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arora-h/sent_items/10.
subject: FW: Power Indices content: -----Original Message----- From: IntercontinentalExchange [mailto:[email protected]] Sent: Friday, November 30, 2001 11:55 AM To: [email protected] Subject: Power Indices IntercontinentalExchange Firm Power Price Bulletin For Power Delivered on Monday, December 03, 2001 (Trade Date of Friday, November 30, 2001) Click here to access index history <http://www.intcx.com/SubscriberServlet/subscriberservlet.class?operation=powerIndexForm&hub=All>. * volume represents sell-side only * Hub High Low Wtd Avg Index Change ($) Vol (Mwh) Cinergy $20.00 $15.75 $17.75 - 1.06 95,200 Comed $18.50 $17.50 $17.85 - 1.55 4,000 Entergy $17.50 $14.00 $16.20 - 3.09 24,000 Nepool $30.75 $28.75 $29.63 + 1.46 5,600 Palo Verde $31.75 $28.25 $29.88 + .19 10,800 PJM-West $25.00 $24.25 $24.57 + 1.64 44,800 SP-15 $32.50 $30.00 $30.86 - .03 6,400 TVA $18.50 $17.25 $17.86 - 1.34 22,400 Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the trade date specified for financially firm power delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s) specified. IntercontinentalExchange is the world's most liquid trading platform for over-the-counter energy and metals. Active markets include North American power and natural gas, global crude and refined oil products, and precious metals. Traded instruments include forwards, swaps, and options. In order to receive the proprietary information contained in this email, you acknowledge and agree that you shall not further disseminate the IntercontinentalExchange Market Data contained herein to any person or entity without the express written consent of IntercontinentalExchange. Furthermore, you acknowledge that (1) IntercontinentalExchange has exclusive and valuable property rights in this data; (2) IntercontinentalExchange's data is being made available to you only for your own business or personal activities; and (3) you cannot communicate the data, in any form, to any other person or entity without the express written consent of IntercontinentalExchange. This data is provided to you free of charge. IntercontinentalExchange reserves the right to cancel this service at any time for any reason or no reason at all. You agree that IntercontinentalExchange does not make any representations or warranties, express or implied, with respect to the data. To become an Exchange Participant or inquire about the indices, please contact [email protected] <mailto:[email protected]>. To unsubscribe from this service, click here unsubscribe <http://www.intcx.com/subscribe.html>. ?Copyright IntercontinentalExchange, Inc. 2001, All Rights Reserved.
arora-h/sent_items/11.
subject: Hi there content: Hi Kristi Hope things are going well. I got your email address from Andrea, who also told me you'd moved to Pittsburgh. Enron implosion is in full progress and I think this week, we will be left with 30% of our original size. On the gas power and trading, there are numerous groups who are trying to work out other opportunities, but we will have to wait and see. Keep me posted on what you are upto. Harry
arora-h/sent_items/12.
subject: RE: Kristi DeMaiolo content: Thanks Andrea -----Original Message----- From: Dahlke, Andrea Sent: Monday, December 03, 2001 8:56 AM To: Arora, Harry Subject: Kristi DeMaiolo Hey Harry! I wanted to get you Kristi DeMaiolo's information before things started getting crazy today. Take care! Andrea [email protected]
arora-h/sent_items/13.
subject: Couple of question content: Jeanie I have a couple of questions of you, when you get a chance, can you give me a call. Nothing significant, call me when you get a chance. Harry
arora-h/sent_items/14.
subject: FW: trading content: -----Original Message----- From: Ballantine, Caroline B [mailto:[email protected]] Sent: Thursday, November 29, 2001 10:06 AM To: '[email protected]' Subject: trading harry, i am a senior partner at heidrick & struggles responsible for our hedge fund business. will you please call me asap. thanks caroline Caroline B. Ballantine Partner Heidrick & Struggles - Chicago office O - 312/496-1790 F - 312/496-1049 E - [email protected]
arora-h/sent_items/15.
subject: FW: Good talking to you on Sat content: -----Original Message----- From: Harnek 'Nik' Minhas [mailto:[email protected]] Sent: Monday, December 03, 2001 8:44 AM To: Arora, Harry Subject: Good talking to you on Sat Hi Harry: It was nice talking to you on Saturday and I am sorry I was a bit brief as we had to load up our stuff in the UHaul truck and move that day. We are now in NJ at my sister's place. My new contact details are Harnek Minhas 116 Rico Drive N Morganville, NJ 07751 Tel: 732-591 5597 732-591-2662 I'll give you a call one of these days and we will chat. Let me know when you are coming to NJ. We should get together. harnek
arora-h/sent_items/16.
subject: Hi content: 3:30 at Starbucks on West gray
arora-h/sent_items/17.
subject: content: Were you looking for me ?
arora-h/sent_items/18.
subject: RE: Checking In content: -----Original Message----- From: Brian Scholte [mailto:[email protected]] Sent: Monday, December 24, 2001 11:28 PM To: [email protected] Subject: Checking In Hello Harry, With all this news about Enron in the news lately, I couldn't help but think about you. Are you still there on one of the unfortunate ones? Brian Scholte [email protected] <mailto:[email protected]>
arora-h/sent_items/19.
subject: FW: Checking In content: -----Original Message----- From: Arora, Harry Sent: Wednesday, December 26, 2001 11:38 AM To: Arora, Harry Subject: RE: Checking In -----Original Message----- From: Brian Scholte [mailto:[email protected]] Sent: Monday, December 24, 2001 11:28 PM To: [email protected] Subject: Checking In Hello Harry, With all this news about Enron in the news lately, I couldn't help but think about you. Are you still there on one of the unfortunate ones? Brian Scholte [email protected] <mailto:[email protected]>
arora-h/sent_items/2.
subject: RE: content: 11:45 at La Griglia (on West Gray) ? -----Original Message----- From: Rogers, Benjamin Sent: Tuesday, November 27, 2001 10:27 AM To: Arora, Harry Subject: RE: Sounds good. 11:30? -----Original Message----- From: Arora, Harry Sent: Tuesday, November 27, 2001 10:23 AM To: Rogers, Benjamin Subject: RE: Ben You want to go get lunch ? -----Original Message----- From: Rogers, Benjamin Sent: Tuesday, November 27, 2001 8:16 AM To: Arora, Harry Subject: Whats your cell #? I think I gave Mike Cyrus your home #. I talked with him last night and he was going to give you a call. Lets you and me try and talk today. I have some material about these guys that you will appreciate. Ben
arora-h/sent_items/20.
subject: FW: test mail content: -----Original Message----- From: Kaur, Gurdeep (Gurdeep)** CTR ** [mailto:[email protected]] Sent: Monday, December 24, 2001 11:14 AM To: '[email protected]' Subject: test mail Hi Harpreet, testing email id. pls acknowledge receipt. Thanks Gurdeep Kaur Global Messaging Services (Lucent) * [email protected] Phone (732)949-6106
arora-h/sent_items/21.
subject: FW: Get 2 FREE Review issues plus a FREE digital camera! content: -----Original Message----- From: Far Eastern Economic Review [mailto:[email protected]] Sent: Friday, December 21, 2001 8:31 AM To: Arora, Harry Subject: Get 2 FREE Review issues plus a FREE digital camera! <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> Dear Reader, <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> You have been selected to receive 2 free trial issues of the Far Eastern Economic Review <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab>, Asia's most authoritative business magazine. And when you subscribe now, you will enjoy a saving of up to 59% off our cover price, plus receive an A-max Digital Camera, absolutely free! <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> Every week, the Review breaks new ground with business and political insights that give you a powerful edge in doing business in Asia. Don't miss the opportunity to take up this time-limited special offer now! <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> China is changing fast and opportunities abound, but only for those who have access to, and understand the ongoing impact these changes will have on doing business in China. Now Review correspondents unearth news and insights to provide a comprehensive weekly briefing - this is a must-read for anyone doing business in or with China! <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab> If you subscribe now, you'll receive two complimentary issues of the Review, plus an A-max Digital Camera, absolutely free! You will also enjoy a saving of up to 59% off our cover price when you subscribe. Otherwise, the two free issues are yours to keep. Take advantage of this very special offer now! For your free issues or to subscribe, please click here <http://pmail.feer.com/cgi-bin7/flo?y=nEee0B58Ml0CKo0Syz0Ab>. Yours sincerely, <http://awsj.com.hk/email/nextmove2/Philip_Revzin.gif> Philip Revzin Publisher Far Eastern Economic Review <http://awsj.com.hk/email/nextmove2/dowjones_black.gif> If you do not wish to receive email from us in the future, please send a blank email to [email protected] <mailto:[email protected]> <http://pmail.feer.com/cgi-bin7/flosensing?y=Eee0B58Ml0CKoU>
arora-h/sent_items/22.
subject: FW: THE LIGHTHOUSE: December 24, 2001 content: -----Original Message----- From: David J. Theroux [mailto:[email protected]] Sent: Monday, December 24, 2001 5:48 PM To: Lighthouse Subject: THE LIGHTHOUSE: December 24, 2001 THE LIGHTHOUSE "Enlightening Ideas for Public Policy..." Vol. 3, Issue 51 December 24, 2001 ------------------------------------------------------------- IN THIS WEEK'S ISSUE: 1. Defunct "Stimulus" Package Is Uncle Sam's Unintended Gift 2. Ode to John Ashcroft and Civil Liberties 3. A Christmas Reflection 4. More Year-end Giving Tips -- plus a Bonus! -------------------------------------------------------------- Welcome to The Lighthouse, the e-mail newsletter of The Independent Institute, the non-politicized, public policy research organization <http://www.independent.org>. If you know someone who would enjoy THE LIGHTHOUSE, please forward this issue. If they like it, they can add themselves to the list at http://www.independent.org/tii/lighthouse/Lighthouse.html. -------------------------------------------------------------- DEFUNCT "STIMULUS" PACKAGE IS UNCLE SAM'S UNINTENDED GIFT Uncle Sam sent taxpayers an unexpected gift last week: an economic "stimulus" package that never made it off Capitol Hill. Many economists, critical of the proposed government spending increases, have pointed out that the economy had already started to show signs of recovery anyway. Other critics correctly point out that the "stimulus" had enough pork to keep special-interest groups hibernating high on the hog till next winter. There is, however, another reason to have frowned at Washington's "stimulus" proposals and to rejoice at their demise. Government "stimulus" packages are not, as environmentalists might say, "sustainable." They merely crowd out or postpone increases in private investment -- the fuel of economic recovery. And when a government "stimulus" is financed by inflation, it tends to undermine the source of that fuel: capital formation. This holiday season we can thank Congress for its inability to agree to "help" the economy. But, unfortunately, we're still haunted with visions of Christmas past, when bad legislation has gone back to conference committees only to be return as even worse legislation. Too bad Washington, DC, doesn't have a "no returns" policy. For more on the economic benefits of political gridlock, see "Divided We Stand, United We Fall," by Richard Vedder, senior research fellow at The Independent Institute, at http://www.independent.org/tii/news/9712Vedder.html. Also see, "Is Macroeconomics Believable?" by Ben W. Bolch (THE INDEPENDENT REVIEW, Spring 1998), at http://www.independent.org/tii/content/pubs/review/TIR24_bolch.html. -------------------------------------------------------------- ODE TO JOHN ASHCROFT AND CIVIL LIBERTIES So long as Americans have freedom of speech, there is hope that the flame of liberty will remain lit. In that spirit, we offer the following ditty posted on the website of The Nonviolence Web. "Ode to John Ashcroft and Civil Liberties" (Sung to the tune of "Santa Claus is Coming to Town") You better watch out, You better not pout, You better not cry. I'm telling you why. John ashcroft's coming to town. He sees you with your lawyer. He listens to every phone; He reads everyone's email, and he locks you all alone. With little tin guns And tiny cellphones Rooty hoot, hoot, he's breaking in homes, Big Brother is coming to town. He knows when you are traveling. He knows who you're around; Tried in military courtrooms, Not a lawyer can be found. He's makin' a list, and checking for race, Gonna arrest those who are dark of face. Big Brother's coming to town. You better watch out, You better not pout, You better not cry. I'm telling you why. Big Brother's coming to town. See http://www.independent.org/tii/lighthouse/LHLink3-51-1.html. Also see: "Looking Who's Looking," by Ron Gurantz, (10/22/01), at http://www.independent.org/tii/news/011022Gurantz.html. "Watching You: Federal Surveillance of Ordinary Americans," by Charlotte Twight (THE INDEPENDENT REVIEW, Fall 1999) http://independent.org/tii/content/pubs/review/TIR42Twight.html. "Conning Congress: Privacy and the 1994 Commuications Assistance for Law Enforcement Act," by Charlotte Twight (THE INDEPENDENT REVIEW, Fall 2001) http://www.independent.org/tii/content/pubs/review/tir62_twight.html. -------------------------------------------------------------- A CHRISTMAS REFLECTION Christmas, a holiday rooted in both Christianity and pre-Christian celebrations of the winter solstice, is also an appropriate time to reflect upon the secular values that have helped Western civilization over the course of two tumultuous millennia. Among these values: freedom of conscience, peace on Earth, and goodwill toward men. These values transcend any particular religion; they are in fact articulated in varying degrees by most of the world's religions. Yet they have found their fullest expression in the West. Why? Because in Western culture more than in any other, the individual counts. "This empowerment of the individual is unique to Western civilization," writes Paul Craig Roberts. And it is this individualist precept -- respect for the dignity and worth of each human life -- that holds the key to understanding the unique institutions of the West. The West's individualism, writes Roberts, "permits an individual person to put his or her foot down, to take a stand on principle, to become a reformer and take on injustice.... It has made the individual a citizen equal in rights to all other citizens, protected from tyrannical government by the rule of law and free speech." Just as freedom in the West has unleashed in the marketplace the progressive forces of what one economist termed "creative destruction," so freedom in the West has unleashed a similar phenomenon in the marketplace of ideas. This perhaps is the West's supreme paradox (and achievement) -- its tradition of questioning even tradition itself. Concludes Roberts: "Be we religious or be we not, our celebration of Christ's birthday celebrates a religion that made us masters of our souls and of our political life on Earth. Such a religion as this is worth holding onto even by atheists." See "The Greatest Gift," by Paul Craig Roberts (12/19/01), at http://www.independent.org/tii/lighthouse/LHLink3-51-2.html Also see, "The Drama of Western Identity," by David Gress (THE INDEPENDENT REVIEW, Winter 2000) at http://independent.org/tii/content/pubs/review/TIR43Gress.html, and "Freedom of Religion and Public Schooling," by James Otterson (THE INDEPENDENT REVIEW, Spring 2000) at http://www.independent.org/tii/content/pubs/review/TIR44Otteson.html. ------------------------------------------------------------- MORE YEAR-END GIVING TIPS -- PLUS A BONUS! Last week's LIGHTHOUSE item regarding making a year-end contribution inadvertently omitted the qualifier *federal* taxes in discussing the tax ramifications of gifting stock. As state and local tax codes can have varying provisions, be sure to check these -- and, as always, with your own tax adviser -- prior to making a charitable gift decision involving stock. Remember, there are still seven days in which to take advantage of possible savings off of your 2001 taxes by giving to The Independent Institute. Your support will help us continue producing our popular, weekly, e-mail newsletter, THE LIGHTHOUSE, as well as pursuing innovative and path-breaking solutions to today's pressing challenges. If you've already made a gift this year, your expanded support with an additional year-end bonus contribution will help fuel even greater efforts. You may mail a check dated prior to the end of the year, or call, email, or fax us your credit card number and amount of donation you wish to make. For further information on the benefits from various Independent Associate Membership levels, please visit the following: http://www.independent.org/tii/tii_info/associat.html. If you prefer to give using securities, it's easy to do so via an electronic transfer. Call, fax or e-mail us for easy instructions on doing so. Again, contributions to The Independent Institute are tax-deductible to the extent allowable by law, and are used to further efforts to expand the benefits of a free society. Plus, as our gift to you, with your membership of $100 or more, you will receive a FREE copy of one of the following new Independent Institute books, American Health Care, Can Teachers Own Their Own Schools?, Cutting Green Tape, Fire & Smoke, or Writing Off Ideas (please specify). For further information about giving to The Independent Institute and to select your Free book, please visit: http://www.independent.org/tii/tii_info/associat.html Thank you again for your support! ------------------------------------------------------------- For previous issues of THE LIGHTHOUSE, see http://www.independent.org/tii/lighthouse/Lighthouse.html. ------------------------------------------------------------- For information on books and other publications from The Independent Institute, see http://www.independent.org/tii/pubs.html. ------------------------------------------------------------- THE LIGHTHOUSE, edited by Carl P. Close, is made possible by the generous contributions of supporters of The Independent Institute. To subscribe (or unsubscribe) to The Lighthouse, please go to http://www.independent.org/subscribe.html, choose "subscribe" (or "unsubscribe"), enter your e-mail address and select "Go." ------------------------------------------------------------- THE LIGHTHOUSE ISSN 1526-173X Copyright ? 2001 The Independent Institute 100 Swan Way Oakland, CA 94621-1428 (510) 632-1366 phone (510) 568-6040 fax
arora-h/sent_items/23.
