text
stringlengths 1
1.7M
| meta
dict |
|---|---|
print
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/04/2000
08:44 AM ---------------------------
Brad Hitch@ENRON_DEVELOPMENT on 10/04/2000 12:51:01 AM
To: Jeffrey A Shankman@ECT
cc:
Subject: NWS Cargoes
Jeff,
I reserved a place on your calendar tomorrow to go over the Northwest Shelf
bid proposal. Attached is a brief powerpoint file describing my view on how
we should think about this transaction. I'll bring along a copy in case you
don't get a chance to look at it.
Thanks,
Brad
|
{
"pile_set_name": "Enron Emails"
}
|
That will be fine. SS
Taffy Milligan
04/13/2000 11:28 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: Sr. Legal Specialist Candidate - Patricia Slaughter
Sara,
I just found out that Mark will be here next week, so I will need to included
him in the interview schedule. Since you are familiar with Patricia would
you mind doubling-up with Carol? If that is ok with you, I will schedule
Mark for the 3:45 pm slot.
tm
----------------- Forwarded by Taffy Milligan/HOU/ECT on 04/13/2000 11:22 AM
---------------------------
Taffy Milligan
04/12/2000 02:05 PM
To: Susan Bailey/HOU/ECT@ECT, Susan Flynn/HOU/ECT@ECT, Marie
Heard/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Sara Shackleton/HOU/ECT@ECT, Carol
St Clair/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT
cc: Suzanne Adams/HOU/ECT@ECT, Erica Braden/HOU/ECT@ECT, Kaye
Ellis/HOU/ECT@ECT, Taffy Milligan/HOU/ECT@ECT, Becky Tlucek/HOU/ECT@ECT
Subject: Sr. Legal Specialist Candidate - Patricia Slaughter
It appears that the following interview schedule may work. Please advise
ASAP if you have a conflict.
Wed, April 19, 2000 in EB38c1.
2:30 p.m. Sr. Legal Specialists (S. Bailey, S. Flynn, T. Jones)
3:15 p.m. Carol St. Clair
3:45 p.m. Sara Shackleton
tm
P.S. Tana & Susan B., I updated your calendars.
|
{
"pile_set_name": "Enron Emails"
}
|
who is better for the avs to play? what has been going on in denver?
|
{
"pile_set_name": "Enron Emails"
}
|
I have entered the following names into the Performance Review System as
suggested reviewers:
Commercial Customers
Jeff Shankman
Jim Fallon
Gary Hickerson
Direct Reports
Brent Price (Business Controller -Natural Gas)
Kristin Albrecht (Business Controller - Power)
Todd Hall (Business Controller - Merchant Portfolio)
Others
Rick Causey
Ted Murphy
Fernley Dyson (London)
|
{
"pile_set_name": "Enron Emails"
}
|
I have approved the attached expense report for Rosalee Fleming.
|
{
"pile_set_name": "Enron Emails"
}
|
We just wanted to take a moment to let all of you know your options for holding money in money market or a vehicle similar to that and the different yields associated with different products.
Please see the attached spreadsheet and feel free to call either Pat Dowd at (713) 853-2403 or me at (713) 853-2386 with any questions. For your convenience, we will update this each week and send it to you via email on Mondays/Tuesdays
Sincerely,
Julie Haviland
Senior Registered Account Adminstrator
Emery Financial Group of
First Union Securities
|
{
"pile_set_name": "Enron Emails"
}
|
No. 83
Monday April 30, 2001 Page A-10
ISSN 1523-567X
Regulation, Law & Economics
PrivacyNew CFTC Rules Set Regime for Disclosing
Privacy Rules to Clients of Financial Entities
The Commodity Futures Trading Commission April 27 released new rules
establishing guidelines as to how futures commission merchants, commodity
trading advisors, and other similar financial institutions must inform
customers of their privacy rights.
The new rules, which are scheduled to go into effect June 21, will require
FCMs and CTAs, as well as commodity pool operators and introducing brokers,
to establish written guidelines informing their clients as to what type of
information can be disclosed to various third-parties, the CFTC said in a
Federal Register notice. The rules also provide that such an entity inform
its clients how to opt out of such data sharing.
Continuing Relationship
The entities will now be expected to provide the privacy guidelines at a time
"not later than the time it establishes a customer relationship" with the
client, and at least once a year thereafter.
The CFTC said it defines the beginning of such a period to be when the
institution and customer "enter into a continuing relationship," most likely
the time when the two enter into a contract. For customers in which no such
relationship has been established, the institution must provide notice of its
privacy policies before it releases personal information to a nonaffiliated
third party, the CFTC said.
In the notices, the institutions must inform customers about the category of
information it may collect as well as what it may disclose, the CFTC said. A
firm, for example, must tell clients that it can collect information
contained in their applications, credit reports, and transaction reports.
The firm must also state that it may disclose data pertaining to assets,
income and investment goals, personal-identifying information (name, address,
and Social Security number), account activity and balances, and credit
histories.
To minimize crossover, the CFTC said it would allow firms that are also
registered with the Securities and Exchange Commission or with a state
securities regulator to abide by either the SEC or Federal Trade Commission's
privacy rules
No Safe Harbor
The commission initially was not obliged to set out such rules, which became
mandatory for other agencies as part of the Gramm-Leach-Bliley Act of 1999.
Congress put the CFTC under the same rules in December, however, as part of
the Commodity Futures Modernization Act of 2000.
The commission said it decided not to exempt or create a safe harbor for
unregistered CTAs and CPOs, despite some lobbying from industry. The CFTC did
agree not to hold foreign unregistered entities to the rules, saying it would
be "impracticable" to do so.
Copyright , 2001 by The Bureau of National Affairs, Inc., Washington D.C.
|
{
"pile_set_name": "Enron Emails"
}
|
WHEN: March 12 9 am - 5 pm
CALL IN: 888-380-9636
HOST: 870115
PART: 787202
Iris - 713-853-9012
|
{
"pile_set_name": "Enron Emails"
}
|
This e-mail is being sent on behalf of George Frazier, President -
South-Central Chapter, Energy Bar Association - 11-13-00
<<LK_231100_1.DOC>>
- LK_231100_1.DOC
|
{
"pile_set_name": "Enron Emails"
}
|
Sempra needs to get a copy of the court order authorizing ENA to enter into GISB's and transactions. Does such a thing exist that we can send to Sempra?
Thanks
-----Original Message-----
From: Germany, Chris
Sent: Wednesday, March 13, 2002 7:48 AM
To: 'Michael McCall <[email protected]>@ENRON'
Cc: Andrew Giglia; Marcia Greenblatt
Subject: RE: Sempra Energy Trading GISB
At this point, just send everything to me and I'll work with our legal department.
-----Original Message-----
From: Michael McCall <[email protected]>@ENRON
Sent: Wednesday, March 13, 2002 7:44 AM
To: Germany, Chris
Cc: Andrew Giglia; Marcia Greenblatt
Subject: RE: Sempra Energy Trading GISB
Chris:
There are some issues with the attached form - who do I send revisions to?
In addition, our legal department needs to get a copy of the court order
authorizing ENA to enter into GISBs and transactions - who do contact
regarding this issue?
Regards - Michael McCall
-----Original Message-----
From: Germany, Chris [mailto:[email protected]]
Sent: Tuesday, March 12, 2002 11:39 AM
To: [email protected]
Cc: Draper, David
Subject: FW: Sempra Energy Trading GISB
These days, its easier for our legal department to draft or approve a new
GISB than to find any of the existing documents. The attached document is
for Enron North America Corp. David is going to see if they can use it.
If your legal department approves, please print 2 originals, fill in the
Sempra information, sign it, and send it to me.
Thanks
Chris L. Germany
Manager, Gas Trading
Phone 713-853-4743
Fax 713-646-3059
Address: Attn: Chris Germany ECS 04444
1400 Smith St
Houston, TX 77002
> -----Original Message-----
> From: Dickson, Stacy E.
> Sent: Monday, March 11, 2002 4:33 PM
> To: Germany, Chris
> Cc: Mann, Kay
> Subject: Sempra Energy Trading GISB
>
> Chris,
> Attached is a draft of a GISB with Sempra. Please call me if you have any
questions.
>
> Stacy
>
> > <<SEMPRAGISB.doc>>
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at [email protected] and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************
**********************************************************************
This e-mail contains privileged attorney-client communications and/or confidential information, and is only for the use by the intended recipient. Receipt by an unintended recipient does not constitute a waiver of any applicable privilege."
Reading, disclosure, discussion, dissemination, distribution or copying of this information by anyone other than the intended recipient or his or her employees or agents is strictly prohibited. If you have received this communication in error, please immediately notify us and delete the original material from your computer."
Sempra Energy Trading Corp. (SET) is not the same company as SDG&E or SoCalGas, the utilities owned by SET's parent company. SET is not regulated by the California Public Utilities Commission and you do not have to buy SET's products and services to continue to receive quality regulated service from the utilities."
**********************************************************************
|
{
"pile_set_name": "Enron Emails"
}
|
Disregard my other reply - I don't know what I was thinking. Prebon was right
on this. Both deals were 50 MW (not 25 MW like I said earlier!), and they
were changed accordingly.
Sorry about the confusion.
Kate
Evelyn Metoyer@ENRON
11/15/2000 01:29 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Discrepancies -
Traded 11-13-00 Chris mallory
deal 457482 and 457481
Prebon shows 50 mw and we show 25 mw on each deal.
Can you check with Chris Mallory because when I checked out with Prebon we
confirmed the megawatts as 25mw on these deals.
Thanks
|
{
"pile_set_name": "Enron Emails"
}
|
Mark
Although the Xcelerator has been moved to Corp, Jim Derrick asked that I continue to receive legal support from your group. I and people in my group have worked some with Teresa Bushman and Angela Davis in Lance Schuler's group. Would you like me to consider Lance or someone in his group as my legal "point person", or is there someone else you'd prefer?
Thanks
Heath
Heath Schiesser
713-345-4585
[email protected]
|
{
"pile_set_name": "Enron Emails"
}
|
NOTE: YOU WILL RECEIVE THIS MESSAGE EACH TIME YOU ARE SELECTED AS A REVIEWER.
You have been selected to participate in the Year End 2000 Performance
Management process by providing meaningful feedback on specific employee(s).
Your feedback plays an important role in the process, and your participation
is critical to the success of Enron's Performance Management goals.
To complete requests for feedback, access PEP at http://pep.corp.enron.com
and select Perform Review under Performance Review Services. You may begin
providing feedback immediately and are requested to have all feedback forms
completed by Friday, November 17, 2000.
If you have any questions regarding PEP or your responsibility in the
process, please contact the PEP Help Desk at:
Houston: 1.713.853.4777, Option 4
London: 44.207.783.4040, Option 4
Email: [email protected]
Thank you for your participation in this important process.
The following is a CUMULATIVE list of employee feedback requests with a
status of "OPEN." Once you have submitted or declined an employee's request
for feedback, their name will no longer appear on this list.
Review Group: ENRON
Feedback Due Date: Nov 17, 2000
Employee Name Supervisor Name Date Selected
------------- --------------- -------------
BOLTON, SCOTT RICHARD S SHAPIRO Nov 06, 2000
CONDON, CHARLES D MARTIN J WENZEL Nov 03, 2000
FAWCETT, JEFFERY C JESS K HYATT Nov 01, 2000
HAMILTON, TIMOTHY J JAMES W LEWIS Oct 25, 2000
KAUFMAN, PAUL J RICHARD S SHAPIRO Oct 31, 2000
MANDELKER, JEANNIE KAREN L DENNE Nov 06, 2000
MCLAUGHLIN, TRACY SCOTT BOLTON Oct 25, 2000
NORD, BONNIE S RICHARD S SHAPIRO Nov 03, 2000
O'CONNELL, EARLENE ELIZABETH C LINNELL Nov 01, 2000
|
{
"pile_set_name": "Enron Emails"
}
|
There are a few other issues we need to look into:
Larcamp told Hartsoe and I after the meeting that FERC may clarify that the
price caps and reporting obligations apply only to bids into the PX and ISO
-- ie no bilateral transaction will be subject to the requirements. He asked
if knowing this would change any of our views (esp peaking plants, though I
suspect it's already too late for that). My gut reaction is that so long as
the market continues to clear through the centralized exchanges this
"exemption" for bilateral transactions won't matter much, but let's think it
through. Is EOL or APX an alternative?
Massey specifically asked us to address forward markets in our comments.
Specifically, "has FERC done everything it can to encourage forward market
development?" In addition to any other points we might make, I think we
should argue that "PJMing" the market won't facilitate and may even hinder
forward market development. Also, we should advocate actions by FERC that
take away second-guessing by the CPUC in order to reduce utility fears about
contracting forward.
We have to give the Commission a way out on price caps. We need to think
through whether there is something we can live with here, or we should take
the approach I took in my testimony: FERC should encourage the state to
provide rate protection for selected customer classes by putting those
requirements up for bid (ie get the utility out of the commodity business as
much as possible).
Finally, on governence issues we should argue for a narrowe role for the ISO
as a way of diffusing the emotional governence debate. Analogy: if the ISO
is simply the air traffic controller all parties will simply be interested in
retaining the most technically competent people (not hiring or appointing
their lackies or friends). So long as the ISO has a role in setting prices,
acquiring supplies or running the market, it is destined to be controversial
and highly politicized. Those functions should be left to the market.
Mary Hain@ECT
11/10/2000 11:13 AM
To: Steven J Kean/NA/Enron@Enron, Harry Kingerski/NA/Enron@Enron
cc:
Subject: Comments on FERC November 1 order
---------------------- Forwarded by Mary Hain/HOU/ECT on 11/10/2000 09:20 AM
---------------------------
________________________
To: Christian Yoder/HOU/ECT@ECT, [email protected], Richard Sanders,
Susan J Mara/SFO/EES@EES, Mona L Petrochko/NA/Enron@Enron,
[email protected], Paul Kaufman/PDX/ECT@ECT, James D
Steffes/NA/Enron@Enron, Joe Hartsoe@Enron, Sarah Novosel/Corp/Enron@ENRON,
James E Keller/HOU/EES@EES, Mike D Smith/HOU/EES@EES, Harry
Kingerski/HOU/EES@EES, Dennis Benevides, Tim Belden/HOU/ECT@ECT, Robert
Badeer/HOU/ECT@ECT, Jeff Richter/HOU/ECT@ECT, Alan Comnes/PDX/ECT@ECT, Steve
Kean, Richard Shapiro, Tim Heizenrader/PDX/ECT@ECT
cc: [email protected], [email protected]
From: Mary Hain/HOU/ECT
Date: 11/09/2000 05:19:03 PM
Subject: Comments on FERC November 1 order
For purposes of our discussions, Alan and I have put together an outline of
issues raised in the FERC meeting today that we might consider putting in our
comments to FERC. Our written comments would also include the issues we have
already raised in our white paper and our oral comments at FERC. Of course
to the extent we have discussed things in our white paper we could simply
cite the paper. Given the potentially long list of issues to be addressed, I
haved left a voice mail asking Seabron if he is available to help Alan.
|
{
"pile_set_name": "Enron Emails"
}
|
Yes, we should take a look at it. I spoke to Blair about it this morning but we probably need to get a more in-depth analysis. Lorraine is SoCal's rep so she should probably be the one to review it as well as Kim Watson and myself. Thanks.
-----Original Message-----
From: Hass, Glen
Sent: Wednesday, October 03, 2001 9:14 AM
To: '"Dan Douglass" <[email protected]>@ENRON'; Harris, Steven; Pryor, Tony; Fossum, Drew; Miller, Mary Kay; Kilmer III, Robert; Lokey, Teb; Lichtenwalter, Blair
Subject: RE: SoCalGas Developments
I had also received the filing and likewise Susan (Scott) Lindberg had received one. Susan's copy has been forwarded to Blair/Teb for regulatory review as well as being available in Houston for Marketing to review. It's a bound document about 2 inches thick including the testimony. Importantly it includes SoCal's proposal for receipt point capacity. I've only read the transmittal letter thus far but will continue reviewing it for more detail.
Steve, would you want to designate someone from Marketing to review key sections? I would offer to let them know which areas or sections of the filing could use input from Marketing before we decide whether or not to comment on SoCal's proposal or to simply intervene at this time, monitor progress and provide input later in the proceeding if necessary.
Other comments? gh
-----Original Message-----
From: "Dan Douglass" <[email protected]>@ENRON [mailto:IMCEANOTES-+22Dan+20Douglass+22+20+3Cdouglass+40energyattorney+2Ecom+3E+40ENRON@ENRON.com]
Sent: Tuesday, October 02, 2001 4:57 PM
To: Harris, Steven; Pryor, Tony; Hass, Glen; Fossum, Drew
Subject: Re: SoCalGas Developments
Steve,
Will do. Will review filing and get back to you with any implications for
TW.
Dan
Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd. Suite 244
Woodland Hills, CA 91367
Tel: (818) 596-2201
Fax: (818) 346-6502
[email protected]
----- Original Message -----
From: "Harris, Steven" <[email protected]>
To: "Pryor, Tony" <[email protected]>; "Hass, Glen"
<[email protected]>; "Fossum, Drew" <[email protected]>
Cc: <[email protected]>
Sent: Tuesday, October 02, 2001 12:02 PM
Subject: RE: SoCalGas Developments
> At a minimum, we need to intervene as an interested party.
>
> > -----Original Message-----
> > From: Pryor, Tony
> > Sent: Tuesday, October 02, 2001 2:00 PM
> > To: Harris, Steven; Hass, Glen; Fossum, Drew
> > Cc: '[email protected]'
> > Subject: FW: SoCalGas Developments
> >
> > Steve and Glen, I'm passing this on to you. I will be in Calgary
> > after today for the rest of the week. Drew, I talked to Glen and if
> > he and Steve think an immediate intervention is needed before Monday,
> > Glen will check with you and get approval to work directly with
> > Dan..................Tony
> >
> > -----Original Message-----
> > From: "Dan Douglass" <[email protected]>@ENRON
> > [mailto:IMCEANOTES-+22Dan+20Douglass+22+20+3Cdouglass+40energyattorney
> > [email protected]]
> > Sent: Tuesday, October 02, 2001 12:51 PM
> > To: Pryor, Tony
> > Subject: SoCalGas Developments
> >
> >
> > Tony, SoCalGas sent out last week a copy of its new Biennial Cost
> > Allocation Proceeding ("BCAP") application. The nominal purpose of
> > the filing is to revise rates for gas service effective 1/1/03 and to
> > revise rates to reflect an updated allocation among customers of
> > non-commodity costs of service. The utility also requests authority
> > to revise and simplify various tariffs and to "implement several new
> > programs which will enhance the efficient use and operation of its
> > gas transportation system."
> >
> > I am calling this to your attention because I recommend that
> > Transwestern monitor this proceeding, review the application and
> > determine how active (if at all) it may wish to be in this
> > proceeding. The utility will be forecasting both gas demand and gas
> > prices during 2003-2004, presenting two cost allocation studies and
> > two rate proposals. They will also be proposing that the Commission
> > switch from long run marginal cost to embedded cost principles for
> > allocating costs of service among its customers. The also propose a
> > $187 million or 12.5% rate increase annually, compared to present
> > rates.
> >
> > The utility discusses in detail the issues of interstate pipeline
> > capacity and storage reservation for the core and the projected
> > annual cost of the core interstate pipeline capacity reservation.
> > Their capacity issues witness advocates continued core responsibility
> > for its portion of the ITCS. He also makes proposals designed to
> > enhance customer access to SoCalGas transmission and storage assets,
> > some of which were surfaced initially in the context of the Natural
> > Gas Strategy proceeding. He proposes firm intrastate receipt points,
> > an open season to solicit interest in an expansion of the backbone
> > system, a new in-kind fuel charge for transmission and an expansion
> > of the unbundled storage program to include gas loaning services.
> > finally, they also propose incremental expansions of both
> > transmissionand storage capacity.
> >
> > Tony, it seems to me that Transwestern should monitor this proceeding,
> > review the application thoroughly (including a supplement that
> > SoCalGas says it will be filing soon) and make a decision as to
> > whether the proposed changes will affect the SoCalGas-Transwestern
> > relationship and/or the relationships between Transwestern and its
> > shippers. You can then decide whether monitoring is sufficient or if
> > you need to participate.
> >
> > One last thing:
> > Yesterday, the Southern California Generation Coalition ("SCGC")
> > submitted a motion to supplement the Phase II record in the OII
> > proceeding. SCGC noted that the OII has discussed SoCalGas'
> > requested approval of Advice Letters Nos. 3002 and 3029. SCGC argued
> > in both its opening and reply brief that Schedule GT-F clearly
> > requires SoCalGas to provide firm, full requirements service to
> > customers electing that service option. Alternatively, SCGC argued
> > that to the extent Schedule GT-F is ambiguous, it must be construed in
> > favor of customers in the Imperial and San Joaquin Valleys.
> > However, the SoCalGas BCAP Application described above submits
> > proposed revisions to Schedule GT-F. SCGC complains that SoCalGas
> > did not disclose, in its reply brief, the fact that it was seeking in
> > its BCAP Application to revise the language of Schedule GT-F. The
> > motion states that, "The additional language SoCalGas has added to
> > Schedule GT-F clearly constitutes an admission, through conduct by
> > SoCalGas, that Schedule GT-F is not clear on its face. It
> > constitutes an admission that Schedule GT-F, as now constituted,
> > needs to be clarified. It admits that Schedule GT-F is ambiguous
> > and, in making that admission, resolves the ambiguity." SCGC then
> > requests the record be reopened to reflect these facts.
> >
> > Let me know what you would like to do with regard to the SoCalGas
> > application....and please pass this on to Steve Harris for his
> > information. Thanks!
> > Dan
> >
> > Law Offices of Daniel W. Douglass
> > 5959 Topanga Canyon Blvd. Suite 244
> > Woodland Hills, CA 91367
> > Tel: (818) 596-2201
> > Fax: (818) [email protected] << File:
> > mailto:[email protected] >>
> >
> > - LA1118909.DOC << File: LA1118909.DOC >>
>
>
> **********************************************************************
> This e-mail is the property of Enron Corp. and/or its relevant affiliate
and may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or reply
to Enron Corp. at [email protected] and delete all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
> **********************************************************************
|
{
"pile_set_name": "Enron Emails"
}
|
We have received a request to change UK power limit from $12.6MM VAR to $35MM. Quite sizeable but I spoke with Richard Lewis and he seemed convinced it was necessary. Do you guys agree? What if it were $20MM? Skilling will definitely ask why such a large increase so I need to have your full support. Rick
|
{
"pile_set_name": "Enron Emails"
}
|
I'm thinking my last email was unclear.
I assume that someone from the commercial team will send (or has sent) the
extension letter to MDEA, YC, and Clarksdale's commercial reps for their
review. I assume that the commercial reps with YC, MDEA, and Clarksdale
will get whatever legal input they want from their own lawyers if they think
it is necessary (may not), but as a courtesy, I sent drafts to the two
lawyers I know about.
Kay
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 10/12/2000
04:35 PM ---------------------------
Piazze <[email protected]> on 10/10/2000 10:45:39 AM
To: "'[email protected]'" <[email protected]>
cc:
Subject: Tiger Team application forms
Vince:
The application forms, as promised.
Good talking to you and Christie this morning. The project sounds very
exciting and we look forward to working with Enron.
Let me know if there is further info we can provide.
Thanks,
Donna
- 2001 Field Application Form 1.doc
- 2001 Field Application Form 2.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Sorry about the serial emails.
I need electronic versions of the final acknowledgement letters for both ABB
and GE, so that these can be emailed to them.
Please prepare a closing list. Between this and the financing side, I'm
chasing quite a few documents.
I hope to have the escrow agreement signed today, but I would really like to
know we have the amendment finished.
Thanks,
Kay
|
{
"pile_set_name": "Enron Emails"
}
|
Sharon, are they going to move the frig to 42? Thanks. Lynn
-----Original Message-----
From: Brown, Sharon
Sent: Friday, September 28, 2001 10:21 AM
To: Adams, Jean; Barry, Patrick; Benningfield, Robert; Blair, Jean; Bodnar, Michael; Bryan, Randy; Buchanan, John; Callans, Nancy; Carr, James; Clapper, Karen; Forbish, Sherry; Giambrone, Laura; Greaney, Chris; Hernandez, Bert; Hibbard, Scott; Janzen, Randy; Kowalke, Terry; Linhart, Joe; McDaniel, Janet; McEvoy, Christine; Miller, Beverly; Miller, Chris L; Minter, Tracy; Mulligan, Amy; Perry, Renee; Porter, Diana; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Walden, Shirley; Ward, Linda; Washington, Kathy; Wilkens, Jerry; Woodson, Harry; Bastida, Nancy; Berger, Larry; Brostad, Karen; Brown, Elizabeth; Carter, Zuela; Cormier, Martha; Dasilva, Esther; Davis, Larry; Eldridge, Dale; Hanagriff, Richard; Johnson, Alice; Lee, Dennis; Lindley, Hilda; Steele, Patricia; Trevino, Linda; Vasquez, Josue; Wagoner, Michael; Zadow, Raetta; Aldinger, William; Collins, Marion; Coon, Galen; Cooper, Tim; Cramer, Lanny; Howard, Jack; Laferla, Lynda ; Phillips, Mary; Rivers, Cynthia; Betancourt, Ramona ; Black, Legale ; Draemer, Mary ; Jaquet, Tammy; Kuehl, Toby; Matheson, Maggie; Medeles, Gerry; Studebaker, James
Cc: Blair, Lynn; Bryant, Mike; Corman, Shelley; Dietz, Rick; Holmes, Bradley; January, Steven; Nacey, Sheila; Scott, Donna; Carrillo, Alma; Garcia, Ava; Green, Alma; Winters, Ricki
Subject: RE: ETS - 41st Floor Relocations
Now would be a good time to remove any items from the refrigerators on 41. There are only about 10 people left on 41 and there's still enough food and/or containers left here to feed a small country. When everyone moves next week anything left in the refrigerator is history!
slb
-----Original Message-----
From: Brown, Sharon
Sent: Tuesday, September 18, 2001 2:11 PM
To: Adams, Jean; Barry, Patrick; Benningfield, Robert; Blair, Jean; Bodnar, Michael; Bryan, Randy; Buchanan, John; Callans, Nancy; Carr, James; Clapper, Karen; Forbish, Sherry; Giambrone, Laura; Greaney, Chris; Hernandez, Bert; Hibbard, Scott; Janzen, Randy; Kowalke, Terry; Linhart, Joe; McDaniel, Janet; McEvoy, Christine; Miller, Beverly; Miller, Chris L; Minter, Tracy; Mulligan, Amy; Perry, Renee; Porter, Diana; Scurlock, Debra; Sturr, Kathy; Vaughan, Cara; Walden, Shirley; Ward, Linda; Washington, Kathy; Wilkens, Jerry; Woodson, Harry; Bastida, Nancy; Berger, Larry; Brostad, Karen; Brown, Elizabeth; Carter, Zuela; Cormier, Martha; Dasilva, Esther; Davis, Larry; Eldridge, Dale; Hanagriff, Richard; Johnson, Alice; Lee, Dennis; Lindley, Hilda; Steele, Patricia; Trevino, Linda; Vasquez, Josue; Wagoner, Michael; Zadow, Raetta; Aldinger, William; Collins, Marion; Coon, Galen; Cooper, Tim; Cramer, Lanny; Howard, Jack; Laferla, Lynda ; Phillips, Mary; Rivers, Cynthia; Betancourt, Ramona ; Black, Legale ; Draemer, Mary ; Jaquet, Tammy; Kuehl, Toby; Matheson, Maggie; Medeles, Gerry; Studebaker, James
Cc: Blair, Lynn; Bryant, Mike; Corman, Shelley; Dietz, Rick; Holmes, Bradley; January, Steven; Nacey, Sheila; Scott, Donna; Carrillo, Alma; Garcia, Ava; Green, Alma; Winters, Ricki
Subject: ETS - 41st Floor Relocations
As you are well aware all of the ETS groups located on the 41st floor will be relocated beginning this week and through part of next week. Just a reminder, remove any food and/or containers that you have in either of the refrigerators in the 41st kitchen. After 41 is vacated facilities department (a.k.a. hazardous waste) will be called to clean the refrigerator and dispose of all items left behind.
Sharon Brown
ETS Gas Control
713-853-5660
|
{
"pile_set_name": "Enron Emails"
}
|
Vince,
?
Hi, sorry to bother you, but was wondering if you've heard anything about
seeking approval to use the text in the letter I sent last week?? We would
like to send this out early next week so if you know of someone who I should
contact within corporate communications, please let me know.
