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arnold-j/all_documents/633.
|
subject: Re:
content: i need significant lead time to prepare for boots day. please advise earlier
next time.
From: Margaret Allen@ENRON on 05/11/2001 06:09 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Re:
I'll be here until tomorrow afternoon, then off to Waco to see my mom. I
just got back to my desk after being in meetings all day. Who knows how long
I'll be here tonight and I have a shit load of work to do tomorrow. Why do I
work here again?
What's up with you? I bought some guest to your floor today but you weren't
around. And I have on boots with curly hair.
Take care, MSA
Oh, let's chat about Guggenheim next week. Are you going on the 17th too?
John Arnold@ECT
05/11/2001 11:58 AM
To: Margaret Allen/Corp/Enron@ENRON
cc:
Subject:
you in town this weekend?
| ||
arnold-j/all_documents/635.
|
subject:
content: Kim:
I will not be at the may 18 management mtg as I will be in NY on business.
| ||
arnold-j/all_documents/636.
|
subject: Re: myrtle beach
content: Appreciate the offer but I won't be able to get out of work,
"Piasio, Stephen [FI]" <[email protected]> on 05/10/2001 11:23:18 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: myrtle beach
do you or any one of your colleagues at the mighty Enron want to join us at
our annual golf outing in Myrtle Beach. You pay the air, we've got the
rest.
Only 4 rules:
no cologne
no top button buttoned on the golf shirt
not permitted to break 100
no cameras
reminder:
Friday June 1 2 rounds
Saturday, June 2 1 round/poolside
Sunday, June 3 1 round
Enron has an open invite. Please let me know.
| ||
arnold-j/all_documents/637.
|
subject: RE: try this one...
content: For extra credit....
If the company is worth 150% more under management A rather than 50% more,
does your answer change?
"Eva Pao" <[email protected]> on 05/11/2001 05:13:59 PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: RE: try this one...
will you do all of my homework?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, May 11, 2001 8:41 AM
To: [email protected]
Subject: Re: try this one...
i'll pay a grand total of 0
"Eva Pao" <[email protected]> on 05/10/2001 05:15:59 PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: try this one...
Please read the following problem very carefully, and write in a number at
the end. You should be ready to defend your answer. Only a number is
allowed, not an algebraic equation.
Acquiring a Company
In the following exercise you will represent Company A (the acquirer),
which is currently considering acquiring Company T (the target) by means of
a tender offer. You plan to tender in cash for 100% of Company T's shares
but are unsure how high a price to offer. The main complication is this:
the value of Company T depends directly on the outcome of a major oil
exploration project it is currently undertaking. Indeed, the very
viability
of Company T depends on the exploration outcome. If the project fails, the
company under current management will be worth nothing--$0/share. But if
the project succeeds, the value of the company under current management
could be as high as $100/share. All share values between $0 and $100 are
considered equally likely. By all estimates, the company will be worth
considerably more in the hands of Company A than under current management.
In fact, whatever the ultimate value under current management, the company
will be worth fifty percent more under the management of A than under
Company T. If the project fails, the company is worth $0/share under
either
management. If the exploration project generates a $50/share value under
current management, the value under Company A is $75/share. Similarly, a
$100/share value under Company T implies a $150/share value under Company
A,
and so on.
The board of directors of Company A has asked you to determine the
price
they should offer for Company T's shares. This offer must be made now,
before the outcome of the drilling project is known. From all indications,
Company T would be happy to be acquired by Company A, provided it is at a
profitable price. Moreover, Company T wishes to avoid, at all cost, the
potential of a takeover bid by any other firm. You expect Company T to
delay a decision on your bid until the results of the project are in, then
accept or reject your offer before the news of the drilling results reaches
the press.
Thus, you (Company A) will not know the results of the exploration
project
when submitting your price offer, but Company T will know the results when
deciding whether or not to accept your offer. In addition, Company T will
accept any offer by Company A that is greater than the (per share) value of
the company under current management. Thus, if you offer $50/share, for
instance, Company T will accept if the value of the company to Company T is
anything less than $50.
As the representative of Company A, you are deliberating over price
offers
in the range of $0/share (this is tantamount to making no offer at all) to
$150/share. What price offer per share would you tender for Company T's
stock?
$______ per/share
| ||
arnold-j/all_documents/638.
|
subject: Free Shipping for Your Amazoniversary
content: [IMAGE]
[IMAGE]
?
Dear Amazon Customer,
What's an Amazoniversary? Three years ago this month, you placed your very
first order (using this e-mail address) with Amazon.com. To remind you how
much there is to experience here, we're offering you free shipping (up to
$10) on your next order of $50 or more.
So celebrate any way you like: with a bestselling book, a new DVD
release, or a CD player--it's up to you. But be sure to take advantage of
this exclusive free shipping offer before May 31. (See details below.)
We look forward to all your Amazoniversaries to come!
Sincerely,
[IMAGE]
David Risher
Senior VP and Amazon Customer of Five Years (and Counting)
Amazon.com
?
[IMAGE]
[IMAGE]
[IMAGE]Books
[IMAGE]Electronics
[IMAGE]Music
[IMAGE]DVD
[IMAGE]Software
[IMAGE]Toys
[IMAGE]Kitchen
[IMAGE]Tools & Hardware
[IMAGE]Outdoor Living
?
We hope you enjoyed receiving this message. However, if you'd rather not
receive future e-mails of this sort from Amazon.com, please visit your
Amazon.com account page. Under the Your Account Settings heading, click the
"Update your communication preferences" link.
Don't delete. This is your promotional certificate for free shipping (up to
$10) on your order of $50 or more. (See restrictions below.)
Offer: Up to $10 worth of free shipping on your order of $50 or more.
Claim Code: 3A2C-FFYXUJ-W785CM
Expires: May 31, 2001
To redeem your free shipping, simply:
1. Go to Amazon.com.
2. Select the items you want, totaling $50 or more, and add them to your
Shopping Cart.
3. Click the "Proceed to checkout" button. At the Ship section of the
progress bar, you must select the Standard Shipping method and the "Wait
until the entire order is ready before shipping" preference. At the Pay
section of the progress bar, you'll see a box on the lower part of the page
that says, "Do you have a gift certificate or promotional claim code?"
4. Enter your claim code in the space provided to redeem your promotional
certificate. Then click Continue and complete the order form.
5. You'll know you have placed your order when you reach a screen that
says, "Thank you for your order. We will send you an e-mail confirmation
shortly." If you want to review the details of your order, click the
appropriate links in the "Managing your order" box, or the Your Account link
in the upper right corner of the page.
The fine print:
For the fine print, please follow the link to our free shipping offer.
Please note that this message was sent to the following e-mail address:
[email protected]
| ||
arnold-j/all_documents/639.
|
subject: 4-URGENT - OWA Please print this now.
content: Current Notes User:
REASONS FOR USING OUTLOOK WEB ACCESS (OWA)
1. Once your mailbox has been migrated from Notes to Outlook, the Outlook
client will be configured on your computer.
After migration of your mailbox, you will not be able to send or recieve mail
via Notes, and you will not be able to start using Outlook until it is
configured by the Outlook Migration team the morning after your mailbox is
migrated. During this period, you can use Outlook Web Access (OWA) via your
web browser (Internet Explorer 5.0) to read and send mail.
PLEASE NOTE: Your calendar entries, personal address book, journals, and
To-Do entries imported from Notes will not be available until the Outlook
client is configured on your desktop.
2. Remote access to your mailbox.
After your Outlook client is configured, you can use Outlook Web Access (OWA)
for remote access to your mailbox.
PLEASE NOTE: At this time, the OWA client is only accessible while
connecting to the Enron network (LAN). There are future plans to make OWA
available from your home or when traveling abroad.
HOW TO ACCESS OUTLOOK WEB ACCESS (OWA)
Launch Internet Explorer 5.0, and in the address window type:
http://nahou-msowa01p/exchange/john.doe
Substitute "john.doe" with your first and last name, then click ENTER. You
will be prompted with a sign in box as shown below. Type in "corp/your user
id" for the user name and your NT password to logon to OWA and click OK. You
will now be able to view your mailbox.
PLEASE NOTE: There are some subtle differences in the functionality between
the Outlook and OWA clients. You will not be able to do many of the things
in OWA that you can do in Outlook. Below is a brief list of *some* of the
functions NOT available via OWA:
Features NOT available using OWA:
- Tasks
- Journal
- Spell Checker
- Offline Use
- Printing Templates
- Reminders
- Timed Delivery
- Expiration
- Outlook Rules
- Voting, Message Flags and Message Recall
- Sharing Contacts with others
- Task Delegation
- Direct Resource Booking
- Personal Distribution Lists
QUESTIONS OR CONCERNS?
If you have questions or concerns using the OWA client, please contact the
Outlook 2000 question and answer Mailbox at:
[email protected]
Otherwise, you may contact the Resolution Center at:
713-853-1411
Thank you,
Outlook 2000 Migration Team
| ||
arnold-j/all_documents/64.
|
subject: GE persons visiting Friday, the 8th
content: Derryl:
Thanks for pulling me in to meet John Schroeder, Account Manager (whom I had
met earlier with Graham Gebbie) and Marco Arcelli, Sales Manager, Pipelines.
Look forward to keeping in touch on this if any buy side opportunities are
evenutally pursued.
Thanks again.
Sarah-Joy
| ||
arnold-j/all_documents/640.
|
subject: 3 - URGENT - TO PREVENT LOSS OF INFORMATION
content: Critical Migration Information:
1. Your scheduled Outlook Migration Date is THE EVENING OF : May 15th
2. You need to press the "Save My Data" button (only once) to send us your
pre-migration information.
3. You must be connected to the network before you press the button.
4. If a POP-UP BOX appears, prompting you to "ABORT, CANCEL OR TRUST SIGNER"
please select TRUST SIGNER.
5. Any information you Add to your Personal Address Book, Journal or calendar
after you click on the button will need to be manually re-added into Outlook
after you have been migrated.
6. Clicking this button does not complete your migration to Outlook. Your
migration will be completed the evening of your migration date.
Failure to click on the button means you WILL NOT get your Calendar,
Contacts, Journal and ToDo information imported into Outlook the day of your
migration and could result in up to a 2 week delay to restore this
information.
If you encounter any errors please contact the resolution center @
713-853-1411
| ||
arnold-j/all_documents/641.
|
subject: 2- SURVEY/INFORMATION EMAIL 5-15-01
content: Current Notes User:
To ensure that you experience a successful migration from Notes to Outlook,
it is necessary to gather individual user information prior to your date of
migration. Please take a few minutes to completely fill out the following
survey. Double Click on document to put it in "Edit" mode. When you finish,
simply click on the 'Reply With History' button then hit 'Send' Your survey
will automatically be sent to the Outlook 2000 Migration Mailbox.
Thank you.
Outlook 2000 Migration Team
------------------------------------------------------------------------------
--------------------------------------------------------------
Full Name:
Login ID:
Extension:
Office Location:
What type of computer do you have? (Desktop, Laptop, Both)
Do you have a PDA? If yes, what type do you have: (None, IPAQ, Palm Pilot,
Jornada)
Do you have permission to access anyone's Email/Calendar?
If yes, who?
Does anyone have permission to access your Email/Calendar?
If yes, who?
Are you responsible for updating anyone else's address book?
If yes, who?
Is anyone else responsible for updating your address book?
If yes, who?
Do you have access to a shared calendar?
If yes, which shared calendar?
Do you have any Distribution Groups that Messaging maintains for you (for
mass mailings)?
If yes, please list here:
Please list all Notes databases applications that you currently use:
In our efforts to plan the exact date/time of your migration, we also will
need to know:
What are your normal work hours? From: To:
Will you be out of the office in the near future for vacation, leave, etc?
If so, when? From (MM/DD/YY): To (MM/DD/YY):
| ||
arnold-j/all_documents/642.
|
subject: RE: in
content: you dont like my ideas
"Eva Pao" <[email protected]> on 05/09/2001 05:06:50 PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: RE: in
i'll call
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Sunday, April 29, 2001 8:15 PM
To: [email protected]
Subject:
pookie:
check this out:
www.sailmainecoast.com/index.html
| ||
arnold-j/all_documents/643.
|
subject:
content: you in town this weekend?
| ||
arnold-j/all_documents/644.
|
subject: PG&E Energy Trading
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 05/11/2001 11:53
AM ---------------------------
From: Jason R Williams/ENRON@enronXgate on 05/11/2001 10:50 AM
To: Phillip K Allen/HOU/ECT@ECT, Scott Neal/HOU/ECT@ECT, Hunter S
Shively/ENRON@enronXgate, Thomas A Martin/ENRON@enronXgate, John
Arnold/HOU/ECT@ECT
cc: William S Bradford/ENRON@enronXgate, Tanya Rohauer/ENRON@enronXgate,
Russell Diamond/ENRON@enronXgate
Subject: PG&E Energy Trading
Phillip, Scott, Hunter, Tom and John -
Just to reiterate the new trading guidelines on PG&E Energy Trading:
1. Both financial and physical trading are approved, with a maximum tenor of
18 months
2. Approved entities are: PG&E Energy Trading - Gas Corporation
PG&E Energy Trading - Canada Corporation
NO OTHER PG&E ENTITIES ARE APPROVED FOR TRADING
3. Both EOL and OTC transactions are OK
4. Please call Credit (ext. 31803) with details on every OTC transaction.
We need to track all new positions with PG&E Energy Trading on an ongoing
basis. Please ask the traders and originators on your desks to notify us
with the details on any new transactions immediately upon execution. For
large transactions (greater than 2 contracts/day or 5 BCF total), please call
for approval before transacting.
Thanks for your assistance; please call me (ext. 53923) or Russell Diamond
(ext. 57095) if you have any questions.
Jay
| ||
arnold-j/all_documents/645.
|
subject: Re: Question?
content: yes
Ina Rangel
05/10/2001 05:47 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Question?
