ 3 . 5 - billion .
but people close to enron say renegotiation of the deal would not in itself have any impact on the energy group ' s finances .
copyright ? 2000 dow jones & company , inc . all rights reserved .
india ' s aditya birla not eyeing enron ' s stake in dabhol
11 / 26 / 2001
dow jones international news
( copyright ( c ) 2001 , dow jones dow jones newswires ; 91 - 11 - 461 - 9426 ; himendra . kumar @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
the enron scandal
a v rajwade
11 / 26 / 2001
business standard
10
copyright ( c ) business standard
enron has always been recognised by other companies as best practice in risk management . it put in systems to manage risks on a real - time basis and had very strong management . " james lam , founder of erisk , a consulting firm .
as an occasional teacher and more regularly a student of the subject of management of price risks , i have been an admirer of enron ' s elaborate disclosure of its risk management practices . and yet , in a cascade of events over a period of just three weeks from mid - october , it lost two - thirds of its share value , became the subject of a us securities exchange commission ( sec ) investigation , and was taken over by a rival a third in size . ( latest reports create some doubt about whether this will go through . ) what went wrong ?
no , the events had nothing to do with dabhol . indeed , if , for us in india , enron will always be associated with the controversial power project , elsewhere it is likely become a case study for students of accounting , finance and general management . ( on second thoughts , even its indian adventures would make an excellent case study ! )
but first , a recount of what happened . after announcing on october 16 , without much explanation or transparency , that it has taken a charge of $ 1 . 2 billion against equity , enron ' s share price started tumbling . apparently , the charge was the result of some financial transactions , and the sec launched an investigation . the chief financial officer ( cfo ) , who was directly involved with the transactions , the company ' s treasurer and a couple of other senior officials were sacked .
perhaps most damagingly , enron revised its accounts from 1997 onwards , reducing profits by about $ 600 million and increasing debt by a somewhat similar amount . as a result , enron ' s credit rating was downgraded .
it seems the root problem was not in its basic business of power and gas trading , but in its investment activities controlled by the cfo . these comprised private equity , and enron ' s share in each of the investee companies was kept artificially below 50 per cent to avoid consolidation of accounts . to this end , outside investors were brought in and assured of equity in enron itself , should the value of the investee company ( ies ) fall below agreed threshold ( s ) .
all this was done to keep the losses in investments off - balance sheet , and mitigate their impact on reported profits . many other us corporations including j p morgan chase , which had large private equity investments , have suffered on this score ( see world money october 15 ) . enron wanted to avoid this and , last year , paid its since - dismissed cfo $ 30 million for his creative accounting genius .
incidentally , those enamoured of us gaap and its alleged superiority over the rest of the world should note that all these gimmicks were blessed by the company ' s auditors one of the big five firms , which was paid $ 25 million as audit fees and $ 27 million for other services by enron last year .
the restatement of the accounts from 1997 onwards became necessary as the enron management / board and the auditors were forced , on review , to admit that at least some of the transactions should have been on , rather than off , balance sheet . details of all the transactions in question are yet to come out , but what has come out is bad enough .
but this apart , a billion dollar hit for a company of the size ( $ 300 billion ) or cash flow ( $ 3 billion ) of enron is , by itself , hardly a death warrant . but it turned out to be just that for enron .
perhaps because it was too arrogant ? perhaps also because its accounts lacked transparency and their opaqueness ensured that investors ' confidence was always somewhat fragile ?
but there are two other points worth noting : the professionalism of equity analysts and whether the event restores somewhat the balance between trading and producing . as for the first , the professional analysts were surely aware of the opaqueness of the accounts , but few questioned the management aggressively on the subject . perhaps the stock was too glamorous and typified the spirit of the times trading assets was what the " masters of the universe " did , not the boring old business of producing oil or power or cars . the enron management itself was proud of the way it operated in its principal activity of trading in power and gas , with skilling , the former ceo , claming that " we are on the side of angels . we are taking on the entrenched monopolies . we are bringing the benefits of choice and free markets to the world . " ( the quotation is from an interview in businessweek , prior to skilling ' s inglorious exit from enron a couple of weeks before the bubble burst ) .
for the analysts , there was also safety in numbers . skilling claimed that " enron ' s operations are built around the integration of modern financial technologies and physical technologies " , bringing derivatives theory to trading in power and gas ! obviously , the fate of long term capital management has not led to more sober management of trading risks .
surely the role of " markets " should be to reduce the distance , and cost , between producer and consumer ? one does feel that there is something perverse in a society that values , in terms of compensation , the trader ( don ' t forget this is just a euphemism for the speculator ) over the producer whether in the bond , currency or power and gas markets . the markets and , indeed , greed obviously have a role to play , but surely the pendulum needs to swing a little bit to the left ?
copyright ? 2000 dow jones & company , inc . all rights reserved .
india ' s mehta comments on birla group offer to buy enron stake
2001 - 11 - 26 03 : 42 ( new york )
mumbai , nov . 26 ( bloomberg ) - - jaywantiben mehta , india ' s
union minister of state for power , comments on reports of aditya
birla group , which owns grasim industry ltd . , the nation ' s third -
biggest cement maker , bidding for enron ' s stake in dabhol power
co .
enron wants to sell its 65 percent stake in dabhol power ,
india ' s biggest foreign investment , at cost . the project is mired
in a tariff dispute over $ 64 million in bills that haven ' t been
paid by the maharashtra state electricity board , its only
customer , for eight months .
` ` one more bidder will increase competition , which is
welcome .
` ` any step in the national interest is good .
` ` cheap energy is always in the national interest since we
want to increase electricity generation and sell it at a
reasonable price .
` ` i can ' t comment on the time - frame of buying out the enron
stake until the legal wrangles are solved . once that ' s cleared ,
then we will try and clear the proposal quickly . ' '
- - gautam chakravorthy in the mumbai newsroom ( 91 - 22 ) 233 - 9027 | 2001-11-26T00:00:00 |
23,694 | congratulations sally ,
just wanted to say congratulations on your promotion !
kevin | 0 | ham | congratulations | sally ,
just wanted to say congratulations on your promotion !
kevin | 2001-01-16T00:00:00 |
21,753 | stock opportunities nomad international inc . ( ndin )
a multi - national internet communications company developing cost
effective telecommunications through voice over internet protocol ( voip )
technoiogies .
shares outstanding : 34 , oo 0 , oo 0
fioat : 4 , 0 oo , ooo
current price : 0 . o 9
wiil it continue higher ? watch this one friday as we know many of you
like momentum .
breaking news ! !
may 18 - - nomad international inc . ( ndin ) commented today on the recent
announcement by the canadian radio - teievision and telecommunications
commission ( crtc ) that they would reguiate voice over internet protocol
( voip ) service oniy when it is provided and used as | ocal teiephone
service .
in its decision , the crtc determined that in an effort to buiid
sustainable competition in | oca | telephone markets , the incumbent carriers
will not be permitted to price their loca | voip services beiow cost to
stifie competition .
the ruiing is a very positive one for nomad in our efforts to enter
the canadian market with our products via internet service providers ,
cabie companies and virtual operators . the ruiing permits us to enter the
market with a competitive framework , stated jan oiiver , ceo of nomad
internationa | inc .
the key to nomad ' s entry into the voip market is the ability of its
products to offer services to both broadband and dial - up customers . though
broadband is gaining more and more acceptance and utiiization
woridwide , dial - up remains the primary source of internet connectivity . in the
u . s . aione , there are over 200 , ooo , 00 o users of the internet . of the
tota | users in the u . s . , the tota | number of users of broadband is oniy
approximately 4 o , ooo , oo 0 ; ( stats by the yankee group ) dia | - up therefore
represents approximateiy 80 % of the entire internet connectivity market .
the percentage of dia | - up versus broadband users woridwide is even
higher .
nomad ' s ability to offer voip products to dia | - up customers and service
providers not only offers significant potential for market penetration ,
but also sets the company apart from its competition in the marketpiace
by offering a unique , proprietary and easiiy adaptable product .
about nomad international inc .
nomad internationa | inc . is a muiti - nationa | internet communications
company developing cost effective teiecommunications through voice over
internet protoco | ( voip ) technologies . the company ' s revoiutionary voip
product | ine called nomad systems that has dia | - up , broadband , dsl ,
cabie , sateilite and wireless capabiiities . the company pians on
targeting : 1 ) national fixed line ii iii tier carriers which are interested in
effectiveiy competing with the dominant carrier in their marketplace ,
2 ) large multinationa | corporations which need to have us or european
presence by having , ( for exampie ) , a united states number ringing in
their offices in guatemala or london - - offering business partners a more
economical way to communicate , and 3 ) immigrants in north america , a
means of significantiy | owering their communication expense with their
relatives in their country of origin .
conclusion :
the examples above show the awesome , earning potentia | of little known
companies that expiode onto investor ' s radar screens ; many of you are
already familiar with this . is ndin poised and positioned to do that for
you ? then you may fee | the time has come to act . . . and please watch
this one trade friday ! go ndin .
