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I have asked Bob Superty, Kim Theriot and Mechelle Stevens to attend. I
don't have confirmation yet on whether or not all three will be able to
attend. I thought that if asked three, that this should work on one of their
schedules. I will let you know later who will attend. I will be out of the
office that day. --sally
From: Greg Piper/ENRON@enronXgate on 04/23/2001 08:06 AM
To: Sally Beck/HOU/ECT@ECT
cc:
Subject: FW: Lite Bytz RSVP
Are you or a designate going to this?
GP
-----Original Message-----
From: Enron Announcements/Corp/Enron@ENRON
[mailto:[email protected]] On
Behalf Of Lite Bytz@ENRON
Sent: Sunday, April 22, 2001 8:10 PM
To: ENW-Employees_Houston@ENRON
Subject: Lite Bytz RSVP
This week's Lite Bytz presentation will feature the following APPZ speaker:
Hal Elrod
CommodityLogic
Thursday, April 26, 2001
If you have not already signed up, please RSVP via email to
[email protected] by the end of the day Tuesday, April 24, 2001.
*Remember: this is now a Brown Bag Event--so bring your lunch and we will
provide
http://home.enron.com:84/messaging/revisedhalelrod.ppt | {
"pile_set_name": "Enron Emails"
} |
Evidently Ben told Chris to call. This is an on going problem.
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/23/2001 12:35
PM ---------------------------
From: Chris Booth 03/23/2001 11:47 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: Re: NW conference call
No. The primary focus of the call today is to get the exclusivity agreement
executed. I think NorthWestern is getting more comfortable with the
structure of the deal. If all goes well with the exclusivity agreement, we
might go over a few contract points with NorthWestern.
Chris.
P.S. I apologize for talking to outside counsel without your permission. I
do not mean to step on any toes, I was simply responding to Ben's
request....you know how demanding he can be. I hope you dad is doing well!
Kay Mann
03/23/2001 11:34 AM
To: Ben Jacoby/HOU/ECT@ECT, Chris Booth/NA/Enron@Enron, Jeffrey T
Hodge/HOU/ECT@ECT, [email protected]
cc:
Subject: NW conference call
Will there be a "pre-call" for the Enron team?
Kay | {
"pile_set_name": "Enron Emails"
} |
Sam,
This is the file for TC. Please keep in mind it's the third article in a
series.
Vince
Enron North America Corp.
From: William Smith @ ENRON 07/31/2000 09:10 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Re: Technical Corner
Very well! Here is the text of Brad's bio piece.
-----------------
I began working for the Research Group here at Enron in mid-May as a summer
intern. I started work back-testing storage models immediately after the
Spring semester, and I have enjoyed every minute since then.
I am pursuing a B.S. and a professional Masters degree in Chemical
Engineering at Rice University, and plan to graduate with both degrees next
May. I went to a small high school in Fort Worth, and Rice was the perfect
place to go from there because of its size and location. I have taken
primarily chemistry, biochemistry, and engineering courses while at Rice, and
during the past summers I have worked in chemistry research labs in Fort
Worth.
Outside of work and school, I am an avid baseball fan and appreciate good
music and cooking (though my cooking can at times be unpredictable.) I have
grown to love Houston as a city, and though I,ll never concede that it is
better than my hometown of Fort Worth, it has been a great place in which to
go to school and work.
Since my education thus far has been somewhat limited to Chemical
Engineering, I have valued this opportunity to work in the Research Group,
both as a chance to use engineering techniques that I have learned, and to
learn more about the business world than I would have by simply taking
economics classes. I am not certain what I will do upon graduating from
Rice, but my experience here has taught me that my opportunities are much
greater and better than I had previously thought.
-----------------
Sam
Vince J Kaminski@ECT
07/31/2000 08:58 AM
To: William Smith/Corp/Enron@ENRON
cc:
Subject: Re: Technical Corner
Sam,
I asked Stinson to review it. U should have it in 15 minutes.
Please, shoot me the column.
Vince
Enron North America Corp.
From: William Smith @ ENRON 07/31/2000 08:44 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject: Technical Corner
Good Morning, Vince!
Please pardon the brief interruption, but how is the article coming?
Sam | {
"pile_set_name": "Enron Emails"
} |
Hi Louise,
As requested, attached is a file that contains June YTD Originations by Originator.
We've arranged the file in the following sorts:
? by team
? by Originator (sorted alphabetically)
? by Originator (sorted by value)
? Top 10 Overall Originators by Value
? Top 10 Originators- Gas
? Top 10 Originators- Power
An item to note is that not all deals had a related individual's name (such as Enduser)- we left the listing as it appears in the Risk Book in these cases.
We'll send you an update if the DPR amounts move (the DPR isn't final yet.)
Please let me know if you need any additional information! | {
"pile_set_name": "Enron Emails"
} |
User ID: enrondlr
PW: bnaweb22
-----Original Message-----
From: "BNA Highlights" <[email protected]>@ENRON [mailto:IMCEANOTES-+22BNA+20Highlights+22+20+3Cbhighlig+40bna+2Ecom+3E+40ENRON@ENRON.com]
Sent: Thursday, August 09, 2001 11:13 PM
To: BNA Highlights
Subject: Aug. 10 -- BNA, Inc. Daily Labor Report
______________________________
DAILY LABOR REPORT
Highlights & Table of Contents
August 10, 2001
______________________________
ISSN 1522-5968
Registered Web subscribers can access the full text of these
articles by using the URL link supplied.
Information about becoming a subscriber or signing up for a
FREE Web trial is available at http://web.bna.com or call
BNA Customer Relations at 1-800-372-1033, Mon. - Fri. 8:30
am - 7:00 pm (ET).
__________
HIGHLIGHTS
__________
AIRLINE ILLEGALLY CONSIDERED FMLA LEAVE IN FIRING, NINTH
CIRCUIT SAYS
An airline that fired a passenger service representative
based in part on the 16 sick days she took during the early
months of 1996 violated the Family and Medical Leave Act by
impermissibly considering FMLA-protected leave in making the
termination decision, the Ninth Circuit rules ("Bachelder
v. America West Airlines Inc., "9th Cir., No. 99-17458,
8/8/01).
Reversing summary judgment for America West Airlines and
ordering summary judgment to plaintiff Penny Bachelder, the
Ninth Circuit rules that the airline failed to inform its
staff of the method it used to calculate the 12-month period
in which employees are entitled to take 12 weeks of FMLA
leave. Where an employer fails to notify employees of its
method for calculating leave eligibility, the method that is
most beneficial to the plaintiff should be used, Judge
Berzon writes. Applying a "calendar method," the court
determines that the leave that Bachelder took in 1996 was
protected under the act. . . . Page AA-1, Text E-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r9h4_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4e2f0_
RNS' REFUSAL TO VOLUNTEER FOR OVERTIME REQUIRED NOTICE, NLRB
SAYS
The New York State Nurses Association violated the National
Labor Relations Act by failing to issue a 10-day strike
notice when it directed its members to refuse to volunteer
for overtime at Mount Sinai Hospital, the National Labor
Relations Board rules in a 2-1 decision ("New York State
Nurses Ass'n, "334 N.L.R.B. No. 103, 7/27/01 [released
8/1/01]).
Overturning a decision by an administrative law judge, the
majority finds that nurses who refused to volunteer for
overtime work at the union's request and those who refused
assigned overtime were engaged in a concerted refusal to
work. The majority makes it clear that it is not suggesting
that employees could not concertedly refuse to work
voluntary overtime. Rather, it says, such a refusal must be
preceded by the issuance of a 10-day notice if a union is
responsible for the action. . . . Page A-1, Text E-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m3f8_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4a0v0_
FOUR CURRENT NLRB MEMBERS DISCUSS MAJOR RULINGS, JUDICIAL
CRITICISM
The four current members of the National Labor Relations
Board discuss their views on past and future issues before
the board, criticism by the appeals courts, and the board
during the Clinton era during a session at the American Bar
Association's annual meeting.
The board's decisions in "M.B. Sturgis Inc." and "Jeffboat
Division, American Commercial Marine Service Co., "
involving temporary workers give rise to complicated
bargaining situations, "but I think collective bargaining is
vibrant enough, if done in good faith, to achieve results,"
NLRB Chairman Hurtgen says. Part of the difficulty in
situations involving temporary workers is created by the
unions and employers themselves trying to decide whether
including or excluding temps is to their side's advantage,
he adds.
Hurtgen says the board's unanimous ruling in "Lee Lumber
and Bldg. Material Corp." "reflects a good result of board
decisionmaking" in which the board tried to fashion "an
easy-to-use rule" in an area that involves "unstable,
difficult factual analysis." He speculates that future
boards may fashion similar rules in other situations where
good faith bargaining is ordered.
When asked about a spate of recent D.C. Circuit decisions
that have been rather critical of the board's
decisionmaking, Member Liebman observes that any board
member needs to develop either a thick skin or a sense of
humor. "I'm concerned by the disdain and contempt for board
decisionmaking" shown in certain appeals court rulings,
Liebman adds. . . . Page C-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3k9w0_
NMB DISMISSES AMFA PETITION FOR UNITED MECHANICS
The National Mediation Board dismisses a petition from the
Aircraft Mechanics Fraternal Association, an independent
union seeking to replace the International Association of
Machinists as the bargaining agent for more than 15,000
United Airlines mechanics and related employees.
AMFA's petition for a representation election was dismissed
"due to an insufficient showing of interest" among the UAL
employees to support the independent union, the NMB says.
Action on the AMFA petition opens the way for resumption of
contract talks between United and IAM District 141-M for the
mechanics group. . . . Page A-9, Text E-19
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4t6t1_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m6q3_
POWELL UPDATES U.S.-MEXICAN GROUP'S IMMIGRATION DISCUSSIONS
Secretary of State Powell says that the U.S.-Mexican working
group studying immigration issues has begun exploring "some
specifics with respect to a temporary guestworker program,"
but that it is "in no hurry" to issue recommendations on the
matter. Speaking to reporters after a meeting with Mexican
officials at the State Department, Powell stresses that
establishment of a new temporary worker program has to be
"done in a careful way, a way that will be seen as fair and
equitable by ... the people of both nations."
The group is looking to fashion a system that "is grounded
in reality and the needs of our economy, one that doesn't
hurt U.S. workers," he says. The program "will rest on a
carefully worked-out partnership between the sending and
receiving countries, one that recognizes also the
contributions that undocumented Mexicans are making in the
United States and that brings together willing" workers and
employers.
A new guestworker program is one of a number of immigration
reforms U.S. and Mexican officials have been discussing
since President Bush and Mexican President Vicente Fox
agreed last February to establish the working group. . . .
Page A-8
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4q3j4_
STAGE SET FOR CONFEREES TO ADDRESS PATIENTS' RIGHTS
LEGISLATION
When Congress returns in September from a month-long recess,
the ongoing fights over how to craft provisions expanding
patients' access to legal remedies will continue, but the
battleground will shift to a conference committee of House
and Senate representatives.
Predictions vary on what the outcome of a House-Senate
managed care conference will be. The Senate-passed
legislation (S. 1052) provides far more latitude for
patients to sue their health plans than that afforded in the
House bill (H.R. 2563), which passed with the approval of
the Bush administration. Bush has said he would veto the
Senate-passed bill. . . . Page B-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p1m2w9_
______________
TODAY'S EVENTS
______________
PRODUCER PRICES: July data on producer prices released, 8:30
a.m., Labor Department.
________________
ALSO IN THE NEWS
________________
UNEMPLOYMENT INSURANCE: Jobless claims for unemployment
insurance benefits increase by 33,000 to 385,000 in the week
ended Aug. 4, the Labor Department's Employment and Training
Administration reports. . . . Page D-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4d6x6_
AFFIRMATIVE ACTION: Toyota announces plans to create new
career opportunities for minorities as dealership managers
and service technicians and pledges $7.8 billion over the
next 10 years to back its diversity commitment. . . . Page
A-8
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m8c1_
SAFETY & HEALTH: Judge Emmet G. Sullivan of the U.S.
District Court for the District of Columbia lifts a
temporary injunction blocking the Department of Labor's
processing of black lung benefit claims after dismissing an
industry challenge to new rules that revise the compensation
program for miners and their families. . . . Page A-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r2q4_
____
TEXT
____
LABOR LAW: NLRB decision in "New York State Nurses
Association". . . . Page E-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4a0v0_
FMLA: Ninth Circuit's decision in "Bachelder v. America West
Airlines Inc. ". . . Page E-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4e2f0_
AIRLINES: National Mediation Board decision dismissing AMFA
petition for representation election among United Airlines'
mechanics. . . . Page E-19
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m6q3_
_________________
TABLE OF CONTENTS
_________________
LEADING THE NEWS
FMLA
America West's firing of a passenger service agent based
in part on the 16 sick days she took during the early
months of 1996 violated the Family and Medical Leave Act
by impermissibly considering FMLA-protected leave in
making the firing decision, the Ninth Circuit rules . .
. Page AA-1, Text E-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r9h4_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4e2f0_
____
NEWS
____
AFFIRMATIVE ACTION
U.S. subsidiary of Toyota Motor Corp. announces plans to
create new career opportunities for minorities as
dealership managers and service technicians and pledges
$7.8 billion over the next 10 years to back its diversity
commitments . . . Page A-8
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m8c1_
AGE DISCRIMINATION
Group of former Allstate Insurance Co. employees sue
Allstate for age bias and breach of fiduciary duty in
connection with a 1999 reorganization in which Allstate
terminated 6,400 agents . . . Page A-6
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4f8m3_
AIRLINES
NMB dismisses a petition from the Aircraft Mechanics
Fraternal Association, an independent union seeking to
replace IAM as the bargaining agent for more than 15,000
United Airlines mechanics and related employees . . .
Page A-9, Text E-19
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4t6t1_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m6q3_
APPAREL
Article regarding the AFL-CIO placing New Era Cap Co. on
its boycott list, appearing at 151 DLR A-5, 8/7/01,
incorrectly listed the Web site for the United Students
Against Sweatshops. The correct cite is
http://usasnet.org/campaigns/newera/report.shtml . . .
Page A-12
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3x8f4_
ERISA
Seventh Circuit finds no violation of the Employee
Retirement Income Security Act when an employer changed
life insurance carriers and discontinued the coverage of
an employee on disability benefits . . . Page A-6
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3k8v2_
IMMIGRATION
Secretary of State Powell says the U.S.-Mexican working
group studying immigration issues has begun exploring
"some specifics with respect to a temporary guestworker
program," but it is "in no hurry" to issue
recommendations on the matter . . . Page A-8
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4q3j4_
LABOR LAW
New York State Nurses Association violated the NLRA by
failing to issue a 10-day strike notice when it directed
its members to refuse to volunteer for overtime at Mount
Sinai Hospital, a divided NLRB panel rules . . . Page
A-1, Text E-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m3f8_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4a0v0_
NAFTA
Mexican government is concerned about how migrant farm
workers from Mexico are being treated in the United
States, a Mexican government official says at a hearing
in Yakima, Wash. . . . Page A-5
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4e2c3_
PENSIONS
IRS releases Form 5308 for certain employee retirement
plans to use when requesting approval for intended
changes to the plan year or changes to the trust year . .
. Page A-4
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4k6p4_
RELIGIOUS DISCRIMINATION
Acting on a suit brought by a New Jersey college
professor who is an Orthodox Jew, the Third Circuit rules
for the first time that a hostile work environment claim
can be based on religious bias . . . Page A-2
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4f7w5_
SAFETY & HEALTH
Widow of a former nuclear employee receives the first
check from a new Department of Labor program designed to
compensate disabled nuclear weapons employees and their
survivors . . . Page A-3
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4d3v1_
SAFETY AND HEALTH
Federal judge lifts a temporary injunction blocking the
Labor Department's processing of black lung benefit
claims after dismissing an industry challenge to new
rules revising the compensation program for miners and
their families . . . Page A-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r2q4_
STATE LAWS
California Gov. Gray Davis (D) signs bills that increase
penalties for wage violations against farm workers and
allow bond funds to be used to pay awards to farm workers
stemming from violations of state labor laws by farm
labor contractors . . . Page A-4
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4c4p2_
Indiana has adopted a new state employment policy
statement banning discrimination on the basis of sexual
orientation . . . Page A-12
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m3b6_
TEAMSTERS
Independent Review Board, the internal adjudicative body
that oversees anti-corruption efforts at the IBT under a
1989 consent decree, will have a new composition as the
result of a pair of actions by the Justice Department and
a federal judge . . . Page A-10
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4u1q3_
UNFAIR LABOR PRACTICES
Due to an incorrect citation listed on the National Labor
Relations Board decision, the citation in the article
summarizing "Mainline Contracting Corp.", appearing at
153 DLR AA-1, 8/9/01, was incorrect. The correct citation
for the case is 334 N.L.R.B. No. 120 . . . Page A-12
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3y7d9_
___________
LEGISLATION
___________
HEALTH CARE
When Congress returns in September from a month-long
recess, the ongoing fights over how to craft provisions
expanding patients' access to legal remedies will
continue, but the battleground will shift from the floors
of the House and Senate to a conference committee with
members from both chambers . . . Page B-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p1m2w9_
_________________
CONFERENCE REPORT
_________________
ALTERNATIVE DISPUTE RESOLUTION
National Conference of Commissioners on Uniform State
Laws will consider adopting a proposed model "Uniform
Mediation Act" when the organization meets the week of
Aug. 13 . . . Page C-3
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3y6h2_
NLRB
At the ABA annual meeting, the four current NLRB members
discuss a wide range of issues, including their views on
past and future issues before the board, criticism by the
appeals courts, and the board during the Clinton era . .
. Page C-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3k9w0_
_____________
ECONOMIC NEWS
_____________
UNEMPLOYMENT INSURANCE
Jobless claims for unemployment insurance benefits
increased by 33,000 to 385,000 in the week ended Aug. 4,
according to figures released by the Labor Department's
Employment and Training Administration . . . Page D-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4d6x6_
____
TEXT
____
LABOR LAW
NLRB decision in "New York State Nurses Association" . .
. Page E-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4a0v0_
FMLA
Ninth Circuit's decision in "Bachelder v. America West
Airlines Inc." . . . Page E-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4e2f0_
AIRLINES
National Mediation Board decision dismissing AMFA
petition for representation election among United
Airlines mechanics . . . Page E-19
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m6q3_
______________
TABLE OF CASES
______________
Abramson v. William Paterson College of N.J. (3d Cir.) . .
. Page A-2
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4f7w5_
Bachelder v. America West Airlines Inc. (9th Cir.) . . .
Page AA-1, Text E-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r9h4_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4e2f0_
National Mining Ass'n v. Chao (D.D.C.) . . . Page A-11
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r2q4_
NEUMA Inc. v. AMP Inc. (7th Cir.) . . . Page A-6
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p3k8v2_
New York State Nurses Ass'n (N.L.R.B.) . . . Page A-1, Text
E-1
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4m3f8_
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4a0v0_
Romero v. Allstate Ins. Co. (E.D. Pa.) . . . Page A-6
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4f8m3_
United States v. IBT (S.D.N.Y.) . . . Page A-10
http://pubs.bna.com/ip/BNA/dlr.nsf/id/a0a4p4r2q4_
__________
Daily Labor Report (ISSN 1522-5968) Highlights are
published daily by The Bureau of National Affairs, Inc.,
1231 25th St., NW, Washington, DC 20037.
For account information and changes, contact
1-800-372-1033 (M-F, 8:30 am-7:00 pm ET)
To request retransmission or to order a copy of the
summarized article, contact 1-800-452-7773 or e-mail
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For copyright guidelines, go to
http://www.bna.com/corp/copyright.
Copyright (c) 2001 by The Bureau of National Affairs,
Inc. Washington, D.C. 20037. Use of this service is
subject to the terms and conditions of the license
agreement with BNA. Unauthorized access or distribution
is prohibited. | {
"pile_set_name": "Enron Emails"
} |
Please respond to Sivy on Stocks SIVY ON STOCKS from money.com
April 25, 2001
Construction project
The need for aggressive oil exploration and new electrical power plants
should be a bonanza for firms like Fluor that can manage such projects on a
global basis.
By Michael Sivy
It may seem hard to believe today, but back in the 1970s, one of the
hottest stock groups was Construction and Engineering. These C&E firms
managed mega-projects, including oil refineries and pipelines in the Middle
East, and were minting money because of the oil shortage. But during the
past decade, the energy crisis seemed like only a distant memory. And even
the best C&E firms, such as Fluor [FLR], ran into trouble.
For most of the late 1990s, Fluor's earnings were stagnant. The company
over-expanded in 1994 and subsequently began missing its growth targets. As
the problems got worse, the stock fell from a high of $75 a share in 1997
to less than $23 early last year.
To fix these problems, Fluor decided it would be smart to split the company
in half, separating its C&E businesses from its coal-mining operations,
which now trade as Massey Energy [MEE]. Since the split late last year,
Flour has been doing well and appears poised for even better times to come.
But this improved performance has gone unnoticed by many investors because
the division of the company and the shift of its reporting schedule from a
fiscal to a calendar year have made earnings comparisons difficult. In
fact, some research sources have stopped following the stock altogether.
That's a pity because the outlook for energy is better than it's been in a
decade. The scare of higher crude prices should greatly improve prospects
for oil projects, while electricity shortages in California -- and possibly
in other states as well -- will encourage the construction of power plants.
In fact, a joint venture between Duke Energy and Fluor is one of the
world's leading contractors and has the largest U.S. market share for the
construction of natural-gas-fired power plants. Two weeks ago, the
partnership was awarded a contract to help build two power plants in
Massachusetts.
Fluor's share price has climbed more than 50 percent since its
restructuring, and several major brokerages have upgraded the stock to a
"buy" on the strength of Fluor's improved business outlook.
At a current $51 a share, Fluor trades at 26 times this year's estimated
earnings. Profits are projected to gain 18 percent next year and then
continue to grow at a core annual rate of about 15 percent. And those
estimates could easily prove to be too low if the climate for energy turns
out to be more positive in the next five years than it has been in the past
five. And to me, that looks like a pretty good bet.
###
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newsletter or any other Time Inc. online newsletter, please let
us know by e-mailing us at <[email protected]>. | {
"pile_set_name": "Enron Emails"
} |
you betcha baby.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, October 06, 2000 10:02 AM
To: [email protected]
Subject:
hey can you pick me up at my house instead of work. I would rather not
leave my car at work all weekend. | {
"pile_set_name": "Enron Emails"
} |
I will not be able to attend this meeting.
Geynille Dillingham
08/18/2000 02:57 PM
To: Jere C Overdyke/HOU/ECT@ECT, Greek Rice/Corp/Enron@ENRON, Randal
Maffett/HOU/ECT@ECT, Edward Coats/Corp/Enron@ENRON, Amanda K
Martin/HOU/AZURIX@AZURIX, Stephen Schwarz, Joseph Deffner/HOU/ECT@ECT, Brenda
F Herod/HOU/ECT@ECT, Eric Scott/HOU/ECT@ECT, Homer Lin/HOU/ECT@ECT, Robin
Rodrigue/HOU/ECT@ECT, Paul Pizzolato/HOU/ECT@ECT, Kevin Hughes/HOU/EES@EES,
Susan Harrison/HOU/ECT@ECT, Melissa White/Enron Communications@Enron
Communications, Andrea Price/Corp/Enron@ENRON, Michelle
LeBlanc/Corp/Enron@ENRON, Timothy Blanchard/HOU/EES@EES, Benjamin
Markey/HOU/ECT@ECT, Hang Bui/HOU/ECT@ECT, Bryan Hull/HOU/ECT@ECT, Shanna
Husser/HOU/EES@EES, Chad Landry/HOU/ECT@ECT, Mary Perkins/HOU/ECT@ECT
cc: Donna Baker/HOU/ECT@ECT, Donna Hutton/Corp/Enron@Enron, Beth A
Ryan/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON
Subject: LSU TEAM MEETING
Hello LSU Recruiting Team,
You have been chosen to represent and assist in the Fall 2000 recruiting
efforts at Louisiana State University for Enron's Associate/Analyst Program.
We are excited about the upcoming association,and welcome you to the team. We
have arranged a lunch meeting to discuss the details.
Please read the following attachment for information concerning the meeting
time and place. If you will not be able to attend, please r.s.v.p your
regrets.
See you soon!
Recruiter, Geynille Dillingham
Coordinator, Debbie Flores | {
"pile_set_name": "Enron Emails"
} |
LAST CALL for BUSINESS HIGHLIGHTS AND NEWS for this week's EnTouch
Newsletter.
Please submit your news by noon today.
Thanks!
Kathie Grabstald
x 3-9610 | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Energy Market Report [mailto:[email protected]]
Sent: Monday, December 17, 2001 5:18 PM
To: Energy Market Report
Subject: Energy Market Report - 12/17/01
Energy Market Report
Monday, December 17, 2001
*See attached pdf file.
__________________________________________________________
Western Pre-Scheduled Firm Electricity Prices($/MWh)
December 17, 2001 for December 18, 2001
Peak(Heavy)
Low Change High Change
NW/N. Rockies 27.25 -0.25 29.50 1.00
Mid-Columbia 27.25 -0.25 29.50 1.00
COB 30.00 1.00 32.00 1.50
N. California 32.00 2.00 35.25 0.75
Midway/Sylmar NA NA NA NA
S. California 32.00 1.00 35.25 2.75
Mead 31.75 1.75 33.50 0.50
Palo Verde 29.00 0.00 33.75 1.25
Inland SW 29.00 0.00 33.75 0.75
4-Corners 30.00 1.00 32.00 2.00
Central Rockies 27.75 2.50 31.00 4.25
__________________________________________________________
Off-Peak(Light)
Low Change High Change
NW/N. Rockies 17.00 -7.50 24.25 -1.75
Mid-Columbia 17.00 -7.50 24.25 -1.75
COB 23.00 -2.75 24.00 -3.00
N. California 25.75 -0.25 28.40 -0.60
Midway/Sylmar NA NA NA NA
S. California 24.50 -2.50 28.40 0.40
Mead 22.50 -3.00 26.50 -0.50
Palo Verde 22.75 -1.25 27.00 0.25
Inland SW 22.50 -1.50 27.00 0.00
4-Corners 23.75 -1.25 26.50 0.00
Central Rockies 20.00 0.50 23.00 1.75
_________________________________________________________
West Up, But Outlook Bearish
Most peak power prices in the West rose slightly for Tuesday delivery amid
unplanned unit outages and rising spot gas prices. Nonetheless, most
traders said the strength would have been more prominent had it not been for
rain-boosted flows in the Northwest, and near-seasonal temperatures
throughout much of the WSCC. With holiday loads fast approaching and
longer-term weather forecasts calling for a mild end for the month, it was
not surprising that most balance-of-December contracts were on the decline
Monday. Despite a stronger cash market, NYMEX Henry Hub natural gas futures
contracts declined Monday on forecasts calling for near-seasonal
temperatures, as well as some technical selling. January Hub gas shed 16
cents to close at 2.686$/mmBtu, while February fell 14.7 cents to end at
2.761$/mmBtu. Early estimates for Wednesday's AGA inventory report called
for a 20 to 80-bcf draw last week, well below the 158-bcf draw seen a year
ago, and the five-year average draw of 102 bcf. Total U.S. inventories
stand at 3.106 tcf, or 37 percent above last year. "We expect the storage
spread between this year and last to grow considerably in the next few
weeks, because last year we had huge draws due to sustained below-normal
temperatures, something that seems all too unlikely this year," said one gas
trader. On a political note, Representative Joe Barton from Texas announced
the postponement of an electricity deregulation bill before Congress until
February. The busy holiday season was cited as the reason, but most summed
it up to the nervousness from the Enron collapse.
Heavy load energy costs for Tuesday rose only marginally in the Northwest,
while light load goods were seen on the decline. Seasonable temperatures
and recent heavy rains were prime culprits leading to the lackluster daily
market. Peak power at the Mid-Columbia traded from 27.25 to 29.5$/MWh, with
the lowest prices reported out of the gate. Light load goods saw action
anywhere between 17 and 24.25$/MWh, though most trades were done on the high
end of the spectrum, from 22 to 24$/MWh. Flows remained healthy in the
rain-soaked region, with Chief Joseph forecast to see 90 kcfs Tuesday and
Wednesday, 95 kcfs Thursday and Friday, 65 kcfs Saturday, 45 kcfs Sunday,
and 90 kcfs on Christmas Eve. When asked, most players believed that the
Christmas Eve flows were a mistake, and would be reduced in a future report.
In unit news, Colstrip #1 (330 MW) was brought down for scheduled
maintenance on Saturday, but was back in service 24 hours later. Weather
forecasts for Seattle and Portland were calling for temperatures to dip
slightly through the week, but not into below-normal territory, while the
latest six-to-ten from the NWS was predicting above-normal temperatures for
the entire region from December 23 through 27.
With much activity on the generation front and stronger spot natural gas
prices, heavy load electricity prices across the Golden State edged up on
Monday. "Prices were generally floating down from the high end but bounced
around a bit as the day progressed. In terms of the long-range forecasts,
it is not particularly strong," commented one trader. At SP15, heavy load
electricity prices traded in a larger range on Monday, from 32 to
35.25$/MWh. Off-peak prices were also seen on a wider scale, ranging from
24.5 to 28.4$/MWh. Spot gas prices at the SoCal border were also stronger
on Monday, trading between 2.74 and 2.79$/mmBtu, up about 14 cents from
Friday. In unit news, SP15-based El Segundo #4 (335 MW) went off-line
unexpectedly on Monday. Gas-fired Moss Landing #6 (739 MW) was back at full
power on Monday following a planned maintenance outage that began on
November 3. The weather forecast for Tuesday called for normal conditions
with highs in the upper 60s in the south and mid-50s in the north.
Overnight lows were expected to reach the mid-40s across the entire state.
The five-day forecast called for little change as the week progressed. The
latest six-to-ten from the NWS called for above-normal temperatures from
December 23 to 27.
An unexpected unit outage and rising spot gas prices helped to prop up
prices in the Southwest on Monday, albeit slightly. Mohave #1 (790 MW) was
taken off line Saturday for tube leak repairs, and was given an ETR of
"December 19 or 20." Being that we are talking about a Mohave unit, one
should err on the side of caution and go with the 20th. Some parties said
the Mohave outage had little to do with the slightly higher prices, given
that it was more than offset by the weekend returns of two 750 MW units,
Four Corners #4 and Navajo #3. Further to the north, Colorado-based Craig
#1 (428 MW) was brought down Saturday for unplanned repairs, with no ETR
given. There were also unconfirmed reports that San Juan #3 (534 MW) was
operating near 50% on Monday. Peak power at Palo Verde traded from 29 to
33.75$/MWh, with the bulk of deals done at the 33$/MWh mark. Weather
forecasts called for seasonable temperatures through the week, while the
latest six-to-ten from the NWS was predicting a mix of normal and
below-normal temperatures from December 23 through 27. "Below-normal
temperatures in the Southwest this time of year could mean some higher
off-peak prices, but little more," said one industry soothsayer.
Patrick O'Neill and Beth Goodwin
_________________________________________________________
Western Generating Unit Outages
Current Begins Ends Reason
CAISO units <250/5343 total NA NA
planned/unplanned*
Alamitos #3/320/gas 04-Dec-01 ? planned
Big Creek Project/1020/hydro 09-Dec-01 ? @752MW,
planned
Craig#1/428/coal 15-Dec-01 ? unplanned*
El Segundo #3/337/gas 02-Oct-01 ? unplanned
El Segundo #4/335/gas 17-Dec-01 ? unplanned*
Encina #5/332/gas 27-Oct-01 ? planned
Etiwanda #4/320/gas 08-Nov-01 ? unplanned
Grand Coulee #19/600/hydro 10-Dec-01 March repairs
Helms PGP #2/407/hydro 01-Oct-01 ? planned
Hunter #2/472/coal 11-Dec-01 21-Dec-01 unknown*
Hyatt/Thermalito/933/hydro 02-Oct-01 ? @607 MW,
unplanned
Mohave #1/790/coal 15-Dec-01 20-Dec-01 tube leak*
Ormond Beach #2/750/gas 05-Oct-01 ? @350 MW,
unplanned
Pittsburg #6/317/gas 22-Nov-01 ? planned
Sutter Plants/546/gas 04-Dec-01 ? @235 MW,
planned
For unit owners refer to pdf version.
