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Subject: credit business plan hi jeff , my research colleagues and i are working on a document to lay out our credit derivatives modeling strategy . for lack of a better term , we refer to this as our credit business plan . it is my understanding that various business plans have been previously written for the credit group - one by gillian johnson and another by john bottomley . it would be very helpful to our efforts in the research group , it you would allow us to see these plans . thanks , iris | 0 |
Subject: re : development of a program in " econo - physics " hello shirley , i ' d understood from yannis that he ' d proposed a brown bag lunch where i ' d give a talk and then the discussion about various possibilities would follow . i ' m here until about mid - may and then will go on leave in europe for a year . i could be available to make trips back and forth from time to time to get things started . best regards , joe mccauley | 0 |
Subject: final details for energy course hi , just wanted to let you know some final details about the course : course titles : " energy derivatives : pricing and risk management " and / or " var for energy markets " venue details : dates : 29 - 31 march location : hyatt regency downtown houston , 1200 louisiana street , houston phone : 713 - 654 - 1234 schedule : continental breakfast : 8 . 30 am start : 9 am beverage break : 10 . 30 - 11 . 00 buffet lunch served in course room : 12 . 30 - 1 . 30 pm snack break : 3 . 30 - 4 . 00 pm end : approx . 5 . 30 pm course leaders : dr les clewlow and dr chris strickland , lacima consultants please let me know if you need anything further . thanks and enjoy the course ! sincerely , julie lacima consultants | 0 |
Subject: re : stanford project - - - - - - - - - - - - - - - - - - - - - - forwarded by stinson gibner / hou / ect on 01 / 03 / 2001 08 : 54 am - - - - - - - - - - - - - - - - - - - - - - - - - - - stinson gibner 12 / 27 / 2000 05 : 04 pm to : nick bambos @ enron cc : subject : re : stanford project nick , hope you had a nice christmas . best wishes for the new year . it would certainly be great to see you and to meet eric some time in the next few months . everyone here was very impressed with giuseppe and we are eager to have another of your students come to enron . enron broadband is continuing to evolve and the current vision is to rely on enron ' s trading expertise while trying to minimize our role as an engineering company and innovator of technology . i spoke recently with jim fallon , the current head trader in ebs , and we put together a short list of topics of interest where you might be able to help educate us . i put these in the order of interest ( to mr . fallon ) . 1 . where will bandwidth prices go ? the direction of prices , obviously is the concern of any trader . we realize that technological innovation will continue to drive down prices , but are still interested in trying to quantify how fast prices will fall , if there are likely to be certain bottlenecks in the fiber network where you could see prices stable or rising for some length of time , if there are applications on the horizon which would use such prodigious amounts of bandwidth as to have some effect on pricing , and if there is a rational way of trying to quantify the timing and effect on prices of new technologies . the term " bandwidth " might primarily mean lit fiberoptic capacity , but could also incompass dark fiber , or ip transit and transport pricing . 2 . during the last year , enron purchased a company known as " warpspeed " in order to acquire their metarouter technology . to quote from the enron press release : " metarouter sends signals throughout distributed networks to determine the optimal connectivity paths for any size bandwidth capacity from anywhere in the world . capable of processing thousands of connections per second , metarouter significantly enhances enron , s ability to automate circuit provisioning . " there may be two separate questions to ask here . first , in the context of the current market ( or the market which may develop in the next 1 - 2 years ) , will the metarouter be a commercially viable product ? that is , will it address an actual need in the market , or would it be more cost effective just to use technicians with jumper cables to provision circuits ? the second question ( our first real technical question ) : is the metarouter technology scalable ? before starting on this project , vince and i will need to make the proper introductions with the principles who are implementing this technology . 3 . aggregation of loads . a recurring question comes from a number of areas such as ip , network storage , and streaming media transport sales : what value can i get form aggregating customers , each of which has some type of stochastic load profile ? giuseppe touched on this problem as it relates to ip transport , but it may be interesting to try and look in more detail . the main stumbling block may be that we currently have basically no actual customer data . i am told that in a few months we will have some more useful history . my understanding is that what will be available will be 5 - minute averages of usage , so we still will not know on a short time scale what the distribution of load looks like . i hope that this gives you enough information to get some idea of what our concerns are at this point . please let me know your thoughts about these topics . i would expect , for instance that question number 1 may not be reasonable as a research project , but might be a question which you would feel comfortable in addressing by giving us your qualitative opinions , maybe in the form of a talk here at enron . again , let me know your thoughts , and i look forward to seeing you again soon . stinson nick bambos on 12 / 20 / 2000 12 : 14 : 40 pm to : vince . j . kaminski @ enron . com cc : stinson . gibner @ enron . com subject : stanford project hello vince and stinson , first of all , best wishes for happy holidays ! ! ! ! if you are in the stanford area during the holidays , let ' s get together some time to have dinner . i have formally established the project - thanks again for funding it - and i have also recruited the second phd student . his name is eric cope , and he is a top - notch student , very mature , and entrepreneurial ! we have started working on some interesting problems in this area . i would hope that eric could spend the coming summer at enron to get immersed into the " problem / opportunity generation environment . " that really helps the student to develop a realistic vision about their research . perhaps , our whole team could visit enron again some time in the next quarter , say in march or so , to discuss the research issues we are pursuing . and of course you could visit us before that too . with my warmest wishes , nick | 0 |
Subject: update : ffvols ted , an update on the implementation for ffvols : ( 1 ) in comparing 6 days of historical var calculations ( with that of the implied ) for agg - gas , we have found that the historical var calculations are consistently lower over this period , by roughly 17 mm . the implied volatilities are much higher at this period , anticipating strong winter prices . ( 2 ) at this time , the consensus is not to relase the historical implementation into production , and the official line to traders will be that the method is still in testing . the historical var is 19 . 2 mm and the implied is 37 mm for effective date of 09 / 25 . ( 3 ) further testing is in progress on a hybrid methodology ( which i mentioned last week , whereby historical vols are scaled by the ratio of prompt to historical - prompt volatilities ) , to atleast capture some implied / forward effects . tanya ' s analysis on a fictitious portfolio indicates higher var numbers , but poorer backtesting in comparison to the historical approach . this approach serves as an intermediate , and seems appropriate in periods such as the current one , wherein the historical numbers might be considerably lower than those of the implied . ( 4 ) winston will start testing using these hybrid vols , and if the results are deemed satisfactory , that will be the production methodology . of course , we will obtain all var numbers concurrently to serve as different indicators and beacons of risk . the production number will hopefully be a sensible compromise of the different methods . regards naveen | 0 |
Subject: re : stinson gibner paula : he should access eci on our equipment , and the work that he is doing for ena should be provided by them . lyn : can he bring his current pc with him , or can you provide him with another system ? thanks richard weeks enron communications inc . purchasing manager 713 - 853 - 6995 paula corey 01 / 10 / 00 08 : 44 am to : richard weeks / enron communications @ enron communications , culley harrelson / enron @ gateway cc : vince j kaminski / hou / ect @ ect , richard weeks / enron communications @ enron communications subject : stinson gibner gentlemen : stinson gibner will be joining us at desk location 4415 c . i have spoken with it re : a new laptop for him on the eci lan . he will also need access to his ect ( ena ) system . how should we proceed with duplicating his workstation from 19 ? thank you paula | 0 |
Subject: fw : enron contact info vince and jeff . . . the following is " fyi " . . . my assistant is working on the flight arrangements . also , " fyi " , the doubletree and other downtown hotels were entirely , or mostly , sold out , but my assistant found a good rate at the warwick [ $ 115 ] by herman park , where everyone will be ' housed ' in the same location for one night - - i also think this location is a good ' houston - sell ' . dinner is scheduled for 7 thursday evening at churrasco ' s , and my group is arranging the " tourenron " - - breaking this group into 2 . [ fyi : the energy club from smu ( another skilling alma mater ) had long ago also schedule a tour that day , so we ' ll have 19 from smu and 18 from wharton on the same day . . . but so far , all seems manageable . ] as " tour times " are set , and business unit interview requests are received from the students , i ' ll keep you posted . thanks ! - - christie . - - - - - - - - - - - - - - - - - - - - - - forwarded by christie patrick / hou / ect on 12 / 19 / 2000 05 : 30 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - fap on 12 / 19 / 2000 01 : 49 : 52 pm to : " ' christie . patrick @ enron . com ' " , " ' melinda . mccarthy @ enron . com ' " cc : fap subject : fw : enron contact info christie ( melinda and / or marie ) all contact info is listed below by team and project , as well as faculty , ta and others . those with ( * ) will be traveling to houston . i have a total of 18 attending . according to my records , the following will stay beyond the friday departure ( at their own expense ) and leave houston on sunday , 21 jan : heather thorne , jack rejtman , deepa mallik , donna piazze . dennis feerick would like to depart on sat am , if possible . he sent a separate email addressing this . enron 1 * vincent chen vincent . chen . wgo 2 @ wharton . upenn . edu enron 1 * nick levitt nicholas . levitt . wgo 2 @ wharton . upenn . edu ( wholesale project ) enron 1 * deepa mallik mallikd @ wharton . upenn . edu enron 1 * jack rejtman jack . rejtman . wgo 2 @ wharton . upenn . edu enron 1 * kim whitsel whitselk @ wharton . upenn . edu * * * team contact enron 1 * tulika bhalla bhallat @ wharton . upenn . edu enron 2 * jaideep singh singhjai @ wharton . upenn . edu enron 2 * edson otani edsono @ wharton . upenn . edu enron 2 * joshua leventhal levent 86 @ wharton . upenn . edu * * * team contact enron 2 * pat henahan mhenahan @ wharton . upenn . edu ( future shape of energy markets project ) enron 2 murat camoglu camoglum @ wharton . upenn . edu enron 2 * gustavo palazzi gustavop @ wharton . upenn . edu enron 3 * clay degiacinto enron 3 * steve lessar stephen . lessar . wgo 2 @ wharton . upenn . edu enron 3 * ram vittal mvittal @ wharton . upenn . edu * * * team contact enron 3 jason cummins marc . cummins . wgo 2 @ wharton . upenn . edu ( retail project ) enron 3 * omar bassel bassalo @ wharton . upenn . edu enron 3 * dennis feerick dennis . feerick . wgo 2 @ wharton . upenn . edu professors : louis thomas thomas @ wharton . upenn . edu keith weigelt weigelt @ wharton . upenn . edu ta : heather thorne hethorne @ wharton . upenn . edu * fap : donna piazze piazze @ wharton . upenn . edu * | 0 |
Subject: re : lloyd , yes , this would be very useful . i was told that we should not do any official business with mg until july 15 . i don ' t want to violate those rules of engagement and go beyond casual contacts . after the 15 th all the stops are off . vince from : lloyd fleming 07 / 07 / 2000 01 : 51 am to : vince j kaminski / hou / ect @ ect cc : subject : re : no problem - i do think this could wait until mg are more closely integrated in any case . a useful first step might be an email to relevant trading staff at mg outlining briefly what maureen does and how she can provide a service to them . would you like me to send her a list of potential people to email ? regards lloyd vince j kaminski 06 / 07 / 2000 23 : 39 to : lloyd fleming / lon / ect @ ect cc : vince j kaminski / hou / ect @ ect , maureen raymond / hou / ect @ ect subject : re : lloyd , i think that we can arrange a few video conference meetings instead . i don ' t see a justification for extending the stay over the weekend if we have an alternative solution . vince enron capital & trade resources corp . - europe from : lloyd fleming 07 / 06 / 2000 12 : 37 pm to : vince j kaminski / hou / ect @ ect cc : maureen raymond / hou / ect @ ect subject : vince i met maureen yesterday and had a useful discussion on her role within enron . i think it would be very helpful to promote the research group function of the company , particularly given maureen ' s background , if she could be introduced to some of the main traders down at mg . unfortunately she won ' t have time to meet with mg unless we can schedule some meetings on monday . would you be happy for her to extend her stay here till monday to allow the meetings to take place ? regards | 0 |
Subject: mg var hi - i just wanted to thank cantekin for his help this week to get me up to speed with the project he has been extremely helpful and more importantly patient ! ! cheers kirstee | 0 |
Subject: re : czesc wicku , oczywiscie , ze sie spotkam z radoscia i przyjemnoscia . sporo czasu minelo od czsu , gdy sie ostatni raz widzielismy . w gre wchodzi praktycznie czwartek wieczorem . w srode sie przeprowadzam , a w piatek lece do nj o 21 : 30 . moj telefon : 408 - 855 - 0263 . na razie , grzegorz - - - - - original message - - - - - from : vince . j . kaminski @ enron . com [ mailto : vince . j . kaminski @ enron . com ] sent : monday , february 05 , 2001 10 : 29 am to : gnapi @ intertrust . com cc : vince . j . kaminski @ enron . com ; vkaminski @ aol . com subject : czesc grzegorz , ludmila doniosla mi , ze pracujesz w kalifornii . bede w berkeley w srode i w palo alto w czwartek i piatek . czy masz czas , by spotakc sie na obiad / lunch / kawe ? pozdrowienia wicek | 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 ? 175 / us $ 280 a 4 , 162 pp published : august 1999 review | table of contents | order now in ? | order now in $ for other titles of interest please click here : risk executive reports send this page to a colleaguehigh - frequency financial market datacontentsl . 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 conclusionsl 0 . market makingrevision of prices other aspects of financial markets determinants of the bid - ask spread block trades conclusionsl 1 . conclusion and future developments references | 0 |
Subject: merry christmas dear mr . kaminski , in the name of all the mscf students i would like to wish you and your family a merry christmas and a happy new year . thank you very much for taking the time to come here and talk with us . it was greatly appreciated . best regards , pierre | 0 |
Subject: re : thursday visit frank , we are located at 1400 smith . any cab driver can identify the enron building . when you arrive , please , call me at 3 - 3848 from the reception to be admitted into the building . alternative phone numbers : 3 - 5290 ( my assistant shirley crenshaw ) . you can also try to call me on my cell phone : 713 898 9960 . the research group meeting starts at 11 : 30 and lasts till 1 : 00 . can you make a presentation about your research projects ? what audio / video equipment do you need ? what sandwich would you like to have for lunch ? we shall make a hotel reservation for you thursday night . vince " francis x . diebold " on 12 / 18 / 2000 07 : 02 : 46 am to : vince kaminski cc : bmierts @ enron . com subject : thursday visit hi vince , looking forward to seeing you thursday . ? i arrive at houston - bush on usair 1769 at 10 : 55 am . ? please let me know where to go . ? i also want to verify that you have booked me a hotel ? for thurs night . ? many thanks , and see you soon , frank - - francis x . diebold wp carey professor department of economics university of pennsylvania 3718 locust walk philadelphia , pa 19104 - 6297 fdiebold @ sas . upenn . edu http : / / www . ssc . upenn . edu / ~ diebold ( 215 ) 898 - 1507 ? telephone ( 215 ) 573 - 4217 ? fax ? | 0 |
Subject: marketing ideas for power 2000 dear vince i am delighted that you have agreed to take part in the energy and power risk management 4 th annual congress ? power 2000 ? which will be taking place on 9 & 10 may 2000 in houston , tx at the houstonian . as you know energy and power risk management magazine has an excellent reputation in the energy community and we want to make this event as successful as possible . we are currently in the process of launching the event and researching the publications and associations mentioned during the research for the conference to make sure that we are getting the best coverage . before we complete the marketing plan for the conference we want to be sure that we are reaching all the people who may be interested . we constantly strive to improve the marketing of our events and therefore we ask our speakers for further ideas and contacts . therefore please could you let me know whether you could help with any of the following . are there any particular people that you need to send brochures to ? - we can carry out any mailing on your behalf if you supply us with contact names and addresses , alternatively i can send you a quantity of brochures do you have any in - house publications or a newsletter that we should insert the course brochure into - or a diary date page that we could be included on ? would you like to write to your clients to invite them to attend ? we can offer them a 10 % discount and can send them a letter or if you prefer to write on your own letterhead we will organise the copying and distribution for you . have you any delegate lists from events you have spoken at or attended with a similar target audience to whom we should be sending information about the course ? do you have an internet site on which the course could be mentioned ? do you have any other ideas ? any suggestions would be welcome . our marketing manager , caroline hyndman will contact you in the near future to discuss any ideas you may have . alternatively please give me a call on 212 925 1864 ext 151 . thanks very much for your help in this matter . best regards , emma | 0 |
Subject: hi vince , after we hung up the phone yesterday , i sent you an email as we agreed . however today i looked in my " outbox " and see that nothing was sent to you . thus , i ' m trying again . if this is redundant , sorry . attached is a copy of the corporate finance forum i am trying to organize . any comments or suggestions you might have would be appreciated . i look forward to enron getting involved in this project if at all possible . secondly , i am confirming the dates for the two visitors for the risk management chair . philippe jorion , seminar on 2 / 15 and dinner on 2 / 14 andrew karolyi , seminar on 2 / 23 and dinner on 2 / 23 . lets try to go flying sometime soon thanks for your help and support , dave - nfcfproposal . doc * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * prof . david ikenberry jones graduate school of management rice university 713 - 348 - 5385 | 0 |
Subject: the delivery of the equipment you ordered is scheduled . - - - automatic notification system ( request # : ecth - 4 r 5 mlm ) requested for : vince j kaminski requested by : shirley crenshaw your order ( see below ) has been assigned to ron cooper . technician will contact you for information and delivery time . please contact the technician if you have any question . en 6600 desktop p 3 - 600 10 gb 64 mb 32 x nt 4 . 0 en 6600 128 mb installed in desktop 21 " vl 100 monitor | 0 |