John,
Do you think we need to see about sending an IT Tech for you and Maggi on
Friday to make sure everything is working okay? If we do, we would have to
pay for their travel expenses.
It would be beneficial to you instead of having to be on the phone with IT
for any problems.
Let me know.
-Ina
| ||
arnold-j/all_documents/646.
|
subject: Re: try this one...
content: i'll pay a grand total of 0
"Eva Pao" <[email protected]> on 05/10/2001 05:15:59 PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: try this one...
Please read the following problem very carefully, and write in a number at
the end. You should be ready to defend your answer. Only a number is
allowed, not an algebraic equation.
Acquiring a Company
In the following exercise you will represent Company A (the acquirer),
which is currently considering acquiring Company T (the target) by means of
a tender offer. You plan to tender in cash for 100% of Company T's shares
but are unsure how high a price to offer. The main complication is this:
the value of Company T depends directly on the outcome of a major oil
exploration project it is currently undertaking. Indeed, the very viability
of Company T depends on the exploration outcome. If the project fails, the
company under current management will be worth nothing--$0/share. But if
the project succeeds, the value of the company under current management
could be as high as $100/share. All share values between $0 and $100 are
considered equally likely. By all estimates, the company will be worth
considerably more in the hands of Company A than under current management.
In fact, whatever the ultimate value under current management, the company
will be worth fifty percent more under the management of A than under
Company T. If the project fails, the company is worth $0/share under either
management. If the exploration project generates a $50/share value under
current management, the value under Company A is $75/share. Similarly, a
$100/share value under Company T implies a $150/share value under Company A,
and so on.
The board of directors of Company A has asked you to determine the price
they should offer for Company T's shares. This offer must be made now,
before the outcome of the drilling project is known. From all indications,
Company T would be happy to be acquired by Company A, provided it is at a
profitable price. Moreover, Company T wishes to avoid, at all cost, the
potential of a takeover bid by any other firm. You expect Company T to
delay a decision on your bid until the results of the project are in, then
accept or reject your offer before the news of the drilling results reaches
the press.
Thus, you (Company A) will not know the results of the exploration project
when submitting your price offer, but Company T will know the results when
deciding whether or not to accept your offer. In addition, Company T will
accept any offer by Company A that is greater than the (per share) value of
the company under current management. Thus, if you offer $50/share, for
instance, Company T will accept if the value of the company to Company T is
anything less than $50.
As the representative of Company A, you are deliberating over price offers
in the range of $0/share (this is tantamount to making no offer at all) to
$150/share. What price offer per share would you tender for Company T's
stock?
$______ per/share
| ||
arnold-j/all_documents/647.
|
subject: RE: in
content: newport??
"Eva Pao" <[email protected]> on 05/09/2001 05:06:50 PM
Please respond to <[email protected]>
To: <[email protected]>
cc:
Subject: RE: in
i'll call
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Sunday, April 29, 2001 8:15 PM
To: [email protected]
Subject:
pookie:
check this out:
www.sailmainecoast.com/index.html
| ||
arnold-j/all_documents/648.
|
subject: Re: eBay End of Auction - Item # 1236142249 (DAVE MATTHEWS TICKETS
content: 199.99+ $18 o/n shipping = 217.99
Visa 4128 0033 2341 1978 exp 8/02
shipping and billing address :
John Arnold
909 Texas Ave #1812
Houston, TX 77002
713-557-3330
[email protected] on 05/10/2001 01:20:57 AM
To: <[email protected]>
cc:
Subject: Re: eBay End of Auction - Item # 1236142249 (DAVE MATTHEWS TICKETS
HOUSTON 4TH ROW 5/12)
Pay Patrick Kenne, [email protected], at paypal.com or bidpay.com, bid
plus $12 for Fed-Ex Saver, or $18 for Fed-Ex overnight shipping. Put shipping
info in note section. If you want Fed-Ex c.o.d., get a money order for bid
plus $25 to Paula Fowler ready to give to fed-ex and e-mail me your shipping
address. If you want to use paypal, add 1% to total, they charge me 2.3%
now!! If you are sending a money order, send to Patrick Kenne 2879 Timber
Range Court Columbus, Ohio 43231. Please include auction # and all shipping
info. Thanks, Pat 614-891-9707
| ||
arnold-j/all_documents/649.
|
subject: Option Advisory Committee Meeting May 31
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 05/10/2001 02:21
PM ---------------------------
"Schaefer, Matthew" <[email protected]> on 05/10/2001 01:26:57 PM
To: Brad Banky <[email protected]>, David Rosenberg
<[email protected]>, James Haupt <[email protected]>, Jeff Frase
<[email protected]>, Jeff Ong <[email protected]>, Jim Adams
<[email protected]>, John Arnold <[email protected]>, Kayvan Scott
Malek <[email protected]>, Michael Maggi <[email protected]>, Robert Collins
<[email protected]>, Russ Knutsen <[email protected]>, Sanjiv Khosla
<[email protected]>, William Coorsh <[email protected]>
cc:
Subject: Option Advisory Committee Meeting May 31
Please be advised that the Option Advisory Committee meeting will be at 4:00
eastern time, May 31, 2001.
Matthew Schaefer
New York Mercantile Exchange
212.299.2612
| ||
arnold-j/all_documents/65.
|
subject: Continental Briefing for Enron/Continental meeting December 12th
content: Mr. Shankman:
In preparation for the meeting on December 12th with Larry Kellner, CFO,
Continental Airlines, I have noted below some background on the
Enron/Continental relationship and the purpose for the meeting. Mr.
Shankman, please advise if you would like me to distribute this to the
attendees.
EXECUTIVE SUMMARY:
Over the past several years Enron has been hedging Continental's crude oil.
The relationship has been beneficial to both sides. As a result, since 1999
Enron has made over $9 million and Continental has saved over $45 million.
The purpose for the December 12th meeting is to address three initiatives in
order of economic value: (1) fuel management, (2) weather derivatives, and
(3) plastics hedging -- VaR analysis. Several new initiatives being
proposed to Continental include the following:
exchanging call options on crude oil for airline tickets (Craig Breslau,
Originator)
transacting financial swaps on line (Larry Gagliardi, Originator)
creating a weather derivative product for the airline industry (Mark Tawney
and Gary Taylor, Originators)
outsourcing Continental's antifreeze and plastics risks by hedging these
products with Enron (Alan Engberg, Originator)
Meeting Attendees from Continental Airlines:
Ron Howard, Vice President, Food Services
Larry Kellner, Chief Financial Officer
Greg Hartford, Vice President, Fuel Management Company
Jeff Misner, Vice President and Treasurer (tentative)
Meeting Attendees from Enron:
Jeff Shankman, President and COO, Enron Global Markets
John Nowlan, Vice President, Enron Global Markets
Craig Breslau, Vice President, Enron North America
Mark Tawney, Director, Enron Global Markets (tentative)
DISCUSSION:
(Developed through conversations with Alan Engberg, Larry Gagliardi, Gary
Taylor, Craig Breslau, Tracy Ramsey and Lucy Ortiz.)
Enron Buy Side with Continental:
Current Enron verifiable spend on Continental airline tickets was
approximately $40 million in FY 1999 and $17.5 million for the first six
months of 2000.
Enron Sell Side with Continental:
(1) FUEL MANAGEMENT:
Current Business: Over the past 2 years, Craig Breslau and others have been
managing a strong relationship with Greg Hartford, VP, Continental Fuel
Management, hedging Continental's crude oil. The first transaction was on
January 14, 1998 -- a one month Forward on Kero. Since then, Enron has
completed 29 transactions with two commodities: KERO and Crude. Current
business consists of three crude call options, settling in December 2000
($31.00) and January, 2001 ($34.00 and $35.00)
Value to Enron: Enron has earned $9,682,084 (1999-October 6, 2000)
Value to Continental: Continental has saved $45,001,744 (1999-October 6,
2000)
Possible next steps: (a) A transaction where Enron exchanges call options
on crude oil for airline tickets.
(b) Financial jet swaps on line: Larry Gagliardi has already spoken with
Rick Pressly, Director, Continental Fuel Management, regarding financial jet
swaps on line. At the time, Pressly was not interested in pursuing this
product offering.
Value to Continental for (b): a more perfect hedge as opposed to hedging
with crude oil since hedging jet fuel with jet is a more perfect hedge.
Enron could offer services for the whole year and explore multi-year options
as well both with financial and physical jet fuel.
Possible next steps: Would Larry Kellner be interested in (a) or (b)? Enron
could also supply Continental with jet fuel physical in the following
locations such as the US Gulf Coast, New York harbor, the US West Coast, and
Europe. (Enron is doing this now with Delta airlines in New York harbor).
If so, Gagliardi could provide a guest password and Enron Online
identification number if Kellner's office wanted to review the product.
(2) WEATHER DERIVATIVE PRODUCT:
Business proposition: Create a basket of weather related risks - such that
aggregate bad weather above a tolerable level would result in payment from
Enron to Continental.
Continental Airlines clearly has exposure to weather as indicated in their
annual reports and periodic press releases - particularly those discussing
earnings. It is extremely difficult to envision the perfect weather hedge
for all of Continental's weather related exposure. However, it is not
difficult to envision simple ways to reduce a large portion of it.
Continental has hubs in Houston, Newark, and Cleveland. The weather
conditions that create delays and increased costs in these areas include -
rainfall above certain amounts, snowfall above certain amounts, temperatures
below freezing (de-icing costs), winds above a certain speed, etc.
Value to us: Create value by designing a basket of these risks.
Value to them: Creation of a weather hedge to protect Continental's exposure.
Possible next steps: Upper management would need to issue a directive to
various groups within Continental to describe what weather conditions affect
the bottom line, how much they affect the bottom line, and then ask each
group to attach a "confidence level" to each of their estimates - Continental
could start a weather risk management program by only hedging a weighted
average of their exposure x their confidence level - or some portion thereof.
Exposure areas would be categorized according to the following:
Clear exposure. Quantifiable.
Clear exposure. Difficult to quantify
Potential exposure. Quantifiable
Potential exposure. Difficult to quantify
For each of the above categories, Enron would also need an indication of
whether Continental has historical cost data against which we can regress
historical weather data.
Enron's weather derivatives team could then sit down with Kirk Rummel,
Director and Airport Services Division Controller, and some of his team (or
others designated by Kellner) and brainstorm about different types of weather
that cause increased cost to Continental. (Gary Taylor made a brief
presentation to Rummel on November 6th; no follow up action with Enron has
taken place to date)
(3) PLASTICS:
Business proposition: Alan Engberg proposed that Continental outsource
their antifreeze risk (ethylene glycol / propylene glycol) and plastics (high
impact polystyrene, polyethylene) by hedging those products with Enron.
Value to Continental: Cost/Budget certainty (assuming a perfect hedge whereby
their purchase contracts are linked to the index used for hedging) and
associated reduction in volatility of cash flows
Value to Enron: The value is approximately $2 million notional value if they
hedged 100% of their 4 million pound polystyrene exposure. Since Continental
has not yet shared the size of their antifreeze buy, Engberg cannot comment
on the potential value to Enron though he is fairly certain it would be much
larger than $2 million.
Possible next steps
This proposition is being considered by Ron Howard's team at Continental.
Continental needs to share their antifreeze spend with Enron. Enron could
then develop a proposal to Continental that includes perceived benefits of
outsourcing their commodity risk to Enron. Could a follow-up meeting with
Ron Howard's team and Larry Kellner's designated contact be arranged to
facilitate this process?
Alan Engberg also recommends working with Continental on a strategic approach
to modelling their overall exposures using VaR may prove extremely powerful
and rewarding to both companies. David Port is already (x-39823) looking at
ways to outsource Enron's expertise in this area. Continental could be a
pioneer in the effort. Factors to model would
include jet fuel, natural gas, electricity, currency, interest rates,
plastics, antifreeze, paper, and, metal.
| ||
arnold-j/all_documents/651.
|
subject:
content: Did you ever get the check I sent?
And where is the article you owe me?
Click the link!!!
Jeff Pesot
GA Options,LLC
212 947 3337
212 947 3339 fax
646 522 2528 cell
[email protected]
www.gaoptions.com
| ||
arnold-j/all_documents/652.
|
subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades)
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 05/10/2001 08:18
AM ---------------------------
[email protected] on 05/10/2001 07:50:19 AM
To: [email protected]
cc:
Subject: (01-154) Implementation of New NYMEX Rule 9.11A (Give-Up Trades)
IMPORTANT MEMO
Notice # 01-154
May 7, 2001
TO:
All NYMEX Division Members and Member Firms
FROM:
Neal L. Wolkoff, Executive Vice President
RE:
Implementation of New NYMEX Rule 9.11A ("Give-Up Trades")
DATE:
May 7, 2001
===========================================================
Please be advised that beginning on the trade date of Friday, June 1, 2001,
new NYMEX Rule 9.11A ("Give-Up Trades") will go into effect.
! In the absence of an applicable give-up agreement, new Rule 9.11A will
define the respective responsibilities/obligations to an order of executing
brokers, customers and Clearing Members.
! The term "executing broker" as used in Rule 9.11A refers to the
registered billing entity, Member Firm or Floor Broker to whom the order is
transmitted.
! Rule 9.11 will provide that, in the absence of an applicable give-up
agreement, a Clearing Member may reject a trade only if: (1) the trade
exceeds trading limits established by the Clearing Member for that customer
that have been communicated to the executing broker as provided by the rule
or (2) the trade is an error for which the executing broker is responsible.
! The new rule also places affirmative obligations on executing brokers
to confirm Clearing Member authorization for an account. For example,
prior to an executing broker accepting and executing an initial order for
any new customer account, such executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(a) the customer has a valid account with the Clearing Member;
(b) the account number;
(c) the brokerage rate;
(d) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(e) a listing or summary of persons authorized to place orders for that
account.