*Indicates a change from previous EMR.
______________________________________________________________________
Eastern Markets Pre-Scheduled Firm Power Prices ($/MWh)
December 17, 2001 for December 18, 2001
Peak (Heavy) in $/MWh
Low Change High Change
Into Cinergy 17.25 1.75 19.00 0.00
Western PJM 23.75 1.95 24.10 1.40
Into Entergy 17.50 -1.00 21.50 1.25
Into TVA 17.50 0.75 19.00 0.50
___________________________________________________________
Amongst a healthier generation landscape and continued well above-normal
daytime highs, Monday's day-ahead electricity prices across the Eastern
Interconnect firmed up slightly on the low end, but softened for the most
part on the high. "We don't expect to see a whole lot of deviation in
prices until after the New Year," remarked one Eastern trader. Spot natural
gas prices were stronger on Monday amid stronger weather related demand due
to a return to more normal like weather conditions later in the week. In
the gas market, NYMEX Henry Hub natural gas futures tumbled substantially on
Monday. The January contract fell 16 cents, while February also lost a
similar 14.7 cents.
Spot electricity prices across the Mid-Atlantic on Monday were mostly steady
to Friday, trading up forty cents on the high end. Western PJM pieces
changed hands between 23.75 to 24.5$/MWh, with the bulk of deals going
through at 24$/MWh. LMPs plateaued at almost 36$/MWh from 10:00 to 11:00
EST, before settling down to the day's average of 19.86$/MWh through 15:00.
In generation news, almost 2,000 MW returned to the grid over the weekend,
adding more supply to a still weak demand. On the weather front,
temperatures for the Mid-Atlantic were expected to cool dramatically as the
week progressed. Daytime highs for Tuesday were expected in the mid-50s,
about ten degrees above normal for this time of year. By Friday, conditions
were expected to return to more seasonal levels for December. The most
current six-to-ten from the NWS called for below-normal temperatures from
December 23 to 27.
With the return of a large unit to an already plentiful supply picture,
day-ahead power prices settled slightly lower on Monday in the Midwest.
Into Cinergy goods were bought and sold between 17.9 and 18.65$/MWh, with
the majority of transactions done from 18.2 to 18.4$/MWh. Traders said
balance-of-the-week deals were being done right around 19$/MWh, with next
week trading 25 to 50 cents lower on lighter loads for the holiday. On the
unit front, Michigan-based nuke Fermi #2 (1,085 MW) returned to service over
the weekend from its fall refueling outage, although whether it was
operating at full capacity or still ramping up on Monday afternoon could not
be confirmed. "Weather-wise, the worst is behind us this week," commented
one hopeful seller. Tuesday forecasts called for highs in the
low-to-mid-40s and lows in the mid-30s, while the rest of the week was
expected to become progressively colder. The latest six-to-ten predicted
below-normal temperatures from December 23 to 27.
Amid weak weather-related demand, but despite stronger spot gas prices,
heavy load electricity prices weakened across the Southeast and traded in a
narrower range on Monday. Into Entergy prices gained fifty cents on the low
end, trading at 18$/MWh, while prices slipped seventy-five cents on the high
end to finish the day at the 20$/MWh mark. Into TVA prices were seen in a
fifty cent range from 18.25 to 18.75$/MWh. In generation news, South
Carolina Oconee #3 (847MW) returned to full capacity sometime over the
weekend. Tuesday's highs for the Southeast were expected to range from the
mid-50s to the high-60s, still well above normal for the last remaining
weeks of the year. The five-day forecast called for gradual cooling. The
latest six-to-ten called for below-normal temperatures to blanket the region
from December 23 to 27.
___________________________________________________________
California ISO Congestion Index in $/MWh
Path Peak Off-peak
for 16-Dec-01 NW1 to NP15 0.10 0.15
NW3 to SP15 0.00 0.00
AZ3 to SP15 0.00 0.00
LC1 to SP15 0.00 0.00
SP15 to NP15 0.00 0.00
for 17-Dec-01 NW1 to NP15 0.00 0.00
NW3 to SP15 0.00 0.00
AZ3 to SP15 0.00 0.00
LC1 to SP15 0.00 0.00
SP15 to NP15 0.00 0.00
for 18-Dec-01 NW1 to NP15 0.01 0.00
NW3 to SP15 0.00 0.00
AZ3 to SP15 0.00 0.00
LC1 to SP15 0.00 0.00
SP15 to NP15 0.00 0.00
OTC Forward Peak Electricity Contracts in $/MWh
Mid-C PV SP-15
Bid Ask Bid Ask Bid Ask
BOM 26.50 27.50 28.75 29.75 30.25 31.25
January 26.50 28.00 27.75 28.75 29.00 30.00
February 22.50 24.00 26.75 27.75 26.75 27.75
March 21.00 22.50 26.00 27.00 27.25 28.25
Q1 '02 23.00 24.50 27.50 28.50 28.50 29.50
Q2 '02 18.50 20.00 29.00 30.00 28.00 29.00
Q3 '02 35.50 37.00 47.00 48.00 43.00 44.00
Q4 '02 30.00 32.00 29.50 30.50 31.00 32.00
Cal '03 30.50 32.00 34.25 35.25 36.50 37.50
Represents the most recent bid/ask spread obtainable
by the Energy Market Report.
Alberta Power Pool Index (C$/MWh)
Peak(14) Peak(16) Off-Peak Flat Change
for 14-Dec-01 43.13 42.32 15.57 34.24 -5.02
for 15-Dec-01 45.21 43.37 18.69 35.64 1.41
for 16-Dec-01 35.76 34.88 24.19 31.54 -4.10
BPA's Offer for 12/19/01.
Hours Amount NW delivered COB/NOB delivered
7-22 100MW Market Price* Market Price*
*Market price will be determined at time of request.
NYMEX Henry Hub Gas Futures in $/mmBtu
Close Change
Jan 2.686 -0.160
Feb 2.761 -0.147
Natural Gas Spot Prices in $/mmBtu
Low High
Sumas 2.65 2.70
So. Cal Border 2.74 2.79
San Juan 2.46 2.51
__________________________________________________________
Economic Insight, Inc. - 3004 SW First, Portland, Oregon 97201,
Telephone (503) 222-2425, Internet e-mail [email protected] -
Copyright, Economic Insight, Inc. 2001. | {
"pile_set_name": "Enron Emails"
} |
TO:????????? Kassandra Gough--Calpine
??????????????? Chris Micheli--Carpenter Snodgrass
??????????????? Carolyn Baker--Duke Energy
??????????????? Anne Kelly--Duke Energy
??????????????? David Parquet--Enron
??????????????? Jeff Dasovitch--Enron
??????????????? Tom Allen--Mirant
??????????????? John Stout--Reliant Energy
??????????????? Stephanie Newell--Reliant Energy
??????????????? Fred Pownal--Kahl/Pownall Advocates
FROM:?? Carrie-Lee Coke
RE:????????? Friday, April 27 Meeting at 2:00 pm in the CMTA Conference room
to discuss the Windfall Profits Tax
???????????????? bills--SBX1 1 (Soto) and ABX1 128 (Corbett)
We are reserving the CMTA conference room for 2:00 pm on Friday, April 27 to
meet to discuss the Windfall Profits Tax bills--SBX1 1 (Soto) and ABX1 128
(Corbett).? Please RSVP to Pam Ross at 916-498-3320 or [email protected] if you
are able to attend. . . . Thanks. | {
"pile_set_name": "Enron Emails"
} |
The Enron Corporate Policy Committee introduces Expertfinder.
Expertfinder allows you to locate people within the Enron community by
organization structure, skills, reporting relationships, languages, school
attended, and prior work experience.
Expertfinder is a secured HR application that is available upon completion of
your Certificate of Compliance. Expertfinder can be accessed on the Enron
Intranet by typing the following URL at the Internet Explorer command line
and Log In using the HRGIS Id provided below:
https://hrglobal.enron.com
Your HRGIS Id: 90012960
Your Password: Date of Birth (Format YYYYMMDD)
*Current users of the Global Launch Zone will maintain the same password.
If you don't remember your password, click on Forgot ID/Password below the
Log In button. Should you have any questions regarding access or data issues
in Expertfinder contact the HRGIM Line (HR Global Information Management) at
713-853-5666.
Expertfinder is only as good as the data provided. Does your personal data
need updating? Go to eHRonline.enron.com or home.enron.co.uk/hrol_caller.htm
(Enron Europe Limited only) to update your data today. Or, contact your HR
Generalist for business unit related updates. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 12/30/99
03:47 PM ---------------------------
Shan Millie <[email protected]> on 12/17/99 09:05:07 AM
To: Vince J Kaminski/HOU/ECT@ECT
cc:
Subject:
Hi.
I hope you got my message. Rob (if you don't know) has been "swiped" by Risk
to edit one of the new newsletters - Risk Management Operations - and so no
longer works with Books. We were very sad to see him go, but it is a great
opportunity for him and nice to see some intelligent internal promotion for
a change! Was there anything in particular you needed, Vince? Just to say
also that the energy titles (especially MEPR2) have received some excellent
reviews at contingencyanalysis.com which may interest you. Rob may have
mentionned the Utility Risk title we'd like to publish next year; any views
on that from you would be welcome, obviously. Let me know if and when you're
around and we can catch a coffee.
In the meantime, I hope you and your family have some good quality holiday
time. Best regards, as always. Sh?n
Sh?n Millie
Risk Books
28-29 Haymarket
London SW1Y 4RX
tel: +44 (0)171 484 9740
fax: +44 (0)171 484 9758
e-mail: [email protected]
www.riskpublications.com | {
"pile_set_name": "Enron Emails"
} |
A couple questions --
1. Could the company include distribution wires as well, instead of being just a transmission only wires?
2. How many shares would a divesting company get? Could this be more that 5%? If so, wouldn't this be over the "control" threshold?
In general, I fully support this type of action.
Jim
-----Original Message-----
From: Walton, Steve
Sent: Friday, August 17, 2001 3:56 PM
To: Steffes, James D.; Novosel, Sarah; Shapiro, Richard
Cc: Perrino, Dave
Subject: Transmission Divesture and Tax Policy
Jim, Sarah and Rick,
The following describes the suggestion that I made in our meeting this morning. This is a strategy which could only be executed in legislation.
The Problem:
One of the chief difficulties of forming a Transco are the tax consequences of divestiture of assets. The problem was identified in 1995 when we first started talking about a Transco in the West. If the parties agree in advance of divesture to combine their assets with others into a new company, the divestiture creates a tax event. As a result, the Transco's like Alliance or TransConnect have adopted an LLC structure to avoid the tax consequences of formation. The problem with the LLC form is the reluctance of the owners to surrender all control of their assets to the Managing Member who has "little skin in the game." Questions have also been raised by opponents about the fiduciary responsibilities of Managing Member. Are they to look out of the financial interests of the owners (passive and active)? All these issues came up when we were working with various companies in 1999-2000 on possible pipe/wire companies.
The Suggestion:
Create a short window during which utilities could divest their assets into a Transco without facing a tax penalty. Under such a provision, current owners would be allowed to agree in advance to combine their assets to form a new company without taxes being levied on the spin off, as long as the new company was a transmission only company. The shareholders of the contributing companies would received publicly traded shares in the new company, so there is no issue of the original company controlling the Transco. The Federal Treasury is tax neutral, since without the provision the Transco doesn't form. When the shareholders of Transco sell their shares, the are taxable, if the Transco becomes more valuable, then the benefit accrues to Treasury in taxes on the sale of the stock. With a two year window, the companies would be faced with a one time opportunity to make the shift and avoid taxes. This become a trigger for breaking up the vertical integration for which a business case can be made the shareholders of today's owners are better off.
Thanks for listening (reading).
Steve | {
"pile_set_name": "Enron Emails"
} |
Dave,
John Lavorato would like me to get back with him regarding exactly why we
can't send out a pop-up window to advertise the new power products that we're
launching this week. Could you call or e-mail back? He basically said he
wants to do one, but I don't want to if it could crash all of EOL on our
behalf. Let me know. Thanks,
Fletch | {
"pile_set_name": "Enron Emails"
} |
You're the best!
Teresa Smith@ENRON
06/15/2000 01:04 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Re: Outercurve Technologies - Request for EOL NDA
I will endevour to get you this information this afternoon.
-Teresa
From: Tana Jones@ECT on 06/15/2000 12:40 PM
To: Teresa Smith/Corp/Enron@ENRON
cc:
Subject: Re: Outercurve Technologies - Request for EOL NDA
To prepare an NDA for you I will need the following information:
1. The correct legal name of the counterparty
2. Whether the agreement is bilateral (both parties providing confidential
information) or one-way (where only Enron is providing confidential
information). Our preference is to use the Enron protected party form since
it is written more in our favor.
3. The nature and/or use of the information being provided.
4. The address of the counterparty
5. The phone and fax number of the counterparty
Once I have all this I can prepare your NDA in short order.
Teresa Smith@ENRON
06/15/2000 10:59 AM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Outercurve Technologies - Request for EOL NDA
Tana,
Please can you forward a copy of the EOL NDA to Alexandria Khalil at
Outercurve Technologies ([email protected]). Please can you advise when
you have received a signed copy.
Thanks
-Teresa | {
"pile_set_name": "Enron Emails"
} |
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Depart Saturday, November 3 and return on either Monday, November 5 or Tuesday, November 6, 2001. Please see the Terms and Conditions listed at the end of this e-mail.
For OnePass members, here are special opportunities to redeem miles for travel to the following destinations. As an additional benefit, OnePass Elite members can travel using the miles below as the only payment necessary. The following are this week's OnePass continental.com Specials.
To use your OnePass miles (as listed below) to purchase continental.com Specials, you must call 1-800-642-1617.
THERE WILL NOT BE AN ADDITIONAL $20 CHARGE WHEN REDEEMING ONEPASS MILES FOR CONTINENTAL.COM SPECIALS THROUGH THE TOLL FREE RESERVATIONS NUMBER.
If you are not using your OnePass miles, purchase continental.com Specials online until 11:59pm (CST) Friday at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EX
You can also purchase continental.com Specials for an additional cost of $20 per ticket through our telephone service at 1-800-642-1617.
****************************************
TRAVEL MAY ORIGINATE IN EITHER CITY
****************************************
****Roundtrip BETWEEN CLEVELAND, OH and:
$29 + 12,500 Miles or $119 - Albany, NY
$29 + 12,500 Miles or $129 - Grand Rapids, MI
$29 + 12,500 Miles or $139 - Hartford, CT
$29 + 12,500 Miles or $119 - Indianapolis, IN
$29 + 12,500 Miles or $129 - Kansas City, MO
$29 + 10,000 Miles or $109 - Nashville, TN
$29 + 12,500 Miles or $139 - Raleigh/Durham, NC
$29 + 12,500 Miles or $129 - Richmond, VA
****Roundtrip BETWEEN HOUSTON, TX and:
$29 + 10,000 Miles or $109 - Baton Rouge, LA
$29 + 15,000 Miles or $159 - Greensboro/Piedmont Triad, NC
$29 + 12,500 Miles or $129 - Indianapolis, IN
$29 + 12,500 Miles or $139 - Kansas City, MO
$29 + 10,000 Miles or $109 - Lafayette, LA
$29 + 12,500 Miles or $129 - Laredo, TX
$29 + 12,500 Miles or $119 - Little Rock, AR
$29 + 17,500 Miles or $169 - Louisville, KY
$29 + 10,000 Miles or $109 - Lubbock, TX
$29 + 12,500 Miles or $119 - Monroe, LA
$29 + 12,500 Miles or $129 - Raleigh/Durham, NC
$29 + 17,500 Miles or $219 - Tucson, AZ
$29 + 15,000 Miles or $149 - Washington, DC (Dulles Airport only)
$29 + 15,000 Miles or $149 - Washington, DC (National Airport only)
****Roundtrip BETWEEN NEW YORK/NEWARK and:
$29 + 12,500 Miles or $139 - Greensboro/Piedmont Triad, NC
$29 + 12,500 Miles or $119 - Indianapolis, IN
$29 + 15,000 Miles or $149 - Kansas City, MO
$29 + 15,000 Miles or $149 - Louisville, KY
$29 + 12,500 Miles or $129 - Milwaukee, WI
$29 + 17,500 Miles or $169 - Seattle/Tacoma, WA
********************************
2. CONTINENTAL VACATIONS OFFERS
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****************************************
3. CONTINENTAL.COM SPECIALS FROM HILTON HOTELS AND RESORTS, DOUBLETREE
HOTELS AND RESORTS, AND EMBASSY SUITES HOTELS
The following rates are available November 3 - November 5, 2001 and are priced per night.
--------------------------------------
Baton Rouge, LA - Embassy Suites Hotel Baton Rouge - $99
Cleveland, OH - Hilton Garden Inn Cleveland Airport - $79
Cleveland, OH - Hilton Cleveland East/Beachwood, Beachwood, OH. - $109
Cleveland, OH - Embassy Suites Hotel Cleveland-Downtown - OH. - $99
Grand Rapids, MI - Hilton Grand Rapids Airport - $89
Hartford, CT - Hilton Hartford - $149
Hartford, CT - Doubletree Hotel Bradley International Airports, Windsor Locks, CT. - $129
Houston, TX - Hilton Houston Westchase and Towers - $149
Houston, TX - Hilton Houston Hobby Airport - $109
Houston, TX - Hilton Houston Southwest - $99
Houston, TX - Doubletree Guest Suites Houston - $179
Lafayette, LA - Hilton Lafayette and Towers - $69
Nashville, TN - Embassy Suites Hotel Nashville-Westend - $99
Newark, NJ - Hilton Pearl River, Pearl River, NY. - $99/Night, - 11/3-4
Newark, NJ - Hilton Hasbrouck Heights, Hasbrouck Heights, NJ. - $159
Newark, NJ - Hilton Parsippany, Parsippany, NJ. - $89
Newark, NJ - Hilton Fort Lee George Washington Bridge, Fort Lee, NJ. - $119
Newark, NJ - Doubletree Club Suites Jersey City, Jersey City, NJ. - $149
Newark, NJ - Hilton Times Square, New York, NY. - $299/Night, 11/3-4
Raleigh/Durham, NC - Hilton North Raleigh, Raleigh, NC. - $99
Raleigh/Durham, NC - Hilton Durham, Durham, NC. - $99
Seattle, WA - Hilton Bellevue, Bellevue, WA. - $129
Seattle, WA - Doubletree Guest Suites Seattle-Southcenter, Seattle, WA. - $99
Washington, DC - Hilton Garden Inn Washington DC Franklin Square, Washington, DC. - $139
Washington, DC - Hilton Washington Dulles Airport, Herndon, VA. - $179
Washington, DC - Hilton Arlington and Towers, Arlington, VA. - $169
Washington, DC - Hilton Washington Embassy Row, Washington, DC. - $118
Washington, DC - Hilton Crystal City at Ronald Reagan National Airport, Arlington, VA. - $169
To book this week's special rates for Hilton Family Hotels, visit and book at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EZ
Special rates apply only for the dates listed at each hotel and are subject to availability. Check hilton.com for specific dates at each Hilton Family Hotel. Or call at 1-800-774-1500 and ask for Value Rates. Restrictions apply to these rates.
****************************************
4. CONTINENTAL.COM SPECIALS LAST-MINUTE WEEKEND RATES FROM WESTIN HOTELS & RESORTS, SHERATON HOTELS & RESORTS, FOUR POINTS BY SHERATON, ST. REGIS, THE LUXURY COLLECTION, AND W HOTELS
Last-Minute Weekend Rates for this weekend November 2 - November 6, 2001.
--------------------------------------
Arizona - Tucson - Sheraton Tucson Hotel & Suites - $50
Arizona - Tucson - Four Points by Sheraton Tucson University Plaza - $59
Arizona - Litchfield Park - The Wigwam Resort - $135
Connecticut - Danbury - Sheraton Danbury Hotel - $65
Connecticut - Stamford - The Westin Stamford - $84
Connecticut - Windsor Locks - Sheraton Bradley Airport Hotel - $89
Indiana - Indianapolis - Four Points by Sheraton Indianapolis-East - $49
Indiana - Indianapolis - The Westin Indianapolis - $87
Kentucky - Lexington - Sheraton Suites Lexington - $69
Missouri - Kansas City - Four Points by Sheraton Kansas City Country Club Plaza - $59
New Jersey - Piscataway - Four Points by Sheraton Somerset/Piscataway - $65
New Jersey - Edison - Sheraton Edison Hotel Raritan Center - $69
New Jersey - Elizabeth - Four Points by Sheraton Newark Airport - $77
Ohio - Independence - Four Points by Sheraton Cleveland South - $65
Ohio - Cuyahoga Falls - Sheraton Suites Akron/Cuyahoga Falls - $99
Tennessee - Nashville - Sheraton Music City - $59
Texas - Houston - Sheraton Houston Brookhollow Hotel - $45
Texas - Houston - The Westin Oaks - $70
Texas - Houston - Sheraton Suites Houston Near The Galleria - $71
Texas - Houston - The St. Regis, Houston - $106
Virginia - Alexandria - Sheraton Suites Alexandria - $89
Washington - Tacoma - Sheraton Tacoma Hotel - $69
Washington - Seattle - The Sheraton Seattle Hotel and Towers - $135
Washington - Seattle - The Westin Seattle - $135
Wisconsin - Brookfield - Sheraton Milwaukee Brookfield Hotel - $49
Visit our site:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EA
for booking these and other Last-Minute Weekend Rates.
For complete details on these offers, please refer to the terms and conditions below.
********************************
5. CONTINENTAL.COM SPECIALS FROM ALAMO RENT A CAR
Rates listed below are valid on compact class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, November 3 with returns Monday, November 5 or Tuesday, November 6, 2001.
-------------------------------
$26 a day in: Hartford, CT (BDL)
$18 a day in: Nashville, TN (BNA)
$20 a day in: Cleveland, OH (CLE)
$18 a day in: Washington, DC (DCA)
$26 a day in: Newark, NJ (EWR)
$18 a day in: Greensboro, NC (GSO)
$18 a day in: Washington, DC (IAD)
$18 a day in: Houston, TX (IAH)
$20 a day in: Indianapolis, IN (IND)
$18 a day in: Little Rock, AR (LIT)
$18 a day in: Kansas City, MO (MCI)
$18 a day in: Milwaukee, WI (MKE)
$18 a day in: Raleigh-Durham, NC (RDU)
$20 a day in: Seattle, WA (SEA)
$26 a day in: Tucson, AZ (TUS)
To receive special continental.com Specials discounted rates, simply make advance reservations and be sure to request ID # 596871 and Rate Code 33. Book your reservation online at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EB
or contact Alamo at 1-800 GO ALAMO.
*If you are traveling to a city or a different date that is not listed, Alamo offers great rates when you book online at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EC
For complete details on these offers, please refer to Alamo's terms and conditions below.
****************************************
6. CONTINENTAL.COM SPECIALS FROM NATIONAL CAR RENTAL
Rates listed below are valid on intermediate class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, November 3 with returns Monday, November 5 or Tuesday, November 6, 2001.
------------------------------------------
$29 a day in: Hartford, CT (BDL)
$30 a day in: Baton Rouge, LA (BTR)
$23 a day in: Cleveland, OH (CLE)
$21 a day in: Washington, DC (DCA)
$29 a day in: Newark, NJ (EWR)
$23 a day in: Grand Rapids, MI (GRR)
$21 a day in: Greensboro, NC (GSO)
$21 a day in: Washington, DC (IAD)
$21 a day in: Houston, TX (IAH)
$26 a day in: Indianapolis, IN (IND)
$21 a day in: Lubbock, TX (LBB)
$29 a day in: Lafayette, LA (LFT)
$21 a day in: Kansas City, MO (MCI)
$23 a day in: Richmond, VA (RIC)
$23 a day in: Louisville, KY (SDF)
$23 a day in: Seattle, WA (SEA)
To receive your continental.com Specials discounted rates, simply make your reservations in advance and be sure to request Product Code COOLUS. To make your reservation, contact National at 1-800-CAR-RENT (1-800-227-7368), or book your reservation online at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EUT
Please enter COOLUS in the Product Rate Code field, and 5037126 in the Contract ID field to ensure you get these rates on these dates.
* If you are traveling to a city or a different date that is not listed, National offers great rates when you book online at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EUU
For complete details on these offers, please refer to National's terms and conditions below.
****************************************
CONTINENTAL.COM SPECIALS RULES:
Fares include a $37.20 fuel surcharge. Passenger Facility Charges, up to $18 depending on routing, are not included. Up to $2.75 per segment federal excise tax, as applicable, is not included. Applicable International and or Canadian taxes and fees up to $108, varying by destination, are not included and may vary slightly depending on currency exchange rate at the time of purchase. For a complete listing of rules please visit:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EUV
ALAMO RENT A CAR'S TERMS AND CONDITIONS:
Taxes (including VLF taxes up to US$1.89 per day in California and GST), other governmentally-authorized or imposed surcharges, license recoupment fees, fuel, additional driver fee, drop charges and optional items (such as CDW Waiver Savers(R) up to US$18.99 a day,) are extra. Renter must meet standard age, driver and credit requirements. Rates higher for drivers under age 25. Concession recoupment fees may add up to 14% to the rental rate at some on-airport locations. Up to 10.75% may be added to the rental rate if you rent at an off-airport location and exit on our shuttle bus. Weekly rates require a 5-day minimum rental or daily rates apply. For weekend rates, the vehicle must be picked up after 9 a.m. on Thursday and returned before midnight on Monday or higher daily rates apply. 24-hour advance reservation required. May not be combined with other discounts. Availability is limited. All vehicles must be returned to the country of origin. Offer not valid in San Jose, CA.
NATIONAL CAR RENTAL TERMS AND CONDITIONS:
Customer must provide Contract ID# at the time of reservation to be eligible for discounts. Offer valid at participating National locations in the US and Canada. Minimum rental age is 25. This offer is not valid with any other special discount or promotion. Standard rental qualifications apply. Subject to availability and blackout dates. Advance reservations required. Geographic driving restrictions may apply.
TERMS AND CONDITIONS FOR WESTIN, SHERATON, FOUR POINTS,
ST. REGIS, THE LUXURY COLLECTION, AND W HOTELS:
Offer is subject to availability. Advance Reservations required and is based on single/double occupancy. Offer not applicable to group travel. Additional Service charge and tax may apply. The discount is reflected in the rate quoted. Offer valid at participating hotel only. Offer valid for stays on Fri - Mon with a Friday or Saturday night arrival required. Rate available for this coming weekend only. Offer available only by making reservations via the internet. A limited number of rooms may be available at these rates.
---------------------------------------
This e-mail message and its contents are copyrighted and are proprietary products of Continental Airlines, Inc. Any unauthorized use, reproduction, or transfer of the message or its content, in any medium, is strictly prohibited.
****************************************
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Please visit the continental.com Specials page on our web site at:
http://continentalairlines.rsc01.net/servlet/cc?JHDUUBEqmohsmFLJmDLgkhgDJhtE0EUY | {
"pile_set_name": "Enron Emails"
} |
it might be a reasonable idea, as long as it isn't a weekly event | {
"pile_set_name": "Enron Emails"
} |
TO: JGS Faculty
This notice has just been received from the Houston Post Office.
Due to current operating conditions and government security measures,
Express Mail destined for federal government agencies in Washington, DC
(ZIP Codes 202 through 205), are experiencing significant delays.
Therefore, effective immediately, Express Mail service to Washington, DC,
ZIP Codes 202 through 205, is temporarily suspended. Until the suspension
is lifted, mailers should use First-Class Mail for mail destined for these
ZIP Codes.
I'll advise you when the suspension is lifted.
Pat Kambhu
Pat Kambhu, Manager
Delivery Services MS 555
Rice University
PO Box 1892
Houston, TX 77251-1892
Phone: 713-348-6047
Fax: 713-348-5281
Board Member, Southwest Assoc
of College and University Mail Services
Board Member, Houston Postal Customer Council | {
"pile_set_name": "Enron Emails"
} |
Effective 2/1/02 a new company will go into effect called ENNG. The company code is 179E.
The primary purpose of this company is to account for the payroll of the Enron employees who are currently on company 0179, and who will remain Enron employees after the 2/1/02 transition of Northern Natural Gas to Dynegy.
With respect to coding invoices, recording time and other similar transactions on Northern Natural Gas (0179) please note the following that are effective 2/1/02:
If you have expenses that you normally would charge to a 0179 FAR order or project, continue using the same codes. No changes here.
If you have expenses that you normally would charge to a 0179 cost center, use the same cost center number except replace the first digit with a 5. For example, if you would have charged 111222, charge 511222 instead. These "5" series cost centers have been set up on company 179E, but their payroll and expenses flow into company 0179. You will not be able to code direct to a 0179 cost center after January business (1/31/02).
If you are becoming a Dynegy employee on 2/1/02, your time entry for January and corrections to any prior period must be entered before noon on 2/1/02. After noon on 2/1/02 do not enter your time into eHRonline or the SAP timekeeping application. During the next week or two we will be working with Dynegy on an alternative for capturing and accounting for your time and payroll expenses.
If you are currently a 0179 employee and are continuing as an Enron employee, your time entry for January and corrections to any prior period must be entered before noon on 2/1/02. After noon on 2/1/02 continue entering your time as you ordinarily would. Unless you exception code to FAR orders or projects, your hours will automatically go into the appropriate "5" series cost center on company 179E.
If you have any questions or need additional information concerning these coding changes please contact Trey Meerbott at (713) 853-7003. | {
"pile_set_name": "Enron Emails"
} |
Paul: We'll await your credit worksheets to begin preparing the ISDA's.
Thanks. Sara
----- Forwarded by Sara Shackleton/HOU/ECT on 05/31/2000 12:37 PM -----
Michael Moulton
Sent by: Kimberly Bullock
05/31/2000 12:17 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Paul Radous/Corp/Enron@ENRON
Subject: ISDA
Sarah,
Could you please put together an ISDA for the following customers of Michael
Moulton to go out via federal express as soon as possible?
1. James W. Bohlig
Sr VP & Chief Operating Officer
Casella Waste Systems, Inc.
25 Greens Hill Lane
Rutland, VT 05701
2. Sean Duffy
Sr. Vice President
FCR, Inc.
809 West Hill Street
Charlotte, NC 28208
704-379-0600 | {
"pile_set_name": "Enron Emails"
} |
Hi Dexter!
Here you are! | {
"pile_set_name": "Enron Emails"
} |
Thank you for choosing to receive Continental Airlines OnePass statement
communications electronically. Your latest statement is now online, providing
a
summary of your mileage activity through February 4, 2001. To access your new
statement, just visit Your Account at
http://airmail.continental.com/cgi-bin5/flo?y=eDLJ0rucu0BHe0NRI
If you have any questions regarding your account, please e-mail the OnePass
Service Center at mailto:[email protected] and make sure to include your name
and OnePass number FE003899 in your e-mail
message.
Sincerely,
Mark Bergsrud
Vice President, Marketing
----------------------------------------------------------------------------
UNFORTUNATELY MAIL SENT TO THIS ADDRESS CANNOT BE ANSWERED.