Subject: entouch newsletter business highlights east power group enron power marketing , inc . ( epmi ) and enron wind corporation ( ewc ) have joined forces in a deal that combines the expertise of both enron subsidiaries . ewc is developing the indian mesa wind farm in pecos county , tx . epmi has agreed to purchase 135 mw of bundled capacity , energy and renewable energy credits ( firm dates will be announced soon . if you have customers in the area interested in attending , please contact lucy ortiz at 713 . 853 . 3238 . in the news what do enron , compaq , continental airlines and jpmorgan / chase bank know that the city of houston doesn ' t ? they know that in order to attract top talent , they must stay competitive and current in the employment market . domestic - partner benefits are a reality for those companies looking up toward the future and down at the bottom line . does anyone really think these companies would be offering these benefits if they weren ' t cost effective and in the companies ' best interests ? - - houston chronicle ( 02 / 11 / 2001 ) . welcome new hires egm - kyle berryman / weather trading , carla murphy / operational accounting eim - elizabeth hutchinson / fundamental analysis ena - bryant frihart / origination enovate , lea sooter / public relations enrononline statistics below are figures for enrononline as of february 9 , 2001 . * total life to date transactions > 670 , 000 * life to date notional value of transactions > $ 410 billion nuggets & notes & who took the last twix out of the candy jar ? 8 - andrea reed , vice president / fundamental analysis - eim " i ' m having an out of body experience . . . " - scott josey , vice president & co - manager / energy capital resources - ea news from the global flash uk origination team closes first deal under neta congratulations to the uk origination team for closing their first transaction under neta and the first long - term customer contract to be signed under neta terms . on 7 th february , the team signed a 10 - year electricity supply contract with the manx electricity authority , making enron the sole supplier of the isle of man ' s ( iom ) electricity requirements over the next decade . in addition to providing power to the inhabitants of the iom , enron will contractually manage the iom interconnector and all generation to the iom . enron direct expanding customer service operations enron direct continues to go from strength to strength , and as a result of continued growth , is expanding its customer operations to teesside , creating 46 new jobs . enron direct will be setting up a new customer service center at the etol administration building on the wilton international site . the new center is scheduled to open in april and will support enron direct ' s existing call center and customer service operations in oxford . the 46 new employees will be recruited locally . enron credit enron credit announces the closure of its largest european digital bankruptcy swap ( dbs ) transaction to date with a new counterparty . in addition to detailed information on the dbs , registration on the web site ( https : / / www . enroncredit . com / members / join . asp ) provides access to weekly bankruptcy blasts covering current credit risk topics . register today on www . enroncredit . com and take a look at how some of your own counterparties may be performing ! legal stuff the information contained in this newsletter is confidential and proprietary to enron corp . and its subsidiaries . it is intended for internal use only and should not be disclosed . | 0 |
Subject: fwd : mark - to - market return - path : received : from rly - ygol . mx . aol . com ( rly - ygol . mail . aol . com [ 172 . 18 . 147 . 1 ] ) by air - ygo 5 . mail . aol . com ( v 67 _ bl . 21 ) with esmtp ; fri , 28 jan 2000 18 : 00 : 52 - 0500 received : from mailman . enron . com ( mailman . enron . com [ 192 . 152 . 140 . 66 ] ) by rly - ygol . mx . aol . com ( v 67 _ bl . 21 ) with esmtp ; fri , 28 jan 2000 18 : 00 : 36 - 0500 received : from dservl . ect . enron . com ( dservl . ect . enron . com [ 172 . 16 . 1 . 37 ] ) by mailman . enron . com ( 8 . 8 . 8 / 8 . 8 . 8 / corp - 1 . 03 ) with esmtp id xaal 9726 for ; fri , 28 jan 2000 23 : 00 : 07 gmt received : from notes . ect . enron . com ( notes . ect . enron . com [ 172 . 16 . 4 . 33 ] ) by dservl . ect . enron . com ( 8 . 8 . 8 / 8 . 8 . 8 ) with smtp id raa 24406 for ; fri , 28 jan 2000 17 : 00 : 32 - 0600 ( cst ) received : by notes . ect . enron . com ( lotus smtp mta v 4 . 6 . 5 ( 863 . 2 5 - 20 - 1999 ) ) id 86256874 . 007 e 6242 ; fri , 28 jan 2000 17 : 00 : 26 - 0600 x - lotus - fromdomain : ect from : " vince j kaminski " to : vkaminski @ aol . com message - id : date : fri , 28 jan 2000 17 : 00 : 29 - 0600 subject : re : mark - to - market mime - version : 1 . 0 content - type : text / plain ; charset = us - ascii content - disposition : inline content - transfer - encoding : 7 bit - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 28 / 2000 05 : 00 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - from : wade cline @ enron _ development on 01 / 28 / 2000 07 : 17 am ze 5 b to : pinnamaneni krishnarao / hou / ect @ ect cc : sandeep kohli / enron _ development @ enron _ development , vince j kaminski / hou / ect @ ect subject : re : mark - to - market ( document link : vince j kaminski ) sandeep , can dpc sell to mseb and have eipl buy an equivalent amount of power from mseb at another spot on their grid , and then eipl sell to the 3 rd party state ? pinnamaneni krishnarao @ ect 01 / 27 / 2000 04 : 00 pm to : sandeep kohli / enron _ development @ enron _ development cc : vince j kaminski / hou / ect @ ect , wade subject : re : mark - to - market ( document link : wade cline ) sandeep : i met with bob today and discussed the deal structure we put together . on the mark - to - market issue , bob and his colleague wess told me that as long as payments are tied to one particular plant , we cannot m - t - m them . they had same problem with plants here in the us ( like the peaking plants ) and they had to separate the plant from power sales to be able to m - t - m the assocated cashflows . what they did is : they sold power from the plant to an outside party and bought it back from them at completely different ( multiple ) locations . the buyback is not tied to any specific plant and is marked to maket . even if enron can somehow mark - to - market a deal with dpc , it can do so for only 50 % of the cashflows because only 50 % of dpc is owned by outsiders . and a simple loan to an affiliate cannot also be marked to market . bob was suggesting that if eipl buys options from dpc and from some other plants and in turn sells power to ap or karnataka then we could have a case for m - t - m . politically dpc selling power to eipl may not be the best solution , to put it rather mildly ! our alternatives , as i see them , are 1 . do the deal as we structured it . the only difference is that enron doesn ' t mark it to market and income is earned only in 2002 - 03 . 2 . do the deal as we structured it . eipl / enron then sells the contract to another party at a profit . the problem , of course , is finding this party and forking part of the profit to them . 3 . same deal , except revenue securitization is done through an outside party in india ( not eipl ) . bob said he will think about the issues some more this week . let me know when you will be here next week so we can meet with bob together . i will be going to boston for tuesday and / or wednesday ( feb . 1 - 2 ) . i can book an appt . with bob for us . sandeep kohli @ enron _ development 01 / 23 / 2000 09 : 45 pm to : robert butts , pinnamaneni krishnarao @ ect cc : vince kaminski , wade cline / enron _ development @ enron _ development , ananda mukerji , jaiprakash desai / enron _ development @ enron _ development subject : mark - to - market bob , i wanted to continue the analysis on mark - to - market that i had spoken to you about on the phone . i thought that it was getting very difficult explaining the whole transaction by phone , so i am having krishnarao who is in vince ' s group explain the transaction to you . krishna has been helping us structure the deal here in india , and he has just returned to houston from india after working with the team here . he will seek an appointment with you to explain the transaction . i would like you to please spend some time with him , and then based on the discussion please send us a note detailing how sucha a transaction would be marked to market . please cosider the fact that currently there are no such transactions from the indian side . this is a very important transaction for us , and we may need to repeat this in coming months , hence setting up the system to account for these maybe well worth it . also , what i am concerned about is that there will be an enron india ( eipl ) account in india based on indian gaap , and upon consolidation there will be a us gaap accounting in the us . it is here that we would like to have mark - to - market accounting . eipl is structured through mauritius , and then caymen islands . another key question to consider is that when we m - t - m the transaction in the us there will be a tax accruing in the year of m - t - m ( say 2000 ) . however , in india , as a result of the accrual accounting , there will not be any income showing till the year 2002 or 2003 . we will need to know how that would get treated , and whether there is a way to get credit for the tax payable in the us . i am also confused about whether us tax would be levied , since none of the income is being brought back into the us ( remains overseas - subpart - f and other concerns ) . finally , we have been working hard in structuring a fixed price contract and getting a fixed for floating swap in the us ( this is still not allowed to indian corporates ) . i need you to think about this too , and see if some type of accounting will solve this issue . krishna knows what i am talking about , and will brief you on the same . krishna - please walk bob through the three structures we had worked here . look forward to your help and comments . this is going to be an exciting project for us all . regards , sandeep . | 0 |
Subject: rabi de shirley , vince decided to have rabi de for a formal interview . could you co - ordinate with hr to arrange this ? thanks . zimin - - - - - - - - - - - - - - - - - - - - - - forwarded by zimin lu / hou / ect on 07 / 26 / 2000 11 : 01 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 07 / 07 / 2000 05 : 03 pm to : shirley crenshaw / hou / ect @ ect cc : zimin lu / hou / ect @ ect , vince j kaminski / hou / ect @ ect subject : rabi de phone interview shirley , let ' s act on it . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 07 / 07 / 2000 05 : 07 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - zimin lu 07 / 07 / 2000 01 : 51 pm to : vince j kaminski / hou / ect @ ect cc : subject : rabi de phone interview vince , we had phone interview with rabi de . my impression is good . we should invite him for a formal interview . he is a hands on person with wide range of experience ( energy financing , derivatives trading , hedging , etc ) . he communicates very well and expressed interest in financial engineering & modeling . zimin | 0 |
Subject: re : fw : energy book promotion julie , i shall track down fiona . she may be on vacation . vince " julie " on 03 / 22 / 2001 03 : 28 : 34 pm please respond to " julie " to : " vincejkaminski " cc : subject : fw : energy book promotion hi vince , ? i sent the attached for enron ' s approval to fiona grant , but haven ' t heard back . ? in the contract that we signed it states that we need to seek approval from enron if we want to use the company name . ? is there someone else we should direct these requests ? ? hope you are well . ? julie ? ? ? - - - - - original message - - - - - from : julie to : fiona . grant @ enron . com sent : thursday , march 15 , 2001 5 : 20 pm subject : energy book promotion fiona , ? i ' ve attached a letter that is going to be ? sent out to some universities , promoting the energy derivative book . ? are we allowed to mention , " . . . in association with enron corp . " ? ? please see attached . ? should we check with you every time we would like to use " enron corp . " when advertising the book ? ? it will usually follow similar format . ? thanks , julie ? lacima group - covering letter for book brochures . doc | 0 |
Subject: re : vince ' s london visit hi wendy : we have finally made arrangements for vince ' s trip in september . he will be arriving in london monday the 18 th at 9 : 55 am . he would like to set up a meeting with paul and julian sometime on tuesday , the 19 th . just let me know when it is convenient . thanks ! shirley wendy . dunford @ arthurandersen . com on 08 / 29 / 2000 11 : 44 : 14 am to : shirley . crenshaw @ enron . com cc : subject : vince ' s london visit hi shirley i would be grateful if you could give me some dates and times when vince will be free to meet with paul day and julian leake , tom leuthwaite is not available to meet unfortunately during the week that vince is here . kind regards wendy * * * * * * * * * * * * * * * * * * * 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: pjm customer load reduction pilot program approved message sent from the pjm - customer - info mailing list at pjm - customer - info @ majordomo . pjm . com : august 4 , 2000 norristown , pa : the members committee of pjm interconnection , llc approved a customer load reduction pilot program following approval last week by the federal energy regulatory commission ( ferc ) . the program targets existing on - site generation and load management programs at facilities such as hospitals , hotels , factories , and stores during emergency conditions . after september 30 th , the end of the trial period for the program , the program will be evaluated to determine its success . the evaluation will explore program improvements in order to enhance the program as a way to address potential capacity shortfalls next summer . related procedures for interconnecting generation under 10 mw will be discussed through pjm ' s committee process for additional advisory input and will be refiled for further consideration by the ferc after the stakeholder process . the pilot program was designed through a collaborative fast - track effort of the pjm distributed generation user group . currently , there are 35 participants registered for the program representing a total of 61 . 5 mw . the smallest of these generators represents 200 kw and the largest represents 15 mw . this user group ' s efforts are consistent with the federal energy regulatory commission ' s recent initiative to support interim procedures to assist with the on - going efforts to maintain a reliable electric power system during the summer months . distributed generation benefits the system by either reducing demand or providing additional generating resources . the pilot program is designed to provide additional flexibility during times of peak demand . it is not meant to replace pjm ' s successful generation interconnection process which deals with generation projects applying to become part of regional capacity or to interfere with the active load management ( " alm " ) programs that are in operation . please do not reply to this message . if you have a question for pjm customer relations and training , please send an e - mail to custsvc @ pjm . com . to unsubscribe from this list , send an e - mail to majordomo @ majordomo . pjm . com containing only the following line in the body of the e - mail : unsubscribe pjm - customer - info | 0 |
Subject: 1 candidate and 2 interns bryan please , take a look at the resume of howard haughton . he looks like an answer to your prayers . it ' s the first attachment . vince p . s . jeff , the headhunter , can be reached at ( 949 ) 813 2241 . please , set up the interview , if interested , through him . - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 18 / 2001 01 : 57 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - " $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ " on 01 / 12 / 2001 12 : 51 : 59 pm please respond to " $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ " to : vince . j . kaminski @ enron . com cc : molly . magee @ enron . com subject : 1 candidate and 2 interns hi vince and molly . here attached is one candidate who is particularly interested in having his profile sent to vince . . . he is going to be traveling to ny from the uk soon for 2 wks . he specifically asked my partner at robertwalters in the uk to investigate enron through my new relationship with you guys . he would be howard haughton , attached below ( cv ) . the other 2 resumes are my students at the university of michigan . howard lin received a 4 . 0 / 4 . 0 for his last term and will be willing to do whatever it takes to intern at enron for june - aug . i have his picture included as well . the second is sung , they are friends . howy will be done expected in may 2001 and sung in may 2002 . they are my favorite interns and i expect they can be cultivated to the enron culture with no real cost to you ( a " test drive before committal . i have agreed to represent them and shall take ownership , as they become graduate candidates upon their degree completion . i hope these attachment can represent my value and commitment to quality of talent to enron . thank you for your acceptance . best wishes for the weekend . jeff * get free , secure online email at http : / / www . ziplip . com / * - 00343938 alec . doc - sungvince . doc - howardagent 9498132241 . doc - howardlin . gif | 0 |
Subject: directions to the tamiment resort and conference center , location of the 20 th annual conference dear participants : here are the directions to the tamiment : from new york fax : 973 - 353 - 1348 http : / / www . rci . rutgers . edu / ~ crri crri @ andromeda . rutgers . edu center for research in regulated industries rutgers university - graduate school of management 180 university avenue , room 200 p newark , nj 07102 - 1897 phone : 973 - 353 - 5761 ; fax : 973 - 353 - 1348 http : / / www . rci . rutgers . edu / ~ crri crri @ andromeda . rutgers . edu | 0 |
Subject: presentation slides good morning vince : this is a reminder for you to send me the slides of yesterday ' s presentation at your earliest convenience . as far as lunch is concerned , right now i am totally free for next week . spyros | 0 |
Subject: a colossal and dangerous failure - cera alert title : a colossal and dangerous failure url : http : / / www 20 . cera . com / eprofile ? u = 35 & m = 2185 overview : western energy * california governor stays the course california governor gray davis provided his strongest public statements to date regarding the state , s power crisis in his annual state of the state address on january 8 , 2001 . echoing many of his previous positions on what he perceives as a flawed and unfair california market structure , the governor labeled the state , s electricity market system a colossal and dangerous failure . among other actions , he launched new initiatives valued at $ 1 billion to encourage conservation , provide financing and land to new generators , grant authority to utilities to engage in a portfolio of transactions to manage electricity costs , and increase regulatory scrutiny of existing market suppliers . the governor also called for a greater role for the state in overseeing and constructing new power plants . the governor acknowledged that the actions proposed are only some of the steps necessary to put california on the road to recovery . details regarding sources of funding for the initiative are still forthcoming . although he stated that california , s investor - owned utilities must not be allowed to go bankrupt , no formal plan for ensuring their solvency was given . the financial community continues to lack the assurance it requires to continue to provide financial backing for pacific gas and electric and southern california edison . at this time the state legislature remains the body most likely to guarantee their solvency . the governor again criticized the federal energy regulatory commission for what he believes has been its failure to manage and restrain properly the wholesale market . merchant plant generators were accused of gouging the state , and it was suggested that these generators acted illegally in their operations , jeopardizing the reliability of the power grid . new , more severe sanctions were promised for those caught withholding power or extracting what investigators find as unreasonable profits . a los angeles times poll released the morning before the governor , s address indicated that the majority of californians still do not believe there is an energy crisis . although the 33 percent growth in the state , s economy over the past ten years has nearly outstripped the state , s and surrounding region , s supplies of power , the bulk of the governor , s statements continue to focus on the culpability of power producers , rather than the serious supply shortfall . though the governor introduced steps to fund and facilitate the construction of new generating plants , increased regulatory scrutiny and the threat of sanctions will exacerbate the concern already expressed by plant developers and the financial community that the investment climate in california is excessively risky . * * end * * follow above url for complete 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 : alert cera knowledge area ( s ) : western energy , 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 2000 . cambridge energy research associates | 0 |
Subject: ( no subject ) dear professor shreve , thank you for your message . i shall be glad to make a presentation at carnegie mellon . i am discussing with pierre ste - marie possible dates and it seems at this point that november the 3 rd would be the most convenient day . november the 10 th is an alternative date , but i need a few more days to make a commitment . look forward to meeting you . vince kaminski | 0 |
Subject: re : howard haughton : no can do for wed / thurs . jeff , my associates are leaving for london tonight ( monday ) . they can still interview howard on tuesday afternoon . vince " $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ " on 01 / 29 / 2001 02 : 23 : 12 pm please respond to " $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ " to : rachel . quirke @ enron . com , vince . j . kaminski @ enron . com cc : subject : howard haughton : no can do for wed / thurs . hi rachel . please read the following email from my collegue in the uk who spoke directly to howard a bit ago by tele about wed / thurs interview . can we do this alternative he suggested ? we will have to reschedule - maybe ny ? or after howards trip in houston ? thanks , jeff hi jeff , i ' ve bad news . howard is off to new york on wednesday for 10 days until the 10 th of feb . either enron could fly him to houston after his holiday or maybe vince ' s team could get out to new york . let me know . regards vuthy * get free , secure online email at http : / / www . ziplip . com / * | 0 |