Moreover, the executing broker must retain a copy of the authorization or
the specifics of the telephonic confirmation, which includes: opposite
party, date, time, and any other relevant information. The Compliance
Department will conduct periodic audits of such records, and falsification
of such information shall be the basis for disciplinary action.
If you have any questions concerning this new rule, please contact Bernard
Purta, Senior Vice President, Regulatory Affairs and Operations, at (212)
299- 2380; Thomas LaSala, Vice President, NYMEX Compliance Department, at
(212) 299-2897; or Arthur McCoy, Vice President, Financial Surveillance
Section, NYMEX Compliance Department, at (212) 299-2928,
NEW RULE 9.11A ("Give-Up Trades")
(Entire rule is new.)
Rule 9.11A Give-Up Trades
In the absence of a give-up agreement whose terms and conditions govern the
responsibilities/obligations of executing brokers, customers and Clearing
Members, the following rules shall define the respective
responsibilities/obligations of those parties to an order. The "executing
broker", as used in this rule, is the registered billing entity, Member
Firm or Floor Broker to whom the order is transmitted.
(A) Responsibilities/Obligations of Clearing Members
(1). Limits Placed by Clearing Member. A Clearing Member may, in its
discretion, place trading limits on the trades it will accept for give-up
for a customer's account from an executing broker, provided however, that
the executing broker receives prior written or electronic notice from the
Clearing Member of the trading limits on that account. Notice must be
received by the executing broker in a timely manner. A copy of such notice
shall be retained by the Clearing Member.
(2). Trade Rejection. A Clearing Member may reject ("DK") a trade only if:
(1) the trade exceeds the trading limits established under Section I(A) of
this rule for that customer and it has been communicated to the executing
broker as described in Subsection (A); or (2) the trade is an error for
which the executing broker is responsible. If a Clearing Member has a
basis for rejecting a trade, and chooses to do so in accordance with the
provisions of Rule 2.21(B), it must notify the executing broker promptly.
(3). Billing. A Clearing Member will pay all floor brokerage fees incurred
for all transactions executed by the executing broker for the customer and
subsequently accepted by the Clearing Member by means of the ATOM system.
Floor brokerage fees will be agreed upon in advance among the Clearing
Member, customer and the executing broker.
(B) Responsibilities/Obligations of Executing Brokers
(1) Customer Order Placement. An executing broker will be responsible for
determining that all orders are placed or authorized by the customer. Once
an order has been accepted, a broker or the broker's clerk must:
(a) confirm the terms of the order with the customer;
(b) accurately execute the order according to its terms;
(c) confirm the execution of the order to the customer as soon as
practicable; and
(d) transmit such executed order to the Clearing Member as soon as
practicable in accordance with Exchange Rules and procedures.
2. Use of Other Persons. Unless otherwise agreed in writing, the
executing broker is allowed to use the services of another broker in
connection with the broker's obligations under these rules. The executing
broker remains responsible to the customer and Clearing Member under these
rules.
3. Executing Broker Responsibility for Verifying Clearing Member
Authorization. Prior to a broker accepting and executing an initial order
for any new customer account, the executing broker must confirm with the
Clearing Member by telephonic, electronic or written means, that:
(f) the customer has a valid account with the Clearing Member;
(g) the account number;
(h) the brokerage rate;
(i) the customer is authorized by the Clearing Member to place orders with
the executing broker for that account; and
(j) a listing or summary of persons authorized to place orders for that
account.
The executing broker must retain a copy of the authorization or the
specifics of the telephonic confirmation, which includes: opposite party,
date, time, and any other relevant information. The falsification of such
information shall be the basis for disciplinary action.
4. Rejection of Customer Order. Where an executing broker has confirmed
Clearing Member authorization to execute orders on behalf of a customer in
accordance with this Rule 9.11A, the broker may, in the broker's
discretion, reject an order that the customer transmits to the broker for
execution. The broker shall promptly notify the customer and the Clearing
Member(s) of any such rejection.
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
| ||
arnold-j/all_documents/653.
|
subject: FW: details for long term flat price swap on Nat Gas Houston Ship
content: Russell:
Just fyi, they're willing to take us for 20 years.
---------------------- Forwarded by John Arnold/HOU/ECT on 05/10/2001 08:17
AM ---------------------------
From: Eric Bass/ENRON@enronXgate on 05/10/2001 07:42 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: FW: details for long term flat price swap on Nat Gas Houston Ship
Channel Inside FERC
John,
Attached are the volumes associated with the 20 yr Soc Gen deal we talked
about. I have yet to hear from credit. I will let you know the status as it
becomes available.
Eric
-----Original Message-----
From: [email protected]@ENRON
[mailto:IMCEANOTES-Alexander+2EWERNER+40us+2Esocgen+2Ecom+40ENRON@ENRON.com]
Sent: Thursday, May 10, 2001 7:34 AM
To: Bass, Eric
Subject: details for long term flat price swap on Nat Gas Houston Ship
Channel Inside FERC
Hi Eric,
Please find below the detailed terms of a possible deal that we have been
talking about during our phone conversation this morning.
Nature of deal : If the transaction takes place, Societe Generale would sell a
financial fixed price swap (flat price, not basis differential) to Enron. The
monthly settlement would be financial. There would not be any exchange of
physical product.
Period of the deal : June 1st, 2001 to January 31st, 2021.
Used Reference : Natural Gas-Houston Ship Channel Index Inside FERC , monthly
settlement.
Volumes of the financial swap transaction : Please find below the volumes
given
month by month in MMBTU.
(See attached file: volumes-10-5-01-for-Enron.xls)
Since there is a tiny chance that the deal trades today, could you please
check
if you have credit with SG for this period.
If not, could you find out how much time it approximately takes to get the
credit.
In terms of credit, SG is good with Enron for this period.
Thank you,
Alexander Werner
**************************************************************************
The information contained herein is confidential and is intended solely
for the addressee(s). It shall not be construed as a recommendation to
buy or sell any security. Any unauthorized access, use, reproduction,
disclosure or dissemination is prohibited.
Neither SOCIETE GENERALE nor any of its subsidiaries or affiliates
shall assume any legal liability or responsibility for any incorrect,
misleading or altered information contained herein.
**************************************************************************
**************************************************************************
The information contained herein is confidential and is intended solely
for the addressee(s). It shall not be construed as a recommendation to
buy or sell any security. Any unauthorized access, use, reproduction,
disclosure or dissemination is prohibited.
Neither SOCIETE GENERALE nor any of its subsidiaries or affiliates
shall assume any legal liability or responsibility for any incorrect,
misleading or altered information contained herein.
**************************************************************************
- volumes-10-5-01-for-Enron.xls
| ||
arnold-j/all_documents/654.
|
subject: Request For Additional Information
content: Thank you for requesting additional information on Creating Value Through
Financial Management.
You can download this information by going to the following link.
**If the link spans more than one line, please paste the entire link into
your browser window.**
http://wh-execed.wharton.upenn.edu/cfmtesting/prog_info.cfm?program=OE%20%20%2
DFM&pcode=51
| ||
arnold-j/all_documents/655.
|
subject: Re: reminder -pira dinner sund may 13 th 7.45 pm st regis
content: i think the velocity of the down move will be much less severe from here.
still dont think this is equilibrium. need to see aga coming in lower than
expectations for a couple weeks signaling that we've moved down the demand
curve. think a lot of spec shorts are looking to take profits as we get
close to the psychological 400 target. market needs producer selling to get
us through there. have seen some as williams is starting to hedge barrett :
hence the weakness in the back of the curve recently. still going lower but
it will be a tougher move from here.
From: Jennifer Fraser/ENRON@enronXgate on 05/09/2001 02:12 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: reminder -pira dinner sund may 13 th 7.45 pm st regis
what do you think now?
see you sunday
| ||
arnold-j/all_documents/656.
|
subject: RE:
content: maybe they're for more sophisticated palates
From: Kim Ward/ENRON@enronXgate on 05/09/2001 02:27 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
I pawned them off on my unsuspecting coworker - Phil. He liked them!!
-----Original Message-----
From: Arnold, John
Sent: Wednesday, May 09, 2001 2:27 PM
To: Ward, Kim S.
Subject: Re:
it's an aquired taste
From: Kim Ward/ENRON@enronXgate on 05/09/2001 02:25 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject:
those things are TERRIBLE!!!!
| ||
arnold-j/all_documents/657.
|
subject: Re:
content: Hot like wasabi when I bust rhymes
Big like Leann Rimes
Because I'm all about value
| ||
arnold-j/all_documents/658.
|
subject: Re:
content: it's an aquired taste
From: Kim Ward/ENRON@enronXgate on 05/09/2001 02:25 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject:
those things are TERRIBLE!!!!
| ||
arnold-j/all_documents/659.
|
subject: Suite at Enron Field
content: John:
Enron has a couple of suites reserved strictly for Enron use. Each one holds
21 people and the cost would be $2550 without food. If we needed another
suite then, Enron Field would charge us $100 per person as long as one of
their suites is available.
-Ina
| ||
arnold-j/all_documents/66.
|
subject: SNE / ENE
content: ---------------------- Forwarded by Trey Comiskey/HOU/EES on 12/11/2000 09:04
AM ---------------------------
Enron Energy Services
From: Trey Comiskey 12/11/2000 09:04 AM
Phone No: 713-853-6060
To: "Cooper, Kenneth" <[email protected]> @ ENRON
cc:
Subject: RE: Confidentiality Agreement
Good. I will FedEx two signed copies to you overnight. Please send one back
after executing.
How is the energy spend information gathering initiative progressing ?
"Cooper, Kenneth" <[email protected]> on 12/08/2000 04:49:45 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: RE: Confidentiality Agreement
Trey: Three years is acceptable. Ken
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, December 08, 2000 10:12 AM
To: [email protected]
Cc: Sean.O'[email protected]; [email protected]
Subject: Re: Confidentiality Agreement
Ken -
If we can change the term of confidentiality to 3 years (we proposed 1, you
proposed 5) then we are ready to accept all the changes, execute and move
on to the next steps.
Trey
"Cooper, Kenneth" <[email protected]> on 12/06/2000 03:37:42 PM
To: "'Trey Comiskey'" <[email protected]>
cc: "O'Brien, Sean" <Sean.O'[email protected]>
Subject: Confidentiality Agreement
Attached please find two files: one a redlined copy of the agreement and
the other a clean copy. Please let me know your comments. MaryAlice
Budakian, Esq. handled this for me. Her telephone number is
(201)930-7520.
<<Enron Confidentiality (redline).doc>> <<Enron Confidentiality (clean
copy).doc>>
(See attached file: Enron Confidentiality (redline).doc)
(See attached file: Enron Confidentiality (clean copy).doc)
| ||
arnold-j/all_documents/660.
|
subject:
content: i couldnt do it. it took 13 minutes for my alarm to wake me up.
| ||
arnold-j/all_documents/661.
|
subject: gas message board access
content: is there a password or just knowing the address
---------------------- Forwarded by John Arnold/HOU/ECT on 05/08/2001 05:08
PM ---------------------------
From: Alex Mcleish/ENRON@enronXgate on 05/08/2001 10:40 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: gas message board access
John, is access to the board on a password basis now? If so, when you get a
chance could you authorise access for myself and Andew Hill (a colleague in
crude fundamentals) please? A similar board for crude and products should be
ready within a couple of weeks. Thanks
Alex
| ||
arnold-j/all_documents/662.
|
subject: RE:
content: i'm just kidding. i'm getting a haircut from 530-600. i'll call you when i
get out.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 04:49 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
I guess that's fair - considering the deal you worked out with Dean.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 4:48 PM
To: Ward, Kim S.
Subject: RE:
you i guess.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 04:23 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
so who are the drinks on until I do ? . . . . .
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 2:25 PM
To: Ward, Kim S.
Subject: RE:
drinks on tickleknees if you do
From: Kim Ward/ENRON@enronXgate on 05/08/2001 02:03 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
you're killing me!!! I WILL close two of the three!!! and I predict that I
will make $500,000 - on two tiny little gas deals.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 2:04 PM
To: Ward, Kim S.
Subject: RE:
maybe we need a closer in that seat
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:56 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
he's a cheapskate - I am just sitting here on the edge of my seat with three
customers that won't pull the trigger!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:53 PM
To: Ward, Kim S.
Subject: RE:
how about we celebrate the near completion of your deal and have tickleless
pay for it.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:26 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
push the summer down about $.03-.04 so I can get one of my deals done and we
could celebrate!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:07 PM
To: Ward, Kim S.
Subject:
wanna get sauced after work?
| ||
arnold-j/all_documents/663.
|
subject: RE:
content: you i guess.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 04:23 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
so who are the drinks on until I do ? . . . . .
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 2:25 PM
To: Ward, Kim S.
Subject: RE:
drinks on tickleknees if you do
From: Kim Ward/ENRON@enronXgate on 05/08/2001 02:03 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
you're killing me!!! I WILL close two of the three!!! and I predict that I
will make $500,000 - on two tiny little gas deals.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 2:04 PM
To: Ward, Kim S.
Subject: RE:
maybe we need a closer in that seat
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:56 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
he's a cheapskate - I am just sitting here on the edge of my seat with three
customers that won't pull the trigger!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:53 PM
To: Ward, Kim S.
Subject: RE:
how about we celebrate the near completion of your deal and have tickleless
pay for it.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:26 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
push the summer down about $.03-.04 so I can get one of my deals done and we
could celebrate!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:07 PM
To: Ward, Kim S.
Subject:
wanna get sauced after work?
| ||
arnold-j/all_documents/664.
|
subject: RE:
content: drinks on tickleknees if you do
From: Kim Ward/ENRON@enronXgate on 05/08/2001 02:03 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
you're killing me!!! I WILL close two of the three!!! and I predict that I
will make $500,000 - on two tiny little gas deals.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 2:04 PM
To: Ward, Kim S.
