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I have not discussed August forward with anyone yet. I would like to discuss
our options on handling the pool with Heidi, hopefully after the July 4th
holiday.
I hope you guys have a happy 4th if I don't talk to you before.
From: John M Singer @ ENRON 06/30/2000 06:45 AM
To: Chris Germany/HOU/ECT@ECT
cc: [email protected]@ECT
Subject: Re: EOG for July, Peoples
Since we have meters (Phillips Production meters) in the pool, if PNG will
allow, it may be best to transfer the pool to ENA's name. If the CES pool
has to be closed, Phillips Production will have to sign documents to move
meters from pool to pool. I'm not sure what the lead time is to move meters.
If you are going to nom 430 Dth/Day, Heidi needs to nom Phillips Production @
9,058 Mcf/Month (9,058 * 1.03 = 9,330 dth) plus Power Gas 4,000 Dth/month.
Is Clinton going to take the PNG throug the end of the contracts? Power Gas
expires 10/31, Phillips expires 11/30.
Chris Germany@ECT
06/29/2000 02:57 PM
To: John M Singer/Corp/Enron@ENRON
cc: [email protected], Marde L Driscoll/HOU/EES@EES
Subject: EOG for July, Peoples
ENA is selling the Power Gas Marketing pool gas behind East Ohio
(10,000/month) to EES for the month of July. EES has the ability to take
this gas for the term of the deal (through Oct 2000). I told Marde we would
talk about that after the 4th. EES will nominate this gas directly from
Power's pool, so Heidi does not need to be involved at all. Heidi, it looks
like this pool can be terminated.
Peoples, for July ENA is selling 430/day to Clinton Energy (Latrobe). Heidi
is working on that. Heidi also informed me yesterday that CES was
terminating the Peoples pool effective 8/1/2000. I suggested that we may
need to transfer the pool to ENA, because there will still be activity in
August due to the Latrobe fuel credit. However, we may be able to transfer
any balances to EES effectve 8/1/2000. Hopefully, we can talk about this
after the 4th.
Let me know if anyone has any questions. | {
"pile_set_name": "Enron Emails"
} |
Select pts.REF_PERIOD_DT, pts.CURVE_AMT FROM EGS.EGS_CURVE_DEF def, EGS.EGS_CURVE_POINTS pts WHERE def.CURVE_DEF_ID = pts.CURVE_DEF_ID AND def.CURVE_CD='NG' AND def.BOOK_TYPE_CD='P' AND def.CURVE_TYPE_CD='PR' AND def.EFFECTIVE_DT = TO_DATE('01-Oct-2001','DD-MON-YYYY')AND pts.REF_PERIOD_DT BETWEEN TO_DATE('01-Nov-2001','DD-MON-YYYY') AND TO_DATE('01-Oct-2007','DD-MON-YYYY') order by pts.REF_PERIOD_DT | {
"pile_set_name": "Enron Emails"
} |
Did you know that facilities provides more services to employees than most town provide their residents? Find out how many visitors come to Enron, how many calls operators take and how many services requests are made at the Facilities Help Desk. Ask Brenda Anderson, Supervisor of Facilities and Customer Services, all your questions about our "city within a city" (today) Wednesday, June 13 on eSpeak at 10 a.m. Houston time.
Can't make the live event? No worries. Go to eSpeak (http://ethink.enron.com/eSpeak/exec/default.asp) now and submit your question. Sharon will try to answer it during her event and you can read the transcript later. | {
"pile_set_name": "Enron Emails"
} |
CAG-10 Northern Natural, RP00-223Northern states that the reason for this filing is to comply with the Commission's Order dated April 16, 2001 in Docket No. RP00-223-003. Pursuant to the April 16 Order, Northern has revised Tariff Sheet No. 125A to reflect the offering of Limited Firm Throughput Service (LFT) in the Field Area year-round and in the Market Area during the summer (April through October). Tariff Sheet No. 125D has been revised to incorporate Northern's
CAG-1 Northwest Pipeline, RP01-416. Expect order on revisions to provide for the equitable sharing of lateral facility costs between a shipper for whom a lateral facility was initially constructed and a third-party shipper that has requested service on a relatively inexpensive expansion of the original lateral facility.
CAG-4 Transcolorado, RP01-419. Expect order on web site services to a more standardized name, rather than the proprietary system entitled the Direct Access Request and Tracking System (DART).
CAG-8 EPGT Texas PipelinePG&E TPLP is an intrastate pipeline as defined in Section 2(16) of the NGPA, operating in the State of Texas.
http://www.ferc.gov/public/isd/sunshine.htm | {
"pile_set_name": "Enron Emails"
} |
FYI if you haven't already heard...........A quick update on PJM:
1) GPU: The PA PUC ruled in favor of the First Energy merger, but deferred a rate increase. Collaberative meeting are supposed to be taking place over the next month, but Enron's regulatory view is that a setlement will not be able to be reached. The question is if First Energy is still interested in persuing the merger if a rate increase does not occur. If the merger does not occur, I think this increases our chances of a deal to mitigate GPU's risk, if we can work out the credit issues. GPU will probably be stalling most activity until a definitive answer is announced. The NJ BPU will determine its verdict on the merger Jun 29.
2) PPL's (regulated) RFP is due tomorrow. Enron will not be quoting, given the fact that the size is HUGE.......46,260,000 PV'd MWH, ancillary and ICAP requirements. I believe PPL (unreg) will be quoting on a this, and are talking ot them about taking them out of some of the energy risk, leaving them more merchant MW.
Also , the quotes are due tomorrow, but must be held open until July 16 (what a deal!).
3) NJ Board of Public Utilities (BPU) is looking to hold a joint competitive bid of energy and capacity to all default suppliers. This is expected to be 18,000MW, which includes the load of PSEG, GPU NJ, and Connectiv NJ. The BPU will be reviewing the proposals Aug 1.
I will be out of the office Wed- Fri, seeing Exelon, GPU, PPL, and UGI.
Janelle | {
"pile_set_name": "Enron Emails"
} |
The report named: Enron Americas Position Report <http://erv.corp.enron.com/linkFromExcel.asp?report_cd=102&report_name=Enron+Americas+Position+Report&category_cd=2&category_name=ENRON%20CONSOLIDATED&toc_hide=1&sTV1=2&TV1Exp=Y¤t_efct_date=10/26/2001>, published as of 10/26/2001 is now available for viewing on the website.
(Revision: 9)
Publisher's Notes:
FINAL | {
"pile_set_name": "Enron Emails"
} |
Dear Mark:
I spoke with Janie Bonnard and Jeanette Elbertson concerning a possible
opening for a Legal Specialist within your group and Jeanette asked that I
forward my resume to you.
During my years at Enron, I worked closely with Anthony Duenner on the
Portland General Merger while I was still with Vinson & Elkins (1996-1997)
and then joined Enron in 1997 after 14 years with Vinson and Elkins. I
continued to work with Anthony Duenner (1997-2000) in South America and East
Asia. After a reorganization, I joined the CALME Region at the end of April
2000, as a Manager, and reported to Shawn Cumberland, President and COO for
the Region.
Again, I find myself in the middle of another reorganization, and would be
very interested in discussing a position in your group, should one be
available. I can be reached at X 6-7687,
Thank you for your consideration.
Very truly yours,
Peggy Sichenze | {
"pile_set_name": "Enron Emails"
} |
FYI - I hope this might help provide some consistency of application.
Call if you have the need. Steve 37885 | {
"pile_set_name": "Enron Emails"
} |
My apologies,
The last few products were doubled up. Please see the revised list.
thanks,
Stephanie
From: Karen Lambert on 10/10/2000 12:51 PM
To: Stephanie Sever/HOU/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT
Subject: Re: New Profile Template - 10/10
Please double check:
The Credit tab product categories run from E to HT. The Legal and Contract
tab product categories run from E to IE.
From: Stephanie Sever
10/10/2000 12:40 PM
To: Tom Moran/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Tana
Jones/HOU/ECT@ECT, Karen Lambert/HOU/ECT@ECT
cc: Lisa Lees/HOU/ECT@ECT
Subject: New Profile Template - 10/10
I have updated the profile template to include new products (in magenta) as
well as deleting the following from the template:
BEL Gas Fin Swap
BEL Gas Phy Opt
BEL Gas Phy Swing
ESP Power Fin Opt
NOR Power Phy Fwd
Nor Weather CDD opt
Nor Weather CDD Swap
Nor Weather PREC Opt
Nor Weather PREC Swap
UK Power Fin Opt
UK RejectedCoal CIF Phy Fwd
UK RejectedCoal CIF Phy Opt
UK Steamcoal CIF Phy Fwd
UK SteamCoal CIF Phy Opt
UK Weather CDD Opt
UK Weather CDD Swap
UK Weather PREC Opt
UK Weather PREC Swap
US Alum Fin Midwest Internal
US Alum Phy Midwest Transac
US Copper Fin Bonded Internal
Please begin using the new profile and let me know if you have any questions.
Thanks,
Stephanie | {
"pile_set_name": "Enron Emails"
} |
Attached you will find the Acceptance and Performance Evaluation Testing
document Scott has asked me to send to you.
Thank you,
Claudette Harvey | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Tana Jones/HOU/ECT on 10/26/2000 01:13 PM -----
Bradley Diebner
10/26/2000 11:03 AM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Bernice Rodriguez/HOU/ECT@ECT,
Brant Reves/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, David
Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT,
Cynthia Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe
Global Contracts and Facilities, Enron Europe Global CounterParty, Stephanie
Sever/HOU/ECT@ECT, Bradley Diebner/HOU/ECT@ECT, Stacey
Richardson/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Claudia Clark/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Lisa
Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron,
Trang Le/HOU/ECT@ECT
cc:
Subject: Steel approvals 10/26/00
The Steel approvals for 10/26/00 are attached below. They contain all the
counteparties from yesterday's approval list. There are some changes to
yesterday's spreadsheet with regards to the steel products and the styrene
product. There has also been an additional group of customers added.
Regards,
bd | {
"pile_set_name": "Enron Emails"
} |
The International Bar Association Section on Energy & Natural Resources
Law and the Section of Business Law Utility Committee presents, the
Sixth Electricity Conference. The conference "Restructuring Revisited:
Has Electricity Reform Gone Awry? will be held on February 25-26, 2002,
at the Claremont Resort and Spa in Berkeley, California.
This conference will focus on the challenges that electricity
restructuring initiatives are facing in different regions of the
Americas, with special emphasis on the recent experiences in California
and other parts of the USA, Mexico, Brazil, Argentina and Canada.
It will examine the implementation of advanced restructuring concepts on
governments, regulators and power industries, as well as the
implications of future electricity restructuring, reform and
privatisation initiatives around the world.
Here are the titles of the sessions that will be presented:
? The Current Status of Electricity Restructuring and Reform: Where are
Electricity Markets Going? A Global View
? California: A Case Study
? Experiences in Restructuring from Latin America
? Implementing Electricity Restructurings: Specific Lessons from
California and Abroad
? Expanding Supply: The Tension Between Facility Expansion and
Environmental Protection
? Protecting Competition in Restructured Markets: New Challenges for
Regulation and Antitrust/Competition Law Enforcement
? Governing, Managing and Regulating Through Crisis: Lessons from
California and Elsewhere: Panel Discussion
To get the complete program schedule and to obtain registration
information, visit the meetings and events page on the EBA website by
clicking on the link below.
http://www.eba-net.org/meetings.htm | {
"pile_set_name": "Enron Emails"
} |
Hi guys. It's nearing that time again.
I'm getting ready to put together the EMCA newsletter, so if there's
anything you'd like put in there, please let me know. Anything (almost)
goes.... restaurant reviews, new business notices, interesting people, lost
pets, for sales, etc.
I'll need it by the second week of March. Please remember that everything
ends up being edited for content and length... There's so much going on
around here that it's hard to squeexe everything into the newsletter!
Put it in my mailslot, leave a message on my machine (up to 4 minutes), or
e-mail me.
Julie Young
2117 Stanford
(713) 528-5614
[email protected]
------------------------ Yahoo! Groups Sponsor ---------------------~-->
Buy Stock for $4.
No Minimums.
FREE Money 2002.
http://us.click.yahoo.com/BgmYkB/VovDAA/ySSFAA/NoOolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
[email protected]
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/ | {
"pile_set_name": "Enron Emails"
} |
Certain scheduling complexities for each of Christian Yoder, Shari Stack and
Steve Hall over the balance of the week can best be dealt with by keeping the
following message around to refer to:
Christian Yoder: Out of office all of Wednesday and parts of Thursday and
Friday to be with wife in surgery situation. Leave voice mails at office
number: 503-464-7845 or call at home: 503-296-9523. Do not call pager
because it is lost.
Shari Stack: In the Portland office on Wednesday and Friday at
503-464-7674, but in Phoenix pushing the EEI contract at a conference on
Thursday. Leave voice mails at her Houston number 713-853-9477, or contact
her Portland assistant Jan King at 503-464-8814.
Steve Hall: At west desk on Wednesday at 503-464-7795. Leave voice mails at
this number on Thursday and Friday when he will be in Seattle.
We will all make every effort to remain responsive during this unusual
time.----cgy | {
"pile_set_name": "Enron Emails"
} |
This is a file I have had set up for some years. From time to time, we
receive third party subpoenas from the parties.
I recently received (through Carrin Patman) an informal request from Exxon's
counsel in this matter for some old Exxon/Intratex gas supply contracts.
Exxon's expert wants to use these contracts as part of his database to show
that, contrary to the royalty class's primary theory of recovery, Exxon did
adequately market the royalty owners' gas.
Exxon's attorney has already tried to find these old contracts at Exxon, but
there is no cross-reference index available on these old documents. Exxon
will pay for our costs in responding and has no problem with us wanting them
to be kept confidential. The parties recently got a trial setting for August
28 in Winkler County state court (Kermit Texas). Exxon will file a motion
for continuance, but of course can't be sure that it will be granted.
Parenthetically, plaintiffs are asking for $53 million in actual damages,
and up to twenty times that in punitives, plus 40% attorneys' fees. I do
not, however, believe that Intratex or any present or former Enron entity has
any exposure. This case has been around for five years, and no Enron entity
has ever been made a party, nor has there been any hint of that. You should
also be aware that a subset of the class brought exactly the same case
against Exxon about a year ago and the jury poured them out. That case,
Haley v. Exxon, also involved the same plaintiffs' experts.
I am working with Bonnie to find out who the right business records
custodian would be; it may be that V&E actually has all these old documents.
Once I find this out, we will coordinate a response.
Britt | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Love, Phillip M.
Sent: Thursday, September 20, 2001 11:32 AM
To: Bosse, Kevin; Simien, Jimmy; Hull, Bryan; Bass, Eric; Winfree,
O'Neal D.; Ryder, Patrick; Stewart, Willie; Giron, Darron C.; Lenhart,
Matthew
Subject: FW: The CODE
-----Original Message-----
From: Brady, Edward
Sent: Thursday, September 20, 2001 11:20 AM
To: Love, Phillip M.; Mills, Bruce; Murray, Kevin;
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'
Subject: FW: The CODE
-----Original Message-----
From: Eric Brady [mailto:[email protected]]
Sent: Wednesday, September 19, 2001 7:30 PM
To: [email protected]; [email protected]; [email protected];
[email protected]; [email protected];
[email protected]; [email protected]; [email protected]
Subject: The CODE
The CODE (rules for men):
1. Thou shall not rent 'Chocolat'.
2. Under no circumstances may 2 men share an umbrella.
3. Any man who brings a camera to a bachelor party may be legally killed and
eaten by his fellow partygoers.
4. When you are queried by a buddy's wife, girlfriend, mother, father,
priest, shrink, dentist, accountant, or dog walker, you need not and should
not provide any useful information whatsoever as to his whereabouts. You are
permitted to deny his very existence.
5. Unless he murdered someone in your immediate family, you must bail a
friend out of jail within 12 hours.
6. You may exaggerate any anecdote told in a bar by 50 percent without
recrimination; beyond that, anyone within
earshot is allowed to call bullshit. (Exception: When trying to pick up a
girl, the allowable exaggeration rate rises to 400 percent)
7. If you've known a guy for more than 24 hours, his sister is off-limits
forever.
8. The minimum amount of time you have to wait for another guy who's running
late is 5 minutes. For a girl, you are required to wait 10 minutes for every
point of hotness she scores on the classic 1-10 scale.
9. Bitching about the brand of free beer in a buddy's refrigerator is
forbidden. You may gripe if the temperature is unsuitable.
10. No man is ever required to buy a birthday present for another man. (In
fact, even remembering a friend's birthday is strictly optional.)
11. Agreeing to distract the ugly friend of a hot babe your buddy is trying
to hook up with is your legal duty. Should you get carried away with your
good deed and end up having sex with the beast, your pal is forbidden to
speak of it, even at your bachelor party.
12. Before dating a buddy's ex, you are required to ask his permission; and
he, in return, is required to grant it.
13. Women who claim they "love to watch sports" must be treated as spies
until they demonstrate knowledge of the game and the ability to pick a
buffalo wing clean.
14. If a man's zipper is down, that's his problem - you didn't see nothin'.
15. The universal compensation for buddies who help you move is beer.
16. A man must never own a cat or like his girlfriend's cat.
17. You girlfriend must bond with your buddy's girlfriends within 30 minutes
of meeting them. You are not required to make nice with her gal pals'
significant dick-heads --- low-level sports bonding is all the law requires.
18. When stumbling upon other guys watching a sports event, you may always
ask the score of the game in progress, but you may never ask who's playing.
19. When your girlfriend / wife expresses a desire to fix her whiney friend
with your pal, you may give her the go-ahead only if you'll be able to warn
your buddy and give him time prepare excuses about joining the priesthood.
20. (Gas Warfare Act) you may flatuate in front of a woman only after you've
brought her to climax. But, if you trap her head under the covers for the
purpose of flatuent entertainment, she's officially your girlfriend.
21. It is permissible to consume a fruity chick drink only when you're
sunning on a tropical beach...And it's delivered by a topless
supermodel...and it's free.
22. Unless you're in prison, never fight naked.
23. A man in the company of a hot, suggestively dressed woman must remain
sober enough to fight.
24. If a buddy is outnumbered, outmanned, or too drunk to fight, you must
jump into the fight. Exception: If within the last 24 hours his actions have
caused you to think, "What this guy needs is a good ass-whoopin," you may
sit back and enjoy.
25. Friends don't let friends wear Speedo's. Ever. Issue closed.
26. Phrases that may NOT be uttered to another man while weight lifting:
"Yeah, baby, push it!" "C'mon, give me one more! Harder!" "Another set and
we can hit the showers." "Nice ass, are you a Sagittarius?"
27. Never hesitate to reach for the last beer or the last slice of pizza,
but not both. That's just plain mean.
28. If you compliment a guy on his six-pack, you better be referring to his
beer.
29. Never join your girlfriend / wife in dissings a buddy, except when she's
withholding sex pending your response.
30. Never talk to a man in the bathroom unless you're on equal footing: Both
urinating or both waiting in line. In all other situations, a nod is all the
conversation you need.
31. If a buddy is already singing along to a song in the car, you may not
join him ...too gay.
32. Before allowing a drunken friend to cheat on his girl, you must attempt
one intervention. If he is able to get on his feet, look you in the eye, and
deliver a "F@CK OFF!" You are absolved of your of responsibility.
33. The morning after you and a babe who was formerly "just a friend" have
carnal, drunken monkey sex, the fact that you're feeling weird and guilty is
no reason not to nail her again before the discussion about what a big
mistake it was.
34. In Black Jack, always split aces and eight's. No arguments.
Chris K. Villemarette
Financial Consultant
Stanford Group Company
Wealth Management
Office: 225-381-0508
Wats : 800-982-0009
Fax: 225-381-0650
email: [email protected]
**********************************************************************
Any information or data provided in this message has been obtained from
sources we believe to be reliable, but we do not guarantee its accuracy
or completeness. Such information reflects current market conditions,
is subject to change without notice and should not be relied upon for
tax purposes. Any transactional details are provided at your request
and do not supersede your normal trade confirmations or monthly
statements. Any product recommended is subject to prior sale. Stanford
Group Company, its affiliated companies, and/or officers, directors or
employees, may at times have a position in or make a market in any
security described above, and/or may act as an investment banker or
advisor to any company referenced.
************************************************************************
--
Eric C. Brady
727.204.9995
[email protected] | {
"pile_set_name": "Enron Emails"
} |
FYI
----- Forwarded by Scott Bolton/Enron Communications on 11/22/99 08:19 AM
-----
Jeffrey Keeler@ENRON
11/19/99 10:57 AM
To: Scott Bolton/Enron Communications@Enron Communications
cc: Cynthia Sandherr/Corp/Enron@ENRON, Joe Hillings/Corp/Enron@ENRON, Chris
Long/Corp/Enron@ENRON, Steven J Kean/HOU/EES@EES, Richard Shapiro/HOU/EES@EES
Subject: Internet Language DROPPED from Satellite TV bill
Scott:
Just to follow up on my e-mail and voice mail messaged to you: language that
would have barred internet companies from obtaining the licenses to transmit
movies, sporting events and other broadcast programs was DROPPED from H.R.
1554, the satellite TV bill (which is attached to H.R. 3194, the omnibus
appropriations legislation).
Please see the CQ article below for more information on the legislation in
general. We will certainly continue to watch for language like this that
might surface in future legislation. In the context of ECI's larger
legislative agenda, we may also want to explore the potential to develop
legislation that would pro-actively ensure the broadcast of licensed
programming over the internet.
Cheers,
Jeff
*********
TELECOMMUNICATIONS: SATELLITE BILL SURVIVES A SCARE, CARRIES OTHER MEASURES
WITH IT
By Alan K. Ota, CQ Staff Writer
Nov. 18, 1999 - The uproar in the Senate Thursday over deletion of a loan
guarantee program designed to improve rural television service nearly
obscured the significance of the satellite television bill that was linked to
the fiscal 2000 omnibus spending bill (HR3194).
The controversial provision would have created a new Agriculture Department
program to guarantee $1.25 billion in loans enabling satellite providers to
transmit local programming to rural subscribers -- service they insist is too
expensive to provide without help. It was added to the satellite TV bill
(HR1554) in conference but dropped when the final version (S1948) was
referenced in HR3194.
Rural-state senators led by Max Baucus, R-Mont., blocked action on a stopgap
funding bill (HJRES82) until leaders promised them a floor vote on the loan
guarantee legislation or similar provisions by next April 1.
Also dropped from the final bill was language that would haved barred
Internet service providers from obtaining the licenses necessary to transmit
movies, sports events and other broadcast programming. Cable and satellite
providers would be the only entities with such licenses. America Online and
other companies lobbied furiously to strip the provision.
The final measure would for the first time allow satellite companies to beam
local news, sports, weather and other broadcast programming to all of their
customers, just as cable providers do.
And it would grant a reprieve to more than a million satellite subscribers
now receiving local channels who otherwise would lose those signals by year's
end. A court had ruled the subscribers do not qualify to receive local
signals by satellite under current law.
Satellite companies would have to gain permission from local broadcast
stations within six months after they begin retransmitting those signals.
By Jan. 1, 2002, satellite carriers that transmit local channels would have
to carry all of the channels in that community, a "must-carry" requirement
already imposed on cable providers.
The measure would extend for five years the licenses under which satellite
companies retransmit the signals of superstations and distant network
stations and reduce the copyright fees they must pay.
The bill would generally retain existing standards for determining which
subscribers are eligible to receive distant network signals by satellite, but
it would require the Federal Communications Commission to review its model
for determining which areas are unable to receive acceptable-quality
broadcast signals over the air.
Like the conference report on HR1554, the final satellite bill carries a
number of pieces of unrelated legislation.
* Patent Overhaul. In a victory for Senate Judiciary Committee Chairman Orrin
G. Hatch, R-Utah, negotiators included a patent system overhaul bill (HR1907)
that was strongly opposed by some inventors and by the Eagle Forum, a
conservative group headed by political activist Phyllis Schlafly, who argued
that it would permit foreign companies to steal American technology.