?
Thanks, and hope all is well.
?
Julie
|
{
"pile_set_name": "Enron Emails"
}
|
I saw Kim's response to Stephen Douglas, but it left me short of comfort on a
completion timeline or enough details around assurance on an on-going basis
that this will be kept up. I sent the note below to Kim. I am sure that she
manages well, but I think that we should encourage her to step into full
responsibility and to be able to effectively communicate that within the
organization. It is likely that when Stephen reads her note, that he will
call me and tell me that he still doesn't know when this task will be
completed. That was his concern yesterday, and Kim's note really doesn't
address that. If she doesn't have an estimated completion date, then she
should set a target date for having all of the info compiled and state that
at that date she will be able to create a realistic timeline for completing
the task.
Kim must own and communicate effectively the solutions, or I will be the one
that gets the phone calls. The ENA organization must develop confidence in
others on our team. Let's help Kim earn that confidence by coaching her to
imagine the info that the customers needs (Stephen) and to clearly
communicate information that addresses his needs. Thanks.
---------------------- Forwarded by Sally Beck/HOU/ECT on 12/28/2000 10:02 AM
---------------------------
Enron North America Corp.
From: Sally Beck 12/28/2000 10:01 AM
To: Kim S Theriot/HOU/ECT@ECT
cc:
Subject: Re: ENA RMT Confirmations
Kim, do you have an estimated completion date for the commodities where the
notation is that information is being compiled? My guess would be that the
one commodity that is up-to-date (financial power) is the one with the lowest
number of transactions. That means that the lion's share of the work is
still to be done. Are we staffed to get this completed in a timely manner?
As I mentioned to you before, I would not hesitate enlisting Jeff Sorenson to
do much of catch up work if we are short on people to get this done
promptly. Let me know if you need his help, and I will visit with Brent
Price. I know that Brent would support Jeff's involvement to get this caught
up.
Who specifically will be responsible on an on-going basis to handle the RMT
Confirmations? Will we have some sort of report that we can send to Stephen
each month that will indicate the completion of this task so that he is
comfortable on an on-going basis that this is being kept up-to-date? --Sally
Kim S Theriot 12/27/2000 05:51 PM
To: Stephen H Douglas/HOU/ECT@ECT
cc: Sally Beck/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT, Leslie
Reeves/HOU/ECT@ECT, Bob Bowen/HOU/ECT@ECT, Laurel Adams/HOU/ECT@ECT, Sheila
Glover/HOU/ECT@ECT, Rhett Jackson/HOU/ECT@ECT
Subject: ENA RMT Confirmations
Stephen,
As a follow-up to my earlier voicemail message, the status of the RMT
Confirmation Project is as follows:
Financial Gas: RMT Confirmations complete through December 1999
Bob Bowen is working on compiling the data for 2000
Financial Power: RMT Confirmations complete through November 2000
Financial Weather
and Liquids: Bob Bowen is working on compiling the data for 1999 and 2000
Financial FX: Laurel Adams is assessing the work to
compile the data for 1999 and 2000
From this point forward, the RMT Confirmation will be prepared on a monthly
basis for each commodity.
As far as the Year End RMT Project, I spoke with Bob Bowen this morning as to
the status. What he told me was that he was supposed to receive a file
containing the deal information of the deals involved. This was per the
meeting that he attended last week. As of this morning he had not received
anything He stated that he was expecting the file last week but never
received any information. He was going to follow-up with the appropriate
individual. I will give you an update in the morning to make sure that he
has the data needed to complete the project.
If you have any further questions, please call me at ext. 31771.
Kim Theriot
|
{
"pile_set_name": "Enron Emails"
}
|
Thanks for the referral. We definitely want to get our story out to these
guys. Just for future reference, Meredith Phillipp is handling "New Media"
for us. Thanks
Janel Guerrero@ENRON
07/19/2000 05:52 PM
To: Steven J Kean/HOU/EES@EES, Mark Palmer/Corp/Enron@ENRON
cc:
Subject: Interview Request
Hi guys. My friend, Polly Traylor, is an editor at the Industry Standard in
San Francisco. One of her colleagues -- Michelle Rafter -- sent me the
email below requesting an interview for an Enron story she is working on. I
have not spoken with this writer and am forwarding it to you for follow up.
Hope all is well. Call me if you have any questions.
---------------------- Forwarded by Janel Guerrero/Corp/Enron on 07/19/2000
05:48 PM ---------------------------
"Michelle V. Rafter" <[email protected]> on 07/19/2000 02:34:06 PM
To: <[email protected]>
cc:
Subject: Friend of Polly Traylors asking for a favor
Hi Janel:
My name is Michelle Rafter and I'm a writer for the Industry Standard. I work
with Polly Traylor who
suggested that I contact you for help. I'd like to talk to someone at Enron
for a story I'm doing
for the Standard on Internet CEOs, including CEOs or presidents who've led
traditional companies
into successful Internet ventures. I first need to identify who at Enron that
person would be, i.e.,
who's most responsible for the success of the company's Internet ventures:
Jeffrey Skilling (he got
the most ink in BusinessWeek's story in this issue), Kenneth Lay, or the head
of EnronOnline. Then I
need to talk to someone who could help coordinate a phone interview with me
(I'm in Los Angeles so
this would be a phone interview). Can you give me some suggestions? Ideally,
I'd love to do an
interview this week, but have some flexibility.
Thanks so much in advance for any help you can give.
Michelle Rafter
?Michelle V. Rafter?Contributing Writer, The Industry Standard?LIVEWIRE columnist, Reuters?714.870.6722 /phone?707.248.5013 /[email protected] /email?????
|
{
"pile_set_name": "Enron Emails"
}
|
Start Date: 4/5/01; HourAhead hour: 20; No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001040520.txt
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 20 / Preferred: 12.00 / Final: 12.03)
TRANS_TYPE: FINAL
SC_ID: Wheelabrat
MKT_TYPE: 2
TRANS_DATE: 4/5/01
UNIT_ID: MARTEL_2_AMFOR
|
{
"pile_set_name": "Enron Emails"
}
|
Tana-
None of the counterparties mentioned in the attached list are authorized to
transact US Physical Power Products (East or West) on EOL.
Thanks,
Shari
Tana Jones
01/24/2001 09:08 AM
To: Alan Aronowitz/HOU/ECT@ECT, Jeffrey T Hodge/HOU/ECT@ECT, Shari
Stack/HOU/ECT@ECT, Harry M Collins/HOU/ECT@ECT, David
Minns/ENRON_DEVELOPMENT@ENRON_DEVELOPMENt, Marie Heard/Enron
Communications@Enron Communications, Robbi Rossi/Enron Communications@Enron
Communications, John Viverito/Corp/Enron@Enron, Jane McBride/AP/Enron@Enron,
Andrea Calo/SA/Enron@Enron, Peter Keohane/CAL/ECT@ECT
cc:
Subject: EOL approvals, 01-24-01
----- Forwarded by Tana Jones/HOU/ECT on 01/24/2001 09:12 AM -----
Walter Guidroz@ENRON
01/24/2001 09:09 AM
To: Karen Lambert/HOU/ECT@ECT, Tana Jones/HOU/ECT@ECT, Samuel
Schott/HOU/ECT@ECT, Mark Taylor/HOU/ECT@ECT, Brant Reves/HOU/ECT@ECT, Debbie
R Brackett/HOU/ECT@ECT, David Hardy/LON/ECT@ECT, Lesli Campbell/HOU/ECT@ECT,
Cynthia Clark/Corp/Enron@ENRON, Mary G Gosnell/HOU/ECT@ECT, Enron Europe
Global Contracts and Facilities, Enron Europe Global
CounterParty/LON/ECT@ECT, Stephanie Sever/HOU/ECT@ECT, Bradley
Diebner/HOU/ECT@ECT, Tom Moran/HOU/ECT@ECT, Adnan Patel/Corp/Enron@ENRON,
Claudia Clark/HOU/ECT@ECT, William S Bradford/HOU/ECT@ECT, Lisa
Lees/HOU/ECT@ECT, Juana Fayett/Corp/Enron@Enron, Jana Morse/Corp/Enron@Enron,
Trang Le/HOU/ECT@ECT, Paul Maley/LON/ECT@ECT, Sonya Clarke/LON/ECT@ECT, Lee
Munden/LON/ECT@ECT, Tim Davies/LON/ECT@ECT, Karen O'Day/NA/Enron@Enron, Tanya
Rohauer/HOU/ECT@ECT, Kelly Lombardi/NA/Enron@Enron, Kelly
Lombardi/NA/Enron@Enron
cc:
Subject: EOL approvals, 01-24-01
Attached are EOL approvals for January 24, 2001.
|
{
"pile_set_name": "Enron Emails"
}
|
----- Original Message -----
From: <[email protected]>
To: <[email protected]>
Sent: Wednesday, June 06, 2001 8:23 PM
Subject: Daily Gas News - 6/7/01
>
> ______________________________________________________________________
>
> ENERGY CENTRAL GAS NEWS FOR 6/7/01 - 22 NEW ITEMS
> ______________________________________________________________________
>
> ** TO CHANGE TO THE HTML-ENHANCED VERSION OF THIS SERVICE -
> ** go to http://www.energycentral.com/sections/services
>
> For more news visit us at http://www.energycentral.com/sections/gasnews.
> See the end of this message for information on submitting press
releases,
> subscribing/unsubscribing, advertising and other Energy Central
products.
>
> ______________________________________________________________________
>
> ENERGY CENTRAL NEWS SPONSOR
> ______________________________________________________________________
>
> Free 2-week trial to Restructuring Today is available to Energy
> Central users. You can now receive the content for this
> publication through the Energy Central web site. Visit
> http://www.energycentral.com/sections/publications/ to start your trial.
>
> ______________________________________________________________________
>
> ENERGY CENTRAL NEWS SPONSOR
> ______________________________________________________________________
>
> Want to hire the best professionals the energy industry has to
> offer? Post your open positions in the Energy Central Job Center.
> FREE with every posting is one announcement in our Job Watch
> e-mail! Circulated to more than 28,000 industry professionals
> weekly, the Job Watch will put your position in front of the best
> candidates possible. Your company's first 30-day posting is
> absolutely FREE! Click here for your FREE posting:
http://www.energycentral.com/sections/jobs/
>
> ______________________________________________________________________
>
> ACCOUNT STATUS!!!
> ______________________________________________________________________
>
> You are currently not a subscriber to the Energy Central
> Daily Gas News Service.
> [ ] 17-1674: Type an 'x' between the brackets to request information
> on subscribing to Energy Central Daily Gas News
>
> ______________________________________________________________________
>
> CALIFORNIA CRISIS
> ______________________________________________________________________
>
> CHEVRON TO CUT RUNS UNLESS EXEMPTED FROM CALIF. BLACKOUTS
> NEW YORK, June 5 (Reuters) - - Chevron Corp. will reduce gasoline
> output at its two California refineries if they are not exempted
> from rolling blackouts this summer, the company said in a letter.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> MERGERS, ACQUISITIONS & DIVESTITURES
> ______________________________________________________________________
>
> KERR-MCGEE GRANTED EARLY TERMINATION OF HART-SCOTT-RODINO WAITING
> PERIOD FOR HS RESOURCES ACQUISITION
> OKLAHOMA CITY, June 6 /PRNewswire/ - Kerr-McGee Corp. announced
> today that it has been granted early termination of the waiting
> period under the Hart-Scott-Rodino Antitrust Improvements Act of
> 1976, in regards to the $1.7 billion acquisition of HS Resources, Inc.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> EXECUTIVES SAY COLORADO ENERGY FIRMS MAKE ATTRACTIVE TAKEOVER TARGETS
> By Steve Raabe, The Denver Post -- June 5 - Colorado energy
> companies will become increasingly attractive targets for big
> national companies seeking to grow even bigger, officials said
> Monday at a Denver conference.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
>
> ///------------------------ADVERTISEMENT------------------------\\\
>
> A new comprehensive 150-page study of the Distributed
> Generation (DG) industry is now available to Energy Central
> Users! Visit
http://www.energycentral.com/global/sho_rpt.cfm?id=100058.
>
> \\\-------------------------------------------------------------///
>
> ______________________________________________________________________
>
> DRILLING/EXPLORATION
> ______________________________________________________________________
>
> BP SETS PLAN FOR $600 MLN TRINIDAD GAS PROJECT
> PORT OF SPAIN, Trinidad, June 5 (Reuters) - - BP Trinidad and
> Tobago said it is preparing to launch a US$600 million off-shore
> natural gas project in July, in part to feed the Caribbean
> nation's giant Atlantic liquefied natural gas plant.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> LEASES/ACREAGE
> ______________________________________________________________________
>
> REGENT ENERGY CORPORATION TO PURCHASE SOUTH THORNWELL FIELD FROM
> MTBB ACQUISITION, LLC
> HOUSTON, June 6 /PRNewswire/ - Regent Energy Corporation
> announced today that it has entered into an agreement to purchase
> the South Thornwell Field in Jefferson Davis Parish, Louisiana
> from MTBB Acquisition, LLC for $1.1 million and 25% of the field's
> cash flow (after recovery of costs). Regent will be operator of
> three of the four wells.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> PIPELINES
> ______________________________________________________________________
>
> COMMISSIONERS VOTE TO APPROVE WISCONSIN GAS LATERAL; NEW LINE WILL
> BRING COMPETITION TO SOUTHEASTERN WISCONSIN
> June 6 (News Release) - The Public Service Commission of Wisconsin
> voted to approve construction of the 35-mile Wisconsin Gas
> Lateral. T
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> GENERAL
> ______________________________________________________________________
>
> BRITISH POST OFFICE INVESTIGATES METHODS OF PROVIDING CHEAPER
> UTILITY BILLS
> Evening Standard, London -- June 5 - The Post Office is studying
> ways of providing cheaper utility bills for poor customers who do
> not pay by direct debit.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> TRADING/MARKETING
> ______________________________________________________________________
>
> CAL-ISO FIGURES FOR BENCHMARK PRICING OMIT AIR-QUALITY OFFSET COSTS
> June 4 (California Energy Markets) - With a new market-mitigation
> plan taking effect May 29, the California Independent System
> Operator has begun posting some of the information that will help
> determine energy price benchmarks during system emergencies, as
> ordered by the Federal Energy Regulatory Commission.
> --> NEWS SUBSCRIBERS can access this article for free!
> [ ] 55-1: You can request 2 FREE samples of CALIFORNIA ENERGY MARKETS
>
>
> ______________________________________________________________________
>
> DEALS/CONTRACTS
> ______________________________________________________________________
>
> VALERO POSITIONS TO BECOME CHALLENGER TO EXXONMOBIL; SHAKEUP IN OIL
> INDUSTRY INCLUDES POWER FIRMS
> By Will McNamara, IssueAlert, June 6 (Scientech) - Valero Energy
> Corp. announced that it has agreed to lease a Texas oil refinery
> and pipelines owned by El Paso Corp., securing the fast-growing
> company's position as the second largest refinery concern in the
> United States.
> --> NEWS SUBSCRIBERS can access this article for free!
> [ ] 55-33: Read IssueAlert everyday at http://www.consultRCI.com.
>
>
> ______________________________________________________________________
>
> POWER PROJECTS
> ______________________________________________________________________
>
> TECO BREAKS GROUND ON 599-MW ARKANSAS POWER PLANT
> NEW YORK, June 5 (Reuters) - - TECO Energy subsidiary TECO Power
> Services held a groundbreaking ceremony Tuesday on its
> 599-megawatt natural gas-fired power plant in Dell, Ark.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> FUEL
> ______________________________________________________________________
>
> JULY FUTURES DROPS TO 1-WEEK LOW ON SIZEABLE STORAGE BUILD
> June 6 (Btu's Daily Gas Wire) - July natural gas futures settled
> down 9.1 cents at $3.801 after the American Gas Association
> detailed a 117 billion cubic feet increase to storage during the
> week ended Friday (6/1), a figure at the top end of most estimates.
> --> NEWS SUBSCRIBERS can access this article for free!
> [ ] 55-40: You can request a free 4 week free trial to BTU's Daily
> Gas Market Report.
>
>
> ______________________________________________________________________
>
> ENVIRONMENTAL
> ______________________________________________________________________
>
> SHELL CONTRIBUTES $1 MILLION TO HELP PRESERVE LAGUNA MADRE
> HOUSTON, June 6 /PRNewswire/ - The Shell Oil Company Foundation
> today announced a $1 million commitment to The Nature Conservancy
> to help save the Laguna Madre ecosystem on the Gulf of Mexico.
> Provided over a four-year period, this contribution will be used
> to purchase land and fund conservation activities.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> FINANCIAL
> ______________________________________________________________________
>
> EMERA TO BUY 8.4 PCT STAKE IN SABLE GAS PROJECT
> TORONTO, June 6 (Reuters) - - Canadian energy company Emera Inc.
> said on Wednesday it will spend C$50 million ($33 million) to buy
> an 8.4 percent stake in the Sable Offshore Energy natural gas
> project in Nova Scotia, a smaller investment than one announced
> earlier this year.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> HARKEN ENERGY SEEKS TO REFOCUS ON U.S. NATURAL GAS
> HOUSTON, June 6 (Reuters) - - Harken Energy Corp. said Wednesday
> its directors approved a restructuring effort to focus on its U.S.
> assets, particularly its natural gas prospects.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> ______________________________________________________________________
>
> INTERNATIONAL
> ______________________________________________________________________
>
> STATOIL ASKS FOR EXPLANATION
> Jun 06, 2001 - FT World Media Abstracts via Comtex - Statoil, the
> Norwegian state-owned oil and energy group, is soon to be
> privatised and listed on the stock exchanges in Oslo and New York.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> NORWEGIAN POLITICAL PARTIES DISCUSS THE GOVERNMENT'S OWNERSHIP OF STATOIL
> Jun 06, 2001 - FT World Media Abstracts via Comtex - Olav
> Akselsen, the Norwegian minister for oil and energy, has revealed
> that the government has no plans to reduce its stake in Statoil,
> the Norwegian state-owned oil group, below the agreed one-third.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> INDONESIAN OILMIN SEES ARUN GAS RESTART IN JUNE
> VIENNA, June 5 (Reuters) - - Indonesia hopes to reopen gas fields
> in the rebellious Aceh province "sometime" in June and resume
> valuable exports of liquefied natural gas (LNG), Energy Minister
> Purnomo Yusgiantoro said on Tuesday.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> BALEARIC ISLANDS SIGN GAS SUPPLY AGREEMENT
> Jun 06, 2001 - FT World Media Abstracts via Comtex - The leader of
> the government of the Balearic islands, Francesc Antich i Oliver,
> and the chairman of Spanish gas company Enagas signed a gas supply
> agreement yesterday.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> GAS, RANCI REVOLUTIONISES DISTRIBUTION
> Jun 06, 2001 - FT World Media Abstracts via Comtex - The Italian
> energy authority yesterday published its new provisions for gas
> distribution tariffs in Italy.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> AUTHORITY VALUES ENI NETWORK AT L18,200BN
> Jun 06, 2001 - FT World Media Abstracts via Comtex - The Italian
> energy authority has valued the gas distribution network of
> Italian oil group ENI at L18,200bn. ENI is to transfer the network
> to Rete Gas Italia, which will be listed this autumn.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> RUSSIA MAY DELAY PLANNED AUTUMN GAZPROM REFORM-PM
> MOSCOW, June 6 (Reuters) - - Russia may delay discussing a
> restructure of gas monopoly Gazprom this autumn as was previously
> planned, as there are too many reforms under way, Prime Minister
> Mikhail Kasyanov said on Wednesday.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
> BANKS READY FOR INVESTMENT BONANZA IN SAUDI ARABIAN GAS MARKET
> By Peter Cooper, AME Info, Abu Dhabi, United Arab Emirates -- June
> 4 - International and Saudi banks are very excited by the 5-30
> billion initial foreign investment in the Saudi Arabian gas sector
> announced at the end of May.
> --> NEWS SUBSCRIBERS can access this article for free!
>
>
>
>
___________________________________________________________________________
>
> NEED INFORMATION ON THE POWER INDUSTRY?
> ENERGY CENTRAL'S GOT IT!
>
___________________________________________________________________________
>
> ENERGY CENTRAL DAILY GAS NEWS
> An e-mail news service that delivers every major story every
> day directly to your e-mail address. Inquire for corporate and
> group discount rates. [email protected]
> [ ] 17-1674: Type an 'X' here for subscription information.
>
> ENERGY CENTRAL DAILY ELECTRIC POWER NEWS
> An e-mail news service that delivers every major story every
> day directly to your e-mail address. Inquire for corporate and
> group discount rates. [email protected]
> [ ] 17-645: Type an 'X' here for subscription information.
>
> RFP SERVICES
> Hundreds of open and archived requests for proposals, bids, and
> quotations that provide new business opportunities and competitive
> information. Tap into the electric power marketplace today!
> [ ] 17-646: Type an 'X' here for subscription information.
>
> CONFERENCE WATCH
> The conference watch is a weekly e-mail service and on-line
> database that lists upcoming industry conferences, seminars, and
> trade shows. This service is free to all power professionals.
> [ ] 17-647: Type an 'X' here for information on promoting your
> upcoming event.
>
> DATA CENTER
> Energy Central partners with the best research, publishing and
> consulting firms to create useful online database applications.
> Visit the Data Center to gain immediate access to online databases
> and instant reports including key electric power industry
> information.
>
> ______________________________________________________________________
>
> DIRECTIONS, INFORMATION AND COPYRIGHT NOTICE
> ______________________________________________________________________
>
> ABOUT ENERGY CENTRAL'S NEWS SERVICE
> This news summary service is provided FREE to qualified
> professionals in the power industry. This news summary may
> be redistributed provided it is kept in its entirety.
>
> * Visit http://www.energycentral.com/sections/services to START, STOP,
> or CHANGE FORMAT for all of your e-mail subscriptions.
>
> * To BEGIN receiving this summary directly, send
> a message with a subject of 'signup' to [email protected].
>
> * To STOP receiving this service, send a message to
> [email protected] or call Member Services at 303-782-5510.
>
> SUBSCRIPTION INFORMATION
> The full text of articles referenced in this summary is available to
> Energy Central Gas News Subscribers and Members. An individual annual
> subscription costs US$15.95 per month. To sign up for an individual
> subscription, or for information about corporate discounts, call
> CyberTech at 800-459-2233, 303-782-5510, or send an e-mail message to
> [email protected].
>
> TO RETRIEVE FULL TEXT ITEMS THROUGH YOUR E-MAIL SYSTEM:
> 1) Use your mail program to REPLY with the text of this message.
> (If REPLY is not available, try REDIRECT, FORWARD or RESEND)
> (If none of these features are available, copy this message
> and paste the text into a new message.)
> 2) For each item that you would like delivered, type an 'x' between
> the brackets associated with that item. Example: [x]
> IMPORTANT: Do not change or delete any other text on that line!
> 3) Send your request to [email protected].
> If you used the REPLY feature of your mail program, this address
> should already be filled in.
>
> PRESS RELEASES
> Submit press releases and other news to [email protected]
>
> SPONSORSHIP AND ADVERTISING
> For sponsorship or advertising info call sales at 303-782-5510
>
> TO DELIVER YOUR ARTICLES, PAPERS, PROCEEDINGS OR MONOGRAPHS THROUGH
> ENERGY CENTRAL:
> Energy Central provides a variety of mechanisms for delivery of
> information to power professionals including this news
> product, Energy Central Web Site (http://www.energycentral.com),
> Energy Central Conference Watch(tm), and others. We can deliver
> your information on a promotional, subscription, or a pay-per-view
> basis. For more information, contact Steve Drazga at 303-782-5510,
> [email protected].
>
> COPYRIGHT INFORMATION
> This message and the interactive delivery system is part of
> CyberTech's Interactive Electronic Marketing Systems. These systems
> include custom message delivery, context based linking, interactive
> response, user authentication and validation, 'pay-per-view' delivery,
> database publishing and web/email integration. For information on
> customizing these systems for your organization or delivering your
> information through these systems, contact CyberTech Sales at
> 800-459-2233 or 303-782-5510 or send an E-mail to
> [email protected].
>
> Copyright (c) CyberTech, Inc 2001.
> Energy Central (r) is a registered trademark of Cybertech,
> Incorporated.
> ______________________________________________________________________
>
> END OF MESSAGE
> ______________________________________________________________________
>
>
|
{
"pile_set_name": "Enron Emails"
}
|
No rest for the wicked, huh?
I'd offer to take you out for that drink tonight, but I need to pick up Avril
from the airport in an hour.
Hope you got to enjoy at least some of your weekend. . .
Dave
To: David Forster/LON/ECT@ECT
cc:
Subject: Re: Draft EOL Termination Letter
I have not received any comments. I consider it final. Let me know if you
need to have it customized for any particular circumstance. Since I don't
know who (or for that matter what) the PCG heads are, I sugggest that if they
need it you send them copies.
David Forster
02/13/2000 04:23 PM
To: Mark Taylor/HOU/ECT@ECT
cc:
Subject: Re: Draft EOL Termination Letter
Mark,
Please let me know when you consider this letter finalised - one of us should
send copies to the PCG heads.
Dave
From: Mark Taylor 01/26/2000 12:39 AM
To: Bob Shults/HOU/ECT@ECT
cc: Justin Boyd/LON/ECT@ECT, Edmund Cooper/LON/ECT@ECT, Louise
Kitchen/LON/ECT@ECT, David Forster/LON/ECT@ECT
Subject: Draft EOL Termination Letter
Here's a draft of a termination letter. I'd be happy to see what everyone
thinks before we use it. For instance, what tone are we aiming for? If we
want to be all legal and hard-nosed, I can throw in ETA section references,
etc. or if we want to be softer we can emphasize other trading opportunities
within Enron and possibly explain our reasons for the termination.
Let me know what you think.
|
{
"pile_set_name": "Enron Emails"
}
|
How do you feel about making Enron an advisory member of the Marketing
Committee? I'm concerned that we will run afoul of Miss law regarding
control. Would this create a problem for us?
Kay
|
{
"pile_set_name": "Enron Emails"
}
|
Per the note you received from Joe Hirl regarding a weekly Japan update
conference call, the following is your call-in information:
Thursdays, beginning February 24.
Houston: 4:00 p.m.
London: 10:00 p.m.
Fridays, beginning February 25
Tokyo: 7:00 a.m.
Sydney: 9:00 a.m.
Domestic number: 800-991-9019
International number: 847-619-8039
Passcode: 5057851
Conference Room 3AC 2195 has been reserved for Houston participants.
Please join this kick-off meeting.
|
{
"pile_set_name": "Enron Emails"
}
|
NOTICE - This message contains information intended only for the use of the
addressee named above. It may also be confidential and/or privileged. If
you are not the intended recipient of this message you are hereby notified
that you must not disseminate, copy or take any action in reliance on it. If
you have received this message in error please notify [email protected].
- GORINCH.jpg
|
{
"pile_set_name": "Enron Emails"
}
|
Hey, I didn't call you back because of the fuckup that I learned of right
after you hung up on me. I'm sorry.
|
{
"pile_set_name": "Enron Emails"
}
|
Sounds great, but we may not have time for the tattoos.
Laura Giambrone
01/10/2001 08:36 AM
To: Teb Lokey/FGT/Enron@ENRON, Nancy Carpenter/FGT/Enron@ENRON
cc:
Subject: Re: lunch
Teb, Nancy's 1:00 got cancelled.....so today would be good for both of us.
---------------------- Forwarded by Laura Giambrone/FGT/Enron on 01/10/2001 08:35 AM ---------------------------
Teb Lokey
01/10/2001 08:28 AM
To: Nancy Carpenter/FGT/Enron@ENRON, Laura Giambrone/FGT/Enron@ENRON
cc:
Subject: Re: lunch
If it would work better for you all, we could get together for lunch/dinner and a tattoo on Saturday, or the weekend after the race. Let me know.
---------------------- Forwarded by Teb Lokey/FGT/Enron on 01/10/2001 08:28 AM ---------------------------
Teb Lokey
01/10/2001 08:13 AM
To: Nancy Carpenter/FGT/Enron@ENRON
cc: Laura Giambrone/FGT/Enron@ENRON
Subject: Re: lunch
Sure, if you and laura can leave by about 11:15 we can be back before 1:00. Let me know if that works for both of you.
Nancy Carpenter
01/10/2001 07:58 AM
To: Teb Lokey/FGT/Enron@ENRON, Laura Giambrone/FGT/Enron@ENRON
cc:
Subject: lunch
I'm starting to have the weirdest schedule. I have a meeting from 9:00 to 11:00, and one at 1:00. Is that enough time to have lunch today?