Subject: changes in option valuation in enpower - - - - - - - - - - - - - - - - - - - - - - forwarded by zimin lu / hou / ect on 03 / 21 / 2001 08 : 33 am - - - - - - - - - - - - - - - - - - - - - - - - - - - from : harry arora / enron @ enronxgate on 03 / 21 / 2001 07 : 26 am to : sanjay gupta / enron @ enronxgate , steve nat / enron @ enronxgate cc : zimin lu / hou / ect @ ect subject : changes in option valuation in enpower sanjay wanted to confirm the changes to the option valuations in the enpower we discussed yesterday evening . 1 . currently the trader volatility inputs are the daily vol curve and the intra - monthly vol curve . the monthly options get marked directly to the monthly curve ( plus the smile ) and the monthlies get marked to a time blend of monthly and intra - month vol ( plus the skew ) . we want to change the valuation ( for the eastern books ) so that the dailies get marked to the intramonth curve ( which we want to call the daily curve ) and the monthly gets marked to the monthly curved . there will be not vol blending done by the enpower system for the daily and monthly option valuations . we want to make this change very soon ( by early next week ) 2 . currently there exists one smile for every region , which is specified in terms of volatility additive for specified dollar difference from the underlying . since different months in a region can trade in a large range ( $ 35 - $ 150 ) - this cannot result in accurate skew for all terms . what we need is a system which has skew per month . we suggest , for the short term , the skew should apply only to the summer daily expiration options . we need to make this change by early next week . however , we need to start modifing the system so that for every region we can enter a grid which has a percentage scale and specifies the skew differently for each month . research , has implemented this in our pricing model , and we would like this grid to be input into the valuation system . i am enclosing the pricing model ( which we both discussed yesterday ) for reference . this model is however , work under construction , so pls call alex huang for clarifications . 3 . the vol input system is complex and confusing . i would very much be interested in moving to a direct database interface , which accomodates the skew inputs per region as in . we should implement a ui which can input the dailies and monthlies at the moneys and the skew grid directly - so that we do not need to go through multiple iterations . i am very much interested in what we currently are releasing in delphi and would love an early implementation for options . on all these issues , i am speaking for the east desk . i am going to touch base with west guys and see if they are on board with these changes . thanks harry | 0 |
Subject: re : storage book / luken ' s storage model just a reminder about the storage meeting today , april 27 . it is still scheduled for 3 : 00 pm in 30 cl . thank you . geraldine irvine 04 / 24 / 2000 11 : 44 am to : zimin lu / hou / ect @ ect , stinson gibner / hou / ect @ ect , vince j kaminski / hou / ect @ ect , hunter s shively / hou / ect @ ect , colleen sullivan / hou / ect @ ect , scott neal / hou / ect @ ect , phillip k allen / hou / ect @ ect , thomas a martin / hou / ect @ ect , jim schwieger / hou / ect @ ect , chris gaskill / corp / enron @ enron , bhavna pandya / hou / ect @ ect , jeffrey a shankman / hou / ect @ ect , sean boyle / corp / enron @ enron , ed mcmichael / hou / ect @ ect cc : mark breese / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , airam arteaga / hou / ect @ ect , kimberly brown / hou / ect @ ect , laura harder / corp / enron @ enron , barbara lewis / hou / ect @ ect subject : storage book / luken ' s storage model please plan to attend a meeting on thursday , april 27 , from 3 : 00 - 5 : 00 p . m . to discuss luken ' s storage model and , more importantly , where we want to go with a storage book . this meeting will be in eb - 30 cl . any questions , contact mark breese ( ext . 3 - 6751 ) or gerri irvine ( ext . 3 - 6145 ) . | 0 |
Subject: monte - carlo library stinson , i have created a directory ( o : \ research \ common \ projects \ options \ mclib ) to hold our monte - carlo models we developed in the past . i have the following mc models : 1 . asian option with two - point vol structure 2 . asian barrier option 3 . asian spread option 4 . time spread option 5 . asian digital option do we want to include models using american monte - carlo ? i have 1 . american spread option 2 . option on min or max of n assets with n as an input 3 . omicron option model with 3 price processes i suggest that all of us save a copy of monte - carlo models in this directory , from these , we can build a general monte - carlo library . we can also calculate the mc greeks more efficiently now . zimin | 0 |
Subject: interview schedule - iris mack attached please find the interview schedule , resume , and evaluation form for iris mack . iris will be interviewing on december 28 , 2000 . please contact me with any comments or concerns . thank you , cheryl arguijo ews staffing 713 - 345 - 4016 | 0 |
Subject: re : dinner julie , thanks for the invitation . tuesday would work better for me . i came back from california this morning and i am quite exhausted . what is the number at which i can reach you ? vince " julie " on 02 / 26 / 2001 11 : 00 : 46 am please respond to " julie " to : " vincejkaminski " cc : subject : dinner would you like to get together for dinner with us tonight ( monday ) or tomorrow night ? ? julie | 0 |
Subject: nytimes . com article : the real wolf this article from nytimes . com has been sent to you by vkaminski @ aol . com . / - - - - - - - - - - - - - - - - - - - - advertisement - - - - - - - - - - - - - - - - - - - - - - - \ looking for better it solutions ? toshiba is uniting digital , mobile and network innovations in a bold new vision of information technology for today and tomorrow . take a closer look at life in the new digital age . and imagine how good it can be . visit toshiba . com for more details . the real wolf reckonings by paul krugman ecently i received a letter from an economist i respect , chiding me for my " naderite " columns on the california energy crisis . he just didn ' t believe that market manipulation by power companies could possibly be an important issue ; it sounded too much to him like the sort of thing one hears from knee - jerk leftists , who blame greedy capitalists for every problem , be it third - world poverty or high apartment rents . the left has cried " wolf ! " so many times that sensible people have learned to discount such claims . but now a bona fide wolf has arrived , whose predatory behavior is doing terrible damage to our most populous state * and nobody will believe it . true , california would be heading for a summer of power shortages even if it had never deregulated . and even if there was workable competition in the wholesale electricity market , prices in that market would spike during periods of peak demand , transferring billions of dollars from either taxpayers or consumers to the generators . but the evidence is now overwhelming that there isn ' t workable competition in california ' s power market , and that the actions of generators " gaming the system " have greatly magnified the crisis . the key fact is that california has somehow remained in a state of more or less continuous power shortage and very high wholesale prices regardless of the level of demand . a rash of outages has kept the electricity market conveniently * and very profitably * short of supply even during periods of low demand , when there ought to be lots of excess capacity . as frank wolak , the stanford economist who also advises the state ' s power grid , has pointed out , an outage at a power plant is a lot like an employee calling in sick . you can ' t tell directly whether he is really sick or has chosen to take the day off for other reasons , but you can look for circumstantial evidence . and such evidence has convinced mr . wolak that " generators use forced outages strategically to withhold capacity from the market " * a view shared by a growing number of other researchers . which brings us to the latest move by the federal energy regulatory commission . on wednesday , the commission apparently decided to offer california some relief , and put new price caps in place on the california electricity market . i say " apparently " because the more you look at the plan the less likely it seems to be any help at all . indeed , the measure was passed on a 2 - to - 1 vote , with william massey * the one commissioner who has been sympathetic to calls for price controls * voting against it on the grounds that it would be ineffectual . what ' s wrong with ferc ' s plan ? first , it caps prices only in emergency conditions * ignoring the fact that electricity prices have stayed at hard - to - explain levels even when there is no emergency . in effect , the plan is laid out as if the electricity market were really competitive , in spite of all the evidence that it is not . second , even those emergency price caps are full of loopholes , offering extensive opportunities for what mr . wolak calls " megawatt laundering " * selling power to affiliated companies that for one reason or another are exempted from the price controls ( for example , the controls do not apply to " imports " from neighboring states ) , then selling it back into the california market . severin borenstein of the university of california energy institute adds that because the allowed price depends on the cost of generation at the least efficient plant , generators will have a clear incentive to produce inefficiently : " i predict we will find some plants we never heard of before that are suddenly operating again , and they will be pretty inefficient . " the general verdict seems to be that this is not a serious plan . there are serious proposals to mitigate the crisis out there * indeed , last fall mr . wolak submitted a proposal that was well received by other experts * but ferc has ignored all of them . the charitable interpretation is that ferc still doesn ' t get it , that it just can ' t bring itself to believe that this time the wolf is real . the uncharitable interpretation is that last week ' s action was meant to fail . the medley report , an online newsletter , calls the ferc plan " a grand exercise in posturing without substance . . . a very clever temporary move by the bush administration to deflect any political fallout " from the looming disaster . whatever the explanation , the plain fact is that ferc and the administration have yet to offer california any significant relief . 00 fo 04 b 3 blabf visit nytimes . com for complete access to the most authoritative news coverage on the web , updated throughout the day . become a member today ! it ' s free ! http : / / www . nytimes . com ? eta how to advertise - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - for information on advertising in e - mail newsletters or other creative advertising opportunities with the new york times on the web , please contact alyson racer at alyson @ nytimes . com or visit our online media kit at http : / / www . nytimes . com / adinfo for general information about nytimes . com , write to help @ nytimes . com . copyright 2001 the new york times company | 0 |
Subject: thanks hi keith ! thanks so much for your additional thoughts , which i will definitely pass on to our business units . as for your nephew , please have him send his resume to me . i ' ll be happy to see what i can do . again , on behalf of enron and everyone involved in the project , especially vince and i and ken parkhill , we had a great and informative experience with the entire tiger project . best regards ! - - christie . - - - - - - - - - - - - - - - - - - - - - - forwarded by christie patrick / hou / ect on 04 / 09 / 2001 07 : 15 am - - - - - - - - - - - - - - - - - - - - - - - - - - - weigelt on 04 / 06 / 2001 04 : 40 : 10 pm to : " ' christie . patrick @ enron . com ' " cc : subject : thanks christie ; i wanted to send a short note to express my thanks to enron , and give some additional thoughts about the enron presentation . both students and staff enjoyed our interaction with enron . we hope enron got as much from the project as we did . i also had some additional thoughts about enrononline . - during the presentation , the students referred to a market ' s " critical mass " . however , we never defined what we meant by that . we had several discussions on this topic . i think the best way for enron to think about this is in terms of the psychology of traders . critical mass gives a market liquidity . traders seem to think about liquidity in terms of breadth ( how many products are being traded ) and depth ( the number of bids and offers ) . our thoughts were that when a trader pulls up a screen , he ( or she ) wants to see bids , offers , and trades occurring . so a simple ( and cheap ) metric that enron could use to determine whether rivals are approaching critical mass is simply to pull up screens and see if trades are occurring , and how quickly . traders will generally not use a trading platform that lacks " action " . - in terms of new power , i feel it is extremely important that your managers create an identity for the company . luckily no rival has done this ( though green energy is closer than most ) . the company that can communicate a simple and powerful message will create a competitive advantage for itself . i believe you can differentiate yourself in this market ( though you are selling a commodity ) . since you are essentially selling service , differentiation is always possible . on a final note , i wanted to ask a favor . my nephew recently graduate from michigan state university with a degree in business . i brought him to wharton to work on the tiger projects . this was because i knew he could add value , and because i thought he needed more experience in some strategy areas . he served as project coordinator and worked on several projects ( including enron ) . i was hoping i could get him an interview at enron since he expressed interest in your company . any help you could offer is appreciated . thanks again for making the experience memorable to the students . keith | 0 |
Subject: re : var for metals ted , anjam ' s and myself ' s meeting at mg in ny office on 7 / 20 / 00 was productive . i am working on a summary of this discussions ( 1 a version layout ) and will send it to you after consulting with anjam . regards , tanya . | 0 |
Subject: reuters : ecommerce mr kaminski , the 4 reports that you ordered : european gas market , european electricity market , uk gas market and uk electricity market has now been processed . you should get the 4 reports in the next week or so . also , just to let you know we have just produced 23 ecommerce reports covering all aspects of ecommerce . these reports are very extensive and have all the latest data on ecommerce which is available exclusively within these reports . i have also enclosed a brochure with the title of all the ecommerce reports . if you have any queries of if i can be of further assistance to you in the future , please do not hesitate to contact me directly . regards , miss . mychau phan energy account manager reuters business insight 85 fleet street london ec 4 p 4 al . tel : ( + 44 ) 20 675 7288 / 0990 fax : ( + 44 ) 20 7675 0991 mphan @ rbi - reports . com website : http : / / www . . com / energy - ecommerce cat . . pdf | 0 |
Subject: re : costless collar for hanover bob , good job . zimin bob lee @ enron 01 / 11 / 2001 08 : 10 am to : zimin lu / hou / ect @ ect cc : subject : costless collar for hanover fyi - looks like we ' ve converged . bob - - - - - - - - - - - - - - - - - - - - - - forwarded by bob lee / na / enron on 01 / 11 / 2001 07 : 04 am - - - - - - - - - - - - - - - - - - - - - - - - - - - from : chris loehr @ ect on 01 / 10 / 2001 04 : 50 pm to : ron baker / corp / enron @ enron cc : anne yaeger / hou / ect @ ect , ryan siurek / corp / enron @ enron , wes colwell / hou / ect @ ect , bob lee / na / enron @ enron subject : costless collar for hanover ryan and i have looked at the research model and made some adjustments . the treasury rate at 12 / 28 / 00 was 5 . 127 % ( research uses 4 . 6 % which probably takes into account the recent fed 50 bp cut ) the maturity is 6 / 30 / 03 or 2 . 5 years ( research uses 3 years ) using these assumptions and a 47 . 2 % volatility in the bloomberg collar function results in a ceiling of 92 103 / 256 and a floor of 34 7 / 8 . after adjusting the research model for the changes above , ryan and i got a similar range from the research model so we are comfortable with these numbers . let me know if there are any questions . chris x 33092 ron baker @ enron 01 / 10 / 2001 10 : 52 am to : wes colwell / hou / ect @ ect , ryan siurek / corp / enron @ enron , chris loehr / hou / ect @ ect , anne yaeger / hou / ect @ ect cc : subject : costless collar attached is the updated valuation from bob lee in research using the actual 3 - year historical vol . of 47 . 2 which results in a call strike of 97 . 978 . also , he has confirmed that the presence of the swap has no impact on the value of the collar . let me know if you have questions . thanks , ron - - - - - forwarded by ron baker / corp / enron on 01 / 10 / 2001 10 : 28 am - - - - - bob lee 01 / 10 / 2001 08 : 44 am to : andrea v reed / hou / ect @ ect , ron baker / corp / enron @ enron cc : zimin lu / hou / ect @ ect subject : costless collar here ' s the calculation using the historical volatility . the strike drops slightly . the volatility in the calculation is the expected future vol ; atility - looking at traded options for hc and an expected fall off in vol for long dated options , one could justify a vol estimate in the range 40 - 50 % for the collar . the presence of the swap makes no difference on the collar valuation . bob | 0 |
Subject: re : giuseppe cell phone stinson , no problem . vince stinson gibner 07 / 12 / 2000 11 : 26 am to : vince j kaminski / hou / ect @ ect cc : subject : giuseppe cell phone vince , can i loan to giuseppe my cell phone for the summer ? stinson - - - - - - - - - - - - - - - - - - - - - - forwarded by stinson gibner / hou / ect on 07 / 12 / 2000 11 : 25 am - - - - - - - - - - - - - - - - - - - - - - - - - - - from : samer takriti @ enron communications on 06 / 28 / 2000 10 : 49 am to : stinson gibner / hou / ect @ ect @ enron cc : subject : re : bandwidth trading feature set i will be on the call . i may disconnect around 4 : 00 to attend the traders ' daily meeting . a couple of issues : 1 . would it be possible to get gappy a cell phone for the summer ? he does not have a phone at home . i think the reason for avoiding installing a phone in his apartment is the increasing cost of his houston stay . 2 . it is getting noisier here . gappy and i are wandering if we could get office space downstairs ( that we share ) . we will maintain presence on 44 , but we will be able to discuss when needed . - samer | 0 |
Subject: re : var vince thanks for the update - especially your point 3 which echoes our own discussion yesterday : i want to clarify responsibilities for maintenance and administration of var . we need transparency around the process so that mapping decisions , for example , are easily made , supported and reviewed . it became clear after last friday ' s events , that we are in an awkward paradigm with respect to how we handle var here , particularly at " pressure points " . i am putting together the scope of a " general overhaul " of the var process , including method and administration , to which i hope we would all buy in , so be assured of our co - operation . dp - - - - - original message - - - - - from : kaminski , vince sent : wednesday , april 11 , 2001 2 : 49 pm to : port , david cc : lavorato , john ; kaminski , vince ; tamarchenko , tanya subject : var david , during today ' s var coordination meeting we had a discussion of issues related to mapping of the forward price curves into core locations . mapping is a necessity dictated by the limitations of the computer system : we have to reduce the dimensionality of the problem to stay within the bounds of available cpu memory . also , in some cases the quality of price discovery is poor and it ' s difficult to model the price curves independently : we solve the problem by mapping them into more liquid and better behaved core locations curves . we have agreed on the following : 1 . winston will investigate the it side and determine to what extent we can increase the number of forward price curves that are simulated as basic ( core ) curves . he will investigate the impact of a larger number of the core curves on the time required to complete the var run . 2 . the curves associated with the biggest 10 - 20 positions in each commodity should be modeled as core curves ( i . e . no mapping into other locations ) . it makes sense to monitor the biggest risks separately and avoid aggregating them into less transparent aggregates . 3 . the results of an automated clustering ( mapping ) procedures should be systematically monitored by a human and corrected if they misrepresent the risks of the trading positions . this responsibility should be vested with one person ( right now the responsibility is dispersed through the organization and this means in practice that nobody is responsible ) . research can allocate one person to this task ; cooperation of trading and rac will be critical . vince | 0 |
Subject: re : video conference with ross mcintyre nick , we may have problems getting the vc location in houston on short notice . we are currently on stand - by . we shall default , if we have no other choice , to a phone interview . vince enron capital & trade resources corp . - europe from : nick mooney 04 / 18 / 2000 09 : 09 am to : vince j kaminski / hou / ect @ ect cc : mark tawney / hou / ect @ ect subject : video conference with ross mcintyre vince , you should have received an invitation through lotus notes which outlines the vc location for the conference call tomorrow . it is schedule for 4 : 30 pm uk time ( 10 : 30 am houston time ) ross ' s background is from investment banking ex dresner bank , he has a phd in mathematical and is currently with speedwell weather derivatives where he has been developing weather derivative pricing and portfolio optimisation tools which they have been marketing to end - users with weather risks . the attached word documents are articles that he has written for publication . regards nick mooney - mcs . doc - analytic . doc - par . doc | 0 |
Subject: the national forum on corporate finance andrew fastow enron co . hi andy i don ' t recall sending the above attachment . if so , please pardon my redundancy . attached is some registration details for the upcoming corporate finance conference here at rice . when you get a moment , if you could have someone on your staff return it that would be great . each topic is followed by " panel " discussion . we have you slated to serve on the panel dealing with " equity dilution from option compensation " and will feature work by david yermack from nyu . stu gillan from tiaa / cref will be serving on the panel with you along with john blahnik from delphi automotive . please call me direct if i can be of any help or assistance . dave ikenberry - registation details regarding . doc * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * prof . david ikenberry jones graduate school of management rice university 713 - 348 - 5385 | 0 |