The bill would require publication of some patent applications, which have
been filed both in the United States and abroad, within 18 months of filing,
whether or not patents have been granted.
The measure also would require the Patent and Trademark Office to approve or
reject a patent application within three years. It would provide patent term
extensions for any not approved within that three-year period to guarantee
investors a 17-year patent term. Currently, patents are for 20 years, but
inventors often lose years waiting for approval of their applications.
* Low-Power TV Stations. The omnibus spending bill also included provisions
of a bill (HR486) to create a new "Class A" license for low-power television
stations equivalent to those granted to full-service "primary" stations.
The provisions are designed to help low-power stations that often provide
"niche" programming in urban areas and local programming in rural areas
become more stable and commercially viable.
* 'Cybersquatting.' The measure includes provisions of a bill (S1255) to bar
unauthorized use of trademark-protected brand names in Internet addresses.
The bill was passed by the Senate by voice vote Aug. 5; the House passed a
different version Oct. 26.
* PBS Donor Lists. In response to disclosures earlier this year that some
public broadcast stations had exchanged donor lists with political parties --
and primarily with Democratic Party units -- negotiators included a provision
to prohibit such stations from sharing their donor lists with political
parties. It also would bar disclosure of its donors to any non-affiliated
group without the donor's consent. Rep. Cliff Stearns, R-Fla., had introduced
legislation (HR2791) earlier this year to prohibit the list-sharing, but the
bill did not advance. | {
"pile_set_name": "Enron Emails"
} |
The following document, received today, has been forwarded for your immediate attention:
Notice Letter dtd 12/13/01 from Ince & Co. to NRAI for Enron Capital & Trade Resources International Corp. by Fed Ex.
PLEASE ADVISE IF NOT RECEIVED WITHIN 1 BUSINESS DAY.
Thanks, and if you have any questions, please feel free to contact me at X33486. | {
"pile_set_name": "Enron Emails"
} |
Here is the Schedule B Attachment.
Ben | {
"pile_set_name": "Enron Emails"
} |
Mark Taylor is apparantly talking to you tomorrow about this.
I am intending to sent out PA's in the "normal" format tomorrow. If we have to jump through an additional hoop, we can do this once we have a signed PA (but I'm sure you will prevail!)
Dave | {
"pile_set_name": "Enron Emails"
} |
CALENDAR ENTRY: APPOINTMENT
Description:
Robert/Sunflower & Utilicorp Review 42C2 attendees: L. Berger, Raetta, J. Moore, J. Buchanan, T. Dykes, N. Callans, P. Carter, Harry, K. Langerstrom, J. Bollinger, R. Jansen Conference Room 42C2
Date: 10/10/2000
Time: 1:00 PM - 2:00 PM (Central Standard Time)
Chairperson: Outlook Migration Team
Detailed Description: | {
"pile_set_name": "Enron Emails"
} |
Lisa J. Mellencamp
Enron North America Corp.
1400 Smith St.
Houston, TX 77002
Tel: (713) 853-7986
Fax: (713) 646-3393
----- Forwarded by Lisa Mellencamp/HOU/ECT on 07/19/2000 11:15 AM -----
Richard Lydecker@ENRON
07/19/2000 10:58 AM
To: W David Duran/HOU/ECT@ECT
cc: Lisa Mellencamp/HOU/ECT@ECT
Subject: Infineum Lawsuit
Quick summary of where we stand:
Richard Sanders will be legal coordinator from Enron side in connection with
this litigation. Leboeuf Lamb will be our outside litigation counsel.
Our legal team has concluded that Infineum does not have the right to take
steam in excess of their contractual maximums. The loss of revenue (about
$1.5 million annually) is clearly an adverse impact to our Linden plant which
relieves even any ambiguous obligation to offer "excess" steam above the
maximum to Infineum.
The initial strategy is to prepare a 12 B 6 (whatever that is) motion to
dismiss which presents the contractual relationships to the court and argues
that there is no reasonable interpretation of the contract and intent of the
parties that would support Infineum's allegations that we have an absolute
obligation to offer Infineum any steam in excess of the contractual maximum.
This motion could be 2-3 months pending.
If the motion is granted, this particular lawsuit is quashed.
If the motion is denied, we start spending real money re disclosure,
depositions, counter-claims etc. At that point we would probably take a very
aggressive position vis-a-vis claims for damages against Infineum to raise
the stakes for them and put real dollar risk exposure back to them for
continuing the lawsuit.
Again, this suit is a cynical attempt to gain leverage in negotiations to
supply energy to Infineum from Linden 6. In the meeting at which our guys
were informed by Infineum that the litigation would be initiated it was clear
that if we gave them a big enough break on electricity price, the lawsuit
would go away. To me that seems pretty close to, if not actually, abuse of
process.
Will keep you informed. Let me know if there are any specific questions.
Dick. | {
"pile_set_name": "Enron Emails"
} |
I would guess that Paul will lose his job within the next few weeks...but that should not leave the walls of your house. I think I am ok if I want to stay. It is really a scary situation and this is what I get for corporate lifestyle I guess. We probably won't know the full effects for several more months, but I think that a lot of people will get laid off before Christmas.
Gald to hear that Mom and Dad made it ok. Hope y'all are having fun together.
How are you feeling? I have not talked to you since your wonderful phone call. I heard you were going through some pretty bad morning sickness but that things were better now. I am praying that from here on out you have a safe and healthy pregnancy. Really try to enjoy it. Let me know how you are doing and what you need or need for the baby. However, I am not available to go pick up ice cream and a pickle at 2am, that is W.R.'s job. I have already done that.
Take care and I will try to keep you posted.
Love,
Jay
-----Original Message-----
From: Mack, Geralyn [mailto:[email protected]]
Sent: Tuesday, November 13, 2001 9:51 AM
To: Reitmeyer, Jay
Subject: re: Quick note
Jay,
Just a quick note to let you know that Mom and Dad arrived around 10am on
Sunday morning. I took the day off yesterday and we did a few things around
the house and a little shopping. Uncle Bob arrived around 11:00am from
Phoenix and we went to lunch. He was back on the road for Houston around
1:00pm. There is a new subdivision going up down the street from us so we
walked down there yesterday afternoon and wandered through some of the
houses. Dad seemed to enjoy it -- walking off the sq footage, inspecting
the construction, etc.
WR and I have been really watching the situation with Enron and have our
fingers crossed that things will work out for you now that the deal with
Dynergy has been announced. Uncle Bob seemed to think that Paul is in a
pretty precarious situation with his job.
Take care and tell the girls 'Aunt Lyn says hi.'
Lyn | {
"pile_set_name": "Enron Emails"
} |
Attached is a memo I prepared for Rick Shapiro and Jim Steffes regarding FERC's investigation into potential refunds for Pacific Northwest spot sales. I'm circulating the memo in anticipation of questions during the conference call tomorrow. Gary Fergus and/or Dan Watkiss will likely have further observations.
-----Original Message-----
From: Elbertson, Janette
Sent: Wednesday, September 19, 2001 9:37 AM
To: Al Alexanderson; Alamo, Joseph; Belden, Tim; Bishop, S; Bradford, William S.; Buy, Rick; C Ecklund; D Watkiss; David Aamodt; Day, M; Delainey, David; Derrick Jr., James; Douglas Nichols; Fossum, Drew; Frank, Robert; Gary Fergus; Haedicke, Mark E.; Kean, Steven J.; Kitchen, Louise; Klauberg, John; Leff, Dan; Mellencamp, Lisa; Palmer, Mark A. (PR); Sanders, Richard B.; Shapiro, Richard; Sharp, Vicki; Smith, Mike; Steffes, James D.; Tompkins, Robin; Tribolet, Michael; Whalley, Greg; Williams, Robert C.
Cc: Chapman, Kay; Davidson, Debra; Dernehl, Ginger; Dodgen, Kathy; Gil, Mercy; Harris, Stephanie J; Heathman, Karen K.; Hillis, Kimberly; Schoppe, Tammie; Simmons, Linda J.; Sweet, Twanda; Taylor, Liz M.; Underwood, Jody; Zavala, Cristina
Subject: Weekly California Litigation Team
There will be a California Litigation Team conference call on Thursday, September 20, from 2:00 to 3:00 p.m. Central time. The call in information is:
Domestic Dial In Number: 1-800-713-8600
International Dial In Number: 1-801-983-4017
Passcode: 56871
Host: Mark Haedicke
Janette Elbertson
Enron Wholesale Services Legal Department
Telephone: (713) 853-7906
Fax: (713) 646-2600
e-mail: [email protected] | {
"pile_set_name": "Enron Emails"
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Hi Tracy,
earlier this week you mentioned you might email out earnings targets
this week. I have not yet received them from you. I will be on
vacation all next week, so if the targets are set or you have any
information to forward us, please copy Dee and he will reply to you or
route the information as needed.
Have a nice weekend, jb
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN">
<HTML><HEAD>
<META http-equiv=Content-Type content="text/html; charset=iso-8859-1">
<META content="MSHTML 5.50.4522.1800" name=GENERATOR></HEAD>
<BODY style="MARGIN-TOP: 2px; FONT: 8pt MS Sans Serif; MARGIN-LEFT: 2px">
<DIV><FONT size=1>Hi Tracy,</FONT></DIV>
<DIV><FONT size=1>earlier this week you mentioned you might email out earnings
targets this week. I have not yet received them from you. I will be
on vacation all next week, so if the targets are set or you have any information
to forward us, please copy Dee and he will reply to you or route the information
as needed.</FONT></DIV>
<DIV><FONT size=1></FONT> </DIV>
<DIV><FONT size=1>Have a nice weekend, jb</FONT></DIV></BODY></HTML> | {
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} |
Mcnabb, Toomer, and Autry for Warner.
This at least gives you a chance for the rest of the year | {
"pile_set_name": "Enron Emails"
} |
Schedule reflects amount due for cancellation on or before the stated dates?
From: Reagan Rorschach/ENRON@enronXgate on 05/24/2001 01:19 PM
To: Kay Mann/Corp/Enron@Enron
cc: Kayne Coulter/ENRON@enronXgate, Tom May/ENRON@enronXgate, Jeffrey
Miller/ENRON@enronXgate, David Fairley/ENRON@enronXgate
Subject: RE: Open items for MDEA
Kay, see attached. The monthly fee should be $13,003. I took the $300k we
have all been discussing and backed out the $12,500 they paid under the ILA
terms.
Reagan C. Rorschach
Enron North America
1400 Smith Street
Houston, Texas 77002
713.345.3363
-----Original Message-----
From: Mann, Kay
Sent: Thursday, May 24, 2001 11:35 AM
To: Mann, Kay
Cc: Rorschach, Reagan; Kroll, Heather; Fairley, David; May, Tom
Subject: Re: Open items for MDEA
More:
We need internal agreement on the cancellation fee schedule, to be included
as an exhibit.
What is the status of the Yazoo City master gas agreement? Do we still want
a master gas agreement for Clarksdale, also? Do we want it now?
Thanks,
Kay
Kay Mann
05/23/2001 05:05 PM
To: Reagan Rorschach/Enron@EnronXGate, Heather Kroll/Enron@EnronXGate, David
Fairley/Enron@EnronXGate, Tom May/Enron@EnronXGate
cc:
Subject: Open items for MDEA
Here are issues which I'm unclear about, all of which impact the drafting of
the agreement:
How are we setting the heat rate? Do we have the GADS (?)? Is it a daily
average, weekly average? Flat rate? Adjusted? If so, how often?
Are we comfortable that there are no permit restrictions?
We have determined that we won't deal with fuel oil, right?
We aren't making money on gas, right?
Do we have a defn of costs that we like yet, and if so, how does it fit in to
the picture?
Is there an up-to-date set of exhibits?
It would help if theh commercial part of the team could send me the
following, in words and/or formulae:
The defn and method of establishing the bogey (target production cost)
formula can be an exhibit, which would be great for the commercial team to
work on. Are we determined how we should deal with imbalances (part of cost
of power)? How are we setting the bogey? Formula? Subject to audit? Two
bogeys or one (gas and oil)?
What is defn of profit? I think I have the general idea, but a sentence or
two would be helpful as a reality check. What costs are included on the buy
and sell side?
Re stack model: a sentence or two describing what it is and how it is used.
Updated exhibit on facilities, contracted resources, operating limits.
What information does MDEA need for us to provide in order to split
costs/profits? Are we clear that Cities buy gas, MDEA buys/sells power?
It would be great if I could get one set of answers to these
questions/issues, which has commercial buy in all around.
Thanks,
Kay | {
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Paula:
He should access ECI on our equipment, and the work that he is doing for ENA
should be provided by them.
Lyn:
Can he bring his current pc with him, or can you provide him with another
system?
Thanks
Richard Weeks
ENRON COMMUNICATIONS INC.
PURCHASING MANAGER
713-853-6995
Paula Corey
01/10/00 08:44 AM
To: Richard Weeks/Enron Communications@Enron Communications, Culley
Harrelson/Enron@Gateway
cc: Vince J Kaminski/HOU/ECT@ECT, Richard Weeks/Enron Communications@Enron
Communications
Subject: Stinson Gibner
Gentlemen:
Stinson Gibner will be joining us at desk location 4415c. I have spoken with
IT re: a new laptop for him on the ECI lan. He will also need access to his
ECT (ENA) system. How should we proceed with duplicating his workstation from
19?
Thank you
Paula | {
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} |
Looks good. Some of his questions suggest he's going to include a fair
amount of industry reaction -- which could be a mixed bag, some are clearly
threatened by efficiencies in bw markets. Looks like it will be a really
good story. He definitely appears to be excited by it. | {
"pile_set_name": "Enron Emails"
} |
Everyone,
A few months ago Enron was contacted by the firm Barnes Mosher Whitehurst
Lauter & Partners. Enron was asked to join a new coalition called the
California Energy Alliance. The purpose of CEA is to identify opinion
leaders, union members and registered voters who can be mobilized in support
of streamlining California's process for building power plants.
Both Paul and I have had conversations with the partners at BMWL. Today, I
left a message for one of the partners that Enron will not be participating
in the coalition and wished them well in their efforts. I wanted you all to
be aware of the telephone call and understand that Enron would not be
involved in the coalition's efforts. | {
"pile_set_name": "Enron Emails"
} |
I have heard rumors that the spot prices web page has not been working correctly. Do you know about this? and if so, what was the problem?
Michael S. Tully
Trade Floor Support, Portland
(503)464-7790 Work
(503)807-7862 Cell
[email protected]
Meddle not in the affairs of dragons,
For you are crunchy and good with mustard! | {
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} |
can i just charge the spa to your account? so now that i am your boy toy what do you want me to do?
-----Original Message-----
From: Erin Richardson <[email protected]>@ENRON
Sent: Wednesday, November 07, 2001 12:21 PM
To: Lenhart, Matthew
Subject: RE:
alright, just called and you're all set up at the houstonian so you can go
out there whenever you want to. just let me know if there's anything else
i can get for you.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, November 07, 2001 11:57 AM
To: [email protected]
Subject: RE:
yeah. just go ahead and do that. how about the houstonian? youre the
best.
-----Original Message-----
From: Erin Richardson <[email protected]>@ENRON
Sent: Wednesday, November 07, 2001 11:43 AM
To: Lenhart, Matthew
Subject: RE:
no problem. instead of a golf allowance though, i think i'll just get
you a
membership somewhere. wouldn't that be better? just let me know so i
can
arrange it.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, November 07, 2001 11:25 AM
To: [email protected]
Subject: RE:
sweet. i need a golf allowance then. i can drink beer every night and
golf all day while you work. that would be so sweet of you. i cant
wait
to do that.
-----Original Message-----
From: Erin Richardson <[email protected]>@ENRON
Sent: Wednesday, November 07, 2001 11:05 AM
To: Lenhart, Matthew
Subject: RE:
you don't need to work at denny's. you know, i make a lot of money,
more
than i can spend, so there's really no reason why you can't just live
off of
my salary for a while. shouldn't be a problem, i usually just give
half
of
it away to charity anyway.
-----Original Message-----
From: Lenhart, Matthew [mailto:[email protected]]
Sent: Wednesday, November 07, 2001 10:55 AM
To: [email protected]
Subject:
looks like i am going to work at denny's. stock is down about another
2.50.
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant
affiliate
and
may contain confidential and privileged material for the sole use of
the
intended recipient (s). Any review, use, distribution or disclosure
by
others is strictly prohibited. If you are not the intended recipient
(or
authorized to receive for the recipient), please contact the sender
or
reply
to Enron Corp. at [email protected] and delete
all
copies of the message. This e-mail (and any attachments hereto) are
not
intended to be an offer (or an acceptance) and do not create or
evidence
a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may
not
be
relied on by anyone as the basis of a contract by estoppel or
otherwise.
Thank you.
********************************************************************** | {
"pile_set_name": "Enron Emails"
} |
Thanks Mike.? We shall make the additions you noted below.? SoCalGas (Eric
Nelson) will be providing testimony on retail unbundling for the utilities. I
agree with you that the mass- market retail parties should also include
complementary testimony.? Although we discussed this earlier, I did not
receive any firm commitments from the retail folks that they would sponsor
such testimony - it may be an oversight on my part.? Nonetheless, retail
testimony by those in the market should include a discussion of the benefits
from Greenmountain.com, Utility.com, CUB, REMAC and the others.? Might I
suggest that Enron, as a large mass-marketer itself, coordinate this effort
with the other retail partners ?
In addition, I want all settlement parties to look beyond testimony to the
hearings, which are scheduled to begin in little more than a month.? We will
need to make some time available during late May for practice panels
(assuming we are granted panel hearings) and individual practice
cross-examination.? At the same time, we also need to start thinking about
direct cross-examination of the SCGC/TURN parties (again, assuming we decide
to engage in full cross-examination of their settlement).? There is merit to
cross-examination of the opposing settlement since it is not very well
thought out, results in substantial cost-shifts, and is not consistent with
the Commission's most promising options.? On the other hand, there is merit
to limiting our cross, especially of Florio, who will use the witness box to
grandstand.? It's something to think about.
-----Original Message-----
From: MBD [mailto:[email protected]]
Sent: Tuesday, April 18, 2000 11:56 AM
To: 'Cherry, Brian - TPBKC'; 'Leslie, John'; 'Elsesser, Evie'; 'McCrea,
Keith'; 'Pocta, R. Mark'; 'Dasovich, Jeff'; 'Beach, Tom'; 'Burkholder,
John'; 'Amirault, Paul'; 'Alexander, Michael'; 'Chancellor, Craig';
'Dingwall, B.'; 'Douglass, Dan@SES'; 'Fawcett, Jeff'; 'Porter, Doug';
'Rochman, Michael'; 'Counihan, Rick'; 'Bayless, David'; MBD; 'Paul,
Joe'; 'Jimison, John'; 'Foss, Robert'; McVay, Nancy W - TPNWM; 'Ramirez,
Jaime'; 'Black, Larry'; 'Gileau, Pat'; 'Johnson, Pamela'; 'How-Downing,
Lindsey'
Cc: Lorenz, Lad - TPLPL; Nelson, Eric B. - TPEBN; Morrow, Rick - TP3RMM;
Sullivan, Glen J.; Follett, B. David - TPDBF; Freeman, Kimberly;
Hubbard, Lisa J.; Angeles, Zenee G. - TPZGA; Schavrien, Lee; Reed,
William; Brill, Thomas R.; Van Lierop, Jan - TP2JXV; Smith, Anne S. -
TPASS; Harrigan, James P. - TP1JPH; Surak, Thomas M. - TP1TMS; Fair,
Pam; Sakarias, Wayne P.; Purves, Ralph A.; Fong, Ed; Angeles, Zenee G. -
TPZGA; Van Lierop, Jan - TP2JXV; Wright, Gillian - TP1GXW; Watson,
Steven - TP2SAW; Betonte, Robert - TP2RSB; Barker, David - TPDTB;
Peterson, Lorraine - TP1LMP; 'Martin Collette1'; 'Leitzinger, Jeff'
Subject: RE: May 5 Testimony Preparation GIR/NGS
Brian:
?
Thanks for your memo.? Let me add the following comments.? There should be a
chapter on the retail settlement with the key parties listed.? Tom Beach and
Vernon should be added to the chapter on impact on electric generators.? The
Core Interstate Unbundling section where you list TXU and Shell was, I
believe, originally supposed to include program benefits for the core
aggregators as well, and you should add Enron to the list for that Chapter.
Let me know if you concur with my recollection.? Thanks, Mike Day
-----Original Message-----
From: Cherry, Brian - TPBKC [mailto:[email protected]]
Sent: Tuesday, April 18, 2000 11:17 AM
To: Cherry, Brian - TPBKC; 'Leslie, John'; 'Elsesser, Evie'; 'McCrea,
Keith'; 'Pocta, R. Mark'; 'Dasovich, Jeff'; 'Beach, Tom'; 'Burkholder,
John'; 'Amirault, Paul'; 'Alexander, Michael'; 'Chancellor, Craig';
'Dingwall, B.'; 'Douglass, Dan@SES'; 'Fawcett, Jeff'; 'Porter, Doug';
'Rochman, Michael'; 'Counihan, Rick'; 'Bayless, David'; 'Day, Mike'; 'Paul,
Joe'; 'Jimison, John'; 'Foss, Robert'; McVay, Nancy W - TPNWM; 'Ramirez,
Jaime'; 'Black, Larry'; 'Gileau, Pat'; 'Johnson, Pamela'; 'How-Downing,
Lindsey'
Cc: Lorenz, Lad - TPLPL; Nelson, Eric B. - TPEBN; Morrow, Rick - TP3RMM;
Sullivan, Glen J.; Follett, B. David - TPDBF; Freeman, Kimberly; Hubbard,
Lisa J.; Angeles, Zenee G. - TPZGA; Schavrien, Lee; Reed, William; Brill,
Thomas R.; Van Lierop, Jan - TP2JXV; Smith, Anne S. - TPASS; Harrigan, James
P. - TP1JPH; Surak, Thomas M. - TP1TMS; Fair, Pam; Sakarias, Wayne P.;
Purves, Ralph A.; Fong, Ed; Angeles, Zenee G. - TPZGA; Van Lierop, Jan -
TP2JXV; Wright, Gillian - TP1GXW; Watson, Steven - TP2SAW; Betonte, Robert -
TP2RSB; Barker, David - TPDTB; Peterson, Lorraine - TP1LMP; 'Martin
Collette1'; 'Leitzinger, Jeff'
Subject: May 5 Testimony Preparation GIR/NGS
As you know, ALJ Biren has established May 5 as the date that testimony is
due in support of all settlements filed on April 3 and April 17.? While she
may offer additional guidance at the PHC on April 24, we need to start the
process of formalizing the testimony supporting the Comprehensive Settlement
Agreement.?
?
We have already identified the content and parties responsible for drafting
the testimony (as identified below).? The testimony will be based on a "hub
and spoke" approach, where SoCalGas will focus on the mechanics of
unbundling, describing in detail how the capacity and retail unbundling
process will work, with other parties filing testimony that complements
SoCalGas' testimony while offering the parties individual perspective on why
the settlement is in the public interest and benefits customers, the state
of California, mom and apple pie - you get the picture.? In addition, I
would like to suggest the following deadlines for getting testimony prepared
and circulated so that all of the signatories to the settlement agreement
have an opportunity to review and comment appropriately on the drafts.? I
suggest we adhere to the following schedule:
?
April 25? Draft Outlines of Testimony? (Optional)
April 28? 1st Draft Testimony
May 2??? 2nd Draft Testimony
May 5??? File Testimony w/Commission??????
?
I think that it is essential that we circulate the draft testimony twice so
that everyone knows what will be filed on the May 5.? The schedule is
compressed, but we have to operate within the time parameters we've been
given.?? The testimony assignments are identified below.? There has been one
change from what we had agreed to previously.? SoCalGas will sponsor a
witness on the "Concepts of Unbundling".? I would also like to suggest that
we file the testimony a one comprehensive document.?? I have suggested a
chapter-style format that might work, but I am open to suggestion.? Let me
know what you think.