N
<Embedded StdOleLink>
|
{
"pile_set_name": "Enron Emails"
}
|
Just a reminder - your leather chair that you have purchased from Enron is located in either Mt Hood or Mt Adams.
If you have any questions, please let me know!
Amy
|
{
"pile_set_name": "Enron Emails"
}
|
Reservation status has changed. Details of the reservation are listed below:
ASSIGNMENT_REF = 29787
SELLER_CODE = AZPS
SELLER_DUNS = 958982563
CUSTOMER_CODE = EPMI
CUSTOMER_DUNS = 848921276
AFFILIATE_FLAG = 0
PATH_NAME = W/AZPS/AZPS-AZPS/FOURCORNE345 - PNPKAPS230//
POINT_OF_RECEIPT = FOURCORNE345
POINT_OF_DELIVERY = PNPKAPS230
SOURCE = FOURCORNERS
SINK = PNPK
CAPACITY = 25
CAPACITY_REQUESTED = 25
SERVICE_INCREMENT = HOURLY
TS_CLASS = FIRM
TS_TYPE = POINT_TO_POINT
TS_PERIOD = OFF_PEAK
TS_WINDOW = FIXED
TS_SUBCLASS = WHEEL
NERC_CURTAILMENT_PRIORITY = Nerc Priority 1
OTHER_CURTAILMENT_PRIORITY = Default
START_TIME = 04/03/2002
STOP_TIME = 04/04/2002
CEILING_PRICE = 1.95
OFFER_PRICE = 1.95
BID_PRICE = 1.95
PRICE_UNITS = $/mW
PRECONFIRMED = YES
ANC_SVC_LINK = N/A
ANC_SVC_REQ = N/A
POSTING_REF = 0
SALE_REF =
REQUEST_REF =
DEAL_REF =
NEGOTIATED_PRICE_FLAG =
STATUS = CONFIRMED
STATUS_NOTIFICATION = [email protected]
STATUS_COMMENTS =
TIME_QUEUED = 04/02/2002
TIME_OF_LAST_UPDATE = 04/02/2002
PRIMARY_PROVIDER_COMMENTS =
SELLER_COMMENTS =
CUSTOMER_COMMENTS = please call 503-464-5070 if problems
SELLER_NAME = AZPS
SELLER_PHONE = 602.250.1128
SELLER_FAX = 602.250.1155
SELLER_EMAIL = [email protected]
CUSTOMER_NAME = Enron Power Marketing, Inc.
CUSTOMER_PHONE = (713)853-3801
CUSTOMER_FAX = (713)646-8272
CUSTOMER_EMAIL = [email protected]
REASSIGNED_REF = 0
REASSIGNED_CAPACITY = 0
|
{
"pile_set_name": "Enron Emails"
}
|
Dan, the only thing I'm missing on the Enovate contract is the
notices/billing/payment page. If you want to just email me the info, I'll
plug it in.
Thanks so much for your help.
Ellen Dailey
[email protected] on 11/29/2000 10:30:38 AM
To: [email protected]
cc: [email protected]
Subject: Re: Midwest Energy Hub, L.L.C./Reliant & ENA/Reliant agreements
Ellen,
I received your voice mail and your email this morning. I made each
of the changes from your email to the two contract documents. Please
review and if acceptable, please start the execution process by printing
two originals of each document. Once signed by Reliant, please forward to
me and I will have ENA sign their contract and I will attempt to get
Enovate to sign and return their contract and the two transaction
agreements to me for forwarding one fully set to you. Please call if you
have any questions. My phone number is (713)853-6895.
(See attached file: Reliant-Enovate.doc)(See attached file:
2000-51crfm.doc)(See attached file: 2000-51acrfm.doc)(See attached file:
Reliant-ENA.doc)
(See attached file: Reliant-Enovate.doc)
(See attached file: 2000-51crfm.doc)
(See attached file: 2000-51acrfm.doc)
(See attached file: Reliant-ENA.doc)
- Reliant-Enovate.doc
- 2000-51crfm.doc
- 2000-51acrfm.doc
- Reliant-ENA.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Stan:
Here is the data, 100% data recovery, with a very quick turn-around from Mr.
Fisher. Thanks Mark!
Regards
KLC
Mark Fisher
05/10/2002 01:24 PM
To: Kevin Cousineau/EWC/Enron@ENRON
cc: Hollis Kimbrough/EWC/Enron@ENRON
Subject: Desert Sky ZMET graphs
Kevin,
Here are the graphs and data recovery information for the three ZMET stations
at Desert Sky (Clear Sky/Indian Mesa). I chose to use May 9, 2002 and did 24
hours (one of the stations was pretty flaky before May 8 in the afternoon). I
don't know if these readings make sense, but we got exactly the expected
number so 100% recovery. Hopefully these graphs finish up this testing phase.
Mark
|
{
"pile_set_name": "Enron Emails"
}
|
----- Forwarded by Rob Walls/NA/Enron on 12/05/2000 10:20 AM -----
Sheila Walton@ECT
12/04/2000 09:11 PM
To: Rob Walls/NA/Enron@Enron
cc:
Subject:
Please review and let me know if we need to make changes, deletions or
additions. Please print each of these documents so you can review an actual
copy.
Thanks.
Sheila
|
{
"pile_set_name": "Enron Emails"
}
|
Notice # 01-113
March 30, 2001
TO:
ALL NYMEX/COMEX DIVISION MEMBERS
ALL NYMEX/COMEX DIVISION MEMBER FIRMS
ALL NYMEX/COMEX DIVISION CLEARING FIRMS
ALL NYMEX/COMEX DIVISION OPERATION MANAGERS
FROM:
George Henderson, Vice President
Michael Campanelli, Vice President
RE:
April ATOM Processing Schedule
DATE BUSINESS DAY EVENT
4/2 1 Preliminary ATOM reports
4/4 3 Last day for adjustments.
4/5 4 Final ATOM reports.
4/6 5 CMs debited for brokerage.
4/10 7 NYMEX gets confirmation of available Funds in escrow account
and initiates
Transfer to Brokers.
4/11 8 Funds are deposited to broker accounts.
4/12 9 Brokers who check their morning
Balances will see the ATOM deposits
Reflected in their bank balances.
NOTE:
Broker enrollments for May cycle must be received by the Membership
Department no later than 10:00 A.M., on April 27, 2001.
If you have any questions regarding NYMEX, please contact Juan Serrano or
Gerard Taibi at (212) 299-2626.
If you have any questions regarding COMEX, please contact David Sherman at
(212) 299-2061
__________________________________________________
Please click on the link below to indicate you have received this
email.
"http://208.206.41.61/email/[email protected]&
refdoc=(01-113)"
Note: If you click on the above line and nothing happens, please copy
the text between the quotes, open your internet browser,
paste it into the web site address and press Return.
|
{
"pile_set_name": "Enron Emails"
}
|
[IMAGE] Client Profile El Paso Energy Marketing , one of the top energy trading organizations in the world, is a dedicated FIMI customer. ProphetX is their primary trading tool and is used by hundreds of their Traders. Additionally, El Paso takes advantage of other FIMI tools to facilitate middle and back office processes, feed data warehousing systems and accommodate TIBCO adapter creation. "We use FIMI's tools because they are 'rock-solid'. We have users world-wide who rely on FIMI's tools 24 hours a day. We have to have a system that is reliable and stable and FIMI gives us that. FIMI's desktop software, ProphetX allows our traders to be more productive and profitable." -- Mario Gomez - Lead Senior Analyst Have it your Way! Coming Soon - ProphetX Select - look for these new features in this upcoming product:  Seasonal Charting Date Segmentation Calendar Avg. Function New Charting Navigation New Symbol Drilldown Accessible over the Internet Contact FIMI for more information. Employee Corner Marge Petkovsek: Manager Client Relations Marge Petkovsek has been working with FIMI for the past four years heading up our training initiative. She has recently moved into a new position as Manager of Customer Relations. In this position, her objective is to work more closely with FIMI's clients to maintain an optimum relationship, enhance our communications channels and share how FIMI can help you reach your goals more efficiently and effectively. Marge will continue to coordinate the training function, as well as manage product enhancement requests. "I really enjoy working with FIMI's customers. Each has unique requirements. It's both challenging and satisfying to assist them in creating solutions for their individual needs." -- Marge Petkovsek
FIMI Xcetera Vol. 1, Issue 1, November 2001 Partner Spotlight FIMI Reaches Agreement to Distribute Reuters Data Reuters data is now available via ProphetX Select on the internet. With the Internet version of Reuters you will receive the same extensive news content and quote prices that have been available to our corporate customers. To obtain a free trial of Reuters data through ProphetX please contact a Reuters sales representative at 1-800-435-0101/option 6. Platt's and FIMI Give You a Jump on the Competition The hottest new information in the energy industry, Platt's Energy Market Edge, is now available through ProphetX. Get on-the-spot reporting of the latest prices in your region Calculate market-to-market values on the day of your transactions Consider forwards market prices for both natural gas and electricity Only ProphetX and Energy Market Edge subscribers will see the daily closing indices right in ProphetX a day before they're published in Gas Daily and Megawatt Daily. For more information, please contact [email protected] or 1-800-532-0136. Check out the EME demo at: energymarketedge.com Natural Gas Intelligence (NGI) Now Available Through ProphetX See these cash prices directly in ProphetX: Daily Gas Price Index Daily spot cash prices at 87 key delivery points including Chicago, Citygate, Southern California Border, Henry Hub and more For all published locations beginning July 1993 NGI's Weekly Gas Price Index NGI's first of the month Bidweek Price Survey Key cash prices, indexes at over 100 points Chicago and California Citygates For all published locations beginning June 1988 For NGI pricing information, please contact Cathleen Behan at 800-427-5747 or sen and email to: [email protected] . FIMI Promotions Earn a Free Month of ProphetX On-The-Net or ProphetX Select Service! FIMI is rolling out a new Client Referral program. For every referral that you send FIMI, you can earn a free month of ProphetX On-The-Net or ProphetX Select service. As soon as your referral subscribes to a FIMI service, we will credit your account with a free month of service! (Does not include data or exchange fees) Help FIMI grow by sharing your experience with your friends, co-workers, and professional colleagues. All you need to do is send an email to FIMI Sales at: [email protected] . On the Town Visit FIMI at the Upcoming FIA Show In the Windy City! FIMI will be exhibiting its latest product releases at the Futures & Options Expo 2001 in Chicago from November 28 -30. Make sure to stop by our booth (booth# 435) and discuss our exciting initiatives with a FIMI representative. While you are there, drop off your business card and you could win a new Nomad MP3 Jukebox Player. FIMI University Extract More Value From Your Trading Tools. We can assist in your training needs by providing hands-on or group consultations with your ProphetX users. We have a variety of programs available from custom on-site sessions to net meetings. To discuss training opportunities for your organization please contact Marge at [email protected] or 1-800-532-0136.
This is a post-only mailing. Please do not respond to this message unless you wish to unsubscribe. To unsubscribe, please 'reply to' this email and type 'unsubscribe' in the subject line. For a response to any other correspondence, please send an email to: [email protected] .
Copyright 2001 Financial Information Management, Inc. All Rights Reserved.
|
{
"pile_set_name": "Enron Emails"
}
|
lets talk again before too long. there is a lot going on.
|
{
"pile_set_name": "Enron Emails"
}
|
Mark: As I am sure you agree, I thought that CA Attorney General Lockyer's
comment last week in the WSJ was one of the most outrageous I have ever seen
from a major public official. I wanted to send a brief "Letter to the
Editor" of the WSJ to that effect. However, in light of the sensitivity of
the entire CA situation in general and the further press last week in the New
York Times, I did not want to do that without confirming with you that doing
so would not be objectionable to the Company. A copy of the proposed letter
is attached. I would propose to submit this in my individual capacity, not
as counsel to the Company. I'll wait to hear from you, or from Mark, Vicki
or Rick before doing anything. Thanks. John
John Klauberg
LeBoeuf, Lamb, Greene & MacRae, L.L.P.
212 424-8125
[email protected]
==============================================================================
This e-mail, including attachments, contains information that is confidential
and may be protected by the attorney/client or other privileges. This
e-mail, including attachments, constitutes non-public information intended to
be conveyed only to the designated recipient(s). If you are not an intended
recipient, please delete this e-mail, including attachments, and notify me.
The unauthorized use, dissemination, distribution or reproduction of this
e-mail, including attachments, is prohibited and may be unlawful.
==============================================================================
- wsj-ed.com.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Pursuant to our telephone conversation today, here is the letter we indicated
we would be sending. A signed original is also being sent by regular mail.
- 1166833v2.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Please plan on attend a meeting on Monday, November 5 at 10:00am in conference room EB3125B.
From Rahil:
This meeting is to discuss our contract with VEPCO and the relevant issues surrounding that deal. Dave had requested this meeting when I spoke with him last week, and I've already mentioned this to Kevin, Elizabeth, and Heather. Checked with Richard Sanders' office and his Monday afternoon is fairly open for now.
Pls. call me if you have any questions. I will be traveling, but will have my cell phone and e-mail. You may want to contact Heather if there is some urgent matter.
Thanks in advance,
Rahil
Cell: 281.704.1060
|
{
"pile_set_name": "Enron Emails"
}
|
here is the report for today -- call Frank to get on his distribution list
----- Forwarded by Robert Bruce/NA/Enron on 08/18/2000 11:34 AM -----
Frank Economou
08/18/2000 11:07 AM
To: Elsa Piekielniak/Corp/Enron@Enron, Erin Willis/HOU/ECT@ECT, Aneela
Charania/HOU/ECT@ECT, Matthew Lippert/HOU/ECT@ECT, Robert
Bruce/NA/Enron@Enron, Samantha T Davidson/HOU/ECT@ECT
cc:
Subject: Report
|
{
"pile_set_name": "Enron Emails"
}
|
Start Date: 3/3/01; HourAhead hour: 19; No ancillary schedules awarded.
Variances detected.
Variances detected in Generation schedule.
Variances detected in Energy Import/Export schedule.
Variances detected in Load schedule.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001030319.txt
---- Generation Schedule ----
$$$ Variance found in table tblGEN_SCHEDULE.
Details: (Hour: 19 / Preferred: 11.00 / Final: 4.00)
TRANS_TYPE: FINAL
SC_ID: Wheelabrat
MKT_TYPE: 2
TRANS_DATE: 3/3/01
UNIT_ID: MARTEL_2_AMFOR
---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
Details: (Hour: 19 / Preferred: 75.00 / Final: 71.40)
TRANS_TYPE: FINAL
SC_ID: ECTstNW
MKT_TYPE: 2
TRANS_DATE: 3/3/01
TIE_POINT: SYLMAR_2_NOB
INTERCHG_ID: CISO_EPMI_3000
ENGY_TYPE: FIRM
$$$ Variance found in table tblINTCHG_IMPEXP.
Details: (Hour: 19 / Preferred: 75.00 / Final: 71.57)
TRANS_TYPE: FINAL
SC_ID: ECTltNW
MKT_TYPE: 2
TRANS_DATE: 3/3/01
TIE_POINT: SYLMAR_2_NOB
INTERCHG_ID: CISO_EPMI_6000
ENGY_TYPE: FIRM
---- Load Schedule ----
$$$ Variance found in table tblLoads.
Details: (Hour: 19 / Preferred: 76.69 / Final: 76.51)
TRANS_TYPE: FINAL
LOAD_ID: SCE1
MKT_TYPE: 2
TRANS_DATE: 3/3/01
SC_ID: EPMI
|
{
"pile_set_name": "Enron Emails"
}
|
Hey there everyone.
I just wanted to let you all know that I bought a house, and I will be moving
March 1st. Once I am all settled in, I will have a house warming party for
all of you.
My new address will be:
Elizah Mayham
31369 SW Chia Loop
Wilsonville, OR 97070
My new phone number will be 503-682-8061
Drop me a line :)
|
{
"pile_set_name": "Enron Emails"
}
|
Fine. Everything's crazy at Enron. Just trying to keep my head down.
Thanks,
Jim
-----Original Message-----
From: Landwehr, Susan M.
Sent: Saturday, October 27, 2001 8:01 AM
To: Steffes, James D.
Subject: FW: Conference Call to Prepare for Seattle FERC & CREPC Meetings
Hi Jim. Thanks for copying me on this e mail.
HOw are you? I havn't talked to you in a long time...
-----Original Message-----
From: Landwehr, Susan M.
Sent: Saturday, October 27, 2001 7:56 AM
To: Walton, Steve
Cc: Kaufman, Paul
Subject: FW: Conference Call to Prepare for Seattle FERC & CREPC Meetings
Hi Steve. Are you able to jump on this call? I could if you aren't able I could listen and pass the info on. As is referenced in this e mail, FERC hasn't issued any thing yet on their agenda or schedule.
-----Original Message-----
From: Steffes, James D.
Sent: Friday, October 26, 2001 4:24 PM
To: Walton, Steve; Comnes, Alan; Perrino, Dave; Landwehr, Susan M.; Kaufman, Paul
Subject: FW: Conference Call to Prepare for Seattle FERC & CREPC Meetings
FYI. Steve you may want to be on this call.
Jim
-----Original Message-----
From: "Jackie Gallagher" <[email protected]>@ENRON
Sent: Friday, October 26, 2001 3:03 PM
To: [email protected]; Hawkins, Bernadette; Nersesian, Carin; Nicolay, Christi L.; Fulton, Donna; Scheuer, Janelle; Hartsoe, Joe; Shelk, John; [email protected]; Noske, Linda J.; Robertson, Linda; Alvarez, Ray; Shapiro, Richard; Novosel, Sarah; Mara, Susan; Lindberg, Susan; Hoatson, Tom
Subject: Conference Call to Prepare for Seattle FERC & CREPC Meetings
Erin Perrigo will hold a conference call on Monday, October 29th at 11:00 a.m. EST to discuss the meetings next week in Seattle - the Western Interstate Energy Board's Committee on Regional Electric Power Cooperation (CREPC) (held October 31st - November 1st) and FERC's meeting to discuss Western infrastructure issues (November 2nd).
Attached is a list of questions that are to be considered at the CREPC meeting. To date, we do not have the agenda for the FERC meeting but will send it out when it becomes available. To access the call, dial 1-800-937-6563 and ask for the Erin Perrigo/EPSA call.
- WIEB Is1.doc << File: WIEB Is1.doc >>
|
{
"pile_set_name": "Enron Emails"
}
|
Tom: Which accounts are being transferred to Bear? Are these internal
account numbers? Thanks
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
----- Forwarded by Sara Shackleton/HOU/ECT on 03/27/2001 10:20 AM -----
Sheila Glover
03/08/2001 11:31 AM
To: Sara Shackleton/HOU/ECT@ECT
cc:
Subject: prime broker account numbers
|
{
"pile_set_name": "Enron Emails"
}
|
request_number: DS-WA:016
firstname: Terry Mundorf
lastname: Mundorf
e-mail: [email protected]
exhibit_wp-02-e-: JGC-01, 02
page_numbers:
request_text:
request_text: Please disclose and/or produce any and all communications from
October 16, 2000 to the present, between the BPA representatives listed below
and any representative of any other party concerning BPA's rates to be in
effect for Fiscal Years 2002-2006, the interactions of such rates and
customer contracts, or procedural aspects of these rate proceedings.
Bob Proctor
Tim McCoy
Byrne Lovell
Byron Keep
Valerie Lefler
Jon Wright
Peter Berger
For purposes of this Request, "disclose and/or produce" has the meanings
described below. With respect to oral communications, "disclose and/or
produce" means to describe the time, date, approximate duration, and
substantive content of the communication; the identity and organizational
affiliation of the communicating individuals; whether the communication
occurred in person or by telephone; the location of the communication if in
person; the identity of any witnesses to the communications, including all
individuals in the room if the communication occurred by speakerphone; and
whether the communication was made in the presence of or after coordination
with BPA counsel (if so, identify such counsel). For purposes of this
Request, you need not "disclose and/or produce" oral communications that
occurred during meetings noticed in compliance with Rate Case Rule 1010.7(d).
With respect to written communications, the Request includes communications
in any recorded form, whether on paper, electronic (including, without
limitation, e-mails), or whatever form. For such communications, "disclose
and/or produce" means to provide copies of all non-identical versions of any
written communications and to describe with particularity the location where
such communications were found and/or stored, including the identity of the
individual with possession or control of the written communications; to
describe with particularity the circumstances under which they were generated
or referred to; and to fully "disclose and/or produce" any oral
communications made in connection with the written communications consistent
with the preceding paragraph. For purposes of this Request, you need not
produce papers served on all parties to the rate case and made part of the
official file in the rate case.
response_text:
WPAG objects to this Data Request on the grounds that it (1) seeks
information that is not relevant and (2) seeks information that is unduly
burdensome to produce. (Rules of Procedure Governing Rate Hearings, Section
1010.8(b).) WPAG further objects to this Data Request on the grounds that it
is in improper form, as it does not cite to specific testimony or indicate
the specific use to which to information sought will be put, (Special Rules
of Practice, WP-02-O-01.)and was received after the deadline for submission
of data requests. Without waiving the foregoing objections, we respond as
follows:
See response and exhibits to DS-WA:015.
The following information is from the web server:
1. Logon: IUSR_GRANITE
2. Remote Host: router.millcreeklaw.com
3. Remote IP Address: 204.57.181.3
4. Form URL:
https://secure.bpa.gov/power/secure/psp/ratecase/discovery/wp_02_response.html
5. Browser Client: Mozilla/4.0 (compatible; MSIE 5.01; Windows 95)
|
{
"pile_set_name": "Enron Emails"
}
|
Jeff, thanks for your work on Bob's draft, however, for form management
purposes we are going to continue with our previous style which is to include
the crossborder annexes.
1. Attached below is the ENA/US Annex A, which is the base GTC type of
document that we utilize with our confirmations when we do not have an ISDA
in place (definitions of parties are in the Confirmation). If ENA contracts
with a Canadian party we use the Canadian Annex attachment (also attached
below) to the Confirmation and Annex A. Where ENA contracts with a foreign
counterparty other than Canada, the Canadian Annex may be utilized with
additional legal scrubbing concerning the particular jurisdiction. It is for
this reason that I think we should continue the more amplified approach
rather than targeting it toward just Canada/US.
2. Attached below is the ECC/Canadian Annex A, which is the base GTC type of
document that we utilize with our confirmations when we do not have an ISDA
in place (definitions of parties are in the Confirmation). If ECC contracts
with a US party we use the United States Annex attachment (also attached
below) to the Confirmation and Annex A. Where ECC contracts with a foreign
counterparty other than US, the United States Annex may be utilized with
additional legal scrubbing concerning the particular jurisdiction. It is for
this reason that I think we should continue the more amplified approach
rather than targeting it toward just Canada/US.
At your convenience, please review the Canadian and United States annexes and
advise of any comments. Thanks again.
Note to Paralegals: Please note that the annexes are now under current
forms. If you have any questions about how they are to be utilized, please
stop by to discuss.
Cordially,
Mary Cook
Enron North America Corp.
1400 Smith, 38th Floor, Legal
Houston, Texas 77002-7361
(713) 345-7732 (phone)
(713) 646-3490 (fax)
[email protected]
|
{
"pile_set_name": "Enron Emails"
}
|
Start Date: 4/20/01; HourAhead hour: 10; No ancillary schedules awarded. No
variances detected.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001042010.txt
|
{
"pile_set_name": "Enron Emails"
}
|
Attached are the most current drafts of the Password Application, Terms and
Conditions of Use, and Electronic Transactions Agreement. Each of these
documents is taken from the EOL model, revised as necessary to work for
Clickpaper. In particular (i) the Password Application does not address the
"Master Use"; and (ii) the ETA has an additional section not found in the EOL
ETA (Section 4, which deals with trading on Match).
Please note that while I have discussed these documents with Mark Taylor and
Harry Collins, they are reviewing them at the same time as everyone else, and
may have comments.
The Privacy Policy, which is a short document (1/2 page) will be coming
shortly. Please call me with comments or questions.
Travis McCullough
Enron North America Corp.
1400 Smith Street EB 3817
Houston Texas 77002
Phone: (713) 853-1575
Fax: (713) 646-3490
|
{
"pile_set_name": "Enron Emails"
}
|
Jan Erland has just called me from Oslo, he told me Brent & Bjorn are due
over there next week.
I guess I'm a touch surprised no one told me, as Jan Erland reports to me. He
is Local Office Controller. I'm assuming it will be a 'post-Helsinki' type
review, right? Is there any particular things they/you would like to look at
or discuss?
As you know we operate some of the IBS functions from Oslo and some from
London. I'm happy to discuss this further. Do your people need an
introduction to the operation etc...?
Hope your well, Barry.
|
{
"pile_set_name": "Enron Emails"
}
|
Thanks, we have it wrong in the system.
Debra Perlingiere
Enron North America Corp.
Legal Department
1400 Smith Street, EB 3885
Houston, Texas 77002
[email protected]
Phone 713-853-7658
Fax 713-646-3490
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Richard B Sanders/HOU/ECT on 02/12/2000
07:18 AM ---------------------------
[email protected] on 01/11/2000 01:32:45 PM
To: Richard B Sanders/HOU/ECT@ECT
cc:
Subject: Check out Organic Consumers Association and BioDemocracy works to
save organi
<A HREF="http://www.purefood.org/">Click here: Organic Consumers Association
and BioDemocracy works to save organic standards and label genetically
engineered fo</A>
As we discussed this morning, I'm attaching the Purefood.org website for your
perusal. They really don't seem to be PETA activists at all or "junk"
scientists. I'm sure that you'll see they are simply looking for wholesome
food without dangerous additives, pesticides, etc.
|
{
"pile_set_name": "Enron Emails"
}
|
Attached is a draft press release regarding the completion of AEP's purchase of HPL. This transaction is expected to close today (Friday, June 1) and the release would follow the completion of the deal. Please review and return any comments to me at your earliest convenience.
Eric
|
{
"pile_set_name": "Enron Emails"
}
|
6/1/2001 Fri
Notice: If any clients or potential clients that are getting duplicate e-mails just reply to this, and let us know and we will remove the extra recaps. If anyone feels that they may be
receiving these in error please kindly reply to have you removed from the list and we are sorry for any trouble we caused you.
Here were todays trades
"Swing" S/P full size
B 1257.50 open trade 5/31
s 1261.50 close trade 6/1
+4.0=$1,000.00
----------------------------------------------------------------------------------------------
S 1261.50 open trade 6/1 open equity at close @ 1265.00 "trade still open"
----------------------------------------------------------------------------------------------
E-Mini
B 1257.75 open trade 5/31
s 1261.75 close trade 6/1
+4.0=$200.00
----------------------------------------------------------------------------------------------
S 1261.75 open trade 6/1 open equity at close @ 1265.00 "trade still open"
----------------------------------------------------------------------------------------------
Mini Nasdaq
B 1829.00 open trade 5/31
s 1829.50 close trade 6/1
=break even
----------------------------------------------------------------------------------------------
S 1829.00 open trade 6/1 open equity at close @ 1851.50 "trade still open"
----------------------------------------------------------------------------------------------
No Bonds
Commentary:
Todays price action was a real wild ride early on. Its been a long time since I have seen such a big divergence between to Fed reports in the same day that had such a strong impact on
intra day trend changes. Today we had the Non farm Payroll numbers come in at 4.4 the market was looking for 4.6. Based on this the Bonds sold off and the Equities ran a bit to the
long side. This number was viewed as being bullish and caught a great deal of traders on the wrong side who were looking for the doom and gloom report to be short. However at 9:00 cst
the NAPM numbers showed four straight months in a row on reduced output. These numbers were 42.1 and the market was looking for 43.1. Now this time around the Bonds took off to the
moon on a flight to quality and the Equities sold off very quickly. We did go down to retest and try and take out yesterdays low of 1247.50 but this just proved to be the support area
for the day. The wave players needed to take out 1265.00 yesterday and since they failed, the outlook was now we were going to long term support today. But again the market fooled
everyone and did its job as the best poker player around. We saw our system lifting the stops all day and we did get short late in the session after the last update at 2:30cst.
Where do we go from here? Its tough for us to see a real strong bull run Monday based on todays high at 1267.00 and the close at 3:15cst of 1265.00. We do "think" that there may be
some early am follow through but the numbers that the wave and fib traders were looking for of 1271.00-1280.00 are levels that I am not completely sold on. We are getting data today
thats leaves this open ended. So we are short and we will just play this out until Monday.