subject: content: Mark Schindler Director Wachovia Securities Corporate & Investment Banking 212-891-5003 646 734 6954 [email protected]
arora-h/sent_items/24.
subject: RE: Option products content: Max I am glad you liked the presentation. I had a look at the tool-kit - I think it is a good brief description of various products. I did forward your email to Iris Mack and she might be able to provide you further input on that. She is also available as a resource (as a derivatives specialist) to analyze clients risk and provide solutions. I would be more than happy to discuss any specific client situations you have and what we could offer to them. Would be happy to sit down and discuss more stuff with you if you are interested. Harry -----Original Message----- From: Sell, Maximilian Sent: Tuesday, October 16, 2001 11:00 AM To: Arora, Harry Subject: Option products Hi Harry, I heard you speak yesterday at the originator's meeting. It was rather interesting. I took the Derivatives 2 course a few weeks ago and they went into the complexities of options trading. It was cool stuff. I'd like to know more about options trading and I hope that you can recommend some good sources or books. I'd appreciate any info you could pass on. Also, I'm putting together an "Originator's Toolkit" which consists of the various financial products that the originators and mid marketers could offer to customers. I'm attaching a list of option based products that I have put together so far. I'd be grateful if you could take a minute, read through it, and let me know if there are any additional option products that I should include. I want to make sure the toolkit has as many useful products as possible. Thanks so much, Max << File: Products-Options.doc >>
arora-h/sent_items/25.
subject: FW: Your Amazon.com order (#002-4083380-7905653): your approval content: -----Original Message----- From: [email protected] [mailto:[email protected]] Sent: Monday, October 22, 2001 10:21 AM To: Arora, Harry Cc: [email protected] Subject: Your Amazon.com order (#002-4083380-7905653): your approval required Hello from Amazon.com. We wanted to let you know that we're experiencing a delay with the following item: Masami Saionji "The Golden Key to Happiness : Words of Guidance and Wisdom" Item delayed 4-6 weeks. To approve this delay or to cancel this item from your order, please go to: http://www.amazon.com/o/availability-approval/2BWVKRATKZGNWH If we have not received your approval or cancellation by 11/21/01, we will still try to obtain and ship this item before that date; otherwise, we will automatically cancel the item for you on that date. If clicking the above link doesn't seem to work, you can copy and paste the link into your browser's address window, or retype it there. We apologize for any inconvenience caused by this delay. Thanks for shopping at Amazon.com, and we hope to see you again! Sincerely, Customer Service Department Amazon.com http://www.amazon.com Earth's Biggest Selection
arora-h/sent_items/26.
subject: RE: Hope you can make our party on the 27th Oct content: Sure. That should be fun. Anything we can bring ? Harry -----Original Message----- From: Gilbert-smith, Doug Sent: Tuesday, October 16, 2001 8:30 AM To: King, Jeff; Dean, Clint; Arora, Harry Subject: Hope you can make our party on the 27th Oct << File: haloween_invite.doc >>
arora-h/sent_items/27.
subject: RE: status of CCO book accounting treatment content: Stacey What is this dual trigger option - can you give me some background on this one ? Harry -----Original Message----- From: Cilia, Mary Sent: Monday, October 22, 2001 1:08 PM To: White, Stacey W.; Arora, Harry Subject: FW: status of CCO book accounting treatment FYI - Jennifer Stevenson at Andersen may be calling you all to try and verify something to assist us with our dual trigger accounting arguments. We have been trying to prove to Andersen that the value in the dual trigger option lies more in the price volatility than the physical plant outage. AA was perplexed by the approximate 50% margin on these deals. Larry Marcus pointed out to them that this isn't any different than an out of the money call option which would also typically generate a 50% margin. They believe that it will greatly help our argument if they can verify with a trader that this is true. Let me know if you have any questions. Thanks. Mary -----Original Message----- From: Williams, Karin Sent: Monday, October 22, 2001 8:07 AM To: Cilia, Mary Subject: FW: status of CCO book accounting treatment David Hoog recommends that Jennifer and Patty talk with Harry Aurora. K -----Original Message----- From: Hoog, David Sent: Saturday, October 20, 2001 11:27 AM To: Williams, Karin; Marcus, Larry Cc: Sekse, Per; Price, Brent A.; Glover, Sheila Subject: RE: status of CCO book accounting treatment if a call option is way out of the money, such as the ones we purchased last summer, the premium is a multiple of the "expected" payout. a trader may not respond well to the term "margin" because they dont calculate it. as an example, if the midmarket value for a $100 power call is $2.50, and a $500 call is expected to pay 40% as much, a trader would offer this illiquid instrument for $2, which would be like a 50% margin. one problem with this analogy is that expected value of payout is frequently much lower than the midmarket because there are very few arbitrageurs in this market who can really take advantage of that. this example does support the statement, but a trader will not think about it the same way. they will not call this extreme vol smile on illiquid products a high margin. harry arora would be the trader to talk to. -----Original Message----- From: Williams, Karin Sent: Fri 10/19/2001 4:29 PM To: Hoog, David; Marcus, Larry Cc: Sekse, Per; Price, Brent A.; Glover, Sheila Subject: status of CCO book accounting treatment Patty Grutzmacher and Jennifer Stevenson (both Andersen) were scheduled to review our pricing model with Tom Bauer (Andersen partner) this week. Due to issues relating to the Enron shareholders' lawsuit, Tom could not meet with them. Patty and Jennifer did have further discussions with Amitava and Vasant. They are all right with the model. Larry - Patty / Jennifer want to confirm your statement that a 50% margin on an out-of-the-money call option is not unusual. They have asked Stacey White (Director of Power Risk Mgmt) to recommend a power trader with whom they can talk. If you know of a person you would like them to talk with, please let me know. Mary Cilia (transaction support) has asked Jennifer and Patty not to push the issue with Tom Bauer until he is in a more receptive mood. We are still anticipating a resolution this quarter. I will continue to keep you informed. Karin Williams 713-345-8026 713-594-4978 (cell phone)
arora-h/sent_items/28.
subject: RE: status of CCO book accounting treatment content: Sure -----Original Message----- From: Cilia, Mary Sent: Monday, October 22, 2001 1:08 PM To: White, Stacey W.; Arora, Harry Subject: FW: status of CCO book accounting treatment FYI - Jennifer Stevenson at Andersen may be calling you all to try and verify something to assist us with our dual trigger accounting arguments. We have been trying to prove to Andersen that the value in the dual trigger option lies more in the price volatility than the physical plant outage. AA was perplexed by the approximate 50% margin on these deals. Larry Marcus pointed out to them that this isn't any different than an out of the money call option which would also typically generate a 50% margin. They believe that it will greatly help our argument if they can verify with a trader that this is true. Let me know if you have any questions. Thanks. Mary -----Original Message----- From: Williams, Karin Sent: Monday, October 22, 2001 8:07 AM To: Cilia, Mary Subject: FW: status of CCO book accounting treatment David Hoog recommends that Jennifer and Patty talk with Harry Aurora. K -----Original Message----- From: Hoog, David Sent: Saturday, October 20, 2001 11:27 AM To: Williams, Karin; Marcus, Larry Cc: Sekse, Per; Price, Brent A.; Glover, Sheila Subject: RE: status of CCO book accounting treatment if a call option is way out of the money, such as the ones we purchased last summer, the premium is a multiple of the "expected" payout. a trader may not respond well to the term "margin" because they dont calculate it. as an example, if the midmarket value for a $100 power call is $2.50, and a $500 call is expected to pay 40% as much, a trader would offer this illiquid instrument for $2, which would be like a 50% margin. one problem with this analogy is that expected value of payout is frequently much lower than the midmarket because there are very few arbitrageurs in this market who can really take advantage of that. this example does support the statement, but a trader will not think about it the same way. they will not call this extreme vol smile on illiquid products a high margin. harry arora would be the trader to talk to. -----Original Message----- From: Williams, Karin Sent: Fri 10/19/2001 4:29 PM To: Hoog, David; Marcus, Larry Cc: Sekse, Per; Price, Brent A.; Glover, Sheila Subject: status of CCO book accounting treatment Patty Grutzmacher and Jennifer Stevenson (both Andersen) were scheduled to review our pricing model with Tom Bauer (Andersen partner) this week. Due to issues relating to the Enron shareholders' lawsuit, Tom could not meet with them. Patty and Jennifer did have further discussions with Amitava and Vasant. They are all right with the model. Larry - Patty / Jennifer want to confirm your statement that a 50% margin on an out-of-the-money call option is not unusual. They have asked Stacey White (Director of Power Risk Mgmt) to recommend a power trader with whom they can talk. If you know of a person you would like them to talk with, please let me know. Mary Cilia (transaction support) has asked Jennifer and Patty not to push the issue with Tom Bauer until he is in a more receptive mood. We are still anticipating a resolution this quarter. I will continue to keep you informed. Karin Williams 713-345-8026 713-594-4978 (cell phone)
arora-h/sent_items/29.
subject: Vol curves content: Lets work with these curves. Ignore my comments in the fourth column. Harry
arora-h/sent_items/3.
subject: RE: content: Am on my way. See ya in a few. Harry -----Original Message----- From: Rogers, Benjamin Sent: Tuesday, November 27, 2001 10:48 AM To: Arora, Harry Subject: RE: Sounds good! -----Original Message----- From: Arora, Harry Sent: Tuesday, November 27, 2001 10:47 AM To: Rogers, Benjamin Subject: RE: 11:45 at La Griglia (on West Gray) ? -----Original Message----- From: Rogers, Benjamin Sent: Tuesday, November 27, 2001 10:27 AM To: Arora, Harry Subject: RE: Sounds good. 11:30? -----Original Message----- From: Arora, Harry Sent: Tuesday, November 27, 2001 10:23 AM To: Rogers, Benjamin Subject: RE: Ben You want to go get lunch ? -----Original Message----- From: Rogers, Benjamin Sent: Tuesday, November 27, 2001 8:16 AM To: Arora, Harry Subject: Whats your cell #? I think I gave Mike Cyrus your home #. I talked with him last night and he was going to give you a call. Lets you and me try and talk today. I have some material about these guys that you will appreciate. Ben
arora-h/sent_items/30.
subject: RE: Entergy Bid content: I left a message for Greg, that we'd be prepared to show a 3$ bid if that includes capacity. I did underline the point that we are not too excited to buy but nevertheless will show an indicative bid. Let me know if you have any questions. Harry -----Original Message----- From: Cavazos, Brandon Sent: Monday, October 22, 2001 3:23 PM To: Arora, Harry Subject: FW: Entergy Bid Harry, I'm not sure if you've had a chance to talk to Kevin yet, but Greg just sent this to me. Give me a call/email if you want to talk it over with me. Thanks, Brandon Cavazos Enron North America 1400 Smith Street Houston, TX 77002 713-345-3335 [email protected] -----Original Message----- From: Blair, Greg Sent: Monday, October 22, 2001 3:12 PM To: Cavazos, Brandon Subject: Entergy Bid Brandon: Any word from Harry on the Entergy bid? Also, what do we have on the NEPOOL stuff, anything yet? If not, I would appreciate a guess as to time frame. Thanks, Greg
arora-h/sent_items/31.
