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I can't tell by Lotus Notes, is anyone aware of a "credit sleeve" with TMG?
----- Forwarded by Tana Jones/HOU/ECT on 03/27/2001 03:55 PM -----
Linda Sietzema
03/26/2001 11:11 AM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: TMG Financial Products Inc.
Tana,
I have a favour - Jon McKay of our office is wondering if you have any record
of a deal with TMG Financial Products Inc. that is a one-off transaction
dealing with "credit sleeving"?
All we have here is a copy of an ISDA with them - not what he's looking for.
Thanks
Linda
403-974-6908 | {
"pile_set_name": "Enron Emails"
} |
I hope you had a good Mother's Day. Sorry I did not reach you. The
circuits were busy when I tried during the evening. It was nice to get the
big hello from you and the kids. | {
"pile_set_name": "Enron Emails"
} |
Mr Schwieger,
We are excited to announce the formation of the Emery Financial Group of First Union Securities. Effective this morning, based on a wide array of issues, we have resigned from UBS PaineWebber. We have a strong desire to continue the relationship that we have established with you. We are currently in the process of contacting you by phone. Please feel free to contact us at your convenience to discuss why we feel that this change will provide a mutual benefit for both yourself, and to the Emery Financial Group in terms of the service it will allow us to provide for you. Following is a list of our new phone numbers:
Rocky Emery:713-853-2401
Pat Dowd: 713-853-2403
Hank Emery: 713-853-2407
Toby Pullig: 713-853-2383
Vince Weir: 713-853-2384
Julie Haviland: 713-853-2386
Caye Taylor: 713-853-2366
Ana Hilario: 713-853-2385
We look forward to hearing from you!
Sincerely,
The Emery Financial Group: | {
"pile_set_name": "Enron Emails"
} |
So, I got the scoop from Phil, and he says that YOU called him and told him
the Riverside deal would be decreased to .55 from the usual .8 - go figure!
Also, it looks like Jeremy just missed the .8 mw of generation in the 4/15
and 4/16 sheets, which in turn I did not include in your sheet. I've revised
it and attached the spreadsheet, but please let me know if you have any other
questions.
Daniel Kang@EES
04/18/2001 06:47 AM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Re: Daily EES Positions through 4/19
Hey Kate,
For 4/15 and 4/16, our schedules that we sent you show a Riverside
Generatioin component of 0.8 every hour (SP15). This is not reflected in
your current April update. The EnPower columns for these days should be
increased by 0.8 for every hour. Right?
Also, The generation component that I sent you for Wednesday and Thursday
(which I sent Monday morning) had a generation component of 0.8. In reality,
it was actually 0.55. I didn't have the generation schedule from Riverside
and had to assume a value so I assumed it would be 0.8 because that's where
it had been for a while. In your current file, you have the correct value of
0.55. How did you know this? Did Riverside call you to tell you they were
at 0.55 instead of 0.8? Let me know. Thanks.
Dan | {
"pile_set_name": "Enron Emails"
} |
Sorry bubbie, it's been a freas show here. No time to talk, but I will
attend to the invoices immediately.
"Ben Macklowe" <[email protected]> on 01/12/2001 12:45:21 PM
To: <[email protected]>
cc:
Subject: hi!
Hi Jeff:
?
Hope you're doing great, everything is pointing towards your company making
more money than the rest of the Dow combined this year!!!!
?
We have two open invoices for you, which I've attached for your
convenience.? We also have a lot of bills to pay.? Can you take care of
these please?? Thank you in advance.
?
I know you wanted to send back the Rousseau hanger and the Galle mushroom
ceramic.? I spoke with my Dad, and he said it's ok to send it back to us to
sell for you.
?
We want to ship you all the fabulous objects you've acquired here, when can
we do that?
?
How's your new home?
?
Ben | {
"pile_set_name": "Enron Emails"
} |
Hey Steve and Melissa....
?
Attached are two files - one of which you should be able to access.? It
includes a map with a colored line highlighting the route to our house.?
?
Look forward to seeing you this weekend...?
?
Rob and Diane
- How to get to the NM Keans.ppt
- Map to Rob & Diane.pdf | {
"pile_set_name": "Enron Emails"
} |
I sent an e-mail to MAPP about possibly attending the OASIS class the week of
March 19th. Just waiting on the specific dates and times before I can
commit. Also need to talk to the Hourly brass about attending!!!!!!!!!!!
To: Bill Rust/HOU/ECT@ECT
cc: Matt Lorenz/HOU/ECT@ECT, Patrick Hanse/HOU/ECT@ECT, Terri
Clynes/HOU/ECT@ECT
Subject: Re: OASIS 1.4 Conversion on 3/1/2001 Update
We need to send someone with more experience than Karla and Gary have
currently. I would suggest Pat or Matt if they can get away for a day. If
not them, maybe they can suggest someone from the hourly desk.
ds
Enron North America Corp.
From: Bill Rust 02/14/2001 01:34 PM
To: Doug Sewell/HOU/ECT@ECT
cc:
Subject: Re: OASIS 1.4 Conversion on 3/1/2001 Update
Doug,
While I would like to go to this OASIS seminar, I will be in Las Vegas
Tuesday afternoon through Thursday night, 20 MAR - 22 MAR. Who else can we
send? Karla? Gary?
Bill Rust
From: Doug Sewell 02/14/2001 10:43 AM
To: Bill Rust/HOU/ECT@ECT
cc: Terri Clynes/HOU/ECT@ECT
Subject: OASIS 1.4 Conversion on 3/1/2001 Update
Bill, here is the training I told you about. We definitely need someone to
attend to keep up with MAPP changes. Are you on the MAPP email distribution
list yet? Let me know if you need help getting on.
ds
---------------------- Forwarded by Doug Sewell/HOU/ECT on 02/14/2001 10:41
AM ---------------------------
"William J. Head" <[email protected]>@mapp.org on 02/13/2001 04:18:05 PM
Sent by: [email protected]
To: <[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>,
<[email protected]>, <[email protected]>, <[email protected]>, <[email protected]>
cc: <[email protected]>, <[email protected]>, <[email protected]>
Subject: OASIS 1.4 Conversion on 3/1/2001 Update
To: ALL OASIS USERS
From: Tami Anderson, MAPP Transmission Operations
Dan Fredrickson, MAPP Transmission Operations
Jolene Gleason, MAPP Transmission Operations
Date: Tuesday, February 13, 2001
Subject: OASIS 1.4 Conversion on 3/1/2001 Update
This is a notice to update the OASIS users on the status of the MAPP
implementation of the 1.4 version of OASIS.
Several processes are on-going in an effort to meet the March 1, 2001 OASIS
1.4 production date. These include:
1. Communication process:
a. OASIS Workshop: Feb 14-16:
All Sessions are currently full for the Lecture and Lab.
b. For the OASIS users who were unable to attend this Workshop and are
still
interested in taking the class, MAPP Staff would like to offer another class
the week of March 19-23. We have received enough potential interest to teach
two more lecture/lab sessions. Please send an email (if you have not already
done so) to [email protected] if you are interested in attending a class
during that week.
2. Implementation process:
a. OASIS 1.4 Beta Releases and bug fixes continue to be released by ESCA
(the JTSIN vendor) on a daily basis. The next major software release will
be OASIS 1.4 Beta 3, on Friday, February, 16:
OASIS 1.4 Beta Release #2 is located at:
http://mappb3.oasis.mapp.org/OASIS14/NODE/MAPPB3
The only requirement to use this test node is a valid Tradewave certificate.
Please send an email to [email protected] to indicate any problems
that are encountered while testing this beta release.
b. MAPP Validation and Request Evaluation Processes revised:
MAPP Staff is working with OATI to implement the modifications required to
the automated
processes due to the OASIS 1.4 changes. Testing will continue through the
month of February.
c. Attached are tables indicating some of the major changes in requesting
service that OASIS users should be aware of. These tables show pre- and
post-OASIS 1.4 functionality. OASIS users are encouraged to familiarize
themselves with these changes, and to exercise them on the test site prior
to the March 1 implementation.
d. Coming next week: February 28 / March 1 Cutover Plan
Thank you.
Tami A. Anderson
MAPP Senior Engineer
[email protected]
Phone: 651-632-8423
Dan Fredrickson
Supervisor
[email protected]
Phone: 651-632-8441
Fax: 651-632-8417
Jolene Gleason
MAPP Senior Engineer
[email protected]
Phone: 651-632-8444
- Summary of OASIS 1_4 Changes.doc | {
"pile_set_name": "Enron Emails"
} |
jeff
----- Forwarded by Jeffrey A Shankman/HOU/ECT on 02/06/2001 08:50 AM -----
Michael J Beyer
02/05/2001 06:30 PM
To: Mike McConnell/HOU/ECT@ECT, Jeffrey A Shankman/HOU/ECT@ECT, George
McClellan/HOU/ECT@ECT, Kevin McGowan/Corp/Enron@ENRON, David Gorte/HOU/ECT@ECT
cc: William Giuliani/HOU/ECT@ECT
Subject: Mine Tours
Gentleman,
We are currently planning a three day trip in early March to provide you with
the opportunity to visit the coal properties in our portfolio and meet the
principals. These include the following:
DPR Holding Company Chris Cline Beckley W. Va.
The American Coal Company Bob Murray Galatia, Ill.
BMR Resources Richard Gilliam Benham, Ky.
We plan to use the corporate jet in order to facilitate transportation to
these garden spots. You will have the option of touring all three operations
or limiting your visits to a specific mine/principal. Each visit will include
an underground mine tour.
Bill Giuliani will be coordinating the visits for Enron and will be
contacting your assistant this week. Please let us know of your availability
and particular areas of interest.
Mike | {
"pile_set_name": "Enron Emails"
} |
Let's discuss at 11 am meeting today.
Alan
-----Original Message-----
From: Shackleton, Sara
Sent: Thursday, January 17, 2002 5:25 PM
To: Tweed, Sheila; Aronowitz, Alan
Subject: EY
Just spoke with Cindy Ma who tells me that Wilbur Foster will be in Houston next Thurs/Fri. She again says that Millbank is asking about our strategy for handling in the money gas swaps.
I know you guys are managing the EY relationship and I just wanted to let you know how she's bouncing.
Sara Shackleton
Enron Wholesale Services
1400 Smith Street, EB3801a
Houston, TX 77002
Ph: (713) 853-5620
Fax: (713) 646-3490 | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Mark Taylor/HOU/ECT on 11/30/2000 10:08 AM -----
SULLIVAN&[email protected]
11/28/2000 04:55 PM
To: [email protected]
cc:
Subject: S&C Memo Re: Commodity Futures Trading Commission: Final Rulemaking
for a New Regulatory
Re: Commodity Futures Trading Commission: Final Rulemaking for a New
Regulatory Framework for Multilaeral Transaction Execution Facilities,
Intermediaries and Clearing Organizations
Attached is a memorandum from Sullivan & Cromwell
concerning the above subject. A summary is also included at the end of
the text of this e-mail message.
The attached file is in Adobe Acrobat
format. We believe most PCs will already have an Acrobat viewer
loaded; we can provide free copies if Acrobat is not already loaded,
and free copies can also be downloaded from the Adobe Acrobat web
site at www.adobe.com. To view or print the memo use your e-mail
system's function for opening attachments in their native format.
Hard copies can be obtained from Ivy Moreno at S&C in New York,
telephone 212-558-3448, e-mail: [email protected].
SUMMARY
On November 22, 2000, the Commodity Futures Trading
Commission ("CTFC")approved four releases setting out final rules for
regulatory reform (the "Final Rules"). The Final Rules largely follow
the proposed rules issued by the Commission on June 8, 2000.*
The Final Rules are to be effective 60 days after their publication in
the Federal Register.
----------------------------------
This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.
- CMS10713.pdf | {
"pile_set_name": "Enron Emails"
} |
Steve,
Assuming that the system btu reported annually is representive of the Btu of
the gas being purchased, the procedure that you have set forth will work.
The question is how is the system btu determined? Is it a total recap of the
measured mcfs including both purchase and transport?
Steve -HPL- Schneider
05/10/99 04:28 PM
To: Barbara N Gray/HOU/ECT@ECT, Dan J Hyvl/HOU/ECT@ECT, Tom
Shelton/HOU/ECT@ECT
cc:
Subject: Entex WACOG procedures
Attached is my procedural draft to accounting on how to calculate MCF WACOG.
Let me know your comments by the close of business on May 12th. | {
"pile_set_name": "Enron Emails"
} |
Fly to New York late. | {
"pile_set_name": "Enron Emails"
} |
FROM: ORGANIZATION OF AFRICAN HEALTH AND ECONOMIC
DEVELOPMENT
(OAHED)Under Auspice of UNIPH Foundation:
Reg N0:85/2000
c/o N0:9 Long Street
Banjul The Gambia; Telefax:220-390969
SUBJECT; RE:INTRODUCTION OF (OAHED)AND REQUEST FOR
FINANCIAL/TECHNICAL ASSISTANCE FOR EFFECTIVE TAKE-OFF
OF ESTABLISHING A LIAISON OFFICE IN THE GAMBIA.
ATTN:KENNETH
INTRODUCTION
*Organization of African Health and Economic
Development (OAHED), was created with a vision to
coordinates efforts to combat diseases and promote
physical and mental health. Contribute significantly
to eradicate communicable diseases and promoting
improved sanitation and health condition in Africa and
promote economic development.
*OAHED based on a common vision on economic
stabilization strategies and shared conviction , that
(OAHED) have a pressing duty to eradicate poverty
and diseases and to place Africa countries both
individually and collectively on the path of
sustainable growth development at the same time
participate actively in the world economy.
*The programmme of (OAHED) is anchored on the
determination of Africans to extricate themselves and
the continent from the malaise of underdevelopment and
exclusion in the world globalization.
*Poverty and backwardness of African stand in stark
contrast to the prosperity of the developed world.The
continued imagination of Africa from the globalisaton
process and the social exclusion of the vast majority
of its people constitute a serious threat to global
stability.
*In Africa, 365 million peoples or half of the
population live on less than $1.00 per day.The
mortality rate of children under 5years of age is 140
per 1000 and life expectancy at birth is only 54
years. Only 41 percent of the population have access
to safe water, medical care, education etc. The high
rate of illiteracy for people over 15 is 54 percent.
*OAHED calls for the reversal of this abnormal
situation by changing the relationship that underpins
it.African are appealing neither for the further
entrenchment of dependency through aid, nor for
margical concession.
*We are convinced that an historical opportunity
present itself to end the scourge of underdevelopment
that afflicts Africa. The resources, including
capital, technology and human skills that are required
to launch a global war on poverty and underdevelopment
exist in abundance.What is required to mobilize these
resource and use them properly, is bold and
imaginative leadership that is genuinely committed to
a sustained effort of human upliftment and poverty
eradication as well as a new global partnership based
on shared responsibility and mutual interest.
*In the circumstance, Organization of African Health
and Economic Development(OAHED) hereby declare that we
will no longer allow ourselves/African countries to be
conditioned by circumstances. We determine our own
destiny and call on the rest of the world to help and
complement our efforts. There are already signs of
progress and hopes. Democratic regimes that are
committed to the protection of human rights, peoples
centered development and market oriented economies are
on the increase. African people have begun to
demonstrate their refusal to accept poor economic and
political leadership.These development are, however
uneven and inadequate and head to be further
expedited.
OAHED is about consolidating and accelerating these
gains. It is a call for a new relationship of
partnership between African and the international
community, especially the highly industrialised
countries, to overcome the development chasm that has
of course widened over centuries of unequal relations.
*Our perfect knowledge in respect of the high level of
your commitment and goodness in the vineyard of
humanity impressed and impelled us to seek for your
kind assistance to establish the (OAHED) liaison
office in the Gambia.
The materials and funds needed for the effective
take-off are as follow:
1.Cost of renting /furnishing
office??????????.USD$38,000.00
2.Logistics, ie, vehicles???????????????USD$325,000.00
3.Staff emolument, mobility and communication
etc????USD$57,000.00
4.Contingency (5%)
Grand Total ???????????????????USD$420,000.00
In the light of this, we are now on board in a
situation not to be described caused by financial
difficulty. We have no facilities neither have we any
money to purchase those materials that are absolutely
necessary in this issue.Your goodness to humanity has
ever been such as leaves not the smallest doubt you
will not suffer us to starve in the situation you
have been pleased to place us, and which is such as
will ever tend to make us the most grateful/happy and
to ensure success as well as accomplish the set-up
goals.You will be induced to take this issue into
consideration an urgent intervention in this
impediment, and by a little pecuniary aid, please
save us from this impasse.It will be an act worthy of
your self, and that imprint upon our heart which will
never be erased.
*OAHED will welcome any assistance you render to
enable us put in place the relevant infrastructures
that would enhance the effective and the presence of
Organization of African Health and Economic
Development in the Gambia. Any assistance given should
be considered a worthwhile service to God and Humanity
.If you require any further information or
clarification in any point, please do not hesitate to
ask.
Looking Forward to The Pleasure of your Compliance.
Yours Faithfully
Rev. Emmanuel . E. Awuruh
CEO/PRESIDENT
ORGANIZATION OF AFRICAN HEALTH AND ECONOMIC
DEVELOPMENT(OAHED)
THE GAMBIA, WEST AFRICA.
__________________________________________________
Do You Yahoo!?
Buy the perfect holiday gifts at Yahoo! Shopping.
http://shopping.yahoo.com | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Judy Townsend/HOU/ECT on 02/08/2001 10:48
AM ---------------------------
Enron North America Corp.
From: Rebecca W Cantrell 02/05/2001 03:13 PM
To: Brenda H Fletcher/HOU/ECT@ECT, Colleen Sullivan/HOU/ECT@ECT, Donna
Greif/HOU/ECT@ECT, Frank W Vickers/NA/Enron@Enron, John
Hodge/Corp/Enron@ENRON, Judy Townsend/HOU/ECT@ECT, Paul Tate/HOU/EES@EES,
Robert Superty/HOU/ECT@ECT, Ruth Concannon/HOU/ECT@ECT, Suzanne
Calcagno/NA/Enron@Enron, Victor Lamadrid/HOU/ECT@ECT, Susan W
Pereira/HOU/ECT@ECT, Tricia Spence/HOU/ECT@ECT
cc: Melinda Pharms/HOU/ECT@ECT, James D Steffes/NA/Enron@Enron
Subject: Any Petal Gas Storage Issues?
As reported previously in the trade press, Petal Gas Storage has decided to
build its own pipeline to connect its storage facility in Forrest Co., MS to
interconnections with Southern Natural, Destin, and Transco in Clarke and
Jasper Cos., MS. We have received FERC's notice of the application (Docket
No. CP01-69), and will be filing an intervention before the February 20
deadline. Southern Company Services has contracted for the full 700,000
Mcf/day of capacity for a term of 20 years. The project calls for about 59
miles of 36-inch pipeline and a 9,000 HP compressor station at a cost of
about $94,343,700.
As part of its application, Petal also submitted pro forma tariff provisions
and rates for firm and interruptible transportation services and asked for
authority to charge negotiated rates. Petal also requested approval of
certain deviations from the pro forma transportation agreement for the
contract with Southern, apparently to allow Southern to act as agent for its
affiliated operating electric utilities to apportion capacity among them.
Please advise if you have any issues with Petal that should be made a part of
our intervention. The certificate application is 635 pages, not including
another 778 pages for the environmental reports, so I'm not going to request
a copy unless someone indicates a desire to review it. | {
"pile_set_name": "Enron Emails"
} |
Ashley,
This is one resume I got today. I think that it makes sense to invite him
for an interview directly with my group. He does not qualify as an analyst
candidate.
What do you think?
Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/24/2000
04:14 PM ---------------------------
Rajnish Kamat <[email protected]> on 10/23/2000 07:55:31 PM
To: [email protected]
cc:
Subject: UC-Berkeley Graduate Student
Dr. Vincent Kaminski
Managing Director and Head of Research
Enron Corp.
Dear Dr. Kaminski,
It was a pleasure talking with you and attending your talk today.
I am a graduate student in Industrial Engg. and Operations
Research working with Prof. Shmuel Oren
on topics in financial instrument pricing and design of
contracts in deregulated electricity markets. I am also
doing research in auction models and computable equilibrium
models with applications in electricity market design.
I am planning to graduate with a Ph.D. in May 2001 and would
appreciate hearing about any opportunities in your group at Enron.
I am attaching at copy of my resume (file: cvrkamat.doc) for your perusal.
Thanking you,
Sincerely,
Rajnish Kamat
Graduate Student
IEOR, UC-Berkeley
4135, Etcheverry Hall
Dept. of Industrial Engineering and Operations Research
University of California at Berkeley
Berkeley, CA, 94710
- CVRKAMAT.DOC | {
"pile_set_name": "Enron Emails"
} |
Start Date: 1/30/02; HourAhead hour: 18; No ancillary schedules awarded. No variances detected.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final Schedules\2002013018.txt | {
"pile_set_name": "Enron Emails"
} |
When you guys give me a new computer, can I get a (smaller) laptop with some
kind of docking station??? I don't need a desktop if I get a good laptop..
I'd suggest we keep the IBM laptop as the department's roving laptop if it is
upgradable to Windows 2000. Thanks. DF
From: Tyler Theobald/ENRON@enronXgate on 12/18/2000 04:48 PM
To: Robert Heimerman/ET&S/Enron@ENRON, Kris Douglas/ET&S/Enron@ENRON, Lynn
Schomerus/ET&S/Enron@ENRON, Jay Taylor/ET&S/Enron@ENRON, Ted
Ritchey/ET&S/Enron@ENRON, Kathy Jameson/ET&S/Enron@ENRON, Linda
Nordhues/ET&S/Enron@ENRON, George Quittner/ET&S/Enron@ENRON, Colleen
Metz/NPNG/Enron@Enron, Dari Dornan/ET&S/Enron@ENRON, David
Abraham/ET&S/Enron@ENRON, Jim Talcott/ET&S/Enron@ENRON, Maria
Pavlou/ET&S/Enron@ENRON, Ann Smith/ET&S/Enron@ENRON, Drew
Fossum/ET&S/Enron@ENRON, Martha Benner/ET&S/Enron@ENRON
cc: Jean Mcfarland/ENRON@enronxgate, Dan Bunch/ENRON@enronXgate
Subject: Windows 2000 & Outlook Training
You are about to delve into the new and better world of Windows 2000 next
week, but we don't want you to go there unprepared! To ensure you have all
the tools and knowledge necessary to drive your new Win2000 PC, we're
providing 3 hours of training on the basics of Windows 2000 and Outlook
(email).