We are very pleased that the third week in May recovered all of its pull back in equity since its high of 4/27. We will show all the trade by trade recaps that were ClOSED out in May
on tomorrows E-mail.. On all CLOSED out trades. Thats trades that were entered on 4/27 and closed out in May. Today we stand at +$7,400.00 on #13 trades in the full size and the E-mini
was aprox $1,600.00 on #13 trades. Yes this is, a far cry from last months $35,000 gain in the full size. But for a month that was for the most part side ways all in all it sure is
nothing to be viewed at as a bad trading month.
For those potential clients that are following us one very important aspect of our system is that it feeds on a great deal of data that is transmitted from the cash market. And both
technical and cash data is calculated inorder to confirm trend changes.We have our computer models take a look back every hour on the half hour to re check if any trend changes have
been violated regardless of where the fututes are.
What most of the retail public has is no idea that infact all the large firms both equity's and futures have there own (platforms) and there own (systems). Its been proven that as long
as one has a sound trading methodology that is coded and it can be looked and judged over long time frames, this is the ONLY way to make gains that can show year after year. Human
intervention has created more losses in the futures markets than I care to think of. It never fails that I talk to traders every day who pound there chest on what they did "today" but
whats more important is to look at what one has done over lets say a three year time frame. This is the secret for long term success.
On the E-mail that has been sent out in the last few weeks on the new market starting 8/21/2001 "Single Stock futures" This will be very exciting for us due to the fact that we will be
one of the first firms in the country to offer this new market in a Managed program with the underlying trading methodology stemming from computer based models. The large firms will
have access to this market first then the retail public will begin 12/21/2001. As long as there are no problems that surface with the CFTC and SEC then Dec looks good.
For those of you who are not aware of the back ground of our programmers they have a history in the Futures and Equity side of the industry from institutional firms that are all
computer based with there own trading programs.
Again for those traders who are not aware of this market we will be able to trade futures on single stock issues. For example IBM will have a contract that will have 100 shares in a
contract. And that will have a life of 90 days just like the current four trading contract months per year. For more details on this market see details below.
CBOE Create Joint Venture on Single-Stock Futures World's Two Largest Equity Derivatives Exchanges to Create For-Profit Company CBOT to Join With Limited
Stake CHICAGO, May 14, 2001
- The world's largest options exchange and the largest futures exchange in the U.S. are teaming up to introduce a highly anticipated new product - single-stock futures contracts. The
Chicago Board Options Exchange (CBOE) and Chicago Mercantile Exchange Inc. (CME) today signed a letter of intent to create a joint venture to introduce single-stock futures, following
approval by the boards of directors of both exchanges. The Chicago Board of Trade (CBOT) has also agreed to participate in the joint venture with a limited stake. Legislation signed
into law in December will allow the introduction of single-stock futures by U.S. financial exchanges later this year, after an 18-year prohibition on the products. "Today's
announcement highlights the innovation and entrepreneurial spirit among Chicago's exchanges," said CBOE Chairman and Chief Executive Officer William Brodsky. "This exciting new
initiative combines the best of securities and futures trading. Our willingness to work together on this venture will ensure that Chicago remains the world's center in derivatives
trading and risk management." "The creation of this joint venture recognizes the tremendous synergies of CME and CBOE, making us a formidable competitor in the global marketplace for
single-stock futures," said CME Chairman Scott Gordon. "Our complementary customer bases of retail and institutional investors will benefit from the efforts of all three Chicago
exchanges to establish deep pools of liquidity in these products." "I am enthused that Chicago's exchanges have worked so well together to understand and address our customers' needs
and our members' concerns," said CBOE Vice Chairman Mark Duffy. "We have designed a product that, I believe, will appeal to our customers, and a business structure that will provide
great benefit to our members." "Our largest customers have emphasized the importance of collaboration between the CBOE and CME to combine the capabilities, distribution and
connectivity of the futures and securities worlds," said CME President and Chief Executive Officer Jim McNulty. "This alliance should also provide the highest level of capital
efficiency for our customers who trade in both futures and options." "The CBOT is pleased to work with the leadership of CBOE and CME in this initiative to bring this exciting new
product to our markets," said Nicholas Neubauer Chairman of the Chicago Board of Trade. "The involvement of our members and the access to our customers will make important
contributions to the success of this venture." The joint venture will be a for-profit company, will have its own management and board, and will be separately organized as a regulated
exchange. Single-stock futures will be traded electronically, and orders may be entered through both the new CBOEdirectTM electronic platform and CME's GLOBEX?2 electronic trading
system. CME and CBOE officials said they are engaged in negotiations with the Options Clearing Corporation (OCC), which clears all CBOE transactions, to clear the new products. McNulty
said the negotiations contemplate CME becoming a special clearing member of OCC to provide access for CME clearing members who are not members of the OCC. The exchanges anticipate
contracting with Designated Primary Market-Makers (DPMs) in these products and expect that the board appointed to govern the joint venture will determine the eligibility criteria,
selection process, rights, privileges and duration of such arrangements. Single-stock futures are expected to bring new efficiencies to securities trading, securities lending and
corporate hedging activities. CME and CBOE officials said they also expect to develop rules that would accommodate block trading and exchange-for-physicals (EFPs). The Chicago Board
Options Exchange created and launched the first listed options on stocks in 1973 and the first index options in 1982. Today, CBOE lists options on more than 1,500 stocks and on over 40
indexes, such as the S&P 500, the Dow Jones Industrial AverageSM, the Russell 2000, the Nasdaq-100, and the S&P 100. It remains the world's largest and most successful options
marketplace. Chicago Mercantile Exchange Inc. launched the first successful stock index futures contracts on the S&P 500 in 1982. Today, CME trades futures and futures options on
indexes including the S&P 500, Nasdaq-100, S&P MidCap 400, Russell 2000, FORTUNE e-50? , S&P/BARRA Growth and Value Indexes, and Nikkei 225, as well as its electronically traded E-mini
S&P 500 and E-mini Nasdaq-100 contracts - the fastest growing products in the exchange's history. CME also trades interest rate, foreign currency and agricultural commodity products.
On November 13, 2000, CME demutualized and became a for-profit, shareholder-owned corporation. CBOE is regulated by the Securities and Exchange Commission (SEC). CME is regulated by
the Commodity Futures Trading Commission (CFTC). Additional information about the CBOE and CME can be found at their respective Web sites: www.cboe.com and www.cme.com.
If anyone who would like to chat in more detail on our CTA managed accts please dont hesitate to call me at toll free (800) 773-1713
Thank you
Jerry Jacobs
C.T.A.
IF ANYONE WHO DID NOT GET THE "PDF" FILE ATTACHMENT SHOWING THE TWO AND ONE
HALF YEAR LONG TERM NUMBERS AND FULL CFTC DISCLOSURE DOCUMENT PLEASE E-MAIL
OR CALL TOLL FREE (800) 773-1713 AND WE WILL RESEND IT RIGHT AWAY
RISK DISCLOSURE STATEMENT
THE RISK OF LOSS IN TRADING COMMODITIES CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IN
CONSIDERING WHETHER TO TRADE OR TO AUTHORIZE SOMEONE ELSE TO TRADE FOR YOU, YOU SHOULD BE AWARE OF THE FOLLOWING:
IF YOU PURCHASE A COMMODITY OPTION YOU MAY SUSTAIN A TOTAL LOSS OF THE PREMIUM AND OF ALL TRANSACTION COSTS.
IF YOU PURCHASE OR SELL A COMMODITY FUTURE OR SELL A COMMODITY OPTION YOU MAY SUSTAIN A TOTAL LOSS OF THE INITIAL MARGIN FUNDS AND ANY ADDITIONAL FUNDS THAT YOU DEPOSIT WITH YOUR
BROKER TO ESTABLISH OR MAINTAIN YOUR POSITION. IF THE MARKET MOVES AGAINST YOUR POSITION, YOU MAY BE CALLED UPON BY YOUR BROKER TO DEPOSIT A SUBSTANTIAL AMOUNT OF ADDITIONAL MARGIN
FUNDS, ON SHORT NOTICE, IN ORDER TO MAINTAIN YOUR POSITION. IF YOU DO NOT PROVIDE THE REQUIRED FUNDS WITHIN THE PRESCRIBED TIME, YOUR POSITION MAY BE LIQUIDATED AT A LOSS, AND YOU
WILL BE LIABLE FOR ANY RESULTING DEFICIT IN YOUR ACCOUNT.
UNDER CERTAIN MARKET CONDITIONS, YOU MAY FIND IT DIFFICULT OR IMPOSSIBLE TO LIQUIDATE A POSITION. THIS CAN OCCUR, FOR EXAMPLE, WHEN THE MARKET MAKES A "LIMIT MOVE". THE PLACEMENT OF
CONTINGENT ORDERS BY YOU OR YOUR TRADING ADVISOR, SUCH AS A "STOP-LOSS" OR "STOP-LIMIT" ORDER, WILL NOT NECESSARILY LIMIT YOUR LOSSES TO THE INTENDED AMOUNTS, SINCE MARKET CONDITIONS
MAY MAKE IT IMPOSSIBLE TO EXECUTE SUCH ORDERS.
A "SPREAD" POSITION MAY NOT BE LESS RISKY THAN A SIMPLE "LONG" OR "SHORT" POSITION. THE HIGH DEGREE OF LEVERAGE THAT IS OFTEN OBTAINABLE IN COMMODITY TRADING CAN WORK AGAINST YOU AS
WELL AS FOR YOU. THE USE OF LEVERAGE CAN LEAD TO LARGE LOSSES AS WELL AS GAINS.
IN SOME CASES, MANAGED COMMODITY ACCOUNTS ARE SUBJECT TO SUBSTANTIAL CHARGES FOR MANAGEMENT AND ADVISORY FEES. IT MAY BE NECESSARY FOR THOSE ACCOUNTS THAT ARE SUBJECT TO THESE CHARGES
TO MAKE SUBSTANTIAL TRADING PROFIT TO AVOID DEPLETION OR EXHAUSTION OF THEIR ASSETS. THIS DISCLOSURE DOCUMENT CONTAINS AT PAGE SEVEN A COMPLETE DESCRIPTION OF EACH FEE TO BE CHARGED
TO YOUR ACCOUNT BY THE COMMODITY TRADING ADVISOR.
THIS BRIEF STATEMENT CANNOT DISCLOSE ALL THE RISKS AND OTHER SIGNIFICANT ASPECTS OF THE COMMODITY MARKETS. YOU SHOULD THEREFORE CAREFULLY STUDY THIS DISCLOSURE DOCUMENT AND COMMODITY
TRADING BEFORE YOU TRADE, INCLUDING THE DESCRIPTION OF THE PRINCIPAL RISK FACTORS OF THIS INVESTMENT AT PAGE FIVE.
YOU SHOULD ALSO BE AWARE THAT THIS COMMODITY TRADING ADVISOR MAY ENGAGE IN TRADING FOREIGN FUTURES OR OPTIONS CONTRACTS. TRANSACTIONS ON MARKETS LOCATED OUTSIDE THE UNITED STATES
INCLUDING MARKETS FORMALLY LINKED TO A UNITED STATES MARKET MAY BE SUBJECT TO REGULATIONS WHICH OFFER DIFFERENT OR DIMINISHED PROTECTION. FURTHER, UNITED STATES REGULATORY AUTHORITIES
MAY BE UNABLE TO COMPEL THE ENFORCEMENT OF THE RULES OF REGULATORY AUTHORITIES OR MARKETS IN NON-UNITED STATES JURISDICTIONS WHERE YOUR TRANSACTIONS MAY BE EFFECTED. BEFORE YOU TRADE
YOU SHOULD INQUIRE ABOUT ANY RULES RELEVANT TO YOUR PARTICULAR CONTEMPLATED TRANSACTIONS AND ASK THE FIRM WITH WHICH YOU INTEND TO TRADE FOR DETAILS ABOUT THE TYPES OF REDRESS
AVAILABLE IN BOTH YOUR LOCAL AND OTHER RELEVANT JURISDICTIONS.
THIS COMMODITY TRADING ADVISOR IS PROHIBITED BY LAW FROM ACCEPTING FUNDS IN THE TRADING ADVISOR'S NAME FROM A CLIENT FOR TRADING COMMODITY INTERESTS. YOU MUST PLACE ALL FUNDS FOR
TRADING IN THIS TRADING PROGRAM DIRECTLY WITH A FUTURES COMMISSION MERCHANT.
Global Financial
93 Partridge Dr.
San Rafael Ca. 94901
800 773-1713 fax 415 457-5088
|
{
"pile_set_name": "Enron Emails"
}
|
I just want to clarify something, because we were here until about 9 p.m.
last night trying to flatten our position, and just figured out this morning
that we were off due to the Williams deal that I changed yesterday evening.
Apparently Jeff Richter didn't do any deals with Williams for 50 MW through
APB, but he did do one for 50 MW with Prebon. So I'm wondering why APB was
checking out like this? If possible, I'd like to avoid this in the future.
Let me know if you can find anything out from APB.
Thanks,
Kate
Kerri Thompson@ENRON
01/25/2001 02:48 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: Re: apb checkout
the williams deals with apb at 215.00, should total 150 mw. we are just
missing 25 mw.
Kate Symes @ ECT 01/25/2001 04:40 PM
To: Kerri Thompson/Corp/Enron@ENRON
cc:
Subject: Re: apb checkout
505118 has been changed to 1/26 -1/27. Still checking on missing deal.
Kerri Thompson@ENRON
01/25/2001 02:12 PM
To: Kate Symes/PDX/ECT@ECT
cc:
Subject: apb checkout
505118
term should be 26-27
missing deal just like deal 505118
505223 price should be 300.00
misssing 2 deals for bob, will get details.
thanks
|
{
"pile_set_name": "Enron Emails"
}
|
Hi Eric -
We will begin testing your index today. The description for your index will
read as follows:
"The Index for a day shall be the Daily Midpoint price published on such
calendar day under the heading "Daily Price Survey" in the
East-Houston-Katy, Katy plant tailgate section of Gas Daily, or if a calendar
day is not a Business Day then the price used shall be the Daily Midpoint
price published on the next suceeding Business Day. "
The Product Short Description on the website will be as follows:
US Gas Daily KatyPltTailgate Month/Year USD/MM
Please advise if this does not meet with your approval.
Thanks -
Rob
Enron North America Corp.
From: Eric Bass 11/21/2000 12:48 PM
To: Robert B Cass/HOU/ECT@ECT
cc: Dale Neuner/HOU/ECT@ECT
Subject: New Product
Rob,
I need to get a new gas daily product created. This product will be settled
daily against the Katy Plant Tailgate under the East-Houston-Katy subheading
in Gas Daily.
Call with questions.
Thanks,
Eric
x3-0977
|
{
"pile_set_name": "Enron Emails"
}
|
FYI.
----------------------------------
This e-mail is sent by a law firm and contains information
that may be privileged and confidential. If you are not the
intended recipient, please delete the e-mail and notify us
immediately.
- NYMEX comment.PDF
|
{
"pile_set_name": "Enron Emails"
}
|
I cannot believe you actually e-mailed!!!!! I would love to do lunch. So
far, next week is open. I will inquire about openings here.
dp
|
{
"pile_set_name": "Enron Emails"
}
|
Hi Eric, hope you are well. Do you know about this guy Nathan Hill that Clay
Harris offered a job to work in dubai on dolphin? Please let me know, he
wants to get onl my calendar and hear about the LNG group, etc.
Jeff
|
{
"pile_set_name": "Enron Emails"
}
|
That looks good Torrey. When will it be placed in production?
Thanks,
Jay
-----Original Message-----
From: Moorer, Torrey
Sent: Wednesday, October 31, 2001 8:16 AM
To: Reitmeyer, Jay
Subject: FW: Physical EOL deals bridging to Sitara - Done
fyi...
-----Original Message-----
From: Truong, Dat
Sent: Tuesday, October 30, 2001 5:06 PM
To: Moorer, Torrey
Subject: RE: Physical EOL deals bridging to Sitara - Done
Hello Torrey,
I examined past CIG deals and made code changes to allow default meter 991764500 when Enron sells physical gas. Assuming deals continue to be sent as before, I have results of sample deals production which I tested with; see below. Please test the changes at your earliest convenient. Thanks.
file://o:/_dropbox/sitara/CIG_buy_sell.doc
Dat Truong x 63015
-----Original Message-----
From: Moorer, Torrey
Sent: Monday, October 29, 2001 8:36 AM
To: Truong, Dat
Subject: FW: Physical EOL deals bridging to Sitara
Hi Dat,
As per Jay's request, is it possible to set the SITARA bridge to attach the following two default meter numbers to CIG Mainline deals, depending on whether they are buys or sales (from Enron's perspective)?
Essentially, any deal in which Enron is the seller and the location is at Pipe "CIG" and trade zone "CENTRAL" should have a default meter number of 991764500, while any deal in which Enron is the buyer at the same location should go to meter number UNA-516938.
Since the EOL mapping tables can only support one meter number per location, it would be necessary to set this logic up in the SITARA bridge itself. Is this doable from your end?
Torrey
-----Original Message-----
From: Reitmeyer, Jay
Sent: Thursday, October 25, 2001 2:15 PM
To: Moorer, Torrey
Cc: Truong, Dat
Subject: Physical EOL deals bridging to Sitara
I would like to have all sales of CIG Mainline next day physical gas to bridge over to Sitara under the following meter location:
CIG/Mainline/991764500
and all buys to
CIG/Mainline/UNA-516938
Please let me know what effects (if any) this will have on the bridging process, Sitara, and confirmations.
Thank you,
Jay Reitmeyer
713-853-3536
|
{
"pile_set_name": "Enron Emails"
}
|
Stephanie:
Per my voice mail message, Net Asset Value should be defined as follows:
Net Asset Value means, as of the relevant date of determination, an amount
(expressed in United States Dollars) equal to the sum of Counterparty's total
assets minus Counterparty's total liabilities.
Carol St. Clair
EB 3889
713-853-3989 (Phone)
713-646-3393 (Fax)
[email protected]
|
{
"pile_set_name": "Enron Emails"
}
|
im in
-----Original Message-----
From: McLaughlin Jr., Errol
Sent: Fri 1/11/2002 2:11 PM
To: Love, Phillip M.; Giron, Darron C.; Mills, Bruce; Palmer, B. Scott; Ryder, Patrick; Taylor, Joey; Winfree, O'Neal D.
Cc:
Subject: RE: Phil Let me know if this is ok
I'm in
-----Original Message-----
From: Love, Phillip M.
Sent: Friday, January 11, 2002 1:57 PM
To: Giron, Darron C.; McLaughlin Jr., Errol; Mills, Bruce; Palmer, B. Scott; Ryder, Patrick; Taylor, Joey; Winfree, O'Neal D.
Subject: FW: Phil Let me know if this is ok
Let O'Neal know if you will be in or out so that we can get some fillers.
PL
-----Original Message-----
From: Winfree, O'Neal D.
Sent: Friday, January 11, 2002 12:23 PM
To: Love, Phillip M.
Subject: Phil Let me know if this is ok
Gentlemen,
What: Let's play poker...
Where: The land of Pears
When: Thursday, January 17th -- between 7-8 pm
Directions: No key map so here goes
288 South (please find 288 from Downtown)
Exit McHard/Shadow Creek (hint: it's the first exit after the Beltway 8)
Take a left onto McHard and proceed to the end of McHard
There will be a Conoco at the first Stop sign, the next stop sign will say Country Place
Proceed to the third stop Sign and take a left to The Lakes of Country Place
Go to the Gurard's gate... You will visit 406 Starleaf
Go thru the gate and Take a left on River Birch drive
Starleaf will be the 3rd street on the right...
My house is the 5th house on the left (in the cul de sac)...
address 406 Starleaf Pearland, Tx 77584
phone: 713.436.2992 cell: 832.372.8000
O
|
{
"pile_set_name": "Enron Emails"
}
|
James Scribner is enrolled in Derivatives II - Energy Derivatives Advanced
Structures & Marketing
Class Days and Times:
7/13/2000 08:00:00 PM - 05:00:00 PM
7/14/2000 08:00:00 PM - 05:00:00 PM
Participant Fee: $800.00
Thank you for your support in providing quality and cost effective
development opportunites at Enron.
Your Company and RC will be charged $800.00
If you have any questions, please call the Development Center Team at
713-853-0357.
Thank you.
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by John Arnold/HOU/ECT on 02/13/2001 11:36
AM ---------------------------
Rory McCauley <[email protected]> on 02/12/2001 01:47:46 PM
To: "'[email protected]'" <[email protected]>
cc:
Subject: Enjoy Bud
- Jerky Boys - Prank Call to Chinese Restaurant.mp3
|
{
"pile_set_name": "Enron Emails"
}
|
Hello,
I'm back in the office today. Well I see you have to eat crow! I didn't get a chance to watch the game but I saw CU play Kansas St. and CU looked good. I even think CU has a good chance of beating UT in Austin this weekend.
As far as Petrogulf goes, in the mean time before the great expansion, do they have the right to go to Questar or any other interstate pipeline delivery points. I think they can take their gas in kind at Questar/Bird Canyon, but I'm not sure.
And finally, are you still available for dinner Wednesday night. I just got paid so I'm looking to take you some place nice. Yes, I am bribing you!
Paul
-----Original Message-----
From: Karen L. Taylor [mailto:[email protected]]
Sent: Friday, October 12, 2001 5:48 PM
To: [email protected]
Subject:
Paul,
Once the expansion is completed (in the next couple of months), Petrogulf
will have access to all delivery points off Jonah. They currently don't
have access to Opal. I think that's all the super secret information I can
divulge.
Hope you have a great weekend. I have a small wager with Shari Wojta that
the Fightin' Texas Aggies will Beat the Hell Outta CU tomorrow. Hope I
don't have to eat crow.
See you next week.
kt
|
{
"pile_set_name": "Enron Emails"
}
|
There is some misunderstanding. I still have not received the fax of the
NDA. Did you have it to my attention, Tana Jones, at fax no. 713/636-3490?
David P Dupre
12/19/2000 01:19 PM
To: Tana Jones/HOU/ECT@ECT
cc:
Subject: uipdate
Hi,
When you have an opportunity, please forward this to me by courier or I will
be more than happy
to come by and pick this up.
Thanks again
David
EB3068B
---------------------- Forwarded by David P Dupre/HOU/ECT on 12/19/2000 01:21
PM ---------------------------
Enron Capital & Trade Resources Corp.
From: [email protected] 12/19/2000 09:22 AM
To: [email protected]
cc:
Subject: RE:
Yes,
I faxed it again this AM and already received an e-mail back from Tana
confirming receipt.
Happy Holidays.
Robert
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, December 19, 2000 10:21 AM
To: [email protected]
Subject:
Hi,
Yes, thanks for responding via email.
When you forward to Leslie, let me know so that I may inquire about
receiving a copy from her.
Regards
(Embedded Enron Capital & Trade Resources Corp.
image moved
to file: From: [email protected]
pic08723.pcx) 12/19/2000 09:18 AM
To: [email protected]
cc:
Subject: FW: NDA
Is this why you were calling this AM?
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, December 19, 2000 10:22 AM
To: [email protected]
Subject: RE: NDA
Thanks!
RHarris@Credi
t2B.com To: [email protected],
[email protected]
cc: [email protected],
[email protected]
12/19/2000 Subject: RE: NDA
07:32 AM
Coming down first thing.
-----Original Message-----
From: [email protected] [mailto:[email protected]]
Sent: Monday, December 18, 2000 6:37 PM
To: [email protected]
Cc: [email protected]; [email protected]
Subject: RE: NDA
We do not appear to have received your fax of the NDA. Can you please fax
it to my attention at 713/646-3490 and I will distribute it to the members
of the Enron Team. Thanks!
RHarris@Credi
t2B.com To: [email protected]
cc: [email protected],
[email protected],
12/13/2000 [email protected],
[email protected], [email protected],
02:01 PM [email protected]
Subject: RE: NDA
We are fully executed.
I will fax a copy to your attention and you can distribute to your people
as
needed.
thanks for all your help.
Robert
|
{
"pile_set_name": "Enron Emails"
}
|
Two routine SoCalGas advice letters are summarized on the attachment. Hope you're having a good weekend!
Dan
Law Offices of Daniel W. Douglass
5959 Topanga Canyon Blvd. Suite 244
Woodland Hills, CA 91367
Tel: (818) 596-2201
Fax: (818) 346-6502
[email protected] <mailto:[email protected]>
|
{
"pile_set_name": "Enron Emails"
}
|
I will be leaving the office today at 2:15 to take the kids in for their flu
shots.
Samantha M. Boyd
Sr. Legal Specialist
Enron North America Corp.
1400 Smith, EB3802A
Houston, TX 77002
Phone: (713) 853-9188
Fax: (713) 646-3490
email: [email protected]
__________________
|
{
"pile_set_name": "Enron Emails"
}
|
Shane,
Fine with me.
Vince
"Shane Green" <[email protected]> on 06/22/2000 11:37:31 AM
To: <[email protected]>
cc:
Subject: Sebattical
Dr. Kaminski,
?
Two years would probably be an eternity to the finance department at LSU as
well!? How does one year sound?
?
--Shane
?
|
{
"pile_set_name": "Enron Emails"
}
|
As a follow up to today's Capital Project review meeting, attached below are
the lists of all EOTT vehicles for your review. We discussed leasing the
vehicles in the 2000 Maintenance Budget, and also considering a lease of
vehicles purchased in prior years.
As requested, these lists cover every vehicle of every description owned or
leased by EOTT, including trailers and maintenance equipment. The vehicles
being replaced by new 2000 vehicles are highlighted in the "July 13 Total
Equip List" spreadsheet. Vehicles that may be replaced by Employee Owned
Vehicles are listed in the "2000 Values for EOV Vehicles" spreadsheet.
If this is too confusing, please let me or David Holland help with any
questions you have.
Thanks,
Cutty
----- Forwarded by Cutty Cunningham/Houston/Eott on 07/13/00 05:15 PM -----
David Holland
07/13/00 02:54 PM
To: Cutty Cunningham/Houston/Eott@Eott
cc:
Subject: Vehicle Listings
In respone to your request for vehicle list, I have attahced the following:
Total Tractors and Trailers (July 13 Crude Tractors & Trailers.xls) - This
file has all crude tractors, crude bobtails, crude trailers/pups, and NGL
tractors and trailers included.
Total Other Vehicle List (July 13 Total Equip List.xls) - This file has all
other assets that have tires (cars, pickups, backhoes, forklifts, utility
trailers, pipeline maintenance equipment) Vehicles highlighted in red are
units ordered through PHH that have been received or shipped.
List of Vehicles/Personnel proposed to go to EOV (2000 Values for EOV
Vehicles.xls) - This list contains the personnel and vehicles we proposed to
transition to the EOV Plan (Runzheimer). Every vehicle on this spreadsheet
is included in the July 13 Total Equip List.xls. We have the potential to
reduce EOTT owned vehicles by this amount if all go to Runzheimer.
New vehicles ordered through PHH as part of partnership with Enron and the
Fleet Council (2000 EOTT New Veh Order Status 060100.xls). This has all of
the light utility vehicles we ordered through Enron for delivery in 2000.
|
{
"pile_set_name": "Enron Emails"
}
|
Maybe Michael will go to Quil tomorrow...
--------------------------
Sent from my BlackBerry Wireless Handheld (www.BlackBerry.net)
|
{
"pile_set_name": "Enron Emails"
}
|
Phone cards
|
{
"pile_set_name": "Enron Emails"
}
|
<!-- *********************************************************************
What you are seeing is the Energy Central Daily Gas
News email newsletter in HTML format. In order for
this service to function properly, you must be online
and read your mail through an email client that supports
HTML messages.
If this service is not functioning properly you may switch
to our text format which contains the same news stories.
You can switch your format by visiting Energy Central's
member services. Please follow this link:
http://www.energycentral.com/sections/services/
Then click on E-mail Management. Or send an email to
[email protected] with the subject "Change to text
format".