?
?
Chapter 1??? SoCalGas??????????????????????? Concepts of Unbundling
Chapter 2??? SoCalGas??????????????????????? Mechanics of Unbundling -
Capacity???????????????????????
Chapter 3??? SoCalGas??????????????????????? Mechanics of Unbundling -
Retail
Chapter 4??? ORA??????????????????????????????? Unbundling Policy and Core
Impacts
Chapter 5??? WGS/WHP/Enron??????????? Transmission, Storage and Balancing
Chapter 6??? Edison/Calpine/Dynegy???? Pricing and Benefits to Electric
Generators??
Chapter 7??? TXU/Shell???????????????????????? Core Interstate Capacity
Unbundling????????????????????????????????
Chapter 8??? Transwestern??????????????????? Primary and Secondary Receipt
Point Access
Chapter 9??? Indicated Producers????????? Open Season and Impacts on
California Production
Chapter 10? Calpine??????????????????????????? Metering Program
?
?
?
? | {
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} |
Attached is a draft of an agreement between Enron Corp. and the Enron entity
that is the managing member of enovate under which Enron Corp.'s treasury
department would agree to provide certain funds management services on behalf
of the managing member. Gregg, as we discussed with the People's attorney,
this agreement would establish the link between enovate's managing member and
Enron Corp. with respect to these services, since the managing member has the
authority to take these actions, but Enron Corp. would be the entity actually
doing the work. We should resist any attempt to make enovate or any other
party a party to this Agreement, since we want only the Enron entity that is
the managing member to have a cause of action against Enron Corp. for any
breach of this agreement, etc.
Kay, I am out of the office, and I didn't bring the enovate LLC agreement
with me. Could you fill in the blanks for me in this document with the
correct names, jurisdictions of organization, etc.?
Gregg, if you could take a look at the description of services to make sure
that it captures everything that the treasury group does for enovate, that
would be great.
Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3893
Houston Texas 77002
Phone: (713) 853-1575
Fax: (713) 646-3490 | {
"pile_set_name": "Enron Emails"
} |
Daren,
I am trying to get some payments out to Williams for old months 11/2000 and 1/2001 but global counterparty said this deal should have Black Marlin Pipeline Company Inc. instead of Black Marlin Pipeline Company effective 3/99. The Black Marlin Pipeline Company was for an internal record (when it was an Enron entity). | {
"pile_set_name": "Enron Emails"
} |
There is a meeting of Committee of Participant Creditors' scheduled for
Friday, June 8, 2001 at 10:00 a.m. (PDT). The dial in number is (800)
403-2010 and the Participant Code is 127545. Attached is the Agenda for this
meeting. Please disregard the (blank) previous attempt of 1:05 p.m. to email
this information to you.
**************************
* Confidentiality Notice *
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This message is intended solely for the use of the addressee(s) and is
intended to be privileged and confidential within the attorney client
privilege. If you have received this message in error, please immediately
notify the sender and delete all copies of this email message along with all
attachments. Thank you.
- 1210257.pdf | {
"pile_set_name": "Enron Emails"
} |
Records indicate that there are a significant number of employees who have yet to have a drug test.
Here are the details of the locations in Houston, Portland and other locations.
Please attend one as soon as possible to avoid delays in your your onboarding and payroll processing.
HR | {
"pile_set_name": "Enron Emails"
} |
http://www.skytel.com/ | {
"pile_set_name": "Enron Emails"
} |
For those of you who were not able to view the graphics, here is the
non-graphics version.
Thanks | {
"pile_set_name": "Enron Emails"
} |
Dear West,
We talked briefly on Monday about our commitment to a full work day at Enron. If you are in the office, then please be prepared to contribute to the group for a full day. Our schedule now calls for critical communication in the afternoons. We need to know that each employee will be here every day to create the consistency needed to outperform the rest of the market.
We want to remain as flexible as possible with all traders when it comes to an emergency, but remember that you have a commitment to Enron to contribute a full work day.
Please organize your vacation on the west desk calendar with Ina and coordinate any early afternoon departures with Ina and myself. Also, prepare to have your markets covered when you leave the office early.
Sincerely,
Mike | {
"pile_set_name": "Enron Emails"
} |
Hi Mike,
Here's a draft of the facility agreement for your review.
Thanks,
Kay
PS I think I have a redline somewhere. I'll check. | {
"pile_set_name": "Enron Emails"
} |
Shannon,
I sent Joe Hunter an e-mail aking why this deal wasn't being settled (I
copied you on it). The only other deal I see in the system for City of
Huntsville is NF8497.1. It is a Flex Price deal for the same term as the
deal mentioned below. I'll call when Joe lets me know something.
Thanks,
Errol
From: Shannon McPearson/ENRON@enronXgate on 04/10/2001 02:19 PM
To: Errol McLaughlin/Corp/Enron@ENRON
cc:
Subject: FW: NT8261.2
Could you please respond to the message below. The value for this deal, as of
Feb 2001, is ($3,020,947). Financial settlements is not settling this deal,
however it was entered into TAGG as a financial deal. I don't know what to do
with this outstanding value!!
;
Thanks!
-----Original Message-----
From: McPearson, Shannon
Sent: Tuesday, March 27, 2001 2:16 PM
To: McLaughlin, Errol
Subject: NT8261.2
Can you tell me the history behind deal number NT8261.2, counterparty City of
Huntsville? This deal liquidated out of the PG Book in December, January and
February. It is a financial deal and in TAGG it says that the deal is to
unwind a storage deal?; Can you tell me what deal number this deal is
unwinding and if it should;be going to the 364 physical side for OA purposes?
;
Thanks!
;
Shannon McPearson
Enron North America
713-853-5944
[email protected] | {
"pile_set_name": "Enron Emails"
} |
I have a doctor's appointment tomorrow at 11:00 am. | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Cooper, Tammy [mailto:[email protected]]
Sent: Tuesday, February 20, 2001 4:25 PM
To: '[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'; '[email protected]';
'[email protected]'
Subject: 23220 DPL
Attached is a copy of the DPL containing staff's recommendations filed
today.
<<23220, OM 020222 Memo.doc>> <<23220, DPL 010219.doc>>
- 23220, OM 020222 Memo.doc
- 23220, DPL 010219.doc | {
"pile_set_name": "Enron Emails"
} |
you bot 200 NGZ1 from John @3.175.
cheers. | {
"pile_set_name": "Enron Emails"
} |
It looks good to me. How do we keep up with changes in a counterparty's
business? What if it no longer physically handles a particular commodity?
Mark
Robert Bruce@ENRON
Sent by: Robert Bruce@ENRON
10/17/2000 06:21 PM
To: Mark E Haedicke/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT
Subject:
per my voice message to you; have tried to make memo brief
Robert E. Bruce
Senior Counsel
Enron North America Corp.
T (713) 345-7780
F (713) 646-3393
[email protected] | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 09/03/99
10:03 AM ---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 09/02/99 09:25 PM
To: Linda R Guinn/HOU/ECT@ECT, [email protected], Richard B
Sanders/HOU/ECT@ECT, [email protected]
cc: [email protected], [email protected], [email protected],
[email protected], [email protected]
Subject: Wollschlager Update -Reply
Geez Andy, leave us something to try! Great job. Thanks.
>>> "[email protected]" 09/02/99 02:37pm >>>
THIS IS A CONFIDENTIAL E-MAIL COMMUNICATION FROM BRACEWELL &
PATTERSON, L.L.P. IF YOU RECEIVE THIS E-MAIL BY MISTAKE, PLEASE
DELETE IT BEFORE READING, AND CALL ANDY TAYLOR AT
(512)472-7800. THANK YOU.
Wollschlager Team:
I took depositions Monday and Tuesday of Wollschlager's expert, David
Cotner, and the two pumpers, Royce and Devon Creager (Father / son
team). Cotner did nothing but plug numbers into spreadsheets for
Wollschlager, and did not apply any of his engineering or gas contract
expertise to his analysis. He did not analyze the contract, amendments
or the dealings between the parties (such as price amendments,
Panhandle program releases, etc.), for purposes of his damage
calculations. He did not evaluate the true delivery capacity of the well,
but relied totally on Wollschlager's assessment. He admitted that he would
not be comfortable submitting the calculations
he performed to a court of law as a valid damages claim, because he
has not reviewed the contract to see what the pricing, take-or-pay,
credits, force-majeure, etc. provisions are, and he agreed that those
types of issues must be included to present a valid contract damages
claim. We are drafting a motion to exclude his testimony and
calculations.
Royce Creager (mid-late 60's) was the pumper who pumped the well in
1983 when the "event" occurred. He remembered driving up to the well
the morning after the equipment failure (we're not calling it a blowout - it
was a failure of the operator's equipment). He noticed something
strange, and then realized that the "stack-pack" (heater and separation
equipment) was not there. He first thought someone must have stolen it,
and then he saw the broken flowline, pointing up in the air, and
of the
"stack pack" about 200 ft. away in one direction, and the other half of the
equipment about 200 ft. away in the other direction! He does not
remember any gas flowing out of the flowline, and he's sure he would
remember it if the gas had been flowing to the atmosphere. (Logical
conclusion: when the equipment failed and blew up, the emergency
shut-down valve on the wellhead did what it was supposed to, and shut
the well in, to prevent any damage to the wellbore or waste of gas, by
shutting off the flow of gas.)
He has absolutely no recollection of the well being shut in prior to the
failure, and no recollection of Intratex's rate requests in general. He
agreed that it is the operator's (his) responsibility to carefully monitor the
flow of gas from a well being brought back on-line after it has been
shut-in, to make sure no damage occurs.
His son, Devon Creager, has been pumping the well since early 1985,
and generally has no knowledge or memory of any facts relevant to the
case. However, he does not know of anything unusual about the well's
production since that time, except that it has gradually declined in
production, which is what he would expect with any gas well.
Wollschlager's deposition is scheduled for September 14.
I am contacting Harper Estes today, to get possible dates for the elusive
mediation. Judge Gilles called me today (after talking to Morgan) to see if
we needed his help to get a mediation scheduled. I thanked him and told
him I thought we would be able to schedule a mutually agreeable date,
but told him we may call him next week if we needed him to "help" us.
Stay tuned . . . Andy Taylor | {
"pile_set_name": "Enron Emails"
} |
On Wednesday, June 14 at 10:00 a.m. Houston time, we will have a very special
eSpeaker. Who could it be? Here are some hints:
This eSpeaker...
...was drafted in the first round (14th overall) in 1983 by the Portland
Trailblazers.
...led the Houston Rockets to the NBA World Championship in 1995.
...is one of only three NBA players to top 20,000 career points, 6,000
rebounds and 6,000 assists.
...is a ten-time NBA All-Star.
...participated in post-season play every year he was in the league.
...was named one of the NBA,s Top 50 greatest players of all-time in 1996.
Have you figured it out yet? For the answer, go to eSpeak at
ethink.enron.com and take a look. You could even pre-submit a question for
our special guest! It might not be a bad idea, if you want improve the
chances of getting your question answered.... | {
"pile_set_name": "Enron Emails"
} |
FYI...
---------------------- Forwarded by Debbie R Brackett/HOU/ECT on 10/06/2000
01:18 PM ---------------------------
James New
10/04/2000 10:24 AM
To: Debbie R Brackett/HOU/ECT@ECT
cc: Hugo Moreira/LON/ECT@ECT, David Hardy/LON/ECT@ECT, Mike
Jordan/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Debbie,
For UK Power, this was not officialised because we had a curve shift for 25+
years which was made in error. For the DPR we put a 'top side' adjustment
through but because of the time it would take to re calc no re calc was
performed. This should have been covered in the daily conference call. Was it
?
For UK Gas, I thought this issue was closed on the conference call. We used
the 30th as our month end as a result of the way the month end fell. The guys
have now clicked the 'officialised' button for the 29th if it helps you, but
we did not use that data (there shouldn't be anything materially wrong with
it though).
What I think this highlights is that we will have days where we do not
officialise and do not re run. In these circumstances we will put a top side
through. We therefore need a mechanism to communicate this top side and I
would request we get this in place as soon as possible (this has been
requested a few times before).
Does this answer your questions ?
James
From: Debbie R Brackett
04/10/2000 14:25
To: James New/LON/ECT@ECT, Hugo Moreira/LON/ECT@ECT
cc: David Hardy/LON/ECT@ECT, Mike Jordan/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
James,
Just received a note fron Steve Price that UK power was never approved for
close of business 02-Oct. Can you or someone in your group respond to that as
well as to my query as to the lack of approval for UK Gas for close of
business on 29-Sep?( See below)
We are making a real effort here to understand why the Risk Controls groups
are not receiving data on a reliable basis and input from your group is
crucial.
Thanks for your help,
Debbie
---------------------- Forwarded by Debbie R Brackett/HOU/ECT on 10/04/2000
08:19 AM ---------------------------
From: Debbie R Brackett
10/02/2000 10:18 AM
To: James New/LON/ECT@ECT, Hugo Moreira/LON/ECT@ECT
cc: David Hardy/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Please clarify as much as possible.
---------------------- Forwarded by Debbie R Brackett/HOU/ECT on 10/02/2000
10:17 AM ---------------------------
Steve Price
10/02/2000 10:07 AM
To: Debbie R Brackett/HOU/ECT@ECT
cc: David Hardy/LON/ECT@ECT, Phil Yoxall/LON/ECT@ECT, Suzanne
Bain/LON/ECT@ECT, Jitendra Patel/Market Risk Management/LON/ECT@ECT, Oliver
Gaylard/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Debbie,
There is an MTM for the 29-Sep but is has not been approved. However, there
is also an MTM for 30-Sep which has been approved. I think the risk managers
would have the answer to why.
Steve
From: Debbie R Brackett
02/10/2000 14:30
To: Steve Price/LON/ECT@ECT
cc: David Hardy/LON/ECT@ECT, Phil Yoxall/LON/ECT@ECT, Suzanne
Bain/LON/ECT@ECT, Jitendra Patel/Market Risk Management/LON/ECT@ECT, Oliver
Gaylard/LON/ECT@ECT
Subject: Re: RAC Feeds 29-Sep
Why no MTM for the 29th, that being the last business day for the month?
Steve Price
10/02/2000 06:40 AM
To: David Hardy/LON/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Phil
Yoxall/LON/ECT@ECT
cc: Suzanne Bain/LON/ECT@ECT, Jitendra Patel/Market Risk
Management/LON/ECT@ECT, Oliver Gaylard/LON/ECT@ECT
Subject: RAC Feeds 29-Sep
All
Here are the feed timings for feeds for close of business 29-Sep
I will send another mail when they have all completed
Approved Send to RiskTRAC Issues
UK + Cont GAS 10:59 12:31 MTM approved is for 30-Sep. No 29-Sep MTM
approved
UK Power 10:24 Running now
Nordic Power Not yet approved
Steve | {
"pile_set_name": "Enron Emails"
} |
Deal for Use of Gas Pipeline Stirs Dispute on Competition
The New York Times, 03/26/01
Sale of Enron Unit To Sierra Pacific Becomes Unlikely
The Wall Street Journal, 03/26/01
Backing Bush Pays Off for Coal Industry Energy: Mineral is seen as key to
halting power crisis. Officials also target pending regulatory rules.
Los Angeles Times, 03/26/01
Abreast of the Market
Hunting for Signs That Stocks Are Bottoming
The Wall Street Journal, 03/26/01
It's About Time: A growing number of services let viewers pick what they want
to watch, when they want to watch it
The Wall Street Journal, 03/26/01
Overview --- Thumbs Up: What makes a good entertainment site click?
The Wall Street Journal, 03/26/01
What's News
United States
The Globe and Mail, 03/26/01
USA: Enron's deal to sell Portland General seen dead-WSJ.
Reuters English News Service, 03/26/01
Enron's 2 bln usd sale of PGE unit unlikely to go through - CEO
AFX News, 03/26/01
INDIA'S ESSAR MAY OPT OUT OF SHELL LNG VENTURE
Asia Pulse, 03/26/01
Business/Financial Desk; Section A
Deal for Use of Gas Pipeline Stirs Dispute on Competition
By RICHARD A. OPPEL Jr. and LOWELL BERGMAN
03/26/2001
The New York Times
Page 1, Column 4
c. 2001 New York Times Company
Early last year, the El Paso Natural Gas Company took bids from two dozen
companies for the right to ship enough natural gas through its pipeline from
Texas and New Mexico to meet one-sixth of the daily demand of energy-starved
California.
The winner: El Paso's sister company, the El Paso Merchant Energy Company,
which buys, sells and trades natural gas. The bidding was not close. El Paso
Merchant offered twice as much for the capacity as the other companies bid,
in total, for bits and pieces.
Why pay so much more? California officials, who are pressing a complaint
against El Paso at the Federal Energy Regulatory Commission, say the answer
is simple. The state contends that El Paso Merchant, with help from its
sister company, saw the transaction as a way to manipulate the price of
natural gas by using its control of pipeline capacity.
According to sealed documents obtained by The New York Times that are part of
filings in the federal case, executives at El Paso Merchant said internally
that the deal would give them ''more control'' of gas markets, including the
''ability to influence the physical market'' to benefit the company's
financial positions.
El Paso executives called the accusations fanciful, and in a formal response
to California's complaint, said the state ''grossly distorted'' company
documents by quoting words and phrases out of context.
The dispute opens a window on an important debate about oversight of the
natural gas industry, which fuels a growing share of the nation's electric
power plants.
At issue is whether current safeguards do enough to prevent anticompetitive
abuses in the marketing and trading of natural gas, and whether federal
regulators adequately enforce existing rules. In particular, many industry
officials question whether regulated pipeline companies are able to favor
unregulated sister companies that trade natural gas and are free to maximize
profits.
More than 200,000 miles of interstate pipelines crisscross the country,
moving natural gas from Canada, the Southwest and other producing regions to
fuel factories, power utilities and heat houses.
Not long ago, many parts of the country had excess pipeline capacity. But
experts say that several regions, including California, New York and New
England, now face constraints as demand soars for gas to fuel power plants.
In California, state officials and utility executives said the documents in
the federal case, and El Paso's actions, were proof that the state's energy
crisis stemmed not just from an ill-conceived deregulation plan but from
price manipulation and profiteering.
''They are the market maker with this pipeline,'' said Loretta Lynch, the
president of the California Public Utilities Commission, which has struggled
to cope with skyrocketing power prices and supply shortages.
El Paso ''sets the price in California,'' Ms. Lynch said, and what it did was
intentional. ''It has affected the price,'' she said, ''for everything
related to heat and electrical power prices in the state.''
California's complaint to the federal agency contends that El Paso Merchant
''has hoarded capacity and refused to attractively price unused capacity'' on
the pipeline. The state also charges that El Paso Natural Gas, the pipeline's
owner, has had no incentive to spur competition, by offering discounts to
other users, because the two companies are corporate siblings. The state said
that El Paso had violated federal natural gas statutes that prohibit
anticompetitive behavior.
The sealed filings in the El Paso case indicated that the company expected to
make money by widening the ''basis spread'' -- the difference between what
gas can be bought for in producing basins of Texas and New Mexico, at one end
of the pipeline, and its price on delivery to Southern California.
As it turned out, spreads widened enormously over the last year as the price
of gas soared in California, adding to costs for wholesale electricity that
pushed the biggest utilities near bankruptcy. California utilities paid $6.2
billion above competitive prices for wholesale electricity over the last 10
months, state officials estimated. The utilities are not allowed to recoup
the costs from customers. While the cost of 1,000 cubic feet of gas typically
is less than $1 higher at the California end of the pipeline, spot prices in
the state rose to almost $50 more than the Texas-New Mexico price in
December.
To executives of the parent company, the El Paso Corporation, the accusations
of market manipulation are ludicrous.
High gas prices in California, El Paso executives said in interviews, are
easily explained by soaring demand, the poor credit standing of the state's
utilities and the failure of the utilities to retain pipeline capacity or
store enough gas for winter.
''The idea that anybody is holding back on California is really ridiculous,''
said Clark C. Smith, president of El Paso Merchant's operations in North
America.
Some El Paso customers, though, agreed with California officials. The Pacific
Gas & Electric Company, the San Francisco-based utility, condemned El Paso in
a filing with the federal agency after its lawyers reviewed the sealed
company documents.
''It is now very clear from the business records of El Paso Energy
Corporation,'' the utility said in the filing, ''that the business strategy
El Paso Merchant was authorized at the highest corporate levels to pursue
involved manipulation of price spreads.''
The agency has not ruled on California's complaint, which asks that the deal
between El Paso Natural Gas and El Paso Merchant be invalidated. Based on the
agency's history of policing energy providers lightly, many industry
observers predicted that the complaint would be dismissed, perhaps as soon as
the agency's public meeting on Wednesday.
Nonetheless, El Paso Merchant is feeling some pressure. The subsidiary said
recently that it planned to relinquish control of all but about 22 percent of
the capacity on the pipeline to California, rather than exercise an option
that would have allowed it to retain the entire capacity of 1.2 billion cubic
feet of gas a day.
Critics said they believed El Paso made the move in hopes of lessening the
chance of government action. El Paso executives deny that but do say that
their decision was influenced by the backlash over the arrangement.
Surrendering the pipeline capacity made for a ''gut-wrenching'' decision, Mr.
Smith said, but was ''a first-class gesture'' to California. El Paso Merchant
paid $38.5 million to control the pipeline capacity from March 1, 2000, until
May 31, 2001. While Mr. Clark said he did not know the return on that
investment, he acknowledged that it was lucrative.
''No doubt about it,'' Mr. Clark said, ''we made good money.''
The question of whether El Paso's conduct has driven gas prices higher is
expected to be scrutinized by legislators in Sacramento this week. The
company also faces several lawsuits, including one by the city of Los
Angeles, that accuse it of conspiring with other companies to prevent
pipeline projects that could have eased California's energy crisis. El Paso
denied the accusation.
With pipeline capacity and gas supplies tighter, concerns about
anticompetitive behavior have increased as price volatility has created
soaring profits for energy marketers and traders.
Dynegy Inc., a Houston-based energy trader, was once the target of complaints
to federal regulators that it had artificially raised prices by abusing
capacity that it controlled on El Paso's pipeline to California.
In a filing with regulators in January, Dynegy contended that pipeline
companies routinely favored affiliates. ''Abuses abound because of financial
windfalls, difficulty of detection, lengthy investigations and increased
complexity of the market,'' the company said.
''There are some red flags right now,'' said William L. Massey, a member of
the Federal Energy Regulatory Commission since 1993. Mr. Massey said he was
troubled by the potential for abuses when pipeline companies own gas and
power marketing subsidiaries as well as electric plants fueled by natural
gas. El Paso is in all those businesses.
''What the commission ought to be serious about is: What are the forces at
work? Is it simply robust markets responding to true supply-and-demand
signals, or is it a market defined by market power and some measure of
affiliate abuse?'' he said.
Many in the industry do not believe changes are needed.
''There are rules in place today that protect against affiliate abuse,'' said
Stanley Horton, chief executive for gas pipeline operations at the Enron
Corporation and chairman of the Interstate Natural Gas Association of
America, the industry's trade group, referring to the rules under which
California has brought its complaint about El Paso.
To its critics, El Paso epitomizes the competitive concerns. It operates the
nation's largest network of interstate pipelines and owns one of the largest
reserves of natural gas. With its recent acquisition of the Coastal
Corporation, another large pipeline operator, El Paso has a market
capitalization of $32 billion.
At a conference at El Paso headquarters in Houston in February, analysts
heard executives predict net profits of $1.7 billion this year. El Paso's
much better known rival, Enron, with its headquarters a few blocks away, is
expected to earn about $1.4 billion.
El Paso Merchant provides the strongest growth. Two years ago, the unit's
profits, before interest payments and taxes, were $99 million; this year, it
is expected to have $700 million in North America alone. In its latest
quarterly report, El Paso attributed those profits, in part, to ''commodity
market and trading margins'' that were enhanced by ''power price volatility,
particularly in the Western United States.''
