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Subject: re : interview with research dept . candidate rabi s . de , friday , august 11 , 2000 i apologize for not putting the date of this interview . for everyone but tanya and paulo , the interview time is already entered on your calendars for august 11 , 2000 . again , sorry for the oversite . - - - - - - - - - - - - - - - - - - - - - - forwarded by anita dupont / na / enron on 08 / 01 / 2000 09 : 16 am - - - - - - - - - - - - - - - - - - - - - - - - - - - stinson gibner @ ect 08 / 01 / 2000 09 : 12 am to : anita dupont / na / enron @ enron cc : subject : re : interview with research dept . candidate rabi s . de on which day are the interviews ? anita dupont @ enron 07 / 31 / 2000 03 : 49 pm to : vince j kaminski / hou / ect @ ect , stinson gibner / hou / ect @ ect , grant masson / hou / ect @ ect , pinnamaneni krishnarao / hou / ect @ ect , tanya tamarchenko / hou / ect @ ect , zimin lu / hou / ect @ ect , vasant shanbhogue / hou / ect @ ect , paulo issler / hou / ect @ ect cc : subject : interview with research dept . candidate rabi s . de the following interview schedule has been set up for rabi s . de by sean grady , hr staffing : 9 : 00 - 9 : 30 am vince kaminiski 9 : 30 - 10 : 00 am stinson gibner 10 : 00 - 10 : 30 am grant masson 10 : 30 - 11 : 00 am krishna krishnarao 11 : 00 - 11 : 30 am tanya tamarchenko 11 : 30 - 1 : 00 pm lunch with tanya tamarchenko and zimin lu 1 : 00 - 1 : 30 pm zimin lu 1 : 30 - 2 : 00 pm vasant shanbhogue 2 : 00 - 2 : 30 pm paulo issler please call me if you have any questions or if a conflict develops and you need to change your interview time . thanks . anita | 0 |
Subject: charles shen vince : update on charles shen : he called me this morning to verify that we had received his faxed paystub . i told him that we had , and that i had relayed the information to you , but hadn ' t heard back from you yet . he is definitely interested in working for enron , and ended up saying that he didn ' t mean to be demanding and really only wanted a package a little better than the one he has at williams . i told him that i would follow up with you to see where you wanted to go from here , and that i would get back to him as soon as i received some instructions from you . please let me know if you would like me to do anything else or find out any more information from him . molly | 0 |
Subject: siam conference dear mr . kaminski , i was one of the participants of the siam conference which was held last week - end , and i have very much enjoyed your presentation . at the end of the session , i was hoping to talk to you , but unfortunately you were already gone . you said that if we were interested , you could e - mail a copy of your talk . i would appreciate if you could send a copy to this e - mail address . i am a mathematics ph . d . student at texas a & m university and i will be graduating this august . i am very much interested in working in the modeling of energy markets . can you please tell me whom i should send my resume , and who i should contact in your company about a possible position in your research group . thank you for your time . sincerely g . aysu bilgin texas a & m university department of mathematics get your free download of msn explorer at http : / / explorer . msn . com | 0 |
Subject: re : meeting on feb 8 , 2001 fyi . this is the list of the petronas executives visiting enron on feb 8 . i have invited them to lunch . would you like to join me for lunch . i would like to propose a short courtesy meeting at 10 with jeff / john ( 5 - 10 minutes ) , followed by rac / research presentation till 11 : 30 . vince p . s . i shall reserve a conference room for this meeting - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 08 / 2001 10 : 02 am - - - - - - - - - - - - - - - - - - - - - - - - - - - azminab @ petronas . com . my on 01 / 07 / 2001 06 : 37 : 33 pm to : vince . j . kaminski @ enron . com , shirley . crenshaw @ enron . com , khairuddinbmjaafar @ petronas . com . my cc : subject : re : meeting on feb 8 , 2001 dear kaminski 4 members from corporate risk management unit 1 . iqbal abdullah - general manager 2 . nur azmin abu bakar - head , risk assessment & controls 3 . zulkifli a rahim - head , risk measurement & systems 4 . adnan adams - head , special projects regards vince . j . kaminski @ enron . com on 03 / 01 / 2001 09 : 45 : 02 pm to : azminab @ petronas . com . my cc : vince . j . kaminski @ enron . com , shirley . crenshaw @ enron . com subject : re : meeting on feb 8 , 2001 dear mr . nur azmin abu bakar , thanks for your prompt reply . please , let us know how many members of your team will visit enron . i look forward to our meeting on february 8 . vince kaminski azminab @ petronas . com . my on 01 / 02 / 2001 06 : 38 : 33 pm to : vince . j . kaminski @ enron . com , khairuddinbmjaafar @ petronas . com . my , shirley . crenshaw @ enron . com cc : subject : re : meeting on feb 8 , 2001 dear kaminski , happy new year and thank you for the reply . we are honored to have lunch with you and your team however we have another appointment at 2 . 30 p . m . regards vince . j . kaminski @ enron . com on 03 / 01 / 2001 07 : 38 : 19 am to : azminab @ petronas . com . my cc : vince . j . kaminski @ enron . com , shirley . crenshaw @ enron . com subject : meeting on feb 8 , 2001 dear sir , i would like to apologize for the delay in responding to your fax . i was on vacation for the last few days . i shall be honored to meet your delegation on thursday , february 8 at 10 : 00 a . m . please , let me know if you will be free for lunch after the meeting . vince kaminski | 0 |
Subject: re : vince / stinson , the note below gives us the authorization to proceed . i have received no comments from wade on my signing , but i have his approval for the study , so i will proceed on that basis . since we do not have any format of confidentiality agreement from jim , let us use the one signed by the legal team for the japan study by henwood . in this reference , could you ( stinson ) get this from either heather mitchell , or john viverito ( who is the lawyer involved with japan , reporting to alan aronowitz ) . we could use that as template and proceed before friday on that basis . regards , sandeep . - - - - - - - - - - - - - - - - - - - - - - forwarded by sandeep kohli / enron _ development on 01 / 03 / 2001 10 : 17 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - james a hughes 01 / 03 / 2001 11 : 08 pm to : sandeep kohli / enron _ development @ enron _ development cc : wade cline / enron _ development @ enron _ development subject : re : i have already given authorization to proceed . however , i did not know we were providing the data . that is the thing i am looking for most - the raw information on what the grid and stack looks like . we need this asap . how do we get this done quickly ? jim sandeep kohli 01 / 02 / 2001 10 : 55 pm to : wade cline / enron _ development @ enron _ development , james a cc : subject : wade / jim , my apologies for missing the conference calls yesterday and today . i was not able to download my messages in time for the calls , but i will be on going forward . while i am still on vacation , i have been in conversation with vince and the research group following up on the henwood study we had spoken about . we have received a formal proposal from henwood , and they are wanting authorization to go forward . the study will get us the despatch forecasts for the next 8 - 10 years , and will deliver the results by january end , per henwood . vince and i have reviewed the proposal , and feel that we should proceed . we will be fine tuning the assignment as we go forward . the big issue there is the data for the model / s , and at this point henwood is relying more on us to provide the data . we spoke to henwood yesterday , and i will be on another call with them on friday . i need your confirmation on the following : that i have your approval to proceed ahead with the study that the study shall be paid for by dpc , and if so , is it ok for me to sign the authorization being sent by henwood we will need a formal confidentiality agreement to be in place by tomorrow ( jim - if you have a particular format , please let me know ) i am leaving the issue of hourly rates and cost to the research group since they have more experience in dealing with groups like henwood . they feel the costs are reasonable , and i will leave it at that . we will need to collect data from the different sources we have in india , and i have proposed that there be a formal session in india between henwood and the ene team in india in the week between 10 th and 15 th . this is important to insure that there are no disconnects , and that there are no illusions on the quality of the data that will be available . it will also help us formalize the scope and better define the issues . in order to meet the deadlines , the data will have to be in place by january 15 th . i will call jim later today ( i had called but you were on a call ) . i am here till the weekend when i leave for india . please let me know if this arrangement is ok . regards , sandeep . | 0 |
Subject: rtp project thanks vince . i think the right person is anoush farhangi . jh john henderson - - - - - forwarded by john henderson / hou / newpower on 03 / 19 / 2001 10 : 32 am - - - - - vince j kaminski @ ect 03 / 19 / 2001 08 : 12 am to : john henderson / hou / ees @ ees , pinnamaneni krishnarao / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect subject : rtp project john and krishna , i am sending you an outline of a conference at stanford on topics related to demand - side pricing and management in the power markets . please , let me know if you are personally interested and who else in your respective organizations would like to attend . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 19 / 2001 08 : 10 am - - - - - - - - - - - - - - - - - - - - - - - - - - - hill huntington on 03 / 15 / 2001 05 : 26 : 55 pm to : vkamins @ enron . com cc : subject : rtp project vince , targetted conference date is th - f june 21 - 22 at stanford . enclosed in the recent revision to what i sent before . great to meet you , hill - retail notes . rtf hillard g . huntington emf - an international forum on energy and environmental markets voice : ( 650 ) 723 - 1050 408 terman center fax : ( 650 ) 725 - 5362 stanford university email : hillh @ stanford . edu stanford , ca 94305 - 4026 emf website : http : / / www . stanford . edu / group / emf / | 0 |
Subject: re : a very good candidate ok , will get that started . we ' ll let you know when rodney can be available for a trip to houston and will follow up with you to obtain the complete interviewer list . - elizabeth vince j kaminski 03 / 01 / 2000 09 : 31 am to : elizabeth grant / hou / ect @ ect cc : stinson gibner / hou / ect @ ect , vasant shanbhogue / hou / ect @ ect , vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect subject : a very good candidate elizabeth , we got a very good candidate we would like to bring over for an interview . he came through an agency on london ( the address is on the resumes ) . the contact at the agency is anthony regamey . please , contact them to arrange an interview in houston . please , include me , stinson gibner , vasant shanbhogue , tom gros ( ebs ) , jean mrha , brad blesie . we shall think about some other names later . vince | 0 |
Subject: houston trip hi jaideep ! my first suggestion is that you come to houston as scheduled ( and arranged with wharton nearly 3 weeks ago ) . alternatively , rely on your tiger teammates to gather information necessary to respond to the project . should circumstances lead you to decide not to come for this trip , please return the ticket issued to you . should it make sense for you to visit enron some time in the future , we can discuss arrangements at that time . hope to see you soon ! - - christie . - - - - - - - - - - - - - - - - - - - - - - forwarded by christie patrick / hou / ect on 01 / 18 / 2001 01 : 22 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " jaideep singh " on 01 / 17 / 2001 08 : 58 : 51 pm to : cc : subject : houston trip hello christie , thank you for organizing the wharton trip to enron . unfortunately , the flight setup for tomorrow is way too early for me as i ' ll have to miss over 4 hours of classes , which i cannot afford to do . i tried changing the time with continental and there latest flight leaves at 6 pm - which does not work for me ( smack in the middle of my 3 hour class ) thus the dilemma that i find myself in is the following : a . try a different flight as i can make any flight after 7 : 30 pm ( however , i have no control over reservations / budget etc ) b . as it is possible to delay travel upto 1 year , use this ticket to come some other time sorry for this but i just saw the bookings today . any suggestions ? thanks , jaideep | 0 |
Subject: marketpoint license agreement john / vince : i really enjoyed the meeting the other day with you and a broad cross section of your people . thank you very much for setting it up , and thank you for giving me the opportunity to speak with your people . as i mentioned to john , i am sending you the license paperwork for marketpoint . i have attached our standard license agreement for your consideration . as i mentioned , the license agreement covers the entire bundled product , which includes ? north american gas , short and long term ? north american electricity , short and long term ? world gas ? western european gas ? world oil we are just finishing porting the world oil , world gas , and western european gas models over from our old ( now obsolete ) software system into marketpoint , so they will not be fully tested and complete for a couple of months . however , the gas and electricity models for north america are presently complete and tested . that should allow us to give you an attractive price before the full worldwide toolkit is available throughout your worldwide business . as i understood it , you will want the gas modeling capability first and will want to defer decisions on electric or other capability . as i mentioned at the meeting , we are prepared to offer that for approximately the fully bundled price . as you read the license agreement , you will see that the software licenses for $ 100 , 000 annually , the gas data for $ 5 , 000 , and the electric data for $ 10 , 000 . marketpoint will agree to license you the gas model plus the data for the software license plus the data license for a total of $ 55 , 000 annually . this is just under the fully bundled price . i think that is consistent with the discussions at our meeting , and from marketpoint , s perspective would provide a great basis to move forward together with enron . if or when enron ever desires to & scale up 8 to another model or model ( s ) from the marketpoint portfolio , we will simply scale you up to the entire license agreement . this will allow you to decouple the gas decision from any other decisions you might make . ( i will be glad to put this additional pricing provision into the agreement if you decide to move forward . ) i felt i was able to communicate the philosophy , scope , and operation of our approach during the meeting and to deliver you much of the information you might need to evaluate whether marketpoint meets your needs . i thought you were able to see the depth and sophistication of the product yet at the same time its simplicity and effectiveness . i thought you were able to see the benefits of the marketpoint dimension of economic equilibrium as a complement and supplement to other approaches you will assuredly use . i would be interested in your impressions and those of your colleagues . i look forward to your response and to moving ahead together . we view you as a very important prospective customer and client and will work with you to earn and secure your business . if you decide to license marketpoint , we can arrange to transfer and mount marketpoint and the short term narg model ( which is the model we suggest you begin with ) and travel to houston to deliver our 1 day training seminar . our clients are usually very fluent after that 1 day training seminar . thereafter , we would want you to work with the short term narg model for a few weeks while you get up to speed , very fluent , and very comfortable before you take delivery of the longer term version of narg several weeks later . thanks again , and all the best . if there is some item from the meeting that i might have forgotten to send , please remind me . my notes don ' t show anything , but i was speaking a lot rather than writing notes during the meeting and might have overlooked something someone wanted . dale nesbitt president marketpoint inc . 27121 adonna ct . los altos hills , ca 94022 ( 650 ) 218 - 3069 dale . nesbitt @ marketpointinc . com - license . doc | 0 |
Subject: mgmt 656 here is your latest roster . we are up - to - date on all changes but , of course , the students may still drop / add up to the second week of module 5 . when the time comes , please check your roster carefully and make sure that the people on the list really are attending your course . mistakes happen so i just would like to make sure we have a correct record . as always , let me know if you would like the excel folder with e - mail addresses . i don ' t send them at the same time to avoid overwhelming our e - mail system . thanks for your help ! - pam ( 713 - 348 - 6223 ) - 656 . doc | 0 |
Subject: mit financial engineering pro - seminar vince , i have received a call from mit asking if enron would be interested in sponsoring a financial engineering pro - seminar . this means that enron would propose a problem that would have its solution developed by students in the financial engineering track . these students would present the findings in the end . i think that enron has already sponsored a financial engineering pro - seminar . i remember something about real options at the time i was at school . please , let me know if enron has the interest , specifically the research . talking here at the weather desk , mark tawney expressed interest . if you agree , we ( the weather desk ) could co - sponsor this pro - seminar with the research . the idea , then , would be to propose a problem connected to weather trading . please , give me your thoughts about this issue . thanks , claudio | 0 |
Subject: co - integration zimin , andrea reed asked for our help in looking for end - users of steel which might be used to take a commodity hedge position . she will work on identifying potential equities or indices which might be used , and then we will analyze them for correlation or co - integration with steel prices . andrea should be contacting you next week regarding the project . hector has done co - integration analysis in the past and has the tools to do this project . thanks , stinson anrdrea : we will also need you to identify which steel prices / indices should be used in this analysis . | 0 |
Subject: gas transportation meeting - 8 / 16 / 00 hello everyone : a meeting has been scheduled between the addressees for wednesday , august 16 th at 4 : 00 pm in ebl 938 . if you have any questions , please let me know . regards , shirley | 0 |
Subject: presentation at ut vince , i appreciate your response to my request for you to speak to my class on real options . i thought you might enjoy the following exchange of emails that occurred yesterday . perhaps some of these issues could be addressed in your talk . jim - - - - - original message - - - - - from : sheridan titman sent : friday , march 31 , 2000 9 : 11 am to : jim dyer subject : re : real options course feedback jim : your student has raised some difficult questions . i would recommend ehud , but i thought that the finance people have the answers in cases with complete markets and that we rely on the decision science people for cases with incomplete markets . if it would help , i can come in at 6 pm after my class in a couple of weeks . sheridan sheridan titman department of finance college of business administration university of texas austin , texas 78712 - 1179 512 - 232 - 2787 ( phone ) 512 - 471 - 5073 ( fax ) titman @ mail . utexas . edu - - - - - original message - - - - - from : jim dyer sent : thursday , march 30 , 2000 4 : 37 pm to : sheridan titman subject : re : real options course feedback sheridan , which of your classes do you want to miss ? just kidding . actually you probably told me that before . can you suggest someone else who would be a good choice to discuss the use of option theory in the context of incomplete markets , and to address some of the types of questions raised in the note from the student ? jim - - - - - original message - - - - - from : sheridan titman sent : thursday , march 30 , 2000 5 : 58 pm to : jim dyer subject : re : real options course feedback jim : i teach at the same time as you do . sheridan sheridan titman department of finance college of business administration university of texas austin , texas 78712 - 1179 512 - 232 - 2787 ( phone ) 512 - 471 - 5073 ( fax ) titman @ mail . utexas . edu - - - - - original message - - - - - from : jim dyer sent : thursday , march 30 , 2000 11 : 32 am to : sheridan titman subject : fw : real options course feedback sheridan , see the comments below . i don ' t mean to put you on the spot , and have not announced anything in class , but i am hoping that you could visit my class for about an hour one thursday afternoon to discuss your views regarding applications of option pricing concepts to " real options " . as a reminder , i ' ve attached a course outline . chris kenyon from schlumberger is speaking on april 13 , and vince kaminski has tentatively agreed to speak on april 20 . i am going to be out of town on april 27 , so that leaves either next thursday ( april 6 ) or may 4 . would either of those times work for you ? i ' m not thinking of any preparation , but more of an informal discussion of the " philosophical issues " related to real options work . jim - - - - - original message - - - - - from : jim dyer sent : thursday , march 30 , 2000 1 : 24 pm to : ' jclevenger @ optionii . bus . utexas . edu ' subject : re : real options course feedback josh , some very thoughtful observations . as you know , i had invited one finance professor to our class on arundel , but he was out of town . i do plan to invite sheridan titman to discuss the issue of using the option models in situations where there is no underlying security that is traded . i do think it is important to face that issue , which is actually covered at a theoretical level in our last couple of readings . the issue of volatility is also an excellent issue for further discussion , as you suggest . so far , we ' ve been looking at cases where volatility is " given " . the problem of finding an " objective " measure of volatility for a project reminds me of the problem of finding the correct risk adjusted discount rate , which is not surprising since the concepts are almost two sides of the same plate . one approach , of course , is to do some modeling using traditional decision analysis tools , including subjective probabilities , but the finance people who write options articles don ' t like to think about such ideas . i ' ll try to address these issues in more detail as the semester continues . i think it was important to surface some of these points early , and to come back to them after we have seen how to apply the methods in a naive sort of way . thanks for the feedback and comments . jim - - - - - original message - - - - - from : jclevenger @ optionii . bus . utexas . edu sent : thursday , march 30 , 2000 8 : 42 am to : jim . dyer @ bus . utexas . edu cc : josh - clevenger @ reliantenergy . com subject : real options course feedback after overcoming the initial ( i hope ) overload of materials and tools presented thus far in the semester , it appears to me that you are achieving the objective of making us comfortable with optionality valuation as applied to a variety of problems which are outside the borders defined by a liquid market of traded financial elements . as a constructive feedback , you have been forthright with us in marking off areas of this subject which are still controversial . i also realize that rightly so , real - world application of this type of analysis without a robust understanding of finance may degenerate into a succession of assumptions that result in a " house of cards " effect . my opinion at this point is that two issues are of potentially " make - or - brake " importance if i am to persuade my superiors to accept these methods for valuations outside the realm of projects whose value is primarily driven by the value of commodities backed by financial instruments . these issues are easy to guess : 1 ) discounting and risk free rates : i do not sense that anyone in the class has put forth convincing arguments as to the proper application of time value questions in the absence of liquidity . is there someone within the finance department that can present a firmer position on this question ? 2 ) volatility : i found winston ' s examples on this metric succinct . i would recommend that in future years you dedicate some hours of class time to this subject . my criticism again relates to messy problems . i anticipate arguments against real option applications based on the dispute of volatility measures . if i were a conservative financial manager , i would argue that : * * * two - a : implied volatility derived from an industry specific slice of equity options is a shotgun approach - - the projects being valued are of a tranche which may in fact have a significantly different outcome variance than the weighted average measured by the equities utilized . oil , gas and electricty are good examples the major players are competing on many different levels of the value chain . smaller companies do exist which are dedicated to one strata , but what about projects that want to exploit opportunies across strata in a vertically integrated company ? * * * two - b : based on the following skepticism - if a real option value is being proposed for a new business venture ( some new unexploited opportunity , ) there is some paradox embedded in the increased value based on high volatility in new ventures and the high risk of failure . this skepticism is likely to be less acute in high - tech sectors where the huge upside of new ventures is paraded before us daily by nasdq touts . it is a much harder sell to " mature " industries . of particular interest in the power industry are investments centered around opportunities arising from restructuring of electricity and natural gas sectors as regulation is removed . a large proportion of the risk is embedded in ongoing changes of public policy on an international basis . as an intentionally screwed - up example , can anyone other than a financial genius correctly asses volatility for u . s . companies investing in seed projects in mexico based on speculation of the inevitable dismantling of the national utility ( cfe ) and pemex ? james s . dyer fondren centennial chair in business department of management science and information systems cba 5 . 202 the university of texas at austin austin , texas 78712 - 1175 email : j . dyer @ bus . utexas . edu telephone : 512 - 471 - 5278 fax : 512 - 471 - 0587 | 0 |
