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arnold-j/sent_items/501.
|
subject: RE:
content: Do you want to drink beer? I'll work on sneaking a bottle of Opus in otherwise.
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 6:08 PM
To: Arnold, John
Subject: RE:
Are we gonna drink beer? I'm not really a beer drinker.
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 5:53 PM
To: Allen, Margaret
Subject: RE:
I never knew your fantasies...
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 5:41 PM
To: Arnold, John
Subject: RE:
oh, oh and the makeup and wig too!
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 5:36 PM
To: Allen, Margaret
Subject: RE:
maybe after the game.
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 5:20 PM
To: Arnold, John
Subject: RE:
no, you are wearing a skirt, like me!
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 3:30 PM
To: Allen, Margaret
Subject: RE:
I'm wearing a shirt too
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 2:45 PM
To: Arnold, John
Subject: RE:
skirt
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 2:13 PM
To: Allen, Margaret
Subject: RE:
jeans
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 2:13 PM
To: Arnold, John
Subject: RE:
okay - plan on 11:45. what are you wearing - shorts or jeans?
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 2:12 PM
To: Allen, Margaret
Subject: RE:
sure. just call me when you get out
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 2:11 PM
To: Arnold, John
Subject: RE:
I have an 11 meeting, so can we meet in the lobby at 11:45?
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 1:44 PM
To: Allen, Margaret
Subject: RE:
she starts at 12:12
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 1:10 PM
To: Arnold, John
Subject: RE:
What time does the game start?
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 1:02 PM
To: Allen, Margaret
Subject: RE:
my little junior league girl. so sweet.
let's leave around 1130ish
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 08, 2001 12:54 PM
To: Arnold, John
Subject: RE:
Yippee! I'm in! What time do you want to go?
I have volunteer work tomorrow night starting at 6pm...so I'll have to run off around 5:30.
I'm sooo excited! Who all is coming? Yippee! MSA
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 10:35 AM
To: Allen, Margaret
Subject:
want to play hookie and go to the bb game tomorrow at noon?
| ||
arnold-j/sent_items/502.
|
subject:
content: Not so impressed with David goldman. For a guy who has worked in derivatives for 10 years, couldnt answer some simple questions. Very poor financial derivatives knowledge even though he worked at CRT for a long time and a Lyonnais for a while. The only value I see in him is that he worked at BP for a while and might have some knowledge as to how they work.
| ||
arnold-j/sent_items/503.
|
subject:
content: that was pretty funny. Do not still have the double date thing.
I need a favor in return for interviewing your boys. Remember Mark Findsen. He's looking to get back into the business, possibly from the trading side. I actually think he might make a better orig guy. He has been in the crude and products markets for 10+ years. Has no experiece in trading energy but has been day trading equities for past year. He asked if he could get a round of interviews at Enron. Could you set up a round for him?
| ||
arnold-j/sent_items/504.
|
subject: RE: 25% ACROSS THE BOARD REDUCTION IN ENE HEADCOUNT
content: maybe, some specialization is beneficial though.
-----Original Message-----
From: Fraser, Jennifer
Sent: Monday, October 08, 2001 10:56 AM
To: Arnold, John
Subject: RE: 25% ACROSS THE BOARD REDUCTION IN ENE HEADCOUNT
porsche boxster (maybe the bmw one) instead or 5000 they raffle a car...hahahaha johnny..only exempt group is egm crude and products which keeps hiring and hiring
also dont you think it was about time there was one fundamentals group where all information was shared and disseminated to trading
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 11:53 AM
To: Fraser, Jennifer
Subject: RE: 25% ACROSS THE BOARD REDUCTION IN ENE HEADCOUNT
they're giving away a porsche boxster or a cardboard boxcutter?
-----Original Message-----
From: Fraser, Jennifer
Sent: Monday, October 08, 2001 10:50 AM
To: Arnold, John
Subject: RE: 25% ACROSS THE BOARD REDUCTION IN ENE HEADCOUNT
that means nothing..uk is giving away boxter for new employees ans slicing 10% at same time
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 11:48 AM
To: Fraser, Jennifer
Subject: RE: 25% ACROSS THE BOARD REDUCTION IN ENE HEADCOUNT
no way. we're still paying $5000 for new employee referrals
-----Original Message-----
From: Fraser, Jennifer
Sent: Monday, October 08, 2001 10:18 AM
To: Arnold, John
Subject: 25% ACROSS THE BOARD REDUCTION IN ENE HEADCOUNT
YA HEARING ANYTHING ON THIS
GEORGE DOWN--CRUDE FLOOR EVACUATED AND BROUGHT BACK
| ||
arnold-j/sent_items/505.
|
subject: RE: Ospraie swaption
content: sounds like it's clean from your side. I HATE SWAPTIONS!!
-----Original Message-----
From: Abramo, Caroline
Sent: Sunday, October 07, 2001 11:36 PM
To: Arnold, John
Cc: Dyk, Russell; Zivic, Robyn
Subject: FW: Ospraie swaption
hi.. just so you know exactly what happened here..
ospraie sold us a 4.70 swaption.. exercisable into a swap.. expiry 3/27/01.. 5/month cal02
on 3/27/01.. market close is 4.78..
we called Mike Maggi.. asked if he was exercising swap.. yes, he was
we asked if we had to do anything in the system.... no was the reply.
we call ospraie.. tell them we exercised the swap.
reconciling position report with ospraie for the hundreth time this month.. notice we are out 5/month on swaps... we had not previously been pulling deals from the system... just going by deal tickets.
we go through system for a week.. can not find deal.. that is where we are now.
deal needs to be found or recreated.
if you have some time (or if you like slow torture).. read my other note..
better news coming.. promise.
-----Original Message-----
From: Abramo, Caroline
Sent: Sun 10/7/2001 9:32 AM
To: Bailey, Derek; Nelson, Michelle
Cc: Dyk, Russell; Zivic, Robyn
Subject: Ospraie swaption
Errol- A swap between Enron and Tudor for Cal02 at 4.70 must be booked as soon as we figure out that there is no possibility it is in the system.
Derek/Michelle- this deal not being included in the system should be throwing off Ospraie's MTM. This swap is at 4.70.. they are short 60 contracts..currently Cal02 is around $3.. which should result in $1M more positive P&L for Ospraie and $1M less for us.
This must be settled first thing Monday.
Caroline
| ||
arnold-j/sent_items/506.
|
subject: RE: Back office issues
content: If these problems are not being addressed as they should be, call me and I'll get on it. This is unacceptable.
-----Original Message-----
From: Abramo, Caroline
Sent: Sunday, October 07, 2001 11:22 PM
To: Lagrasta, Fred
Cc: Dyk, Russell; Zivic, Robyn
Subject: Back office issues
Fred-
There are a number of issues we need to address with back office procedures immediately. We are losing money on avoidable problems and gaining a bad reputation in the market. Lets get Derek and Michelle together Tuesday afternoon.
2 of our counterparties are writing letters of complaint.. here's a sample of some of the quotes we have heard from the 10 counterparties we have added in the last 6 months.
"I shouldn't have to spend my time decomposing the invoices and confirmations you send out"
"It has been 10 days since we traded and we haven't received a shred of paper to give us the details of the trade"
"We are being told in a confirm something different than we are being invoiced for"
"We did not trade 300 contracts per day, it was per month - do you guys even think before you type"
"I am a CFO and an accountant and I can't decipher what you are trying to confirm here"
From a business dinner where a client of ours was speaking casually to large industrials and endusers. One, upon the mentioning of B2B exchanges said "they WILL NOT ever trade on EOL again because the backoffice procedure was such a nightmare.. they couldn't rely on the accuracy or timeliness of the confirm. This was a captive client who and needs to trade... who will not show us their flow again.
The latest is the most disturbing:
"we just want to do a small trade to test your system. We have heard it is a nightmare but want to see for ourselves - I mean how difficult can it be to book the purchase of 50 lots of crude" And still 5 days later they do not have one paper to show the details, not one phone call to confirm the trade...nothing. We even warned the BO that this was a new customer and to make best eforts to make sure the process runs smoothly and efficiently. Well, clearly we failed
We do not understand what is going on in the back office. Is it that they are too disconnected from our daily operations to understand how integral their accurracy is to our business? Is there too much turnover? How are they trained? Who is in charge of the "backoffice"? There seems to be a different manager for every step of the process.. who co-ordinates all their efforts? Does anyone care? Ok.. I'll stop.. For our part, we have Michelle coming up to NY for a week in December (we wanted this to happen as soon as she started but did not work for her).
We have to stop this before we lose clients (which we will).
All the problems are being caused by the following:
1. Our inability to generate an accurate position report for our clients. This has already cost us money this year. Our clients do 10 trades a day.. they are constantly in and out of positions.. it is imperative that we get these right. As well, this report is our ONLY check to make sure deals are entered and entered correctly into the system.
There are hundreds of books at Enron. We have postions on with dozens of them. We currenttly do not have an automated mechanism to pull deals from every book in one shot. We have to select books one by one.. this method will always result in books being ommmitted given our deal flow.
Michelle is in charge of this process. We need a IT person on this yesterday. Michelle is spending most of her day verifying the validity of the report she generates. Robyn, Russell, and I check it everyday.. there are always mistakes.
2. There is a breakdown in the backoffice functions after Michelle collects the tickets we write and verbally confirms them. There is no check after they have been imput. There are ALWAYS imput errors. Michelle needs to check every deal after its entered into the system going forward.
We also have NO set procedures for the bookings of deals. We have no idea where our job ends and the book admin's starts.. for non standard deals like gas dailies and swaptions we need to know the exact process from start to finish.
2a. Confirms are sent immediately after deals are entered.. what if deals are imput incorrectly? the confirm goes out anyway resulting in mass confusion at the client. Going forward, confirms need to be delayed until we can confirm that everything about the deal is correct.
2b. Invoicing.. there have been dozens of occassions where the amounts we are invoicing do not match the deals done..
3. EOL- We are pushing hard to get counterparties on here.. we have signed Renaissance up (a 10B program fund) but I shudder to see how EOL will fair at these tasks.
4. Credit- All of our clients are margined. If deals are in the system incorrectly, the wrong MTM goes to the client.. another mis-match. We work closely with credit since we need to collect initial margin from some clients.. this amount changes daily- we need someone who can get on the phone with clients and explain these numbers through.. again, we are doing this now.
| ||
arnold-j/sent_items/507.
|
subject: RE: wheres the love?
content: Sorry,sorry, sorry.
Havent had internet access at home for past 5 weeks. Much easier to write these at home as when I'm done trading I don't want to look at my computer.
For november, very neutral. Cash is impressive. Agree shutins, switching, and some weather are making market look more like equilibrium. Think with cash/futures at 20 cents, x/z looks crazy. As soon as z becomes prompt, the fear factor/risk premium of it will decrease and the whole winter will come off. Like your h/j trade. Hard to see it really being worth 9 cents at settlement. Been buying a lot of y/y cantango as I think next summer will be a piece but longer term gas story still very real and customers know it. Wouldnt be surprised to see 2/3 go to 50+. I think x has some room to go up, but not a lot. Dont want to play the market from the long side as been burned before trying to get long a market that is still in a downtrend. Seems like the curve will just keep rolling down with each expiry. All the winter months might settle 2.25. As such, the best thing to be short is jan.
-----Original Message-----
From: "Lafontaine, Steve" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Lafontaine+2C+20Steve+22+20+3Csteve+2Elafontaine+40bankofamerica+2Ecom+3E+40ENRON@ENRON.com]
Sent: Friday, October 05, 2001 12:32 PM
To: Lafontaine, Steve; [email protected]
Subject: RE: wheres the love?
well the mkts changed a bit since this writing. im more neturalish now i
guess. suprised about the cash strongth. and i guess it doesnt mattr CUZ YOU
DONT ANSWER YOUR EMAILS ANYWAY.
regards
> -----Original Message-----
> From: LaFontaine, Steve
> Sent: Friday, September 21, 2001 4:40 PM
> To: John Arnold (E-mail)
> Subject: whats up young man?
>
> johnny hope all is well. is ok here. new york a little stranger than
> normal for obvious reasons.. wwe're trying to get back to normal. pretty
> stressful cupla weeks. business has been pretty good(trading anyway) in
> natgas and oil. certainly have been some changes in natgas fundamentals
> but too littl too late im afraid to get bullish . market sucks and the
> newest shock to macr economics im starting to think are mitigating what
> mite have been some postive bullish changes like gas/oil relationship and
> gas shut ins. looks shitty i think. im not as short as ive been but
> starting to think this witer is waaay too high priced. just funtction
> timing i guess. i sold a few march aprils again. just doesnt fit the curve
> and i think 80% probabitly we end march with over 1.3 tcf in the ground.
> wud keep things ugle for awhile.
> anyway curious your thots as always. also wanted to say hi.have a good
> weekend
| ||
arnold-j/sent_items/508.
|
subject: RE:
content: LOSER
-----Original Message-----
From: Lavorato, John
Sent: Monday, October 08, 2001 4:14 PM
To: Arnold, John
Subject:
stl -14 200
stl det over 49.5 200
| ||
arnold-j/sent_items/509.
|
subject:
content: what's brian's last name?
| ||
arnold-j/sent_items/51.
|
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/sent_items/510.
|
subject: RE:
content: bad mormon brian
-----Original Message-----
From: Arnold, Matthew
Sent: Tuesday, October 09, 2001 8:06 AM
To: Arnold, John
Subject: RE:
which brian?
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 9, 2001 7:38 AM
To: Arnold, Matthew
Subject:
what's brian's last name?
| ||
arnold-j/sent_items/511.
|
subject: FW:
content: Johnny:
I'll get Mark Findsen to call you. Can you have at least 1 trader interview him as well.