Critics contend that El Paso set out to exploit those conditions. According
to the sealed filings, on Feb. 14, 2000, the day before El Paso Merchant was
awarded the pipeline capacity, executives made a presentation to William A.
Wise, chief executive of the parent company, laying out the rationale for the
bid.
The presentation outlined what it termed ''strategic advantages,'' including
''more control of total physical markets'' and the ''ability to influence the
physical market to the benefit of any financial/hedge position,'' according
to the sealed filings. The passages suggested that El Paso expected the deal
to give it sway over the market for trading actual volumes of gas and to
support financial transactions it had entered into with other parties to
limit its risk.
For every one-cent increase in the spread on gas prices, the presentation
said, El Paso Merchant stood to make an additional $2.4 million.
Under the heading ''Challenges,'' according to the sealed filings, the
presentation stated that storage was needed ''to help manipulate physical
spreads, adding to the overall transport/storage cost.''
On April 14, according to the sealed filings, El Paso Merchant's president at
the time, Greg G. Jenkins, wrote a memorandum to Mr. Wise involving an update
for directors meeting later that month. The memorandum stated: ''We will make
money two ways: 1) increase the load factor, 2) widen the basis spread.''
The language appears to suggest that El Paso Merchant would profit by
increasing the gas flow in the pipeline -- the load factor -- while
increasing the difference between what gas could be bought for at one end and
what it could be sold for at the other end -- the basis spread.
In an interview, Mr. Smith, the El Paso Merchant executive, said that the
unit's prices, and profits, on bulk gas sales in California were locked in
months in advance, so that the company could not benefit from rising prices
in the spot market.
Otherwise, Mr. Smith declined to provide any details about money made on the
pipeline deal or about financial terms of the transactions that locked in
prices ahead of time. In addition, Mr. Smith said that nearly all of El Paso
Merchant's pipeline capacity was used every day when prices spiked late last
year, with no capacity withheld to increase prices.
The company did not respond last week to a request to discuss information in
the sealed documents. But El Paso Merchant, in a filing with federal
regulators, said California's complaint had ''misconstrued and incorrectly
interpreted'' what it termed ''snippets of data.''
About This Report
This article and others on California's energy problems are part of a joint
effort with the PBS series ''Frontline'' that will result in a documentary
later this year.
Photo: The El Paso Natural Gas pipeline passes near Topock, Ariz. A dispute
over bidding for its use has spurred a debate about oversight of the
industry. (John Gurzinski for The New York Times)(pg. A17) Chart: ''Boom
Times'' Operating revenue and net income soared last year at the El Paso
Corpor 2/3ation, which sells, transports and trades natural gas. Graphs of
the operating revenue and the net income for the El Paso Corporation.
(Source: Company reports)(pg. A17) Chart: ''A Spike in Prices'' The spot
price for natural gas produced in the Permian Basin of West Texas doubled
last year. But the price that power generators paid when the gas was
delivered to Southern California rose almost 10-fold. State regulators say
the gap is evidence of market manipulation. Graph showing the spot price of
gas delivered to Southern California and the spot price of gas bought in the
Permian Basin, from September to March. (Source: Gas Daily)(pg. A17)
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Marketing & Media
Sale of Enron Unit To Sierra Pacific Becomes Unlikely
By Rebecca Smith
Staff Reporter of The Wall Street Journal
03/26/2001
The Wall Street Journal
B10
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Enron Corp.'s $2 billion agreement to sell its Portland General Electric unit
to Sierra Pacific Resources may be the latest casualty of the energy crisis
spreading across the Western part of the U.S.
There is only a "5% probability" that the sale will go through, Enron's chief
executive, Jeffrey Skilling, said Friday. Sierra Pacific has been unable to
sell its interest in certain generating assets, which it needed to do to
complete the purchase from the Houston-based energy and trading company.
Sierra Pacific agreed in November 1999 to buy Portland General for $2 billion
and the assumption of $1 billion of debt.
Confirmation that the deal was in trouble didn't come as a surprise to
investors because the financial picture has changed considerably as the
West's power problems have become more acute. When the pact was announced,
the companies said they expected a transaction to take place by mid-2000.
Sierra Pacific has been hurt by rising energy costs, which resulted in a
financial setback last year. Sierra, Reno, Nev., which operates two Nevada
utilities, said it incurred an unanticipated expense of $889 million in 2000
to purchase fuel and electricity on the open market. That produced a full
year 2000 loss of $39.8 million, or 51 cents a share. On Friday, the company
couldn't be reached for comment about its plans.
Mr. Skilling said he's "not in a particular rush" to sell Portland General,
which Enron acquired in 1996, although he said he would like to put the money
to work in higher-profit businesses. There are "several billion dollars worth
of assets" that Enron will sell "in the next few years" in its quest to
maximize its returns, he said.
Mr. Skilling, in an effort to quell worries that spurred a recent selloff in
the firm's stock, said Enron is moving more heavily into the trading of
liquified natural gas and is considering exercising options to acquire three
LNG vessels as well as to develop LNG gasification facilities in the Bahamas
and Venezuela. He said Enron Online, the firm's Internet-based trading
platform, soon will begin trading LNG contracts, as well.
The recent stock-price decline stemmed from jitters about Enron's plans for
its broadband business. The company, which pioneered the trading of
telecommunications bandwidth, plans to cut capital spending on its
fiber-optics network to about $250 million this year from an earlier
estimated budget of $750 million, Mr. Skilling said. He said the company has
found it can acquire much of the telecommunications capacity it needs to
expand its businesses through contracts with other owners rather than by
building additional network capacity, itself.
Mr. Skilling said Enron is reassigning some employees within the company, but
he denied speculation that Enron is planning layoffs in the broadband unit.
He said Enron is constantly shifting people around to meet the company's
growth needs.
Mr. Skilling said he still expects Enron to earn $1.70 to $1.75 per share
this year and said it was "crazy" that the company's stock has slid from
about $80 per share in early February to about $55 late last week. In 4 p.m.
Friday New York Stock Exchange composite trading, Enron rose $4.38, or 8%, to
$59.40. He said Enron's "core businesses" all are in "great shape." Despite
the fact California's utilities aren't paying their bills, Enron's credit
exposure in that state is declining, he said.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
National Desk
Backing Bush Pays Off for Coal Industry Energy: Mineral is seen as key to
halting power crisis. Officials also target pending regulatory rules.
From the Washington Post
03/26/2001
Los Angeles Times
Home Edition
A-10
Copyright 2001 / The Times Mirror Company
WASHINGTON -- In the last election, few businesses placed as big a bet on
Republicans as the coal industry, which gave 88 cents out of every dollar in
campaign contributions to GOP candidates or organizations. Two months into
the Bush administration, that wager has begun to pay off.
President Bush has jettisoned a campaign promise to require coal-burning
power plants to reduce emissions of carbon dioxide, after heeding industry
warnings that such action could "kill coal." Now, industry officials who
worked for last week's Environmental Protection Agency decision to revoke a
Clinton administration crackdown on arsenic in drinking water are taking aim
at more than two dozen pending rules regulating substances from coal mine
dust and ozone to diesel particulates.
In the GOP-controlled Congress, lobbyists for coal companies, railroads and
electric utilities are mobilizing behind tax credits, subsidies and
regulatory exemptions for coal-burning utilities.
The emergence of coal from the political shadows is due in part to Bush's
conviction that the mineral, which is used to generate half the nation's
electricity, is crucial to preventing the spread of California's energy
crisis.
Coal's new strength also rests on the enhanced influence, in the aftermath of
last year's election, of a network of interests, such as electric utilities
and railroads, that strongly oppose lessening the country's dependence on
coal.
Meanwhile, coal, rail and power companies such as Peabody Holdings Inc.,
Burlington Northern Santa Fe and the Southern Co. provided funding last year
to start Americans for Balanced Energy Choices to develop grass-roots support
for coal.
"The market realities have changed, and the political dynamics have changed
in Washington," said the group's president, Steve Miller, a Democrat who was
Bill Clinton's campaign organizational chairman in Kentucky in 1992. "People
have no idea of the environmental improvement the coal industry has made."
To get that message across, Americans for Balanced Energy Choices has set up
a Web site and prepared a media advertising budget of several million dollars
to finance what Miller says will be "a longtime conversation with opinion
leaders across the country."
Electric utilities and their executives and employees last year gave $18.4
million to candidates and parties, of which $12.4 million went to
Republicans, according to the Center for Responsive Politics, a campaign
research group. Southern Co., one of the nation's largest coal-burning power
producers, opposes the Kyoto, Japan, protocol, under which signatory nations,
including the United States, agreed to reduce greenhouse gas emissions to
1990 levels. The Senate has never ratified the agreement.
In the House, Rep. Joe Barton (R-Texas), chairman of the subcommittee with
jurisdiction over clean air and energy, has vowed that legislation containing
such restrictions will "never" pass through his panel.
The chief executive of the Enron Corp. energy company, Kenneth Lay, one of
Bush's most generous campaign supporters, has urged the president to create a
trading system for carbon as a way of limiting emissions into the atmosphere.
But Lay was not given advance notice of Bush's decision ruling out mandatory
carbon controls, sources said.
A spokesman said Lay was "somewhat disappointed that we don't have a process
in place to deal with what he thinks is going to be a significant issue."
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Abreast of the Market
Hunting for Signs That Stocks Are Bottoming
By E.S. Browning
Staff Reporter of The Wall Street Journal
03/26/2001
The Wall Street Journal
C1
(Copyright (c) 2001, Dow Jones & Company, Inc.)
It sounds like the latest gimmicky TV show: "Looking for the Bottom."
But that search is what is most on the minds of investors and stock-market
analysts today, after the Dow Jones Industrial Average dived for most of last
week and then, finally, rebounded Friday. The beaten-up Nasdaq Composite
Index, meanwhile, was able actually to scrape out an "up" week.
Longtime market watchers say there are telltale signs to look for, signaling
a market bottom. The problem is that different market declines end in
different ways.
"Some market bottoms are quiet and some are violent," notes analyst Sam Burns
of market-research group Ned Davis Research, in Venice, Fla. "The signals
aren't always consistent." The trick, he says, is to figure out which set of
signals apply to the market at hand.
In 1987, for example, the downturn ended with a crash, a one-day collapse of
22.6% in the Dow industrials, after which the worst was over. It was what
analysts call an extreme case of "capitulation," or the massive selling of
stocks by investors who suddenly fell out of love with them.
But then there are the examples of 1974, 1982 and 1990. "Those bear markets
died with a whimper, not a bang," says Steve Leuthold, chairman of
money-management firm Leuthold Group in Minneapolis. The selling just
gradually dried up, and one day, stocks turned around and started up again.
Mr. Leuthold says you can make some sense out of the seeming contradictions
by dividing bear markets into two varieties: those that are caused by
economic downturns and those that occur at other times.
"You get V-shaped bottoms typically when it is a noneconomic bear market, a
bear market that isn't related to a recession, the kind of thing we saw in
1987 and 1998," he says, referring in the latter case to the Russia-spurred
declines that left the industrials just shy of a bear-market drop by strict
definition. "But if you have a recession related to it, which I think is what
we have in this case, it takes a while. There is a base building and you have
the bear market kind of die with a whimper."
But if the current decline is going to end gradually and recover more slowly,
how will investors know that the worst is over? Messrs. Leuthold and Burns
and other market analysts have put together a group of signs they look for in
markets such as this one. Those include the levels of the price-to-earnings
ratios of the major indexes, the number of months since the economic downturn
began, and the tendency of major indexes to fall back and "retest" their lows
after they hit bottom.
All of these measures suggest that stocks could be at the beginning of a
bottom-building process now, these experts say. But, because "no one rings a
bell at the bottom," as Mr. Leuthold puts it, there isn't any guarantee that
the market won't fall somewhat farther before it finally hits bottom. Even if
the bottom is occurring right now, it could be weeks, or months, or longer,
before stocks begin any strong, lasting rally.
There certainly was plenty in last week's market activity to make the
optimists hope they were seeing a bottom. In less than three days, from their
intraday high on Tuesday through their intraday low on Thursday, the Dow
industrials fell 9.1%, or 913.40 points, to 9106.54. That pullback left the
index, for a few hours, down 22.8% from its record close of 11722.98, hit on
Jan. 14 of last year.
If the index had closed at that level, the industrials would have been
considered, by the most common definition of a 20% drop from a closing high,
to be in a bear market. But suddenly, about 80 minutes before Thursday's
close, the nosedive ended. By the end of the day Friday, when the index rose
115.30, it was 18.9% off the record, still outside bear-market territory by a
statistical hair.
It still was a painful week, with the industrials finishing down 3.2%, or
318.63 points for the week, at 9504.78. The fact that the selling finally
broadened out to the blue chips is being cited by some analysts as one more
sign that the selloff could be nearing its end. The Nasdaq composite, which
had taken the brunt of the selling for months, was able to advance last week
-- up 2%, or 37.77 points, to 1928.68 (on Friday it gained 30.98).
How likely is it that last week marked the bottom? One way to gauge that, Mr.
Leuthold says, is that stocks tend to bottom out halfway through an economic
slowdown. He thinks the economy began its slump in December, adding that the
average recession since World War II has lasted 11 months. If this decline
lasts that long, stocks might start to recover in May or June. If the
downturn is shorter, the recovery can come sooner, and vice versa.
Another measure that Mr. Leuthold looks at is valuation. In times of serious
economic decline, following periods of sharp inflation and high interest
rates, major stock indexes have fallen to the point that they were trading at
seven or eight times their stocks' earnings for the past 12 months. But in
times of less severe economic turmoil, such as the present, the indexes have
tended to fall to around 15 times trailing earnings.
This time, the Standard & Poor's 500-stock index still trades at about 22
times trailing earnings, but a broader group of 3,000 stocks that Mr.
Leuthold tracks trades at a median of only about 14 times earnings. That
makes him believe that many stocks are close to a bottom now. (He thinks that
the S&P 500 may never actually fall to a P/E of 15, because of the way its
makeup has been revised over the past few years.)
Stock strategist Thomas McManus of Banc of America Securities, for his part,
likes to look at indicators of investor "sentiment," which track whether
people are feeling bullish or bearish. The Market Vane indicator, which
measures the advice given by professional investment advisers, currently
shows that only 19% are bullish on S&P 500 futures, an unusually low level of
bullishness. When investor sentiment is that negative, many analysts believe,
stocks can begin to recover, because most of the selling already has run its
course.
A number of formerly bearish investors have turned bullish in the past few
weeks, believing that a bottom is at hand. Mr. Leuthold is one -- he even is
beginning to think that some technology stocks, notably semiconductor stocks,
may have fallen far enough to be cheap.
Another recently minted optimist is Robert Morris, chief investment officer
at Jersey City, N.J., fund-management group Lord Abbett, who until last year
considered technology stocks in particular to be greatly overvalued. He
points out that, in the past, stocks have tended to move up 25% in the 12
months after a third successive Federal Reserve rate cut. On top of that, his
models separately show the S&P 500 and the Dow industrials so undervalued
that they could rise as much as 25% in the next 12 months.
"We may bounce around for a while, but now we have a reason to own stocks
again," Mr. Morris says. He adds that one last indicator is a sign that bank
stocks -- very sensitive now to worries about bad debt -- have begun to
recover. "Once the market buys that and confirms it with better relative
strength for the banks, we will be ready to go," he says.
Many analysts think that it could still be some time before a true rally
kicks in. The market could go through a protracted period of consolidating
and retesting its lows. "That means that you don't have to be in a hurry to
buy right at the bottom; you have some time," Mr. Burns says.
---
Friday's Market Activity
Stocks turned higher across the board as a rough week for blue chips ended on
a positive note.
The big gains came out of some of the banking and brokerage-firm issues that
sold off earlier in the week as the market's fortunes worsened. Shares of
J.P. Morgan Chase added $2.80 to $41.71, Citigroup rose 2.25 to 42.85, and
Bank of America moved ahead 3.11 to 52.78.
Goldman Sachs Group improved 3.90 to 89.81, Merrill Lynch tacked on 3.25 to
57.70, and Lehman Brothers Holdings gained 2.55 to 67.35.
Shares of Applied Materials advanced 81 cents to 50.25 in Nasdaq Stock Market
trading, after the semiconductor-gear maker affirmed the company's
second-quarter outlook for revenue and earnings. That helped dispel some of
the doubt about capital spending in technology products and equipment that
has been at the heart of the market's recent distress.
Motorola also made progress, adding 31 cents to 15.99, after the cellphone
and chip manufacturer announced plans to cut jobs to further reduce its
costs.
Shares of Tibco Software, which came into the session off the 52-week low of
7.22 reached Thursday, climbed 2.41 to 10.44 on Nasdaq, after the
enterprise-software producer posted fiscal first-quarter earnings that beat
analysts' lowered estimates.
The industrial average also got a big push from its software and
personal-computer makers. The groups started to rally Thursday on talk from
chip manufacturer Micron Technology that some of the inventory problems in
the supply chain had been alleviated. Microsoft advanced 2.56 to 56.56 in
Nasdaq trading, while International Business Machines climbed 4.58 to 93.68.
Micron, which rose 11% Thursday, tacked on 2.13 to 48.83 Friday.
Nokia gained 1.46 to 26.46. The Finnish handset maker said it will buy back
as many as 50 million shares of its stock.
Quest Diagnostics rose 3.88 to 82.92, while Laboratory Corp. of America
improved 7.18 to 119. Thomas Weisel Partners started coverage of several of
the companies that provide laboratory testing services, including these
names.
Gemstar International added 6.25 to 35.19 on Nasdaq. The Pasadena, Calif.,
provider of electronic-program guides and video-recording systems agreed to
provide interactive television services to Comcast Cable's Comcast Cable
Communications subscribers. Comcast, King of Prussia, Pa., eased 1.81 to
38.69 in Nasdaq trading.
Nucor lost 81 cents to 40.46. The Charlotte, N.C., metals and mining concern
reduced its first-quarter earnings expectations, citing a weak pricing
environment for steel products and what it called "relatively flat" sales
volume.
Immunex slid 7.38 to 11.50 on Nasdaq, slumping to a 52-week low. The Seattle
biopharmaceuticals developer stopped its late-stage clinical trials on
patients who suffer chronic heart failure. Were the tests to have been
successful, Immunex could have doubled the market for its blockbuster drug,
Enbrel, which is used to treat patients with rheumatoid arthritis. American
Home Products, which owns 41% of Immunex, declined 1.10 to 54.40.
Enron gained 4.38 to 59.40. The energy provider and commodities trader perked
up following losses this week after company officials, on a conference call
with investors, reiterated the Houston concern's existing earnings forecasts.
New York Stock Exchange volume totaled 1,360,250,410 shares, compared with
1,723,955,410 Thursday.
-- Robert O'Brien
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Entertainment + Technology (A Special Report)
It's About Time: A growing number of services let viewers pick what they want
to watch, when they want to watch it
By Martin Peers
03/26/2001
The Wall Street Journal
R14
(Copyright (c) 2001, Dow Jones & Company, Inc.)
When Christopher Lindsell wants to watch a movie nowadays, the 29-year-old
Cincinnati research scientist plops down on his couch with his wife and son
and checks out Intertainer.TV, a new entertainment service available via
computer.
With Intertainer, Mr. Lindsell can order a movie in advance, watch it when he
wants and even pause it while he gets more snacks -- all with a click of the
mouse.
"We really like the convenience," says Mr. Lindsell. "We like the ability to
click a few buttons, see a preview, see a brief description. We have children
in the household, so we like to see whether it contains adult content. We can
then sit down as a family. [We] don't have to plan ahead."
Mr. Lindsell is one of about 2,400 people in the Cincinnati area able to
order movies or television shows from Intertainer, which delivers programming
via souped-up telephone lines or digital cable through the computer to the TV
set. Viewers can order everything from editions of "Meet the Press" or "NBC
Nightly News" an hour after they're aired to recently released movies such as
"Gladiator" and older films, for prices ranging from 75 cents to $3.99. The
programs run like they're in a videocassette recorder: Viewers can stop,
start and rewind them as much as they want within 24 hours of the initial
order.
Intertainer is one of a number of emerging electronic-entertainment services
that allow consumers to order movies and TV shows and watch them at their
leisure. But Intertainer Inc.'s service has a head start in getting
programming. The Culver City, Calif., company has signed long-term supply
deals with several Hollywood studios, such as the Warner Brothers unit of AOL
Time Warner Inc. and Vivendi Universal SA's Universal Pictures, while its
rivals are still in negotiations on such deals. Intertainer also has deals
for TV programming from General Electric Co.'s NBC, as well as several cable
networks such as Discovery Channel and A&E Television Networks, which
includes the History Channel and the Biography Channel.
Intertainer is a closely held company whose investors include its founders,
Chairman Richard Baskin and Chief Executive Jonathan Taplin, as well as big
companies like Microsoft Corp., Intel Corp., Comcast Corp. and NBC.
Right now, Intertainer is available only to a small number of people in
Cincinnati, through Internet-access company Zoomtown.com, a unit of Broadwing
Inc., a telecommunications concern based in Cincinnati. But Intertainer
expects the service to be available in many more major markets over the next
few months.
The service is similar in some ways to the pay-per-view options offered on
cable or satellite-TV systems, giving consumers the ability to pick a movie
they want to watch for a fee. Pay-per-view, however, offers only a few movies
at fixed times, whereas Intertainer allows consumers to scroll through a list
of several hundred movies or TV shows and order one immediately.
Intertainer isn't offered over the Internet, like many of the other services
such as SightSound.com from SightSound Technologies of Mount Lebanon, Pa. The
company decided against making its service available on the Internet largely
to ensure its movies and TV shows had the best picture quality and because of
concerns from the major Hollywood studios over rampant illegal copying on the
Web.
Instead, the company sends its signals over private computer networks,
connecting to homes either by high-speed phone lines known as digital
subscriber lines or by digital cable. Consumers can buy a device that
switches the signal from their computer to their TV set. Intertainer has a
Web site that offers music videos and movie trailers to promote the main
service, and allows for some e-commerce opportunities, like selling albums.
Customers getting Intertainer through DSL, currently the most common way to
get the service, usually would log onto Intertainer through their computer,
clicking on an Intertainer icon on the DSL provider's home Web page that gets
them into a private computer network. After typing in a password, customers
first choose a movie genre (comedies, dramas, action) and then pick a film in
that genre. Consumers find the movie they want to watch, order with a click
of a mouse and get billed either through their credit card or their DSL
provider. (Cable operators would likely make Intertainer available as an
added feature of digital cable, available through a set-top box with remote
control.)
For encrypting and playing programming, Intertainer is using Microsoft's
Windows Media software. The software giant also will integrate the service in
its Microsoft TV software, which is being put in set-top boxes for
interactive-TV services of some cable and satellite-TV operators. That
integration makes it easier for these companies to offer Intertainer.
Supplementing revenue from movie and TV orders, Intertainer aims to generate
one-third of its revenue from advertising and e-commerce. The Web site allows
consumers to play a music video and then click onto a site selling the
related album. Intertainer also has interactive features built into some of
its advertising, enabling viewers to get information and make a purchase.
While consumers who have used Intertainer or other movies-on-demand services
are enthusiastic, there are still big hurdles to overcome before the services
are widely available.
Intertainer is facing plenty of competition, both on and off the Web. Cable
operators like AOL Time Warner and Cox Communications Inc. are planning to
offer their own service. Some of the Hollywood studios are planning to launch
their own Web-based services, while some independent Web concerns are
offering movies on demand, although with a very limited number of movies.
But Intertainer is ahead of most of its rivals when it comes to programming.
Most cable operators are still negotiating long-term deals. And the
independent Web-based services are finding it difficult to get movies from
major studios because of worries about illegal copying. Programming's
importance was highlighted earlier this month when another potential rival, a
joint venture of Blockbuster Inc. and Enron Corp., abandoned its efforts
because of Blockbuster's difficulty in negotiating movie-supply deals.