Subject: re : sfa individual registrations hi julie , it is so nice to hear from you . i have had several conversations with the houston compliance people regarding how to keep my sfa licenses current . as per your request , i will respond to your questions in your email : - - - - - original message - - - - - from : russell , julie sent : friday , april 06 , 2001 10 : 19 am to : mack , iris subject : sfa individual registrations iris your mails regarding sfa registration finally made their way to me , as i look after all enron ' s individual registrations with the sfa . at present , we are able to register overseas based individuals , although this may change towards the end of the year when the fsa takes over from the sfa as lead regulator in the uk . i am sort of overseas . however i will be spending some time in the london office ( which is another reason why i don ' t want to lose my sfa designations ) . as a matter of fact , i will be coming to london office in a week or two - and staying there for a while . there is still a lot of uncertainty surrounding how the fsa will implement individual registrations , but it has stated that anyone registered with the sfa at the point at which the fsa takes over , will be automatically ' grandfathered ' across to the new regulator . time will tell , what will happen thereafter . what we need to do as far as your registration is concerned , is to submit a transfer form to the sfa to move your registration to enron . i shall put a form in the mail to you ( please let me know where to send it ) for signature and update of personal details . my enron office address in houston is as follows : iris mack research department 1400 smith street , 1972 d houston , texas 77002 usa as we have to submit the form to the sfa with original signatures , please return it to me at enron house and i can get it authorised by our sfa compliance officer , jonathan marsh . i will then inform you when i receive confirmation of your acc could you respond to the following by return e - mail ; name of the sfa regulated firm where you were last registered ; banque nationale de paris paribas at 10 harewood avenue in london date ( approximation ) when you left the above ; august 2000 type of registration you held - please note we can only register you in the following registers ; general representative , futures and options representative , securities representative or corporate finance representative i passed three exams : derivatives , securities and regulations the final question is whether you are going to be based in houston permanently or whether you know at this stage if / when you will be returning to the uk . right now i will be spending time in both houston and london . see above explanation . hopefully i have answered all your questions . please let me know if you require additional information . kind regards , iris look forward to hearing from you best regards julie julie russell compliance and regulatory | 0 |
Subject: var for metals it is my preference to have an aggregated var methodology for the metals business as soon as possible ( version la ) . i do not want to poison progress with my opiniion , but i think that the critical first step is to find a way to aggregate positions in coarse buckets , perhaps sacrificing precision for speed , based on " rules " that oerations can deliver , research can stand behind and commercial will accept . , and using an equally coarse var calculation ( the equivalent of ad - hoc var ? ) that can be delivered to the " official books and records " on a daily basis . this i believe would be acceptable for a 2 - 3 month time frame ( at which time we get versionlb ) as opposed to waiting 2 - 3 months to implement a better process and have nothing in the interim . ultimately , i would look for version 2 a to be delivered and very defendable by 1 / 1 / 01 . this will require indulgence and compromise on all fronts but i cannot conceive of a better way . please let me know if this is consistent with your understanding . a critical point from my perspective is that the mg commercial team and metal operations staff understand their role in making this happen and willingness to accept the consequences . i look for you to take the lead as leader of the integration to do so . if you need any input from the rest of us to underscore the importance please let us know . as i alluded to on the phone , the people in houston that have been involved in the var process have been through an extraordinary period of detailed scrutiny of var by commercial and have been hindered by the lack of basic understanding by all parties as their responsibilities . given the distance and the newness of the metals personell , i fear that this could set us all up for some surprises and some very uncomfortable communication , much of which is not entirely necessary . thanks ted eric gadd 07 / 21 / 2000 11 : 46 am to : ted murphy / hou / ect @ ect , bjorn hagelmann / hou / ect @ ect cc : richard sage / lon / ect @ ect subject : attached fax ted and bjorn - we plan to release draft recommendations on metal position limits by close of business on 24 july and have asked vince to prepare a v @ r computational methodology prior to the 7 / 8 aug bod meeting . | 0 |
Subject: re : question will do . john at 11 : 15 am 2 / 15 / 01 - 0600 , you wrote : > > john , > > i think it ' s a good idea . please , go ahead and call > him directly . > > vince > > > > > " john d . martin " on 02 / 13 / 2001 06 : 12 : 48 pm > > to : vkamins @ enron . com > cc : > subject : question > > > vince , > > what do you think about asking andy fastow to come to the texas finance > festival this april as our luncheon speaker ? if you agree i ' ll go ahead > and call him . if you have an opportunity to speak with him about the > conference that would be great . the date is april 21 st ( that ' s a > saturday ) . > > hope you are enjoying ny . shirley tells me that you ' re running up your > frequent flyer miles again . > > your friend , > > john > > > date : tue , 13 feb 2001 17 : 29 : 42 - 0600 > > from : sheridan titman > > subject : re : oops > > x - sender : titman @ mail . utexas . edu > > to : " john d . martin " > > x - mailer : windows eudora light version 3 . 0 . 1 ( 32 ) > > > > john : > > > > i like your enron article . i will assign it to my students . do you think > > we can get the cfo for the tff ? i saw that he is making a presentation to > > a conference of cfos in dallas about capital structure . > > > > sheridan > > > > at 09 : 15 am 2 / 7 / 01 - 0600 , you wrote : > > > > > > > > > > > > john d . martin > > > carr p . collins chair in finance > > > finance department > > > baylor university > > > po box 98004 > > > waco , tx 76798 > > > 254 - 710 - 4473 ( office ) > > > 254 - 710 - 1092 ( fax ) > > > j _ martin @ baylor . edu > > > web : http : / / hsb . baylor . edu / html / martinj / home . html > > sheridan titman > > department of finance > > college of business administration > > university of texas > > austin , texas 78712 - 1179 > > > > 512 - 232 - 2787 ( phone ) > > 512 - 471 - 5073 ( fax ) > > > > titman @ mail . utexas . edu > > > john d . martin > carr p . collins chair in finance > finance department > baylor university > po box 98004 > waco , tx 76798 > 254 - 710 - 4473 ( office ) > 254 - 710 - 1092 ( fax ) > j _ martin @ baylor . edu > web : http : / / hsb . baylor . edu / html / martinj / home . html > > > > john d . martin carr p . collins chair in finance finance department baylor university po box 98004 waco , tx 76798 254 - 710 - 4473 ( office ) 254 - 710 - 1092 ( fax ) j _ martin @ baylor . edu web : http : / / hsb . baylor . edu / html / martinj / home . html | 0 |
Subject: non - firm power curve building hi vince , amitava and i have received a request to build a non - firm power curve for each region from david hoog ' s double trigger folks . the objective , as they explain it , is to allow the desk to buy non - firm from the market , buy david ' s outage product , and sell firm to the market . accountants would like a curve to mark the non - firm position . my initial thought is that the desk should provide this non - firm curve , but it seems that this market is very illiquid and they are reluctant so they have put the ball in david hoog ' s court to build the curve if david wants to sell his product internally to the desk . assuming we build the curve , the next issue is how to define " non - firm " ? the only way i can think of is to tie the non - firmness to a specific generation unit or group of units . this will allow the purchase of david ' s outage product to cover the non - firmness risk . tying the definition of non - firmness to a whole region seems implausible - - - what does it mean to give a marketer the option to not deliver power if there is any problem anywhere in the region ? consequently , the non - firm curve takes on a unit - level interpretation , and not a region - level interpretation . consequently , i do not see how we can talk about the " non - firm curve for the region " ? we will need to build a non - firm curve for each generation unit or group of units . maybe i could get your thoughts later today . thanks , vasant | 0 |
Subject: dot . odpowiedzi na list mam nadzieje , ze moja odowiedz na list sz . pana z dn . 19 . 01 . 01 doszla do pana . byl on wysylany z niepewnego komputera . jezeli nie doszedl , to prosze dac znac ( elektronicznie oczywiscie ) . serdecznie pozdrawiam grazyna piesniewska | 0 |
Subject: credit model status update bill , i am forwarding a memo from vincent tang about the new credit model . english may be imperfect but the message is clear . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 10 / 2000 02 : 31 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - vincent tang 02 / 08 / 2000 02 : 43 pm to : vince j kaminski / hou / ect @ ect , grant masson / hou / ect @ ect , tanya tamarchenko / hou / ect @ ect cc : subject : credit model status update | 0 |
Subject: high frequency market data analysis stinson , we are going to update you and vince the progress of the eol george project . friday , 9 : 30 am - 10 : 00 am in eb 1938 . bob , we may get some other ideas from the following book , take a look to see if it is worth to buy one . - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - risk executive reports ? ? ? high - frequency financial market data sources , applications and market microstructure by dr owain ap gwilym and professor charles sutcliffe , school of management , university of southampton , uk a high - quality , non - technical resource on an increasingly invaluable topic for all users of high - frequency data . 10 sections cover the many aspects of high - frequency data by covering a broad set of information ranging from data suppliers to detailed research angles topics covered include : managing hfd ; arbitrage opportunities ; intra - day seasonalities ; regulation ; market efficiency and market making . format price report ol 75 / us $ 280 a 4 , 162 pp published : august 1999 review | table of contents | order now in o | order now in $ for other titles of interest please click here : risk executive reports send this page to a colleague high - frequency financial market data contents 1 . introduction and overview overview and background the motivation and demand for high - frequency data the uses of high - frequency data structure of this report 2 . sources and types of high - frequency data types of data data supplied by exchanges panel 2 . 1 ( by paul macgregor , liffe ) - the sourcing and preparation of liffe tick data specialist data providers real - time data providers summary 3 . managing and exploiting high - frequency data panel 3 . 1 - illustrative high - frequency data data storage , filtering and cleaning the treatment of time panel 3 . 2 - olsen filtering system constructing continuous series key considerations in manipulating high - frequency data modelling issues summary of chapter 4 . arbitrage opportunities in equity markets what is arbitrage ? empirical studies of arbitrage opportunities arbitrage in equity markets individual arbitrage trades 5 . intra - day seasonalities intra - day patterns in returns intra - day patterns in volume intra - day patterns in volatility intra - day patterns in the bid - ask spread intra - day patterns in the autocorrelation of returns intra - day patterns in hedge ratios other intra - day patterns effects of news announcements on intra - day patterns the turn - of - the - year effect and high - frequency data conclusions 6 . links between markets leads and lags in prices between different types of market based on the same asset the 1987 stock market crash leads and lags in price volatility links between geographically separated markets rival markets 7 . destabilisation of markets relative volatility programme trading and volatility price movements at expiration conclusions 8 . regulations governing the markets regulation of dual capacity circuit breakers restrictions on short selling taxes on transactions tick size and price clustering delayed publication of trades conclusions 9 . market efficiency weak - form efficiency semi - strong - form efficiency conclusions 10 . market makingrevision of prices other aspects of financial markets determinants of the bid - ask spread block trades conclusions 11 . conclusion and future developments references ? ? ? | 0 |
Subject: contact info i will be out next week . if there are any problems with or questions concerning the grains report , please let me know . i can be reached on my cell phone at 713 - 303 - 5973 and will periodically check voice mail . have a good holiday ! nelson | 0 |
Subject: hello vince vince , two things . do you have any comments on the interview document ? second , i want to submit a proposal to the european financial management association meetings for next may based on our paper . the meeting is in may and is held in paris . hope you can come ( assuming the program committee likes our proposal - - i won the best paper award at last year ' s meeting so maybe we can do it again ) . looking forward to hearing form you so i can get bob ' s response to the questions . john john d . martin carr p . collins chair in finance finance department baylor university po box 98004 waco , tx 76798 254 - 710 - 4473 ( office ) 254 - 710 - 1092 ( fax ) j _ martin @ baylor . edu web : http : / / hsb . baylor . edu / html / martinj / home . html | 0 |
Subject: sabbatical dr . kaminski : ? i had intended to contact you regarding a position at enron this summer , but the department really needed me to teach a section of undergraduate corporate finance this summer . ? if all goes well , and ? there is a place for me at enron , i would be able to start after the summer session ends in late ? july . ? ? i ? discussed the possibility of a sabbatical at enron with drs . tom arnold and alex butler , both of whom send their regards , and they both felt the experience would be invaluable given my research and career objectives . ? dr . arnold and i agreed that a sabbatical of 1 - 2 years would be optimal . ? i feel that it would be difficult to get a good idea of where the company is headed , and to show how i can be a valuable team member in helping it get there ? in much less than a year . ? he was afraid that the university would begin to grumble if i was gone for much more than 2 years . ? any suggestions ? ? thank you again for your help , and i look forward to hearing from you . ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? cordially , ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? shane green | 0 |
Subject: re : li sun jeff , i met with li sun last night and i shall take her for the first rotation . she comes across as a very smart and highly motivated person . i am planning to go with mark palmer to wharton in october to finalize the deal . vince from : jeffrey a shankman 08 / 23 / 2000 06 : 31 am to : jana giovannini / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : li sun i ' ve asked vince to get involved with you about getting li into vince ' s group . this issue needs to be resolved by week ' s end - - we look like we don ' t have our act together , and that bothers me . especially since we are about to make a significant monetary investment at wharton , and we could have a new wharton recruit disgruntled . vince , can you set up a meeting with you , me and mark palmer to follow up with our meeting with skilling ? thanks very much . . . jeff | 0 |
Subject: univ of texas julia , the lawyers at ut at austin have some questions regarding your corrections to the non - disclosure agreement . specifically , they want to discus the arbitration provision . the name of the lawyer at ut is gene bartley , 512 471 2995 . vince | 0 |
Subject: enron : wefa luncheon may 1 would you like to attend the presentation and join me for lunch with wefa . any other suggestions re attendance . please , let shirley know . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 04 / 11 / 2001 12 : 36 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - " peter mcnabb " on 04 / 11 / 2001 11 : 52 : 47 am to : cc : " kemm farney " subject : enron : wefa luncheon may 1 dear vince thanks for your voicemail and delighted to have you confirm lunch on may 1 . kemm farney the head of wefa ' s electric power services will be travelling with me this time . i expect there may be other enron colleagues that may care to join us for lunch so don ' t hesitate to invite as you see fit . for reservations purposes , perhaps you arrange to let me know numbers . kemm would also be prepared to informally present our current power outlook to a larger group at 11 : 00 , if this would be of interest . as you know , these types of presentations are part of all your wefa energy retainer package . i will also plan to update you with respect to our current multi client study schedule for the remainder of the year . regards , peter peter a . mcnabb vice president energy , north america wefa inc . 2 bloor st . w . toronto , canada m 4 w 3 rl 416 - 513 - 0061 ex 227 - 2001 energy brochure . doc - wefaenergy _ factsheet for energy scenarios 2001 . doc | 0 |
Subject: continue enjoying iijournals - - renew today ! dear vince kaminski , we hope you are enjoying the benefits of receiving market - leading , rigorous and current research from industry experts through your subscription to derivatives quarterly . unfortunately , your subscription is about to expire ! by renewing now , your access to the web site and to your print copies will be uninterrupted . you can continue to get the exclusive research and practical advice for financial practitioners ) written by the best minds in your business ! click here to renew today thank you . | 0 |
Subject: eol dan , i am forwarding you the summary of the information for eol that we can provide . i shall talk to risk magazine to settle the copyright issues . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 05 / 25 / 2000 05 : 17 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - from : mike a roberts 05 / 25 / 2000 02 : 56 pm to : vince j kaminski / hou / ect @ ect cc : subject : eol vince - as a follow - up to this afternoon ' s telephone conversation , the following four categories of information were discussed with dan diamond for inclusion in the research group ' s contribution to eol content : 1 . published articles authored by research group members a . mostly risk magazine stuff b . copyright issues 2 . research intelligence articles a . backlog of around 50 articles b . needs screening prior to release c . review system in place for future articles d . weekly 3 . technical analysis a . cross commodity analyses b . intranet material ready for internet c . generic informative content available 4 . streaming video of weather a . daily 2 - 3 minutes capsule b . toned - down verson of whats given to traders c . energy - focused - - mike | 0 |
Subject: follow - up meeting on wharton it seems like several of you will be on vacation next week , so lets see if we can do it this week . vince is available on thursday from 2 : 00 - 3 : 00 pm or friday , from 1 : 30 - 2 : 30 pm . do either one of these two times work ? let me know . thanks ! shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 12 / 12 / 2000 10 : 56 am - - - - - - - - - - - - - - - - - - - - - - - - - - - shirley crenshaw 12 / 12 / 2000 09 : 20 am to : christie patrick / hou / ect @ ect , james l bouillion / hou / ect @ ect , george carrick / hou / ect @ ect , vasant shanbhogue / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : follow - up meeting on wharton good morning everyone : vince would like to schedule a follow - up meeting on wharton as soon as we can agree on a time . how does monday the 18 th look for you ? vince is free from 9 : 30 am - 11 : 30 am and from 1 : 00 pm - 4 : 00 pm . please let me know if you are available during any of these times . thanks ! shirley crenshaw 3 - 5290 | 0 |