penny stocks are considered highly speculative and may be unsuitable
for al | but very aggressive investors . this profile is not in any way
affiiiated with the featured company . we were compensated 3 ooo doilars
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 mailings , or if you feel you have been
wrongfuily placed in our membership , piease go here or send a biank
e mail with no thanks in the subject to
noneedl 017 @ yahoo . com | 1 | spam | stock opportunities | nomad international inc . ( ndin )
a multi - national internet communications company developing cost
effective telecommunications through voice over internet protocol ( voip )
technoiogies .
shares outstanding : 34 , oo 0 , oo 0
fioat : 4 , 0 oo , ooo
current price : 0 . o 9
wiil it continue higher ? watch this one friday as we know many of you
like momentum .
breaking news ! !
may 18 - - nomad international inc . ( ndin ) commented today on the recent
announcement by the canadian radio - teievision and telecommunications
commission ( crtc ) that they would reguiate voice over internet protocol
( voip ) service oniy when it is provided and used as | ocal teiephone
service .
in its decision , the crtc determined that in an effort to buiid
sustainable competition in | oca | telephone markets , the incumbent carriers
will not be permitted to price their loca | voip services beiow cost to
stifie competition .
the ruiing is a very positive one for nomad in our efforts to enter
the canadian market with our products via internet service providers ,
cabie companies and virtual operators . the ruiing permits us to enter the
market with a competitive framework , stated jan oiiver , ceo of nomad
internationa | inc .
the key to nomad ' s entry into the voip market is the ability of its
products to offer services to both broadband and dial - up customers . though
broadband is gaining more and more acceptance and utiiization
woridwide , dial - up remains the primary source of internet connectivity . in the
u . s . aione , there are over 200 , ooo , 00 o users of the internet . of the
tota | users in the u . s . , the tota | number of users of broadband is oniy
approximately 4 o , ooo , oo 0 ; ( stats by the yankee group ) dia | - up therefore
represents approximateiy 80 % of the entire internet connectivity market .
the percentage of dia | - up versus broadband users woridwide is even
higher .
nomad ' s ability to offer voip products to dia | - up customers and service
providers not only offers significant potential for market penetration ,
but also sets the company apart from its competition in the marketpiace
by offering a unique , proprietary and easiiy adaptable product .
about nomad international inc .
nomad internationa | inc . is a muiti - nationa | internet communications
company developing cost effective teiecommunications through voice over
internet protoco | ( voip ) technologies . the company ' s revoiutionary voip
product | ine called nomad systems that has dia | - up , broadband , dsl ,
cabie , sateilite and wireless capabiiities . the company pians on
targeting : 1 ) national fixed line ii iii tier carriers which are interested in
effectiveiy competing with the dominant carrier in their marketplace ,
2 ) large multinationa | corporations which need to have us or european
presence by having , ( for exampie ) , a united states number ringing in
their offices in guatemala or london - - offering business partners a more
economical way to communicate , and 3 ) immigrants in north america , a
means of significantiy | owering their communication expense with their
relatives in their country of origin .
conclusion :
the examples above show the awesome , earning potentia | of little known
companies that expiode onto investor ' s radar screens ; many of you are
already familiar with this . is ndin poised and positioned to do that for
you ? then you may fee | the time has come to act . . . and please watch
this one trade friday ! go ndin .
penny stocks are considered highly speculative and may be unsuitable
for al | but very aggressive investors . this profile is not in any way
affiiiated with the featured company . we were compensated 3 ooo doilars
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 mailings , or if you feel you have been
wrongfuily placed in our membership , piease go here or send a biank
e mail with no thanks in the subject to
noneedl 017 @ yahoo . com
| 2005-04-20T00:00:00 |
21,521 | fw : lead i got home pretty late , but you were right , i did have the link in my email . http : / / aps 8 xunt 7 qi 7 mqxnrq . hndnwzp . biz
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j . crews
- - - - - - - - - - - original message - - - - - - - - - - -
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- - - - - - - - - - - original message - - - - - - - - - - -
from : roxanne [ tmewklhhxsv @ yahoo . gr ]
sent : mon , 14 mar 2005 00 : 19 : 17 + 0100
to : roxannecrews 58 @ yahoo . bz
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8,298 | enron alp dear alp company representatives :
thank you again for your participation in the alp company day at rice
university . we are pleased to inform you that your project proposal has been
chosen for the 2001 alp program . the following students will be working on
your project :
calabrese , luigi ? ? ? ? ? ? ? ? luigical @ rice . edu
ghose , ivy ? ? ? ? ? ? ? ? ? ? ? ? ? ? ghosei @ rice . edu
ghosh , ronnie ? ? ? ghoshr @ rice . edu
iqbal , syed ? ? ? ? ? ? ? ? ? ? ? ? ? iqbal @ rice . edu
sud , pravas ? ? ? ? ? ? ? ? ? ? ? ? ? pravas @ rice . edu
womack , charles ? cwomack @ rice . edu
the faculty liaisons for your project are :
barrett , deborah ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? barrett @ rice . edu
uecker , will ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? uecker @ rice . edu
loughridge , dennis ? ? ? ? ? ? loughrid @ rice . edu
a representative from the student team will contact you soon to set up a
meeting time . if you need to contact your team , i have included the students '
email addresses . they check their email on a regular basis , so this is a good
way to communicate with them .
please let me know if you have any questions regarding this information .
again , thank you for your interest in the jones school . best wishes for a
great project !
carrie chamberlin miller
director of mba program
rice university
6100 main street , ms 531
houston , texas 77005 - 1892
phone : ( 713 ) 348 - 5260
fax : ( 713 ) 348 - 5251
e - mail : cmiller @ rice . edu
http : / / www . ruf . rice . edu / ~ jgs /
pamela castro
mba program associate
rice university
phone : 713 - 348 - 6223
fax : 713 - 348 - 5251
e - mail : castro @ rice . edu | 0 | ham | enron alp | dear alp company representatives :
thank you again for your participation in the alp company day at rice
university . we are pleased to inform you that your project proposal has been
chosen for the 2001 alp program . the following students will be working on
your project :
calabrese , luigi ? ? ? ? ? ? ? ? luigical @ rice . edu
ghose , ivy ? ? ? ? ? ? ? ? ? ? ? ? ? ? ghosei @ rice . edu
ghosh , ronnie ? ? ? ghoshr @ rice . edu
iqbal , syed ? ? ? ? ? ? ? ? ? ? ? ? ? iqbal @ rice . edu
sud , pravas ? ? ? ? ? ? ? ? ? ? ? ? ? pravas @ rice . edu
womack , charles ? cwomack @ rice . edu
the faculty liaisons for your project are :
barrett , deborah ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? barrett @ rice . edu
uecker , will ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? uecker @ rice . edu
loughridge , dennis ? ? ? ? ? ? loughrid @ rice . edu
a representative from the student team will contact you soon to set up a
meeting time . if you need to contact your team , i have included the students '
email addresses . they check their email on a regular basis , so this is a good
way to communicate with them .
please let me know if you have any questions regarding this information .
again , thank you for your interest in the jones school . best wishes for a
great project !
carrie chamberlin miller
director of mba program
rice university
6100 main street , ms 531
houston , texas 77005 - 1892
phone : ( 713 ) 348 - 5260
fax : ( 713 ) 348 - 5251
e - mail : cmiller @ rice . edu
http : / / www . ruf . rice . edu / ~ jgs /
pamela castro
mba program associate
rice university
phone : 713 - 348 - 6223
fax : 713 - 348 - 5251
e - mail : castro @ rice . edu | 2001-01-22T00:00:00 |
747 | memo from office of the chair the mid - year performance management cycle will begin on may 15 with the
opening of the pep system ( the online " performance evaluation process "
feedback system ) . you will be receiving your password for this system in a
note to go out later from pep . in preparation for the cycle , four training
classes will be offered to all new employees and to those employees who have
not previously attended training . enrollment for these classes will be
offered through the development center " ernie " system . for employees who are
outside the houston area , please contact your hr representative for more
information .
these sessions will be held on :
wednesday , may 10 from 9 : 00 - 10 : 00 a . m . , and three sessions to be held on
thursday , may 11 from 9 : 00 - 10 : 00 a . m . ; 1 : 30 - 2 : 30 p . m . ; and 3 : 00 - 4 : 00 p . m .
all sessions will be held at the doubletree hotel .
to register , click on this link to go directly to the development center
for those of you who have attended the training before and who are familiar
with the past performance management process , there have been some
modifications :
1 . the performance management process is now enron wide . all enron feedback
forms have been reduced to three ( vice president ( vp ) / managing director
( md ) ; management / professional ; and administration / support ) , which all use
the following criteria :
? innovation / entrepreneurship
? communication / setting direction
? teamwork / interpersonal
? leadership / vision / values
? business instinct
? analytical / technical
2 . the following six performance ratings will be used consistently on the
final feedback forms across enron :
superior
excellent
strong
satisfactory
needs improvement
issues
3 . there will be four recognized peer groups across the company for purposes
of the prc ( formerly the business review meetings ) meeting .