Subject: RE:
maybe we need a closer in that seat
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:56 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
he's a cheapskate - I am just sitting here on the edge of my seat with three
customers that won't pull the trigger!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:53 PM
To: Ward, Kim S.
Subject: RE:
how about we celebrate the near completion of your deal and have tickleless
pay for it.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:26 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
push the summer down about $.03-.04 so I can get one of my deals done and we
could celebrate!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:07 PM
To: Ward, Kim S.
Subject:
wanna get sauced after work?
| ||
arnold-j/all_documents/665.
|
subject: RE:
content: maybe we need a closer in that seat
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:56 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
he's a cheapskate - I am just sitting here on the edge of my seat with three
customers that won't pull the trigger!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:53 PM
To: Ward, Kim S.
Subject: RE:
how about we celebrate the near completion of your deal and have tickleless
pay for it.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:26 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
push the summer down about $.03-.04 so I can get one of my deals done and we
could celebrate!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:07 PM
To: Ward, Kim S.
Subject:
wanna get sauced after work?
| ||
arnold-j/all_documents/666.
|
subject: RE:
content: how about we celebrate the near completion of your deal and have tickleless
pay for it.
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:26 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
push the summer down about $.03-.04 so I can get one of my deals done and we
could celebrate!
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:07 PM
To: Ward, Kim S.
Subject:
wanna get sauced after work?
| ||
arnold-j/all_documents/667.
|
subject: RE:
content: is that with or without two snoozes?
From: Kim Ward/ENRON@enronXgate on 05/08/2001 01:24 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
and get up at 5:07 a.m.?
-----Original Message-----
From: Arnold, John
Sent: Tuesday, May 08, 2001 1:07 PM
To: Ward, Kim S.
Subject:
wanna get sauced after work?
| ||
arnold-j/all_documents/668.
|
subject:
content: wanna get sauced after work?
| ||
arnold-j/all_documents/669.
|
subject:
content: John,
You might recall we spoke a few weeks ago about a system with more
intelligence for out-of-hours trading than just leaving the products on Last
Trade is Mid.
Attached is a suggestion for how such a system might work. It builds on
Offset to Last Trade functionality.
The simplified description is: It tracks two variables: Intensity(Speed) and
Bias (Buy or Sell emphasis). As Intensity increases, the Spread increases.
As Bias increases, the Offset increases.
I'll call later to see what you think of the idea.
Dave
Program Criteria
The formula which defines the trading decision-making program will need to
work with several criteria/inputs/definitions. These might be:
Intensity (Speed) - The average time between transaction attempts, regardless
of whether they are buys or sells. Measured as a moving average over the last
[Intensity Factor] transactions by comparing the timestamp of the transaction
Tibco messages for the Product.
Obviously, the lower the Intensity calculation, the higher the transaction
flow. Therefore a high Intensity number indicates low transaction flow.
Intensity Factor - The number of transactions to be included in the moving
average Intensity calculation. A possible value for this might be [4].
#Buys - The number of Buys which have occurred.
#Sells - The number of Sells which have occured.
Transaction Count - Could be either #Buys or #Sells (whichever last occured).}
Buy Offset - The Offset value which will be applied if a Buy occurs.
Sell Offset - The Offset value which will be applied if a Sell occurs.
Offset Reversion Ratio (ORR)- The amount by which the Buy Offset should be
reduced if a Sell occurs (or amount Sell Offset should be reduced if a Buy
occurs). A possible value for this might be [0.3]. If the application of the
ORR results in a reduction of less than 1, then the reduction shall be 1.
Transaction Reversion Ratio (TRR)- The amount by which #Buys should be
reduced if a Sell occurs (or amount #Sells should be reduced if a Buy
occurs). A possible value for this might be [0.3]. If the application of the
TRR results in a reduction of less than 1, then the reduction shall be equal
to 1.
Spread Minimum - The minimum Spread value allowed. A possible value for this
might be [0.04]
Spread Maximum - The maximum Spread value allowed. A possible value for this
might be [0.50]
Offset Minimum - The minimum Offset allowed for both Buys and Sells. A
possible value for this might be [0].
Offset Maximum -The maximum offset allowed for both Buys and Sells. A
possible value for this might be [0.50]
Initial Offset - The Buy and Sell Offset used when the program is started
Initial Spread - The Spread used when the program is started
Spread-Offset Minimum - The minimum amount by which Spread must exceed
Offset. Prevents a possible arbitrage opportunity for the customer. A
possible value for this might be [0.01]
Dead Interval - The period of time which must pass before the program will
recalculate the above Criteria, if no transactions have taken place during
the Dead Interval. A possible value for this might be [240] seconds.
Program Outputs
The program should output the following variables as a result of combining
the above Criteria in a user-defined Formula:
Spread (integer) - as per current Stack Manager
Offset (integer) - as per current Stack Manager
Suspension (boolean) - Whether or not the Product should be suspended.
Normally "False"
Program Interface and Operation Principles
The user should be provided with a GUI which will allow them to define a
relationship among the above Criteria, which will produce and apply the
Outputs to a particular Product. This relationship would be defined with
Intensity Formulas and Transaction Formulas.
Every time a Transaction occurs, or a Dead Interval passes, the Criteria will
be recalculated and the user-defined formulas will be reviewed by the
program. If a Dead Interval passes without any transactions taking place,
then Intensity = Intensity +240 and #Buys=#Buys-TRR and #Sells=#Sells-TRR and
Buy Offset = Buy Offset- ORR and Sell Offset = Sell Offset - ORR.
If the user-defined Formulas (see following) indicate that a change in spread
should occur, then if the Offset is zero (in the case of a trade occurring)
or if no trade has occured (during the passing of a Dead Interval), the
system shall perform a Last Trade is Mid calculation around the last
transaction, adjusting the buy and sell prices according to the new Spread
value.
Any adjustment to the Spread shall respect the Spread-Offset Minimum. If a
reduction in the Spread should violate the Spread-Offset Minimum, then the
Buy Offset (or Sell Offset, or both as appropriate) shall be reduced
accordingly. Similarly, if the Offset is increased by a Transaction Formula
to a level greater than the Spread, the Spread shall be increased to maintain
the Spread-Offset Minimum.
GUI/Formulas Example:
Constants
Intensity Factor: [4]
Dead Interval: [240]
Offset Reversion Ratio (ORR): [0.3]
Transaction Reversion Ratio (TRR): [0.3]
Spread Minimum [0.04]
Spread Maximum [0.50]
Offset Minimum [0]
Offset Maximum [0.49]
Spread-Offset Minimum [0.01]
INPUTS OUTPUTS
Intensity Formula
Formula # Intensity Spread Offset Suspension
S1 >220 -0.01 n/a F
S2 <30 +0.01 n/a F
S3 <10 +0.02 n/a F
Transaction Formula
Formula # # Transactions Spread Offset Suspension
V1 <4 n/a -0.01 F
V2 >3 n/a +0.01 F
V3 >5 +0.01 +0.02 F
V4 >10 +0.02 +0.04 F
V5 >15 +0.04 +0.15 F
V6 >20 n/a n/a T
Note that #Transactions would be #Buys or #Sells, as appropriate. Note also
that #Buys and #Sells are not intended to be an absolute count, but rather
are a moving measure of the number of buys or sells which have recently
occured.
In this example, all Constants and Formulae are editable by the user through
the GUI.
Simulation
Obviously, if we want to proceed, we will want to conduct several simulations
to prove concepts and evaluate responsiveness. However, to give some idea of
how the above might work when a market starts to run in a particular
direction, please see the attached:
Additional Features
System Notifications
There should be two kinds of notifications for the Robotrader, which will be
similar to Stack Manager Garbage Checks: Warning and Failure levels for both
Offset and Price. The warning levels will trigger a pager message. The
Failure levels will trigger a pager message and the product will be
automatically suspended. The Price checks will be against prices input by the
trader (not relative price movements, but actual price). There should be both
maximum and minimum price checks (e.g. gas is trading at $5.50. The
notification levels could be $8 at the top end and $2 at the bottom end).
Offset checks will only be against a maximum value.
Dave
| ||
arnold-j/all_documents/67.
|
subject: Continental/Enron meeting, December 12th, 1:30 - 2:30 PM.
content: This e-mail confirms the date, time, and location for the meeting between
Enron and Continental.
DATE: Tuesday, December 12th
TIME: 1:30-2:30 PM
LOCATION: Enron Building 50 M03
TOUR (gas trading floor EB 32 and Enron Online EB 27): 2:30-3:00 PM
The purpose for the December 12th meeting is to address three initiatives in
order of economic value: (1) fuel management, (2) weather derivatives, and
(3) plastics hedging -- VaR analysis.
| ||
arnold-j/all_documents/670.
|
subject: Re: RISK Magazine Interview
content: Jennifer:
I don't think we have much interest in doing this interview since it
primarily pertains to our views of the market. I would speak in such
generalities that it probably wouldn't be a good interview.
John
Jennifer Walker@ENRON
05/07/2001 08:57 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RISK Magazine Interview
John:
Kevin Foster with Risk Magazine is working on an article for the June issue
regarding Gas Markets in the U.S. Basically, he is interested in Enron's
opinion of:
1. Physical Supply/Demand of gas and how this is affecting financial trades
2. Where do we anticipate gas prices going over the summer?
3. The state of the industry--any major issues that may affect the market?
If this sounds like a story we would be interested in doing, please let me
know and I will coordinate a short phone interview with Kevin Foster. I know
it usually works best for your schedule to do this after 4pm, so please let
me know if Tuesday after 4 would be good for you.
Thanks for your help and please call me with any questions.
Jennifer Walker
Public Relations
x3-9964
| ||
arnold-j/all_documents/671.
|
subject: RE: you shudda been in vegas
content: that night i had so much brain damage i couldnt function.
as opposed to ????
"Lafontaine, Steve" <[email protected]> on 05/07/2001
06:29:44 AM
To: [email protected]
cc:
Subject: RE: you shudda been in vegas
was a great time-sat at bo collins dinner table spoke briefly. by that nite
i had so much brain damage i couldnt function.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Friday, May 04, 2001 11:31 AM
To: LaFontaine, Steve
Subject: Re: its never gonna break
your guys are probably seeing this as well, but, 50 cents higher our
customer biz was 95/5 from buy side. now it's 50/50. can almost smell
blood among the producers. only problem is trade is sooooo short they cant
see straight. were the market still not so fundamentally overvalued right
now i'd be looking for a 25 cent move up. just can't see that happening at
this level though.
********************Legal Disclaimer**************************
This email may contain confidential information and is
only for the use of the intended or named recipient. It
has been prepared solely for informational purposes
from sources believed to be reliable, and is not a
solicitation, commitment or offer. All information is
subject to change without notice, and is provided
without warranty as to its completeness or accuracy. If
you are not the intended recipient, you are hereby
notified that any review, dissemination, distribution,
copying or other use of this email and its attachments
(if any) is strictly prohibited and may be a violation of
law. If you have received this email in error, please
immediately delete this email and all copies of it from
your system (including any attachments), destroy any
hard copies of it, and notify the sender. Thank you.
| ||
arnold-j/all_documents/672.
|
subject: Re: ng
content: i guess i have to keep my 395 price target. just nothing bullish in the near
term except crude. and that's not enough now. need to get to a new price
regime to pick up more demand quickly.
From: Jennifer Fraser/ENRON@enronXgate on 05/06/2001 05:47 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: ng
what do you think this week and next 3 weeks-----june expiry 4.20?
-----Original Message-----
From: Arnold, John
Sent: Wednesday, April 25, 2001 7:00 PM
To: Fraser, Jennifer
Subject: Re: please fill in--i lost the scrap of paper
my numbers from mar 15. would raise jun-augy by 10 cents because of the
supportive weather we had from mar 15-apr 15
From: Jennifer Fraser/ENRON@enronXgate on 04/19/2001 01:17 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: please fill in--i lost the scrap of paper
arnold
May-01 455
Jun-01 395
Jul-01 370
Aug-01 350
Sep-01 350
Oct-01 360
Nov-01 360
Dec-01 325
Jan-02 280
Jen Fraser
Enron Global Markets Fundamentals
713-853-4759
| ||
arnold-j/all_documents/673.
|
subject: Re:
content: none
From: John J Lavorato/ENRON@enronXgate on 05/07/2001 07:46 AM
To: Phillip K Allen/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Harry
Arora/ENRON@enronXgate, Berney C Aucoin/HOU/ECT@ECT, Edward D
Baughman/ENRON@enronXgate, Tim Belden/ENRON@enronXgate, Christopher F
Calger/ENRON@enronXgate, Derek Davies/CAL/ECT@ECT, Mark Dana
Davis/HOU/ECT@ECT, Joseph Deffner/ENRON@enronXgate, Paul Devries/TOR/ECT@ECT,
W David Duran/HOU/ECT@ECT, Chris H Foster/ENRON@enronXgate, Chris
Gaskill/ENRON@enronXgate, Doug Gilbert-Smith/Corp/Enron@ENRON, Rogers
Herndon/HOU/ECT@ect, Ben Jacoby/HOU/ECT@ECT, Scott Josey/ENRON@enronXgate,
Kyle Kitagawa/CAL/ECT@ECT, Fred Lagrasta/ENRON@enronXgate, John J
Lavorato/ENRON@enronXgate, Eric LeDain/CAL/ECT@ECT, Laura
Luce/Corp/Enron@Enron, Thomas A Martin/ENRON@enronXgate, Jonathan
McKay/CAL/ECT@ECT, Ed McMichael/HOU/ECT@ECT, Don Miller/ENRON@enronXgate,
Michael L Miller/ENRON@enronXgate, Rob Milnthorp/CAL/ECT@ECT, Jean
Mrha/ENRON@enronXgate, Scott Neal/HOU/ECT@ECT, David Parquet/SF/ECT@ECT,
Kevin M Presto/HOU/ECT@ECT, Brian Redmond/ENRON@enronXgate, Hunter S
Shively/ENRON@enronXgate, Fletcher J Sturm/HOU/ECT@ECT, "Swerzbin, Mike"
<[email protected]>@SMTP@enronXgate, C John Thompson/ENRON@enronXgate,
Carl Tricoli/Corp/Enron@Enron, Barry Tycholiz/NA/Enron@ENRON, Frank W
Vickers/NA/Enron@Enron, Lloyd Will/HOU/ECT@ECT, Greg Wolfe/ENRON@enronXgate,
Max Yzaguirre/NA/Enron@ENRON, John Zufferli/CAL/ECT@ECT
cc:
Subject:
I asked everyone for their A/A needs and received very little feedback.