subject: RE: Staff Meeting content: TJae Can you mark me down for a half day (sick day) for today. Was feeling terri= ble this morning. Harry -----Original Message----- From: =09Black, Tamara Jae =20 Sent:=09Tuesday, October 23, 2001 4:01 PM To:=09/o=3DENRON/ou=3DNA/cn=3DRecipients/cn=3Dnotesaddr/cn=3Da478079f-55e1f= 3b0-862566fa-612229; Abler, William; Aggarwal, Anubhav; Allen, Diana; Arora= , Harry; Bailey, Debra; Ballato, Russell; Ballinger, Ted; Baughman Jr., Don= ; Benchluch, Moises; Benjelloun, Hicham; Benson, Robert; Bentley, Corry; Bl= ack, Tamara Jae; Blaine, Jay; Bolt, Laurel; Broderick, Paul J.; Broussard, = Richard; Burnett, Lisa; Campbell, Larry F.; Capasso, Joe; Carson, Mike; Che= n, Alan; Choate, Jason; Cline, Kevin; Collins, Dustin; Comeaux, Keith; Coul= ter, Kayne; Davis, Mark Dana; Day, Smith L.; Dean, Clint; Decook, Todd; Eme= sih, Gerald; Errigo, Joe; Forney, John M.; Freije, William; Garcia, Miguel = L.; Gilbert, Gerald; Gilbert-smith, Doug; Giron, Gustavo; Greer, Andrew; Gu= aly, Jaime; Guerra, Claudia; Gulmeden, Utku; Gupta, Gautam; Ha, Amie; Hanse= , Patrick; Hernandez, Juan; Imai, Rika; Ingram, David; Jenkins IV, Daniel; = Kaniss, Jason; King, Jeff; Kinser, John; Larkworthy, Carrie; Laurent, Dean;= Laverell, Justin; Lenartowicz, Chris; Lorenz, Matt; Lotz, Gretchen; Lowell= , Thomas; Mack, Iris; Mahajan, Ashish; Makkai, Peter; Marquez, Mauricio; Ma= skell, David; May, Tom; McElreath, Alexander; Miller, Jeffrey; Oh, Seung-Ta= ek; Olinde Jr., Steve; Pace, Andy; Padron, Juan; Pan, Steve; Philip, Willis= ; Podurgiel, Laura; Poppa, John D.; Presto, Kevin M.; Quenet, Joe; Rawal, P= unit; Rodriquez, Andy; Rogers, Benjamin; Rust, Bill; Ryan, David; Saibi, Er= ic; Schiavone, Paul; Schneider, Bryce; Seely, Michael; Serio, Erik; Shoemak= e, Lisa; Stalford, Robert; Stepenovitch, Joe; Sturm, Fletcher J.; Symms, Ma= rk; Tamma, Ramanarao; Thomas, Paul D.; Trejo, Reese; Valdes, Maria; Vernon,= Clayton; Wang, Steve; Williams, Ryan; Willis, Cory; Zipperer, Mike; Baughm= an, Edward D.; Carroll, Lex; Clynes, Terri; Dalton III, Oscar; Forster, Dav= id; Kelly, Mike E.; Ratliff, Beau; Sewell, Doug; Valderrama, Larry Subject:=09Staff Meeting Please mark your calendar for a mandatory staff meeting with Kevin Presto t= omorrow, Oct. 24th from 4- 5pm in room 30c1. Thanks=20 T.Jae Black East Power Trading Assistant to Kevin Presto off. 713-853-5800 fax 713-646-8272 cell 713-539-4760
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subject: Interviews tomorrow content: Cathy Tried calling you earlier today but looks like there is something wrong with your phone (x34049). Unfortunately I will not be able to make it tomorrow , but my colleague Doug Smith (3-9310) who runs our Ercot trading group has agreed to take my spot. I told him this was for 2 hours. Can you give me a call and let him know the details. I did give Doug my folder. Thanks Harry
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subject: FW: Indicative Enron Proposal for Wallingford content: -----Original Message----- From: Wood, George Sent: Friday, October 19, 2001 3:46 PM To: '[email protected]'; '[email protected]' Subject: Indicative Enron Proposal for Wallingford Roland and David I am attaching the Enron response to your RFP of October 4, 2001. This proposal is indicative and confidential. We would be most pleased to discuss this proposal or other approaches/modifications with you. thank you Woody
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subject: FW: Illinois Power Option Pricing content: -----Original Message----- From: Compean, Karla Sent: Wednesday, October 24, 2001 10:06 AM To: Arora, Harry Cc: Seksaria, Rahul Subject: Illinois Power Option Pricing Harry, I have enclosed the revised call option pricing with the vol. curves you requested for your review. If you have any questions, please feel free to call either Rahul or myself. Thank you, Karla
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subject: RE: DealBench part two? content: wow -----Original Message----- From: Bartlett, Jeff Sent: Wednesday, October 24, 2001 3:33 PM To: Arora, Harry Cc: Raghavan, Suresh Subject: DealBench part two? So does this mean we're back in business??? :) Jeff ============================================================ Enron Names Jeff McMahon Chief Financial Officer October 24, 2001 16:15:00 (ET) HOUSTON, Oct 24, 2001 /PRNewswire via COMTEX/ -- Enron Corp. (ENE </cgi-bin/gx.cgi/AppLogic+ResearchStock?cmenu=DetQ&prod=ENE:US:EQ>, Trade </cgi-bin/gx.cgi/AppLogic+OrderForm?Symbol=ENE>) announced today that it has named Jeff McMahon chief financial officer. McMahon had been serving as chairman and CEO of Enron's Industrial Markets group. From 1998 to 2000, McMahon was Enron's treasurer. "Jeff has unparalleled qualifications and a deep and thorough understanding of Enron," said Kenneth L. Lay, Enron chairman and CEO. "He has the trust and confidence of our investors and financial institutions." Andrew Fastow, previously Enron's CFO, will be on a leave of absence from the company. "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," Lay said. McMahon, 40, joined Enron in 1994 and spent three years in the London office as chief financial officer for Enron's European operations. Upon returning to the United States, McMahon was executive vice president of finance and treasurer for Enron Corp. In 2000, he was named president and chief operating officer of Enron Net Works, where he had responsibility for Enron's e-commerce activities. McMahon has a bachelor's degree in business from the University of Richmond in Virginia. He is a Certified Public Accountant, SFA registered and is a member of the American Institute of Public Accountants and Association of Corporate Treasurers.
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subject: Mr CFO content: Congrats Jeff I dont think there could be anyone better and more capable to take this challenging position. Good luck. Harry
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subject: Options from CMS Trading content: Teresa CMS Trading is unable to trade on my option numbers. The trader there is Lingard Fitch (not sure if I am spelling his name right). Could you pls followup on this one. Harry
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subject: RE: Leaving Enron..... content: Whats going on dude ? Where are you headed ? Are you in town or leaving Hou. Give me a call when you get a chance. 713-853-6750 and home is 713-802-0560. Good luck on your new endeavor. Harry Arora -----Original Message----- From: Lee, Kenneth Sent: Thursday, October 25, 2001 9:53 AM To: Hickerson, Gary; Beck, Sally; Arora, Harry; Shahi, Pushkar; Stuart III, William; Brogan, Theresa T.; Adams, Laurel; Carrington, Clara; Charania, Aneela; Rizvi, Ana; Crelin, Daniele; Rodriguez, Melissa; Glover, Sheila; Norden, John; Zhou, Jennifer; D'Silva, Kenneth; Benevides, Dennis; Lewis, James; Bresnan, Neil; Perlman, Beth; Koo, Dickson; Donovan, Tom; Draper, David; Lair, Tasha; Kim, Michael; Shoemaker, Paul; Prihoda, Warren; Hwang, Monica; Yan, Yi; Smith, Reginald; Yeargain, Scott; Surface, Jerald; Junatas, Mitus; Calderon, Eduardo; Wei, Zhiyong; Wong, Jeremy; Lim, Francis S.; Luu, Duong; Ramesh, Ganapathy; Lee, Norman; Yang, Zhiyun; Young, Ress; Leonard, Chris; Butler, Brian J.; Ha, Amie; Junus, David; Capasso, Joe; Stoness, Scott; Johnson, Tamara; Savage, Gordon; Eggleston, Meredith; Heidecker, Bill; Cobb, Jeff; McIntyre, Burton; Cross, Edith; Ring, Richard Subject: Leaving Enron..... All, It has been my pleasure to work with you all in my wonderful years at Enron. I will be leaving Enron today. I wish you all continued success. Please feel free to contact me at the following email address: [email protected] Sincerely, Ken
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subject: RE: URGENT - ENA Associates & Analysts content: I could do 3rd November or 1st December, which ever you'd like. Harry -----Original Message----- From: Buckley, Karen Sent: Tuesday, October 23, 2001 6:56 PM To: Duran, W. David; Baughman, Edward D.; Tingleaf, Drew; Kroll, Heather; Marks, David; Scheuer, Janelle; Jafry, Rahil; Sturm, Fletcher J.; Davis, Mark Dana; Benson, Robert; Carson, Mike; Gilbert-smith, Doug; Herndon, Rogers; Bentley, Corry; Arora, Harry; Jacoby, Ben; Meyn, Jim; Will, Lloyd; Gossett, Jeffrey C.; Gaskill, Chris; Allen, Phillip K.; Arnold, John; Grigsby, Mike; Martin, Thomas A.; Neal, Scott; Schwieger, Jim; Shively, Hunter S.; Luce, Laura; Vickers, Frank; Baughman, Edward D.; Mrha, Jean; Lagrasta, Fred; Tricoli, Carl Cc: Lavorato, John; Kitchen, Louise Subject: URGENT - ENA Associates & Analysts << File: ENA Participation.xls >> All, The below Analyst & Associate recruiting dates require ENA participation at Manager level at above. In order to resource each of your departments it is important to have ENA's involvement and participation in the interviews and debrief sessions on Fantastic Friday and Super Saturday events. These de-brief sessions will allow you the opportunity to select candidates you wish to join your groups. The target is to assign potential candidates to business units and departments from the outset. As ENA has the highest percentage of A&A rotating in its business unit, the participation of ENA at interview should reflect this. Therefore, please encourage your direct reports and managers to participate in the below events in order to secure candidates for your business area. Associate Recruiting: Saturday November 3 Total - 70 Candidates for Interview Analyst Recruiting: Friday, November 16 Total - 70 Candidates for Interivew Associate Recruiting: Saturday, December 1 Total - 70 Candidates for Interview The above spreadsheet represents ENA's particpation today which I believe highlights the need for much additional support in these efforts. Please confirm by return participation of your respective groups. Regards, Karen Buckley HR - ENA
arora-h/sent_items/4.
subject: RE: content: Frank I was on vacation last week. Feel free to stop by anytime. Would be happy to be of any help. Harry -----Original Message----- From: Hayden, Frank Sent: Monday, November 19, 2001 4:18 PM To: Arora, Harry Subject: Harry, We are currently trying to stress some options that are Enpower to determine sensitivity to changes in price, vols or time. Can I grab you a few moments to discuss. Frank
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subject: RE: Models content: Iris what is the difference between this spark spread function call and the one = being used in the spreadsheets we use ? Harry -----Original Message----- From: =09Mack, Iris =20 Sent:=09Wednesday, October 24, 2001 10:34 AM To:=09Danilov, Viacheslav; Issler, Paulo Cc:=09Arora, Harry Subject:=09FW: Models << File: CrackSpreadOptions.xls >>=20 Hi Slava, =09Paulo says you have some questions about what we're doing with spark spr= eads. =09He did not give me any specifics as to what you needed. Give me at call= at X3-6711 for more details. =09In the mean time, I have been developing exotic options modules/tutorial= s for the power trading floor. One of the modules is on spark spreads - p= lease see attached file. =09 Regards, Iris -----Original Message----- From: =09Issler, Paulo =20 Sent:=09Wednesday, October 24, 2001 10:26 AM To:=09Mack, Iris Cc:=09Danilov, Viacheslav Subject:=09FW: Models Iris: I think you are the expert on how we are trading spark spreads (if we are d= oing any). Slava wants to know more about it. I appreciate if you contact h= im directly.=20 Many Thanks. Paulo Issler -----Original Message----- From: =09Danilov, Viacheslav =20 Sent:=09Tuesday, October 23, 2001 2:05 AM To:=09Issler, Paulo Subject:=09RE: Models Paulo, thank you very much.=20 we will look at all your work. just to remind you on spark spread options. many thanks, Slava -----Original Message----- From: =09Issler, Paulo =20 Sent:=0923 October 2001 01:00 To:=09Danilov, Viacheslav Subject:=09Models Slava: Here are the files related to the models I mentioned in our phone coversati= on. FwdFwd Vols: Here is a spreadshet implementing a technique for calculating fwd fwd volat= ilities for seasonal vol curves. The approach avoids the issue of geting ne= gative fwd fwd variances when using the traditional approach. It makes nece= ssary, however, to develop a specific fwd fwd vol curve for each contract m= onth.=20 Here is how it works: =091) Create a variance curve: Var =3D vol*vol*(Ti-t) =092) Fit a desoasonalized curve with functional form: y =3D a*(tb)?=093) c= alculate fwd-fwd variances for the desoasonal curve:?=094) Calculate fwd-fw= d vols for each month by multiplying the ?=09 fwd-fwd variance curve by = a factor equal to:?=09=09=09SQRT(Var(Contract Month)/Var(fit))??? << File: = FwdFwd.xls >> ?I implemented a C code for calculating that. This, with the = omicron vols may be used to model the gas curve evolution in a HJM framewor= k.?? << File: fwdfwd.c >> << File: FwdFwdw.c >> ??Swing Options:?Here is t= he code and documentation for the swing option:?? << File: XLCALL32.LIB >> = << File: bico.c >> << File: factln.c >> << File: FRAMEWRK.C >> << File:= FRAMEWRK.H >> << File: FSSwing.c >> << File: FSSwingOpt.c >> << File: F= XSwing.c >> << File: FXSwingOpt.c >> << File: gammln.c >> << File: Inter= polate.c >> << File: nrutil.c >> << File: nrutil.h >> << File: SwingOpt.= def >> << File: SwingOptW.c >> << File: SwingW.c >> << File: XLCALL.H >>= << File: Bdt.c >> << File: Swing Model.doc >> ?Here are the spreadshets = examples:?? << File: FSSwingOpt.xls >> << File: FXSwingOpt.xls >> ?LookBac= k:?Here is my implementation for the lookback option with fixed strike. It = uses an analytical solution in which prices are sampled continiously over t= ime. It still provides a good approximation for a discrete daily sampling:?= ? << File: XLCALL32.LIB >> << File: Cumnorm.c >> << File: framewrk.c >> = << File: framewrk.h >> << File: FxLKBK.c >> << File: FxLKBK.def >> << Fi= le: Integration.c >> << File: lkbkTEST.xls >> << File: nrutil.c >> << Fi= le: nrutil.h >> << File: put.c >> << File: xFxLKBK.c >> << File: XLCALL.= H >> << File: call.c >> ?Let me know if you got them all.?Give me a call w= ith your questions/concerns.?Thanks.?Paulo Issler?