? commercial
? commercial support
? technical
? specialized technical
4 . the performance review process will continue to be used to facilitate :
? promotions - up to director level only . there will be no officer promotions
to vp / md at mid - year
? feedback to employee
? compensation decisions
? sharing of performance rating at manager , s discretion
5 . prc meetings will be reviewed by both functional area & business units
both functional areas and business units will participate in the rating of
employees to cover both solid and dotted line reporting relationships .
functional prc meetings will take place first , followed by the final business
unit meetings . difference in views on an individual employee , s rating should
be discussed and consensus should be reached . the functional area meetings
are :
- accounting
- human resources
- government affairs
- rac
- global finance
6 . the pep system is now available via the intranet to allow greater access
from global locations and remotely . the functionality is essentially the
same . if you would like further information on how to use this system you may
gain access to the quick reference guide by clicking on the attached
weblinkhttp : / / home . enron . com / announce / . pdf . if the
quick reference does not display correctly on your pc , call your help desk
for assistance , or irma alvarez at 713 - 853 - 1543 to get a hard copy .
7 . the general responsibilities remain the same regarding the overall
process :
employee / reviewer responsibilities :
select 5 - 7 reviewers
complete self - assessment
complete requested feedback forms
reviewers who cannot provide feedback use the decline request feature
supervisor responsibilities :
approve reviewers ( at least 3 of the employee ' s choices )
communicate modifications to employee
participate in prc meetings as required
summarize feedback and complete appropriate feedback form
communicate feedback to the employee
schedule for mid - year performance review
may 15 pep system opens for feedback
june 9 pep system closes for feedback
june 12 functional / business unit prc meetings begin
july 20 prc meetings should finish
july 31 / august 1 vp & md prc meeting
as always , if you have further questions on the performance management
process , you may contact your hr representative . | 0 | ham | memo from office of the chair | the mid - year performance management cycle will begin on may 15 with the
opening of the pep system ( the online " performance evaluation process "
feedback system ) . you will be receiving your password for this system in a
note to go out later from pep . in preparation for the cycle , four training
classes will be offered to all new employees and to those employees who have
not previously attended training . enrollment for these classes will be
offered through the development center " ernie " system . for employees who are
outside the houston area , please contact your hr representative for more
information .
these sessions will be held on :
wednesday , may 10 from 9 : 00 - 10 : 00 a . m . , and three sessions to be held on
thursday , may 11 from 9 : 00 - 10 : 00 a . m . ; 1 : 30 - 2 : 30 p . m . ; and 3 : 00 - 4 : 00 p . m .
all sessions will be held at the doubletree hotel .
to register , click on this link to go directly to the development center
for those of you who have attended the training before and who are familiar
with the past performance management process , there have been some
modifications :
1 . the performance management process is now enron wide . all enron feedback
forms have been reduced to three ( vice president ( vp ) / managing director
( md ) ; management / professional ; and administration / support ) , which all use
the following criteria :
? innovation / entrepreneurship
? communication / setting direction
? teamwork / interpersonal
? leadership / vision / values
? business instinct
? analytical / technical
2 . the following six performance ratings will be used consistently on the
final feedback forms across enron :
superior
excellent
strong
satisfactory
needs improvement
issues
3 . there will be four recognized peer groups across the company for purposes
of the prc ( formerly the business review meetings ) meeting .
? commercial
? commercial support
? technical
? specialized technical
4 . the performance review process will continue to be used to facilitate :
? promotions - up to director level only . there will be no officer promotions
to vp / md at mid - year
? feedback to employee
? compensation decisions
? sharing of performance rating at manager , s discretion
5 . prc meetings will be reviewed by both functional area & business units
both functional areas and business units will participate in the rating of
employees to cover both solid and dotted line reporting relationships .
functional prc meetings will take place first , followed by the final business
unit meetings . difference in views on an individual employee , s rating should
be discussed and consensus should be reached . the functional area meetings
are :
- accounting
- human resources
- government affairs
- rac
- global finance
6 . the pep system is now available via the intranet to allow greater access
from global locations and remotely . the functionality is essentially the
same . if you would like further information on how to use this system you may
gain access to the quick reference guide by clicking on the attached
weblinkhttp : / / home . enron . com / announce / . pdf . if the
quick reference does not display correctly on your pc , call your help desk
for assistance , or irma alvarez at 713 - 853 - 1543 to get a hard copy .
7 . the general responsibilities remain the same regarding the overall
process :
employee / reviewer responsibilities :
select 5 - 7 reviewers
complete self - assessment
complete requested feedback forms
reviewers who cannot provide feedback use the decline request feature
supervisor responsibilities :
approve reviewers ( at least 3 of the employee ' s choices )
communicate modifications to employee
participate in prc meetings as required
summarize feedback and complete appropriate feedback form
communicate feedback to the employee
schedule for mid - year performance review
may 15 pep system opens for feedback
june 9 pep system closes for feedback
june 12 functional / business unit prc meetings begin
july 20 prc meetings should finish
july 31 / august 1 vp & md prc meeting
as always , if you have further questions on the performance management
process , you may contact your hr representative . | 2000-05-08T00:00:00 |
7,019 | re : rabi de anything we can do ?
- - - - - - - - - - - - - - - - - - - - - - forwarded by grant masson / hou / ect on 09 / 15 / 2000 08 : 34
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
enron north america corp .
from : toni graham @ enron 09 / 14 / 2000 07 : 36 pm
to : grant masson / hou / ect @ ect
cc : norma villarreal / hou / ect @ ect
subject : re : rabi de
grant , i did talk with tanya this evening however since i ' m on vacation
friday i wanted to outline here what rabi has discussed with me .
1 ) title . . . . . he is currently at a vp level and we are offering him manager
2 ) sign on bonus . . . . . . . . . . . the 15 k is not coving the lost bonus he will
receive at he current co ( $ 25 k )
3 ) salary . . . . . . . . . . . he will receive a " risk premium " of approx 10 % befor
tax . he is not able to quantify this for us and i was not able to get a
number out of him as to what he is looking for .
he is very enthusiastic and wants to work for enron but wanted to see if we
could do anything to enhance our offer in these areas .
toni
from : grant masson @ ect 09 / 14 / 2000 08 : 58 am
to : toni graham / corp / enron @ enron
cc :
subject : re : rabi de
toni :
i am talking to vince today . please call me if there are any further
developments i should know about .
regards ,
grant . | 0 | ham | re : rabi de | anything we can do ?
- - - - - - - - - - - - - - - - - - - - - - forwarded by grant masson / hou / ect on 09 / 15 / 2000 08 : 34
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
enron north america corp .
from : toni graham @ enron 09 / 14 / 2000 07 : 36 pm
to : grant masson / hou / ect @ ect
cc : norma villarreal / hou / ect @ ect
subject : re : rabi de
grant , i did talk with tanya this evening however since i ' m on vacation
friday i wanted to outline here what rabi has discussed with me .
1 ) title . . . . . he is currently at a vp level and we are offering him manager
2 ) sign on bonus . . . . . . . . . . . the 15 k is not coving the lost bonus he will
receive at he current co ( $ 25 k )
3 ) salary . . . . . . . . . . . he will receive a " risk premium " of approx 10 % befor
tax . he is not able to quantify this for us and i was not able to get a
number out of him as to what he is looking for .
he is very enthusiastic and wants to work for enron but wanted to see if we
could do anything to enhance our offer in these areas .
toni
from : grant masson @ ect 09 / 14 / 2000 08 : 58 am
to : toni graham / corp / enron @ enron
cc :
subject : re : rabi de
toni :
i am talking to vince today . please call me if there are any further
developments i should know about .
regards ,
grant . | 2000-09-15T00:00:00 |
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13,270 | allocations schedule louise ,
attached is the schedule as requested . please refer to the comments i ' ve listed . i ' d like to revisit this schedule with you when you get a chance .
i ' m still working with it to resolve the allocation issues . i ' ve listed the numbers that i think are appropriate for the 2001 forecast .
additionally i ' m attaching the allocation from global finance . i ' ll schedule a meeting with them to review this allocation if you ' d like .
. | 0 | ham | allocations schedule | louise ,
attached is the schedule as requested . please refer to the comments i ' ve listed . i ' d like to revisit this schedule with you when you get a chance .
i ' m still working with it to resolve the allocation issues . i ' ve listed the numbers that i think are appropriate for the 2001 forecast .
additionally i ' m attaching the allocation from global finance . i ' ll schedule a meeting with them to review this allocation if you ' d like .
. | 2001-10-14T00:00:00 |
2,065 | enron / hpl actuals for november 16 , 2000 teco tap 40 . 000 / enron ; 30 . 833 / hpl gas daily | 0 | ham | enron / hpl actuals for november 16 , 2000 | teco tap 40 . 000 / enron ; 30 . 833 / hpl gas daily | 2000-11-17T00:00:00 |
10,721 | software for system builders , resellers , and hardware purchasers only . get latest softwares , 99 % savings .
the two most abundant things in the universe are hydrogen and stupidity .
i know nothing except the fact of my ignorance . | 1 | spam | software for system builders , resellers , and hardware purchasers only . | get latest softwares , 99 % savings .