Meanwhile, Intertainer currently offers about 300 movies and 25 different
types of TV shows at any one time, though its programming deals give it
access to between 8,000 and 10,000 movies. However, making all the movies
available simultaneously would be prohibitively expensive. Intertainer
expects new computer-network designs and the declining cost of data storage
will enable it to increase the number of movies offered at the same time
within a couple of years.
Also putting a crimp on movies-on-demand services' offerings are major
Hollywood studios. Because of concerns of illegal copying, the studios have
been reluctant to provide movies and shows. Avoiding the Internet altogether
has helped Intertainer get more programming, but it has forced the company to
rely on phone companies or cable operators to offer its service. And most of
the programming available on Intertainer is at least several months old,
reflecting Hollywood's desire not to threaten the mountains of revenue they
get from video rental chains by giving Intertainer movies before they're
offered on video.
As a result, Intertainer -- like other movies-on-demand services -- doesn't
offer movies until after they've been in the video stores. That is likely to
reduce the number of orders for Intertainer, which gives an undisclosed share
of its program fee to its entertainment providers. Mr. Lindsell, for
instance, says his family also rents movies from video-rental stores but
would use Intertainer as his "primary source" once the service has "more
diverse product" available.
Agreements with cable networks licensing their shows to Intertainer come with
similar caveats. When A&E Television Networks agreed in January to provide
programming to Intertainer, David Zagin, senior vice president of affiliate
sales, says the deal was limited to older titles in the company's library --
which could be anywhere from a few months to a few years old. Offering newly
aired programs for Intertainer's on-demand service could reduce the need for
consumers to watch the networks on cable.
"We never want to give people the impression you don't have to have A&E and
History" on cable, Mr. Zagin says. A&E is owned by Walt Disney Co., Hearst
Corp. and NBC.
Discovery Networks has a similar stance. Discovery, a unit of Discovery
Communications Inc. of Bethesda, Md., supplies "library" products, shows
roughly six months old, from its networks, which include Discovery Channel,
the Learning Channel, Animal Planet and the Travel Channel. These shows
include Discovery Channel's "Ultimate Guide," a travel-adventure series
focusing on exotic destinations like the Amazon. David Karp, a senior vice
president of interactive television for Discovery Networks U.S., says the
on-demand offering is a "companion" business to the primary business of
running its cable networks.
"We are not going to do anything that will detract from our programming
networks," he says.
NBC's deal does give Intertainer the right to offer slightly delayed editions
of "NBC Nightly News" and "Meet the Press." But the agreement also gives
Intertainer programming from NBC's library, including episodes of "Saturday
Night Live," movies of the week, comedies and dramas. The shows could date as
far back as 20 years. Indeed, NBC doesn't want to threaten the value of newer
shows in the hugely profitable television syndication market, where
independent TV stations buy programming, says a person close to the network.
But even with the content constraints, Intertainer's Mr. Taplin believes the
company can build a commercial service from the programming it has. Mr.
Taplin says the company needs about half a million subscribers ordering at
least one movie every three months to break even. It now has about $30
million in the bank, enough to keep the service running until the end of
2002, though Mr. Taplin hopes to raise more money from existing and new
investors.
Reaching that half-a-million target will largely depend on Intertainer's
ability to get into homes as well as beat the competition. Lydia Loizides, an
analyst in the digital-TV group of New York-based Jupiter Research, says
Intertainer is "very solid on the content-partnership side" and had a better
than 50-50 chance of meeting its target. She notes, however, that cable
operators and telephone companies are planning to "go after the same dollars
that are in consumers' wallets, so who gets there first is something to be
determined."
So far, most cable operators are opting to offer their own version of movies
on demand, licensing the movies through an industry-owned consortium or
through other services. The only cable operator to be actively working with
Intertainer is Comcast, one of the nation's biggest cable operators. Comcast
is currently testing just the movies-on-demand part of Intertainer's service
as an additional feature on its digital-cable service. It's unclear whether
Comcast will offer Intertainer once it has completed the test, say people
familiar with the situation.
All that means is that Intertainer will likely have to rely mostly on
telephone companies' DSL services in order for the service to grow. In
Cincinnati, Zoomtown President Michael O'Brien says he plans to expand the
offering to all Zoomtown's 40,000 DSL customers in the first half of this
year. Qwest Communications International Inc. of Denver also is testing
Intertainer's service on its DSL lines and plans to introduce it in half a
dozen markets, including Seattle, Portland, Ore., Denver and Phoenix. Mr.
Taplin hopes Qwest will roll it out commercially by April, although a Qwest
spokeswoman wouldn't confirm the timing of the rollout.
Mr. Taplin also hopes Intertainer will be available in major markets like New
York "by the end of the summer" through telephone companies like Verizon
Communications Inc.'s DSL service. A Verizon spokesman says the company was
doing technical trials -- offering "many" video-on-demand services, including
Intertainer, free to some of its customers. The spokesman says Verizon "won't
speculate" on when these services would be commercially available.
A major rollout of Intertainer would help persuade studios and networks to
give up more timely content. Mr. Taplin says getting newer movies and TV
shows will require "a large market of people" ordering movies so those in
Hollywood can see they can make money from Intertainer and services like it.
"It's an evolutionary process," he says.
---
Mr. Peers is a staff reporter in The Wall Street Journal's New York bureau.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Entertainment + Technology (A Special Report)
Overview --- Thumbs Up: What makes a good entertainment site click?
By Bruce Orwall
03/26/2001
The Wall Street Journal
R6
(Copyright (c) 2001, Dow Jones & Company, Inc.)
You are forgiven for wondering whether the Web entertainment revolution has
ended before it even began.
A legion of online companies that once seemed to herald the dawn of a new era
in entertainment has instead crashed and burned during the past year, echoing
the cruel fate of Internet companies generally. It didn't matter whether the
venture was a scrappy start-up or one backed by marquee entertainment moguls
-- it seemed as if every attempt to convert the Web into the next big medium
for movies, television shows, music or original Internet creations was doomed
to failure.
But amid the devastation, pink slips and worthless stock options, a simple
truth may be getting lost: Some of this stuff actually works. And it's going
to get better.
There may not yet be business models that can support today's Web
entertainment experiments. But that's not stopping consumers from using their
computers to listen to music, watch movie previews, buy concert and movie
tickets and gather information about even the most obscure rock bands, films
and books.
And the offerings are only going to improve as broadband access increases --
and the entertainment industry digests the lessons from last year's shakeout.
Many companies are abandoning murky plans to create content specifically for
the Web and instead are focusing on what does seem to work online. For
instance, using the Internet to build fan hype for a movie. Or delivering the
fabled "movies on demand" via phone or cable lines. Or coming up with ways to
charge people for music downloads.
"For consumers who have broadband," says Rob Glaser, chairman and chief
executive of RealNetworks Inc., which makes online video software, "this will
be the first year that you can buy [online entertainment] that is comparable
to what you can get in the video store . . . . This will be a year when
people will say, `Hey, I get this.'"
In some sense, the potential of online entertainment has been obscured by
both the failure and the legal entanglements of the past year. The music
world stands as a striking example. A year ago, the now-notorious service
called Napster was just coming on the nation's radar, providing the first
glimpse of how a new concept called "file sharing" could allow computer users
all over the world to swap music files in the MP3 format. Of course, almost
none of those songs were being shared with any regard for the rights of the
copyright holders, causing an outcry from major record labels and some
artists that was more deafening than a Korn record. The labels prevailed in
an epic court battle that now threatens Napster's very existence.
Yet even as Napster struggles to get back on its feet, it has already proved
a big point: A lot of people are really interested in downloading music. They
can burn those MP3 files onto their own homemade customized CDs on which the
music can be arranged as they prefer. Though teenagers have used Napster's
file-sharing capability to fill up their hard drives with the latest hot
singles by Jennifer Lopez or Eminem, so far it's hard to say conclusively
that it has stopped them from buying those artists' CDs.
In any case, the labels realize that there's no turning back now, which is
why Bertelsmann AG's BMG unit entered into a partnership with Napster meant
to legitimize the service and bring it into the mainstream. Even the major
labels -- which have sneered at the notion of getting into business with
their nemesis -- are slogging through the tortuous technical and legal
problems that would allow them to launch their own digital downloading
services. When they're not busy suing Web upstarts like Napster or MP3.com,
media industry leaders like Vivendi Universal SA Chief Executive Jean-Marie
Messier publicly predict that, someday soon, we'll all be downloading Shania
Twain songs straight from the Web to our wireless mobile phones, which will
also store and play the music back.
Consumers seem ready for this kind of flexibility. They're experimenting with
other forms of online music, such as Web-based radio stations that offer a
much wider variety of music than most over-the-air commercial stations. Not
to be left out, traditional broadcasters are scrambling to put their stations
or radio networks on the Web, too -- often with appealing results, like the
extensive archive of news programs maintained by National Public Radio.
Web fan frenzies are by no means limited to the music world. Fans of popular
movie franchises like "Star Wars" have taken matters into their own hands,
creating detailed and frequently innovative shrines to their favorite icons.
As chronicled elsewhere in this issue, sites like TheForce.net have shown
that a loyal audience can be built around Web sites that feed fan obsessions.
This has not escaped the notice of the movie studios. After the addicting Web
site for "The Blair Witch Project" helped turn that film into a phenomenon
two years ago, the movie business struggled in its efforts to use the
Internet as a tool for creating excitement about a film. But lately,
Hollywood has been showing signs of getting its act together.
Now some studios have begun to do essentially what movie fans have been doing
for a while -- creating rich, immersive Web sites built around some
high-profile properties, aimed at stoking interest among existing fans while
also attracting newcomers. The best recent example of this is the Web site
for New Line Cinema's coming "Lord of the Rings" trilogy, which aims to keep
users coming by promising that new interviews, pictures or bits of
information will be introduced almost daily for the next three years.
The idea is to make the site addictive to potential movie audiences, in the
same way that "Rings" author J.R.R. Tolkien sucked teenagers into the fantasy
world of his novels. Hollywood is trying to create the same kind of
experience for unknown properties as well, sometimes starting months before a
film's release. "Tomcats," the first film from former Disney Studio chief Joe
Roth's new Revolution Studios, has had a robust Web presence for months, even
using its site to cast a couple of bit roles in the film and follow the
exploits of the wannabes who won them. The teen comedy's imminent release
means that the industry will soon get a good notion of whether it's worth the
trouble to spend so much time and effort planting a movie into teenagers'
consciousness before it opens.
The studios now habitually show their preview trailers online -- and because
the software that allows video to play on your computer is getting better,
the picture and sound are more compelling all the time. The limitations of
current technology are still frustrating, as the picture that people see when
they play a video clip on their computer is still not even big enough to fill
up half a computer screen. But, especially for those with broadband
connections, the clips now play more smoothly and with fewer interruptions.
Part of the reason the studios are exploring the Web's possibilities as a
promotional tool is that the medium has flopped as a venue for original
content. A big lesson of the past year has been that it's difficult for
original Web entertainment to exist without the additional financial
advantage of being distributed in other media as well, so that it can
generate other revenue for its creators.
"Of the things you saw with [failed online-entertainment firms] is that it's
difficult to find a business model where you create original content for the
Web," says Walt Disney Co. strategic planning chief Peter Murphy. "But using
the Web as an ancillary form of distribution can be very powerful . . . .
It's a wonderful form of direct delivery to the consumer."
Indeed, the shakeout in Web technology companies has already weeded out many
of the ambitious upstarts that wanted to air original animation or short
live-action films on the Web. And Hollywood was atwitter last summer when
Pop.com -- the high-profile venture formed jointly by DreamWorks SKG and
Imagine Entertainment -- failed to even launch its much-ballyhooed site.
Pop's backers went into the Web venture thinking that short-form
entertainment created by DreamWorks' Steven Spielberg, Imagine's Ron Howard
and others would draw a big audience and provide a forum for top Hollywood
talent to devise new characters, which could then be spun into TV shows or
movies. But after a year of frustrating attempts to devise a business model
that would support such a venture, the Pop gang threw in the towel, promising
to return when the medium matured.
But some sites that show original films, like Ifilm Corp.'s Ifilm.com, have
survived; and, in some cases, companies have decided to improve their chances
by merging, as when Atom Corp. and its AtomFilm.com site were sold to
Macromedia Inc.'s Shockwave.com to form the new company that, in theory, is
better suited to keeping up with future competition. The start-ups that have
stayed alive have frequently been smart enough to make sure they are not
dependent solely on revenue from the Web; Atom, for example, licenses its
short films to airlines and local TV stations, too.
Whether they make it over the long haul remains to be seen. In fact, there is
still a good chance that all of the efforts to date to make filmed
entertainment work on the Web amount to little more than road kill on the
path to the day when the major entertainment companies get their act together
and figure out how to deliver their valuable movie and TV properties via the
new medium.
Several ventures are being prepared quite aggressively by the big media
companies, aimed at readying the Internet as a platform for digitally
delivering films to people's homes, either via phone or cable lines or by
wireless means. One is headed by Sony Corp., which has already conducted some
consumer tests involving films downloaded from the Web. Another effort, led
by Walt Disney in partnership with News Corp.'s 20th Century Fox, aims to do
the same thing via Disney's Movies.com site. Disney is also weighing whether
to move ahead with another project, dubbed MovieBox, that would also deliver
movies on demand, but this time via a wireless technology that doesn't
require the user to have a broadband Internet connection. Disney hasn't yet
decided whether to proceed.
A Los Angeles company called Intertainer Inc. has plans to deliver music and
movies on the Web, too. But Viacom Inc.'s Blockbuster unit and Enron Corp.
recently dissolved a highly touted joint venture, though both companies say
they will pursue video-on-demand on their own.
Disney's Internet efforts in general demonstrate both the promise and the
frustration of getting a foothold in the new medium. The company's attempt to
compete in the portal business, called Go.com, was a fiasco from the moment
it made its debut in 1999. Already too far behind Yahoo! Inc. and others in
the portal race, Disney attempted to narrow Go's focus to entertainment,
recreation and leisure. That, too, was a bust, and Disney recently folded Go
altogether, marking the embarrassing conclusion of a saga that probably
should have never begun.
Yet Go.com's failure has masked progress within Disney's Web unit, like its
ESPN.com operation, which only stands to get better with the rise of
broadband and its enhanced ability to use video and audio clips. ESPN.com,
for example, will soon unveil a product called MySportsCenter, based on the
ESPN cable channel's popular news program "SportsCenter." MySportsCenter will
allow ESPN to deliver an online package of the day's sports highlights
tailored to each user's interests and favorite teams. If you tell ESPN.com
that your world revolves around pro hoops star Allen Iverson or baseball's
Alex Rodriguez, the site plans to give you a package of clips based on how
those stars and their teams did in the previous day's games.
---
Mr. Orwall, a staff reporter in The Wall Street Journal's Los Angeles bureau,
served as contributing editor of this report.
---
Journal Link: How has the Web changed the way you use and shop for
entertainment? Join a discussion in the online Journal at
WSJ.com/JournalLinks.
--- Digital Entertainment Network:
Online "network" with episodic shows
Pop.com:
Animated and live-action entertainment shorts
Icebox.com:
Web animation studio
Z.com:
Short films and animations
Go.com:
Disney's Web portal
Checkout.com:
Online music e-tailer
Stan Lee Media:
Digital entertainment studio
Scour.com:
Music file-sharing service
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Report on Business: The Wall Street Journal
What's News
United States
Wall Street Journal
03/26/2001
The Globe and Mail
Metro
B8
"All material Copyright (c) Bell Globemedia Publishing Inc. and its
licensors. All rights reserved."
Enron Corp.'s $2-billion (U.S.) agreement to sell its Portland General
Electric unit to Sierra Pacific Resources may be the latest casualty of
Western U.S. energy crisis. There is only a "5-per-cent probability" that the
sale will proceed, Enron's chief executive officer, Jeffrey Skilling, said.
Sierra Pacific has been unable to sell its interest in certain generating
assets, which it needed to do to complete the purchase from the Houston-based
energy and trading company. Mr. Skilling said he's "not in a particular rush"
to sell Portland General, which Enron acquired in 1996, although he said he
would like to put the money to work in higher-profit businesses. In Friday
New York Stock Exchange composite trading, Enron rose $4.38 to $59.40.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Enron's deal to sell Portland General seen dead-WSJ.
03/26/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, March 26 (Reuters) - Enron Corp.'s $2 billion agreement to sell its
Portland General Electric unit to Sierra Pacific Resources may fall through,
the Wall Street Journal reported in its online edition Monday.
There is only a "5 percent probability" that the sale will go through, Enron
's chief executive, Jeffrey Skilling, was reported as saying on Friday.
Sierra Pacific has been unable to sell its interest in certain generating
assets, which it needed to do to complete the purchase from the Houston-based
energy and trading company, the paper said.
Sierra Pacific agreed in November 1999 to buy Portland General for $2 billion
and the assumption of $1 billion of debt, the paper noted.
Enron shares finished up $4.31 at $59.40 on the New York Stock Exchange
Friday. The stock has a 52-week high of $90.56 and a 52-week low of $51.55.
Sierra Pacific shares, meanwhile, finished up 4 cents at $12.80, also on the
Big Board. Sierra Pacific stock has a 52-week high of $19.44 and a 52-week
low of $10.57.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron's 2 bln usd sale of PGE unit unlikely to go through - CEO
03/26/2001
AFX News
(c) 2001 by AFP-Extel News Ltd
LONDON (AFX) - Enron Corp's 2 bln usd sale of Portland General Electric unit
to Sierra Pacific Resources is unlikely to go through, Enron chief executive
Jeffrey Skilling said according to the Wall Street Journal.
Sierra Pacific has been unable to sell its interest in certain generating
assets, which it needed to do to complete the purchase from the Houston-based
energy and trading company, the newspaper said.
Skilling said he's "not in a particular rush" to sell Portland General,
although he said he would like to put the money to work in higher-profit
businesses.
There are "several billion dollars worth of assets" that Enron will sell "in
the next few years" in its quest to maximize its returns, he said.
Skilling said Enron is moving more heavily into the trading of liquefied
natural gas and is considering exercising options to acquire three LNG
vessels as well as to develop LNG gasification facilities in the Bahamas and
Venezuela. He said Enron Online, the firm's Internet-based trading platform,
soon will begin trading LNG contracts, as well.
Skilling also said the company plans to cut capital spending on its
fiber-optics network to about 250 mln usd this year from an earlier estimated
budget of 750 mln. He said the company can acquire much of the
telecommunications capacity it needs to expand its businesses through
contracts with other owners rather than by building additional network
capacity itself.
Despite the fact California's utilities aren't paying their bills, Enron's
credit exposure in that state is declining, he added.
vh/jfr For more information and to contact AFX: www.afxnews.com and
www.afxpress.com
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA'S ESSAR MAY OPT OUT OF SHELL LNG VENTURE
03/26/2001
Asia Pulse
(c) Copyright 2001 Asia Pulse PTE Ltd.
NEW DELHI, March 26 Asia Pulse - The Essar Group is considering pulling out
of the Royal Dutch Shell promoted Rs 23 billion (US$493.7 million) Hazira
Liquefied Natural Gas (LNG) Terminal project in the western state of Gujarat
due to "overcrowding" of gas projects on the western coast.
"We are having a rethink on the venture as the region may not be able to
absorb the amount of gas coming by way of proposed projects," Essar Group
Chairman Shashi Ruia told PTI.
Essar, being the possible buyer of LNG for its 515 MW power plant at Hazira,
has a Memorandum of Understanding (MoU) with Shell India for equity
participation in the project.
Besides, the five million tonnes Essar-Shell LNG terminal, LNG import
facilities of more than 12.5 million tonnes by various consortias are being
put up in Gujarat, Ruia said adding Gujarat and up-North won't be able to
absorb such an inflow of natural gas.
While Petronet LNG, a joint venture of Indian Oil Corporation (IOC), Bharat
Petroleum Corporation Ltd (BPCL), Gas Authority of India Ltd (GAIL) and Oil
and Natural Gas Corporation (ONGC) is setting up a five million tonne import
facility at Dahej, British Gas is putting up 2.5 million tonnes LNG terminal
at Pipavav.
Reliance is also setting up a five million tonnes LNG terminal at Jamnagar at
an estimated cost of Rs 45 billion.
Ruia said two projects in Maharashtra - five million tonnes capacity LNG
terminal of Enron and 3.5 million tonnes import facility of GAIL-TotalFinaElf
at Trombay - would saturate the demand in the region.
(PTI) 26-03 1756
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. | {
"pile_set_name": "Enron Emails"
} |
i am truly up for either of the suggestions emily made. i just don't want to
go some place that we have already been for this particular excursion.
"Emily Hillegeist" <[email protected]> on 12/09/2000 08:52:57 AM
To: [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected]
cc:
Subject: Re: Annual Christmas Dinner
my vote is for the 22nd- there is a good chance that if we were to plan this
business on the 19th, we would need to bring a cot for me, since approx
8:30pm will still be feeling like waaaaay past my bedtime- and NO ONE wants
me to be subdued, do they (ok, don't answer that.? who else will take it upon
themselves to be embarassingly drunk, perhaps vomiting on the curb.....except
laura- oh- wait- that's the trash can!?? just kidding laura- couldn't resist,
plus, it was nice to have a 'partner in crime'.....jen, kk, other spectacular
vomiters, you are included as well.? you non-hangover, happy-go-lucky at 8 am
people make me sick....literally.....)? god, am i rambling?? a little loopy-
too many papers, too little time. i was also going to throw out las alamedas
as a suggestion or ousies's table.? any thoughts?? i don't think ANY of us
have been there for grp things.....can't wait to see everyone!?
e
>From: Laura Jahnke
>Reply-To: [email protected]
>To: Susan Edwards , Ash Mace , Katy Hester , Emily Hillegeist ,
"[email protected]" , "[email protected]" , Laura White ,
[email protected], [email protected], [email protected],
[email protected], kaseywalker@mindspring, [email protected]
>Subject: Annual Christmas Dinner
>Date: Fri, 08 Dec 2000 13:45:25 -0500
>
>Hi Girls!
>It's that time again. We need to get everyone together for our annual
>Christmas Dinner. I have spoken to many of you and tried to come up
>with a good time for everyone. Unfortunately, there doesn't seem to be
>a "perfect day", but how about Friday-Dec. 22nd? Please respond and
>tell me what you think. I have had a few suggestions for a
>place-Churrasco's, America's, Ruggles, Benji's, Sullivans-please send a
>suggestion. Don't say it doesn't matter because majority vote will win
>and there will be no recount. The time will probably be around 8 p.m.
>I know the 22nd is close to Christmas, so the 19th has also been
>suggested-but I am afraid not everyone will be in town yet. Please send
>me your thoughts on the day, restauraunt, and if we should plan
>something after dinner. I can't wait to see everyone and hope all can
>make it!
>-Laura
>
Get more from the Web. FREE MSN Explorer download : http://explorer.msn.com | {
"pile_set_name": "Enron Emails"
} |
Over the next several months Enron will be phasing in a new expense-reporting
product, Concur Technologies, Expense Management System (XMS). You will be
able to prepare your expense report, send it for approval, and transmit it
for payment using the Intranet. It will be far more user-friendly than the
Excel-based form currently in use and will provide a truly paperless
process. In addition, the system efficiently integrates with the SAP
accounting system.
On October 16, employees who used a prior version of the product upgraded to
the most current release. On October 30, it will be available to Enron Corp
employees, Company 0011. The rollout to other groups will continue through
January 2001. Rollout announcements will be made to each business unit.
In Houston, IT Central will provide four training sessions per week. To
enroll in a class go to itcentral.enron.com and click on
Services>Training>Schedules. Those in outlying locations and those who prefer
on-line training can use LEAP by signing on to sap.enron.com and clicking on
Training, then LEAP. Use xms (lower case) as the User ID and Password.
We are excited about this new system and hope you will find it useful. If
you have questions regarding its use contact IT Central at (713) 345-4727 or
visit their website. | {
"pile_set_name": "Enron Emails"
} |
Hi Vince and Molly.