Training will be in room 227 during the following times:
Wed 27th: 9-12
Thurs 28th: 1-4
Fri 29th: 9-12
There are only 7 seats in each class, so please reply and let me know what
session you plan on attending. If you have any questions, feel free to give
me a call. Thanks!
Tyler A Theobald
ETS Omaha IT
402-398-7247
fax:402-398-7209 | {
"pile_set_name": "Enron Emails"
} |
Please note that we are in a dispute with Enage Energy US, LP with respect to
power trading, and they are shut down for power trading only until such
dispute is resolved. I have already confirmed this with Stephanie. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Daren J Farmer/HOU/ECT on 10/19/2000
04:34 PM ---------------------------
Enron North America Corp.
From: Steve Venturatos 10/19/2000 02:45 PM
To: Jody Crook/Corp/Enron@ENRON, Michael Walters/HOU/ECT@ECT, David
Baumbach/HOU/ECT@ECT, Denver Plachy/NA/Enron@Enron, O'Neal D
Winfree/HOU/ECT@ECT, Patrick Ryder/NA/Enron@Enron, Eric Bass/HOU/ECT@ECT,
Daren J Farmer/HOU/ECT@ECT, Yvette G Connevey/Corp/Enron@ENRON
cc:
Subject: Gorons
Thought y'all might find this amusing.
---------------------- Forwarded by Steve Venturatos/HOU/ECT on 10/19/2000
02:45 PM ---------------------------
From: Kelly Lombardi @ ENRON 10/17/2000 06:34 PM
To: Cyndie Balfour-Flanagan/Corp/Enron@ENRON, Steve Venturatos/HOU/ECT@ECT
cc:
Subject: Gorons
Don't know who you're voting for, but here some things you might want to
consider-
What is a Goron
1. Gorons sincerely believe that Vice President Gore is a true
environmentalist, when he has an environmental disaster on his own farm:
a polluting zinc mine, from which he received $500,000 of income last
year.
2. Gorons likewise believe that the VP is antismoking and anti-tobacco
when he has operated a tobacco farm for decades and accepted government
subsidies.
3. Gorons truly believe that Gore is a Vietnam war hero, when in fact
he was placed by family influence in a "cushy" correspondent's job and
the only action he saw was that of his Brownie camera! (and his bong)
4. Gorons actually believe that Mr. Gore is justified in illegally
raising political funds from the Office of the VP, simply because the
Vanderbilt Law educated VP claims he was ignorant of the illegality.
5. Gorons further believe that it was OK for Al to accept large sums
of political money from China through Buddhist monks who had taken vows
of poverty, since he again claimed ignorance.
6. Gorons also believe that the man who claimed to "invent the
Internet" would be so computationally ignorant that he could lose weeks
of potentially incriminating e-mail!
7. Gorons, incredibly, believe Gore's claim that he and Tipper were
the models for the book and movie, "Love Story" even though the book's
author, Erich Segal, says not.
8. Gorons, amazingly, believe that Gore will be the consumer's
champion against high gasoline prices although Gore holds a million
dollars in Occidental Petroleum stock.
9. Gorons applaud Mr. Lieberman's open rejection of President
Clinton's immorality, but believe it was fine for Mr. Gore to remain
silent on the subject, while simultaneously declaring Mr. Clinton "one of
the greatest Presidents of our history."
10. Gorons believe that Al Gore is an effective leader, when they
won't bother to look at his record as a Tennessee Senator, a record so
ineffective that it has led to the election of Republicans as BOTH of
Tennessee's Senators!
11. Gorons hold the belief that Gore is a compassionate man who will
be the working man's friend, in spite of the eviction notice he served
to the poor family who complained about the conditions of the run down
slum house that he was renting to them.
CAUTIONARY NOTE: Medical researchers acknowledge that Gorons are
generally harmless, except when allowed into a voting booth. There,
unfortunately, overcome by their gullibility syndrome, they are apt to
actually vote for Gore! They should be carefully protected from their
ailment, since it may be harmful to their well-being, yours, mine and
that of the USA.
Therefore, PLEASE, heed the Surgeon General's warning, reach out to
aid the Gorons in overcoming the syndrome, and, PLEASE, pass this on to
your normal friends, who might also know Gorons who need immediate
treatment. | {
"pile_set_name": "Enron Emails"
} |
Rick,
We need to talk about the ability of ENA to continue its the current role as agent of Tenaska IV.
1) Since the end on November, ENA has not been able to complete gas trading transactions. We cannot find any counterparties to trade physical gas in Texas. This, of course, is due to the bankruptcy. As a result, we are not able to sale Tenaska's excess fuel. We did contact Brazos to ask if they would buy a portion of the gas at a Gas Daily price, but they do not want it (gas daily pricing has been below the firm contract price for a while). In December, we had to cut 10,000/day from the 7th through the 27th. For January, we haven't had to cut yet, but I am sure that the pipe will ask us to do this in the near future.
2) For November activity (which was settled in Dec), ENA owes Tenaska IV for the excess supply that we sold. However, due to the bankruptcy, we could not make payments out. ENA could not pay the suppliers or the pipeline. James Armstrong paid the counterparties directly. I think that he should continue to do this for Dec and Jan. We should not transfer any funds from Tenaska IV to ENA.
I don't know how Enron's ownership in the plant factors out in the bankruptcy preceding. But we need to determine how to go forward with the fuel management.
Please give me a call or e-mail me. We can get together sometime Thurs or Fri morning.
D | {
"pile_set_name": "Enron Emails"
} |
We have only the heights for now - maybe someday we'll see days 8 and 9.
Good luck,
Dave
http://www.sca.uqam.ca/models/
http://www.sca.uqam.ca/models/ecmwf_amer/cep00_9panel.gif | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 12/07/99
11:09 AM ---------------------------
"RIMS Master" <[email protected]> on 12/07/99 10:52:50 AM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: Re: Vector Pipeline
That's not true -
The Resource Report # 6 - Geological Resources for the
Vector P/L: CP98-133 ; filed 12/15/97 i
is on page 211 of that Report.
>>> <[email protected]> 12/06/99 07:58PM >>>
To whom it may concern:
I am trying to locate Resource Report 6 - Geological Resources for the
Vector Pipleline Environmental Report under docket # CP98-133;
sub-docket 000 filed on 12/15/97. In the description it says "Vector
Pipeline Cultural Resource Rept 4 through 7. However, the document only
has the first Resource Report which is number 4. Could you get back to
me on how to obtain this information.
Thanks
Shawn Anderson
403.974-6731
email: [email protected] | {
"pile_set_name": "Enron Emails"
} |
Hey Mark,
Sorry for not contacting you sooner regarding the Vegas trek. I had planned
on heading to Los Angeles for that weekend to visit a buddy. He is now
moving into a new house with his girlfriend this weekend and will be busy
with that.
Doesn't look like I will be heading to Vegas now either. I guess that I
will spend the weekend helping Dahl try to get that scow of his pieced back
together. What a project that has evolved into.
I plan on watching the game at my bro's bar. Not quite Cesar's Palace or
MGM, but it will have to do...
Have a great time! I hope you make it back in one piece. You will have to
give me some of the good details when you get back.
Good luck,
Patrick Mains
[email protected]
206.834.1781 | {
"pile_set_name": "Enron Emails"
} |
Vince and Datren:
I have scheduled a telephone interview with Ainsley this afternoon (Thursday)
at 2:00 pm. Her telephone no. is 281-852-9116.
You can use conference room EB1938.
Thanks!
---------------------- Forwarded by Shirley Crenshaw/HOU/ECT on 05/25/2000
07:45 AM ---------------------------
"Ainsley Gaddis" <[email protected]> on 05/24/2000 04:09:07 PM
To: <[email protected]>
cc:
Subject: Re: Possible Summer Internship with Enron
Hi Ms. Crenshaw!
The best time for the interview would be tomorrow, Thursday, around 2:00.
You can reach me at 281-852-9116. Talk to you then!
Sincerely,
Ainsley Gaddis | {
"pile_set_name": "Enron Emails"
} |
Jorge:
The Bank of Montreal ("BMO") master agreement provides for Market Quotation
in the event of early termination for non-commodity based products. BMO
prepared the letter to document our agreement to a different valuation
methodology for the terminated transaction. Please execute the letter.
P.S. Do know the difference between Market Quotation and Loss?
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
Jorge A Garcia@ENRON
02/09/2001 04:22 PM
To: Sara Shackleton/HOU/ECT@ECT
cc: Laurel Adams/HOU/ECT@ECT
Subject: Bank of Montreal- Early Termination Letter
Good Afternoon Sara,
I wanted to document our discussion this afternoon regarding the Early
Termination Letter for our Deal No. M368796 that settled on 2/2/01, with the
Bank of Montreal. You stated that the Master ISDA Agreement states that the
valuation method for early termination should be the process of obtaining
Market Quotations from Reference Market Makers. This Early Termination Letter
reflects that BMO determined the value through its ordinary valuation methods
instead. This was agreed upon by, the trader, Ellen Su. Therefore, you
provided your approval for us to execute this letter. Please respond with
your agreement for our files.
Many Thanks,
Jorge A. Garcia
Manager- Risk Management
Enron Global Markets LLC
713/853-5596 | {
"pile_set_name": "Enron Emails"
} |
Dear MARK E TAYLOR,
Thank you for your order. We are currently reviewing for completeness and
accuracy.
A separate email with your Dell Order number(s) will be sent to you after the
order is processed.
A recap of your order is provided at the end of this message for your
reference.
We encourage you to verify, print, and retain the information on this page
for your records.
Date Submitted: 12/18/00 7:54:18 PM
If at any time you have questions regarding your order please contact your
Dell Sales Representative:
Name: EPP Sales
Email: [email protected]
Phone: 866-220-3355
Again, thank you for your order. We appreciate you buying from Dell and using
your Dell Premier Pages Service.
Sincerely,
Dell Premier Pages Service
Shopping cart includes 2 unique item(s)
Total Price: $996.95
Item Detail#:1
Dell Dimension 4100 Series--Dimension® 4100 Series, Pentium® lll
Processor at 1 GHz
Memory: 256MB 133MHz SDRAM
Keyboard: QuietKey® Keyboard
Monitor: 17" (16.0 viewable, .26DP) M781
Monitor
Video Card: NEW 32MB DDR NVIDIA GeForce2 GTS
Hard Drive: 60GB Ultra ATA Hard Drive (7200RPM)
Floppy Drive: 3.5" Floppy Drive
Operating System: Microsoft® Windows® 2000
Professional
Mouse: MS IntelliMouse®
Network Card: 3Com® 3C905C TXM 10/100 Remote
Wake Up NIC
Modem: 3Com V.90/56K PCI Telephony Modem -
Sound Option
DVD-ROM or CD-ROM Drive: 8x/4x/32x CD-RW Drive
Sound Card: Soundblaster 64V PCI Sound Card
Speakers: harman/kardon Speakers
Bundled Software: Microsoft® Office 2000 Small
Business
Norton Antivirus® at no additional charge: Norton Antivirus®
2000
Hardware Support Services: 3Yrs Parts & Labor (Next Business
Day)
Software and Peripherals: Program Managment Services
Single Item Cost: $947.00
Quantity: 1
Sub-Total for Item: $947.00
___________________
Item Detail#:2
Software and Peripherals: Z12 COLOR JETPRINTER PRNT
Single Item Cost: $49.95
Quantity: 1
Sub-Total for Item: $49.95
___________________
** END OF ORDER ** | {
"pile_set_name": "Enron Emails"
} |
I'm sorry Tana but I don't understand what you are asking
From: Tana Jones@ECT on 30/10/2000 06:12 PM CDT
To: David Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: Australia ETA
David,
This ETA is for ClickPaper.
----- Forwarded by Tana Jones/HOU/ECT on 10/30/2000 05:11 PM -----
Lisa Lees
10/30/2000 05:06 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: Australia ETA
Last ETA from Travis' request is attached below.
---------------------- Forwarded by Lisa Lees/HOU/ECT on 10/30/2000 04:00 PM
---------------------------
Justin Timothy@ENRON_DEVELOPMENT
10/30/2000 04:42 PM
To: Lisa Lees@ECT
cc:
Subject: ETA
Lisa,
As requested.
Justin
---------------------- Forwarded by Justin Timothy/ENRON_DEVELOPMENT on
31/10/2000 09:42 AM ---------------------------
Alison Keogh
31/10/2000 09:39 AM
To: Justin Timothy/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc:
Subject: ETA
Alison Keogh
Legal Assistant
Enron Australia Pty Ltd
Ph: 612 9229 2316
Fx: 612 9229 2350 | {
"pile_set_name": "Enron Emails"
} |
I have a copy of the lease to give to you. How long are you going to be in your office?
Lorie Albrecht
Senior Admin. Asst.
Enron East Power Generation Development
Office: 713-853-1696
-----Original Message-----
From: Mann, Kay
Sent: Thursday, December 20, 2001 5:33 PM
To: Zisman, Stuart; Leigh, Lorie; Tapscott, Ron; Jacoby, Ben; Schneider, Chip
Subject: RE: Morris Letter
It would be helpful to see the lease and the letter before commenting.
Thanks,
Kay
-----Original Message-----
From: Zisman, Stuart
Sent: Thursday, December 20, 2001 5:25 PM
To: Leigh, Lorie; Tapscott, Ron; Jacoby, Ben; Mann, Kay; Schneider, Chip
Subject: RE: Morris Letter
Please provide me with any comments to the letter. I can work with Lorie to get it revised and send it out once we receive a consensus.
-----Original Message-----
From: Leigh, Lorie
Sent: Thursday, December 20, 2001 5:23 PM
To: Tapscott, Ron; Jacoby, Ben; Mann, Kay; Zisman, Stuart; Schneider, Chip
Subject: Morris Letter
<< File: morris_ltr_122001.pdf >>
Lorie Albrecht
Senior Admin. Asst.
Enron East Power Generation Development
Office: 713-853-1696 | {
"pile_set_name": "Enron Emails"
} |
I'm trying to find good in this announcement but not much is coming from it.
I did have a good interview at Duke Business School last week. I should be
hearing from NYU-Stern and Duke in the next couple of weeks. What is my next
option? Any suggestions regarding writing letters to anyone you know at Duke
or NYU?
Ben | {
"pile_set_name": "Enron Emails"
} |
> -----Original Message-----
>
>
>
> -----Original Message-----
>
> Subject: FW: Similarities
>
> <<40Plus.jpg>>
- 40Plus.jpg | {
"pile_set_name": "Enron Emails"
} |
I will call MacGregor and put the project on hold.
-----Original Message-----
From: Hayslett, Rod
Sent: Monday, November 19, 2001 4:58 PM
To: Peters, Jerry
Subject: Fw: RE: Project Armstrong Cases
Fyi
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
-----Original Message-----
From: Horton, Stanley <[email protected]>
To: Hayslett, Rod <[email protected]>
Sent: Mon Nov 19 13:25:17 2001
Subject: RE: Project Armstrong Cases
From a valuation standpoint I assume Case 1 would give us the highest multiple. The issue is is it doable? We have achieved $600 million last year. Also, before we go further with Project Armstrong I would like to get Whalley and Dynegy to agree that if the discussions are successful we would do the deal. Let's suspend these discussions for the time being.
Stan
-----Original Message-----
From: Hayslett, Rod
Sent: Monday, November 19, 2001 11:51 AM
To: Horton, Stanley
Subject: Fw: Project Armstrong Cases
Importance: High
What is your choice?
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
-----Original Message-----
From: Peters, Jerry <[email protected]>
To: Hayslett, Rod <[email protected]>
Sent: Mon Nov 19 11:35:00 2001
Subject: Project Armstrong Cases
Rod,
Attached are three cases for Project Armstrong. I know you're out of the office until Wednesday but I thought if you could respond by Blackberry or phone as to which case we should send to TCPL, I would get that to them before the holiday so they could work on it Thursday and Friday.
* Case 1 is an 8% distribution growth case (starting with the plan and increasing acquisition activity to deliver 8% growth). To achieve that our total capex for NBP goes up to an average of just over $400 million per year.
* Case 2 tracks with our budget case and involves about $200 million in capex per year and results in 2 years of 8% growth and then a flat distribution level for the remaining 3 years.
* Case 3 utilizes the budget case but eliminates all acquisitions (capex is about $30 - $40 million average per year for maintenance and asset development) and assumes NBPL recontracting occurs at 85% of max rates. The result is distributions increase to $3.30 in 2002 and stay at that level throughout the 5 year period.
Obviously Case 1 is the most aggressive in terms of valuation among the three. Please let me know if that is ok to send or do you have something else in mind. Also I could fax hard copies if you would like...
<<Valuation Cases11-18.zip>> | {
"pile_set_name": "Enron Emails"
} |
oui. I was able to change my plans......
Alexandra Saler@EES
12/18/2000 01:23 PM
To: Jeffrey A Shankman/HOU/ECT@ECT
cc:
Subject: Re:
are we going????
To: Alexandra Saler/HOU/EES@EES
cc:
Subject: Re:
How about the Lay's wednesday? | {
"pile_set_name": "Enron Emails"
} |
Through my environmental work, I was contacted by a German foundation that is
hosting several members of the German parliament on a U.S. visit. They will
be visiting San Francisco on April 26 and 27, and are interested in learming
more about the California energy situation.
Would it be possible to conduct a meeting/briefing for this delegation at our
San Francisco office? These are not energy experts, but legislators who are
interested in the U.S. policy process, so the briefing would not need to be
anything complex, and probably no more than 1 hour long. Please let me know
if you would be available and willing to host this group.
They are sending brief biographies of the German delegation, and more
specific time availability on the 26th/27th, and will pass it on to you when
I get it.
Thanks,
Jeff
Jeffrey Keeler
Director, Environmental Strategies
Enron
Washington DC office - (202) 466-9157
Cell Phone (203) 464-1541 | {
"pile_set_name": "Enron Emails"
} |
I do need to alter one slide and also I am keen to see the financial slide whenever it is done.
Hope you had a good week-end.
-----Original Message-----
From: Rieker, Paula
Sent: Friday, October 05, 2001 8:28 PM
To: Kitchen, Louise
Cc: West, Terry
Subject: RE: Board Presentation
Louise - Thanks. It looks very good. I made a few minor changes this evening to add "units of measure" to 1-2 slides ($ in millions). Also, will increase the size of fonts on the US map/structuring slides so the group will be sure to see them. Terry and Steve now have the "Master" and will shoot it back to you on Monday, probably around mid-morning so you will know of these minor changes, each intended to enhance visibility without changing any content. Terry will be in touch, or you can reach her at ext. 36910 if necessary. Again, thanks. 'Have a great weekend. Paula
Terry - Please be sure Wes sees the Financial Highlights chart from Butts. THX
-----Original Message-----
From: Kitchen, Louise
Sent: Fri 10/5/2001 6:16 PM
To: Lavorato, John; Whalley, Greg
Cc: Rieker, Paula
Subject: Board Presentation
We are awaiting the financial numbers slide from Bob Butts.
The rest should be there. <<board101301.ppt>> | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Ben Jacoby/HOU/ECT on 04/24/2001 02:54 PM
---------------------------
[email protected] on 04/24/2001 02:41:17 PM
To: [email protected]
cc: [email protected], [email protected], [email protected]
Subject: FW: Blue Dog Max, comments on draft CO No. 2, rev of 4/23/01
Ben
I have made some revisions, per the attachment.
Changes to article 2.6 were originally proposed on March 8th. There has
been no comment to these changes.
Additionally, changes/additions have been made to article 2.7.
> <<CO#2-R71 changes.doc>>
>
I have not received a signed copy of the Consent to Assignment to E-Next
Generation LLC. Please fax this to me.
Regards,
Jeff
Global Power Plant Systems
518-385-0663
518-381-1513 (fax)
- CO#2-R71 changes.doc | {
"pile_set_name": "Enron Emails"
} |
Dear SARA,
Beginning May 1st, ShareBuilder will introduce a new fee structure for our
basic services. Single recurring transactions will cost slightly more, while
other prices will drop. Many of you have asked us to cut our prices for
Real-Time Trades and I'm pleased to announce that we're doing just that. In
addition, we are cutting the fee for one-time (non real-time) ShareBuilder
transactions as well. And later in May, we will introduce a new ShareBuilder
subscription option, where for only $8 a month you can take advantage of
unlimited ShareBuilder purchases!
WHAT'S THE NEW PRICE STRUCTURE?
On May 1st, the standard recurring transaction fee will change from $2 to $3
(and from $1 to $2 for custodial accounts). We are also reducing several
fees directly. To simplify our structure, we are cutting the fee for
one-time (non real-time) ShareBuilder transactions from $5 to just $3. We
have also listened to you about Real-Time Trades, and have reduced the fee
from $19.95 to $15.95. Here is a summary of the changes:
* All you can Build - New! $8
* ShareBuilder transaction - from $2 to $3
(Individual, Joint or IRA)
* ShareBuilder transaction - from $1 to $2
(Custodial)
* One-Time ShareBuilder transaction - from $5 to $3
* Real-Time Trades - from $19.95 to $15.95
Not only are we offering you a less expensive way to diversify your
portfolio, we've also lowered our prices for those investors who purchase on
a one-time basis or trade Real-Time. All you can Build will be the least
expensive way to build a portfolio of stocks anywhere. While we want to
encourage diversification and recommend the subscription plan, paying per
transaction can still make sense for investors purchasing just one or two
stocks in their ShareBuilder Plan.