************************************************************************ -->
<html>
<head>
<title>Energy Central Daily Gas News</title>
</head>
<body bgcolor="#FFFFFF" link="#000099" vlink="#666666" alink="#666666">
<!-- Banner and Logo -->
<table border="0" width="100%">
<tr>
<td align="center">
<a href="http://www.energycentral.com/global/go_ad.cfm?aid=1142&id=http://www.olf.com" target="top">
<img src="http://www.energycentral.com/images/ads/Openlink.gif" border="0" alt="OpenLink Financial"></a>
</td>
</tr>
</table>
<!-- Title -->
<table border="0" width="100%" cellpadding=0 cellspacing=0>
<tr>
<td valign="bottom" align="left">
<img src="http://www.energycentral.com/images/htmlProducts/GasNewsTitle.gif" width="351" height="60">
</td>
<td valign="bottom" align="right">
<a href="http://www.energycentral.com">
<img src="http://www.energycentral.com/images/htmlproducts/ec_final_small.gif" width="60" height="47" border="0">
</a>
</td>
</tr>
</table>
<!-- Menu Bar -->
<table bgcolor="#FFCC00" width=100%><tr><td bgcolor="#FFCC00">
<table width="100%">
<tr>
<td>
<font face="arial,helvetica,sans-serif" size="-2">
<b>
<a href="http://www.energycentral.com">HOME</a> |
<a href="http://www.energycentral.com/sections/gasnews/">GAS NEWS</a> |
<a href="http://www.energycentral.com/sections/events/">EVENTS</a> |
<a href="http://www.energycentral.com/sections/jobs/">JOBS</a> |
<a href="http://www.energycentral.com/sections/buscenters/">BUSINESS CENTERS</a> |
<a href="http://www.energycentral.com/sections/directories/">DIRECTORIES</a> |
<a href="http://www.energycentral.com/sections/datacenter/">DATA CENTER</a>
</b></font>
</td>
<td valign=bottom align=right >
<font face="arial,helvetica,sans-serif" size="-2">
<b>TUESDAY, NOVEMBER 20, 2001</b>
</font>
</td>
</tr>
</table>
</td></tr></table><!-- End Header -->
<!-- Main formating table - BEGIN-->
<p>
<table border="0" width="100%">
<tr>
<td width="3%"> </td> <!-- Main Gutter -->
<td width="75%" valign="top"> <!-- Main text block -->
<table border="0" width="100%">
<tr>
<td valign="top" colspan="2">
<font face="arial,helvetica,sans-serif" size="+1" color="#666666" >
<b>THIS ISSUE BROUGHT TO YOU BY</b></font>
<hr noshade>
</td>
</tr>
<tr>
<td width=10> </td>
<td>
<font size="2" face="helvetica,arial,sans-serif" >
ENERGIZE YOUR CAREER - The Energy Central Job Center has a new look,
new features, premier employers and is updated daily! Visit the energy
industry's largest on-line job center today:
<a href="http://www.energycentral.com/global/go_gas.cfm?aid=336&id=http://www.energycentral.com/sections/jobs">http://www.energycentral.com/sections/jobs</a>
</font>
</td>
</tr>
<tr>
<td><br><br></td>
</tr>
<tr>
<td valign="top" colspan="2">
<font face="arial,helvetica,sans-serif" size="+1" color="666666" >
<a name=top><b>TOP STORIES</b></a></font>
<hr noshade>
</td>
</tr>
<form action="http://www.energycentral.com/sections/gasnews/gn_articles.cfm" method="get" target="blank">
<tr>
<td valign=top><input type="checkbox" name="id" value="2506080"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506080">
<font face="arial,helvetica,sans-serif" size="-1"><b>Conoco, Phillips Petroleum Agree to Merge in $35 Billion Deal</b></font></a><br>
<font size="-1"><i>By Nelson Antosh, Houston Chronicle, Nov. 19</i>
Conoco and Phillips Petroleum have agreed to merge, forming an oil company that will be the third-largest in the United States and the sixth-largest in the world.
</font><br><br>
</td>
</tr>
<form action="http://www.energycentral.com/sections/gasnews/gn_articles.cfm" method="get" target="blank">
<tr>
<td valign=top><input type="checkbox" name="id" value="2508412"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508412">
<font face="arial,helvetica,sans-serif" size="-1"><b>Cash Rockets on Cold Weather Outlooks, Storage Play</b></font></a><br>
<font size="-1"><i>Nov. 19 (Btu's Daily Gas Wire)</i>
Some cold weather felt in parts of the West and forecasts calling for temperatures to drop in the Midwest and East sent next day gas prices soaring 50 to 60 cents on average today, traders said.
<a href="http://www.energycentral.com/sections/offers/special_offer.cfm?id=40"><br>Special Offer from this Publisher!</a>
</font><br><br>
</td>
</tr>
<form action="http://www.energycentral.com/sections/gasnews/gn_articles.cfm" method="get" target="blank">
<tr>
<td valign=top><input type="checkbox" name="id" value="2507773"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507773">
<font face="arial,helvetica,sans-serif" size="-1"><b>Ruhrgas plan casts doubts on import deals </b></font></a><br>
<font size="-1"><i>By Joe Harper, Nov. 19, 2001 (New World Publishing via COMTEX) --</i>
Natural gas import deals signed with Norway and Denmark this year were in doubt last week following an announcement by Germany's Ruhrgas that the government would approve its pipeline project, analysts said.
</font><br><br>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section31">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Press Release</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508420"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508420">
<font face="arial,helvetica,sans-serif" size="-1"><b>POWERWEB AND SAIC SIGN NATIONWIDE DISTRIBUTION AGREEMENT</b></font></a><br>
<font size="-1"><i>Media, PA, November 19, 2001--</i>
Powerweb Technologies, Inc. today announced that is has signed a nationwide Distribution and Joint Marketing Agreement with Science Applications International Corporation (SAIC). This agreement will enable SAIC to market and deploy Powerweb?s Omni-Link Internet Energy Platform, to energy organizations as well as end-use energy customers throughout the United States.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section56">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>National Energy Policy</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507564"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507564">
<font face="arial,helvetica,sans-serif" size="-1"><b>SENATOR PUTS HOUSE ENERGY BILL ON ECONOMIC STIMULUS PACKAGE </b></font></a><br>
<font size="-1"><i>Nov 19, 2001 (Octane Week/PBI Media via COMTEX) -- </i>
The Senate came one step closer to putting energy on the agenda when Sen. Larry Craig (R-Idaho) filed a scaled- down version of the House-passed energy bill, H.R. 4, as an amendment to the economic stimulus package being debated in Congress.
<br><br></font>
</td>
</tr>
<!-- Add 3rd text general ad if it exists. -->
<!-- Don't rerun ads in excessive loops. -->
<tr><td colspan="2"> </td></tr>
<tr>
<td colspan="2" align="center">
<table width="100%" border="0" cellpadding="0" cellspacing="0">
<tr>
<td>
<font face="helvetica,arial,sans-serif" size="1" color="666666">
ADVERTISEMENT
</font>
</td>
</tr>
<tr>
<td>
<table width="100%" border="1" cellpadding="7" cellspacing="0">
<tr bgcolor="ffffcc">
<td>
<font size="-1" face="arial,sans-serif">
Gain the competitive intelligence you need to make informed business
decisions. Energy Central's Operating Plant Experience Code (OPEC) is
a must for all aspects of analyzing nuclear power plant performance.
Identify causes of poor performance, compare lost generation trends,
and set performance criteria! Free trial - visit
<a href="http://www.energycentral.com/global/go_gas.cfm?aid=334&id=http://www.energycentral.com/sections/databases/OPEC">http://www.energycentral.com/sections/databases/OPEC</a>
</font>
</td>
</tr>
</table>
</td>
</tr>
</table>
</td>
</tr>
<tr><td colspan="2"> </td></tr>
<tr>
<td colspan="2">
<a name="section8">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Mergers, Acquisitions & Divestitures</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508346"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508346">
<font face="arial,helvetica,sans-serif" size="-1"><b>Mississippi Valley Gas plans merger with Dallas company</b></font></a><br>
<font size="-1"><i>Nov 19 - The Mississippi Business Journal</i>
Mississippi Valley Gas Company, the largest natural gas utility in Mississippi serving about 261,500 customers in 36 counties in the state, will become a wholly-owned subsidiary of Atmos Energy Corporation if a proposed merger is approved as planned.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508414"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508414">
<font face="arial,helvetica,sans-serif" size="-1"><b>Dynegy's Buying Enron Results in Bitterness, Problems And Support</b></font></a><br>
<font size="-1"><i>Nov. 19 (Utility Spotlight)</i>
The proposed acquisition of Enron by cross-town rival Dynegy has ruffled some feathers of Enron employees, many of whom will lose not only their jobs but also what was once a fortune, now in nearly worthless stock options.
<a href="http://www.energycentral.com/sections/offers/special_offer.cfm?id=18"><br>Special Offer from this Publisher!</a>
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506713"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506713">
<font face="arial,helvetica,sans-serif" size="-1"><b>DSM to sell Energie Beheer Nederland stake to Dutch govt for 1.243 bln eur </b></font></a><br>
<font size="-1"><i>AMSTERDAM, Nov 19, 2001 (AFX-Europe via COMTEX) -- </i>
DSM NV said it will sell its stake in Energie Beheer Nederland to the Dutch government for 1.243 bln eur.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508103"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508103">
<font face="arial,helvetica,sans-serif" size="-1"><b>The Sunday Telegraph: Westlb Makes A Grab for Gbp1bn Wessex Water</b></font></a><br>
<font size="-1"><i>Nov 19, 2001 - FT World Media Abstracts via Comtex</i>
Germany-based bank WestLB is negotiating with US-based energy concern Enron for a possible acquisition of Wessex Water.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section39">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Gas Pricing/Hubs</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506458"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506458">
<font face="arial,helvetica,sans-serif" size="-1"><b>Canadian spot gas recovers from seven-day rout</b></font></a><br>
<font size="-1"><i>CALGARY, Alberta, Nov 19 (Reuters)</i>
Canadian spot natural gas prices jumped across the board on Monday, especially in Alberta, where prices nearly doubled from depressed weekend levels on the strength of higher export demand, traders said.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506461"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506461">
<font face="arial,helvetica,sans-serif" size="-1"><b>U.S. spot gas jumps 23 pct on cold midweek weather</b></font></a><br>
<font size="-1"><i>SAN FRANCISCO, Nov 19 (Reuters)</i>
U.S. spot natural gas prices surged Monday on cold-weather forecasts dealers said were likely to trigger widespread heating demand in the Midwest and Northeast consuming regions.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506467"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506467">
<font face="arial,helvetica,sans-serif" size="-1"><b>NYMEX Hub gas ends higher on weather, short cover</b></font></a><br>
<font size="-1"><i>NEW YORK, Nov 19 (Reuters)</i>
NYMEX Hub gas ended higher Monday after a soft open, lifted by colder midweek weather forecasts and short covering ahead of the long holiday weekend despite a lagging cash market, industry sources said.
<br><br></font>
</td>
</tr>
<!-- Add 3rd text general ad if it exists. -->
<!-- Don't rerun ads in excessive loops. -->
<tr>
<td colspan="2">
<a name="section54">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Production</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507554"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507554">
<font face="arial,helvetica,sans-serif" size="-1"><b>LOWER 48 GAS PRODUCTION STEEPENS ITS FALL IN 3Q </b></font></a><br>
<font size="-1"><i>Nov 19, 2001 (Gas Processors Report/PBI Media via COMTEX) -- </i>
There is perhaps something to be made of the fact that the minute producers stopped hiring so many rigs, gas production fell.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section42">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>LNG</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506681"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506681">
<font face="arial,helvetica,sans-serif" size="-1"><b>PHILLIPS PETROLEUM SAYS NO AGREEMENT TO BACK SHELL'S TIMOR SEA PLANT </b></font></a><br>
<font size="-1"><i>DARWIN, Nov 19, 2001 (AsiaPulse via COMTEX) -- </i>
Phillips Petroleum today denied a report that it had backed Royal Dutch-Shell's $A4 billion ($US2.08 billion) plan to build the world's first floating liquified natural gas (LNG) plant in the Timor Sea.
<br><br></font>
</td>
</tr>
<!-- Add 3rd text general ad if it exists. -->
<!-- Don't rerun ads in excessive loops. -->
<tr>
<td colspan="2">
<a name="section43">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Pipelines</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2505883"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2505883">
<font face="arial,helvetica,sans-serif" size="-1"><b>Energy Companies Work to Get Around Barrier to Alaska Gas Pipeline</b></font></a><br>
<font size="-1"><i>By Liz Ruskin, Anchorage Daily News, Alaska, Nov. 16</i>
A $4 billion financial cloud hanging over the proposed Alaska Highway gas pipeline cleared a little Thursday, when nine energy companies announced they have agreed to come together to settle the problem and pitch a business plan to North Slope natural gas owners.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507930"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507930">
<font face="arial,helvetica,sans-serif" size="-1"><b>Ibama Fines Petrobras US$4mn for Pipeline Error </b></font></a><br>
<font size="-1"><i>Brazil, Nov 19, 2001 (BNamericas.com via COMTEX) -- </i>
Brazil's environment agency Ibama has fined Brazil's federal oil company Petrobras US$4mn (10mn reais) for installing a 4km undersea pipeline to extract natural gas from the Marlim Sul field without the relevant environmental licensing, according to daily newspaper Valor Economico.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508348"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508348">
<font face="arial,helvetica,sans-serif" size="-1"><b>State ponders investment</b></font></a><br>
<font size="-1"><i>Nov 19 - Journal of Alaska Business and Commerce</i>
A citizen committee asked by Gov. Tony Knowles to evaluate possible state investment in a natural gas pipeline has reached a tentative conclusion to advise against the idea, unless there is some compelling and overriding public interest.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508376"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508376">
<font face="arial,helvetica,sans-serif" size="-1"><b>Ukraine pledges not to siphon Russian gas from pipelines</b></font></a><br>
<font size="-1"><i>Nov 19 - ITAR - TASS News Wire</i>
Ukraine has passed legislative acts that confirm its pledge not to siphon natural gas from transit pipelines crossing its territory.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section10">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Rates</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
<!-- Rates -->
<font size="1" face="helvetica,arial,sans-serif">
For more information on rate tariffs visit
<a href="http://www.energycentral.com/sections/tariff/gas/">
Gas Rate Tariffs</a>
<br><img src="http://www.energycentral.com/images/trans.gif" width="1" height="12"><br>
</font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507648"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507648">
<font face="arial,helvetica,sans-serif" size="-1"><b>Court Orders Camuzzi to Freeze Gas Rate Hike </b></font></a><br>
<font size="-1"><i>Argentina, Nov 19, 2001 (BNamericas.com via COMTEX) -- </i>
Argentine judge Jorge Pfleger has ordered gas distributor Camuzzi Gas del Sur to not apply increased gas rates for users in Patagonia until negotiations with the government over subsidy payments are concluded, La Nacion reported.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section1">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>General</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506072"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506072">
<font face="arial,helvetica,sans-serif" size="-1"><b>New Jersey Balks at Increase in Seniors' Heating Aid</b></font></a><br>
<font size="-1"><i>By Herb Jackson, The Record, Hackensack, N.J., Nov. 19</i>
It gives the term "budget freeze" a whole new meaning.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section13">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>New Technologies/Markets</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508321"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508321">
<font face="arial,helvetica,sans-serif" size="-1"><b>Scientists Seek New Energy Sources</b></font></a><br>
<font size="-1"><i>Nov 18 - Associated Press</i>
In Canada's Northwest Territories, where the Mackenzie River empties into the Beaufort Sea, scientists are studying a vast deposit of frozen methane as a potential energy source.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section4">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Financial</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506476"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506476">
<font face="arial,helvetica,sans-serif" size="-1"><b>Congressman urges probe of Andersen on Enron</b></font></a><br>
<font size="-1"><i>WASHINGTON, Nov 19 (Reuters) -</i>
A U.S. Congressman has called for an investigation of Big Five accounting firm Arthur Andersen LLP in connection with its audits of Enron Corp. and Waste Management Inc., according to a letter released on Monday
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506239"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506239">
<font face="arial,helvetica,sans-serif" size="-1"><b>Employees' 401(k) Plans Sink with Enron</b></font></a><br>
<font size="-1"><i>By Jeff Manning, The Oregonian, Portland, Ore., Nov. 16</i>
Enron, the once-mighty energy giant, took millions of dollars of its employees' retirement savings down with it as it collapsed with shocking swiftness during the past month.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506462"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506462">
<font face="arial,helvetica,sans-serif" size="-1"><b>FUND SCORE-Utilities funds may lag in economic recovery</b></font></a><br>
<font size="-1"><i>By Christopher Noble, BOSTON, Nov 19 (Reuters)</i>
Mutual funds that focus on utilities have posted average returns this year, but they may well fall behind more cyclical stocks as the economy recovers in the months ahead, a fund manager said on Monday.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507590"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507590">
<font face="arial,helvetica,sans-serif" size="-1"><b>B.C. GAS FILES SHELF PROSPECTUSES TO SELL DEBT TO CANADIAN INVESTORS </b></font></a><br>
<font size="-1"><i>Nov 19, 2001 (Petroleum Finance Week/PBI Media via COMTEX) -- </i>
B.C. Gas Inc. filed a base shelf prospectus with Canadian regulatory authorities to issue up to C$1 billion of debt or subordinated debt over two years.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507591"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507591">
<font face="arial,helvetica,sans-serif" size="-1"><b>GUARDIAN PIPELINE CLOSES $180 MILLION OF PROJECT FINANCING </b></font></a><br>
<font size="-1"><i>Nov 19, 2001 (Petroleum Finance Week/PBI Media via COMTEX) -- </i>
Guardian Pipeline closed $180 million of project financing that was arranged by Prudential Capital Group.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section30">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>Financial - Results</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507758"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507758">
<font face="arial,helvetica,sans-serif" size="-1"><b>MOL posts losses, receives bids for gas division </b></font></a><br>
<font size="-1"><i>By Dan Nashaat, Nov 19, 2001 (New World Publishing via COMTEX) -- </i>
Hungarian oil and gas company MOL Rt posted losses of Ft 14.29 billion ($51 million) in the first nine months, compared with profits of Ft 23.06 billion over the corresponding period of 2000.
<br><br></font>
</td>
</tr>
<tr>
<td colspan="2">
<a name="section3">
<font face="arial,helvetica,sans-serif" size=4 color="#666666">
<b>International</b>
</font>
<hr noshade>
</a>
<!-- Add link based on topic id -->
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507195"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507195">
<font face="arial,helvetica,sans-serif" size="-1"><b>Lithuanian Gas Privatisation Launched </b></font></a><br>
<font size="-1"><i>FRANCE, Nov 19, 2001 (Prline via COMTEX) -- </i>
The Government of Lithuania and its Adviser, BNP Paribas Corporate Finance, have launched the privatisation of the Lietuvos dujos (Lithuanian Gas) company.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508100"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508100">
<font face="arial,helvetica,sans-serif" size="-1"><b>Gas Problem Settled with Ukraine - Putin</b></font></a><br>
<font size="-1"><i>Nov 19, 2001 - Itar-Tass News Agency</i>
Large work carried out by Russia and Ukraine over the past 18 months in the gas sphere has been completed.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508106"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508106">
<font face="arial,helvetica,sans-serif" size="-1"><b>LA Tribune: Gdf on The Advance in Mexico</b></font></a><br>
<font size="-1"><i>Nov 19, 2001 - FT World Media Abstracts via Comtex</i>
French gas distributor Gaz de France (GDF) is to invest at least $500m (568.2m euros) in Mexico over the next five years, according to Gerard Mallet, director of the group's Mexican subsidiary.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508138"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508138">
<font face="arial,helvetica,sans-serif" size="-1"><b>Bolivian And Peruvian Authorities Discuss Gas Projects to Avoid Competition</b></font></a><br>
<font size="-1"><i>Nov 19, 2001 - South American Business Information</i>
The Peruvian Ministry of Mines and Power informed that Bolivian authorities will come to Peru soon in order to discuss the gas projects that will be developed by both countries, so as to avoid competition between them.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508219"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508219">
<font face="arial,helvetica,sans-serif" size="-1"><b>Brazil : BR Invests R$12mil at Espirito Santo</b></font></a><br>
<font size="-1"><i>Nov 19, 2001 - South American Business Information</i>
The growth of natural gas market at Espirito Santo state stimulated the BR Distribuidora to expand its investment in the region in 2002.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508278"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508278">
<font face="arial,helvetica,sans-serif" size="-1"><b>Dark Clouds Threaten Sunrise Gas Partners</b></font></a><br>
<font size="-1"><i>Nov 19, 2001 - Australasian Business Intelligence</i>
Further tensions between the partners in the Sunrise gas reservoir development were revealed on 19 November 2001.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2506536"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2506536">
<font face="arial,helvetica,sans-serif" size="-1"><b>ENI plans to be 'supermajor' oil co via acquisitions, increased output </b></font></a><br>
<font size="-1"><i>MILAN, Nov 18, 2001 (AFX-Europe via COMTEX) -- </i>
ENI SpA plans to become "a supermajor" oil company via acquisitions and increased exploration activities, said chief executive Vittorio Mincato in Il Sole 24 Ore's Saturday edition.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2507760"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2507760">
<font face="arial,helvetica,sans-serif" size="-1"><b>The gas giant Gazprom: Not interested in Nova </b></font></a><br>
<font size="-1"><i>Nov 19, 2001 (New World Publishing via COMTEX) -- </i>
The Russian gas giant Gazprom denies it would be interested in investing to TV Nova.
<br><br></font>
</td>
</tr>
<tr>
<td valign=top><input type="checkbox" name="id" value="2508377"></td>
<td>
<a href="http://www.energycentral.com/sections/gasnews/gn_article.cfm?id=2508377">
<font face="arial,helvetica,sans-serif" size="-1"><b>Gazprom to take part in privatization of Slovak Gas Company</b></font></a><br>
<font size="-1"><i>Nov 19 - ITAR - TASS News Wire</i>
Gazprom head Alexei Miller and Slovak Privatization Minister Maria Machova have agreed on the participation of Russia's Gazprom gas giant in the privatization of the Slovak Gas Company, the Gazprom press service told Itar-Tass on Tuesday.
<br><br></font>
</td>
</tr>
<tr>
<td colspan=2>
<table border=0 width=100% cellpadding=5>
<tr>
<td align="center">
<hr noshade>
<font size="-1">
If you are an Energy Central News Subscriber and you have checked any news articles above, selecting the 'Get Articles' button below will deliver all of the checked articles in one page. This is a convenient way to get exactly the news you need - quickly!<P>
</font>
</td>
</tr>
<tr>
<td align="center">
<input type="image" src="http://www.energycentral.com/images/buttons/getarticles.gif" name=search><br>
<br><br>
</td>
</tr>
</table>
</form>
</td>
</tr>
<tr>
<td colspan=2>
<p>
<font face="arial,helvetica,sans-serif" size="+1" color="#666666" >
<b>NEED INFORMATION ON THE POWER INDUSTRY? ENERGY CENTRAL?S GOT IT!</b>
</font>
<hr noshade>
<font size=-1>
<a href="http://www.energycentral.com/sections/newsroom/">ENERGY CENTRAL DAILY ELECTRIC POWER NEWS</a>
<br>
An e-mail news service that delivers every major story every
day directly to your e-mail address. Inquire for corporate and group discount rates.
<a href="mailto:[email protected]">[email protected]</a><p>
<a href="http://www.energycentral.com/sections/jobs/">JOB CENTER</a><br>
The Job Center provides instant access to the best employment opportunities and prospective
employees in the energy industry through comprehensive job listings and active resume database.<p>
<a href="http://www.energycentral.com/sections/jobs/default.cfm?cpane=11306">JOB WATCH</a><br>
A free weekly e-mail service that broadcasts new job listings in the Job Center
directly to your inbox!<p>
<a href="http://www.energycentral.com/sections/events/">
CONFERENCE WATCH</a><br>
The Conference Watch is a weekly e-mail service and online database that lists
upcoming industry conferences, seminars, and trade shows. The service is free
to all energy professionals.<p>
<a href="http://www.energycentral.com/sections/datacenter/">
DATA CENTER</a><br>
Energy Central partners with the best research, publishing, and consulting firms to create
useful online database applications. Visit the Data Center to gain immediate access
to online databases and instant reports.<p>
<font face="arial,helvetica,sans-serif" size="+1" color="#666666" >
<b>DIRECTIONS AND INFORMATION</b></font>
<hr noshade>
ABOUT ENERGY CENTRAL'S GAS NEWS SERVICE<br>
This news summary service is provided FREE to qualified
professionals in the power industry. This news summary may
be redistributed provided it is kept in its entirety.
<p>
* Visit <a href="http://www.energycentral.com/sections/services">Member Services</a> to START, STOP, or CHANGE FORMAT for all
of your e-mail subscriptions.<p>
* To BEGIN receiving this summary directly, send
a message with a subject of 'signup' to <A HREF=MAILTO:[email protected]>[email protected]</a>.
<p>
* To STOP receiving this service, send a message to
<A HREF=MAILTO:[email protected]>[email protected]</a> or call Member Services at 303-782-5510.
<p>
SUBSCRIPTION INFORMATION<br>
The full text of articles referenced in this summary is available to
Energy Central Gas News Subscribers and Members. An individual annual
subscription costs US$15.95 per month. To sign up for an individual
subscription, or for information about corporate discounts, call
CyberTech at 800-459-2233, 303-782-5510, or send an e-mail message to
<A HREF=MAILTO:[email protected]>[email protected]</a>.
<p>
PRESS RELEASES<br>
Submit press releases and other news to <A HREF=MAILTO:[email protected]>[email protected]</a>
<p>
SPONSORSHIP AND ADVERTISING<br>
For sponsorship or advertising info call sales at 303-782-5510
<p>
TO DELIVER YOUR ARTICLES, PAPERS, PROCEEDINGS OR MONOGRAPHS THROUGH
ENERGY CENTRAL:<br>
Energy Central provides a variety of mechanisms for delivery of
information to power professionals including this news
product, Energy Central Web Site (<a href="http://www.energycentral.com">http://www.energycentral.com</a>),
Energy Central Conference Watch(tm),
and others. We can deliver your information on a promotional,
subscription or a pay-per-view basis.
For more information, contact Steve Drazga at 303-782-5510
(<A HREF=MAILTO:[email protected]>[email protected]</a>)
<p>
</font>
</td>
</tr>
</table>
</td>
<td width="4%"> </td> <!-- Main gutter -->
<td width="18%" valign="top">
<table border="0" width="100%" cellpadding="3" bgcolor="ffffff">
<tr>
<td align="left" bgcolor="#000000" colspan="3">
<font face="arial,helvetica,sans-serif" size="-2" color="#FFCC00" >
<b> SUBSCRIBE</b>
</font>
</td>
</tr>
<tr>
<td width="5%"> </td>
<td>
<font face="arial,helvetica,sans-serif" size="-2" color="#666666" >
Full text access to daily news articles is limited to Energy Central
<a href="http://www.energycentral.com/sections/gasnews/gn_subscribe.cfm">Gas News Subscribers</A>.<br>
</font>
</td>
<td width="5%"> </td>
</tr>
</table>
<p>
<table border="0" width="100%" cellpadding="3">
<tr>
<td align="left" bgcolor="#000000" colspan="3">
<font face="arial,helvetica,sans-serif" size="-2" color="#FFCC00" >
<b><nobr> CORPORATE SPONSORS</nobr></b>
</font>
</tr>
<tr>
<td width="1%"><img src="http://www.energycentral.com/images/trans.gif" height="1" width="1" border="0"</td>
<td>
<font face="arial,helvetica,sans-serif" size="-2" color="#666666">
Click on each logo to visit sponsor.