Please respond promptly.
Thanks
John
| ||
arnold-j/all_documents/674.
|
subject: Re: its never gonna break
content: your guys are probably seeing this as well, but, 50 cents higher our customer
biz was 95/5 from buy side. now it's 50/50. can almost smell blood among
the producers. only problem is trade is sooooo short they cant see
straight. were the market still not so fundamentally overvalued right now
i'd be looking for a 25 cent move up. just can't see that happening at this
level though.
| ||
arnold-j/all_documents/675.
|
subject: Re:
content: only if you promise to post regular updates on the trucking market.
call chris gaskill to get the password.
From: Matthew Arnold/ENRON@enronXgate on 05/04/2001 10:22 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject:
sign me up for the gas message board
| ||
arnold-j/all_documents/676.
|
subject: RE:
content: will see you there (most probably)
From: Kim Ward/ENRON@enronXgate on 05/04/2001 10:18 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE:
My floor looks good - now i just have to paint. Have fun in San Antonio.
Monday morning?
-----Original Message-----
From: Arnold, John
Sent: Friday, May 04, 2001 9:38 AM
To: Ward, Kim S.
Subject: Re:
i like that feeling...as long as someone doesnt punch you in the gut. i'm
going to san antonio at lunch today to play soccer so i just took the day
off. catching up on 2 weeks of email. i know how to relax don't i
From: Kim Ward/ENRON@enronXgate on 05/04/2001 09:34 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject:
Every single muscle in my stomach is sore.
| ||
arnold-j/all_documents/677.
|
subject: Re: Hi
content: Hey Adam:
sorry for the delay. just been very busy. congrats on joining enron. think
you made the right chioce. i would recommend structuring. it's a good way
to understand how enron works, how we look at and manage risk, and you get
close to the trading component. a friend of mine, ed mcmichael runs the gas
structuring group. try emiling him probably at [email protected]. keep in
touch,
john
"Bayer, Adam Ryan" <[email protected]> on 04/10/2001 03:06:34 PM
To: [email protected]
cc:
Subject: Hi
Hi John,
I hope your gas markets are moving nicely this week. Its
been a long time since we talked, but a lot has happened.
But the most important thing has been my decision to join
Enron. At this point, I am looking around for a rotation,
and I have received a lot of advice pointing me towards
Gas/Power Structuring and RAC rotations. I am wondering if
you know some people in these areas who might be looking
for analysts. I have heard that traders work closely with
the structured finance and RAC guys, true? If you have
time please let me know if you know of anything.
Thanks,
Adam Bayer
| ||
arnold-j/all_documents/678.
|
subject: Re: <<Concur Expense Document>> - Quigley050401
content: this is my idea of vacation...
| ||
arnold-j/all_documents/679.
|
subject: Re: Fimat (Soc Gen Line)
content: yes i will
From: Sarah Wesner/ENRON@enronXgate on 05/04/2001 09:50 AM
To: John Arnold/HOU/ECT@ECT
cc: Joseph Deffner/ENRON@enronXgate
Subject: Fimat (Soc Gen Line)
John - I got a call from Warren Tashnek today. He is concerned about the
usage of the Fimat line because the trading volume is not covering its
costs. He wanted to know how to increase business with Enron. I referred
him to you. As you know, he is so nice and not trying to start a fight with
us but needs more trades to justify the cost of the line. Will you please
address this with him?
Thanks, Sarah
| ||
arnold-j/all_documents/68.
|
subject: Product Quotes and Software License Agreement (BMC / EBS info)
content: Jennifer and Peter, welcome back...!
Attached are the notes from the EBS team and BMC organization regarding the
proposals to EBS and Net Works (etc.) from BMC.
I am curious, Peter (or Glenn), if it is reasonable of BMC to make the
statement to the effect that, "...the 45% discount is applied only if
we have the EBS Enron Partnership agreement in place...". Is that cutting it
close on the restraint of trade issue?
Bob McAuliffe has informed me in a note that if his people (Matson & Cumming)
choose the BMC product at testing conclusion, he would support their
decision. Smith and Ogg have given "no go" indications. I have received
that information from Bruce Smith in a telephone conversation, but Jim Ogg's
lack of communication with me is what I have used to draw a similar
conclusion for his situation...
BMC and EBS both, I believe, are wanting GSS to do the contract work for this
deal. It is my understanding, Peter, that the timing of that request might
be a problem for your guys...Perhaps we should have a quick, informal pow-wow
about this?
Thanks,
Jeff
----- Forwarded by Jeff Youngflesh/NA/Enron on 12/11/2000 09:08 AM -----
Stephen Morse@ENRON COMMUNICATIONS
12/07/2000 05:55 PM
To: Jeff Youngflesh/NA/Enron@ENRON
cc: Chaz Vaughan/Enron Communications@Enron Communications
Subject: Product Quotes and Software License Agreement
Jeff,
Attached are all the outstanding deal proposals from BMC. Lets push for some
addl discounts so we can get each of these guys a "win". I have asked our
BMC contacts to reduce these quotes already due to our partnership but I am
sure you know how to handle this best.
We need your help Jeff, we cant do it without you.
Thanks,
STeve
Steve Morse
Enron Broadband Services
713-853-7137-work
713-569-7912-cell
email: [email protected]
----- Forwarded by Stephen Morse/Enron Communications on 12/07/00 05:55 PM
-----
[email protected]
12/07/00 10:13 AM
To: Stephen Morse/Enron Communications@Enron Communications
cc: Chaz Vaughan/Enron Communications@Enron Communications,
[email protected]
Subject: Product Quotes and Software License Agreement
Hi Steve,
It was nice talking to you. Included here are the Product quotes that we
sent to the groups. The Incontrol has multiple spreadsheets for Bruce
Smith's projects. Real Media is for Everett. The other two are self
explanatory.
The concern that we have is that there is still not a quote for Jim Ogg and
therefore it is not a quantified amount for the deal we're doing together.
That is significant because it effects discounts, volume, and certainly the
more BMC product that Enron targets the better for this deal.
As mentioned in the phone call, I'll send you a soft copy of the Enron Corp
(which includes EBS) software license agreement with BMC if I can get it for
you. Otherwise it will be a hard copy when you come over today. It
includes the terms of liability, warranty, etc.
I look forward to seeing you today.
Best regards,
Ann
<<Enron RealMedia KM Order 2.xls>> <<Enron - Doug Cummins team.xls>>
<<Enron - Randy Matson team.xls>> <<Enron INCONTROL Product Order Form
11-28-00.xls>>
Ann M. Munson
Senior Sales Representative
BMC Software
713-918-4569 Direct
713-918-8001 Fax
[email protected]
- Enron RealMedia KM Order 2.xls
- Enron - Doug Cummins team.xls
- Enron - Randy Matson team.xls
- Enron INCONTROL Product Order Form 11-28-00.xls
----- Forwarded by Jeff Youngflesh/NA/Enron on 12/11/2000 09:08 AM -----
"Munson, Ann" <[email protected]>
12/08/2000 02:46 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Goicoechea, Bernie"
<[email protected]>
Subject: The EBS Enron agreement
Hi Jeff,
I hope you are doing well. There have been some interesting developments on
the way to the Enron Broadband/BMC agreement since we last spoke.
Apparently, it is extremely important to Jim Crowder to get this agreement
in place by December 15. As a result of the conversation between Jim
Crowder and Jeff Hawn, BMC Exec., I have been directed to help Steve Morse
and Chaz Vaughan in leveraging the best deal possible for the various
projects that Enron is considering with BMC. As you are aware, we have
already proposed several individual deals. In addition to those we are
including some deals in which there has been an expressed interest so that
Enron can take advantage of the pricing that this partnership will bring to
you.
The purpose of this e-mail is to give you a heads up on the acceleration of
timing that we have been directed to work towards and to let you know that
we have already agreed to bring our price down in order to make the price
more attractive to Enron. We would very much appreciate your help in
expediting the process of bringing this agreement to closure. In my next
e-mail I will send you a list of all the outstanding BMC proposals to Enron.
Best regards,
Ann M. Munson
Senior Sales Representative
BMC Software
713-918-4569 Direct
713-918-8001 Fax
[email protected]
----- Forwarded by Jeff Youngflesh/NA/Enron on 12/11/2000 09:08 AM -----
"Munson, Ann" <[email protected]>
12/08/2000 03:34 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Goicoechea, Bernie"
<[email protected]>
Subject: BMC Projects at Enron
Hi Jeff,
Here's the attachments I told you that I would send you. The Incontrol
contains two spreadsheets.
<<Enron - Doug Cummins team.xls>> <<Enron - Randy Matson team.xls>>
<<Enron - Ogg's DBs.xls>> <<Enron INCONTROL Products.xls>> <<Enron
Wholesale UNIX - Storage.xls>> <<EBS-Storage1.doc>> <<Enron RealMedia KM
Order 2.xls>>
Taker care,
Ann M. Munson
Senior Sales Representative
BMC Software
713-918-4569 Direct
713-918-8001 Fax
[email protected]
- Enron - Doug Cummins team.xls
- Enron - Randy Matson team.xls
- Enron - Ogg's DBs.xls
- Enron INCONTROL Products.xls
- Enron Wholesale UNIX - Storage.xls
- EBS-Storage1.doc
- Enron RealMedia KM Order 2.xls
----- Forwarded by Jeff Youngflesh/NA/Enron on 12/11/2000 09:08 AM -----
"Munson, Ann" <[email protected]>
12/08/2000 05:36 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>, "Goicoechea, Bernie"
<[email protected]>
Subject: Application of the Discount
Hi Jeff,
I'm sure you already realize this, but for the sake of clarification, it's
important to make sure that I state that the 45% discount is applied only if
we have the EBS Enron Partnership agreement in place.
Best regards,
Ann
Ann M. Munson
Senior Sales Representative
BMC Software
713-918-4569 Direct
713-918-8001 Fax
[email protected]
----- Forwarded by Jeff Youngflesh/NA/Enron on 12/11/2000 09:08 AM -----
"Munson, Ann" <[email protected]>
12/08/2000 05:55 PM
To: "'[email protected]'" <[email protected]>
cc: "'[email protected]'" <[email protected]>,
"'[email protected]'" <[email protected]>
Subject: Please Use this Attachment...
....to replace the Word Document that I sent you previously. As per my
voice mail to you.
<<EBS Backoffice - Storage.xls>>
Ann M. Munson
Senior Sales Representative
BMC Software
713-918-4569 Direct
713-918-8001 Fax
[email protected]
- EBS Backoffice - Storage.xls
| ||
arnold-j/all_documents/680.
|
subject: option candlesticks technical paper
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 05/04/2001 09:40
AM ---------------------------
[email protected] on 05/04/2001 09:31:27 AM
To: [email protected]
cc:
Subject: option candlesticks technical paper
Several people have asked how to read the Carr Futures option candlestick
charts.
Attached is a research note discussing tracking and trading option
volatility.
(See attached file: Tracking and Trading Nat Gas Vols.pdf)
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
- Tracking and Trading Nat Gas Vols.pdf
| ||
arnold-j/all_documents/681.
|
subject: <<Concur Expense Document>> - Quigley050401
content: do you know what my user id and password are?
---------------------- Forwarded by John Arnold/HOU/ECT on 05/04/2001 09:33
AM ---------------------------
[email protected] on 05/04/2001 10:37:18 AM
To: "[email protected]" <[email protected]>
cc:
Subject: <<Concur Expense Document>> - Quigley050401
The following expense report is ready for approval:
Employee Name: Henry Quigley
Status last changed by: Automated Administrator
Expense Report Name: Quigley050401
Report Total: $107.45
Amount Due Employee: $107.45
To approve this expense report, click on the following link for Concur
Expense.
http://xms.enron.com
| ||
arnold-j/all_documents/682.
|
subject: Re:
content: i like that feeling...as long as someone doesnt punch you in the gut. i'm
going to san antonio at lunch today to play soccer so i just took the day
off. catching up on 2 weeks of email. i know how to relax don't i
From: Kim Ward/ENRON@enronXgate on 05/04/2001 09:34 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject:
Every single muscle in my stomach is sore.
| ||
arnold-j/all_documents/683.
|
subject: Re:
content: absolutely...though i'm not sure how you do it. call chris gaskill and he
should be abl to help.
From: Kevin McGowan/ENRON@enronXgate on 05/04/2001 09:33 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject:
John,
Could I get access to the gas message board?
KJM
| ||
arnold-j/all_documents/684.
|
subject: Vandy Team - Get Together
content: Kristin Gandy has sent you an Evite Invite!
To view your Invite, simply click the following Web address:
http://evite.citysearch.com/r?iid=EWFPZQLYXVCWYUZGPPNX
This Evite Invite is covered by Evite's privacy policy*.
To view this privacy policy, click here:
http://evite.citysearch.com/privacy
********************************
Workin' for the weekend? - With only two days to call your
own, you've got to make them count. The Citysearch Weekend Guide makes
workin' for the weekend worth it.
http://weekend.citysearch.com?cslink=nsltr-evite-invite
Need some help? See below!
*********************************
Perhaps your E-mail program doesn't recognize the Web address as an active
link. No problem! You can copy and paste the Web address into your Web
browser.