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subject: RE: Entergy Bid content: Greg VOM - I think we did $2, Brandon should be able to confirm, I know it was 7x24, with 8 hour min run Re size - our interest is atmost 250 MW Capacity in the ECAR market is important from a reliability aspect. For example we could sell totally synthetic tolls and they would not be as valuable as the toll off a plant in the region. Thats where the capacity comes into play. Moreover as RTOs come in, there might be an explicit ICAP market for ECAR. Harry -----Original Message----- From: Blair, Greg Sent: Wednesday, October 24, 2001 8:24 AM To: Arora, Harry Subject: Entergy Bid Harry: Received your voice mail from last night. Just to make sure I've got it right: bid is $3.00/Kw-mo; Heat Rate is 7,000. Re: size - do we want 250MW, or more? Re: VOM - is $2.00/MWh what we have in mind? Re: Availability - is it 7x24 or 5x16. Didn't understand the comment on capacity. If we've got the call, don't we also have the capacity? Thanks, Greg
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subject: RE: Prudential's "Investor Weekly" for 10-24-01 content: Warren I spoke to Pushkar Shahi and he would be happy to chat with you. His number is 713-853-9199. He trades lots of bonds, notes and eurodollars. Harry -----Original Message----- From: Jon and Warren [mailto:[email protected]] Sent: Wednesday, October 24, 2001 10:41 AM To: Inv Weekly Subject: Prudential's "Investor Weekly" for 10-24-01 ======================================= Jon and Warren at the CBOT 312-987-5970 or 800-547-3587, 312-347-5061 ======================================= This report has been prepared for informational purposes only. It does not constitute an offer, recommendation or solicitation to buy or sell any securities. It is based on information generally available to the public from sources believed to be reliable. No representation is made that the information is accurate or complete or that any returns indicated will be achieved. Past performance is not indicative of future results. Price and availability are subject to change without notice. Additional information is available upon request. =======================================
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subject: RE: ANP Pricing Summary content: Mason Did Rob make a price on the ANP. If not can we finalilze a price on this toll and give John Llodra a call. Harry -----Original Message----- From: Hamlin, Mason Sent: Tuesday, October 23, 2001 12:01 PM To: Stalford, Robert; Arora, Harry Subject: RE: ANP Pricing Summary Attached are the vol curves we are using. Please look over them and let me know if you would like to change them. Thanks, MRH << File: Vol Curve Info.xls >> -----Original Message----- From: Stalford, Robert Sent: Tuesday, October 23, 2001 11:36 AM To: Hamlin, Mason Subject: RE: ANP Pricing Summary Mason, Harry would like to see the individual gas vols, power vols, and correlations used in your calc. Thanks. Rob -----Original Message----- From: Hamlin, Mason Sent: Tuesday, October 23, 2001 8:48 AM To: Arora, Harry; Stalford, Robert; Davis, Mark Dana Cc: Llodra, John; Herrera, Fernando Subject: ANP Pricing Summary Please review the attached update. Thanks, MRH << File: ANP summary 011022.xls >>
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subject: FW: Presentation Announcement content: We got to check this one out - see how it works. Harry -----Original Message----- From: =09Crenshaw, Shirley =20 Sent:=09Thursday, October 25, 2001 2:09 PM To:=09Associate & Analyst Program; Gilbert-smith, Doug; Arora, Harry; Stalf= ord, Robert; Davis, Mark Dana; Wang, Steve; Mack, Iris; Meyn, Jim; Hiemstra= , Nick; Seksaria, Rahul; Heintzelman, Pete; Baughman, Edward D.; May, Tom; = Dean, Anne; Dean, Clint; Gulmeden, Utku; Gulmeden, Utku; Will, John; Will, = Lloyd; Aucoin, Berney C. ; Cross, Edith; Andrews, Naveen; Imai, Rika; McMic= hael Jr., Ed; Breese, Mark; Cisneros, Michelle D.; Khanna, Sanjeev; Zhang, = Michelle; Yang, Zhiyun; Adam Stevens (E-mail); Alex Huang (E-mail); Amitava= Dhar (E-mail); Anguel Grigorov (E-mail); Anita DuPont (E-mail); Bob Lee (E= -mail); Chonawee Supatgiat (E-mail); Christopher Pernoud (E-mail); Gwyn Koe= pke (E-mail); Heather A. Johnson (E-mail); Jaesoo Lew (E-mail); Jason Sokol= ov (E-mail); Jose Marquez (E-mail); Joseph Hrgovcic (E-mail); Karthik Rajan= (E-mail); Kenneth Deng (E-mail); Kevin G Moore (E-mail); Lance Cunningham = (E-mail); Leann Walton (E-mail); Martin Lin (E-mail); Maureen Raymond (E-ma= il); Mauricio Mora (E-mail); Mike A Roberts (E-mail); Mitra Mujica (E-mail)= ; Nelson Neale (E-mail); Osman Sezgen (E-mail); Paulo Issler (E-mail); Pinn= amaneni Krishnarao (E-mail); Pravas Sud (E-mail); Praveen Mellacheruvu (E-m= ail); Rabi De (E-mail); Rakesh Bharati (E-mail); Sandeep Kohli (E-mail); Sa= rah Wooddy (E-mail); Seksan Kiatsupaibul (E-mail); Sevil Yaman (E-mail); Sh= alesh Ganjoo (E-mail); Shane Green (E-mail); Shravan Chopra (E-mail); Sofya= Tamarchenko (E-mail); Sriram Vasudevan (E-mail); Steve Bennett (E-mail); T= anya Tamarchenko (E-mail); Therese Candella (E-mail); Tom Barkley (E-mail);= Tom Halliburton (E-mail); Vasant Shanbhogue (E-mail); Vince J Kaminski (E-= mail); Wichai Narongwanich (E-mail); William Smith (E-mail); Zimin Lu (E-ma= il) Subject:=09Presentation Announcement You are invited to attend the following presentation:=20 PSIM: A Power Simulation Tool PSIM is a proprietary model developed by Enron Research Group. ?=09It takes Power, Gas, Weather and demand information into consideration = and=20 =09uses Monte-Carlo simulation to assess the expected deal value and risk d= istribution.=20 ?=09It evaluates complex electricity related contracts such as Full Requirement and load following contract.=20 ?=09It also provides a valuation tool for power assets and asset management= deals. ?=09It works for both deal specific or portfolio issues. In this presentation we will show how the model can be used to deal with va= rious types=20 of contracts, explain the model structure and point out further application= s.=20 Date:=09=09October 30, 2001 Time: =094:00 pm Location: =09EB5C2 Presenter: =09Alex Huang Registration is required for a head count.=20 Please call Shirley Crenshaw at 3-5290 to register. Pizza and soft drinks will be served.=20
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subject: RE: Harry Baby content: Hi Darren You sure did. The whole thing going around here just convinces me how the basic economics and business ideas work as they should. They all loved us for nearly four years - we could not do anything wrong and now they hate everything about us. The investors and the street is silly and stupid. While one should spend time looking for the next Microsoft, one should spend time looking for the next Enron. As for the future, I am neutral - we have a fair chance of pulling it through, though there are significant risks. If our strength is the intellectual captial - the traders and marketeres (you never hear the term franchise) - why would they hang out here for too long, the only thing holding them here is availability of capital and the tolerance of that capital to take risk. Once the capital is gone, its hard to see the traders and deal makers stay. In the end, its hard to say we will survive to be the biggest and baddest commodity trading house but we sure did pioneer it. Harry -----Original Message----- From: Delage, Darren Sent: Friday, October 26, 2001 8:24 AM To: Arora, Harry Subject: Harry Baby thought that would catch your attention. Just seeing how you are doing and what your view is on Enron cash liquidity these days...5 and 10 yr paper trades worse than junk. Hope you & Nicole are doing alright. Rgds
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subject: RE: Reminder:Interivews Thursday Trading Track content: Karen Since I will be interviewing on Thursday, I'd like to have Rob Stalford, in my group (he is the option trader) to interview for the Associate / Analyst program on Saturday. Does that work ? Rob is a manager. Could you check for me . Harry -----Original Message----- From: Buckley, Karen Sent: Friday, October 26, 2001 1:20 PM To: Allen, Phillip K.; Arnold, John; Arora, Harry; Benson, Robert; Brawner, Sandra F.; Carson, Mike; Cuilla, Martin; Davis, Mark Dana; Ermis, Frank; Forney, John M.; Gilbert-smith, Doug; Grigsby, Mike; Holst, Keith; Lewis, Andrew H.; Maggi, Mike; Martin, Thomas A.; May, Larry; Mckay, Brad; Mckay, Jonathan; Neal, Scott; Presto, Kevin M.; Schwieger, Jim; Shively, Hunter S.; Storey, Geoff; Sturm, Fletcher J.; Suarez, John; Zipper, Andy Cc: Lavorato, John; Engler, Adrianne; Solis, Felicia Subject: Reminder:Interivews Thursday Trading Track All A reminder that you are scheduled to interview for the Trading Track Thursday, November 1st, from 2.00 pm onwards. Resumes and schedules will be forwarded to you shortly. Regards, Karen Buckley
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subject: FW: 1994 Deferral Plan-Accelerated Distribution content: -----Original Message----- From: Jones, Robert W.- HR Exec Sent: Monday, October 29, 2001 1:43 PM To: Arora, Harry Subject: FW: 1994 Deferral Plan-Accelerated Distribution -----Original Message----- From: Ratcliff, Renee Sent: Thursday, October 25, 2001 1:17 PM To: Oxley, David; Jones, Robert W.- HR Exec Subject: 1994 Deferral Plan-Accelerated Distribution David/Robert, Please find attached the form for requesting an accelerated distribution from the Enron 1994 Deferral Plan. Also attached is a copy of the procedure for requesting such distribution. Have a good day. Renee
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subject: RE: content: Greg, I would love to do that. My location is 3121. Harry -----Original Message----- From: Blair, Greg Sent: Monday, October 29, 2001 1:07 PM To: Arora, Harry Cc: Cavazos, Brandon Subject: Harry: I'll be arriving in Houston later tonight and will be in town through Thursday. If your schedule permits, I'd like to sit down with you to discuss some of the things I'm working on and to update you on the status of the TECO relationship. Regards, Greg
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subject: Associate Analyst interviews content: Rob We need some-one from the trading desk to interview for associate analyst program. You may not be particularly excited, but I did suggest your name for the Super saturday on Nov 3rd. Hope you can work it in your schedule. If it does not work for you, lets chat about it tomorrow. Harry
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subject: Email address content: Dave I had a great time last evening. Do you have a personal email address ? Harry
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subject: RE: URGENT - ENA Associates & Analysts content: Karen I suggested Rob take my position on Saturday, looks like instead of replacing my spot with him, you just added him. Could you pls take me off ? Harry -----Original Message----- From: Buckley, Karen Sent: Tuesday, October 30, 2001 11:08 AM To: Gilbert-smith, Doug; Herndon, Rogers; Bentley, Corry; Arora, Harry; Jacoby, Ben; Meyn, Jim; Will, Lloyd; Gossett, Jeffrey C.; Gaskill, Chris; Allen, Phillip K.; Arnold, John; Grigsby, Mike; Martin, Thomas A.; Neal, Scott; Schwieger, Jim; Shively, Hunter S.; Luce, Laura; Vickers, Frank; Baughman, Edward D.; Mrha, Jean; Lagrasta, Fred; Tricoli, Carl; Forster, David; Curry, Mike; Miller, Don (Asset Mktg); Robinson, Mitch Cc: Lavorato, John; Kitchen, Louise Subject: FW: URGENT - ENA Associates & Analysts All, The following is the particpation list for ENA on Saturday's Associate recruiting event. There are 70 candidates coming in to interview and there is still a requirment for another 40 interviewers. Please encourage your direct reports to participate and advise as soon as possible. Regards, Karen ENA - HR November 3rd, 2001 - Participation from ENA. Harry Arora ENA VP 36750 Ruth Concannon ENA Director 31667 David Forster ENA VP 31861 John House ENA Mgr. 37558 Rahil Jafry ENA Director 33206 Oliver Jones ENA Mgr. 51640 Jim Meyn ENA Director 53223 John Moore ENA Director 35774 Rob Stalford ENA Mgr. 36768 Lloyd Will ENA Director 33383 -----Original Message----- From: Buckley, Karen Sent: Tuesday, October 23, 2001 6:56 PM To: Duran, W. David; Baughman, Edward D.; Tingleaf, Drew; Kroll, Heather; Marks, David; Scheuer, Janelle; Jafry, Rahil; Sturm, Fletcher J.; Davis, Mark Dana; Benson, Robert; Carson, Mike; Gilbert-smith, Doug; Herndon, Rogers; Bentley, Corry; Arora, Harry; Jacoby, Ben; Meyn, Jim; Will, Lloyd; Gossett, Jeffrey C.; Gaskill, Chris; Allen, Phillip K.; Arnold, John; Grigsby, Mike; Martin, Thomas A.; Neal, Scott; Schwieger, Jim; Shively, Hunter S.; Luce, Laura; Vickers, Frank; Baughman, Edward D.; Mrha, Jean; Lagrasta, Fred; Tricoli, Carl Cc: Lavorato, John; Kitchen, Louise Subject: URGENT - ENA Associates & Analysts << File: ENA Participation.xls >> All, The below Analyst & Associate recruiting dates require ENA participation at Manager level at above. In order to resource each of your departments it is important to have ENA's involvement and participation in the interviews and debrief sessions on Fantastic Friday and Super Saturday events. These de-brief sessions will allow you the opportunity to select candidates you wish to join your groups. The target is to assign potential candidates to business units and departments from the outset. As ENA has the highest percentage of A&A rotating in its business unit, the participation of ENA at interview should reflect this. Therefore, please encourage your direct reports and managers to participate in the below events in order to secure candidates for your business area. Associate Recruiting: Saturday November 3 Total - 70 Candidates for Interview Analyst Recruiting: Friday, November 16 Total - 70 Candidates for Interivew Associate Recruiting: Saturday, December 1 Total - 70 Candidates for Interview The above spreadsheet represents ENA's particpation today which I believe highlights the need for much additional support in these efforts. Please confirm by return participation of your respective groups. Regards, Karen Buckley HR - ENA
arora-h/sent_items/51.