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28,549 | pigging fyi !
tw operations have been running pigs from station 9 to pl and from pl to p 2 . 176 barrels of water have been received at p 2 . large amounts of water are beginning to show at p 3 . the field has planned to run pigs from p 2 to p 3 today or tomorrow . owens corning is on this leg between p 2 and p 3 and because of the large amounts of water they may be shut in for one day . this poi pulls 3 , 200 mmbtu / day and tw is working with owens . entergas may serve them for one day . | 0 | ham | pigging | fyi !
tw operations have been running pigs from station 9 to pl and from pl to p 2 . 176 barrels of water have been received at p 2 . large amounts of water are beginning to show at p 3 . the field has planned to run pigs from p 2 to p 3 today or tomorrow . owens corning is on this leg between p 2 and p 3 and because of the large amounts of water they may be shut in for one day . this poi pulls 3 , 200 mmbtu / day and tw is working with owens . entergas may serve them for one day . | 2001-03-29T00:00:00 |
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3,330 | project " miracle " as you may know , the generation investments group is in discussions with el paso on the sale of upstream equity interests in the cleburne , tx generating facility . as part of el paso ' s diligence , they ' ve asked to meet with our experts in tax , insurance and gas management matters pertaining to the facility on thursday , june 21 or friday , june 22 . we intend to schedule three separate meetings in either the enron building or 3 ac . please let me know what your availability is for a meeting on your area of expertise on either of those two days .
thanks .
rick hill
generation investments group | 0 | ham | project " miracle " | as you may know , the generation investments group is in discussions with el paso on the sale of upstream equity interests in the cleburne , tx generating facility . as part of el paso ' s diligence , they ' ve asked to meet with our experts in tax , insurance and gas management matters pertaining to the facility on thursday , june 21 or friday , june 22 . we intend to schedule three separate meetings in either the enron building or 3 ac . please let me know what your availability is for a meeting on your area of expertise on either of those two days .
thanks .
rick hill
generation investments group | 2001-06-15T00:00:00 |
29,001 | attention : changes in remote access please be aware that remote connectivity into the enron network has changed , ipass is no longer available . remote connectivity into enron may be obtained by using the econnect solution . authorization to use econnect may be requested via the erequest system ( you will find a link to erequest on http : / / itcentral . enron . com ) .
email is accessible from any computer with internet connectivity by logging into outlook web access http : \ \ mail . enron . com with your nt login id and password . accessing owa does not require an econnect connection .
please direct all questions or concerns to the resolution center at 713 - 853 - 1411
ets customers should direct inquiries to the ets solution center at 713 - 345 - 4745
we appreciate your cooperation in advance | 0 | ham | attention : changes in remote access | please be aware that remote connectivity into the enron network has changed , ipass is no longer available . remote connectivity into enron may be obtained by using the econnect solution . authorization to use econnect may be requested via the erequest system ( you will find a link to erequest on http : / / itcentral . enron . com ) .
email is accessible from any computer with internet connectivity by logging into outlook web access http : \ \ mail . enron . com with your nt login id and password . accessing owa does not require an econnect connection .
please direct all questions or concerns to the resolution center at 713 - 853 - 1411
ets customers should direct inquiries to the ets solution center at 713 - 345 - 4745
we appreciate your cooperation in advance | 2001-12-17T00:00:00 |
4,981 | backgammon tournament the senate foreign relations committee approved rice ' s nomination 16 - 2 wednesday , despite reservations of some democrats who nonetheless voted for her . while acknowledging that rice will be confirmed eventually , some democrats want to show they are ready to fight the president in his second term - - amid grumbling that party leaders did not stand up to bush in his first term
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glasgow cartilage evergreen eben knudsen ajar fasciculate runaway acm devolution greta commute systemization the medic catharsis mars alligator anion
fog diploidy surreptitious din topography gal electrode kuwait quark bellyfull agricultural strict embody grandiose cowpox billow molybdenum dementia czarina conservation algiers thither yeager amherst cue predictor jacket bonze shag shish breadroot fern freshen
expenditure along give michele article sturbridge goodyear census tridiagonal attention sob achromatic amort easy axes advance trickster compensate mecca anne collateral downspout infinity abominate legendre coerce amoco kind sad clay ancestral mazurka sprinkle celebrate peal caramel allocable cornflower
emerge accurate bantam caviar landfill adenine callahan acquit eccles cyrillic breed diabase mutt shotgun don rumple altitude allah die zesty barnabas foliage buttercup grand sharp siliceous cognition inactive edifice kindle alliterate coequal pencil injunct brighton agate delusion abuse dicotyledon hardtop
oxide promethium throw longish schizophrenic fitch chaise biharmonic postprocess lanthanide mr blot concurred aborigine isocline extemporaneous wayward genuine aver roomy herald cautious cornucopia adhere fingertip cringe aristotelian scrutable simplify testimony tonsil puffery ago bay acyclic waffle haste sicilian achromatic moluccas occipital heady lowry pfennig
smithsonian waive glidden naughty toward simulate kirchoff apposite trudy acclamation ingratitude yeager superannuate bali illustrious adjutant storeroom abate chimney rachmaninoff dietz juncture covet lopez playful shrink del ellipsis administratrix dine azimuthal bedspread restive deportee bordello earl kafkaesque alizarin nazism jackass desolater balkan collegiate thicken draftee breach pyre beauty xylene crude carbide grata ream than cameraman aim
| 2005-05-21T00:00:00 |
28,264 | cera insight : the gales of november recap and december forecast - - - - - - - - - - - - - - - - - - - - - - forwarded by lorna brennan / et & s / enron on 12 / 05 / 2000
11 : 09 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
webmaster @ cera . com on 11 / 30 / 2000 09 : 05 : 23 pm
to : lorna . brennan @ enron . com
cc :
subject : cera insight : the gales of november - cera alert
cera alert : sent thu , november 30 , 2000
title : cera insight : the gales of november
author : n . american gas team
e - mail category : alert
product line : north american gas ,
url : http : / / www . cera . com / cfm / track / eprofile . cfm ? u = 5526 & m = 1432 ,
alternative url :
cold november weather , with heating degree - days 22 percent above normal
through
the twenty - fifth , fueled withdrawals from storage that cera estimates will
average
approximately 8 . 5 billion cubic feet ( bcf ) per day for the month , near the
all - time
record for november set in 1995 . this is approximately 5 . 0 bcf per day higher
than
the previously expected withdrawal rate under normal weather conditions . the
result
is that storage inventories as of the end of the month are about 500 bcf
below the
year - earlier level and are on track to dip well into record low territory by
the end of
the winter ( see table 1 ) .
for december , normal weather would result in storage withdrawals of 17 . 0 bcf
per
day on average for the month . at that rate , storage inventories would fall
below 2 . 0
trillion cubic feet ( tcf ) by the end of the year , the first time that has
ever occurred .
by the end of march cera expects working inventories to be reduced to 606 bcf
in
the united states , compared with the previous record low of 758 bcf .
this weather and high withdrawal rates have moved prices higher within the
wide
and volatile range between residual fuel oil and distillate , with gas prices
moving
farther above those of resid ( $ 4 . 75 to $ 5 . 00 ) and closer to the price of
distillate fuel
oil ( approximately $ 7 . 00 ) . strength in the oil market has kept the
resid - distillate
range high , but should gas test either boundary of this range , the price of
either
distillate or resid would move as well . under normal weather cera now expects
december prices to average $ 6 . 25 at the henry hub , a higher level within this
range
reflective of reduced storage inventories .
although prices have abated somewhat in recent days and will continue to rise
and
fall with weather and weather forecasts , fundamentals now are so tight that a
return
to cold weather would quickly drive prices back above $ 6 . 50 and potentially
above
$ 7 . 00 at the henry hub . it is only at that level or above that any significant
additional demand response is likely , and even then such a response would
require
time . the possibility of curtailments of interruptible loads late this winter
has grown ,
while the possibility of significant price relief appears increasingly remote .
* * end * *
follow url for html version of this message with associated table .
come shoot the rapids with us at ceraweek 2001 , " shooting the rapids :
strategies and risks for the energy future " in houston , february 12 - 16 ,
2001 ! for more information and to register , please visit
http : / / www . cera . com / ceraweek /
account changes
to edit your personal account information , including your e - mail
address , etc . go to : http : / / eprofile . cera . com / cfm / edit / account . cfm
this electronic message and attachments , if any , contain information
from cambridge energy research associates , inc . ( cera ) which is
confidential and may be privileged . unauthorized disclosure , copying ,
distribution or use of the contents of this message or any attachments ,
in whole or in part , is strictly prohibited .
terms of use : http : / / www . cera . com / tos . html
questions / comments : webmaster @ cera . com
copyright 2000 . cambridge energy research associates | 0 | ham | cera insight : the gales of november recap and december forecast | - - - - - - - - - - - - - - - - - - - - - - forwarded by lorna brennan / et & s / enron on 12 / 05 / 2000
11 : 09 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
webmaster @ cera . com on 11 / 30 / 2000 09 : 05 : 23 pm
to : lorna . brennan @ enron . com
cc :
subject : cera insight : the gales of november - cera alert
cera alert : sent thu , november 30 , 2000
title : cera insight : the gales of november
author : n . american gas team
e - mail category : alert
product line : north american gas ,
url : http : / / www . cera . com / cfm / track / eprofile . cfm ? u = 5526 & m = 1432 ,
alternative url :
cold november weather , with heating degree - days 22 percent above normal
through
the twenty - fifth , fueled withdrawals from storage that cera estimates will
average
approximately 8 . 5 billion cubic feet ( bcf ) per day for the month , near the
all - time
record for november set in 1995 . this is approximately 5 . 0 bcf per day higher
than
the previously expected withdrawal rate under normal weather conditions . the
result
is that storage inventories as of the end of the month are about 500 bcf
below the
year - earlier level and are on track to dip well into record low territory by
the end of
the winter ( see table 1 ) .