Here are instructions on how to copy and paste:
a. With your mouse, highlight the *entire* Web address above
b. Select the EDIT menu and choose COPY
c. Go to your Web browser and *click inside* the window where
you normally type a Web address to visit
d. Select the EDIT menu and choose PASTE
e. Now hit ENTER on your keyboard to take you to the Web address
It's that easy! :-)
If you would like further assistance, we're happy to help - please send
E-mail to [email protected]
* Updated 01/09/01.
| ||
arnold-j/all_documents/685.
|
subject:
content: Hello everyone.
In December we decided to kill our planned offsite due to market volatility.
Louise and I would like to get everyone together offsite, probably in late
June (once Louise is back from holiday (just kidding)). I think it's time to
go have a little fun with the group driving Enron's success.
I would like suggestions as to:
1) Where to go.
2) What should be the focus of the business meetings.
3) Should we have business meetings or should we do something else (ie.
climb a mountain)? I'm not a strong bid on climbing a mountain.
4) And any other ideas you have.
In addition I would like to start having staff meetings about once a month.
The first one will be Friday May 11th at 2:30 p.m. Please add this to your
schedule. I have invited everyone who has P/L responsibility. Portland,
Calgary and Toronto will have to be on Video or Phone conference.
Regards
John
| ||
arnold-j/all_documents/686.
|
subject:
content: Jeff:
To explain the P&L of -349,000 :
We executed the trade when you gave the order (the delta anyway), first thing
in the morning. The market rallied 8 cents from the morning, with the back
rallying about 2.5 cents. On 904 PV contracts, curve shift was -226,000.
The balance, $123,000, is almost exactly $.01 bid/mid, which I think is
pretty fair considering the tenor of the deal and that it included price and
vol. Cal 3 straddles, for instance, are $1.39 / $1.45.
Looking out for you bubbeh:
John
| ||
arnold-j/all_documents/687.
|
subject: Vol Skew No-Arbitrage Constraints
content: The attached note lists conditions that can be used to verify that a given
vol skew curve does not generate arbitrage opportunities in a strip of option
prices.
If you have questions or want to discuss implementation, please give me a
call.
Bob Lee
x35163
| ||
arnold-j/all_documents/688.
|
subject: Re:
content: Following are the working transactions in the Central Region/Gas that include
utility/producer outsourcing:
3rd Quarter
Peoples Energy Production Company
PEPC is a wholly owned subsidiary of Peoples Energy/Chicago. Transaction
consists of back-office, risk management and production management for their
Production company. Currently performing due diligence and will be making
proposal (in conjunction with Jean Mrha's group). Total volume of 30,000
MMbtu/d oil/gas equivalent for 3 years. 50% probability for closure.
4th Quarter
MGU-Michigan Gas Utilities
MGU is wholly owned subsidiary of Utilicorp. Transaction is a complete
outsourcing for the utility (28 BCF/year) for a term of 3 years beginning
October 2001. MGU will choose a singular counter-party to proceed to
structure/negotiations in the next few weeks. We have received very positive
feedback from MGU and place our success rate at > 50%. Original transaction
priced as Michigan Index trade, but effort was to determine their choice
counterparty. Initial indications are that the final structure will consist
of a basket of index Daily/FOM and fixed price. Russell Murrell and I have
been working closely with the decision makers at MGU to ensure success.
SEMCO (Project Pluto)
Utility based in Port Huron, Michigan with sales load of approximately 37
BCF/year. Portfolio currently outsourced to TransCanada (4/1/1999-3/31/2002)
and has been extremely beneficial to SEMCO. TransCanada (See Gas Daily
4/30/01) currently holds all fixed priced risk for load following and
management at around $3.60 and SEMCO was the only Michigan utility who
effectively managed the arrangements the Michigan utilities negotiated with
their commission. Bids are due in August and a counterparty will be chosen
3rd/4th quarter 2001 for a 3 year transaction commencing 4/1/2002. Visited
their office with Sylvia Pollan on 4/11 and our risk is removing the
incumbent, TransCanada. SEMCO will be proposing a fixed price structure to
Michigan commission.
On MGU and SEMCO, the Michigan commission will play a significant role in
dictating final structures. If Enron is not successful, these utilities will
be managed by other 3rd parties and we will keep you abreast of structure
outcomes.
Thanx,
Laura
John J Lavorato/ENRON@enronXgate
04/25/2001 05:48 PM
To: Jean Mrha/ENRON@enronXgate, Barry Tycholiz/NA/Enron@ENRON, Frank W
Vickers/NA/Enron@Enron, Laura Luce/Corp/Enron@Enron
cc: John Arnold/HOU/ECT@ECT
Subject:
John Aronld was curious about the outsourcing deals we were pursuing. Could
you please update him on the deals we are getting close on.
John
| ||
arnold-j/all_documents/689.
|
subject: Re: No Cracks
content: almost forgot about you....
will take care of . we'll keep you guys together close to the traders.
From: Mike A Roberts 05/01/2001 09:48 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: No Cracks
Johnny,
Please don't let my group fall through the cracks!
We'd like to be as close to your desk in the new building as possible (8
seats)
unless you think we should focus on one of the geographical desks
- Mike
| ||
arnold-j/all_documents/69.
|
subject: Invitation: Doug Bloss- Armstrong 3AC 18C1 (Dec 13 01:00 PM CST)
content: Meeting w/Armstrong Services to see what opportunities are available to enter
into a joint capital venture percentage for mutually beneficial partnership.
| ||
arnold-j/all_documents/690.
|
subject: Re: Please respond
content: no
[email protected] on 05/01/2001 11:44:40 AM
To: [email protected]
cc:
Subject: Please respond
Carr is hosting an enymex presentation at our office in New York this
Monday, May 7th from 2-4 PM. We are double checking our head count to make
sure that we will be ready for the people attending the presentation.
If you would, please reply to this email with a yes or a no to indicate
your intentions of attending this enymex presentation.
Thank you.
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
| ||
arnold-j/all_documents/691.
|
subject: option candlesticks as a hot link
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 05/01/2001 08:10
AM ---------------------------
[email protected] on 05/01/2001 07:51:18 AM
To: [email protected]
cc:
Subject: option candlesticks as a hot link
The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete. Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein. Any
opinions expressed herein are solely those of the author. As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates. , 2001 Carr Futures
The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.
Option Candlesticks
http://www.carrfut.com/research/Energy1/candlesticks48.pdf
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
| ||
arnold-j/all_documents/692.
|
subject:
content: Stranger:
Any interest in getting a drink or dinner Tuesday? havent seen you in
forever.
| ||
arnold-j/all_documents/693.
|
subject: RE: Your note
content: my email as far as i know is [email protected]. not on msn though.
i made space for your 8 people as well as ferries, roberts, and the other
person (??) you requested. Come down tomorrow and i'll show you the layout
again.
john
From: Jean Mrha/ENRON@enronXgate on 04/30/2001 08:34 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: RE: Your note
Arnold,
I am trying to talk via MSN messenger service and it will not accept
[email protected] or any other reasonable email path. What is your official
email path? I am assuming that you are using Outlook. I am here at work
trying to close a deal.
I will forward your message to Grass, but I want to visually see the layout
of the floor. I will end up having spots on five and six. Also, Nelson
Ferries' and Linda Roberts' location are very important to the
Wellhead/Ecommerce effort. And yes, John will need room to grow.
What did you think of the article?
Mrha
-----Original Message-----
From: Arnold, John
Sent: Monday, April 30, 2001 8:23 PM
To: Mrha, Jean
Subject:
Jean:
I think the location i talked about before is actually better for you. The
area towards the edge of the building borders the northeast gas group,
long-term originators, and mid-market orig group. not exactly who you need
to be around. the location in the center is much closer to the east gulf
group, specifically sandra, and the same distance to the central and texas
trading groups. most importantly, it provides room for both your group and
the trading group to expand. call me if you want to talk further....
thanks for the article.
john
| ||
arnold-j/all_documents/694.
|
subject: Advisory invoice
content: can you take care of this...
---------------------- Forwarded by John Arnold/HOU/ECT on 04/30/2001 08:26
PM ---------------------------
"Mark Sagel" <[email protected]> on 04/27/2001 10:14:42 AM
To: "John Arnold" <[email protected]>
cc:
Subject: Advisory invoice
John:
?
Attached is the invoice covering the current period.
?
Hope all is well. No changes on analysis.? Market will have occasional
rallies (not significant) but all evidence shows lower levels to be seen.?
Most bearish case shows decline until late May or first two weeks of June.?
Prices from 420 - 380.
- invoice enron 9943.doc
| ||
arnold-j/all_documents/695.
|
subject:
content: Jean:
I think the location i talked about before is actually better for you. The
area towards the edge of the building borders the northeast gas group,
long-term originators, and mid-market orig group. not exactly who you need
to be around. the location in the center is much closer to the east gulf
group, specifically sandra, and the same distance to the central and texas
trading groups. most importantly, it provides room for both your group and
the trading group to expand. call me if you want to talk further....
thanks for the article.
john
| ||
arnold-j/all_documents/696.
|
subject: Re: March 2001/1Q 2001 Reporting Package
content: would like to meet to review to make sure i understand. may only take a
couple minutes. are you free at 330 on tuesday?
From: Edie Leschber/ENRON@enronXgate on 04/30/2001 10:28 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: March 2001/1Q 2001 Reporting Package
John,
I have the reporting package for March 2001 and 1Q 2001 for the Financial
Team for you.
Would you like to meet to review or would you prefer that I just deliver it
to you for your review?
Thank you,
Edie Leschber
X30669
| ||
arnold-j/all_documents/697.
|
subject: Re: pulaski
content: remind jim how the h/j/k spread acted this year. granted it won't behave
that way again until close to expiry, but i like the j/k outright much moreso
than the condor.
Caroline Abramo@ENRON
04/30/2001 12:24 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: pulaski
---------------------- Forwarded by Caroline Abramo/Corp/Enron on 04/30/2001
01:23 PM ---------------------------
Jim Pulaski <[email protected]> on 04/30/2001 12:17:09 PM
To: "Caroline. Abramo (E-mail)" <[email protected]>
cc:
Subject:
btw, that wasnt me buying the f-g/j-k on friday at 4
| ||
arnold-j/all_documents/698.
|
subject: natural update
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 04/30/2001 09:30
AM ---------------------------
"Mark Sagel" <[email protected]> on 04/29/2001 06:50:29 PM
To: "John Arnold" <[email protected]>
cc:
Subject: natural update
Latest comments FYI
- ng042901.doc
| ||
arnold-j/all_documents/699.
|
subject: Re:
content: John,
Her name is Erin E. McGarry. Her number is 305-674-5774. She is the direct
contact that Becky has been using.
-Ina
John Arnold
04/29/2001 07:45 PM
To: Ina Rangel/HOU/ECT@ECT
cc:
Subject:
can you get me the number of our contact at the Delano. I have a personal
favor to ask them.
john
| ||
arnold-j/all_documents/7.
|
subject: Re: SAP Update
content: Hi All,
I think we should play hard ball with these guys. They want a great deal
more business, and we are going to have to see something in return for us to
pull this trigger this year or early next year. Lets have them help us find
opportunity. Also - Gary's idea of longer term is a good one. Especially
for a company of this size.
Re Rex, all BW deals go through EBS so we are accountable for the BW
opportunity.
Couple things
1. Dale/Patrick - can you guys please get involved here. Gary has done a
good job bringing in a live deal. We need some focus to make it happen.
2. Paula - can you please setup a conf call for Thurs, 11/30, morn. Gary,
Jennifer S, Dale, Tucker, and myself should be on the call.
Thanks!
MH
Jennifer Stewart@ENRON
11/29/00 05:11 AM
To: Gary Waxman/Enron Communications@ENRON COMMUNICATIONS
cc: Matt Harris/Enron Communications@Enron Communications
Subject: Re: SAP Update
Gary,
On the Rex issue, I think that we need to talk to him. I am under the
impression that he does not get compensated for broadband but I might be
wrong.
Jennifer Stewart Medcalf
Senior Director, Business Development
Global Strategic Sourcing
(713) 646-8235
Gary Waxman@ENRON COMMUNICATIONS
11/28/2000 07:05 PM
To: Matt Harris/Enron Communications@Enron Communications, Jennifer
Stewart/NA/Enron@ENRON
cc:
Subject: SAP Update
Spoke with Curtis today:
- he is still waiting for Dietmar to provide us the international cities etc
so that we can size the opportunity
- reiterated what we learned on the call -- their is no storage opporunity
since they self-serve
- told him we doubted that their network is at 60-70% utilization and there
may be some intermediation opp yet to be discovered
- we talked extensively about EBS' concern that the size of this deal appears
small, my comment was that we can create a larger deal by extending the terms
to 10-years (or something greater than 2 years) with bi-annual renewals, this
also ensures the two companies pro-actively work with each other
- Curits keeps asking me about deal size and I stated that if we don't get
specific requirements from SAP we can not place a value on the deal so there
is no use trying to pull a number out of thin air.
- Curtis asked about Rex and whether he gets comped for broadband - he is
concerned about cutting Rex out since they were his first contact, I need
help on this -- Anyone?
Bottom Line - ball is in their court to provide us details so we can take
something to structuring and size the opportunity.
-------------------------------------------------------------
Gary Waxman
Director, Enterprise Group
Enron Broadband Services
2100 SW River Parkway
Portland, OR 97201
Mobile: 503-807-8923
Desk: 503-886-0196
Fax: 503-886-0441
-------------------------------------------------------------
| ||
arnold-j/all_documents/70.
|
subject: Dell and Continental Status
content: After our meeting with Dell on 10/27, I sent a request to Charlie Ball (works
for Kip) for detailed power data from TXU. Charlie delegated the task of
getting this data to Randy Don Carlos, who has yet to return any of my calls
to update the status of the request.