Thanks,
John
-----Original Message-----
From: Shankman, Jeffrey A.
Sent: Tuesday, October 09, 2001 8:16 AM
To: Arnold, John
Cc: Palmer, Johnny
Subject: RE:
I'll set it up as orig.
Johnny, can you set this up?
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 6:37 PM
To: Shankman, Jeffrey A.; Nowlan Jr., John L.
Subject:
Not so impressed with David goldman. For a guy who has worked in derivatives for 10 years, couldnt answer some simple questions. Very poor financial derivatives knowledge even though he worked at CRT for a long time and a Lyonnais for a while. The only value I see in him is that he worked at BP for a while and might have some knowledge as to how they work.
| ||
arnold-j/sent_items/512.
|
subject:
content: Savita:
Any chance we can introduce limit orders to spreads?
| ||
arnold-j/sent_items/513.
|
subject:
content: Sushi on Thursday at the new place in the Village?
| ||
arnold-j/sent_items/514.
|
subject:
content: going to the game?
| ||
arnold-j/sent_items/515.
|
subject:
content: cancel above. we'll do it next week
| ||
arnold-j/sent_items/516.
|
subject:
content: got whalley's for today at noon. can you go?
| ||
arnold-j/sent_items/517.
|
subject:
content: are you there?
| ||
arnold-j/sent_items/518.
|
subject: RE:
content: I've 2 extra tix if you anybody we like.
-----Original Message-----
From: Allen, Margaret
Sent: Tuesday, October 09, 2001 10:36 AM
To: Arnold, John
Subject: RE:
I'm here - my 11 got cancelled.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 10:34 AM
To: Allen, Margaret
Subject:
are you there?
| ||
arnold-j/sent_items/519.
|
subject: RE:
content: yea
-----Original Message-----
From: Allen, Margaret
Sent: Tuesday, October 09, 2001 10:39 AM
To: Arnold, John
Subject: RE:
I don't think Brian can go - but can I extend the offer to him?
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 10:37 AM
To: Allen, Margaret
Subject: RE:
I've 2 extra tix if you anybody we like.
-----Original Message-----
From: Allen, Margaret
Sent: Tuesday, October 09, 2001 10:36 AM
To: Arnold, John
Subject: RE:
I'm here - my 11 got cancelled.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 10:34 AM
To: Allen, Margaret
Subject:
are you there?
| ||
arnold-j/sent_items/52.
|
subject:
content: wanna get sauced after work?
| ||
arnold-j/sent_items/520.
|
subject: RE:
content: I just found a taker. Sorry.
-----Original Message-----
From: Allen, Margaret
Sent: Tuesday, October 09, 2001 10:50 AM
To: Arnold, John
Subject: RE:
He can't go - I didn't think he could. I'm trying to find my sister (she just moved to town), but I can't find her anywhere. Any other suggestions?
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 10:45 AM
To: Allen, Margaret
Subject: RE:
yea
-----Original Message-----
From: Allen, Margaret
Sent: Tuesday, October 09, 2001 10:39 AM
To: Arnold, John
Subject: RE:
I don't think Brian can go - but can I extend the offer to him?
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 10:37 AM
To: Allen, Margaret
Subject: RE:
I've 2 extra tix if you anybody we like.
-----Original Message-----
From: Allen, Margaret
Sent: Tuesday, October 09, 2001 10:36 AM
To: Arnold, John
Subject: RE:
I'm here - my 11 got cancelled.
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 10:34 AM
To: Allen, Margaret
Subject:
are you there?
| ||
arnold-j/sent_items/521.
|
subject: RE: Thursday 10/11/01
content: ok
-----Original Message-----
From: Rangel, Ina
Sent: Tuesday, October 09, 2001 5:47 PM
To: Arnold, John
Subject: Thursday 10/11/01
John:
I would like to take a vacation day this Thursday. I have to go to court and am having some work done to my house. I will still logon from home and can be reached by cell.
-Ina
| ||
arnold-j/sent_items/522.
|
subject: RE: RIBFEST -5- (Nov. 3rd)
content: I'm in.
-----Original Message-----
From: Woulfe, Greg
Sent: Tuesday, October 09, 2001 2:02 PM
To: '[email protected]'
Subject: RIBFEST -5- (Nov. 3rd)
The World Wide RibFest "celebration of the Rib" is coming up. This will be the 5th annual ribfest, and John Mee has his work cut out for him to defend the title he won last year (for the second time). I believe he will have a tough time, as the competition looks increasingly focused on unseating the former Bostonian from his Throne.
For those of you who haven't been to a ribfest in the past, it's a barbeque competition where 5 to 7 cooks compete to see who can produce the best Baby Back Ribs (if you want those Fred Flintstone beef ribs, you ain't getting them here). A blind-judging takes place to determine the winner, but often the crowd gets up in arms and nominates a "peoples choice" (though this is not officially recognized by the sanctioning body).
Every year, my wife asks the following: "So, besides Ribs, beer and margaritas, what else will be served?"
I reply: "Nothing comes to mind."
She replies: "No."
As you might expect, she wins this discussion year in, year out. So, appetizers, sides, desserts and food & drink for the kids are also served. The competition around the grills gets a little rough, so I recommend that the young and faint-of-heart maintain a safe distance while the cooking and competition is taking place. The appropriate College football games will be broadcast, so you don't have to worry about missing any games.
There are a couple of changes to this year's competition:
The competition will be held at the John Mee/Laura Benjamins compound in Bellaire
Mike Paradise (who won the very first ribfest) has stepped out of the competition this year citing "personal reasons"
Date & Time
Saturday November 3rd. We fire the grills up around 12:00, and the judging takes place between 3:00 and 3:30.
Where
4807 Elm Street in Bellaire
Directions (from John Mee himself)
From downtown, take 59s to 610s. The first exit is the Bissonette//Fournace exit. Take this exit and go through the light, noting the gouging in the lamppost from that freak cherry-picker accident from last April. Before the Bisonette light, there is a big Chase Bank Building. Right before that building is Elm Street. Take a right on Elm Street exactly 236 yards to 4807 Elm Street. Go inside and ask for directions there, cause I really don't have a clue...
KIDS
Bring 'em! We'll have the Moonwalk set up for them again this year, and we'll have hot dogs, burgers, popcorn and drinks for them. The more kids the better.
What you need to bring
Nothing, except maybe some attitude to heckle the cooks while they try to concentrate.
RSVP
Call John and Laura 713 839 8700 -or-
Greg and Martha 713 861 2766
We need to make sure we stock up enough ribs to go around.
| ||
arnold-j/sent_items/523.
|
subject:
content: can you make a reservation for 8 at vallones at 6:30 today.
| ||
arnold-j/sent_items/524.
|
subject: RE:
content: sorry, just got your msg. cant go today.
by the way, you're a lousy friend.
-----Original Message-----
From: Robins, Bryan
Sent: Wednesday, October 10, 2001 10:31 AM
To: Arnold, John
Subject: RE:
are you up for todays game?
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 9:53 AM
To: Robins, Bryan
Subject:
going to the game?
| ||
arnold-j/sent_items/525.
|
subject: RE: Thanks and sorry
content: don't worry about it
-----Original Message-----
From: Meyer, Vance
Sent: Wednesday, October 10, 2001 4:00 PM
To: Arnold, John
Cc: Rangel, Ina
Subject: Thanks and sorry
John --
I appreciate your allowing us to use your enclosed office for Ken Lay video applications. In testing the equipment today, I realized for the first time that our fiber feed involved that big black box that you've undoubtedly noticed. I was unaware that that would be necessary. We really view this as temporary because we are planning to move all video activity to the new building before the end of the year. However, if you would prefer, I can request to have the box moved out and a fixture put in your wall.
Thanks again, John.
Vance Meyer
| ||
arnold-j/sent_items/526.
|
subject: RE:
content: I'm sure he'll come down whenever we ask. Should I tell him to get his butt down here and show us the love?
-----Original Message-----
From: Shankman, Jeffrey A.
Sent: Wednesday, October 10, 2001 3:13 PM
To: Arnold, John
Subject: RE:
when is brian tracy coming to town? or does he use eol too, and we'll never see him again.
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 6:44 PM
To: Shankman, Jeffrey A.
Subject:
that was pretty funny. Do not still have the double date thing.
I need a favor in return for interviewing your boys. Remember Mark Findsen. He's looking to get back into the business, possibly from the trading side. I actually think he might make a better orig guy. He has been in the crude and products markets for 10+ years. Has no experiece in trading energy but has been day trading equities for past year. He asked if he could get a round of interviews at Enron. Could you set up a round for him?
| ||
arnold-j/sent_items/527.
|
subject: RE: THANKS!
content: your welcome. It was really good to see you again. Maybe we can so something again before 2 months
-----Original Message-----
From: Allen, Margaret
Sent: Wednesday, October 10, 2001 11:01 AM
To: Arnold, John
Subject: THANKS!
Thanks you so much for taking Kim and I to the game yesterday! We both had the BEST time! It seems like it has been forever since we have hung out - I miss that!
I'll bring you stew later today - so you will definitely get nourishment tonight. Take care! MSA
| ||
arnold-j/sent_items/528.
|
subject: RE: Follow up for Hardware Request....
content: All good
-----Original Message-----
From: Collier, Ricky
Sent: Wednesday, October 10, 2001 10:41 AM
To: Arnold, John
Subject: Follow up for Hardware Request....
Just emailing to verify that there are no problems with the desktop unit that was deployed to your location on 10-2-01...
Hardware Deployment,
Ricky Collier
| ||
arnold-j/sent_items/529.
|
subject: RE:
content: He should call you today or tomorrow morning. I do not have a list of interviewers in mind. I would like Bill White to talk to him though.
Thanks.
-----Original Message-----
From: Palmer, Johnny
Sent: Wednesday, October 10, 2001 10:34 AM
To: Arnold, John
Subject: RE:
John,
I haven't received a call from Mark as of yet. Do you have a list of interviewers in mind?
Thanks,
Johnny
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 09, 2001 8:18 AM
To: Palmer, Johnny
Subject: FW:
Johnny:
I'll get Mark Findsen to call you. Can you have at least 1 trader interview him as well.
Thanks,
John
-----Original Message-----
From: Shankman, Jeffrey A.
Sent: Tuesday, October 09, 2001 8:16 AM
To: Arnold, John
Cc: Palmer, Johnny
Subject: RE:
I'll set it up as orig.
Johnny, can you set this up?
-----Original Message-----
From: Arnold, John
Sent: Monday, October 08, 2001 6:37 PM
To: Shankman, Jeffrey A.; Nowlan Jr., John L.
Subject:
Not so impressed with David goldman. For a guy who has worked in derivatives for 10 years, couldnt answer some simple questions. Very poor financial derivatives knowledge even though he worked at CRT for a long time and a Lyonnais for a while. The only value I see in him is that he worked at BP for a while and might have some knowledge as to how they work.
| ||
arnold-j/sent_items/53.
|
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/sent_items/530.
|
subject: FW: Physical RFP Requests- for nOV 01 - mAR 02 (nIPSCO, PIEDMONT
content: -----Original Message-----
From: Fraser, Jennifer
Sent: Tuesday, October 09, 2001 2:16 PM
To: Arnold, John
Subject: Physical RFP Requests- for nOV 01 - mAR 02 (nIPSCO, PIEDMONT
AND WEST kY SYSTEMS)
please SEND TO to correct individuals
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, October 09, 2001 3:05 PM
To: undisclosed-recipients
Subject:
Dear Supplier:
Dominion Energy Consulting is the Fuel Manager and Agent for E.R. Carpenter Co..
We are soliciting supply offers from your company on the attached load profiles
for the term period November 1, 2001 through March 31, 2002. We understand
each supplier cannot serve all locations, so bid only on those where you are
competitive.
Your offers should include Full Firm Requirements NYMEX basis to the City Gate.
The location and LDC is included with each plant
| ||
arnold-j/sent_items/531.
|
subject: RE: How are you
content: Hey:
That's one hell of a bd celebration. Don't think I can hang in you guys.
Was definitely a little sleepy yesterday. Went to the bb game and then had a biz dinner last night. I was almost asleep driving home at 8:30. At least I was sane enough to yell buy and sell at random points during the day.
-----Original Message-----
From: Banner, Kimberly
Sent: Tuesday, October 09, 2001 1:29 PM
To: Arnold, John
Subject: How are you
today? I have felt better. I'm really glad that Teresa's birthday is over. I think that we have been celebrating since Friday but of course you know that. I apologize for any strange behavior last night that I might have exhitbited. (ie...having you make food for me at a very late hour, singing and whatever else) Just wanted to check on you and make sure that you aren't sleeping at your desk. Afterall, you only have to say "buy" or "sell" all day. How difficult could that be?
Kim
| ||
arnold-j/sent_items/532.
|
subject: RE: Daily Energy News Update, 10 October: BPA and Kaiser Reach
content: I assume you're going to let people select news categories such as us energ=
y news and avoid articles about paskistani oil fields.