STAYING THE COURSE
The market has been incredibly tough for all of us during the past several
months, but we all know that we still have to invest money to get ahead in
the long run. While the effect on our portfolio values has been depressing,
cycles are normal, and the prudent way to smooth the effects is to keep
investing equal dollar amounts. Holding to a strategy of dollar-cost
averaging across a diverse group of stocks is exactly what investors should
do to minimize their market risk over time. In a market rebound, today's low
prices will look like bargains in comparison. We hope that giving you the
best tools possible to invest wisely will position you and your investments
to succeed. I believe the All you can Build feature will be a big help.
Sincerely,
Jeff Seely
President and CEO
ShareBuilder Securities Corporation
P.S. You are receiving this email because you have a ShareBuilder Account
setup with us. You may unsubscribe, update or change your e-mail preferences
by visiting http://www.sharebuilder.com/sharebuilder/account/index.asp. If
you have any questions, please don't hesitate to contact customer care at
mailto:[email protected]
Copyright 1999-2001 ShareBuilder Securities Corporation, a registered
broker-dealer and Member NASD/SIPC, is a subsidiary of Netstock Corporation.
ShareBuilder is a trademark of Netstock Corporation. Patent Pending.
This email was sent to: [email protected] | {
"pile_set_name": "Enron Emails"
} |
(1) We're keeping the Tuesday, 10 am (no need to send any emails)
(2) We're adding a Tuesday, 3 pm and we need a conference room. A message
about the 3 pm should be sent to everyone in my earlier message.
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected] | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 03/14/2000
12:59 PM ---------------------------
Enron In Action Week of 03.13.00
From: Enron In Action@ENRON on 03/14/2000 06:19 AM
Sent by: Enron Announcements@ENRON
To: All Enron Downtown
cc:
Subject: Enron In Action
IVOLUNTEERl Saturday, March 18 and Sunday, March 19 Houston Children's
Festival hosted at Tranquillity Park and Sam Houston Park. KRBE 104/Enron
Earth Day is also seeking volunteers. Email Deb Gebhardt to join the fun.
See the Community Relations web site for more details.
IINFORMATIONI Need information about what is available this summer for your
kids. Come to the Summer Activity/Camp Fair, Tuesday, March 14 @ the Enron
Plaza, 10:00 am - 2:00 p.m.
ISAVE THE DATEI Enron Company Picnic Saturday, May 7, 2000, 10:00 a.m. -
8:00 p.m. @ AstroWorld. Tickets will go on sale Monday, April 10 - Friday,
April 14 in the Enron Lobby. Tickets are $5 each for the first six tickets.
$20 for each additional ticket. | {
"pile_set_name": "Enron Emails"
} |
Tom,
Thanks for your message.
I shall be glad to attend the meeting (of course a lot may happen between
now and then and we may have many unexpected developments
in a company as dynamic as Enron).
I want to get back to you at some point with comments on your paper.
Vince
Tom Arnold <[email protected]> on 07/03/2000 05:19:48 PM
To: [email protected]
cc:
Subject: EFA meetings
Hello Vince,
A colleague and I are hoping to have a panel discussion on energy
securities for the coming Eastern Finance Association Meetings (April
25-28, 2001 in Charleston, South Carolina). I was wondering if you or
someone you know at Enron would be interested in participating in such a
meeting. I realize that you may not be able to plan this far in advance
and would certainly not be offended in the least if you cannot participate.
We already appreciate you taking time out of your schedule this past
semester to visit LSU.
I hope all is going well and wish you continued success in your ventures,
Tom Arnold | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Ami Chokshi/Corp/Enron on 01/31/2000
03:06 PM ---------------------------
From: Linda S Bryan @ ECT 01/20/2000 02:19 PM
To: Jeffrey T Hodge/HOU/ECT@ECT, Mary Solmonson/HOU/ECT@ECT, Tricia
Bowen/HOU/ECT@ECT, Ami Chokshi/Corp/Enron@ENRON, Stephanie Sever/HOU/ECT@ECT,
Dana Daigle/Corp/Enron@ENRON, Marlene Hilliard/HOU/ECT@ect, Edward
Terry/HOU/ECT@ECT, Faye Ellis/HOU/ECT@ECT, Sylvia A Campos/HOU/ECT@ECT,
Connie Sutton/HOU/ECT@ECT, Mary G Gosnell/HOU/ECT@ECT, Scott
Mills/HOU/ECT@ECT, Victor Lamadrid/HOU/ECT@ECT, Katherine L
Kelly/HOU/ECT@ECT, Irena D Hogan/HOU/ECT@ECT, Mark Friedman/HOU/ECT@ECT
cc:
Subject: CES Meeting Minutes - January 18, 2000
Attached are the minutes for the CES meeting that was held on Monday, January
18, 2000. | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Sunday, April 15, 2001 4:03 PM
To: [email protected]; [email protected]; [email protected];
[email protected]; [email protected]; [email protected];
[email protected]; [email protected]; [email protected]; [email protected]
Subject: Forward:
---------------------- Forwarded by Nancy Crawford/NC/FD/USA/Kelly on
04/15/2001
05:06 PM ---------------------------
The Crawfords <[email protected]> on 04/13/2001 10:05:12 PM
Please respond to [email protected]
To: Suzanne <[email protected]>
cc: Nancy Crawford/NC/FD/USA/Kelly@Kelly, Johnny Lee Payne
<[email protected]>
Subject: Forward:
I heard on the radio a couple of days ago they are predicting gas to be
$3.00/gal this summer!!! This just might work!
PLEASE NOTE:
I read in the paper yesterday that EXXON posted profits of 12 MILLION
dollars this past Quarter!!!!. They STOLE that money from us poor suckers
just
as
if they had held us up at gunpoint and ROBBED us!!!!!
Then I get this email -- it makes sense to me: This makes more sense than
the "don't buy gas on a certain day" routine that was going around.
Gasoline Prices! Whomever started this has a good point. By now you're
probably thinking gasoline priced at about $1.49 is cheap. Me too! As it
is now $1.58 for regular unleaded. Now that the oil companies and the OPEC
nations have conditioned us to think that the cost of a gallon of gas is
CHEAP at less than $1.50, we need to try an aggressive response. With the
price of gasoline going up more each day, we consumers need to take
action.
The only way we are going to see the price of gas come down is if we don't
buy it. But, that's not really a practical option since we all have come to
rely on our cars.
But we CAN have an impact on gas prices if we all act together.
HERE'S THE IDEA:
For the rest of this year, don't purchase gasoline from the two biggest
companies (which now are one), EXXON and MOBIL. If they are not selling,
they should be inclined to reduce their prices-and if they reduce their
prices the other companies will too. But to have an impact, we need to
reach literally millions of users. But it's do-able! I am sending this
note to
30
people. If each of you send it to at least 10 more ...and those 10 send it
to at least 10 more, and so on by the time the message reaches the sixth
iteration we will have reached over one million consumers. Acting together
we can make a difference. If this makes sense to you, please pass this
message
on, or one you compose, to at least 10 more E-mail addresses.
PLEASE HOLD OUT UNTIL THEY LOWER THEIR PRICES TO $1.28 -$1.29 AND KEEP
THEM DOWN. THIS CAN REALLY WORK.
Katherine Doyle
WASHTENAW COUNTY ROAD COMMISSIONS Department
555 North Zeeb
Ann Arbor, MI 48106
734.327.6679 | {
"pile_set_name": "Enron Emails"
} |
N Sanders Saul for Attorney General | {
"pile_set_name": "Enron Emails"
} |
Dick:
Please find attached the risk book update for the EAS and NEPCO active project portfolios for week ending February 23, 2001.
The updated EAS and NEPCO project risk book data has been received, but it is currently being reviewed before issue. The unspent reserves, however, have been updated with current data.
Please call should you have any questions.
Mark | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Heard, Marie
Sent: Friday, November 16, 2001 1:00 PM
To: Ralston, Andrew
Subject: FW: Allegheny
Andrew:
Attached are the forms.
Marie
Marie Heard
Senior Legal Specialist
Enron North America Corp.
Phone: (713) 853-3907
Fax: (713) 646-3490
[email protected]
-----Original Message-----
From: St. Clair, Carol
Sent: Friday, November 16, 2001 11:17 AM
To: Cook, Mary; Heard, Marie
Subject: FW: Allegheny
Carol St. Clair
EB 4539
713-853-3989 (phone)
713-646-8537 (fax)
281-382-1943 (cell phone)
8774545506 (pager)
281-890-8862 (home fax)
[email protected]
-----Original Message-----
From: Ralston, Andrew
Sent: Friday, November 16, 2001 10:51 AM
To: Bailey, Susan
Cc: St. Clair, Carol
Subject: Allegheny
Susan
I have been asked my business group to send a master netting agreement and collateral annex to Allegheny. Can you send me a form of those two agreements.
thanks
Andrew | {
"pile_set_name": "Enron Emails"
} |
Eric,
I recieved a call from a guy with Pacific Interlink (?). He is looking to
market LNG in Europe. Since I have very little knowledge in this area, I
didn't get much specific information. But, I told him I would find someone
for him to talk with. His name is Sam Kovacevich. Phone: 847-971-3369. I
would appreciate it if you would give Sam a call. If you aren't the person
he needs to talk to, please let me know. Thanks.
Daren Farmer
Texas Desk - Gas | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Darron C Giron/HOU/ECT on 08/28/2000
08:16 AM ---------------------------
Dawn C Kenne
08/25/2000 02:38 PM
To: [email protected], Richard Lauer/HOU/ECT@ECT, Angela
Henn/HOU/ECT@ECT, Mechelle Stevens/HOU/ECT@ECT, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Darron C Giron/HOU/ECT@ECT,
[email protected]
cc:
Subject: Re: bunko
Hey bunko gang...Unfortunately, Gary and I will be out of town that weekend.
We are going on Gary's company's trip so we need to reschedule. What do you
guys think about September 30th? Let me know who all can make it or suggest
other dates that are more agreeable to your schedule!
Thanks,
Dawn
To: [email protected], Richard Lauer/HOU/ECT@ECT, Angela
Henn/HOU/ECT@ECT, Mechelle Stevens/HOU/ECT@ECT, Jennifer deBoisblanc
Denny/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Dawn C Kenne/HOU/ECT@ECT,
Darron C Giron/HOU/ECT@ECT, [email protected]
cc:
Subject: bunko
Hey - we have not done this in a long, long time. Dawn and Gary want to host
a party at their house on Sept. 16th.
Who is interested? let us know asap so that we can find subs if needed!
thanks
Sheri | {
"pile_set_name": "Enron Emails"
} |
you are long at np, because i did not put a imbalance deal in. I figured you
were going to sell that 10 mws of np length off to a sc on a realtime basis.
So, please take care of this | {
"pile_set_name": "Enron Emails"
} |
Hello Jeff,
Kevin McGowan has cancelled as second day interviewer at Wharton. I was wondering if you had anyone that could spare us time or anyone in mind I could contact?
Thanks for the help.
Paul L. | {
"pile_set_name": "Enron Emails"
} |
Does this name sound familiar?
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 01/06/2000
05:27 PM ---------------------------
"Andrew L. Pickens" <[email protected]> on 01/06/2000 04:57:00 PM
To: "'[email protected]'" <[email protected]>, "'[email protected]'"
<[email protected]>, Richard B Sanders/HOU/ECT@ECT, "'[email protected]'"
<[email protected]>, "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>
cc: "Barrett H. Reasoner" <[email protected]>,
"'[email protected]'" <[email protected]>
Subject: Boies potential DQ
Mike Williams at CIG called today to advise that he received an announcement
from Donald L. Flexner, formerly of Crowell & Moring LLP (DC), that (1) Mr.
Flexner has now joined David Boies' firm, and (2) Boies' firm has changed
its name to Boies, Schiller & Flexner LLP.
Mr. Flexner previously rendered anti-trust/other legal services to CIG, and
Mike is exploring whether Flexner's joining Boies' firm creates any basis
for disqualifying Boies, Schiller & Flexner in Quinque. To this end, Mike
asked that I contact Enron's lawyers to learn whether Flexner has also
represented any Enron entities in the past.
If you know of any representation of Enron entities by Mr. Flexner, please
let either Barrett Reasoner or me know.
Thanks,
Andy Pickens
713/650-8805 | {
"pile_set_name": "Enron Emails"
} |
Market Participants:
As you know, our next CMR stakeholder meeting is tomorrow.
We will also hold the following CMR Stakeholder meetings (details to
follow):
August 4: FTRs, DA and HA Congestion Management,
Recallable Transmission
August 8: Real Time Market, New Generator
Interconnection Policy, Long-Term Grid Planning.
Please remember, also, that preliminary comments on the CMR
Recommendation are due to [email protected] <mailto:[email protected]> by
5:00 p.m. PDT on Friday, July 28. If possible, we would appreciate
receiving your comments before the July 28 deadline.
Thank you for your continuing interest and participation in
this project.
Byron Woertz
Director, Client Relations | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by James Derrick/Corp/Enron on 11/21/2000
05:03 PM ---------------------------
From: Cindy Derecskey on 11/21/2000 02:39 PM
To: Mark Koenig/Corp/Enron@ENRON, Aleck Dadson/TOR/ECT@ECT, Robert
Hemstock/CAL/ECT@ECT, Richard B Sanders/HOU/ECT@ECT, Eric
Thode/Corp/Enron@ENRON, David W Delainey/HOU/ECT@ECT, Richard
Shapiro/NA/Enron@Enron, John J Lavorato/Corp/Enron@Enron, Mark
Frevert/NA/Enron@Enron, Greg Whalley/HOU/ECT@ECT, Jeff
Skilling/Corp/Enron@ENRON, Kenneth Lay/Corp/Enron@ENRON, James
Derrick/Corp/Enron@ENRON, Steven J Kean/NA/Enron@Enron
cc:
Subject: Enron, Powerex Investigated for Alberta Price Fixing
----- Forwarded by Cindy Derecskey/Corp/Enron on 11/21/2000 02:35 PM -----
Ann M Schmidt
11/21/2000 02:34 PM
To: Cindy Derecskey/Corp/Enron@Enron
cc:
Subject:
=DJ Enron, Powerex Investigated For Alberta Price Fixing
11/21/0 15:31 (New York)
By Cheryl Devoe Kim
Of DOW JONES NEWSWIRES
TORONTO (Dow Jones)--Canada's Competition Bureau raided the offices of Enron
Canada Corp. in Calgary and Powerex Corp. in Vancouver earlier this year as
part of an investigation into suspected electricity price fixing by the two
companies, according to documents obtained by Dow Jones Newswires.
Bureau investigator David Bloom alleges in an application for a warrant he
used to gain access to the offices that in the summer of 1999, Powerex and
Enron were coordinating bid restatements and inflating the price each received
for electricity as they traded on the Power Pool of Alberta.
The investigation hasn't yet produced any charges against either of the
companies, according to Enron. The Competition Bureau declined to comment on
the status of the case.
Both Enron Corp. (ENE), which owns Enron Canada, and Powerex, a unit of
provincially owned British Columbia Hydro & Power Authority (X.BCH), deny
breaking any rules or laws.
From Powerex's point of view, Albertans are looking for someone to blame for
high power prices, which have become a political issue in the province.
"They just find it easy to blame us for what are pretty fundamental market
design flaws," Powerex president and chief executive Ken Peterson told Dow
Jones Newswires in an interview.
Deregulation Spurs Search For Someone To Blame
The search for someone to blame has repeated itself across every
deregulating
market Enron has participated in, Enron Corp. spokesman Mark Palmer said.
"Almost every time that either power markets or natural gas markets or even
oil markets or gasoline markets have experienced any kind of price volatility,
there have been investigations done," Palmer said.
Enron has been scrutinized before as part of wider energy markets
investigations, he said, but never found to be breaking the rules. This is the
first such investigation into Powerex's actions, Peterson said.
The Competition Bureau, based in Ottawa, won't say whether the investigaion
is ongoing, citing disclosure rules under the Competition Act.
The companies themselves said they're not sure of the investigation's
status.
Their seized files were returned several months ago, but Powerex hasn't heard
from the Bureau since then. Enron did receive a call from the Bureau last week
with a question, according to Enron Corp. spokesman Eric Thode.
The investigation began when the Power Pool of Alberta's system controllers
noticed the clearing price for a megawatt of electricity was topping C$100
with
unusual frequency.
The Pool's price is set by participants submitting bids to buy or sell power
for the following day. Until Oct. 19, 1999, a bidder could restate the amount
of power in a bid or offer an unlimited number of times, until 20 minutes
before the hour of transmission. The price paid for every megawatt of power
needed by the Pool in a given hour is set by the most expensive unit needed to
meet demand.
Alleged Bid Rigging Methods Detailed
According to the Competition Bureau search warrant application, Powerex and
Enron were rigging their bids in the following manner:
Powerex would lower the volume of an existing offer. As little as two
minutes
later, Enron would increase its offer for the same period by the same volume,
but at a "significantly higher price," according to the warrant application.
Sometimes, Enron would increase its offer even before Powerex had dropped its
offer.
Power Pool market analyst Owen Craig, who once worked in Enron Canada's gas
trading group, found that "as a result of restatements, involving mostly
Powerex and Enron," the Pool price was raised once to C$200/MWh, four times to
between C$354.29 and C$499.93, three times to between C$500 and C$541.63, and
10 times to between C$801.02 and C$998.
Based on the restatement patterns, Craig, and then the Bureau's Bloom,
concluded that no new energy was being offered to the Pool. They believed the
power was just being transferred from Powerex to Enron and then offered at the
higher price, according to the warrant application. By cutting the volume
offered by Powerex, the more expensive power offered by Enron would likely be
needed, and every participant would get the higher price.
Powerex's Peterson doesn't take issue with the trade history as detailed by
the Bureau, but denies that the company's traders were doing anything wrong or
that the two companies had some sort of arrangement.
"And we're adamant about that," Peterson said. "There was no deal with
Enron.
There was no expectation about what their behavior would lead to in terms of a
change in prices or anything like that."
Powerex traders were merely locking in their price, cutting the company's
risk, which Enron agreed to take on by buying the power at a fixed price,
Peterson said.
"Whenever Enron's offer of high-priced energy was declined, within moments
of
Enron being advised by the Pool that their energy would not be required,
Powerex would restate an identical volume of energy back into its lower priced
unit," according to the warrant application.
Peterson's response: "We're operating in a very tight market there and we
felt an obligation to make sure the power got delivered into Alberta."
Enron also denies it broke any Power Pool rules or Canadian laws.
"It boils down to we were offered power at a price lower than we thought we
could sell it at," Enron's Thode said. "And that's what Enron and every other
company does that's in the business of trading."
The May 25 search warrant covers the companies' actions between June 1,
1999,
and Oct. 19, 1999. On Oct. 20, 1999, the Pool changed its restatement rules,
essentially closing the loophole, though it did so without ever making public
its investigation into Powerex and Enron.
Power Pool spokesman Wayne St. Amour declined to discuss details of the
investigation.
"Market surveillance is in place to, among other things, protect the
interests and activities of market participants," he said.
Those convicted under Canadian law for bid-rigging can be fined an amount at
the court's discretion and/or jailed up to five years. A conviction wouldn't
likely affect Powerex's ability to trade in the U.S., Peterson said. In Canada
"there would have to have some follow-on action by the Alberta parties to
inhibit that. And so far, they still like to get our power."
Companies Concerned About Reputations
The bigger problem, Peterson said, is what the case will do to the Powerex
reputation.
"Essentially both companies are concerned about it because we have a lot at
stake from a reputational point of view," Peterson said. "Both companies, I
believe, conduct themselves in the highest possible standard. But these are
difficult times in the business with prices going crazy in Alberta and
California and people looking for somebody to blame. There's always a
possibility of collateral damage when politics gets involved."
Powerex parent company BC Hydro is also suspected by the Power Pool of
Alberta of unfairly providing access to transmission through British Columbia,
linking Washington with Alberta, as detailed in an Oct. 13 Power Pool market
surveillance report. Again, no charges have been laid.
Company Web sites: http://www.powerex.com, http://www.enron.com
-By Cheryl Kim, Dow Jones Newswires; 416-306-2017; [email protected]
(END) DOW JONES NEWS 11-21-00
03:31 PM- - 03 31 PM EST 11-21-00 | {
"pile_set_name": "Enron Emails"
} |
guess who sent me this!
it actually is pretty interesting to see how other companies value their
analysts, though.
---------------------- Forwarded by Eric Bass/HOU/ECT on 06/13/2000 01:49 PM
---------------------------
Brian Hoskins
06/13/2000 01:43 PM
To: Eric Bass/HOU/ECT@ECT, Hector Campos/HOU/ECT@ECT
cc:
Subject: More I-bank info
[email protected]
06/13/00 12:28 PM
To: [email protected]
cc: (bcc: Priya Jaisinghani/Enron Communications)
Subject:
Best Regards-
Jason E Glass
Deutsche Banc Alex. Brown
Houston Energy Group
909 Fannin Suite 3000
Houston, TX 77010
(713) 759-6786
(713) 759-6736 Fax
<<Fast Track Promotion__.doc>> | {
"pile_set_name": "Enron Emails"
} |
FYI....
---------------------- Forwarded by Carol Moffett/HOU/EES on 05/09/2001 08:48
AM ---------------------------
Enron Energy Services
From: Marty Sunde 05/09/2001 08:16 AM
Phone No: 713 853-7797 Phone
888-953-9478 SkyTel Pager
EB 889
To: Rosalee Fleming/Corp/Enron@ENRON
cc: Tom Riley/Western Region/The Bentley Company@Exchange, Vicki
Sharp/HOU/EES@EES, Lamar Frazier/HOU/EES@EES, David W Delainey/HOU/EES@EES
(bcc: Carol Moffett/HOU/EES)
Subject: Request for Ken to contact Chancellor Reed, California State
University System
Rosalee,
I have left Ken a voicemail request but thought I would follow up with a note
to you that might help clarify the request.
As Ken knows, Enron Energy Services recently won a STAY by the 9th Circuit
Court of an order by a lower court to require us to provide electricity
service to the UC/CSU systems directly versus via using PG&E and SCE
service. The formal court hearing of the appeal is still scheduled for 60 to
90 days from now.