Subject: re : improving option valuation precision in erms stinson , zhiyong wei ' s group will need to make this change . please follow up with zhiyong and jeremy wong . - - allan . stinson gibner 08 / 23 / 2000 09 : 54 am to : allan severude / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , paulo issler / hou / ect @ ect , eric moon / hou / ect @ ect , ed mcmichael / hou / ect @ ect , zimin lu / hou / ect @ ect subject : improving option valuation precision in erms allan , paulo issler in our group , working with eric moon in structuring , recently tracked down the reason for a slight mis - match in option pricing in erms vs . the structuring spreadsheets . it is due to the fact that the option valuation functions in erms use a slightly less accurate approximation for the cumulative normal distribution . we would be happy to work with the right person to update the erms code in order to close this discrepancy . please let me know how you would like to proceed . if you are not the correct person to address the mainenance of erms , please let me know who to contact . thank you , stinson gibner x 34748 | 0 |
Subject: re : li xiao thanks so much , vince . molly vince j kaminski 06 / 29 / 2000 11 : 06 am to : molly magee / hou / ect @ ect cc : subject : re : li xiao molly , my recommendation letter . vince enron north america corp . from : molly magee 06 / 22 / 2000 10 : 39 am to : vince j kaminski / hou / ect @ ect cc : subject : li xiao vince : li has selected you as a reference on her application for a graduate school tuition loan . thanks for taking the time to participate in this process . molly | 0 |
Subject: reminder hello everyone : vince has asked me to send the following as a reminder : * * * * * * * * * * * * * * * * this is another reminder about the responsibility we have as a group for cleaning the conference rooms after meetings . for many visitors to enron a conference room maybe the first and the last exposure to the company . last thursday , some members of the group left , leaving behind their lunch boxes on the table . please , don ' t embarrass me by having to point out to you that your mothers don ' t work here . vince | 0 |
Subject: re : argentina power & gas market modelling okay julian poole 03 / 17 / 2000 10 : 35 am to : michael guerriero / enron _ development @ enron _ development cc : vince j kaminski @ ect , grant masson @ ect , jeff kabel / enron _ development @ enron _ development , rodolfo freyre / enron _ development @ enron _ development , diego hollweck / enron _ development @ enron _ development , bernardo andrews / enron _ development @ enron _ development , mario aguilar benitez / enron _ development @ enron _ development , santiago subject : re : argentina power & gas market modelling all , let ' s arrange a conference call next week to discuss the process . how does tuesday afternoon fit everyone ' s schedule ? julian enron international from : michael guerriero 03 / 17 / 2000 03 : 49 pm to : vince j kaminski @ ect , grant masson @ ect , jeff kabel / enron _ development @ enron _ development , julian poole / enron _ development @ enron _ development , rodolfo freyre / enron _ development @ enron _ development , diego hollweck / enron _ development @ enron _ development , bernardo andrews / enron _ development @ enron _ development , mario aguilar benitez / enron _ development @ enron _ development , santiago cc : subject : argentina power & gas market modelling i would like to initiate a team to address the continued improvement of the argentine power & gas market models . i spoke with vince this morning and we reviewed that history of work to date and what we will need to do from here . a summary is as follows : team : ba members : julian poole lead mario benitez associate ba associates : diego hollweck associate bernardo andrews associate santiago porta associate houston members : to be named . time schedule : as soon as possible . completed before june 1 , 2000 winter in argentina . scope of work : power model : advance the current model from basic load forecasting to incorporate weather , hydrology , improved short term and long term forecasting . natural gas model : build a supply and demand load forecasting model incorporating weather , thermal demand , pipeline flow rates , well head supply , improved short term and long term forecasting . phase i - data request power historic weather : temperature - daily , hourly , min , max , average humidity precipitation cloud cover regionally forward weather : temperature - daily , hourly , min , max , average humidity precipitation cloud cover regionally historic hydrology : reservoir levels reservoir capacity current hydrology : reservoir levels remote monitoring : aireal , pressure device , laser snow pack : density volume and mass power supply : current and future capacity transmission capacity : current and future capacity natural gas data list to be developed phase ii - power model development phase iii - natural gas model development we will take advantage of the fact that the associates are in houston for the next two weeks . vince is out next week but we can start with a process discussion with grant masson next week . julian please get a meeting scheduled as soon as possible . we should immediately start collecting data . thanks mfg | 0 |
Subject: re : enron / stanford program stinson , great ! i ' m looking forward to a very productive collaboration . i ' ll immediately start doing giuseppe ' s papers , for him to work on the enron / stanford program . many thanks to you and vince , and i hope to see you soon at stanford or enron . if i remember correctly , vince is visiting stanford in october . best regards , nick stinson . gibner @ enron . com wrote : > > nick , > > i spoke with paul racicot , head of trading for ebs , north america this > morning . he said that he is happy to send the $ 100 , 000 for your program > from his budget . i have forwarded to him the draft letter to accompany > the funds and will try to follow up to make sure that the money is sent > promptly . > > - - stinson | 0 |
Subject: approval for reviewer roberts jr , michael a has suggested reviewers and submitted them for your approval . you may review / modify this list of reviewers by logging on to pep at http : / / pep . corp . enron . com and going to supervisor services . please remember , no feedback can be completed on roberts jr , michael a until you have approved the list . | 0 |
Subject: re : bollerslev seminar excellent . thank you . bbo at 03 : 19 pm 10 / 10 / 00 - 0500 , you wrote : > barbara , > > noon will be fine . we shall just use the lunch hour . > > vince > > > > > > > barbara ostdiek on 10 / 10 / 2000 12 : 53 : 34 pm > > to : vince . j . kaminski @ enron . com ( vince kaminski ) > cc : > subject : bollerslev seminar > > > vince : > > i don ' t know if you noticed that we have tim bollerslev on the seminar > schedule for december 8 . in order for tim to get back to north carolina on > friday , we need to move the seminar time . i thought that the enron folks > might be interested in his talk so i wanted to get you input on a new > time . i know that 3 : 30 is best but would over the noon hour be second best > or would 2 : 00 be better ? > > thanks . > > bbo > > > > | 0 |
Subject: reactions november is now live on - line reactions the latest edition of the financial magazine for the global insurance market is now live at http : / / www . reactionsnet . com ? ? you can contact us for help at mailto : web - help @ euromoneyplc . com or + 44 ( 0 ) 20 7779 8006 . ? the november issue of the world ' s leading insurance and reinsurance magazine is packed full of news , views and figures ; simply hit the links at the bottom of each item to see the full article . the november features race - based underwriting : haunted by a racist past the discovery of continued race - based underwriting in the us will cost life insurers involved millions of dollars and do untold damage to their reputations - as well as severely embarrassing state regulators integrated risk management : we can work it out the new actuaries reckon they can measure abstruse business risks - and then integrate them with known risks . ? but is there madness in their method ? mga business : the need for continuity capital adequacy : that capital question a . m . best ' s top 100 buyers and sellers in the us : a time of change buyers - the 20 biggest risers and fallers ? sellers - the 20 biggest risers and fallers the fall of reliance : errant insurer ' s battle for survival in the spotlight : harry rhulen for more information about the sponsors of www . reactionsnet . com , please visit their official websites at : renaissance re holdings ltd - http : / / www . renre . com / ipc re ltd - http : / / www . ipcre . bm / gerling global financial products - http : / / www . ggfp . com / e - insuring your business the park lane hotel , london january 26 , 2001 a one - day management symposium discussing insurance , the internet and your business . join mis training and reactions for a day of discussions , insight and knowledge transfer e - insurance and why you need it to protect your business the legal realities and responsibilities you need to know about managing the risks and devising successful risk policies live demonstration for further information please contact daniel carney or alex johnson at mis training on 020 7779 7217 / 8097 . * plus ! * ? industry publications - read the executive summaries and order online ! rbi & reactions insurance management reports : diversification of european insurance and financial services trends in global commercial insurance - the impact of art risk management - new challenges and new solutions opportunities in latin american insurance the outlook for european teleinsurance outlook for insurance in germany uk einvestments reinsurance 4 th edition - industry - standard textbook @ risk - internet and e - commerce insurance and reinsurance legal issues e - nsurance - insurance and the internet revolution http : / / www . reactionsnet . com to advertise or link your company website to this industry circular please contact nick lipinski tel : + 44 ( 0 ) 20 7779 8199 or e - mail mailto : nlipinski @ euromoneyplc . com if you have any problems logging onto or using ? www . reactionsnet . com please call our dedicated help desk + 44 ( 0 ) 20 7779 8006 or email mailto : web - help @ euromoneyplc . com | 0 |
Subject: re : mit financial engineering pro - seminar claudio , i have done it twice in the past . i shall be glad to help again . vince from : claudio ribeiro @ enron 11 / 21 / 2000 08 : 32 am to : vince j kaminski / hou / ect @ ect cc : subject : re : mit financial engineering pro - seminar vince : it was stewart myers , head of the financial engineering track . he did not contact me directly , he contacted josef ( an mit student that spent the summer with enron and received an offer to come to work with us ) . josef wanted to know who could make the commitment of sponsoring ( sending the problem ) . claudio vince j kaminski @ ect 11 / 21 / 2000 08 : 16 am to : claudio ribeiro / corp / enron @ enron cc : subject : re : mit financial engineering pro - seminar claudio . who was the professor who came up with the request ? vince from : claudio ribeiro @ enron 11 / 20 / 2000 05 : 04 pm to : vince j kaminski / hou / ect @ ect cc : joseph hrgovcic / hou / ect @ ect subject : mit financial engineering pro - seminar vince , i have received a call from mit asking if enron would be interested in sponsoring a financial engineering pro - seminar . this means that enron would propose a problem that would have its solution developed by students in the financial engineering track . these students would present the findings in the end . i think that enron has already sponsored a financial engineering pro - seminar . i remember something about real options at the time i was at school . please , let me know if enron has the interest , specifically the research . talking here at the weather desk , mark tawney expressed interest . if you agree , we ( the weather desk ) could co - sponsor this pro - seminar with the research . the idea , then , would be to propose a problem connected to weather trading . please , give me your thoughts about this issue . thanks , claudio | 0 |
Subject: re : flight molly , it ' s ok ( even if the answer is ex post ) . vince enron north america corp . from : molly magee 10 / 19 / 2000 08 : 45 am to : vince j kaminski / hou / ect @ ect cc : shirley crenshaw / hou / ect @ ect subject : flight vince : would this be okay with you ? molly - - - - - - - - - - - - - - - - - - - - - - forwarded by molly magee / hou / ect on 10 / 19 / 2000 08 : 44 am - - - - - - - - - - - - - - - - - - - - - - - - - - - enron capital & trade resources corp . from : jlew @ kent . edu > 10 / 18 / 2000 07 : 30 pm to : molly . magee @ enron . com cc : jlew @ kent . edu subject : flight dear molly , i asked about change of the departure city . they said i should send my ticket back to get a new ticket . since aquila provides the ticket , it ' s hard for me to change the departing place . if possible , can i ask you to arrange the one way flight from houston to seattle on the evening of 25 th ? i ' m sorry for this . thank you very much . sincerely , jaesoo lew | 0 |
Subject: some municipal bonds for you to look at . . . . . i called out muni desk to have them take a look at the current munis avaiable that looked best at this time to invest $ 50 , 000 going out to 30 years for you . the following is what they came up with . . . . pecos co tx cert of obl w / a coupon 5 . 5 % matures in 02 / 01 / 11 callable at par on 02 / 01 / 07 offered at $ 101 . 964 - aaa rated brownsville util rev w / a coupon of 5 . 25 % maturing in 09 / 01 / 15 callable at par on 09 / 01 / 05 offered at $ 97 . 425 - aaa rated alvin tx isd psf w / a coupon of 5 . 75 % maturing in 08 / 15 / 22 callable at par on 08 / 15 / 10 offered at par - aaa rated houston tx air revs w / a coupon of 5 . 00 % maturing in 07 / 01 / 28 callable at par on 07 / 01 / 08 offered at 86 . 479 - aaa rated remember , these are subject to change , but if these interest you and they are not still available , i will see if there is something comparable . talk to you soon . please call me with any questions . thanks , julie | 0 |
Subject: working at home this afternoon i will be working from my home this afternoon after 1 : 30 pm . my extension will be forwarded to my home . if i happen to be away from the phone taking care of my mother , leave a message and i will return your call immediately . there is a generic message on my home phone , " please leave message after tone " , so don ' t worry that you have the wrong number . you may reach me by email at adupont @ pdq . net . in the next several days , i will be set up to dial in and you will be able to use my regualr enron email address . i will be at my desk most days , but until we have mother settled in the rehab facility there may be some days or afternoons that i will be working at home . please do not hesitate to contact me if you need meetings set up or any other thing that you would normally request of me . thanks . anita | 0 |
Subject: joe mccauley ' s papers vince , as promised , these are a couple of references that i have for joe mccauley ' s papers . whether the specific papers are of interest to what exactly we ' re doing or not , i cannot say . on the other hand , given uh ' s drive to create an " econophysics " specialization within the physics department , i thought we could both help them * and * drive it towards a direction that it could be of use to us . i think that they would very much like to hear what the industry would like to see from such a specialization . some of the things that have been discussed as course offerings would be : basic physics courses ( mechanics , nonlinear dynamics , stat . physics , math methods ) various finance courses like options , banking , etc . statistics , math methods , and statistical physics ( that could teach topics like brownian motion , lognormal distributions , fractals , levy flights , and statistics of ' large deviations ' , which are of interest comp science ( java , c + + , data structures , algorithms ) monte carlo simulations etc setting up some sort of exchange , where at minimum we could get summer interns from this program , would also be beneficial to both sides . even better , a wider collaboration between enron and the physics department could be set up . after this message , i will inform joe mccauley and larry pinsky ( departmental chair person ) of your suggestions on how to proceed . i will send shirley their contact information to arrange for a visit at the beginning of june . thanks , yannis | 0 |
Subject: bill koures vince , alex and i did a phone interview with bill koures . he works for williams and had a wall street background . he is very qualified for the work we are doing here ( stochastic modeling , curve building , option valuation , etc . ) he programs in c and matlab . in terms of quantitative skills , bill is better than ren zhang ( koch ) i talked yesterday . the only down side alex and i can think of about mr . koures is that we may not get him due to a higher price tag . zimin | 0 |
Subject: re : operational risk michael , the science of measuring operational risk is in its early stages of development . there are really no cook - book solutions . one has to use creativity and a lot of common sense . vince to : vince j kaminski / hou / ect @ ect cc : subject : operational risk mr . kaminsky , recently , i read articles published by garp and monographs in a book published by garp . although they are excellent sources of introduction to operational risk , none of them have any details on the " how to . " if you know of a good book or book ( s ) could you recommend one ? thank you . michael kim | 0 |
Subject: re : p + spread options jeff , a short follow up on the p + options . attached is a chart showing historical correlations for calendar spreads between futures contracts . it shows correlation over four different time horizons up to the roll of the nearest contract in each pair . as you can see the level is usually higher than 0 . 98 and often near 0 . 99 . if our current book of " index p + " options were re - marked at a 98 % correlation , it would result in a reduction in m - t - m value of about $ 78 million according to my estimate . | 0 |
Subject: re : resume , molly , i would like to invite this student for an interview , sometimes in late december when things slow down . interviews with all my direct reports and george hopley . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 10 / 30 / 2000 09 : 58 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 10 / 24 / 2000 04 : 32 pm to : jinbaek kim @ enron cc : vince j kaminski / hou / ect @ ect subject : re : resume , jinbaek , we shall invite you to an interview in houston . vince jinbaek kim on 10 / 23 / 2000 07 : 25 : 36 pm to : vkamins @ enron . com cc : subject : resume , dear mr . kaminski , hi , i am a ph . d student at ieor department at u . c . berkeley . thanks for your presentation today . it gave me knowledge and interest in electricity markets , and your company . as you mentioned in the presentation , i send a resume to give me opportunity to learn more about your company . i hope i can join the super saturday event . jinbaek - resume . doc | 0 |
Subject: re : confidential sophie , i think it ' s a fair deal . vince sophie kingsley 08 / 30 / 2000 11 : 49 am to : dale surbey / lon / ect @ ect cc : vince j kaminski / hou / ect @ ect , michele small / lon / ect @ ect subject : re : confidential both , thanks for your comments and comparisons , it is good to get context . based on your comments here would be my proposal o 63 , 500 basic salary - ol 5 k kickers for each of the 2 years - these are paid as a lump sum on each anniversary guaranteed . therefore guaranteed salary is effectively o 78 , 500 - this is completely separate and in addition to any performance bonus increase the value of options to o 60 k to vest 1 / 3 as before - which leaves a 1 / 3 ( $ 20 , 000 ) hanging out there at the end of the contract . just fyi - anjam is currently on o 68 , 000 but does not have an agreement , so this would effectively put a 10 . 5 k gap between the two . let me know your thoughts . dale surbey 30 / 08 / 2000 16 : 09 to : sophie kingsley / lon / ect @ ect cc : subject : re : confidential sophie , here ' s vince ' s comments on your proposal for steve . also , what ' s a 2 - yr exec ? how do the kickers work - are they basically a guaranteed minimum bonus or incremental bonus ? - dale - - - - - - - - - - - - - - - - - - - - - - forwarded by dale surbey / lon / ect on 30 / 08 / 2000 16 : 10 - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 30 / 08 / 2000 14 : 21 to : dale surbey / lon / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : confidential dale , thanks for your message . i don ' t know the labor market in london that well but here the market for quants is very hot . steve is in my view an exceptionally talented person and i would go an extra mile to retain him long - term for the company . i would adjust the base salary or the kicker upward a bit . o 62 , 000 basic is what anjam is receiving currently ( if i remember correctly ) . steve has a much higher value to enron than anjam . vince dale surbey 08 / 30 / 2000 07 : 49 am to : vince j kaminski / hou / ect @ ect cc : subject : confidential vince , this is the package hr is proposing for steven . what do you think ? - dale - - - - - - - - - - - - - - - - - - - - - - forwarded by dale surbey / lon / ect on 30 / 08 / 2000 13 : 50 - - - - - - - - - - - - - - - - - - - - - - - - - - - sophie kingsley 29 / 08 / 2000 20 : 32 to : dale surbey / lon / ect @ ect cc : subject : confidential sorry dale , long day , here are the proposed numbers 2 year exec o 62 , 000 basic ( currently o 55 k ) ol 0 k each year kickers $ 50 , 000 worth of options to vest 1 / 3 1 / 3 1 / 3 let me know what you think . regards sophie | 0 |
Subject: re : change - video to teleconferences - enron christie , meeting at 5 : 30 is fine with me . the presentation is at 6 : 30 . i sent you a message regarding a dinner on tuesday . can you join me and ken parkhill ? vince from : christie patrick on 02 / 16 / 2001 10 : 19 am to : vince j kaminski / hou / ect @ ect cc : subject : change - video to teleconferences - enron hi vince ! thanks for the information below ! i spoke with tom piazze today . i ' ll be meeting with him at 3 : 30 on the 20 th to discuss the webi contract . i ' ll also be meeting with wharton ' s broadband ( technical people ) before our meeting with the students . further , i hope to meet with the people in charge of the business plan competition . tom suggested you might want to call howard kurnreuther ( sp ? ) and possibly stop in to see him while we are at wharton . i ' ll be getting to wharton sometime tuesday ; i ' ll try to get a reservation at the inn at penn . i ' ll then be leaving early wednesday morning by train to new york . shall we meet in tha lobby at the inn at penn before going to meet the students ( i think the meeting with the students is at 6 pm - ish ) - - say , 5 : 30 ? please let me know ! also , we still need to give wharton an answer as to whether we ' re interested in another $ 50 , 000 investment in efellows . thanks vince ! have a great wekend ! - - christie . - - - - - forwarded by christie patrick / hou / ect on 02 / 16 / 2001 10 : 13 am - - - - - vince j kaminski 02 / 16 / 2001 10 : 06 am to : christie patrick / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , kenneth parkhill / na / enron @ enron subject : change - video to teleconferences - enron fyi vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 16 / 2001 10 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - - fap on 02 / 16 / 2001 08 : 35 : 22 am to : clay degiacinto , deepa mallik , dennis feerick , heather thorne , jack rejtman , jason cummins , kim whitsel , nicholas levitt , omar bassel , ram vittal , steve lessar , thomas , tulika bhalla , vincent chen cc : fap , " ' vkamins @ enron . com ' " , " ' patterm @ wharton . upenn . edu ' " subject : change - video to teleconferences - enron 3 / 1 shdh 215 3 / 22 shdh 215 3 / 29 shdh 215 please note that the remaining videoconferences scheduled with enron have been changed to teleconferences due to the difficulties we have experienced . the host has agreed and we will , therefore , continue with teleconferences in the same locations / dates as noted above . any questions , please contact the fap office . thanks , donna | 0 |