-----Original Message-----
From: Allen, Margaret=20
Sent: Wednesday, October 10, 2001 10:59 AM
To: Arnold, John
Subject: FW: Daily Energy News Update, 10 October: BPA and Kaiser Reach Agr=
eement on Power
What about this one? Do you find it helpful or interesting? It focuses more=
on Policy, so it might not apply as much...MSA
=20
-----Original Message-----
From: Enron Forum [mailto:[email protected]]
Sent: Wednesday, October 10, 2001 6:58 AM
Subject: Daily Energy News Update, 10 October: BPA and Kaiser Reach Agreeme=
nt on Power
<http://www2.intellibridge.com/graphics/EnergyPolicyHeader.gif>=09
=09
<http://www2.intellibridge.com/graphics/TopTab.gif>October 10, 2001=09
<http://www2.intellibridge.com/graphics/blackbar.gif>
=09
<http://www2.intellibridge.com/graphics/MoreStories.gif>=09
<?XML:NAMESPACE PREFIX =3D O />
United States-Energy:=20
Senate Panel Discusses Multi-Pollutant Plan <https://www2.enronforum.com/co=
ntent?content_id=3D115988503>
United States-Energy:=20
Entergy Supports Delaying Arkansas Deregulation <https://www2.enronforum.co=
m/content?content_id=3D115982003>
United Kingdom-Energy:=20
AEP to Acquire Edison's UK Power <https://www2.enronforum.com/content?conte=
nt_id=3D115984603>
Canada-Energy:=20
Burlington Resources to Buy Canadian Hunter for $2.1 Billion <https://www2.=
enronforum.com/content?content_id=3D115986203>
Pakistan-Diplomacy:=20
Report: Pakistan Cuts Ties with Taliban <https://www2.enronforum.com/conten=
t?content_id=3D115969103>
South/Southeast Asia-Politics:=20
ASEAN Signals Caution on War Against Afghanistan <https://www2.enronforum.c=
om/content?content_id=3D115968403>=20
United States-Energy:=20
BPA and Kaiser Reach Agreement on Power (IB)
Kaiser Aluminum and the Bonneville Power Administration (BPA) reached an ag=
reement on a five-year power delivery deal that has been the source of conf=
lict between the two parties for almost a year. Kaiser Aluminum closed its =
smelting operations in the Pacific Northwest in late 2000, choosing to rese=
ll contracted power from the BPA on the spot market. According to the Spoke=
sman Review, "Kaiser netted more than $460 million from the sales." Other a=
luminum companies reselling power from BPA reached agreements during spring=
2001 with Bonneville. Under these agreements, the companies agreed to keep=
smelters off line to keep power supplies ample in the region, and BPA agre=
ed, in return, to give the smelters, when they restarted operations, a $20 =
per megawatt-hour (MWh) credit for obtaining power from sources other than =
BPA. Months of wrangling produced a contract between Kaiser and the BPA tha=
t negates a "take-or-pay" clause that would require Kaiser to pay for the f=
ederal power whether used or not. BPA said, "Under the agreement signed tod=
ay, Kaiser will avoid the possibility of paying damages if it does not take=
all the power under the contract...And if [BPA] can't resell it, we are no=
t going to hold [Kaiser] liable for the difference," Clearing Up reported. =
As a concession for the elimination of the "take-or-pay" clause, Kaiser wil=
l receive interruptible service from the BPA on some of its 240 MW load. Ka=
iser received criticism from union groups who claimed that the company was =
using the money it had gained reselling power "to pay down long-term debt, =
rebuild a refinery in Louisiana and reward executives with excessive bonuse=
s," rather than splitting the money between workers that had been laid off,=
the BPA, and building generation, AP reported. More... <https://www2.enron=
forum.com/content?content_id=3D115987203>=20
<https://ib.intellibridge.com/content?content_id=3D80296803>
United States-Energy:=20
CA Power Authority Names CEO (IB)
The California Consumer Power and Conservation Financing Authority named La=
ura Doll its new chief executive officer on 5 October. Texan Doll "had prev=
iously worked for several communications and consulting firms," and will be=
receiving a salary of $200,000 as the power authority's CEO, according to =
the San Francisco Chronicle. S. David Freeman, the authority's chair, will =
retain his post. Freeman said he will "handle fewer administrative duties,"=
and will "be able to devote more time to reaching out to interest groups s=
uch as the Legislature and consumer groups," The Chronicle reported. Accord=
ing to a 7 October report in the Orange County Register, consumer groups, b=
usinesses, and the legislature have questioned the recent actions of the po=
wer authority, which has vowed to secure nearly 3,000 megawatts (MW) of pow=
er by summer 2002 to avoid power shortages. The power authority, which was =
created by Governor Gray Davis and the state Legislature in May 2001, can i=
ssue up to $5 billion in bonds to bolster the state's power supply through =
financing new renewable generation or peaker projects. The Register said th=
at businesses and consumer groups are worried that higher electricity rates=
could be the result of the power authority initiative to bring 1,000 MW of=
green power and 2,000 MW of peaker generation on line by summer 2002. The =
state's Joint Legislative Audit Committee would look into the authority's p=
lanned purchases, according to the committee chair, Assembly member Fred Ke=
eley. Keeley said "it's appropriate early and often to review their work in=
a public venue and have them held accountable for compliance of the law," =
the Register reported. More... <https://www2.enronforum.com/content?content=
_id=3D115979903>
United States-Energy:=20
FERC Refunds Ordered (IB)
On 5 October, the Federal Energy Regulatory Commission (FERC) ordered four =
power marketers to provide refunds for July sales that exceeded a federally=
mandated price limit. Dynegy Corp., Mirant Corp., Williams Cos., and Relia=
nt Energy were the companies specifically mentioned. Under a 19 June FERC o=
rder, price limits were established in 11 Western states to help tame the v=
olatile electricity spot market. The June order stated that companies charg=
ing in excess of the mitigated price had seven days past the end of the mon=
th in question to file justifications for their overcharges. The 5 October =
order said that the aforementioned companies filed justifications, but all =
were rejected, and that other companies that overcharged during July, but d=
id not file justifications, would also be subject to ordered refunds. Altho=
ugh FERC did not release specific figures, the California Independent Syste=
m Operator said that total overcharges for the month amounted to $260,000, =
The Los Angeles Times reported. The commission's order explained the reject=
ion of cost justifications for the four companies. The explanations by Mira=
nt and Dynegy, filed more than seven days after July ended, were "untimely =
and...neither company supported in detail its actual costs for its transact=
ions," according to the document. Reliant's filing was "not consistent with=
the requirements of the June 19 Order," and Willams "did not provide any c=
ost support for its transactions beyond restating general objections to the=
commission's pricing methodology," the commissioners wrote. A Mirant spoke=
sman told Reuters that "his company was ordered to refund $33,800," while a=
Williams spokesman told the LA Times "$30,000 worth of electricity sales a=
re subject to the FERC rebate for both June and July." More... <https://www=
2.enronforum.com/content?content_id=3D115981303>=20
=20
<http://www2.intellibridge.com/graphics/TopAnalysis3.gif>=09 =09
United States-Security: Role of Homeland Defense Czar <https://www2.enronfo=
rum.com/content?content_id=3D115979303>
North America-Energy: Texas Faces Transmission Line Shortages <https://www2=
.enronforum.com/content?content_id=3D115986903>
=09
=09
<https://ib.intellibridge.com/intellimemo> <https://ib.intellibridge.com/=
expertlink> =09
=09
| ||
arnold-j/sent_items/533.
|
subject: RE: Neural Networks
content: Any time tomorrow afternoon around 3 or 4:45 to discuss?
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Wednesday, October 03, 2001 6:29 PM
To: Arnold, John
Subject: RE: Neural Networks
John, here is a power point slide that provides a draft outline of the problem at hand. It is very draft in nature but I wanted to get the working version over to you ASAP. I wanted to get this discussion going via written format so that I (or others who may implement this) can stay focused on what you want and not get into broader research, etc....
I think I can put a model together if we can define what parameters, the interface (levers) and model (transfer functions) to use that would be useful for you as phase I product.
I will fire off updates to this document as I make them. If you have a spec doc or ideas that you want to hand write on a print out, please do so and I will update the document.
I will like to make sure that I am on the same page before beginning to code the program and to start linking to additional moths (month 2, 3, ..) and different curves, etc.
My Job search has gone well with the Crude desk and I am waiting compensation indication from them to make my decision. Also, Kevin Presto feels that I could potentially help his power group with new market or spread trading. John Suarez is a director who came from the power desk to EBS is going back to work for Kevin Presto. I may have an opportunity to build the southeast market by supporting John.
I am very grateful that I met you and other key Enron traders during this job search.
<< File: Neural Ideas.ppt >>
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
-----Original Message-----
From: Arnold, John
Sent: Monday, October 01, 2001 3:47 PM
To: Thuraisingham, Ravi
Subject: RE: Neural Networks
not necessarily looking for predictive power. that's a 3 year project. just for market making skillset. The work that Dave Forster did was just for front month. That creates month 1. Then, similar logic has to create a month 1/month 2 spread to create a month 2 outright market. Same for month 2/ month 3 to create month 3. There might be 24-36 individual markets to create a forward curve. Sometimes month 1 has correlation to the month 1/ month 2 spread. Sometimes it does not. Must create a system that is mechanical but very easy for a human to add bias.
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Monday, October 01, 2001 10:20 AM
To: Arnold, John
Subject: Neural Networks
John, I just wanted to give you heads up that I did look into the subject system to learn from what your trading activities and then figure ways to automate some aspects of you daily activities. I will try to send you a few power point slides showing my initial thoughts on the system.
It appears that neutral network (AI is a subset of this class of learning systems) type of model that takes input from all available sources (including actual market feedback, weather and other fundamentals) and uses curve building functions and other existing tools as transfer functions, along with your own thinking (your processing functions that your neurons are wired up to do), could help the neural network to learn and eventually provide the necessary predictive power.
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
| ||
arnold-j/sent_items/534.
|
subject: RE:
content: Just following up to see if the recruiting season has started and to make sure everything is going okay. If you need anything, just say the word.
-----Original Message-----
From: "Gad Caspy" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Gad+20Caspy+22+20+3Cgcaspy+40mba2002+2Ehbs+2Eedu+3E+40ENRON@ENRON.com]
Sent: Monday, September 24, 2001 2:29 PM
To: Arnold, John
Subject: RE:
Dear Mr. Arnold:
Please let me know if I can call you this week at your convenient.
Sincerely,
Gad Caspy
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Thursday, September 13, 2001 8:02 PM
To: [email protected]
Subject: RE: Potential employment opportunities with Enron
Gad:
Sorry for the extremely late response. Despite the fact that Eva referred
you, we would have interest in meeting with you about emplyment opps. I was
planning on going to NY in a couple weeks but at this point, I don't know.
I would highly recommend that you follow the formal recruitment program in
addition to any talks we have. Although I can recommend to make you an
offer, it is much easier if it is done in parallel with the associate
recruitment program. After the current events calm down, we can talk via
phone about my experience here and why I think there are some good
opportunities here.
-----Original Message-----
From: "Gad Caspy" <[email protected]>@ENRON
[mailto:IMCEANOTES-+22Gad+20Caspy+22+20+3Cgcaspy+40mba2002+2Ehbs+2Eedu+3E+40
[email protected]]
Sent: Tuesday, September 04, 2001 5:29 PM
To: [email protected]
Subject: Potential employment opportunities with Enron
Dear Mr. Arnold:
I was referred to you by Ms. Eva Pao. I am a second year MBA student at
Harvard Business School, writing to express interest in exploring
potential
employment opportunities with Enron. In particularly, I am interested
in
derivatives trading.
I have attached my resume for your convenience. As you can see, my
professional experience has been in a variety of roles within financial
institutions and specifically, managing a currency trading-desk, before
starting my MBA.
I would appreciate an opportunity to meet with you or with one of your
colleagues, on a formal or informal basis, who might be in the Boston or
NYC
areas in the next few months.
Thank you for your time and consideration.
Sincerely,
Gad Caspy
24 Peabody Terrace # 1801
Cambridge, MA 02138
H (617) 876 2306
Harvard Business School
MBA 2002
- Gad_Caspy_Resume.doc << File: Gad_Caspy_Resume.doc >>
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at [email protected] and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************
| ||
arnold-j/sent_items/535.
|
subject: RE: Neural Networks
content: I've got a mtg from 4-4:30ish so either before or after
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Wednesday, October 10, 2001 6:01 PM
To: Arnold, John
Subject: RE: Neural Networks
John, I can cover that time frame. I will call you around 3:30 or just drop by if its okay with you.
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
-----Original Message-----
From: Arnold, John
Sent: Wednesday, October 10, 2001 5:58 PM
To: Thuraisingham, Ravi
Subject: RE: Neural Networks
Any time tomorrow afternoon around 3 or 4:45 to discuss?
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Wednesday, October 03, 2001 6:29 PM
To: Arnold, John
Subject: RE: Neural Networks
John, here is a power point slide that provides a draft outline of the problem at hand. It is very draft in nature but I wanted to get the working version over to you ASAP. I wanted to get this discussion going via written format so that I (or others who may implement this) can stay focused on what you want and not get into broader research, etc....
I think I can put a model together if we can define what parameters, the interface (levers) and model (transfer functions) to use that would be useful for you as phase I product.
I will fire off updates to this document as I make them. If you have a spec doc or ideas that you want to hand write on a print out, please do so and I will update the document.
I will like to make sure that I am on the same page before beginning to code the program and to start linking to additional moths (month 2, 3, ..) and different curves, etc.
My Job search has gone well with the Crude desk and I am waiting compensation indication from them to make my decision. Also, Kevin Presto feels that I could potentially help his power group with new market or spread trading. John Suarez is a director who came from the power desk to EBS is going back to work for Kevin Presto. I may have an opportunity to build the southeast market by supporting John.
I am very grateful that I met you and other key Enron traders during this job search.
<< File: Neural Ideas.ppt >>
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
-----Original Message-----
From: Arnold, John
Sent: Monday, October 01, 2001 3:47 PM
To: Thuraisingham, Ravi
Subject: RE: Neural Networks
not necessarily looking for predictive power. that's a 3 year project. just for market making skillset. The work that Dave Forster did was just for front month. That creates month 1. Then, similar logic has to create a month 1/month 2 spread to create a month 2 outright market. Same for month 2/ month 3 to create month 3. There might be 24-36 individual markets to create a forward curve. Sometimes month 1 has correlation to the month 1/ month 2 spread. Sometimes it does not. Must create a system that is mechanical but very easy for a human to add bias.