We would like Ken to phone Charlie Reed, Chancellor of CSU, and solicit
Charlie's support for Enron, CSU, and the UC system to get back together to
attempt to work out a commercial resolution to these issues.
We believe that sponsorship and support coming from the most senior
executives' offices will help bring the parties together.
Additionally, if CSU and UC are interested in working out a settlement, we
would like to solicit their joint request for a delay in the court calendar.
This would allow both teams to focus on a commercial resolution versus
splitting their focus between a settlement and preparing briefs for the
appeal appearance. We would like to see a delay request of one month, as
long as the setttlement discussions progress.
A desirable way to kick off settlement discussions would be to ask Ken to
have lunch with the Head of UC , Charlie Reed of CSU, and perhaps one
business lead (in this case, this could be me). I am not sure that Ken's
schedule could accomadate that, but I thought I would ask. If timing is bad
for a meeting like this, we can find a different alternative.
I will follow up with a phone call to you. Hope this helps. | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Stephen D Burns/Corp/Enron on 06/01/2000
10:39 PM ---------------------------
Robert McGrory@ENRON_DEVELOPMENT
05/31/2000 11:07 PM
To: Stephen D Burns/Corp/Enron@ENRON
cc: Nicholas O'Day/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Paul
Quilkey/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
Subject: Re: ITC
Dear Steve,
I attach a draft paper for the purposes of Steve's presention and subsequent
submission to the ITC which address reforms in the Australian electricity
sector.
As you are probably aware, Enron Australia does not operate in the New
Zealand market and so the above report does not cover NZ as we are not really
in a position to provide useful comment on that market. However, I was able
to locate a NZ Ministerial inquiry into the electricity industry which, if
Steve chooses to comment on NZ, may be of use to you. A copy of that report
is attached.
Regards,
Rob. | {
"pile_set_name": "Enron Emails"
} |
BUSINESS HIGHLIGHTS
Weather Risk Management
Next week, Jeff Shankman and Mark Tawney will be attending the Weather Risk
Management Association (WRMA) conference in Tokyo. There has been
a lot of interest in Japanese weather derivatives to-date. Even though Japan
is geographically a relatively small country, due to elevation differences,
there are several different climates and within each of those areas, there,s
a significant amount of volatility in day-to-day and season-to-season
weather. By leveraging EnronOnline and our global portfolio approach, Enron
Global Markets will be the dominant weather market player in Japan, as we are
in
the US, Australia and Europe.
COMING SOON - New EWS Training Web Site
Ernie is retiring and there is a new tool to help you manage your
professional development. It,s called InvestInMe.enron.com and it is the key
to your future. In a
user-friendly format, you will find the current listing of internal programs,
access to a database of external programs, and registration for on-line
courses.
Watch for details in your email. Launch date is Tuesday, March 6, 2001.
IN THE NEWS
Analyst Robert C. Ollech, vice president and portfolio manager at Ziegler
Investment Services Group, says Wall Street will like Enron even more as
demand for natural gas increases, volume continues to grow on its online
marketplace and as the company's broadband business starts making money.
Enron, which has beat analysts' estimates in five of the past seven quarters,
is not a cheap stock. But Ollech says its relatively young management team is
focused on maximizing systems and business lines it has spent five years
developing. Plus, the company is selling such assets as a power plant in
Oregon, moves Ollech says could boost its return on equity to 18% or higher
from the present 12%. "This is an innovative story that's finally getting
out," Ollech says. 02/25/2001 The Milwaukee Journal Sentinel.
WELCOME
New Hires
ENA ) Angelic Davis, Dipak Agarwalla, Sean Maki, Juliann Kemp, Bridget Fraser
EIM ) Louis Amo
Transfers
EGM ) Patrick Conner
EIM ) Douglas Seaworth
ENA ) Eric Feitler, Santiago Garcia, Philip Polsky, Lauren Schlesinger
NUGGETS & NOTES
&If you,re not trading EOL, you,re not trading.8 ) John L. Wilson, Vice
President/EGM
&Training(.all the cool kids are doing it!8 ) Tom Wilbeck/ENA
Congratulations to Michelle and David Vitrella, manager of trading/EGM. They
are the proud parents of a baby girl born February 27 weighing
over 9 lbs.
NEWS FROM THE GLOBAL FLASH
International
World Watch
Compiled by David I. Oyama
Enron Seeks Deals for Japanese Assets
The Japanese unit of U.S. power producer and trader Enron is considering
asset swaps with Japanese power companies, in a deal that would make Enron
the first
foreign company to buy a Japanese power plant. An Enron Japan official said
it is talking to power companies and "owners of power generators in Japan
about
the possibility of asset exchanges," confirming a report in the Japanese
business daily Nihon Keizai Shimbun. The report also said Enron Japan may
enter deals
with Japanese companies for joint power-generation acquisitions abroad.
Japanese deregulation measures have opened the door to new foreign and
domestic
competitors in an industry dominated for years by 10 regional Japanese firms.
Enron Japan was established last May, two months after deregulation measures
were passed allowing nonutility companies to begin supplying power to large
commercial users such as shopping centers and office towers.
03/01/2001 The Wall Street Journal (Copyright (c) 2001, Dow Jones &
Company, Inc.)
LEGAL STUFF
The information contained in this newsletter is confidential and proprietary
to Enron Corp. and its subsidiaries. It is intended for internal use only and
should not be disclosed. | {
"pile_set_name": "Enron Emails"
} |
Following please find the Daily EnronOnline Executive Summary.
EnronOnline Executive Summary for 12/04/00
Transaction Summary
External Transactions Today 5,500
Average Daily External Transactions (30 day Trailing Avg) 4,097
Total Life to Date Transactions 493,715
EnronOnline Daily % of Entity's Total Transactions for 12/04/00 Trans Percent
Enron North America 4,957 80%
Enron Europe Limited 119 27%
Global Products 224 34%
Enron Metals 200 8%
EnronOnline Percentage of Total Corporate Transactions
(30 day Trailing Avg) 54%
Gross Notional Value of EnronOnline Transactions Total
Today 6,718,666,961
MTD 11,437,759,254
LTD 290,608,284,119
Average Daily Notional Value (30 Day Trailing Avg) 3,095,165,757
Notional Revenue from Physical Flows to Date 19,315,426,224
Counterparties, Users, and Products Offered
Counterparties having transacted to date 593
New Counterparties transacting for the first time today 2
Number of Products Offered Today 1,138
Total Number of External Users Logged on Today 3,225
Average # of External Users logged on (30 day Trailing Avg) 2,890 | {
"pile_set_name": "Enron Emails"
} |
FYI -
New counterparty setup in Global for EOL purposes. Profile Manager was updated today.. Please call me at 5-4435 if you have any questions.
Counterparty:
Encore Energy Solutions, L.P.
CP ID Number:
88408
Contract Number:
96093729
Comments:
New Counterparty established for EOL trading. Updated EOL Profile Manager on 11/21/01
Thanks,
Georgi
Georgi Landau
Enron Net Works
(Ph) 713/345-4435
(Fx) 713/646-2495 | {
"pile_set_name": "Enron Emails"
} |
User ID: enronden
PW: bnaweb22
-----Original Message-----
From: "BNA Highlights" <[email protected]>@ENRON
Sent: Tuesday, November 20, 2001 11:25 PM
To: BNA Highlights
Subject: Nov. 21 -- BNA, Inc. Daily Environment Report
______________________________
DAILY ENVIRONMENT REPORT
Highlights & Table of Contents
November 21, 2001
______________________________
ISSN 1521-9402
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
__________
MONITORING RECOMMENDED IN EPA GUIDANCE ON WATER POLLUTION
REPORTS
Recommendations to states for doing biological monitoring to
determine whether a water body is impaired and requires a
total maximum daily load of pollutants is contained in final
guidance released by EPA. The "2002 Integrated Water Quality
Monitoring and Assessment Report Guidance" calls on states
to develop a comprehensive monitoring and assessment
strategy describing their approach to obtaining data used to
characterize the attainment status of their waters. The
final guidance, developed by EPA's Office of Wetlands,
Oceans and Watersheds in the agency's Office of Water does
not differ substantially from draft guidance circulated last
month. . . . Page A-1, Text E-1
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7h8b6_
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7j1t6_
STAFF SAYS TECHNOLOGY TO MEET NONROAD DIESEL RULES
AVAILABLE, FEASIBLE
Current technology makes it feasible for heavy-duty diesel
engine manufacturers to meet the most stringent emission
standards in place for engines that are more or less than 50
horsepower, according to EPA staff. This finding, announced
in a technical staff paper open for public comment, sets the
agency up to enter the next phase of nonroad diesel engine
regulation--more stringent standards for these engines and
their diesel fuel, says an EPA official in the Office of
Transportation and Air Quality. . . . Page A-8
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g2u4_
NATURAL GAS, PIPELINE INDUSTRIES SEEK LEGISLATION TO IMPROVE
SAFETY
Leading natural gas and liquid pipeline industry groups urge
the Bush administration to press Congress to pass
legislation to improve pipeline safety. In a letter to
Transportation Secretary Mineta, industry officials say a
working group of leaders from liquid pipeline, natural gas
transmission, and natural gas distribution companies "has
reached consensus on numerous issues that promote the
continued safety and reliability of the nation's pipelines."
. . . Page A-2
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g2b2_
U.N. REPORT TARGETS SEWAGE TREATMENT AS TOP PRIORITY TO
PROTECT OCEANS
A United Nations Environment Program report cites poorly
planned coastal development, sewage flows, and excessive
nutrients from industrial and agricultural runoff as the
most serious problems associated with ocean pollution. The
report was prepared for a meeting next week in Montreal of
the organization's Global Program of Action for the
Protection of the Marine Environment from Land-Based
Activities. . . . Page A-3
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g8u3_
PESTICIDE MAKERS GET MORE TIME FOR AIR POLLUTION
PRECOMPLIANCE PLANS
Pesticide active ingredient makers will get three more
months to submit precompliance plans for hazardous air
pollutant emissions limits under a final rule being
published today by EPA. A separate final rule also being
published today changes the definition of "process tank" for
pesticide makers as part of the settlement of a lawsuit
filed by an industry group. . . . Page A-2
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g1y3_
EPA PROPOSES TO ALLOW CERTAIN HAZARDOUS WASTES TO BE SENT TO
LANDFILLS
EPA proposes a rule that would allow, under limited
conditions, hazardous waste eligible for placement in
Corrective Action Management Unit sites to be disposed of in
federally regulated hazardous waste landfills. Several
industry groups had pushed to have the proposed change
included in an EPA rule proposed last year that addressed
Corrective Action Management Unit sites and had sought to
make it easier for industries to clean up hazardous waste
sites. EPA issues this separate, new proposed rule
addressing off-site shipment of some wastes as a result of
those comments on last year's proposal. . . . Page A-4
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g3w1_
REVISIONS TO VERMONT WETLANDS RULES RELAX REQUIREMENTS FOR
DEVELOPERS
Revised wetland rules that would loosen some regulatory
requirements on developers are expected to be adopted in
Vermont next month. The rules would streamline the wetlands
review process in Vermont and ease regulatory burdens for
routine development activities. But the rules also would
provide added protection for Class I wetlands, already the
most protected category of wetlands. . . . Page A-5
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7b3m1_
EPA DRAFT POLICY EVALUATES PESTICIDE EXPOSURE THROUGH
DRINKING WATER
EPA plans to release today for public comment a draft policy
to explain how it will implement the Food Quality Protection
Act of 1996 requirement to evaluate exposures to pesticides
through drinking water. Under the policy, absent evidence to
the contrary, the agency says it will not generally conclude
that drinking water treatment would reduce exposures to a
pesticide. . . . Page A-6
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7d0f0_
WATER BOARD REJECTS INDUSTRY APPEALS ON SAN DIEGO STORMWATER
RULE
The California Regional Water Quality Control Board rejects
the appeals of the San Diego Building Industry Association
and the Western State Petroleum Association to block a plan
for the regulation of stormwater runoff in the San Diego
region. . . . Page A-8
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7b9t0_
NUCLEAR COMMISSION FINAL RULE ALLOWS CHANGES IN STORAGE CASK
DESIGN
The Nuclear Regulatory Commission confirms a final rule
allowing changes to an NRC-approved cask design to hold
spent nuclear fuel in dry storage at power plants. . . .
Page A-7
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7f4n4_
COLORADO MAN RECEIVES JAIL SENTENCE, $100,000 FINE FOR
ILLEGAL DUMPING
A Mesa County, Colo., judge sentences the owner of a
now-defunct cooling systems company to 60 days in jail and a
$100,000 fine for the illegal disposal of hazardous waste. .
. . Page A-7
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y6y7h9_
GOVERNOR EXPECTED TO SIGN BIO AGENT REGISTRY BILL IN NORTH
CAROLINA
Legislation that would require laboratories in North
Carolina to keep an inventory and to report regularly on
potentially dangerous biological agents is approved by the
state's General Assembly. . . . Page A-9
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7h3c7_
___________________
INTERNATIONAL TRADE
___________________
WTO: The European Union assures the United States it will
not promote the use of the "precautionary principle" to
justify the imposition of illegitimate trade barriers in
negotiations expected next year to clarify the relationship
between World Trade Organization rules and multilateral
environmental agreements, such as the Convention on
International Trade in Endangered Species and the Cartagena
Protocol of Biosafety. U.S. officials say the commitment was
made in a letter from the EU Trade Commissioner during the
recent meeting of trade ministers in Doha, Qatar. The
ministers agreed in Doha to launch a new round of
multilateral trade talks that will include discussions on
the relationship between WTO rules and "specific trade
obligations" set out in multilateral environmental
agreements. . . . Page A-3
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7j0x8_
____
TEXT
____
WATER POLLUTION: The 2002 Integrated Water Quality
Monitoring and Assessment Report Guidance for the States
from EPA Office of Water. . . . Page E-1
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7j1t6_
_________________
TABLE OF CONTENTS
_________________
NEWS
AIR POLLUTION
Pesticide makers get three more months to submit NESHAP
precompliance plans . . . Page A-2
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g1y3_
Technology to make nonroad diesel rules feasible, EPA
staff says . . . Page A-8
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g2u4_
HAZARDOUS WASTE
Colorado man receives jail sentence, fine for illegal
waste dumping . . . Page A-7
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y6y7h9_
Proposal would allow certain wastes to be shipped to
off-site facilities . . . Page A-4
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g3w1_
NORTH CAROLINA
Bio agent registry bill approved; measure to be signed by
governor . . . Page A-9
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7h3c7_
PESTICIDES
EPA draft policy addresses impact of drinking water
treatment on exposures . . . Page A-6
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7d0f0_
PIPELINE SAFETY
Natural gas, liquid pipeline industries urge action on
legislation . . . Page A-2
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g2b2_
RADIOACTIVE WASTE
Commission confirms effective date for rule on storage
cask design . . . Page A-7
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7f4n4_
TRADE ISSUES
EU assures U.S. it will not pursue 'precautionary
principle' in new negotiations . . . Page A-3
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7j0x8_
VERMONT
Revisions to state rules on wetlands loosen some
requirements on developers . . . Page A-5
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7b3m1_
WATER POLLUTION
Biological monitoring recommended in final EPA guidance
on reports . . . Page A-1
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7h8b6_
Report lists causes of ocean pollution, targets sewage
treatment as priority . . . Page A-3
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g8u3_
State board rejects industry appeals on San Diego
stormwater regulation . . . Page A-8
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7b9t0_
IN BRIEF
China approves tax rebates tied to auto emissions . . .
Page A-10
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7f9t8_
Executives sentenced for falsified test results . . .
Page A-10
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7m4t6_
Japanese town votes down nuclear plant . . . Page A-10
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7g0n7_
New organophosphate tolerances requested . . . Page A-10
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7m4t9_
Poll says 64 percent oppose relaxing enforcement . . .
Page A-10
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7m4t3_
________
CALENDAR
________
CONGRESS
Legislative calendar . . . Page C-1
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7p0c5_
PRESIDENT
President's calendar . . . Page C-2
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7p0k3_
_________________
REGULATORY AGENDA
_________________
COMMENT DEADLINES
Due dates for comments on pending rules . . . Page D-4
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7b3n8_
NOV. 21 FEDERAL REGISTER
Entries from today's table of contents . . . Page D-1
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7c6v0_
NOV. 20 FEDERAL REGISTER
Previous day's entries with page citations . . . Page D-3
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y6r1z2_
____
TEXT
____
Water Pollution
EPA guidance for compiling integrated monitoring and
assessment reports . . . Page E-1
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7j1t6_
______________
TABLE OF CASES
______________
Colorado v. Spence (Colo. Dist. Ct.) . . . Page A-7
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y6y7h9_
United States v. Baker (N.D. Ohio) . . . Page A-10
http://pubs.bna.com/ip/BNA/den.nsf/id/a0a4y7m4t6_
___________________________________________________________
Daily Environment Report (ISSN 1521-9402) 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
[email protected].
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"
} |
Transwestern had 11 releases during the period 11/15-12/15/00. None were
above max. rate. All were at max. rate.
El Paso had several dozen releases during this period in the CA zone. All
but 5 are listed as straight max rate deals. Five have a fixed rate which
are also within +/- 1 cent of the max rate (assumably for surcharge related
reasons).
---------------------- Forwarded by Shelley Corman/ET&S/Enron on 12/13/2000
12:34 PM ---------------------------
Shelley Corman
12/13/2000 11:23 AM
To: S
Subject: Additional Arguments for Enron's Gas Cap Response
Premise: FERC should investigate the utility decisionmaking that led the
Califonia market to the point of excess gas demand, rather than rush to
impose gas price caps.
Utilities had ample opportunity to fill up storage last summer, but most
likely choose not to for price reasons.
Transwestern had at least a 100 M/D of available capacity to Califonia and to
the SoCal Needles delivery point through July 2000.
Avg. Scheduled (compared to 1.1 Bcf/D capacity): April 780
May 820
Jun-Jul 980
Aug 1050
Oct-Dec 1080 (essentially full)
During the period April-Jul, TW was able to deliver up to the full 750 M/D at
Needles, but on many days SoCal gas instituted "windowing," lowering the
ability to take at Needles to 680-720 M/D. SoCal's argument was that they
didn't believe that there was sufficient demand to run at the 750 M/D level
(even when TW had nominations of 750 M/D).
El Paso was also not full to Califonia until the last month. At all times
El Paso had available capacity at PG&E delivery points. During the pipeline
outage El Paso was limited in their ability to fully deliver to the North
SoCal delivery point. However, they were not full for deliveries to SoCal at
the south system delivery point.
2. Utilities have opposed pipeline expansions to California
Sempra protested Transwestern's 140 M/D Gallup expansion, arguing that there
is no need for new capacity (CP99-522).
Sempra has also protested Questar's application to convert an oil line to new
gas pipeline service to California (S. Trails Expansion). | {
"pile_set_name": "Enron Emails"
} |
Hey girlies - The tariff on this lunch was $16.00 per person. Cash or check is fine. Merci.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, February 11, 2002 3:16 PM
To: Donoho, Lindy; Lokay, Michelle; Lindberg, Lorraine
Subject: Thanks Gals
Hey, Gals,
I just want to say thanks again for lunch other other day, it was great seeing each of you once again. It's very busy over here thanks a million once again.
Take care, let me know when you would like to come over this week.
Linda
Telephone 713-287-1046. | {
"pile_set_name": "Enron Emails"
} |
Monday's Contents:
1.07.02 Daily News Update and Stock Performance
As stated in our November 16 issue of The Prometheus File, Reed Wasden Research will be sending our daily publication and morning notes for a 45-day trial period. Included is our daily update and notes on companies that RWR follows. For those who do not wish to receive the daily updates, please reply with WEEKLY ONLY as the subject. Please allow at least one day for your request to be processed.
Best regards,
Cary, Peter and the Team | {
"pile_set_name": "Enron Emails"
} |
Aqui esta mi resume, pendejo. I briefly looked at some of the job
descriptions, and the Java-oriented ones sound interesting. How does this
work? Do I need to interview for a specific position?
v
----- Original Message -----
From: <[email protected]>
To: <[email protected]>
Sent: Wednesday, January 03, 2001 12:41 PM
Subject: Resume
>
> VH -
>
> Hola pinche! Feliz neuvo viejo!!!!
>
> Duuuuuuude, send me your resume, por favor. I am going to send it on to
> the HR folks and see if we can get you an interview.
> Yeeeeeeeeehaaaw!!!!!!!!!!
>
>
> Later, vato -
>
> JRW
- Virgil's Resume.doc | {
"pile_set_name": "Enron Emails"
} |
Thanks, Mark!
To: Paul Simons/LON/ECT@ECT
cc:
Subject: Re: EnronCredit/Deutsche Bank
I certainly haven't seen anything and there is nothing in our database - you
might check with Shari Stack (I'm in Portland until Wed.).
Paul Simons
03/06/2000 10:37 AM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: EnronCredit/Deutsche Bank
Mark
Hope all's well.
Has a collateral document shown up in Houston from Deutsche in connection
with trading credit with them? Thanks
Paul
---------------------- Forwarded by Paul Simons/LON/ECT on 06/03/2000 16:32
---------------------------
Bryan Seyfried
29/02/2000 09:26
To: Edmund Cooper/LON/ECT@ECT, Paul Simons/LON/ECT@ECT
cc:
Subject: EnronCredit/Deutsche Bank
Where do we stand on this?
---------------------- Forwarded by Bryan Seyfried/LON/ECT on 29/02/2000
09:27 ---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 29/02/2000 09:25
To: [email protected]
cc:
Subject: EnronCredit/Deutsche Bank
Brian - DB is keen to open a discussion re credit enhancement, but has not
received any feedback on the proposed Confidentiality Letter, which was sent
to Paul Simons. Please could you chase it up.
John Wake
JLT Risk Solutions Ltd.