subject: RE: PPL Tolling with Wallingford - we were not shortlisted content: Woody Did this include any ICAP ? Do we have any idea of who is bidding that one ? I think we need to frame a reverse RFP on this one to see if we could get some-one to buy 4.50$ without the congestion. Harry -----Original Message----- From: Wood, George Sent: Tuesday, October 30, 2001 1:21 PM To: Arora, Harry; Stalford, Robert; Davis, Mark Dana; Broderick, Paul J.; Llodra, John; Lewis, Barry; Herrera, Fernando Subject: PPL Tolling with Wallingford - we were not shortlisted Importance: High Here is the feedback .... they got 12 responses and shortlisted four We were number 10 or 11 on the list (our fixed was 3.75, with 1.50 floating and $500 per unit start charge for 5 yrs, 3 - GE LM 6000) winning bid was over $5 - I am guessing around $5.50 they think their congestion premium should be around $1 hope to get more information in the near future thanks Woody
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subject: RE: content: Sure -----Original Message----- From: Blair, Greg Sent: Tuesday, October 30, 2001 1:26 PM To: Arora, Harry Subject: RE: How does 3:30 today sound? -----Original Message----- From: Arora, Harry Sent: Monday, October 29, 2001 3:31 PM To: Blair, Greg Subject: RE: Greg, I would love to do that. My location is 3121. Harry -----Original Message----- From: Blair, Greg Sent: Monday, October 29, 2001 1:07 PM To: Arora, Harry Cc: Cavazos, Brandon Subject: Harry: I'll be arriving in Houston later tonight and will be in town through Thursday. If your schedule permits, I'd like to sit down with you to discuss some of the things I'm working on and to update you on the status of the TECO relationship. Regards, Greg
arora-h/sent_items/53.
subject: RE: November 1st - Trading Track Interviews content: Karen Just to confirm, I am not doing these interviews. Harry -----Original Message----- From: Buckley, Karen Sent: Tuesday, October 30, 2001 2:18 PM To: Suarez, John; Cuilla, Martin; Schwieger, Jim; Brawner, Sandra F.; Carson, Mike; Arnold, John; Holst, Keith; Grigsby, Mike; King, Jeff; Benson, Robert; Ermis, Frank; Allen, Phillip K.; Arora, Harry; Forney, John M.; Mckay, Jonathan; Neal, Scott; Gilbert-smith, Doug; Shively, Hunter S.; Lewis, Andrew H.; Davis, Mark Dana; Zipper, Andy; Maggi, Mike; Presto, Kevin M.; May, Larry; Sturm, Fletcher J.; Mckay, Brad; Martin, Thomas A.; Storey, Geoff; Keavey, Peter F.; Ruscitti, Kevin Cc: Lavorato, John; Hillis, Kimberly; Rangel, Ina; Black, Tamara Jae; Bates, Kimberly; Villarreal, Alexandra; Resendez, Rosie; Engler, Adrianne Subject: November 1st - Trading Track Interviews All, You are all confirmed as interviewers for the Trading Track - November 1st. We have 33 candidates to be interviewed (a combination of both internal and external candidates). You will each receive your resumes tomorrow and interview location information (as before it will take place at the Allen Center). The interviews will commence at 2.00 pm and finish at 5.:30. A de-brief, will follow directly afterwards at the Double Tree Hotel (Dover Room) where you will decide on those candidates to be hired into the ENA Trading Track. Please allow 1/1.5 hours for the de-brief. Regards, Karen x54667
arora-h/sent_items/54.
subject: RE: November 1st - Trading Track Interviews content: My mistake, I am good for Thursday. Harry -----Original Message----- From: Buckley, Karen Sent: Tuesday, October 30, 2001 2:33 PM To: Arora, Harry Subject: RE: November 1st - Trading Track Interviews I have you confirmed as doing the Track Track interviews... you are not however doing the Associate interviews on Saturday. Karen. -----Original Message----- From: Arora, Harry Sent: Tuesday, October 30, 2001 2:29 PM To: Buckley, Karen Subject: RE: November 1st - Trading Track Interviews Karen Just to confirm, I am not doing these interviews. Harry -----Original Message----- From: Buckley, Karen Sent: Tuesday, October 30, 2001 2:18 PM To: Suarez, John; Cuilla, Martin; Schwieger, Jim; Brawner, Sandra F.; Carson, Mike; Arnold, John; Holst, Keith; Grigsby, Mike; King, Jeff; Benson, Robert; Ermis, Frank; Allen, Phillip K.; Arora, Harry; Forney, John M.; Mckay, Jonathan; Neal, Scott; Gilbert-smith, Doug; Shively, Hunter S.; Lewis, Andrew H.; Davis, Mark Dana; Zipper, Andy; Maggi, Mike; Presto, Kevin M.; May, Larry; Sturm, Fletcher J.; Mckay, Brad; Martin, Thomas A.; Storey, Geoff; Keavey, Peter F.; Ruscitti, Kevin Cc: Lavorato, John; Hillis, Kimberly; Rangel, Ina; Black, Tamara Jae; Bates, Kimberly; Villarreal, Alexandra; Resendez, Rosie; Engler, Adrianne Subject: November 1st - Trading Track Interviews All, You are all confirmed as interviewers for the Trading Track - November 1st. We have 33 candidates to be interviewed (a combination of both internal and external candidates). You will each receive your resumes tomorrow and interview location information (as before it will take place at the Allen Center). The interviews will commence at 2.00 pm and finish at 5.:30. A de-brief, will follow directly afterwards at the Double Tree Hotel (Dover Room) where you will decide on those candidates to be hired into the ENA Trading Track. Please allow 1/1.5 hours for the de-brief. Regards, Karen x54667
arora-h/sent_items/55.
subject: RE: Hi content: Hi Roy Good to hear from you. I am glad to hear things are going well. This consolidation in the markets and the economy has been quite severe. I can tell you it has not been fun working with a 50 multiple company either as the p/e contracts to 7. But nevertheless this had been interesting times. We ramped down DealBench in good time. It was a good decision and precipitated some good thinking. Practically, everyone moved out of ecommerce. Its just crazy when you think how things were 18 months ago. . Power trading has been immensely interesting. I am running the options desk and we have had a decent year. Energy trading is fascinating and coupled with my macro background from bond trading,it becomes lot of fun. Say hi to Loreli. Do let me have your Hong Kong phone number. Harry -----Original Message----- From: Roy Ibasco [mailto:[email protected]] Sent: Tuesday, October 30, 2001 1:35 PM To: Arora, Harry Subject: Hi Hi Harry, Just wanted to say hi. I saw Miguel Vasquez lately and I heard from him that you moved back to trading. Since I left Enron, I've done Telecom banking for a year in Asia with Lehman. In that group, I've done a lot of valuation and financial analyses. Deal flow suffered in the telecom industry with the downturn in market conditions. On my second year at Lehman, I seized the opportunity to do coverage banking, i.e. winning clients in the Philippines and Taiwan. With this step, I was fortunate to lead an M&A deal in the consumer goods sector. It also gave me exposure in energy and financial institutions. Thanks to my Enron background, I actually showed my value added to Lehman in energy. It pays to be a generalist in times like this. The layoffs in banking has been severe. I have survived so far a big reduction among people of my level. Good thing I still got a raise this year as many did not. I don't know about the long term prospects of investment banking but I am thankful that I have a job. Recently I caught up with my b-school friends in San Francisco and found out that it is equally bad there. Coincidentally, I caught up with a friend of mine who interviewed with Madhur Dayal who know works with Thomas Weisel in San Francisco. My wife, Loreli, was able to find a job at the South China Morning Post last July. So far, we are both enjoying Hong Kong. Long term though, I believe the U.S. makes sense for both of us. Hope everything is going well with you. Please let me know if you just happen to be in Hong Kong. Best regards, Roy _____ Get more from the Web. FREE MSN Explorer download : <http://explorer.msn.com>
arora-h/sent_items/56.
subject: FW: Hi content: -----Original Message----- From: Roy Ibasco [mailto:[email protected]] Sent: Tuesday, October 30, 2001 1:35 PM To: Arora, Harry Subject: Hi Hi Harry, Just wanted to say hi. I saw Miguel Vasquez lately and I heard from him that you moved back to trading. Since I left Enron, I've done Telecom banking for a year in Asia with Lehman. In that group, I've done a lot of valuation and financial analyses. Deal flow suffered in the telecom industry with the downturn in market conditions. On my second year at Lehman, I seized the opportunity to do coverage banking, i.e. winning clients in the Philippines and Taiwan. With this step, I was fortunate to lead an M&A deal in the consumer goods sector. It also gave me exposure in energy and financial institutions. Thanks to my Enron background, I actually showed my value added to Lehman in energy. It pays to be a generalist in times like this. The layoffs in banking has been severe. I have survived so far a big reduction among people of my level. Good thing I still got a raise this year as many did not. I don't know about the long term prospects of investment banking but I am thankful that I have a job. Recently I caught up with my b-school friends in San Francisco and found out that it is equally bad there. Coincidentally, I caught up with a friend of mine who interviewed with Madhur Dayal who know works with Thomas Weisel in San Francisco. My wife, Loreli, was able to find a job at the South China Morning Post last July. So far, we are both enjoying Hong Kong. Long term though, I believe the U.S. makes sense for both of us. Hope everything is going well with you. Please let me know if you just happen to be in Hong Kong. Best regards, Roy _____ Get more from the Web. FREE MSN Explorer download : <http://explorer.msn.com>
arora-h/sent_items/57.
subject: FW: Two cow theory content: -----Original Message----- From: Wang, Steve Sent: Friday, November 02, 2001 10:00 AM To: Stalford, Robert; Arora, Harry; Gualy, Jaime; Mack, Iris Subject: FW: Two cow theory -----Original Message----- From: Hodnette, Brooks [mailto:[email protected]] Sent: Friday, November 02, 2001 9:58 AM To: Wang, Steve; Adam Hoffman (E-mail); Dean Sloan (E-mail) Subject: Two cow theory > Enron Venture Capitalism > You have two cows. > You sell three of them to your publicly listed company, using letters of > credit opened by your brother-in-law at the bank, then execute a debt/ > equity swap with an associated general offer so that you get all four cows > back, with a tax exemption for five cows. The milk rights of the six cows > are transferred via an intermediary to a Cayman Island company secretly > owned by the majority shareholder who sells the rights to all seven cows > back to your listed company. The annual report says the company owns > eight cows, with an option on one more. >
arora-h/sent_items/58.
subject: RE: Synthetic Peaker content: Greg 1. Who made these prices ? 2. Is this a into TVA product 3. Is this a 3 yr starting 2003 they are asking for ? 4. How much size are they interested in ? 5. Is this a day ahead 5x16 (16 hour minimum) product or is there a 4hr/8hr min ? Harry -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 12:25 PM To: Arora, Harry; Cavazos, Brandon Subject: FW: Synthetic Peaker Harry and Brandon: Apparently, we are not as competitive as we need to be here. Let me know if there's anything we can do here to make this more attractive. My quote to them is at the bottom of the thread. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Fri 11/2/2001 11:07 AM To: Blair, Greg Cc: Goza, Stuart L. Subject: RE: Synthetic Peaker Greg: We have completed our evaluation of the two proposed structures (1) May through September and (2) June through August for a three year duration beginning in 2003. Unfortunately, based on the prices quoted below, neither evaluates well enough that we would want to pursue any further. We appreciate your interest and remain interested in any future proposals you may want to offer. Regards, Wayne Hilson (4230 751-2916 -----Original Message----- From: [email protected] [ <mailto:[email protected]>] Sent: Tuesday, October 23, 2001 5:33 PM To: [email protected] Subject: RE: Synthetic Peaker Any idea on timing of a response? Just curious. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Monday, October 15, 2001 4:06 PM To: Blair, Greg Subject: RE: Synthetic Peaker Thanks. We'll be in touch. -----Original Message----- From: Blair, Greg [ <mailto:[email protected]>] Sent: Monday, October 15, 2001 3:32 PM To: [email protected] Subject: Synthetic Peaker Wayne: May 1 through Sep 30: $5.83/kw-mo Jun 1 through Aug 31: $8.78/kw/mo Heat Rate: 10,900 VOM: $1.63/MWh Term: 3 years Start: 2003 Availability: 5x16 Delivery: Into TVA Regards, Greg ********************************************************************** 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. **********************************************************************
arora-h/sent_items/59.
subject: FW: Synthetic Peaker content: -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 1:32 PM To: Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker Harry: In response to your questions: 1. Brandon put together the indicative, off the spread option model. 2. Yes, this is into TVA 3. Yes, it is for a three-year period commencing in '03 4. Size is 200 MW 5. Dispatch is day-ahead w/16 hour minimum. I copied Brandon on this so he can follow the entire thread and respond to you or assist you, as necessary. -----Original Message----- From: Arora, Harry Sent: Fri 11/2/2001 12:38 PM To: Blair, Greg Cc: Subject: RE: Synthetic Peaker Greg 1. Who made these prices ? 2. Is this a into TVA product 3. Is this a 3 yr starting 2003 they are asking for ? 4. How much size are they interested in ? 5. Is this a day ahead 5x16 (16 hour minimum) product or is there a 4hr/8hr min ? Harry -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 12:25 PM To: Arora, Harry; Cavazos, Brandon Subject: FW: Synthetic Peaker Harry and Brandon: Apparently, we are not as competitive as we need to be here. Let me know if there's anything we can do here to make this more attractive. My quote to them is at the bottom of the thread. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Fri 11/2/2001 11:07 AM To: Blair, Greg Cc: Goza, Stuart L. Subject: RE: Synthetic Peaker Greg: We have completed our evaluation of the two proposed structures (1) May through September and (2) June through August for a three year duration beginning in 2003. Unfortunately, based on the prices quoted below, neither evaluates well enough that we would want to pursue any further. We appreciate your interest and remain interested in any future proposals you may want to offer. Regards, Wayne Hilson (4230 751-2916 -----Original Message----- From: [email protected] [ <mailto:[email protected]>] Sent: Tuesday, October 23, 2001 5:33 PM To: [email protected] Subject: RE: Synthetic Peaker Any idea on timing of a response? Just curious. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Monday, October 15, 2001 4:06 PM To: Blair, Greg Subject: RE: Synthetic Peaker Thanks. We'll be in touch. -----Original Message----- From: Blair, Greg [ <mailto:[email protected]>] Sent: Monday, October 15, 2001 3:32 PM To: [email protected] Subject: Synthetic Peaker Wayne: May 1 through Sep 30: $5.83/kw-mo Jun 1 through Aug 31: $8.78/kw/mo Heat Rate: 10,900 VOM: $1.63/MWh Term: 3 years Start: 2003 Availability: 5x16 Delivery: Into TVA Regards, Greg ********************************************************************** 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. **********************************************************************
arora-h/sent_items/6.