PLEASE DIRECT ALL INQUIRIES TO
mailto:[email protected]
Note: To modify your OnePass e-mail preferences, please login to Your
Account at
http://airmail.continental.com/cgi-bin5/flo?y=eDLJ0rucu0BHe0NRI
To unsubscribe from all OnePass e-mail programs, please visit
http://airmail.continental.com/cgi-bin5/flo?y=eDLJ0rucu0BHe0v7V | {
"pile_set_name": "Enron Emails"
} |
Mark,
Mieco is the cpy where we had the misposted/bad online trade & we held up
their master. Can we send it out?
Edward Sacks@ENRON
10/18/2000 12:41 PM
To: Mary Cook/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Susan Bailey/HOU/ECT@ECT,
Samantha Boyd/NA/Enron@Enron
cc:
Subject: MIECO - ISDA
It has been brought to my attention that the Mieco ISDA has not been received
by the company. Could you let me know if there is any hold up or perhaps if
we need to trace the package? Thanks
Ed Sacks
---------------------- Forwarded by Edward Sacks/Corp/Enron on 10/18/2000
12:34 PM ---------------------------
[email protected]@mieco.com> on 10/18/2000 12:22:06 PM
Sent by: "Peter D'Anna" <[email protected]>
To: <[email protected]>
cc:
Subject: RE: ISDA
Ed,
I thought Mary and I finalized our issues a week or so ago, but I haven't
seen anything yet. Maybe getting a signature? Peter
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Wednesday, October 18, 2000 5:36 AM
To: [email protected]
Subject: ISDA
Peter,
Hope all is well. Wanted to make sure that the ISDA has been received by
you. My last recollection was that Mary Cook had agreed to all of your
requests. Please respond when you get a chance.
Regards,
Ed Sacks | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by Todd Peterson/ENRON_DEVELOPMENT on
03/01/2001 04:00 PM ---------------------------
Tony Galt
03/01/2001 10:57 AM
To: Roald Nord <[email protected]>
cc: Wayne Perry/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jim Fernie, Todd
Peterson/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Dan Masters@ect, Capt. Kvammen
<[email protected]>
Subject: Hoegh Galleon standing orders and voyage orders format
Roald,
In accordance with your request during our meeting earlier today I have
attached to this message copies of the standing orders and voyage orders for
Hoegh Galleon that Enron finalized with Capt. Kvammen. Though these have
been finalized, it does not mean that they can not be changed in future if
the need arises. Should it become apparent that anything has to be added to
or removed from either of these standard documents they will be amended as
necessary following consultation between Owners and Charterers.
Additionally, below is an excerpt from a message that I sent to Capt. Kvammen
some time ago. It outlines the division of responsibilities within our
organization as they relate to Charterers responsibilities towards Hoegh
Galleon. I did not send you the complete message that was sent to Capt.
Kvammen as there were a number of questions in that message which have since
been answered.
Responsibilities for administering the LNG purchase / sale contracts and for
the daily / voyage instructions, bunkering instructions etc., to the vessel.
This will rest with Todd Peterson and Dan Masters. Todd and Dan work under
Wayne Perry. Dan Masters will be the primary name on ship / charterers
communications and will copy our entire group on his communications with the
ship.
Responsibilities for administering the Hoegh Galleon's Charter Party. This
will rest with myself and Jim Fernie. As you know we work under Wayne.
Obviously Todd, Dan, Jim and I will have to work closely together to ensure
we all know the current status of voyages etc. so that the operation runs
smoothly and we can cover for each other during absences.
Regards,
Tony Galt | {
"pile_set_name": "Enron Emails"
} |
Pushkar -
Just wanted to get you up-to-date on the $250 million Citibank prepay (see attached diagram). The prepay is being structured as two financially settled forward swaps (one with Citi and one with Delta).
These swaps are Jan. '02 Nymex contracts to be settled December 27, 2001 and paid December 28, 2001. These positions are usually paid on Jan. 5, 2002 for these contracts. The cash flows are expected to be (1) $250 million cash at closing (assumed to be June 28), and (2) $250 million plus interest at expiry (assumed to be Dec. 28, 2001). We will have the same Libor exposure in this prepay as in the others. The individuals at Citi mentioned that they would be willing to "set" the Libor rate within the transaction described above to the quoted six-month Libor rate rather than using floating Libor - let me know your thoughts on this.
Again, the expected timing for the transaction is for close on June 28 (after setting Nymex and Libor that afternoon). Please let me know if you have any questions. Finally, the model that is included (see tab "Prepay") will detail the cash flow for both of the swaps. Thanks again for all your help.
Michael Garberding
Enron Americas Global Finance
Work: (713) 853-1864
Fax: (713) 646-3602
E-mail: [email protected] | {
"pile_set_name": "Enron Emails"
} |
> -----Original Message-----
> From: Bisson, Andrew
> Sent: Wednesday, November 08, 2000 4:02 PM
> To: Mansfield, Jeff
> Subject:
>
> Jeff-
>
> Attached, please find the following:
>
> ANP Marketing Company
> FERC Order Granting Application, May 10, 2000
>
>
> <<scan.pdf>>
- scan.pdf | {
"pile_set_name": "Enron Emails"
} |
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
----- Forwarded by Carol St Clair/HOU/ECT on 04/13/01 03:39 PM -----
Chris Long@ENRON
04/12/01 11:57 AM
To: Carol St Clair/HOU/ECT@ECT
cc:
Subject: Memorandum for ISDA U.S.Netting Legislation.DOC
----- Forwarded by Chris Long/Corp/Enron on 04/12/2001 12:56 PM -----
Ruth Ainslie <[email protected]>
04/12/2001 12:47 PM
To: US REGULATORY COMMITTEE <[email protected]>
cc:
Subject: Memorandum for ISDA U.S.Netting Legislation.DOC
Fax: +44 (20) 7330 9999
General Email: [email protected]
www: http://www.allenovery.com
Here is Dan Cunningham's memo on the above.
- Memorandum for ISDA U.S.Netting Legislation.DOC | {
"pile_set_name": "Enron Emails"
} |
Barbara, I think you make valid points in your e-mail. The latest design you
sent me looks fine and meets with our approval. Thanks.
Marge
Barbara Ostdiek <[email protected]> on 08/17/2000 04:10:44 PM
To: "Marge Nadasky" <[email protected]>
cc:
Subject: Re: Seminar Series Mug
At 03:58 PM 8/17/00 -0500, you wrote:
>Barbara, Vince Kaminski had forwarded me the artwork for the mug being
>worked on
>for the seminar series for review/comment. We in Public Relations were
>wondering if you might be able to incorporate the Enron logo in the design?
>Could you please contact me and advise if this is possible?
We tried to use both the Enron logo and the Rice University seal. It just
didn't work. There seemed to be a few problems. The first was color - as
is, the mug will be black with metallic gold text; introducing the other
colors was distracting. Our admissions department uses a black and gold
mug that is quite stunning and, it seems to go with "finance." That was my
motivation. The second problem was that the logos themselves, even if it
made sense to do them in gold, made the design too busy - a lot of the
appeal in these "word" mugs is the clean, linear look. Finally, I think
lack of company and competing business school logos increases the chances
that the academics who come to present their work at our workshop will
display this mug on their desk or on their shelves.
I think the mug will look quite stunning and I think the display of finance
terms will make it an interesting conversion piece - I've never seen
anything like it in academics, let alone in finance. I think Enron's
sponsorship of the Seminar Series will get noticed when people follow their
interest in the mugs to say "What is this? Where'd this come from?"
I'm hoping this version will be acceptable to you for our first shot at
this. Please advise.
Barbara Ostdiek | {
"pile_set_name": "Enron Emails"
} |
Well, go find Glen Cook's The Black Company to start a less deep, but still entertaining, series.
-----Original Message-----
From: "Cherry, Beth" <[email protected]>@ENRON
Sent: Monday, October 15, 2001 9:20 AM
To: Wolfe, Jason
Subject: RE:
I forgot to tell you how mad I was as I got into the book that I am reading. You wouldn't believe how much Goodkind has ripped off from Jordan. I actually got out of bed to check the publishing dates on the books. 80% of Jordan's work was published up to 4 years before Goodkind. 80% of his ideas are ripped off by Goodkind. You would think that I would be so disgusted that I would boycott Goodkind. Unfortunately, my irritation does not reach that far. It is like finishing up a bowl of BlueBell Ice Cream, wanting another but having no more Bluebell and so settling for the marshmallow imitation generic grocery brand - empty calories that are not nearly as satisfying. I am so weak...
Love,
b. | {
"pile_set_name": "Enron Emails"
} |
This testimony was provided by PG&E in response to TURN's motion to roll TRA
balances into the TCBA. While useful for internal purposes, the testimony
was struck from the proceeding. PG&E has said they will be filing a
subsequent application to the Commission on their rate stabilization plan
within the next week. I would expect to see this, or similar information, in
that filing.
From: Jeff Dasovich on 11/16/2000 06:34 PM
Sent by: Jeff Dasovich
To: Roger Yang/SFO/EES@EES, Dennis Benevides/HOU/EES@EES, Neil
Bresnan/HOU/EES@EES, Mona L Petrochko/NA/Enron@Enron, Harry
Kingerski/NA/Enron@Enron, James D Steffes/NA/Enron@Enron, Sandra
McCubbin/NA/Enron@Enron, Susan J Mara/NA/Enron@Enron, Paul
Kaufman/PDX/ECT@ECT
cc:
Subject: FW: PG&E's Testimony on Financial Issues Associated with TRA
Undercollection
----- Forwarded by Jeff Dasovich/NA/Enron on 11/16/2000 06:21 PM -----
"Delaney Hunter" <[email protected]>
11/16/2000 05:30 PM
Please respond to dhunter
To: "Aaron Thomas (E-mail)" <[email protected]>, "'Allan Lippincott'"
<[email protected]>, "Ann Cohn (E-mail)" <[email protected]>, "'Ann Watson'"
<[email protected]>, "Anna Ferrera (E-mail)" <[email protected]>, "'Art
Carter'" <[email protected]>, "'assistant for John Fielder'"
<[email protected]>, "Audra Hartmann (E-mail)" <[email protected]>, "Barbara
Barkovich (E-mail)" <[email protected]>, "'Becky Kilbourne'"
<[email protected]>, "Bill Booth (E-mail)" <[email protected]>, "'Bill
Dombrowski'" <[email protected]>, "Bill Keese (E-mail)"
<[email protected]>, "Bill Zobel (E-mail)" <[email protected]>,
"'Bob Foster'" <[email protected]>, "'Bob Houston'" <[email protected]>,
"Carolyn McIntyre (E-mail)" <[email protected]>, "Carolyn Veal-Hunter
(E-mail)" <[email protected]>, "Catherine Hackney (E-mail)"
<[email protected]>, "Charles Bacchi (E-mail)" <[email protected]>,
"'Craig Brown'" <[email protected]>, "Dan Carroll (E-mail)"
<[email protected]>, "'Denice Cazalet'" <[email protected]>, "Dennis Price
(E-mail)" <[email protected]>, "'Denny Samuel'" <[email protected]>,
"'Dominic DiMare'" <[email protected]>, "Dorothy Rothrock
(E-mail)" <[email protected]>, "'Ed Yates'" <[email protected]>, "Eloy Garcia
(E-mail)" <[email protected]>, "Evelyn Elsesser (E-mail)" <[email protected]>,
"Gary Heath (E-mail)" <[email protected]>, "'Gordon McDonald'"
<[email protected]>, "'Jack Flanigan'"
<[email protected]>, "Jack Gualco (E-mail)"
<[email protected]>, "'Jack Stewart'" <[email protected]>,
"'James Boyd'" <[email protected]>, "Jan Smutny-Jones (E-mail)"
<[email protected]>, "Jeff Dasovich (E-mail)" <[email protected]>, "'Jerry
Jordan'" <[email protected]>, "Jim Cassie (E-mail)" <[email protected]>, "Jim
Groniger (E-mail)" <[email protected]>, "Joe Lyons (E-mail)"
<[email protected]>, "'Joe Ronan'" <[email protected]>, "John Bridges
(E-mail)" <[email protected]>, "'John Fielder'" <[email protected]>, "John
Fistolera (E-mail)" <[email protected]>, "'John Larrea (E-mail)'"
<[email protected]>, "John Rozsa (E-mail)" <[email protected]>, "John White
(E-mail)" <[email protected]>, "'Joseph Alamo'" <[email protected]>, "Julee
Malinowski-Ball (E-mail)" <[email protected]>, "'Julia Wright'"
<[email protected]>, "Karen Edson (E-mail)" <[email protected]>, "Karen
Jarrell (E-mail)" <[email protected]>, "Karen Koyano (E-mail)"
<[email protected]>, "'Karen Lindh'" <[email protected]>, "Karen Mills
(E-mail)" <[email protected]>, "'Kari Harteloo'" <[email protected]>, "Kassandra
Gough (E-mail)" <[email protected]>, "'Kathy Brandenburg'"
<[email protected]>, "Kay Grosulak (E-mail)"
<[email protected]>, "Keith McCrea (E-mail)" <[email protected]>, "Kevin
Lynch (E-mail)" <[email protected]>, "Kevin Smith (E-mail)"
<[email protected]>, "Kip Lipper (E-mail)" <[email protected]>, "Lawrence
Lingbloom (E-mail)" <[email protected]>, "Lenny Goldberg
(E-mail)" <[email protected]>, "Louis Szablya (E-mail)" <[email protected]>,
"Marc Joseph (E-mail)" <[email protected]>, "Marwan Masri (E-mail)"
<[email protected]>, "Mary McDonald (E-mail)" <[email protected]>,
"Michael Alcantar (E-mail)" <[email protected]>, "Mike Florio (E-mail)"
<[email protected]>, "'Mike Kahl'" <[email protected]>, "Mona Petrochko
(E-mail)" <[email protected]>, "Pete Conaty (E-mail)" <[email protected]>,
"'Phil Nails'" <[email protected]>, "Phil Stohr (E-mail)"
<[email protected]>, "Ralph Cavanagh (E-mail)" <[email protected]>, "Randy
Chinn (E-mail)" <[email protected]>, "Ray Thompson (E-mail)"
<[email protected]>, "'Rick Counihan'"
<[email protected]>, "Robert Berry (E-mail)" <[email protected]>,
"Robin Larson (E-mail)" <[email protected]>, "Sheryl Carter (E-mail)"
<[email protected]>, "Steve Pike (E-mail)" <[email protected]>, "Steve Ponder
(E-mail)" <[email protected]>, "Stu Wilson (E-mail)" <[email protected]>,
"'Sue Mara'" <[email protected]>, "Susan Reeder (E-mail)" <[email protected]>,
"Terry Winter (E-mail)" <[email protected]>, "Thomas Dinkel (E-mail)"
<[email protected]>, "Tim Schmelzer (E-mail)" <[email protected]>,
"'Tommy Ross'" <[email protected]>, "'Tony Braun'" <[email protected]>, "Victoria
Schaefer (E-mail)" <[email protected]>
cc: <[email protected]>
Subject: FW: PG&E's Testimony on Financial Issues Associated with TRA
Undercollection
Per the discussion at the Retreat, please see attached for information on
PG&E's financial situation.
Thanks to Chris Warner for providing this information.
Delaney
-----Original Message-----
From: Warner, Christopher (Law) [mailto:[email protected]]
Sent: Thursday, November 16, 2000 1:39 PM
To: '[email protected]'
Cc: Kauss, Kent; Timmerman, Mark
Subject: PG&E's Testimony on Financial Issues Associated with TRA
Undercollection
<<02_Response.doc>> <<03_PTER_PhaseIII_Ch01_McManus.doc>>
<<05_PTER_PhaseIII_Ch02_Campbell.doc>>
<<07_PTER_PhaseIII_Ch03_Asselstine.doc>>
<<09_PTER_PhaseIII_Ch04_StandardPoors.doc>>
<<CPUC01-#83739-v1-A9901016_et_al_Minkin_Ruling_.doc>>
Delaney, attached fyi is the testimony PG&E submitted to the CPUC last week
on financial issues associated with our TRA undercollection and TURN's
petition for modification. Also attached is a copy of yesterday's ruling of
the administrative law judge rejecting this testimony for consideration as
part of the evidentiary record of this phase of the proceeding. Needless to
say, we believe our testimony is informative and helpful and should be
considered as part of the overall policy debate on this vital issue.
Please feel free to pass this testimony along to others who might be
interested, and feel free to give me a call if you have any questions.
Chris Warner
PG&E Law Dept.
415-973-6695
- 02_Response.doc
- 03_PTER_PhaseIII_Ch01_McManus.doc
- 05_PTER_PhaseIII_Ch02_Campbell.doc
- 07_PTER_PhaseIII_Ch03_Asselstine.doc
- 09_PTER_PhaseIII_Ch04_StandardPoors.doc
- CPUC01-#83739-v1-A9901016_et_al_Minkin_Ruling_.doc | {
"pile_set_name": "Enron Emails"
} |
FYI
Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
[email protected]
----- Forwarded by Mary Cook/HOU/ECT on 02/23/2001 08:24 AM -----
Jaimie Jessop
02/22/2001 05:59 PM
To: Mary Cook/HOU/ECT@ECT
cc:
Subject: Enron Canada Corp's Wiring instructions
Mary,
Please find attached a copy of Enron Canada Corp.'s wiring instructions for
both Canadian and US dollar amounts. If you have any questions, please feel
free to give me a call at 403-974-6788.
Thanks
Jaimie | {
"pile_set_name": "Enron Emails"
} |
Janet,
Please review the attached to see that it conforms with your deal. If so,
please send an original to the counterparty. | {
"pile_set_name": "Enron Emails"
} |
I don't see anything in the file that indicates why the Master with CES was
not terminated, only that it will be inactive.
MARY COOK@ECT
08/22/2000 08:29 AM
To: Sara Shackleton/HOU/ECT@ECT, Stephanie Panus/NA/Enron@Enron
cc:
Subject: BOM
Stephanie, double check. It appears the CES master and transactions were
assigned to ENA and the transactions assigned over to the ENA BOM Master
Agreement that we already had we BOM. For some reason the parties then
agreed not to terminate the old CES master, but leave it in place inactive.
Normally we would terminate the CES master when we have one in place.
Stephanie, is there anything in the file indicating why it was not so
terminated? Did BOM want to keep it in place until the prior trans were
expired for a belt and suspender? Please advise. Mary | {
"pile_set_name": "Enron Emails"
} |
Dylan,
Write up looks good to me. I added a new exhibit 6 worksheet to your
spreadsheet. It's a simple graph of X vs a. You may want to add it to the
report as an illustration of the relationship. I'm at work and was having
trouble adding an arrow to indicate which direction was good to BF Goodrich.
Since your the IT manager I thought it would be no problem for you. Anyway,
nice job on the report!
Jimmy <<BF Good Exhibits.xls>>
> -----Original Message-----
> From: Dylan Windham [SMTP:[email protected]]
> Sent: March 17, 2001 5:33 PM
> To: [email protected]; [email protected];
> [email protected]; [email protected]
> Subject: BF Good Case
>
>
>
> Ok gang,
>
> Here is the corrected version. I made the changes that Jimmy and Mark
> suggested and added the insurance information that we came up with on
> Monday. Please make any changes by 9:00 pm tomorrow and send them to me
> so
> that I can get it ready to turn in.
>
> Thanks,
>
> Dylan << File: BFG Dylan 0317.doc >> << File: BF Good Exhibit 1.doc >>
> << File: BF Good Exhibits.xls >>
- BF Good Exhibits.xls | {
"pile_set_name": "Enron Emails"
} |
This explains a lot. Lets talk at 9 on what the status of the case is--find
some trade press articles first thing mon. AM and don't bug Janet quite yet.
Sounds like Bill has arranged a briefing by the NB people for our benefit
(and probably an argument about whether we should intervene). Thanks. DF
---------------------- Forwarded by Drew Fossum/ET&S/Enron on 04/08/2000
10:26 AM ---------------------------
Meeting Confirmation
From: Virginia O'Neill on 04/07/2000 10:29 AM
To: Dave Neubauer/ET&S/Enron@ENRON, Drew Fossum/ET&S/Enron@ENRON, Mary Kay
Miller/ET&S/Enron@Enron
cc: Deb Cappiello/ET&S/Enron@ENRON, Martha Benner/ET&S/Enron@ENRON, Sharon
Solon/ET&S/Enron@ENRON
Subject: NBPL Rate Case
Larry DeRoin now indicates that they are available to meet next Monday
morning, April 10, to discuss the NBPL Rate case. The meeting will take
place following Stan's Monday morning meeting which generally concludes at
10:00 AM. Mary Kay, Bill is aware that you will be out on Monday -- someone
will up-date you following the meeting.
The following meeting has been confirmed:
Topic: NBPL Rate Case
Date: Monday, April 10
Time: 10:00 AM
Meeting Location: Cordes' Conference Room
Additional information: | {
"pile_set_name": "Enron Emails"
} |
Per David Walker at Dominion - for February, his supplier said we received 104,793 dth. Using my calculation down below, we paid Dominion (and billed Tallahassee) for 100,000 dth. I would like to verify that Tallahassee received 104,793 dth, then bill Tallahassee for the additional 4,793 dth and pay Dominion for the same amount.
Please let me know if you have any questions.
thx
-----Original Message-----
From: Germany, Chris
Sent: Tuesday, February 26, 2002 11:03 AM
To: Hamic, Priscilla
Subject: FW: Dominion prepay for City of Tallahassee deal for March 2002
-----Original Message-----
From: Germany, Chris
Sent: Monday, February 25, 2002 3:40 PM
To: Sewell, Doug; Dhont, Margaret; Hamic, Priscilla
Cc: Polsky, Phil; Boyt, Eric; McMichael Jr., Ed; Barbe, Robin
Subject: RE: Dominion prepay for City of Tallahassee deal for March 2002
I just went over the March prepayment with David Walker (405-749-5240) at Dominion. On Thursday, ENA will wire $280,306.00 to Dominion. The Force Majeure event has ended and Dominion will resume deliveries effective 2/26/02. We are assuming Dominion did not deliver any gas for Feb 8th through Feb 25th, 18 days. Following are my calculations
Prepay for March 2002 10,000 dth per day x 31 days x $2.1562 = $668,422.00
Non deliveries for Feb 2002 10,000 dth per day x 18 days x $2.1562 = ($388,116.00)
Amount to wire on 2/28/02 ==> $280,306.00
There may have been some gas flow on Feb 8th, but David will let us know about that later.
Doug, do I need to prepare a new Cash Use Approval Request form?
-----Original Message-----
From: Germany, Chris
Sent: Thursday, February 21, 2002 10:58 AM
To: Sewell, Doug; Dhont, Margaret; Hamic, Priscilla
Cc: Polsky, Phil; Boyt, Eric; McMichael Jr., Ed; Barbe, Robin
Subject: Dominion prepay for City of Tallahassee deal for March 2002
I'm requesting the prepay for Dominion for March 2002. I printed out the request, signed it, and gave it to Doug. I just want everyone to be aware of what is happening with Dominion. Dominion is still not delivering the gas to Tallahassee due to a Force Majeure event. We are expecting gas to flow any day, hopefully by the weekend.
Eric, I left a message for David Walker (405-749-5240) at Dominion to call me about the prepayment amount. Following are my calculations
Prepay for March 2002 10,000 dth per day x 31 days x $2.1562 = $668,422
Non deliveries for Feb 2002 10,000 dth per day x 14 days x $2.1562 = ($301,868)
Estimated payment due 2/28/02 $366,554
As of today Mops has been down from Feb 8th - 21st, 14 days. Mops may not come up until the weekend or early next week. I will adjust the prepayment as needed next week.
<< File: Dominion Prepay (1.29.02 for $603,736)_update.doc >> | {
"pile_set_name": "Enron Emails"
} |
I will be out of the office starting 11/01/2001 and will not return until
12/03/2001.
I will be out of the office until July 24, 2000. I will respond to your
message when I return. If you need immediate assistance, please contact my
assistant, Joyce Nakata. | {
"pile_set_name": "Enron Emails"
} |
Attached is the latest weekly electric report
Also attached is the schedule for workshops for guidance in establishing
RTOs. (Note: Atlanta workshop has changed from April 5-6 to April 6-7). | {
"pile_set_name": "Enron Emails"
} |
Enron Benefit Plans
Summary Annual Report
The basic financial and insurance information on the back of this page, as
well as the material below, provide a Summary Annual Report for the Enron
Benefit Plans. The annual report for each plan has been filed with the
Internal Revenue Service, as required by the Employee Retirement Income
Security Act of 1974 (ERISA).
NOTE: You may receive a report for a benefit plan in which you are not a
participant or under which you are not entitled. Entitlement to benefits
under any of the plans is based on the provisions of each plan.
Your Rights to Additional Information
You have the right to receive, upon request, a copy of the full annual
report, or any part thereof, for any plan. For insured plans, insurance
information (including any sales commissions paid by insurance carriers) is
shown in the annual reports.
To obtain a copy of the full annual report, or any part thereof, for any
plan, write or call:
Enron Corp
1400 Smith Street
Houston, TX 77002-7311
(713) 853-6161
You also have the right to receive from the plan administrator, on request
and at no charge, a statement of the assets and liabilities of the plan and
accompanying notes, or a statement of income and expenses of the plan and
accompanying notes, or both. If you request a copy of the full annual report
from the plan administrator, these two statements and accompanying notes will
be included as part of that report.
You also have the legally protected right to examine the annual report at the
main office of the plan (Enron Corp., 1400 Smith Street, Houston, TX
77002-7311) and at the U.S. Department of Labor in Washington, D.C., or to
obtain a copy from the U.S. Department of Labor upon payment of copying
costs. Requests to the Department should be addressed to: Public Disclosure
Room, N-5638, Pension and Welfare Benefits Administration, U.S. Department of
Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210. | {
"pile_set_name": "Enron Emails"
} |
FYI see attached. Any questions, please call me at ext 39932. Thanks.
Kimat | {
"pile_set_name": "Enron Emails"
} |
Kay:
I have copies of the Articles of Organization, the LLC Agreement, and a
member's consent electing officers for each of the entities (and provided
these to George by fax on 12/7). George advised last week that SEL wanted
the originals of the "minute books" for the two entities. Therefore ENA
should prepare to have the original organizational documents ("minute
books") ready for delivery to SEL at closing. I am unaware of any efforts
to obtain federal EIN's for these entities. Thanks.
Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, January 02, 2001 1:26 PM
To: [email protected]
Cc: [email protected]; [email protected]; Campbell, Carolyn;
Keffer, John; [email protected]
Subject: RE: Invoice Language
Matt,
Do CA Energy Development I and II have federal EIN's?
Thanks,
Kay
PS to all, my answers to other questions:
Carolyn has corp documents
Not registered to do business in Texas
---------------------- Forwarded by Kay Mann/Corp/Enron on 01/02/2001 01:22
PM ---------------------------
"Noonan, Shawn" <[email protected]> on 01/02/2001 01:11:17 PM
To: "'George Kutzschbach'" <[email protected]>,
[email protected]
cc: [email protected], "Pedigo, Doug" <[email protected]>, "Jones,
John" <[email protected]>, "John. Laborde (E-mail)"
<[email protected]>
Subject: RE: Invoice Language
All,
I need to apply for a Texas sales and use tax permit for CAED I and II very
soon. Who has the current corporate data on these LLC entities (such as
business address, names of managing officers and directors (i.e., persons
authorized to execute documents on behalf of the LLC's), and the federal
EIN numbers)? Also, have these entities registered to do business in
Texas? Anyone, please help if you can. Thanks!
-----Original Message-----
From: George Kutzschbach [mailto:[email protected]]
Sent: Tuesday, January 02, 2001 11:37 AM
To: [email protected]
Cc: [email protected]; Pedigo, Doug; Jones, John; Noonan, Shawn
Subject: Re: Invoice Language
Carolyn,
In addition to the invoice change, the periods should be removed from
"LLC" on the cover page, in the first paragraph of the first page, in
Section 1.78 and on the signature page of each Facility Agreement. The
change relating to invoices is that the address of the invoices in
Section 6.7.2 should be as follows for one of the Facility Agreements:
CA Energy Development I, LLC
c/o Sweetgum Energy L.P.
c/o InterGen North America L.P.
909 Fannin, Suite 2200
Houston, Texas 77010
Attention: John Jones
Fax: (713) 374-3901
and as follows for the other:
CA Energy Development II, LLC
c/o Sweetgum Energy L.P.
c/o InterGen North America L.P.
909 Fannin, Suite 2200
Houston, Texas 77010
Attention: John Jones
Fax: (713) 374-3901
Thanks,
George
>>> "Campbell, Carolyn" <[email protected]> 01/02/01 11:12AM >>>
George:
Kay Mann is looking for your requested language providing that GE will
invoice the LLC directly. I am unable to find your request. Can you
please
furnish this, as Kay intends to address this with GE today. Thank you.
Carolyn M. Campbell
King & Spalding
713-276-7307 (phone)
713-751-3280 (fax)
[email protected] <mailto:[email protected]>
Confidentiality Notice
This message is being sent by or on behalf of a lawyer. It is intended
exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are
not the named addressee, you are not authorized to read, print, retain,
copy or disseminate this message or any part of it. If you have
received this message in error, please notify the sender immediately by
e-mail and delete all copies of the message.
Confidentiality Notice
This message is being sent by or on behalf of a lawyer. It is intended
exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it. If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message. | {
"pile_set_name": "Enron Emails"
} |
Gentlemen:
It is my understanding that Ann Ballard will be leaving Enron soon. As a result of her departure, it is also my understanding that a new position may be created to handle federal compliance that would encompass matters related to the Federal Energy Regulatory Commission and the Federal Power Act. If so, I would like to be considered for the position. I have attached a copy of my resume below.
I hold a Doctor of Jurisprudence from the University of Houston. While in law school I received an honors grade in Legal Research and Writing. Additionally, I possess an excellent command of the English language.
I have approximately ten years of legal experience in the judicial, firm, and corporate environments. My experience includes preparation of documents for all phases of litigation from pre-trial through the appellate level, administration and drafting of natural gas contracts, administration of all contracts related to the acquisition of water and wastewater facilities on a worldwide basis, and monitoring asset compliance requirements. Currently, I act as a point of reference to various disciplines such as legal, tax, accounting, asset management, and restructuring. I also utilize the Secretariat database in my day-to-day activities. I possess extensive oral and written communication skills as a result of working in various legal environments. I am comfortable working with employees across all levels of Enron.
During my tenure at Enron I have worked on the Federal Energy Regulatory Commission Annual Report of Interlocking Positions filing. This report is mandatory under Section 305(c)(1) of the Federal Power Act. Further, while at Texaco, I prepared the Canadian National Energy Board's monthly report for the export of natural gas from Canada and the U.S. Department of Energy's quarterly sales and price report for the import of natural gas from Canada.
Please keep my inquiry regarding this position in confidence.
I look forward to hearing from you.
Sincerely,
Monique V. Shankle
Enron Corp.
1400 Smith Street, EB 2403
Houston, Texas 77002
Telephone: (713) 345-8172
Facsimile: (713) 646-4039
Email: [email protected] | {
"pile_set_name": "Enron Emails"
} |
print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/23/2000
03:34 PM ---------------------------
From: Eloy Escobar @ ENRON 10/23/2000 03:00 PM
To: Jennifer Fraser/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: October 23, 2000 Issue of Petroleum Refining Weekly.e
---------------------- Forwarded by Eloy Escobar/Corp/Enron on 10/23/2000
02:59 PM ---------------------------
"DigestNET" <[email protected]> on 10/23/2000 02:59:31
PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: October 23, 2000 Issue of Petroleum Refining Weekly.e
--
Regards,
Publication Department/DigestNET
Hydrocarbon Publishing Company
--
- WK1023.pdf | {
"pile_set_name": "Enron Emails"
} |
Michael,
To follow up on my first message, I want to inform you that I decided
to appear before the SEC investigators without a legal counsel. I simply feel
that your highly competent help is not required in my case.