Subject: us gas storage growth huge growth in natural gas storage tracked as the natural gas market approaches 30 tcf per year , demand for natural gas storage capacity will rise exponentially . although the snowball has just started rolling , current plans by natural storage operators will boost working capacity by 430 bcf , or 10 % , and will raise peak - day deliverability 11 . 8 bcf per day , or 13 . 8 % , according to a new survey by intelligence press . intelligence press ' new multimedia research package provides a comprehensive look at all current activity on 458 storage fields with additional key information on 101 lng facilities . among them are 38 proposed natural gas storage fields and 15 storage expansion projects . depleted fields capture the largest share of the proposed fields with 24 , followed by aquifers with six , and salt domes and salt beds with four each . altogether the proposed new fields account for about 329 bcf in working capacity and 9 . 7 bcf per day in deliverability . proposed and potential expansions represent an increase of about 100 . 5 bcf of working capacity and 2 . 1 bcf per day in deliverability . but these projects are just the tip of the iceberg . regulatory changes , shifting natural gas flows and increases in demand due to growth in the economy and particularly in natural gas fired power generation are expected to cause significant additional storage growth in the next decade . for more information go to : www . intelligencepress . com rbac gpcm natural gas market forecasting system - - - - - original message - - - - - from : enerfax daily [ smtp : enerfax @ fastband . com ] sent : friday , march 31 , 2000 1 : 52 am to : * * aaaenerfax subject : enerfax daily ( http : / / www . enerfax . com / ) - atto 0002 . htm | 0 |
Subject: re : clewlow and strickland book steve , i can order the books at 15 % discount . i am sending you 4 copies today and will be glad to order more on your behalf . vince steven leppard 01 / 23 / 2001 04 : 22 am to : vince j kaminski / hou / ect @ ect cc : sharad agnihotri / lon / ect @ ect subject : clewlow and strickland book hi vince is there any way we can lay our hands on clewlow and strickland ' s new book at a preferential price ? steve | 0 |
Subject: re : my model for spikes valery , i am interested in receiving the preprint . on another note , i would be glad to meet you for lunch / dinner sometimes during the next few weeks . please , let me know what would be the best time to meet . vince vincent kaminski managing director - research enron corp . 1400 smith street room ebl 962 houston , tx 77002 - 7361 phone : ( 713 ) 853 3848 fax : ( 713 ) 646 2503 e - mail : vkamins @ enron . com " valery kholodnyi " on 12 / 20 / 2000 03 : 13 : 09 pm to : vkamins @ enron . com cc : subject : my model for spikes dear dr . kaminski , i was recently allowed to release into the public domain on the limited basis the first of the preprints that i recently authored on my model for spikes in power prices and for the valuation of the contingent claims on power . in this regard , i have just given a talk on this model at the joint seminar of the center for energy finance education and research and the institute for computational finance at the ut austin . right now i am also in the process of forming a list of specialists both in the industry and academia who might be interested in receiving this preprint . please let me know if you might be interested in receiving this preprint . i look forward to hearing from you . sincerely yours , valery kholodnyi manager of quantitative analysis research and analytics group txu energy trading ps . here are the main preprints that i have recently authored on my model for spikes in power prices and valuation of contingent claims on power : 1 . valery a . kholodnyi , the stochastic process for power prices with spikes and valuation of european contingent claims on power , preprint , txu - rag - 01 / 00 , july 2000 . 2 . valery a . khlolodnyi , valuation of a swing option on power with spikes , preprint txu - rag - 05 / 00 , august , 2000 . 3 . valery a . kholodnyi , valuation of a spark spread option on power with spikes , preprint txu - rag - 21 / 00 , november 2000 . 4 . valery a . kholodnyi , valuation of european contingent claims on power at two distinct points on the grid with spikes in both power prices , preprint txu - rag - 24 / 00 , november 2000 . 5 . valery a . kholodnyi , valuation of a transmission option on power with spikes , preprint txu - rag - 25 / 00 , november 2000 . as i have indicated to you in my previous e - mail , contrary to the standard approaches , i model spikes directly , as self - reversing jumps on top of a stochastic process for the regular dynamics of power prices in the absence of spikes . in this way the dynamics of power prices is modeled as a non - markovian process , even if the process for the regular dynamics of power prices is markovian . among other things my model for spikes allows for the explicit valuation and hedging of contingent claims on power with spikes , provided that the corresponding contingent claims on power can be valued and hedged in the absence of spikes . | 0 |
Subject: visit to enron tom , i am forwarding to you a copy of the message from nick bambos . i shall try to catch you for a few minutes today ( monday ) to close the loop on this effort . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 03 / 13 / 2000 11 : 15 am - - - - - - - - - - - - - - - - - - - - - - - - - - - nick bambos on 03 / 12 / 2000 05 : 32 : 35 pm to : vince . j . kaminski @ enron . com , bambos @ stanford . stanford . edu cc : subject : visit to enron hello vince , it was nice seeing you at stanford and many thanks for the lunch we had together . i really enjoyed our discussions , both at the technical level and otherwise . i promised to send you an e - mail regarding possible dates for a visit to enron . i delayed it for a week till my schedule was clearer . let ' s see if we can get a match with your schedule - mine is rather terrible : friday , 21 st of april looks good . but april 23 rd is easter sunday , so that may make it difficult for some people at enron to be around . let me know if that is the case . i am willing to visit then , because the week after that i am scheduled to be in japan and in the previous weeks i am all committed on fridays . friday , 19 th of may is the next possibility , but this probably is too far out . the main problem is that i am operating within a window of opportunity for attracting top students for this research . this window closes by the end of april , and it would be important for the student support funds to be in place then , so that i can make hard commitments to students and attract top talent . i am already reviewing files of students who have approached me for phd advising , and i am in a mode of doing " soft commitments to star - level students " to get this research and its potential on their radar screen . top students are highly sought after by advisors and i want to be an early player in this competition . does my visit to enron have to happen before we can set up the project and student support at stanford ? if so , doing it before the end of april is important for getting top people . if the visit can happen after we get the ball rolling , then we can schedule it in may . i assume there will be multiple visits both ways when the project gets going . please let me know what you think . best regards , nick | 0 |
Subject: re : part - time work cantekin we shall get back to you when i return from europe in a week . vince " cantekin dincerler " on 09 / 25 / 2000 12 : 46 : 51 pm please respond to to : cc : subject : re : part - time work vince , i have received the full - time offer package from associate & analyst program last week . apparently they have pretty tight deadlines . because of a certain clause in the contract , i may have to give them an answer by october 16 th . since we discussed this before i left enron , i felt it would be a good idea to inform you of the recent developments . i am looking forward to hearing from you soon regarding both part - time and full - time employment opportunities with the research group . best , - - - - - - - - - oooo - - - - - oooo - - - - - - - - - - cantekin dincerler doctoral candidate the university of texas at austin graduate school of business department of finance office : ( 512 ) 471 - 1676 fax : ( 512 ) 471 - 5073 home : ( 512 ) 472 - 5356 cell : ( 512 ) 680 - 5355 http : / / uts . cc . utexas . edu / ~ cantekin - - - - - - - - - - - - - oooo - - - - - oooo - - - - - - - - - - | 0 |
Subject: re : dinner speaker - may 23 dear mr . kaminski , ? attached ? is the brochure of the eastern conference . ? i have listed you as the dinner speaker for the evening of wednesday , may 23 , 2001 . ? please ensure that your name and title is correct . ? if you have any questions or concerns please feel free to contact me . ? sincerely , ? jeremy t . guenter administrative assistant center for research in regulated industries rutgers university - graduate school of management 180 university avenue , room 200 p newark , nj 07102 - 1897 phone : 973 - 353 - 5761 ; fax : 973 - 353 - 1348 http : / / www . rci . rutgers . edu / ~ crri crri @ andromeda . rutgers . edu ? - - - - - original message - - - - - from : michael a . crew [ mailto : mcrew @ andromeda . rutgers . edu ] sent : wednesday , march 21 , 2001 11 : 08 am to : shirley . crenshaw @ enron . com cc : vkamins @ enron . com ; crri @ andromeda . rutgers . edu ; kleindorfer @ wharton . upenn . edu subject : dinner speaker - may 23 shirley , this is to follow up today ' s conversation with anita . as mentioned paul kleindorfer invited vince to be our dinner speaker on thursday , may 24 . on reflection given the strong line up for wednesday - fred kahn et al - we would very much like vince to be the speaker on wednesday . this will conclude the day very well giving participants a strong incentive to be there for the wednesday . i gather that this change should be acceptable to vince . we will show vince ' s name as follows : wincety j . kaminski managing director - research enron jeremy will be em ailing you the program with this information immediately . we would like to go to press today . failing that we can go to press tomorrow . we would very much appreciate your confirming this and making any corrections or changes . if you would respond to all of us it would be appreciated . michael michael a . crew professor ii director - center for research in regulated industries editor - journal of regulatory economics rutgers university , graduate school of management 180 university avenue newark , n . j . 07102 - 1897 phone : 973 353 5049 fax : 973 353 1348 http : / / www - rci . rutgers . edu / ~ crri - ecol . pdf | 0 |
Subject: re : pre - meeting weathereffects site cruise vince , you ' re right . it is wednesday ! see you then . ed - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : thursday , july 06 , 2000 12 : 14 pm to : ekrapels @ esaibos . com cc : vince j kaminski ; mike a roberts subject : re : pre - meeting weathereffects site cruise ed , this is a terrific site . i look forward to another presentation . one question . you mentioned tuesday in our phone conversation . i have the presentation scheduled for wednesday next week . please , double check the time and date . vince " edward krapels " on 06 / 30 / 2000 03 : 15 : 43 pm please respond to to : " ' vince j kaminski ' " cc : " jeffrey shorter \ ( e - mail \ ) " subject : re : pre - meeting weathereffects site cruise sold ! i ' ll initiate the call . - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : friday , june 30 , 2000 3 : 44 pm to : ekrapels @ esaibos . com cc : vince j kaminski subject : re : pre - meeting weathereffects site cruise ed , thursday works for me . what about 10 : 30 my time ? vince " edward krapels " on 06 / 30 / 2000 02 : 43 : 00 pm please respond to to : " ' vince j kaminski ' " cc : subject : re : pre - meeting weathereffects site cruise how about thursday , july 6 ? - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : friday , june 30 , 2000 3 : 29 pm to : ekrapels @ esaibos . com cc : vince j kaminski subject : re : pre - meeting weathereffects site cruise ed , a correction . i shall spend an entire day at prc ( performance review ) on friday , july 7 . can we do on another day vince " edward krapels " on 06 / 30 / 2000 12 : 40 : 59 pm please respond to to : " ' vince j kaminski ' " cc : subject : re : pre - meeting weathereffects site cruise i ' ll still be here in boston so we ' d do it over the phone . ok ? - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : friday , june 30 , 2000 12 : 11 pm to : ekrapels @ esaibos . com cc : vince j kaminski subject : re : pre - meeting weathereffects site cruise ed , will you be in houston on that day or we shall do it over the phone ? vince " edward krapels " on 06 / 30 / 2000 09 : 13 : 04 am please respond to to : " ' vince j kaminski ' " cc : " jeffrey shorter \ ( e - mail \ ) " subject : pre - meeting weathereffects site cruise vince , how about a pre - meeting web site cruise on friday , july 7 at 11 am edt ? ed - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : friday , june 30 , 2000 9 : 52 am to : ekrapels @ esaibos . com cc : vince j kaminski subject : re : next visit to houston ed , july 12 , 2 : 30 it is . i would like the pre - meeting site cruise . how can we arrange it ? vince " edward krapels " on 06 / 30 / 2000 04 : 00 : 53 am please respond to to : " ' vince j kaminski ' " cc : " jeffrey shorter \ ( e - mail \ ) " subject : re : next visit to houston vince , we ' re all set for 2 : 30 on july 12 . how about a pre - meeting web site cruise on friday , july 7 at 11 am edt ? ed - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : thursday , june 29 , 2000 5 : 04 pm to : ekrapels @ esaibos . com cc : vince j kaminski ; shirley crenshaw subject : re : next visit to houston ed , wednesday , july 12 , 2 : 300 will work for me . i shall be glad to review your website - - www . weathereffects . com . i shall invite some people who work on electricity in my group to join me . vince " edward krapels " on 06 / 29 / 2000 03 : 53 : 40 pm please respond to to : " ' vince j kaminski ' " cc : " jeffrey shorter \ ( e - mail \ ) " subject : re : next visit to houston vince , good to hear from you and i ' m glad you ' re available . how is wednesday at 2 : 30 ? i did look at eol and am not surprised to see its quality . i was unable to say much about it in my risk electricity hedging and trading report because of deadline pressures . how is the site doing ? i am intrigued by the competition for trading platforms and was astonished to hear that goldman , morgan , bp and shell were going to launch a site to compete with yours . talk about a shotgun marriage ! if we have time next week , i could step you through our website - - www . weathereffects . com . i ' m very proud of what we ' ve done . i can ' t give out a password yet but would be happy to walk through the site with you over the phone using my password . it ' s a very ambitious site - - with state - of - the - art wsi weather ( seasonal , 6 - 10 , and day to day ) driving a good load model for pjm and nepool . esai contributes oil and gas input price forecasts , capacity judgments , and " herding " ideas to develop power price forecasts for same time periods . after one month ' s full - bore effort , i ' m pleased with the results ( e . g . , we forecast nepool onpeak to be $ 43 and it turned out $ 46 ) . have a great weekend . ed - - - - - original message - - - - - from : vince j kaminski [ mailto : vince . j . kaminski @ enron . com ] sent : wednesday , june 28 , 2000 5 : 29 pm to : ekrapels @ esaibos . com cc : vince j kaminski ; shirley crenshaw subject : re : next visit to houston ed , i shall be available on both days . what about wednesday , july 12 , between 1 : 30 and 4 : 00 . please , let me know what time would work for you . it will be nice to see you again . vince p . s . by the way , did you have a chance to take a look at the eol ? " edward krapels " on 06 / 28 / 2000 02 : 49 : 41 pm please respond to ekrapels @ esaibos . com to : vince j kaminski / hou / ect @ ect cc : subject : next visit to houston dear vince , i will be returning to houston during the week of july 10 . esai and weather services international have launched - - after more than 18 months of r & d - - our service , called energycast power trader and energycast gas trader , for power traders in nepool and pjm . i would be happy to review the service with you as well as take you on a tour of our web site . are you available on july 12 - 13 ? sincerely , ed krapels | 0 |
Subject: re : monday presentation corrected i made a few changes to make ebs projects slide more uniform and fixed spelling of one name for ena projects slide . - - stinson | 0 |
Subject: re : henwood query good talking with you this morning . by all means , talk to grant masson about who else is using the henwood model within enron . attached are the workbooks i mentioned . the " details of jan and july . xls " workbook contains the resulting listing from the query i gave you yesterday and you can see how the supply curve was created from that . the supply curve becomes nonsense at points for reasons i believe are related to reliability commitment constrants , instead of pure economic dispatch , and to the aggregate reporting problem i described in my note yesterday . the workbook " supply curve . xls " has the simplistic , average supply curve i mentioned , constructed from fuel and vom costs . depending on the question you are trying to answer , it may be an approach to consider . the henwood contacts i had in mind are : tao guo , phd , senior " algorithmist " ( 916 - 569 - 0985 ) the one i was thinking of wenxiong huang , phd senior project consultant ( 916 - 569 - 0985 ) ajit kulkarni , phd , software product manager ( 916 - 569 - 0985 ) more a trainer , but sharp cosimo coscia , senior consultant ( south australia ) 618 - 8357 - 1244 very resourceful wade schauer , staff consultant , ( 916 - 569 - 0985 ) best for questions about emss per se all have emails , of course . template : tguo @ hesinet . com also , if you can not get satisfaction , contact eric toolson , vp ( 916 - 569 - 0985 ) . he has a laconic style , but is very focused on customer satisfaction and retention . and he has the pull to make things happen . regards , michael > > > karolina potter / lon / ect @ enron 08 / 24 / 00 07 : 08 am > > > michael , i am an analyst in paul mead ' s continental power trading group in london . i am currently working on the project , which requires the use of emss , and experience some difficulties interpreting the output results . steven leppard from our research group gave me your name as an expert in this system and consequently the person to contact in case of problems . i have been running simulations for the dutch market and was asked to provide the traders with some front - end screen graphs in order to interpret the numerical results . one of the graphs is to show an hourly generation stack and system ' s marginal cost , as we only run cost based scenarios . to sort each station ' s hourly generation i need its marginal cost . to my knowledge though , marginal cost is only generated for a systems marginal unit ( transarea marginal units query , marg _ cost unit ) . therefore i was sorting the stations according to the cost which i calculated based on the outputs from station detail by hour query . the calculation was as follows : for each hour , for each generating station : " marginal cost " [ o / mwh ] = ( generation _ cost [ oo 00 ] * 1000 ) / generation [ mwh ] - vom _ cost [ o / mwh ] this i thought would include fuel cost and start up costs . however , a marginal station which i get on the stack as a result of the above calculation is not a station given in marginal station field in transarea marginal units query . i have also looked into transarea _ data _ hr table and transarea _ data table but non of the costs there match my results . do you happen to know what formula is used to determine marg _ cost and which outputs i should be using to obtain the right results ? it might be easier if we could discuss this issue on the phone . in this case could you please send me your direct telephone number . i am struggling understanding what is going on and would appreciate your help very much . regards karolina - text . htm - details of jan and july . xls - supply curve . xls | 0 |