for december , normal weather would result in storage withdrawals of 17 . 0 bcf
per
day on average for the month . at that rate , storage inventories would fall
below 2 . 0
trillion cubic feet ( tcf ) by the end of the year , the first time that has
ever occurred .
by the end of march cera expects working inventories to be reduced to 606 bcf
in
the united states , compared with the previous record low of 758 bcf .
this weather and high withdrawal rates have moved prices higher within the
wide
and volatile range between residual fuel oil and distillate , with gas prices
moving
farther above those of resid ( $ 4 . 75 to $ 5 . 00 ) and closer to the price of
distillate fuel
oil ( approximately $ 7 . 00 ) . strength in the oil market has kept the
resid - distillate
range high , but should gas test either boundary of this range , the price of
either
distillate or resid would move as well . under normal weather cera now expects
december prices to average $ 6 . 25 at the henry hub , a higher level within this
range
reflective of reduced storage inventories .
although prices have abated somewhat in recent days and will continue to rise
and
fall with weather and weather forecasts , fundamentals now are so tight that a
return
to cold weather would quickly drive prices back above $ 6 . 50 and potentially
above
$ 7 . 00 at the henry hub . it is only at that level or above that any significant
additional demand response is likely , and even then such a response would
require
time . the possibility of curtailments of interruptible loads late this winter
has grown ,
while the possibility of significant price relief appears increasingly remote .
* * end * *
follow url for html version of this message with associated table .
come shoot the rapids with us at ceraweek 2001 , " shooting the rapids :
strategies and risks for the energy future " in houston , february 12 - 16 ,
2001 ! for more information and to register , please visit
http : / / www . cera . com / ceraweek /
account changes
to edit your personal account information , including your e - mail
address , etc . go to : http : / / eprofile . cera . com / cfm / edit / account . cfm
this electronic message and attachments , if any , contain information
from cambridge energy research associates , inc . ( cera ) which is
confidential and may be privileged . unauthorized disclosure , copying ,
distribution or use of the contents of this message or any attachments ,
in whole or in part , is strictly prohibited .
terms of use : http : / / www . cera . com / tos . html
questions / comments : webmaster @ cera . com
copyright 2000 . cambridge energy research associates | 2000-12-05T00:00:00 |
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| 2005-02-04T00:00:00 |
6,433 | corp and muni bonds here ' s what i found . pls let me know if i can help you with anything . i
checked on the bonds that we spoke with you about earlier . the call date was
in august so i just passed on it . these look pretty good .
thanks , julie
- kaminsky 2 . doc | 0 | ham | corp and muni bonds | here ' s what i found . pls let me know if i can help you with anything . i
checked on the bonds that we spoke with you about earlier . the call date was
in august so i just passed on it . these look pretty good .
thanks , julie
- kaminsky 2 . doc | 2000-07-05T00:00:00 |
9,254 | short term private firm model : static historical snapshot + performance data for model development
mike , scott , eric ,
after brainstorming and discussing further on data here , we think that our
final specifications for modelling data requirement need to be as follows :
we need bankrupt , default and nondefault ( which covers nonbankrupt ) accounts
with 4 quarterly observation snapshots and 12 months performance following
the latest snapshot . monthly performance indicator need to be available for
the entire 12 months performance period . we will need all the bankrupt and
default accounts and comparable sample of good accounts with weights .
for the purpose of model validation , we will need data with above specs
covering 16 months of performance . this means that we will need rolling ( 4
quarterly snapshots + 12 months performance ) data for 4 monthly shifts :
input snapshots performance
1999 march end , 1999 june end , 1999 september end , 1999 december end 12
month end performance for jan 2000 through dec 2000
1999 feb end , 1999 may end , 1999 august end , 1999 november end 12 month
end performance for dec 1999 through nov 2000
1999 jan end , 1999 apr end , 1999 july end , 1999 october end 12 month end
performance for nov 1999 through oct 2000
1998 december end , 1999 mar end , 1999 june end , 1999 september end 12
month end performance for oct 1999 through sep 2000
we will need bankruptcy chapterwise indicator , if available during the
performance period . our definition of default is either bankruptcy or 90 +
days delinquency on any trade credit .
we have also discussed the cost aspect and we think considering the big
picture , it makes sense to spend the extra amount to get the right data for
analysis .
please let me know your thoughts . this will require d & b to give us a
modified quote and we could possibly move forward quickly .
regards ,
amitava | 0 | ham | short term private firm model : static historical | snapshot + performance data for model development
mike , scott , eric ,
after brainstorming and discussing further on data here , we think that our
final specifications for modelling data requirement need to be as follows :
we need bankrupt , default and nondefault ( which covers nonbankrupt ) accounts
with 4 quarterly observation snapshots and 12 months performance following
the latest snapshot . monthly performance indicator need to be available for
the entire 12 months performance period . we will need all the bankrupt and
default accounts and comparable sample of good accounts with weights .
for the purpose of model validation , we will need data with above specs
covering 16 months of performance . this means that we will need rolling ( 4
quarterly snapshots + 12 months performance ) data for 4 monthly shifts :
input snapshots performance
1999 march end , 1999 june end , 1999 september end , 1999 december end 12
month end performance for jan 2000 through dec 2000
1999 feb end , 1999 may end , 1999 august end , 1999 november end 12 month
end performance for dec 1999 through nov 2000
1999 jan end , 1999 apr end , 1999 july end , 1999 october end 12 month end
performance for nov 1999 through oct 2000
1998 december end , 1999 mar end , 1999 june end , 1999 september end 12
month end performance for oct 1999 through sep 2000
we will need bankruptcy chapterwise indicator , if available during the
performance period . our definition of default is either bankruptcy or 90 +
days delinquency on any trade credit .
we have also discussed the cost aspect and we think considering the big
picture , it makes sense to spend the extra amount to get the right data for
analysis .
please let me know your thoughts . this will require d & b to give us a
modified quote and we could possibly move forward quickly .
regards ,
amitava | 2001-04-26T00:00:00 |
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| 2005-08-18T00:00:00 |
10,989 | heatt kills hello , cbs / a mythicize p news
a r overman ecord heat wave has led to the deaths of 180 peopl fortuneless e in phoenix ,
most of them homeless , l nonsensical eaving officials scrambling to provide water and shelter to the city ' s transient population .
read more . . . | 1 | spam | heatt kills | hello , cbs / a mythicize p news
a r overman ecord heat wave has led to the deaths of 180 peopl fortuneless e in phoenix ,
most of them homeless , l nonsensical eaving officials scrambling to provide water and shelter to the city ' s transient population .
read more . . . | 2005-07-21T00:00:00 |
17,788 | schedule crawler : hourahead failure start date : 1 / 20 / 02 ; hourahead hour : 21 ; hourahead schedule download failed . manual intervention required .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012021 . txt
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
error : dbcaps 97 data : cannot perform this operation on a closed database
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database | 0 | ham | schedule crawler : hourahead failure | start date : 1 / 20 / 02 ; hourahead hour : 21 ; hourahead schedule download failed . manual intervention required .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012021 . txt
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
error : dbcaps 97 data : cannot perform this operation on a closed database
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database | 2002-01-20T00:00:00 |
459 | re : hplr liquids / humble gas pipeline just wanted to keep everyone on point in terms of the importance and
expectations of getting this king ranch issue cleaned up for the prior months
and correct on a go forward basis . i spoke with brenda on friday to give her
an update of our progress and one of the things that she stressed and wanted
passed on to the team was the expectations that king ranch would be clean
( scheduled and allocated correctly ) for march and foward . as of thursday
night ' s p & l calc . , unaccounted for march 2000 on texas was a little over
400 , 000 mmbtus . as you all know , that number is way too high and should be a
lot lower ( on a bad month , no more than 100 , 000 mmbuts ) . hopefully , if king
ranch is the part of the problem for march and we get these issues resolved ,
march will not be an issue . i appreciate everyone ' s committment so far and
hopefully we can apply this team concept in the future to prevent crisis
modes like this from here on out . if anyone has questions or concerns ,
please do not hesitate to let me know . thanks !
howard b camp
03 / 20 / 2000 08 : 46 am
to : karry kendall / hou / ect @ ect , daren j farmer / hou / ect @ ect , clem
cernosek / hou / ect @ ect
cc : stella l morris / hou / ect @ ect , howard b camp / hou / ect @ ect , rita
wynne / hou / ect @ ect , fred boas / hou / ect @ ect , robert e lloyd / hou / ect @ ect
subject : hplr liquids / humble gas pipeline
we need to get together this afternoon at 2 : 00 pm in room 3745 to discuss how
we will schedule and allocate the hplr liquids coming into humble gas
pipeline at meter 8793 . karry , it is my understanding that you do not want
an intercompany sale from hplr liquids to hplc at this point . how do you
plan to get this gas to king ranch since hplr liquids does not have a
transport on humble ?
daren , the intercompany hplc purchase is how it is set up currently in mops .