I want to thank you for the time you spent with me on Wednesday.
My only regret is that I shall have no opportunity to spend more time
with you and learn from your experience.
Vince
-----Original Message-----
From: "Levy, Michael" <[email protected]>@ENRON
Sent: Friday, January 04, 2002 3:28 PM
To: Kaminski, Vince J
Subject: Out of Office AutoReply: SEC Letter
Michael Levy will be out of the office on business until on or about January 22, 2002. He will have some limited access to e-mails and will respond as quickly as he can. In addition, please feel free to contact his secretary, Megan Morgan, at (202) 295-8416, if you need to reach him immediately. You may also leave him a voicemail at (202) 295-8414, and he will get back to you as soon as he can.
Thanks. | {
"pile_set_name": "Enron Emails"
} |
you are in nyc? no your not. don't set me up with the dirty talker, i am
afraid she would embarass me. | {
"pile_set_name": "Enron Emails"
} |
Susan,
I left a message last week for Brenda Frankenhauser about the Columbia
assignment. She has not returned my call.
Stacy | {
"pile_set_name": "Enron Emails"
} |
Hello to everyone.
I hope each of you can make it tomorrow, but if you can't I hope we can still keep in touch. I'd love to have your address, email (external), birthday, and phone number. I'd also like to thank each of you for your friendship during this past year. It has been great working with you! Peace and blessings to all.
Alejandra
[email protected]
-----Original Message-----
From: Videtto, Melissa
Sent: Monday, November 12, 2001 3:12 PM
To: Fowler, Kulvinder
Cc: Keiser, Kam; Johnson, Luchas; Espey, Darren; Palmer, B. Scott; Royed, Jeff; Singla, Kimat; Worthing, Ashley; Hungerford, James; Hernandez, Elizabeth L.; Soto, Elizabeth; Love, Phillip M.; Mills, Bruce; Best, Kristine; Riordan, Sean; Frank, Carole; Rabon, Chance; Winfree, O'Neal D.; Ryder, Patrick; McLaughlin Jr., Errol; Vargas, Laura; Pehlivanova, Biliana; Pimenov, Vladi; Loibl, Kori; Plachy, Denver; Thibaut, Dan; Grant, George; Severson, Russ; Lilly, Kyle R.; Kulic, Sladana-Anna; Perich, Stephen; Underwood, Thomas; Clause, Kristen; Brady, Edward; Hopkins, Stephanie; Culotta, Lindsay; Austin, Chris; Cavazos, Amy; O'Rourke, Ryan; Tian, Yuan; Monroy, Gabriel; Chavez, Alejandra
Subject: Happy Hour for Alejandra
Please join us this Wednesday night so we can spend time with Alejandra on her last night in Houston and wish her the best of luck on her move to El Paso, TX.
When: Wednesday night, November 14, 2001
Time: Drop by when you can beginning around 5:30
Where: The Dog House Tavern (directions below)
Hope to see everyone there!!!
Address:
2517 Bagby
From downtown:
Head Away from downtown on Smith Street
Take a Right on W. Gray
Take a Left on Bagby
The Dog House Tavern will be on your left - it is in a small shopping center on the corner of Smith and McGowen. | {
"pile_set_name": "Enron Emails"
} |
Hey Everyone,
We just wanted to let you know that we added a new league on Wednesday
Nights at the Fort Scott Fields for August and September. If you are
interested in signing up a team or joining as an individual, please e-mail
us at
[email protected]
Thanks,
Brian & Lee & Sean | {
"pile_set_name": "Enron Emails"
} |
Vince,
Sorry for not having the attachment earlier. Here it is.
Regards,
sandeep. | {
"pile_set_name": "Enron Emails"
} |
Gary,
Here is a photograph of a similar house. The dimensions would be 56'Wide X 41' Deep for the living area. In addition there will be a 6' deep two story porch across the entire back and 30' across the front. A modification to the front will be the addition of a gable across 25' on the left side. The living area will be brought forward under this gable to be flush with the front porch.
I don't have my floor plan with me at work today, but will bring in tomorrow and fax you a copy.
Phillip Allen
713-853-7041
[email protected]
---------------------- Forwarded by Phillip K Allen/HOU/ECT on 04/25/2001 12:51 PM ---------------------------
Hunter S Shively
03/26/2001 10:01 AM
To: [email protected]
cc:
Subject: | {
"pile_set_name": "Enron Emails"
} |
The contestants ain't got a chance!
-----Original Message-----
From: GRIFFIN, BARBARA [SMTP:[email protected]]
<mailto:[SMTP:[email protected]]>
Sent: Tuesday, April 17, 2001 8:23 AM
To: ALAN ALVESTAD (E-mail); Dheineke@tsteel <mailto:Dheineke@tsteel> .
COM Dheineke@tsteel <mailto:Dheineke@tsteel> . COM Heineke (E-mail);
K5GAT@AOL <mailto:K5GAT@AOL> . COM K5GAT@AOL <mailto:K5GAT@AOL> . COM com
(E-mail); Kim Howry (E-mail); Lynda Munkres (E-mail); lvan_johnson@hotmail
<mailto:lvan_johnson@hotmail> . com lvan_johnson@hotmail
<mailto:lvan_johnson@hotmail> . com com (E-mail); NealS@Hump
<mailto:NealS@Hump> . com NealS@Hump <mailto:NealS@Hump> . com com (E-mail);
PGordon@SFASU <mailto:PGordon@SFASU> . EDU PGordon@SFASU
<mailto:PGordon@SFASU> . EDU (E-mail); Raymond Parker (E-mail);
TEaker1065@aol <mailto:TEaker1065@aol> . com TEaker1065@aol
<mailto:TEaker1065@aol> . com com (E-mail); Virginia James (E-mail)
Subject: FW: Subject: Survivor 2
-----Original Message-----
From: [email protected] <mailto:[email protected]>
[mailto:[email protected]]
<mailto:[mailto:[email protected]]>
Sent: Monday, April 16, 2001 7:36 PM
To: [email protected] <mailto:[email protected]>
Subject: Fwd:Subject: Survivor 2
Subject: Survivor 2
A major network is planning the show "Survivor 2" this winter. In
response,
Texas is planning "Survivor: Texas Style." The contestants will
start in Dallas, travel through Waco, Austin, San Antonio, over to
Houston,
and down to Brownsville. They will proceed up to Del Rio, on to El Paso,
then to Midland/Odessa, Lubbock, and Amarillo. From there, they proceed to
Abilene, and on to Ft. Worth and back to Dallas.
Each will be driving a pink Volvo with a bumper sticker that reads, "I'm
gay, I voted for Al Gore, and I'm here to confiscate your guns."
The first one to make it back to Dallas wins. | {
"pile_set_name": "Enron Emails"
} |
Please see the following articles:
Houston Chron, Sun, 4/1: "Corporate greed isn't to blame for energy crisis
in California"
Sac Bee, Mon, 4/2: "Report: Potential rate hike included in California power
talks"
San Diego Union, Sun, 4/1: "Davis softens on rate hikes; Democrats fear
backlash"
San Diego Union, Sun, 4/1: "Some question value of transmission lines"
LA Times, Mon, 4/2: "This Summer, Power-Hungry U.S. May Feel West's Pain"
LA Times, Mon, 4/2: "State, Edison Discussed Pact to Pay off Firm's Huge
Debt"
LA Times, Mon, 4/2: "Vegas lights Undimmed"
SF Chron, Mon, 4/2: "Power Crisis Batters Budget
Stock slide, rate increases erode state's revenue "
SF Chron, Sun, 4/1: "Davis Blames Crisis On State Republicans
But Democratic controller points at governor "
SF Chron, Sun, 4/1: "Rate Increases May Be Just Beginning
Unanswered questions now may mean higher bills soon "
SF Chron, Sun, 4/1: "Energy Department Rethinking Clinton Appliance
Efficiency Rules "
SF Chron, Mon, 4/2: "Hydrogen Powers Energy Hopes
Experts say it may be the fuel of the future "
Mercury News, Sun, 4/1: "Consumers bemoan formula for power-rate hikes"
Mercury News, Mon, 4/2: "High energy prices place firms higher in Fortune
500 ranks"
Mercury News, Mon, 4/2: "As energy policy lurches, is Gov. Davis in charge?"
(Editorial)
Orange County, Mon, 4/2: "Businesses battle the blackouts" (Commentary)
Individual.com, Mon, 4/2: "California ISO Declares Stage Two Electrical
Emergency;
Continued Conservation Urged as Power Supplies Remain Limited"
Individual.com, Mon, 4/2: "[B] PG&E says it will take $4.1 bln charge on
uncollected
power costs (Wrap)"
------------------------------------------------------------------------------
---------------------------------------------------
OUTLOOK
Outlook
Corporate greed isn't to blame for energy crisis in California
JERRY TAYLOR, PETER VANDOREN
04/01/2001
Houston Chronicle
4 STAR
4
(Copyright 2001)
TO hear California's politicians tell it, heartless power- generating firms
are the cause of the high price of West Coast electricity.
Deregulation, the populists claim, allowed them to sell electricity at
astronomical prices in an utterly dysfunctional wholesale market. The Federal
Energy Regulatory Commission has now joined the witch hunt, ordering power
generators to refund the state of California $124 million for "overcharges"
during the power emergencies in January and February. The only problem with
price controls, we're told, is that they're not more aggressively applied.
Have we learned nothing from economic history?
The commission maintains that it cost 27 cents on average to produce a
kilowatt hour of electricity during peak demand periods last January.
California regulators, however, report that they paid an average of 28 cents
for that power on the daily spot market. During February, wholesale natural
gas prices exploded, resulting in production costs of 43 cents per kilowatt
hour. Unfortunately, no published data exist to discern what that power
actually sold for. But given the size of the commission-ordered rebates and
the extent of the markups observed in previous months, it's unlikely that
wholesale prices were more than a few cents higher on average than production
costs. Nonetheless, because the commission's mission is to prohibit "unjust
and unreasonable" wholesale prices, the commission wants the generators to
give back the difference charged during the power emergencies earlier this
year.
The economic populists have seized on those commission orders as proof that
they're being robbed blind. But hold on a minute: The commission's data
clearly show that high wholesale electricity prices (which hovered around 3
cents per kilowatt hour before the crisis hit last year) are primarily the
result of higher production costs, not corporate greed. To be sure, industry
analysts believe that actual production costs during power emergencies are
far higher than the commission believes, but at least the commission has
recognized that input prices explain most of the spike. The upshot is that
higher production costs would have sent wholesale electricity prices through
the roof even if the Legislature had not "deregulated" its electricity market
in 1996.
The commission also implicitly concedes - rightly - that the highest cost
source of supply needed to meet demand is the legitimate price for all power
sold in the state. For instance, the cost of producing a kilowatt hour of
nuclear, coal, or renewable-fired electricity ranges from 2 cents to 6 cents,
but the commission does not propose to require those generators to price at
cost.
Given the overall shortage of electricity in the Western region, the
commission grants those power generators the right to charge what the market
will bear.
But wait: Why is it OK with the commission if some generators charge what the
market will bear, but not OK for other generators to do likewise? Top
electricity economists spanning the ideological spectrum agree that power
supplies are so tight in the West that most natural gas-fired generators can
charge more than their costs and still find willing buyers. Not only is this
not a crime were it to occur in any other market, it's necessary if
electricity is to be allocated to those who need it the most.
For the sake of argument, let's assume that about a nickel out of each
kilowatt hour sold during the peak demand periods in January represents
"profiteering." If so, don't blame the free market . . . it doesn't exist. In
California, generators can charge whatever they want during a crisis without
fear that the prices they name will reduce sales because the state insists
upon maintaining retail price controls. This is called a "dream scenario."
Without those rate caps, generators would find that high prices reduce sales,
providing a disincentive against charging the moon. The upshot is that retail
price controls are themselves primarily responsible for whatever mischief
exists.
Still, we're arguing about a nickel out of a bill of 28-45 cents per kilowatt
hour. That's a lot of to-do about relatively nothing. Drum all those alleged
excess profits out of the market and we're still in a world in which
California ratepayers are getting one heck of a free ride. Even with the 40
percent rate hike passed last week, California ratepayers are still paying
only one-third to one-fifth the cost of the power they are consuming.
You don't need a Ph.D. in economics to understand that subsidies like that
will inevitably result in excessive consumption, scarcity and blackouts.
Those who think that denying the laws of supply and demand are the best way
out of this mess will soon be pondering such thoughts in the dark.
Drawing: (p. 1)
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
------------------------------------------------------------------------------
-------------------------------------------------------------------
Report: Potential rate hike included in California power talks
LOS ANGELES (AP) -- The state's negotiations to buy power lines from ailing
Southern California Edison included a draft proposal that could mean another
rate hike for customers, the Los Angeles Times reported Monday.
The newspaper said it obtained a 40-page draft memorandum of understanding,
dated last week, that among other things could obligate Edison customers to
help pay the utility's massive debt through a "dedicated rate component" --
potentially a rate hike -- even if no power line deal is reached.
The component, which wasn't specified, wouldn't show up in bills for two
years, according to the draft.
The document was dated Tuesday -- the same day that the state Public
Utilities Commission approved record rate increases of up to 42 percent for
Edison and 46 percent for PG&E.
The PUC was scheduled to meet Monday to determine how best to hear from as
many different groups as possible before implementing the increase.
A spokesman for Gov. Gray Davis said Sunday that the draft memorandum -- one
of several floated in the state's ongoing, nearly two-month-old talks with
Edison -- already is obsolete.
"This draft is ancient history," Steve Maviglio said. "We have moved beyond
that, and continue to make progress and hope to be able to make an
announcement shortly." He did not provide other details.
On Friday, Edison officials described as "very active" talks with the
governor's office over the sale of its transmission lines to give the
struggling utility a cash infusion. But SCE chief financial officer Ted
Craver said a deal was not imminent.
In addition to Edison, Davis wants to buy electrical lines from Pacific Gas &
Electric Co. and San Diego Gas & Electric Co. for a combined total of about
$7 billion.
Edison and PG&E say they've lost nearly $14 billion since June to high
wholesale prices.
Talks between the state and PG&E are awaiting the outcome of the Edison deal,
PG&E spokesman John Nelson said Sunday.
Meanwhile, the Bush administration on Sunday reiterated its opposition to
price controls as a method of halting soaring energy costs, including
California's.
"Our view is that price caps on energy create shortages. They created the gas
lines of the 1970s," U.S. Energy Secretary Spencer Abraham said on ABC's
"This Week."
"If we did them in California, for instance, where this call has gone out,
we'd have more blackouts this summer, they'd last longer, and they'd go on
into the future," Abraham said.
As for helping the state, "we're doing the most that we can," Abraham said.
"But as I've said, we don't have a generator in the basement of the
Department of Energy where I can automatically send electricity, whether it's
to California or another part of the country."
------------------------------------------------------------------------------
----
Davis softens on rate hikes; Democrats fear backlash
By John Marelius?
UNION-TRIBUNE STAFF WRITER
April 1, 2001
ANAHEIM -- Gov. Gray Davis all but abandoned his once-adamant opposition to
electricity rate increases yesterday as angst over the potential political
fallout from the energy crisis dominated what had been planned as a weekend
of celebrating Democratic electoral gains in California.
In a speech to the California Democratic Party Convention, the governor
sketched the outlines of an alternative he is expected to propose to the rate
increases of up to 46 percent approved last week by the state Public
Utilities Commission.
"If a rate increase becomes absolutely necessary to keep our lights on and
keep our economy strong, you can be sure of one thing from this governor:
I'll fight to protect those least able to pay, reward those who conserve the
most and motivate those who are the biggest guzzlers to cut back," Davis
said.
Some question value of transmission lines
?
Meanwhile, state Controller Kathleen Connell pointedly decried a "delaying
and incremental" approach to the energy crisis and warned of a voter backlash
against Democrats in next year's elections.
"Just ask President Jimmy Carter what happens when you stall and you don't
solve the gas-line problem," Connell said. "We don't want to have that happen
to California Democrats."
Davis, who has a history of animosity with Connell, shrugged off the unstated
but obvious critique of his handling of the crisis.
"Everyone's entitled to their point of view, but I believe that we've moved
at warp speed to address this problem," he said. "I'm pleased that we've been
able to keep the lights on most days. .?.?. Maybe if she's not happy with
that, she can run for governor next time."
One analyst speculated that may be exactly what Connell has in mind. She is
running for mayor of Los Angeles but is not expected to be a major factor,
and term limits prevent her from seeking a third term as controller next
year.
"It's the opening salvo in the 2002 Democratic primary campaign," said Sherry
Bebitch Jeffe, a political scientist at the University of Southern
California. "I don't know how else to interpret it."
With the election of President Bush and Republicans in control of Congress,
the Democratic Party finds itself in its weakest position nationally since
the Eisenhower administration. Yet in California, Democrats are in their
strongest position in decades as they hold all but one statewide office and
wide majorities in the state congressional delegation and both houses of the
Legislature.
A succession of convention speakers -- U.S. Sen. Barbara Boxer, House
Minority Leader Dick Gephardt of Missouri and Democratic National Committee
Chairman Terry McAuliffe -- excoriated Bush's assault on Democratic
environmental and worker safety regulations and held up the California
Democratic Party as a national model for Democratic electoral success.
"If every Democratic Party in the country did what California did for House
Democrats, I would have the (House speaker's) gavel today," Gephardt said.
For the first time, Democrats are holding their state convention in Orange
County, a Republican stronghold where Democrats have been making solid
inroads because of the steady influx of immigrants from Asia and Latin
America.
"This ain't your grandfather's Orange County," Davis crowed. "You know,
Orange County has a Republican past, but it has a Democratic future."
Such self-congratulation was tempered by the awareness that because Democrats
hold such a position of dominance in California, voters will expect them to
solve the electricity problem even as Democrats continue to blame it on the
deregulation policies of former Republican Gov. Pete Wilson.
"There will be no excuses for Democrats in this state because we dominate
state government," Connell said.
She warned that continued "finger-pointing" would not solve the problem.
Other speakers continued to hammer away at Wilson as some of the walls in the
Anaheim Convention Center bore posters reading, "Wilson did it." And then
there was the message inside the fortune cookies: "Energy fiasco. DNA proves
Wilson at crime scene."
"What the voters have to understand is that we inherited this crisis," said
California Democratic Party Chairman Art Torres, who was elected to a second
four-year term yesterday. "Now we've got to deal with it, and we should be
held accountable on how we deal with it."
Davis remains a strong favorite to win re-election next year, but his
once-robust popularity apparently has taken a major hit in recent weeks,
especially when blackouts began rolling across the state.
"There are people polling and they show enormous deterioration in Davis'
numbers, and it looks like he's got some real political problems," said
Democratic strategist Bill Carrick. "But ultimately, he's going to be judged
on how he manages the crisis and can he get a solution on this before next
year that makes some sense to people."
For months Davis said electricity rate increases were out of the question and
recently claimed he could have solved the problem in 20 minutes if he had
been willing to entertain them.
When the PUC voted its increase for Pacific Gas and Electric Co. and Southern
California Edison Co. on Tuesday, Davis called the action premature, but did
not offer an alternative. Yesterday, he said he was consulting with financial
analysts and would propose a rate plan before the end of the 30-day period
before the action of the independent commission becomes final.
"I will have a fuller statement within the next two weeks, at which time I
will speak to what if any rate hike I think is appropriate and how tiered
pricing should be implemented," the governor said.
Davis lashed back at Republican legislators who have escalated their
criticism of his handling of the crisis. He blamed the GOP for the ill-fated
1996 deregulation without mentioning that the plan cleared the Legislature
with unanimous Democratic support.
"The Republicans who were so enamored with deregulation just five years ago
have become even more enamored with criticizing me as I try to clean up their
mess," Davis said. "May I remind our Republican friends that this
deregulation disaster was authored by a Republican legislator, passed by a
Republican Assembly, signed into law by a Republican governor and implemented
with undue haste by a Republican PUC."
------------------------------------------------------------------------------
----
Some question value of transmission lines
By Jeff McDonald?
UNION-TRIBUNE STAFF WRITER
April 1, 2001
Transmission lines have been upgraded. Poles are taller and sturdier.
Electricity is shuttled farther and faster than ever before.
But like internal combustion engines or indoor plumbing, not much has changed
over the past 100 years in the fundamental design of the distribution network
that pushes power across North America.
The electric grid, a vast collection of wires and switches, has served
millions of homes and businesses since the late 19th century. The grid has
been expanded again and again, decade after decade.
Now, with Gov. Gray Davis negotiating to buy huge sections of the grid owned
by three cash-hungry California utilities, questions are being raised about
the long-term value of such a dated delivery system.
Is the web of power lines a key link in the supply chain whose worth will
climb higher and higher as demand for electricity grows? Or will looming
technology render the grid obsolete even before the state can pay off the
bonds it issues to buy the system?
"The usefulness of the grid is still intact -- it does work," said Mark
McLaughlin, a researcher with the Alternative Energy Institute, a Tahoe
City-based group that promotes renewable power sources.
But "it will become less important over time -- 10, 15 years," he said. "As
for being completely reliant on it, that is changing now and will continue to
change at an ever-increasing pace."
Technological advances already are redefining traditional electricity
delivery.
With blackouts crippling businesses across the state -- and additional
outages forecast for this summer -- more and more companies are investing in
so-called distributed generation, a broad term applied to any number of
devices that can make power on-site.
Increasingly popular products such as microturbines, cogeneration plants,
photovoltaic systems and residential fuel cells allow consumers to limit
their reliance on utility companies such as San Diego Gas and Electric.
"This (power) crisis has generated a huge amount of interest in the product,"
said Mark Kuntz of Capstone, a San Fernando Valley-based company that markets
30-and 60-kilowatt microturbines.
"We're in the process of responding to that interest and turning it into
orders."
The abundance of alternatives for businesses and homeowners has propelled a
new debate: what to do with the surplus power produced by distributed
generation systems.
Investors are banking that the electric grid will remain hugely valuable
because it can move energy in any direction.
"We are building a company around our bullishness on the grid," said Fred
Buckman, chairman of Trans-Elect Inc., a private Washington, D.C.-based
company that plans to spend $15 billion acquiring transmission lines.
"The deployment of smaller distributed generation systems will reduce the
rate at which we have to grow the transmission system, but we don't believe
it will replace the grid."
Trans-Elect bid up to $5 billion for the lines owned by Southern California
Edison, Pacific Gas and Electric, and SDG&E. But that offer was pushed aside
by utility company executives when it became clear that Davis wanted the grid
for the state of California.
More important to utilities, however, may be the eventual sales price.
Edison agreed in principle to sell its share of transmission lines to the
state for $2.76 billion. But details of that proposed deal -- announced in
February -- remain to be worked out.
In the meantime, lawmakers are growing anxious about continuing delays. Some
legislators say Davis should rethink buying the grid and instead consider
acquiring the utilities' hydroelectric networks.
The $2.76 billion price tag for the Edison lines is about 2.3 times the their
book value -- the base worth used by regulators to set rates of return.
If PG&E and SDG&E reach similar deals with the governor, the cost of
acquiring some 32,000 miles of transmission lines could reach $7.4 billion --
too much, some consumer advocates worry, to make the transaction a good deal
for ratepayers.
Public ownership of the grid would give the state a powerful hand in dealing
with federal energy regulators, who so far have refused to rein in power
generators, consumer groups say.
The acquisition also would curtail unnecessary additions to the system,
investments that provide guaranteed profits to the current owners, activists
say.
"The state isn't looking to make money expanding the system," said Michael
Shames of the Utility Consumers' Action Network. "The state can establish a
policy that says no new grid will be built where distributed generation can
substitute."
But many experts believe that even as microturbines, fuel cells, windmills,
solar power and more cogeneration plants take root in coming years, the grid
will be needed to deliver surplus power to other places that can use it.
Without having ways to move power from place to place, a major benefit of
distributed generation would fall by the wayside.
"The only way small assets are useful is if they can be shared when some
power isn't needed, and you can't do that without a grid," said Mark P.
Mills, an energy consultant and co-editor of the Digital Power Report.
"The grid becomes more important the more you distribute things."
Nancy Floyd is a co-founder of Nth Power, a San Francisco venture capital
group that seeks investment opportunities in utility innovations --
particularly the transmission and distribution of electricity.
Five years ago, the firm had $50 million to spend. By 1999, the investment
pool had climbed to $350 million. Last year, the company portfolio soared to
$1 billion.
"This is an area that's attracting a lot of capital, which means you're going
to have a steady stream of new products and services," Floyd said. "That is
the bright side of deregulation."
Pure Energy Corp. of Syracuse, N.Y., has operated the Iceoplex cogeneration
plant in Escondido since 1994. It sells its 50 or so megawatts to SDG&E,
which transmits the power over the grid for use by its customers.
The firm has been floating plans to double capacity at the plant just east of
Interstate 15, but company executive Jack Wolf said a ruling by California
regulators last week has him rethinking expansion plans.
Adding new turbines or cogeneration plants can rub neighbors the wrong way.
Smokestacks billow out steam, which some residents say is unsightly even if
the plume of white is only harmless water vapors.
Wolf said his company met several times with Escondido residents to iron out
concerns about boosting capacity at the Iceoplex.
"If you're doing something like (expanding), you've got to meet with the
communities, understand what their concerns are and work with them," Wolf
said.
Taxpayer advocates, meanwhile, do not worry whether the grid will remain
viable over the next decade or two. Instead, they fear the government
takeover of an aging network of poles and wires.
"You're going to be socializing a massive infrastructure," said Jonathan
Coupal, director of legal affairs for the Howard Jarvis Taxpayers
Association.
"The state of California can't even maintain the damn roads," he said. "Now
we're going to be taking on not only the purchase but the ongoing maintenance
of a huge infrastructure?"
At the National Renewable Energy Laboratory in Golden, Colo., researchers
work to improve the efficiency of alternative energy programs and promote
their use among mainstream consumers.
But even as workplaces and neighborhoods across the country move toward
supplying their own power, the transmission system will remain a vital part
of the network that delivers electricity from place to place, experts say.
"Will the grid be obsolete in 20 years? Absolutely not. Things don't move
that fast," said George Douglas of the National Renewable Energy Laboratory.
"But we need to be forward-looking.
"If each office park and subdivision has its own power source, that doesn't
mean you don't want them linked, because things do fail."
Stanford S. Penner, director of the UCSD Center for Energy Research, is
convinced that the power grid will remain critical for decades to come.
History has shown that implementing new technology takes far longer than
inventing it, he said.
"The turnover by a new technology has usually taken 40 to 50 years," he said.
"Twenty years from now, they will still be relying on the transmission lines.
Forty years from now, they may be starting to phase them out."
------------------------------------------------------------------------------
--
This Summer, Power-Hungry U.S. May Feel West's Pain
By ERIC SLATER, Times Staff Writer
?????CHICAGO--California's electricity meltdown has been so spectacular that,
until recently, much of the rest of the country was sitting back, feet up,
watching the rolling-blackout show on television.
?????No longer. As summer approaches, utility operators across the nation are
scrambling to shore up their own systems, many of which are themselves in the
murky middle of deregulation and in varying states of neglect and disrepair.
?????In Chicago, the recently overwhelmed power provider actually advises
competitors on where to build power plants. In New York City, officials say
the difference between light and dark this summer may be 11 mini-generators.
And in states from Arkansas to North Carolina, legislators are watching
California's deregulation fiasco and slamming the brakes on their own plans.
?????The West is bound to suffer the most this summer, experts agree, but
it's going to feel long and hot across much of the rest of the country,
whether it really is or not. And with the economy already sputtering, the
largest power shortage since the Arab oil embargo of 1973 could be nudging
the country toward recession.
?????"Pray for continuous clouds," advised San Francisco-based energy
consultant Edward Kahn.
?????A good word for cheaper gasoline in the Midwest, strong backs for coal
miners in the South and lower natural gas prices from coast to coast might be
in order as well.
?????In the U.S., electricity flows a bit like water in that the two largest
grids separate roughly along the Continental Divide. Power generated in the
West stays there, for the most part, and likewise the juice in the East.
(Texas has its own grid.)
?????With California, the world's sixth-largest economy, continuing to
founder after its steady diet of deregulation mistakes, the other 10 mostly
rural states in the Western grid are likely to suffer as well. As Rep. Jay
Inslee (D-Wash.) put it: "You can, today, see blackouts coming, big as life,
and an energy crisis going into the fall."
?????The Eastern Interconnect, however, is larger than its Western sibling,
more diverse in its sources and more complex in its physical structure, and
thereby protected from some Western-style utility woes. But, from a serious
transmission-line bottleneck near Eau Claire, Wis., to a 28-year-old Florida
law that some say is stifling much-needed growth, the Eastern grid has its
own kinks, soft spots and weaknesses.
?????If things start getting out of hand on this side of the Rockies, the
first fissure is likely to appear in the last place a fissure is needed: New
York.
?????When rates for many California customers shot up by as much as 46% last
week, New Yorkers could commiserate. They have seen their rates rise 40%
since 1999. A sweltering July or August could send prices up an additional
50%, some analysts predict. As in California, New York has deregulated its
power industry, so the market, not the state, sets the price. And as in
California, New York is heavily dependent on natural gas to fire its
generators--a commodity whose price has skyrocketed recently.
?????New York, again like California, also fell behind in the construction of
new plants--the last one going up in 1995--even as demand was growing
dramatically.
?????Now the city's power provider, Consolidated Edison, figures it has a
thin insulation of extra kilowatts to get it through the summer--unless it's
a bad one. Just in case, Con Ed wants to sprinkle the 11 mini-generators
throughout the city. Environmentalists, concerned about the air pollutants
the generators will kick out, have already filed suit to stop the plan.
?????Upstate New York has electricity surpluses ready to sell to the Big
Apple. So does the nearby PJM (Pennsylvania, New Jersey, Maryland)
Interconnection, which serves more than 22 million customers along the
Eastern Seaboard and has deregulated cautiously and effectively.
?????But "New York City--even assuming those generators come on line--is
going to be nip-and-tuck," said Bill Brier, vice president of Edison Electric
Institute, which represents private utilities.
?????The reason: Transmission bottlenecks make it all but impossible for the
city to import power on especially bad days. The Eastern grid is a much more
intricate web than that in the West, a mesh of more and smaller lines
ferrying electricity to a more evenly distributed population. But
deregulation has fundamentally changed how the grid is used without preparing
it for its new free-market role.
?????Constructed as a heavily regulated series of channels for efficiently
floating power from one utility with extra power to another in need, the grid
is now open to private electricity merchants who sell to the highest bidder.
In 1996, 25,000 transactions took place on the grid, according to the Edison
institute. By 1999, that figure had rocketed to 2 million.
?????"That," said Brier, "is why you're having more and more bottlenecks in
the system."
?????While deregulation has forced utilities to open up their transmission
lines to competitors, it has also allowed the marketplace--rather than
need--to dictate where new lines are strung.
?????In Minnesota, state officials would like new lines to come in from the
west and north, bringing cheap power from the Dakotas and Canada. But
Minnesota utilities would rather build lines in the opposite direction,
enabling them to sell power to Chicago and Milwaukee for perhaps twice the
price they're getting from Minnesota customers.
?????Of course, the utilities are running into the problem that always
accompanies proposed construction of 13-story metal towers buzzing with
megawatts: massive public opposition. In Wisconsin, a powerful grass-roots
group called Save Our Unique Lands calls one proposed line a "250-mile scar"
and points out that the line would go primarily to benefit not Wisconsinites
but their oft-derided urban neighbors, Chicagoans.
?????Just two years ago, Chicago, not California, was the daytime nightmare
of the electrical world. A summer of blackouts large and small began in July,
when more than 100,000 customers lost power on a 104-degree day, and
continued on and off for weeks, with 30 blocks of the central business
district going black for hours one Thursday afternoon.