Subject: re : fea announces the release of @ energy 2 . 0 thanks a lot , chris . yes , we only have one shared network license . zimin from : chris jeska / enron @ enronxgate on 02 / 15 / 2001 04 : 34 pm to : zimin lu / hou / ect @ ect cc : subject : re : fea announces the release of @ energy 2 . 0 zmin , i spoke with the provider of this software . am i to understand that there is only one concurrent user server licence for this software ? i am almost completed and would like to test this out . let me know , thanks . chris 57004 - - - - - original message - - - - - from : lu , zimin sent : tuesday , february 06 , 2001 10 : 27 am to : jeska , chris subject : fea announces the release of @ energy 2 . 0 here we go again . zimin - - - - - - - - - - - - - - - - - - - - - - forwarded by zimin lu / hou / ect on 02 / 06 / 2001 10 : 25 am - - - - - - - - - - - - - - - - - - - - - - - - - - - zimin lu 02 / 06 / 2001 08 : 51 am to : chris jeska / na / enron cc : subject : fea announces the release of @ energy 2 . 0 - - - - - - - - - - - - - - - - - - - - - - forwarded by zimin lu / hou / ect on 02 / 06 / 2001 08 : 49 am - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 01 / 31 / 2001 11 : 20 am to : zimin lu / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , stinson gibner / hou / ect @ ect subject : fea announces the release of @ energy 2 . 0 zimin , please , take a look at it . i think we should download the update . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 31 / 2001 11 : 21 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " michelle mendoza " on 01 / 26 / 2001 02 : 33 : 14 pm to : cc : subject : fea announces the release of @ energy 2 . 0 january 26 , 2001 vince kaminski enron north america corp . 1400 smith street 30 th floor , rm . 3036 b houston , tx 77251 - 1188 1 713 - 853 - 3848 dear vince kaminski , this is to inform you of the release of @ energy 2 . 0 . ftp download instructions are available immediately . the download instructions are included at the end of this email . your cd ' s and manuals will be shipped to you within 2 weeks . please see below for more information regarding this new release . please confirm that you are the correct recipient for this shipment and your address above is correct by clicking reply and send . if any changes need to be made , please make the changes above and reply . * * warning : please note that if you did not received a license key for @ energy after june 2000 , you will need to contact support @ fea . com or call 510 . 548 . 6200 to obtain a new license key to enable the new version . * * * * swing users : @ energy / swing now replaces the " swing " product . see the @ energy user manual for a discussion of the changes . contact fea for the necessary license keys . you will be able to run both the new and old swing simultaneously . heres an overview of the new and changed features since version 1 . 6 : @ energy ( forward curve ) jump parameters are now calibrated for use in other @ energy functions . inputs and outputs to powercalib and comcalib have changed . see the corresponding function syntax in the user guide for additional information . 35 - 40 % speed improvement . the module is now out of beta . @ energy ( basics ) different interpolation schemes on forward prices are now supported . if you use indexswap , exoticswap , or optindexswap with floating price linked to a series of futures dates , such futures dates need not be close to dates specified in the forward curve input . a new utility function , pathutil , allows you to simulate and visualize price paths consistent with the models supported by @ energy . 25 - 30 % speed improvement . @ energy ( advanced ) different interpolation schemes on forward prices are now supported . if you use optdiffswap or diffswap with floating price linked to a series of futures dates , such futures dates need not be close to dates specified in the forward curve input . calspreadopt now allows for the specification of two different mean reversion rates . 30 - 35 % speed improvement . @ energy ( swing ) swingopt and stripswingopt now allow for valuation of swing straddle contracts with overall load constraints . 65 - 70 % speed improvement . the module is now out of beta . @ energy ( weather ) 30 - 35 % speed improvement . if you have any questions please feel free to contact us . we appreciate this opportunity to be of continuing service to enron north america corp . . regards , michelle mendoza support @ fea . com + 1 - 510 - 548 - 6200 financial engineering associates , inc . ( fea ) * * * * * * * * * * * * * * * * * * * * * * * * * * * * * to download @ energy 2 . 0 via ftp , follow the following instructions : note : using explorer leads to unpredictable results , so we suggest using netscape or a dos shell . using netscape : in the location box type : ftp : / / energy @ ftp . fea . com password : 2 rbzxgv 5 energy - 2 . 0 - win 32 . exe is for windows 95 / 98 / 2000 / nt . download and run on a local drive . using a dos shell : at a dos prompt type : ftp ftp . fea . com user : energy password : 2 rbzxgv 5 type " binary " and hit ' return ' . type " ls " for a list of available files . type " get " energy - 2 . 0 - win 32 . exe and and wait for the ftp > prompt . type " quit " . the file will be downloaded into the directory at which you entered the ftp site . double click on the exe and follow the instructions on the screen . | 0 |
Subject: re : check vince , ? please find attached an invoice that was sent to habiba back in september . ? thanks , julie - - - - - original message - - - - - from : vince . j . kaminski @ enron . com to : julie @ lacima . co . uk cc : vince . j . kaminski @ enron . com sent : wednesday , november 01 , 2000 2 : 43 pm subject : re : check julie , yes , ? this is how we split this expense internally . please , send it to me . vince " julie " on 10 / 31 / 2000 01 : 57 : 55 am to : ? ? cc : subject : ? re : check vince , oh . i sent an invoice to habiba for aus 5 k a while back , and she ? informed me that she passed it along to the people who are handling the ? agreement now ( i take that as fiona grant in london ? ) . i will then send ? out another invoice of aus 5 k in the next week or so for the remaining ? balance . should i have sent the invoice to you ? thanks , julie - - - - - original message - - - - - from : ? vince . j . kaminski @ enron . com to : julie @ lacima . co . uk cc : vince . j . kaminski @ enron . com sent : monday , october 30 , 2000 9 : 12 ? pm subject : re : check julie , a clarification . we had an agreement with ? chris and les to contribute aus 10 , 000 as a part of the ? cost . vince " julie " on 10 / 30 / 2000 ? 12 : 32 : 14 pm to : cc : subject : ? re : check vince , thank you for your email . we ? will send you a copy of the book as soon as it is available , which we are ? now estimating to be around 21 november ( no need to send us a cheque ; you ? deserve it ) . just let us know if we should use a different address than ? your office in houston . thanks again for all of your ? help . julie - - - - - original message - - - - - from : vince . j . kaminski @ enron . com to : ? julie @ lacima . co . uk cc : vince . j . kaminski @ enron . com sent : ? monday , october 30 , 2000 2 : 16 pm subject : ? check julie , this message was returned to me a few times ? when i sent it from my ? home address . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by ? vince j kaminski / hou / ect on 10 / 30 / 2000 08 : 00 am ? - - - - - - - - - - - - - - - - - - - - - - - - - - - vkaminski @ aol . com on 10 / 28 / 2000 ? 12 : 12 : 57 pm to : julie @ lacima . co . uk cc : vkaminski @ aol . com , vkamins @ enron . com subject : ? check julie , as the book is about to be released to ? the market , i would like to start the process to issue the check ? to lacima . who will be the payee ( lacima ) and what is the ? address ? vince - enron 202 _ 18 _ 09 _ 00 . doc | 0 |
Subject: calculating bid - ask prices this is about enron movie trading business where we are a market maker for trading future of a movie ' s gross box office receipt . rich sent to many people a writing explaining his movie trading idea and asked us to provide some feedback . i think the idea ( see below ) might be applicable to other parts of enron . we can call it " dynamic bid - ask price process " . in fact , we can set that the bidding period is closed when no new bid is submitted to the system within a specified amount of time . the final ( clearing ) bid and ask prices are just the last " tentative " price shown to the public before the bidding period ends . ( so the customers can see the final price before the market close and can revise their bids if they wish . ) i think this method is suitable for illiquid products to be traded via enrononline . com . - chonawee - - - - - - - - - - - - - - - - - - - - - - forwarded by chonawee supatgiat / corp / enron on 04 / 24 / 2001 07 : 48 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - chonawee supatgiat 04 / 24 / 2001 07 : 40 pm to : richard dimichele / enron communications @ enron communications cc : chonawee supatgiat / corp / enron @ enron , cynthia harkness / enron communications @ enron communications , greg wolfe / hou / ect @ ect , james ginty / enron communications @ enron communications , jim fallon / enron communications @ enron communications , kelly kimberly / enron communications @ enron communications , kevin howard / enron communications @ enron communications , key kasravi / enron communications @ enron communications , kristin albrecht / enron communications @ enron communications , kristina mordaunt / enron communications @ enron communications , martin lin / contractor / enron communications @ enron communications , paul racicot / enron communications @ enron communications , zachary mccarroll / enron communications @ enron communications , martin lin / contractor / enron communications @ enron communications subject : calculating bid - ask prices i think we should let the price float with the market instead of trying to forecast it . otherwise , if our forecast is not consistence with the market , we may have an imbalance in the bid - ask orders and we may end up taking some positions . you know , as russ and martin pointed out , we cannot fight with the studio and exhibitors because they have inside information and can game the price easily . one way to ensure the balance of the bid - ask orders is to embed an exchange system inside our bid - ask prices front end . each week , we have a trading period . during the period , instead of posting bid - ask prices , we post " tentative " bid - ask prices , then we ask our customers to submit their acceptable buying or selling price . these " tentative " bid - ask prices get updated and are shown to the public . of course , customers can revise / withdraw their bids anytime during the trading period . at the end of the period , we calculate and post the final bid and ask prices . the seller who submits lower selling price than our final bid price gets paid at the bid price . the buyer who submits higher buying price than our final ask price pays at the ask price . next week , we repeat the same process . this way , we can manage our positions easily and we can also behave like a broker where we don ' t take any position at all . we make profit from those bid - ask spread . we don ' t have to worry about forecasting accuracy and insiders ' trading because we don ' t have to take any position . let the market be the one who decides the price . if we maintain our net position as zero , at the end , when all the actual gross box office numbers are reported in those publications , our customers with open long / short positions are perfectly matched . using the mark - to - market charge can reduce credit risk . thanks , - chonawee - - - - - - - - - - - - - - - - - - - - - - forwarded by chonawee supatgiat / corp / enron on 04 / 24 / 2001 07 : 24 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - chonawee supatgiat 04 / 20 / 2001 04 : 31 pm to : richard dimichele / enron communications @ enron communications , key kasravi / enron communications @ enron communications cc : martin lin / contractor / enron communications @ enron communications subject : some more input hi rich and key , again i think your idea is very good . i think that we , as a market maker , can reduce our credit risk ( risk of default ) if we do the " mark - to - market " charging . that is , each week when we release a new expected value of the gross box office receipt , we balance all the opening positions the same way as in a regular future market . this way , we can give margin calls to the couterparties who are expected to owe us a lots of money . in the last paragraph , i think the gross box office can also be determined from the market itself ( i . e . , if there are lots of buyers , our offer price should go up . ) we can offer other derivative products such as options as well . - chonawee | 0 |
Subject: re : alpbacher finanzsymposium 2000 - invitation for a speech on " weatherderivatives " dear mr . enthofer , i regret to decline your kind invitation to speak at the alpbacher finanzsymposium . i have another engagement in the beginning of october in paris . vince kaminski finance trainer on 05 / 30 / 2000 08 : 02 : 42 am to : " ' vkamins @ enron . com ' " cc : subject : alpbacher finanzsymposium 2000 - invitation for a speech on " weatherderivatives " dear mr . kaminski ! we are the organizer of the alpbacher finanzsymposium which is a top event for austrian corporate and banking executives every year and takes place in the mountains of tirol from 4 th to 6 th of october 2000 . it hosts approximately 500 participants . this year ` s topic is " balance sheet protection " . we kindly ask you , if you are interested in presenting " your latest research into the application of weather risk management techniques " at the symposium . date and location : friday , october 6 th 2000 , 9 . 30 a . m . alpbach - tirol , congress centrum . we would highly appreciate to welcome you in alpbach in october - please give us notice as soon as possible . we will come back to you with organizational details . yours sincerely hannes enthofer hannes enthofer finance trainer international gmbh am hundsturm 11 a - 1050 wien tel : + 431 5455277 - 0 fax : + 431 5455277 - 20 e - mail : enthofer @ financetrainer . com web : www . financetrainer . com | 0 |
Subject: visiting enron may 4 th vince ( and shirley and melinda ) , thanks so much for including me in this meeting with stanford engineering - - - unfortunately , i ' m committed to participate in the enron law conference in san antonio that entire day . thanks ! - - christie . - - - - - - - - - - - - - - - - - - - - - - forwarded by christie patrick / hou / ect on 04 / 09 / 2001 03 : 16 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - shirley crenshaw 04 / 09 / 2001 01 : 21 pm to : christie patrick / hou / ect @ ect cc : melinda mccarty / corp / enron @ enron subject : visiting enron may 4 th christie / melinda : can christie meet with susan and vince on friday , may 4 th from 1 : 30 - 3 : 00 ? please let me know . thanks ! shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 04 / 09 / 2001 01 : 15 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 04 / 09 / 2001 01 : 18 pm to : shirley crenshaw / hou / ect @ ect cc : subject : visiting enron may 4 th shirley , fyi vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 04 / 09 / 2001 01 : 19 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - " susan c . hansen " on 04 / 06 / 2001 06 : 14 : 10 pm to : vince . j . kaminski @ enron . com cc : clovell @ stanford . edu , donna lawrence , hillh @ stanford . edu , bambos @ stanford . edu subject : visiting enron may 4 th dear vince , this is great news ! donna and i are delighted that you have time to see us on may 4 th . i ' ll be out of the office next week . by copy of this email to my assistant , carol lovell , i will ask her to get in touch with shirley for scheduling as well as directions on where to meet you . we ' ll be glad to meet with christie patrick as well . looking forward to meeting you , susan at 05 : 36 pm 4 / 6 / 01 - 0500 , you wrote : > susan , > > thank you for your message . i shall be glad to meet with you on may the > 4 th . > i shall ask my assistant , shirley crenshaw ( 713 ) 853 5290 , to call you to > set up the meeting . > > also , for your information , we have recently set up a special unit to > coordinate enron ' s > relationships with the universities . the person running this unit is > christie patrick . > please , feel free to contact her and give my name as a reference . i shall > coordinate the meeting > on may the 4 th with her . > > vince > > > additional information re christie : > > phone : ( 713 ) 853 - 6117 > > email : christie _ patrick @ enron . com > > > > > > " susan c . hansen " on 04 / 03 / 2001 04 : 33 : 54 pm > > to : vkamins @ enron . com > cc : > subject : visit from stanford ? > > > dear dr . kaminski , > > let me briefly introduce myself , i am the director of corporate relations > for the school of engineering at stanford university . in this role , i am > always on the watch for ways to bring our faculty together with companies > that have an appetite for engagement with top tier research institutions . > > i believe you know hill huntington , who is a senior researcher with > stanford ' s energy modeling forum . he suggested i get in touch with you for > some ideas about contacts at enron . i ' m in the process of planning a trip > to texas in early may along with my colleague donna lawrence , the > university ' s director of corporate relations . we were hoping to be able to > include a stop at enron on our itinerary . right now it appears that friday , > may 4 th would work best for us but we ' re at the very beginning of our trip > planning . > > the purpose of our visit would be to review the current relationship > between enron and stanford , to give you an overview of current priorities > in the school of engineering , and ask for your help in identifying the best > points of contact . > > i look forward to hearing from you about your availability , > > sincerely , > susan hansen > > > > > susan c . hansen > director , corporate relations > school of engineering > stanford university > stanford , ca 94305 - 4027 > ( 650 ) 725 - 4219 susan c . hansen director , corporate relations school of engineering stanford university stanford , ca 94305 - 4027 ( 650 ) 725 - 4219 | 0 |
Subject: re : martin lin stinson , thank you for following up promptly with support on martin lin . i spoke with vince regarding a conversation i had with compenstation yesterday . compensation has recently comleted an analysis for vince ' s group and determined that the appropriate salary for managers in research should be 90 , 000 . the following will be his pay structure : effective august 1 , 2000 job title manager base salary $ 90 , 000 retention bonus $ 10 , 000 ( ending 8 / 1 / 2001 ) please provide a job title that you would feel appropriate for this positon . if you would like to discuss please let me know . norma x 31545 stinson gibner 08 / 23 / 2000 08 : 46 am to : norma villarreal / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect subject : martin lin norma , thanks for your excellent suggestion of using a retention bonus for martin lin in order to address both the issues of compensation and retention for him . as i mentioned during our meeting , just my small team within research has lost 3 people over about the last 2 years , and we have had a hard time recruiting good candidates . last year we made an offer to a person graduating from ut ( ms in computational finance ) of 75 k plus 25 k signing bonus . he replied that he would like to work at enron but was already in the position of turning down an offer with a base salary above $ 100 k . martin is a very skilled individual with a ph . d . in electrical engineering and almost two years experience at enron . he would be very difficult ( and expensive ) to replace . for this reason i feel it necessary to be proactive in finding ways of retaining him as an employee . please let me know if we have a green light to go forward with a 1 - year retention bonus of 10 k and a raise to 87 k base salary for mr . lin . i would plan to then give martin an additional raise at his next review period . regards , stinson x 34748 | 0 |
Subject: rice / enron finance seminar series enron seminar series in finance jones graduate school of management , rice university paul schultz university of notre dame will give a seminar at the jones school on friday , march 30 , ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? & who makes markets 8 the seminar will begin at 3 : 30 in room 115 . the paper will be made available shortly . | 0 |
Subject: tage resume submittal i have no need at this time for external people . thanks for thinking of berney and me . regards , ed - - - - - - - - - - - - - - - - - - - - - - forwarded by ed mcmichael / hou / ect on 11 / 25 / 2000 08 : 47 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - from : berney c aucoin 11 / 21 / 2000 01 : 15 pm to : ed mcmichael / hou / ect @ ect cc : subject : tage resume submittal let vince know if you ' re interested in this person . bern - - - - - - - - - - - - - - - - - - - - - - forwarded by berney c aucoin / hou / ect on 11 / 21 / 2000 01 : 13 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - vince j kaminski 11 / 21 / 2000 11 : 43 am to : berney c aucoin / hou / ect @ ect , wanda curry / hou / ees @ ees cc : subject : tage resume submittal please , take a look at the lst resume and let me know what you think ( shelly wood ) . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 11 / 21 / 2000 11 : 50 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " pj " on 11 / 15 / 2000 01 : 58 : 46 pm to : " vince j kaminski " cc : subject : tage resume submittal vince , two candidates for your review . please call me . ? paul johnson , cpc president ( 281 ) 497 - 8595 ? please visit our website ? www . austingrp . com - wood , shelly . doc - jpbresume 2 . doc | 0 |
Subject: computerworld article fyi : several errors like ' brokering ' in the report but given the fact that the guy had no clue what enron does or companies like it do , this came out okay . in all of the pr group ' s marketing effort , enron as a market - maker is the message . ravi . - - - - - forwarded by ravi thuraisingham / enron communications on 02 / 05 / 01 10 : 54 am - - - - - shelly mansfield 02 / 05 / 01 10 : 49 am to : ravi thuraisingham / enron communications @ enron communications cc : subject : computerworld article shelly mansfield enron broadband services 713 - 853 - 4589 office 713 - 646 - 8887 fax 877 - 929 - 7889 pager 713 - 303 - 4720 cellular - - - - - forwarded by shelly mansfield / enron communications on 02 / 05 / 01 10 : 51 am - - - - - norman levine 02 / 05 / 01 10 : 08 am to : shelly mansfield / enron communications @ enron communications cc : subject : computerworld article following is the computerworld article : link : enron seeks to broker storage deals between users , ssps by lucas mearian while technology service providers have long been talking about data storage as a utility that should be sold in the open marketplace like electricity or natural gas , little has been done to pool market resources in order to hawk surplus disk - array capacity . but that ' s exactly what a subsidiary of houston - based energy and communications conglomerate enron corp . is doing by launching a business - to - business exchange that it said will seek to match spare capacity owned by storage service providers ( ssp ) with corporate users who want to be able to quickly scale up and down the amounts of storage they have available . enron broadband services this week announced that it has already signed a deal with waltham , mass . - based storagenetworks inc . and is negotiating similar agreements with at least six other ssps . if successful , analysts said , enron ' s business proposition could go far toward generating a set of operating standards for the emerging ssp business . " it ' s a market with mix of small and large players and companies that define their roles differently , " said ken weilerstein , an analyst at gartner group inc . in stamford , conn . enron ' s plan also could help enterprise - level users get additional benefits along with the storage capacity they ' re renting , such as security and disaster recovery support , he added . ravi thuraisingham , director of global bandwidth risk management at enron broadband services , said the new offering won ' t include additional security features . but enron does plan to standardize on a set of ssp services and bundle them with disaster recovery and communications bandwidth capabilities , he said . initially , enron - - which had total revenue of $ 101 billion last year - - expects to charge users monthly fees of $ 25 to $ 55 per gigabyte of managed storage , depending on market conditions and the length of time a company expects to need the capacity . " we ' re there to try to discover a market clearing price , " said thuraisingham , adding that the service is tentatively due to go online in the third quarter . enron said it has already signed best buy co . , one of the leading retailers of consumer electronics , computers and software in the u . s . , to buy the storage capacity it needs to support a customer relationship management application through storagenetworks . connecting users such as best buy to available storage could take anywhere from three days to three months , according to thuraisingham . under enron ' s plan , storage capacity owned by participating ssps will be connected to an existing network of switching hubs through which the company currently trades telecommunications bandwidth . enron said it has 18 switching centers , or " pooling points , " in the u . s . , and another seven overseas . at first , the company plans to focus its attention on ssps in boston and other metropitan areas where the necessary networking plumbing can be easily installed . but even there , thuraisingham said , enron is " pretty much in the initial stages of getting ssps up to speed on what the market is about . " enron has been managing online trades of telecommunications bandwidth since the spring of 1999 . later that year , it also launched a web site called enrononline that oversees the trading of natural gas , electricity and other commodities . that quickly became the world ' s largest e - commerce site and is now said to be processing more than $ 1 billion worth of transactions daily . norman levine enron broadband services 713 - 853 - 5010 norman _ levine @ enron . net | 0 |