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Monday, October 01, 2001 10:20 AM
To: Arnold, John
Subject: Neural Networks
John, I just wanted to give you heads up that I did look into the subject system to learn from what your trading activities and then figure ways to automate some aspects of you daily activities. I will try to send you a few power point slides showing my initial thoughts on the system.
It appears that neutral network (AI is a subset of this class of learning systems) type of model that takes input from all available sources (including actual market feedback, weather and other fundamentals) and uses curve building functions and other existing tools as transfer functions, along with your own thinking (your processing functions that your neurons are wired up to do), could help the neural network to learn and eventually provide the necessary predictive power.
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
| ||
arnold-j/sent_items/536.
|
subject:
content: If you have blackberry, keep me informed about pira
| ||
arnold-j/sent_items/537.
|
subject: RE: Pira
content: ng lows in place but q1 forecast $2.2 ???
don't understand.
also, what's longer term forecast i.e. past mar 03
-----Original Message-----
From: Zivic, Robyn
Sent: Thursday, October 11, 2001 10:27 AM
To: Arnold, John
Subject: Pira
Sees NG lows in place
Producers reacting to price mgmt
Coal swithcing to NG and power guys stimulating demand
But thinks jan feb neds to come of
Bull spead
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
| ||
arnold-j/sent_items/538.
|
subject:
content: --------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RZIVIC>
To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold>
Date: Thursday, October 11, 2001 3:27:08 GMT
Subject:
Sees NG lows in place
Producers reacting to price mgmt
Coal swithcing to NG and power guys stimulating demand
But thinks jan feb neds to come of
Bull spead
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
--------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RZIVIC>
To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold>
Date: Thursday, October 11, 2001 3:27:19 GMT
Subject:
Thinks pwr suppliers in Calif shud be worried abt getting paid the long term contracts rates
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
--------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RZIVIC>
To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold>
Date: Thursday, October 11, 2001 3:22:26 GMT
Subject:
Ignore previous - forecasts:
Cinergy novdec 25.75 )al 02 30.75
Cal 03 38.51
Pjm novdec 27.31 cal 02 35.14. Cal 03 39.12
Problem with pwr overbuild of capacity - longer cycle than NG- the oversupply takes longer to fix - price will fix
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
--------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RZIVIC>
To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold>
Date: Thursday, October 11, 2001 3:22:14 GMT
Subject:
By end of oct 02 if have normal winter, = 1.3 end of mar 02 + 2.5 this yrs inj rate + 0.4 with inc hydro gen = 3.8 - can't happen so needprice low - shocks to industry to stop to inc demand
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
--------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RZIVIC>
To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold>
Date: Thursday, October 11, 2001 3:11:05 GMT
Subject:
Cdn alberta prod = mature GOM, need to see prod sustain - don't think happen - need LNG
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
--------- Inline attachment follows ---------
From: </O=ENRON/OU=NA/CN=RECIPIENTS/CN=RZIVIC>
To: Arnold, John </O=ENRON/OU=NA/CN=RECIPIENTS/CN=Jarnold>
Date: Thursday, October 11, 2001 3:10:56 GMT
Subject:
Supply side is the side that changed- medium term -
Expect cal 02 avg 2.45 nymex
Q1 2.20 q2 2.30 q3 2.57 q4 2.73
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
| ||
arnold-j/sent_items/539.
|
subject: RE: FW: Forward Warning
content: you goofball
go to www.snopes2.com , click on rumors of war, and then go to the first en=
try about halloween.
-----Original Message-----
From: =09Ward, Kim S (Houston) =20
Sent:=09Thursday, October 11, 2001 12:04 PM
To:=09Angie Conner (E-mail); Ann Sutton (E-mail); Brad Fagan (E-mail); Cath=
y Pocock (E-mail); Chris Todd (E-mail); Christopher Smith (E-mail); Cindy T=
arsi (E-mail); Dave Breish (E-mail); David Hutchens (E-mail); David Payne (=
E-mail); Elizabeth Jordan (E-mail); Eric Strickland (E-mail); Gayleen Barre=
tt (E-mail); Ginger& Michael Brown (E-mail); Harriet Turk (E-mail); Herman =
Green (E-mail); Slone, Jeanie; Jerry Ward (E-mail); John Schilke (E-mail); =
Kathy Wright (E-mail); Karla Dailey (E-mail); Linda Ward Elam (E-mail); Lis=
a Rosenberg (E-mail); Melissa Reese (E-mail); Matt Mitten (E-mail); Mike & =
Rosalia Nolan (E-mail); Mike Wardell (E-mail); Monica Padilla (E-mail); Nat=
alie & Bret Boehmer (E-mail); Sally McElroy (E-mail); Scott Connelly (E-mai=
l); Shawn McElmoyl (E-mail); Stanton Scott (E-mail); Susie Lejune (E-mail);=
Theresa Cline (E-mail); Tina lovett (E-mail); Wayne Brown (E-mail); Wes Ke=
rsey (E-mail); Yonnie Waller (E-mail); Olinger, Kimberly S.; Brewer, Stacey=
J.; '[email protected]'; Semperger, Cara; Fuller, Dave; Lucci, Paul T.;=
Nemec, Gerald; Vann, Suzanne; Heintzelman, Pete; McDonald, Rob; Vint, Pete=
r; Foster, Chris H.; Mainzer, Elliot; Wente, Laura; Platter, Phillip; 'ssca=
[email protected]'; Gerard, Camille; '[email protected]'; Cross, Edith EE=
S; '[email protected]'; '[email protected]'; 'lawrence.pope@h=
aliburton.com'; Arnold, John; '[email protected]'; '[email protected]=
.com'; Miller, Stephanie; '[email protected]'; '[email protected]'; Kennedy=
, Susan L.; '[email protected]'
Subject:=09FW: FW: Forward Warning
I received this email today from a very good friend of mine who has a lot =
of close friends from India. This letter is to one of those close friends.=
I don't know if I should pass it around but I want everyone I know to be =
aware.
Kim
> >
> >This is worth forwarding, just incase. . .
> >
> >=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
> >=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
> >
> >PLEASE READ!
> >Subject: Malls on 10/31
> >
> >Hey guys..I dont want to scare anyone..but its better safe than sorry,
> >right?? This is not just a foward I recieved..Its from one of my
> >colleages at JPMorgan. It's been sent around within the firm, I wanted
> >to pass it on just in case.
> >Hi All -
> >I think you all know that I don't send out hoaxes and don't
> >do the reactionary thing and send out anything that crosses my
> >path.
> >This one, however, is a friend of a friend and I've given it
> >enough credibility in my mind that I'm writing it up and sending it out
> >to all of you.
> >My friend's friend was dating a guy from Afghanistan up until a month
> >ago. She had a date with him around 9/6 and was stood up. She was
> >understandably upset and went to his home to find it completely emptied.
> >On 9/10, she received a letter from her boyfriend explaining that
> >he
> >wished he could tell her why he had left and that he was sorry it
> >had to be like that. The part worth mentioning is that he BEGGED her
> >not to get on any commercial airlines on 9/11 and to not to go any malls
> >on Halloween.
> >As soon as everything happened on the 11th, she called the FBI and has
> >since turned over the letter. This is not an email that I've received
> >and decided to pass on. This came from a phone conversation with a
> >long-time friend of mine last night.
> >I may be wrong, and I hope I am. However, with one of his warnings
> >being correct and devastating, I'm not willing to take the chance on the
> >second and wanted to make sure that people I cared about had the same
> >information that I did.
> >Laura Katsis
> >Implementation Specialist
> >714/921-5424
> >[email protected] <mailto:[email protected]>
> >[email protected] <mailto:[email protected]>
> >
> >
> >
> >--------------------------------------------------------------
> >Reminder: E-mail sent through the Internet is not secure.
> >Do not use e-mail to send us confidential information
> >such as credit card numbers, changes of address, PIN
> >numbers, passwords, or other important information.
> >Do not e-mail orders to buy or sell securities, transfer
> >funds, or send time sensitive instructions. We will not
> >accept such orders or instructions. This e-mail is not
> >an official trade confirmation for transactions executed
> >for your account. Your e-mail message is not private in
> >that it is subject to review by the Firm, its officers,
> >agents and employees.
> >--------------------------------------------------------------
> >
> >
> >**********************************************************************
> >This e-mail is the property of Enron Corp. and/or its relevant affiliate
> >and may contain confidential and privileged material for the sole use of
> >the intended recipient (s). Any review, use, distribution or disclosure
by
> >others is strictly prohibited. If you are not the intended recipient (or
> >authorized to receive for the recipient), please contact the sender or
> >reply to Enron Corp. at [email protected] and
delete
> >all copies of the message. This e-mail (and any attachments hereto) are
not
> >intended to be an offer (or an acceptance) and do not create or evidence
a
> >binding and enforceable contract between Enron Corp. (or any of its
> >affiliates) and the intended recipient or any other party, and may not b=
e
> >relied on by anyone as the basis of a contract by estoppel or otherwise.
> >Thank you.
> >**********************************************************************
>
>
> _________________________________________________________________
> Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.as=
p
>
>
|
houston <[email protected]>
|
|
arnold-j/sent_items/54.
|
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/sent_items/540.
|
subject: FW: Pira
content: -----Original Message-----
From: Zivic, Robyn
Sent: Thursday, October 11, 2001 11:06 AM
To: Arnold, John
Subject: RE: Pira
Low is seen ie 1.83 but contango needs to come out of curve so q1 has more downside from current but no lower than e seen in NGV1
Further out - will fax u price target slide,
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
| ||
arnold-j/sent_items/541.
|
subject: FW: FW: Forward Warning
content: -----Original Message-----
From: =09Ward, Kim S (Houston) =20
Sent:=09Thursday, October 11, 2001 12:04 PM
To:=09Angie Conner (E-mail); Ann Sutton (E-mail); Brad Fagan (E-mail); Cath=
y Pocock (E-mail); Chris Todd (E-mail); Christopher Smith (E-mail); Cindy T=
arsi (E-mail); Dave Breish (E-mail); David Hutchens (E-mail); David Payne (=
E-mail); Elizabeth Jordan (E-mail); Eric Strickland (E-mail); Gayleen Barre=
tt (E-mail); Ginger& Michael Brown (E-mail); Harriet Turk (E-mail); Herman =
Green (E-mail); Slone, Jeanie; Jerry Ward (E-mail); John Schilke (E-mail); =
Kathy Wright (E-mail); Karla Dailey (E-mail); Linda Ward Elam (E-mail); Lis=
a Rosenberg (E-mail); Melissa Reese (E-mail); Matt Mitten (E-mail); Mike & =
Rosalia Nolan (E-mail); Mike Wardell (E-mail); Monica Padilla (E-mail); Nat=
alie & Bret Boehmer (E-mail); Sally McElroy (E-mail); Scott Connelly (E-mai=
l); Shawn McElmoyl (E-mail); Stanton Scott (E-mail); Susie Lejune (E-mail);=
Theresa Cline (E-mail); Tina lovett (E-mail); Wayne Brown (E-mail); Wes Ke=
rsey (E-mail); Yonnie Waller (E-mail); Olinger, Kimberly S.; Brewer, Stacey=
J.; '[email protected]'; Semperger, Cara; Fuller, Dave; Lucci, Paul T.;=
Nemec, Gerald; Vann, Suzanne; Heintzelman, Pete; McDonald, Rob; Vint, Pete=
r; Foster, Chris H.; Mainzer, Elliot; Wente, Laura; Platter, Phillip; 'ssca=
[email protected]'; Gerard, Camille; '[email protected]'; Cross, Edith EE=
S; '[email protected]'; '[email protected]'; 'lawrence.pope@h=
aliburton.com'; Arnold, John; '[email protected]'; '[email protected]=
.com'; Miller, Stephanie; '[email protected]'; '[email protected]'; Kennedy=
, Susan L.; '[email protected]'
Subject:=09FW: FW: Forward Warning
I received this email today from a very good friend of mine who has a lot =
of close friends from India. This letter is to one of those close friends.=
I don't know if I should pass it around but I want everyone I know to be =
aware.
Kim
> >
> >This is worth forwarding, just incase. . .
> >
> >=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
> >=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=
=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D
> >
> >PLEASE READ!
> >Subject: Malls on 10/31
> >
> >Hey guys..I dont want to scare anyone..but its better safe than sorry,
> >right?? This is not just a foward I recieved..Its from one of my
> >colleages at JPMorgan. It's been sent around within the firm, I wanted
> >to pass it on just in case.
> >Hi All -
> >I think you all know that I don't send out hoaxes and don't
> >do the reactionary thing and send out anything that crosses my
> >path.
> >This one, however, is a friend of a friend and I've given it
> >enough credibility in my mind that I'm writing it up and sending it out
> >to all of you.
> >My friend's friend was dating a guy from Afghanistan up until a month
> >ago. She had a date with him around 9/6 and was stood up. She was
> >understandably upset and went to his home to find it completely emptied.
> >On 9/10, she received a letter from her boyfriend explaining that
> >he
> >wished he could tell her why he had left and that he was sorry it
> >had to be like that. The part worth mentioning is that he BEGGED her
> >not to get on any commercial airlines on 9/11 and to not to go any malls
> >on Halloween.
> >As soon as everything happened on the 11th, she called the FBI and has
> >since turned over the letter. This is not an email that I've received
> >and decided to pass on. This came from a phone conversation with a
> >long-time friend of mine last night.