?????Mayor Richard M. Daley went ballistic when Commonwealth Edison revealed
it couldn't warn of rolling blackouts because it wasn't sure how its
byzantine cable system works. After hundreds of millions of dollars in
upgrades, Chicago will still be vulnerable to blackouts this summer. But the
outages will be isolated problems of overload or mechanical breakdown, not
the systemic failures likely in the West.
?????In Illinois, restructuring that began in 1997 has gone relatively
smoothly, and the state and much of the Midwest has benefited from solid
policy and a decent amount of luck.
?????Just over half of Illinois' power comes from coal-fired plants, which
are cranking it out at a fraction of the cost of natural gas-driven
generators. An additional 42% comes from Illinois' 11 nuclear power
plants--more than any other state.
?????Only recently the ultimate utility albatross, nuclear reactors are
gaining some favor in the Bush administration. Operated by ComEd, which is
still working hard to burnish its image after the 1999 blackouts, every
reactor in Illinois is not only up and running but at record output,
according to David Helwig, ComEd vice president for operations.
?????In a brilliant public relations move, ComEd also printed maps of the
best sites for new generators and handed them out to competitors. With less
stringent environmental laws than in California, which hasn't built a major
plant in a decade, Illinois has continued to build.
?????More than 3,000 megawatts went online last year--about 10% of the
state's total load--and 10,000 more are planned for this year. "If we have a
problem in the Midwest, it's not going to be with generation, it's going to
be with the transmission grid," said Terry Harvill of the Illinois Commerce
Commission.
?????When the Eau Claire-Arpin line in Wisconsin overloaded at the same time
as a transformer in southeastern Ohio in June 1998, the Midwest became all
but isolated from the rest of the Eastern grid. And the incident demonstrated
dramatically another problem of deregulation that could still haunt the
system this summer. As operators scrambled to stave off blackouts, prices on
the spot market skyrocketed from $25 per megawatt hour to $7,500 per megawatt
hour.
?????Tom Overbye, an electrical and computer engineer at the University of
Illinois at Urbana-Champaign, wrote about the incident in a paper on
deregulation's effect on the power grid. "Imagine your consternation," he
wrote in American Scientist, "if one day you pulled into a gas station and
discovered the price had increased three-hundredfold, from $1.50 per gallon
to $450 per gallon."
?????The South, with its massive coal reserves, slow population growth and,
for the most part, a go-slow approach to deregulation, is likely to weather
its typical summer swelter, with one possible exception: Florida.
?????With a fast-growing population and a huge predicted shortfall of 11,000
megawatts over the next eight years, Florida had been a key target of
merchant operators looking to build. "Everyone saw Florida as the place to
go," said Rick Rhodes of Duke Energy, a major private supplier.
?????But when Duke prepared to build a 514-megawatt plant in New Smyrna, the
state's three investor-owned utilities filed suit under a nearly 3-decade-old
law restricting the entry of power wholesalers into the state. The Florida
Supreme Court ruled for the utilities, and Duke and other merchants planning
to build certain types of plants have, for the time, shelved their plans.
?????When it comes to transmission, Florida has another problem. Out-of-state
power can come from but one direction: north.
?????Supporters of deregulation are swift to point out that tinkering with a
$218-billion industry is bound to be painful at first and that while
California's debacle will take years to solve, other states will learn from
its experience.
?????As spring settles in, the Great Lakes thaw and half a dozen legislatures
begin tinkering anew with deregulation plans, a less optimistic school of
thought appears to be developing. "The California situation is so bad that it
confuses people," said Harvard University energy economist William H. Hogan.
"It scares people. It paralyzes people. . . . They learn the wrong lessons
and do the wrong things to fix it."
Copyright 2001 Los Angeles Times
------------------------------------------------------------------------------
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State, Edison Discussed Pact to Pay Off Firm's Huge Debt
Proposed deal would commit customers to aiding utility even if that meant
another rate hike. Davis spokesman says memo has been changed significantly.
By DAN MORAIN, Times Staff Writer
?????SACRAMENTO--A draft agreement between the Davis administration and
Southern California Edison would seek to return the utility to financial
stability by committing ratepayers to help pay off its multibillion-dollar
debt in future years even if the state's proposed purchase of Edison's
transmission system falls through. ?????The proposal, which could translate
into yet another electricity rate hike on top of the record increase approved
last week, contains provisions that would assure investors and creditors of
Edison's ability to dodge bankruptcy. Yet those elements appear certain, if
they remain in the final version, to anger some consumer advocates and
lawmakers.
?????As negotiations continue between Edison and the administration, a
spokesman for the governor cautioned that the draft, dated last Tuesday and
obtained by The Times, has been updated and changed significantly.
?????Nevertheless, the 40-page memorandum of understanding lays out the most
detailed framework yet of the administration's attempt to avert the utility's
bankruptcy. Gov. Gray Davis has made a state rescue of debt-ridden Edison and
Pacific Gas & Electric Co. a key part of efforts to tame California's energy
crisis. Negotiations with PG&E have lagged, but officials believe a deal with
Edison could set the stage for similar agreements with the other utilities.
?????"This draft is ancient history," Davis spokesman Steve Maviglio said
Sunday of the document dated six days ago. "We have moved beyond that, and
continue to make progress and hope to be able to make an announcement
shortly."
?????Executives of Rosemead-based Edison could not be reached for comment.
?????There is at least one more recent draft, officials said. But the
document from Tuesday reflects the direction of negotiations. Internal memos
dating back weeks describe similar elements in the discussions.
?????The talks have been going on behind closed doors for almost two months.
Even legislative leaders, including Davis' fellow Democrats, have learned
little about details of the talks--to their dismay.
?????"I have no idea what's in the memorandum of understanding," Senate
President Pro Tem John Burton (D-San Francisco) said Sunday. "But the
Legislature is going to hold very comprehensive public hearings, so we know
what we're getting into. . . . Whatever the deals are, we're going to have
very full and open hearings: What is it we're getting? What is it we're
giving? And what is the price?"
?????The draft shows, as previously announced, that Davis is offering to buy
Edison's portion of the 32,000-mile-long statewide system of high-voltage
transmission lines for $2.76 billion, or 2.3 times its listed book value. For
the transaction to work, Davis hopes as well to buy the portions of the grid
owned by PG&E and San Diego Gas & Electric Co., for a total price of about $7
billion.
?????The document says the state would buy the transmission grid "as is,
where is, and with all faults" and would contract with Edison to operate its
portion at a price to be negotiated. If the state decides to sell the grid at
some later date, Edison, like other businesses, would have the right to bid
to buy it back.
?????Edison would use cash from the purchase to help pay off its massive
debt--the gap between skyrocketing wholesale electricity prices and what the
utility was allowed to charge ratepayers. In federal filings, Edison has
estimated that debt at $5.5 billion; barring regulatory or legislative
relief, the utility's parent company said in its most recent filing, it may
take a $2.7-billion charge against earnings for the fourth quarter of 2000.
?????But the state takeover could fail for a variety of reasons; the Federal
Energy Regulatory Commission could, for example, block the state effort.
?????The document gives no specifics about a backup plan for the state to
acquire other assets if it fails in its efforts to take over the entire
transmission system. However, the draft does contain provisions that would
allow Edison to again become financially viable.
?????In particular, the draft agreement says consumers could be obligated to
pay a so-called dedicated rate component to help the utility restructure its
debt, even if the grid sale is not completed. The memorandum further states
that the charge would not appear in rates for two years, and that the debt
would be repaid over 12 years.
?????The charge, at an amount not specified in the draft agreement,
presumably would be on top of electricity rate hikes approved last week that
could be as high as 46% for some users. As such, the charge would face
certain opposition from Republican lawmakers, who have criticized the rate
hikes, and from some Democratic legislators, who are increasingly skeptical
about Davis' handling of the crisis.
?????Consumer advocate Mike Florio of the Utility Reform Network explained
the provision by saying it may simply authorize Edison to begin restructuring
its debt, pending final approval of the highly complex transmission grid
sale, which could take a year or more to consummate.
?????"This is a huge transaction," Florio said. "They can't wait until the
deal is signed, sealed and delivered."
?????But V. John White, of the Center for Energy Efficiency and Renewable
Technology, among the first lobbyists to float the idea of a state takeover
of the utilities' transmission systems, said some terms outlined in the
tentative agreement are causing him to rethink his position.
?????"I don't see where the public benefits are," White said of the overall
deal. "The price of the transmission sale is a complete capitulation to
Edison."
?????The tentative agreement contemplates that the California Public
Utilities Commission, which has the responsibility to regulate the state's
investor-owned utilities, would lose the ability to make at least some
decisions.
?????The agreement says, for example, that Edison's credit-worthiness and
ability to finance improvements to its remaining holdings would require
"greater certainty in respect of [Edison's] ability to earn a fair return on
invested capital."
?????Toward that end, the tentative agreement would limit the PUC's ability
to pare back the utility's current 11.6% authorized rate of return on
investment, the document says.
?????"Nothing like this has ever been done anywhere in the country," White
said. "This would be a regulatory jailbreak."
?????Among other provisions, the memorandum says Edison would drop its
lawsuit against the PUC seeking the right to pass on its wholesale
electricity costs to consumers.
?????The draft is dated the same day that the PUC approved a rate hike of
about 40% to cover the state's costs of buying electricity from independent
power producers. The state started buying electricity, at an average daily
cost of more than $50 million, after Edison and PG&E fell so deeply into debt
that they no longer were credit-worthy.
?????Executives at PG&E, the state's largest electric utility, have agreed to
consider parting with its portion of the transmission grid. But details
remain to be decided. PG&E spokesman John Nelson said Sunday that talks
between Davis and his company await the outcome of the Edison deal.
?????"It's not because there is any breakdown," Nelson said. "It is just that
they've concentrated their efforts on Edison."
Copyright 2001 Los Angeles Times
------------------------------------------------------------------------------
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Vegas Lights Undimmed
Despite soaring prices for electricity, the big hotel-casinos don't plan to
reduce their dazzling wattage outside. But they are cutting energy use
indoors.
By TOM GORMAN, Times Staff Writer
?????LAS VEGAS--The newspaper stories about California's electricity woes can
be read easily at night on the Strip, bathed in the brilliance of miles of
neon and a gazillion lightbulbs.
?????And Nevada utility officials expect it to stay that way through the
summer--when air conditioners work day and night to make the desert heat
tolerable--avoiding the power problems that have brought California to its
knees.
?????But that confidence is coming at a price: increased electricity rates,
to the consternation of the Strip's monster hotel-casinos. Between September
and April, rates will have increased by about 46%, driven by forces that are
pushing up energy costs nationwide.
?????The typical Strip hotel-casino uses about the same amount of electricity
as 10,000 homes, according to utility estimates. Like anxious homeowners,
hotel-casino operators are scouring their properties, looking for ways to
conserve electricity and--more important perhaps to Wall Street--save money.
?????At the MGM Grand, maintenance crews are working their way through the
5,005 rooms, changing lightbulbs to dimmer ones, reducing each room's
consumption to 500 watts from 750.
?????At the MGM and other hotels, incandescent bulbs are being changed for
more efficient fluorescent lights in many cases. Thermostats are being
installed to reduce air conditioning in unused convention rooms, and motion
sensors are being installed to keep the lights off in empty offices.
?????Even slot machines are part of the trend: The newest models consume
about 160 watts of electricity, 25% less than older models, said a spokesman
for the world's largest slots maker, International Game Technology.
?????But one thing won't change: blazing signs and extensive use of exterior
lighting to illuminate the resorts.
?????"Las Vegas has an image and a certain cachet it has to live up to, and
that includes the exterior lighting and the neon and the marquees," said John
Marz, a vice president of Mandalay Resort Group, which owns four big Strip
casino-hotels and operates a fifth.
?????"It's what people come here to see," he said. "And reducing those would
be the last thing we do."
?????Even as casinos look for places to cut corners, they're also fighting a
bigger battle in the state capital of Carson City to reverse the state Public
Utilities Commission's approval of a single, whopping 25% rate hike for
casinos, which took effect March 1. At the same time, residential rates
increased by nearly 15%.
?????The rate increases were sought by Nevada Power Co., which serves Las
Vegas and surrounding areas, and its sister utility in northern Nevada,
Sierra Pacific Power Co., to pay for electricity they already have contracted
to buy this summer. That one-time increase is in addition to rate hikes
approved earlier that are raising rates more than 1% a month, starting last
September and continuing until September 2003.
?????By the end of that three-year period, residential electricity rates will
have increased about 75%, and the rates charged casinos will have increased
by about 65%, said utility spokesman Karl Walquist.
?????The issue is simple, Nevada Power says: Customers must pay more for
electricity so the utility can remain solvent and buy power on the open
market. Otherwise, Walquist said, the state's two utilities will face the
same dire consequences that are playing out in California.
?????Through its own four power plants, Nevada Power generates about 2,000
megawatts. It buys another 300 megawatts from small, private generators in
Nevada, and another 230 from the federal hydroelectric plant at Hoover Dam.
?????Though the dam was built to create the Lake Mead reservoir, it was also
equipped to generate 2,000 megawatts of hydroelectric power, for sale to
agencies in California, Arizona and Nevada. However, it operates at only
about 30% capacity, based on the amount of water released through the
turbines for purchase by various California and Arizona agencies downstream.
?????Come summer, southern Nevada will need about 4,600 megawatts, nearly
double its winter demand. To meet the 2,100-megawatt shortfall, Nevada Power
has contracted for electricity generated in Utah, Arizona and Colorado.
?????The most jarring rate increase, yielding $311 million statewide in
higher revenue to pay for those advance purchases, was approved by the
state's PUC in February without public hearings.
?????That decision triggered an angry response from the state attorney
general's consumer advocate, as well as from the gambling and mining
industries.
?????They complained that the utilities had failed to publicly prove the need
for more money, and that the rate increase violated agreements between the
utilities and the PUC--with the casino industry's blessing--calling for the
small, measured rate increases every month.
?????A PUC hearing officer on March 23 heard testimony from the utilities and
a consumer group on the need for rate increases, and a PUC decision is
pending.
?????Nevada legislators and Gov. Kenny Guinn are immersed in the electricity
issue. The state began moving toward deregulation four years ago, but
reversed itself after watching California's problems unfold. Deregulation is
no longer on the state's radar screen.
?????Legislators also are attempting to block plans by the state's utilities
to sell their power plants so they can focus on transmission and
distribution. The lawmakers fear that if the utilities lose control of power
generators, Nevada will be even more at the mercy of private power companies.
?????In the meantime, the Strip's lights continue to shine brightly, and
utility officials say skeptics should not look too critically at them as
power hogs.
?????"They're very efficient, especially in terms of cooling as many people
as they do," said Mike Smart, vice president of resource management for both
Nevada Power and Sierra Pacific.
Copyright 2001 Los Angeles Times
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Power Crisis Batters Budget
Stock slide, rate increases erode state's revenue
Greg Lucas, Sacramento Bureau Chief
Monday, April 2, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/02/M
N218239.DTL
Sacramento -- Billions of dollars in electricity purchases, rate increases
that will drain money from the economy and a crumbled stock market are
shriveling California's state budget.
Even the modest estimates of revenue growth on which Gov. Gray Davis' budget
was based are being erased by the power crisis and the stock slide.
"The assumption we had in January is no longer a prudent assumption," said
Ted Gibson, chief economist at Davis' Department of Finance.
Although the flat economy is already pinching the state's cash intake, the
biggest hit will come at tax time 2002 -- 10 months into the budget Davis and
lawmakers are trying to put together before the new fiscal year starts on
July 1.
Next April there won't be the bonanza of capital gains and cashed-out stock
options the state has reveled in over the past two years.
Hard times in the dot-com world mean hard decisions for the Democratic
governor and lawmakers as they put together a spending plan.
On the Senate floor last week, President Pro Tem John Burton, D-San
Francisco, warned his colleagues not to expect too much from the budget
because the state was tapped out.
Everything from pork barrel projects to public schools could feel the pain.
A raft of one-time spending items are at risk: $250 million in aid to cities
and counties, $100 million to clean up beaches, $100 million to replace
higher-polluting diesel engines, $40 million in library improvements at state
universities.
The Senate has already cut $1.9 billion from the $102 billion spending plan
sent to them by Davis.
Davis' January budget expected the fiscal year to end with $5.8 billion in
reserve. Some $3.7 billion in electricity purchases have cut that reserve to
$2.1 billion with another $1 billion in energy buys authorized just for this
month.
That has led the legislative analyst to recommend that lawmakers take no
action on $2.3 billion in one-time spending proposed by the Democratic
governor.
"We're being very cautious because of the number of uncertainties," said Brad
Williams, chief economist at the legislative analyst's office.
There are several reasons for the worsening cash drain, which will hit
hardest next year but is already taking a toll on revenue collections.
One-fifth of the state's general fund revenue comes from capital gains and
stock options.
That won't be happening next April.
In January, Davis predicted state taxes paid on capital gains and stock
option income would be 10 percent less next year. And projections now are
that it will be even less.
As more companies use stock options as compensation for employees, the more
tightly the state budget is chained to the whims of Wall Street.
Last year, the state estimated that $84 billion in stock option income was
generated in California. Of that, just seven high-tech companies created half
of the income. Cisco Systems alone represented nearly 10 percent of the $84
billion.
Since November, the Nasdaq has lost 45.5 percent of its value, a huge hit for
California, the center of the dot-com high-tech universe.
For example, Cisco has fallen from roughly $55 a share to $16 a share, making
it unlikely any holders of stock options will cash out unless they have to.
Similar drops have occurred in other big technology companies like Sun
Microsystems, Intel and Oracle.
"The phase we saw the last several years will not return," said Tom Lieser
senior economist at UCLA's Anderson Business Forecast. "The days of the dot-
com millionaires are over."
"The technology sector will come back, but this year is going to be a tough
one, and next year may be transitional," Lieser said.
Income from investors realizing capital gains was originally expected to
reach nearly $94 billion this year and fall to $84.5 billion next year, but
budget analysts now say that next year's projections may be too optimistic.
If the stock market soars over the next eight months, the budget picture
could brighten.
Another budget plus could be the taxes collected this month. Stronger than
expected revenue would stanch some of next year's losses.
The economy's fade is already being felt. A slow holiday spending season last
year has led to less-than-expected sales tax collections for the state.
Sales tax revenue for February came in $165 million under estimates.
And withholding taxes, which are carved out of an employee's paycheck and
sent to the state, are expected to continue to grow, but not nearly at the
brisk rate as last year.
Then there's the energy crisis.
The state is tearing through $50 million a day to buy power for the cash-
poor utilities, with authorization for $4.7 billion in purchases.
"Even Bill Gates would feel that after a while," said Lieser.
So far, the agencies that decide California's credit rating aren't worried
because Davis and lawmakers plan to make the state whole by issuing bonds in
May or June.
That was one reason for the Public Utilities Commission's average 40 percent
electricity rate increase: to create a big enough revenue stream to make
investors more comfortable about buying the bonds.
The rate increase is going to take $4.8 billion from businesses and
consumers, money that might otherwise be spent in other parts of the economy.
Although total income in California last year was nearly $1.2 trillion, $4. 8
billion is still a chunk of change.
"It will be a factor depressing growth somewhat over the next year," said
Williams.
The economic effect of the energy mess is longer-term. How much will
blackouts hurt productivity? Will businesses expand in California or
somewhere else with a more reliable supply of energy?
Gibson says businesses are going to give the state 18 months to sort out its
energy problems which Gibson thinks the state will do.
"The silver lining is that the 2-by-4 has been applied to the donkey's head,
" Gibson said. "We've learned we have a problem with energy supply, and three
or four years down the road this will settle out, and we may even have a
surplus."
Grumbles Lieser: "The thing about this is it should have been foreseen.
People were warning us."
E-mail Greg Lucas at [email protected].
,2001 San Francisco Chronicle ? Page?A - 1
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Davis Blames Crisis On State Republicans
But Democratic controller points at governor
Carla Marinucci, John Wildermuth, Chronicle Political Writers
Sunday, April 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/01/M
N154353.DTL
Anaheim -- The politics of energy dominated the state Democratic convention
yesterday, as anxious delegates gave a lukewarm reception to embattled Gov.
Gray Davis, who clashed bitterly with party rival, Controller Kathleen
Connell.
Speaking at the Anaheim convention center, where dimmed lights were a
constant reminder of yesterday's Stage 2 alert, Davis blamed California's
energy woes on former Gov. Pete Wilson, Republican lawmakers and the Federal
Energy Regulatory Commission, which, he charged, has failed to regulate
greedy energy firms selling power at "out of control prices."
He insisted that he was not sure rate increases were necessary, refusing to
say whether he would support huge hikes backed by the Public Utilities
Commission last week. He suggested, however, that he favors a system of
tiered electricity pricing.
"These Republicans -- who were so enamored with deregulation just five years
ago -- have become even more enamored with criticizing me as I try to clean
up their mess," the governor said to tepid applause from the 1,900 delegates.
"This deregulation disaster was authored by a Republican legislator,
passed by a Republican Assembly, signed into law by a Republican governor and
implemented with undue haste by a Republican PUC."
But the governor's Republican-bashing was overshadowed politically by an
attack by state Controller Connell, a candidate for Los Angeles mayor -- who
rejected what she called Davis' "finger-pointing" and assailed his handling
of the crisis. The dramatic development demonstrated both deepening rifts
within California's ruling party and the high political stakes of the energy
crisis.
"There will be no excuses for Democrats in this state, because we dominate
state government," Connell said in a convention speech in which she also
outlined proposals to require "power hogs," such as malls, to install their
own microgenerators.
"I spent the past eight years making sure the state had a surplus, and now
I'm seeing it eaten away every day by energy costs. . . . Whatever solution
(the governor) provides must come fast and be shared openly with the people
of California," she said in a dig at Davis, who has been criticized for
moving too cautiously and for resisting disclosure of energy contracts to the
public.
Warning of the costs of "a delay and an incremental approach to an indefinite
problem," she said, "I won't stand by and allow the consumers to pick up the
tab."
DAVIS DEFENDS POLICIES
Asked to respond to Connell's critique, Davis told reporters, "I believe
we've moved at warp speed to address this problem. . . . We've kept the light
on most days."
The governor, who endorsed Connell's opponent, former Assembly Speaker
Antonio Villaraigosa for mayor, then added, "It might be if she's not happy
with that, she can run for governor next time."
Garry South, the governor's senior political adviser, was even more caustic,
lambasting Connell as a party infidel. "This is why Kathleen Connell doesn't
have a friend in all Los Angeles," he said. "She's been picking on the
governor since day one."
"It's all air," he said of her talk. "Not only hot air but a foul wind."
In an interview while campaigning later in the day, Connell toughened her
rhetoric, saying, "The emperor has no more clothes here in California."
"We are well into the fifth month (of the energy crisis) and we have yet to
find any answers from the administration," said Connell, who promised to
release her own detailed solutions to the crisis next week.
Unlike many Democrats at the convention, festooned with "Wilson Did It"
signs, she rejected as "irrelevant" the suggestion by Davis that Republicans
were to blame for California's energy woes.
"Californians are wearying of this finger-pointing and closed-door
negotiations and extended debate," she told The Chronicle. "The public is no
longer going to be patient with us. They're going to hold the governor
accountable when they get the bill."
CONNELL LAGGING IN POLL
Connell, who is forced by term limits to give up her post as controller next
year, has lagged in her campaign to become mayor of Los Angeles. With 10 days
to the election, a recent poll showed her running fourth behind City Attorney
James Hahn, Villaraigosa and businessman Steve Soboroff.
Despite Davis' words and speculation among delegates, Connell denied she was
eyeing the governor's seat for the future. "I'm not looking two or three
years down the line," she said. "But I hope the governor is looking toward an
immediate solution to this problem."
The governor's speech was his first since the PUC announced rate increases of
as much as 46 percent. Davis refused to say whether he would support the
immediate rate increase approved by the PUC but suggested that he would back
a tiered billing system.
"If a rate increase becomes absolutely necessary to keep our lights on and
our economy strong, you can be sure of one thing from this governor," Davis
said. "I'll fight to protect those least able to pay, reward those who
conserve the most and 'motivate' those who are the biggest guzzlers to cut
back."
He later dodged reporters' questions about specifics, repeatedly saying that
within the next two weeks he would release a statement detailing "what, if
any" increases were needed.
"Many advisers from Wall Street are running numbers, and they appear to be
different from the PUC's," he said.
Davis also said he has already done a lot to address the crisis and had "kick
started" construction of new power plants and successfully promoted
conservation programs.
Some of Davis' backers at the convention, watching the squabbling, expressed
concern about some of the governor's tactics.
"People want a leader to lead," said Susan Leal, San Francisco's city
treasurer. "They're looking for someone to come out and take command,
regardless of who started this."
But, she said, Davis is a tough and smart politician, and "people are still
going to be forgiving if (the governor) does something to attack the
problem."
OTHER DEMOCRATS BLAME GOP
Other Democratic Party leaders were also quick to defend Davis and to blame
Republicans.
Terry McAuliffe, chairman of the Democratic National Committee, suggested
that President Bush has ignored California's energy problems because "he's
worried to death about Davis running for president."
California is the world's sixth-biggest economy, McAuliffe noted in an
interview, and Bush "has basically written it off, saying, 'Good luck to you.
You're not getting any help.' "
Art Torres, chairman of the state Democratic Party, said Davis "is attacked
every day by the backbench Republican yahoos in the Legislature" and
predicted that public concern over energy would ebb by next year's election.
"We're looking at issues that are going to transcend the energy issues we see
now," Torres said, such as crime and violence in the schools, economics, the
environment and abortion.
But political analyst Sherry Bebich Jeffee said Connell's criticism was
evidence of a party split and perhaps "the opening salvo in 2002," when Davis
is up for re-election.
Davis's entire party, she said, could be in trouble if voters get fed up with
higher energy bills.
"Do the math," said Jeffee, noting that Democrats hold all but one state
office and control of the both houses of the Legislature. "If you're going to
throw the bums out, the bums in this state are mostly Democrats."
E-mail Carla Marinucci at [email protected] and John Wildermuth at
[email protected].
,2001 San Francisco Chronicle ? Page?A - 1
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NEWS ANALYSIS
Rate Increases May Be Just Beginning
Unanswered questions now may mean higher bills soon
David Lazarus, Chronicle Staff Writer
Sunday, April 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/01/M
N162185.DTL
When regulators passed an average 40 percent electricity rate increase last
week, they insisted this was the last time the state would be reaching into
consumers' pockets to pay for California's energy mess.
Don't bet on it.
Numerous questions remain about the costly bailout of the state's two largest
utilities and the billions of dollars in taxpayer money being spent to keep
California's juice flowing.
And a growing consensus has emerged: Rates almost certainly will go up again
before the worst is over.
"Based on what the state and utilities have been paying for electricity, 40
percent doesn't come close to covering it," said Linda Sherry, a spokeswoman
for Consumer Action in San Francisco. "It's going to be a nightmare this
summer."
Indeed, Gov. Gray Davis admitted last week that there are "a lot of moving
parts" to California's energy equation, and that it is too soon to say
whether additional rate hikes will be required.
More tellingly, the governor, after doing his best to distance himself from
the latest rate increase, opened the door to supporting future increases that
are "absolutely necessary for the good of the state."
MIXED MESSAGES
State leaders have yet to get their story straight. Earlier in the week,
Loretta Lynch, president of the Public Utilities Commission and a Davis
appointee, told The Chronicle that there probably would be no more rate hikes
this year.
"We think this will cover everything," she said of the PUC's decision to
approve a new 30 percent rate increase and make permanent an average 10
percent "temporary" increase adopted in January.
The move will allow utilities to raise an extra $4.8 billion a year from
customers -- although it remains up in the air where the bulk of the money
will go.
Consumer advocates say state officials are kidding themselves if they think
California has solved its energy troubles.
"This summer is when the energy companies will make the most mischief and
drive energy prices through the roof," said Harvey Rosenfield, head of the
Foundation for Taxpayer and Consumer Rights in Santa Monica.
Based on his group's calculations, and the fact that the state is burning
through about $50 million a day buying power on behalf of cash-poor
utilities, he said it is not out of the question to believe power bills will
go as much as 100 percent higher.
"There is no end in sight," Rosenfield said. "We are at the mercy of economic
terrorists, and you can't bargain with terrorists."
State Controller Kathleen Connell estimated the state faces a $7.4 billion
shortfall if it keeps spending money hand over fist on the volatile
electricity "spot" market.
She predicted that the state will shell out nearly $27 billion over the next
18 months to keep the lights on -- more than twice the amount in bonds that
California is authorized to sell to cover its payments.
Connell said she was "troubled by the fact that consumers already are being
rocked by a substantial rate increase, and I don't want them assuming that's
the total exposure."
For example, state officials have yet to address the roughly $14 billion in
debt hanging over Pacific Gas and Electric Co. and Southern California
Edison. Last week's rate increase will not be applied to that thorny problem.
Moreover, despite a PUC ruling that the utilities must repay the state
Department of Water Resources for more than $4 billion in recent power
purchases, that too remains a question mark.
Still to be determined: How will the limited revenues collected from
ratepayers be disbursed among the state, the utilities and smaller power
companies that have had to shut down recently because they are owed millions
of dollars.
"The state is at the front of the line," insisted Steve Maviglio, a spokesman
for the governor.
If so, this could leave the utilities and alternative energy providers with
nothing to cover their own expenses. The threat of bankruptcy, which has
hovered in the background for weeks, suddenly has become a more serious
concern.
NO GUARANTEE OF RELIEF
PG&E's chief executive, Gordon Smith, warned that even with higher rates, the
PUC's decisions to force payments to the state and change how the utility's
debt will be tabulated could exacerbate the situation.
"The actions do not offer a comprehensive solution, fail to resolve the
uncertainty of the crisis and may even create more instability," he said.
On Friday, PG&E's parent company, PG&E Corp., said it may have to write off
more than $4 billion in debt because of the changes. The company also said it
would delay release of its annual report, which was due to be unveiled
tomorrow.
"Every day, we calculate how this picture looks in Chapter 11 and out of
Chapter 11," PG&E's chief financial officer, Peter Darbee, told financial
analysts in a subsequent conference call. "Thus far, we have concluded that
shareholders are better off out of Chapter 11."
That "thus far" rang out loud and clear among listeners. Without more cash,
many came away thinking, the likelihood of PG&E declaring bankruptcy is now
substantially higher.
"The chance of further rate increases is certainly within the realm of
possibility," said Herbert Hart, research director at Redwood Securities
Group in San Francisco. "Somewhere down the line, the PUC will have to act
again."
E-mail David Lazarus at [email protected].
,2001 San Francisco Chronicle ? Page?A - 3
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Energy Department Rethinking Clinton Appliance Efficiency Rules
New York Times
Sunday, April 1, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/01/M
N178838.DTL
Washington -- The Energy Department is reviewing efficiency standards, issued
in the last weeks of the Clinton administration, that would require new
clothes washers, water heaters and central air-conditioners to use less
electricity and natural gas.
A spokesman for the department, Joseph H. Davis, confirmed that the new
standards were under review, as part of an effort ordered by the White House
to look at all regulations published in the last 60 days of the Clinton
administration.
People involved in the review said the standard under closest scrutiny was
the one governing air-conditioners. The rule requires that beginning in 2006,
new central air-conditioners run on 30 percent less electricity than under
current minimum standards of efficiency.
The new standards were adopted to meet the requirements of a federal law.
That legislation was adopted by Congress 14 years ago, but, as the Energy
Department sat down to work out the details in the mid-1990s, Congress
blocked the proposals.
,2001 San Francisco Chronicle ? Page?A - 3
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Hydrogen Powers Energy Hopes
Experts say it may be the fuel of the future
Carl T. Hall, Chronicle Science Writer
Monday, April 2, 2001
,2001 San Francisco Chronicle
URL:
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/04/02/M
N107106.DTL
Hydrogen, the simplest atom, is everywhere. So perhaps it's not surprising
that the most abundant element in the universe would worm its way into the
midst of California's deepening energy crisis.