subject: RE: content: Shaka man Hope you are having a good time. Things did indeed move out of control sooner than anyone could have imagined. Its been one heck of an experience watching the situation and learning about how leadership works and how markets can make you and destroy you. As to what next, my first idea is to just take time off and chill out for a few weeks and then see what to do next. Talk to you soon Harry -----Original Message----- From: Shaka Jaggi [mailto:[email protected]] Sent: Thursday, November 29, 2001 1:14 AM To: Arora, Harry Subject: Hey Harry, How are you doing? I am in India at the moment and heard the news, its unreal, who would have thought. What you are going to do now? Shoot me an email on whats going on? Do you have a Yahoo/Hotmail account?? Shaka __________________________________________________ Do You Yahoo!? Yahoo! GeoCities - quick and easy web site hosting, just $8.95/month. http://geocities.yahoo.com/ps/info1
arora-h/sent_items/60.
subject: FW: Synthetic Peaker content: -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 3:45 PM To: Blair, Greg; Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker P.S. I'm in NY, at home, if either of you need to speak with me. 516 746-1751. -----Original Message----- From: Blair, Greg Sent: Fri 11/2/2001 3:43 PM To: Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker Harry and Brandon: Just got off the phone with the customer. Seems we were sufficiently off the market that they didn't see any upside in stringing us along. I told them that the indicative price came from our structuring group and that we would now try to tighten things up directly with the desk. Ergo, we get another shot. Let's make it a good one. -----Original Message----- From: Arora, Harry Sent: Fri 11/2/2001 12:38 PM To: Blair, Greg Cc: Subject: RE: Synthetic Peaker Greg 1. Who made these prices ? 2. Is this a into TVA product 3. Is this a 3 yr starting 2003 they are asking for ? 4. How much size are they interested in ? 5. Is this a day ahead 5x16 (16 hour minimum) product or is there a 4hr/8hr min ? Harry -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 12:25 PM To: Arora, Harry; Cavazos, Brandon Subject: FW: Synthetic Peaker Harry and Brandon: Apparently, we are not as competitive as we need to be here. Let me know if there's anything we can do here to make this more attractive. My quote to them is at the bottom of the thread. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Fri 11/2/2001 11:07 AM To: Blair, Greg Cc: Goza, Stuart L. Subject: RE: Synthetic Peaker Greg: We have completed our evaluation of the two proposed structures (1) May through September and (2) June through August for a three year duration beginning in 2003. Unfortunately, based on the prices quoted below, neither evaluates well enough that we would want to pursue any further. We appreciate your interest and remain interested in any future proposals you may want to offer. Regards, Wayne Hilson (4230 751-2916 -----Original Message----- From: [email protected] [ <mailto:[email protected]>] Sent: Tuesday, October 23, 2001 5:33 PM To: [email protected] Subject: RE: Synthetic Peaker Any idea on timing of a response? Just curious. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Monday, October 15, 2001 4:06 PM To: Blair, Greg Subject: RE: Synthetic Peaker Thanks. We'll be in touch. -----Original Message----- From: Blair, Greg [ <mailto:[email protected]>] Sent: Monday, October 15, 2001 3:32 PM To: [email protected] Subject: Synthetic Peaker Wayne: May 1 through Sep 30: $5.83/kw-mo Jun 1 through Aug 31: $8.78/kw/mo Heat Rate: 10,900 VOM: $1.63/MWh Term: 3 years Start: 2003 Availability: 5x16 Delivery: Into TVA Regards, Greg ********************************************************************** 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. **********************************************************************
arora-h/sent_items/61.
subject: RE: Laid off content: Hi Nik This is the nasty side of American business. There is nothing to be embarassed or discouraged about. These are hard times and I think your graduation timing is no help either. People graduating '98 through '00 had it goood. But hang in there, opportunities are fewer, but they are out there. You might want to broaden your search into energy and healthcare. Enron is one heck of a story. What a ride ! The only conclusion I have is, next time I see some professor about efficient stock markets, I am going to smack him bad. As hard it is to manage businesses in trouble, it is not easy to manage businesses which are over-valued either. There is huge propensity for management to be complacent and attribute it to themselves, while it might be the investors folly and nothing more. I have been on the ride up and down and all I can say is you live and you learn. I will look out for opportunities out here. Enron is trying to stay close to core businesses but the energy industry in general is still hiring and complacent. You keep at it bud, and things are going to get better. This market economy beast can be hard to handle at times but in the end it works out. Say hi to Cindy and Noah. Harry -----Original Message----- From: Harnek 'Nik' Minhas [mailto:[email protected]] Sent: Thursday, November 01, 2001 10:36 AM To: Arora, Harry Subject: Laid off Harry: I am kind of embarassed to write this mail to you but just wanted to let you know that I was laid off by my firm last week. Although I am really mad at the way I was treated, I am ready to move on. I am not too sure as to what I am going to do as jobs here in this country are pretty rare these days. But we have planned to stay in Boston for a month and failing which we will move with my sister in NJ and stay there for a couple of months and if nothing works out we will go back to Vancouver. Although I am not too sure what I am going to do in Vancouver. But I thought I should share this with you and in case you have any opportunities for people with my skills in mind you can let me know. I know Enron itself has been going through some shaky times at the moment. It seems that suddenly bad news is raining from all directions or pouring is perhaps a right word to describe it. Bye for now and keep in touch. Harnek
arora-h/sent_items/62.
subject: RE: Synthetic Peaker content: Iris The power prices are not financially settled, they are settled by physical delivery, the gas prices are settled against 'Gas Daily' index. What we will need to also look at is, the contractual provision, for 2003 onwards, when the RTO is expected to kick in. Also, lets look at some other term sheets and make a more robust one. What might be a good idea is to call John Llodra and see if he has any old ones he could mail us. Harry -----Original Message----- From: Mack, Iris Sent: Monday, November 05, 2001 10:32 AM To: Arora, Harry; Blair, Greg Subject: RE: Synthetic Peaker Greg, Attached is a term sheet for the TVA tolling deal. Please call us on the options desk to discuss after you've taken a look at it. Thanks, Iris Mack x3-6711 -----Original Message----- From: Arora, Harry Sent: Monday, November 05, 2001 8:37 AM To: Mack, Iris Subject: FW: Synthetic Peaker -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 3:45 PM To: Blair, Greg; Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker P.S. I'm in NY, at home, if either of you need to speak with me. 516 746-1751. -----Original Message----- From: Blair, Greg Sent: Fri 11/2/2001 3:43 PM To: Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker Harry and Brandon: Just got off the phone with the customer. Seems we were sufficiently off the market that they didn't see any upside in stringing us along. I told them that the indicative price came from our structuring group and that we would now try to tighten things up directly with the desk. Ergo, we get another shot. Let's make it a good one. -----Original Message----- From: Arora, Harry Sent: Fri 11/2/2001 12:38 PM To: Blair, Greg Cc: Subject: RE: Synthetic Peaker Greg 1. Who made these prices ? 2. Is this a into TVA product 3. Is this a 3 yr starting 2003 they are asking for ? 4. How much size are they interested in ? 5. Is this a day ahead 5x16 (16 hour minimum) product or is there a 4hr/8hr min ? Harry -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 12:25 PM To: Arora, Harry; Cavazos, Brandon Subject: FW: Synthetic Peaker Harry and Brandon: Apparently, we are not as competitive as we need to be here. Let me know if there's anything we can do here to make this more attractive. My quote to them is at the bottom of the thread. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Fri 11/2/2001 11:07 AM To: Blair, Greg Cc: Goza, Stuart L. Subject: RE: Synthetic Peaker Greg: We have completed our evaluation of the two proposed structures (1) May through September and (2) June through August for a three year duration beginning in 2003. Unfortunately, based on the prices quoted below, neither evaluates well enough that we would want to pursue any further. We appreciate your interest and remain interested in any future proposals you may want to offer. Regards, Wayne Hilson (4230 751-2916 -----Original Message----- From: [email protected] [ <mailto:[email protected]>] Sent: Tuesday, October 23, 2001 5:33 PM To: [email protected] Subject: RE: Synthetic Peaker Any idea on timing of a response? Just curious. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Monday, October 15, 2001 4:06 PM To: Blair, Greg Subject: RE: Synthetic Peaker Thanks. We'll be in touch. -----Original Message----- From: Blair, Greg [ <mailto:[email protected]>] Sent: Monday, October 15, 2001 3:32 PM To: [email protected] Subject: Synthetic Peaker Wayne: May 1 through Sep 30: $5.83/kw-mo Jun 1 through Aug 31: $8.78/kw/mo Heat Rate: 10,900 VOM: $1.63/MWh Term: 3 years Start: 2003 Availability: 5x16 Delivery: Into TVA Regards, Greg ********************************************************************** 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. **********************************************************************
arora-h/sent_items/63.
subject: RE: Synthetic Peaker content: This is for energy only, i.e, its an into product, but we may source it from anywhere in the market. Harry -----Original Message----- From: Mack, Iris Sent: Monday, November 05, 2001 10:32 AM To: Arora, Harry; Blair, Greg Subject: RE: Synthetic Peaker Greg, Attached is a term sheet for the TVA tolling deal. Please call us on the options desk to discuss after you've taken a look at it. Thanks, Iris Mack x3-6711 -----Original Message----- From: Arora, Harry Sent: Monday, November 05, 2001 8:37 AM To: Mack, Iris Subject: FW: Synthetic Peaker -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 3:45 PM To: Blair, Greg; Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker P.S. I'm in NY, at home, if either of you need to speak with me. 516 746-1751. -----Original Message----- From: Blair, Greg Sent: Fri 11/2/2001 3:43 PM To: Arora, Harry Cc: Cavazos, Brandon Subject: RE: Synthetic Peaker Harry and Brandon: Just got off the phone with the customer. Seems we were sufficiently off the market that they didn't see any upside in stringing us along. I told them that the indicative price came from our structuring group and that we would now try to tighten things up directly with the desk. Ergo, we get another shot. Let's make it a good one. -----Original Message----- From: Arora, Harry Sent: Fri 11/2/2001 12:38 PM To: Blair, Greg Cc: Subject: RE: Synthetic Peaker Greg 1. Who made these prices ? 2. Is this a into TVA product 3. Is this a 3 yr starting 2003 they are asking for ? 4. How much size are they interested in ? 5. Is this a day ahead 5x16 (16 hour minimum) product or is there a 4hr/8hr min ? Harry -----Original Message----- From: Blair, Greg Sent: Friday, November 02, 2001 12:25 PM To: Arora, Harry; Cavazos, Brandon Subject: FW: Synthetic Peaker Harry and Brandon: Apparently, we are not as competitive as we need to be here. Let me know if there's anything we can do here to make this more attractive. My quote to them is at the bottom of the thread. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Fri 11/2/2001 11:07 AM To: Blair, Greg Cc: Goza, Stuart L. Subject: RE: Synthetic Peaker Greg: We have completed our evaluation of the two proposed structures (1) May through September and (2) June through August for a three year duration beginning in 2003. Unfortunately, based on the prices quoted below, neither evaluates well enough that we would want to pursue any further. We appreciate your interest and remain interested in any future proposals you may want to offer. Regards, Wayne Hilson (4230 751-2916 -----Original Message----- From: [email protected] [ <mailto:[email protected]>] Sent: Tuesday, October 23, 2001 5:33 PM To: [email protected] Subject: RE: Synthetic Peaker Any idea on timing of a response? Just curious. -----Original Message----- From: "Hilson, D. Wayne" <[email protected]>@ENRON Sent: Monday, October 15, 2001 4:06 PM To: Blair, Greg Subject: RE: Synthetic Peaker Thanks. We'll be in touch. -----Original Message----- From: Blair, Greg [ <mailto:[email protected]>] Sent: Monday, October 15, 2001 3:32 PM To: [email protected] Subject: Synthetic Peaker Wayne: May 1 through Sep 30: $5.83/kw-mo Jun 1 through Aug 31: $8.78/kw/mo Heat Rate: 10,900 VOM: $1.63/MWh Term: 3 years Start: 2003 Availability: 5x16 Delivery: Into TVA Regards, Greg ********************************************************************** 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. **********************************************************************
arora-h/sent_items/64.