> >I may be wrong, and I hope I am. However, with one of his warnings
> >being correct and devastating, I'm not willing to take the chance on the
> >second and wanted to make sure that people I cared about had the same
> >information that I did.
> >Laura Katsis
> >Implementation Specialist
> >714/921-5424
> >[email protected] <mailto:[email protected]>
> >[email protected] <mailto:[email protected]>
> >
> >
> >
> >--------------------------------------------------------------
> >Reminder: E-mail sent through the Internet is not secure.
> >Do not use e-mail to send us confidential information
> >such as credit card numbers, changes of address, PIN
> >numbers, passwords, or other important information.
> >Do not e-mail orders to buy or sell securities, transfer
> >funds, or send time sensitive instructions. We will not
> >accept such orders or instructions. This e-mail is not
> >an official trade confirmation for transactions executed
> >for your account. Your e-mail message is not private in
> >that it is subject to review by the Firm, its officers,
> >agents and employees.
> >--------------------------------------------------------------
> >
> >
> >**********************************************************************
> >This e-mail is the property of Enron Corp. and/or its relevant affiliate
> >and may contain confidential and privileged material for the sole use of
> >the intended recipient (s). Any review, use, distribution or disclosure
by
> >others is strictly prohibited. If you are not the intended recipient (or
> >authorized to receive for the recipient), please contact the sender or
> >reply to Enron Corp. at [email protected] and
delete
> >all copies of the message. This e-mail (and any attachments hereto) are
not
> >intended to be an offer (or an acceptance) and do not create or evidence
a
> >binding and enforceable contract between Enron Corp. (or any of its
> >affiliates) and the intended recipient or any other party, and may not b=
e
> >relied on by anyone as the basis of a contract by estoppel or otherwise.
> >Thank you.
> >**********************************************************************
>
>
> _________________________________________________________________
> Get your FREE download of MSN Explorer at http://explorer.msn.com/intl.as=
p
>
>
| ||
arnold-j/sent_items/543.
|
subject: RE: Telephone Interviews: Trading Track
content: yes
-----Original Message-----
From: Engler, Adrianne
Sent: Thursday, October 11, 2001 1:57 PM
To: Neal, Scott; Presto, Kevin M.; Ermis, Frank; Forney, John M.; Shively, Hunter S.; Sturm, Fletcher J.; Gilbert-smith, Doug; Allen, Phillip K.; Arora, Harry; Arnold, John; Lewis, Andrew H.; Davis, Mark Dana
Cc: Lavorato, John; Buckley, Karen
Subject: RE: Telephone Interviews: Trading Track
All -
Please confirm you received the folders for the phone screens I gave to your assistants yesterday afternoon.
Please feel free to call me with any questions!
Kind regards,
Adrianne
x57302
-----Original Message-----
From: Buckley, Karen
Sent: Wednesday, October 10, 2001 2:53 PM
To: Neal, Scott; Presto, Kevin M.; Ermis, Frank; Forney, John M.; Shively, Hunter S.; Sturm, Fletcher J.; Gilbert-smith, Doug; Allen, Phillip K.; Arora, Harry; Arnold, John; Lewis, Andrew H.; Davis, Mark Dana
Cc: Lavorato, John; Engler, Adrianne
Subject: Telephone Interviews: Trading Track
Guys,
You have been selected to complete the telephone screening of external candidates for second and final round. Each candidate will be screened by two traders to ensure agreement on quality of candidates. (these resumes have already been selected from c. 200 resumes by some of the ENA Traders).
As in the previous Trading Track recruiting event, you will be given a few days to complete this. The candidates will be expecting your call, there is no set interview time therefore allowing you flexibility to call in the evening from home if necessary. Resumes, telephone numbers etc will reach your desk tomorrow morning. All phone screens to be completed by Tuesday pm: 16th October.
Any questions please call myself or Adrianne Engler.
Thanks,
Karen.
x54667
| ||
arnold-j/sent_items/544.
|
subject:
content: what is our flight schedule for monday?
| ||
arnold-j/sent_items/545.
|
subject: RE: Pira
content: any substance to their argument or just their beliefs.
-----Original Message-----
From: Zivic, Robyn
Sent: Thursday, October 11, 2001 10:27 AM
To: Arnold, John
Subject: Pira
Thinks pwr suppliers in Calif shud be worried abt getting paid the long term contracts rates
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
| ||
arnold-j/sent_items/546.
|
subject:
content: The y/y spreads have come in decently over the past week and a half. The 2/10 spread has moved from 104 to 94. It may be a good time to move the 3-10 to a cal 2 trade. Pira just gave their seasonal conference in NY and they are very bullish long term gas.
Pira's
forecast Nymex
Cal 2 2.45 2.99
Cal 3 3.00 3.31
Cal 4 3.70 3.40
Cal 5 4.00 3.48
Cal 6 4.10 3.57
Cal 7 4.20 3.66
Cal 8 4.30 3.75
Cal 9 3.60 3.84 (TransAlaska Highway Pipeline)
Cal 10 3.80 3.93
3-10 3.84 3.59
Regardless of what you think of Pira and long term price forecasts, the rest of the market does listen. They have a tremendous amount of respect in the industry and affect how customers and producers hedge. The flow, which has been buyers over for the way backs, I think will get more pronounced, especially if the front goes down.
In the past week, I've sold Duke 40,000/d Cal 6-10 and 25,000/d Cal 7-10. I've sold PGE maybe 30,000 day Cal 4-5. The only seller has been El Paso whom I believe is hedging production. He is trying to pressure the y/y spreads as a spec trade that I think was/is being done to front run the corp hedges. I've used it as an opportunity to put a lot of spreads away for inventory down the road. If you want to buy this strip back in the next 6 months, I think it's going to be much easier/cheaper to roll it closer.
| ||
arnold-j/sent_items/547.
|
subject: RE: New Power
content: which way?
-----Original Message-----
From: Hayden, Frank
Sent: Friday, October 12, 2001 8:01 AM
To: Arnold, John; Maggi, Mike; May, Larry
Subject: New Power
For your radar screen, I'm hearing that New Power Company may want to hedge out exposure today. I'm unclear if it will be NYMEX, options or pipe options (T'CO)
Details are sketchy, once I know I'll pass it on
Frank
| ||
arnold-j/sent_items/548.
|
subject: FW:
content: -----Original Message-----
From: Arnold, John
Sent: Thursday, October 11, 2001 7:01 PM
To: Lavorato, John
Subject:
The y/y spreads have come in decently over the past week and a half. The 2/10 spread has moved from 104 to 94. It may be a good time to move the 3-10 to a cal 2 trade. Pira just gave their seasonal conference in NY and they are very bullish long term gas.
Pira's
forecast Nymex
Cal 2 2.45 2.99
Cal 3 3.00 3.31
Cal 4 3.70 3.40
Cal 5 4.00 3.48
Cal 6 4.10 3.57
Cal 7 4.20 3.66
Cal 8 4.30 3.75
Cal 9 3.60 3.84 (TransAlaska Highway Pipeline)
Cal 10 3.80 3.93
3-10 3.84 3.59
Regardless of what you think of Pira and long term price forecasts, the rest of the market does listen. They have a tremendous amount of respect in the industry and affect how customers and producers hedge. The flow, which has been buyers over for the way backs, I think will get more pronounced, especially if the front goes down.
In the past week, I've sold Duke 40,000/d Cal 6-10 and 25,000/d Cal 7-10. I've sold PGE maybe 30,000 day Cal 4-5. The only seller has been El Paso whom I believe is hedging production. He is trying to pressure the y/y spreads as a spec trade that I think was/is being done to front run the corp hedges. I've used it as an opportunity to put a lot of spreads away for inventory down the road. If you want to buy this strip back in the next 6 months, I think it's going to be much easier/cheaper to roll it closer.
| ||
arnold-j/sent_items/549.
|
subject: RE: Yahoo - GE Lighting Launches National Energy Program ...
content: [Arnold, John] We're working out today at 4:30
| ||
arnold-j/sent_items/55.
|
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/sent_items/550.
|
subject: RE: did you like the stew?
content: I hated it
-----Original Message-----
From: Allen, Margaret
Sent: Friday, October 12, 2001 4:00 PM
To: Arnold, John
Subject: did you like the stew?
| ||
arnold-j/sent_items/551.
|
subject:
content: 1. I'm going to see T Boone Tuesday
2. Fine me for Var for Friday. I promise I'll buy on Monday.
| ||
arnold-j/sent_items/552.
|
subject: RE: wednesday
content: How about 7:00
-----Original Message-----
From: "Bob Shiring" <[email protected]>@ENRON
Sent: Monday, October 15, 2001 8:09 AM
To: Arnold, John
Cc: Randy Aucoin
Subject: wednesday
See you wednesday at Sambuca. What time? Randy Aucoin will be joining
us. Really look forward to seeing you.
Bob
| ||
arnold-j/sent_items/553.
|
subject:
content: Joey:
Can you round the price of following EOL deals from 10/9 with Cargill to four decimals while keeping the spread price the same:
1985332
1985333
Thx,
John
| ||
arnold-j/sent_items/554.
|
subject: RE: I want my two dollars!
content: no clue. not a movie buff.
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 15, 2001 8:51 AM
To: Arnold, John
Subject: I want my two dollars!
Name the movie.
| ||
arnold-j/sent_items/555.
|
subject: RE:
content: 5-3-2
+255 - 120 = 135 your way
-----Original Message-----
From: Lavorato, John
Sent: Saturday, October 13, 2001 9:25 AM
To: Arnold, John
Subject:
i owe you 120 - wow
all 150
balt -1
tb +3
chic/ariz over 39.5
car +5
giants +11
sd +3
sf -3
miami -3
seattle +6.5
oak +3.5
| ||
arnold-j/sent_items/556.
|
subject: RE: I want my two dollars!
content: What money? I don't know what you're talking about
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 15, 2001 11:18 AM
To: Arnold, John
Subject: RE: I want my two dollars!
loser. it's 'better off dead' with John Cusack - popular when we were kids. unfortunately you were a dork and didn't play with the other kids your age, so you missed it. great line but means nothing if you haven't seen the movie.
can i come collect my $ from you today? i owe it to the box (it's a long story, i'll tell you later.) MSA
-----Original Message-----
From: Arnold, John
Sent: Monday, October 15, 2001 11:15 AM
To: Allen, Margaret
Subject: RE: I want my two dollars!
no clue. not a movie buff.
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 15, 2001 8:51 AM
To: Arnold, John
Subject: I want my two dollars!
Name the movie.
| ||
arnold-j/sent_items/557.
|
subject: RE: I want my two dollars!
content: I'll get it at lunch.
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 15, 2001 11:24 AM
To: Arnold, John
Subject: RE: I want my two dollars!
ha!ha! aren't you funny. looking.
-----Original Message-----
From: Arnold, John
Sent: Monday, October 15, 2001 11:23 AM
To: Allen, Margaret
Subject: RE: I want my two dollars!
What money? I don't know what you're talking about
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 15, 2001 11:18 AM
To: Arnold, John
Subject: RE: I want my two dollars!
loser. it's 'better off dead' with John Cusack - popular when we were kids. unfortunately you were a dork and didn't play with the other kids your age, so you missed it. great line but means nothing if you haven't seen the movie.
can i come collect my $ from you today? i owe it to the box (it's a long story, i'll tell you later.) MSA
-----Original Message-----
From: Arnold, John
Sent: Monday, October 15, 2001 11:15 AM
To: Allen, Margaret
Subject: RE: I want my two dollars!
no clue. not a movie buff.
-----Original Message-----
From: Allen, Margaret
Sent: Monday, October 15, 2001 8:51 AM
To: Arnold, John
Subject: I want my two dollars!
Name the movie.
| ||
arnold-j/sent_items/558.
|
subject: RE:
content: damn, thought you forgot
-----Original Message-----
From: Lavorato, John
Sent: Monday, October 15, 2001 12:15 PM
To: Arnold, John
Subject: RE:
plus 50 for the minni bet 185
-----Original Message-----
From: Arnold, John
Sent: Monday, October 15, 2001 11:16 AM
To: Lavorato, John
Subject: RE:
5-3-2
+255 - 120 = 135 your way
-----Original Message-----
From: Lavorato, John
Sent: Saturday, October 13, 2001 9:25 AM
To: Arnold, John
Subject:
i owe you 120 - wow
all 150
balt -1
tb +3
chic/ariz over 39.5
car +5
giants +11
sd +3
sf -3
miami -3
seattle +6.5
oak +3.5
| ||
arnold-j/sent_items/559.
|
subject: RE: Marc Findsen
content: exactly
-----Original Message-----
From: Palmer, Johnny
Sent: Tuesday, October 16, 2001 2:00 PM
To: Arnold, John
Subject: Marc Findsen
John,
I've spoken with Mark and I have received his resume. Before I bring him in I just wanted to confirm that he is to interview with Crude and Products originators as well as one trader. Please advise.