Subject: re : evaluations - enron - reminder > please pass this along to others who may have worked with the students . > > to : tiger hosts > > from : field application project office > the wharton school > university of pennsylvania > > re : tiger team evaluations > > thank you for hosting the tiger team project , field application project > 2001 . this opportunity provided the student team a worthwhile experience > to apply newly acquired skills to a real world issue facing your company . > your dedication and support of the project contributed greatly to its > success . > > hopefully , by now you have had the opportunity to review the final > reports . please take a moment to complete the host evaluation form > available at : ( use internet > explorer ) > > username : tiger > password : fap 2001 ( no space between ) > ( note : case sensitive , please use lower case ) > deadline for acceptance : wednesday , april 25 , 2001 > > your feedback is important to us . it is taken into consideration when > calculating student grades and when implementing changes that will impact > and enhance the program in the future . also , in an effort to insure the > return of meaningful and contributing host companies , we ask that you > indicate your interest in returning as a host next year and the fap office > will contact you in september 2001 . > > thank you again for your support of the wharton school and participation > in the field application project this year . we look forward to working > with you in the future . > > if you have any questions , please contact the fap office at ( 215 ) 573 - 8394 > or email : fap @ management . wharton . upenn . edu > > > sincerely , > donna piazze > program director > field application project | 0 |
Subject: from the enron india newsdesk - april 27 th newsclips fyi news articles from indian press . - - - - - - - - - - - - - - - - - - - - - - forwarded by sandeep kohli / enron _ development on 04 / 27 / 2001 08 : 24 am - - - - - - - - - - - - - - - - - - - - - - - - - - - nikita varma 04 / 27 / 2001 07 : 51 am to : nikita varma / enron _ development @ enron _ development cc : ( bcc : sandeep kohli / enron _ development ) subject : from the enron india newsdesk - april 27 th newsclips friday apr 27 2001 , http : / / www . economictimes . com / today / cmo 3 . htm dpc board empowers md to cancel mseb contract friday apr 27 2001 , http : / / www . economictimes . com / today / 27 compl 1 . htm mseb pays rs 134 cr under ' protest ' to dpc friday , april 27 , 001 , http : / / www . businessstandard . com / today / economy 4 . asp ? menu = 3 enron india md authorised to terminate ppa friday , april 27 , 2001 , http : / / www . financialexpress . com / fe 20010427 / topl . html foreign lenders slam brakes on disbursements to dpc , sanjay jog & raghu mohan global banks comfortable with enron pull - out friday , april 27 , 2001 , http : / / www . indian - express . com / ie 20010427 / nat 23 . html enron : dabhol chief gets powers to end deal with the mseb friday , april 27 , 2001 , http : / / www . the - hindu . com / stories / 0227000 d . htm offer of renegotiation ' too late ' : enron , by mahesh vijapurkar friday , 27 april 2001 , http : / / www . timesofindia . com / today / 27 home 2 . htm enron ready to pull out , but lenders say wait friday , april 27 , 2001 , http : / / www . hindubusinessline . com / stories / 142756 dh . htm dpc board authorises md to issue ppa termination notice friday , april 27 , 2001 , http : / / www . dailypioneer . com / secon 2 . asp ? cat = story 7 & d = front _ page enron testing maharashtra ' s nerves , t n raghunatha friday , april 27 , 2001 , http : / / www . telegraphindia . com / enron signal to switch off dabhol power friday , april 27 , 2001 , http : / / www . thestatesman . org / page . news . php 3 ? id = 13026 & type = pageone & theme = a enron threatens to pull out friday , april 27 , 2001 , http : / / www . chalomumbai . com / asp / article . asp ? cat _ id = 29 & art _ id = 10006 & cat _ code = 2 f 574841545 f 535 f 4 f 4 e 5 f 4 d 554 d 4241492 f 5441415 a 415 f 4 b 4841424152 ' dpc may not wind up ' friday , april 27 , 2001 , http : / / www . chalomumbai . com / asp / article . asp ? cat _ id = 29 & cat _ code = 2 f 574841545 f 535 f 4 f 4 e 5 f 4 d 554 d 4241492 f 5441415 a 415 f 4 b 4841424152 & art _ id = 9953 enron offers ' no comment ' on renegotiation , h s rao http : / / www . afternoondc . com / ' enron ' s on ! ' state govt . to renegotiate dabhol power project , by hubert vaz the economic times , friday apr 27 2001 dpc board empowers md to cancel mseb contract the enron power project crisis on thursday deepened with the board of dabhol power company authorising the management to issue a termination notice to the maharashtra state electricity board even while international lenders to the project asked enron to renegotiate power purchase agreement signed with the mseb . the decision to authorise managing director neil mcgregor to issue " notice of termination on the contract to sell 740 mw of power " was taken after the board prevented mseb from voting on the ground that it was an interested party . the decision was taken with six votes in favour and the single opposition vote was cast by idbi , sources said . according to reports , financial institutions such as anz investment bank , credit suisse first boston , citibank , abn - amro and the state bank of india have on wednesday advised enron against terminating its ppa with mseb . mseb chairman vinay bansal , who with two other directors attended the meeting on wednesday representing maharashtra ' s 15 per cent stake in the near $ 3 - billion project , said : " the indian side told them that it would be unfortunate if enron broke the contract . " while bansal declined comment on the board decision , the sources said the indian side had expressed its interest to holds talks on the issue rather than terminating the project and there were possibilities of a fresh power purchase agreement between the company and the state . ( pti ) the economic times , friday apr 27 2001 mseb pays rs 134 cr under ' protest ' to dpc despite the threat of a possible termination notice hanging on its head , maharashtra state electricity board on thursday made a " protest payment " of rs 134 crore disputed amount , towards march bill of rs 146 . 64 crore to dabhol . " we were ready with the payment on wednesday itself , but dpc officials could not collect the cheque due to the statewide bandh " , a senior mseb official said . " we have disputed payment of rs 12 . 64 crore and it would be now taken up at the disputes resolution forum , of which enron india managing director k wade cline and krishna rao are members " , mseb sources said . last week , dpc had dashed off a communication to the government and mseb that it would not accept " protest payments " anymore . cline had said the energy major shall treat such payments as an election to pay the sums , which mseb in fact owed dpc in full and that the company would also not recognise the " purported protest or reservation " . mseb had paid a rs 113 . 5 crore february bill in protest last month . on april 23 last , both domestic and international lenders of dpc had met in london and held exhaustive discussions the multinational ' s move to issue a termination notice to mseb and state government . ( pti ) business standard , friday , april 27 , 001 enron india md authorised to terminate ppa the board of the enron - promoted dabhol power company ( dpc ) , at its meeting in london on wednesday , authorised the managing director of enron india to issue a notice for terminating the power purchase agreement to the maharashtra state electricity board and the state government . " the board has authorised wade cline to serve the termination notice . however , this does not mean that the termination notice will be served immediately . it is only an enabling provision and will be used only if the situation arises , " a state government source told business standard from london . he said dpc was under pressure from its lenders . the dpc spokesperson here refused to comment on the issue . the hardening of the board ' s stand is in sharp contrast to the advice of dpc ' s lenders , who had warned enron not to precipitate matters by issuing a termination notice . the lenders had arrived at a consensus that the termination notice need not be served at this stage . serving of the notice requires a nod from the lenders , who have an exposure of about $ 2 billion in the project . sources said given the lenders ' strong opposition to termination of the contract , the enron board ' s " enabling resolution " did not have much significance beyond conveying a hardening of its stand with regard to the current imbroglio . the maharashtra chief minister had warned enron not to scuttle the process of crisis resolution by issuing a termination notice . the state government is to nominate an expert group to renegotiate the terms of the dabhol contract . enron holds 65 per cent in dpc , while us - based ge and bechtel hold 10 per cent each . the balance 15 per cent is held by mseb through a special purpose vehicle , maharashtra power development corporation . the mseb representatives were not allowed to vote at the meeting since they were an interested party . the idbi representative protested against the board ' s decision . the meeting was attended by state energy secretary vm lal . the meeting was held against the backdrop of a dispute between mseb and dpc over payment of bills . after mseb failed to pay rs 102 crore towards the december 2000 bill , dpc invoked the state government ' s guarantee and then the union government ' s counter guarantee . when payment of the rs 127 - crore january bill became overdue , dpc again invoked the state government ' s guarantee . mseb retaliated on january 28 , 2001 by slapping a rs 401 - crore penalty for non - supply of electricity at adequate levels . it demanded that dpc adjust the bills against this penalty . " this stand of mseb was explained to dpc at the board meeting " , a state government official said . the centre also supported mseb ' s stand and refused to honour the counter guarantee . the power company then invoked the political force majeure clause . a process of conciliation and arbitration between the centre and dpc is currently on . the financial express , friday , april 27 , 2001 foreign lenders slam brakes on disbursements to dpc , sanjay jog & raghu mohan global banks comfortable with enron pull - out lenders to the dabhol power company ( dpc ) are a sharply divided lot . international lenders , in direct contrast to the stand taken by local ones led by the the industrial develoment bank of india ( idbi ) , are categorical that additional assistance to dpc ' s phase - ii will be held in abeyance despite the completion of 92 per cent of the project work . the stage is also set for a preliminary termination notice to be served by dpc to the maharashtra state electricity board ( mseb ) within the next four weeks . this follows the authorisation given to enron india ' s managing director k wade cline and dpc president & ceo neil mcgregor to serve the termination notice , and transfer notices to mseb , following wednesday ' s dpc board meeting in london . the essence of the message from the international lenders following the london meeting with dpc board is : emotions do not work . contractual obligations and payments have to be met . we are convinced that the mseb has failed to meet its obligations . there is no point in enron continuing with the project and the company should get out of it . the structuring of dpc ' s debt has created two classes of lenders . in phase - i , international lenders are covered by a sovereign guarantee while in phase - ii , no lender is . however , all lenders have a parri passu charge , making attachment of assets a messy affair . sources in international banks were quick to point out that local lenders to phase - ii of the project are worried that an awry dpc project will affect their interests more given that they have no security - other than assets - like a sovereign cover . " it was this desperation that made local lenders like idbi slash the interest rates a few months back to 16 . 5 per cent from 21 . 5 per cent , " a leading foreign banker pointed out . three points that were made clear and stressed in no uncertain terms by international lenders were : a ) there are contractual obligations b ) mseb was not punctual in its payments to dpc and c ) mseb adopted a confrontational position by slapping a rs 401 crore rebate charge on dpc for misdeclaration and default on the availability of power . while local lenders led by idbi - with mseb parroting the same - were of the view that the current situation is a temporary one , international lenders were steadfast that pulling out of the project is the only way out . this is despite the stance taken by idbi and mseb that authorisation for termination given to mr cline and mr mcgregor was not called for . international bankers pointed out that they will now have to look at the issue of charges and protection for their loans in the event of the power project being scrapped in its present form . the points of contention are : a ) that phase - i of dpc is backed by a sovereign guarantee b ) phase - ii is not and c ) to the extent that phase - ii is covered by assets , cancellation of phase - ii may see all assets - even those under phase - i - getting attached . therefore , an examination on the segregation of assets under phase - i and phase - ii is now warranted . pti adds : in a significant move , dpc board has empowered its management to sever power supply agreement with mseb , a move that could inflict a financial liability of about rs 2840 crore on the centre . a decision to authorise dpc president neil mcgregor to issue a termination notice to mseb for sale of power was taken by the board at its meeting on wednesday . the indian express , friday , april 27 , 2001 enron : dabhol chief gets powers to end deal with the mseb the board of dabhol power company , a subsidiary of houston - based enron corp , has decided to warn the maharashtra state electricity board ( mseb ) that it intends to pull the plug on its guhagar - based project . in a board meeting held in london on wednesday , the board decided to authorise dpc president and ceo neil mcgregor and enron india ' s managing director k wade cline to serve a ' ' preliminary ' ' termination notice for sale of power to the mseb within the next four weeks . the dabhol project has been mired in disputes since mseb began missing payments last year . mseb owes dabhol power $ 48 million for power delivered in december and january . the payment ran into a dispute after mseb slapped penalty notices of rs 401 crore on dpc for its failure to supply power within three hours of the demand being placed . but mseb has paid $ 24 million for february . and a payment of $ 31 million was made for march on thursday . the $ 3 billion dabhol project is the largest foreign investment made in india to date . issuing the preliminary termination notice could enable dabhol to suspend deliveries as it negotiates payment disputes . while a preliminary termination notice is the first of three steps that could potentially lead to the abandonment of the project by enron , analysts have described the decision as a ' ' procedural ' ' move consistent with dpc ' s negotiating strategy to recover overdue payments from the mseb . after the company issues the preliminary termination notice , step two would be an official termination notice , and step three would be a notice that the company is surrendering control of the project . if the project is terminated , the government of india will have to take a hit of $ 300 million besides paying bills of rs 1 , 500 crore for the next one year to enron as penalty . ' ' our ( centre ' s ) liability , if dabhol power project is terminated , would be one year ' s electricity bill and a termination fee of $ 300 million , ' ' power secretary a k basu said . ' ' contractually , the centre will have to pay one year ' s electricity bill , totalling at present prices about rs 1 , 400 - 1 , 500 crore , and take over dpc ' s debt , which stands at around $ 300 million , if the project was terminated , ' ' basu said in delhi . dabhol power is in the process of completing the second phase of the 2 , 184 - megawatt power - plant project , which is 95 per cent through . while the international lenders to the project are pressurising the company to get out of the project , indian lenders , led by idbi , are asking the company to reconsider its decision on its termination notice . during the meeting in london , mseb which holds a 15 per cent stake in the project , had strongly opposed dpc ' s move to authorise cline and mcgregor to issue notices for termination . mseb chairman vinay bansal and technical director prem paunikar - both directors on the dpc board - and the state principal secretary ( energy ) vm lal , an invitee to the board , raised the issue at the board meeting in london . mseb claimed that dpc was needlessly ' ' threatening ' ' to issue various arbitration notices and thereby interpreting the clauses of ppa in isolation . in recent weeks , dabhol has raised the stakes in its spat with the mseb , delivering a notice of political force majeure to maharashtra - a step typically invoked to dissolve a contract in case of an emergency like a war , coup , or a similar radical political event . in this case , dpc ' s move was viewed as a threat to stop providing electricity . dpc has come under fire because of the relatively high cost of its power . critics object to the company charging rs 7 . 1 a kilowatt - hour for its power , compared with around rs 1 . 5 a kilowatt - hour charged by other suppliers . the hindu , friday , april 27 , 2001 offer of renegotiation ' too late ' : enron , by mahesh vijapurkar mumbai , april 26 . the enron - sponsored dabhol power company , which last night authorised its local management to issue a notice of termination of its power purchase agreement ( ppa ) with the maharashtra state electricity board , has decided to keep a stiff upper lip . this , in turn , has stoked speculation that the switching off of power from its phase i plant was imminent , while in reality , a lengthy procedure has to be followed as prescribed within the ppa . as one source familiar with the ppa told the hindu , ` ` it is not sudden death of the project ' ' and in all probability , the dpc , vexed with the developments , including sharp and pointed observations by the godbole committee , has chosen to only arm itself with a serious option . ` ` this would only eventually come into effect . it is not an overnight operation and a lot of legal work is involved ' ' . apparently , the dpc intends to do some arm - twisting . at the board of directors meeting in london , which maharashtra was initially disinclined to attend but later used the forum to put across its contentions on the project , the dpc squarely told the mseb nominees on the board that the offer of renegotiation had come rather ` ` too late ' ' . it also said it did not see any room for optimism about the outcome . it did not , however , rule out the option of talks , thus underscoring the possibility that the decision to authorise termination was a new weapon . the maharashtra chief minister , mr . vilasrao deshmukh , had hoped that dpc would not take any ` ` harsh step ' ' which would cause lot of damage to the interests of both the independent power producer and the government and today he expressed his dismay . in fact , the mandate of the team that went , on the strength of its stake in the dpc , was to put across the idea that negotiation was the requirement and not confrontation . echo in ls the enron issue also echoed in the lok sabha today where the power minister , mr . suresh prabhu , said that scrapping of the agreement would cost the centre rs . 2 , 840 crores , whose liability in the project agreement was limited . the centre ' s liability in case of termination is one year ' s electricity bill and a termination fee of $ 300 million . blow to fis the termination could prove to be a serious blow to the indian financial institutions ( fis ) which , under the leadership of the idbi , were trying to convince the other lenders of the project against the notice . the exposure of indian fis in the project is understood to be not covered by any guarantee either of the centre or the state . the times of india , friday , 27 april 2001 enron ready to pull out , but lenders say wait the dabhol power company board , which met on wednesday in london , authorised the company management to issue a termination notice to the maharashtra state electricity board . the company , however , may not pull out of the project yet , considering its lenders , who met on monday , opposed such a move and favoured renegotiations . sources present during both the meetings said that though foreign lenders supported enron on the termination issue , domestic financial institutions , led by the industrial development bank of india , prevailed over the deliberations to oppose any such drastic move . enron needs the lenders ' consent to file a pre - termination notice for pulling out from the project . the decision to empower dpc chief wade cline to issue a termination notice was taken with six votes in favour against a single idbi vote against such a move . another significant development during the entire proceedings was that the financial institutions made it clear that further funding of phase ii of the project will depend on the government of india assuring payment mechanisms . institutions are yet to disburse about 30 per cent of the sanctioned package , which is crucial for completing the phase ii expansion project . ` ` the board has given powers to wade cline to issue a pre - termination notice . but the meeting quite unanimously felt the need of the hour is not to terminate the project but to initiate serious re - negotiation proceedings , ' ' said mseb chairman vinay bansal , who attended the board meeting . ` ` mseb presented their views to the board members and it was understood by enron which also included the rs 401 crore penalty issue which is heading for arbitration proceedings . ` ` we have also made it clear that the tariff structure of enron is quite high and a downward revision of tariffs is unavoidable , " bansal added . ` ` they cannot issue a termination notice without our consent since our exposure in the project is quite large and the lenders should approve any plans in that direction , ' ' said a top banker who was present during the lenders ' meet . ` ` there is a general consensus that the project must be completed and the proposal to terminate the ppa should be kept in abeyance , ' ' he added . the global arrangers for the dpc include anz investment bank , credit suisse first boston , abn - amro , citibank and the state bank of india , where all these parties conducted separate meetings with the company officials . however , some bankers said the company can file a termination notice even if one lender with a minimum 5 per cent exposure on the project favours such proceedings . meanwhile , in a clear reversal of roles , maharashtra chief minister vilasrao deshmukh said that the state government was not keen on terminating the ppa . ` ` we will ask them to refrain from taking any such harsh steps since that would be bad news for all of us , including dpc , ' ' deshmukh said . deshmukh was echoing union power minister suresh prabhu ' s sentiments , who said that the government wanted an amicable settlement of the payment row . he , however , added that termination of the project would not hurt foreign investments , and dismissed warnings by analysts that winding up the $ 2 . 