Charlie Ball left me a message this morning indicating that Randy Don Carlos
was leaving Dell at the end of the month. He indicated that he will get the
information to me as soon as he can. I'm not sure, but it seems that no one
has sent the request to TXU yet. TXU generally will send out data within 1-2
weeks of a request. It has now been 6 weeks since we asked Dell for the data.
Assuming Charlie actually gets someone to send the data request to TXU, we
should get something by the end of the year.
Similarly, Continental has not yet sent over data that they were to request
from HL&P. I talked with someone in Mark's group on 12/4, and she indicated
that they had the data, but their real estate group wanted to review it
before they sent it to us. On this one also, it is unlikely that any
transaction will get done in this calendar year.
Please call if you have any questions.
| ||
arnold-j/all_documents/700.
|
subject:
content: can you get me the number of our contact at the Delano. I have a personal
favor to ask them.
john
| ||
arnold-j/all_documents/701.
|
subject:
content: pookie:
check this out:
www.sailmainecoast.com/index.html
| ||
arnold-j/all_documents/702.
|
subject:
content: 212 836 5030
| ||
arnold-j/all_documents/703.
|
subject:
content: kimberly:
any interest in accompanying me to maggi's bd party sat nite?
| ||
arnold-j/all_documents/704.
|
subject: Outsourcing Deals
content: Arnold,
John Grass and myself would be happy to update you on the status of Enron's
Producer One deals. In addition to the three deals listed below, we have a
substantial "pipeline" of transactions that are being evaluated and are in
different stages. Besides John Grass, our distribution channels for producer
ecommerce deals are driven by Producer Services (Gary Bryan, Jill Zivley,
Linda Roberts and Jennifer Martinez), Nelson Ferries, Production Offshore as
well as ECR. Enron has just recently completed a nine city road show
targeting the producer community.
John Grass is also managing the Wellhead desk.
Regards, Mrha
-----Original Message-----
From: Grass, John
Sent: Thursday, April 26, 2001 12:58 PM
To: Mrha, Jean
Subject: RE:
We are close to closing the following deals.
Ocean Energy - 400,000 MMBtu/d, Duke has the supply until October 2001
Peoples Energy Production - 30,000 MMBtu/d, Highland has the supply for 60 to
90 days after close.
Andex - 30,000 MMBtu/d, ENA upstream will get the supply 60 to 90 days after
close.
-----Original Message-----
From: Mrha, Jean
Sent: Thursday, April 26, 2001 9:38 AM
To: Grass, John
Subject: FW:
We should talk about this.
-----Original Message-----
From: Lavorato, John
Sent: Wednesday, April 25, 2001 5:49 PM
To: Mrha, Jean; Tycholiz, Barry; Vickers, Frank; Luce, Laura
Cc: Arnold, John
Subject:
John Aronld was curious about the outsourcing deals we were pursuing. Could
you please update him on the deals we are getting close on.
John
| ||
arnold-j/all_documents/705.
|
subject: Re: PIRA
content: sure
From: Jennifer Fraser/ENRON@enronXgate on 04/26/2001 10:37 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: PIRA
They are coming in Sunday night obviously ( the 13th of May)
We may do a dinner around 8pm -- if this is a yes --are you in you? wanna
pick their brains with a one on one?
Jen Fraser
Enron Global Markets Fundamentals
713-853-4759
| ||
arnold-j/all_documents/706.
|
subject: RE: Receipt of Hedge Fund Information
content: may be looking to sell some naked calls soon. can you check that i would be
approved to sell 200 of either 65 or 70's expiring somewhere between jul-jan.
also, if i sell naked calls with a tenor of more than one year that expire
worthless, do the gains get counted as LT cap gains?
| ||
arnold-j/all_documents/707.
|
subject: Re: LNG
content: sure, how about thursday at 3:30? would like to get update on ENE's lng
projects as well.
Jonathan Whitehead @ ENRON 04/24/2001 07:28 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: LNG
John, I have just arrived in Houston, and will be running the LNG Trading &
Shipping business. I worked for Louise for many years, and took over the
European Gas business from her when she came over here a few years ago. I'd
like to meet you and discuss a few issues. Do you have any time over the next
few days?
Thanks,
Jonathan
| ||
arnold-j/all_documents/708.
|
subject: Re: please fill in--i lost the scrap of paper
content: my numbers from mar 15. would raise jun-augy by 10 cents because of the
supportive weather we had from mar 15-apr 15
From: Jennifer Fraser/ENRON@enronXgate on 04/19/2001 01:17 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: please fill in--i lost the scrap of paper
arnold
May-01 455
Jun-01 395
Jul-01 370
Aug-01 350
Sep-01 350
Oct-01 360
Nov-01 360
Dec-01 325
Jan-02 280
Jen Fraser
Enron Global Markets Fundamentals
713-853-4759
| ||
arnold-j/all_documents/709.
|
subject: Re: PIRA Global Oil and Natural Outlooks- Save these dates.
content: are we first? if not, when does the road show start and/or when does the
basic theme get distributed around the industry?
From: Jennifer Fraser/ENRON@enronXgate on 04/20/2001 09:10 AM
To: Cathy Phillips/HOU/ECT@ECT, Mark Frevert/ENRON@enronXgate, Mike
McConnell/HOU/ECT@ECT, Jeffrey A Shankman/ENRON@enronXgate, Doug
Arnell/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Alan Aronowitz/HOU/ECT@ECT,
Pierre Aury/LON/ECT@ECT, Sally Beck/HOU/ECT@ECT, Rick
Bergsieker/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stephen H
Douglas/ENRON@enronXgate, Shanna Funkhouser/ENRON@enronXgate, Eric
Gonzales/LON/ECT@ECT, Gary Hickerson/HOU/ECT@ECT, Vince J
Kaminski/HOU/ECT@ECT, Larry Lawyer/ENRON@enronXgate, Chris
Mahoney/LON/ECT@ECT, George Mcclellan/ENRON@enronXgate, Thomas
Myers/ENRON@enronXgate, John L Nowlan/HOU/ECT@ECT, Beth
Perlman/ENRON@enronXgate, Brent A Price/ENRON@enronXgate, Daniel
Reck/ENRON@enronXgate, Cindy Skinner/ENRON@enronXgate, Stuart
Staley/LON/ECT@ECT, Mark Tawney/ENRON@enronXgate, Scott
Tholan/ENRON@enronXgate, Lisa Yoho/NA/Enron@Enron, Neil
Davies/ENRON@enronXgate, Per Sekse/NY/ECT@ECT, Stephen H
Douglas/ENRON@enronXgate, Scott Vonderheide/Corp/Enron@ENRON, Jonathan
Whitehead/AP/Enron@Enron, Michael K Patrick/ENRON@enronXgate, Chris
Gaskill/ENRON@enronXgate, John Arnold/HOU/ECT@ECT
cc: Nicki Daw/ENRON@enronXgate, Jennifer Burns/ENRON@enronXgate, DeMonica
Lipscomb/ENRON@enronXgate, Yvonne Francois/ENRON@enronXgate, Angie
Collins/ENRON@enronXgate, Donna Baker/ENRON@enronXgate, Helen Marie
Taylor/HOU/ECT@ECT, Chantelle Villanueva/ENRON@enronXgate, Betty J
Coneway/ENRON@enronXgate, Patti Thompson/HOU/ECT@ECT, Cherylene
Westbrook/ENRON@enronXgate, Candace Parker/LON/ECT@ECT, Sharon
Purswell/ENRON@enronXgate, Gloria Solis/ENRON@enronXgate, Brenda J
Johnston/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Susan McCarthy/LON/ECT@ECT,
Paula Forsyth/ENRON@enronXgate, Shirley Crenshaw/HOU/ECT@ECT, Kathleen D
Hardeman/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Stuart
Cichosz/ENRON@enronXgate, Judy Zoch/NA/Enron@ENRON, Sunita
Katyal/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Cherry Mont/NY/ECT@ECT, Lydia
Reeves/HOU/ECT@ECT, Kristy Armstrong/ENRON@enronXgate, Nita
Garcia/NA/Enron@Enron, Christina Brandli/ENRON@enronXgate, Yolanda
Martinez/Corp/Enron@ENRON, Michele Beffer/ENRON@enronXgate, Shimira
Jackson/ENRON@enronXgate
Subject: PIRA Global Oil and Natural Outlooks- Save these dates.
PIRA is coming in May to do their semi-annual energy outlook.
Greg Shuttlesworth- North American Natural Gas --- May 14th 3-5 pm (30 C1)
? New Production Outlook
? Price Direction
? Demand Fundamentals
Dr. Gary Ross - World Oil Outlook --- May 16th 7-8:30 am --32C2
? OIl/ Demand/ supply Outlook
? Regional balances
? OPEC Rhetoric
Jen Fraser
34759
| ||
arnold-j/all_documents/71.
|
subject: Spending Reports 99/00 OEC Central Purchasing
content: Jennifer & Shirley Jo
As per our earlier conversations, Jim Kirkpatrick (buyer) and I formulated
the attached two (2) spreadsheets regarding OEC Central Purchasing's spending
habits over the past two (2) years.
I have only listed vendors/contractors where we have received in access of
$5k per month and who I feel should be approached about a purchasing
agreement that would benefit all Enron Divisions.
If you have any questions feel free to call.
Sincerely,
Jim Meyer
ps I know Roy Hartstein and Michael Frost in your group are interest in this
also.
| ||
arnold-j/all_documents/710.
|
subject: Re: Understanding the natural view
content: 1. don't know. some industrial shutdown is not gas price dependent. some
will not come back at the same prices it went off. residential conservation
i think is underestimated and has a severe lag effect that will not come back
as prices fall. as far as switching i dont think #2 is the floor some people
think it is. maybe #6 is the floor.
2. you know my outlook for xh, with slightly above normal weather jan goes
out at 2.75 and that is not constrained by a #6 floor. next jv, too far away
to really run the numbers but think natty reestablishes itself as a
$2.50-3.50 commodity.
3. the obvious
4. yes. believe if we end at 2.6 in the ground, the current nymex forward
curve may be fairly priced. my belief is that at the current prices we will
end up with much more than 2.6 and that $5 is not value if we have 2.8 in the
ground and gaining y on y. circular argument that leads to my belief that
prices must fall.
5. not necessarily. will loss of demand with normal weather cancel the fact
that there will be much less demand destruction. probably.
From: Jennifer Fraser/ENRON@enronXgate on 04/22/2001 05:54 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Understanding the natural view
1- The above spreadsheet looks at HO-NG seasonally. It gives perspective on
'normal relationships'.
Things I need to clarify about your ng view
1- As gas plummets are you assuming that it regains all demand (industrial
shutdowns and fuel switchers)?
2-What is your outlook for Nov-Mar 01 and Ap-oct 02
3- How does your view change with a normal, cold or warm winter ?
4- Is your view predicated on getting to 2.6 is easy and that world did not
end this past winter a storage level of 2.6?
5- Do you believe that we will need to price some demand out again this
winter?
Thanks
| ||
arnold-j/all_documents/711.
|
subject: Sixth Floor Layout
content: can you send jean a list of her seat numbers
---------------------- Forwarded by John Arnold/HOU/ECT on 04/25/2001 06:38
PM ---------------------------
From: Jean Mrha/ENRON@enronXgate on 04/18/2001 03:03 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Sixth Floor Layout
John,
I heard from Wes Colwell that you had been appointed by Lavorato to layout
the sixth floor for gas. This morning I spoke to Wes regarding the placement
of the Upstream/Ecommerce desk on six. I have taken 6 spaces but I need two
more. The two I would like to use (e29 & e30) are currently being occupied
by the Central Region. I would like to move these individuals to two spots
right across from their current location (e35 & e36).
For your information, the current six spots that I have are : e17, e18, e21,
e22, e23 and e24.
Please call when you can. Good luck trading...
Regards, Mrha
| ||
arnold-j/all_documents/712.
|
subject: Re:
content: thanks a lot
| ||
arnold-j/all_documents/713.
|
subject:
content: awfully close......
| ||
arnold-j/all_documents/715.
|
subject: Re: Power Group
content: yes
Ina Rangel
04/23/2001 05:04 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: Power Group
John,
Have you cleared everything with Presto about having to move over one row to
make room for Fred's group?
-Ina
| ||
arnold-j/all_documents/716.
|
subject: option candlesticks
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 04/23/2001 12:53
PM ---------------------------
[email protected] on 04/23/2001 10:15:27 AM
To: [email protected]
cc:
Subject: option candlesticks
The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete. Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein. Any
opinions expressed herein are solely those of the author. As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates. , 2001 Carr Futures
The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.
Option Candlesticks
http://www.carrfut.com/research/Energy1/candlesticks51.pdf
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
| ||
arnold-j/all_documents/718.
|
subject: Re: Overwhelmed By Debt? [qenld]
content: fuck you
[email protected] on 04/23/2001 10:48:39 AM
Please respond to [email protected]
To: [email protected]
cc:
Subject: Overwhelmed By
Debt? [qenld]
Debt got you down?
You're not alone....
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| ||
arnold-j/all_documents/719.
|
subject: Re: Henry "scuba" called
content: do you mind if i go out with the boys from work tonight?
| ||
arnold-j/all_documents/72.
|
subject: Computer Associates - Meeting Notes
content: fyi
Kim
----- Forwarded by Kim Godfrey/Enron Communications on 12/11/00 01:55 PM -----
Ali Khoja
12/07/00 01:14 PM
To: Kim Godfrey/Enron Communications@Enron Communications, Anthony
Gilmore/Enron Communications@Enron Communications
cc:
Subject: Computer Associates - Meeting Notes
Stephen Down and I met with Computer Associates in Toronto yesterday. Here
are some of my thoughts on how it went.
We met with Julia in the morning -- went to CA's Toronto office, where we
made presentation on EBS. Later Julia made a presentation on Computer
Associates, their Sales manager talked about their "security suit of
products", we were given a demonstration of their UniCenter TNG software, and
then taken to lunch. At lunch, we were joined by the President of Worldwide
Online Corporation (a Canadian startup).