Thanks,
Johnny
| ||
arnold-j/sent_items/56.
|
subject: Re:
content: none
From:=09John J Lavorato/ENRON@enronXgate on 05/07/2001 07:46 AM
To:=09Phillip K Allen/HOU/ECT@ECT, John Arnold/HOU/ECT@ECT, Harry Arora/ENR=
ON@enronXgate, Berney C Aucoin/HOU/ECT@ECT, Edward D Baughman/ENRON@enronXg=
ate, Tim Belden/ENRON@enronXgate, Christopher F Calger/ENRON@enronXgate, De=
rek Davies/CAL/ECT@ECT, Mark Dana Davis/HOU/ECT@ECT, Joseph Deffner/ENRON@e=
nronXgate, Paul Devries/TOR/ECT@ECT, W David Duran/HOU/ECT@ECT, Chris H Fos=
ter/ENRON@enronXgate, Chris Gaskill/ENRON@enronXgate, Doug Gilbert-Smith/Co=
rp/Enron@ENRON, Rogers Herndon/HOU/ECT@ect, Ben Jacoby/HOU/ECT@ECT, Scott J=
osey/ENRON@enronXgate, Kyle Kitagawa/CAL/ECT@ECT, Fred Lagrasta/ENRON@enron=
Xgate, John J Lavorato/ENRON@enronXgate, Eric LeDain/CAL/ECT@ECT, Laura Luc=
e/Corp/Enron@Enron, Thomas A Martin/ENRON@enronXgate, Jonathan McKay/CAL/EC=
T@ECT, Ed McMichael/HOU/ECT@ECT, Don Miller/ENRON@enronXgate, Michael L Mil=
ler/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, Fle=
tcher J Sturm/HOU/ECT@ECT, "Swerzbin, Mike" <[email protected]>@SMTP=
@enronXgate, C John Thompson/ENRON@enronXgate, Carl Tricoli/Corp/Enron@Enro=
n, Barry Tycholiz/NA/Enron@ENRON, Frank W Vickers/NA/Enron@Enron, Lloyd Wil=
l/HOU/ECT@ECT, Greg Wolfe/ENRON@enronXgate, Max Yzaguirre/NA/Enron@ENRON, J=
ohn Zufferli/CAL/ECT@ECT
cc:=09=20
Subject:=09
I asked everyone for their A/A needs and received very little feedback. Pl=
ease respond promptly.
Thanks =20
John
| ||
arnold-j/sent_items/560.
|
subject: RE:
content: you got robbed...
-35
-----Original Message-----
From: Lavorato, John
Sent: Monday, October 15, 2001 2:25 PM
To: Arnold, John
Subject:
current 185
200 over 37 dallas/wash
| ||
arnold-j/sent_items/561.
|
subject: RE: Pira
content: it's the one thing that could really hit the market. There are a lot of gas hedges on against those trades. If they are torn up, a lot of gas in the back gets sold off hard. Plus, The dynegys of the world lose $1 on their hedges.
-----Original Message-----
From: Zivic, Robyn
Sent: Wednesday, October 17, 2001 6:42 AM
To: Arnold, John
Subject: RE: Pira
beliefs
-----Original Message-----
From: Arnold, John
Sent: Thursday, October 11, 2001 7:44 PM
To: Zivic, Robyn
Subject: RE: Pira
any substance to their argument or just their beliefs.
-----Original Message-----
From: Zivic, Robyn
Sent: Thursday, October 11, 2001 10:27 AM
To: Arnold, John
Subject: Pira
Thinks pwr suppliers in Calif shud be worried abt getting paid the long term contracts rates
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
| ||
arnold-j/sent_items/562.
|
subject:
content: tom o'grady - aquilla - 861-527-1564
| ||
arnold-j/sent_items/563.
|
subject: RE:
content: me, me, me....you girls are all the same
-----Original Message-----
From: Slone, Jeanie
Sent: Tuesday, October 16, 2001 4:58 PM
To: Arnold, John
Subject:
hey stupid-it is almost yr-end. please do your mid-year reviews or i'm never going to squeeze limes for you again.
i can't believe i've been reduced to pathetic begging and empty threats. you're killing me.
| ||
arnold-j/sent_items/564.
|
subject: RE: Neural Networks
content: do you have any time today around 5?
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Friday, October 12, 2001 9:56 AM
To: Arnold, John
Subject: RE: Neural Networks
John, I dropped by yesterday and it looked like your meeting went over. I can drop by after market today or monday.
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
-----Original Message-----
From: Arnold, John
Sent: Wednesday, October 10, 2001 5:58 PM
To: Thuraisingham, Ravi
Subject: RE: Neural Networks
Any time tomorrow afternoon around 3 or 4:45 to discuss?
| ||
arnold-j/sent_items/565.
|
subject:
content: Darren:
I think Dutch Quigley spoke to you about an individual who is trying to get set up with EOL for his personal account. The person is Tony Annunziata from the Smith Barney AAA fund. He meets the suitability tests as far as net worth and knowledgable investor. He is also willing to post via LC or wire. I gave him your number. I would appreciate if you could expedite his credit application.
Thanks,
John
| ||
arnold-j/sent_items/566.
|
subject: RE: market
content: stg adjusted means factoring in cost of carry and taxes
stg curve looks more realistic in market areas when you add basis on.
-----Original Message-----
From: Abramo, Caroline
Sent: Wednesday, October 17, 2001 9:50 PM
To: Arnold, John
Subject: RE: market
john- thank you.. what do you mean by storage adjusted prices? and also comment on non-discretionary stg at peak times.. why in producing region?
-----Original Message-----
From: Arnold, John
Sent: Tue 10/16/2001 11:03 PM
To: Abramo, Caroline
Cc:
Subject: RE: market
Thanks.
Surprised your shorts are still so confident. Trade shorts are quickly losing confidence based upon cash, shape of curve, and momentum. I think curve flattens a little more and then comes down in parallel shift down.
1. jan and feb are highest storage adjusted prices on curve. For market area sales, add on basis and dec and march are next. Question is whether there is enough non-discretionary stg to meet load at other times and in the producing region. A lot of stg has to come out either for tariff or engineering reasons. Million dollar question.
2. Think Nov bidweek will be weak. Don't know who baseload buyers are unless trade gets bullish. Nov is a relatively flat month as far as injections. stg operators dont have room to buy baseload gas and I think utilities will be planning to meet load using stg. At current prices, producers apply more pressure to wells, lng doesnt get diverted again, lose some load to resid, lose any momentum of industrial load coming back. Dont think gas market can handle that.
3. No clue.
-----Original Message-----
From: Abramo, Caroline
Sent: Tue 10/16/2001 10:21 PM
To: Arnold, John
Cc:
Subject: market
awesome call on cash.. it does not get any better than that.. you picked the bottom- i am getting it slowly.. lots of calls today from people i do not speak to every day.. not too much panic from guys who are short.. most looking to put more on.. selling dec01 outright or buying gas daily puts on dec and jan... except pulaski who pared down dec01 short with us from 4000 to 1000.. do not think he's got on alot elsewhere. no one has anything on longer dated.. no one can figure out economy...
questions:
1. why would any of the discretionary storage operators withdraw gas in the winter based on the current curve?
2. where do you think index gets set this month? i am thinking that utilities will overestimate loads for Nov01 and buy more during bidweek.. index gets set high and depending on Nov weather.. it could come back onto the market weakening cash again..
3. do you have a view on eastern power for the winter? i do not understand the market drivers in the winter.
thanks very much,
c
| ||
arnold-j/sent_items/567.
|
subject: RE: From Pros Revenue Mgmt
content: Tell him I'm free to meet Oct 19, 2085 at 2:00 AM. See if that's ok with him.
-----Original Message-----
From: Rangel, Ina
Sent: Wednesday, October 17, 2001 4:56 PM
To: Arnold, John
Subject: From Pros Revenue Mgmt
John,
This guy has been trying to get in touch with you the last few days and I have been intercepting his calls. I told him to email me the correspondance and I would make sure you received it. Is this anything that would be of interest to you?
-Ina
-----Original Message-----
From: Mark Sullivan [mailto:[email protected]]
Sent: Wednesday, October 17, 2001 4:47 PM
To: Rangel, Ina
Subject: PROS Revenue Management: Energy Profit Optimization Workshop
Dear Ina,
Please forward the following to John Armold:
John, my name is Mark Sullivan with PROS Revenue Management and we are the
world's leader in revenue management technology for the airline and energy
industries, among others. On Monday, November 5, in Houston we will be
holding an Energy Profit Optimization Workshop which will demonstrate how
you can use revenue optimization technology to increase your revenues by
10-25% in EACH of your Trading, Transportation and Storage operations while
also reducing your operating costs. This workshop has proven to be a
significant career enhancing event for people in the energy field,
particularly at the Senior Trader level, and I strongly encourage you to
attend. I would be happy to tell you more about it if you would call me
back at 713-335-5812 or you can visit our website at www.prosrm.com which
provides more information, directions and free registration.
Best regards,
Mark
Mark F. Sullivan
Director Business Development
PROS Revenue Management, Inc.
email: [email protected]
Ph: (713) 335-5812, Fax: (713) 335-8144
---------
This e-mail is for the designated recipient only and may contain privileged
or confidential information. If you have received it in error, please notify
the sender immediately and delete the original. Any other use of this e-mail
is prohibited.
| ||
arnold-j/sent_items/568.
|
subject: RE: PIRA Gas Survey
content: I referred him to Lavorato
-----Original Message-----
From: Scott, Eric
Sent: Thursday, October 18, 2001 2:18 PM
To: Arnold, John
Subject: PIRA Gas Survey
Shuttlesworth just called me again regarding Enron's feelings to a PIRA gas storage survey. I gave him your number and told him to call you directly.
Eric
| ||
arnold-j/sent_items/569.
|
subject:
content: Liz:
Just wanted to thank you for the astros playoff tix. Thanks for thinking of me. Maybe you'll invite me up to see your new digs before the move....
John
| ||
arnold-j/sent_items/57.
|
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/sent_items/570.
|
subject: FW: Neural Networks
content: This guy is working on an EOL project for me right now. Can you send him a file with our EOL trades for today or yesterday with product, price, buy/sell, and timestamp but counterparty names deleted
-----Original Message-----
From: Thuraisingham, Ravi
Sent: Thursday, October 18, 2001 4:26 PM
To: Arnold, John
Subject: RE: Neural Networks
John, just a reminder, please send a sample gapping data when you get a chance.
Ravi Thuraisingham, CFA
Director, Storage Trading
Enron Broadband Services
p 713.853.3057
c 713.516.5440
pg 877.680.4806
[email protected]
| ||
arnold-j/sent_items/571.
|
subject: RE: Discussion Time
content: 3:00 up here
-----Original Message-----
From: Ligums, Jeb
Sent: Friday, October 19, 2001 9:23 AM
To: Arnold, John
Subject: Discussion Time
John,
Please let me know what time to come up this afternoon. Thanks-Jeb x-5-3609
| ||
arnold-j/sent_items/572.
|
subject:
content: I want to have a group mtg from 4:00-5:00 today to discuss some of the enron issues and then vol if we have a chance.
| ||
arnold-j/sent_items/573.
|
subject:
content: so how'd it go in NY?
| ||
arnold-j/sent_items/574.
|
subject:
content: Just wanted to thank you for the gift basket. I usually don't like them because they have crappy wine, but that was actually a really good bottle. Sat out on my patio last night drinkning wine and eating cheese and fruit. Thanks.
| ||
arnold-j/sent_items/575.
|
subject: RE:
content: 3-5
-----Original Message-----
From: Lavorato, John
Sent: Sunday, October 21, 2001 2:30 PM
To: Arnold, John
Subject:
DENVER -3
ARIZ +2.5
MINN +3.5
PHILI +9 UNDER 41.5 TEASE
ALL 150
| ||
arnold-j/sent_items/576.
|
subject: RE:
content: Louise has no problem as long as approved by legal and credit
-----Original Message-----
From: Vanek, Darren
Sent: Friday, October 19, 2001 11:22 AM
To: Arnold, John
Subject: RE:
John-
Have you had the chance to speak to Louise about individuals trading on EOL?
-----Original Message-----
From: Arnold, John
Sent: Wednesday, October 17, 2001 4:41 PM
To: Vanek, Darren
Subject:
Darren:
I think Dutch Quigley spoke to you about an individual who is trying to get set up with EOL for his personal account. The person is Tony Annunziata from the Smith Barney AAA fund. He meets the suitability tests as far as net worth and knowledgable investor. He is also willing to post via LC or wire. I gave him your number. I would appreciate if you could expedite his credit application.
Thanks,
John
| ||
arnold-j/sent_items/577.
|
subject: RE: Apology
content: Since I have no idea what you're talking about, I guess I was a little drunk.
-----Original Message-----
From: Brawner, Sandra F.
Sent: Monday, October 22, 2001 12:38 PM
To: Herndon, Rogers; Schwieger, Jim; Martin, Thomas A.; Arnold, John
Cc: Brawner, Sandra F.
Subject: Apology
Where do I begin? I guess I could start with several excuses or reasons to justify my behavior on Friday, but the truth is there aren't any. I only am left with total humiliation and embarrassment for my actions, words, and behavior. Please accept my sincere apology.
Sandra
| ||
arnold-j/sent_items/578.
|
subject: RE: ene
content: can you buy 10,000,000 more please
-----Original Message-----
From: "Piasio, Stephen [FI]" <[email protected]>@ENRON
Sent: Monday, October 22, 2001 2:10 PM
To: 'enron/john arnold'
Subject: ene
I just bought ENE at 20.20. I think its called "opportunity".
| ||
arnold-j/sent_items/579.
|
subject:
content: do you want to go to learn what happened or do you want to go yell at those guys/see those guys get yelled at?
| ||
arnold-j/sent_items/58.
|
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/sent_items/580.
|
subject:
content: Daniel:
Can you include me in the nymex nat gas advisory panel meeting today?