</font>
</td>
<td width="1%"><img src="http://www.energycentral.com/images/trans.gif" height="1" width="1" border="0"</td>
</tr>
<tr><!-- Sponsors -->
<td valign="top" align="center" colspan="3">
<font face="arial,helvetica,sans-serif" size="-2" color="#666666" >
<a href="http://www.energycentral.com/global/go_sponsor.cfm?aid=1245&id=http://www.itron.com" target="top">
<img src="http://www.energycentral.com/images/ads/Itron150x40.gif" width="150" height="40" border="0" alt="Itron">
<br>
</a>
<img src="http://www.energycentral.com/images/trans.gif" height="5" width="1" border="0"><br>
<a href="http://www.energycentral.com/global/go_sponsor.cfm?aid=1075&id=http://www.allegrodevelopment.com" target="top">
<img src="http://www.energycentral.com/images/ads/AllegroLogo150x40.gif" width="150" height="40" border="0" alt="Allegro Development">
<br>
</a>
<img src="http://www.energycentral.com/images/trans.gif" height="5" width="1" border="0"><br>
</font>
</td>
</tr>
</table>
<p>
<table border="0" width="100%" cellpadding="3">
<tr>
<td align=left bgcolor="#000000">
<font face="arial,helvetica,sans-serif" size="-2" color="#FFCC00" >
<b> NEWS SECTIONS</b>
</font>
</td>
</tr>
<tr>
<td valign="top" align="left"><nobr>
<font face="arial,helvetica,sans-serif" size="-3" color="#666666" >
<a href="#top">Top Stories</a><br>
<a href=#section31>Press Release</a><br>
<a href=#section56>National Energy Policy</a><br>
<a href=#section8>Mergers, Acquisitions & Divestitures</a><br>
<a href=#section39>Gas Pricing/Hubs</a><br>
<a href=#section54>Production</a><br>
<a href=#section42>LNG</a><br>
<a href=#section43>Pipelines</a><br>
<a href=#section10>Rates</a><br>
<a href=#section1>General</a><br>
<a href=#section13>New Technologies/Markets</a><br>
<a href=#section4>Financial</a><br>
<a href=#section30>Financial - Results</a><br>
<a href=#section3>International</a><br>
</font></nobr>
</td>
</tr>
</table>
<p>
<table border="0" width="100%" cellpadding="3" bgcolor="ffffff">
<tr>
<td align="left" bgcolor="#000000" colspan="3">
<font face="arial,helvetica,sans-serif" size="-2" color="#FFCC00" >
<b> ADVERTISEMENT</b>
</font>
</tr>
<tr>
<td align="center">
<a href="http://www.energycentral.com/global/go_ad.cfm?aid=1215&id=http://www.energynewslive.com" target="top">
<img src="http://www.energycentral.com/images/ads/williams140x600.gif" border="0" alt="Williams Energy"></a>
</td>
</tr>
</table>
<p>
<table border="0" width="100%" cellpadding="3">
<tr>
<td align=left bgcolor="#000000" colspan="3">
<font face="arial,helvetica,sans-serif" size="-2" color="#FFCC00" >
<b> NEWS SEARCH</b>
</font>
</td>
</tr>
<tr>
<td width="5%"> </td>
<td>
<form action="http://www.energycentral.com/sections/gasnews/gn_search.cfm" target="" method="post">
<font face="arial,helvetica,sans-serif" size="-2" color="#666666" >
Find Energy Central Gas News stories up to 30 days old.<br>
<input style="font-face:9pt;" type="text" size="15" maxlength="50" name="terms">
<input style="font-face:9pt;" type="image" src="http://www.energycentral.com/images/buttons/go.gif" name="search" value="search"><br>
</td>
<td width="5%"> </td>
</tr>
</table>
<p>
<p>
<table border="0" width="100%" cellpadding="3">
<tr>
<td align=left bgcolor="#000000" colspan="3">
<font face="arial,helvetica,sans-serif" size="-2" color="#FFCC00" >
<b> ENERGY CENTRAL</b>
</font>
</td>
</tr>
<tr>
<td width="5%"> </td>
<td><nobr>
<font face="arial,helvetica,sans-serif" size="-3" color="#666666" >
<a href="http://www.energycentral.com/" target="_top">Home</a><br><a href="http://www.energycentral.com/sections/centers/" target="_top">News Centers</a><br> <a href="http://www.energycentral.com/sections/ecdirect/" target="_top">Energy Central Direct</a> <font color="#990000"><i>New!</i></font><br>
<a href="http://www.energycentral.com/sections/newsroom/" target="_top">Power News</a><br>
<a href="http://www.energycentral.com/sections/gasnews/" target="_top">Gas News</a><br>
<a href="http://www.energycentral.com/sections/weekly/" target="_top">Weekly News Wrap-Up</a> <font color="#990000"><i>New!</i></font><br>
<a href="http://www.energycentral.com/sections/events/" target="_top">Events Center</a><br><a href="http://www.energycentral.com/sections/jobs/" target="_top">Job Center</a><br><a href="http://www.energycentral.com/sections/datacenter/" target="_top">Data Center</a><br><a href="http://www.energycentral.com/sections/buscenters/" target="_top">Business Centers</a><br><a href="http://www.energycentral.com/sections/publications/" target="_top">On-line Publications</a> <font color="#990000"><i>New!</i></font><br><a href="http://www.energycentral.com/sections/research/" target="_top">Research Report Center</a> <font color="#990000"><i>New!</i></font><br><a href="http://www.energycentral.com/sections/directories/" target="_top">Directories</a><br> <a href="http://www.energycentral.com/sections/directories/associations/" target="_top">Associations</a><br>
<a href="http://www.energycentral.com/sections/directories/pucs/" target="_top">State PUCs</a><br>
<a href="http://www.energycentral.com/sections/directories/periodicals/" target="_top">Trade Publications</a><br>
<a href="http://www.energycentral.com/sections/industry" target="_top">Industry</a><br> <a href="http://www.energycentral.com/sections/directories/glossary/" target="_top">Glossary</a><br>
<a href="http://www.energycentral.com/sections/directories/links/" target="_top">Links</a><br>
<a href="http://www.energycentral.com/sections/services/" target="_top">Member Services</a><br><a href="http://www.energycentral.com/sections/about/" target="_top">About Energy Central</a><br> <a href="http://www.energycentral.com/sections/marketplace/" target="_top">Our Products</a><br>
<a href="http://www.energycentral.com/sections/syndication/" target="_top">Content Syndication</a> <font color="#990000"><i>New!</i></font><br>
</font></nobr>
</td>
<td width="5%"> </td>
</tr>
</table>
<img src="http://www.energycentral.com/images/trans.gif" width="1" height="400" alt="" border="0"><br>
</td>
</tr>
</table>
<!-- END main formating table -->
<center>
<img src="http://log.energycentral.com/global/email_track.cfm?id=10001" width="1" height="1">
</center>
<table bgcolor ="#FFCC00" width="100%"><tr><td bgcolor="#FFCC00">
<table width="100%">
<tr>
<td>
<font face="arial,helvetica,sans-serif" size="-2" color="#666666">
<b>
<a href="http://www.energycentral.com">HOME</a> |
<a href="http://www.energycentral.com/sections/gasnews/">GAS NEWS</a> |
<a href="http://www.energycentral.com/sections/events/">EVENTS</a> |
<a href="http://www.energycentral.com/sections/jobs/">JOBS</a> |
<a href="http://www.energycentral.com/sections/buscenters/">BUSINESS CENTERS</a> |
<a href="http://www.energycentral.com/sections/directories/">DIRECTORIES</a> |
<a href="http://www.energycentral.com/sections/datacenter/">DATA CENTER</a>
</b></font>
</td>
</tr>
</table>
</td></tr></table>
<table border="0" width="100%">
<tr>
<td width="3%"> </td>
<td width="70%" valign="top">
<table border="0" width="100%">
<tr>
<td>
<font face="arial,helvetica,sans-serif" size="-3" color="#666666">
Copyright © <A HREF="http://www.energycentral.com/sections/about/default.cfm" target="_top">CyberTech, Inc.</A> 2001. All rights reserved. <BR> Energy Central(r) is a registered trademark of CyberTech, Incorporated.
<BR>CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech
be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or
inability to use Energy Central. Contact: 303-782-5510 or <A HREF=MAILTO:[email protected]>[email protected]</A>.
</FONT><br><br>
</td>
</tr>
</table>
</td>
<td width="27%"> </td>
</tr>
</table>
</body>
</html>
|
{
"pile_set_name": "Enron Emails"
}
|
Here's what happened.
---------------------- Forwarded by Darron C Giron/HOU/ECT on 10/30/2000
10:11 AM ---------------------------
Enron North America Corp.
From: Kam Keiser 10/30/2000 08:53 AM
To: William Kelly/HOU/ECT@ECT, David Baumbach/HOU/ECT@ECT, Darron C
Giron/HOU/ECT@ECT, Jeffrey C Gossett/HOU/ECT@ECT
cc: Victor Guggenheim/HOU/ECT@ECT, Jackson Logan/HOU/ECT@ECT, Phillip M
Love/HOU/ECT@ECT, Souad Mahmassani/Corp/Enron@ENRON, B Scott
Palmer/HOU/ECT@ECT
Subject:
I spoke with Bill K. about the TDS positions problems we had this morning.
They had to take TDS down this weekend and when it was brought back up all
the positions were reloaded.
He thinks the new TDS portcalc will be ready to go later this week which will
prevent this from happening again.
Kam
|
{
"pile_set_name": "Enron Emails"
}
|
Attached is the close to final documentation evidencing the 2 trades we've just made with Bear Stearns International. We anticipate signing these either later today or tomorrow.
-----Original Message-----
From: Froom, Ilene (Exchange) [mailto:[email protected]]
Sent: Friday, October 12, 2001 5:25 PM
To: Melman, Gil M.
Cc: Cooke, Peter Confidential Memo-Counsel (Exchange); Guinchard, Claude
(Exchange)
Subject: RE: Revised Documentation
Gil:
Please see the revised documentation.
Thank you.
Ilene
<<Enron VWAPtion 101201.pdf>> <<Enron Forward 101201.pdf>>
> -----Original Message-----
> From: Froom, Ilene (Exchange)
> Sent: Friday, October 12, 2001 11:09 AM
> To: '[email protected]'
> Cc: Cooke, Peter Confidential Memo-Counsel (Exchange); Guinchard, Claude
> (Exchange)
> Subject: Revised Documentation
>
> Gil:
>
> Attached are the revised documents. There are two versions of each, a
> redlined copy and a clean copy.
>
> Regards,
>
> Ilene Froom
>
>
> << File: Enron Forward Clean.pdf >> << File: NY14468 Enron North America
> Corp.mark-up.pdf >> << File: NY14468 Enron VWAPtion.mark-up.pdf >> <<
> File: Enron VWAPtion Clean.pdf >>
|
{
"pile_set_name": "Enron Emails"
}
|
Premiums Stay High on Enron's Near Options, And `Doubling Up' Date Looms for Tax Losses
The Wall Street Journal, 11/23/01
Dynegy Deal To Buy Enron Hits Crossroads
The Wall Street Journal, 11/23/01
Enron Faces Suits by 401(k) Plan Participants
The Wall Street Journal, 11/23/01
From Sunbeam to Enron, Andersen's Reputation Suffers
The New York Times, 11/23/01
Chase and J. P. Morgan's Paper Anniversary
A Year After the Merger, Rosy Plans Meet Reality
The New York Times, 11/23/01
COMPANIES & FINANCE THE AMERICAS - Enron 'awaiting' capital injections, say officials.
Financial Times, 11/23/01
USA: UPDATE 2-Enron bleeds again as Dynegy deal doubts grow.
Reuters English News Service, 11/23/01
USA: Enron avoids junk status, but observers wonder how.
Reuters English News Service, 11/23/01
USA: US Corp Bonds-Enron slips again in quiet market.
Reuters English News Service, 11/23/01
USA: Enron shares seesaw on concerns over Dynegy deal.
Reuters English News Service, 11/23/01
TALES OF THE TAPE: Energy Traders' Perfect Storm Stalls
Dow Jones News Service, 11/23/01
U.S. Energy Exhange May Scrap Online Platform Plans
Dow Jones Energy Service, 11/23/01
Enron Woes May Endanger Plans For Mozambique Steel Proj
Dow Jones International News, 11/23/01
STOCKWATCH Enron down, Dynegy up on lingering merger uncertainty
AFX News, 11/23/01
USA: Houston economy seen weathering major layoffs.
Reuters English News Service, 11/23/01
Dabhol Pwr Confirms Arbitrator Panel Mtg In Singapore Sat
Dow Jones International News, 11/23/01
Enron SEC filing contained information Dynegy was unaware of - report
AFX News, 11/23/01
Dynegy's Decision to Buy Enron Hits Crossroads Amid Rising Financial Woes
Dow Jones Business News, 11/23/01
Employees' Lawuit Says Enron Hurt Retirement Funds Courts: The suit claims the energy firm urged workers to invest in company stock just before it plunged.
Los Angeles Times, 11/23/01
Portland utility's fate tied to Enron's future
The Seattle Times, 11/23/01
Enron Shares and Bonds Fall on Concern About Takeover (Update5)
Bloomberg, 11/23/01
KKR, Blackstone Are Among Likely Enron Investors, Analyst Says
Bloomberg, 11/23/01
Microsoft MSN Fast Web Access Expansion Slowed by Enron Suit
Bloomberg, 11/23/01
Options Report
Premiums Stay High on Enron's Near Options, And `Doubling Up' Date Looms for Tax Losses
By Kopin Tan
Dow Jones Newswires
11/23/2001
The Wall Street Journal
C11
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -- Volatility and premiums on Enron's near-month options remain extremely high. It is a sign that investors are willing to pay a rich price for option protection and expect the stock to be unsettled as the Houston company sorts through its credit and debt problems and seeks to calm frazzled investors.
Enron near-month defensive puts traded heavily in an otherwise quiet session Wednesday, as investors bought them to hedge. The December 5 puts traded more than 10,000 contracts and jumped 45 cents to $1.10 at the Chicago Board Options Exchange. The stock closed down $1.98, or 28%, to $5.01, as of 4 p.m. in New York Stock Exchange composite trading.
Enron's calls traded actively as some investors sold them to generate income. Traders noted some call buying -- especially after Enron procured a three-week extension on a $690 million note -- as some hopeful investors bet on Enron pulling through its troubles and proceeding with its merger with Dynegy Inc. Enron's December 5 calls traded more than 14,500 contracts, compared with open interest of 710, as they fell $1.45 to $1.15 at the CBOE.
For investors who want to book a tax loss on beaten-down stocks, the "wash sale" rule can be a hurdle, because it essentially prevents taxpayers from selling stock or securities at a loss and then reacquiring "substantially identical" securities within a 30-day period before or after that loss. This poses a problem for those who want to book a loss yet own stocks whose prices now make them attractive "buy" candidates.
In addition, the Internal Revenue Service has taken the position that the wash-sale rule will disallow a loss if the investor sells an in-the-money put, because there is a strong likelihood that stock will be put to or acquired by the investor.
So investors typically get around the wash-sale rule by "doubling up": buying additional stock or options, waiting at least 31 days, and then selling the original stock to book the loss. Investors double up by buying calls, which locks a price to buy stock and achieves the same effect as buying additional stock.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Dynegy Deal To Buy Enron Hits Crossroads
By Rebecca Smith and John R. Emshwiller
Staff Reporters of The Wall Street Journal
11/23/2001
The Wall Street Journal
A3
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Even as it reiterated its intention to purchase Enron Corp., Dynegy Inc. is coming under increasing pressure to renegotiate or walk away from the multibillion-dollar deal.
The pressure is stemming from the continuing slide in the price of Enron shares and the mounting financial problems at the Houston energy-trading company, the nation's biggest marketer of electricity and natural gas. During the past month, Enron has taken a $1 billion write-off of assets, revised downward the earnings of the past several years and taken a $1.2 billion reduction in shareholder equity.
The problems have been due largely to dealings Enron had with private partnerships, run by some of its own executives, under investigation by the Securities and Exchange Commission. In an SEC filing Monday, Enron disclosed hundreds of millions of potential additional write-offs as well as the possibility that its weakening financial condition could force it to repay more than $2 billion in loans by the end of the year.
As of 4 p.m. Wednesday in New York Stock Exchange composite trading, Enron shares fell $1.98, or 28%, to $5.01 each after having dropped 23% Tuesday. In excess of 115 million shares traded Wednesday, more than four times the volume of any other Big Board stock. Enron's bonds also again traded sharply lower, market observers said.
The turmoil spilled over to Dynegy's stock, which also was among the most actively traded on the New York Stock Exchange. As of 4 p.m. Wednesday, Dynegy shares fell $1.94 to $39.76 each.
On Wednesday, Dynegy issued a statement in which Chairman and Chief Executive Chuck Watson said his company was working "to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement" though it continued to perform "due diligence" on Enron.
Under the merger agreement, Dynegy has opportunities to renegotiate or walk away from the deal if Enron's financial and legal problems become severe enough. However, some observers said it can be difficult to invoke these so-called material adverse change clauses. They point to a decision earlier this year by a Delaware Chancery Court judge who forced Tyson Foods Inc. to complete a planned purchase of IBP Inc. even though Tyson, a Springdale, Ark., food-products company, had wanted to cancel the transaction because of a drop in IBP's earnings and accounting problems at an IBP unit.
Dynegy officials didn't return calls seeking comment. To complete the deal, two-thirds of Dynegy shareholders and a majority of Enron shareholders would have to give their approval. No dates for those votes have been set.
One person familiar with the merger plans said the SEC filing Monday by Enron contained information Dynegy hadn't known about. Dynegy representatives planned to work through the weekend evaluating the importance of this new information as part of the company's due diligence, this person said. It couldn't be determined what the new information was.
The merger agreement, announced Nov. 9, calls for Dynegy to exchange 0.2685 share for each of Enron's roughly 850 million fully diluted shares, giving the purchase a value of about $9 billion at Dynegy's current stock price. However, from a price standpoint, the deal is appearing less attractive to Dynegy.
On the day of the merger announcement, Enron shares were trading at about $8.63 each, or about 83% of the purchase price under the exchange ratio. As of Wednesday, Enron's market price was only about 47% of the merger-formula price. Such a sharp deterioration is unusual following a merger announcement, when the stock price of the company being acquired generally begins trading relatively close to the offering price.
Sentiment among Wall Street analysts also is turning against the merger. Initially, many analysts lauded the merger as a move that would rescue Enron and provide a major boost to Houston-based Dynegy. Dynegy and Enron officials have predicted that the merger, supposed to be completed late next year, would significantly and immediately increase Dynegy's earnings.
Now analysts are challenging that assumption. Ron Barone, managing director at UBS Warburg LLC, said he believes that because of Enron's financial problems, a combined company would actually have lower earnings next year than Dynegy would have by itself. Mr. Barone said he thinks a "likely scenario" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share.
Such a ratcheting down wouldn't be without precedent in the deal. According to one person familiar with the merger negotiations, Dynegy reduced the exchange formula at least once prior to the Nov. 9 announcement because of Enron's rapidly sinking stock price, which at the beginning of this year was above $80 a share.
In perhaps the most significant sign of the turning tide on Wall Street, Goldman Sachs analyst David Fleischer lowered his ratings on Enron and Dynegy. A longtime Enron fan, Mr. Fleischer issued a report expressing doubts that the merger would help Dynegy's earnings and whether Enron could "recover the significant business that has been lost" in its giant energy-trading operations. "The Enron machine continues to sputter," Mr. Fleischer wrote.
Some observers say that if Dynegy walked away from the deal or tried to renegotiate the terms significantly, Enron might be pushed into a bankruptcy-law filing. Without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing "is highly possible," said Ralph Pellecchia, a senior director at Fitch, a credit-ratings agency. On Wednesday, Fitch maintained its credit rating on Enron at just one notch above noninvestment-grade, or "junk," status. But Fitch also said it believed Enron's trading partners had made "significant cash collateral calls" in recent days that are "well in excess of previous expectations," contributing to "liquidity pressures."
Among the advisers Enron has hired during its current crisis is the law firm of Weil, Gotshal & Manges, which specializes in bankruptcy and corporate-workout situations. Asked about a possible bankruptcy filing, an Enron spokeswoman said the company expects the Dynegy deal to go through and therefore doesn't expect to have to look at alternatives to the merger. Since the merger announcement, Enron Chairman Kenneth Lay has said his company had alternatives to the Dynegy deal but he has declined to identify them. Enron said it made some progress improving its financial position. The company said it reached a final agreement with units of J.P. Morgan Chase & Co. and Citigroup Inc. on the remaining $450 million of a previously announced $1 billion in secured credit lines. Enron said lenders had agreed to extend repayment of an existing $690 million note to mid-December from next week. The spokeswoman said a restructuring of that obligation is expected to be completed next month so that repayment wouldn't be required this year.
---
Thaddeus Herrick and Robin Sidel contributed to this article.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Faces Suits by 401(k) Plan Participants
By Theo Francis and Ellen Schultz
Staff Reporters of The Wall Street Journal
11/23/2001
The Wall Street Journal
C1
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Enron Corp., the embattled Houston energy and trading company, has been sued by members of its employee-retirement plan, which has suffered losses because of Enron's plummeting stock price.
Two separate lawsuits, filed in federal court in Houston, allege Enron misled participants in its 401(k) retirement plan about the risks of investing in the company's shares and note that the company forced the employees to remain invested in its stock even as the shares fell. Amid growing disclosures of financial problems in recent weeks, the company "locked down" the retirement plan from Oct. 17 to Nov. 19 to make administrative changes, which prevented employees from selling Enron shares as the share price collapsed.
Enron, which recently agreed to be acquired by Dynegy Inc., Houston, because of mounting financial problems, has seen its stock price fall to $5.01 on Wednesday from a peak of nearly $90 a share last year. The decline has been costly to participants in Enron's retirement plan because more than 60% of the 401(k) assets were invested in Enron shares at the end of last year, according to one of the suits.
The first suit was filed Nov. 13 on behalf of plan participants by Campbell Harrison & Wright LLP, a Houston law firm, and the second was filed Tuesday by Seattle-based Hagens Berman LLP. Both seek class-action certification.
Enron said its corporate policy is not to comment on pending lawsuits. A spokeswoman also said the company's 401(k) plan offers participants 18 investment choices, one of which is company stock.
The company's stock has fallen amid mounting losses and disclosures that it had extensive off-balance-sheet dealings with a web of partnerships headed by former company officials. The Securities and Exchange Commission has launched a formal investigation into the company's accounting, and Enron has said it will restate years of financial information.
The suits against Enron are the latest of a series of suits filed against companies over losses in the company-stock portion of their 401(k) plans. The suits allege the plan trustees breached their fiduciary duties by continuing to offer company stock, even after they became aware of serious business problems that would hurt the stock price. All the suits are pending.
As with most of these companies, Enron matches employee contributions to the 401(k) with shares of Enron stock, and also offers Enron stock as an investment choice, in addition to a variety of mutual funds. About $1.3 billion of the plan's $2.1 billion in assets was invested in Enron shares at the end of 2000, according to the suit filed by Campbell Harrison.
Pamela Tittle, a participant in the 401(k) plan who worked in the finance department and a named plaintiff in the Enron suit filed by Campbell Harrison & Wright, had roughly 2,000 shares of Enron stock in her retirement account and has suffered losses of about $140,000 as a result of the stock's decline. The suit alleges that the trustees of the Enron 401(k) plan violated their fiduciary duties by not informing plan participants that the company stock was in peril.
The suit filed by Hagens Berman, also alleges that the company failed to warn participants about risks of remaining invested in Enron stock. In addition, it accuses Enron of systematically misrepresenting its financial results since 1998 in connection with the partnerships under investigation by the SEC.
Roy E. Rinard, a lineman for Enron in Oregon who is a named plaintiff in the suit filed by Hagens Berman, has seen the value of his retirement plan fall to $70,000 from $470,000, largely as a result of the decline in Enron's stock. "I feel like I have been betrayed," Mr. Rinard said in press release issued by his lawyers. "I lost my savings, my plans for the future, everything."
Under federal pension law, companies are allowed to offer their own stock in retirement plans, and are allowed to force employees to hold onto the stock. Enron doesn't let employees diversify out of shares they receive as matching contributions to the 401(k) plan until age 50.
However, plan trustees are supposed to operate the plan in the best interests of the participants, which includes choosing prudent investments. Generally, to prove that the plan's administrators breached their fiduciary duties, employees must show that the trustees knew the stock was a bad investment. This presents a high hurdle, so it is not surprising that prior lawsuits over losses in company stock in 401(k) plans have generally come in the wake of allegations of accounting irregularities.
Lynn Sarko, one of Ms. Tittle's attorneys with Seattle's Keller Rohrback LLP, is also co-lead counsel in a similar lawsuit against Lucent Technologies Inc., Murray Hill, N.J. Another firm representing Ms. Tittle is Dalton Gotto Samson & Kilgard PLC, which is lead counsel in a similar suit against Ikon Office Solutions Inc., Malvern, Pa. The two law firms are representing Ms. Tittle with Campbell Harrison & Wright.
The suits against Lucent and Ikon, like the suit against Enron, allege that then-current plan trustees kept offering company stock in the plan despite knowing of serious business problems that would hurt the stock price. Representatives for Ikon and Lucent say their companies didn't require employees to invest in the company stock, and educated employees about the need for diversification.
The suit in which Mr. Rinard is plaintiff notes that on Oct. 17, a day after Enron announced the company was taking a nonrecurring charge totaling $1.01 billion in the third quarter, Enron "locked down" the 401(k) plan's assets, preventing participants from selling Enron shares. (A "lock-down" occurs when a retirement plan is transferred from one administrator to another, and generally lasts several weeks, during which time participants can't make changes in their investment choices).
The lock-down was lifted on Nov. 19. In the interim, on Nov. 8, Enron announced it would be forced to restate downward its reported financial results from 1997 through 2000. By the time the lock-down was lifted, as a result of all the negative news the shares had fallen to below $9 a share from $32.20 on Oct. 17, when the lockup started, Hagens Berman attorney Karl Barth said.
"They were locked into it right when Enron knew it was going to be announcing some really bad news," Mr. Barth said. "Mr. Rinard's looking at having no retirement savings now. It's a horrible thing to have to start over in your 50s."
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business/Financial Desk; Section C
From Sunbeam to Enron, Andersen's Reputation Suffers
By FLOYD NORRIS
11/23/2001
The New York Times
Page 1, Column 2
c. 2001 New York Times Company
THIS has been the worst year ever for Arthur Andersen, the accounting firm that once deserved the title of conscience of the industry. The Securities and Exchange Commission filed civil fraud complaints against the Andersen partner who audited Sunbeam and against the firm itself in the Waste Management case.
Now Enron has repudiated the financial statements that were certified by Arthur Andersen, in the process shaving more than half a billion dollars from the company's reported profits in recent years.
All of which raises the question: Has Arthur Andersen become the black sheep of the accounting industry?
It is not an easy question to answer, and not everyone is willing to rush to judgment. ''If you want to attack Andersen for Enron, you need to know more than we know,'' Arthur Levitt, the former chairman of the Securities and Exchange Commission, said this week.
But if there is a thread connecting what is known about the three cases, it is materiality. In all three cases, Andersen auditors spotted bad accounting but were persuaded it was immaterial and therefore allowed it to go ahead.
Materiality is one of those flexible concepts that can get accountants into trouble. The idea is that it doesn't much matter if a few little things were gotten wrong. But they can add up.
At Enron, however, they did not add up to that much -- a total of $93 million over four years. The biggest restatement of Enron profits concerns a related party that Enron now says should have been consolidated. It is not clear if Andersen had the facts needed to make that decision at the time.
To those who treasure the role of auditors, the humiliation of Andersen is painful. Back in the 1950's, it was Leonard Spacek, Andersen's managing partner, who warned that ''the profession's existence is in peril'' because it was not showing enough independence. His public prodding was crucial in making the industry do a better job. Two decades ago, when the issue on the table was pension accounting, Andersen was the only major accounting firm to break with clients and push for good rules.
Now Andersen's backbone is open to question. It was evidence that senior people at Andersen repeatedly gave in to pressure from Waste Management that led the S.E.C. to bring that suit, which the firm chose to settle without admitting it had done anything wrong. The partner that the S.E.C. says looked the other way at Sunbeam is fighting the accusations, and Andersen says he acted properly.
Lynn Turner, who was chief accountant of the S.E.C. at the time and is now director of the Center for Quality Financial Reporting at Colorado State University, says what is happening to Andersen now is reminiscent of what happened to Coopers & Lybrand when he was a partner there and the firm had a series of highly publicized blown audits.
''We got bludgeoned to death in the press,'' he said. ''People did not even want to see us at their doorsteps. It was brutal, but we deserved it. We had gotten into this mentality in the firm of making business judgment calls.'' By that he meant that the firm paid too much attention to not offending clients and not enough to good accounting.
For Andersen to avoid that fate, its relatively new chief executive, Joseph Berardino, who declined to be interviewed for this column, will need to set a tone inside the firm making clear that he expects auditors to show the backbone that Mr. Spacek epitomized. And then he will have to convince the public of that.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business/Financial Desk; Section C
Chase and J. P. Morgan's Paper Anniversary
A Year After the Merger, Rosy Plans Meet Reality
By RIVA D. ATLAS
11/23/2001
The New York Times
Page 1, Column 5
c. 2001 New York Times Company
When William B. Harrison Jr. speaks of last year's $31 billion merger of J. P. Morgan and the Chase Manhattan Corporation, he speaks proudly of a deal that he considers to be a capstone to his 34-year career of helping build a giant of the banking business.
''This is the first merger I've been part of,'' said Mr. Harrison, the chief executive of the combined bank, ''where I feel our core business is complete.''
The Chase-J. P. Morgan combination helped advance the bank into the investment banking elite, just as Mr. Harrison intended. But with Wall Street and the economy in far different places today than they were when the deal was put together, the many mergers, stock sales and other money-making opportunities that were supposed to justify the high-priced acquisition have largely dried up for now.