robert , since stella is out , we will need someone to represent logistics .
hc | 0 | ham | re : hplr liquids / humble gas pipeline | just wanted to keep everyone on point in terms of the importance and
expectations of getting this king ranch issue cleaned up for the prior months
and correct on a go forward basis . i spoke with brenda on friday to give her
an update of our progress and one of the things that she stressed and wanted
passed on to the team was the expectations that king ranch would be clean
( scheduled and allocated correctly ) for march and foward . as of thursday
night ' s p & l calc . , unaccounted for march 2000 on texas was a little over
400 , 000 mmbtus . as you all know , that number is way too high and should be a
lot lower ( on a bad month , no more than 100 , 000 mmbuts ) . hopefully , if king
ranch is the part of the problem for march and we get these issues resolved ,
march will not be an issue . i appreciate everyone ' s committment so far and
hopefully we can apply this team concept in the future to prevent crisis
modes like this from here on out . if anyone has questions or concerns ,
please do not hesitate to let me know . thanks !
howard b camp
03 / 20 / 2000 08 : 46 am
to : karry kendall / hou / ect @ ect , daren j farmer / hou / ect @ ect , clem
cernosek / hou / ect @ ect
cc : stella l morris / hou / ect @ ect , howard b camp / hou / ect @ ect , rita
wynne / hou / ect @ ect , fred boas / hou / ect @ ect , robert e lloyd / hou / ect @ ect
subject : hplr liquids / humble gas pipeline
we need to get together this afternoon at 2 : 00 pm in room 3745 to discuss how
we will schedule and allocate the hplr liquids coming into humble gas
pipeline at meter 8793 . karry , it is my understanding that you do not want
an intercompany sale from hplr liquids to hplc at this point . how do you
plan to get this gas to king ranch since hplr liquids does not have a
transport on humble ?
daren , the intercompany hplc purchase is how it is set up currently in mops .
robert , since stella is out , we will need someone to represent logistics .
hc | 2000-03-20T00:00:00 |
11,762 | gtv weekly status update below please find the gtv project status update for this week . project timeline update is also included in the attached file .
gtv status meeting attendees : zhiyong wei , dave nommensen , russ severson , francis lim , jeremy wong , bill fortney , chuck ames , geoff storey , karima husain , jay krish .
accomplishments :
? incorporating physical deal positions in tds :
o changes for the view aggregation have been completed ( please see the attached project timeline ) .
o provided group of groups and filters for cash position tab .
? single point of deal entry for term deals :
o single point of deal entry for term deals is in user test .
? gas daily deals :
o changes to portcalc application to create gdi calc in erms have been in user testing and some further revisions are requested .
? live feeds for gas daily / intra - month curves :
o released to production .
? option grid ( phase 2 ) :
o released to production .
? gas daily options ( phase 2 ) :
o changes to portcalc application have been completed and in user test .
o the option delta change forward month report has been completed and in user test .
plans for the week ending 5 / 18 / 01 :
? continue it development of phase i items .
o changes to introduce expandable total in cash position tab .
o changes to portcalc for valuing physical future month positions .
o some modification to gdi calc .
? continue it development of phase ii issues .
issues / open items :
none
thanks
zhiyong | 0 | ham | gtv weekly status update | below please find the gtv project status update for this week . project timeline update is also included in the attached file .
gtv status meeting attendees : zhiyong wei , dave nommensen , russ severson , francis lim , jeremy wong , bill fortney , chuck ames , geoff storey , karima husain , jay krish .
accomplishments :
? incorporating physical deal positions in tds :
o changes for the view aggregation have been completed ( please see the attached project timeline ) .
o provided group of groups and filters for cash position tab .
? single point of deal entry for term deals :
o single point of deal entry for term deals is in user test .
? gas daily deals :
o changes to portcalc application to create gdi calc in erms have been in user testing and some further revisions are requested .
? live feeds for gas daily / intra - month curves :
o released to production .
? option grid ( phase 2 ) :
o released to production .
? gas daily options ( phase 2 ) :
o changes to portcalc application have been completed and in user test .
o the option delta change forward month report has been completed and in user test .
plans for the week ending 5 / 18 / 01 :
? continue it development of phase i items .
o changes to introduce expandable total in cash position tab .
o changes to portcalc for valuing physical future month positions .
o some modification to gdi calc .
? continue it development of phase ii issues .
issues / open items :
none
thanks
zhiyong | 2001-05-15T00:00:00 |
11,086 | court weighs u . s . power over utilities the us supreme court has decided to hear arguments over the native load exception - one of our key policy questions . while the answer is still many months away , this is a critical decision for enron .
we will keep everyone apprised of developments .
jim
- - - - - forwarded by james d steffes / na / enron on 02 / 26 / 2001 12 : 26 pm - - - - -
" ronald carroll " 02 / 26 / 2001 12 : 02 pm to : , , , , , , , , , , , , , , , , , , , , , , cc : subject : fwd : court weighs u . s . power over utilities
- - - - - message from " tracey bradley " on mon , 26 feb 2001 13 : 37 : 22 - 0600 - - - - -
to : , , " deanna king " , , , , " justin long " , , " minh - tu nguyen " , " nancy pickover " , , , , , ,
subject : court weighs u . s . power over utilities
court weighs u . s . power over utilities
( february 26 , 2001 )
washington , feb 26 , 2001 ( united press international via comtex ) - - in a case that could prove pivotal for energy competition , the supreme court said monday it would hear argument next term on whether the federal energy regulatory commission can regulate the transmission of electricity within a state .
at issue is whether ferc regulations can foster competition in the local electricity marketplace . but the case also tests whether the supreme court will continue enhancing state power at the expense of the federal government , as it has in a number of decisions in recent years .
and far from being a dusty exercise in legal maneuvering , the case is also just one more example of how the actions of the supreme court can affect the average american .
the financial stakes are huge for the suppliers and distributors of electricity , but the dispute also could have a direct influence on how much consumers pay for electricity . though california is not a party in the case , the energy crisis in that state and its ramifications in neighboring states have brought concern over electric utilities to the forefront .
the federal power act of 1935 gave the federal government the authority to regulate interstate transmission of energy , but largely left an individual state in charge when it came to the energy transmission within that state ' s borders . in 1935 , " most electric facilities were intrastate facilities " operating within a particular state ' s borders , new york told the supreme court in a petition .
in 1998 , however , " ferc pre - empted state regulation of both the delivery of electricity from a generator to a retail consumer in the same state and the use of local distribution facilities to deliver electricity that is resold , " new york representatives said . " ferc envisioned the introduction of competition , not only in its jurisdictional ( wholesale ) market . . . but also in the state jurisdictional retail market , and concluded that competition allowed it to expand its jurisdiction in three areas . "
first , ferc asserted its jurisdiction over retail transactions when states " unbundled , " or separated , retail rates into charges for delivery and electricity . second , " ferc decided that if a seller of unbundled wholesale energy made use of a local distribution system , ferc - - not the states - - would set the rates that the seller would pay for the use of those . . . facilities , " new york said .
third , ferc pre - empted the state ' s authority to set rates to recoup the costs " incurred by utilities to serve retail customers , that may be ' stranded ' ( unrecoverable by utilities ) due to competition , " the state said .
the u . s . court of appeals for the d . c . circuit consolidated scores of challenges to the new regulations , including those from nine state commissions , and last june upheld all of ferc ' s actions .
several losing parties , including new york , then asked the supreme court for a review . monday , the justices combined the new york case with one brought by energy giant enron power marketing and agreed to hear the case sometime next term .
in its own brief to the supreme court on behalf of ferc , the justice department said a section of the federal energy act " explicitly gives ferc jurisdiction over ' all transmission of electric energy in interstate commerce ' and ' all facilities for such transmission ' regardless of whether the transmission is part of a wholesale or retail transaction . "
besides , the department argued , a distinction between interstate and intrastate energy may be meaningless .
in a 1972 ruling , fpc vs . florida light and 00 - 809 , enron vs . ferc )
by michael kirkland , upi legal affairs correspondent
copyright 2001 by united press international .
subject code : 02000000 | 0 | ham | court weighs u . s . power over utilities | the us supreme court has decided to hear arguments over the native load exception - one of our key policy questions . while the answer is still many months away , this is a critical decision for enron .
we will keep everyone apprised of developments .
jim
- - - - - forwarded by james d steffes / na / enron on 02 / 26 / 2001 12 : 26 pm - - - - -
" ronald carroll " 02 / 26 / 2001 12 : 02 pm to : , , , , , , , , , , , , , , , , , , , , , , cc : subject : fwd : court weighs u . s . power over utilities
- - - - - message from " tracey bradley " on mon , 26 feb 2001 13 : 37 : 22 - 0600 - - - - -
to : , , " deanna king " , , , , " justin long " , , " minh - tu nguyen " , " nancy pickover " , , , , , ,
subject : court weighs u . s . power over utilities
court weighs u . s . power over utilities
( february 26 , 2001 )
washington , feb 26 , 2001 ( united press international via comtex ) - - in a case that could prove pivotal for energy competition , the supreme court said monday it would hear argument next term on whether the federal energy regulatory commission can regulate the transmission of electricity within a state .