Tel: +44 20 7558 3756
Fax: +44 20 7528 4500
Mobile: +44 385 735164
email: [email protected]
********************************************************
JLT Risk Solutions Ltd
6 Crutched Friars, London EC3N 2PH. Co Reg No 1536540
Tel: (44) (0)20 7528 4000 Fax: (44) (0)20 7528 4500
www.jltgroup.com
--------------------------------------------------------
The contents of this e-mail as received may not be a
complete or accurate version of that sent. If you
consider that the contents are material to the formation
of a contract or you are otherwise relying upon its
accuracy, you may wish to request a copy be sent by
facsimile or normal mail. The information in this e-mail
is confidential and may be privileged. If you are not
the intended recipient, please destroy this e-mail and
notify the sender immediately - you should not retain,
copy, distribute or use this e-mail for any purpose, nor
disclose any of its contents to any other person.
******************************************************** | {
"pile_set_name": "Enron Emails"
} |
Guys, attached you will find a completed 2001 Pro Forma budget needing Lavo's
review and then detailed review with each team.
This workbook has a number of worksheets including:
a) pkrs o&m - this details the o&m costs for the sold peakers assuming we
own throught Q2 - charged to the OOC;
b) driftPrepay - shows the detail as provided netting drift and pre-pay
expenses - not all that relevant if you assume that increasing drift will be
offset by larger monetizations;
c) Summary - overall completed income statement - note that non-external
capital charges are added back to reach EBIT;
d) commercial income - guts of the commercial budget;
e) group expenses - shows the detail on ENA net groups expenses, EIS/ENW/IT
non-allocable, corporate charges not allocated to specific commercial groups
and bonus/other comp;
f) HP&L - takes a cut at HP&L income statement and balance sheet in 2001
assuming a sale by the end of Q2 - this needs some sit down work with Redmond;
g) Balance Sheet Allocations - this defines by group the capital employed,
assets to be sold and new capital expenditures expected in 2001 - then
calculates a net capital and depreciation charge;
h) Balance Sheet - this defines the existing balance sheet with no
anticipated sales or increases by vehicle (ie) Enserco, JEDI, etc - merchant
investments are charged @ a blended rate of 15% and strategic investments are
charged @ a blended rate of 9%.
Two action items:
a) Print out for John - Commercial Income & Summary worksheets for his
comment and review &
b) Start putting completed commercial packages together for
distribution/further comment by the business units in the next couple of
weeks - include detailed income statement, headcount, balance sheet
(including expected increases,decreases, capital charge and depreciation),
leave pages open for goals & objectives and target customer list. I would
like to review format and detail for each group before distribution.
Regards
Delainey | {
"pile_set_name": "Enron Emails"
} |
Attached is a newly revised Credit Watch listing. If there are any
personnel in your group that were not included in this distribution, please
insure that they receive a copy of this report.
To add additional people to this distribution, or if this report has been
sent to you in error, please contact Veronica Espinoza at x6-6002.
For other questions, please contact Bill Bradford at x3-3831, Russell Diamond
at x5-7095, Brant Reves at x3-9897, or Veronica Espinoza at x6-6002. | {
"pile_set_name": "Enron Emails"
} |
http://www.cjta.net/special/rabbit3.htm | {
"pile_set_name": "Enron Emails"
} |
OK....see you then.
-----Original Message-----
From: Germany, Chris
Sent: Tuesday, November 20, 2001 10:34 AM
To: Campos, Sylvia A.
Subject: RE: CGLF contract
Early this afternoon would be fine, say around 1:30 PM. My new location is 06456.
Thanks
-----Original Message-----
From: Campos, Sylvia A.
Sent: Tuesday, November 20, 2001 10:30 AM
To: Germany, Chris
Subject: RE: CGLF contract
Chris,
I have the termination letter initialed by Gerald Nemec in Legal. Let me know when I can come and bring it to you for your initials and Scott Neal's signature.
-----Original Message-----
From: Germany, Chris
Sent: Monday, November 19, 2001 3:24 PM
To: Campos, Sylvia A.
Subject: RE: CGLF contract
You lucky girl. Let tell me all the interesting stuff that's going on!!!!!!!
-----Original Message-----
From: Campos, Sylvia A.
Sent: Monday, November 19, 2001 2:54 PM
To: Germany, Chris
Subject: RE: CGLF contract
I was on loan to EES since mid July.
-----Original Message-----
From: Germany, Chris
Sent: Monday, November 19, 2001 2:51 PM
To: Campos, Sylvia A.
Subject: RE: CGLF contract
I'm wonderful thank you very much. Where have you been? How are you doing?
-----Original Message-----
From: Campos, Sylvia A.
Sent: Monday, November 19, 2001 2:47 PM
To: Germany, Chris
Subject: RE: CGLF contract
How are you doing Chris? I've been away for awhile....just wanted to let you know that I'm working on it.
-----Original Message-----
From: Germany, Chris
Sent: Monday, November 19, 2001 12:36 PM
To: Campos, Sylvia A.
Subject: RE: CGLF contract
And, because I waited so long, it should be done in a great big hurry!
-----Original Message-----
From: Hilliard, Marlene
Sent: Friday, November 16, 2001 3:05 PM
To: Campos, Sylvia A.
Cc: Germany, Chris; Nemec, Gerald
Subject: FW: CGLF contract
Attached is a copy of a termination letter. Per the terms of the contract, notice of termination should be 6 months prior to termination. Chris Germany has requested that this contract be terminated.
The termination letter should be routed to Gerald Nemec for review and redlining. Then, routed for review and initial to the Trader, Chris Germany, to Legal - Gerald Nemec, and then to the Vice President - Scott Neal. Contact Scott Neal through Kimberly Bates
<< File: CGLF Termination Letter#37393.doc >>
-----Original Message-----
From: Germany, Chris
Sent: Friday, November 16, 2001 2:15 PM
To: Hilliard, Marlene
Subject: FW: CGLF contract
Our contact for this is Janice Felton. Her number is 713-267-4210. Please call her on Monday and let her know that ENA wishes to terminate contract 37393 effective 5/31/2002. Ask her what she needs in writing from us then draft it and send it to her attentions.
Thanks
-----Original Message-----
From: Germany, Chris
Sent: Tuesday, October 23, 2001 1:35 PM
To: Hilliard, Marlene
Subject: RE: CGLF contract
I believe its Janice Felton but I will make sure.
Thanks
-----Original Message-----
From: Hilliard, Marlene
Sent: Tuesday, October 23, 2001 12:44 PM
To: Germany, Chris
Subject: FW: CGLF contract
Yes Chris I can draft a termination letter. The termination notice period is 6 months prior written notice to either party.
Let me know who it should be addressed to and I will draft the letter and forward it prior to December 1, 2001 which will give the counterparty 6 month prior written notice. I will have to have it executed by the proper parties of course.
I will wait to hear from you.
-----Original Message-----
From: Germany, Chris
Sent: Tuesday, October 23, 2001 12:31 PM
To: Ramirez, Robert
Cc: Fletcher, Brenda H.; Hilliard, Marlene
Subject: CGLF contract
Robert, when you get a chance, please give me all the service deal numbers for CGLF k#37393.
Marlene, the new termination date for this contract is 5/31/2002. If I have time, I am going to send CGLF a termination notice for this contract effective 5/31/2002. Is that something you could do for me?
Let me know. | {
"pile_set_name": "Enron Emails"
} |
Susan,
We had the best time. Good friends, great experiences, weather , etc. Now
we all want to move to Denver. I am glad that Bens outfit worked out so
well.
I thought it was cute and I could picture him wearing it when I purchased
it. So-------are you still planning the retreat weekend? I am soooo
jealous. I would love to go but as I said I can not justify the expense.
Any consideration to something a little more modestly priced? Do you already
have the plans made?
Call me or write me back. Hey - I am getting more and more excited about
NYC. | {
"pile_set_name": "Enron Emails"
} |
The East Power traders would like to commence transacting on financial swaps.
We had anticipated this, so the Product Type was already built and has been
approved. The Index and Loadshape built with this Product were done so based
on comments from John Suarez (the trader), who has approved the attached.
Leslie - please offer commets/suggestions from the power perspective.
Mark - final approval will need to come from you since this is a financial
product.
Also, trading wants us to consider price changes for the Product because the
prices published do change from time to time. I know that the ISDA
Definitions contemplate a 30-day true-up, but I can't find a like provision
in the GTC. So - I took a hack at some language to contemplate the issue:
"If the price published (as set forth herein) on any day during a
Determination Period is subsequently corrected and the correction is
announced within 30 calendar days of the original publication date, the
parties agree that the corrected price shall take affect as if it were the
price published on the original publication date and the Floating Price will
be adjusted accordingly. Payments of the adjusted Floating Amount will take
place 5 business days following notification by either party of a change to a
published price."
Dale
3-9746 | {
"pile_set_name": "Enron Emails"
} |
Along with the TW order setting a hearing, the FERC has also imposed new
reporting requirements for deliveries starting August 1. The questions ask
TW to provide daily nominated, scheduled and delivered at Cal. border
points. I think this data will lead FERC to further ask about why the
scheduled number is so often below the nominated and I want to be prepared to
explain the window process. With Jeff Fawcett and Julia White both gone, I
guess I draw the lucky straw of explaining this.
Any info that you can forward in the next week or two would be appreciated.
-----Original Message-----
From: Dasovich, Jeff
Sent: Thursday, July 26, 2001 12:43 PM
To: Corman, Shelley
Subject: RE: Transwestern Hearing
i think that i can get you something. how quickly do you need it?
best,
jeff
Shelley Corman/ENRON@enronXgate 07/26/2001 12:28 PM To: Jeff
Dasovich/NA/Enron@Enron cc: Subject: RE: Transwestern Hearing
Do you have any materials that describe SoCal's current windowing procedure? | {
"pile_set_name": "Enron Emails"
} |
FYI
---------------------- Forwarded by Susan Flynn/HOU/ECT on 04/10/2000 09:26
AM ---------------------------
From: Russell Diamond
04/07/2000 12:14 PM
To: William S Bradford/HOU/ECT@ECT, Debbie R Brackett/HOU/ECT@ECT, Tanya
Rohauer/HOU/ECT@ECT, Rod Nelson/HOU/ECT@ECT, Christopher Smith/HOU/ECT@ECT,
Mary Tudon/HOU/ECT@ECT, Nidia Mendoza/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT,
Russell Diamond/HOU/ECT@ECT, John Suttle/HOU/ECT@ECT, Tracy Ngo/HOU/ECT@ECT,
Lesli Campbell/HOU/ECT@ECT, Molly Harris/HOU/ECT@ECT, Paul
Radous/Corp/Enron@ENRON, Edward Sacks/Corp/Enron@Enron, Brad
Schneider/Corp/Enron@Enron, Tom Moran/HOU/ECT@ECT, Veronica
Espinoza/Corp/Enron@ENRON, Anne Bertino/HOU/EES@EES, Nichole
Gunter/HOU/EES@EES, Jeffrey T Hodge/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT,
Carol St Clair/HOU/ECT@ECT, Marie Heard/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT,
Susan Bailey/HOU/ECT@ECT, Sheetal Patel/HOU/ECT@ECT, Larry Joe
Hunter/HOU/ECT@ECT, Julie Meyers/HOU/ECT@ECT, Stephanie Sever/HOU/ECT@ECT,
Souad Mahmassani/Corp/Enron@ENRON
cc:
Subject: American Central Energy - NO TRADES
American Central Energy, LLC's guaranty's have been revoked by their
guarantor, American Central Gas Companies. The guaranty's include a $1MM
guaranty supporting financial trading and a $2MM guaranty supporting physical
trading.
NO TRADES should be approved going forward.
The counterpary has been placed on Credit Watch for No Trades.
The appropriate traders have been notified although most of their
transactions are executed through EOL. Thier profile on EOL will be amended
to NO TRADES until more information is made available.
Russell | {
"pile_set_name": "Enron Emails"
} |
Linda Guinn has this information and will contact you shortly | {
"pile_set_name": "Enron Emails"
} |
The PRELIMINARY DPR reflects a 5 Day Loss Notification for Global Products in
the following amount:
Limit - ($18,750,000)
5 Day Loss - ($19,108,000) | {
"pile_set_name": "Enron Emails"
} |
Hi Brian,
What a great surprise!
Life is pretty good. To see a summary, you might want to check out Paige's
website: http://www.southwestern.edu/~recordp/ (I tried to copy that as a
link, but I think I messed up.)
I guess Peggy told you (or you figured out from my email address) that I'm
working at Enron. I like it. I enjoy being back downtown after being a
suburban lawyer. Home life is relatively calm, which has always been a goal
of mine. I'm dealing with my folks getting older, with the health problems
which come with that process. Overall, I'm very blessed and happy.
How about you? If you are spending time at HM, you must still be doing the
law thing. I might have lost a bet on that one. So how's your life?
Paige completed her minor in German. Consider it a Wunder legacy! Her
brother, Michael is a real charmer. You would get a huge kick out of him.
Thanks so much for writing. I can't wait to hear what is going on with you.
Kay
"Wunder, Brian Kent" <[email protected]> on 08/22/2000 12:07:20 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: catching up
Kay,
I've been spending some time at Hays McConn in the past few weeks --
depositions. I saw Peggy and we spoke about you. I just wanted to know how
you and Paige were doing.
Brian
This e-mail and any attached files may be confidential and subject to
attorney/client privilege. If you received it in error, please immediately
notify the sender by return e-mail or by calling (713)654-7600. | {
"pile_set_name": "Enron Emails"
} |
In order to bring better legal coordination and standardization to Enron's Risk Assessment and Control (RAC) group, we have formed a new legal group, which will initially include Lisa Mellencamp (Finance), Marcus Nettelton (Power Trading), Carol St. Clair (Broadband/Power Trading), Mary Cook (Financial Swaps), Peter Keohane (Canada), Ed Essandoh (Retail), Paul Darmitzel (Retail) and Elizabeth Sager (Power Trading) (Team Leader). This group will focus on, among other things, managing Enron's exposures with bankrupt counterparties, working out credit solutions with distressed counterparties and standardizing our overall credit practices. The initial members in this group have been drawn from Enron's numerous legal groups in order to gain a broader perspective. Each of these members will provide support to this new group in addition to their current responsibilities.
Within RAC, Michael Tribolet will focus on distressed counterparties, in conjunction with Bill Bradford, who continues to manage the Credit Risk Management group.
Please join us in supporting the efforts of this new group. | {
"pile_set_name": "Enron Emails"
} |
To all SITARA users:
The SITARA system will be brought down on a nightly basis between 12:01AM -
4:00 AM Central Time for nightly processing.
The system will be available in the morning after that time, with positions
primed by 5:30 AM.
CPR will be available during these times.
Please call the SITARA Hotline ((713) 853-7049) if you have any questions or
concerns. | {
"pile_set_name": "Enron Emails"
} |
Hi Louise,
Is this going to be the new name or is it a working name? If it is the actual name, we can get the verisign registration done, and begin some graphics work. Otherwise, I'll hold on that.
--jay | {
"pile_set_name": "Enron Emails"
} |
Sara:
I asked Sean to contact either you or Mark if anything needs to be done on
the financial GTC's for this counterparty.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
----- Forwarded by Carol St Clair/HOU/ECT on 05/30/2001 09:57 AM -----
Harry M Collins
Sent by: Vanessa Griffin
05/29/2001 03:24 PM
To: Sean Keenan/Enron@EnronXGate
cc: Ken Curry/Enron@EnronXGate, Julia Murray/HOU/ECT@ECT, Cheryl
Lindeman/ENRON@enronXgate, Deb Korkmas/HOU/ECT@ECT, Dan Lyons/HOU/ECT@ECT,
Mark Taylor/HOU/ECT@ECT, Carol St Clair/HOU/ECT@ECT
Subject: ENA - - Mitsui & Co. (USA) Inc. GTC's
Pursuant to our discussion, please find enclosed separate ENA-Mitsui Steel
GTC's for physical steel.
I have made the requested changes in the following provisions:
Clause 1.3
Clause 3.1
Clause 3.2
Clause 4.1
Clause 8
I am also enclosing a redlined version for ease of comparison. Mark Taylor
or Carol St. Clair should be consulted to make any changes to the financial
GTC's. | {
"pile_set_name": "Enron Emails"
} |
fyi,rick
-----Original Message-----
From: Apollo, Beth
Sent: Thursday, June 14, 2001 11:03 AM
To: Brown, Michael - COO London
Cc: Beck, Sally; Buy, Rick; Dyson, Fernley
Subject: List of issues from last week for DPR market & credit risk Aggregation
Michael -- as requested in this morning's meeting (Houston time)
attached below is the file which reflects the graphs that we spoke about this morning.
There were 16 errors last week for all business units(10 of which were Europe's). An "error" in this case is usually very material, like not being able to pick up the whole UK power position and p/l.
we are tracking several Metrics to understand how Human vs IT processes are affecting the daily aggregation effort.
I am happy to discuss if you would like.
Beth x35014
It may be easier to read if you have someone print out the graphs -- the come up rather small on the screen
-----Original Message-----
From: Carrizales, Blanca
Sent: Thursday, June 14, 2001 10:36 AM
To: Apollo, Beth
Subject: | {
"pile_set_name": "Enron Emails"
} |
Scott Neal asked me to include you--I am writing a summary of what we're going to need right now, you should have it in less than 10 minutes.
Thanks
-----Original Message-----
From: Brawner, Sandra F.
Sent: Friday, October 26, 2001 1:39 PM
To: Calcagno, Suzanne
Subject: RE: Pricing of the Total
I have no idea what this e-mail is suppose to mean to me?
-----Original Appointment-----
From: Jackson, Brandee On Behalf Of Calcagno, Suzanne
Sent: Friday, October 26, 2001 1:27 PM
To: Mckay, Brad; Brawner, Sandra F.; Calcagno, Suzanne; Superty, Robert; Mckay, Jonathan
Cc: Neal, Scott
Subject: Pricing of the Total
When: Friday, October 26, 2001 2:30 PM-3:00 PM (GMT-06:00) Central Time (US & Canada).
Where: EB3271 | {
"pile_set_name": "Enron Emails"
} |
You don't have me beat. We have them delivered at least a couple times a
year. The first time I saw the lobby filled with Krispy Kreme's I thought I
must have died and that was heaven. They were handing out boxes to people as
they got of the elevators. If they did that everyday I would be more excited
to get here. of course then I'd have to take the freight elevator b/c
anything else would be too small. I got to work at 3:45 this morning, so I'm
actually going to leave pretty soon. Unfortunately I'll be back later. One
of our people is on vacation so I'm covering the night shift tonight. So it
should be a nice 20 hour day today.
I'm going Christmas shopping this weekend, so let me know if you still need
something for mom. Not that I have any great ideas, but I'm hoping I can
find her some clothes. If all else fails I'll get her blue earrings!! I'm
tempted to find somewhere where I can buy blue and red earrings in bulk and
give her a couple dozen pairs of each.
Are you watching CNN right now? One of the protestors is holding a sign that
has Gore's name written with the communist sickle as the G. It's pretty
funny. I also like the Sore Loserman signs.
Enjoy a doughnut for me.
Robin
Paul Rodrigue <[email protected]> on 12/01/2000 09:08:20 AM
Please respond to [email protected]
To: [email protected]
cc:
Subject: A little bit of heaven
I have you beat. Krispy Kreme delivers ;) We must have
had over 50 dozen delivered here this morning. yum yum yum...
__________________________________________________
Do You Yahoo!?
Yahoo! Shopping - Thousands of Stores. Millions of Products.
http://shopping.yahoo.com/ | {
"pile_set_name": "Enron Emails"
} |
OK,
So far it looks likes this. "Yes" is a date you can meet, "No" you can't.
18 19 21 22 25 26 27
Jerry No No No No No No Yes
Mons No Yes No No Yes Yes Yes
Robert
Dometrios
Lisa
Chris
Carmine
John
Bill
Susan
Thanks!
Mons
-----Original Message-----
From: Harshbarger, Robert [mailto:[email protected]]
Sent: Tuesday, June 12, 2001 5:56 PM
To: Ellingson, Mons M(Z34655); 'Fotiou, Demetrios'; 'Grow, Lisa';
'Smith, Chris'; 'Tilghman, Carmine'; 'Underwood, John'; 'Williams,
Bill'; '[email protected]'; 'Holden-Baker, Susan'
Cc: Hackney, Mark W(Z39911)
Subject: RE: A3A1 Ad Hoc Review Team
Great suggestion. Yes, a meeting is needed, especially for same day
timelines.
May I suggest the conference center meeting rooms at the Portland Airport?
A fly-in, fly-out meeting 9:30 a.m. to 3:30 p.m.
If you have a better location or better idea, speak-up. Otherwise, I'll
check on availability of a room. Looks like we are down to the last two
weeks of this month - 18, 19, 21, 22, 25, 26, or 27.
I'll try to send out a list of topics for an agenda tomorrow.
Robert Harshbarger
Puget Sound Energy
OASIS Trading Manager
425.882.4643 (desk)
206.604.3251 (cell)
> ----------
> From: Holden-Baker, Susan - TMS-DITT2[SMTP:[email protected]]
> Sent: Tuesday, June 12, 2001 1:33 PM
> To: 'Harshbarger, Robert'; 'Ellingson, Mons'; 'Fotiou, Demetrios';
> 'Grow, Lisa'; 'Holden-Baker, Susan'; 'Smith, Chris'; 'Tilghman, Carmine';
> 'Underwood, John'; 'Williams, Bill'; '[email protected]'
> Cc: 'Hackney, Mark'; Carter, Gloria J - TMS-DITT1; Ellingwood, Robert G
> - TMS; Hutchison, Wesley A - TMS; Buchanan, Shepard - TMS-DITT1; Buckmier,
> Shirley M.- TMS; McNeil-Keister, Jean - TMS; Hoffman, Lorie S - TMS-DITT1;
> Lyons, Barry D - TMS-DITT1
> Subject: RE: A3A1 Ad Hoc Review Team
>
> <<File: NERC Policy 3 E-tag timelines-draft2.doc>>
> I have attached BPA Transmission Schedulings' response to the questions
> posed by Bob in his email dated May 21 below. If the group feels it would
> be helpful to meet to discuss the timeline issues, I am in support of that
> effort. Otherwise, I look forward to the responses from the rest of the
> group. Thanks, Sue.