Subject: contact details dear mr . kaminski it was good talking to you and i would like to thank you for your interest in riskcare and willow . as discussed , i will contact you feb 1 to arrange a meeting . in the meantime please don ' t hesitate to contact me if you have any further questions . regards manuel manuel rensink riskcare limited piercy house 7 copthall avenue london ec 2 r 7 nj tel : + 44 ( 0 ) 207 562 3414 email : mrensink @ riskcare . com http : / / www . riskcare . com | 0 |
Subject: @ ect . enron . com email notification ! we are one @ enron . com ! please be aware of the following senders were automatically notified to ( a ) . stop sending internet mail to your @ ect . enron . com address and to ( b ) . send future internet communications to vince . j . kaminski @ enron . com : jim . dyer @ bus . utexas . edu , john @ sava . com reminder : your @ ect . enron . com address should not be used any longer and will be deactivated soon . so please make sure these contacts switch to your new @ enron . com address . if you have subscribed to mailing lists , please make sure to update your addresses there as well . and your shortname @ enron . com address ( i . e . jsmith @ enron . com ) will continue to work , even though your formal address is longname @ enron . com ( i . e . john . smith @ enron . com ) please do not reply to this message as it was automatically generated . | 0 |
Subject: new frbny research : 5 / 3 now available at the new york fed ' s research site : " stocks in the household portfolio : a look back at the 1990 s , " by tracy and schneider ( current issues 7 , no . 4 ) " currency orders and exchange - rate dynamics : explaining the success of technical analysis , " by osler ( staff report 125 ) " recent changes in the u . s . business cycle , " by chauvet and potter ( staff report 126 ) u . s . and global economies charts , updated every wednesday in addition , the foreign exchange committee ' s 2000 annual report is now available research home page http : / / www . newyorkfed . org / rmaghome feel free to forward these messages . to unsubscribe , contact listserv @ peach . ease . lsoft . com . in the e - mail , type : signoff frbnyrmagl . for more details : http : / / www . newyorkfed . org / rmaghome / subscribe / subscribe . html . ? this notification service is provided to you free of charge . by subscribing to the service and providing your e - mail address , you agree to waive any claim against the federal reserve bank of new york for any messages that you may receive by reason of your subscription to this service and / or any resultant harm to you and / or your computer from receipt of such messages . ? the federal reserve bank of new york assumes no responsibility for any inaccuracies in any messages you may receive as a result of your subscription to this service . | 0 |
Subject: request submitted : access request for maureen . raymond @ enron . com vince : maureen needed this access for her new lap top so she can take it with her on vacation . there was no one here to approve it , so i approved it for you . hope that was ok . have a great time ! shirley - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 11 / 15 / 2000 01 : 51 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - arsystem @ mailman . enron . com on 11 / 15 / 2000 01 : 18 : 27 pm to : shirley . crenshaw @ enron . com cc : subject : request submitted : access request for maureen . raymond @ enron . com you have received this email because the requester specified you as their vp . please click approval to review and act upon this request . request id : 000000000007498 request create date : 11 / 15 / 00 1 : 14 : 32 pm requested for : maureen . raymond @ enron . com resource name : vpn resource type : applications | 0 |
Subject: ena analyst and associate " brownbag " presentations it is the intent of the office of the chairman to maintain a high quality flow of analysts and associates rotating through enron north america as well as provide them with up to date information on all the potential rotations in ena . additionally , we would like to provide the ena aa ' s a forum for your respective groups to promote your business unit as a viable alternative in the rotation process . i need your assistance for this endeavor and want your respective business unit to participate in the process by delivering an informal presentation to the aa group which should include the following : your business unit ' s current activities , purpose and interfaces with other departments recent successes and current projects ideas on the horizon opportunities in your business unit for aa ' s the benifits of rotation in your business unit an open q & a session these presentations should be informal and it is not necessary to have handouts . the goal is to provide an open forum for the aa ' s and to have them ask questions about each business unit . also , bringing one of your current aa ' s with you to provide their insight might help stimulate discussion . ted bland will be contacting you to schedule your business unit for a presentation . the first " brownbag " will take place september 8 between 12 : 00 pm and 1 : 00 pm in room 30 cl . dave | 0 |
Subject: electricity prices vince , please find attached electricity prices file , let me know if you need any additional information . sincerely , elena | 0 |
Subject: latest update on bp margin collar deal - - - - - - - - - - - - - - - - - - - - - - forwarded by zimin lu / hou / ect on 11 / 10 / 2000 11 : 56 am - - - - - - - - - - - - - - - - - - - - - - - - - - - from : lee jackson 11 / 10 / 2000 10 : 40 am to : bob lee / na / enron @ enron , zimin lu / hou / ect @ ect cc : douglas s friedman / hou / ect @ ect subject : margin collar i wanted to give you the status on the bp margin collar deal . we submitted a bid to bp yesterday where bp would pay enron just under $ 5 mm to assume the contract . we have yet to have further discussions , so there ' s not much more to report than that . we greatly appreciate your help on this project . i feel like we put together a very good bid , and measured the risks appropriately with limited time . i will keep you informed of how the negotiations proceed . thanks again , lee jackson | 0 |
Subject: update on ut - enron activities : my conversation with rick causey vince , good morning . as you may know , last thur . enron honored this year ' s recipients of the enron mba excellence fund scholars at a dinner in austin . in addition to the three recipients , business school dean may and several of my colleagues , enron attendees included sally beck , cindy justice , karen marshall ( newly - appointed coordinator of higher education initiatives for enron community relations dept . ) and rick causey . i write you at this time to advise you i had occasion to discuss two current enron / ut issues with rick : i . spring 2001 conference participation by jeffrey k . skilling ii . ut participation in enrontraining activities per my conversation with rick last thur . , i followed up on that discussion with an e - mail this morn that touched on those two topics . i . with respect to the first , i wrote rick this morning that : 1 . we at the ut center for energy finance education and research ( cefer ) are planning a practitioner - industry conference in spring 2001 ( late feb . or early march ) to discuss four topics : risk management , deregulation , real options , and international / globalization . 2 . the conference will kick off with a dinner / keynote address thur . evening , then continue all day fri . 3 . i have had several discussions with you regarding conference timing , structure , participation and content . 4 . further to rick ' s agreement to do so during our discussion last thur . , in today ' s e - mail i asked rick to extend an invitation to jeff skilling to be the keynote speaker at the thur . evening dinner . ii . with respect to the second topic , rick and i also discussed ut partcipation in enron corp . internal training for incoming enron corp . analysts and associates . consequently , i e - mailed rick this morning a specific set of issues - - " valuation and risk management in energy markets " - - which my ut colleagues and i have covered in public as well as customized exec ed settings , and which we would be pleased to customize for presentation at enron . fyi , i am enclosing a copy of said topics at the end of this e - mail . i look forward to seeing you again soon , and to your ut visit on 10 / 11 . best , ehud training program : " valuation and risk management in energy markets " target audience : associates , analysts , traders , marketing / sales , risk managers , financial analysts program objectives : 1 . understanding the physical and financial u . s . markets for electricity and natural gas 2 . understanding the structuring , reverse engineering and valuation of exchange - traded and otc energy derivatives , including " exotic " options , structured products , and spread and basis products 3 . promoting a common language between trading and marketing personnel regarding valuation and hedging of structured products 4 . risk - management program contents : i . " electricity 101 " - - problems in pricing - - spot markets - - forward markets - - trading : basis , fixed - price , volatility - - markets : characteristics and participants ii . valuation / structuring / hedging 1 . fundamentals of forwards and futures contracts : - - forward contracts : definition , payoff diagram , pricing by arbitrage - - futures vs . forwards - - commodity futures - - swaps - - constructing forward curves : contrast with price forecast ; using the spark spread ; incorporating regional bases 2 . introduction to option pricing : - - payoffs - - put - call parity - - binomial model - - black - scholes formula - - option " sensitivities " ( the " greeks " ) ; delta and gamma 3 . uniqueness of energy derivatives : - - " term structure " of volatility - - convenience yield / seasonality - - basis 4 . estimating volatility in energy markets : - - estimating volatility in financial markets - - hourly vs . daily vols - - historical or implied vols ? - - characterizing the volatility " surface " across time and strike 5 . design and valuation of structured products in commodity markets : - - valuation of european call options in energy markets - - average options on oil futures contracts - - spread and basis products - - " swing " options in power markets - - weather derivatives 6 . risk - management - - motivation for structured trades - - valuation of real options ( e . g . , valuation of power plant or gas field ) - - value - at - risk ( one - and multi - factor models ) - - repowering option 7 . advanced topics ( for qualified audiences ) - - relationship between forward prices and expected spot prices - - the importance of hedging volatility changes - - consistent method for estimating hourly , daily and monthly term structures of volatility - - practical alternatives to vega - hedging - - applying options theory to the valuation of power plants - - valuation of " swing " options under ruthless and non - ruthless exercise ehud i . ronn professor of finance and jack s . josey professor in energy studies director , center for energy finance education and research mccombs school of business university of texas at austin austin , tx . 78712 - 1179 voice : ( 512 ) 471 - 5853 fax : ( 512 ) 471 - 5073 internet : eronn @ mail . utexas . edu | 0 |
Subject: re : trading ag prods . vince , just wanted to let you know that i have done some preliminary , high level , research into this commodity and would be glad to share it . please let me know if you would be interested in it . thank you . shalesh ganjoo vince j kaminski @ ect 05 / 01 / 01 10 : 20 am to : shalesh ganjoo / enron communications @ enron communications @ enron cc : elsa piekielniak / corp / enron @ enron subject : re : trading ag prods . shalesh , a good idea . i shall forward it to the ag traders . vince from : shalesh ganjoo @ enron communications on 05 / 01 / 2001 10 : 12 am to : nelson neale / na / enron @ enron cc : vince j kaminski / hou / ect @ ect subject : trading ag prods . nelson , i know you are focusing on agricultural products for trading , so i just wanted to know if we are looking at wool . i know that it ' s traded in australia and new zealand , so we might be able to look into it as well . please let me know . thank you . shalesh ganjoo | 0 |
Subject: program donna , i am sending you , as promised , the outline of the project . in case you have a difficulty opening the attachment , i cc my assistant . she will be able to fax it to you on monday . vince - 2001 field application form 2 . doc | 0 |
Subject: fw : fea announces the release of @ energy 2 . 1 . chris , fea just released a new version of @ energy 2 . 1 . could you update it with the new version ? hopefully it will not take you too much time . as always , i value your work and appreciate your help . zimin - - - - - original message - - - - - from : kaminski , vince j sent : tuesday , may 15 , 2001 8 : 37 am to : lu , zimin subject : fw : fea announces the release of @ energy 2 . 1 . - - - - - original message - - - - - from : " erin hopkins " @ enron [ mailto : imceanotes - + 22 erin + 20 hopkins + 22 + 20 + 3 cerin + 40 fea + 2 ecom + 3 e + 40 enron @ enron . com ] sent : monday , may 14 , 2001 5 : 47 pm to : kaminski , vince j subject : fea announces the release of @ energy 2 . 1 . 05 / 14 / 2001 enron north america corp . vince kaminski 1400 smith street 30 th floor , rm . 3036 b houston , tx 77251 - 1188 1 713 - 853 - 3848 dear vince kaminski , this is to inform you of the release of @ energy 2 . 1 . ftp download instructions are available immediately . the download instructions are included at the end of this email . please see below for more information regarding this new release . . fea is pleased to enclose your new version of @ energy / erglib . the accompanying documentation contains installation and other information . here is an overview of the new and changed features since version 2 . 0 . @ energy ( forward curve ) no change . @ energy ( basics ) a control variate methodology hull ( 1997 ) has been implemented for valuation of american options ( opt ) , black and mean - reverting models . it greatly improves accuracy at minimal cost in speed . all models now supports new scalar risk measures corresponding to parallel displacement delta , hedge , and gamma . average price / strike options now support an alternative way of computing theta . the definition of gamma curves has been modified for all models . @ energy ( advanced ) a faster and more accurate methodology is used to value spread options . models affected are spreadopt , stripspreadopt , optspreadopt , optstripspreadopt . the new methodology dramatically improves speed . all models now supports new scalar risk measures corresponding to parallel displacement delta , hedge , and gamma . average price / strike options now support an alternative way of computing theta . the definition of gamma curves has been modified for all models . @ energy ( swing ) the definition of gamma curves has been modified for all models . @ energy ( weather ) no change . see the file fea \ energy \ ergnote . txt in your distribution for a list of bug fixes . here is an overview of the new and changed features since version 1 . 6 . @ energy ( forward curve ) jump parameters are now calibrated for use in other @ energy functions . inputs and outputs to powercalib and comcalib have changed . see the corresponding function syntax in the user guide for additional information . 35 - 40 % speed improvement . the module is now out of beta . @ energy ( basics ) different interpolation schemes on forward prices are now supported . if you use indexswap , exoticswap , or optindexswap with floating price linked to a series of futures dates , such futures dates need not be close to dates specified in the forward curve input . a new utility function , pathutil , allows you to simulate and visualize price paths consistent with the models supported by @ energy . 25 - 30 % speed improvement . @ energy ( advanced ) different interpolation schemes on forward prices are now supported . if you use optdiffswap or diffswap with floating price linked to a series of futures dates , such futures dates need not be close to dates specified in the forward curve input . calspreadopt now allows for the specification of two different mean reversion rates . 30 - 35 % speed improvement . @ energy ( swing ) swingopt and stripswingopt now allow for valuation of swing straddle contracts with overall load constraints . 65 - 70 % speed improvement . the module is now out of beta . @ energy ( weather ) 30 - 35 % speed improvement . see the file fea \ energy \ ergnote . txt in your distribution for a list of bug fixes . if you are a user of the erglib library , please be aware of possible backward compatibility issues in calls to eapo , easo , espreadapo , espreadaso , and ecrackapo . see fea \ energy \ ergnote . txt for additional details . here is an overview of the new and changed features since version 1 . 5 . @ energy ( basics ) european options and strips of european options now support valuation via a jump diffusion model ( see opt and stripopt functions ) . average price options ( see the apo , spreadapo , crackapo functions ) , and average strike options ( see the aso , spreadaso functions ) now allow for a direct input of the fixing dates . @ energy ( advanced ) includes two new functions , optstripopt and optstripspreadopt for valuation of complex compound options . if you are a user of the erglib library , please be aware of backward compatibility issues in calls to eapo , easo , espreadapo , espreadaso , and ecrackapo . see fea \ energy \ ergnote . txt for additional details . here is an overview of the new and changed features since version 1 . 4 . @ energy ( forward curve ) @ energy ( forward curve ) is the new module which includes functions designed to generate forward curves , volatility curves and mean reversion rates used in many other @ energy functions . module in beta release . @ energy ( basics ) apo ' s and aso ' s : bug fixed when avg _ starts prompt . type " quit " . the file will be downloaded into the directory at which you entered the ftp site . double click on the exe and follow the instructions on the screen . there is also a readme file which contains installation instructions . you may wish to print this out for easy reference . n . b . : the password is only valid until the first friday of next month . if you have any questions please feel free to contact us . we appreciate this opportunity to be of continuing service to enron north america corp . . regards , erin hopkins administrative assistant financial engineering associtates , inc . tel : + 1 . 510 . 548 . 6200 mailto : info @ fea . com or mailto : support @ fea . com | 0 |
Subject: re : resume i appreciate your recommendation of van for a summer internship with enron . i have communicated with van and let her know that she will have a place on our interview schedule at rice . i will keep you updated regarding the status of van ' s application . thank you , christy young recruiter enron vince j kaminski 01 / 17 / 2000 07 : 39 am to : christy young / hou / ect @ ect , beth miertschin / hou / ect @ ect cc : vince j kaminski / hou / ect @ ect , mike a roberts / hou / ect @ ect subject : resume christy and beth , van worked with us during the summer and over the winter break . she did an outstanding job . i would like to recommend her for another summer internship and also keep her in mind for the future employment . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 01 / 17 / 2000 07 : 38 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " van t . ngo " on 01 / 16 / 2000 06 : 00 : 57 pm to : vince j kaminski / hou / ect @ ect cc : shirley crenshaw / hou / ect @ ect subject : resume dear vince , please find attached a copy of my resume . i have talked with christy young and beth miertschin , the college recruiters for the a of those , i would be most interested in one of the " finance rotations . " i would be happy to explore one of the number of groups within this area . ( please let me know if this is sufficient or if you will need me to give more specific indication of which department i would like to be considered for an internship . ) i greatly appreciate your consideration regarding my job opportunities with enron . please let me know if there is anything else i can do to facilitate this process . i look forward to our meeting again . sincerely , van ngo p . s . shirley , i have mailed to you my parking permit . please contact me if you had any problems with it . - myresume . doc | 0 |
Subject: tage resume submittal vince , two candidates for your review . please call me . ? paul johnson , cpc president ( 281 ) 497 - 8595 ? please visit our website ? www . austingrp . com - wood , shelly . doc - jpbresume 2 . doc | 0 |