Rolling blackouts and skyrocketing utility rates are focusing new attention
on the risks of relying solely on the public power grid for electricity.
"The California situation is enlightening a lot of businesses and individuals
about the need for an alternative energy source for backup or primary power,"
said Jim Kirsch, a vice president and head of a power generation unit at
Ballard Power Systems in Vancouver, British Columbia.
Many energy experts have long championed hydrogen's potential as a power
source - the key ingredient in hydrogen fuel cells that offer a
pollution-free alternative to batteries.
There's an emerging consensus that "hydrogen will be the fuel of the future,
" said Robert Stempel, the former chief executive of General Motors, now
chairman of Energy Conversion Devices Inc. in Troy, Mich.
New Respect for New Ideas
His company, a pioneer in portable electricity storage, formed a joint
venture with Texaco to develop solid-state, metal-hydride hydrogen storage
systems for powering clean-running vehicles. There are other methods, too,
but the real take-home lesson from the joint venture, according to Texaco CEO
Peter I. Bijur, is that oil companies now are embracing technologies "that
just 20 years ago we brushed off as a weak threat to our industry."
Ultimately, the idea is to move away from fossil fuels and other traditional
energy sources toward what's known as a "hydrogen economy," in which
renewable solar and wind generators might be used to produce pure hydrogen
fuel out of water.
If a practical hydrogen storage system can be perfected, and if fuel cells
can ever be mass-produced cheaply enough, today's utility customers would
have electricity in a stable, portable form capable of being used whenever
needed.
Imagine city streets full of fuel-cell powered vehicles, neighborhood-size
power plants using hydrogen, and homes and businesses with stacks of fuel
cells in the back yard or basement. These could augment and sometimes
supplant electricity supplied through the public grid and might even be wired
into a computer-guided "distributed generation" scheme via links to the
Internet.
No Quick Fix
All of that is clearly a distant vision. Fuel cells are not quite ready for
prime time. They are still expensive to make and the flammable hydrogen fuel
is difficult to handle.
But while nobody expects fuel cells to be California's power savior right
away, a few pieces of the "hydrogen economy" are already starting to take
shape.
The most widely touted fuel-cell technology to have emerged from the
laboratory stage so far uses what's known as a PEM - for proton or polymer
exchange membrane - situated between two electrodes, each coated with a
catalyst such as platinum or palladium.
When sandwiched together in this way, hydrogen fuel can be made to separate
at one electrode into its constituent free electrons and positively charged
hydrogen ions, also called protons.
The electrons can then be siphoned off as usable direct current electricity,
or converted to alternating current. The protons drift through the PEM,
combining with oxygen at the second electrode to produce ordinary water and
heat.
The individual fuel cells can be arranged in "stacks" of virtually any size.
There's no pollution, and no moving parts to wear out or break down.
Clean Chemistry
"It's very clean and elegant chemistry," said Bill Smith, vice president of
business development at Proton Energy Systems in Connecticut.
The process is basically electrolysis in reverse. Similarly, hydrogen to
supply the fuel cells can be produced with electricity by cracking water
molecules in a device known as an electrolyzer.
"Hydrogen represents stored energy," said chemist Peter Lehman, director of
the Schatz Energy Research Center at Humboldt State University. "Energy
storage is not easy and it's not cheap."
Regular batteries are good for short-term storage, but they require too much
lead to manufacture and generate far too much pollution when discarded to be
practical for large-scale use. Other strategies - pumping water uphill, for
example, to run a turbine at a hydro station - work well only if
circumstances are ideal.
By contrast, the portable hydrogen fuel cell seems to represent the ideal
energy "carrier" in a natural cycle, Lehman said.
"It's completely sustainable. If the input is solar energy, you end up with a
clean and dispatchable energy source," he said.
Driven partly by government clean-air standards and the need to reduce
hydrocarbon emissions, corporate America has embarked on a crash program to
turn fuel cells into practical products.
"We don't consider it a fringe technology at all," said William M. Wicker,
senior vice president for global businesses at Texaco. "Although the
traditional oil and gas business is not going away any time soon, hydrogen is
going to be a part of our energy future."
A hydrogen-based commercial backup power system is due out this year from
Ballard Power, ranked among the leaders in the nascent fuel-cell industry.
The new system is billed as a clean, noiseless alternative to portable diesel
generators. Rather than using water to produce hydrogen fuel, however, the
system produces its own hydrogen by breaking down an ordinary hydrocarbon
fuel, such as propane or natural gas, which the user has to supply.
Big Step Forward
It's clearly not the ideal hydrogen technology, and price and other details,
which have not been revealed, could put it out of reach of average consumers.
But Kirsch said the new portable backup system should still rank as an
important commercial breakthrough.
"As far as we know, this will be the first hydrogen energy product a consumer
can walk in and purchase off the shelf," he said.
For many businesses, the disruptions in the California energy supply system
are only the latest reasons to embrace the idea of energy self-reliance. Many
are talking not in terms of the usual 99.9 percent reliability standard, but
rather a new "six-nines standard" of 99.9999 percent.
That's more than most utilities can deliver even in best of times. Hydrogen
advocates claim they have at least part of the answer, particularly when the
need to reduce energy pollution is taken into the equation.
"The troubles in California really have shined a bright light on the hydrogen
story. People are looking for alternatives, and now they are going to be
seeing just how close we are to this technology," Kirsch said.
Just how close is arguable beyond a few niche markets.
"The cost of manufacturing the fuel cell itself and the cost of fuel
processing are the two big problems we have to solve," Wicker said. "They
aren't insurmountable problems at all but the solutions are pretty far in the
future."
Pure hydrogen has some ideal characteristics as an energy container, but
those same characteristics make it difficult to handle.
"Hydrogen definitely has hazards," said Jeff Rinker, general manager of
hydrogen at BP, the international oil company, and chairman of the National
Hydrogen Association, a trade group. "It would be good if someone came up
with an elegant method of storing hydrogen."
Even staunch wind and solar proponents say there's little practical need to
worry about fancy storage methods for intermittent supplies, because the
public grid has plenty of room for more electrons - even when the sun is
shining and the wind is blowing.
"There is a great potential for hydrogen storage in the future, but today the
grid itself is capable of effectively being used as storage," said Alan
Nogee, director of clean energy programs at the Union of Concerned Scientists
in Washington, D.C.
"Not until we start getting at least 15 percent of our energy from
intermittent sources is there any concern about reliability. Some regions in
Europe are getting over 20 percent and are still doing fine."
Hawaii in the Vanguard
Hydrogen's first large-scale commercial use is expected to be not in
California but rather in such locations as Iceland and Hawaii, where
renewables are much higher on the political radar.
Hawaii state Rep. Hermina Morita, a Democrat who chairs a legislative energy
committee, is leading the push to reduce her state's need for imported oil,
partly by encouraging alternatives and hydrogen fuel cells.
She described it as a "market-based approach" that includes demonstration
projects and economic incentives for utility investment. Eventually, she
added,
California could be part of the picture.
Rather than importing energy, she said, "ultimately what we want in Hawaii is
to be capable of producing more hydrogen than we need, so we can send the
excess to California."
E-mail Carl T. Hall at [email protected].
,2001 San Francisco Chronicle ? Page?A - 6
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Consumers bemoan formula for power-rate hikes
Posted at 9:53 p.m. PDT Sunday, April 1, 2001
BY JOHN WOOLFOLK
AMD STEVE JOHNSON
Mercury News
As state regulators prepare to decide in coming weeks who will bear the
burden of a massive new electricity-rate hike, a long line is beginning to
form of residents, business operators and others seeking a break.
The tiered plan proposed by Public Utilities Commission President Loretta
Lynch exempts those who use no more than 130 percent of their ``baseline''
allotment. But other residents could see increases up to 36 percent, while
commercial customers could pay even more.
Homeowners say there's no way they can save that much. Advocates for the poor
and elderly are crying foul. Businesses say they're already unfairly
burdened.
Residents now poring over their bills and baselines -- which are supposed to
represent average usage -- are puzzled and frustrated. While regulators say
almost half of households use no more than 130 percent of their baseline,
many energy misers wonder just who those people could be.
``This just blows me away,'' said Ellen Finch of San Jose. ``I'm out of ways
to save, short of turning everything off. How on earth does an average
household function on the baseline rates? How many people does an average
household have -- zero?''
The 45-year-old technical writer has cut down dishwashing to once a week and
laundry to twice a week. She's pushed the thermostat down to 67 and put
blankets on every chair.
She's turned off lights and limited her computer, TV and stereo. Still, Finch
says she's using up to twice her baseline amount and expects her bill to go
up at least 9 percent, or about $12.
Utilities haven't yet calculated just how many residents would fall within
the 130 percent. Estimates range from 30 to nearly 50 percent.
Many residents still are trying to figure how their baselines work. Studying
past bills, they see different figures.
That's because the baselines are daily figures, and the number of days in
monthly billing cycles varies. In addition, the baselines change in May and
November to account for differences in summer and winter use.
``It's very difficult for me to understand what this means to me
financially,'' said Bruce Capron, 69, of Cupertino.
Baselines were established in the early 1980s to promote conservation by
allowing utilities to charge higher rates for above-average consumption. It's
based on 50 percent to 60 percent of average usage within each of 19 climatic
``territories'' in the state.
Baselines take into account the various energy needs caused by regional and
seasonal climatic differences. Also considered are whether a home has all
electric appliances or some powered by gas, as well as whether it is an
apartment or detached house. Customers with medical needs can apply for
additional baseline credits.
But baselines don't take into account the size of the home or number of
occupants. Some argue that unfairly punishes the poor, who often have to
share housing with large numbers of family and friends to make rent.
``One of the things we do see as an issue is that a lot of low-income
families tend to have multiple families in a unit or larger families,'' said
Julia Macias, project director for energy issues at the Latino Issues Forum.
``They tend to go over the baseline, not just because they are `energy hogs,'
as Lynch calls them, but just because they have more people in the units,''
Macias said.
Because of language differences, many Latinos aren't aware of the exemptions
and other programs for low-income residents and don't apply for them, Macias
said. In addition, they tend to live in older and less efficient housing. And
for economic reasons, they're already doing what they can to save.
``Low-income families tend to conserve as it is and so further conservation
tends to be really hard,'' Macias said. ``We would like to see something done
to make exceptions for people in those situations.''
Others have similar worries about the elderly, who tend to live on fixed
incomes in older and less-efficient housing, and face greater health risks
from extreme temperatures.
``Seniors are going to be disproportionately affected by this,'' said Hoyt
Minkoff, program director with the Consumer Federation of California and
consultant to the Congress of California Seniors. ``Seniors typically are
going to be more vulnerable to the elements, and the hot weather is going to
affect them more than others. So they're going to need to run their air
conditioning and their fans more than others.''
Some argue the baseline system should take into account all the new
electronic gizmos, from computers to DVD players, that have become
commonplace in many modern homes.
But Pacific Gas & Electric Co. spokesman John Nelson says that's accounted
for because the baselines are recalculated regularly. Because it's based on
average usage within an area, if most people use more power, the baseline
will go up.
In fact, the baseline for the zone that includes Silicon Valley increased
slightly in the last 10 years, while the neighboring zone including San
Francisco hasn't changed, he said.
Commercial customers, who pay lower rates but would see a proportionately
greater increase, also are crying foul.
Grocers are upset because they had cut energy consumption 10 percent at the
request of Gov. Gray Davis last year, which means it will be that much harder
for them to further lower their electricity bills.
``We had hoped it would be spread out more evenly, not so much focused on the
real heavy users,'' said Dave Heylen, spokesman for the California Grocers
Association. ``Unfortunately, it takes a lot of electricity to ensure a safe
food supply. The bulk of our energy use is geared toward cooler cases,
freezer cases, those types of things.''
Nursing homes argue they cannot afford the higher rates.
``When they raise the electricity rates, we don't have any way of absorbing
the costs'' immediately, said Nancy Armentrout of the California Association
of Health Facilities. ``The government hasn't given us any money to
compensate for the increased cost of energy.''
But some consumer advocates argue that exempting various groups will only
cripple efforts to reward conservation.
``It's a crude and blunt tool,'' said Nettie Hoge of The Utility Reform
Network.
Contact John Woolfolk at [email protected] or (408) 278-3410
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High energy prices place firms higher in Fortune 500 ranks
Published Monday, April 2, 2001, in the San Jose Mercury News
BY MATT MOORE
Associated Press
NEW YORK -- Surging U.S. energy prices gave oil, gas and power companies new
fuel in their climb through the ranks of the annual Fortune 500 list of the
largest public corporations, released Sunday.
Oil giant Exxon Mobil Corp. posted its highest-ever revenue of $210 billion
in 2000, boosting it to No. 1 on the list from its 1999 ranking as No. 3.
Automaker General Motors Corp. had revenue of $184.6 billion and fell from
No. 1 to No. 3.
Other energy companies also fared well in 2000, with Enron Corp. rising to
No. 7 from No. 18. Duke Energy Corp. shot up to No. 17 from 69, and Reliant
Energy Inc. made it up to No. 55 from 114.
The list of the largest public companies, ranked by fiscal year revenues, has
been compiled annually since 1955 by the editors of Fortune. GM, which had
held the top spot on the list for 15 years, now trails No. 2 Wal-Mart Stores
Inc.
Energy companies benefited from a surge in revenue brought about by falling
supplies, utility deregulation, soaring natural gas prices and OPEC's
maneuvering to keep oil prices high.
Other energy firms advancing included Texaco Inc., which went from No. 28 to
No. 16; San Francisco-based Chevron Corp., which was ranked No. 20, up from
No. 35; and Dynegy Inc., which rose to No. 54 from No. 112.
The Internet slowdown and uncertainty about the economy hurt a number of
companies, particularly telecommunications firms. AT&T Corp. fell from No. 8
to No. 9.
America Online Inc., which became the first purely Internet company to break
into the list last year at No. 337, rose to No. 271. Since then, it has
become AOL Time Warner Inc. with its acquisition of Time Warner. The combined
company's revenue of $36.2 billion would have made it No. 39 on the year 2000
list, but the deal didn't close until early this year.
Computer companies were led by International Business Machines Corp., which
stayed in the top 10 but fell from sixth last year to No. 8.
Microsoft Corp. rose to 79 from 84, and San Jose-based Cisco Systems Inc.
advanced to 107 from 146, despite the dot-com crash.
Total profits for the 500 corporations grew 8.4 percent for the year, down
from 1999's level of 28.7 percent, to $444 billion. Revenue grew by more than
13 percent to a combined $7.2 trillion for 2000. They employed more than 24
million workers.
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As energy policy lurches, is Gov. Davis in charge?
Published Monday, April 2, 2001, in the San Jose Mercury News
BY PHIL YOST
OH SURE, there's progress in Sacramento on the electricity mess, says one
senator. ``There's less denial than there has been.''
This ends the ``Indisputably Good News'' portion of our column. The rest is
like an electrical circuit: Every positive is connected to a negative.
Three months after Gov. Gray Davis convened an extraordinary session of the
Legislature to jump on the energy crisis, the Capitol is full of trepidation
about the summer. Only the governor's office keeps pumping out optimism.
In January electricity was running short, prices fluctuated wildly on the
spot market, and the utilities were faced with bankruptcy unless consumers
started getting huge bills. Davis and the Legislature set out to find more
electricity, stabilize the market, establish the lowest possible prices, and
put the utilities back on their feet.
Some progress has been made on all those fronts. But in terms of what's
needed for this summer, things are not going all that well.
On finding more electricity, Davis has been trying to get peaker plants in
place for the summer. He thinks he'll have enough; hardly anyone else does.
Other events are conspiring against him. The forecasts for hydro power are
grim and grimmer.
Demand reduction, or conservation, is the flip side of supply. The behavior
of consumers this summer is a huge unknown. The behavior of the Legislature,
alas, is known. Only now is a bill to fund programs such as rebates for
energy efficient appliances nearing passage. It's a month late.
To rescue the utilities, stabilize the market and try to lower prices, the
state took over the utilities' job of buying electricity. How much it has
spent is Davis's big, dark secret. About a third of the state's electricity
must be bought on the open market. Davis's aides say the state has covered 75
percent of this need for the next 10 years. But for this summer, they've
found less than half of it.
Buying the transmission system from Pacific Gas & Electric and Southern
California Edison is the heart of the plan to put them back on their feet.
The utilities would get money; the state, an asset.
The main backer, John Burton, the Democratic president pro tem of the Senate,
wanted to do the deal ``willing buyer, willing seller.'' He's the most
willing buyer. Other key players, Davis included, are reluctant buyers. PG&E
is a grudging seller. The deal is amazingly complicated. It could fall apart.
On rates to consumers, Davis has been a pillar of jelly. Last week, the
Public Utilities Commission stepped up, as they say every 30 seconds on
sports broadcasts, and took rates to the next level.
While justified, the PUC decision left the impression that energy policy is
lurching in no particular direction. After weeks of hearing Davis reject rate
hikes, consumers learned of a potential increase on Monday -- if they were
attentive to the news -- and saw it enacted on Tuesday.
What is most critically lacking, after three months, is a sense that the
crisis is being managed from a central command post, with a coherent
strategy. Davis has not been the general the battle requires.
Some of his ideas have been off-point, like making businesses cut outside
lighting late at night.
Some of the successes are quickly reversed. He held a press conference to
announce an agreement on alternative power generators, some of which have not
been producing because they haven't been paid. The bill stalled the next day.
He seems oddly absent at times. When the PUC's intention to raise rates hit
the news Monday, Davis's press office issued a short release, in which he
said he hoped they wouldn't. After the PUC followed through, Davis, after
delaying all day, issued a brief statement wishing they hadn't.
Davis keeps asserting, against all evidence, that rate hikes might not be
necessary.
He said he couldn't determine whether the rate hikes were justified because
he didn't have enough data. Granted, the potential power supply and consumer
behavior, which will affect electricity prices, are uncertain. But
rate-setting involves assumptions about weather and conservation, among other
variables. Wrong rates can be adjusted later.
When the governor says that he doesn't know how much customers should be
charged for electricity, he's admitting he doesn't know where we are on the
path to getting through the summer.
Maybe Davis can pull a rabbit out of the hat before summer starts. If so,
give him credit for mastering the magician's technique of heightening the
suspense. Because right now, it's sure looking like all hat and no rabbit.
Phil Yost is chief editorial writer of the Mercury News.
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Businesses battle the blackouts
Monday, April 2, 2001
To suggest workable and market-oriented solutions to the California
electricity crisis
Local businesses are suffering badly from the electricity crisis - and expect
even worse in the months ahead. That was the message the Register editorial
board received from a Thursday meeting with local business executives who
represent some of Orange County's larger electricity users.
It became apparent from our conversation that there is little if nothing
happening in the way of coordinated planning among state, utility and
business representatives as the summer fast approaches.
This could be extremely harmful to the California business climate. A truism
about business, so dependent on timely fulfillment of obligations to
customers, meeting tight manufacturing times, keeping equipment and inventory
at optimum use, is that business hates uncertainty.
And the likelihood of shortages and blackouts for summer portends nothing
but. On the other hand, businesses are good at crisis management and recovery
planning, if given the chance. In the case of the power crisis, however,
where so much is out of control, they can't plan without collaboration from
the state and the utilities.
Here's how alarming the situation is shaping up for business owners, two of
whom told us they are building their plans around the potential for as many
as 30 blackouts in months ahead - a guess, they admit, but planning has to
start somewhere.
"Last year we spent $800,000 on electricity and expect to spend another
$490,000 this year," for a combined cost of $1.29 million, Richard J. Collins
told us; he's president and CEO of Astech Inc. in Santa Ana, which
manufactures exhaust systems for Boeing and Airbus aircraft. The higher cost
stems from the March 27 announcement by the California Public Utilities
Commission that rates will rise as much as 46 percent across the state.
The increase will consume "a quarter of my total operating profit" for the
year, Mr. Collins lamented. "We have long-term agreements and no flexibility
to raise prices."
Blackouts will wreak the worst harm, given that they come without warning and
prompt immediate hard shutdown of equipment, in Mr. Collins' case, furnaces
used in a 30-hour manufacturing process. "If there's a blackout, there's
damage to the furnace," he said.
Furthermore, because he doesn't know when the blackouts come, "I don't know
when to bring my people into work. There's no basis to plan my business."
The problem will become most acute this summer when rolling blackouts are
expected to be severe across the state. Astech is conserving power as best it
can. It participates in the interruptible power program with Edison, by which
businesses agree to do cut power to an agreed-upon level during peak periods
in exchange for lower rates.
And, the company is "investing $250,000 in generating equipment" to produce
some of its own power, especially during blackouts. He has no plans to leave
Orange County. "It's ideal being where we are. We like where we are," he
maintained.
We asked what might happen if the price doubled. "But there comes a point
where we'll have to go somewhere else," he said.
"You need reliability and you need predictability," Andrew De Cicco, vice
president and general counsel for ITT Cannon in Santa Ana, told us. His
company spent about $2 million on electricity last year but will spend about
$3.2 million this year because of the PUC price increase. His company has
acquired a diesel generator on a one-year lease - and is even weighing the
idea of building a power plant.
"Cannon has a long history in California, dating back to 1915," he said, and
plans to continue here. "The question is the future, the appropriate level of
investment. For that you do need reliability and predictability in the
business climate."
Government officials, regulators and electricity industry executives need to
understand that, although these and other business are tenacious about
staying in California and expanding operations here, their resources are not
unlimited. In addition to the obvious - building more generating plants -
three major policy changes and one clarification of policy are needed to keep
businesses producing and creating jobs:
* Give companies an hour's notice before any blackout to give them some time
to power down computers and machines in an orderly way. We understand there
are concerns about security - preventing hoodlums from using the blackout
notification time to loot homes with shut-down security systems - but there
are successful ways to give advance notice. Something needs to be done, such
as rotating blackout groups.
* Plan ahead. Businesses are expressing a willingness to voluntarily shut
down operations for a given period, say, a specified week or two during the
summer, if they can be guaranteed uninterrupted power during the remainder of
the worst months. "We can organize around that," Mr. Collins said. "Somebody
could organize that to shed load" from the statewide system. "Sign people
like us up for a two-week period."
* Extend the maximum period companies can use small generators to 1,000 hours
from 200 hours a year. The AQMD limit of 200 exists because portable
generators, usually diesel, cause more pollution. But this summer power needs
clearly will be at emergency levels.
* Make clearer permit conditions from the Air Resources Board regarding use
of alternate power sources, such as diesel generators. Anything that can be
done to allow alternate sources of energy to go on line and stay on line
would help restore some reliability and predictability to business planning.
California industry is going to have major electricity problems no matter
what. But these changes could make the difference between success and
failure, not only for these companies but for our state's economy.
--------------------------------------------------------------------------
California ISO Declares Stage Two Electrical Emergency; Continued
Conservation Urged as Power Supplies Remain Limited
FOLSOM, Calif.--(BUSINESS WIRE)--March 30, 1001 via NewsEdge Corporation -
At 9:00 a.m.
today, Friday, March 30, 2001 the California Independent System
Operator (California ISO) called a Stage Two Emergency as operating
reserves dipped below five percent. This emergency status is
attributable to the loss of more than 700 megawatts of wind generation
that was helping to keep the Electrical Grid balanced while supply
limitations continued throughout the state:
-- A total of 11,500 megawatts worth of generation remains
unavailable today with power plants off-line because of
preventative repairs and plant malfunctions
-- An additional 3,000 megawatts of generation from the state's
qualifying facilities (QFs) remain unavailable due to
continuing financial concerns
With operating reserves hovering at critical levels, the
California ISO requests that customers voluntarily reduce their use of
electricity to prevent more severe curtailment measures. Peak demand
on the transmission system is expected to reach 28,661 megawatts
around 6:00 p.m. today. Today's Stage Two declaration, expected to be
in effect until midnight, enables the California ISO to access
emergency resources to help maintain operating reserves.
If an operating reserve shortfall of less than one-and-a-half
percent is unavoidable, Stage Three is initiated. Involuntary
curtailments of service to customers including "rotating blackouts"
are possible during this emergency declaration. The California ISO's
Electrical Emergency Plan (EEP) is part of the state's enhanced
reliability standards enacted by landmark legislation Assembly Bill
1890 that led to the restructuring of California's electricity
industry.
The California ISO is charged with managing the flow of
electricity along the long-distance, high-voltage power lines that
make up the bulk of California's transmission system. The
not-for-profit public-benefit corporation assumed the responsibility
in March, 1998, when California opened its energy markets to
competition and the state's investor-owned utilities turned their
private transmission power lines over to the California ISO to manage.
The mission of the California ISO is to safeguard the reliable
delivery of electricity, facilitate markets and ensure equal access to
a 25,526 circuit mile "electron highway."
Continuously updated information about the California ISO control
area's electricity supply and the current demand on the power grid is
available on the web at www.caiso.com.
--------------------------------------------------------------------------
[B] PG&E says it will take $4.1 bln charge on uncollected power costs (Wrap)
By Christine Cordner
San Francisco, March 30 (BridgeNews) - Pacific Gas & Electric said Friday
that it will take a $4.1 billion after tax charge in the fourth quarter of
2000, tied to uncollected power costs, without a regulatory or legislative
solution that provides for the full recovery of such costs.
On Tuesday, the California Public Utilities Commission approved a rate
increase that would provide the state's near-bankrupt utilities with much
needed extra revenue.
However, PG&E said they would not be able to use revenues from the rate
hike to pay off existing debt and do not have the authority to recover
power purchase costs incurred above revenue from retail rates. Gains generated
from the hike are to be used only for the costs incurred after March 27.
PG&E
estimated that, as of Feb. 28, it had undercollected for wholesale power
purchases by $8.9 billion.
PG&E Corp., the parent company of California's largest utility, said it
would not file its annual report as expected on April 2 due to Tuesday's
ruling
from the California PUC. It now expects to file the earnings report by April
17, after taking the new ruling into account.
The utility's cash reserves are only $2.6 billion, while it expects to add
an additional $1.5 billion in obligations due and payable through April 30 on
top of the $4.4 billion in debt it currently has on its books. The new debt
includes $550 million payable to the California Independent System Operator
(CAISO), $340 million to small power producers and $470 million to natural gas
suppliers.
PG&E said that the $8.9 billion undercollection reflects estimated charges
from the Independent Systems Operator for power purchased through February
2001
to meet the amount of its net open position not met through the state
Department of Water Resource's purchases.
The utilities have lost billions of dollars because the retail rates
they're allowed to charge customers have been frozen at 1996 levels and the
wholesale prices they must pay for power have jumped as much as 60-fold.
The higher wholesale prices have sent PG&E to the brink of bankruptcy.
Shares of its parent PG&E Corp. fell 6% to $11.84 on Friday. End
[slug: PG&E-Q4-CHARGE]
? | {
"pile_set_name": "Enron Emails"
} |
I've changed the counterparty name to The City of Oakland - and the contact
is Wing Lau. His number is (510) 627-1457. According to Stewart Rosman, the
middle marketer who did this deal, City of Oakland is the same entity as Port
of Oakland; however, City is the counterparty name in the system which is
linked with the correct contact info. I tried to look up the contract in
Livelink, but I keep getting an error message. Is there any way you can check
on this contract to make sure we're entering these deals with the correct
counterparty name?
Thanks,
Kate
Stephanie Piwetz 04/17/2001 01:17 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: 584180.01-need contact name
Please ask Bob for a contact, if you place it in the comment section we can
add it.
Port Of Oakland
Thank you | {
"pile_set_name": "Enron Emails"
} |
Since the market affiliate rule looks at business units rather than the
function within the business unit (or any firewalls that are set up), since
he works for ECT I have to say I would be uncomfortable putting him on the
distribution list. I know that he has access to the same info, but to give
him access to our work product is probably a violation of the rule.
I am out of town, but if you have any questions please e-mail or leave me a
voice mail, and I will reply after my hearing today.
From: Dan Fancler 05/31/2000 06:46 AM
To: Debbie Moseley/ET&S/Enron@Enron
cc: Bob Chandler/ET&S/Enron@Enron, Susan Scott/ET&S/Enron@Enron
Subject: Re: Distribution of Hedge Book
Since he works for the same group that does our VAR calculation he should
already have our positions, go ahead and send him the book, unless Susan
Scott has a problem. Susan, let us know if you have a problem.
Dan
Debbie Moseley
05/30/2000 04:32 PM
To: Dan Fancler/ET&S/Enron
cc:
Subject: Re: Distribution of Hedge Book
Dan,
Jan has suggested that Eugenio Perez is setup on distribution for the book.
I'm not sure about putting him on the distribution since is a ECTN employee.
However, according to Jan he works in the group that provides ET&S with the
VAR calculation. What do you think or should Susan Scot have final say.
Let me know.
Debbie
---------------------- Forwarded by Debbie Moseley/ET&S/Enron on 05/30/2000
04:24 PM ---------------------------
Jan Johnson
05/17/2000 04:15 PM
To: Debbie Moseley/ET&S/Enron@ENRON
cc:
Subject: Re: Distribuion of Hedge Book
He works for Sally Beck. Her group does VAR for all of Enron, so in that
function he is Global. He doesn't share any of the information he collects
on the business units with any of the trading or commercial people, to ensure
we have no market affiliate problems. Is that enough protection or will we
need to do more to separate him?
Jan
Debbie Moseley
05/17/2000 04:08 PM
To: Jan Johnson/GPGFIN/ENRON
cc:
Subject: Distribuion of Hedge Book
Jan, who does Eugenio Perez work for? When I typed in his name, it indicated
he was with ECT.
Thanks, Debbie | {
"pile_set_name": "Enron Emails"
} |
Hi Matthew,
Greg will be in the London office from early Tuesday afternoon through
end-of-business day on Thursday, June 7. Are you available to meet w/him for
about an hour? He's available Tuesday afternoon until 5:00 p.m. Wednesday
there are a few slots available, and Thursday he is wide open. Please
advise. If you could e-mail me your availability that would be great. Also,
Greg will be carrying mobile number +44 7901516638.
Many Thanks,
Liz Taylor | {
"pile_set_name": "Enron Emails"
} |
Yes, I'd be glad to talk to him. I know we want to build generation in New
York (the next state to have brown outs). Until Carlos gets settled in send
the guys to me. Trust me, it won't take long to get him settled in!
Kathleen, do we have a land holding company for that region? I want to think
about a two-tiered approach due to balance sheet issues created by expensive
land. I'll think about it from a TurboPark standpoint also.
Kay
From: Kathleen Carnahan 02/06/2001 03:14 PM
To: Kay Mann/Corp/Enron@Enron
cc: Carlos Sole/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: New York sites
Kay,
John Moore told me today that we are in the market for locating 3 or 4
industrially zoned land between Albany and New York City. Global
Right-of-Way will probably assist us in locating the land and negotiate
obtaining options. I have been asked to set up a special purpose company
"Garnet Development Company, L.L.C." for the project (not right now, but in
the near future). John said no attorney was helping with this yet, so I
suggested you and Carlos, okay?
Kathleen | {
"pile_set_name": "Enron Emails"
} |
On Wed, 10 Oct 2001 10:03:05 -0500, Lucci, Paul T. wrote:
>We buy San Juan. But we do not have any gathering.
>
>-----Original Message-----
>From: NGFC [mailto:[email protected]]
>Sent: Wednesday, October 10, 2001 8:40 AM
>To: Lucci, Paul T.
>Subject:
>
>
>I forgot to ask in the last e-mail if you guys buy gas in the San
>Juan Basin on EPFS, and if you do, do you have gathering?
Thanks!
--
NGFC, [email protected] on 10/10/2001 | {
"pile_set_name": "Enron Emails"
} |
Sara,
This list is a great idea.