>
> Sue Holden-Baker
> Bonneville Power Administration
> Transmission Supply
> (360) 418-8278
> [email protected]
>
>
> -----Original Message-----
> From: Harshbarger, Robert [mailto:[email protected]]
> Sent: Tuesday, May 22, 2001 8:50 AM
> To: 'Ellingson, Mons'; 'Fotiou, Demetrios'; 'Grow, Lisa'; 'Holden-Baker,
> Susan'; 'Smith, Chris'; 'Tilghman, Carmine'; 'Underwood, John';
> 'Williams, Bill'
> Cc: 'Hackney, Mark'
> Subject: RE: A3A1 Ad Hoc Review Team
>
>
> Timeliners:
>
> Revision to yesterday's e-mail - due date is end of July. So proposals by
> mid-June, first draft report by early/mid-July, discussion throughout.
>
> Bob
>
> > ----------
> > From: Harshbarger, Robert
> > Sent: Monday, May 21, 2001 5:16 PM
> > To: Ellingson, Mons; Fotiou, Demetrios; Grow, Lisa;
> Holden-Baker, Susan;
> > Smith, Chris; Tilghman, Carmine; Underwood, John; Williams, Bill
> > Cc: 'Hackney, Mark'
> > Subject: A3A1 Ad Hoc Review Team
> >
> > Yes, that's right, you did raise your hand for this.
> >
> > We are to submit to ISAS any recommendation(s) by August ??, 2001 (what
> > was the date, I didn't write it down).
> >
> > Is there benefit to have a face-to-face meeting? Either way, we'll use
> > e-mail for discussion and maybe a conference call or two.
> >
> > First assignment is to read:
> > * A3A1-Interim is what we are currently running with.
> > * A3A1-version3-draft2 goes before the NERC BOT June 10-11.
> > * A3A1-candr contains public comments and responses from NERC IS.
> >
> > <<File: a3a1-interim.doc>><<File: a3a1v3d2-0501.doc>><<File:
> > a3a1candr.doc>>
> > Questions to keep in mind:
> > * Are our current timelines as good as it gets?
> > * Do we want to adopt the Eastern Interconnection's timelines?
> > * What are the deficiencies of our timelines?
> > * Will these deficiencies be present under 1.7?
> > * Which timing requirements could be changed with an reasonable amount
> > of effort (i.e., tariff items, AGC ramp times, A3A1, etc.)?
> >
> > Remember....
> > <<File: trainedpros.wav>>
> >
> > Bob Harshbarger
> > OASIS Trading Manager
> > Puget Sound Energy
> > (425) 882-4643 voice
> > (425) 882-4496 fax
> > (206) 405-5161 pager
> > (206) 604-3251 cell
> >
>
>
- Mtg Dates.xls | {
"pile_set_name": "Enron Emails"
} |
Jere,
I have the confidentiality agreements fully executed on our side. What is
your address, so I can forward to you for execution by Tri-State. Thanks. | {
"pile_set_name": "Enron Emails"
} |
This draft has not been sent due to pending guaranty issues. The attached
has guaranties for The Coastal Corporation and Enron Corp. for 20mm / 30 mm
( per your change) and are specific to this agreement. Dan has advised the
guaranties are written for the agreement and we cannot change to include
other Enron Companies. You will need to contact Enron Corp. for a guaranty
to included other companies.
Please let me know how you wish to proceed. Finally, the contact on your
worksheet is Faye Carlin (713) 877-7133
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
[email protected]
Phone 713-853-7658
Fax 713-646-3490 | {
"pile_set_name": "Enron Emails"
} |
9 Monroe Place
Cranbury, NJ 08512 | {
"pile_set_name": "Enron Emails"
} |
Sally - Notes from the NY visit...
---------------------- Forwarded by Brent A Price/HOU/ECT on 07/05/2000 01:29
PM ---------------------------
From: Andrew Cornfield on 06/28/2000 02:57 PM
To: Brent A Price/HOU/ECT@ECT
cc:
Subject: US meeting notes as discussed | {
"pile_set_name": "Enron Emails"
} |
Shemin,
Maria has been working on reviewing the rate refund calculations for DTI. She has a few questions that I cannot answer. Is it OK to call Bill Saviers and see if we can talk with one of their folks about how the refund is calculated?
rac
-----Original Message-----
From: Proctor, Shemin V. [mailto:[email protected]]
Sent: Friday, June 14, 2002 8:35 AM
To: Concannon, Ruth
Subject: RE: Refund report at FERC
Let's include this issue as one of topics to be discussed today.
-----Original Message-----
From: Concannon, Ruth
Sent: Thu 6/13/2002 2:30 PM
To: Proctor, Shemin V.; Germany, Chris; Garza, Maria
Cc:
Subject: FW: Refund report at FERC
Bill agreed to provide us this information during the Dominion conference call. I think we knew most of this, except that another penalty refund is going to need to be addressed.
Shemin, I forgot to flag the language in one of the Asset Management sale agreements that we just copied that talks about waiver of claims and who needs to pay in the future. Sorry. This agreement may change the VNG refund decision that we talked about a few days ago.
Ruth
-----Original Message-----
From: [email protected] [ <mailto:[email protected]>]
Sent: Thursday, June 13, 2002 11:18 AM
To: Concannon, Ruth
Subject: Refund report at FERC
Ruth the refunds for EES and ENA are involved with FERC Docket No.
RP00-632-007. DTI made three filings: an original and two corrective
filings. Also DTI is preparing to distribute penalties collected during
last year and Enron will participate in getting more "refunds" under that
distribution report. I understand the amount will be less than $100 as I
understand.
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at [email protected] and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you.
********************************************************************** | {
"pile_set_name": "Enron Emails"
} |
-----Original Message-----
From: Love, Phillip M.
Sent: Monday, January 28, 2002 12:09 PM
To: Cheung, Cecilia; Giron, Darron C.
Cc: Lim, Francis S.
Subject: RE: Additional Book to Move
the book is ENA-FT-WT-SOCAL. Answer to question 2 & 3 - yes
Commodity code NG
Move deals as of 1/1/02
Do not understand question number 6 - other side should remain counter party
PL
-----Original Message-----
From: Cheung, Cecilia
Sent: Monday, January 28, 2002 10:51 AM
To: Giron, Darron C.
Cc: Love, Phillip M.; Lim, Francis S.
Subject: RE: Additional Book to Move
Darron,
Please confirm the following:
1. I can't find the book ENA-WT-SOCAL in Estate database (please provide the CP ID)
2. Move active Financial Deals from NG-PRICE (CP ID 11360)
3. Move active Financial Deals from NG-PR-OPT (CP ID 92649)
4. Commodity code: NG or NGGJ?
5. Please provide the cutoff date to determine active deals (e.g. instr_end_dt > ? 1-jan-2002?)
6. Use ENA CP ID 1305 as the other side counterparty?
If I can have all the answers soon then I think the deals move can be completed around 3:00p.m.
Thanks,
Cecilia
x53362
-----Original Message-----
From: Giron, Darron C.
Sent: Monday, January 28, 2002 8:55 AM
To: Cheung, Cecilia
Cc: Love, Phillip M.
Subject: Additional Book to Move
Cecilia,
In addition to moving the deals detailed in my previous email, please move only financial deals with the same counterparties from NG-PR-OPT to ENA-WT-SOCAL. I realize it's a big list, but how long will the entire process take? If you have any questions, please let me know. Thanks.
DG
-----Original Message-----
From: Giron, Darron C.
Sent: Friday, January 25, 2002 3:56 PM
To: Cheung, Cecilia
Cc: Love, Phillip M.
Subject: More Counterparties
Attached is a long list of counterparty names to move from NG-PRICE into ENA-WT-SOCAL. Please move only financial deals only. Please let me know when this is complete. Thanks.
DG
<< File: PositiveMTMCounterparties.xls >> | {
"pile_set_name": "Enron Emails"
} |
We have secured a phone bridge to listen to the special FERC meeting being
held on Friday, Dec. 15th.
I have reserved the Cascade Conference Room for the call.
Please call me Thursday if you have any questions, or see Mary Hain today.
Thank you.
Lysa
x7927 | {
"pile_set_name": "Enron Emails"
} |
I have flow at meter 989602 for July without a deal to allocate to. For
June production, deal number 276494 was at the meter. Please either extend
the deal or create a ticket. If you have any questions, please call me at
ext. 35251.
Thank you,
Mary Jane | {
"pile_set_name": "Enron Emails"
} |
---------------------- Forwarded by Thomas A Martin/HOU/ECT on 03/20/2001
03:46 PM ---------------------------
Thomas A Martin
10/20/2000 01:54 PM
To: Edward D Gottlob/HOU/ECT@ECT
cc:
Subject: Producer Pricing Meeting
---------------------- Forwarded by Thomas A Martin/HOU/ECT on 10/20/2000
01:50 PM ---------------------------
Saidia Matthews@ENRON
10/19/2000 11:16 AM
To: Edward D Gottlob/HOU/ECT@ECT, Barbara N Gray/HOU/ECT@ECT, Tom
Shelton/HOU/ECT@ECT, Steve HPL Schneider/HOU/ECT@ECT, Brian
Redmond/HOU/ECT@ECT, Thomas A Martin/HOU/ECT@ECT
cc: Laura Harder/Corp/Enron@Enron, Monica Jackson/Corp/Enron@ENRON, Lillian
Carroll/HOU/ECT@ECT, Melanie Facundo/HOU/ECT@ECT
Subject: Producer Pricing Meeting
The above has been requested to attend a Producer Pricing meeting on Oct.
30th at 2:00 p.m. to 3:00 p.m. EB3533, if for any reason you're unable to
attend please advise via email or call me at ext 5-3878.
Thank you,
Sy Matthews | {
"pile_set_name": "Enron Emails"
} |
Gerald,
Here is the template language with the corrections that we discussed that will applicable to all counterparties.
Judy | {
"pile_set_name": "Enron Emails"
} |
_______________________________________________________________
This message and any attachments are intended for the individual or entity
named above. If you are not the intended recipient, please do not read,
copy, use or disclose this communication to others; also please notify the
sender by replying to this message, and then delete it from your system.
Thank you.
_______________________________________________________________
Thanks for the responses on Gleason. Do you have a sense of when the
responses may be available to the environmental questions relating to all
facilities and the questions relating to LV Cogen I/II, Wheatland and
Lincoln? Thanks.
P.S. If you need it, my fax number is 312-782-8585. Thanks.
[email protected] on 10/24/2000 07:23:59 PM
Extension:
To: [email protected]
cc: [email protected], [email protected],
[email protected], "William F Henze"
<[email protected]>, "Michael F. Dolan" <[email protected]>
Subject: Re: Environmental Due Diligence Questions
Here are the answers to your questions. Please give us a call if you have
any more questions. Thanks
Ben
(See attached file: Allegheny Question and Answers - Gleason version2.doc)
(See attached file: Allegheny Question and Answers - Gleason version2.doc)
- Allegheny Question and Answers - Gleason version2.doc | {
"pile_set_name": "Enron Emails"
} |
If its not to difficult let's use the ISDA format. I can live with the other
language if need be. thanks jeff
From: Sara Shackleton on 02/16/2001 11:46 AM
To: Jeff Kinneman/HOU/ECT@ECT
cc:
Subject: Re: Bear Stearns "Securities Loan Agreement"
Jeff:
Do you have a preferance regarding the payment of "Default Interest"? Please
let me know.
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 02/16/2001 11:45 AM -----
Tanya Rohauer
02/16/2001 11:30 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Re: Bear Stearns "Securities Loan Agreement"
I think this is Kinneman's decision. To the extent that an agreement uses a
rate that may result in P&L when it is pulled out of the book, that is his
risk. Not too big of an issue from my perspective.
From: Sara Shackleton on 02/16/2001 09:22 AM
To: Tanya Rohauer/HOU/ECT@ECT
cc:
Subject: Bear Stearns "Securities Loan Agreement"
Tanya:
We finally agreed on the guaranty form (the cap is $25 million) and are about
ready to execute the actual agreement. I have one question: in the ISDA
world, we use "cost of funds plus 1%" as the default interest rate. The Bear
document provides:
"...interest thereon at a rate equal to (A) in the case of purchases of
Foreign Securities, LIBOR, (B) in the case of purchases of any other
securities (or other amounts, if any, due to Lender hereunder), the Federal
Funds Rate or (C) such other rate as may be specified in Schedule B, in each
case as such rate fluctuates from day to day, from the date of such purchase
until the date of payment of such excess."
What is your preference: Bear's standard language or do you want to specify
another rate?
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected] | {
"pile_set_name": "Enron Emails"
} |
----- Forwarded by Jeff Dasovich/NA/Enron on 07/18/2001 06:42 PM -----
JBennett <[email protected]>
07/18/2001 05:31 PM
To: "Harry Kingerski (E-mail)" <[email protected]>, "Jeff Dasovich
(E-mail)" <[email protected]>, "Jim Steffes (E-mail)"
<[email protected]>, "Sue Mara (E-mail)" <[email protected]>
cc:
Subject: FW: ACR Inviting Comment On DWR/CPUC Proposed Rate Agreement
Attached is an ACR issued today requesting comment on the Rate Agreement
reached by the CPUC and DWR (which I will send under separate cover). The
ACR highlights certain aspects of the Agreement and asks for parties to
evaluate the effects of the Agreement and indicate what they believe the
consequences of its adoption would be. Comments are due by August 1st.
The Agreement itself basically calls for DWR to set its revenue requirement
based on "Bond Related Costs" and "Operating Expenses" and for the
Commission to implement such revenue requirement. It is up to DWR to
determine whether the revenue requirement is just and reasonable prior to
submitting it to the Commission.
Please let me know if Enron is interested in Commenting on the Agreement.
Jeanne Bennett
-----Original Message-----
From: Wong, John S. [mailto:[email protected]]
Sent: Wednesday, July 18, 2001 10:11 AM
Subject: ACR Inviting Comment On DWR/CPUC Proposed Rate Agreement
Attached is an assigned Commissioner ruling (ACR) inviting comment on the
proposed rate agreement between the California Dept. of Water Resources and
the California Public Utilities Commission. Interested parties may file
comments with the Docket Office on or before August 1, 2001.
Please note that there are three attachments to the ACR. Attachment A, the
proposed rate agreement, is being forwarded to you as a separate PDF
document. Attachment B, the relevant Water Code sections, is contained in
the body of the attached Word document. Attachment C is the two page letter
from the DWR, the Dept. of Finance, and the Treasurer's Office to President
Lynch dated July 2, 2001. Attachment C was previously distributed to the
A.00-11-038 et al service list in the Chief ALJ's ruling dated July 5, 2001.
Today's ACR and all three of the attachments can also be accessed at the
CPUC's web site.
<<A0011038 Lynch Ruling.doc>>
John S. Wong
CPUC - ALJ
(415) 703-3130
- A0011038 Lynch Ruling.doc | {
"pile_set_name": "Enron Emails"
} |
I'll be there
-----Original Message-----
From: Cappelletto, Nella
Sent: Wednesday, July 25, 2001 5:39 PM
To: Borg, Jeff; Cowan, Mike; Davies, Derek; Devries, Paul; Disturnal, John; Hrap, Gerry; Kitagawa, Kyle; Lambie, Chris; Le Dain, Eric; Oh, Grant; Zufferli, John; Wilson, Jan
Cc: Doucet, Dawn; Huculiak, Lindsey; McCulloch, Angela
Subject: FW: Analyst and Associate Recruiting Meeting - Thursday, July 26th at 2:00 pm (Video Room #1)
Friendly reminder.
-----Original Message-----
From: Cappelletto, Nella
Sent: Monday, July 16, 2001 4:32 PM
To: Borg, Jeff; Cowan, Mike; Davies, Derek; Devries, Paul; Disturnal, John; Hrap, Gerry; Kitagawa, Kyle; Lambie, Chris; Le Dain, Eric; Oh, Grant; Wilson, Jan; Zufferli, John
Cc: Doucet, Dawn; Huculiak, Lindsey; McCulloch, Angela
Subject: Analyst and Associate Recruiting Meeting
Kindly confirm your availability to attend an Analyst and Associate Recruiting Meeting scheduled for Thursday, July 26th at 2:00 p.m. (4:00 p.m. Toronto time). This meeting should not take more than one hour. The Toronto office will be video conferenced in.
Regards, Nella | {
"pile_set_name": "Enron Emails"
} |
------------------------------------------------------------------------------
------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
April 20, 2001 5:00pm through April 23, 2001 12:00am
------------------------------------------------------------------------------
------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON NORTH AMERICAN LANS: SEE ORIGINAL REPORT
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: SEE ORIGINAL REPORT
MARKET DATA: No Scheduled Outages.
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS: ALSO SEE ORIGINAL REPORT
Impact: CORP
Time: Fri 4/20/2001 at 5:00:00 PM CT thru Mon 4/23/2001 at 8:00:00 AM CT
Fri 4/20/2001 at 3:00:00 PM PT thru Mon 4/23/2001 at 6:00:00 AM PT
Fri 4/20/2001 at 11:00:00 PM London thru Mon 4/23/2001 at 2:00:00 PM London
Outage: SysAdmiral Maintenance
Environments Impacted: SysAdmiral Users
Purpose: SysAdmiral terminal server icons on General Cluster will not be
available due to maintenance.
Once the maintenance is completed the icons will point to the new 2.3.11
production and development environments.
Backout: None
Contact(s): Rusty Cheves 713-345-3798
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: No Scheduled Outages
TERMINAL SERVER: No Scheduled Outages.
UNIFY: SEE ORIGINAL REPORT
------------------------------------------------------------------------------
-----------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC
(713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
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CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797 | {
"pile_set_name": "Enron Emails"
} |
Good point, but I'm comfortable we're covered because our bidders were all
bidding on a chunk of capacity and primary points. They are deemed to be on
notice that they had alternate point rights (its in the tariff) and if they
wanted to submit a bid that had a different rate for primaries and
alternates, they could have done so. None of them did, and most importantly,
the winning bidders did not. Our letter agreement simply memorializes that
we will charge the same negotiated rate whether the gas flows on primaries or
alternates. I assume from your message you are OK with this and they can get
it nailed down? DF
From: Mary Kay Miller 01/11/2001 02:49 PM
To: Susan Scott/ET&S/Enron@ENRON
cc: Jeffery Fawcett/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON, Michelle
Lokay/ET&S/Enron@Enron, Steven Harris/ET&S/Enron@ENRON, Drew Fossum@ENRON,
Glen Hass/ET&S/Enron@ENRON, Mary Darveaux/ET&S/Enron@ENRON, Shelley
Corman/ET&S/Enron@ENRON
Subject: Re: revised language
I just got done looking at the underlying contract language as set forth in
the pro forma service agreement in the tariff and it specifically says that
the max rate would apply unless a discount or negotiated rate has been agreed
to. My concern with adding the language below is, could it be argued that
not everyone knew the rate would or could apply at any point, since we just
stated Topack and Needles and if they knew they might have bid a different
rate??
Susan Scott
01/11/2001 02:42 PM
To: Jeffery Fawcett/ET&S/Enron@ENRON, TK Lohman/ET&S/Enron@ENRON, Michelle
Lokay/ET&S/Enron@Enron
cc: Steven Harris/ET&S/Enron@ENRON, Drew Fossum@ENRON, Mary Kay
Miller/ET&S/Enron@ENRON, Glen Hass/ET&S/Enron@ENRON
Subject: revised language
After discussions with the commercial group I propose that that redlined
language be added to the attached Dynegy agreement and to the 4 other
negotiated rate agreements we've done. If there are any objections you need
to get back to me ASAP. | {
"pile_set_name": "Enron Emails"
} |
I just received another voice mail from Teresa, indicating that she would like to tell A&K yes. The idea would be that the firm would get the employees to agree that if a dispute arises in the future, the A&K lawyers would not represent either side.
That would address the future litigation issue, though probably not the other issues.
--Lizzette | {
"pile_set_name": "Enron Emails"
} |
The State Governor Asks Generators to Take Less Than They're Owed Power:
Meeting with firms, Davis says that settling for 70% of debt would help
Edison stay solvent. One executive bristles.
Los Angeles Times, 05/10/01
US AND CANADA: Few US business chiefs see recession ahead White Sulphur
Springs Financial Times; May 10, 2001
Abreast of the Market
Dow Industrials, Nasdaq Decline; Cisco Helps Weaken Tech Issues
The Wall Street Journal, 05/10/01
INDIA: Enron prepares to move execs out of India - paper.
Reuters English News Service, 05/10/01
India: A rational renegotiation plan
Business Line (The Hindu), 05/10/01
India: Centre to back Maharashtra on tariff talks with Enron
Business Line (The Hindu), 05/10/01
Centre asks IDBI to seek legal advice on DPC
Business Standard, 05/10/01
USA: CEOs urge major moves to deal with energy crisis.
Reuters English News Service, 05/09/01
USA: INTERVIEW-Enron CEO sees gasoline prices staying high.
Reuters English News Service, 05/09/01
SMARTMONEY.COM: Power Surge
Dow Jones News Service, 05/09/01
India: No To Guarantees For Enron Power Project -Report
Dow Jones International News, 05/09/01
N American Newsprint: Publishers Hold Large Inventories
Dow Jones Commodities Service, 05/09/01
California; Metro Desk
The State Governor Asks Generators to Take Less Than They're Owed Power:
Meeting with firms, Davis says that settling for 70% of debt would help
Edison stay solvent. One executive bristles.
DAN MORAIN
TIMES STAFF WRITER
05/10/2001
Los Angeles Times
Home Edition
B-8
Copyright 2001 / The Times Mirror Company
SACRAMENTO -- After spending months bashing independent power generators,
Gov. Gray Davis on Wednesday called on them to take 30% less than the $1.2
billion they are owed by Southern California Edison.
"The Legislature [is] going to insist on a reduction," Davis said after a
meeting in his office with representatives of a dozen power generating
companies. Davis said he told them that "70% this year was more valuable to
them than whatever they get two or three years down the line" if Edison is
forced into bankruptcy.