Subject: re : real options conference in cambridge steve given the practitioner audience , i would prefer a less technical presentation . perhaps if you can talk about use of real options at enron in general , and then give some examples ( graphically - - no notation ) of diagrammatic representation might be good . remember there are many talks and the capacity of the audience to absorb notation , grammar , and technical detail is limited . how about a more generic title " real options at enron ? " please give me your title within enron please at 11 : 07 d _ 04 / 25 / 00 + 0100 , steven . leppard @ enron . com wrote : > > > lenos > > i ' d like to give a talk entitled " diagrammatic representation of real > options in enron " , in which i will give a brief run - down of a diagrammatic > technique i have developed for representing real option deals . my notation > allows originators , managers and quants to communicate unambiguously , while > still appreciating the complexity and subtlety of real optionality . i have > defined a " diagrammatic grammar " which guarantees that the pricing of the > deal follows immediately and automatically from the diagram . > > i propose to introduce the symbols and grammar , then go on to present some > suitable examples of diagrams . if appropriate i ' ll talk about the links > with dynamic programming . ( i will need some guidance as to how much > technical detail i can go into based on the audience . ) > > all the best , > steve > > > > > ( embedded enron capital & trade resources corp . > image moved > to file : from : lenos trigeorgis > pic 29415 . pcx ) > 04 / 20 / 2000 08 : 45 pm > > > > > > > to : " steven leppard " > cc : " vince j kaminski " > > subject : re : real options conference in cambridge > > > steve > > thanks for agreeing to talk . i attach the program to see the other speakers > and style ( it is addressed to a professional autience ) > > please give me a suitable title for the talk ( replacing kaminski % s slot on > july 6 / energy session ) and the details of your position > > thanks > > lenos > > at 05 : 01 _ _ 04 / 20 / 00 + 0100 , steven leppard wrote : > > > > > > dear prof trigeorgis > > > > vince kaminski has suggested that i would be a suitable speaker at your > july > > conference in cambridge , and i ' d be happy to come along if required . > please > > could you send me appropriate details , and the audience type expected . > > > > many thanks . > > > > yours sincerely , > > steve leppard > > > > > > > > > ( see attached file : 4 thconfsessions . doc ) > > lenos trigeorgis > professor of finance > university of cyprus > dept of business > 75 kallipoleos , po box 20537 > cy 1678 nicosia cyprus > > tel : + 357 2 892261 > fax : 339063 > > > > attachment converted : " c : \ drive _ e \ eudora \ attach \ pic 29415 . pcx " > > attachment converted : " c : \ drive _ e \ eudora \ attach \ 4 thconfsessionsl 7 . doc " > lenos trigeorgis professor of finance university of cyprus dept of business 75 kallipoleos , po box 20537 cy 1678 nicosia cyprus tel : + 357 2 892261 fax : 339063 | 0 |
Subject: re : template for a proposal mark & todd vince and i have been working along those lines and have narrowed the search to ( 1 ) scripps institution of oceanography , ( 2 ) lamont - daugherty earth observatory , and ( 3 ) cola - center for ocean , land and atmosphere . we have contacted the principles at each of these institutions , made on - site visits to the facilities , and verbaly explored preliminary research program proposals . perhaps we could meet next week to coordinate this effort . - - - mike | 0 |
Subject: rollover of my vacation days to 2001 vince & shirley : here are the details about my remaining 2000 vacation and their use : vacation currently available now : 136 next week 3 days ( dec 27 - 29 ) 24 - - - - - - - - - - - - - - - - - - - - - - - - - - - vacation remaining on 31 - dec : 112 officially rolled over to 2001 : 40 - - - - - - - - - - - - - - - - - - - - - - - - - - - unused 2000 vacation : 72 thanks , krishna . - - - - - - - - - - - - - - - - - - - - - - forwarded by pinnamaneni krishnarao / hou / ect on 12 / 18 / 2000 02 : 41 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - pinnamaneni krishnarao 12 / 11 / 2000 06 : 28 pm to : vince j kaminski / hou / ect @ ect cc : subject : rollover of my vacation days to 2001 vince : i would like to rollover my vacation days for 2000 remaining at the end of this year to 2001 . i could not use us all of my available vacation this year because of the following reasons : 1 . as you know , i have been supporting three business units ( ees , epg & enron india ) this year . all these units had difficult and relatively long projects that required experience in energy markets , derivatives pricing and business knowledge that i had gained over the last few years at enron . 2 . there has been a significant change in the team members reporting to me . i now have six people under me compared to only three at the begin of the year . of the current six members , five joined us only this year and most of them didn ' t have any prior work experience , thus requiring a lot of my time in recruiting , training and mentoring . 3 . given that i had to visit our bombay office in january , 2000 for a business trip ( 10 days ) and will need to go there again in january , 2001 , i could not take leave from my work for the other two units ( ees & epg ) for an extended period of time . so , in summary , this year has been a long and challenging one , and as a result , i could not take vacation for more than a few days . i request you to grant the rollover of my remaining vacation to next year . currently i have 136 hours of vacation available and , of these , i expect to have 112 hours unused at the end of this year . thank you , krishna . | 0 |
Subject: finance club : e - trading and fixed income markets workshop as faculty advisor to the finance club , prof . barb ostdeik is encouraging all members to take advantage of a great opportunity to learn more about trading operations from two very respected individuals in the industry . keith anderson of blackrock , inc ( jgsm 1983 ) and dexter senft of lehman brothers & tradeweb llc ( rice 1974 ) have visited the jones school to give this lecture and students have raved about them . albert wang ' s fixed income and advanced investments classes are required to attend , and james weston recommends for his applied finance students and any first years taking investments next year to be there . when : 9 : 45 a . m . - 11 : 15 a . m . wednesday april 18 where : room 117 herring hall presentation / discussion topics : trading tactics - phone trades vs . electronic trading evolution of e - trading in fixed income markets the future of the trading desk buy - side vs . sell - side issues speaker profiles : keith anderson , managing director and chief investment officer , fixed income of blackrock , inc . , is co - head of the fixed income operating committee , chairman of the investment strategy group and a member of blackrock ' s management committee . mr . anderson is responsible for global fixed income strategy , asset allocation and the overall management of client portfolios . he coordinates a team of thirty - two portfolio managers and more than twenty - five credit and quantitative analysts . mr . anderson is a member of the treasury borrowing advisory committee , which meets quarterly in washington , d . c . with the secretary and staff of the u . s . treasury to advise them on the financing and management of the federal debt . prior to founding blackrock in 1988 , mr . anderson was a vice president in fixed income research at the first boston corporation , working in mortgage securities and derivative products strategies . mr . anderson with criterion investment management company where he had primary responsibility for a $ 2 . 8 billion fixed income portfolio . mr . anderson has authored numerous articles on fixed income strategies , including two articles in the handbook of fixed income options : " scenario analysis and the use of options in total return portfolio management " and " measuring , interpreting , and applying volatility within the fixed income market " . dexter senft is a managing director with global responsibility for fixed income electronic commerce for lehman brothers . during his eight years at the firm , he has also managed or co - managed lehman ' s fixed income research , quantitative research , counterparty credit and global economics departments . mr . senft is the former chairman of tradeweb llc , a consortium - owned electronic bond trading system whose volume currently averages over $ 10 billion per day , and of which lehman brothers is a founding shareholder . he remains on tradeweb ' s board , and chairs tradeweb ' s trading protocol committee , which oversees the rules that govern the electronic flow of information within the system . mr . senft also serves on the bond market association ' s committee for alternative trading systems , as well as its online bond steering committee and he chairs the subcommittee on e - commerce protocols and standards . prior to ejv , mr . senft spent 17 years at the first boston corporation ( now part of cs first boston ) , where he was a managing director and head of fixed income research and product development . he is a widely published author of articles on mortgage securities , fixed income derivatives , and quantitative portfolio management , and his work continues to be among the readings for cfa applicants . in 1983 , mr . senft led the product team that created the first cmo for freddie mac . this is regarding the e - trading / bond market session arranged for april 18 . as part of the lst year finance elective , you may have already been informed by james weston ( were you ? ) but i need to get the info out to more 2 nd years as well . do you usually send out your speaker announcements to all faculty , students , and staff ? albert wang ' s fixed income and advanced investments classes are required to come and james weston will be encouraging lst years that took the finance elective to come . these guys are pretty good - they came a few years back . thanks . bbo | 0 |
Subject: good morning vince , two items . unless you have an objection , i plan to ship the paper on to don chew at the journal this morning . we can still work on the article but he needs something to begin the editing process . second , in the same issue as our paper will appear the transcript of a roundtable discussion involving sheridan titman , john mccormack ( stern stewart ) , ron erd ( southern energy ) , jeff sandifer ( president of sandifer capital - - $ 700 million undermanagement ) , and gene humphries . attached you will find a section that will not be in the final document , but that i thought you might like to read in light of our own discussions over the course of writing this paper . have a great day . john - interview _ outtakes . 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 | 0 |
Subject: interview schedule for aram sogomonian please find the interview packet for the above - referenced person . the interview will occur on wednesday october 25 , 2000 . please print both documents for your reference . if you have any questions , or conflicts of schedule , please do not hesitate to contact me . resume will be delivered via runner . stephanie 58701 | 0 |
Subject: the latest ( last ? ) . . as columbo would say . . " . . just one more thing " p . 20 last bullet : enron focusing on recruiting and retaining talent thanks again ! christie . - - - - - forwarded by christie patrick / hou / ect on 02 / 07 / 2001 05 : 24 pm - - - - - christie patrick 02 / 07 / 2001 05 : 23 pm to : mark palmer / corp / enron @ enron cc : vince j kaminski / hou / ect @ ect , j _ martin @ baylor . edu subject : the latest ( last ? ) mark ! please review the attached article and forward your comments / authorization for its use to john martin at baylor , copying me and vince . john and vince , i have a few simple comments : 1 . please use " enron corp . " [ rather than " enron corporation " ] 2 . page 3 : as of yesterday , fortune magazine named enron " most innovative " for the sixth year in a row 3 . page 5 : 2 nd paragraph : regarding the " gas bank " concept - - i believe when jeff first introduced it , it fell flat . i think john pick ' s that up ( and enron ' s subsequent recovery of a version of the concept on p . 6 ) , but it ' s probably accurate to mention that at first , it didn ' t go over . 4 . page 13 : re : cindy olson ' s comment on a possible 5 x difference between a " satisfactory " and " superior " vp - - the difference referred to is probably the " bonus " rather than " compensation " ( which , to me , is generally means base salary ) ; also , it varies for each review period , as comparative performance might vary ; further , we might want to run that quote by cindy just to make sure she ' s ok with it ' s publication ( she might have no problem with it whatsoever , but i know for other articles , she ' s been more reluctant to provide that kind of statistic ) . 5 . page 17 ( after annual report quote ) : i suggest changing " enron ' s wholesale business . . . provides " to " . . . businesses . . provide " ; also , rather than " enron wholesale " we might want to define this by the term enron uses : " enron wholesale services " 6 . page 18 : 2 nd paragraph : the tense switching from past to present is technically correct if read carefully , but seems awkward when reading it 7 . page 19 : effective february , jeff skilling is " ceo " . . . . that ' s my 2 - cents worth ! ! i think the article is great . . . even interesting ( ha ! ) . . . even to non - mba ' s like me ! ! thanks ! - - christie . - - - - - forwarded by christie patrick / hou / ect on 02 / 07 / 2001 04 : 41 pm - - - - - vince j kaminski 02 / 02 / 2001 08 : 45 am to : mark s palmer / na / enron @ enron cc : vince j kaminski / hou / ect @ ect , christie patrick / hou / ect @ ect subject : the latest ( last ? ) mark , i am sending you the final ( ? ) draft of the paper by john martin on enron ' s transformation . john martin is a prof from baylor who visited us a few weeks ago . can you take a look at the paper and bless it . i haven ' t read this last version of the paper yet and i will go through it on weekend . vince - - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 02 / 2001 08 : 44 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " john d . martin " on 02 / 01 / 2001 04 : 15 : 36 pm to : vkamins @ enron . com cc : subject : the latest ( last ? ) vince , attached is my latest attempt to wrap everything together . our timetable is very short as we need an " approved by enron " version of the paper to don by next wednesday . don has already made editorial changes for us and may make some additional " writing style " changes but he doesn ' t change the content . i ' ll give you a call later today to alert you to the e - mail . take care , john p . s . i had a nice conversation with steve . sounds like he ' s landed a pretty good contract with wiley . - enron _ paper _ 2 _ 1 _ 01 . 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 | 0 |
Subject: re : enron offsite let ' s do it ! august 18 - 20 is our first choice ! please send me all the information and then we will discuss the particulars . i will get vince to sign it immediately . thanks steve ! shirley " steve collins " on 06 / 27 / 2000 02 : 22 : 27 pm to : cc : subject : re : enron offsite hello again ! i promise i am not running ! the deal that we worked out with the general manager ( tom pratt ) is that enron has a $ 6000 credit with the great divide lodge that will expire on 8 / 1 / 00 . you can either use that credit for individual rooms prior to 8 / 1 / 00 , or we have agreed that we can apply that amount to a meeting prior to the thanksgiving holiday in 2000 if the contract is signed before 8 / 1 / 00 . at this point , august 18 - 20 is available , but the 25 - 28 is not . if we can get this signed prior to 7 / 31 / 00 , your $ 6000 credit would be able to be applied to this event . please let me know if this will work for you . thanks ! steve steve collins national sales manager the village at breckenridge / great divide lodge ( 800 ) 332 - 0424 or ( 970 ) 453 - 3156 direct scollins @ vailresorts . com > > > " shirley crenshaw " 06 / 27 / 00 01 : 06 pm > > > hello steve : please don ' t run ! i know after the last fiasco with an enron offsite you are probably running for the hills ! i do want to apologize to you and thank you for all of your assistance even though we were unable to make the trip . however , i understand there has been an arrangement made with enron , that if we book a time and come before thanksgiving we can recoup the money that we forfeited ? please let me know if i am understanding this correctly . if so , we have been told that our group can use this for an offsite . we are looking at the weekends of august 18 , 19 and 20 or august 25 , 26 and 27 th . there will be approximately 12 people . please let me know your understanding of the arrangement and the availability of the dates mentioned . look forward to hearing from you . regards , shirley crenshaw administrative coordinator enron corp . research telephone : 713 / 853 - 5290 email : shirley . crenshaw @ enron . com | 0 |
Subject: enron credit modeling discussions hi , this email is in reference to our plan for detailed discussions about enron credit ' s modeling strategy . several meetings have already been scheduled . please refer to the attached excel spreadsheet for further details . also , if you like , we can have more informal discussions over lunch , dinner , drinks , etc . thanks in advance for your time . regards , iris | 0 |
Subject: invitation - whartonetevent - apr 20 / plsrsvp vice and christie hello , this is a followup to our previous invitation to attend our next wharton / et event . ? you can rsvp by replying to this email - or - if you cannot attent , you ' re always welcome to designate someone else . ? there is no limit on the number of attendees from your company . _ _ _ yes i plan to attend _ _ _ no , i cannot attend _ _ _ someone else from our organization will attend ( name : _ _ _ _ ) best regards , michael tomczyk managing strategic partnerships ? friday april 20 , 2001 - - 8 : 30 am to 400 pm location - room 1206 steinberg - dietrich hall - wharton school - philadelphia we have designed this conference as an insight - building event , to present current industry experience from best practice firms , as well as our most recent research findings on best practices and strategies for developing and managing alliances , mergers and high tech acquisitions . ? we will include research in progress from our ongoing long term studies on alliances and acquisitions . this is part of our research activity and there is no conference fee . the emerging technologies management research program / mack center is working to identify and develop best practices , competitive strategies and management approaches for industry decision makers in industries that are being created or transformed by emerging technologies . our industry partners include : bank of montreal , charles schwab , dupont , enron , general motors , glaxosmithkline , hewlett - packard , ibm , independence / blue cross , mckinsey , nsa , procter & gamble , sprint , 3 m and xerox . the agenda is included below and more information can also be found on our website : ? http : / / emertech . wharton . upenn . edu . please call or email if you have any questions or comments about any aspect of this event ? - 215 - 573 - 7722 . agenda managing strategic partnerships an insight - building conference including new wharton research on best practices and successful strategies for achieving corporate growth through alliances , mergers and acquisitions . friday , april 20 , 2001 - 8 : 30 to 4 : 30 1206 steinberg - dietrich hall , wharton school presented for our industry partners and guests by the emerging technologies management research program , mack center on managing technological innovation faculty research presentations by : ? harbir singh , paul schoemaker , lori rosenkopf , phanish puranam and prashant kale industry best practice presentations by : sun microsystems , cybersource , broadview and pfizer . agenda & conference topics 8 : 00 - 8 : 30 ? - ? continental breakfast and informal networking 8 : 30 - 8 : 45 introduction : strategic partnering for growth and innovation 8 : 45 - 10 : 00 managing strategic networking 10 : 00 - 10 : 30 - break 10 : 30 - 11 : 30 building partnering skills and capabilities 11 : 30 - 12 : 00 success and failure factors in strategic partnering 12 : 00 - 1 : 30 working lunch - strategies 1 : 30 - 2 : 30 small group reports 2 : 30 - 2 : 45 - break 2 : 45 - 3 : 40 managing high technology acquisitions 3 : 40 - 4 : 00 summary of key insights and future research goals 4 : 00 - adjourn directions : ? take a taxi to the corner of 37 th and walnut . ? at that intersection , turn left and take the broad walkway onto campus . ? turn left at the first intersection ( you will see a lifesize statue of ben franklin sitting on a park bench ) . ? this is locust walk . ? the steinberg - dietrich hall is the large brick building immediately behind " ben " - if you turn left and proceed down the walk you will come to the large entrance with cantilevered steps on the right side of the walk . ? the room iw room 1206 and there is an information desk straight back from the entrance , to guide you to the room . if you are staying at the inn at penn , which is directly across the street from campus on walnut ( between 36 th and 37 th ) - take the walnut street exit from the hotel ( where the restaurant is ) , turn right from the entrance and walk to 37 th street , cross the street and continue onto campus following the directions ( above paragraph ) . wharton is 30 - 40 minutes from the airport , 10 - 15 minutes from the 30 th st . train station and about 15 - 20 minutes from most hotels in center city . - - michael s . tomczyk managing director emerging technologies management research program 1400 sh - dh / 6371 the wharton school philadelphia , pa 19104 - 6371 tel 215 - 573 - 7722 fax 215 - 573 - 2129 website : ? http : / / emertech . wharton . upenn . edu | 0 |
Subject: a few times still available we still have a few time slots available for appointments with bob brooks while he is in houston next week . there are open slots on tuesday ( morning and afternoon ) and wednesday morning . please reply to this e - mail with preferred date and time or call bob at 323 - 663 - 4831 to schedule . | 0 |