9 billion project would be a blow to india ' s efforts to woo foreign investors . the dpc has already slapped one conciliation notice on the centre and three arbitration notices on the state government over non - payment of dues amounting to rs 213 crore and interest towards the bills due for december 2000 and january 2001 . meanwhile , mseb officials said in mumbai that the march bills amounting to rs 134 crore was paid on thursday as protest payment , despite the dispute over the amount . when asked on the future course of action , bansal said it was up to the dpc . the hindu businessline , friday , april 27 , 2001 dpc board authorises md to issue ppa termination notice the board of directors of dabhol power company ( dpc ) has authorised the managing director , mr neil mcgregor , to issue the notice of intent to terminate its power purchase agreement ( ppa ) with the maharashtra state electricity board ( mseb ) ` ` at an appropriate time ' ' . the decision was taken at a board meeting held in london yesterday . ` ` while mseb , which is an ` interested party ' , was not allowed to vote , it made a presentation clarifying its stand on the matter , ' ' a senior state government official said . the resolution to authorise the management to issue the termination notice was carried by six votes to one . idbi voted against the decision , the official said . the serving of the preliminary termination notice will lead to a six - month ` ` suspension period ' ' . according to clause 17 . 8 of the termination procedure , of the ppa : ` ` following the giving of a preliminary termination notice , the parties shall consult for a period of six months ( or such longer period as they may agree ) as to what step shall be taken with a view to mitigating the consequences of the relevant event having regard to all the circumstances . . . ' ' idbi and state bank of india , the principal indian lenders , had earlier persuaded the overseas lenders to hold their consent to the termination notice for some more time . at least one lender has to consent for the company to serve termination notice . it is understood that overseas lenders are in favour of termination of the project and are prepared to consent . however , domestic lenders are worried about the security of their advances if the ppa is abandoned mid - way . according to institutional sources , indian lenders are trying to get all the parties concerned to thrash out outstanding issues . the maharashtra and central governments too are in favour of a conciliation . mr vilasrao deshmukh , chief minister of maharashtra , yesterday went on record that the state did not want the project terminated . mr yashwant sinha , union finance minister , is also understood to be of the same opinion . ` ` the dpc will now have to decide what is the ` appropriate time ' to serve the notice , ' ' the official said . mseb pays rs 134 crore : meanwhile , mseb has paid dpc rs 134 crore towards its march 2001 bill . mseb officials confirmed that the bill was paid ` in protest ' ' today morning . ` ` they ( dpc ) had billed us for an amount of rs 146 crore . we do not agree with some of the items included , ' ' a senior mseb official said . the pioneer , friday , april 27 , 2001 enron testing maharashtra ' s nerves , t n raghunatha dabhol power company ( dpc ) has begun to put fresh pressure on the maharashtra state electricity board ( mseb ) , the maharashtra state government and the centre for an early resolution to the prolonged dispute between them , if the dpc board of directors ' decision to authorise its managing director to serve a contract termination notice to the mseb is any indication . the dpc board , in its meeting in london on wednesday , empowered the company management to sever its power supply agreement with mseb , a move that could inflict a financial liability of rs 2 , 840 crore on the centre . the decision to authorise the dpc management to issue a termination notice to mseb was taken by a vote of six to one after the maharasthra government representatives were prevented from voting on the ground of " interested party " . when contacted , the company ' s mumbai - based spokesperson , mr jimmy mogal , declined to comment on the reports about the decision taken by the dpc board . " we have nothing to say on the reports emanating from london . we will express our views after a few days , " he said . however , maharashtra chief minister vilasrao deshmukh on thursday termed the dpc board ' s decision as " unfortunate " . " we have already requested the company not to take any harsh decision " , mr deshmukh said in mumbai . official sources in the state energy ministry interpreted the dpc board ' s decision as a pressure tactic employed by the enron subsidiary to force the mseb to clear the pending power bills without any further delay . through its tough posture , the dpc wants to make its position stronger before it can formally agree for re - negotiations with the mseb , the centre and the state government for cutting the price of power supplied by it to the state electricity board . the sources said that the dpc ' s reported decision to authorise its managing director to stop electricity supply to the mseb did not mean that the enron subsidiary would actually go ahead with the scrapping of the power contract with the mseb . " if anything , the dpc ' s reported decision is to mount additional pressure on the mseb for clearance of pending power bills and put itself in a stronger position in settling its dispute with the mseb . as part of its plan to arm itself with powers to break a contract in case situation goes beyond its control , the dpc had recently served a political force majeure to the mseb , the centre and the state government , " the sources said . not surprisingly , the dpc ' s london decision comes on the heels of the maharashtra government ' s decision to set up a high - level committee , comprising representatives of the mseb , the centre and the state government to re - negotiate with the enron ' s subsidiary company for reducing the cost of power supplied to the state electricity board . meanwhile , amidst the threat of a possible termination notice hanging on its head , the mseb on thursday made a " protest payment " of the rs 134 crore disputed amount towards march bill of rs 146 . 64 crore to dpc . riday , april 27 the telegraph , friday , april 27 , 2001 enron signal to switch off dabhol power enron today took the first decisive step out of the controversy - ridden dabhol power company when it won an authorisation from the company ' s board to stop sale of power to maharashtra state electricity board ( mseb ) . the meeting of the company , of which the houston - based energy giant holds 65 per cent and the mseb 15 per cent , was attended by state energy secretary v m lal and mseb technical director p paunikar and it came days after its lenders discussed payment problems and a possible termination . the centre ' s liability , if enron decides to snap the agreement , will be a year ' s power bill and a termination fee of $ 300 million . however , the company will have to wait for six months from the day it serves the notice before it pulls the plug . the centre shrugged off the move , saying there would not be any adverse effect on foreign investment in power if enron walks out . " we do not see fdi inflows into the power sector being hit , " power minister suresh prabhu said . mseb officials said the ball is now in the court of dpc , which said its corporate policy did not allow it to comment on proceedings at board meetings . the decision coincided with a rs 134 - crore ' protest payment ' by the cash - strapped power board as part of the march bill worth rs 146 . 64 crore . there was speculation that mseb coughed up the amount to cool frayed tempers at enron ' s hub in houston , and because it was rattled by the sudden turn of events in the past few days during which the dispute had come to a head . mseb officials brushed away the allusions , saying the cheque was ready on wednesday but could not be handed over to dpc because of the state - wide bandh . " we have a disputed payment of rs 12 . 64 crore , which will be taken up at the dispute - resolution forum , " a board official said . last week , dpc told the state government and mseb it would no longer accept protest payments in a move to fortify its legal position . mseb officials say bechtel and general electric , the other partners who hold around 20 per cent in dpc , are willing to go along with enron corp in terminating the deal but financial institutions such as idbi are not game because it puts their loans at risk . investments made by indian institutions are not covered under the centre ' s and state ' s counter - guarantees , unlike those made by international lenders . maharashtra chief minister vilasrao deshmukh called enron ' s decision unfortunate . " we had told state government officials attending the enron board meeting to stop the company from winding up its operations in the state as it will harm both parties . " the statesman , friday , april 27 , 2001 enron threatens to pull out the enron crisis deepened with the board of directors of the dabhol power company deciding to authorise the managing director , mr k wade cline , to serve a notice of termination on the contract for the first phase of the $ 2 . 9 billion power project . the decision , which could lead to the cessation of dabhol ' s power supply to the state , was taken at the meeting held yesterday in london according to reports quoting the chairman of the maharashtra state electricity board , mr vinay bansal . while dpc officials refuse to comment on anything , it is learnt that mseb was itself prepared to serve a legal notice of termination just two days before the meeting . mseb was said to have been dissuaded by the nationalist congress party president , mr sharad pawar , and union power minister mr suresh prabhu , who had talks in new delhi with the maharashtra chief minister , mr vilasrao deshmukh , and an mseb delegation last monday . the state government has been served two arbitration notices while the centre is ready to go for conciliation with the dpc for failing to honour its counter - guarantee . further , the dpc has already slapped a notice of political force majeure which protects itself against undeserved claims in the event of exigencies that force it to take an extreme step . the union power minister , mr suresh prabhu , contended in delhi that since dpc contributed only 0 . 7 per cent of the total energy output of the country , its termination would not have such a phenomenal impact on the power situation . however , if terminations proceedings go through , enron corp , a 65 per cent share - holder in the dabhol power company , would stand to net a hefty amount in damages . the union power secretary has been quoted as saying that termination of the dpc would cost the centre rs 1 , 800 crore , which is the total of one years ' electricity bill and a termination fee of $ 300 million . according to an energy analyst , mr pradyumna kaul , the total liability would not cross rs 350 crore . however mr prabhu said in the lok sabha today that the that scrapping of the agreement would cost the centre rs 2 , 840 crore . it is learnt that on 20 april , mr deshmukh had given the go - ahead to the mseb to prepare a legal notice to be issued to enron during the meeting of the dpc ' s board of directors on wednesday . at the meeting , the energy minister , padamsinh patil , energy secretary , mr vinay mohan lal and mseb chairman mr vinay bansal , were also present . the notice was prepared over the past weekend and taken by the delegation when they called on mr prabhu on 24 april . however , the politicians convinced them that enron would not get tough , given its huge stake in the project , and that such a notice would not be necessary . the meeting thus ended with the decision to renegotiate the power tariff , with enron ' s consent . among those present at the london meeting were mr lal , mr bansal and mseb technical director , mr p paunikar , in their capacity as directors . however , they abstained from voting since they were deemed an interested party . the only vote to go against the decision was that of the idbi which is also represented on the board , it is learnt . the chief minister , mr vilasrao deshmukh , said the state was not in favour of terminating the project . this could mean that the latest manoeuvre to arm - twist the indian authorities could achieve its immediate target of getting the arrears accumulated over the past three months cleared . the mseb owes enron rs 146 . 64 crore for march 2001 and rs 229 crore for december 2000 and january 2001 . the centre today put up a brave face on enron ' s decision saying there would not be any adverse effect on foreign investment in power sector in the country , pti reported from new delhi . " there will be no adverse impact as a result of any action by any domestic or foreign company . as far as we are concerned there will be no adverse impact on fdi in power sector , " power minister suresh prabhu told reporters when asked about dpc ' s decision to authorise management to issue a termination notice to mseb . emphasising that there would be no fallout of such decision , prabhu said after the meeting of the cabinet committee on economic affairs " we are expecting cooperation from many scandinavian countries as well as european nations in the power sector . " in fact not only the power minister but also the prime minister of norway was here to inaugurate a seminar on power and he promised lot of cooperation in the sector . " mid day ' dpc may not wind up ' maharashtra chief secretary v ranganathan has said that though neil mcgregor , managing director of the dabhol power corporation ( dpc ) , has been given complete powers with regard to dpc ' s operations in the state , including the authority to wind up operations , it does not necessarily mean that mcgregor will issue such a termination notice . mcgregor was given the powers at a meeting of the dpc board in london on wednesday . ranganathan said that state officials , including maharashtra state electricity board ( mseb ) chairman vinay bansal and power secretary v m lal , have reported back to him about the meeting in london . with regard to the state ' s failure to pay enron , ranganathan said , " bills are prepared as per the power purchase agreement ( ppa ) and dpc owes some money to us . our people informed enron officials about this . . in fact , there was no reason to give powers to the md to slap a termination notice . " in the london meeting , mseb and industrial development bank of india ( idbi ) representatives insisted that the dpc must pay rs 411 crore since it could not supply power whenever needed . chief minister vilasrao deshmukh has already termed as unfortunate the decision of the board of the enron - promoted dpc to give mcgregor powers to wind up operations . deshmukh added , " we have already requested enron not to take any harsh decision . " deshmukh had earlier said , " we have directed state government officials attending the dpc board meeting to desist the energy company from winding up operations in the state , as it would be harmful to both of us . " enron officials are keeping mum on the issue . mcgregor said , " i am not going to give any comment . " mid day , april 27 , 2001 enron offers ' no comment ' on renegotiation , h s rao a crucial meeting of the board of directors of the dabhol power company ( dpc ) , promoted by the us energy major enron , was held here yesterday apparently to discuss fate of its $ 900 - million power project in maharashtra , but there was no official word on the indian and state governments ' decision to renegotiate the contract . an enron spokesman declined to divulge what transpired at the meeting , saying the issues discussed at the meeting were ' confidential ' . " we have not received any direct communication . unless we get it and evaluate the details , we have no comments to make , " the spokesman said when asked about the proposed decision on re - negotiation of the project in which the maharashtra state electricity board ( mseb ) has 15 per cent stake . asked whether the board had taken a decision on empowering dpc managing director neil mcgregor to wind up its operations in india , the spokesman said he had nothing to say on them . enron has reportedly authorised mcgregor to look at various options including selling the company ' s stake in dpc . maharashtra chief minister vilasrao deshmukh said in mumbai that the state government would pay up the undisputed dues to the company . he said the maharashtra government " is not in favour of terminating the 2184 - mw project , but wanted an amicable solution to the imbroglio . " mid day , friday , april 27 , 2001 , committee to renegotiate enron deal a committee to renegotiate the power purchase agreement with the dabhol power company will be appointed by this evening , chief minister vilasrao deshmukh said today . addressing media persons after his meeting with the noted social reformer anna hazare at his official residence varsha , deshmukh said the committee would be formed by this evening or by tomorrow , at the most . he termed as unfortunate the enron board decision empowering dpc chief neil mcgregor to serve a preliminary termination notice on the maharashtra state electricity board and said the state was willing to negotiate the issue with power company . " renegotiations will be held as per the suggestions made by the godbole committee and the center will also depute its representative on the renegotiating committee . we don ' t want to take any hasty decision , " deshmukh saidhe pointed that the only bone of contention with the dpc had been its expensive tariff and hoped that the issue would be resolved amicably . when pointed that the enron board had taken a decision to serve the notice despite state s willingness to appoint a renegotiating committee , chief minister said it was unfortunate . earlier , in his meeting with hazare , deshmukh promised to make necessary amendments to the right to information law recently passed by the state so that the information was easily accessed by the common people . he also gave a patient hearing to hazare on his complaints of corruption in various state departments and promised action against guilty after a thorough inquiry within three months . afternoon , april 27 , 2001 ' enron ' s on ! ' state govt . to renegotiate dabhol power project , by hubert vaz the us power giant , enron power corporation ' s willingness to wrap up the dabhol power project and leave the shores may not actually materialise , though the dabhol power company chief , mr . wade cline , has been authorised to do so , since the lenders for the project would have a decisive say in the matter . disclosing this , chief minister vilasrao deshmukh confirmed this morning that the state government would churn out a compromise formula by which the power project at dabhol could be continued , and at the same time enron did not feel slighted . " enron has not yet conveyed to us about this decision . we are waiting for their letter , " he said . when asked what sort of compromise the state government plans to forge , mr . deshmukh said , " let our officers come back . after that we will decide a future course of action . but we are definitely going in for renegotiation of the project . it is very difficult to predict the outcome of enron ' s decision but as of now the project is still on . " when asked whether the project could be moved to another state , if wound up from maharashtra , mr . deshmukh said , that was not possible as per the terms of the agreement between the us company and the state government . however , it was difficult for the project to move out of the state itself , he indicated . he also confirmed that both parties would face considerable losses if the project was terminated . the board of directors of the dabhol power company , which met in london on wednesday , decided to put an end to all controversies surrounding the project once and for all by empowering the dpc chief to terminate the project , if he deemed it fit . however , this decision , as of now , does not necessarily indicate the death knell for the project . the enron project , which had been riddled with controversies right from its inception , had been a pretext for the political parties in the state to drag each other on the mat from time to time . the previous sena - bjp government , which had been out to terminate the project , however , chose to continue with it following renegotiations with enron ' s top visiting officials like ms . rebecca mark . and , the democratic front government inherited the controversial project when the governments changed hands a year and a half ago . meanwhile , state energy minister dr . padamsinh patil , when contacted at the osmanabad circuit house , said the state government and the central government have decided to appoint a joint committee to renegotiate the project with enron . " it is not easy for them to walk out of the project just like that . they will have to go in for litigation and this would prove costly for both sides , " he said . in case the project is terminated , the government can still manage the power needs of the state , though it would be a bit tough job , he added . | 0 |
Subject: re : pending approval for ibuyit request for wincenty ( vince ) kaminski : eva : remedy 412144 vince , welcome to ibuyit , enron ' s integrated procurement through payment solution . your ibuyit security form has been processed . here is your ibuyit eprocurement logon information : user id : po 0503778 password : your date of birth ( format : yyyymmdd - - 19670120 for january 20 , 1967 ) important : when you first log on to ibuyit eprocurement , you will be prompted to change your password . you may use the same password you enter when logging on to other sap - related applications , e . g . , ehronline . should you select a new password , your password in other sap - related applications will automatically reset . you only need one password for your sap user id ( pid ) . ready to launch ibuyit eprocurement ? access it from the ibuyit portal : for step - by - step documentation on ibuyit eprocurement , click here : for help , call the isc call center at 713 - 345 - 4727 . if you have any question regarding this request , please contact sap security . thanks ! from : raul davila / enron @ enronxgate on 04 / 19 / 2001 06 : 02 pm to : sap security @ enron cc : subject : re : pending approval for ibuyit request for wincenty ( vince ) kaminski : eva : remedy 412144 approved - - - - - original message - - - - - from : tow , eva on behalf of sap security sent : thursday , april 19 , 2001 5 : 39 pm to : davila , raul cc : vkamins @ enron . com ; crenshaw , shirley subject : re : pending approval for ibuyit request for wincenty ( vince ) kaminski : eva : remedy 412144 raul , raul , vince kaminiski is requesting acces to the technical view for catalog along with the ibuyit approval role . this is pending your approval . please send your response to sap security . thanks ! shirley crenshaw @ ect 04 / 19 / 2001 03 : 01 pm to : sapsecurity @ enron . com cc : vince j kaminski / hou / ect @ ect subject : ibuyit form attached please find the completed form for vince kaminski , managing director , research group . he will be approving all purchases for cost center 107043 . > - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 04 / 19 / 2001 02 : 58 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - from : debbie skinner / enron @ enronxgate on 04 / 19 / 2001 02 : 52 pm to : shirley crenshaw / houston / eott @ eott , shirley crenshaw / hou / ect @ ect cc : subject : ibuyit form hi shirley there were two shirleys , so sending to both > isc help desk | 0 |