Consequently, deal makers and analysts who follow the bank are already speculating that Mr. Harrison, 58, may ultimately be compelled to do yet another large deal, this time to diversify his business away from its heavy emphasis on Wall Street.
J. P. Morgan Chase has won some prominent assignments, like handling the revampings of troubled giants like Lucent and, more recently, Enron, the beleaguered energy trading company.
But while J. P. Morgan Chase is proud of serving alongside Citigroup as both lead lender and adviser to Enron on its acquisition by Dynegy, the dual role it has worked to achieve sometimes proves complicated for the bank. With Enron's shares in free fall as more information comes out about its hidden debts, J. P. Morgan Chase has been scrambling to maintain the support of other banks while simultaneously keeping the merger with Dynegy on track.
Thanks largely to the slump on Wall Street, J. P. Morgan Chase's profits fell by two-thirds in the third quarter, to $449 million from $1.4 billion in the period a year ago. Its stock has dropped 15 percent this year, more than other banks' shares. The bank's stock is ahead of investment banks like Goldman Sachs, with which J. P. Morgan Chase increasingly competes.
''The jury is still out in many respects on this merger,'' said Judah Kraushaar, an analyst at Merrill Lynch. Nevertheless, he likes J. P. Morgan Chase's stock, he said, because ''expectations are very low.''
All J. P. Morgan Chase's competitors are suffering from the slowdown on Wall Street. But some, like Citigroup, are better diversified and have greater involvement in old-fashioned consumer banking, which is proving to be a strong moneymaker this year.
Nearly a third of J. P. Morgan Chase's revenues are consumer-oriented. By contrast, its chief New York rival, Citigroup, gets half its revenues from consumer businesses.
''The timing of the merger was bad,'' said Steven Wharton, a banking analyst at Loomis, Sayles & Company, which owns about a million J. P. Morgan Chase shares. ''There's no disputing that.''
Actually, Mr. Harrison disputes it. ''I can't tell you how happy I am about having done this merger,'' he said in a recent interview. ''While there are pluses and minuses to operating in a weak economic environment, we have a much stronger platform to manage with during this difficult time.''
In Mr. Harrison's favor is his battle-tested team of top executives who have worked together for a decade or more. Few executives remain in the top spots from the old J. P. Morgan. Instead, most major posts are filled by managers who have worked with Mr. Harrison since his days at Chemical Bank, where he spent most of his career. Mr. Harrison's team successfully gobbled up Manufacturers Hanover Bank in 1991, then followed that with Chemical's merger with Chase Manhattan in 1996 before incorporating Morgan into the fold last year.
The group of Chemical veterans includes Marc J. Shapiro, who oversees finance and risk management at J. P. Morgan Chase; Donald H. Layton, one of two leaders of investment banking; and James B. Lee Jr., the bank's senior deal maker. The team also includes Dina Dublon, the bank's chief financial officer.
Two other senior executives have also lived through big deals. Geoffrey T. Boisi, the other investment banking leader, was the one-time investment banking chief at Goldman, Sachs. David A. Coulter, in charge of Chase's retail bank, had been chief executive of Bank of America before it was bought by NationsBank.
''There aren't many teams that have gone through as many mergers as Bill Harrison and his team,'' said Mark G. Solow, managing principal at GarMark Advisors, an investment firm, and a former senior executive at Chemical.
Still, Ms. Dublon acknowledged that the tough economy was making the J. P. Morgan takeover more difficult than the earlier combinations.
''In general, mergers are very hard on morale,'' she said. ''There is no question that this one has a tougher emotional toll.''
The bank's executives are making the best of a bad situation. They have taken advantage of the slowdown to cut around 8 percent of the combined banks' staff, or about 2,500 more employees than anticipated at the time the merger was announced.
Many of these job cuts were aimed at high-cost investment bankers: J. P. Morgan Chase expects that 6,000 jobs in its investment banking division will have been eliminated by the end of the year.
''We have focused on the tougher jobs to cut,'' Ms. Dublon said.
In some ways the overall market turmoil has made it easier for J. P. Morgan Chase to overhaul its staff. With fewer jobs available on Wall Street, Mr. Shapiro said, the employees who are left behind are less apt to complain about changes in their jobs. ''People have fewer options,'' he said, ''so you have a little more control over the process.''
Thanks partly to these cuts, the bank estimates the saving from cost cutting will be $3.6 billion annually, compared with an original projection of $2 billion at the time of the merger.
The cost cutting has helped compensate somewhat for a sharp drop in profits in the bank's core businesses. ''What we can control and are managing very aggressively is the expenses of the company,'' Ms. Dublon said in a conference call with reporters on Oct. 17, the day earnings were announced.
Aside from cost cuts, the weakness on Wall Street makes it hard for the bank's executives to point to tangible gains in investment banking, where fees were down 24 percent in the third quarter. But Mr. Harrison points to market-share gains the bank has achieved at the expense of competitors on Wall Street. He hopes that when the investment banking business revives, J. P. Morgan Chase will hold on to these gains.
The bank is particularly proud of its standing in two areas: mergers and acquisitions, and the underwriting of large investment-grade bond deals.
The bank ranked 5th worldwide in the highly profitable category of advising on mergers during the first nine months of 2001, up from Chase's 12th-place finish and J. P. Morgan's 10th-place standing during the same period last year, according to Thomson Financial Securities data.
The merger and acquisitions business, which Chase had been slowly building for years, is stronger following the merger with J. P. Morgan, said Mr. Lee, a vice chairman at the bank. As a result, the bank is able to win assignments providing advice to customers who dealt with the old Chase only for loans.
Mr. Lee remains proud of the bank's work with Enron, the energy company, despite its troubles. J. P. Morgan Chase, along with Citigroup, raised $1 billion in bank financing for Enron earlier this month. It was also hired to advise the company, which hopes to be saved from collapse by being taken over by Dynegy.
The old Chase, long a lending powerhouse, would have had a good shot at leading the bank financing, but an advisory role would have been less certain. Mr. Lee said the investment banker advising Enron came from the old J. P. Morgan. But with merger activity slow, there are few such deals to go around.
The bank is also proud of its strength in long-term investment-grade bonds, another area that business executives say has been enhanced by the merger. It moved up to second place in that area so far this year, compared with sixth place a year ago.
The bank has taken advantage of a boom in large corporate bond offerings, a surge driven by today's low interest rates. In May J. P. Morgan Chase raised $12 billion in bonds for WorldCom, the telecommunications company, in the largest corporate debt deal in the United States on record.
Unfortunately for J. P. Morgan Chase, the fees for underwriting investment-grade debt are small compared with the money to be earned coordinating offerings of stock, where J. P. Morgan Chase remains a second-tier competitor.
The bank actually lost market share in the rankings for underwriters of stock, falling to 9th place this year, compared with the old J. P. Morgan's 6th-place finish a year ago. (Chase was 11th.)
Mr. Harrison said the bank was taking advantage of the slowdown in stock offerings to build momentum slowly in that business. ''We think we have a chance in the second half of this year to be in the top five,'' he said.
Given the slowdown, some bankers predict that Mr. Harrison will ultimately do another deal, either to expand his consumer banking business or to bolster weak areas in investment banking, like the equity division.
''The general view is that the combination with J. P. Morgan didn't do enough,'' one investment banker said.
Mr. Harrison disagrees: ''I don't feel,'' he said, ''we need to do another large deal to be successful.''
Photo: William B. Harrison Jr., the chief executive, says he has no doubts about the wisdom of forming J. P. Morgan Chase, even though the the economy has slowed since then. ''I can't tell you how happy I am about having done this merger,'' he said. (Associated Press) Chart: ''Still Looking for the Right Mix'' When J. P. Morgan and Chase announced their merger in September 2000, the combination's strength in investment banking seemed sure to be successful. But the bank's stock has suffered with Wall Street's slump, and its more consumer-oriented and better-diversified rival, Citigroup, has fared better. Graph tracks the daily closing prices of Citigroup and J. P. Morgan Chase shares from September 2000 through November 2001. A DIFFERENT BLEND OF BANKING Based on revenue, before overhead expenses (first nine months of 2001). J. P. MORGAN CHASE* Consumer and small business: 32% Investment management and private: 9% Corporate and investment: 58% CITIGROUP Consumer and small business: 54% Investment management and private: 4% Corporate and investment: 42% *Does not add to 100 because of rounding. (Sources: Bloomberg Financial Markets; company reports)
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
COMPANIES & FINANCE THE AMERICAS - Enron 'awaiting' capital injections, say officials.
By ROBERT CLOW.
11/23/2001
Financial Times
(c) 2001 Financial Times Limited . All Rights Reserved
Officials working to shore up Enron's balance sheet yesterday said the struggling energy trader hoped to receive capital injections of more than $1.5bn as early as next week.
Enron is in talks about $250m investments with JP Morgan Chase and Citigroup and is also hoping to raise at least $1bn from private equity investors.
People close to Enron declined to comment on which buyout firms might wish to invest in Enron. However, the Blackstone Group, which was reported to be talking to the company before Dynegy made its $9bn rescue bid, is understood no longer to be doing so.
Members of the 20-strong bank lending group, led by JP Morgan Chase and Citigroup, are being asked to defer the maturities of their upcoming debt until after the completion of the merger.
The moves comes as reports from Goldman Sachs and Fitch, the credit rating agency, raised questions about the company's cash flow and its medium-term viability.
David Fleischer, a Goldman Sachs analyst, argued that cash balances were inadequate to meet $2.8bn of debt obligations falling due before the end of the year.
People close to Enron say that nearly $1bn of that debt has already been restructured.
The Fitch report said that if the Dynegy deal was not completed, Enron would struggle to meet $9bn of obligations due before the end of next year.
People close to Enron insisted that Dynegy remained committed to the merger and played down talk of renegotiation.
Dynegy would shortly issue a statement reasserting its commitment to the deal, they predicted.
(c) Copyright Financial Times Ltd. All rights reserved.
http://www.ft.com.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: UPDATE 2-Enron bleeds again as Dynegy deal doubts grow.
11/23/2001
Reuters English News Service
(C) Reuters Limited 2001.
(dateline previous NEW YORK, changes byline, updates with bond prices, details throughout)
By C. Bryson Hull
HOUSTON, Nov 23 (Reuters) - A long weekend of work faced Dynegy Inc. and proposed acquisition Enron Corp.,, whose worsening stock woes on Friday whipped up fear that the deal could be renegotiated or collapse entirely.
Houston-based Dynegy and its advisers were expected to spend the long holiday weekend reviewing larger cross-town rival Enron's complex books, as both parties race against the decline in Enron's stock to complete the thorough financial examinations a merger requires.
Enron shares ended down more than 5 percent, or 27 cents, to $4.74 at the close of abbreviated Friday trading on the New York Stock Exchange. Dynegy shares closed up 64 cents, or 1.61 percent, to $40.40.
Dynegy on Nov. 9 agreed to pay about $9 billion in stock for Enron. But, after falling 45 percent by Friday's close amid fears it could run out of cash before the deal closes, Enron's market capitalization is only about $4.03 billion.
At Dynegy's current stock price, its offer for Enron is worth about $10.85 a share - more than twice Enron's current share price.
Executives and advisers from both companies are in the final stages of the review, known as due diligence, sources familiar with the matter told Reuters. The sources said renegotiations had not been discussed as of Friday afternoon, and that such discussions could not occur until the due diligence review is finished.
But should it turn up any more unpleasant surprises that qualify as a "material adverse change" in Enron's business, the likelihood increases of Dynegy invoking escape clauses or renegotiating, analysts and observers say.
"You've got to believe there is that possibility. There is a 90 percent spread on the deal," said one analyst. "There's unquestionably continued malaise in Enron's core business and Dynegy has left itself open to renegotiate with Enron."
UBS Warburg analyst Ron Barone on Wednesday wrote in a research report that the likelihood was "soaring" that Dynegy might discover a material adverse change.
Enron spokeswoman Karen Denne said that, to her knowledge, Dynegy was not renegotiating the terms of the acquisition.
She repeated that Enron was working on obtaining an additional $500 million to $1 billion in private equity funding to help shore up the balance sheet.
Dynegy spokesman John Sousa said due diligence was continuing and said the company remains optimistic about the merger.
TRADERS FEARING RENEGOTIATION
Enron's recent admission that lower volumes at its trading business - the crown jewel of Enron that Dynegy most covets - could cause low fourth-quarter earnings raises the possibility that the trading business is losing its profitability. Continued losses there would remove a key attraction for Dynegy.
Electricity traders said the latest developments are making it seem more likely that Dynegy will renegotiate the deal or back out entirely, a move they said would leave Enron vulnerable to creditors and a possible bankruptcy.
This week rating agency Fitch Investors said that if Dynegy stepped away from the merger, Enron's credit situation seemed untenable and a bankruptcy filing was highly possible.
Traders, speaking on condition on anonymity, said they expected Dynegy to scramble over the weekend to narrow the growing share price gap. Enron's depleted market value and the shrinking volume in its EnronOnline trading system makes it more likely Dynegy could pull out, traders said.
Meanwhile, energy traders reiterated that they would shy away from long-term deals with Enron unless they received substantial assurances the company's credit rating would soon improve.
Enron's bonds on Friday were again talked at junk-bond levels, but even lower than before.
Enron's 6.4 percent notes maturing in 2006 and its 6.75 percent notes were bid Friday at 57 cents on the dollar, down from a respective 62 and 60 cents on Wednesday, according to a trader. The notes yield to maturity a respective 21.5 percent and 17 percent. Its 20-year zero-coupon convertible bonds fell about 1 cent on the dollar to just over 33 cents.
Enron is hovering at the edge of investment-grade as the three main credit trading agencies consider whether to cut them again, and some observers wonder how Enron has avoided it.
"A bond trading in the 50s has nothing to do with an investment-grade security," said Scott Smith, a principal at Wells Capital Management in San Francisco, where he invests $6 billion in debt and does not own Enron.
(Additional reporting by Jim Jelter in San Francisco, Andrew Kelly in Houston and Carolyn Koo, Arindam Nag, David Howard Sinkman and Jonathan Stempel in New York)).
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Enron avoids junk status, but observers wonder how.
By Jonathan Stempel
11/23/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 23 (Reuters) - It is rare that holding onto investment-grade credit ratings means as much to a company as it does now to beleaguered energy trader Enron Corp. , and some observers are wondering why a cut to junk status is taking so long.
"The sum of all knowledge is in the valuation of the stock and the bonds," said Scott Smith, a principal at Wells Capital Management in San Francisco, where he invests $6 billion in debt, and does not own Enron. "A bond trading in the 50s has nothing to do with an investment-grade security."
Enron's 6.4 percent notes maturing in 2006 and 6.75 percent notes were bid Friday at 57 cents on the dollar, down from a respective 62 and 60 cents on Wednesday, a trader said. The notes yield to maturity 21.5 percent and 17 percent.
Meanwhile, Enron's shares have sunk 94 percent this year. Since October 16, when it released third-quarter results, which it has since revised downward, its shares have fallen 86 percent, and its bonds by nearly half.
Houston-based Enron, which is trying to merge with smaller cross-town rival Dynegy Inc. , has been rocked this year by accounting problems, earnings restatements, a federal investigation and a top management shuffle.
Its advisers were expected this weekend to pore over the company's books, which could lead to a renegotiation of the merger, sources familiar with the matter said.
Moody's Investors Service and Standard & Poor's have cut its senior unsecured debt ratings twice in the last month to their current "Baa3" and "BBB-minus," their lowest investment grades. Fitch has cut its equivalent rating to "BBB-minus," and all three agencies have warned of more possible cuts.
The stakes could hardly be higher.
CASH CRUNCH
A downgrade to "junk" status could imperil Enron's trading business, force it to pay off as much as $3.9 billion of debt issued mostly by two trusts, and possibly force it to seek bankruptcy protection, analysts said.
Enron said in a securities filing it recently had less than $2 billion of available cash and credit lines.
S&P said on Tuesday that Enron faces "liquidity issues," but enjoys an "alignment of interests" with its banks and a near-term financial position that "is expected to be sufficient" to allow the Dynegy merger.
Fitch, meanwhile, said on Wednesday that "our present 'BBB-minus' rating rests on the merger possibility and continued support of the lending banks."
If Dynegy walks away, it said, "Enron's credit situation seems untenable with a bankruptcy filing highly possible."
Enron said on Monday it had $9.15 billion of obligations due through next year, and a $690 million note that could come due next Tuesday. It later said it got a three-week reprieve.
INVESTMENT BANKS
Sean Egan, managing director of Egan-Jones Ratings Co. in Philadelphia, likened Enron's ratings situation to those of California's two largest utilities, Pacific Gas & Electric Co. and Southern California Edison .
Despite investor unease, those utilities kept their investment-grade ratings only until they defaulted on debt in January, as California's power crisis worsened.
On November 8, a day before the Dynegy merger was announced, senior officials from Enron's lead banks - William Harrison, chief executive of J.P. Morgan Chase & Co. , and Michael Carpenter, who runs Citigroup Inc.'s investment banking arm - met with Moody's to help allay that agency's concerns, a person familiar with the meeting said.
A day later, Moody's, which issued no statement on Enron this week, downgraded the company's senior unsecured debt rating, but only to its current "Baa3."
"Pressure is coming from the investment banks, which have a vested interest in seeing the Dynegy deal go through," said Egan, whose agency rates Enron's debt "BB," its second-highest junk grade. "Investment banking fees will be substantial."
Companies pay for Moody's and S&P ratings, which they need to obtain financing. Egan said his agency receives no such payments.
Citigroup and J.P. Morgan declined to comment. Moody's and S&P did not immediately return phone calls. Fitch was not immediately available for comment. Dynegy and Enron on Wednesday, however, reaffirmed their commitment to the merger.
Wells Capital's Smith isn't sure what to expect.
"Enron will remain definitively investment grade if the merger as billed goes through, ... but there are half a dozen things that could go wrong," he said. "Obviously, the equity markets are telling you it's very skeptical the merger will go through, and the bond market is following its lead."
(Additional reporting by Carolyn Koo and Arindam Nag.).
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: US Corp Bonds-Enron slips again in quiet market.
By Jonathan Stempel
11/23/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 23 (Reuters) - The U.S. corporate bond market saw very little activity on Friday, with many traders leaving even in advance of the early close, though Enron Corp.'s bonds weakened for a third straight session amid concern over the energy trader's liquidity, and whether its merger with Dynegy Inc. can go through.
"Deadly" was how one trader described activity. Spreads, the yield difference between investment-grade bonds and comparable maturity U.S. Treasuries, finished unchanged on balance, as did junk bond prices, traders said.
Enron's 6.4 percent notes maturing in 2006 and its 6.75 percent notes were bid at 57 cents on the dollar, down from a respective 62 and 60 cents on Wednesday, according to a trader. The notes yield to maturity a respective 21.5 percent and 17 percent. Its 20-year zero-coupon convertible bonds fell about 1 cent on the dollar to just over 33 cents.
Meanwhile, Enron's shares fell 5.4 percent, as its advisers prepared this weekend to pore over the company's books, sources familiar with the matter said. Analysts said there could be a renegotiation of the Dynegy merger.
"The sum of all knowledge is in the valuation of the stock and the bonds," said Scott Smith, a principal at Wells Capital Management in San Francisco, where he invests $6 billion of debt, none from Enron. "A bond trading in the 50s has nothing to do with an investment-grade security."
Ten-year Treasuries closed down 12/32, as their yields rose to 5.011 percent.
JUNK BOND FUNDS ENJOY INFLOWS
Separately, investors poured cash into U.S. junk bond mutual funds for a second straight week amid a newfound tolerance for riskier assets.
Investors added a net $628.5 million of cash to the funds in the week ending Tuesday, on top of $816.3 million in the prior week, according to AMG Data Services.
The two-week inflow is the largest since the second and third week of January. The bonds rose more than 6 percent that month, according to Merrill Lynch & Co.
"Financial markets have rallied on hopes that the economy will get better in the not-too-distant future," said Jan Hatzius, senior economist at Goldman Sachs & Co. "A lot of the optimism right now is hope rather than reality, but we should see signs of improvement in a month or two."
Through Thursday, junk bonds have returned 2.93 percent in November alone, beating all other bonds, and are up 4.71 percent this year, Merrill Lynch data show. The bonds still yield 7.98 percentage points more than Treasuries, but that's down from 9.29 percentage points at the start of the month.
Companies this week sold about $3.83 billion of investment-grade, $533 million of junk, and $3.3 billion of convertible debt. Investors expect about three more weeks of overall active issuance before the usual year-end slowdown.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Enron shares seesaw on concerns over Dynegy deal.
11/23/2001
Reuters English News Service
(C) Reuters Limited 2001.
NEW YORK, Nov 23 (Reuters) - Shares of Enron Corp. fluctuated wildly on Friday morning, as concerns grew over rival Dynegy Inc.'s $9 billion acquisition of the beleaguered energy trader.
Enron shares were down 8 cents, or 1.6 percent, to $4.93 in Friday morning trading on the New York Stock Exchange, after diving more than 8 percent earlier.
The shares are down because of talk that the terms of Dynegy's deal with Enron could be changed or that the deal could collapse.
Dynegy originally agreed to pay about $9 billion in stock for Enron. But, after falling 42 percent since then by Wednesday's close, Enron now sports a market capitalization of only about $4.26 billion.
In a report on Wednesday, Ronald Barone, an analyst at UBS Warburg, suggested that the deal's current exchange ratio of 0.2685 share of Dynegy for each share of Enron could well be readjusted.
He suggested that a much lower exchange ratio of 0.15 was more realistic.
"You've got to believe there is that possibility. There is a 90 percent spread on the deal," said one analyst, referring to a potential renegotiation.
"There's unquestionably continued malaise in Enron's core business and Dynegy has left itself open to renegotiate with Enron," he continued.
Some of Enron's trading partners have scaled back their activity, causing that "malaise." Lower volumes at its trading business, which is the largest and most coveted portion of its operation, could cause fourth-quarter earnings to come in below expectations, Enron has said.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
TALES OF THE TAPE: Energy Traders' Perfect Storm Stalls
By Christina Cheddar
Of DOW JONES NEWSWIRES
11/23/2001
Dow Jones News Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- Here's one 2001 outlook that couldn't have been more wrong.
Around this time last year, pundits and fund managers were touting "the perfect storm" of market forces that were coming together to make the energy trading business one to watch in 2001.
Then came the California power crisis, and allegations of price-gouging and fears of credit defaults began to cloud the outlook for the group. That was followed by renewed volatility in power prices, and this time the prices were headed down, not up.
And then came a crushing blow against trading firms - the unraveling of the industry's largest player, Enron Corp. (ENE).
Simply put, the perfect storm stalled, and a business once buoyed by high gas prices, strong demand and tight supply now lies in tatters.
The stocks of companies whom some say should be valued more like growth stocks than utilities are instead mired at around nine-times earnings - about where traditional utilities trade.
And the chance for recovery in 2002?
Basu Mullick, portfolio manager of the Neuberger Berman Partners fund, is willing to bet there is. He thinks energy traders deserve at least the same price-to-earnings multiple as the broader market's median, which is currently between 16- to 17-times future earnings, he said. It's just a matter of time before the stocks get there.
"They were just recovering from Gray Davis," Mullick said, referring to the governor of California, who had accused "out-of-state" energy traders of artificially inflating the price of power in the state, and triggering the state's energy crisis. "Now, they are recovering from Enron."
The fund manager also blames lower commodity prices, warm weather and poor demand for the recent weak performance in the group.
"Energy convergence companies are putting up terrific growth rates," he said. "I don't think they should get the same valuation as a garden-variety utility."
Still, others think the stock market is continuing to make distinctions between the energy traders by taking a harder look at the companies' strategies and financial disclosures.
Enron's precarious financial situation underscores the importance of accounting issues. Although many of Enron's financial problems aren't solely the fault of mark-to-market accounting issues, there has been growing attention paid to this form of financial reporting because of the earnings volatility it can create.
Answers Elude Investors
Investors are asking hard questions, and not always getting the answers they want.
Using mark-to-market methods, a company calculates the fair market value of a commodity position - whether it's a contract, an option, a swap, etc. - at the time, even if the value of the position is realized over a longer period. The problem with this method is the actual cash a company realizes from the position might not be the same value the company calculated in its original assessment. Also, sometimes it isn't easy to calculate the fair value of the commodity position. This is particularly true in instances where the market for the commodity isn't liquid.
Over time, companies with the highest level of disclosure regarding their mark-to-market gains will most likely trade at higher multiples to counterparts that provide little or no disclosure, said ABN AMRO Inc. analyst Paul Patterson.
Encouragingly, it appears companies may already be responding to the call for added disclosure. According to a survey Patterson conducted, more companies with energy trading units were willing to disclose the details of their mark-to-market accounting practices during third-quarter conference calls compared with those in the second quarter.
Patterson said he prefers earnings that are cash-based.
"All things being equal, we believe reported earnings that more closely reflect the timely realization of cash have a higher quality associated with them than earnings that do not," he said.
He expects investors to become smarter and learn to distinguish between earnings growth through accrual accounting and growth fueled by mark-to-market accounting.
At the end of the day, it is not a matter of simply producing profits, but being able to say where those earnings came from, said one investor, who manages a pension fund.
Some investors also may be placing a greater emphasis on the cash flow the energy merchants produce.
Tim O'Brien, portfolio manager of the Gabelli Utilities Fund, said energy merchants that own the physical power assets to back up their trading positions should trade at a premium to an independent power producers and traditional utility companies. Still, the stocks should be valued at less than the growth rate of the company because of their heavy exposures to commodity prices.
Energy merchants include companies such as Dynegy Inc. (DYN), Duke Energy Corp. (DUK) and Dominion Resources Inc. (D).
According to O'Brien, the group never deserved to have the price-to-earnings multiples above 20- to 30-times earnings, which were once paid for the stocks.
"We all got sucked up by the up-leg of the cycle and forgot just how cyclical these companies are," O'Brien said, adding that the average multiple should be in the high single-digits to the high-teens.
As for independent power producers - which are companies without regulated operations that own power plants to generate electricity to sell and trade in the wholesale market - the group may wind up being valued on the basis of the replacement costs of the assets in their portfolio, according to O'Brien.
"One analogy is that they are basically like commercial real-estate plays," O'Brien said.
That could mean stocks such as Calpine Corp. (CPN), which is already in the lower-half of its trading range, may have further to fall.
-By Christina Cheddar, Dow Jones Newswires; 201-938-5166; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
U.S. Energy Exhange May Scrap Online Platform Plans
By Stephen Parker
Of DOW JONES NEWSWIRES
11/23/2001
Dow Jones Energy Service
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW YORK -(Dow Jones)- The world's largest energy futures exchange is taking a second look at plans to launch a major new electronic trading platform known as eNymex, and may decide to scrap them.
Management changes at the New York Mercantile Exchange, along with the success of Access, an online platform the exchange expanded in September, have prompted the move.
Nymex may decide to combine parts of eNymex with Access, according to sources close to the matter. It is also exploring the idea of alliances with other exchanges, and considering developing "e-mini" contracts - smaller energy contracts for Internet-based trade by retail investors.
"There's new management in place at the exchange," said Nymex spokeswoman Nachamah Jacobovits. "They're rethinking all of our business strategies, and one very massive strategy was the idea of this major eNymex B2B (business-to-business) system launch with a whole new slate of products."
Nymex and GlobalView Software Inc., a company that initially worked on building the eNymex trading system, have sued each other in a dispute over work on the project.
Kiodex, an electronic-trading technology firm that has developed the back end of the eNymex system, took on added development work for the project after GlobalView departed. The trade engine Kiodex was asked to build is "substantially complete, but the company can't speak to Nymex's overall electronic-trading strategy," a Kiodex source said.
The eNymex platform was conceived as a forum for trading over-the-counter energy products, but Nymex has already moved ahead with plans for trading some of them on Access, initially an overnight trading system that was expanded in September. It hopes, for example, to launch gas swaps based on delivery at the Henry Hub within the next six weeks on Access, Jacobovits said.
"We've expedited plans for a Henry Hub natural gas swap contract," Jacobovits said. "Traders could be looking for OTC clearing on a neutral-based platform, which is a factor in that decision."
Before Sept. 14, Access was used only to trade energy futures at night, after the day's Nymex session had ended. Use was limited to Nymex members with dedicated phone systems.
The exchange had been planning to expand use of Access, but ended up doing so sooner than it had expected. On Sept. 14, it started offering Access trading over the Internet, a move that will eventually allow Nymex to open up trade to more users.
The move was intended to help keep futures markets liquid after the Sept. 11 attack on the World Trade Center. Nymex's building, located near where the trade towers stood, was shut down for several days after the attacks. Expanding its already existent Access system to the Internet helped ease potential liquidity problems that could have arisen from shortened floor trading hours after Nymex reopened.