John Arnold
Enron
| ||
arnold-j/sent_items/581.
|
subject: FW: Natural update
content: -----Original Message-----
From: "Mark Sagel" <[email protected]>@ENRON
Sent: Tuesday, October 23, 2001 10:14 AM
To: John Arnold
Cc: Mike Maggi
Subject: Natural update
Just a followup to our phone call earlier this morning. Have begun to see short-term intraday topping patterns. Natural has reached its mid-range of price objectives. See no rationale for holding significant length here. Winter months seem especially high and most vulnerable to correction. The first hour's negative close produced a sell signal against today's high. Still too early to ascertain if this is the end of entire up move. Have targets into early next week, but mkt. has reached where it needed to.
| ||
arnold-j/sent_items/582.
|
subject: RE: ENA External Interviews
content: I had yes to Zaun and no to the others
-----Original Message-----
From: Engler, Adrianne
Sent: Tuesday, October 23, 2001 9:13 AM
To: Arnold, John
Cc: Buckley, Karen
Subject: ENA External Interviews
Good Morning John -
Below is the result of Harry Aurora's conversations with the candidates...
Please respond if you agree/disagree or other comments....
Michael Scarlata - MAYBE
Donald Timpanaro - NO
Jeffrey Zaun - YES
Thank you,
Adrianne
x57302
| ||
arnold-j/sent_items/583.
|
subject: RE:
content: schweiger's been preparing for that mtg since wednesday. how do you think lay/whalley did?
-----Original Message-----
From: White, Bill
Sent: Wednesday, October 24, 2001 7:33 AM
To: Arnold, John
Subject: RE:
I wanted to see how they would handle themselves - glad i did. I guess Schweig did all the yelling for everyone....
-----Original Message-----
From: Arnold, John
Sent: Tuesday, October 23, 2001 8:23 AM
To: White, Bill
Subject:
do you want to go to learn what happened or do you want to go yell at those guys/see those guys get yelled at?
| ||
arnold-j/sent_items/584.
|
subject:
content: spinnaker, one of fred's customer's , unwound a hedge today because they dont want exposure to us.
| ||
arnold-j/sent_items/585.
|
subject: RE: C4 trade
content: not mad at you
-----Original Message-----
From: "Andy Colman" <[email protected]>@ENRON
Sent: Thursday, October 25, 2001 9:52 AM
To: Arnold, John
Subject: C4 trade
Jon, can't say it on the desk in front of Matt. I had nothing to do with that trade. I cover your line so I had to make the call. I am not out here taking garbage about Enron or anything like that. That's why I called Brian in London to call you. Please beleive me. That was arranged between them. I work neither Phibro or EKoch.
Andy Colman (Spectron)
| ||
arnold-j/sent_items/586.
|
subject: FW: Enron Mentions
content: -----Original Message-----
From: Schmidt, Ann M.
Sent: Thursday, October 25, 2001 1:22 PM
Subject: Enron Mentions
Fitch Puts Enron On Rating Watch Negative
Bloomberg, 10/25/01
STOCKWATCH Enron higher after dismissing CFO Fastow
AFX News, 10/25/01
DJ Concerned Energy Cos Make Few Changes In Enron Dealings
2001-10-25 14:13 (New York)
Calif Guarantees Allow Williams To Book Power Revenues
Dow Jones Energy Service, 10/25/01
Stocks Expected to Open Lower, Hurt By Weak Economic News
Dow Jones Business News, 10/25/01
Kaplan Fox Seeks To Recover Losses For Investors Who Purchased E
Bloomberg, 10/25/01
Enron CNBC: Squawk Box,
10/25/01
Fitch Puts Enron On Rating Watch Negative
2001-10-25 13:49 (New York)
Fitch Puts Enron On Rating Watch Negative
Fitch-NY-October 25, 2001: Fitch places the following Enron
securities on Rating Watch Negative: senior unsecured debt
`BBB+'; subordinated debt `BBB'; preferred stock `BBB-`;
and commercial paper `F2'. Pipeline subsidiary `A-` rated
senior unsecured debt at Northern Natural Gas Co. and
Transwestern Pipeline Co., are also placed on Rating Watch
Negative.
The rating action primarily relates to the negative capital
market reaction to recent disclosures by the company. The
loss of investor and counterparty confidence, if it
continues, would impair Enron's financial flexibility and
access to capital markets, therefore, impacting its ability
to conduct its business. On Oct. 16, 2001, Enron announced
a $1 billion after-tax charge to earnings to be taken in
the third quarter of 2001 and a reduction of balance sheet
equity by $1.2 billion relating to the unwinding of
structured transactions. Since that time, there have been
several damaging news reports on the company and its
management. More importantly, investors have voiced
concerns. Enron's common stock price has plummeted and
spreads on its debt have widened.
The company has attempted to quell rumors and has publicly
stated that it has adequate liquidity to conduct its
business. Approximately $1.5 billion of unused liquidity is
available under committed bank lines.
An additional concern is that certain structured
transactions of the company including Marlin Water Trust II
and Osprey could unwind. While various sources of repayment
exist, such as the sale or liquidation of underlying
assets, or an equity offering, primary credit support is
derived from the Enron obligation to remarket mandatorily
convertible preferred stock if an amount sufficient to
repay the notes has not been deposited with the trustee 120
days prior to the maturity date or upon a note trigger
event. In the event that the issuance of the preferred
stock yields less than the amount required to redeem the
senior notes in either case, Enron is required to deliver
additional shares. If Enron cannot or does not deliver on
its obligation, then the amount of the deficiency becomes a
payment obligation of Enron, representing a general
unsecured claim. While trigger events include a downgrade
of Enron's senior unsecured debt below investment grade by
one of the major rating agencies in conjunction with
specified declines in Enron's closing stock price over
three consecutive trading days, Enron would have a
forebearance period of 60 days as long as an attempt was
being made to register the shares. The total amount of
Marlin and Osprey debt is approximately $3.2 billion. Enron
has not verified that the underlying assets have adequate
market value to fully pay down the associated debt.
While capital market uncertainties have escalated, Fitch
has no information to indicate that there are any
fundamental problems with Enron's core wholesale, retail,
and pipeline businesses. Fitch expects to be in contact
with the company on a continuing basis to both monitor
ongoing events and address strategic, longer-term issues.
STOCKWATCH Enron higher after dismissing CFO Fastow
10/25/2001
AFX News
(c) 2001 by AFP-Extel News Ltd
NEW YORK (AFX) - Share of Enron were higher in opening trade, after the company dismissed its chief financial officer, Andrew Fastow, due to his past involvement in running two partnerships, in which Enron had invested, dealers said.
At 9.56 am, Enron was up 1.13 usd, or 6.95 pct, at 17.55. The DJIA was down 138.60 points at 9,207.52, the S&P 500 index was down 15.95 pts at 1,069.00 and the Nasdaq composite down 39.02 at 1,692.52.
Enron said it named Jeff McMahon CFO to replace Fastow, after announcing Monday that the Securities and Exchange Commission is looking into the Fastow-related transactions.
"In my continued discussions with the financial community, it became clear to me that restoring investor confidence would require us to replace Andy as CFO," said chief executive Kenneth Lay in a statement.
Enron shares have fallen sharply in recent days on concerns over financial transactions made with the two partnerships, LJM Cayman LP and LJM2 Co-Investment LP, which analysts said could affect future earnings and which have prompted class action suits against the company.
McMahon, who had been serving as chairman and CEO of Enron's Industrial Markets group, had quit his job as treasurer last year, after voicing concerns within the company about Fastow's role in running the two partnerships, according to the Wall Street Journal.
This morning, Salomon Smith Barney analyst Raymond Niles downgraded Enron to "buy- speculative," from "buy-high risk", to reflect his concerns that "lingering uncertainty over financial practices may begin to impair Enron's commercial operations."
"This is the least likely outcome, in our view, but one whose likelihood has increased over the last week as questions continue to be asked," he said.
ng/lj For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
=DJ Concerned Energy Cos Make Few Changes In Enron Dealings
2001-10-25 14:13 (New York)
By Mark Golden, Kristen McNamara, Jon Kamp and John Edmiston
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Energy trading companies have concerns about the credit
quality of troubled Enron Corp. (ENE), but they have made almost no changes in
policies concerning the top trader of North American power and gas, the
companies said Thursday.
The concerns have arisen because Enron, which accounts for about a quarter of
the trade in the country's power and gas markets, has seen its share price fall
by a third this week due to uncertainties about its extremely complex financial
structure.
Moody's has put Enron's credit on watch for possible downgrade, and some of
the company's debt is trading like junk bonds in the secondary market this
week.
"We have made no changes to our credit policy concerning Enron," said John
Sousa, chief spokesmann for Dynegy Inc. (DYN). "It's business as usual."
Williams Cos. (WMB) spokesman Jim Gipson said that his company, too, has made
no changes and has no concerns about Enron's credit. Another Top 10 power and
gas trading company, Aquila (ILA), has also left Enron credit unchanged.
Other companies expressed concern, though they've taken little if any action.
"Like everyone else in the marketplace, we're proceeding with caution," said
Lora Kinner, director of credit for Tractebel Energy Marketing, the North
American subsidiary of the Belgian company Tractebel S.A.
Kinner said the company is just looking for more information and doesn't
expect to make any drastic changes.
Calif Guarantees Allow Williams To Book Power Revenues
By Andrew Dowell
Of DOW JONES NEWSWIRES
10/25/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Clarifications by California as to what electricity transactions the state will back enabled Williams Cos. (WMB) to book $180 million in power sales from the previous period as third-quarter revenues, the company said Thursday.
The revenues came from power Williams sold through the California Independent System Operator, which runs the state's wholesale power market and clears and settles transactions.
The state of California has paid more than $11 billion for power bought directly from suppliers, but has yet to pay for any ISO power since it took over the job of buying power for the state's ailing utilities in mid-January. Two weeks ago, however, the state made clear for the first time which ISO transactions it would back.
"It's that fact that has allowed us for the first time to recognize dollars from sales to the California ISO," Williams Chief Operating Officer Steven Malcolm said on a conference call Wednesday.
Williams reported third-quarter net income of $221.3 million on revenues of $2.81 billion, up from $121.1 million on revenues of $2.33 billion in the same period the year before.
Williams is now in talks with California to secure payment for its ISO sales. The process is complicated by the state's role as guarantor of transactions undertaken on behalf of the utilities, which aren't creditworthy enough to buy power for themselves. The ISO didn't envision third-party guarantors when it set up its settlement process, and state accounting rules require more detailed bills than those sent out by the ISO each month, state power officials have said.
The state says it has set aside $1.2 billion to cover ISO transactions.
As reported, suppliers including Williams had charged the state with deliberately muddling the repayment issue to keep power flowing for free.
Willing To Renegotiate
Separately, Williams' officers also said the company was willing to discuss reworking its long-term contracts with California, provided the result benefited both parties.
California Gov. Gray Davis is under heavy fire for having locked the state into contracts running as long as 20 years at prices negotiated at the peak of a market that has since collapsed.
Both sides could potentially benefit from changes to the length of the term of the contracts or the specifics of power-supply obligations - perhaps freeing up supply that Williams thinks it could get more money for on the spot market, Malcolm said.
"We're always willing to sit down with a customer," Malcolm said.
Williams hasn't been approached by the state to renegotiate the contracts, Malcolm said.
Any attempt by California to force through one-sided changes is unlikely and could backfire for the state by disrupting plans for new power plants, he said.
"To the extent contracts are changed, financing is going to go away," he said.
Downplaying Enron Opportunities
Williams downplayed its ability to capitalize on the recent troubles of market-leader Enron Corp. (ENE), saying it focuses on large, long-term structured deals, not the high-volume, physical-market transactions that Enron dominates, Malcolm said.
Also, TradeSpark - the Internet-based energy exchange in which Williams is a partner - is limited for now in its ability to expand and take volume from Enron's proprietary system EnronOnline because of the horrific losses operator Cantor Fitzgerald (X.CFZ) suffered in the attacks on the World Trade Center.
"That's interrupted the rapid growth we were seeing," Williams Chief Executive Keith Bailey said on the call.
Enron, which accounts for about a quarter of the trade in the country's power and gas markets and which makes a market for those commodities on EnronOnline, has seen its share price fall by a third this week due to uncertainties about its extremely complex financial structure.
Those concerns have raised questions about the business model of EnronOnline, a platform on which Enron is the counterparty in all trades. Those concerns could eventually boost volume on neutral exchanges like TradeSpark.
"We continue to believe in the neutral platform that TradeSpark offers," Malcolm said.
TradeSpark LP was formed by eSpeed Inc. (ESPD), Cantor Fitzgerald (X.CFZ), Shell (RD) unit Coral Energy, Dominion (D), Koch Energy Trading Inc., TXU Corp.'s (TXU) TXU Energy unit and Williams Cos.' Williams Energy Marketing & Trading Co.
-By Andrew Dowell, Dow Jones Newswires; 201-938-4430; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Stocks Expected to Open Lower, Hurt By Weak Economic News
10/25/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
A Wall Street Journal Online News Roundup
Stocks are expected to open with losses Thursday, weighed down by disappointing U.S. economic news and the European Central Bank's decision to leave interest rates unchanged.
About an hour before the New York Stock Exchange opened, futures on the Standard & Poor's 500-stock index were sharply lower, suggesting that the Dow Jones Industrial Average will post a 94-point loss at the opening bell.
In one of a trio of negative economic reports, the Commerce Department said orders for durable goods, or products expected to last more than three years, tumbled 8.5% in September. That was a much steeper drop than the 0.9% decline forecast by economists surveyed by Thomson Global Markets.
Meanwhile, the Labor Department reported that the number of Americans filing new claims for state unemployment insurance rose to 504,000 for the week ended Oct. 20. That was more than the 500,000 jobless claims expected by economists.
The Labor Department also said that the employment-cost index rose 1% in the third quarter, slightly more than expected. The indicator measures changes in compensation costs, including wages and salaries, as well as costs for employee benefits.
Later, at 10 a.m. EDT, the National Association of Realtors is expected to say that 5.26 million existing homes were sold last month, down from the 5.5 million sold in August.