Subject: re : brazil fyi . this is a deal i ' ve been helping them value correctly . here remi is , ostensibly the head of trading in brazil , and he doesn ' t even know what a digital option is . scary ! grant . - - - - - - - - - - - - - - - - - - - - - - forwarded by grant masson / hou / ect on 03 / 30 / 2000 10 : 23 am - - - - - - - - - - - - - - - - - - - - - - - - - - - remi collonges @ enron _ development 03 / 29 / 2000 07 : 53 am to : grant masson / hou / ect @ ect cc : subject : re : odebrecht / ita deal thanks for taking the time to look at this transaction . i ' m currently trying to understand what a digital option is , but besides this i can say you ' ve got it right . remi | 0 |
Subject: re : tiger team - wharton participants i lied a little - 2 people from the bottom of the list did submit resumes - i got discouraged and didn ' t check everyone . michele nezi marvin manager enron broadband services ( 713 ) 853 - 6848 michele nezi marvin 01 / 10 / 01 06 : 18 pm to : kristin gandy / na / enron @ enron cc : jeffrey a shankman / hou / ect @ ect , vince j kaminski / hou / ect @ ect subject : re : tiger team - wharton participants are these students first or second years ? if they are first years , we did not have a single one submit a resume for the summer associate position . michele nezi marvin manager enron broadband services ( 713 ) 853 - 6848 kristin gandy @ enron 01 / 03 / 01 10 : 17 am to : jeffrey a shankman / hou / ect @ ect , william keeney / hou / ect @ ect , catherine clark / hou / ect @ ect , rajesh chettiar / enron _ development @ enron _ development , tom dutta / hou / ect @ ect , jayshree desai / hou / ect @ ect , colin jackson / enron communications @ enron communications , laura howenstine / enron communications @ enron communications , michele nezi marvin / enron communications @ enron communications , jennifer fraser / hou / ect @ ect , natalie halich / enron communications @ enron communications , ranabir dutt / corp / enron @ enron , teresa dyar / na / enron @ enron , jeff golden / hou / ees @ ees , charles ward / corp / enron @ enron , sarah wesner / corp / enron @ enron , li sun / na / enron @ enron , gillian johnson / na / enron @ enron , lisa connolly / na / enron @ enron , michael j popkin / na / enron @ enron , kevin mcgowan / corp / enron @ enron , evan betzer / enron communications @ enron communications , jebong lee / enron communications @ enron communications , chu chu wang / corp / enron @ enron , brad hitch / eu / enron @ enron , betsy bassis / enron communications @ enron communications , matthew goering / hou / ect @ ect , claude tellis / enron @ enronxgate cc : subject : tiger team - wharton participants attached below is a list of individuals that will be participating in the tiger team event at enron in houston on the 18 th of january . keep these people in mind when it comes time to pick candidates to interview for the spring . call if you have any questions and i am still looking for wharton alum who would like to attend the dinner at churrasco ' s that same evening . thank you , kristin - - - - - - - - - - - - - - - - - - - - - - forwarded by kristin gandy / na / enron on 01 / 03 / 2001 10 : 14 am - - - - - - - - - - - - - - - - - - - - - - - - - - - melinda mccarty 01 / 03 / 2001 09 : 43 am to : kristin gandy / na / enron @ enron cc : subject : tiger team - wharton participants vincent chen nicholas levitt deepa mallik jack rejtman heather thorne donna piazze kim whitsel tulika bhalla jaideep singh edson otani joshua leventhal pat henahan gustavo palazzi clay degiacinto steve lessar ram vittal omar bassel jason cummins dennis feerick | 0 |
Subject: miscellaneous items vince : here are several items that you need to know about . 1 . paul johnson said that monday night would be fine for the dinner with spyros . 2 . lucy deathridge from risk called and needed your presentation for the boston conference by this evening in order to have copies made . i told her you were in meetings and had been very busy , i did not know whether your presentation was ready or not . we can have 500 copies made from the copy center and overnight them to her next week , but you won ' t be here on the 9 th to do this . do you have any suggestions ? 3 . i have been trying to schedule a meeting that mike roberts called about regarding e - online . he said to schedule it for friday at 11 : 30 am . i called mark palmer and he knew nothing about the meeting , but said he would be here at 11 : 30 am . however , i have been unable to reach dan diamond . mike said that you might have his cell phone ? thanks ! shirley | 0 |
Subject: risk desk , issue # 1 hello - - listen , wanted to make sure you received a copy of our newest publication last week , the risk desk . because of the size of the files we sent out , quite a few bounced back because some corp firewalls halt emails over a certain size . anyhow , if you didn ' t receive the issue , hit the reply button and type " resend risk desk . " responce so far has been great for those of you that received the free copy - - we think you ' ll agree that it ' s soon to become the leading " must read " publication on market , credit , price and operational risk management in the energy space . also , just a reminder , the charter price for a one year subscription ( $ 199 ) ends soon . let us know . john sodergreen editor - in - chief scudder publishing group , llc ph : 410 / 923 - 0688 fax : 410 / 923 - 0667 johns @ scudderpublishing . com the desk , the risk desk , power executive the bandwidth desk , energy ebusiness | 0 |
Subject: re : 1997 risk paper on pricing of electricity derivatives bernard , yes , i can read a dvi file . you can also cc my home address : vkaminski @ aol . com . i shall try to send you an answer to your question on weekend . vince " murphy , bernard " on 03 / 01 / 2001 09 : 18 : 58 am to : " ' vince . j . kaminski @ enron . com ' " cc : subject : re : 1997 risk paper on pricing of electricity derivatives vince , i can send you a scientific word dvi file ( at the weekend ) if you can read scientific word files ? the dissertation hasn ' t been reviewed by les or the external yet - although its been at forc for 2 months . i think that the empirical chapter is probably the one which would be of most relevance to both our company ' s businesses - although i ultimately didn ' t have the time to ' explicitly ' price the jump risk - premium which i conjectured is possibly implicit in the prices of exchange - traded electricity futures - options - rather i developed an implicit estimation procedure which will enable a rough assessment ( with a little bit of further work , but not too much ) be made of the price of jump risk in wholesale power markets . in other words , i assumed spot jump - risk to be undiversifiable , and essentially devoted 2 theoretical chapters to : 1 ) proving that a jump - diffusion trading model is " incomplete " ( synthesising the securities markets framework with martingale representation theory ) - note that i did not assume that markets could be dynamically completed with ' term structure ' securities as in the hjm w / jumps papers of shirakawa and das and ; 2 ) deriving an explicit risk - adjustment process for ' implementing ' the price of jump - risk using a jump - diffusion marginal indirect utility of wealth process ( ie . a jump - augmented production economy approach in the spirit of cir , bates , ahn whereas in the latter the driftless forward supposition means that i have to capture mean - reversion via the futures volatility function , and jumps are less easy to calibrate . any suggestions ? regards bernard - - - - - original message - - - - - from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ] sent : 01 march 2001 14 : 54 to : murphy , bernard cc : shirley . crenshaw @ enron . com ; vince . j . kaminski @ enron . com subject : re : 1997 risk paper on pricing of electricity derivatives bernard , i am forwarding your message to my assistant and she will mail you a reprint . i would be glad to take a look at your dissertation . is it available as a publication , working paper ? vince " murphy , bernard " on 03 / 01 / 2001 02 : 17 : 39 am to : " ' vince . j . kaminski @ enron . com ' " cc : subject : 1997 risk paper on pricing of electricity derivatives hello vince , my name is bernard murphy - i received your e - mail address from les clewlow , who was my phd supervisor at the financia options research centre at warwick business school . i ' ve just finished my phd on electricity price jump diffusions : a theoretical and empirical study in incomplete markets - hence my interest in electricity price modelling and derivative pricing . i was looking to get hold of a copy of your 1997 paper , which has recently come to my attention : " the challenge of pricing & risk - managing electricity derivatives " , the us power market , risk publications , pp . 149 - 171 . and les suggested that i contact you directly ( les is travelling at present and doesn ' t have an electronic copy available ) to request an e - copy . incidentally , i am lecturer in finance / financial mathematics at university of limerick ( ireland ) and have taken a year out to work for caminus uk , where i am working on introducing and developing a markets - based approach ( spark - spread ) to real asset valuations in the uk power industry . thanks in advancve bernard murphy | 0 |
Subject: enron ' s new weather system , courtesy the research dept . v last night , i tested our new system for real - time surveillance and messaging of the weather , and it delivers the data to desktops throughout the building more than 6 1 / 2 minutes before the national weather service updates their webpages . our current technology was web - scraping these pages via ftp , then parsing into a database . the impact of these 6 1 / 2 minutes for the hourly power traders is enormous - the weather stations upload their data around 53 minutes after the hour , and we can now receive them within 2 minutes later . we can now re - estimate our nonlinear stack model before the top of the hour , when hourly power trading begins . otherwise , we would not have model results until around 15 minutes after the hour . notably , hourly power trading is , for all intents and purposes , concluded by then ( they trade for 10 - 15 minutes and manage the scheduling for the next 30 or so miutes ) . so , effectively , we may now be one * hour * ahead of where we were just a few days ago , in terms of information . people are very excited up here , from the cto on down - thanks for letting it happen . c | 0 |
Subject: research group accountant hi dawn : the research group has moved around so much that we do not know who to contact for accounting issues . we need to reverse some money back to one of the groups we are supporting , but do not know who to contact . do you have a clue ? we are also still using an sap corp . co # and rc # because we do not know where to go to get the new ena # ' s . if you could help in this we would really appreciate it . thanks ! shirley crenshaw | 0 |
Subject: var for cob lst aug 2000 hi , i have run the var for cob lst aug 2000 . a summary of the results is as follows : i have also attached the model . again the prices for cocoa beans and gold have not been updated since the 26 th july . the gamma positions for the metals have been added to check the effect on the var . the change was small : delta var - $ 4 , 899 , 196 delta / gamma var - $ 4 , 780 , 797 this is not a live daily feed as andreas mannually created the file for me today so that we could do this check . regards kirstee | 0 |
Subject: understanding risk and return of an insurance portfolio hi vince , i am enclosing a report on my thoughts about risk and return behaviour of an insurance portfolio . your input on this will be very helpful . i have given vasant a copy of this report and am working with him towards improving this . in the mean time , i happened to mention this idea in a meeting with david porter , per sekse , brad blesie and david hoog and there seems to be some interest in understanding how this works . in fact , david hoog subsequently reviewed this with me and suggested some changes . those changes have been included in this report . the idea here is simple and just a starting point . while it provides a broad picture on how risk and return will behave at portfolio level , i am hoping to be able to relax some of the assumptions to get more realistic picture in near future . looking forward to your input , sincerely , amitava | 0 |
Subject: aga for 6 / 16 / 00 is predicted at 82 i will keep runing my aga model ( the molecule model ) for awhile . for the last two weeks the numbers that came out from the model are in the lucky side . see the following table . the following figures shows the overall fit . zimin | 0 |
Subject: confirmation of meeting vince : thanks for introducing me as a speaker at the power 2000 conference . as per our conversation , please find enclosed my resume . i will come to your office at 1 : 30 pm , friday , may 12 , 2000 . please let me know if the dress code is casual or formal . thanks again for taking the time to talk to me regarding opportunities at enron . > sanjeev k khanna , m . sc . , p . eng . director , quantitative risk management pg & e energy trading 1100 louisina street , # 1000 houston , tx 77094 email : sanjeev . khanna @ et . pge . com tel : ( 713 ) 371 6647 , pager 800 - 526 - 4095 , cell ( 281 ) 302 - 8468 pg & e energy trading and any other company referenced herein which uses the pg & e name or logo are not the same company as pacific gas and electric company , the california utility . these companies are not regulated by the california public utilities commission , and customers do not have to buy products from these companies in order to continue to receive quality regulated services from the utility . - . doc | 0 |
Subject: re krishnarao , pinnamaneni v review i made a mistake and put comments for another person into krishnar ' s prc . please make sure that you ignore it if i can ' t get it fixed . below is what i intended to put in . my apologies . i will get my assistant to get it deleted and put this information in on monday . it won ' t let me do it now . i guess it does not pay to leave 30 or 40 reviews to the last day . paula : please fix this for me and let vince know either that it is fixed or cannot be fixed . innovation / entrapraneurship no basis communicating goal setting no basis team work / communication excellent . very easy to work with and get along with . business instincts excellent . krishnar is consistent in asking to help out and asking what more he could do to help us out . analystical technical excellent . krishnar has a very strong grasp of what we are doing and how it should be done . overall excellent . my interactions with krishnar have been limited but positive . krishnar is always positive with a positive attitude to get the job done . strengths : very strong analytical skills with a desire to add value . areas for improvements i don ' t understand krisnar ' s role ( is leading all research people on our floor or just some ) well and have had limited interaction with him . { all has been positive when it has ocurred } this suggests that krishnar might spend more time define what his people are doing and getting feedback about their performance , and developing the project scope better . | 0 |
Subject: re : the research lunch i would be very willing to make a presentation to you . this coming thursday unfortunately , i have a sick day scheduled ( babies will do this kind of thing to you ) and will not come into the office . would it be more practical to make the presentation to a select group of a few ( possibly ) interested individuals ? this might give us more shceduling flexibility and would also seem more appropriate , knowing that what i have is a set of suggestions for development and no earth - shuttering , live product . please let me know if this accomodates your needs , yannis joseph hrgovcic 03 / 29 / 2000 09 : 35 am to : yannis tzamouranis / hou / ect @ ect cc : subject : re : the research lunch yannis , shirley will know the room in which the lunch is scheduled . let her know what audio - visual materials you ' ll need . keep in mind that the research group is now about 40 people , some of whom will be watching the presentation on video from portland and from london . the best platform would be to get a pc - video or pc - screen link - up , so that everyone , including people watching remotely , can see your computer ' s monitor on a big screen . the itinerary for the lunch is that we meet at 11 : 30 and eat lunch and trade news for the first 30 - 45 minutes , and then at 12 : 00 or 12 : 30 at the latest , we have a presentation . we try to wrap up by 1 : 00 , so that what we discussed yesterday should make for a very good presentation in pretty much every way . from my experience , the audio - visual people need at least an hour advance warning to get the screens linked up . let me know if you need any help in getting you and jenny the things you need . joe - - - - - - - - - - - - - - - - - - - - - - forwarded by joseph hrgovcic / hou / ect on 03 / 29 / 2000 09 : 26 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 03 / 29 / 2000 09 : 31 am to : yannis tzamouranis / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , joseph hrgovcic / hou / ect @ ect , shirley crenshaw / hou / ect @ ect subject : re : is this data of interest to any of you ? yannis , it makes a lot of sense to get this info . also , you are welcome to make a presentation to the group this thursday at lunch . please , call shirley crenshaw ( x 3 - 5290 ) to coordinate and order sandwich you would like to have . vince joe , can you , please , babysit this presentation ( make sure we have all the audiovisual equipment we need , etc . ) . vince yannis tzamouranis 03 / 28 / 2000 02 : 50 pm to : yannis tzamouranis / hou / ect @ ect cc : ( bcc : vince j kaminski / hou / ect ) subject : is this data of interest to any of you ? fyi : the following file describes the contents of the monthly energy review ( application , current , and historical ) . the data is available through a doe site and we can get it for free and incorporate it in the lim database , if there is interest . review the attached file ( look for keywords of interest ) and let us know whether need dictates loading these datasets . for the market analysis and infomration management group , yannis c . tzamouranis enron it | 0 |
Subject: re : eprm course chris , thanks for the invitation . yes , i am interested in the training course . i shall call paul bristow today . please , give me some indication regarding the dates . vince vincent kaminski managing director - research enron corp . 1400 smith street room ebl 962 houston , tx 77002 - 7361 phone : ( 713 ) 853 3848 ( 713 ) 410 5396 ( cell ) fax : ( 713 ) 646 2503 " chris strickland " on 02 / 06 / 2001 02 : 20 : 52 am please respond to " chris strickland " to : " vincejkaminski " cc : " vince \ ( home \ ) " subject : eprm course hi vince , ? hope you are fine . i hope that grant ' s leaving ? hasn ' t affected your group too much ? ? eprm ' s paul bristow has been in touch about a var training course involving les , yourself and i . are you interested ? we would be ? extremely happy to work with you . he was talking about london and houston which i don ' t know if it fits with your travel schedule . maybe we can sort something out . ? i hope to have the next article with you by early next week . ? best regards as always , and many thanks for your book promotional efforts ! ? chris . ? ? ? | 0 |
Subject: re : information vince , after checking into this issue i have found that the type of information requested is proprietary and not available for release . i will try to contact them and see if there is something else we can help them with but as far as the data is concerned i don ' t believe we can help them with that request . i am sorry i couldn ' t be of more help . thank you . shalesh ganjoo vince j kaminski 11 / 21 / 2000 09 : 15 am to : shalesh ganjoo / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , stinson gibner / hou / ect @ ect subject : information shalesh , please , look into it . can we give them this information ? i see a remote possibility of a gain for enron : it ' s in our interest to support the growth of this market and part of the process is development of the infrastructure for this market and maintaining public interest . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 11 / 21 / 2000 09 : 18 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " yann d ' halluin " on 11 / 16 / 2000 01 : 18 : 39 pm to : vince . j . kaminski @ enron . com cc : subject : information dear sir : the scientific computation group at the university of waterloo , ontario , canada , has recently started to be very interested in the recent developments of the bandwidth market . we find that the specifics of the bandwidth market offer challenges from the modelling point of view . however , we have encountered difficulties when looking for data , and we were wondering if you could help us . specifically we would like to know for a given city pair for the different existing type of lines ( e . g . oc 3 , ocl 2 , oc 48 . . . . ) 1 . what has been the spot lease prices ( e . g . $ / line - type / mile ) for the past 12 months ? 2 . what is the price of the dark fiber for a given type of line ? 3 . what is the maintenance cost $ / month ? ( for the same lines , e . g . oc 3 , ocl 2 , oc 48 , . . . ) 4 . what is the upgrading cost for the different lines ? ( e . g . how much does it cost to upgrade ) oc 3 - - > ocl 2 oc 3 - - > oc 48 ocl 2 - - > oc 48 5 . how long does it take to upgrade a line from a certain capacity to another ( e . g . 1 month , 2 month , . . . ) ? we realize that some of these questions may ask for confidential data , in that case we would really appreciate if an order of magnitude was provided . i look forward to hearing from you . sincerely , yann d ' halluin p . s : here is a link to our web page : http : / / www . scicom . uwaterloo . ca - - this email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed . any unauthorized review , use , disclosure or distribution is prohibited . if you are not the intended recipient , please contact the sender by reply e - mail and destroy all copies of the original message . | 0 |