Subject: re : book order julie , there are many employees in london who would be interested . you can send an inquiry to steve leppard . i had a presentation last night to garp in houston and did a commercial for the book . you should put me on commission . vince " julie " on 01 / 31 / 2001 06 : 31 : 39 am please respond to " julie " to : cc : subject : re : book order vince , ? i wasn ' t sure if i responded to your email , so apologise either for my delayed response or repeating myself . ? thanks for the 2 nd order ! ? i believe they have already been dispatched . ? yes , i believe we received payment ; thank you very much for following up with paul . ? glad the book was a hit ! ? on another subject , are there any enron ? employees in europe who may be interested in attending either the energy or the weather course ? ? or , are the quants and risk management mostly handled out of houston ? ? thanks again , and i ' ll forward an invoice on to shirley . ? julie ? - - - - - original message - - - - - from : vince . j . kaminski @ enron . com to : julie @ lacima . co . uk cc : vince . j . kaminski @ enron . com sent : friday , january 26 , 2001 11 : 29 pm subject : book order julie , we received the shipment of 50 books . thanks . the book was an instant hit . we need 50 more books . vince p . s . i understand paul sent you the check for the remaining 50 % | 0 |
Subject: research seminar vince has asked that i forward the following : we will begin a seminar devoted to the book on " energy derivatives " , written by clewlow and strickland , every first and third friday of each month , beginning january 19 th . stinson gibner has volunteered to act as the seminar coordinator . on january 19 th only , the seminar will be held in eb 30 cl . every session thereafter will be in eb 49 cl . the seminar will be conducted like a " brown bag " ( everyone bring their own lunch ) . the seminar is mandatory for every member of the group who started after january 1 , 2000 . however , all other members of the group are invited to participate . the books have been ordered and hopefully will arrive by the day of the first meeting . vince kaminski | 0 |
Subject: re : real options article steve , the journal of risk is a more technical and serious publication than risk magazine . if the article is published it will give you more exposure in the academic circles . i think it will be a significant accomplishment . on the downside , it does not receive the same wide circulation as risk among the practitioners . i can also see the reason behind the recommendation given by navroz : the article is fairly long for risk . steven leppard 05 / 23 / 2000 05 : 39 am to : vince j kaminski / hou / ect @ ect cc : subject : real options article vince any thoughts on this proposal ? steve - - - - - - - - - - - - - - - - - - - - - - forwarded by steven leppard / lon / ect on 05 / 23 / 2000 11 : 41 am - - - - - - - - - - - - - - - - - - - - - - - - - - - enron capital & trade resources corp . from : " navroz patel " 05 / 23 / 2000 11 : 37 am please respond to " navroz patel " to : cc : subject : real options steven , after further consultation with the technical editor , we feel that your work would find a more suitable environment for exposure in the journal of risk . ? if you email a copy of your work ( to the editor - in - chief , philippe jorion ) and outline what has happened to : ? ? pjorion @ uci . edu ? then i am sure that they will be keen to give due consideration . ? thank you for your interest and sorry for the delay in coming to this decision . ? best wishes , ? navroz patel , technical assistant , risk magazine . ? | 0 |
Subject: re : conference room kevin yes , it ' s a good idea . vince kevin g moore 02 / 18 / 2000 06 : 56 am to : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , mike a roberts / hou / ect @ ect cc : subject : conference room goodmorning vince , we added a bookcase to the conference room on the 19 th floor however , due to the departments growth i think we could use another one . vince , in the long run it would save us some time . please let me know if this is okay ! thanks kevin moore | 0 |
Subject: presentation - integrating market risk and credit risk all , i will be giving a 40 min presentation on the above topic at the eprm energy 2000 conference in april . the bulletpoints are : balancing market risk and credit risk to achieve a reliable estimation of total risk incorporating market risk into a credit risk model calculating probability of default using credit risk and market risk refining business practice to reflect credit risk and market risk evaluations my proposed approach is to quickly step through the practical process of modelling credit risk , resulting in measures for expected loss and credit - var ; then show how default probs can be calculated using bond and equity data . finally i ' ll describe how credit risk can be mitigated using credit derivatives - plugging enroncredit . com of course . any other ideas for broad topics and / or specific points to mention will be appreciated . the presentation has to be submitted next week . many thanks , ben | 0 |
Subject: re : subscriptions stephanie , please , discontinue credit and renew the two other publications : energy & power risk management and the journal of computational finance . enron north america corp . from : stephanie e taylor 12 / 12 / 2000 01 : 43 pm to : vince j kaminski / hou / ect @ ect cc : subject : subscriptions dear vince , we will be happy to renew your subscription to risk . in addition , the following publications are up for renewal : reg . subscription cost with corp . discount credit $ 1145 . 00 $ 973 . 25 energy & power risk management $ 375 . 00 $ 318 . 75 the journal of computational finance $ 291 . 75 $ 247 . 99 if you wish to renew these , we will also take care of this for you . i would appreciate your responding by december 18 th . please include your company and cost center numbers with your renewal . thank you , stephanie e . taylor esource 713 - 345 - 7928 | 0 |
Subject: re : baylor - enron case study cindy , yes , i shall co - author this paper and i have planted the idea in john martin ' s head . vince from : cindy derecskey @ enron on 10 / 25 / 2000 11 : 38 am to : vince j kaminski / hou / ect @ ect cc : subject : baylor - enron case study vince , i forgot to inquire whether you would also like to be present during the interview process with john martin and ken , jeff and andy ? let me know . . . . thanks , cindy | 0 |
Subject: 7 - 1 - 00 to 7 - 15 - 00 off duty and overtime report oops ! forgot to attach ! - - - - - - - - - - - - - - - - - - - - - - forwarded by shirley crenshaw / hou / ect on 07 / 14 / 2000 11 : 51 am - - - - - - - - - - - - - - - - - - - - - - - - - - - shirley crenshaw 07 / 14 / 2000 11 : 53 am to : vasant shanbhogue / hou / ect @ ect , stinson gibner / hou / ect @ ect , grant masson / hou / ect @ ect , amitava dhar / corp / enron @ enron , maureen raymond / hou / ect @ ect , kevin kindall / corp / enron @ enron , kevin g moore / hou / ect @ ect , osman sezgen / hou / ees @ ees , elena chilkina / corp / enron @ enron cc : vince j kaminski / hou / ect @ ect subject : 7 - 1 - 00 to 7 - 15 - 00 off duty and overtime report attached is the off duty and overtime that was reported to me for the above pay period . you are the only ones in our group that had these reported . please review and if there is an error , please let me know by next monday the 17 th and i can correct it . otherwise , we cannot correct it until the next pay period . thanks ! shirley | 0 |
Subject: operating & strategic plan 2001 - 2003 one more update . i think we finally have the file where we want it . please use the file attached . thanks again . dawn - - - - - - - - - - - - - - - - - - - - - - forwarded by dawn derr / corp / enron on 07 / 20 / 2000 11 : 15 am - - - - - - - - - - - - - - - - - - - - - - - - - - - dawn derr 07 / 17 / 2000 11 : 02 am to : rob walls / na / enron @ enron , monica reasoner / hou / ect @ ect , greek rice / corp / enron @ enron , larry dallman / gpgfin / enron @ enron , christine schlaudraff / corp / enron @ enron , rodney faldyn / corp / enron @ enron , sally beck / hou / ect @ ect , suzanne brown / hou / ect @ ect , mark koenig / corp / enron @ enron , elizabeth linnell / hou / ees @ ees , j mark metts / na / enron @ enron , charlene jackson / corp / enron @ enron , gary mccumber / hou / ect @ ect , robert johansen / corp / enron @ enron , paul clayton / hou / ect @ ect , vince j kaminski / hou / ect @ ect , billie akhave / epsc / hou / ect @ ect , cynthia barrow / hr / corp / enron @ enron , sharon aulds / hr / corp / enron @ enro cc : subject : operating & strategic plan 2001 - 2003 please use the budget format sheet attached below . there is an error in the executive summary sheet of the original file . hope this does not cause anyone undue problems . thanks . dawn - - - - - - - - - - - - - - - - - - - - - - forwarded by dawn derr / corp / enron on 07 / 17 / 2000 12 : 01 pm - - - - - - - - - - - - - - - - - - - - - - - - - - - dawn derr 07 / 14 / 2000 03 : 17 pm to : rob walls / na / enron @ enron , monica reasoner / hou / ect @ ect , greek rice / corp / enron @ enron , larry dallman / gpgfin / enron @ enron , christine schlaudraff / corp / enron @ enron , rodney faldyn / corp / enron @ enron , sally beck / hou / ect @ ect , suzanne brown / hou / ect @ ect , mark koenig / corp / enron @ enron , elizabeth linnell / hou / ees @ ees , j mark metts / na / enron @ enron , charlene jackson / corp / enron @ enron , gary mccumber / hou / ect @ ect , robert johansen / corp / enron @ enron , paul clayton / hou / ect @ ect , vince j kaminski / hou / ect @ ect , billie akhave / epsc / hou / ect @ ect , cynthia barrow / hr / corp / enron @ enron , sharon aulds / hr / corp / enron @ enron cc : elaine schield / corp / enron @ enron , terry west / corp / enron @ enron subject : operating & strategic plan 2001 - 2003 attached are the guidelines and the budget template for the 2001 - 2003 operating & strategic plan . a budget template should be completed for each cost center in your area / group that will be utilized for 2001 . all budgets are due to corp . financial planning no later than close of business august 14 , 2000 . while corporate financial planning has attempted to make the process as easy as possible , we know questions will arise . please feel free to contact me at x 37775 with any questions or problems . thanks in advance . dawn | 0 |
Subject: budget hi dale following discussions with vince , grant and stinson , we ' ve drawn up the proposed budget . we ' re working on the basis that research group headcount will grow to 8 in the near future . business trips us : 8 business trips europe : 10 computer software and licences : gbp 10 , 000 office postage : gbp 350 employee recruitment fees : gbp 30 , 000 ( = 3 x 20 % x gbp 50 , 000 ) professional subscriptions and memberships and books : gbp 15 , 000 training courses : gbp 16 , 000 ( = 8 x gbp 2 , 000 ) conferences : gbp 8 , 000 ( = 4 x gbp 2 , 000 ) mobile phones : gbp 1 , 500 ( = 3 x gbp 500 = me + 2 floaters ) hardware : gbp 10 , 000 ( = laptops , workstations ) suggested allocation as follows . . . rac 20 % uk power 20 % uk gas 5 % continental power 20 % continental gas 5 % global products 10 % ebs 10 % ees 10 % . . . unless you ' ve got any other views on this one ( i ' m happy to take advice here ) . vince has said you can give him a call if you want to discuss any of these points further , but i ' m happy to field initial queries ( i ' ll have to get used to it ! ) . cheers , steve | 0 |
Subject: v @ r methodology for metal positions vince - it seems like we should be able use mg ' s v @ r methodology as version 1 . a if the credit component is eliminated and the hold period is conformed to our one day interval . could we do this and achieve an approximation of where you want to be with the completion of anjam and tamara ' s work ? when submitting a request for interim metals trading policy to rick buy and jeff skilling , i ' d very much like to represent that , while our methodology may be imperfect , we have ways + means of tracking v @ r right now that will be upgraded to enron standards in very short order . thoughts ? | 0 |
Subject: re : mountaintop meetings next week ravi , it ' s fine with me . i think the expense is justified ( as it ' s equal to the cost of the alternative ) . vince ravi thuraisingham @ enron communications on 03 / 09 / 2000 12 : 44 : 01 pm to : stinson gibner / hou / ect @ ect , vince kaminski cc : subject : mountaintop meetings next week fyi , i may have to stay over weekend . vince , if that is the case , i may have to bring my wife or allow her to go to her sister for a week etc . i may ask john to cover some of that cost as ( i think ) he is done with other people . i ' ve seen other guys family members showup . this cost would equal what ebs would have spend to send me home and bring me back again , etc . ravi . - - - - - forwarded by ravi thuraisingham / enron communications on 03 / 09 / 00 12 : 36 pm - - - - - jeanette busse 03 / 09 / 00 10 : 16 am to : dayne relihan / enron communications @ enron communications , dorn hetzel / enron communications @ enron communications , jeanette busse / enron communications @ enron communications , jim irvine / enron communications @ enron communications , john bloomer / enron communications @ enron communications , john griebling / enron communications @ enron communications , kelly williams / enron communications @ enron communications , kenny burroughs / enron communications @ enron communications , kevin kohnstamm / enron communications @ enron communications , laura beneville / enron communications @ enron communications , phil sisneros / enron communications @ enron communications , ravi thuraisingham / enron communications @ enron communications , rob kolosvary / enron communications @ enron communications , scott smith / enron communications @ enron communications , steve elliott / enron communications @ enron communications , steve mcnear / enron communications @ enron communications , tom huntington / enron communications @ enron communications , kenton erwin / enron communications @ enron communications , rebecca lynch / enron communications @ enron communications , stewart seeligson / enron communications @ enron communications cc : sheryl lara / enron communications @ enron communications , judy timson / enron communications @ enron communications , cheryl kondo / enron communications @ enron communications subject : mountaintop meetings next week team , all meetings with hamachi during march 14 - 17 are located at the hamachi campus . negotiations - - the negotiation meeting room is 21 - 10 . this is in building 2000 ( main building with circular drive ) , the conference room is on the ground floor , right hand side . - - all morning drinks , lunches and afternoon refreshments are scheduled ( 20 people ) - - the schedule is as follows : tue 3 / 14 1 : 00 pm - until both parties agree to end . wed 3 / 15 9 : 00 am - until both parties agree to end . thu 3 / 16 9 : 00 am - until both parties agree to end . fri 3 / 17 9 : 00 am - 3 : 00 pm the negotiation team includes : john griebling steve elliott stewart seeligson tom huntington kenton erwin breakout meetings the following rooms reserved for full days , tuesday through friday in building 3000 . 34 a - 302 34 a - 702 34 a - 703 34 a - 705 - - coffee , lunch and afternoon drinks for 25 people , starting tuesday @ lpm is also scheduled for delivery in 34 a - 302 as well . the breakout team participants include : laura beneville jeanette busse kenny burroughs jim irvine rebecca lynch dayne relihan scott smith ravi thuraisingham rob kolosvary kelly williams please let me know if you have any questions . jeanette | 0 |
Subject: hedge effectiveness test for fair value hedges gentlemen : we have had favorable responses regarding the use of our volatility reduction method ( roger , i ' ve attached a copy of our article in case you hadn ' t seen it ) . however , there continued to be a quibble about how to create the set of data points that would be inputs into the testing process . last week the consulting arm of a " big five " accounting firm indicated that the following method proposed by us would be acceptable . we believe this method overcomes the statistical problems that arise from using interest rate differences from overlapping ( " rolling " ) quarters . method : 1 ) calculate daily yield curve changes expressed as ratios , using historical rates from the most recent , say , two years . ( note : no overlap ) . this results in a set of around 494 vectors of ratios ( approximately 247 trading days per year ) . example : if the first three yield curves in the historical set look like this : 19980801 6 . 5 6 . 6 6 . 7 . . . . . . . . . 7 . 2 19980802 6 . 3 6 . 3 6 . 6 . . . . . . . . . 6 . 9 19980803 6 . 6 6 . 8 6 . 9 . . . . . . . . . 7 . 1 then the change from 8 / 1 / 98 to 8 / 2 / 98 is : 6 . 3 / 6 . 5 6 . 3 / 6 . 6 6 . 6 / 6 . 7 . . . . . . . . . . 6 . 9 / 7 . 1 and the change from 8 / 2 / 98 to 8 / 3 / 98 is : 6 . 6 / 6 . 3 6 . 8 / 6 . 3 6 . 9 / 6 . 6 . . . . . . . . . 7 . 1 / 6 . 9 2 ) randomly select 62 of these " ratio " vectors ( approx . 62 trading days in a quarter ) . 3 ) multiply these ratio vectors together to get a single vector ( ie , the 62 6 mo ratios are multiplied together , the 62 lyr ratios are multiplied togeter , etc . ) . the result represents a single quarterly yield curve transformation . apply it to " today ' s " yield curve . the resulting yield curve represents one simulated quarterly change in interest rates 4 ) repeat steps 2 and 3 until an adequate number of yield curves are generated , say 100 . 5 ) proceed with testing process . i would be interested in your comments . leslie abreo andrew kalotay associates , inc . 61 broadway , ste 3025 new york ny 10006 phone : ( 212 ) 482 0900 fax : ( 212 ) 482 0529 email : leslie . abreo @ kalotay . com visit aka ' s website at http : / / www . kalotay . com - fasl 33 article . pdf | 0 |
Subject: your job application to enron research group dear mr . palmer : thank you for your interest in the research group at enron . we recieved your resume and discussed your qualifications within the research group . unfortunately , there is not a good match between our job requirements and your skills . once again , thank you for your interest in our company and best wishes for your future . regards , p . v . krishnarao . | 0 |
Subject: 1 / 2 day seminar : the new texas electric market fyi , i thought some of you might be interested in this half day seminar at ut . bill hogan , as well as speakers from the iso and puc are scheduled to speak . i plan to attend . if we have more than 3 , we can register as a group for $ 145 / person - if more than 10 attend , the price is $ 100 / person . ross baldick , one of martin lin ' s and my advisor is the moderator . it may prove both interesting and contentious will hogan being there . lance - - - - - - - - - - - - - - - - - - - - - - forwarded by lance cunningham / na / enron on 04 / 16 / 2001 09 : 51 am - - - - - - - - - - - - - - - - - - - - - - - - - - - " lance b . cunningham " on 04 / 15 / 2001 05 : 06 : 06 pm to : lance . cunningham @ enron . com cc : subject : fwd : the new texas electric market > delivered - to : lbcunningham @ mail . utexas . edu > date : tuesday , 10 apr 2001 23 : 30 : 14 cst > to : lbcunningham @ mail . utexas . edu > from : engineering foundation > subject : the new texas electric market > > dear mr . cunningham , > > > " the new texas electric market and how it > compares to the california market " > > may 2 , 2001 - 1 : 00 to 5 : 00 p . m . > > seminar presented by the college of engineering , > the university of texas at austin . > > electric reliability council of texas ( ercot ) > plans to open a pilot retail market in most areas > of the texas region on june 1 , 2001 . this > presentation will address aspects of the ercot > market and how texas will avoid experiencing the > same problems as california . ut austin ' s center > for lifelong engineering is introducing a 1 / 2 day > seminar to provide an overview of how this market > will be structured . > > presenters will include officials from harvard , > university of california energy institute , ercot , > and the public utility commission of texas . > > for more information or to register , please visit > our website at www . lifelong . engr . utexas . edu , or > contact sharon campos at 512 - 471 - 3506 , or > scampos @ mail . utexas . edu . > > ( this announcement was sent as a courtesy > from ut - austin college of engineering to > ut engineering alumni . it was e - mailed > from the college ' s general e - mail address , > which is flagged as ' engineering > foundation . ' if you wish to discontinue > further email messages from the college of > engineering , please reply to this message > with your full name , degree information > and " unsubscribe . " thank you ! ) | 0 |
Subject: transport fuel p / l - - - - - - - - - - - - - - - - - - - - - - forwarded by zimin lu / hou / ect on 08 / 30 / 2000 11 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - - zimin lu 08 / 30 / 2000 11 : 07 am to : colleen sullivan / hou / ect @ ect cc : andrew h lewis / hou / ect @ ect , greg couch / hou / ect @ ect subject : transport fuel p / l colleen , after looking into the transport deals for nbpl ( long term deal 1 , 2 , 25 , 26 ) , i think i figured it out why we see positive fuel p / l for deal 1 , 25 , and 26 and negative fuel p / l for deal 2 . the following plot shows nymex curve as of 8 / 23 / 00 : for short term , nymex moved up compared to that of 8 / 22 / 00 , while the long term nymex moved down . here are the tenor for each deal : deal 1 : start 01 - sep - 00 , end 22 - may - 09 , the above graph suggested a positve fuel p / l deal 2 : start 01 - sep - 00 , end 28 - feb - 02 , the above graph suggested a small negative p / l deal 25 : start 01 - may - 02 , end 28 - feb - 09 , the above graph suggested a positve fuel p / l deal 26 : start 01 - mar - 09 , end 31 - may - 09 , the above graph suggested a positve fuel p / l the transport book seems to be correct on these fuel p / ls . another point worth to mention is that the fuel cost is related to index price ( nymex + basis + index premium ) , to correctly interpret fuel p / l , we need to look at the index curve change . let me know your thoughts on this . zimin | 0 |
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