Davis urged generators to help California extricate itself from a summer of
rolling blackouts by selling every available electron to the state.
He held out the possibility that he might sign legislation imposing a
windfall profits tax on generators if they fail to help out this summer.
"My attitude on that would depend a lot on whether they showed good faith and
cooperated throughout this process," Davis said, emerging after a four-hour,
closed-door meeting with the generators.
The Democratic governor issued an invitation last week to the chief executive
officers of power generating and marketing companies including Enron,
Reliant, Duke Energy and others to meet with him in Sacramento. But most of
the executives who attended were a few pay grades below CEO.
Davis said he urged that the executives press lawmakers to approve the deal
he struck with Edison in which the state would give the ailing utility an
infusion of cash by buying its transmission system for $2.76 billion. Edison
would use the money to restructure its debt and pay its creditors.
Davis said lawmakers will not approve the deal unless the independent power
generators take less than they are owed.
He noted that the state and the power generators have "a collective interest
in seeing that this summer has as few disruptions as possible." If California
is hit with repeated blackouts, Davis has said, other states will delay or
end efforts to deregulate their electricity markets.
Executives, who braved taunts from a few protesters wearing pig masks and
carrying a small but loudly squealing pig, characterized the meeting as
businesslike. But at least some generators are less than enthusiastic about
taking less than they are owed.
"I have a real concern about the notion that we should give back some of the
money we made," said John Stout, a senior vice president of the Houston-based
Reliant Energy, which says it is owed $300 million by Southern California
Edison and Pacific Gas & Electric.
Stout said that much of the money Reliant made in California is being
reinvested in power plant construction--although he added that the company
has no generators under construction in California.
"Political uncertainty has put a huge risk factor on investment in
California," Stout said.
Randy Harrison, an executive with Mirant, based in Atlanta, said the issue of
a so-called "haircut" was discussed, though not in detail. Harrison said it
is "not completely off the table." But he added that his company is not
profiteering. Nor has it withheld electricity in any attempt to manipulate
wholesale energy prices.
"Our people are working 24 hours a day and we are spending millions of
dollars to try and keep our power plants up and running," Harrison said.
The meeting was aimed at opening communication with the generators. But Davis
aides said the governor also wanted to bring attention to companies that he
believes are at least partly responsible for California's energy crisis.
The meeting occurred as polls show that voters are increasingly angry about
the energy crisis and as lawmakers, fearful that the energy crisis will wreck
California's economy, sharpen their attacks on power generators.
Legislators have introduced bills to impose a windfall profits tax on
generators and make it a felony to manipulate electricity markets. Lt. Gov.
Cruz Bustamante and Assemblywoman Barbara Matthews (D-Tracy) sued several
generators last week. Atty. Gen. Bill Lockyer is investigating whether
generators violated antitrust and other laws as wholesale prices soared to
record heights, hobbling Edison and helping push PG&E into bankruptcy.
Voters are not sure who is to blame, but they are convinced that "whoever is
taking our money is taking way too much," said Democratic political
consultant Richie Ross.
"They want to find this deregulation's Charles Keating," Ross said, referring
to a central figure in the 1980s savings and loan debacle.
Still, as much as Davis and others demonize generators, the state needs them,
some officials say.
"We don't have enough power without them," said Assembly Energy Committee
Chairman Roderick Wright (D-Los Angeles). "There needs to be an adult
discussion to see what can be worked out."
PHOTO: CHP Officer Stacey Brashares holds a pig taken from protesters outside
the Capitol, where Gov. Gray Davis was meeting with executives of power
generating companies. Masks worn by the protesters carry the names of some of
the companies.; ; PHOTOGRAPHER: ROBERT DURELL / Los Angeles Times; PHOTO:
Gov. Gray Davis, after a meeting in his office with representatives of a
dozen power generating companies.; ; PHOTOGRAPHER: Associated Press
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
US AND CANADA: Few US business chiefs see recession ahead White Sulphur
Springs Financial Times; May 10, 2001
By PERONET DESPEIGNES and ANDREW HILL
Only 11 per cent of chief executives at the largest US companies believe the
country is heading for a recession this year, according to a survey released
yesterday, but most agree 2001 will be at best a year of sluggish growth.
The survey was published to coincide with the spring meeting of the Business
Council, an association of chief executives from many of the largest US
companies.
Bill Harrison, president and chief executive of JP Morgan Chase, the banking
group, said the survey reflected "substantial uncertainty and difference of
opinion" about the potential length and depth of the slowdown.
Business leaders also appeared divided about the role of the Federal Reserve.
The chief executives listed the Fed's interest rate increases as the most
important cause of the US economic slowdown, but they also gave credit to the
central bank for staving off recession by easing monetary policy this year.
The Business Council survey released at last October's meeting was an early
indicator of corporate America's growing concern about the US economic
outlook.
Yesterday's report indicated nearly three quarters of US business leaders
expected growth to improve in 2002, but of those who responded, 70 per cent
expected growth in output this year of between 0 and 1.5 per cent. Some 19
per cent predicted economic growth of 1.5 per cent to 3.5 per cent, and only
11 per cent predicted a US recession.
The business leaders also remained pessimistic about growth outside the US.
The survey found they expected 1-2.5 per cent growth in the euro-zone this
year, down from 3.4 per cent in 2000, and growth of 0 to 1 per cent in Japan,
compared with 1.7 per cent last year.
There was, however, optimism about the potential for continued productivity
improvements. "The wide majority of respondents expect that the current pace
of productivity growth can and will be maintained," said Mr Harrison,
vice-chairman of the council.
Economic data released on Monday showed US workers' productivity slipped in
the first three months of this year, but Mr Harrison said it would be wrong
to overreact to data from one quarter.
More than 80 current and former chairmen and chief executives are expected to
attend the Business Council sessions today and tomorrow at the Greenbrier
resort hotel in West Virginia.
One of the hottest topics will be the US energy crisis. Scott McNealy of Sun
Microsystems, the computer group, and Ken Lay, chairman of Enron, the energy
group, criticised the sluggishness with which California had reacted to the
problems.
Mr McNealy said it was time to make "trade-offs on the environmental front",
including reconsidering the use of nuclear power.
* One of the most prominent groups of US economists remains "steadfast" in
its belief that a US recession is unlikely, Peronet Despeignes writes in
Washington. The National Association of Business Economics said in its latest
quarterly economic outlook, based on a survey of 27 members, that interest
rate cuts by the Fed would sustain economic growth. The chance of a recession
was put at 35 per cent, and most panellists agreed any recession would likely
be "milder than the usual post-World War II recession".
The group maintained its forecast for economic growth of 2 per cent in 2001,
but lowered its forecast for 2002 to 3.1 per cent from 3.5 per cent. The
panel also expected inflation of 3 per cent in 2001 and 2.5 per cent in 2002.
The group reversed its previous criticism of monetary policy as "too tight",
deeming the Fed's current conduct "just right".
Most panellists attributed the slowdown to a "classic inventory correction",
the Fed's monetary tightening, which ended a year ago, and the drop in stock
prices since March of last year.
Copyright: The Financial Times Limited
Abreast of the Market
Dow Industrials, Nasdaq Decline; Cisco Helps Weaken Tech Issues
By Robert O'Brien
Dow Jones Newswires
05/10/2001
The Wall Street Journal
C2
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -- Disappointment with Cisco Systems' earnings statement weakened
technology issues exposed to the telecommunications-gear business, but
without causing any fallout in the rest of the market.
Cisco itself declined $1.25, a loss of 6%, to $19.09 at 4 p.m. in Nasdaq
Stock Market trading, after the company, the leading maker of
Internet-switching equipment, came through late Tuesday with fiscal
third-quarter results that closely tracked the forecast the company offered
last month. Meanwhile, the commentary accompanying the profit statement
didn't do anything to stimulate hope for a pickup in the moribund
telecom-equipment market.
Shares in makers of the communications chips used in Cisco's networking
products declined sharply, with PMC-Sierra falling 3.99 to 40.11, while
Conexant Systems declined 1.33 to 9.87, and Broadcom dropped 4.29 to 40.24,
all on Nasdaq.
Some of the enterprise networking products also came undone, with Extreme
Networks falling 2.16 to 32.49 on Nasdaq. Makers of rival communications
technologies also took a spill. Juniper Networks declined 1.53 to 57.37,
while Ciena dropped 1.06 to 60.54, both on Nasdaq.
"Cisco's results put further scrutiny on the earnings and revenue projections
of related companies as we look ahead to second-quarter results," said Brian
Belski, fundamental market strategist at U.S. Bancorp Piper Jaffray. "But on
a relative basis, the market held in there."
The Nasdaq Composite Index, suffering from the Cisco fallout, declined 42.14,
or 1.9%, to end at 2156.63. But the Dow Jones Industrial Average acquitted
itself nicely, keeping its loss to 16.53, or 0.15%, to finish at 10866.98.
Investors adopted a somewhat defensive posture in the face of the weakness in
technology, gravitating toward areas that aren't especially sensitive to
economic trends, or toward sectors where profit growth looks dependable.
Shares of Procter & Gamble, for example, moved up 1.69 to 66.19, one of the
better moves by consumer-product stocks, which generally aren't sensitive to
economic weakness.
Utilities also proved popular. Duke Energy gained 1.87 to 45.84, Public
Service Enterprise Group advanced 1.08 to 46.20, and Enron climbed 3.09 to
59.20. The Dow Jones Utility Average increased 5, or 1.3%, to 383.74.
Energy stocks rose briskly, after weekly inventory data released late Tuesday
tamped down some of the concerns about increasing reserves stoked by reports
last week. Chevron gained 1.63 to 95.43, Texaco added 1.28 to 71.10, and
Exxon Mobil moved ahead 98 cents to 89.72. Oil-services and equipment
providers, which have been in a funk, recovered nicely, with Schlumberger
gaining 1.14 to 62.95, Halliburton advancing 1.28 to 42.51, and B.J. Services
improving 1.39 to 75.90.
Maxim Integrated Products (Nasdaq) fell 2.51 to 49.49. The Sunnyvale, Calif.,
maker of analog circuits posted fiscal third-quarter results late Tuesday
that matched Wall Street's projections, but also gave details about the
expected decline in its revenue and earnings in the fourth quarter. Lehman
Brothers, which had forecast weak guidance, said in a research note that it
remains cautious about the company's outlook.
Other integrated circuit makers also declined in the session, with Linear
Technology falling 2.38 to 48.04, while Analog Devices fell 1.61 to 46.35.
Chip maker National Semiconductor lowered its fiscal fourth-quarter earnings
forecasts, and announced plans to cut 10% of its work force, but the stock
made up intraday weakness, finishing unchanged at $25.
Exodus Communications (Nasdaq) fell 69 cents to 9.43. The Santa Clara,
Calif., provider of Internet hosting services said it planned to cut 15% of
its work force as part of an effort to cut costs.
WorldCom (Nasdaq) inched up 31 cents to 18.29. UBS Warburg reiterated its
strong buy rating on the Clinton, Miss., telecommunications service provider,
saying that the company's recent bond offering, which has been a drag on its
share price, won't have much, if any, impact on its ability to live up to
earnings forecasts.
Verizon Communications sagged 1.78 to 53.82. The telecommunications service
concern unveiled one of the largest convertible debt issues ever, a $3
billion offering of zero-coupon notes.
Johnson & Johnson gained 30 cents to 98.25. The New Brunswick, N.J.,
medical-products concern said it is in discussions about acquiring Inverness
Medical Technology's diabetes-care product operations for about $1.3 billion
in stock.
Sepracor (Nasdaq) gained 3.49 to 30.49. The Marlborough, Mass., specialty
drug maker said the Food and Drug Administration accepted for review its
capsule-form version of Soltara, an allergy-relief treatment.
Willamette Industries moved up 19 cents to 48.75. The Portland, Ore., lumber
and paper-products concern rejected Weyerhaeuser's sweetened takeover bid of
$50 a share, calling the offer inadequate. Weyerhaeuser, Federal Way, Wash.,
eased 15 cents to 56.22.
Northrop Grumman fell 3.50 to 88. The Los Angeles defense contractor made an
unsolicited bid to buy rival Newport News Shipbuilding for $67.50 a share, or
$2.1 billion, in cash and stock. Newport News added four cents to 65.04.
General Dynamics, which had previously agreed to buy Newport News for the
same price, fell 15 cents to 78.15.
Shares of several other aerospace and defense contractors moved higher in the
session, after Credit Suisse First Boston sketched the benefits to the group
from some of the Bush administration's prospective military-spending
initiatives. TRW added 2.05 to 40.20, Boeing rose 54 cents to $65, and
Raytheon advanced 35 cents to 29.46.
Alliant Techsystems, another name in the group identified by Credit Suisse
First Boston as benefiting from military spending, fell 2.50 to 95.50, even
though the Minneapolis aerospace and defense concern's fiscal fourth-quarter
earnings topped Wall Street's profit forecasts.
Forest Laboratories moved ahead 2.88 to 62.21 following some upbeat comments
from Thomas Weisel Partners.
Triad Hospitals fell 2.45 to 24.70. Lehman Brothers cut its rating on the
Dallas hospital operator, citing concerns about the recent acquisition of
Quorum Health Group.
Circuit City dropped 97 cents to 13.55, after Lehman Brothers in a research
note offered some cautious comments about the valuation of the Richmond, Va.,
consumer-electronics retailer.
Spinnaker Exploration gained 3.55 to 40.50. Credit Suisse First Boston, which
had cut its rating on the Houston natural-gas concern last month, returned
its strong buy rating on the stock.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
INDIA: Enron prepares to move execs out of India - paper.
05/10/2001
Reuters English News Service
(C) Reuters Limited 2001.
BOMBAY, May 10 (Reuters) - U.S. energy giant Enron Corp has begun a process
of relocating executives overseeing its controversy-wracked $2.9 billion
power project in India, an Indian financial daily said on Thursday.
The Economic Times said company sources, which it did not name, said the
Houston-based company was preparing to offer its dozen managers in India a
choice of transfering elsewhere or accepting a lump sum to retire.
"Unfortunately, the company could not pursue its projects in India, and has
decided to fold up its operations in the country," the newspaper quoted an
unnamed Enron official as saying.
The report also said: "The whole process of relocating the Indian staff is
expected to be completed within a month or two."
An Enron spokesman declined comment, saying it was company policy not to
comment on administrative and personnel matters.
On Wednesday another domestic daily, the Times of India, reported that the
families of executives overseeing Enron's troubled Dabhol Power Company (DPC)
project in India were leaving the country.
It said the children of Enron executives had been pulled out of the American
School in Bombay as their families were being relocated to Singapore.
It also said security around the expatriate executives had been tightened,
and personal bodyguards assigned to senior executives, because "there is
likely to be a tremendous backlash" if the project is terminated, causing the
loss of 15,000 jobs.
The Economic Times report on Thursday noted that Enron had already pulled out
of all the other projects in India in which it once planned to invest.
Metgas, which was to build a liquefied natural gas pipeline in the state of
Maharashtra, and Enron Broadband Solutions, which was to lay an optic fibre
cable network across the country, have virtually folded up operations, the
newspaper said.
"The other group company, Enron Oil & Gas (India), which is a joint venture
between Reliance and ONGC, is currently in the process of selling its stake,"
it added.
Enron has also scrapped plans to invest in other power projects in India, due
to financial problems encountered by its nearly complete 2,184 MW power plant
south of Bombay.
The project is mired in controversy after the Maharashtra State Electricity
Board (MSEB) reneged on its commitment to buy all the power produced by the
giant plant, saying it is too costly.
MSEB has also defaulted on monthly payments to DPC for the electricity it has
taken, forcing the company's board last month to authorise the management to
terminate the contract.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
India: A rational renegotiation plan
05/10/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire
Separating the LNG project from the power project would reduce the tariffs
for the latter, but not remove the financial hurdles for the State and the
Centre. They would continue to pay more for the LNG project and guarantee its
loans. DPC is now recovering the cost of the LNG project from the power
project. Therefore, the mere segregation of the LNG project without
readjusting the PPA or delinking the sovereign guarantee obligations would
only help DPC and not the people of Maharashtra, says S. Padmanabhan.
THE MAHARASHTRA Government recently announced its plans to renegotiate the
Enron-promoted Dabhol power project. In this connection, Mr R. K. Pachouri, a
committee member appointed for the renegotiation, outlined the priorities of
the project in a television interview:
- To reduce the interest rate for the project debt of DPC to be in line with
the current market trends;
- To achieve higher output and identify power purchasers outside Maharashtra;
and
- To separate the LNG project from the power project.
A business daily on May 2 reported that Indian Oil plans to supply 1.2
million tonnes of naphtha to DPC at around the international price of $290 a
tonne, including sales tax of 16-18 per cent per tonne.
The report indicates that DPC has requested the Maharashtra Government to
waive the sales tax so that the reduction in the sales tax can be passed on
to the consumers.
Similar news reports on the project have started appearing in both the print
and visual media. These indicate that the State Government and the DPC
management seem to have come to an understanding on the broad principles of
renegotiation and both are in the process of educating the public about the
benefits these various measures would bring to the project.
No doubt, these steps would bring down the tariff. But, then, the reduction
will be due to concessions and subsidies offered by the State and the
financial institutions by way of waiver of sales tax and reduction in
interest rate. It appears that DPC will not offer any reduction or concession
offered in the tariff or the rate of returns.
Reduction in project debt: When the DPC loans were sanctioned, the prime
lending rate was around 14 per cent and the power projects were offered loans
at 3-3.5 per cent over the PLR. Now the PLR is around 12.5 per cent and the
interest rates for the power sector will be 15-15.5 per cent. Effectively,
there would be a reduction of around 1.5-2 per cent in the interest rate.
However, it must be noted that the same refinancing opportunity is good for
every other Indian project.
If the Centre permits refinancing for DPC, it should permit projects in other
States as well to be refinanced. If it does, that will be at a considerable
loss to the FIs such as the IDBI, the IFCI and the ICICI.
To achieve higher output and identify power purchasers outside Maharashtra:
This is not a tariff- reduction exercise. In fact, this would help DPC
improve its profits and cash flows under the present PPA. DPC has a single-
point tariff which consists of a fixed and a variable charge. Higher the
output the DPC recovers, higher the fixed charges and higher the profits.
Thus, without any significant changes in the existing PPA, this step would
help DPC, and put more States in trouble.
Perhaps, the renegotiating committee wants other States to sink as well with
Maharashtra.
To separate the LNG project from the power project: This is a welcome step.
While it would reduce the tariff for the power project, it would not remove
the financial hurdles for the State and the Centre, which would continue to
be paying more for the LNG project and guaranteeing the loans of the LNG
project. DPC is now recovering all the cost of the LNG project from the
Dabhol project, which will consume only around 2.5 million tonnes of LNG,
whereas the capacity of the LNG project is being upgraded to five million
tonnes. Therefore, the mere segregation of the LNG project without
readjusting the PPA or delinking the sovereign guarantee obligations does not
serve the purpose. It would help DPC and not the people of Maharashtra.
To exempt sales tax on naphtha: This is like robbing Peter to pay Paul. As
IOC suggested, if $290 is the price of naphtha per tonne, it works out to Rs
13,630 (one $ = Rs 47). Given that DPC gets paid fuel cost per kWh at 2,000
kcal (heat rate) and the naphtha has a heat value of 11,000 kcal, one tonne
of the fuel will give DPC fuel price for 5,500 kWh, that is at the rate of Rs
2.48 per kWh for naphtha.
If sales tax of 16 per cent is exempted from this price, the naphtha price
drops to Rs 11,750 and the per kWh fuel price for DPC drops to Rs 2.14 from
Rs 2.48. IOC expects to supply 1.2 million tonnes of naphtha for producing
6,600 million kWh and the sales tax exemption effect will be Rs 225 crore
(0.34 per kWh).
What is DPC's contribution in this reduction? On the same account, every
power project would seek to reduce the sales tax on the fuel they use.
Remember that if the State sacrifices revenue in one area, it will recover
the loss through some other taxes. When the current trend is to remove
subsidies in all the sectors, the State and the renegotiating committee are
opening up new subsidies to support DPC.
An alternative
The renegotiating committee should reduce the real tariffs from DPC's fixed
costs, rather than making cosmetic changes in the taxation structure.
The following steps are needed:
- To remove the corporate veil protecting the DPC project documents:
The public at large are paying for the revenues of DPC and no government can
have the right to keep a veil of secrecy on the documents. This will help the
public at large and the experts in the industry understand the implications
and suggest viable alternatives.
- To change DPC tariff formula from a single-part to two-part tariff:
The Centre has a two-part tariff policy which stipulates recovery of fixed
cost under certain circumstances. The most critical issue of this policy is
the recovery of all fixed costs at a capacity utilisation (PLF) at 75 per
cent. DPC has adopted a single part tariff system where the fixed costs are
paid for all capacities and, thus the return of DPC increases as the capacity
utilisation rises. While this method may promote efficiency, DPC has tied the
State in tight knots with this higher capacity utilisation and, will make
very high levels of profits. Therefore, it is essential that the single-part
tariff is renegotiated at lower levels or better still scrapped and two-part
tariff adopted.
Renegotiating the station heat rate: DPC has a station heat rate of 2000 kcal
per kWh. Thus, for every unit of electricity it produces the fuel - naphtha -
it is reimbursed to DPC at the rate of 2,000 kcal per kWh. At $290 per tonne
(Rs 13,630 at one $ = Rs 47) of IOC price this works out to Rs 2.48 per kWh.
DPC uses GE 9FA machines-gas turbines which burn naphtha at around 1,700 kcal
per kWh. In other words, DPC uses 1,700 kcal of naphtha and gets paid for
2,000 kcal.
Thus, it spends Rs 2.11 per kWh on fuel but gets paid Rs 2.48 per kWh, making
a profit of Rs 0.37 for every kWh. On 2,100 MW at 80 per cent capacity, this
is a whopping Rs 550 crore. While there may be technical grounds to pay at a
level higher than 1,700 kcal due to considerations of part load, there is no
justification for paying at 2,000 kcal. In fact, the Centre and the CEA as
well as other States have been successfully forcing all power producers to
reduce from the 2,000 kcal levels while Maharashtra has not been able to do
this.