Here attached is one candidate who is particularly interested in having his
profile sent to Vince...he is going to be traveling to NY from the UK soon
for 2 wks.
He specifically asked my partner at RobertWalters in the UK to investigate
Enron through my new relationship with you guys. He would be Howard Haughton,
attached below (CV).
The other 2 resumes are my students at the University of Michigan. Howard Lin
received a 4.0/4.0 for his last term and will be willing to do whatever it
takes to intern at Enron for June- Aug. I have his picture included as well.
The second is Sung, they are friends. Howy will be done expected in May 2001
and Sung in May 2002. They are my favorite interns and I expect they can be
cultivated to the Enron culture with no real cost to you (a "test drive
before committal. I have agreed to represent them and
shall take ownership, as they become graduate candidates upon their degree
completion.
I hope these attachment can represent my value and commitment to quality of
talent to Enron.
Thank you for your acceptance.
Best wishes for the weekend.
Jeff
* Get free, secure online email at http://www.ziplip.com/ *
- 00343938alec.doc
- SUNGVINCE.doc
- HOWARDAGENT9498132241.doc
- howardlin.gif | {
"pile_set_name": "Enron Emails"
} |
Hi all,
I have run the VaR model for the positions at close fo business 28th of July.
The model is attached below.
As a summary the results are as follows :
and as a comparison the previous days figures were :
This shows some increase in VaR for Aluminium, Copper and Lead. The prices
for gold and cocoa beans have not been updated
as we still do not have a live feed to Bloomberg/Reuters. I will be working
on this with Cantekin and Andreas should also be able to
provide some more historical data.
Also, after having a discussion with Andreas here in London we should
probably reduce the vol we are using for TC - we are taking the Cu price
vol as a proxy which is a too high. However, assuming the the other
assumptions we have made around the TC ( ie simulating a parallel shift in
the curve and
including no term structure to the price curve) the vol estimate is a
conservative one.
Cheers
Kirstee | {
"pile_set_name": "Enron Emails"
} |
Hi Katie, Looks like you got the address right. I too enjoyed talking with
you last night. I know you were disappointed to be distracted from your
research project for a while.
Its been a busy week so far. The end of the yearly quarter always is. Last
minute deals have to be closed to book the income. At this time of year the
commercial dealmakers get that wild eyed looked which says "I have got to get
this project done or I am out of here". March 31 can't arrive soon enough.
Got any big plans for the weekend? Hanging out at the Dixie Chicken or is
that only where rookies hang out?
Take care and I'll talk to you later.
Gerald
Katie McMahon <[email protected]> on 03/22/2000 12:32:59 PM
To: Gerald Nemec <[email protected]>
cc:
Subject: Hi!
Hey Gerald,
Just checking to see if I got your address right. I enjoyed talking
with you last night. Have a great week! :)
Katie | {
"pile_set_name": "Enron Emails"
} |
ok so we are going now. come down there. i think that we should have drank at lunch. the iced tea didn't do much for me. | {
"pile_set_name": "Enron Emails"
} |
Dr. Kaminski:
Thanks very much for taking the time to talk with me about my
electricity model when you visited Carnegie Mellon. (I was the PhD
student in Finance who had a two-factor model for pricing
electricity. My model incorporated strategic behaviour and varying
price elasticities across different consumers of electricity). While here,
you mentioned the possibility of further developing my model at Enron.
One avenue you suggested was through the summer internship program at
Enron. If this is still an option, I would very much like to talk with you
or one of your associates about working with or at Enron on my model.
I can be reached by phone at (412) 683-9085.
Sincerely,
Aziz A. Lookman
Graduate School of Industrial Administration
5000 Forbes Avenue
Carnegie Mellon University
Pittsburgh, PA 15213
Tel: 412-268-3681
Fax: 412-268-6837
(pls. mark the fax c/o Jackie Cavendish) | {
"pile_set_name": "Enron Emails"
} |
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"pile_set_name": "Enron Emails"
} |
I'm just glad you sent it to the right person.
Gabriel Monroy
03/07/2001 10:30 AM
To: Robin Rodrigue/HOU/ECT@ECT
cc:
Subject: Shock!
FYI
PS
Information contained in this E-mail is confidential and proprietary and is
intended only for the use of the person(s) or entity named above.
---------------------- Forwarded by Gabriel Monroy/HOU/ECT on 03/07/2001
10:26 AM ---------------------------
Alicia Perkins@EES
03/07/2001 10:22 AM
To: Gabriel Monroy/HOU/ECT@ECT
cc:
Subject: Shock!
OK, I was right but I am in SHOCK! I am so happy for you guys. I had no
idea. Robin said that she was sure I had you guys all figured out but I
promise you... I didn't! Are you going to the happy hour at the races
tomorrow night? I am. Talk to ya later. | {
"pile_set_name": "Enron Emails"
} |
Today we announced the appointment of Jeff McMahon as Enron's chief financial officer. In my continued discussions with the financial community yesterday and today, it became clear that this move was required to restore investor confidence. Jeff has unparalleled qualifications and a deep and thorough understanding of Enron. He is already on the job and hard at work on the issues before us. Andy Fastow will be on a leave of absence from the company.
Jeff had been serving as chairman and CEO of Enron Industrial Markets. He joined Enron in 1994 and spent three years in the London office as chief financial officer for Enron's European operations. Upon returning to the U.S., Jeff was executive vice president of finance and treasurer for Enron Corp. In 2000, he was named president and chief operating officer of Enron Net Works.
I know all of you are concerned about the continuing decline in our share price. I am too, and we are working very hard to turn it around. Appointing Jeff as CFO is one important step in that process. But most of the solution involves just continuing to do our jobs with excellence. The fundamentals of our business are strong, and I think the market will begin to see that as we continue to perform.
Please join me in giving Jeff your full support, and thank you for all of your continued hard work. | {
"pile_set_name": "Enron Emails"
} |
Below are summaries of the major cases discussed at today's FERC Open Sunshine Meeting. More detailed summaries and analysis of the attendant orders will be included in the Weekly Report next week, or may be sent out as supplemental reports as the orders are issued.
OFO Presentation and Discussion, GX01-1 [Item G-1]
In a Power Point presentation Staff discussed OFOs, citing past customer concerns that gave rise to Order 637 revisions, and recommending further remedies in the form of monitoring mechanisms (see bullets from presentation below).
The crux of the discussion among the three Commissioners (Commissioner Massey was absent due to illness) is that FERC will monitor pipeline OFO habits proactively to look for patterns of abuse on particular systems. Such a pattern could the need for additional facilities to alleviate constraint points.
Commissioner Breathitt agreed to the approach outlined, but indicated that it would be prudent to allow Order 637 revisions time to work. She noted that the issue is and has been pipeline specific, not industry-wide. Commissioner Brownell also clarified that, though the monitoring mechanism (through EBB postings and reports to Commission) is new, the Commission has not seen a recent pattern of abuse - the mechanism is designed to anticipate future problems.
Presentation bullets:
Commission's Goals
Ensure reliable service;
Minimize OFOs, maximize market forces and customer flexibility;
Give shippers information needed;
Monitor OFO abuse to identify system constrain points.
Initiatives to Achieve Goals
Order 637 to enhance market design rules;
Market monitoring;
Necessary infrastructure additions.
OFO Definition
Issued by pipelines to maintain service reliability;
Can be system-wide or limited to specific pipeline segments;
Typically restricts use for receipt/delivery points;
Requires shippers to stay in balance at tightened tolerance levels.
OFO Addressed in Order 637
Too ill defined; too large in scope;
Remains in effect too long;
Market affiliates unduly benefit;
Shippers not informed on timely manner;
Level of OFO penalties excessive.
Order 637 Remedies
Better define OFO;
Develop a continuum of emergency measures;
Timely inform shippers of OFO;
Set proper OFO penalty level and credit revenues to shippers;
Require OFO activity report.
Market Monitoring
Staff will oversee OFO activity;
Oversight will rely on EBB postings; pipeline reports, and other sources.
Efficient and Effective Collection of Data,GX01-2 [Item G-22]
Chairman Wood called this item for discussion in response to queries from the American Public Gas Association (APGA) about what actual market data is generally available for the natural gas industry. This issue came out in part due to the AGA storage data error that occurred a month or so ago. APGA suggests the following information be available:
1. Production
2. Production capability (and resulting utilization rate based on #1 and #2)
3. Pipeline capacity
4. Operational capacity (and resulting utilization rate based on #3 and #4)
5. End-use by customer class
Because of the AGA "hiccup" on its data storage numbers, Chairman Wood would like to see more than one data source for important market information (though it may not be FERC's job to collect such data). Commissioner Brownell suggested the establishment of a stakeholder group to determine what kind of information is needed, if any information is collected and not used, and how collected information will serve the market. Staff noted that several information collection items are being developed for the 2002 FERC Business Plan, and the APGA list may be incorporated into that effort.
East Tennessee Expansion for new generation, CP01-80 [Item C-1]
This case, in which an East Tennessee expansion to serve a new generation load is approved, was called by Chairman Wood in response to a specific issue raised by APGA. APGA is concerned that the "proliferation of pipeline projects" to serve generation are being approved without consideration of the resultant impact on the nation's gas customers - that impact being the exacerbation of natural gas prices across the board. Chairman Wood said he wanted to clarify publicly that, as stated in the order, it is not FERC's job to decide "why any person needs gas?.the public is best served when the market dictates" price and supply. He pointed out that the Commission's certificate policy is very direct and clear on risk, and he is comfortable with that state of affairs.
Generation Interconnection, EX01-5 [Item E-1]
The Commission agreed to establish a Straw Man model (probably using the ERCOT model) to modify generation interconnection procedures, service agreements and rights. This process will precede a NOPR that will establish interconnection standards to alleviate complaints, constrictions and delays in processes. Once the Straw Man method is finalized, the NOPR will have an accelerated process in which to comment, reply and implement in a final rule. This is "Step One" of the process, with "Step Two" to be a subsequent and separate NOPR to examine and resolve the cost responsibility issues related to interconnection standards. The Commissioners agreed that splitting the financial aspect out into a separate proceeding will allow for an "easy win" on the establishment of standards. Cost issues include a) allocation between generators and providers and b) common costs recoverable across all users.
Carolina Power & Light, ER01-1807 [Item E-15]
Chairman Wood called this case for discussion to highlight a change in Commission policy. In this case, FERC is imposing the gas model for penalty revenue crediting to electric transmission providers. Described as a "market based imbalance solution," the prospective change requires that revenues from imbalance penalties should be credited back to non-offending customers. The exact mechanism for such crediting has not been outlined in the Carolina order. Commissioner Brownell reiterated that this approach "sends the right economic signals" to transmission customers to stay in balance. | {
"pile_set_name": "Enron Emails"
} |
BUSINESS HIGHLIGHTS
Enron Industrial Markets
Enron Industrial Markets announced the signing of definitive agreements with
Huntco, Inc. under which over a 15-year period Enron will provide inventory
price risk management services and will eventually provide more than 600,000
tons per year of hot-rolled, cold-rolled and galvanized steel products to
Huntco Steel. The agreements provide Enron access to Huntco,s network of
steel distribution centers nationwide. The agreements also provide for Enron,
s acquisition of Huntco,s cold rolling and certain coil pickling operations
in Blytheville, Arkansas.
These transactions with Huntco have the potential to fundamentally change the
way steel is bought and sold in the United States. It gives Enron immediate
access to physical steel and positions Enron geographically to serve the
steel industry in a variety of ways. In addition to providing physical
products on both a spot and term basis, EIM,s goals for the steel industry
include developing commodity risk management products, providing structured
finance products and establishing the market-making capabilities that Enron
has brought to the natural gas, power and other commodity markets.
Enron North America-Upstream Products
Upstream Products has partnered with Duke Energy Field Services (DEFS) to
close a 20-year NGL exchange and transportation deal with Formosa
Hydrocarbons and Williams Energy Field Services to handle raw make product
from the Williams Markham plant. Formosa Hydrocarbons is building a 40,000
BPD fractionator to handle this and other Gulf Coast NGL production. The
accompanying pipeline will be known as the Seabreeze pipeline system and will
be constructed by DEFS. Texas Brine LLC will provide NGL storage services for
Formosa Hydrocarbons on this system. Primary production for this system is
coming from the Boomvang Nansen field in the deepwater GOM and will be the
first deepwater GOM production to come onshore in Texas.
Upstream Products has also worked to arrange a 20-year transportation lease
agreement on the Dean Pipeline (owned by TEPPCO) for refinery grade propylene
service to be utilized by Formosa Plastics. Coupled with this transaction,
Enron Clean Fuels has entered into a propylene storage agreement with Formosa
Plastics to utilize ECF,s Mt. Belvieu storage facilities. In addition, Enron
Global Markets has been able to amend its current transportation agreement
with TEPPCO to prematurely terminate a take-or-pay obligation and realize
additional transportation revenues from interim NGL production coming from
the Williams Markham to be delivered to Mt. Belvieu.
Upon close, Upstream Products was monetized out of its initial position by
DEFS and retained a risk-free net profits position on the Seabreeze Pipeline
going forward for an additional 20,000-40,000 BPD of excess capacity on the
system.
ENA West Power
Southwest Power, an ENA affiliate, signed a 222MW 15-year tolling agreement
with Allegheny Energy Supply for all of the output of Southwest's Las Vegas
expansion project, scheduled for completion in September, 2002. With the
tolling agreement done and construction underway, the project will now be
marketed to qualified generators.
IN THE NEWS
&To truly understand Enron,s Jeffrey Skilling ) the hypersmart,
hyperconfident chief executive of what may now be the largest energy trading
company on the planet ) head to your local video store and check out that
classic American cinema, Wayne,s World. At 15, Skilling helped launch a
no-budget television station in Aurora, Illinois ) the very thing that Mike
Myers and Dana Carvey so famously spoofed on Saturday Night Live and in two
movies. The TV skit even begins with a sketch of a teenage cameraman, the
role of the real-life Skilling.8 )-- Randall Lane, Worth Magazine. May 2001.
Calgary, Alberta -- Enron Canada has settled its lawsuit with NGX, Canadian
Enerdata, OM Gruppen and Richard Zarzeczny, regarding the compilation and
methodology for calculating the Alberta natural gas price indices published
by the Canadian Gas Price Reporter. By the terms of the settlement there
will be a joint press release issued regarding the settlement, which is to be
the only public communication regarding the matter unless agreed to by all
parties. Otherwise the settlement is confidential to the parties.
Accordingly, there is to be no formal or informal discussion with media,
colleagues, competitors, counterparties or otherwise.
WELCOME
New Hires
EGM - Salil Pradhan, Randy O,Conner, Ricardo Charvel, Greg Fields, Ken
Newman, John Ashman, Rick Cantrell, Tim Klaiber, Trevor Woods,
EIM - Tim Asterman, Maxine Leclaire, Jerry Newton, Philip Siewert, Janamon
Johnson, Darralyn Briskey, Theodore Rogers,
ENA - Rae Meadows, Tiffany Winship, Adrianne Engler, Kimberly Yates, Jackie
Verity,
Transfers (to or within)
ENA )Christa Winfrey, Mario Alonso, Paul Rizo-Patron, Nick Ploitis, Misti
Day, Robert Cothran, Susan Wilson, Diane Cutsforth, David Owen
EGM ) Mark Friedman, John Groves, Deirdre McCaffrey, William Windle
EnronOnline Statistics
Below are the latest figures for EnronOnline as of May 9, 2001.
* Total Life to Date Transactions > 963,575
* Life to Date Notional Value of Transactions > $579 billion
NUGGETS & NOTES
Reminder: Brown Bag Lunch, Thursday, May 17 at 11:30 AM in 5 C2. The speaker
is Michael L. Miller discussing Principal Investments.
&Historically, Newsprint has been sold under strong relationships as a highly
differentiated, branded product to &very discriminating8 buyers at newspaper
publishers. EIM believed differently. By the end of March, EIM had succeeded
in closing on its 2nd Newsprint mill, making it the 7th largest Newsprint
manufacturer in North America. Remarkably, in just 2 months, EIM,s Newsprint
team has succeeded in closing $100MM total notional value &Enron commodity
style8 fixed price contracts with terms of 1 to 5 years(..and they said it
wasn,t a commodity.8
Rodney Malcolm ) Vice President, Forest Products Sales and Marketing
Travel Tip of the Week: Book flights 7 days in advance. The cost savings
can be considerable if you plan ahead ) at least 7 days.
For example: Houston to Portland
Less than 7 days: $ 1,652
7 day advance ticketing $ 324
Congratulations to Kimberly and Eric Thode, director of ENA Public
Relations. They are the proud parents of Whitney Marie, born on May 3. She
weighed 8 lbs. 8 oz.
Congratulations to proud parents Nettelton and Louise Kitchen, COO, Enron
Americas. Their son, Scott William, was born on May 9 and weighed 9 lbs.1 oz.
NEWS FROM THE GLOBAL FLASH
Enron closes major coal deal in Germany
After almost six months of negotiations, Enron's coal team has signed a
contract with Stadtwerke Bremen to supply this major German municipality with
coal until 2006. Under the deal structure, Enron will deliver a total of 4.6
million tonnes of coal - equivalent to an overall contract volume of almost
$200 million (DM 440 million).
The agreement represents Enron's first significant long-term coal supply deal
in Germany. The annual contractual volume amounts to around 3% of total
German coal imports and provides us with continuous volume flow in Northern
Germany, enabling us to grow our position in the market.
Parallel to this deal, Enron also entered into a separate agreement with HMS
Bergbau Agentur, a company specialising in Polish exports. Under this
agreement, HMS will be the handling agent and a potential supplier of Polish
coal to us over the lifetime of the contract.
Congratulations to the whole team involved: Sven Becker, Manfred Ungethum,
Cornelia Luptowitsch, Peter Bradley, Jez Peters and Michael Schuh.
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries. It is intended for internal use only
and should not be disclosed. | {
"pile_set_name": "Enron Emails"
} |
Lillian, I forgot to add that the slate of directors and officers for
Capacity Management Corp. will be identical to that of Transwestern Pipeline
Company., | {
"pile_set_name": "Enron Emails"
} |
Lisa --
Who should I send this guy to? Tim Battaglia?
Thanks.
-----Original Message-----
From: [email protected]@ENRON [mailto:[email protected]]
Sent: Friday, September 28, 2001 3:11 PM
To: [email protected]
Subject: Hi, Jim - I have a favor to ask!
Hey, Jim!
How are you and Marianna and Grace doing? Well, I hope! I don't know if Jason has mentioned to you that Roger and I have been living in Birmingham, Alabama - no, not in a trailer. Roger moved here with work last November, and I finally caught up with him early this summer.
In the meanwhile, he has left the company he was working for, and we are looking at moving back to Houston. Roger has spent the last six years in the recyclable steel (steel scrap) trading business as a trader. We have noticed that Enron is involved in steel trading, as well as coal trading - two areas in which Roger would be very interested pursuing possible opportunities. I was wondering if you would be able to provide us with a couple of potential contact names of people who work directly over those areas. I hope I am not putting you on the spot. We just believe that it would be much more fruitful to be able to make contact in that manner. If you are not comfortable doing that, I would certainly understand.
In any event, please drop me a line and let me know how you are doing! It has been a while. Was the sailing trip with Jason and Shea the last time I saw you? That was pretty fun! I hope Jason hasn't sold the boat. If we ever do get back to Houston, I would love to do that again. I haven't talked to Jason since July - when we were able to go to lunch. I'm hoping he and Shea are still making a go of it. They would make a great pair! Anyway, I hope to hear from you soon! Thanks! Lisa | {
"pile_set_name": "Enron Emails"
} |
Tom Gros' area. | {
"pile_set_name": "Enron Emails"
} |
Agreement in principle. Still need to negotiate definitive contracts. Many parties still have to agree with this proposed solution before its final (including the Legislature). This looks very good for SCE.
Jim
---------------------- Forwarded by James D Steffes/NA/Enron on 04/09/2001 07:03 PM ---------------------------
From: Jeff Dasovich on 04/09/2001 07:00 PM
Sent by: Jeff Dasovich
To: Alan Comnes/PDX/ECT@ECT, Angela Schwarz/HOU/EES@EES, Beverly Aden/HOU/EES@EES, Bill Votaw/HOU/EES@EES, Brenda Barreda/HOU/EES@EES, Carol Moffett/HOU/EES@EES, Cathy Corbin/HOU/EES@EES, Chris H Foster/HOU/ECT@ECT, Christina Liscano/HOU/EES@EES, Craig H Sutter/HOU/EES@EES, Dan Leff/HOU/EES@EES, Debora Whitehead/HOU/EES@EES, Dennis Benevides/HOU/EES@EES, Don Black/HOU/EES@EES, Dorothy Youngblood/HOU/ECT@ECT, Douglas Huth/HOU/EES@EES, Edward Sacks/Corp/Enron@ENRON, Eric Melvin/HOU/EES@EES, Erika Dupre/HOU/EES@EES, Evan Hughes/HOU/EES@EES, Fran Deltoro/HOU/EES@EES, Gayle W Muench/HOU/EES@EES, Ginger Dernehl/NA/Enron@ENRON, Gordon Savage/HOU/EES@EES, Harold G Buchanan/HOU/EES@EES, Harry Kingerski/NA/Enron@ENRON, Iris Waser/HOU/EES@EES, James D Steffes/NA/Enron@ENRON, James W Lewis/HOU/EES@EES, James Wright/Western Region/The Bentley Company@Exchange, Jeff Messina/HOU/EES@EES, Jeremy Blachman/HOU/EES@EES, Jess Hewitt/HOU/EES@EES, Joe Hartsoe/Corp/Enron@ENRON, Karen Denne/Corp/Enron@ENRON, Kathy Bass/HOU/EES@EES, Kathy Dodgen/HOU/EES@EES, Ken Gustafson/HOU/EES@EES, Kevin Hughes/HOU/EES@EES, Leasa Lopez/HOU/EES@EES, Leticia Botello/HOU/EES@EES, Mark S Muller/HOU/EES@EES, Marsha Suggs/HOU/EES@EES, Marty Sunde/HOU/EES@EES, Meredith M Eggleston/HOU/EES@EES, Michael Etringer/HOU/ECT@ECT, Michael Mann/HOU/EES@EES, Michelle D Cisneros/HOU/ECT@ECT, [email protected], Neil Bresnan/HOU/EES@EES, Neil Hong/HOU/EES@EES, Paul Kaufman/PDX/ECT@ECT, Paula Warren/HOU/EES@EES, Richard L Zdunkewicz/HOU/EES@EES, Richard Leibert/HOU/EES@EES, Richard Shapiro/NA/Enron@ENRON, Rita Hennessy/NA/Enron@ENRON, Roger Yang/SFO/EES@EES, Rosalinda Tijerina/HOU/EES@EES, Sandra McCubbin/NA/Enron@ENRON, Sarah Novosel/Corp/Enron@ENRON, Scott Gahn/HOU/EES@EES, Scott Stoness/HOU/EES@EES, Sharon Dick/HOU/EES@EES, [email protected], Tanya Leslie/HOU/EES@EES, Tasha Lair/HOU/EES@EES, Ted Murphy/HOU/ECT@ECT, Terri Greenlee/NA/Enron@ENRON, Tim Belden/HOU/ECT@ECT, Tony Spruiell/HOU/EES@EES, Vicki Sharp/HOU/EES@EES, Vladimir Gorny/HOU/ECT@ECT, Wanda Curry/HOU/EES@EES, William S Bradford/HOU/ECT@ECT, Kathryn Corbally/Corp/Enron@ENRON, Jubran Whalan/HOU/EES@EES, [email protected], Richard B Sanders/HOU/ECT@ECT, Robert C Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Greg Wolfe/HOU/ECT@ECT, James Wright/Western Region/The Bentley Company@Exchange, Dirk vanUlden/Western Region/The Bentley Company@Exchange, Steve Walker/SFO/EES@EES, Jennifer Rudolph/HOU/EES@EES, Martin Wenzel/SFO/HOU/EES@EES, Douglas Condon/SFO/EES@EES, [email protected], Scott Govenar <[email protected]>, Hedy Govenar <[email protected]> @ ENRON, [email protected], Mike D Smith/HOU/EES@EES, John Neslage/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Janel Guerrero/Corp/Enron@Enron, Eric Letke/DUB/EES@EES, Richard B Sanders/HOU/ECT@ECT, [email protected], Michael Tribolet/ENRON@enronXgate, Robert Frank/NA/Enron@Enron, Richard B Sanders/HOU/ECT@ECT, [email protected], Susan J Mara/NA/Enron@ENRON, Mercy Gil/Enron@EnronXGate, Jennifer Thome/NA/Enron@Enron, David Leboe/HOU/ECT@ECT
cc:
Subject: Summary of the MOU
The following is an outline of the basic terms of the Southern California Edison Memorandum of Understanding:
? Commitment to Provide Power - SCE will keep its current generation plants and other generation assets and commit them to provide power on a regulated cost-of-service basis for 10 years.