subject: RE: Con-Ed - Lakewood New Jersey Synthetic Peaker content: What is the exact location (in terms of LMP) - is this a PJM east or PJM west hub ? Is it connected to NY, either Zone G or Zone J ? -----Original Message----- From: Blair, Greg Sent: Monday, November 05, 2001 3:56 PM To: Cavazos, Brandon Cc: Arora, Harry Subject: RE: Con-Ed - Lakewood New Jersey Synthetic Peaker Brandon and Harry: Brandon: I assume the pricing is at the mids. Also, since the spread between the 1.50VOM and the 3.00VOM is so small, I'll just quote the 1.50. Harry: Please look at the entire email thread (to get a sense of all the metrics we're employing for this quote). ConEd has already announced a 3x7FA peaker configuration for Lakewood, NJ. The site is already owned by ConEd, part of an existing 230MW combined cycle plant they already own. It's on the same transmission line (running to the south) as the Oyster Creek nuclear facility, which has a license expiration in 2009. The existing plant is a non-merchant EWG, selling 215MW to JCP&L pusuant to a twenty-year PPA expiring in 2014. ConEd has put out an RFP to sell 200-250MW of the peaking capacity from this planned facility. They planned to have the unit operational by June 2002. If we provide this synthetic toll, the plant construction would be deferred. Let me know if we can do 350 to 500MW and let's talk about appropriate spreads above the mids. Also, please be mindful of their desire for 8 hour mins. Thanks -----Original Message----- From: Cavazos, Brandon Sent: Monday, November 05, 2001 4:38 PM To: Blair, Greg Cc: Hiemstra, Nick Subject: FW: Con-Ed - Lakewood New Jersey Synthetic Peaker Pricing as follows: For the 3 year option: $1.50 VOM - $1.77 $3.00 VOM - $1.69 For the 4 year option: $1.50 VOM - $1.74 $3.00 VOM - $1.66 As always, these prices are indicative. For a product of that size (350-500MW), I would probe the customer to find a break-even/cost of construction price, and approach Harry to get the risk premium. Let me know how it works out, Brandon Cavazos Enron North America 1400 Smith Street Houston, TX 77002 713-345-3335 [email protected] -----Original Message----- From: Blair, Greg Sent: Monday, November 05, 2001 1:54 PM To: Cavazos, Brandon Subject: Con-Ed - Lakewood New Jersey Synthetic Peaker Brandon: Got another one!!! What: 350-500MW Peaker Where: Lakewood, NJ (in PJM, about 40-50 miles south of NYC, off the Garden State Parkway - Look on a road atlas to get the location right for LMP pricing) Heat Rate: 10,900 VOM: Price it two ways ($1.50/MWh and $3.00/MWh) Gas: Transco Zone 6 - Non New York Avail: 5x16, year round, day ahead dispatch w/ 8 hour minimums. Start Date: June '02 Term: 3 years (show me 4 years also, please) Call me if you have questions. Thanks much.
arora-h/sent_items/65.
subject: RE: Comed Option content: What I heard was this was being handled by Exelon guys, so it makes sense. These guys prefer dealing with old utiliity guys and so we will need to break-in to get access to some of these deals. Harry -----Original Message----- From: Forster, David Sent: Tuesday, November 06, 2001 12:00 PM To: Arora, Harry Subject: FW: Comed Option Harry, Update on Comed. It's unbelievable how unresponsive these guys are. Dave -----Original Message----- From: Clynes, Terri Sent: Tuesday, November 06, 2001 9:54 AM To: Forster, David Subject: RE: Comed Option We spoke to our contact at Comed and he gave us the names of two other contacts at Exelon that would be handling those type of options. Doug and Maria left messages when I was out of the office. We have yet to hear back from them. Terri -----Original Message----- From: Forster, David Sent: Friday, November 02, 2001 5:03 PM To: Clynes, Terri Subject: Comed Option Were you ever able to get ahold of Comed on this? Dave
arora-h/sent_items/66.
subject: RE: incomming! content: Thats wierd. -----Original Message----- From: Nicole Wolf [mailto:[email protected]] Sent: Thursday, November 08, 2001 9:40 AM To: Arora, Harry Subject: incomming! e-mail I was telling u about. ----- Forwarded by Nicole Wolf/Hou-Mktg/EnergyTrading/PEC on 11/08/2001 09:39 AM ----- Kelly Busch <kbusch000@ya To: [email protected] hoo.com> cc: Subject: incomming! 10/31/2001 04:57 PM Hey Nicole- I got your email via Steve Wang-- he actually came to me with it-- did you send it along? It was great meeting you this weekend-- what a wild night-- was really a great party. I'm sending my resume along-- just had a page maker competent friend tweak it--- looks pretty flash! Thanks so much for your help-- I look forward to seeing you again! -Kelly 713 993 0431 oh, and my aol IM is kbusch14 __________________________________________________ Do You Yahoo!? Make a great connection at Yahoo! Personals. http://personals.yahoo.com
arora-h/sent_items/67.
subject: RE: Dominion Opportunities content: Greg There has been just too many rumors flying around here to quote real long term deals. Give me a day or so to put numbers on long dated deals. Harry -----Original Message----- From: Blair, Greg Sent: Wednesday, November 07, 2001 12:25 PM To: Arora, Harry Subject: FW: Dominion Opportunities Harry: Any idea when you'll get a chance to respond to these questions? I'd like to get back to my counterparties ASAP. Understand you're probably very busy. Just give me an estimate, if you can. Regards, Greg -----Original Message----- From: Blair, Greg Sent: Tuesday, November 06, 2001 10:30 AM To: Arora, Harry; Mack, Iris; Cavazos, Brandon Subject: Dominion Opportunities Harry, Iris and Brandon: Just finished up another call with my counterparty at Dominion. Here are the opportunities: 1. GridSouth - (They really want to dump in "CP&L East" - anything we can do to facilitate this will better meet customer requirements. Capacity: 2003 - 100MW 2004 - 250MW 2005 - 570MW for five years Will accept day-ahead dispatch. Really want 8 hour minimum runs w/ 5x16 availability. Heat Rate: 7200 VOM $2/MWh 2. Entergy - They want a straight 7x24, 365-day power purchase @ fixed price. Capacity: 65MW Start Date: July 2002 Term: 5 Years Price: $x/MWh 3. TVA - Peaker Really want intra-day call w/4hr notice for 4hr minimum run time. Capacity: Tell me what, if any, we can do. Start Date: June 2004 Availability: 5x16 June-Aug; Dec-Mar Heat Rate: 10,900 VOM: $2/MWh Let's really try to see if we can do the intra-day. If absolutely not available for 4hr min run time, see if we can do 8hr min. If this is absolutely not possible, let's try to quote day-ahead 8hr min at the very least. 4. TVA - Combined Cycle This one we already quoted at $3.97/KW-mo for 4-year, 5x16 call, beginning 1/1/03 for 7,000 Heat Rate; $2 VOM. This was for day-ahead, 16hr min run time. Tell me how much the price changes if we reduce min run time from 16hrs to 8hrs. Please call me in NY @ 212-715-5953 to discuss, if you have any questions. Thanks for all your work. I think we have a real opportunity here, if we can respond positively on a few fronts. Regards, Greg
arora-h/sent_items/68.
subject: FW: Chemist Request in Delhi content: -----Original Message----- From: Kapoor, Sumant Sent: Tuesday, November 13, 2001 10:08 AM To: Arora, Harry Subject: Chemist Request in Delhi Hi Harry, The Chemist in Delhi (Kuber Chemist ) has requested for the phone number for New Jersey address. I presume that is required by the courier service in India. He also mentions that the medicines will take about a week to arrive from the date of departure. Regards, Sumant
arora-h/sent_items/7.
subject: A couple of things content: Ben 1. Bruce Sukaly did call me and I am having lunch with him tomorrow. 2. Could you share more of the presentation you have? It is very informative about their thought processes and ideas. It would be nice to gloss through that whole thing (I dont need to keep a copy or anything) Harry
arora-h/sent_items/8.
subject: FW: Hi content: -----Original Message----- From: Espen Haug [mailto:[email protected]] Sent: Wednesday, November 28, 2001 10:55 AM To: Arora, Harry Subject: Hi Hi, we are a Hedge Fund in Greenwich CT trading energy, could you pls giv me a call: phone 203-861 4838 I tried to call you at 713-826-4620 but could not get through Regards, espen
arora-h/sent_items/9.
subject: RE: TVA Synthetic Peaker content: Greg As you know, following the downgrade, there is total inability for us to trade. I dont think it makes any sense to put any numbers anywhere. Give me a call and I would like to chat about various stuff should trade and where the current markets are. Hope you are doing well. Harry Arora
arora-h/sent/1.
subject: Re: Aspen content: Yolanda I will be attending the ski outing - I am not sure about my arrival and departure dates, but I did put tentative dates. Once I make my bookings I will update you on my final dates. I might stay an extra day, and will pick that up. Thanks Harry
arora-h/sent/2.
subject: Tasks content: Suresh For the next two weeks, I'd like you to focus on the following. 1. Development frame-work and getting Zach upto speed Specs for Syndication report & testing & production date Finalize questionnaire and production date Modifications to Invitee and User stats 2. EnronOnline auctions - structure, and hash out details to enable kick off 3. Legal frame-work , shorten contracts for both deal-rooms and auctions 4. Marketing materials for procurement - and leasing, mail to top 100 list. 5.Complete transfer of operations to Networks group (Sherri Thomas's group) 6. Budget changes 7. Finalize hiring needs for Q1 and Q2 8. Focus each of the marketing leads on revenue, client lists, outreach, marketing and sales strategy Ross - procurement Don - Banks Toby - Data rooms Miguel - leases, legal and other data rooms 9. Dataroom development frame-work Harry
arora-h/sent/3.
subject: Business Plan content: Dave Find enclosed the business plan and the valuation model for DealBench. Feel free to call me with questions. Harry Arora
arora-h/sent/4.
subject: Re: TSS Presentation content: How does 3 pm look ? Leonardo Pacheco@ENRON 02/06/2001 10:25 AM To: Harry Arora/HOU/ECT@ECT cc: Subject: Re: TSS Presentation I am open after 2:00 Pm. Let me know when I can come by your office. Thanks! Leonardo Harry Arora@ECT 02/05/2001 06:34 PM To: Leonardo Pacheco/Corp/Enron@ENRON cc: Subject: Re: TSS Presentation Leonardo Lets do one more iteration some time tomorrow. These are looking pretty goood. Harry
arora-h/sent/5.
subject: Re: The Body Shop quick question content: Jocelyn New Power Company and Azurix are other affiliate companies of Enron. EDS is a totally different company, to which we have outsourced some stuff - so they have a number of employees on our premises ( on EDS contract). I personally do not work out at the bodyshop. So would be unable to help you on how it might be in the morning. I am sure you can call the BodyShop and they can help you out. If you have questions, our HR co-ordinator (Lauren or Ben) should be able to provide further assistance. Harry From: Jocelyn Gordon/ENRON@enronXgate on 02/06/2001 02:10 PM To: Harry Arora/HOU/ECT@ECT cc: Subject: The Body Shop quick question Harry, Just a quick question for you, please. I read the guidelines and included them below regarding the Body Shop. At the beginning of the page, it includes the category of employees to include some that I am not familiar with. Of course, I do see the area for contractors, however, I was curious what these classifications are. Can you please let me know what these are? New Power Company/Azurix/EDS Employees I just want to be sure on the correct fees prior to making a commitment to join with them. Also, have you ever been to the Body Shop in the morning? Do you know if it is super crowded or not? I can't imagine too many people arriving at 5:30am. Thanks ahead for your input. I appreciate it. Jocelyn Gordon DealBench 713-345-3826 (P) 713-346-8576 (F) The Body Shop www.hrweb.enron.com/wellness The Enron Fitness Center is a member only workout facility for use by Enron employees, their spouses & dependents (18-23 and living at home); retirees; and long-term contractors on a minimum 3-month assignment. Membership Fees Enron/ /New Power Company/Azurix/EDS Employees $25/month Locker/Laundry Fee $10/month Spouse/Dependents (18-23 yrs. and living at home) $15/month Retirees $36.50/month Contractors $38/month
arora-h/sent/6.
subject: Re: Meeting on RSL Capacity Auctions content: That sounds good. Harry From: Saji John@ENRON COMMUNICATIONS on 02/07/2001 10:39 AM To: Harry Arora/HOU/ECT@ECT cc: Subject: Meeting on RSL Capacity Auctions Harry, How about meeting today between 2:00PM and 3:00PM. Thanks Saji John
arora-h/sent/7.
subject: Re: Meeting on RSL Capacity Auctions content: EB2762 ! From: Saji John@ENRON COMMUNICATIONS on 02/07/2001 11:08 AM To: Harry Arora/HOU/ECT@ECT@ENRON cc: Steve Crumley/Enron Communications@Enron Communications Subject: Re: Meeting on RSL Capacity Auctions Harry, We do not have any conference room available between 2:00 and 3:00PM. Can we meet at your office during that time ? Thanks Saji John Harry Arora@ECT 02/07/01 10:50 AM To: Saji John/Enron Communications@ENRON COMMUNICATIONS@ENRON cc: Subject: Re: Meeting on RSL Capacity Auctions That sounds good. Harry From: Saji John@ENRON COMMUNICATIONS on 02/07/2001 10:39 AM To: Harry Arora/HOU/ECT@ECT cc: Subject: Meeting on RSL Capacity Auctions Harry, How about meeting today between 2:00PM and 3:00PM. Thanks Saji John
arora-h/sent/8.
subject: Re: Enron Flat Panel Procurement content: Cool ! From: Jeff Bartlett 02/07/2001 03:16 PM To: Martin Bucknell/Enron@EnronXGate cc: (bcc: Harry Arora/HOU/ECT) Subject: Enron Flat Panel Procurement Just left you a voicemail, but thought I would follow up with an email summarizing my conversation earlier today with Philippe. Apparently for the new building, Enron will be purchasing 2000+ flat panels (I assume mostly PC monitors with potentially some Plasma TVs). Philippe would like to arrange 3 or 4 bidders to compete in a live, online DealBench auction. He mentioned that you would be in charge of contacting Compaq, NEC and the other suppliers of these displays and would be the primary Enron person involved in this procurement (I'm estimating it at a $2 to $4 million contract). I wanted to offer to have one of our Marketing professionals spend some time with you to walk through a sample auction to make sure you are comfortable with our platform and that we can meet all your live auctioning needs. Please give me a call at 3-5629 when you have a minute to discuss. If you want to arrange a demo, please contact Vanessa Carranza (3-5030). thanks, Jeff Jeffrey M. Bartlett Director, Enron Net Works 713-853-5629 [email protected]
arora-h/sent/9.
subject: Business Plan content: Rob Find enclosed the business plan and the valuation model for DealBench. Feel free to call me with questions. Harry Arora
arora-h/vanderbilt/1.
subject: Maksym Yegorychev, interview at Owen content: Dear Harry, It was really nice talking to you this week. I hope I could provide you with information sufficient for making the right decision. From my side, I once again want to highlight the fact that if I am given a chance, I will do all I can to prove that the people who gave me this chance made the right decision. With best regards, Maksym Yegorychev MBA 2002 OGSM.
arora-h/vanderbilt/14.