CSFB should be a Med at least. Gary is requesting this account and we can
not start trading without..
thanks. Sheila
---------------------- Forwarded by Sheila Glover/HOU/ECT on 08/01/2000 07:36
AM ---------------------------
From: Sara Shackleton on 07/31/2000 04:32 PM
To: Sheila Glover/HOU/ECT@ECT, Donna Lowry/HOU/ECT@ECT, Samantha
Boyd/NA/Enron@Enron, Paul Radous/Corp/Enron@ENRON
cc:
Subject: Brokerage Agreements (in the pipeline)
Attached is the latest listing. Please send comments and corrections. | {
"pile_set_name": "Enron Emails"
} |
I WANT TO PLAY GOLF ON TUESDAY MORNING. IT IS LADIES MORNING AT LCC SO WE
CANNOT PLAY THERE. I HAVE A CONNECTION AT THE HOUSTONIAN. GREAT PRICES. IF
YOU ARE INTERESTED , CALL OR EMAIL. | {
"pile_set_name": "Enron Emails"
} |
Attached below is the status of expenditures for ENTRIX tasks under all of
the task orders through June 28, 2000. We are working on a report that will
forecast planned expenditures for the next two quarters. We will update
these lists monthly, and should have additional report formats available for
your review within two weeks.
There seems to be a lot of interest in, and perhaps some concern about, the
ENTRIX task orders. This list shows all approved year 2000 task orders, the
approved (ENTRIX) budget for each, and the amount spent through 6/28/00.
None of this is secret stuff, and I will be happy to answer any questions
that you have. As mentioned above, we are working on other reports that will
show all spending for all active environmental sites, along with forecasts
for future spending. We will need three or four reports to show this
information, and I will modify the format to meet your needs.
Information for all 2000 spending on all active sites is currently available
to everyone on EMS Works, but you can't produce meaningful reports. The EMS
Works information is about 98% complete, as we have some issues of recoding
of invoices and new invoices not yet entered- all in the Midland office.
These should be resolved within the next two weeks. Note that task order 37
is being revised and has not been approved yet, so it doesn't make the list.
Call if you have questions.
Cutty | {
"pile_set_name": "Enron Emails"
} |
STNW DESK IS LONG 50 MW PEAK FOR MONDAY AND TUESDAY 11/12 - 11/13.
ITS PARKED WITH PGE. PLEASE SELL AT THE MID-C UNLESS NEGOTIATED TO A DIFFERENT DP WITH PGE.
DEAL # 865749.1 IS OUR PURCHASE FROM PGE.
IF YOU HAVE ANY QUESTION PLEASE CALL MYSELF OR SEAN.
THANKS!!
DIANA | {
"pile_set_name": "Enron Emails"
} |
Mark: Per my vm, here's one request (since I'll be out Tuesday morning)
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
----- Forwarded by Sara Shackleton/HOU/ECT on 01/12/2001 05:47 PM -----
Chris Constantine
01/12/2001 04:14 PM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Digital Signiture License
Sara,
I am sorry to be contacting you again today.
I am trying to purchase a digital signiture licence for the eTrader system.
It is required to enable us to distribute ActiveX components over the
internet. Can you please look at this link and select the "Enrol" button to
view the form and let me know if your department has to get involved in this
process. The link is : http://digitalid.verisign.com/developer/ms_pick.htm
I have added below some further information sent to me
Regards,
Chris
---------------------- Forwarded by Chris Constantine/HOU/ECT on 01/12/2001
02:25 PM ---------------------------
Mya Marshall <[email protected]> on 01/12/2001 01:47:05 PM
To: [email protected]
cc:
Subject: Securing Your Code for Internet Delivery - (OP1578693)
Christopher,
Thank you for obtaining our Guide, "Realizing the Possibilities
of Internet Software Distribution," which we hope will serve as
a useful reference tool. In the Guide, you will learn how to:
* Digitally "shrink-wrap" your Microsoft Authenticode.
* Assure your customers that the code you're sending them is safe,
authentic, and really comes from your organization.
* Protect your code from hackers or unintentional corruption
during Internet delivery.
* Time stamp your code to ensure validity after certificate
expiration--this feature is available only from VeriSign!
The Guide is located at:
http://www.verisign.com/developer/rsc/gd/authenticode/index.html
*******************************************************************
Get your Code Signing ID for Microsoft Authenticode right now,
go to http://digitalid.verisign.com/developer/ms_pick.htm
*******************************************************************
If you do not serve as your organization's security contact for
code distribution, please forward this message to that individual
so that he or she can also learn about the advantages of digitally
signing the software your company delivers over the Internet.
If you have any questions, please don't hesitate to contact me.
Sincerely,
Mya Marshall
Secure Server Team
VeriSign - The Internet Trust Company
650-622-2565
P.S. Please pass this message along to the technical contact in
your organization or anyone else who might benefit from it.
We thank you, and so will your Web site customers!
You are now enrolled to receive our periodic Security Newsletter,
to update your communication preferences, please visit our web
site at http://www.verisign.com/compref
------------------------------------------------------------------
Copyright 1999 VeriSign, Inc. All rights reserved.
VeriSign is a registered trademark exclusively licensed to
VeriSign, Inc.
ID=OP1578693 | {
"pile_set_name": "Enron Emails"
} |
Our next conference call will be held this Friday, September 15th at 11:00
a.m. New York time. If you wish to participate, please call 888-904-9318
and give passcode "US REG" and leader is Stacy Carey.
Stacy Carey
Director of U.S. Regulatory Policy | {
"pile_set_name": "Enron Emails"
} |
Here is PGET risk reducing deal that Mark talked to you about. Please
coordinate with Lisa when you get a chance on Tues. I ill help on the power
master w Cinergy to make sure it is suitable for the underlying trades.
Thanks so much for your help.
----- Forwarded by Elizabeth Sager/HOU/ECT on 03/12/2001 04:36 PM -----
"Meier, Peter" <[email protected]>
03/12/2001 02:47 PM
To: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>
cc: "Sarti, Daniel" <[email protected]>, "Guebert, Dave"
<[email protected]>, "Barpoulis, Sarah" <[email protected]>,
"Hein, Jennifer" <[email protected]>, "Vallieres, Benoit"
<[email protected]>, "'[email protected]'"
<[email protected]>
Subject: Cinergy and Enron Transaction
Attached is a draft of the three party agreement between PGET, Enron
and Cinergy. My understanding is that it is with respect to 75 MWh and I
have drafted it accordingly. I have used the format which we and Enron have
previously used.
In addition to your review of the Agreement generally, I need
specifically a copy of the two confirms for the Enron/PGET transactions
being terminated and I need to know the settlement payment. Also, the
appropriate reference to the existing Enron/Cinergy needs to be included.
What will be the effective date for the assignment/termination? I know we
want to sign this tomorrow, but how quickly can it be implemented.
Please forward internally within your organization as necessary to
complete this transaction.
Elizabeth and Jeff, please call me as soon as possible.
Peter Meier (office: 301-280-6817; cell 301-502-1715)
<<epmi cinergy ver 1.doc>>
PG&E National Energy Group and any other
company referenced herein that uses the PG&E name or
logo are not the same company as Pacific Gas and
Electric Company, the regulated California utility. Neither
PG&E National Energy Group nor these other
referenced companies are regulated by the California Public
Utilities Commission. Customers of Pacific Gas and Electric Company
do not have to buy products from these companies in order
to continue to receive quality regulated services from the utility.
- epmi cinergy ver 1.doc | {
"pile_set_name": "Enron Emails"
} |
Vince,
Dawno ze soba nie rozmawialismy. Mam nadzieje ze u Ciebie wszystko O.K.
Nie wiem czy znana jest Ci postac prof. Aleksandra Werona - zajmuje sie on
zastosowaniem metod matematycznych w inzynierii finansowej. Ostatnio
natomiast skupil sie na rynku energii. Wraz z synem Rafalem wydal ksiazke
"Gielda Energii - Strategie zarzadzania ryzykiem". Zawarte sa w niej podstawy
zarzadzania ryzykiem. Na jego stronie internetowej
http://www.im.pwr.wroc.pl/~hugo/fe.html mozesz znalezc cos wiecej na temat
tego czym sie zajmuje. To co moze Cie zainteresowac to moze byc strona
http://www.im.pwr.wroc.pl/~hugo/rockets.html. Ciekaw jestem co o tym sadzisz.
Spotkalem sie z Weronem kilkakrotnie na roznych seminariach. Zorganizowalem
mu tez zobaczenie naszego trading floor podczas jednej z jego wizyt w
Londynie.
Pozdowienia
Jarek | {
"pile_set_name": "Enron Emails"
} |
Firstly, I never pick up voicemail so I just got your message from the week-end. Sorry.
Anyway EnronOnline: There are two versions today - we keep one in NewCo and the Estate keeps one. Two teams can be allocated for each.
It works - we have enough people to do it.
In terms of the Estate:
The Estate will keep a copy of the source code and the Estate will also maintain a staff on both the development side and the support side in order to ensure the service can be maintained. The source code and build process are sufficient to allow for running almost immediately. We actually have two EnronOnline environments today - the 'staging environment' and the real 'production environment'. Essentially we would leave the staging environment for Enron - it is simply a question of staffing which I believe is totally possible now we have allocated the staff to NewCo and the Enron estate.
In terms of NewCo:
EnronOnline will be maintained for NewCo using the production environment. With its own staff. | {
"pile_set_name": "Enron Emails"
} |
calendar
---------------------- Forwarded by Steven J Kean/NA/Enron on 07/06/2001
01:04 PM ---------------------------
From: Mark E Haedicke/Enron@EnronXGate@enronXgate on 07/06/2001 12:22 PM
Sent by: Janette Elbertson/ENRON@enronXgate
To: David W Delainey/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, John J
Lavorato/ENRON@enronXgate, Richard B Sanders/Enron@enronXgate, Richard
Shapiro/NA/Enron@Enron, Vicki Sharp/HOU/EES@EES, Greg
Whalley/ENRON@enronXgate, Robert C Williams/ENRON@enronXgate
cc: Kay Chapman/HOU/EES@EES, Maureen McVicker/NA/Enron@Enron, Kimberly
Hillis/ENRON@enronXgate, Twanda Sweet/ENRON@enronXgate, Ginger
Dernehl/NA/Enron@Enron, Kathy Dodgen/HOU/EES@EES, Liz M
Taylor/ENRON@enronXgate, Jan Cooley/ENRON@enronXgate, Jessica
Ramirez/ENRON@enronXgate
Subject: Meeting Notice - California Document Production Issues
There will be a meeting on Monday, July 9, from 10:00 a.m. to Noon in EB3321
to discuss the referenced issues.
Thank you.
Janette Elbertson
Enron Wholesale Services
Legal Department - EB3326
Telephone: (713) 853-7906
Fax: (713) 646-2600
e-mail address: [email protected] | {
"pile_set_name": "Enron Emails"
} |
Attached are the September 1st volume requirements for CES/New Power. Please
advise if you know of anyone that should be added to the distribution, or if
you would like to be removed from the distribution.
David
713-345-7692 | {
"pile_set_name": "Enron Emails"
} |
If we are still open to changes I would suggest adding a sentence (in
brackets below) to the paragraph about retail competition that supports a
reasonable proposal by the ISO market survailence committee. We all hope
that the market will do it anyway but in a disfunctional market certain
things need to be mandated.
".....Second, California should not abandon its goal of fostering retail
competition. New competitors need the ample, stable and reliable
electricity supplies that a reformed market system will promote. Retail
competition can help bring new types of contracts and metering systems, and
better awareness of environmental effects as entrants introduce "green"
packages, and demand-side innovations. This is another reason why consumers
must pay the real cost of electricity, as retail competition cannot thrive
in an environment in which supply companies lack retail pricing freedom. As
a consequence, companies involved in retail supply, including the California
utilities, should be allowed to pass-through their energy costs in a
competitive environment. [At the same time retail customers should be
guaranteed the option of locking in a fixed fair price by the default
supplier and not be exposed to market volatility should they choose to do
so.]
Finally, oversight of the electricity business will always be needed. The
cornerstones of electricity regulation must be oversight of the distribution
function, and ensuring that any anticompetitive behavior by suppliers is
circumscribed. "
----- Original Message -----
From: "Philip K. Verleger" <[email protected]>
To: "James L. Sweeney" <[email protected]>
Cc: "David Teece" <[email protected]>; "Robert Michaels"
<[email protected]>; <[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>;
<[email protected]>; <[email protected]>
Sent: Friday, January 26, 2001 7:36 AM
Subject: Re: FINAL VERSION (Revised)
> David:
>
> Jim's comments are on point. We really do not know whether the current
> increase is due entirely to the workings of a workably competitive market.
> Some of the participants believe it is, some believe it is not, and others
> like myself are really not sure. Similar, but smaller price increases
have
> been observed in other commodity markets which were later found to be
> "workably competitive." For example, there has been no showing that the
> doubling of heating oil prices last year in the east resulted from
> anything other than the normal working of supply and demand. However,
> there have been other instances of smaller price increases where it has
> been shown that the markets were not "workably competitive." Until we
have
> more actual market data we really cannot - and should not be so bold.
>
> While I have strongly urged you to resist making large numbers of changes
I
> think Jim's advice should be included if you have time.
>
> Phil
>
> | {
"pile_set_name": "Enron Emails"
} |
John Van Gelder has recently transferred from EBS-Portland to work in the
West Origination group.
John began working with Enron Energy Services as a summer intern in 1998. In
January 2000, he started working with Enron Broadband Services, and was
promoted from Associate to Manager while working with their Wholesale
Origination group.
John received his Bachelors degree in Mechanical Engineering at the
University of Kansas and completed the Master's program at the University of
Michigan's School of Business Administration.
Please welcome John to our Portland office!
Regards,
Chris | {
"pile_set_name": "Enron Emails"
} |
I've skimmed it. I see that the option expires August 9th. Are we planning
to renew it? If so maybe we can renew early and fix what we can to preserve
some optionality (no pun intended) and cover the fee issue. Might take too
long to address the immediate issue.
I don't see anyway we can get around the balance sheet issue unless we let
the option expire and then reoption, but in that case the option payment
would have to be smaller (acct says an option of 5% creates a problem as it
would be considered a down payment). Just fyi.
Kathleen, was the option recorded, or just a memo of option, or neither? I'm
just wondering what is public info.
Herman is out of the office today, but I can discuss the fee issue to get his
vote.
More to come...
ckm
From: Greg Krause/ENRON@enronXgate on 05/23/2001 02:19 PM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
I think the invoice was for between $20,000 and $30,000, but I can't
remember. AEW has the invoice. This probably will not be the final as we
will need to work with them in discussions with DERM on delaying the landfill
closure and in moving jurisdiction of the project from CZAB to the County
Commissioners. I think Shutts & Bowen (who may get stiffed by their client
if this deal blows up) and Certosa Holdings would be open to any suggestions
and we need to renegotiate the option anyway. Shall I call and suggest this
this flat fee for retooling the option agreement to them or shall we do it
together? I,m not sure I could explain to them acequately the idiosyncrasies
of our accounting requirements.
-----Original Message-----
From: Mann, Kay
Sent: Wednesday, May 23, 2001 2:00 PM
To: Krause, Greg
Subject: RE: AEW's backup
How much is it and should this be the final amount? One thought I have is
that maybe we can retool the option agreement so that we pay them a flat fee,
which is enough to cover the expenditures. Don't know if this works, but it
is one thought. What do you think?
Kay
From: Greg Krause/ENRON@enronXgate on 05/23/2001 01:50 PM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
One more thing on the SDEC project: According to the option agreement we
executed last October, we agreed to reimburse Certosa Holdings for actual
third party costs that they incurred in support of our necessary
applications, submittals and in seeking local approval. Several weeks ago,
we recieved an invoice from Shutts & Bowen, attorney for Certosa Holdings
requesting reimbursement pursuant to the contract. I forwarded this invoice
on th Ann Elizabeth not necessarily to pay for but to review considering this
whole soft cost hard cost discussion. I recieved another call this morning
from Shutts & Bowen asking about the invoice. What should I do?
-----Original Message-----
From: Mann, Kay
Sent: Wednesday, May 23, 2001 11:03 AM
To: Krause, Greg
Subject: RE: AEW's backup
Greg,
You can call me on whatever you have, including Midway, SDEC and Medley
Dunn. If I have a problem getting to something, I'll find help.
Kay
From: Greg Krause/ENRON@enronXgate on 05/23/2001 10:50 AM
To: Kay Mann/Corp/Enron@Enron
cc:
Subject: RE: AEW's backup
Kay,
Ann Elizabeth did not provide a designated hitter for the South Dade Energy
Center (Dade Development Company LLC is Optionee, Certosa Holdings is
Optionor) nor did she provide one for tne Medley Dunn project. I have been
told that the Dunns are considering backing off their ultimatums that they
gave Ann Elizabeth and I regarding taxes to the town and assumption of
enviromental liability. Who do I talk to about the Dunn contract while Ann
Elizabeth is out?
-----Original Message-----
From: White, Ann Elizabeth
Sent: Tuesday, May 22, 2001 10:33 PM
To: [email protected]; Krimsky, Steven; Ben Jacoby/HOU/ECT@ENRON; Carnahan,
Kathleen
Cc: Milligan, Taffy
Subject: AEW's backup
Kay Mann is the designated hitter for the Pompano and Deerfied projects while
I'm on vacation. I've given her a down load of the status of Greg and
Steve's projects. Chris Boehler at A&K will be the designated hitter for
Midway. I'm not going to check my voice mail while I'm gone but, if
necessary, here are the contact numbers while I'm gone.
Walter and Marlena Schilling 011-49-8218-89351 [email protected]
Monika and Bernhard Steinacher 011-49-8232-8932 [email protected]
If you call, Walter and Bernhard and Bernhard's daughter, Susanne, speak very
good English. Monika's isn't bad. Marlena may get flustered and hang up on
you.
Best of luck at Deerfield and hope to see Pompano on track when I get back in
the office on June 11th. Kay is planning on going to Florida on June 12 for
the moratorium hearing and the rezoning hearing. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Eric Bass/HOU/ECT on 02/23/2001 09:10 AM
---------------------------
BRIAN HOSKINS@ENRON COMMUNICATIONS
02/22/2001 04:36 PM
To: Alicia Perkins/HOU/EES@EES, Denise
Naiser/ENRON_DEVELOPMENT@Enron_Development, Hector Campos/HOU/ECT@ECT, Lenine
Jeganathan/HOU/ECT@ECT, [email protected], Eric Bass/HOU/ECT@ECT
cc:
Subject: Re: FW: cat attack
http://www.adcritic.com/content/peta-bad-cats.html | {
"pile_set_name": "Enron Emails"
} |
Dan, I was just checking to see if there was an update on Murphy Gas
Gathering - they have applied for EOL and are still hanging out. If it
appears that this is going to be a long-term process, please let me know and
perhaps we'll close them out for now until we get the acceptable language
worked out.
Also, I've responded back to Gibson Petroleum re: their confidentiality
agreement. I'll keep you posted as to what they come back with. Thanks for
your help.
Walter | {
"pile_set_name": "Enron Emails"
} |
Brent will be out this afternoon beginning around 2:00 p.m. to take his son to the doctor. Depending on how long that takes, he may not make it back into the office. Brent will be available via cell phone if you need to reach him.
Also, please make a note that Brent will be out on vacation the following days:
1/2 day (p.m.) Thursday, May 17
1/2 day (p.m.) Friday, May 18
all day Friday, May 25th | {
"pile_set_name": "Enron Emails"
} |
Thank you for a very successful holiday party. Debbie and I thoroughly
enjoyed the evening. Your hard work definitely paid-off for our entire
organization.
I would like to host a lunch for the committee, after the holidays, as a way
of thanking you. I will have Cindy coordinate your schedules.
Thanks again,
Stan | {
"pile_set_name": "Enron Emails"
} |
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E X T R E M E M A R K E T C O M M E N T A R Y
_____________________________________________________________________
LIVESTOCK: August live cattle closed off $0.45 at $73.70 today.
Speculative traders took profits today after the recent big runup had
pushed the market into oversold territory. I would not be surprised
to see more of a downside correction soon. Prices pushed to a fresh
four-month high Tuesday. Resistance lies at the $74.50 level. First
support lies at the $73.40 level.
August feeder cattle closed off $0.27 today, at $91.55. Prices scored
an "inside day" and took a rest after they hit a new contract high
Tuesday. Feeders are still over-extended on a short-term technical
basis. A bull flag looks to be forming on the daily bar chart, as
this week we saw an upside breakout from that pattern. First
resistance is seen at $92.00. Looking at the weekly continuation
chart for nearby futures, the next upside objective for the bulls is
resistance just above $92.00. First support is seen at $91.00.
August lean hogs closed up $1.65 today at $63.35. Prices closed near
the session high. The strong rebound continued today, after limit-up
gains seen Tuesday. The market just got too extended on the downside,
especially in the wake Friday's bullish USDA Hogs & Pigs report. Fund
buying was featured today, sources said. Prices today broke out above
and negated a steep five-week-old downtrend. The bulls now have the
near-term edge. However, I would not be surprised to see some
sideways consolidation in the coming sessions. Next resistance lies
at $64.00. First support is located at the 62.00 level.
GRAINS: July corn futures closed up 3/4 cent at $1.90 today. It was a
quiet "rest day" today after prices Tuesday scored another fresh
contract low. Funds have loaded up on the short side now. Good
growing weather in the Midwest and no threatening weather patterns in
the forecast continue. This market has no summertime weather premium
built into it, which will make it very susceptible to an upside spurt
even with a minor weather scare. I don't think there is much downside
left in corn, but I don't want to be a bottom-picker,
either--tempting as it may be at these low prices. Next support is
seen at $1.87 3/4. Next resistance is seen at $1.95.
July soybeans closed 1 3/4 cents lower at $4.37 1/2 today. Technical
damage occurred in the market this week as a five-week-old uptrend
line on the daily bar chart was penetrated on the downside and
negated. Now, it also looks like a minor double-top reversal pattern
could be playing out on the daily bar chart. Good growing weather and
no weather threats on the horizon have allowed the bears to take
control of this market. Funds have been good sellers in the bean pit
this week. Still more downside action this week would not surprise
me. First support is seen at the $4.35 area. First resistance is now
seen at $4.45 level.
July soybean meal closed off $1.60 at $160.20 today. Another down day
today negates a five-week-old uptrend line on the daily bar chart.
Bears are gaining steam now. After prices pushed to a fresh
four-month high Friday, they have seen a solid downside correction
this week. Bulls need to stop the bleeding soon or this weakness will
quickly become more than a downside correction. Next support comes in
at the $158.00 area. First resistance is seen at $162.60--today's
high.
July bean oil closed 6 points higher at 14.80 cents today. Today's
follow-through buying has confirmed a key reversal up, after prices
pushed to a fresh contract low on Tuesday and then staged a strong
rebound. This week, spreaders are unwinding short oil and long meal
positions. Oil is still technically much weaker than beans or meal.
But I would be surprised if there is much downside left in oil. Next
resistance comes in at 15.00 cents. Next support is seen at 14.60
cents.
July Chicago wheat closed 3/4 cents lower at $2.64 today. Prices
closed near the session low as traders looked at slack demand
prospects. Earlier in the session, prices were boosted by heavy
storms that hit Kansas and Oklahoma the past 24 hours. First support
lies at the $2.58 1/2 level--the contract low. Next resistance is
seen at $2.70.
K.C. July HRW wheat closed up 1 cent at $3.20 1/4 today. Prices
gapped higher today in the wake of the heavy storms that hit parts of
the Plains the past 24 hours. However, prices closed on the session
low. Still, the upside gap was not filled with the late retreat.
Also, there was follow-through buying today and a key reversal up on
the daily bar chart was confirmed. Recently, this market has seen a
series of V reversals--both up and down. Trading remains volatile.
Next resistance is seen at the $3.25 level. Next support is seen at
$3.20.
July oats closed up 1/2 cent at $1.12 1/4 today. Prices closed near
the session low today, as did wheat. The choppy activity at lower
price levels also favors the bulls. The past three weeks have seen
another minor uptrend develop on the daily bar chart. Oats will
continue to look to corn and wheat for direction. Next resistance
comes in at the $1.14 level. First support now comes in at $1.10.
SOFTS: July N.Y. sugar closed 15 points lower at 8.59 cents today.
Prices today dropped to another fresh four-week low as the recent
higher volatility at higher price levels has proven bearish. Also,
the rare and usually bearish broadening formation continues to play
out on the daily bar chart. Bears have the technical edge at present.
However, the market is overdone on the downside at present, on a
technical basis. Next support comes in at 8.40 cents--today's low.
First resistance is now seen at 7.72 cents--today's high.
July N.Y. coffee closed 65 points lower at 59.15 cents today. Prices
today came within 10 points of the contract low set in April. Bears
rule. Bulls can only hope for a strong rebound from the present price
level, which would signal a big double-bottom reversal. Still, given
the upcoming frost season in South America, I suspect the downside
from present levels will be limited in the coffee market. Speculative
short-players won't want to get too brave at this time of year. First
support comes in at the contract low of 58.80 cents. First resistance
is now seen at 63.00 cents.
July N.Y. cocoa closed $39 lower today, at $964. More technical
damage was inflicted by the bears today as prices hit another fresh
three-week low, as there was follow-through selling from Friday's
gap-lower trade. The bears are in control, but the market is
short-term overdone on the downside at present. Next support comes in
at $955. First resistance is now seen at $1,009--today's high.
July cotton closed 32 points lower at 40.72 cents today. Prices hit a
fresh contract low just yesterday, in the wake of a bearish USDA
cotton consumption report last Friday. Cotton is in a strong bear
market and any rebounds will be selling opportunities for the
bears--for now. My bias is still that we are not that far from a
bottoming process. Next support lies at 39.95 cents--the contract
low. First resistance is seen around 42.00 cents. Recently, I put
December New York cotton futures on my "Radar Screen" for a potential
long-side trade in the coming weeks. But first (and importantly),
this market has to me show solid strength, including some basing
activity at these lower levels.
July orange juice futures closed 90 points higher today, at 80.40
cents. Trading has turned volatile lately, but it still favors the
bullish camp. Bulls pushed prices to a fresh three-month high just
last Friday. Prices are still in an uptrend on the daily bar
chart--albeit a choppy one. Next resistance is now seen at 82.00
cents. Next support now comes in at 79.00 cents.
July lumber futures closed the limit of $10.00 lower today, at
$322.30. "What goes up, must come down." A V-Top reversal is playing
out in lumber. I still would be surprised if the upside fireworks are
over. The market was way overdone on the upside and this still could
be just a big correction before still-higher highs are scored. Expect
more volatility in the near term--on the upside and downside. The
next upside objective for the bulls is the $350.00 level. First
support is seen at $315.00.
METALS: August COMEX gold futures plummeted by $7.70, to 4267.40 an
ounce. Heavy long liquidation and stop-loss selling were featured in
the pit. The recent Commitments of Traders report showed the small
speculators had loaded up on the long side of gold futures recently.
Today, those weak longs were coughing up their positions. News wire
reports could offer no fundamental reason for the collapse in prices.
Technically, once gold dropped to near the $270 level, basis August
COMEX futures, the door was open for stop-loss selling and general
long liquidation. A big V-Top reversal has now formed and played out
on the daily bar chart. Pit reports said there was not much fresh
short selling interest Wednesday. Once again, the gold bulls mustered
the strength to show an impressive upside move, only to be kicked in
the teeth when a lack of follow-through buying interest at higher
levels prompted a price vacuum on the downside. There is a support
level around the $264 area, basis August futures. If that level gives
way, then the next support comes in at the $260 area. This market is
now short-term oversold, on a technical basis. Next resistance on the
upside is seen at the $275 area. For bulls to really get back on
their feet, they must push prices back above the $290 level. If
volatility persists, it will favor the bulls.
July silver closed off $0.095 today, at $4.445 an ounce. Like gold,
long liquidation and stop-loss selling hit silver today, and it was
prompted by the sell of in gold. Prices have now backed well off last
week's high and could be forming a V-Top reversal on the daily bar
chart. Bulls today lost much of their momentum they had gained that
saw prices push to a three-month high. Still, the recent increase in
volatility is suggestive of a bottoming process in silver. Next
support is seen at $4.40. First resistance is now seen at $4.50.
July N.Y. copper closed off 45 points today, at 76.25 cents. The sell
off in the precious metals has impacted copper this week. While this
deals the bulls a near-term setback, the higher volatility at lower
levels does favor the bulls. My bias is still that the lows are in
place for copper. Next support is seen at 75.00 cents. Next
resistance is seen at 79.00 cents.
ENERGIES: July crude closed off $0.14 at $28.52 today. Prices this
week are correcting from the big beating they took late last week.
Bears still have the edge, and in fact a bearish flag or pennant
pattern may be forming on the daily bar chart. Next resistance is
seen at 29.50. Next support lies at $28.00.
July heating oil closed 2 points lower today, at .7784. Prices are
still correcting downward after they last week hit a fresh
eight-month high. Bulls still have the edge. Next resistance is seen
at 80.00 cents. Next support is seen at 77.00 cents.
July unleaded gasoline closed 139 points lower at .9450 today. Prices
closed near the session low as the bears gain confidence. A rare and
usually bearish broadening formation is developing on the daily bar
chart. This increase in volatility at higher price levels suggests a
topping process in the market. Next resistance is seen at $1.00.
First support is seen at $.9300.
July natural gas closed 20 cents higher at $4.01 today. Prices today
saw a decent rebound from a technically oversold condition. The
market is still oversold on a short-term technical basis. Prices hit
a fresh nine-month low just Tuesday. Bears still have the big
advantage. Next support is seen at $3.67--today's low. First
resistance is seen at $4.25.
STOCKS, FINANCIALS, CURRENCIES: The June Euro currency closed 10
points higher at .8567 today. Bears are in control as prices hover
near the recent for-the-move low. In fact, a bearish pennant pattern
may be forming on the daily bar chart. Measuring implications of that
pattern, should a downside breakout occur, point to losses to the
.8300 area. Bulls' only hope is that last week's low of .8502 can
hold the losses. Next support is now seen at .8502. Next resistance
is seen at .8650.
The June Japanese yen closed 19 points lower at .8328 today. Prices
pushed to a fresh two-month high last Thursday and are this week
consolidating those recent gains. The recent push higher moved prices
out above the congestion area that had trapped prices for about two
and one-half months. Bulls still need to show some more upside
strength before I am confident in calling this an upside "breakout."
Next resistance now lies at the .8433 level. First support is now
seen at the .8200 level.
The June Swiss franc closed 8 points higher at .5625 today. Like the
Euro, bulls want to see last week's low hold up before they can gain
any momentum at all. And like the Euro, a bearish pennant pattern
could be forming on the daily bar chart. Measuring implications on a
confirmation of the pattern point to losses to the .5400 area. A
5-month-old accelerating downtrend line is in place on the daily bar
chart. Next support is seen at the .5588 level--last week's low.
First resistance comes in at the .5700 level.
The June Australian dollar futures closed 45 points lower at .5124
today. Prices pushed to a fresh 3-month high last week and bulls can
argue we are seeing corrective consolidation this week. Still,
downside price action last week penetrated on the downside and
negated a seven-week-old uptrend line on the daily bar chart. Bulls
should be worried about this. They need to show some fresh momentum
soon. First support is seen at .5069. First resistance is now seen at
.5225.
The June Canadian dollar closed 33 points lower today, at .6469.
Prices closed near the session low. If prices drop below the May low
of .6425, then bears will be on a level playing field with the bulls.
This currency had been near recent historic lows and I do not think
there is much more downside. In fact, a wedge pattern may be forming
on the daily bar chart that, if confirmed, would likely favor the
bulls. Next resistance is seen at the .6535 level. First support is
now seen at the .6450 level.