? Dedication of Power - Edison International will commit the entire output of Sunrise (one of Edison International's non-regulated generating facilities) to the State on a fixed price basis for 10 years. Phase I of Sunrise is to be brought online by August 15, 2001. If not brought online by August 15, 2001, Edison International shall be assessed a $2 million penalty.
? Transmission Sale - SCE will sell to the State its transmission assets for approximately $2.76 billion (2.3 times the net book value of the assets), subject to certain adjustments. Of the $2.76 billion, the $1.5 billion gain on sale, will be used to reduce SCE's net undercollected amount as of January 31, 2001. In connection with the purchase, the State will also assume certain liabilities associated with the transmission assets.
? Backup Transaction - If the transmission sale does not occur within two years for reasons beyond the parties' control, then if the State elects, SCE shall sell to the State SCE's hydro generation assets. If the hydro assets are not worth $1.5 billion, then SCE will also sell the state after December 31, 2010 enough below-market-price-power to make up the shortfall.
? Conservation Property - SCE shall grant perpetual conservation easements to the State covering approximately 260,000 acres of its Big Creek hydroelectric related lands and 825 acres of its Eastern Sierra hydroelectric related lands. Some of the land may be deeded in fee.
? Contribution by Edison International - Edison International will refund to SCE not less than $400 million. This money will consist of a refund of approximately $293 million in estimated 2000 quarterly tax payments plus approximately $197 million in federal loss carryback tax savings.
? Investment - Edison International and SCE will invest not less than $3 billion over the next 5 years in capital improvements for SCE.
? Litigation - SCE shall dismiss certain claims, including its takings and filed rate doctrine cases.
? CPUC Regulation - CPUC shall continue to regulate SCE using historical principles of ratemaking.
? Payment for Portion of QF Drop-off - SCE shall pay an amount that represents that portion of the net short from January 18, 2001 to April 1, 2001 that is attributable to QF's not selling to SCE (due to SCE's failure to pay the QF's). SCE will securitize this amount.
? Securitization - SCE shall securitize its full net undercollected amount (approx. $3.5 billion). The securitization shall occur in two tranches (i.e. two different nonbypassable dedicated rate components).
? The first tranche will occur after the passage of legislation and the signing of the definitive agreements and will cover the net undercollected amount, less the gain on sale, plus interest on certain obligations in the net undercollected amount.
? The second tranche would be triggered if the transmission sale does not occur within two years. Accordingly, the second tranche would not show up in rates for two years, if at all.
? Buying the Net Short - The State will be required to buy the net short through December 31, 2002. After 2002 SCE will be responsible for covering the net short.
? Investment Recovery - SCE shall have an authorized rate of return that will not drop below its current rte (11.6%) during the 10 year cost of service ratemaking period.
? Next Steps (Definitive Agreements and CPUC Action):
? Definitive Agreements - Once the MOU is signed, the next stage is to negotiate definitive agreements which contain the specific terms of the transmission sale, as well as the specific terms of the various other related agreements (e.g., the O&M Agreement, Transmission Services Agreement and the Facilities Services Agreement).
? CPUC Action - Prior to entering into the definitive agreements, the CPUC must undertake certain actions (which include: establishing mechanisms for preapproval of procurement costs and URG costs, deferring SCE's general rate case until 2003, granting SCE some relief from direct access credits and clarifying the first priority condition in the holding company act). | {
"pile_set_name": "Enron Emails"
} |
This impacts the following deals in Sitara,
Deal 222734 - purchase from Alliance
Deal 265943 - purchase from Meng
Deal 227992 - transport usage
---------------------- Forwarded by Chris Germany/HOU/ECT on 09/06/2000 01:24
PM ---------------------------
Chris Germany
09/06/2000 01:04 PM
To: Kyle R Lilly/HOU/ECT@ECT, Alicia Perkins/HOU/ECT@ECT, Crystal
Hyde/HOU/ECT@ECT
cc: Mary Theresa Franklin/HOU/ECT@ECT, Jeanne Wukasch/Corp/Enron@ENRON
Subject: CNR curve
I changed the formula on the IF-CNRGATH curve in the EastMrkt file. Before
the change it was CGT/APPALAC - $.32. After the change its (CGAS -
$.30)x(1-.0492). This widens the spread by about $.24. | {
"pile_set_name": "Enron Emails"
} |
This is about Enron movie trading business where we are a market maker for trading future of a movie's gross box office receipt. Rich sent to many people a writing explaining his movie trading idea and asked us to provide some feedback.
I think the idea (see below) might be applicable to other parts of Enron. We can call it "Dynamic bid-ask price process".
In fact, we can set that the bidding period is closed when no new bid is submitted to the system within a specified amount of time. The final (clearing) bid and ask prices are just the last "tentative" price shown to the public before the bidding period ends. (So the customers can see the final price before the market close and can revise their bids if they wish.)
I think this method is suitable for illiquid products to be traded via EnronOnline.com.
-Chonawee
---------------------- Forwarded by Chonawee Supatgiat/Corp/Enron on 04/24/2001 07:48 PM ---------------------------
Chonawee Supatgiat
04/24/2001 07:40 PM
To: Richard DiMichele/Enron Communications@Enron Communications
cc: Chonawee Supatgiat/Corp/Enron@ENRON, Cynthia Harkness/Enron Communications@Enron Communications, Greg Wolfe/HOU/ECT@ECT, James Ginty/Enron Communications@Enron Communications, Jim Fallon/Enron Communications@Enron Communications, Kelly Kimberly/Enron Communications@Enron Communications, Kevin Howard/Enron Communications@Enron Communications, Key Kasravi/Enron Communications@Enron Communications, Kristin Albrecht/Enron Communications@Enron Communications, Kristina Mordaunt/Enron Communications@Enron Communications, Martin Lin/Contractor/Enron Communications@Enron Communications, Paul Racicot/Enron Communications@Enron Communications, Zachary McCarroll/Enron Communications@Enron Communications, Martin Lin/Contractor/Enron Communications@Enron Communications
Subject: calculating bid-ask prices
I think we should let the price float with the market instead of trying to forecast it. Otherwise, if our forecast is not consistence with the market, we may have an imbalance in the bid-ask orders and we may end up taking some positions. You know, as Russ and Martin pointed out, we cannot fight with the studio and exhibitors because they have inside information and can game the price easily.
One way to ensure the balance of the bid-ask orders is to embed an exchange system inside our bid-ask prices front end. Each week, we have a trading period. During the period, instead of posting bid-ask prices, we post "tentative" bid-ask prices, then we ask our customers to submit their acceptable buying or selling price. These "tentative" bid-ask prices get updated and are shown to the public. Of course, customers can revise/withdraw their bids anytime during the trading period. At the end of the period, we calculate and post the final bid and ask prices. The seller who submits lower selling price than our final bid price gets paid at the bid price. The buyer who submits higher buying price than our final ask price pays at the ask price. Next week, we repeat the same process.
This way, we can manage our positions easily and we can also behave like a broker where we don't take any position at all. We make profit from those bid-ask spread. We don't have to worry about forecasting accuracy and insiders' trading because we don't have to take any position. Let the market be the one who decides the price.
If we maintain our net position as zero, at the end, when all the actual gross box office numbers are reported in those publications, our customers with open long/short positions are perfectly matched. Using the mark-to-market charge can reduce credit risk.
Thanks,
-Chonawee
---------------------- Forwarded by Chonawee Supatgiat/Corp/Enron on 04/24/2001 07:24 PM ---------------------------
Chonawee Supatgiat
04/20/2001 04:31 PM
To: Richard DiMichele/Enron Communications@Enron Communications, Key Kasravi/Enron Communications@Enron Communications
cc: Martin Lin/Contractor/Enron Communications@Enron Communications
Subject: some more input
Hi Rich and Key,
Again I think your idea is very good. I think that we, as a market maker, can reduce our credit risk (risk of default) if we do the "mark-to-market" charging. That is, each week when we release a new expected value of the gross box office receipt, we balance all the opening positions the same way as in a regular future market. This way, we can give margin calls to the couterparties who are expected to owe us a lots of money.
In the last paragraph, I think the gross box office can also be determined from the market itself (i.e., if there are lots of buyers, our offer price should go up.)
We can offer other derivative products such as options as well.
-Chonawee | {
"pile_set_name": "Enron Emails"
} |
Attached is a draft Complaint to the Alberta Market Surveillance
Administrator respecting the Balancing Pool's offer strategy for Clover Bar.
Please provide any comments as soon as possible.
Peter | {
"pile_set_name": "Enron Emails"
} |
Thanks very much, Scott. Shouldn't be a big problem. Our buy-down auction
would require the customer to commit to a fixed reduction over an extended
period (for a price), and the reduction would have to be verifiable, i.e.,
the customer would need to have the equipment necessary to verify (which
isn't a problem for large customers). Sounds like a misunderstanding on the
part of the legislator and something that we should be able to talk through.
I'll be there tomorrow. If it makes sense for me to meet with them, just let
me know. Who's the legislator in charge of demand buy-down?
Best,
Jeff
Scott Govenar <[email protected]>
02/27/2001 07:58 PM
To: Hedy Govenar <[email protected]>, Mike Day <[email protected]>, Bev
Hansen <[email protected]>, Jeff Dasovich <[email protected]>, Susan J Mara
<[email protected]>, Joseph Alamo <[email protected]>, Paul Kaufman
<[email protected]>, Michael McDonald <[email protected]>,
David Parquet <[email protected]>, Rick Johnson
<[email protected]>, Marcie Milner <[email protected]>, Sandra McCubbin
<[email protected]>, Tim Belden <[email protected]>, Rick Shapiro
<[email protected]>, Jim Steffes <[email protected]>, Alan Comnes
<[email protected]>, Chris Calger <[email protected]>, Mary Hain
<[email protected]>, Joe Hartsoe <[email protected]>, Donna Fulton
<[email protected]>, Steven Kean <[email protected]>, Karen Denne
<[email protected]>, Beverly Aden <[email protected]>, Bill Votaw
<[email protected]>, Carol Moffett <[email protected]>, Debora
Whitehead <[email protected]>, Dennis Benevides
<[email protected]>, Don Black <[email protected]>, Dorothy
Youngblood <[email protected]>, "[email protected]"
<[email protected]>, "[email protected]" <[email protected]>,
"[email protected]" <[email protected]>, "[email protected]"
<[email protected]>, "[email protected]" <[email protected]>,
"[email protected]" <[email protected]>, "[email protected]"
<[email protected]>, Mike D Smith <[email protected]>, "[email protected]"
<[email protected]>, "[email protected]" <[email protected]>, "[email protected]"
<[email protected]>, "[email protected]"
<[email protected]>, Leslie Lawner <[email protected]>, John
Neslage <[email protected]>, Ken Smith <[email protected]>
cc:
Subject: Buy Down
We met with the legislator who is in charge of the Summer 2001
subcommittee today to discuss Enron's buy down proposal. Dave Freeman
had discussed the idea with her previously, however, his version
required that the contract be for a pre-arranged price, based on the
notice you were given presumably by the ISO, i.e. 24 hours = x, 12 hours
= y, etc. Consequently, her concern with our proposal was the
uncertainty of allowing customers to choose whether or not they want to
shut down based on price versus requiring them to shut down to meet
demand, i.e. a modified interruptable.
She requested that we provide her with information about existing buy
down programs and their successes. | {
"pile_set_name": "Enron Emails"
} |
John Lavorato, Mark Haedicke and Mike McConnell
-----Original Message-----
From: [email protected]@ENRON
Sent: Thursday, November 08, 2001 4:23 PM
To: Taylor, Mark E (Legal)
Subject: Wrapco
If we are going to form Wrapco today we need to name directors in the
charter.
Thanks,
Trish.
**********NOTE**********
The information contained in this email message is intended only
for use of the individual or entity named above. If the reader
of this message is not the intended recipient, or the employee or
agent responsible to deliver it to the intended recipient, you
are hereby notified that any dissemination, distribution or
copying of this communication is strictly prohibited. If you
have received this communication in error, please immediately
notify us by telephone (214-746-7700), and destroy the original
message. Thank you. | {
"pile_set_name": "Enron Emails"
} |
We will be offering 2 training classes over the next few weeks. If you are
interested in attending either of these courses, please let me know by
Friday, April 13th.
Tricks of the Trade for Analysts in the Energy Biz
Presented by Jonathan Koomey, PhD, Staff Scientist, Lawrence Berkeley
National Lab
Date: Wednesday, April 18th
Time: 9:00 am - 5:00 pm
Location: To Be Determined
Course Outline:
Put facts at your fingertips: Key references and data sources.
Understanding data: Pitfalls in data acquisition and handling.
Introduction to back of the envelope calculations.
Summary of US and Western electricity systems.
This course is still in the trial phase and will require each participant to
provide feedback as to the course content and overall delivery. Class size
is limited to 15 participants.
Negotiation Skills Training - Fighting Fires Without Burning Bridges
Presented by Steven Cohen, President, The Negotiation Skills Company
Date: Tuesday, May 8th and Wednesday May 9th
Time: 9:00 am - 5:00 pm
Location: To Be Determined
Pre-Work: Questionnaire outlining your concerns about negotiation.
Reading Getting to Yes by Roger Fisher and William Ury (provided by Enron).
Course Outline:
This workshop introduces the process of interest-based negotiation and
reinforces those skills through a carefully structured interactive program.
The training provides a group of participants with tools to increase
collaboration and reduce conflict.
Class size is limited to 18 participants.
If you have any questions regarding either program, please do not hesitate to
ask.
Thanks!
Amy | {
"pile_set_name": "Enron Emails"
} |
[email protected]
Invited CE World authors,
Many of you have heard by now that ASCE is hosting the 1st Virtual World
Congress for Civil Engineering, CE World (www.ceworld.org). The
call-for-content was issued earlier this summer and the deadline for
submission was September 27, 2001. Although this deadline has passed,
we are still accepting contributions. Go to "Submit Abstracts" on the CE
World web site.
As Content Area Manager for the Geo-Technology area, I invite you to visit
their website to find out more and to submit a contribution. Most content is
expected to be in the form of papers, although you are challenged to "think
outside the box" by including other forms of media. Remember this is a
virtual conference-you do not need to attend; you visit the Congress from
the web. This is a good opportunity to show case your work without having to
travel to present it.
If you are interested in obtaining additional information on CE World, you
can contact me at [email protected] or 952-937-5879. Alternatively,
you can contact CE World Content Manager, Walter Marlowe, at
[email protected] or 703-295-6294.
I hope you will consider this invitation.
Kindest Regards,
John
______________________________________________
John P. Tinucci, PE, PhD, Pres. Phone: (952) 937-5879
PanTechnica Corporation Fax: (612) 677-3603
9187 Victoria Drive Email: [email protected]
Eden Prairie, MN 55347-2759 USA
[email protected] | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 04/25/2000
04:54 PM ---------------------------
"dgweir" <[email protected]> on 04/25/2000 03:46:32 PM
To: <[email protected]>
cc:
Subject:
Please add our contact information to your database. What follows are a
couple of active searches, should you become aware of interested
individuals.
Chief Executive Officer
LOCATION: San Diego, CA
COMPANY: **rates.com
COMPENSATION: Targeted compensation in the >$200k base range plus extensive
stock ownership and bonus.
DESCRIPTION: The Board of Directors of **Rates.com is seeking a dynamic
and experienced executive for the position of CEO of this Pre-IPO Internet
company. The CEO would play a key role in the business strategy of a highly
entrepreneurial and fast-growing company and answer directly to the Board of
Directors. This individual must be smart, highly motivated team leader able
to offer strong business strategies, especially involving the rapid growth
of operations and resulting financial challenges. The CEO must be
expansion-capable and have experience with business start ups, growing
businesses and the ability to get the company to a public offering
The Chief Executive Officer for this 1-year start-up, B2B e-commerce, single
location company must be able to commercially launch the company in the
energy industry, and ultimately expanding into other market niches while
making this company a market leader in the Internet Rate Comparison market.
**Rates.com is a California C Corporation company with an industry leading
Board of Directors and Advisory Board. The company in the process of
assembling a management team, finalizing the business plan and taking the
rate comparison service to market. The initially targeted electric and
natural gas industries have over $200 billion in annual revenues. Currently,
the three largest internet rate comparison companies have little or no
market share in the energy industry.
Possible candidates can come from a variety of experiences, but experience
in starting up an energy company or leading-edge technology company is
critical.
REQUIREMENTS: The candidate must have 8-15 years of executive management
experience (i.e., CEO, President, Sr. Vice-President, Partner level
Consultancy) in the private sector either with a deregulated energy company,
a large consulting or a services oriented firm. Extensive background in
either the energy field, high technology, including telecommunications,
systems software, e-commerce development or e-commerce. Must have a strong
background in business development and building relationships with large
companies. Strong visionary with proven leadership qualities and capable of
building a company. Degree essential.
Computer literate in word processing/budget formats/ and e-mail necessary
group and people skills essential organizational and planning skills a must
over all must be a self-starter and a communicator must be willing to travel
in states as necessary.
Position Title: Director of Acquisitions Department: Corporate Development
Location: DC Reports to: Vice President, Acquisitions
Position Summary:
The person holding this position serves as a transaction team leader for
large acquisition projects within the Energy Group, performing all
activities and managing all resources necessary to successfully acquire
operating power plants, or gas assets. Working largely through
self-direction, he or she manages the project team for an assigned project
and establishes and adheres to budgets and schedules. Due to high deal
flow, the Energy Group needs two Directors of Acquisitions, and has one open
position.
Principal Duties and Responsibilities:
1. Manages the project team for an assigned project. Successfully manages
the project through signing of an asset purchase agreement.
2. Manages development of and inputs to, project/proposal economic
projections. Obtains sign-off on pro forma inputs from appropriate company
officers.
3. Identifies problems and solicits input from appropriate team members
and/or senior management on project issues. Develops alternative solutions
and assesses the alternatives in the context of project and corporate
objectives. Chooses and implements the best solutions.
4. Establishes project budgets and schedules and manages expenditures to
budgeted levels.
5. Plans and organizes tasks and short-term goals for the project team
members to ensure the project stays on schedule. Coordinates activities of
team members (including third parties) from different disciplines to ensure
activities with overlapping disciplinary impacts are performed efficiently.
6. Represents the project and the company in discussions with interested
parties, at lender meetings, etc., and develops appropriate relationships
with individuals involved.
7. Identifies key issues associated with an acquisition and its potential
&fatal flaws.8
8. Assists in maintaining relations with investment banks and legal firms to
assure that company receives all appropriate &deal flow.8
9. Leads process of obtaining company's approval for acquisitions and
coordinates requirements with the corporate office as to due diligence
scope, structuring issues, risk assessment, financial analysis, etc.
10. Reviews, edits and assists in negotiating asset purchase and related
agreements.
11. Assists in the timely closing of transactions.
12. Maintains a working knowledge of regional electric market and sub-market
pricing, load shape, resource mix and transmission characteristics.
Required Job-Related Qualifications:
1. BA/BS required; advanced degree in business or related field preferred.
2. Strong analytical skills, experience in building and managing pro formas.
3. Substantial record of successfully managing and participating in the
development or acquisition and financial closing of independent power
projects or merchant plants.
4. Excellent oral and written communication skills.
5. Ability to function in a team environment with multiple and changing
priorities, as either leader or team member.
Interview with: Chief Financial Officer
Vice President, Acquisitions
Managing Director, Development
Director, Acquisitions
Asian Sales Manager position.
Selling turbomachinery controls throughout Asia. The best location for this
position is in Singapore. All
candidates for this position should have a proven track record selling
controls in the region.
The Asian Sales Manager will be responsible for growing I&C systems product
line(direct sales)throughout Asia. This will include sales of control
systems through engine and turbine packagers and rebuilders. Company will
also pursue sales directly to end-users with the best candidates being the
oil & gas producers and power companies. The company will emphasize gas
turbine applications including compressor and generator drives. The company
is interested in developing alliances with large users such as ONGC,
Petronos, and Caltex, as well as pursuing the individual retrofits with
energy companies. Retrofit opportunities will not be limited to this
company's machines. The company will retrofit any gas turbine. We will also
retrofit gas or diesel engines.
The company expects sales results and then growth plans for leveraging these
early successes. As they grow, additional sales personnel may be added and
they will report to the Asian Sales Manager.
Company hot buttons:
1. Familiar with Asian oil & gas and power generation markets.
2. Strong technical understanding of control systems and turbomachinery
applications.
3. Well organized, self-managed individual.
4. Ability to manage and direct other sales people.
5. Ability to work with key customers, to understand their turbomachinery
requirements and communicate I&C solutions.
6. Ability to achieve early sales results and to develop sustained sales
growth.
7. Ability to develop long-term alliances with key customers, as well as,
sales opportunities on individual control retrofit projects.
8. Strong understanding of sales & marketing principles with the ability to
implement these principles.
9. Ability to work well with people of various cultural backgrounds.
10. The Asian Sales Manager will be based in Singapore and report to the
Director of Sales and Marketing, located in Houston, Texas.
An undergraduate degree in Electrical or Mechanical engineering is required.
A graduate degree is business is also desirable.
Regards,
Dave Weir, Sr. Managing Partner
IEG,Inc.
215-957-9012 fax. 215-957-1753 or 215-957-6090
website: www.iegsearch.com
EMail: [email protected] or [email protected]
Dave Weir, Sr. Managing Partner
IEG,Inc.
215-957-9012 fax. 215-957-1753 or 215-957-6090
website: www.iegsearch.com
EMail: [email protected] or [email protected] Weir, Sr. Managing Partner
IEG,Inc.
215-957-9012 fax. 215-957-1753 or 215-957-6090
website: www.iegsearch.com
EMail: [email protected] or [email protected] | {
"pile_set_name": "Enron Emails"
} |
Dan -
Attached is a form of the BETA agreement for TFS. You will note that I have
made some revisions to the agreement. Please review these with Bob and let's
discuss if necessary.
Mark
Senior Counsel, EWS
Phone: 713-345-8897
Facsimile: 713-646-3490
E-Mail: [email protected] | {
"pile_set_name": "Enron Emails"
} |
Both of these just went in. Let me know if you don't see them yet.
Kate
Evelyn Metoyer@ENRON
04/24/2001 02:41 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: 4/24 Checkout
BLOOMBERG
I am missing the following deals:
1) Dianna buys Dynegy 4/26-4/30 25mw NP-15 at $305.00
2) Matt sells Tractebal Q4'01 Palo Verde 25 mw at $172.00
PREBON
all o.k.
AMEREX
all o.k. | {
"pile_set_name": "Enron Emails"
} |
Mike - I'd suggest we move on any decon work for our facilities at the same
time.....
The find of PCBs in the compressors will undoubtedly be the subject of next
week's meeting. The presence of PCBs does not limit their use at that
station. PG&E would be reluctant to move the engines around on the system.