Subject: re : fwd : summer internship - - ph . d . in chicago stinson , can you ask alex and tanya to interview this guy ? i wan to make a recommendation to celeste based on an this interview . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 19 / 2001 05 : 03 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - celeste roberts 01 / 18 / 2001 04 : 33 pm to : vince j kaminski / hou / ect @ ect cc : paul lebeau / na / enron @ enron subject : re : fwd : summer internship - - ph . d . in chicago vince : have you had a chance to interview ? if not , we can make arrangements to have candidate interviewed when we go to chicago for summer associate interviews . let me know and i will get the chicago recruiter to add to schedule . vince j kaminski 01 / 17 / 2001 03 : 51 pm to : celeste roberts / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : fwd : summer internship - - ph . d . in chicago celeste , i am a very good customer of your group . this is another student ( this time from chicago ) i would be glad to take into the group as an intern . the resume is attached at the bottom of this message . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 17 / 2001 03 : 51 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - li xiao on 01 / 13 / 2001 01 : 41 : 29 pm to : vkamins @ ect . enron . com cc : subject : fwd : summer internship - - ph . d . in chicago hi , vince , this is li , writing from u . of chicago . i am in the second quarter here . the study and social life is extremely busy at the school . but i enjoy connecting the knowledge i learn everyday here with the experience i had with enron . a schoolmate of mine , a chicago ph . d . candidate in finance , is looking for an internship for the coming summer . i recommend him to write to you to see if you are interested in or if there is a need . if so , you can contact with him directly . he is a really bright guy . if not , hope you don ' t mind that i sell enron at school so hard . again , thanks for all the help you gave me . have a good new year . li p . s . : cover letter below and resume attached . li xiao university of chicago graduate school of business , class of 2002 ( 773 ) 955 - 0710 dear dr . vince kaminski , i am a ph . d . student in finance at the university of chicago gsb who = hopes to find a summer internship at enron of 2001 ( between june and = september ) . i heard your group from my friend li , who worked at enron = for 3 year . she spoke highly of you . if it ' s okay , i am primarily = interested in risk management . at the university of chicago , i will have completed all the ph . d . = courses in the area of finance by the end of the first year . as normally = it takes two years to finish the required finance courses , i decided to = take all the finance courses in the first year . in the fall quarter , i = already took empirical asset pricing and theoretical asset pricing and = did very well . in the winter quarter , i will be taking corporate = finance , continuous time finance and behavioral finance . i am exposed to = all fields of finance . prior to coming to chicago , i received a master ' s = degree in economics at washington university in saint louis where i = acquired skills in economic analysis . i also have a strong background in = statistics and mathematics . this makes me believe that i have acquired = the ability to do financial research . prior to coming to the united state , i was an outstanding graduate from = beijing university , china . i was the founder and president of beijng = univeristy society of oceanology . i also organized a research jouney in = the round - the - bo - sea economic region . these experience helped to hone my = communication and interpersonal skills . as illustrated above , my skills and expertise are ideally suited for = financial research . my resume is enclosed . in the event that you think = an interview is in need , my time is very flexible . your assistance is = appreciated . sincerely yours , jason chen ( huafeng ) 6022 s . drexel ave , apt 612 chicago , il 60637 ( 773 ) 955 - 0348 - resume . doc | 0 |
Subject: dr . michelle foss - energy institute michelle , fyi vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 04 / 25 / 2001 09 : 50 am - - - - - - - - - - - - - - - - - - - - - - - - - - - christie patrick 04 / 25 / 2001 07 : 43 am to : vince j kaminski / hou / ect @ ect cc : subject : dr . michelle foss - energy institute hi vince - - i ' ll take care of it ! thanks ! christie . - - - - - - - - - - - - - - - - - - - - - - forwarded by christie patrick / hou / ect on 04 / 25 / 2001 07 : 43 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 04 / 24 / 2001 05 : 15 pm to : christie patrick / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : dr . michelle foss - energy institute christie , i am forwarding you a message i have received from the university of houston . can you help them ? we have a very good relationship with the uoh . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 04 / 24 / 2001 05 : 14 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - aisha jamal on 04 / 23 / 2001 03 : 15 : 29 pm please respond to aisha @ uh . edu to : vkamins @ ect . enron . com cc : mmfoss @ uh . edu subject : dr . michelle foss - energy institute dear mr . kaminski , i am writing to ask a favor for dr . michelle foss . as you know we will be running our " new era " program from may 14 - may 25 th . dr . foss was wondering if on may 22 nd ( between 1 : 30 pm and 4 : 00 pm ) , we would be able to bring our participants for a tour of your trading floor . at this time we will have 30 - 40 people , and since only 10 people maximum should really be on a trading floor we need to have 4 companies among which to divide our participants . at this time , we have a floor from coral energy , and are working with duke , and i will be contacting mr . paul roberts to arrange for the reliant energy trading floor . i was hoping very much that you would be able to direct me to the right person to contact to arrange this tour . will this be a possiblity ? i really appreciate your help very much . thank you ! best regards , aisha jamal energy institute 713 - 743 - 4634 | 0 |
Subject: re : rice students ken a tour would be great ( after 10 : 30 , if they can make it ) . please , let shirley know about the meeting . vince kenneth parkhill @ enron 01 / 29 / 2001 10 : 17 am to : vince j kaminski / hou / ect @ ect cc : subject : rice students vince , 19 c is available and reserved for 9 am to 10 : 30 , wednesday . would you like me to try and arrange a tour for the students or should we wait until we know more about their interests ? are their some other enron folks you would like to invite for wednesday ? ken | 0 |
Subject: re : clustering for power tanya , as we discussed in the last meeting , to simulate secondary power curve we need correlated jump sizes . this is totally different from the current secondary price curve simulation which assume the perfect correlation and also totally different from the secondary gas basis curve simulation which is based on the hedging ratio . there are two more issues on my side i need to resolve : 1 . i want resolve the power basis curve issue . currently all power position on these basis curve are actually price positions . we are hard coding this : if power basis we add basis to corresponding region curve . i am trying to remove this hard coding by asking loading the price curve for all these basis locations . 2 . same is true for all those power f curves . these curves looks similar to those basis curves . currently we just directly map these f curves to the corresponding region curves . i would also prefer to load the price curves instead of the price differences . from research , i need those jump size correlations . clearly , all these involve many new development , unless we want to use simpler way to simulate secondary power curves . regards , winston - - - - - original message - - - - - from : tamarchenko , tanya sent : monday , april 16 , 2001 9 : 17 am to : lew , jaesoo cc : gorny , vladimir ; jia , winston ; kaminski , vince subject : re : clustering for power jaesoo , as we discussed last week on wednesday meeting can you , please , implement clustering for power curves by geographical region . this involves the following : 1 . deciding together with risk control how many geographical regions we want to use and which enron ' s curves belong to each region . 2 . deciding together with risk control how to choose core curves for each region . this decision can be maid based on the a ) position size ; b ) statistical analysis . there might be other considerations . 3 . doing regression analysis for each curve versus the corresponding core curve . winston , can is it possible to run var for the clustering results obtained by jaesoo with clustering done by sas ? should we wait for the stage re - fresh and what is the status on this ? tanya . | 0 |
Subject: fwd : our conversation today return - path : from : awenda 2000 @ cs . com full - name : awenda 2000 message - id : date : mon , 4 dec 2000 12 : 47 : 07 est subject : our conversation today to : wkamins @ enron . com mime - version : 1 . 0 content - type : multipart / mixed ; boundary = " part 2 _ 3 b . d 386 bc 9 . 275 d 329 b _ boundary " x - mailer : unknown sub 111 hi wincenty , it was a pleasure talking to you today . i am enclosing my resume and look forward to talking to you again . best regards bibianna - bibianna res . # 2 . doc | 0 |
Subject: re : tasha , yes , i think li xiao deserves the bonus . vince kaminski tasha lair @ enron 03 / 21 / 2000 02 : 24 pm to : vince j kaminski / hou / ect @ ect cc : subject : vince , linda vargo asked me because i am the administrator of employee referral program to contact you on whether or not li xiao is eligible for a bonus on his referral of alex huang . i have informed linda that the decision up to you . if you feel that alex huang was hired as a result of li bringing him to the attention of enron then the bonus is due . linda and yourself have communicated via e - mail on this issue in early february and it appears from that correspondence that li did encourage alex to e - mail his resume to you . please advise as to whether or not you want to award the bonus . thank you | 0 |
Subject: re : lunch fyi - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 09 / 28 / 2000 10 : 26 am - - - - - - - - - - - - - - - - - - - - - - - - - - - allan . roberts @ uk . arthurandersen . com on 09 / 26 / 2000 09 : 41 : 47 am to : shirley . crenshaw @ enron . com cc : subject : re : lunch shirley , thank you for your e - mail , i hope all has turned out well with vince and his family . this is my first day back in the office , so the reason for contacting you is to acknowledge receipt of your note and to inquire as to when vince will next be in the uk . please contact me at you convenience , allan to : allan roberts cc : date : 18 / 09 / 2000 16 : 18 from : shirley . crenshaw @ enron . com subject : re : lunch allen : i apologize ! i tried to call on the numbers below , but they would not go through . i sent you an email explaining why vince was not there , unfortunately it did not get to you in time ! vince ' s wife and son were driving to california for his junior year at stanford . they stopped in phoenix and his wife got sick . vince is afraid he will have to fly out there and drive them on to calif . please accept our deepest apologies and we will reschedule for october , if it is ok . regards , shirley crenshaw allan . roberts @ uk . arthurandersen . com on 09 / 18 / 2000 09 : 08 : 15 am to : shirley . crenshaw @ enron . com cc : chris . j . osborne @ uk . arthurandersen . com , richard . p . emerton @ uk . arthurandersen . com , mike . pilgrem @ uk . arthurandersen . com , angela . mindley @ uk . arthurandersen . com subject : lunch dear shirley , my colleagues and i were expecting to lunch with vince today . unfortunately , vince did not show . the reason for contacting you is to inform you of the situation and to enquire as to whether everything is ok . his plane arrived on time , but we have not heard from him today . if you need to contact me urgently , please call me on + 44 370 584 695 , or my ea angela on + 44 7304 8102 . regards , allan * * * * * * * * * * * * * * * * * * * internet email confidentiality footer * * * * * * * * * * * * * * * * * * * privileged / confidential information may be contained in this message . if you are not the addressee indicated in this message ( or responsible for delivery of the message to such person ) , you may not copy or deliver this message to anyone . in such case , you should destroy this message and kindly notify the sender by reply email . please advise immediately if you or your employer do not consent to internet email for messages of this kind . opinions , conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it . * * * * * * * * * * * * * * * * * * * internet email confidentiality footer * * * * * * * * * * * * * * * * * * * privileged / confidential information may be contained in this message . if you are not the addressee indicated in this message ( or responsible for delivery of the message to such person ) , you may not copy or deliver this message to anyone . in such case , you should destroy this message and kindly notify the sender by reply email . please advise immediately if you or your employer do not consent to internet email for messages of this kind . opinions , conclusions and other information in this message that do not relate to the official business of my firm shall be understood as neither given nor endorsed by it . | 0 |
Subject: complexity science and the energy industry brown bag > please join nesa / hea at the " complexity science and the energy industry brown bag " ~ april 18 th , 2001 if you have any questions , please call lana moore at ( 713 ) 856 - 6525 . thanks and have a great day ! ! - e - business . doc | 0 |
Subject: request for natural gas technical analysis - - - - - - - - - - - - - - - - - - - - - - forwarded by patricia tlapek / hou / ect on 09 / 03 / 2000 10 : 44 am - - - - - - - - - - - - - - - - - - - - - - - - - - - tim mckone @ enron 08 / 30 / 2000 10 : 21 am to : mike a roberts / hou / ect @ ect cc : patricia tlapek / hou / ect @ ect , anna santucci / na / enron @ enron subject : request for natural gas technical analysis hello mike , i work in rodney malcolm ' s commercial transaction group , focusing on developing energy management relationships with large volume industrial energy consumers . due to the volatility and high price levels of the natural gas contract , these consumers of natural gas are extremely concerned about this exposure , and they are asking for our assistance in helping them manage this exposure . one of the tools that these customers are requesting is technical analysis of the natural gas contract so as to determine entry points for their hedges . to the extent you could assist us with this analysis , we can proactively meet these customer requests and increase our deal flow . please advise as to the availability of your assistance . thank you , tim | 0 |
Subject: raptor position reports for 1 / 29 / 01 vince , these spreadsheets have the most up to date numbers for the raptor structures . the summary sheet summarizes the assets and liabilities in all four . - - stinson - - - - - - - - - - - - - - - - - - - - - - forwarded by stinson gibner / hou / ect on 02 / 02 / 2001 04 : 10 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - rakesh bharati @ enron 02 / 02 / 2001 10 : 27 am to : stinson gibner / hou / ect @ ect cc : subject : raptor position reports for 1 / 29 / 01 - - - - - - - - - - - - - - - - - - - - - - forwarded by rakesh bharati / na / enron on 02 / 02 / 2001 10 : 30 am - - - - - - - - - - - - - - - - - - - - - - - - - - - from : gordon mckillop on 01 / 31 / 2001 09 : 36 am to : rakesh bharati / na / enron @ enron cc : subject : raptor position reports for 1 / 29 / 01 - - - - - forwarded by gordon mckillop / na / enron on 01 / 31 / 2001 09 : 35 am - - - - - gordon mckillop 01 / 30 / 2001 03 : 58 pm to : ben f glisan / hou / ect @ ect , andrew s fastow / hou / ect @ ect , richard causey / corp / enron @ enron , rick buy / hou / ect @ ect , greg whalley / hou / ect @ ect cc : barry schnapper / corp / enron @ enron , andrea v reed / hou / ect @ ect , ryan siurek / corp / enron @ enron , kevin d jordan / corp / enron @ enron , michael kopper / hou / ect @ ect , chris loehr / hou / ect @ ect , anne yaeger / hou / ect @ ect , rodney faldyn / corp / enron @ enron , ron baker / corp / enron @ enron , amy . flores @ ljminvestments . com , l ' sheryl hudson / hou / ect @ ect , wes colwell / hou / ect @ ect , kevin howard / enron communications @ enron communications , david port / market risk / corp / enron @ enron , jordan mintz / hou / ect @ ect , maria lebeau / hou / ect @ ect , david maxwell / hou / ect @ ect , susie ayala / hou / ect @ ect , hope vargas / hou / ect @ ect , bob butts / gpgfin / enron @ enron , marnie lamb / na / enron @ enron subject : raptor position reports for 1 / 29 / 01 the raptor i credit capacity is $ ( 110 . 8 ) million as a result of the merlin credit derivative ( $ 63 ) and heartland steel ( $ 38 ) being reflected in the mpr for 1 / 29 . raptor iv has a notional capacity of $ 522 million available . | 0 |
Subject: re : fw : fw : visit to enron by professor nalin kulatilaka of boston university hi nalin , martin lin asked if you have a paper " or something " related to the lecture you will be giving to us on may 17 th . ciao , iris - - - - - original message - - - - - from : lin , martin sent : monday , april 30 , 2001 8 : 52 am to : mack , iris subject : re : fw : fw : visit to enron by professor nalin kulatilaka of boston university is there a paper or something related to this topic that we can look over beforehand ? thanks , martin iris mack / enron @ enronxgate 04 / 27 / 01 05 : 42 pm to : chonawee supatgiat / corp / enron @ enron , shalesh ganjoo / enron communications @ enron communications , martin lin / hou / ect @ ect , martin lin / contractor / enron communications @ enron communications cc : subject : fw : fw : visit to enron by professor nalin kulatilaka of boston university fyi - - - - - original message - - - - - from : mack , iris sent : monday , april 23 , 2001 2 : 45 pm to : crenshaw , shirley ; crenshaw , shirley ; dupont , anita cc : kaminski , vince ; ' nalink @ bu . edu ' subject : fw : fw : visit to enron by professor nalin kulatilaka of boston university hi , here is the title and abstract for professor kulatilaka ' s talk on may 17 th at our 11 : 30 am research group luncheon / seminar . iris title : " using the mobile internet to make new markets " abstract : professor kulatilaka will talk about some new ideas that he is working on which involve using the micro billing / payments capability of a packet - switched wireless network to create new markets . the potential markets range from spot markets for local spectrum to congestion - based pricing for highways . | 0 |
Subject: pro opticus shirley , please , send this memo to the entire group and ask if this demo was given to anybody in our group . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 11 / 06 / 2000 05 : 10 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - kevin sweeney 10 / 23 / 2000 06 : 53 am to : vince j kaminski / hou / ect @ ect cc : kara maloney / na / enron @ enron , mario de la ossa / na / enron @ enron , matt a brown / hou / ect @ ect subject : pro opticus vince , i understand that you or someone in your group had a demo from the above group last friday . i was wondering if this was part of a push to bring more options ' analytics to the traders ' desks , and if so , if you could explain what that effort looks like ? one of the global markets traders , mario de la ossa also had a look at the software as he has used it in the past . thanks , kevin | 0 |
Subject: re : a personal favor anurag , i shall talk about vikas to our it people . can you send me his resume ? vince " saksena , anurag " on 05 / 07 / 2001 10 : 06 : 54 am to : " ' vkamins @ ect . enron . com ' " cc : subject : a personal favor vince , ? i have left a voice mail to you and will wait to talk to you personally . my brother vikas , who is now in london , is trying to make a switch from consulting world to working for a specific firm . over last few months , i have heard of great deal about the success of enron on line business which fits well in the area of his expertise . i am wondering if you know of some one in london who he can speak to regarding career opportunities . ? since i spoke to you last , a number of things have changed . recently , my manadate was broaden to include leading a charge for developing a risk management function for both the domestic and international businesses for gmac . needless to say , this is exciting albeit making the life a little more hectic than usual . ? talk to you later . ? anurag ? 952 - 857 - 6133 | 0 |
Subject: risk and purchasing meeting due to time constraints on mr . kaminski ' s schedule during the time that you all are in town from portland , the meeting being held on august 9 , 2000 in eb - 45 cl must be held to one hour ( 2 : 00 - 3 : 00 pm ) please have your questions , comments , and / or materials ready in advance and expect this to be a fast paced meeting . kristin j . harrelson enron broadband services , inc . procurement , logistics , and contracts 1400 smith , suite eb - 4573 a houston , tx 77002 phone : 713 . 853 . 6814 fax : 713 . 646 . 8582 cell : 713 . 594 . 1385 | 0 |
Subject: old email address > hello vince , > nie bardzo wiem czy pisac po polsku czy po angielsku : ) > co u ciebie slychac ? > u mnie troche zmian jak ze juz nie pracuje w scem , a przenioslem sie > do mieco ( a small marubeni backed energy - america trading company ) . > bardzo rozne od scem . najbardzij przypomina mi scem na poczatku z joe , jak > bylo 20 - 30 osob . sa i minusy i plusy . troche structure i research ale > przede wszystkim weather . trrovhe latam miedzy east i west bo sa officy > w obydwu miejscach . california jest ok w zimie : ) . > na bardziej personalnym froncie ; pamietasz dinner na ktory poszlismy > kiedys na conferencji w ny z catherine ( she used to work for williams - > works for morgan stanley now ) , we are dating ( for a while ) . it is a > good story how we met . so we owe you dinner : ) > jak bylem w atlancie to pracowala dla mnie christa grey . bedzie teraz > konczyla grad school in international relations ( with eastern european > slant ) , i zastanawia sie czy sa jakies mozliwosci polaczenia tego co > robila ze " wschodem " . co robila to bylo przede wszystkim vb > implementations modeli , ( roznego rodzaju ) , web based data collections , > basic research , teraz jest w gas structuring etc . she speaks russian > and was in ukraine / poland few times on peace corp assingments . she is very > bright and dedicated . myslalem zeby ja zwabic do californii ale ten > eastern european pociag jest u niej silniejszy niz u mnie : ) . i have here > resume , wiec jak bys myslal ze jest jakis fit i will foreward it to you . > troche tak mieszanka pisze , przepraszam > bede chyba w houston w pazdzierniku to moze bysmy sie mogli spotkac . > latwiej pewnie by bylo w ny ( mieszkam po nj stronie ( rent jest inny niz > w atlancie : ) ( 201 ) 222 - 0435 ) , wiec daj mi znac jakbys mial czas i ochote . > thanks > roman > | 0 |
Subject: your lap top vince : the it migration team called and said that they need an email from you stating that you do not want your lap top " ghost upped " ? ( not sure if this is the correct term ) . they said they were supposed to do this to all computers during the migration process , but since you requested that they not do this , then they need an email from you with this request . you need to send the email to : kacee downey / enron @ enronxgate thanks ! shirley | 0 |