About Computer Associates:
Computer Associates is a highly centralized organization run by its founders.
The company is the third largest independent software manufacturing business
in the world. It offers more then 800 software products. Like other companies
in their space, their stock has taken a beating this year losing more then
half its value (Jan 00: ~ $70, now ~$27)
Julia Ruslys, is part of their "Strategic Alliances" team -- their mandate is
to manage:
Strategic Business Alliances
Development Partner Program
eForce technology unit
Analyst relations
CA's APPROACH
Computer Associates sees EBS as a potential "development partner". Their
interest seems to be in a long-term alliance with EBS, where they can package
their software with a bundled network offering (from EBS) for their clients.
They claim that their main product UniCenter TNG has a 30% market share of IT
infrastructure management market. It is a cutting software package that can
manage all LANs or remote networks for an Enterprise. With a stunning graphic
interface, the software can be configured to manage:
All networks within an Enterprise
Each computer connected to a node within the enterprise can be monitored and
managed remotely (software installation etc.)
Their is a plethora of add-ons to the basic UniCenter package including some
advanced "Asset Management" tools that can predict future utilization through
a neural network architecture.
She commented that with UniCenter TNG, our clients have "full control and
flexibility over their whole network" EXCEPT THEIR BANDWIDTH NEEDS. EBS's
flexible and intelligent BOS, if integrated with UniCenter TNG, can provide
an enterprise complete control over their IT infrastructure with exceptional
flexibility. Similarly they have a keen interesting in developing and
expanding their storage solutions.
They seem to be interested in expanding their market opportunity and
increasing revenues through increasing the number of "CA certifications" and
joint selling initiatives. In other words, they would like EBS's network to
be CA-certified by developing compatibility between UniCenter TNG and IPNet
Connect. They currently have 1500 partners, including almost all top names in
IT infrastructure space.
EBS APPROACH CONVEYED
Although I think we have conveyed EBS's approach of "looking at specific
quick and clear opportunities", CA does not seem like a lean-mean
organization. Furthermore, the people that we met with, did not seem to have
an appreciation of the financial structuring and risk management capabilities
-- instead seemed to be disconnected with the corporate financial goals of
their organization. For example, when Steve Dowd talked about financial risk
management tools, their sales manager started talking about how they help
enterprises manage risk through their "security software packages."
WORLDWIDE ONLINE CORP.
Worldwide Online Corp. is a startup (with less then $2M revenues) that claims
to have good connections with CBC (Canadian Broadcasting Corp.) They were in
contact with Brad Sims' group out of Portland. That group, at some point lost
interest in Worldwide because Worldwide are looking for video streaming
services. Being a start-up with no credit, it is understandable why they were
abandoned by us. Steve made it clear that he knows nothing about the deal and
he may give Brad a call. I personally do not see anything for us in the next
two quarters or so even though the company has been promised many sports
broadcast opportunities by CBC.
It is interesting that Worldwide Online is a small client of CA. Julia went
out of her way to convince us to meet with Worldwide Online. At one point, I
almost thought as if her main goal was to promote a dialogue between EBS and
Worldwide online.
NEXT STEPS:
Steve and I made it clear that it will be important for us to look at some
specific short to medium-term opportunity with CA. Julia is going to identify
the people in her organization whom we can have constructive dialogue with
regards to IP connectivity needs of CA (their network infrastructure
procurement team.) At the same time, we had to show an interest in bringing
her team together with our product development people to see if any
integration opportunities exist between UniCenter TNG and IPNet Connect
BOS/Storage etc.
-Ali.
| ||
arnold-j/all_documents/720.
|
subject:
content: Hello, I noticed you carried several of the 98 Zoom Zins. Any chance you
have the 33 year old vines version? Please advise,
John
| ||
arnold-j/all_documents/721.
|
subject: Re: please fill in--i lost the scrap of paper
content: you think i'm going to put this in ellectronic form? no way.
From: Jennifer Fraser/ENRON@enronXgate on 04/19/2001 01:17 PM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: please fill in--i lost the scrap of paper
arnold
May-01
Jun-01
Jul-01
Aug-01
Sep-01
Oct-01
Nov-01
Dec-01
Jan-02
Jen Fraser
Enron Global Markets Fundamentals
713-853-4759
| ||
arnold-j/all_documents/722.
|
subject: option candlesticks
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 04/19/2001 11:28
AM ---------------------------
[email protected] on 04/19/2001 10:50:12 AM
To: [email protected]
cc:
Subject: option candlesticks
The information contained herein is based on sources that we believe to be
reliable, but we do not represent that it is accurate or complete. Nothing
contained herein should be considered as an offer to sell or a solicitation
of an offer to buy any financial instruments discussed herein. Any
opinions expressed herein are solely those of the author. As such, they
may differ in material respects from those of, or expressed or published by
on behalf of Carr Futures or its officers, directors, employees or
affiliates. , 2001 Carr Futures
The charts are now available on the web by clicking on the hot link(s)
contained in this email. If for any reason you are unable to receive the
charts via the web, please contact me via email and I will email the charts
to you as attachments.
Option Candlesticks
http://www.carrfut.com/research/Energy1/candlesticks25.pdf
Carr Futures
150 S. Wacker Dr., Suite 1500
Chicago, IL 60606 USA
Tel: 312-368-6149
Fax: 312-368-2281
[email protected]
http://www.carrfut.com
| ||
arnold-j/all_documents/723.
|
subject: RE: Receipt of Hedge Fund Information
content: Mike:
Please resend the forms needed although I may have sent the necessary docs
with the courier that delivered the check. Do not believe we've seen the
worst yet.
Will not be looking to put more money to work on the long only side for a
while. Even with the rally today I do not believe we've seen the worst yet.
"Gapinski, Michael" <[email protected]> on 04/17/2001
08:48:53 AM
To: "'[email protected]'" <[email protected]>
cc: "Herrera, Rafael J." <[email protected]>
Subject: RE: Receipt of Hedge Fund Information
John -
Yes, we received your check and forms. The check has been deposited and the
forms have been processed. The actual debits for hedge fund subscriptions
will begin on April 24th.
As for naked options, I believe we sent the paperwork for naked options to
you in February, but I don't believe we got it back. Also, I'm concerned
about the margin requirements for naked options interfering with funds
available for the hedge fund subscriptions on April 24th.
I also have an ACCESS manager portfolio presentation for you to review
concerning the long-stock portion of your portfolio. I'm thinking we could
knock out the paperwork, discuss protecting your liquidity for the hedge
funds vs. naked option margin requirements, and walk you through the ACCESS
manager proposal in about 30-45 minutes if you're available around 5 PM
tonight or tomorrow night. With regards to the marginable equity for naked
options question, are the stocks at Fidelity held in joint name?
Thanks,
Mike
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, April 16, 2001 3:59 PM
To: Gapinski, Michael
Subject: RE: Receipt of Hedge Fund Information
mike:
just want to confirm you received my money and forms.
also, checking to see if i am set up to sell naked calls on ENE. may be
looking to do something this week. probably 100-200 contracts.
john
Notice Regarding Entry of Orders and Instructions: Please
do not transmit orders and/or instructions regarding your
PaineWebber account(s) by e-mail. Orders and/or instructions
transmitted by e-mail will not be accepted by PaineWebber and
PaineWebber will not be responsible for carrying out such orders
and/or instructions. Notice Regarding Privacy and Confidentiality:
PaineWebber reserves the right to monitor and review the content of
all e-mail communications sent and/or received by its employees.
| ||
arnold-j/all_documents/724.
|
subject: Re: FW: bloomberg
content: Please send it to me.
john
From: Julie Pechersky/ENRON@enronXgate on 04/17/2001 09:33 AM
To: John Arnold/HOU/ECT@ECT
cc:
Subject: FW: bloomberg
John,
We are trying to transfer your bloomberg account and need to know who within
Enron North America can sign-off on this
contract. Would that be you? Or do you have a legal department that we
should forward it to? We initially changed the
name on it and had it signed under Enron Corp which is where the majority of
our Bloomberg contracts lie, but because
you can actually execute trades from the system that you are now using, it
has to be under your departments name
and we need someone to sign the contract.
Let me know.
Thanks,
Julie
-----Original Message-----
From: "ALLYSON FELLER, BLOOMBERG/ NEW YORK" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22ALLYSON+20FELLER+2C+20BLOOMBERG_+20NEW+20YORK+22+20+3CAF
[email protected]]
Sent: Monday, April 16, 2001 12:03 PM
To: [email protected]
Subject: bloomberg
Hi Julie. I noticed the contracts have been received. However, "North
America"
has been crossed off the contract. That is the name it was signed under and
still the current trading name for Emissions and Natural gas. Not sure if it
was a mistake or not. Anyway - please get back to me when you can. I am going
to try to set up a meeting with the gas guys for tomorrow 4/17. Thanks
| ||
arnold-j/all_documents/725.
|
subject: 2- SURVEY/INFORMATION EMAIL
content: ---------------------- Forwarded by John Arnold/HOU/ECT on 04/18/2001 09:03
PM ---------------------------
Outlook Migration Team@ENRON
04/17/2001 12:52 PM
To: Brandi Morris/HOU/ECT@ECT, Brian Vass/HOU/ECT@ECT, Carlos
Gorricho/Enron@EnronXGate, Christine Drummond/HOU/ECT@ECT, John
Enerson/HOU/ECT@ECT, Lesley Ayers/Corp/Enron@ENRON, L'Sheryl
Hudson/HOU/ECT@ECT, Maria LeBeau/HOU/ECT@ECT, Mark Meier/Corp/Enron@Enron, Mo
Bawa/NA/Enron@ENRON, Patrick Johnson/HOU/ECT@ECT, Richard
Lydecker/Corp/Enron@Enron, Stacie Mouton/NA/Enron@Enron, Akasha R
Bibb/Corp/Enron@Enron, Bethanne Slaughter/NA/Enron@Enron, Bruce
Harris/NA/Enron@Enron, Cecilia Rodriguez/Enron@EnronXGate, Chetan
Paipanandiker/HOU/ECT@ECT, Craig Chaney/HOU/ECT@ECT, George
Zivic/HOU/ECT@ECT, Gillian Johnson/HOU/EES@EES, Jacquelyn
Jackson/ENRON@enronXgate, Kim Detiveaux/ENRON@enronXgate, Kimberly
Friddle/NA/Enron@ENRON, Lynn Tippery/Enron@EnronXGate, Seung-Taek
Oh/NA/Enron@ENRON, Tom Doukas/NA/Enron@ENRON, Vincent Wagner/NA/Enron@Enron,
Daniel Quezada/Corp/Enron@Enron, Dutch Quigley/HOU/ECT@ECT, Ina
Rangel/HOU/ECT@ECT, Jason Panos/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, John
Arnold/HOU/ECT@ECT, John Griffith/Corp/Enron@Enron, Kimberly
Hardy/Corp/Enron@ENRON, Larry May/Corp/Enron@Enron, Mike
Maggi/Corp/Enron@Enron, Andrea Crump/NA/Enron@Enron, Ashu
Tewari/NA/Enron@Enron, Bryan Deluca/NA/Enron@Enron, Cecil
John/Corp/Enron@ENRON, Clinton Anderson/HOU/ECT@ECT, Dale Neuner/HOU/ECT@ECT,
Danny Lee/Corp/Enron@Enron, Fraisy George/NA/Enron@Enron, Frank L
Davis/HOU/ECT@ECT, Gary Nelson/HOU/ECT@ECT, James Wylie/NA/Enron@Enron,
Joshua Meachum/NA/Enron@ENRON, Kathy M Moore/HOU/ECT@ECT, Keith
Clark/Corp/Enron@Enron, Mary Griff Gray/HOU/ECT@ECT, Michael
Guillory/NA/Enron@ENRON, Nicole Hunter/NA/Enron@Enron, Sunil
Abraham/NA/Enron@Enron, Lohit Datta-Barua/OTS/Enron@Enron, Michael
Woodson/GCO/Enron@ENRON, Paul Powell/GCO/Enron@ENRON, Randy
Belyeu/OTS/Enron@ENRON, Richard D Lee/OTS/Enron@ENRON, Susan
Brower/ET&S/Enron@ENRON, Alex Wong/Corp/Enron@Enron, James
Skelly/Corp/Enron@ENRON
cc:
Subject: 2- SURVEY/INFORMATION EMAIL
Current Notes User:
To ensure that you experience a successful migration from Notes to Outlook,
it is necessary to gather individual user information prior to your date of
migration. Please take a few minutes to completely fill out the following
survey. When you finish, simply click on the 'Reply' button then hit 'Send'
Your survey will automatically be sent to the Outlook 2000 Migration Mailbox.
Thank you.
Outlook 2000 Migration Team
------------------------------------------------------------------------------
--------------------------------------------------------------
Full Name:
Login ID:
Extension:
Office Location:
What type of computer do you have? (Desktop, Laptop, Both)
Do you have a PDA? If yes, what type do you have: (None, IPAQ, Palm Pilot,
Jornada)
Do you have permission to access anyone's Email/Calendar?
If yes, who?
Does anyone have permission to access your Email/Calendar?
If yes, who?
Are you responsible for updating anyone else's address book?
If yes, who?
Is anyone else responsible for updating your address book?
If yes, who?
Do you have access to a shared calendar?
If yes, which shared calendar?
Do you have any Distribution Groups that Messaging maintains for you (for
mass mailings)?
If yes, please list here:
Please list all Notes databases applications that you currently use:
In our efforts to plan the exact date/time of your migration, we also will
need to know:
What are your normal work hours? From: To:
Will you be out of the office in the near future for vacation, leave, etc?
If so, when? From (MM/DD/YY): To (MM/DD/YY):
| ||
arnold-j/all_documents/726.
|
subject:
content: jeanie:
i really need the docs on both phantom stock and options.
please
please
please
john
|
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