Depending upon the concentrations at the time, they may be restricted in
their ability to sell or reuse the compressors. I'm not aware of any true
decon process for such equipment. Vector may be able to propose a piecemeal
decon project but it would likely be expensive and involve the outage of the
equipment for a significant period of time. We might want to gather a group
of folks and go over the agenda and our pososible response to a request by
PG&E to take down thier compression.
---------------------- Forwarded by Louis Soldano/ET&S/Enron on 06/02/99
01:12 PM ---------------------------
Larry Campbell
06/02/99 12:21 PM
To: Louis Soldano/ET&S/Enron@Enron, Rich Jolly/ET&S/Enron@Enron, David
Roensch/ET&S/Enron@Enron, Butch Russell/ET&S/Enron@Enron, Jeffery
Fawcett/ET&S/Enron@Enron, Earl Chanley/ET&S/Enron@Enron, William
Kendrick/OTS/Enron@Enron
cc: Kendrick/OTS/Enron@Enron, Rick Cates/ET&S/Enron@Enron
Subject: Additonal Information Concerning PG&E
On a related note, I spoke to Vector concerning the equipment which was
suggested for cleaning on the PG&E system. It is as follows:
2 scrubbers, some underground C/S piping, filter separator, horizontal tank,
2-10.84 drip locations
The Vector proposal for mobilization, demobilizataion and cleaning the above
PG&E equipment will be approx. $ 75, 000.
I approached Vector about the pipeline cleaning between our M/S and their
C/S. They quoted a turn key price of $34,000. Because this piping belongs
to Transwestern, we should contract this cleaning ourselves. If the decision
is made to address this cleaning, I think we would want to have it done
during the same time period as the PG&E cleaning activities. I will also
need some lead time to notify Vector and determine an appropriate methodology
to be used. Vector apparently has an approved methodology for cleaning pipes
to 36".
One additional note, apparently PG&E has discovered PCBs in their gas
compressors. In wipe samples taken of the internal compressors PCBs were
found at regulated levels..... | {
"pile_set_name": "Enron Emails"
} |
Hey, are you at work today? | {
"pile_set_name": "Enron Emails"
} |
Bob Williams has informed me that Christopher Carr represented the GOM
against Enron. | {
"pile_set_name": "Enron Emails"
} |
Please find attached information?for our next two courses and workshops:?
Energy Derivatives:? Pricing and Risk Management and
Weather Derivatives, which will be conducted in Houston and in London in Feb
/ March 2001.? Instructors will be Dr Les Clewlow and Dr Chris Strickland.
?
Because the course requires intense interaction, the courses will be?limited
to a maximum of 15 people, so early registration is encouraged.
?
If you require further information, or would like to register for either or
both?courses, please contact me via this email or our web site,?www.
lacimagroup.com
- Energy.pdf
- weather.pdf | {
"pile_set_name": "Enron Emails"
} |
I'm attaching the letter we drafted for the CEOs to send to Davis and the top
six legislators:
Jennifer Thome
05/29/2001 03:54 PM
To: Richard Shapiro/NA/Enron@Enron
cc: Janel Guerrero/Corp/Enron@Enron, Jeff Dasovich/NA/Enron@Enron (bcc: Karen
Denne/Corp/Enron)
Subject: CA materials Ken used
Rick:
I have attached the first "Solutions Document" we developed several weeks ago
in advance of a trip Ken was making to CA.
Below is a message with links to the more recent documents Ken used.
Please let me know if you have any questions.
Jennifer
----- Forwarded by Jeff Dasovich/NA/Enron on 05/21/2001 10:56 AM -----
Jeff Dasovich
Sent by: Jeff Dasovich
05/21/2001 10:17 AM
To: Linda Robertson/NA/Enron@ENRON, Richard Shapiro/NA/Enron@Enron,
[email protected], Janel Guerrero/Corp/Enron@Enron, Paul
Kaufman/Enron@EnronXGate, Daniel Allegretti/NA/Enron@Enron, Howard
Fromer/NA/Enron@Enron, Susan M Landwehr/NA/Enron@Enron, [email protected],
James D Steffes/NA/Enron@Enron
cc:
Subject:
On the call on Friday, Linda asked if we could distribute materials
developed/used recently in California regarding the crisis and solutions to
try to resolve it. Attached are:
A "backgrounder" provided to the business leaders that Ken Lay met with last
week
A power point presentation that is a "higher level" discussion of the more
detailed "backgrounder."
If I missed anyone, please forward along. If anyone has any questions, give
me a call at 415.782.7822.
Best,
Jeff | {
"pile_set_name": "Enron Emails"
} |
--- Automatic Notification System ( Request #: ECTH-4UMT24 )
Requested For: John Griffith
Requested By: Ina Rangel
The installation of the equipment (see below) has been completed.
EN 800 PIII/15GB/128MB/40X/W2K
128MB F/EN 800MHZ INSTALLED IN DESKTOP | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Chris Germany/HOU/ECT on 03/19/2001 12:17
PM ---------------------------
"Jon Maybray" <[email protected]> on 03/19/2001 10:55:22 AM
To: [email protected]
cc:
Subject: Web Site Authorizarions
Per your request:
Chris Germany ph. 713-853-4743
User Name: GERMANYC Password: TP303MAR
Tracy Wood ph. 713-345-3783
User Name: WOODT Password: SIMON
Meredith Homco ph. 713-853-7865
User Name: HOMCOM Password: BAILEY
Clarissa Garcia ph. 713-853-7189
User Name: GARCIAC Password: PEANUT
Robert Allwein ph. 713-853-1901
User Name: ALLWEINR Password: LOGAN
User Rights (for all):
Capacity Release
Flowing Gas
Invoice
Nominations
Reports
Let me know if anything needs changed or corrected. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Susan W Pereira/HOU/ECT on 02/22/2001
08:10 AM ---------------------------
"Henk, Robert" <[email protected]> on 02/21/2001 03:55:21 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: March Gas
Susan, have you started buying March gas on Tenn (0)? | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by James Derrick/Corp/Enron on 12/08/2000
07:01 PM ---------------------------
From: AL ALEXANDERSON/ENRON@enronxgate on 12/07/2000 09:15 PM
To: James Derrick/Corp/Enron@ENRON
cc:
Subject: PGE legal report
Jim, I need to apologize and confess I skipped the call this morning because
of an uncontrollable addiction to the Presidential election proceedings.
David Boies and Barry Richards were just too much to pass up. Sorry.
Not much here. We settled the Beaver lease cases at the same price we paid
the other lessors and without any of their attorney fees. Good result. We
have FERC approval of the Sierra sale. SEC looks good for Jan or Feb.
I am working with Richard Sanders and Robin Gibb on defense to the California
class actions.
We have a new offer from BNFL that will be the subject of a conference call
soon. Looks like they will pay us about 75% of our damages to go away.
One new risk is the upcoming cold spell and very high Northwest prices. This
will cost us a lot of money, possibly not recoverable from customers, and may
spread the litigation over high prices to the Northwest. This could develop
as a risk to the Sierra sale in the extreme, but right now appears manageble.
More on this as it develops. The Enron litigation team is here on Monday and
we will cooperate on strategy and resources as prudent.
Finally, we have received a settlement offer on the Grant County case that
looks good and we are pursuing it. Al. | {
"pile_set_name": "Enron Emails"
} |
Hey -
Are you guys boycotting CAISO energy?
Kate
---------------------- Forwarded by Kate Symes/PDX/ECT on 04/10/2001 12:56 PM
---------------------------
From: Sharen Cason 04/10/2001 12:37 PM
To: Kate Symes/PDX/ECT@ECT
cc: Kimberly Hundl/Corp/Enron@Enron, Amy Smith/ENRON@enronXgate
Subject: corrections
Hello!
These deal have NP/SP delivery points with firm energy.
576522
576512
576523
576517
576513
and 576511, but this one is also the wrong CP name. Reliant HLP doesn't
trade in the west. I think it should be Reliant Energy Services.
Thanks! | {
"pile_set_name": "Enron Emails"
} |
Friends...
Chris Bartlett at Harvard presented (last week) the 2 most recent Enron cases he wrote to the "Harvard Program for Global Leadership". This is an Exec Ed program for CXO's and Senior management from throughout the world. Chris called me today to say that the cases received outstanding reviews, and that the largely international CXO audience was both knowledgeable about, and very 'pro-Enron'!
Best!
--Christie. | {
"pile_set_name": "Enron Emails"
} |
How big of an adjustment can you make as a percentage and are you guys
looking at that adjustment? OR, are you letting the buyer know this option
exists and you just hope its not your problem by then (that's my guess)?
[email protected] on 06/20/2000 02:53:42 PM
To: " - *[email protected]" <[email protected]>
cc: " - *[email protected]" <[email protected]>
Subject: Re: CGAS Storage
Yes, we can adjust by 10/15. If we add, must pay retro to 4/1 and if reduce,
we
may not get any $ back.
[email protected] on 06/20/2000 02:13:20 PM
Please respond to [email protected]
To: Jeffrey Porter/CES/ColumbiaGas@COLUMBIAGAS
cc: [email protected]
Subject: CGAS Storage
Does CES have the ability to adjust the storage MSQ in Sep or Oct? | {
"pile_set_name": "Enron Emails"
} |
First of all, this is a brand-new contract, not a modification of one that
used to be IT.
It's for LFT space that we have posted according to our usual procedure. A
receipt point has now been specified: Bloomfield Compressor. Our tariff
allows us to cancel LFT up to 10 days a month, but it also provides that the
parties can agree that the number of days can be fewer, so Sempra negotiated
us down to only one day. TK worked with Darrell Schoolcraft on this and they
determined this would be acceptable from an operational standpoint.
Scheduling will happen pursuant to the LFT priority set forth in our tariff.
I left a message for you just now; call when you have a minute.
Drew Fossum
11/19/2000 06:32 PM
To: Susan Scott, Mary Kay Miller/ET&S/Enron
cc: Mary Darveaux/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON
Subject: Re: TW Negotiated Rate Filing
Susan, MKM's got some good questions about this. I'm still nervous as a cat
about the deals, so please give me a call Mon. AM and let me know what you
know about the scheduling priority and how it has changed now that this is an
LFT deal. DF
Mary Kay Miller
11/19/2000 07:39 AM
To: Mary Darveaux/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON
cc:
Subject: Re: TW Negotiated Rate Filing
We really do need to understand the scheduling of this, if alternates
haven't been scheduled, IT are and now an LFT--- seems a little
questionable, so we need to understand the answer. Also without knowing the
receipt point how do we know the deal can be done as LFT?? MK
Mary Darveaux
11/16/2000 05:34 PM
To: Mary Kay Miller/ET&S/Enron@ENRON
cc:
Subject: TW Negotiated Rate Filing
I forgot to add that this is an LFT.
---------------------- Forwarded by Mary Darveaux/ET&S/Enron on 11/16/2000
05:18 PM ---------------------------
Mary Darveaux
11/16/2000 04:50 PM
To: Glen Hass/ET&S/Enron@ENRON, Barbara Bischoff/ET&S/Enron@ENRON
cc: Mary Kay Miller/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON
Subject: TW Negotiated Rate Filing
Alas- a negotiated Rate Filing with a few days notice!!!!
TK has done it again Negotiated Rate deal with Sempra
December 1 thru December 31
Rate $1.00
10,000/day
Receipt Point ____? (to be provided)
Delivery Point PG&E Topock
I will prepare the filing for November 30th. Barb, please add to our filing
log. | {
"pile_set_name": "Enron Emails"
} |
__________________________________________________
Do You Yahoo!?
Send FREE video emails in Yahoo! Mail!
http://promo.yahoo.com/videomail/ | {
"pile_set_name": "Enron Emails"
} |
Attached are the proposed letter to employees and response statement for any
media inquiries. Your comments and approval would be appreciated. FYI, we
have not had any more inquiries about Sanjay over the past two days and will
not use either of these until you tell us to proceed.
John | {
"pile_set_name": "Enron Emails"
} |
The 2001 Global Technology costs have been finalized. As communicated in
mid-October, IT operating and development costs have increased relative to
2000 due to Enron's tremendous growth, e-commerce strategies, and expanded IT
services. Please find below a summary of the charges specific to your
business unit for IT Infrastructure, IT Development, and IT e-Commerce
initiatives:
2001 Plan
IT Infrastructure $ 6,594
IT Development $
IT e-Commerce $
$ 6,594
Attached please find the supporting detail for each of the major IT areas.
You will note the allocations include current year operating costs, as well
as, depreciation for prior IT capital expenditures.
IT Infrastructure includes services provided by the following groups:
Application Integration
Change Management
Enterprise Command Center
Enterprise Server
Market Data
Remote Systems
Messaging
Security
Data Center Facilities
Data Communications
Voice Communications
Desktop Support
Executive Support
Hardware Support
Remote Support
Trader Support
Resolution Center
Architecture
The costs associated with these groups will be billed based on the provided
plan amounts, with the exception of specific voice and data services which
will be billed based on actual usage. Adjustments for variances to plan will
be made as applicable. The actual usage services include WAN links, long
distance, and market data feeds. An estimate has been provided for these
services; however, as these are costs which are controllable at the BU level,
each BU should review for reasonableness.
IT Development includes services provided by the following groups:
Front Office System Development/enhancement
Corporate System Development
Energy Operations System Development/enhancement
Intranet/Extranet Development
Market Intelligence
The costs associated with these groups will be billed based on the provided
plan amounts, with the exception of specific new development activity which
will be billed based on actual costs. Adjustment for variances to plan will
be made as applicable.
IT e-Commerce includes services for the development, operation and
enhancement of Enron's web-based trading platforms. The costs associated
with these groups will be billed based on actual costs allocated in
accordance with applicable service agreements.
Please contact Mike Patrick or Elise Clark if you have questions.
Thank you ! | {
"pile_set_name": "Enron Emails"
} |
You haven't forgotten about the credit worksheet? SS | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: [email protected]@ENRON
Sent: Thursday, January 31, 2002 8:01 PM
To: [email protected]
Subject: Looking for the Value in Envirnomental Strategies - CERA Private Report
Title: Beyond Incrementalism: Strategy Assessment
URL(s):
http://www.cera.com/eprofile?u=35&m=2969;
***********************************************************************
LOOKING FOR THE VALUE IN ENVIRONMENTAL STRATEGIES
Corporate leaders often found it difficult to determine if environmental
strategies are paying off. As a broader set of corporate stakeholders
influences the shape of environmental strategy, corporate leaders regularly
encounter conflicting evaluations of their performance and frequently lack the
evidence to justify changes in strategy.
* Increasing shareholder value is the ultimate success factor but corporations
cannot easily demonstrate a direct link between how an environmental strategy
is implemented and shareholder value.
* Corporations are searching for proxy indicators that often blend the
quantitative and the intuitive from both internal and external sources.
* Recognizing that a broader set of evaluation tools are required reduces the
frustration of searching for the perfect performance measure and, in the long
term, improves assessment efforts.
**end**
Follow above URL for complete Private Report (12 printed pages).
E-mail Category: Private Report
CERA Knowledge Area(s): Environmental Strategy
*****************************************************************************************
CERAWeek2002 - February 11-15, 2002 - 21st Annual Executive Conference and
Related Events REGISTER ONLINE TODAY AT: http://www.cera.com/ceraweek
** Two- and Four-day Passes Available
** Special Enrollment Programs
** Partnership Opportunities
** CERAWeek Online Premium Access
*****************************************************************************************
To make changes to your cera.com profile go to:
http://www.cera.com/client/updateaccount
Forgot your username and password? Go to:
http://www.cera.com/client/forgot
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
Questions/Comments: [email protected]
Copyright 2001. Cambridge Energy Research Associates | {
"pile_set_name": "Enron Emails"
} |
Paulette,
It's not Enron's intention to have Calp fund the OPT 60 payment. Enron
would like for Calp to release the capacity in Enron's name during the
winter period, and this would send the bills directly to Enron and
eliminate funding by Calp and reimbursement of Enron to Calp. We can look
at this again next winter. I'm not sure why there was a delayed payment
once Calp gave Enron the bill a month ago. I'll ask Mark Feldman about wire
transfers.
Thanks again for your patience.
[email protected] on 03/23/2000 05:45:18 PM
To: [email protected]
cc: [email protected], [email protected],
[email protected], [email protected],
[email protected], [email protected],
[email protected]
Subject: Re: Calp Payments
Joan,
The deal with CES was that the invoice would be paid upon receipt. It was
never
CALP's intent to fund the OPT 60 payment. As requested, I will faxed
February's
bill to Robin. Since the January payment is so late, could you have
January and
February's payments wire transferred to CALP's account?
Thanks!
Paulette
[email protected] on 03/23/2000 06:08:57 PM
To: Roman Bakke/EME@EME, Paulette Heuer/EME@EME
cc: [email protected], [email protected],
[email protected],
[email protected], [email protected],
[email protected]
Subject: Calp Payments
Roman and Paulette,
Sorry for the delay. January's check will be sent out tomorrow, Friday
March 24th. As soon as Mark Feldman (Enron payment God) receives February's
bill, he can pay this one too.
Thank you for your patience during this transition. | {
"pile_set_name": "Enron Emails"
} |
Ok -good . Thanks
-----Original Message-----
From: Cantrell, Rebecca W.
Sent: Friday, August 31, 2001 10:28 AM
To: Tholt, Jane M.
Subject: RE: Turnback
They are going to send out an e-mail to all parties requesting that anyone who wants to turn back capacity should so advise them and at that time select whether or not their identity should be disclosed. The confidentiality of identity was the subject of our discussion yesterday, not whether or not we wanted to do it.
-----Original Message-----
From: Tholt, Jane M.
Sent: Friday, August 31, 2001 10:24 AM
To: Cantrell, Rebecca W.
Subject: RE: Turnback
Becky call me on this. I want them to know that we are willing to turn back the capapcity and put in the numbers and they can share the numbers. We just don't want them to name Enron.
-----Original Message-----
From: Cantrell, Rebecca W.
Sent: Friday, August 31, 2001 10:10 AM
To: '[email protected]'
Cc: Tholt, Jane M.
Subject: Turnback
Importance: High
Bill: This is to advise you that, contrary to our discussion yesterday, ENA does not want to disclose its desire to turn back our firm capacity on El Paso's system at this time. | {
"pile_set_name": "Enron Emails"
} |
VK ([email protected]) sent you this article from money.com.
=====
These five electric utilities are undervalued and under-appreciated
by analysts. But they offer superior long-term returns.
http://www.money.com/money/depts/investing/sivy/archive/010518u.html
Click the above URL to read the HTML version of this story
By Michael Sivy
The United States is experiencing a small-scale energy crisis, with
soaring oil prices and shortages of electricity on the West Coast.
The prospect of urgent exploration has boosted the shares of oil and
gas producers, as well as the stocks of oil-service companies.
Similarly, the shares of companies that build electrical generating
plants and oil refineries have also been strong (I recently featured
Fluor, one of those companies -- see
" Construction project ").
But other sectors -- including electric utilities -- have been hurt
by all the energy turmoil. At the simplest level, many electric
companies rely on oil and gas for fuel. But they have also suffered
from fears that the West Coast power shortages could spread to other
parts of the country. In fact, the Dow Jones Utilities index is down
slightly since April, even though the Dow Industrials are up more
than 15 percent.
Nonetheless, electric companies remain a worthwhile choice for many
investors. Including utilities in a portfolio of growth stocks
reduces volatility. Conservative investors will also appreciate the
income that utilities provide -- and the benefits of rising
dividends. When you buy a bond or a preferred stock, you lock in a
certain level of return. But most electric utilities offer dividend
growth -- even 5 percent and 6 percent a year will keep you ahead of
inflation and eventually outpace the return on bonds (see
" Selecting
stocks for income ").
One of my top utility picks over the past year has been
Duke Energy ,
an electric company based in the Carolinas. In addition to
having a well-run local business, Duke has profited enormously
because one of its subsidiaries provides power to the California
market where electricity prices are soaring. As a result, the stock
has gained more than 50 percent since I first recommended it last
summer. I still think Duke has attractive long-term prospects, but
obviously it's not as good a buy as it was a year ago.
Where are today's best values in the electric utility sector? For the
answer, I turned to the Leuthold Group, a value-oriented investment
advisory firm in Minneapolis that regularly does a quantitative
screen for stocks that are undervalued because they are out of favor.
Of the 53 stocks the most recent screen identified, 10 are electric
utilities. Of those, I've winnowed out five that have solid finances
and offer projected earnings growth of 5 percent or more over the
next five years. In addition, these electric companies have modest
P/Es, based on this year's estimated results.
The five include
DTE Energy
at $44.70 a share. The parent
company for Detroit Edison is in the process of acquiring MCN Energy,
a Michigan gas company, which could boost the combined firms'
long-term earnings growth. In the meantime, DTE pays a 4.6 percent
yield and trades at a 12.5 P/E.
FirstEnergy ,
the holding company
for Ohio Edison, is in the middle of a complicated attempt to acquire
GPU, and uncertainty about the deal has depressed the stock. Whether
it goes through or not, at $29.90 a share, FirstEnergy offers a 5.1
percent yield and a 10.5 P/E.
OGE Energy
is the holding company for Oklahoma Gas & Electric.
At $22, the stock offers a 6 percent yield and an 11.7 P/E.
Pinnacle West Capital ,
parent of Arizona Public Service is expanding its
generating capacity in the Southwest. At $49.50 a share, this
growth-oriented utility pays a 3 percent yield and trades at a 13 P/E. Finally,
Potomac Electric
supplies power to Washington
D.C. and the surrounding area. The company is acquiring the Delaware
utility Connectiv, in a move that should enhance long-term returns.
At $22.30 a share, Potomac Electric carries a 4.4 percent yield and
an 11.9 P/E and should grow as long as Washington keeps expanding.
Originating IP address: 152.163.207.213 | {
"pile_set_name": "Enron Emails"
} |
fyi
---------------------- Forwarded by Kay Mann/Corp/Enron on 02/27/2001 08:38
AM ---------------------------
From: Suzanne Adams@ECT on 02/26/2001 04:35 PM
To: Sheila Tweed/HOU/ECT@ECT, Ben Jacoby/HOU/ECT@ECT, Lisa
Bills/Enron@EnronXGate, Roseann Engeldorf/Enron@EnronXGate, Scott
Dieball/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, [email protected],
[email protected], [email protected], [email protected],
[email protected]
cc:
Subject: Weekly GE Conference Call
The GE conference call will take place at its scheduled time of 1:30 p.m. CST
on Wednesday, February 28, 2001.
Dial In: 1-888-285-4585
Participant: 536220
Host: 121970 (Sheila)
For those of you in Houston, EB38C1 has been reserved. | {
"pile_set_name": "Enron Emails"
} |
I won't be able to attend the forum since I am travelling but do have a
suggestion that would make TAP a bit more attractive. When a traveller is
placed on a "wait list" the agency should check back with the provider
regularly and often to see if the wait can be cleared. If you wait for the
provider to get back to you, as appears to be TAP's policy, the chances are
significantly reduced since the provider will almost invariably clear the
person on the phone before anyone on the list. Other agents have done this
for me, I have done this for myself, and it works. | {
"pile_set_name": "Enron Emails"
} |
FYI...
Laura
----- Forwarded by Laura Luce/Corp/Enron on 05/15/2001 10:08 AM -----
Karen Buckley/ENRON@enronXgate 05/14/2001 05:27 PM To: Laura Luce/Corp/Enron@Enron cc: Jeanie Slone/ENRON@enronXgate Subject: A&A - ENA
Laura
From the A&A Interns allocated to ENA, the below have been assigned to your group. The resumes for your records have been sent to you and your office will be contacted by the A&A Program with regard to new hire process set up.
Kind regards,
Karen
EWS-HR
x54667.
Intern Associates Allocated To Lead Supervisor Start Date
Molina Jose ENA Luce Laura Luce Laura 6/4/2001
Summer Analysts Allocated to Lead Supervisor Start Date
Mayor Philip ENA Luce Lara Luce Lara 5/21/2001 | {
"pile_set_name": "Enron Emails"
} |
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