This is a key issue in negotiations.
To source naphtha only from domestic sources: India has a surplus of naphtha
as of now and there is no need to import it. DPC should be forced to buy fuel
only from domestic sources so that the profits remain with domestic
companies, and not allow DPC to make higher profits of fuel handling.
What if renegotiation fails?
DPC will not agree to changes in the PPA as it would feel that it is a signed
and sealed document. Maharashtra may look at cosmetic changes, and may make
sacrifices to reduce the tariff. But in the long run, the contract will run
aground because of the inability of the State Government to use and pay for
the power produced by DPC.
Given the background of Enron worldwide, it would press ahead with its
perceived advantages - legal and contractual. It is better for the State to
ready a back-up action plan. The following line of action is suggested:
- To terminate the PPA and other project contracts and give notice to Enron
to wind up operations;
- To inform the lenders, the beneficiaries of the sovereign guarantee, that
the Centre will pay up its commitments. Perhaps, this may involve setting up
an escrow account and placing sufficient debt reserve funds that the lenders
may request, pending final payments;
- To quickly move towards an arbitration process primarily to d etermine the
amounts payable to Enron towards contract termination;
- To initiate an international competitive tendering process, with the
permission of the lenders, to sell the power project and the LNG terminal as
independent projects - the process should also permit bids from Indian
companies;
- To make a serious effort to complete the bid finalisation and selection of
the successful bidder in two-three months;
- The bidding process should have two parameters for the bidders to quote:
a) tariff payable to the bidder for the next 20 years (in the case of LNG
terminal - price of gas on long term basis);
b) price for the assets;
c) The bid would attract several international power players including
American companies for the power and the LNG projects and the bids offered
will be attractive. Also Indian companies or consortia would line up for the
bid;
d) Simultaneous with this exercise, as soon as determination of amounts
payable to Enron becomes clear, to place the funds so determined and accepted
with an escrow agent acceptable to Enron;
e) To set up an investigating team to go into the approval process to
determine whether there has been any corrupt practice in the process of
granting approvals. There is a Supreme Court case (filed by CITU) pending
decision on charges of corruption. The investigating team to focus, with the
cooperation of the US Government, on the issues relating to Foreign Corrupt
Practices Act (FCPA) of the US. Violation of the FCPA by any American
corporate is a serious issue attracting criminal prosecution. There can be a
time bound investigation;
f) To proceed with the prosecution of all people concerned if found guilty -
if Enron is found guilty the compensations may not be payable and the US law
agencies will step in to prosecute Enron;
j) If Enron is not found guilty, to pay the monies due to it by releasing the
amounts in escrow. By this time the asset takeover and the debt repayment
issues would have been resolved;
k) Conservatively, it is believed that there would be an ultimate gap of
$1,000 million (Rs 4,700 crore at one $ = Rs 47) after the assets are sold
and debts transferred to the new owners. It is suggested that the State float
a public debt issue for paying this to Enron and levy an 'Enron Cess' to
recover the loss and repay the debt issue over the next 15-20 years. At a
return of 10 per cent per annum on Rs 4,700 crore over the next 15 years and
assuming that 100 per cent of the loss is recovered from the 2,100 MW project
and assuming an 80 per cent PLF, the 'Enron Cess' per kWh of energy produced
will be Rs 0.42.
But will the Central and State governments have the political will to force
this issue?
(The author is a power-finance consultant.)
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
India: Centre to back Maharashtra on tariff talks with Enron
Our Bureau
05/10/2001
Business Line (The Hindu)
Copyright (C) 2001 Kasturi & Sons Ltd (KSL); Source: World Reporter (TM) -
Asia Intelligence Wire
BANGALORE, May 9. THE Centre has conveyed that it would support the
Maharashtra Government on the contentious issue of tariff renegotiations with
Enron for power purchase from Dabhol Power Company (DPC).
Talking to newspersons here on Wednesday, the Union Minister for Power, Mr
Suresh Prabhu, said the Centre had already appointed the Solicitor-General of
India as its nominee in the panel set up by the Maharashtra State Government
headed by Mr Madhav Godbole to renegotiate the terms of the power purchase
agreement. Enron's executives were due to meet the panel on May 11 in this
connection, he added.
Replying to questions on Enron's proposals to exit from DPC, he said that
neither the Maharashtra Government nor Enron had conveyed their desire to
exit from DPC. "We will support the State Government," he emphasised. He said
that the Centre was not in a position to intervene in the matter since it was
for Enron to take a decision on the issue.
However, the Centre's counter guarantee liabilities in DPC would be confined
to the extent of the State Government's payment defaults.
Earlier speaking at the inauguration of CII institute of quality, he said
that the Centre's new focus was on conservation of power rather than adding
fresh capacity.
The Karnataka Chief Minister, Mr S.M. Krishna, who was also present, said
that WTO's impact on the agriculture sector needed to be addressed and said
that the Prime Minister should call a meeting of the Chief Ministers to
discuss the outcome of the WTO and future steps that needed to be taken.
He added that the Congress had initiated reforms - liberalisation and
globalisation - and there was no intention of retreating on them.
However, it was necessary to have a mid-term appraisal on them. Dr K.
Kasturirangan, Chairman, Indian Space Research Organisation said, "Behind
every successful company is a quality culture, and that in the unforgiving
environment of space strict quality awareness was very essential and any
violation would mean that we have to pay heavily in space."
He added that space had given to the world configuration, control and
management and in the Rs 1,000 crore GSLV programme, over 10,000 computer
simulations had been done in th last six-seven years, before it was
considered flight worthy.
Almost 1000 major reviews were done and input collected not only from senior
engineers, but from youngsters too, "as their minds are fresh.
We worked towards transparency and fairly and frankly exchanged ideas.
Around half a million a A-4 size papers documentation was done on the
programme," he added.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
Centre asks IDBI to seek legal advice on DPC
Our Regional Bureau New Delhi
05/10/2001
Business Standard
3
Copyright (c) Business Standard
The Centre has asked the Industrial Development Bank of India (IDBI) to seek
legal advice on the letter issued by the international lenders to Enron
seeking a series of demands from the Maharashtra and central government.
In a communication to the financial institution, the finance ministry has
said that a decision to provide escrow cover and increase the limit under
letter of credit to Dabhol Power Company as per the demand of the energy
major's global and domestic lenders last week, can only be taken after
considering all the relevant issues.
In the reply, also sent to the Maharashtra government, the ministry has also
referred to the state government's refusal to tow the line on the demands put
forward by the lenders in a letter to the finance secretary, Ajit Kumar.
The lenders to Enron including ABN-Amro, Credit Suisse First Boston, Citibank
N A, ANZ Export Finance Ltd and Banc Of America had asked for payment of the
disputed Rs 213 crore towards December and January bills plus an escrow cover
and an increase in the letter of credit amount.
It had also asked the Centre to honour the counter guarantees and its
obligations in the power purchase agreement.
Meanwhile, the state yesterday appointed Singapore-based lawyer Quentin Loh
as its representative for the three arbitration cases and MSEB would be
represented by former Bombay High Court judge ML Pendse.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: CEOs urge major moves to deal with energy crisis.
By Jeremy Pelofsky
05/09/2001
Reuters English News Service
(C) Reuters Limited 2001.
WHITE SULPHUR SPRINGS, W.Va., May 9 (Reuters) - In fear of the unpredictable
power outages in California, Scott McNealy, the chief executive at computer
giant Sun Microsystems Inc. , has resorted to carrying a flashlight with him
at all times.
Plus, the network computer maker will be $8 million to $9 million over the
annual budget for its facilities in California because of high energy costs,
he said Wednesday at the chief executive summit known as the Business Council.
"I don't know about you but I carry a flashlight everywhere I go," McNealy
said. "We've got third world power out there."
California's summer of blackouts could cost its economy almost $22 billion in
lost productivity and chop as many as 135,000 jobs in the state, according to
an industry association study released Wednesday.
With energy prices expected to soar as the year progresses, the executives
surveyed by the Business Council, an association of corporate executives,
urged further liberalization of the energy market and sought new incentives
for exploration.
"Consensus expectations are for higher petroleum and electricity costs over
the balance of this year," said J.P. Morgan Chase & Co. Inc. executive
William Harrison.
The blackouts - the most visible result of an energy crisis caused by
California's disastrous 1996 experiment with power market deregulation - are
forecast to continue through the summer as warm temperatures keep air
conditioning demand high.
The industry groups that commissioned the study hope to use it to campaign
against a new, tiered power rate structure being considered by the California
Public Utilities Commission (CPUC), which they claim will pass too much of
the burden of paying for California's energy crisis on to industrial
customers.
That rate proposal, officially put forward Wednesday, would slap residential
customers who use the most electricity with average rate hikes of between 35
and 40 percent, while industrial users could face rate hikes of 50 percent or
more.
Kenneth Lay, chairman of Enron Corp. , the biggest buyer and seller of
electricity in North America, said California could pay from $50 billion to
$80 billion this summer for electricity.
"The biggest impact will be the disruptions in that economy if in fact we
have a normally warm or even warmer than normal summer," Lay said. "There's
still a lot of things that have to be done."
He said there has to be a complete plan to solving the crisis and the longer
the state waits, the more money that will be paid out. Lay also urged for
more steps to promote energy conservation.
"I think it's a very solvable problem, it just cannot be solved without some
pain," Lay said. "Finally they're raising rates ... and at least correcting
some of the problems."
Sun's McNealy said there must also be another look at building nuclear power
plants.
In the meantime, he quipped that while Palo Alto, Calif.-based Sun has a
dress code requiring employees to come to work in clothes, that may change.
"We're thinking of backing that off a bit or even encouraging people to wear
shorts because we're cranking up the thermostats," he said.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: INTERVIEW-Enron CEO sees gasoline prices staying high.
05/09/2001
Reuters English News Service
(C) Reuters Limited 2001.
WHITE SULPHUR SPRINGS, W.Va., May 9 (Reuters) - Consumers will not likely get
any relief at the gas pumps this summer but prices are not expected to hit $3
a gallon as some have forecast, Enron Corp. Chairman Kenneth Lay told Reuters
on Wednesday.
Gasoline inventories have been rising in recent weeks, more than was
expected, which could hold prices from skyrocketing, Lay told Reuters in an
interview on the sidelines of the annual meeting of the Business Council in
the mountains of West Virginia.
"Hopefully they will not go up as much as people feared," he said, adding
that he "would not be surprised if they go up a little bit."
The Energy Information Agency said the national retail gasoline price hit a
new record high of $1.70 a gallon on Monday and could climb to $1.75 this
summer with demand expected to grow despite the increase.
EIA warned that current gasoline inventories, which have risen recently but
remain below historical levels, set the stage for fuel supply disruptions
that could result in price spikes this summer.
Lay said that holding down summer gas prices will largely depend on whether
there are any disruptions at refineries across the country and the flow of
imports from abroad.
"But with normal refinery runs, and imports and all the rest of it, hopefully
the market will not get too far out of balance," he said.
"We'll probably not see much softness in the gasoline prices either until
back in the fall some time," Lay said.
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
SMARTMONEY.COM: Power Surge
By Roben Farzad
05/09/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Talk about vindication. In the late 1990s, when tech
was shooting through the roof, no one wanted to waste their time in the
greasy, sweaty world of oil and gas stocks. The fact that energy prices were
touching multiyear lows at the time didn't help. In those days, being an
energy analyst was the loneliest of callings.
Needless to say, things have changed. Last year, power shortages and record
oil and gas prices sent the once forsaken group of energy stocks soaring
while investors ran screaming from the likes of Cisco Systems (CSCO), Intel
(INTC) and the B2B flavor of the month. Suddenly, energy experts were the
life of the party.
So dramatic was the rotation that unearthing value plays has become
difficult. The Dow Jones U.S. Energy Index, for example, is up 18% in the
last year, while the American Stock Exchange Natural Gas Index has soared 33%
- compared with the Standard & Poor's 500's 12% drop.
But that doesn't mean finding underappreciated stocks is impossible. It just
takes some, well, drilling down.
Start with Houston-based fuel exploration and producer Apache (APA), a
SmartMoney.com favorite stubbornly trading at a 21% discount to its 52-week
high of $74 set last December. In March, Robert Hunter noted that natural-gas
prices would likely continue to spike into 2001 even after quadrupling
between 1999 and 2000. So far, that scenario has played out, yet Apache still
trades at a 33% discount to its 2001 estimated net asset value, while sector
rivals currently trade at a more reasonable 15% to 20% discount to their
NAVs. Moreover, the stock presently changes hands at just 12 times forward
earnings - a hefty discount to its historical Cisco-like multiple of 66.
Why the disconnect? Admittedly stumped, the oil and gas analyst community -
which is almost uniformly positive on Apache - concedes that investors have a
difficult time believing the gas industry's "perfect storm" combination of
all-time high prices, low reserves and high demand will last. Brad Beago of
Credit Lyonnais points out that the market is pricing the stock as if oil
were trading in the low $20s per barrel and gas at $3 per million cubic feet,
instead of the $28 and $4.50, respectively, they fetch now. What's more,
Apache's well-known growth-by-acquisition strategy has scared away investors
who fear that a sudden collapse in commodity prices could torpedo the
company's business model.
Such thinking could be a mistake. In the past decade, Apache has spent more
than $10 billion to snap up reserves and production facilities at low prices,
a work in progress that has created a rock-solid asset portfolio with
consistent revenue streams. Recently, the company put the finishing touches
on $1.4 billion in high-profile property acquisitions from the Spanish
concern Repsol and the Australian Fletcher Challenge, deals that have
produced, among other things, gushing oil yields in Egypt and Canada.
"Historically, Apache has done an exceptionally good job on the acquisition
side," says Kenneth Beer of New Orleans-based Johnson Rice. "The upside," he
adds, "now comes from the maturation of their exploration program."
Another intriguing energy play: Williams Cos. (WMB). Known as the poor man's
Enron (ENE), the $19 billion Tulsa, Okla.-based energy powerhouse has a hand
in virtually all areas of the business - gas and oil transportation,
gathering, exploration, refining, power marketing and energy trading, to name
just a few. And like Apache, Williams has been aggressive lately. On Monday,
the company snarled off suitor Royal Dutch/Shell Group (RD) by paying $2.5
billion for Denver natural-gas producer Barrett Resources (BRR), a deal that
not only will be immediately accretive to earnings but also effectively
doubles Williams' proven gas stockpile.
On the accounting front, first-quarter revenues at Williams surged 63%
year-over-year to $3.09 billion, while earnings from continuing operations
shot up to $378.3 million from $138.9 million. Yet Williams' stock, currently
around $39, trades at a 21% discount to its 52-week high of $48.13 set last
August, and just 14 times estimated 2002 earnings. Since rich cousin and
industry standard-bearer Enron trades at 27 times forward earnings, analysts
who cover Williams think the stock is long overdue for a pop.
Finally, investors looking to increase their exposure to the energy sector
should consider the booming area of power generation, an industry that has
consolidated a frightening amount of clout in the disastrously deregulated
state of California and elsewhere. Based in San Jose, Calif., Calpine (CPN)
does the dirty work of generating and selling electricity to utilities and
other third parties. Ironically, the company's two primary fuel sources for
its turbines - natural gas and geothermal - actually make for some of the
cleanest electricity production around.
And Calpine's numbers suggest that green (or at least greener) can be good
from a profitability standpoint. For the three months ended March 31,
revenues skyrocketed to $1.23 billion from $235.4 million, with net income
surging fivefold to $93.7 million. First-quarter earnings per share of 30
cents beat the Street by six cents and persuaded the analyst community to
predict decidedly un-utility-like 45% to 50% annual EPS growth for the
company for the next five years.
While Calpine's healthy 2002 price-to-earnings ratio of 23 is in line with
that of the S&P 500, political momentum is certainly on the company's side.
The Bush administration has taken a hands-off approach to the California
energy crisis, leaving it in the lap of Democratic governor Gray Davis of
California. Still reeling from the bankruptcy of PG&E, the Davis
administration is left with little power aside from exhortation to compel
generators like Calpine to give the state's financially strapped utilities a
break. As California's rolling blackouts make front-page news again this
summer, it will become increasingly clear to Americans that new power plants
are needed to meet our growing energy demand - 1,900 over the next two
decades, according to Vice President Dick Cheney. Flush with cash and
proceeds from the capital markets, Calpine is all too happy to come to the
rescue.
With growth prospects like these, Calpine - along with its underappreciated
cousins Apache and Williams - could make for some exciting talk around the
candle-lit water cooler his summer.
For more information and analysis of companies and mutual funds, visit
SmartMoney.com at http://www.smartmoney.com/
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
India: No To Guarantees For Enron Power Project -Report
05/09/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW DELHI -(Dow Jones)- India's Finance Ministry has upheld the Maharashtra
state government's decision not to extend financial guarantees sought by
lenders to Enron Corp.'s (ENE) controversial Dabhol Power Co., the Press
Trust of India, quoting state government sources, reported late Wednesday.
The federal government upheld the state government's decision not to provide
escrow cover or increase the limit of a letter of credit, the Press Trust
said.
The Finance Ministry's response, in a letter to the Maharashtra government,
followed demands for the guarantees by the $3 billion power-plant project's
global and domestic lenders, the Press Trust reported.
Enron spokesman John Ambler in Houston couldn't confirm that a letter had
been sent and said it would be inappropriate to comment.
The 2,184-megawatt project - India's single largest foreign investment - has
been mired in financial disputes since the Maharashtra State Electricity
Board, its main customer, failed to pay several bills. Under a 1996
counter-guarantee agreement, the federal government is obliged to pay Enron
when MSEB defaults.
According to the Press Trust, the consortium of lenders asked in a May 1
letter to Finance Secretary Ajit Kumar for payment of the disputed 2.13
billion rupees ($1=INR46.8325) in power bills from December and January,
activation of escrow cover and an increase in the letter of credit amount.
The lenders also asked the federal government to Honiara its counter
guarantees to Dabhol Power under the power purchase agreement with
Maharashtra State.
The lenders are ABN Amro (ABN), Credit Suisse First Boston (Z.CSF), Citibank
NA (C), ANZ Export Finance Ltd, Bank of America (BAC) and the Industrial
Development Bank of India.
Dabhol has come under fire because of the relatively high cost of its power.
Critics object to Dabhol charging INR7.1 a kilowatt-hour for its power,
compared with INR1.5/kWh charged by other suppliers.
As reported, a nine-member state committee headed by retired federal Home
Secretary Madhav Godbole is working to lower the DPC's power tariff and allow
the sale of excess power to the federal government or its utilities. A
restructuring of the DPC's stakeholding may also be on the agenda. The
Maharashtra government has asked the committee to try to negotiate a revised
agreement within a month.
The DPC currently operates a 740-megawatt naphtha plant contributing about
0.7% to India's installed capacity. Enron has maintained that work will be
completed by the year-end in the second phase of the Dabhol project that will
add 1,444 MW to its capacity. The plant will switch from naphtha to liquefied
natural gas as a fuel source in 2002.
Texas-based Enron has a 65% stake in the DPC and is the project's largest
shareholder. Other shareholders include the MSEB with 15%, and General
Electric Co. (GE) and Bechtel Enterprises (X.BTL) with 10% each.
-By Himendra Kumar, Dow Jones Newswires; 91-11-461-9427;
[email protected]
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved.
N American Newsprint: Publishers Hold Large Inventories
05/09/2001
Dow Jones Commodities Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
CHICAGO -(Dow Jones)- Publishers in the North American newsprint market,
which are holding large amounts of inventory, continued to resist the
recently revised price hike, though prices hadn't suffered further erosion in
the week ended Wednesday.
Producers reduced their original March price hike of $50 a metric ton to $25
a ton, effective May 1.
Market participants said the pressure was on producers to lower prices
further.
"We're selling at the same price and buying at the same price," said a source
at a U.S. merchant, which caters to small- to medium-sized buyers. But added
the source, "I think the ($25 a ton) price increase will get scaled back to
unchanged."
The element setting the last few price increases apart from this year's
increase is that they were implemented during a tight market.
This price hike comes at a time when publishers have considerably reduced
their consumption of newsprint and are holding substantial inventory,
according to publisher sources.
Some of that inventory had been built to beat the March price hike, and it
went unused as advertising linage started to fall beyond expectations.
"I've cut orders because my inventories are going up, up and up," said a
purchasing executive with a major Midwestern daily. "I'm not buying more than
what I have committed under contract."
The executive said other newspaper publishers in the Midwest - Tribune Co.
(TRB) as well as some medium-sized buyers - were facing similar circumstances
and cutting back on newsprint purchases.
The Midwestern daily, whose consumption has fallen 12% mainly due to
advertising linage and classified advertising reductions, held 59 days of
newsprint inventory, the executive said.
Meanwhile, to increase their leverage, some larger publishers turned to
purchasing newsprint from entities like Enron Corp. (ENE), while denying
business to larger producers like Abitibi-Consolidated Inc. (ABY) and Bowater
Inc. (BOW).
Enron physically buys and sells pulp and paper, as well as risk-management
instruments related to forest products, among other commodities.
Transaction prices averaged $620 a ton, but larger newspaper chains paid
between $580 a ton to $610 a ton, sources said. Newsprint's list price is
currently at $635 a ton.
Despite low newsprint consumption and a concerted effort by publishers to
stave off the May price increase, BMO Nesbitt Burns Inc.'s forest products
analyst, Stephen Atkinson, said the price hike should be implemented "without
any problems."
"Yes, there is a slowdown (in consumption), but the power is in the hands of
the producers" following a high degree of consolidation in the newsprint
industry, he said.
"The producers can't drive publishers into bankruptcy, but the publishers are
now finding that they can't drive producers into bankruptcy either," Atkinson
added.
-By Zahida Hafeez, Dow Jones Newswires; 312-750-4132;
[email protected]
Copyright , 2000 Dow Jones & Company, Inc. All Rights Reserved. | {
"pile_set_name": "Enron Emails"
} |
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