at issue is whether ferc regulations can foster competition in the local electricity marketplace . but the case also tests whether the supreme court will continue enhancing state power at the expense of the federal government , as it has in a number of decisions in recent years .
and far from being a dusty exercise in legal maneuvering , the case is also just one more example of how the actions of the supreme court can affect the average american .
the financial stakes are huge for the suppliers and distributors of electricity , but the dispute also could have a direct influence on how much consumers pay for electricity . though california is not a party in the case , the energy crisis in that state and its ramifications in neighboring states have brought concern over electric utilities to the forefront .
the federal power act of 1935 gave the federal government the authority to regulate interstate transmission of energy , but largely left an individual state in charge when it came to the energy transmission within that state ' s borders . in 1935 , " most electric facilities were intrastate facilities " operating within a particular state ' s borders , new york told the supreme court in a petition .
in 1998 , however , " ferc pre - empted state regulation of both the delivery of electricity from a generator to a retail consumer in the same state and the use of local distribution facilities to deliver electricity that is resold , " new york representatives said . " ferc envisioned the introduction of competition , not only in its jurisdictional ( wholesale ) market . . . but also in the state jurisdictional retail market , and concluded that competition allowed it to expand its jurisdiction in three areas . "
first , ferc asserted its jurisdiction over retail transactions when states " unbundled , " or separated , retail rates into charges for delivery and electricity . second , " ferc decided that if a seller of unbundled wholesale energy made use of a local distribution system , ferc - - not the states - - would set the rates that the seller would pay for the use of those . . . facilities , " new york said .
third , ferc pre - empted the state ' s authority to set rates to recoup the costs " incurred by utilities to serve retail customers , that may be ' stranded ' ( unrecoverable by utilities ) due to competition , " the state said .
the u . s . court of appeals for the d . c . circuit consolidated scores of challenges to the new regulations , including those from nine state commissions , and last june upheld all of ferc ' s actions .
several losing parties , including new york , then asked the supreme court for a review . monday , the justices combined the new york case with one brought by energy giant enron power marketing and agreed to hear the case sometime next term .
in its own brief to the supreme court on behalf of ferc , the justice department said a section of the federal energy act " explicitly gives ferc jurisdiction over ' all transmission of electric energy in interstate commerce ' and ' all facilities for such transmission ' regardless of whether the transmission is part of a wholesale or retail transaction . "
besides , the department argued , a distinction between interstate and intrastate energy may be meaningless .
in a 1972 ruling , fpc vs . florida light and 00 - 809 , enron vs . ferc )
by michael kirkland , upi legal affairs correspondent
copyright 2001 by united press international .
subject code : 02000000 | 2001-02-26T00:00:00 |
811 | june vacation please submit your june vacation to me asap .
thank you !
yvette
x 3 . 5953 | 0 | ham | june vacation | please submit your june vacation to me asap .
thank you !
yvette
x 3 . 5953 | 2000-05-24T00:00:00 |
28,531 | houston energy expo > 2001 houston energy expo
> brought to you by nesa / hea
>
> four grand prize drawings
> to be held during general session
> wednesday , march 21
> 8 : 30 a . m . - 11 : 00 a . m .
>
> three sets of pga tour championship walk of fame badges for the tournament
> being held october 2001 at champions golf course and one american express
> $ 2 , 500 travel voucher for a fabulous european vacation ( or destination of
> your choice ) .
>
> please join nesa / hea in welcoming our distinguished general session
> speakers on wednesday , march 21 st .
>
> natural gas
> 8 : 30 - 9 : 10 a . m . alice fernandez , ferc
> e - commerce
> 9 : 10 - 9 : 50 a . m . marc karstaedt , burntsand ( us ) inc .
> electric
> 9 : 50 - 10 : 30 a . m . jeffry pollock , brubaker & associates
> keynote speaker
> 10 : 30 - 11 : 00 a . m . john somerhalder , el paso energy corporation
>
> nesa / hea would like to extend a special thank you to our gracious 2001
> energy expo sponsors : gold level - apb energy , inc . / truequote and
> context integration . bronze level - platt ' s and sungard .
>
> all registered delegates should have received written confirmation of
> their registration . if you did not receive confirmation of registration
> you will need to register on - site . delegate prospectus and registration
> form can be obtained on our web site at www . nesanet . org . nesa / hea
> headquarters will be closed monday , march 19 through friday , march 23 ,
> 2001 .
>
> join us at the george r . brown convention center for the energy services
> industry conference and trade show . the 11 th annual houston energy expo -
> accept no substitutes ! | 0 | ham | houston energy expo | > 2001 houston energy expo
> brought to you by nesa / hea
>
> four grand prize drawings
> to be held during general session
> wednesday , march 21
> 8 : 30 a . m . - 11 : 00 a . m .
>
> three sets of pga tour championship walk of fame badges for the tournament
> being held october 2001 at champions golf course and one american express
> $ 2 , 500 travel voucher for a fabulous european vacation ( or destination of
> your choice ) .
>
> please join nesa / hea in welcoming our distinguished general session
> speakers on wednesday , march 21 st .
>
> natural gas
> 8 : 30 - 9 : 10 a . m . alice fernandez , ferc
> e - commerce
> 9 : 10 - 9 : 50 a . m . marc karstaedt , burntsand ( us ) inc .
> electric
> 9 : 50 - 10 : 30 a . m . jeffry pollock , brubaker & associates
> keynote speaker
> 10 : 30 - 11 : 00 a . m . john somerhalder , el paso energy corporation
>
> nesa / hea would like to extend a special thank you to our gracious 2001
> energy expo sponsors : gold level - apb energy , inc . / truequote and
> context integration . bronze level - platt ' s and sungard .
>
> all registered delegates should have received written confirmation of
> their registration . if you did not receive confirmation of registration
> you will need to register on - site . delegate prospectus and registration
> form can be obtained on our web site at www . nesanet . org . nesa / hea
> headquarters will be closed monday , march 19 through friday , march 23 ,
> 2001 .
>
> join us at the george r . brown convention center for the energy services
> industry conference and trade show . the 11 th annual houston energy expo -
> accept no substitutes ! | 2001-03-16T00:00:00 |
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| 2004-10-18T00:00:00 |
2,115 | re : apache deal 384247 10 / 00 please follow are current practice and pay the lower price .
thanks
bob
enron capital management
from : david baumbach @ ect 11 / 21 / 2000 03 : 55 pm
to : megan parker / corp / enron @ enron
cc : daren j farmer / hou / ect @ ect , bob m hall / na / enron @ enron
subject : re : apache deal 384247 10 / 00
according to the contract brief i received , the 2 . 175 is a 1999 price . i
believe my pricing is correct . bob or darren may be able your questions
better .
dave
enron north america corp .
from : megan parker @ enron 11 / 21 / 2000 03 : 27 pm
to : david baumbach / hou / ect @ ect
cc :
subject : apache deal 384247 10 / 00
i got an invoice for the gas we bought from apache for tenaska iv and they
have a different price . for deal 384247 , we have a price of 2 . 285 and a
demand fee of 0 . 457 for 25 , 000 / day . apache is billing us at 2 . 175 with no
demand charge . can you verify this price for me and let me know which is
correct ?
thanks ,
megan | 0 | ham | re : apache deal 384247 10 / 00 | please follow are current practice and pay the lower price .
thanks
bob
enron capital management
from : david baumbach @ ect 11 / 21 / 2000 03 : 55 pm
to : megan parker / corp / enron @ enron
cc : daren j farmer / hou / ect @ ect , bob m hall / na / enron @ enron
subject : re : apache deal 384247 10 / 00
according to the contract brief i received , the 2 . 175 is a 1999 price . i
believe my pricing is correct . bob or darren may be able your questions
better .
dave
enron north america corp .
from : megan parker @ enron 11 / 21 / 2000 03 : 27 pm
to : david baumbach / hou / ect @ ect
cc :
subject : apache deal 384247 10 / 00
i got an invoice for the gas we bought from apache for tenaska iv and they
have a different price . for deal 384247 , we have a price of 2 . 285 and a
demand fee of 0 . 457 for 25 , 000 / day . apache is billing us at 2 . 175 with no
demand charge . can you verify this price for me and let me know which is
correct ?
thanks ,
megan | 2000-11-27T00:00:00 |
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9,493 | california update - urgent please read 5 / 7 / 01 sources report that the bond authorization will be put to a vote today
the bridge loan financing bill will put to a vote today in the california
assembly . the republicans are currently in caucus until 3 : 30 pst and then
will go to the floor for a vote . the current situation is very fluid , but
sources now indicate that the bill would pass with a simple majority vote ,
lacking the two - thirds needed for an immediate bond issuance . if this is the
case , the bill would not take effect for 90 days and the state would be
forced to abandon its proposed bridge loan plans . absent of last minute
financial rescues by davis or a new longer bridge loan package ( unlikely )
socal could seek voluntary bankruptcy . the main problem would then be the
waiting period for financial relief from the state through the transmission
line purchase or other assistance .