Subject: cera conference call and web presentationthe final wave of rto filings : the ball is in ferc ' s court - cera conference call title : cera conference call and web presentation * the final wave of rto filings : the ball is in ferc ' s court url : http : / / www 20 . cera . com / eprofile ? u = 35 & m = 2243 electric transmission and north american electric power conference call and web presentation a cambridge energy research associates conference call & web presentation topic the final wave of rto filings - - the ball is in ferc ' s court * some surprises from the independent system operators * will the deadline be met ? the countdown to december 15 , 2001 * the ferc : a soft stance on rto filings ? format at the time listed below , our speakers will address this topic for approximately 30 minutes , with accompanying graphics presented on the internet , followed by an open question and answer period . speakers david clement , cera associate director , electric transmission hope robertson , cera senior associate , north american electric power larry makovich , cera senior director , north american electric power time 1 : 00 p . m . eastern , thursday , february 22 , 2001 eligibility clients eligible to participate in this conference call are those who subscribe to the electric transmission advisory service or the north american electric power advisory service . to enroll to enroll , please return this form via fax to kari paakaula at ( 617 ) 497 - 0423 , or enroll via e - mail at kpaakaula @ cera . com before 4 : 00 p . m . , wednesday , february 21 , 2001 . for the audio portion of the call , please call in on one of the following numbers approximately 10 - 15 minutes before the call : audio netscape navigator 3 . 02 or higher ; or sun hot java ( tm ) * close all desktop applications and disable your screen saver technical assistance : u . s . callers : if you are experiencing difficulties during the call , you may signal for technical assistance by pressing * 0 ( star , zero ) on your telephone keypad after you have connected to the audio portion of the conference . international callers : please re - dial and ask the operator for assistance before giving the confirmation code . for more information , please contact kari paakaula via e - mail at kpaakaula @ cera . com or via telephone at ( 617 ) 441 - 1362 . a recording of this call ( audio only ) will be available until march 22 , 2001 . to access this recording , please call 1 - 888 - 203 - 1112 ( within the u . s . ) or ( 719 ) 457 - 0820 ( outside the u . s . ) . please use confirmation number 507712 to access the call . * * end * * follow above url for full report . come shoot the rapids with us at ceraweek 2001 , " shooting the rapids : strategies and risks for the energy future " in houston , february 12 - 16 , 2001 ! for more information and to register , please visit http : / / www 20 . cera . com / ceraweek / e - mail category : conference call cera knowledge area ( s ) : north american power , to make changes to your cera . com account go to : forgot your username and password ? go to : http : / / www 20 . cera . com / client / forgot this electronic message and attachments , if any , contain information from cambridge energy research associates , inc . ( cera ) which is confidential and may be privileged . unauthorized disclosure , copying , distribution or use of the contents of this message or any attachments , in whole or in part , is strictly prohibited . terms of use : http : / / www 20 . cera . com / tos questions / comments : webmaster @ cera . com copyright 2001 . cambridge energy research associates | 0 |
Subject: re : durasoft - - java class what do you think about option 2 ? - - sg - - - - - - - - - - - - - - - - - - - - - - forwarded by stinson gibner / hou / ect on 01 / 30 / 2001 12 : 54 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - " siva thiagarajan " on 01 / 30 / 2001 08 : 55 : 55 am to : cc : subject : re : durasoft - - java class stinson , ? here are some options considering what you have said : ? 1 ) ? we can do a full week of class from may 7 to 11 . ? 2 ) ? the second option is to split the course over two weeks . if you cannot possibly accomodate a full week of training then we can try this . ? we have done this before and it has worked fairly well . ? it would be like : ? week 1 ( 20 hours ) : ? feb 20 - 23 , tue - fri , 12 : 00 to 5 : 00 week 2 ( 20 hours ) : ? april 9 - 12 , mon - thu , 12 : 00 to 5 : 00 ? these are the only two weeks that are available for venkat to teach before may 7 th date . ? ? please let me know if these would work . ? i look forward to hearing from you . ? ? regards , ? - siva - - - - - original message - - - - - from : stinson . gibner @ enron . com to : siva @ durasoftcorp . com cc : vince . j . kaminski @ enron . com ; clayton . vernon @ enron . com date : monday , january 29 , 2001 4 : 01 pm subject : re : durasoft - - java class siva , ? ? ? ? i will have to check and see if we can accomodate a 5 day 8 to class . ? ? ? also , president ' s day is a holiday for us , so we may have to look at a later date . - - stinson " siva thiagarajan " on 01 / 29 / 2001 08 : 51 : 02 am to : ? ? cc : subject : ? re : durasoft - - java class stinson , i have attached a file along with this email that lists the software needed for our java class . we would like to do the class from monday thru friday , 8 am to 5 pm . ? that way we can complete the class within a ? week . ? we are unable to offer classes in the evenings or for few hours a week . we usually teach week long courses for our other clients and because of that ? we won ' t be available . currently , we can do the class from feb . 19 th through feb . 23 ( that is if you are working on feb 19 th , president ' s day ) . i will call ? you sometime this afternoon to talk further . ? please feel free to reach me if you have any further questions in the mean time . regards , - siva - - - - - original message - - - - - from : stinson . gibner @ enron . com to : siva @ durasoftcorp . com date : friday , january 26 , 2001 5 : 52 pm subject : re : durasoft - - java class > > siva , > > a few additional questions . ? ? can you tell me what software would be > required for the students ? ? ? also , ? when would venkat be available to start > the class and what type of schedule would you recommend ? ? ? would having two > hour classes twice a week from , say , 4 - 6 pm work ? ? we have a high level of > interest and just need to iron out the details . ? ? feel free to call me > ( late afternoon on monday might be best ) at 713 853 4748 or email . > > - - stinson > > > ( see attached file : javasoftwareneeds . htm ) | 0 |
Subject: re : risk model thanks vince . i made some real progress on the paper today . i ' ll try to ship you a revision sometime later this week . take care friend , john at 01 : 14 pm 1 / 17 / 01 - 0600 , you wrote : > > hi john , > > you have a very attractive family . you must be a very proud father and > husband . > > vince > > > > > " john d . martin " on 01 / 17 / 2001 11 : 09 : 29 am > > to : vince . j . kaminski @ enron . com > cc : > subject : re : risk model > > > got it and i understand . thanks > > john > > p . s . have a great day ! by the way , how ' d you like the martin clan picture ? > > > at 11 : 06 am 1 / 17 / 01 - 0600 , you wrote : > > john , > > > > i am sending you an old write - up on the risk management system . > > this is for " your eyes only " , though this info is out already . some people > > left > > the company and also the consultants who audited the model use these > ideas . > > > > > > vince > > ( see attached file : overo 907 . doc ) ( see attached file : prico 912 . doc ) > > attachment converted : " c : \ windows \ desktop \ overo 907 . doc " > > > > attachment converted : " c : \ windows \ desktop \ prico 912 . doc " > > > john d . martin > carr p . collins chair in finance > finance department > baylor university > po box 98004 > waco , tx 76798 > 254 - 710 - 4473 ( office ) > 254 - 710 - 1092 ( fax ) > j _ martin @ baylor . edu > web : http : / / hsb . baylor . edu / html / martinj / home . html > > > > john d . martin carr p . collins chair in finance finance department baylor university po box 98004 waco , tx 76798 254 - 710 - 4473 ( office ) 254 - 710 - 1092 ( fax ) j _ martin @ baylor . edu web : http : / / hsb . baylor . edu / html / martinj / home . html | 0 |
Subject: encounter article - shalesh ganjoo we have conducted an interview and written the attached article for the upcoming edition of the encounter , the associate & analyst programs ' newsletter . the interview was conducted with shalesh ganjoo in regards to his participation with the implementation of storage capacity as a commodity . to ensure our publication is printing the most accurate information , i have attached the article for your review . please confirm that the information provided from shalesh ganjoo is accurate . thank you in advance for your assistance , tracy arthur communication specialist associate & analyst department 713 - 345 - 7853 | 0 |
Subject: re : agenda for next week ben , i spoke with anjam and gave him the information about my trip . here is the short summary : 1 . if you are free for dinner on sunday , i would be glad to meet with you ( as well as anjam and steve ) . i would like to review what ' s going on in houston and london . 2 . we can arrange the interviews for all the candidates you lined up monday afternoon ( tuesday and wednesday mornings are the alternative dates ) . we treat the interviews as internal to the research group and we shall arrange full interview schedules at a later day for those candidates who pass our internal test . 3 . please , feel free to put on my agenda other meetings you think might be useful . please , coordinate the meetings with anjam and steve . i am busy on tuesday afternoon ( i a speak at a conference ) . vince benjamin parsons 02 / 14 / 2000 08 : 18 am to : vince j kaminski / hou / ect @ ect cc : shirley crenshaw / hou / ect @ ect subject : agenda for next week vince , could you give me an idea of your agenda for next week ' s london visit - in particular which day ( s ) would be best to bring some candidates in for interviews for my old role . thanks ben | 0 |
Subject: rabi de toni : we talked to rabi . he ' s sitting on the fence for some good reasons , and he has to weigh what is fairly comfy job situation for one that starts out at a lower level but has more potential . wrt the green , vince verbally offered salary of $ 105 k plus a guarantee that his bonus at year end would be a minimum of $ 15 k cash . that ' s in addition to the $ 15 k sign on bonus . vince said that we would not bother working up a revised offer letter unless and until rabi came back with a verbal ok . he will ponder the offer ; probably for a few more days and get back with us . he may well call you to discuss the exact details of the benefits . esop , 401 ( k ) contributions , etc . regards , grant . | 0 |
Subject: wharton trip jim , no changes in the schedule . the meeting will take place , as scheduled , on the 6 th of december at 9 : 00 a . m . we may have to cancel lunch with the professors as they have other commitments . the meeting will last about 2 hours . vince | 0 |
Subject: option p & l gentleman : the erms system , as you know , has an excellent capability for decomposing option p & l into the following components : new deals curve shift gamma vega theta rho drift 2 nd order adjustments what i dont understand is the gamma component which is reported in dollars . the unit of measure suggests that incremental changes in a contract position is being associated with specific prices . these prices are the effective buy or sell prices associated with the dynamic delta position . stated differently , the standard taylor expansion has incorporated a price variable in such a way as to convert the unit of measure from gamma ' s standard contract count to total gamma dolalrs . this is something i dont understand . to date , inquiries to the risk management accounting group has further revealed that the gamma component of p & l is not well understood . this is what concerns me : bridgeline has 2 books with option exposures ( nymex and gas daily ) . both books dynamically hedged its positions during yesterdays large price move and , through anticipitory hedging in advance or during the large price move , secured sufficient coverage to neutralize expected changes in delta . however , our p & l from our underlying position did not offset our gamma p & l . consequently , i have to ask why ? im hoping that a brief look at the why gamma dollars are calculated may reveal something which will better guide our hedging decisions . any help is appreciated | 0 |
Subject: re : enron tiger dinner donna , thanks for the restaurant recommendation . i would appreciate if you could coordinate the dinner with the students and the faculty . you can expect 4 persons from enron but the restaurant should allow for some flexibility , just in case . if the restaurant needs a credit card number or a security deposit , you can refer them to my assistant , shirley crenshaw at 713 853 5290 . vince piazze on 11 / 29 / 2000 12 : 34 : 33 pm to : " ' vkamins @ enron . com ' " cc : " ' piazze @ wharton . upenn . edu ' " subject : enron tiger dinner vince : i look forward to seeing you and jeff shankman next week in regard to the enron tiger kick - off meeting scheduled for wednesday , dec 6 in vance hall 210 from 3 : 00 - 5 : 00 pm . you mentioned possibly wanting to take the group to dinner after the presentation . i would like to recommend the palladium restaurnat , which is on locust walk here on campus . you may want to view their website at www . . com i think they have a nice menu and can accomodate large groups . there are several menus from which to choose , as well . please let me know if you would like for me to set this up for you and i will notify the students and faculty . please let me know if i can assist with your visit in any way . regards , donna piazze | 0 |
Subject: calling @ 2 pm me . . . 4 pm you hi vince , thank you for allowing me the call to speak candidly with you tomarrow ( 1 / 9 / 2001 ) @ 2 pm pst ( 4 psm central ) about my students / candidates asking about enron . i am looking forward to the conversation . best wishes , jeff wesley ps - pls review the attachments below on your coffee break . thanks . pss - ask me about the controversial attachment i wanted to send you - but , didn ' t . always held in strict confidence . 949 813 2241 hotline 347 487 8957 voice / fax us ( 011 ) + 44 ( 845 ) 3341644 uk - - - - - begin pgp public key block - - - - - version : pgpfreeware 6 . 5 . 3 for non - commercial use 2 w 4 duudd 3 yisxx 8 wy 2 o 9 vpji 8 bd 8 kvbgi 2 oulwmufo 4 ozt 9 fbdxq 6 mdggzemyestsr / pogxkuayeyl 8 6 vq rpmynofdopnqnyej 2 + m 9 zwwyw 3 gbij 4 vktfyngoqevl 3 l 9 hg 2 l 7 lsls + 8 ywlvcqb llmkul 3 lxa 9 idp 6 bzu 9 drwdfrba 5 rdvbfylolythsp 0 zg 4 lolurfgyy + iakwe / 5 n 78 fc 32 lczbj 8 rvsvh + qljiyisjdvambww 4 hjlzc 9 tipdtggz 6 g 5 lgg 8 dfw 74 ezsx lzsy + zzncacst / dveok / + y 4 nrumqor + qggo 9 l 9 gwpqu 5 blxenpedteczmwome 48 z glkh + bz 39 qcfvc + hxgi 7 ogcon / rseitrweao / sy = = 2 nkw - - - - - end pgp public key block - - - - - * get free , secure online email at http : / / www . ziplip . com / * - private 9498132241 . pdf - worththemoney 9498132241 . pdf | 0 |
Subject: re : hello hello vince , how are you this week ? my week is pretty relaxing - i am taking the training for the very last product of my company , called voicenet , and i will achieve the highest state of initiation with destia ( viatel ) products , ha . . . unfortunatelly i have not been promoted for business vip representative ( the position associated with t - 1 ) as i do not have any experience with it . i am blaming myself because i cannot discipline myself to study consequently every day for gmat . all the best to you and see you on saturday . patrycja - - - - - original message - - - - - from : vkaminski @ aol . com [ mailto : vkaminski @ aol . com ] sent : tuesday , march 14 , 2000 5 : 26 pm to : patrycja . dalecka @ destia . com subject : re : hello hello , still in new york . leaving tomorrow night for houston . see you on saturday . i shall send you more detailed directions on friday . take care . vince | 0 |
Subject: mg metals - london research responsibility dear all , please ensure that all requests for metals research support in london are directed / forwarded to me in the first instance ( e . g . option pricing , var ) . this is to ensure speediest response time and to avoid duplication of effort as well as confusion on the part of our mg counterparts due to multiple ( duplicated ) requests for information . tanya and i are currently developing version la of the var models for mg metals . vince , ted and mg metals are looking to tanya and i to provide leadership in this area for the integration effort and after production of var v . 1 a , i will look to pass on responsibility for mg metals var systems integration to kirstee hewitt for the london side . regards , anjam ahmad research x 35383 | 0 |
Subject: re : response from lenos steve , i shall e - mail you my standard real option spin presentation + plus a presentation on enron ( for analysts ) . you can use a few slides to introduce the company . i would prefer not to disseminate the information about the use of amc . the industry does not know about it yet and i consider it a very powerful tool ( given its flexibility ) . i have the files on my laptop . i shall bring it to work to morrow and send it to you . please , remind me about it on thursday ( old age and the hectic pace here start showing up ) . vince steven leppard 04 / 26 / 2000 05 : 09 am to : vince j kaminski / hou / ect @ ect cc : subject : response from lenos vince lenos got back to me , and said he ' d prefer a high - level overview of real options in enron , perhaps using my notation to express the ideas . he wants me to keep away from the technicalities of my work . would you send me your ( usual ) powerpoint presentation on real options , and i ' ll look at manipulating it to include my diagrams . my own efforts to date have been on fairly limited power plant modelling / asset development , and i obviously don ' t have the high - level view you have . this will ensure i get the full range of real option type deals in my presentation . if required i could present the real option problems i have analysed , namely : 1 . maintenance scheduling in power plant operation ; 2 . gas storage ; 3 . power plant asset development , which would include ( 1 ) as a sub - tree . i will also need your advice on whether i can talk about the fact that we prefer american monte carlo to build our trees . i haven ' t used amc myself up till now , i ' ve been carrying out static optimizations , with different price curve scenarios being run through . i ' m still working on selling the full stochastic dynamic programming approach - people are just getting to the stage of accepting my deterministic dp , and they ' re still being supplied with useful products , as per my " real options strategy " document . cheers , steve | 0 |
Subject: professor bitran ' s visit colleagues , professor gabriel bitran of mit will be visiting enron on wednesday 9 august . he will be here all morning . he would like to meet and discuss with us some of the issues and problems that are of interest to ebs . the goal is to suggest a research subject for one of his students that is of interest to ebs and its business . please let me know if you are interested in meeting him . i suggest having one open meeting ( perhaps one hour ) in which all of us can sit down and discuss the issues with him . - samer | 0 |
Subject: re : steve leppard vince , i agree - i ' ll talk with sherriff when he gets back to london next week . - dale vince j kaminski 11 / 07 / 2000 20 : 49 to : dale surbey / lon / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : re : steve leppard dale , my recommendation is to make steve the head of the research unit in london . we were talking originally about september but i think we should accelerate this process . of course , anjam will be very unhappy about it , but we cannot manage around him any longer . i think that the promotion should be combined with a salary increase . i would like to offer him a significant increase that goes with expanded responsibilities and much higher visibility . a salary increase will also bring him closer to the market . we see the market for technical people going through the roof in practically every location where we operate . a contract is not a good solution in my view . it creates a sense of false security for both an employee and the company . i shall send a message to john sherriff with my recommendation . i shall cc you . i would appreciate if you could bring it up with john as well . vince dale surbey 07 / 11 / 2000 10 : 23 am to : vince j kaminski / hou / ect @ ect cc : subject : steve leppard hi vince , hr is working on a mid - year salary review for london people that have a noticeable gap between their compensation at enron and what we would have to pay in the market for a replacement . they highlighted steve as someone with a potential gap - particularly in light of what we ' re seeing in our quant recruiting effort for credit trading and research . i ' d like your opinion on the best way to make sure we keep steve happy and keep him at enron . there are several things i see we can do : 1 ) give him a mid - year pay increase to move him closer to market . i ' m not sure this is the best way to go , especially if we only offer him a token salary increase . 2 ) offer him more responsibility : what are your thoughts on timing for making steve the official head of the london research team ? with my move to ebs , should we accelerate this ? i think this is good way to keep him happy and motivated , and then follow up with a more meaningful salary review at year - end ( as part of the regular process ) that takes into account his greater responsibility . 3 ) we have some people that we ' re trying to get under long - term ( 3 - yr ) contract with a 12 - month notice clause . obviously anyone signing one of these will want significant up - front compensation for being handcuffed . we ' ve not had a lot of success with these here in london , and i would prefer to keep steve happy so he wants to stay with enron rather than contractually binding him to the job . i ' d value your thoughts on this . thanks , dale | 0 |
Subject: receipts from visit dear vince , thanks again for taking the time to visit . ? both faculty and students got a lot out of your presentations . i have a favor to ask concerning the expense reimbursement process . ? can you mail all travel and lodging receipts to my secretary joan payne at the following address : joan payne department of finance 2163 ceba louisiana state university baton rouge , la ? 70803 thanks , jim garven james r . garven william h . wright , jr . endowed chair for financial services department of finance 2158 ceba e . j . ourso college of business administration louisiana state university baton rouge , la ? 70803 - 6308 voice ( 225 ) 388 - 0477 ? | ? fax : ( 800 ) 859 - 6361 e - mail : ? jgarven @ lsu . edu home page : http : / / garven . lsu . edu vita : http : / / garven . lsu . edu / dossier . html research paper archive : http : / / garven . lsu . edu / research . html | 0 |
Subject: the garp 2001 convention dear mr kaminski thank you very much for your prompt reply and for the information you sent me . i have incorporated this information in the program and am sending you it again for one last confirmation . ( in particular , i hope that i have your job title and organization name correct ? ) . measuring energy risk ) tackling price volatility , adapting var , scenario modelling and regulatory requirements the challenge of modeling price dynamics in the energy markets . - seasonality - fat tails - jumps - mean ( or floor ) reversion price volatility in the energy markets : definition and estimation adapting value - at - risk for the energy markets : - combination of physical and financial contracts - correct representation of price dynamics and inter - market price relationships - capturing complexity of energy contracts historical vs . monte carlo simulation vs . scenario analysis . pros and cons of different approaches regulatory uncertainty and value - at - risk vince kaminski , managing director , research , enron corp . if there are no alterations required i will assume that everything is fine as it is and will proceed to the printers in due course . i also look forward to receiving a short biography of about fifty words in due course . ? if you have any queries please do not hesitate to contact me , otherwise i look forward to seeing you in new york in february . ? kind regards ? andreas _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ andreas simou garp 2001 - conference producer tel ? + 44 ( 0 ) 20 7626 9301 fax + 44 ( 0 ) 20 7626 9900 | 0 |
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