Prior to release of the economic news, S&P futures had pointed to a weaker opening on Wall Street, after the ECB left rates alone despite growing political pressure for another rate cut to help the stumbling European economy.
In addition to pouring over Thursday's economic reports, investors will spend much of the session sorting through a mountain of earnings reports, said Peter Cardillo, director of research at Westfalia Investments.
Among companies that announced quarterly earnings so far, Dow Chemical said third-quarter net income plunged 84%, hurt by weak demand, substantial price declines and a slew of charges mostly related to acquisition expenses and restructuring at Dow Corning.
Among other stocks to watch, Enron on Wednesday replaced its finance chief, Andrew Fastow, capping a tumultuous day in which the Houston powerhouse saw its stock price continue to fall sharply.
States suing Microsoft are hiring one of the nation's top trial lawyers, signaling they may seek a harsher antitrust remedy than the White House. Meanwhile, the software giant's Windows XP formally makes its debut Thursday.
In key overseas markets, stocks were mixed. London's Financial Times-Stock Exchange 100-Share Index was down 1.2% in intraday trading, while Frankfurt's DAX was 0.9% lower. Earlier in the day, Japan's Nikkei 225 average closed with a gain of 0.7%, and Hong Kong's Hang Seng Index rose 0.2%.
In Wednesday's session, Wall Street continued to shrug off disappointing earnings news, and focused instead on hopes that low interest rates and the government's economic-stimulus program will produce a recovery.
Technology issues saw much of the buying, with the Nasdaq Composite Index rising 27.10 points, or 1.6%, to 1731.54. The Dow industrials inched 5.54 points, or 0.1%, higher to close at 9345.62, despite substantial losses in two of its components, Eastman Kodak and AT&T, which issued weak outlooks.
In major U.S. market action Wednesday:
Major stock indexes advanced. But on the Big Board, where 1.34 billion shares traded, 1,374 stocks rose and 1,743 fell. On the Nasdaq, 1.89 billion shares changed hands.
Bonds gained. The 10-year Treasury note rose 13/32, or $4.0625 for each $1,000 invested. The yield, which moves inversely to price, fell to 4.588%. The 30-year bond was up 23/32 to yield 5.330%. Early Thursday, the 10-year note was up 10/32 to yield 4.553% while the long bond was 17/32 higher, yielding 5.303%.
The dollar was mixed. Late in New York, it traded at 122.87 yen, up from 122.68, while the euro rose against the dollar to 89.35 U.S. cents from 89.07. Early Thursday in New York, the dollar bought 123.17 yen and traded at 88.27 cents to the euro.
For continuously updated news from The Wall Street Journal, see WSJ.com at http://wsj.com.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Kaplan Fox Seeks To Recover Losses For Investors Who Purchased E
2001-10-25 12:07 (New York)
Kaplan Fox Seeks To Recover Losses For Investors Who Purchased Enron
Corp. Common Stock
NEW YORK, NY -- (INTERNET WIRE) -- 10/25/01 -- Kaplan Fox
(kaplanfox.com) has filed a class action against Enron Corp. and
certain of the Company's officers and directors in the United States
District Court for the Southern District of Texas. The suit is
brought on behalf of all persons or entities who purchased the common
stock of Enron Corporation ("Enron") (NYSE: ENE) between January 18,
2000 and October 17, 2001, inclusive (the "Class Period").
The complaint charges Enron Corp. and certain of its officers and
directors with violations of the Securities Exchange Act of 1934.
The complaint alleges that during the Class Period, defendants
engaged in asset and securities sales to closely related affiliates
and interested parties, which disguised Enron's true financial
position. Many of the details of these transactions were hidden from
the public. Defendants used these asset sales to falsely improve
Enron's balance sheet, thereby maintaining Enron shares at an
artificially inflated price. Certain Enron executives, who held
positions in the affiliates that presented clear conflicts of
interest, reaped millions of dollars in personal gains from these
transactions.
The complaint further alleges that during the Class Period, Defendants
made misleading statements regarding the potential value of Enron's
Broadband business, in order to artificially boost Enron's share
price. With knowledge that Enron's Broadband business would never
post a profit and was seriously overvalued, Defendants continued to
make misleading statements about the Broadband business in order to
maintain the share price at its artificially inflated levels.
Defendants used the artificially inflated value of Enron's Broadband
business to hedge against, in order to gain millions of dollars in
financing. Defendants failed to disclose the risk of these financing
arrangements. Defendants hid the true nature of Enron's earnings,
its hedging, its businesses, and the correct state of Enron's
finances from its investors and the market, further artificially
inflating Enron's share price. While the stock was artificially
inflated for the above reasons, Enron executives engaged in extensive
insider trading, gaining personal proceeds of approximately $482
million during the Class Period, before the public became aware of
the above practices.
Plaintiff seeks to recover damages on behalf of the Class and is
represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices
in New York, San Francisco, Chicago and New Jersey has many years of
experience in prosecuting investor class actions and actions
involving financial fraud. For more information about Kaplan Fox &
Kilsheimer LLP, you may visit our website at www.kaplanfox.com
If you are a member of the Class, you may move the court no later than
December 21, 2001 to serve as a lead plaintiff for the Class. In
order to serve as a lead plaintiff, you must meet certain legal
requirements.
If you have any questions about this Notice, the action, your rights,
or your interests, please e-mail us at [email protected] or contact:
Kaplan Fox & Kilsheimer LLP - 805 Third Avenue, 22nd Floor - New York,
NY 10022
Kaplan Fox & Kilsheimer LLP - 100 Pine Street, 26th Floor - San
Francisco, CA 94111
Contact: Frederic S. Fox, Esq., Kaplan Fox & Kilsheimer LLP
Phone: 800-290-1952
Fax: 212-687-7714
Email: [email protected]
Date October 25, 2001
Time 07:00 AM - 08:00 AM
Station CNBC
Location Network
Program The Squawk Box
Mark Haines, co-anchor:
Joe Kernen, what's going on?
Joe Kernen, co-anchor:
We've got to shift gears into this Enron situation which
has just been--you've been talking about it quite a bit,
David--how could you not talk about it? Seventy-six
million shares yesterday, down fifty percent in the last
two weeks. This is a company with--what?--a hundred
million in revenues.
James Cramer, guest market commentator:
Maybe.
Kernen: Yeah, right. Anyone who does any trading in
energy apparently, you know, uses Enron Online, so anything
that destabilizes Enron to a great extent could destabilize
the whole energy trading arena and...
Cramer: Go ahead, say it! Say what you're thinking! No
one has said it yet. We know the truth. We believe that
Enron caused a national short squeeze. They knew every
single number in this gas situation. They wrecked the
California utility system and profited from it. That's my
bet. My bet that this--they had--look, they were the
market maker. Imagine if Instinet knew what you were going
to be buying and took it ahead of you. I think they
cornered the market for electricity for about four months,
made a huge fortune and now the company is unraveling and
when someone--when the Justice Department gets in there
we're going to discover this.
Kernen: Let's see what happened...
Haines: Now, wait a second...
David Faber, co-anchor:
Whoa, whoa, whoa! The Justice Department, Jim? Now, is
that new? Is that something--
Cramer: No, that would be, if I were a prosecutor,
something...
Faber: OK, so they are not being investigated?
Cramer: Well, no, I'm actually being a little forward
thinking.
Kernen: The SEC wants documents about the limited
partnership transactions of Mr.--
Faber: Which is very different from what Jim is talking
about.
Cramer: No, I'm saying that this is what, if I were an
enterprising prosecutor, I would say, Did we have a
nationwide short squeeze in electricity caused by one
company that had access to all the screens and knew exactly
what was happening with the electricity market which then
wrecked the California utility system, cost the consumer
billions of dollars, and is now being hushed up?
Kernen: Well, let's talk about the actual news. Here's
yesterday's trading--
Haines: Wait a minute.
Kernen: Well, I just want to say that the guy is gone now.
That's the new news here. Did you read--did you know that
Fastow, after four--
Faber: Late yesterday.
Kernen: Yeah, after four o'clock, Fastow is gone. What's
interesting--
Faber: He's the CFO--
Kernen: But he's a new CFO.
Faber: --who benefitted personally from some of these
off balance sheet partnerships.
Cramer: Mark, you know, I'm not on thin ice here, I'm not
on thin ice.
Haines: I just want to make sure we understand that this
is your theory.
Cramer: This is my theory.
Haines: OK.
Cramer: It is just a theory. It is my opinion. But I
think we've got to find out more about that short squeeze
that occurred.
Haines: OK.
Cramer: We need to find out whether it was orchestrated.
Kernen: The new CFO might help regain some credibility for
the company because he was the old treasurer who left that
position a year or so ago because of some disagreements
with how Mr. Fastow was doing business apparently. So now
he's back as CFO and we'll whether that calms the market
down.
Faber: Well, what they need to do-- Joe, they need to come
clean. I mean, that is what all the investors in Enron and
those who've left the company as investors over this last
week have wanted. Let's see everything; be as transparent
as you possibly can be; tell us exactly what we need to
know. And as much as they need to come clean with their
investors, they need to come clean with their trading
counterparties because that is really what people are
concerned about.
Kernen: Why is the credit worthiness issue such a big
deal? Anyone who does trading with them, if their credit
worthiness were to go--if their credit rating were to go
down, how would that affect energy trading?
Faber: Well, you want to know that they're going to be
there on the other side and make good on the trades.
Kernen: I guess you would, wouldn't you?
Faber: Right. Not that they aren't, but why would you--if
you can trade with seven other guys--seven other companies,
maybe you cut back a little bit on your exposure there.
Kernen: Now, why would--
Faber: And that would hurt their core business.
Kernen: Why are people expecting some type of action from
the credit agencies, not because of the stock price, right?
Because of something that could unravel--
Faber: Because of something related to these liabilities
they may have--
Kernen: That they don't know about at this point.
Faber: --that they may have with regard to funding some of
these off balance sheet partnerships that they backstopped
in terms of borrowing that went on at the project level at
the off balance sheet partnership. Will it be a liability?
They don't know. But that's one of the reasons--
Kernen: We're talking hundreds of millions or billions?
Faber: They don't know.
Kernen: But there were billions of dollars in limited
partners?
Faber: Yes. About three billion in financing, I think is
what some analysts estimated.
Kernen: This is a pretty big number.
Faber: Yeah, they can get to most of that with the assets
that they have in the partnerships themselves.
Kernen: I use a six month chart to show what's happened
over the last two weeks. You got to look at here. But if
we went back a year, you'd see eighty as far as the high
for Enron. Now we're at sixteen.
Faber: Everybody else took a hit yesterday. Dynegy got
hurt.
Kernen: Well, I got Dynegy next. Don't-- Here we go.
Faber: I'm sorry. I'm getting a little excited.
Kernen: You are.
Faber: Enthusiastic about your charts.
Kernen: There's a weekly chart of Dynegy, and you know
what's coming next, don't you? Now I'm worried about the
utility average. I've worried about the transportation
average a lot in my career. Mark, now the utilities have
replaced my worries. I'm angst-ridden. Did you see this
chart? We're breaking below the--
Cramer: That's a positive, not a negative, Joe.
Kernen: What's wrong with Cramer today? What happened?
Cramer: I'm all fired up!
Faber: He really is. My, God, he's got the DOJ getting
all crazy, the FBI, the CIA. You going down to En--you
going down to Houston yourself?
Cramer: I may just have to. I may have to clean up that
whole city.
Kernen: Jim, why would the--that's the--now getting down
to the lows, I mean, the other averages have come back
quite a bit from the post-attack lows, the utilities are
retesting those. That's not something to worry about?
Cramer: No, because I think there's a lot of money going
into more cyclical issues. I think the economy is showing
signs of getting better. The consumer is certainly much
stronger than we thought. The base book didn't say the
corporate was strong, but the consumer is strong. Much
stronger than before.
Kernen: All right. In the past people have worried about
the utility averages being a leading indicator, though. I
don't--we're talking about four hundred to two-ninety at
this point. That's a long way.
Cramer: This average has got a lot of problems to it, but
I still think that--
Kernen: It's no longer the--
Cramer: --you sell this as safety. We don't want safety
as much as we want a little bit more reciprocality.
# # #
| ||
arnold-j/sent_items/587.
|
subject: RE: what are u up to later?
content: I''ll be drinking either at front porch or little woodrows
-----Original Message-----
From: Fraser, Jennifer
Sent: Thursday, October 25, 2001 3:34 PM
To: Arnold, John
Subject: what are u up to later?
| ||
arnold-j/sent_items/588.
|
subject:
content: Veronica:
Deutsche Bank asked me to ask you to call their maintenance margin person, John Jones, at 212 469 6773. I think they are trying to margin us.
John
| ||
arnold-j/sent_items/589.
|
subject:
content: can you arrange a mtg between the desk heads as soon after 1:30 as possible.
| ||
arnold-j/sent_items/59.
|
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/sent_items/590.
|
subject: RE:
content: I am sorry you lost the trade but this is not a matter that should be worked in the broker market nor should anybody be looking to profit off the situation. It is being handled directly to ensure the integity and liquidity in the market that is beneficial to all.
| ||
arnold-j/sent_items/591.
|
subject: RE: Rasheed
content: that kid is hilarious. Do you know what his last name is?
-----Original Message-----
From: Hochschild, Lenny
Sent: Friday, October 26, 2001 10:59 AM
To: Arnold, John
Subject: Rasheed
I'm gonna GETCHA
| ||
arnold-j/sent_items/592.
|
subject:
content: There will be a desk head mtg tomorrow, Sunday, at 3:00 on the 33rd floor per Lavorato to discuss positions and strategy. Please confirm via email. My cell # is 713 557 3330 if there are any problems.
|
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