there is an outside chance that republican defectors could precipitate from
the current caucus . there is extreme pressure on the republicans from davis
and angelides . if the bill failed due to lack of republican support , it
would provide davis the opportunity to blame republicans for on - going
expenditures of $ 70 m / day ( power purchases ) , and a possible bankruptcy by
socal . the last republican who gave support to a democratic bill ( ab lx ) ,
representative bill campbell , lost his job . sources also confirm that
democrats have not met with republicans on the bond issuance since last week . | 0 | ham | california update - urgent please read 5 / 7 / 01 | sources report that the bond authorization will be put to a vote today
the bridge loan financing bill will put to a vote today in the california
assembly . the republicans are currently in caucus until 3 : 30 pst and then
will go to the floor for a vote . the current situation is very fluid , but
sources now indicate that the bill would pass with a simple majority vote ,
lacking the two - thirds needed for an immediate bond issuance . if this is the
case , the bill would not take effect for 90 days and the state would be
forced to abandon its proposed bridge loan plans . absent of last minute
financial rescues by davis or a new longer bridge loan package ( unlikely )
socal could seek voluntary bankruptcy . the main problem would then be the
waiting period for financial relief from the state through the transmission
line purchase or other assistance .
there is an outside chance that republican defectors could precipitate from
the current caucus . there is extreme pressure on the republicans from davis
and angelides . if the bill failed due to lack of republican support , it
would provide davis the opportunity to blame republicans for on - going
expenditures of $ 70 m / day ( power purchases ) , and a possible bankruptcy by
socal . the last republican who gave support to a democratic bill ( ab lx ) ,
representative bill campbell , lost his job . sources also confirm that
democrats have not met with republicans on the bond issuance since last week . | 2001-05-07T00:00:00 |
13,301 | fw : re - distribution of flat panels to remote trading offices fyi
mark pickering
chief technology officer
enron net works , llc
_ _ _ _ _
- - - - - original message - - - - -
from : pickering , mark
sent : 16 october 2001 15 : 10
to : rub , jenny
subject : re : re - distribution of flat panels to remote trading offices
sounds good to me .
mark pickering
chief technology officer
enron net works , llc
_ _ _ _ _
- - - - - original message - - - - -
from : rub , jenny
sent : 16 october 2001 14 : 38
to : pickering , mark
subject : fw : re - distribution of flat panels to remote trading offices
importance : high
any issues with this ? jr
- - - - - original message - - - - -
from : harrington , stephen r .
sent : tuesday , october 16 , 2001 1 : 56 pm
to : rub , jenny ; harrelson , mike ; dopson , lametrice ; bucknell , martin ; elliott , clay ; cox , paige
cc : dietrich , dan ; smith , bruce
subject : re - distribution of flat panels to remote trading offices
importance : high
after consulting with the personnel of the remote team , we have assessed their needs , and are prepared to begin the initial swap - out of crts for flat panels to the various locations .
our first targets are toronto ( 10 18 " flats ) and calgary ( 25 15 " flats ) .
as we receive more through additional moves , we will include portland , new york , chicago , and other locations as needed .
i just need to know that everyone ' s okay for us to begin this process . thanks .
regards ,
stephen r . harrington
technical project manager , ecs project
enron net works , llc
w : 713 - 853 - 7619
p : 877 - 651 - 7361
c : 713 - 444 - 7279
stephen . harrington @ enron . com | 0 | ham | fw : re - distribution of flat panels to remote trading offices | fyi
mark pickering
chief technology officer
enron net works , llc
_ _ _ _ _
- - - - - original message - - - - -
from : pickering , mark
sent : 16 october 2001 15 : 10
to : rub , jenny
subject : re : re - distribution of flat panels to remote trading offices
sounds good to me .
mark pickering
chief technology officer
enron net works , llc
_ _ _ _ _
- - - - - original message - - - - -
from : rub , jenny
sent : 16 october 2001 14 : 38
to : pickering , mark
subject : fw : re - distribution of flat panels to remote trading offices
importance : high
any issues with this ? jr
- - - - - original message - - - - -
from : harrington , stephen r .
sent : tuesday , october 16 , 2001 1 : 56 pm
to : rub , jenny ; harrelson , mike ; dopson , lametrice ; bucknell , martin ; elliott , clay ; cox , paige
cc : dietrich , dan ; smith , bruce
subject : re - distribution of flat panels to remote trading offices
importance : high
after consulting with the personnel of the remote team , we have assessed their needs , and are prepared to begin the initial swap - out of crts for flat panels to the various locations .
our first targets are toronto ( 10 18 " flats ) and calgary ( 25 15 " flats ) .
as we receive more through additional moves , we will include portland , new york , chicago , and other locations as needed .
i just need to know that everyone ' s okay for us to begin this process . thanks .
regards ,
stephen r . harrington
technical project manager , ecs project
enron net works , llc
w : 713 - 853 - 7619
p : 877 - 651 - 7361
c : 713 - 444 - 7279
stephen . harrington @ enron . com | 2001-10-16T00:00:00 |
14,386 | re : cancelflights for next week - i ' m staying here should i cancel my trip ? i don ' t mind at all .
tammie schoppe
enron americas - office of the chair
assistant to louise kitchen
713 . 853 . 4220 office
713 . 646 . 8562 fax
713 . 253 . 2131 mobile
- - - - - original message - - - - -
from : kitchen , louise
sent : saturday , december 15 , 2001 4 : 39 pm
to : schoppe , tammie
subject : cancelflights for next week - i ' m staying here
louise kitchen
chief operating officer
enron americas
tel : 713 853 3488
fax : 713 646 2308 | 0 | ham | re : cancelflights for next week - i ' m staying here | should i cancel my trip ? i don ' t mind at all .
tammie schoppe
enron americas - office of the chair
assistant to louise kitchen
713 . 853 . 4220 office
713 . 646 . 8562 fax
713 . 253 . 2131 mobile
- - - - - original message - - - - -
from : kitchen , louise
sent : saturday , december 15 , 2001 4 : 39 pm
to : schoppe , tammie
subject : cancelflights for next week - i ' m staying here
louise kitchen
chief operating officer
enron americas
tel : 713 853 3488
fax : 713 646 2308 | 2001-12-17T00:00:00 |
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tyqcrsgqb rycpxxlm pehunwcut fyeevi onkvlb flvlkde . cesui . ryqbi noekmy | 1 | spam | re : order inquiry | sdhwb fqdtqbnq wgtrhbctf ivhlcpwu qbsmfoxun
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| 2004-09-16T00:00:00 |
5,567 | re : guest access to enrononline ed ,
i am glad i got it resolved . hope you will like the system .
vince
ekrapels on 02 / 18 / 2000 03 : 43 : 54 pm
to : donna greif / hou / ect @ ect
cc : vince j kaminski / hou / ect @ ect
subject : re : guest access to enrononline
dear donna , thanks for your help , and to vince as well . i ' ll access the site
next week , when i ' m back from a holiday weekend .
ed krapels
- - - - - original message - - - - -
from : donna greif [ mailto : donna . greif @ enron . com ]
sent : friday , february 18 , 2000 10 : 53 am
to : ekrapels @ esaibos . com
subject : guest access to enrononline
attention : esai
ed krapels
thank you for your interest in enrononline .
as requested , following is a guest password that will allow you temporary
view
only access to enrononline . please note , the user id and password are
case
sensitive .
guest user id : ena 61296
guest password : tr 84 byl 3
in order to apply for transaction status with enrononline , your company
needs to
complete a password application and registration form for a master user
account .
each master user will be able to grant various levels of access for
additional
users .
to obtain a password application and registration form , you can visit
our
website at www . enrononline . com and select the ? how to register ? link , or
call
our helpdesk at 713 / 853 - help ( 4357 ) .
we hope you will find that enrononline provides an easy and more efficient
way
to do business with enron . we look forward to transacting with you online .
sincerely ,
donna corrigan greif
enrononline helpdesk
713 / 853 - help ( 4357 )
- attl . htm | 0 | ham | re : guest access to enrononline | ed ,
i am glad i got it resolved . hope you will like the system .
vince
ekrapels on 02 / 18 / 2000 03 : 43 : 54 pm
to : donna greif / hou / ect @ ect
cc : vince j kaminski / hou / ect @ ect
subject : re : guest access to enrononline
dear donna , thanks for your help , and to vince as well . i ' ll access the site
next week , when i ' m back from a holiday weekend .
ed krapels
- - - - - original message - - - - -
from : donna greif [ mailto : donna . greif @ enron . com ]
sent : friday , february 18 , 2000 10 : 53 am
to : ekrapels @ esaibos . com
subject : guest access to enrononline
attention : esai
ed krapels
thank you for your interest in enrononline .
as requested , following is a guest password that will allow you temporary
view
only access to enrononline . please note , the user id and password are
case
sensitive .
guest user id : ena 61296
guest password : tr 84 byl 3
in order to apply for transaction status with enrononline , your company
needs to
complete a password application and registration form for a master user
account .
each master user will be able to grant various levels of access for
additional
users .
to obtain a password application and registration form , you can visit
our
website at www . enrononline . com and select the ? how to register ? link , or
call
our helpdesk at 713 / 853 - help ( 4357 ) .
we hope you will find that enrononline provides an easy and more efficient
way
to do business with enron . we look forward to transacting with you online .
sincerely ,
donna corrigan greif
enrononline helpdesk
713 / 853 - help ( 4357 )
- attl . htm | 2000-02-21T00:00:00 |
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