subject: Summer Interns content: Here is my summary of our second round summer interviews. Top 3 candidates below. 1. Craig - Well rounded, Military background, excellent leadership experience (aircraft carrier pilot), did not have a finance background, but performed very well on Harry's analytical interview. Very personable, confident and sold himself well. I think he is very interested in Enron and would likely accept. 2. Victor - He was a strong candidate in my more subjective interview, but I didn't think he was quite as strong as Ajay. However he outperformed Ajay in the analytical interview. With that feedback from Harry I feel comfortable placing Victor ahead of Ajay. Also very interested in Enron. 3. Ajay - Very polished, presented/sold himself very well, Excellent understanding of Enron's business (did his homework), Relative to others based on my interview he ranked in the top 2, However did not perform as well as others in the top 4-5 in the analytical interview. For this reason I'd push him back to number three. Aside from these three there were two others that are worth discussing. Casey Jones Andrew Rosenberg We Understand these two may have outstanding offers from firms that they are very interested in. I would not consider either of these two ahead of Craig, but might place Casey ahead of Victor. However I think Casey is least likely to accept the offer. My suggestion would be to make offers to Craig & Victor, then consider a 3rd offer to Andrew, recognizing we would likely get a maximum of 2/3. Lee Jackson
arora-h/vanderbilt/2.
subject: Summer Associate Program at Enron content: Dear Mr. Arora: I would like to take this opportunity to thank you for taking the time and effort to come to Owen and interview me for the Summer Associate Program at Enron. I am excited about the prospect of developing newer markets and e-markets for trading various financial instruments and wish to be a part of the Enron team in the development of these new markets. I firmly believe that my past experience in the commodities trading area and my finance and e-commerce concentration at Owen would enable me to make a significant contribution in developing newer markets and e-markets for various commodities & products and would greatly appreciate an opportunity to be a part of the Enron team. Many Thanks once again for interviewing me for the summer associate program at Enron. Sincerely, Muthu (Max) _____________________________________________ Muthukumar Krishnan MBA 2002 Owen Graduate School of Management Vanderbilt University (615)-329-8922 (Home) (615)-498-6533 (Mobile) [email protected] _____________________________________________
arora-h/vanderbilt/3.
subject: a very current question content: Harry, I enjoyed our interview today and hope to continue discussions with Enron about a summer internship. I couldn't resist sending you this link. I don't know if you recall, but during our talk we conducted an exercise attempting to determine new uses for tissue. I was surprised to learn that Kimberly-Clark has just announced a new product. They actually were holding a analyst conference call this morning to discuss earnings and their new venture. Your questions are certainly very current! I wish I had been creative enough to think of this product during our interview. Here is the link. http://www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=118088&TICK=KMB&STOR Y=/www/story/01-16-2001/0001404319&EDATE=Jan+16,+2001 <http://www.prnewswire.com/cgi-bin/micro_stories.pl?ACCT=118088&TICK=KMB&STO RY=/www/story/01-16-2001/0001404319&EDATE=Jan+16,+2001> Again, thank you for taking the time to interview me. I am excited about the opportunities at Enron and look forward to continuing our discussions in the next few weeks. Sincerely, Vic Vic Gatto Owen Graduate School of Management Vanderbilt Universtiy (615) 292-7414 [email protected]
arora-h/vanderbilt/4.
subject: Thank You content: Dear Mr. Arora: I wanted to thank you for taking the time to interview me this past Wednesday. I enjoyed meeting you and other representatives of the company and left our interview with a much greater understanding of what drives Enron and what the company seeks in its applicants. Your responses to my questions only confirmed my already high opinion of the company. As you know, I am a first year student at Owen concentrating in Finance and Electronic Commerce. I graduated Summa Cum Laude from Bentley College in May of 1997 with a Bachelor of Science degree in Economics & Finance, and I received an Honors Certificate in Economics from the University of Cambridge in August of 1995. After graduating from Bentley, I worked for Digital Equipment Corporation as an analyst in its Financial Development Program. Most recently, I worked as an investments analyst for Thomson Financial, where I evaluated three major business development initiatives and five acquisition proposals totaling $44 million and worked with senior management on a takeover bid for one of Thomson's key competitors. I also performed strategic, market, and competitor analysis, and proposed ways of improving the organization's overall competitiveness. My professional experiences working in the High Technology and Financial Information Services industries have led to a complete redefinition of my career goals. I much prefer to be on the front lines of business, helping some of the world's most established organizations make decisions that will impact their financial future and competitive position in the market. I am anxious to begin my career with Enron and believe that a relationship with company would prove mutually beneficial. In closing, I would like to thank you again for interviewing me in Nashville. If you have any questions, please contact via e-mail at [email protected] or at (615) 673-0329. Have a wonderful week! Best Regards, Ajay S. Jagsi
arora-h/vanderbilt/5.
subject: Summer Interns content: Here is my summary of our second round summer interviews. Top 3 candidates below. 1. Craig - Well rounded, Military background, excellent leadership experience (aircraft carrier pilot), did not have a finance background, but performed very well on Harry's analytical interview. Very personable, confident and sold himself well. I think he is very interested in Enron and would likely accept. 2. Victor - He was a strong candidate in my more subjective interview, but I didn't think he was quite as strong as Ajay. However he outperformed Ajay in the analytical interview. With that feedback from Harry I feel comfortable placing Victor ahead of Ajay. Also very interested in Enron. 3. Ajay - Very polished, presented/sold himself very well, Excellent understanding of Enron's business (did his homework), Relative to others based on my interview he ranked in the top 2, However did not perform as well as others in the top 4-5 in the analytical interview. For this reason I'd push him back to number three. Aside from these three there were two others that are worth discussing. Casey Jones Andrew Rosenberg We Understand these two may have outstanding offers from firms that they are very interested in. I would not consider either of these two ahead of Craig, but might place Casey ahead of Victor. However I think Casey is least likely to accept the offer. My suggestion would be to make offers to Craig & Victor, then consider a 3rd offer to Andrew, recognizing we would likely get a maximum of 2/3. Lee Jackson
arora-h/vanderbilt/6.
subject: Summer Associate Program at Enron content: Dear Mr. Arora: Hope this mail finds you in the best of health and cheer. I am sorry to know that I have not been selected for the Enron Summer Associate Program and would greatly appreciate any feedback that you can offer me with regards to interview that I had with Enron. I am extremely interested in working at Enron and firmly believe that my prior experience in the commodities trading arena and the skills that I gain in my MBA program will enable me to add significant value to Enron. I plan to apply for the full time program at Enron and would like to use the feedback to prepare myself for the full time associate program at Enron. Many Thanks once again for taking the time and effort to interview me at Owen and also for considering me for the Enron Summer Associate Program. Sincerely, Max _____________________________________________ Muthukumar Krishnan MBA 2002 Owen Graduate School of Management Vanderbilt University (615)-329-8922 (Home) (615)-498-6533 (Cell) [email protected] _____________________________________________
arora-h/vanderbilt/7.
subject: Asking for the feedback content: Dear Mr. Arora: Once again, thank you for the great opportunity to demonstrate and prove my credentials, interest and desire to work for Enron this summer during the second round of on-campus interview at the Owen Graduate School of Management at Vanderbilt University on January 24th. Although I have not been selected for the Summer Associate position at Enron, I would like to assure you that I am still interested in a full-time position at Enron upon my graduation. Meanwhile, I would greatly appreciate if you provide me with any feedback on my performance during the interview. I am especially interested in your opinion regarding the areas I need to improve. Again, thank you for your time and consideration. Sincerely, Dmitri Villevald Owen MBA 2002
arora-h/vanderbilt/8.
subject: time to talk content: Dear Harry, I would like to talk to you about the decision Enron made regarding summer internship and how I could improve my chances next time. Could you advise me on the time to call you? BR, Maksym Yegorychev.
arora-h/vanderbilt/9.
subject: Thank You content: Harry, Thank you for taking time last week to meet with me and for arranging the other meetings as well. I enjoyed our discussion and learning about the various opportunities within Enron. I have been impressed with every group at Enron. I hope that we can keep in touch over the next few months. Thank you again. Sincerely, Vic Vic Gatto Owen Graduate School of Management Vanderbilt Universtiy (615) 292-7414 [email protected]
badeer-r/_sent_mail/1.
subject: Out of Ofice content: I will be out of the office on Friday, Monday and Tuesday for vacation. I will be able to be reached by cell phone if necessary. Bob
badeer-r/_sent_mail/10.
subject: Re: Updating records... content: Her last name is Smock
badeer-r/_sent_mail/11.
subject: information from iso content: Jeff, Tim told me to put together a list of inormation we would want from the ISO. As a general rule, we want all information released. Here are some of the highlights: 1. ETC schedules on each transmission line (both DA and HA). We want to see the ETC schedules at the same time they are submitted to the ISO on the following paths: a. path 15 b. path 26 c. nw1 d. nw3 e. az2 f. az3 g. lc1 2. Actual flows on each path. (real time flows) 3. How many mw's get cut on each path DA? i.e. how many mw's are adjustment bid out of the stack 4. Intrazonal Cong a. What paths have intra-zonal cong b. How many mw's flow, how many get cut on a DA/HA basis 5. BEEP stack 6. All load and generation bids DA by SC 7. Real time production from each plant
badeer-r/_sent_mail/12.
subject: MARKET NOTICE---EMERGENCY OPERATING ORDER RELATING TO UNINSTRUCTE D content: ---------------------- Forwarded by Robert Badeer/HOU/ECT on 07/31/2000 05:47 AM --------------------------- Enron Capital & Trade Resources Corp. From: CAISO Market Operations - Hour Ahead <IMCEAEX-_O=CAISO_OU=CORPORATE_CN=SYSTEM_CN=MARKETOPSHOURAHEAD@caiso.com> 07/31/2000 04:24 AM To: "Market Status: Hour-Ahead/Real-Time" <IMCEAEX-_O=CAISO_OU=CORPORATE_CN=DISTRIBUTION+20LISTS_CN=MKTSTATHOURAHEAD@cai so.com>, Market Status <[email protected]> cc: Subject: MARKET NOTICE---EMERGENCY OPERATING ORDER RELATING TO UNINSTRUCTE D DEVIATIONS JULY 31, 2000 MARKET NOTICE---EMERGENCY OPERATING ORDER RELATING TO UNINSTRUCTED DEVIATIONS JULY 31, 2000 This notice is to advise all Scheduling Coordinators and owners of Generation in the ISO Control Area that the ISO is issuing an operating order for July 31, 2000, that all resources must follow final Hour Ahead Schedules, as adjusted by RMR Dispatch Notices, or by Dispatch instructions verbal or electronic, on Ancillary Service or Supplemental Energy bids. NO UNINSTRUCTED DEVIATIONS WILL BE ALLOWED. Section 2.3.1.2.1 of the ISO Tariff requires Market Participants in the ISO Control Area to "comply fully and promptly with the ISO's operating orders." Any Generating Unit with real time output that reflects an excessive deviation from the real time output consistent with its Final Hour Ahead Schedule as adjusted by Dispatch instructions, and assuming a 20 minute ramp across the top of the hour for hourly Schedule changes, will be deemed to have failed to comply with this operating order. For the purpose of this determination, an excessive deviation shall be the smaller of 10% of a Generating Unit's maximum capability, or 10 MW. The only exception to this finding is a Generating Unit that provides the ISO with timely notification of a unit outage or derate. Failure to comply with this operating order threatens the reliable operation of the ISO Control Area. In particular, uninstructed incremental deviations by Generating Units that are "chasing" the BEEP Interval Prices published by the ISO are directly responsible for the frequency excursions the ISO experienced June 13, 2000. The ISO will take the following actions with respect to those Generating Units that fail to comply with this Operating Order: 1) ISO Management will deliver a report to the ISO Governing Board that provides a copy of this notice, and a comparison of the instructed and actual output profile for each Generating Unit that fails to comply. 2) The ISO will assign any WSCC RMS penalties associated with frequency deviations to the Generating Units that fail to comply.
badeer-r/_sent_mail/13.
subject: Re: content: what is your fax number?
badeer-r/_sent_mail/14.
subject: Block Forward Financial Deals content: Sir, For the month of August, 2000, we will take 50% of our open Block Forward position financial instead of physical. We would like to make this change because we think the elimination of physical risk will benefit us commercially. Thus for bona fide commercial reasons, we will go financial with 50% of our open Block Forward position. Bob Badeer Manager West Power Trading Enron North America
badeer-r/_sent_mail/15.
subject: RE: excel problem, high priority content: Mike, The help desk took care of the problem by restoring the file. Thanks anyway. Bob
badeer-r/_sent_mail/16.
subject: Re: content: Fran, Your child like attempts to use the English language at anything above the third grade level is indeed laughable. Not only do you babble, you're spelling is atrocious. Hope your trip is going well. Bob
badeer-r/_sent_mail/17.
subject: excel problem, high priority content: I somehow created two of the same files that are linked, and I cannot unlink them. The files are xxx4:1 and xxx4:2. I have tried closing the iles and closing excel, but when I re-open xxx4, both the files are re-opened. This is a very important file, so I need help as soon as possible. Thank you. Bob Badeer 503 464 3926
badeer-r/_sent_mail/18.
subject: excel problem, high priority content: I somehow created 2 of the same file that it linked together. The 2 new files are xxx4:1 and xxx4:2. I dont know how I created this, but I have tried closing the file, exiting excel, but when I re-open the file, both of them open. This is a very important file so I need help as soon as possible. Thank you. Bob Badeer 503 464 3926
enronast@microsoft
badeer-r/_sent_mail/19.
subject: Re: content: Fran, I was with 1st FSSG, 7th Eng. Bn. You can expect to be doged out since you're such a sorry, simple bastard. I'll call you when you get back to the states. My numbers are (w) 503-464-3926 (h) 503 233-6839. Take it easy. Bob
badeer-r/_sent_mail/2.
subject: Re: Wharton Recruiting content: Suzanne, I'm a '97 graduate and interested in recruiting this year. However, I'm out in Portland, so I will be unable to attenfd any meetings in Houston. Let me know how I can help. I would like to go out there when you go. Let me know what our schedule is. Thanks. Bob Badeer 503 464 3926
badeer-r/_sent_mail/20.
subject: content: Fran, What is your phone number? Bob
badeer-r/_sent_mail/21.
subject: Re: Cal PX Files for Rehearing on CPUC Decision-alternate exchanges content: Mona, What is your phone #? Bob Badeer