The June British pound closed 42 points higher at 1.4264. Prices are
rebounding after last Thursday prices fell below the early April low
of 1.4112. If there would have been follow-through selling, then the
door would have been open to steeper losses. If the losses can be
contained and prices rebound, one could still argue that price action
the past few weeks has been a "basing" before prices eventually turn
north. Next resistance is seen at the 1.4300 level. Next support now
comes in at the 1.4150 level.
The June U.S. dollar index closed 3 points higher at 118.31 today.
Bulls are still in firm control. In fact, a bullish pennant pattern
could be forming on the daily bar chart. The index last week pushed
to a fresh multi-month high. If bulls can push prices above and have
a close above the 119.00 level, then there is likely significantly
more upside potential to this rally, even though the index is still a
bit short-term overbought, technically. There is stiff resistance,
basis the longer-term charts, at the 119.00 area. Next resistance
lies at the 119.00 area. First support is seen at the 117.50 area.
September U.S. T-bonds closed 7/32 higher today at 98 20/32. The
market is consolidating at lower levels. Bears still rule. The next
upside objective for the bulls is the par level--100 even. But any
near-term rebound will be corrective in nature only, until prices can
push above the 102 area. Prices pushed to a six-month low just
recently. First support at 98 6/32.
The September U.S. T-note closed up 4.5 (32nds) today at 102.00.5.
Prices fell to a multi-month low just recently as bears rule. Severe
technical damage has been inflicted recently. First support is seen
at the 101.30.0 level. First resistance is seen at 102.30.5 level.
September Nasdaq futures closed 72.00 lower at 1805.00 today. Bulls
are losing technical ground that they had gained recently with the
push above the 2,000 level. It just shows how the stock indexes will
not let either the bulls or the bears have much of an edge, before
prices reverse. First resistance is now seen at 2,000. First support
is seen at the 1,750 area.
September S&P 500 futures closed 18.70 lower at 1260.10. We are
seeing some consolidation the past few days after prices hit a fresh
three-month high last week. Bulls are still encouraged by the
continuing uptrend off the March low, but they do need to stop the
slide lower seen the past few sessions. My bias is still that any
recovery in the stock market and the stock indexes won't be dramatic,
but a slower grind higher, with fits and starts. First resistance is
now seen at 1300.00. First support is now seen at the 1240.00 area.
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T O P N E W S
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STOCKS
Japan Stocks Review: Nikkei -2% on Deutsche downgrades/Nasdaq fall
http://news.ino.com/summary/?id=25601
Add2: US Equities Review: DJIA closes below 11,000 on tech selloff
http://news.ino.com/summary/?id=25599
UK Stocks Review: Weak tech stocks push FTSE-100 below 5,800
http://news.ino.com/summary/?id=25607
FOREX
US FX Review: Dollar remains mixed; traders hunting for clues
http://news.ino.com/summary/?id=25603
Asia FX Review: Euro/yen comes under pressure on broad selling
http://news.ino.com/summary/?id=25600
Europe FX Review: US fund buying limits euro's losses
http://news.ino.com/summary/?id=25602
CREDIT
US Credit Review: Only modest gains despite stock market slide
http://news.ino.com/summary/?id=25598
Europe Credit Review: Bond prices range-bound despite firm M3
http://news.ino.com/summary/?id=25604
Japan Credit Review: June ends up slightly in range-bound trades
http://news.ino.com/summary/?id=25606
COMMODITIES
US Futures Summary: Gasoline, gold hammered; natural gas soars
http://news.ino.com/summary/?id=25605
EXCHANGES
NYBOT Announces New Margin Requirements
http://news.ino.com/press/?release=24487
KCBT Value Line
Margin Changes Announced
http://news.ino.com/press/?release=24486
Pacific Exchange To Trade Options on Instinet Group and USEC
http://news.ino.com/press/?release=24485
60% Of IPE Holdings Shares Tendered To IntercontinentalExchange
http://news.ino.com/press/?release=24484
Simon Heale Appointed London Metal Exchange Chief
http://news.ino.com/press/?release=24483
____________________________________________________________________________
E X T R E M E F U T U R E S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/futures/
WINNERS
NGN1 Henry Hub Natural Gas Jul 2001 3.981 0.200 +5.25
ZM1 U.S. Treasury 6% Bond Jun 2001 103 184/256 4 15/32 +4.50
LHQ1 Lean Hogs Aug 2001 63.300 1.600 +2.59
XHQ1 Lean Hogs Aug 2001 63.27 1.57 +2.54
DAU1 BFP Milk Sep 2001 15.60 0.38 +2.50
HGK2 Copper May 2002 0.7905 0.0110 +1.39
OJN1 Orange Juice Froz. Conc. #1 Jul 2001 80.40 1.00 +1.26
MQU1 Mexican Peso Sep 2001 9.4652 0.1085 +1.16
RRN1 Rough Rice Jul 2001 5.660 0.060 +1.07
KWN2 Wheat Jul 2002 346 3 1/2 +1.02
LOSERS
XKM1 Gold Jun 2001 265.7 -11.9 -4.34
NGJ4 Henry Hub Natural Gas Apr 2004 3.780 -0.159 -4.21
NDM1 NASDAQ 100 Index Jun 2001 1786.00 -70.50 -3.80
CCN1 Cocoa Jul 2001 964 -38 -3.79
HUM1 New York Harbor Unleaded Gasoline Jun 20 1.0412 -0.0378 -3.51
XYU1 Silver 1,000 oz. Sep 2001 448.2 -15.8 -3.42
KIM1 Kilo Gold Jun 2001 263 -9 -3.31
GCZ2 Gold Dec 2002 276 -9.2 -3.24
LBU1 Random Length Lumber Sep 2001 305.40 -10.00 -3.17
PNU1 Propane Sep 2001 0.5050 -0.0125 -2.42
____________________________________________________________________________
E X T R E M E S T O C K S
____________________________________________________________________________
Updated every 10 minutes around the clock.
More at http://quotes.ino.com/analysis/extremes/stocks/
WINNERS
RHT RICHTON INTL 35.60 6.50 +22.41
BCR BARD (C.R.) 56.09 10.09 +21.93
BAU BACOU USA 28.00 4.60 +19.66
TARO TARO PHARMACEUTICAL IND 66.09 10.39 +18.65
IPIC INTERNEURON PHARMACEUTICALS 6.74 1.01 +17.84
ANST ANSOFT CORP 17.37 2.14 +14.04
MRVT MIRAVANT MEDICAL TECHNOLOGIES 12.24 1.49 +13.91
TT TRANSTECHNOLOGY 8.75 1.05 +13.29
VIP OPEN-JOINT/VIMPEL COMMUN ADS 17.20 1.90 +12.62
TELM TELLIUM INC 23.02 2.49 +11.66
LOSERS
UNEWY UNITED BUSINESS MEDIA PLC 10.69 -9.41 -46.82
EMEX EMEX CORP 16.98 -9.21 -34.89
ASFI ASTA FUNDING 8.71 -2.55 -25.50
AEGN AEROGEN 5.20 -1.74 -25.04
SABA SABA SOFTWARE 10.87 -3.08 -21.95
WEBX WEBEX COMMUNICATIONS INC 15.00 -4.01 -21.12
TIVO TIVO INC 7.25 -1.83 -20.13
BRZZ BRIAZZ INC 5.40 -1.34 -19.73
ADTK ADEPT TECHNOLOGY 10.06 -2.44 -19.15
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Copyright 1998-2001 INO.com. All Rights Reserved. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Peter F Keavey/HOU/ECT on 05/16/2001 04:00 PM ---------------------------
Peter F Keavey
05/23/2000 08:55 AM
To: [email protected]
cc:
Subject: philly hockey
---------------------- Forwarded by Peter F Keavey/HOU/ECT on 05/23/2000 08:53 AM ---------------------------
Sarah Mulholland
05/23/2000 07:19 AM
To: Maureen Smith/HOU/ECT@ECT, Peter F Keavey/HOU/ECT@ECT
cc:
Subject: philly hockey
---------------------- Forwarded by Sarah Mulholland/HOU/ECT on 05/23/2000 07:18 AM ---------------------------
[email protected] on 05/22/2000 07:09:21 PM
To: [email protected]
cc:
Subject: philly hockey
Enjoy!
---------------------- Forwarded by Christopher J. Bednar on 05/22/2000 06:18 PM
---------------------------
To: Christopher J. Bednar
cc:
Date: 05/18/2000 09:07 AM
From: Brian Abbott, Philadelphia, 565 / 5709
Subject: philly hockey
- phillyhockey.jpg
*******************Internet Email Confidentiality Footer*******************
Privileged/Confidential Information may be contained in this message. If you
are not the addressee indicated in this message (or responsible for delivery of
the message to such person), you may not copy or deliver this message to anyone.
In such case, you should destroy this message and kindly notify the sender by
reply email. Please advise immediately if you or your employer do not consent to
Internet email for messages of this kind. Opinions, conclusions and other
information in this message that do not relate to the official business of my
firm shall be understood as neither given nor endorsed by it. | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Steven J Kean/NA/Enron on 10/30/2000 07:22 AM -----
Calvin Eakins
10/27/2000 05:02 PM
To: Kenneth Lay/Corp/Enron@ENRON, Jeff Skilling/Corp/Enron@ENRON, Joseph W
Sutton/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, [email protected], Cliff
Baxter/HOU/ECT@ECT, Sanjay Bhatnagar/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT,
Rick Buy/HOU/ECT@ECT, Richard Causey/Corp/Enron@ENRON, Diomedes
Christodoulou/SA/Enron@Enron, Stephanie Harris@ENRON, Andrew S
Fastow/HOU/ECT@ECT, Calvin Eakins/Corp/Enron@ENRON, Mark
Frevert/NA/Enron@Enron, Kevin Hannon/Enron Communications@Enron
Communications, David W Delainey/HOU/ECT@ECT, David
Haug/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stanley Horton/Corp/Enron@Enron,
Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Steven J
Kean/NA/Enron@Enron, Mike McConnell/HOU/ECT@ECT, Rebecca
McDonald/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Jeffrey McMahon/HOU/ECT@ECT,
Cindy Olson/Corp/Enron@ENRON, Karen S Owens@ees, Ken Rice/Enron
Communications@Enron Communications, Jeffrey Sherrick/Corp/Enron@ENRON, John
Sherriff/LON/ECT@ECT, Elizabeth Tilney/HOU/EES@EES, Greg Whalley/HOU/ECT@ECT,
Thomas E White/HOU/EES@EES, John
Garrison/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, J Mark Metts/NA/Enron@Enron,
Daniel Brown/NA/Enron@Enron, Dana Lee/HOU/EES@EES, George
Wasaff/NA/Enron@Enron
cc:
Subject: Expenditures with Minority/Women Owned Business Enterprises through
September 30, 2000
Ladies and Gentlemen:
Set forth below for your information and review are the expenditures with
Minority/Women Owned Business Enterprises through September 30, 2000.
Should you have any questions, please contact me at x69500.
Calvin Eakins
Director, Minority & Women Business Development
Enron Global Strategic Sourcing
[email protected]
713/646-9500 | {
"pile_set_name": "Enron Emails"
} |
=====================================================================
THE STANDARD'S
S T O C K G R O K
What Financial Reporters Think of Wall Street
=====================================================================
For money & markets news, visit:
http://www.thestandard.com/subject/finance/
Friday, June 1, 2001
TOP GROKS:
* What's Your Pleasure? Sorry, No Tech Rebounds
* Palm? Please - So Uncool!
* Analysts as Demons, Part 273
PUNDITS SAY THE DARNDEST THINGS:
* Rob Walker, Slate: On the trail of a 'merger of equals'
* David Futrelle, Money.com: It's deja vu all over again
/=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= advertisement=-=-=
THE STANDARD GOES WIRELESS! Now you can get The Standard's cutting edge
Internet Economy news and information delivered straight to your
Web-enabled phone or pager. Whether you log on for breaking news,
stock quotes, or company and people information, you can now retrieve
critical intelligence on the Internet Economy anytime, anywhere you go.
Just enter "thestandard.com" on your key pad to get The Standard's
powerful content. http://click.email-publisher.com/oaaacdsaaP8mxbVDzeiaaaaczb/
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=/
TOP GROKS
~~~~~~~~~
What's Your Pleasure? Sorry, No Tech Rebounds
While not quite as animated as the office pool predicting the next
alcohol bust for a presidential offspring, stock scribes' recent banter
over the future of tech stocks concluded that a bust of a different
kind is already here - and isn't going away anytime soon.
So what if tech stocks are up 30 percent or so since mid-April?
Jawboning over what the market might do in the short term is "about
as intellectually stimulating as reading the phone book," kvetched
Motley Fool's Bill Mann. As for forecasting the market's next moves,
"I personally don't give a damn," Mann chest-thumped. "That's like
worrying about who is leading at the one-mile mark in a marathon."
Newsweek columnist Jane Bryant Quinn pooh-poohed bright-eyed
investors who treat tech stocks "as if they were lottery tickets -
hoping to win your money back by a lucky draw." Better not hold
your breath, she warned. "Historically, bubbles don't pop and
reinflate," James Stack of InvesTech Research told the Newsweek
columnist.
Read the full Grok:
http://www.thestandard.com/article/0,1902,26841,00.html?nl=stg
----------------------------------------------------------------------
Palm? Please - So Uncool
It wasn't that long ago that all of Wall Street was cheering for Palm,
notes SmartMoney.com. The same could be said of the media. But in
the two weeks since Palm announced that - whoops - fourth-quarter
revenues would sneak in at less than half of the $300 million-ish
predicted, Palm seems to have run out of buzz.
Which do business scribes dislike more, Palm's product or the
company? It's a toss-up. On Yahoo's FinanceVision, commentator
Caleb Goddard bragged about a phone-number swapping session
where his pen-and-paper combo had the job done long before his
Palm Pilot-wielding friend had even figured out how to switch from
the keyboard to graffiti mode. As for reading on the dinky screens,
forget it.
Read the full Grok:
http://www.thestandard.com/article/0,1902,26843,00.html?nl=stg
----------------------------------------------------------------------
Analysts as Demons, Part 273
What's next, a Securities Analyst Registry? Neighbors can log on to
find out whether one of these tainted individuals is residing near
them. Maybe local police can hand out flyers. Maybe it's time to
resurrect the scarlet A, this time for Analyst.
Round one of the media's post-heyday coverage of Net analysts had
a decidedly deconstructionist angle: An up-close-and-personal look
at the way the ex-heroes had spent their bubble days. The early
phase of round two has continued the dissection, but with a twist:
Rather than report more me-too exposes of naughty analyst behavior,
business journos are covering the regulatory investigations into those
naughty analysts. It's the same technique the media used with
Princess Diana. Those mags that purported to be above the slavish
post-mortem coverage simply worked in their share of Di photos by
casting their coverage as a look at the media crush.
Read the full Grok:
http://www.thestandard.com/article/0,1902,26846,00.html?nl=stg
----------------------------------------------------------------------
PUNDITS SAY THE DARNDEST THINGS
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Rob Walker, Slate
Upshot: On the trail of a "merger of equals."
Do the Math: Lucent Technologies wanted a merger with Alcatel, but
the all-stock transaction reportedly would have dealt Alcatel
shareholders 58 percent of the new company, and Lucent 42 percent.
That looked like an acquisition to everyone but CEO Henry Schacht
& Co.
Seriously, Have You Ever Seen One? "Yes, the merger of equals, an
interesting creature, one that is captivating in the abstract but elusive
in real life."
What Was Henry Thinking? After all, someone has to have the top
job, and then there's the issue of how to divide board seats.
"Variations on this not-shocking discovery - that in any business
merger, one side is going to end up dominant - are played out
constantly."
Beggars Can't Be Choosers: "You would think that Lucent and
Schact would be highly motivated to close the deal and to recognize
that they were not exactly dealing from a position of great strength.
In short, you'd think they'd realize that they were being acquired."
Lucent's Acquisition Epiphany
http://slate.msn.com/cx/moneybox/entries/01-05-30__109015.asp
----------------------------------------------------------------------
David Futrelle, Money.com
Upshot: It's deja vu all over again.
Once Burned, Never Shy: Didn't the tech crash cure most investors
of the idea that there are no second chances? No way. The recent
rally saw the return of bubble-thinking in all of its dubious glory, as
investors plunged back into an assortment of momentum stocks
simply because they were going up.
Tied to the Rails: When Morgan Stanley analyst Jay Deahna recently
issued the not-so-subtly titled report "The Train has Left the Station,"
he created a mini buying frenzy for Teradyne and LAM Research as
investors scrambled to get aboard before it was too late. Too late for
what? The stocks Dehna mentioned are about even with where they
were.
Mea Culpa: "My point here isn't to take pot shots at anyone's stock
picking ability (after all, I'm the guy who recommended Sun last
Friday). The point is that you should base your investment decisions
on a stock's fundamentals - not on fear or greed."
The Tech Express Goes Local
http://www.money.com/money/depts/techinvestor/archive/010531.html
/=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= advertisement=-=-=
**The Standard's new COMPANY INDEX**
Find information about hundreds of companies in our new COMPANY
INDEX. Browse through the alphabetical listings, industries and
categories, or perform a search to find the company you're looking for.
The Company Dossier hosts articles, a company profile, stock
information and financial overviews, key players and contact
information. http://click.email-publisher.com/oaaacdtaaP8mybVDzeiaaaacAb/
=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=/
MORE LINKS
~~~~~~~~~~
Cyberian Winds Blind PC Connection
http://www.msnbc.com/news/580762.asp?cp1=1
Do AOL Insider Sales Belie the Buyback?
http://interactive.wsj.com/articles/SB991170361420468941.htm
(Paid registration required.)
Breaking Up Is (Still) Hard to Do
http://www.msnbc.com/news/578467.asp?cp1=1
What's Next for Microsoft?
http://www.cnbc.com/010530plotkin-stocks.html
Talking Heads' Home on Hold
http://www.nypost.com/business/31497.htm
No Summer Romance in Store for AT&T Wireless
http://www.thestreet.com/tech/telecom/1444593.html
The Prodigal Dot-Coms' Return
http://www.businessweek.com/magazine/content/01_23/b3735094.htm
Venture Capitalists Seek Less Adventure
http://www.usnews.com/usnews/issue/010604/biztech/venture.htm
Rich Prospects for Online Luxury Stores
http://www.forbes.com/2001/05/29/0529luxuryshopping.html
STAFF
~~~~~
Written by Deborah Asbrand ([email protected]).
Edited by Suzan Revah ([email protected]).
GET THE MAGAZINE
~~~~~~~~~~~~~~~~
4 RISK-FREE issues at this URL:
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FEEDBACK AND PROBLEMS
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Send letters to the editor to [email protected].
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You can also contact us via phone or mail:
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Copyright 2001 Standard Media International | {
"pile_set_name": "Enron Emails"
} |
They will also be required to sign a confidential, proprietary information form. This form is in the Supplement Section where you got the attachments in your original message below. This confidentiality form requiring signature is attached as follows. EF
-----Original Message-----
From: Matthews, Ron
Sent: Monday, August 13, 2001 4:09 PM
To: '[email protected]'
Cc: Watson, Kimberly; Faucheaux, Eric; Gottsponer, Morgan
Subject: Caithness - Big Sandy Project
Attached are the engineering standards you requested on our latest telephone discussion with Kim Watson. Also attached is a cost estimate summary that the numbers were manually into an Excel spreadshhet. As stated, the full cost estimate will follow through regular mail along with a hard copy of the engineering standards. If you have any questions, please call Kim or myself.
<< File: 4701.doc >> << File: 5405-w7.doc >> << File: 5420-w5.doc >> << File: 5421-w9.doc >> << File: 5423-w3.doc >> << File: 5425-w4.doc >> << File: 5430-w4.doc >> << File: 5440.doc >> << File: Timberline Summary 010813.xls >> | {
"pile_set_name": "Enron Emails"
} |
MANN, CYNTHIA K,
?
You have been selected to participate in the Mid Year 2001 Performance
Management process. Your feedback plays an important role in the process,
and your participation is critical to the success of Enron's Performance
Management goals.
?
To complete a request for feedback, access PEP at http://pep.enron.com and
select Complete Feedback from the Main Menu. You may begin providing
feedback immediately and are requested to have all feedback forms completed
by Friday, May 25, 2001.
?
If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:
Houston: 1.713.853.4777, Option 4 or email: [email protected]
London: 44.207.783.4040, Option 4 or email: [email protected]
?
Thank you for your participation in this important process.
?
The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN." Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list. NOTE: YOU WILL
RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.
?
Employee Name:
ADAMS, SUZANNE
BERNSTEIN, MARK
CARNAHAN, KATHLEEN
JACOBY, BEN
MAY, THOMAS
MITRO, FRED
RORSCHACH, REAGAN
THOME, STEPHEN
WHITE, ANN ELIZABETH | {
"pile_set_name": "Enron Emails"
} |
Start Date: 3/10/01; HourAhead hour: 3; HourAhead schedule download failed.
Manual intervention required.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001031003.txt
!!!General SQL error.
Couldn't update; currently locked by user 'admin' on machine 'ECTHOU-BPS4'.
Table
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress.
!!!A user transaction is already in progress. | {
"pile_set_name": "Enron Emails"
} |
Please see attached.
Regards
Megan Duffill
- 2_0205432.doc | {
"pile_set_name": "Enron Emails"
} |
No idea what this is? Can somebody ring her prior to giving her access.
From: Bob Shults 31/01/2000 16:25
To: Louise Kitchen
cc: Mark Taylor/HOU/ECT@ECT
Subject: Your approval is requested
Are you aware of any need to get state approval of EOL. Please see request
for access below with comment.
---------------------- Forwarded by Bob Shults/HOU/ECT on 01/31/2000 10:24 AM
---------------------------
Jennifer deBoisblanc Denny
01/31/2000 10:18 AM
To: Bob Shults/HOU/ECT@ECT
cc:
Subject: Your approval is requested
FYI
In case this will affect marketing of EOL
See comments below.
---------------------- Forwarded by Jennifer deBoisblanc Denny/HOU/ECT on
01/31/2000 10:17 AM ---------------------------
From: Information Risk Management/HOU/ECT
Subject: Your approval is requested
Security Resource Request System
Application Approval
Please review and act upon this request. You have received this eMail because
you are listed as an approver on the original request.
Instructions
For: Janine Migden
Request Original:
Application Name: EOL - Website access (US)
Request Type: Grant
Role(s): EOL- Read Only Guest ID
Comments: Help commercial groups get state Commission acceptance of EOL. Review the
request in the Request section at left.
For more information regarding who the request is for, do the following:
Click on the name for PeopleFinder info
See the Further Information section below
In the Approval Section, select Approve or Reject, enter comments as
necessary and click [Submit].
Further Information
Requestor: Janine Migden/DUB/EES
Manager:
Request Date: 01/28/2000 02:19:07 PM
RC #: 100088 WO #:
Company #: Enron Corp Priority: Normal
General Comments: | {
"pile_set_name": "Enron Emails"
} |
We did recommend using the DJ index. But subsequent to that, I believe we filed as part of the "ARM" coalition, recommending a bottom's-up approach. Is that right Sue? However, I don't think it's accurate to say that we "withdrew" the DJ index recommendation. Both our original DJ recommendation, and the bottom's up recommendation, are still sitting at the PUC. I think that's how things currently stand.
Best,
Jeff
-----Original Message-----
From: Steffes, James D.
Sent: Thursday, October 11, 2001 11:05 AM
To: Dasovich, Jeff
Subject: FW: CA question
FYI
-----Original Message-----
From: Steffes, James D.
Sent: Thursday, October 11, 2001 7:51 AM
To: Mara, Susan; Swain, Steve
Subject: FW: CA question
Steve --
We did originally file that the replacement for the PX Credit should be the DJ Index. My recollection is that we did withdraw this argument, however I've include Sue Mara on this to double check. If we haven't, I'd guess that is no longer URM's position?
Jim
-----Original Message-----
From: Swain, Steve
Sent: Wednesday, October 10, 2001 4:54 PM
To: Steffes, James D.
Subject: CA question
I spoke with Mary Lynne today, and she said that once upon a time (after the PX expired) we filed something asking the CPUC to make the DJ index a substitute for the PX credit. Does this ring a bell? And the more important question -- did we ever withdraw that request? Thanks. | {
"pile_set_name": "Enron Emails"
} |
I was informed of a situation where Ameripol was receiving liquids in our
gas. They claim they suffered losses of $180,000 in equipment and product
damage. They are asking for reimbursement. Please let me know what happened
Gary and Dan what damages they could collect.
Thanks,
Gary | {
"pile_set_name": "Enron Emails"
} |
http://www.risklab.ch/ | {
"pile_set_name": "Enron Emails"
} |
Please register me as Vince Kaminski's free guest at the Houston session of
the above conference on 31/8 and 1/9.
Many thanks,
Steve Leppard
Enron Europe Research Group | {
"pile_set_name": "Enron Emails"
} |
Louise,
You may want to send a note to your commercial team to channel all new customer requests through Dave Forster and me. I would like to be copied to make sure Dave has a clue as to what are real priorities. Once we get up and running and the volume drops, I would be happy to coordinate this effort.
Bill | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Newton, Lisbet
Sent: Wednesday, August 08, 2001 8:58 AM
To: Lakho, Shahnaz
Subject: EDI setup for pipes
Shahnaz,
I've attached a document Donna requested that I forward to you to begin the EDI setup for pipes on ES. If you have any questions on the enclosed please advise.
Regards,
Lisbet Newton.
------------------
On a side note:
Hope your trip went well. I'm assuming you didn't get stuck in a swamp or end up putting your other two passengers in the trunk!! Ha ha... | {
"pile_set_name": "Enron Emails"
} |
John, I believe your message was sent to me by mistake. I am returning it to
you. Jim
---------------------- Forwarded by James Derrick/Corp/Enron on 12/01/2000
02:29 PM ---------------------------
John M Belew @ ENRON_DEVELOPMENT
11/29/2000 12:28 AM
To: Executive Compensation@ENRON
cc:
Subject: Re: Deferral Enrollment 2001
Please e-mail my ID number to me - I am in India and will be here past the
deadline.
Thanks,
John | {
"pile_set_name": "Enron Emails"
} |
To all,
Please forward documents to EB2116c going forward.
Thanks,
Joe | {
"pile_set_name": "Enron Emails"
} |
Good Day:
Attached is our monthly TradeSpark SO2 and OTC NOx Market Price Indices for
January 2001.
Please give us a call if you have any questions or comments regarding our
bulletins.
NOTE: The attached bulletin is in Adobe Acrobat 4.0. If you do not have
Adobe Acrobat Reader version 4.0, go to the URL below to download this free
software.
http://www.adobe.com/products/acrobat/readstep.html
Thank you,
Joshua Piver
Trade Spark 212-938-4250
-----------------------------------------------------------------------
If you would prefer not to receive further messages:
1. Click on the Reply button.
2. Replace the Subject field with the word remove.
3. Click the Send button.
You will receive one additional e-mail message confirming your removal.
- 012501so2nox.mpi.pdf | {
"pile_set_name": "Enron Emails"
} |
Assigned to: CN=Greg Whalley/OU=HOU/O=ECT
Updated by: CN=XchgAdmin/O=Enron | {
"pile_set_name": "Enron Emails"
} |
Dan,
I need a Master Firm Purchase/Sale Agreement in place with Intercontinental
Terminals Company.
This company is located at 1943 Battleground Road, P.O. Box 698, Deer Park
Texas 77536-0698.
My contact is Lynn Bingham (281) 884-0312. They have showed interest in doing
a fixed rate. That
is why I would like for them to sign a Master contract at this time. That way
when we agree on a price
we can act on it without having to wait on getting them approved. They passed
along to me that they
are a sister company of Global Octane. Call me with any questions. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Debra Perlingiere/HOU/ECT on 04/19/2000
10:00 AM ---------------------------
Connie Sutton
04/07/2000 03:34 PM
To: Monica Jordan Richards/HOU/ECT@ECT, Debra Perlingiere/HOU/ECT@ECT,
Richard Jeffrey/Corp/Enron@Enron
cc: Russell Diamond/HOU/ECT@ECT, Veronica Espinoza/Corp/Enron@ENRON, Brad
Schneider/Corp/Enron@Enron, Jeffrey T Hodge/HOU/ECT@ECT
Subject: Top 40 Accounts.
Here is the list of the top 40 with the information pertaining to deals and
activities. I have made a recommendation of what type of contract or to
terminate contracts. I will be out until April 14th. Hopefully by then you
will be able to get some of the Enfolio's and GISB's out and credit will be
able to supply to you the final sheets you are missing. | {
"pile_set_name": "Enron Emails"
} |
See below. Can we get some help on the IBM issues?
----- Forwarded by Steven J Kean/NA/Enron on 11/12/2000 02:36 PM -----
Erin Rice
11/10/2000 11:08 AM
To: Steven J Kean/NA/Enron@Enron, Mark Palmer/Corp/Enron@ENRON
cc: Courtney Votaw/NA/Enron@Enron, Mary Clark/Corp/Enron@ENRON
Subject: Re: BackWeb
Steve:
At this point, our IT contacts are backpedalling a bit and suggesting they
can overcome the TIBCO and Terminal Server problems. There are still four
important issues, however:
IT still cannot commit to transferring messages across domains. This means
that messages initiated at Corp and intended for the entire Enron
organization will not reach any business units outside the Corp domain.
No messages will reach the EES organization unless IBM agrees not to use
their proprietary message delivery tool, WebSphere, and will use WebLogic
instead. WebLogic is required by BackWeb, although it is designed by a
separate company.
HR, intended to be a key user of this tool, will not use BackWeb because
survey responses cannot be made anonymous. HR has already purchased a tool
called CONFIRMIT that can execute anonymous surveys.
Messages will not be delivered simultaneously to all users in the same
domain, nor will they be delivered for two to five hours after they are sent
by the message administrator.
Another thing to consider is that these messages will be set to expire and
disappear within a set period of time, meaning users cannot retrieve them and
read them later (as they can with e-mail). This means that I could be away
from the office for several days and miss a message entirely, because it
would have expired and disappeared by the time I returned.
The plain fact is that a few members of IT are pushing this initiative, but
they lack commercial sponsorship. They are hoping Corp will foot the bill
for a pilot which will allow them to fully test this tool before implementing
it company-wide.
Please let us know if you have additional questions.
- er
----- Forwarded by Courtney Votaw/NA/Enron on 11/09/2000 12:08 PM -----
Steven J Kean
11/09/2000 11:35 AM
To: Courtney Votaw/NA/Enron@Enron
cc:
Subject: Re: BackWeb
Do we have a sense for how many we can reach, how many we can't and where
they are? Are whole offices (eg Tokyo) unreachable or is it only those who
have home offices?
Courtney Votaw
11/08/2000 11:02 AM
To: Mark Palmer/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
cc: Erin Rice/Corp/Enron@Enron
Subject: BackWeb
Mark and Steve-
Erin Rice and I would like to meet with you to discuss the issues concerning
BackWeb before we proceed. As you can see from the Design Document, they are
pretty significant.
Thanks,
Courtney | {
"pile_set_name": "Enron Emails"
} |
Dan, please let me know if you need some history of the changes.
Steve
ext. 36900
---------------------- Forwarded by Steven Curlee/Corp/Enron on 11/03/2000
11:22 AM ---------------------------
From: Russell E Murrell on 11/03/2000 09:29 AM
To: [email protected]
cc: Steven Curlee/Corp/Enron@Enron, Dan J Hyvl/HOU/ECT@ECT
Subject:
Attached is a revised draft of the QNT confirm.
Russell Murrell
(312) 541-1159 | {
"pile_set_name": "Enron Emails"
} |
Sorry about that! I started on around May 8th and I plan on rotating around
the end of the year. Thanks and sorry for the delay.
Ben | {
"pile_set_name": "Enron Emails"
} |
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