Development of the eNymex system began last year under the direction of former Nymex Chairman Daniel Rappaport. In August, Nymex said it would launch the eNymex platform within four to eight months. New Nymex President J. Robert "Bo" Collins Jr. said then that vendor problems had slowed development of the system's front-end technology and caused the delays. But he still expected eNymex to launch without any meaningful changes to its original product line.
If Nymex combines parts or all of the platform originally intended as eNymex with Access, the new system may end up being known as eNymex.
"eNymex right now is looking for a new mission," said an industry source close to Nymex. "You know how politics works. We don't scrap it, we just rename it. Anything we do electronically is now going to be called eNymex. But the original deal and concept that Rappaport initiated is done."
Nymex's reconsideration comes as the energy-trading world undergoes rapid change. The two most successful online energy trading platforms -- Enron Corp.'s (ENE) EnronOnline, and IntercontinentalExchange, or ICE -- have seen their luck turn - in opposite directions.
Enron Corp. (ENE), which accounts for about 25% of the trade in U.S. power and gas markets, faces questions about its creditworthiness as the Securities and Exchange Commission investigates complicated financial dealings. Enron's possible merger with Dynegy Inc. (DYN), now appears to be in doubt, and energy trading companies are pulling back their exposure to the company.
Enron executes about 60% of its power and gas trades on EnronOnline. When Enron's troubles surfaced last month, Nymex quickly moved to extend its clearing services to over-the-counter natural gas derivatives, a move the trading community saw as an attempt to grab market share.
ICE, on the other hand, is moving ahead with plans to capture more energy trade on its electronic format. ICE closed a deal this summer to acquire the London-based International Petroleum Exchange - Nymex's chief competitor and Europe's largest traditional energy exchange. It plans to move all IPE energy contracts to its Internet-based system and offer clearing services for some over-the-counter contracts.
Nymex is exploring alliances that could give it a better footing in the new competitive landscape. One idea under review is a joint venture with the Chicago Mercantile Exchange to offer e-mini contracts for Nymex products on CME's Globex electronic-trading system, the person close to Nymex said.
Nymex officials wouldn't confirm whether they're talking with the CME, but they said the relationship between the exchanges is a warm one.
"Nymex is always open to strategic alliances," Jacobovits said. "There's nothing we've agreed to at this point, but we have open dialogue with a number of exchanges concerning strategic alliances. We have a good relationship with the Chicago Merc, and we certainly would be open to working with them."
Shortly after the Sept. 11 terrorist attacks in New York shut down the Nymex trading floor, the CME said it would be willing to offer Nymex products on its Globex system until Nymex resumed operations, Jacobovits said.
-By Stephen Parker, Dow Jones Newswires; 201-938-4426; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Woes May Endanger Plans For Mozambique Steel Proj
11/23/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
MAPUTO, Mozambique (AP)--The recent downturn in fortunes for U.S. energy company Enron Corp. (ENE) may quash hopes for the construction of a natural gas-fueled factory to produce steel slabs for export in Mozambique, officials said Friday.
One of the largest companies in the U.S., Enron is struggling amid potentially new cash-flow and earnings problems. The Houston-based company was to invest $1.1 billion in the Maputo Iron and Steel Project, a factory that once built, was expected to produce two million tons of steel slabs a year.
But Mozambican Prime Minister Pacoal Mocumbi said that the government hoped that, "Enron's current difficulties will not lead to the cancellation of the project."
"My government wants to know from Enron what is going on so that we are not held hostage to a lack of information," Mocumbi said.
No immediate comment was available from Enron officials in Mozambique.
The planned project is part of long-standing efforts to exploit vast natural gas reserves in Mozambique and transport and sell the product into the industrial heartland of South Africa.
Mozambique has two massive gas fields: Temane is operated by the U.S.'s Atlantic Richfield Co., Sasol of South Africa, and Zarara Petroleum of Dubai, while Pande is operated by Enron.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
STOCKWATCH Enron down, Dynegy up on lingering merger uncertainty
11/23/2001
AFX News
(c) 2001 by AFP-Extel News Ltd
NEW YORK (AFX) - Enron Corp shares were lower, while Dynegy Inc was slightly higher in late morning trade on lingering uncertainty about their proposed merger following a news report that Enron's SEC filing last Monday contained details that were not known to acquirer Dynegy, dealers said.
At 11.15 am, Enron shares were trading down 17 cents at 4.84, a decline of 3.3 pct. Dynegy was up 44 cents at 40.20.
The DJIA was up 57.70 points at 9,892.86. The S&P 500 was up 6.24 points at 1,143.27. The Nasdaq composite was up 11.94 points at 1,886.99
Earlier, the Wall Street Journal quoted an unnamed source as saying Monday's SEC filing contained information on the company which was unknown to proposed buyer Dynegy.
Dynegy representatives are planning to work through the weekend evaluating the significance of this information as part of their due diligence on Enron, the paper said. It did not specify the nature of the information.
In the filing, Enron revealed a number of new financial problems including a possible obligation to repay a 690 mln usd note due Nov 27.
On Wednesday, the company said it had received an extension on the repayment until mid-December, which it said was enough time to restructure the debt.
The company also said it was in active talks with its creditors and expected to be able to restructure other debt and remain solvent long enough for the merger with Dynegy to be completed.
Dynegy welcomed the news and said it will push ahead in seeking regulatory approval for the merger. But investors are concerned that the constant surprises in restated earnings and revelations of liquidity problems at Enron may cause Dynegy to walk away from the deal.
UBS Warburg analyst Ronald Barone lowered Enron's fourth-quarter earnings per share estimate to a loss of 25 cents from earnings of 25 cents, arguing that its business will suffer until its liquidity problems are resolved.
The analyst cut his full year estimate to 1.10 usd from 1.60 usd and 2002 estimate to 75 cents from 1.65 cents.
If his figures prove to be correct, they would make Dynegy's current merger exchange terms -- of 0.2685 Dynegy shares for each Enron share owned -- moderately dilutive.
"We reiterate that if the merger with Dynegy were to run into obstacles (or fall through entirely) Enron shares could come under severe pressure as investors may question its ability to sustain liquidity (and normal business activities) for an extended period of time," Barone said in a note. "Under such a scenario, bankruptcy would not be out of the question."
Credit Suisse First Boston analyst Curt Launer was more upbeat, and said the share's decline in recent sessions has been overdone.
"Our industry contacts and discussions with traders indicate that while trading with Enron has slowed, it certainly has not stopped," said Launer.
For Dynegy, the merger with Enron still "represents a dramatic plus," he said.
cl/gc For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
USA: Houston economy seen weathering major layoffs.
By Ellen Chang
11/23/2001
Reuters English News Service
(C) Reuters Limited 2001.
HOUSTON, Nov 23 (Reuters) - Houston's economy, buffered by a broad and diverse tax base, should be able to weather thousands of layoffs from some of the city's major corporations, including energy powerhouse Enron Corp., economists and analysts said.
Financially ailing Enron Corp. , which has 21,000 employees worldwide and is in talks to be bought by Houston-based rival Dynegy Inc. , is the third major employer in the city to announce severe financial problems in recent months. Analysts expect layoffs if the merger occurs.
Continental announced a layoff of 3,000 employees after the Sept. 11 attacks and Hewlett-Packard Co.'s plan to buy Compaq Computer Corp. will, if finalized, result in 15,000 layoffs at the two companies. Compaq also announced 8,000 layoffs worldwide in July.
"It's fair to say that the potential layoffs at Enron and the layoffs at Continental, taken alone, are negative factors, although probably small in the grand scope of the Houston economy," said Phil Scheps, director of Houston's finance and administration department.
Since last month when Enron became a target of a Securities and Exchange Commission investigation into financial dealings with partnerships, the energy giant's market share has steadily eroded.
While neither Enron nor Dynegy have given any indication of the number of layoffs that could hit Houston, Barton Smith, director of the Institute for Regional Forecasting at the University of Houston, said the layoffs "will be spread out over a long period of time and will not be excessive."
Robin Kapiloff, an analyst at Moody's Investors Service, said the city's efforts to diversify its economy over the past decade will protect its revenue collections, even as some of the city's biggest employers suffer. "We're watching to see where things go now," she said.
Alex Fraser, a director at Standard & Poor's, said the ratings agency isn't concerned about Houston's credit position at this point. "While Enron is certainly a large player and prominent corporation, we're unclear on what the impact would be."
While the fourth largest city in the country experienced a bit of a slowdown since the Sept. 11 attacks, Houston has outperformed the rest of the nation.
With a tax base of $87.3 billion in 2001, Houston is also buffered by the Texas Medical Center, the city's largest employer. Next year the city's tax base is estimated to grow to $95 billion.
Still, the national recession, energy price weakness in general, and the initial loss of consumer confidence related to the attacks has caused the city to reduce its estimate of sales tax growth to 1.5 percent from 5 percent. That revised estimate equals a $13 million reduction in the city's $1.4 billion budget.
But the city's property tax revenue has not been affected. Only a small change in property tax collections is expected in 2002 because valuations are based on Jan. 1 data and for most of 2001, real estate growth was very large, Scheps said.
While recent economic indicators appear positive, and consumer confidence has quickly rebounded, a better read on the strength of Houston's tax revenue collections will be available in February when the city receives data for the December holiday season, Scheps said.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Dabhol Pwr Confirms Arbitrator Panel Mtg In Singapore Sat
11/23/2001
Dow Jones International News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
NEW DELHI -(Dow Jones)- An official from India's Dabhol Power Co. confirmed Friday that a panel of arbitrators will meet in Singapore Saturday to discuss international arbitration proceedings initiated by DPC against Maharashtra state government.
Dabhol, a 2,184 megawatt power project in the western Indian state of Maharashtra, is a unit of the U.S.-based energy company Enron Corp. (ENE).
Dabhol Power Co. initiated the arbitration against the state government for not honoring its guarantees on power bills due for December 2000 and January, following Maharashtra State Electricity Board's failure to meet payments.
The Singapore meeting is likely to be followed by the actual arbitration process in the London court, according to a Friday report in the Hindu Business Line daily.
The panel, which has been appointed by DPC and the Maharashtra state government, includes an independent observer.
-By Himendra Kumar; Dow Jones Newswires; 91-11-461-9426; [email protected]
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron SEC filing contained information Dynegy was unaware of - report
11/23/2001
AFX News
(c) 2001 by AFP-Extel News Ltd
NEW YORK (AFX) - Monday's SEC filing by Enron's Corp contained information that proposed buyer Dynegy Inc had not known about, the Wall Street Journal quoted a person familiar with the merger plans as saying.
Dynegy representatives plan to work through the weekend evaluating the importance of this new information as part of the company's due diligence on Enron, the source said, without specifying what the new information was.
In the filing, Enron disclosed hundreds of millions of dollars of potential additional write-offs as well as the possibility that its weakening financial condition could force it to repay more than 2 bln usd in loans by the end of the year.
Dynegy announced Wednesday that it is working to accelerate regulatory approvals required to complete the acquisition in accordance with the previously announced agreement.
The Journal quoted analysts as saying Dynegy is coming under increasing pressure to renegotiate or walk away from the deal.
It also cited Fitch director Ralph Pellecchia as saying that, without the Dynegy acquisition and continued support from its bankers and customers, an Enron bankruptcy-court filing "is highly possible".
jms For more information and to contact AFX: www.afxnews.com and www.afxpress.com
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Dynegy's Decision to Buy Enron Hits Crossroads Amid Rising Financial Woes
11/23/2001
Dow Jones Business News
(Copyright (c) 2001, Dow Jones & Company, Inc.)
Even as it reiterated its intention to purchase Enron Corp., Dynegy Inc. is coming under increasing pressure to renegotiate or walk away from the multibillion-dollar deal, Friday's Wall Street Journal reported.
The pressure is stemming from the continuing slide in the price of Enron (ENE) shares and the mounting financial problems at the Houston energy-trading company, the nation's biggest marketer of electricity and natural gas. During the past month, Enron has taken a $1 billion write-off of assets, revised downward the earnings of the past several years and taken a $1.2 billion reduction in shareholder equity.
The problems have been due largely to dealings Enron had with private partnerships, run by some of its own executives, under investigation by the Securities and Exchange Commission. In an SEC filing Monday, Enron disclosed hundreds of millions of potential additional write-offs as well as the possibility that its weakening financial condition could force it to repay more than $2 billion in loans by the end of the year.
As of 4 p.m. Wednesday in New York Stock Exchange composite trading, Enron shares fell $1.98, or 28%, to $5.01 each after having dropped 23% Tuesday. In excess of 115 million shares traded Wednesday, more than four times the volume of any other Big Board stock. Enron's bonds also again traded sharply lower, market observers said.
The turmoil spilled over to Dynegy's stock, which also was among the most actively traded on the New York Stock Exchange. As of 4 p.m. Wednesday, Dynegy (DYN) shares fell $1.94 to $39.76 each.
On Wednesday, Dynegy issued a statement in which Chairman and Chief Executive Chuck Watson said his company was working "to accelerate the regulatory approvals required to complete the merger in accordance with the previously announced agreement" though it continued to perform "due diligence" on Enron.
Under the merger agreement, Dynegy has opportunities to renegotiate or walk away from the deal if Enron's financial and legal problems become severe enough. However, some observers said it can be difficult to invoke these so-called material adverse change clauses. They point to a decision earlier this year by a Delaware Chancery Court judge who forced Tyson Foods Inc. to complete a planned purchase of IBP Inc. even though Tyson, a Springdale, Ark., food-products company, had wanted to cancel the transaction because of a drop in IBP's earnings and accounting problems at an IBP unit.
Dynegy officials didn't return calls seeking comment. To complete the deal, two-thirds of Dynegy shareholders and a majority of Enron shareholders would have to give their approval. No dates for those votes have been set.
One person familiar with the merger plans said the SEC filing Monday by Enron contained information Dynegy hadn't known about. Dynegy representatives planned to work through the weekend evaluating the importance of this new information as part of the company's due diligence, this person said. It couldn't be determined what the new information was.
The merger agreement, announced Nov. 9, calls for Dynegy to exchange 0.2685 share for each of Enron's roughly 850 million fully diluted shares, giving the purchase a value of about $9 billion at Dynegy's current stock price. However, from a price standpoint, the deal is appearing less attractive to Dynegy.
On the day of the merger announcement, Enron shares were trading at about $8.63 each, or about 83% of the purchase price under the exchange ratio. As of Wednesday, Enron's market price was only about 47% of the merger-formula price. Such a sharp deterioration is unusual following a merger announcement, when the stock price of the company being acquired generally begins trading relatively close to the offering price.
Sentiment among Wall Street analysts also is turning against the merger. Initially, many analysts lauded the merger as a move that would rescue Enron and provide a major boost to Houston-based Dynegy. Dynegy and Enron officials have predicted that the merger, supposed to be completed late next year, would significantly and immediately increase Dynegy's earnings.
Now analysts are challenging that assumption. Ron Barone, managing director at UBS Warburg LLC, said he believes that because of Enron's financial problems, a combined company would actually have lower earnings next year than Dynegy would have by itself. Mr. Barone said he thinks a "likely scenario" is that the merger formula will be renegotiated sharply down to about 0.15 Dynegy share for each Enron share.
Copyright (c) 2001 Dow Jones & Company, Inc.
All Rights Reserved.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business; Financial Desk
Employees' Lawuit Says Enron Hurt Retirement Funds Courts: The suit claims the energy firm urged workers to invest in company stock just before it plunged.
From Associated Press
11/23/2001
Los Angeles Times
Home Edition
C-2
Copyright 2001 / The Times Mirror Company
HOUSTON -- Two Enron Corp. workers are suing the company, claiming it endangered their retirement funds.
The lawsuit, filed in federal court in Houston under the Employee Retirement Income Security Act, asserts that Enron encouraged the employees to invest more heavily in company stock just before the stock tanked. The lawsuit was filed by Portland, Ore., utility lineman Roy Rinard and co-worker Steve Lacey.
Enron shares have plunged more than 90% over the last several months since the departure of the company's chief executive and an accounting controversy that prompted the firm to restate its earnings since 1997, eliminating more than $580 million of reported income.
Steve Berman, managing partner for the law firm of Hagens Berman in Seattle, said Enron touted the value of its shares and encouraged employees to put their entire portfolio into Enron stock.
Enron officials didn't emphasize the risk and instead painted the situation as positive, especially when the company's stock began to slide, said Berman, who is hoping to get the suit certified as a class action.
Berman wants to prove that the company's 401(k) plan executives failed to act responsibly when they knew about serious business problems. He's also hoping to break new legal ground with his case.
The lawsuit is patterned after a case against Lucent Technologies in which Lucent employees sued their employer this summer for matching their 401(k) contributions with company stock that tanked. That case is still in litigation.
Earlier this year, Rinard, 54, had $472,000 in his Enron 401(k) plan, which had been growing for 21 years.
Today, his plan is worth about $40,000. Enron gives its employees their 401(k) match in company stock.
In January, Enron was trading for $84.87. Wednesday it closed at $5.01 a share on the New York Stock Exchange.
The problem was compounded when many employees, including Rinard, saw Enron's stock doing so well that they decided to put their entire account into Enron stock.
Enron executives had talked about how the stock price was poised to climb above $100 a share, Rinard told the Houston Chronicle.
In addition, Enron employees were not allowed to make trades in the 401(k) plan for about a month, starting Oct. 17. That was the day after Enron surprised the market with the news it was taking a $1.01-billion after-tax third-quarter charge to get out of bad investments.
Enron officials, who could not be reached, have said they had planned the lockdown for several months because the company was changing plan administrators.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Business
Portland utility's fate tied to Enron's future
Nigel Hunt
Reuters
11/23/2001
The Seattle Times
Fourth
C2
(Copyright 2001)
LOS ANGELES -- Oregon's largest utility, Portland General Electric, faces an uncertain future as its parent Enron fights for its life amid a deepening financial crisis, industry experts said Wednesday.
Another Oregon utility, Northwest Natural Gas, is due to file next week with state regulators for approval to take over Portland General. Those same regulators could soon be faced with a similar application from Dynegy as part of a still-pending deal to acquire cash-strapped Enron.
If Enron were to file for bankruptcy before Portland General has been sold, its future could be thrown into the hands of a Texas bankruptcy court, experts said.
Northwest Natural Gas agreed Oct. 8 to acquire Portland General for around $1.8 billion, plus about $1.1 billion in assumed debt and preferred stock. A month later, Enron announced it had agreed to be acquired by Houston-based Dynegy.
"We've been watching this from afar to see how it could impact that sale (Portland General's acquisition by Northwest Natural Gas)," said Roy Hemmingway, chairman of the Oregon Public Utility Commission.
"We have authority if that sale doesn't go through to rule on whether Dynegy can take over Enron," he said.
Ratings agency Fitch last week cut Portland General's debt ratings due to "uncertainty at its parent Enron." Wednesday, the same agency said a bankruptcy filing by Enron was "highly possible" if the proposed rescue by Dynegy collapses.
"We haven't seen any credit problems so far, and Portland General isn't in the market (buying power for its customers) right now in a big way," Hemmingway said.
However, he noted that, "If they really were unable to conduct their business because they were not creditworthy we would have to use whatever instruments are available" to make sure service to customers is maintained. Earlier this year, California was forced to take over buying power for the PG&E unit of Pacific Gas & Electric and Edison International subsidiary Southern California Edison after the two utilities saw their credit ratings cut to junk status.
Federal regulators have insisted the sellers of wholesale power have the right to sell to a creditworthy buyer.
California's largest utility, Pacific Gas & Electric, chose to file for bankruptcy because of its mounting debt. In a parallel, consumer advocates fear the fate of the biggest utility in neighboring Oregon could end up in the hands of a bankruptcy judge.
Hemmingway said the Oregon Public Utility Commission recently had granted Portland General a rate increase and the utility has "plenty of cash flow currently to handle its obligations."
"This is nothing like California where that was not the case," he said.
Northwest Natural Gas, which is also based in Portland, has set a target of filing next Wednesday with the Oregon commission to take over the utility, spokesman Steve Sechrist said.
"We have no concerns whatsoever at this point. The deal is moving forward and there is no reason we can see why it should not" he said, noting the delay to the filing was the result of the complexities of the acquisition.
Jason Eisdorfer, a lawyer for the Citizens' Utility Board of Oregon, said major questions would be raised if Enron went under before the deal were completed.
"Would the (bankruptcy) judge let the terms of the agreement go forward. I don't know. There is a risk that Portland General will become an asset to be disposed of under bankruptcy," Eisdorfer said.
Copyright [copyright] Seattle Times Company, All Rights Reserved. You must get permission before you reproduce any part of this material.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
Enron Shares and Bonds Fall on Concern About Takeover (Update5)
2001-11-23 15:55 (New York)
Enron Shares and Bonds Fall on Concern About Takeover (Update5)
(Updates with Dynegy comment in fifth paragraph.)
Houston, Nov. 23 (Bloomberg) -- Enron Corp. shares and bonds
fell for a third day on concern the company's weakened financial
condition and plunging stock price may lead Dynegy Inc. to try to
cancel or rework a takeover of the biggest energy trader.
Shares of Enron, the most-active U.S. stock, dropped
30 cents, or 6 percent, to $4.71. They fell 45 percent Tuesday and
Wednesday after Enron said it may have to pay more than $9 billion
in debt due by 2003. Enron 6.4 percent bonds due in July 2006 were
bid at 55 cents on the dollar, down from 62 cents on Wednesday,
traders said.
Enron shares are trading at less than half the value of
Dynegy's offer, which shows investors are questioning whether the
buyout will be completed on the terms agreed to two weeks ago.
Enron's financial woes may prove to be a drag on Dynegy's earnings
next year if the transaction is completed, analysts said.
``There are continued doubts about the deal,'' said UBS
Warburg analyst Ronald Barone, who rates Dynegy a ``strong buy''
and doesn't own shares in either company. ``Enron's earnings
aren't what they used to be because they've lost trading business.
Given that, Dynegy has an opportunity to renegotiate the price.''
Dynegy spokesman John Sousa said the company ``remains
optimistic for the potential of the merger.'' Enron agreed Nov. 9
to the takeover, now valued at about $23 billion in stock and
assumed debt, after a financial crisis threatened it with
bankruptcy.
On Wednesday, Enron got a three-week reprieve from lenders on
a $690 million note due next week, giving the company more time to
restructure its finances. Dynegy Chief Executive Officer Chuck
Watson said he was ``encouraged'' by the commitment to extend the
note payment, as well as the closing of a $450 million credit
facility, and that Dynegy remained committed to the purchase.
More than 40 million Enron shares changed hands today, almost
twice their three-month daily average, in a session shortened
because of the Thanksgiving holiday. Enron was the most-active
U.S. stock on Wednesday, with 116 million shares traded. Dynegy
shares rose 64 cents to $40.40 today.
Less Than $2 Billion
In a Securities & Exchange Commission filing Monday, Enron
said it has less than $2 billion in cash and credit lines left. If
the company's cash reserves run too low, Enron is in danger of
seeing its credit rating cut below investment grade. That would
trigger $3.9 billion in debt repayments for two affiliated
partnerships.
Enron's bankers have met with unidentified investors,
including leveraged buyout firms and two industrial companies, in
a bid to shore up the energy trader's finances with an injection
of as much as $2 billion, the New York Times reported yesterday,
citing unidentified executives close to the companies.
Enron spokeswoman Karen Denne said the company is seeking
$500 million to $1 billion. Enron needs to raise $1 billion to
$1.5 billion in cash within the next 45 days, said Sean Egan,
managing director of Egan-Jones Rating Co.
``Their trading operation has burned through cash faster than
the market had expected,'' Egan said.
Trading Business
Traders including Mirant Corp. and Aquila Inc. have said they
shifted transactions away from Enron after its plunging stock
price prompted concerns about creditworthiness. Enron has said
fourth-quarter earnings would be reduced partly by a drop in its
energy-trading business.
Watson said after the Enron buyout was announced he expected
it to increase 2002 earnings by 35 percent. Analysts said that
can't happen unless Enron recovers lost trading business. Several
have cut their 2002 estimates for Enron. The average estimate of
analysts polled by Thomson Financial/First Call for next year is
now $1.68 a share, down from $2.14 a month ago.
Dynegy can cancel or renegotiate if Enron can't meet debt
payments, its trading market collapses, banks demand more
collateral or raise the interest rate for loans, Enron's credit
rating is cut to junk, the SEC cites Enron for securities fraud,
or if Enron's legal liabilities including shareholder suits exceed
$3.5 billion, Egan said.
Will Dynegy Renegotiate?
Dynegy officials were considering whether to try and
renegotiate terms of its agreement with Enron, according to the
New York Times report. Dynegy and Enron are both based in Houston.
``Dynegy investors would like to see the company negotiate a
lower price for Enron,'' said Credit Lyonnais securities analyst
Gordon Howald, who rates Dynegy ``buy'' and owns no shares.
Under the Nov. 9 terms, Enron investors would receive 0.2685
Dynegy share for each share held. At today's closing price, that
values Enron stock at $10.85. A year ago, Enron traded at almost
$80.
Investors worry that a cancellation of the merger would push
Enron into bankruptcy.
``The market is saying there seems to be no obvious Plan B
for Enron and that is what has investors concerned,'' said Eric
Bergson, who helps manage $9 billion of fixed-income assets at
Northern Trust Co. in Chicago. ``The lower bond prices go, what
the market is saying is that there's less chance of this deal
going through.''
--Jim Polson in Princeton, (609) 750-4658 or [email protected]
KKR, Blackstone Are Among Likely Enron Investors, Analyst Says
2001-11-23 16:20 (New York)
KKR, Blackstone Are Among Likely Enron Investors, Analyst Says
Houston, Nov. 23 (Bloomberg) -- Kohlberg, Kravis Roberts &
Co., the Blackstone Group and the Carlyle Group are among the
likely candidates to be approached by Enron Corp. for a private
equity investment to shore up the company's balance sheet, said
industry analyst David Snow of PrivateEquityCentral.Net.
The firms have cash on hand and have invested in energy
companies in the past. An investment in Enron may look attractive
now that its shares have plunged by 94 percent this year.
``Many of the larger, more traditional buyout firms would
find this deal attractive,'' said Snow. ``This is a company that
has real assets that is down in the dumps and has need of capital
when capital is scarce.''
Enron's bankers met recently with leveraged buyout firms and
two industrial companies to seek an investment, the New York Times
reported, citing executives close to the companies. Enron's stock
fell for a fifth day in six on concern the company's weakened
financial condition may lead Dynegy Inc. to try to cancel or
rework its planned purchase of the rival Houston company.
Investors may inject as much as $2 billion under arrangements
that would protect them from further declines in Enron's stock,
the Times said. The new investments would be in Enron's
Transwestern Pipeline, which connects natural-gas fields in Texas
to the California market, the newspaper said.
J.P. Morgan Chase & Co. and Citigroup Inc. agreed to terms
that give each of them a $250 million equity stake as part of a
transaction to be completed Monday, officials told the newspaper.
Buyout firms sometimes make collective bids, pooling their
money and distributing the risk. The firms also like to invest in
industries that are out of favor with public investors and to do
so in partnership with corporate investors, like Dynegy, said
Snow.
``You need to know enough about the (energy) business to know
whether it's a good deal, and then you need to be confident in the
Dynegy team,'' he said.
KKR
KKR, the second-biggest private equity firm with $24 billion
in assets, declined comment on Enron through spokeswoman Molly
Morse of Kekst & Co.
The New York-based firm invested more than $1.3 billion in
DPL Inc., a utility in Dayton, Ohio, and will receive $550 million
of that back from the company after DPL sold $700 million of bonds
in August.
``KKR very much gets involved in deals where there's a
corporate partner and they don't have a majority stake,'' Snow
said. ``They would possibly hold it for years, because they like
slow exits.'' KKR is also a possible candidate because it recently
raised a new $5 billion buyout fund.
Any LBO firm would need assurance about how it will get its
money back on an Enron investment, said Snow.
``The thing they have to be cautious about is the exit,'' he
said. ``If there's a chance Dynegy would agree to buy out (the LBO
firms') stake over time, that would give some confidence. But if
the only exit is the public market, that's a little bit dicier.''
Any private investment also must be large enough to make a
meaningful difference: Enron's market value is $3.7 billion and
Dynegy has proposed paying $23 billion in stock and assumption of
debt. That means the private equity portion would have to approach
$1 billion or more.
The 20 largest private equity firms have assets of more than
$5 billion under management each, according to Asset Alternatives,
a Wellesley, Massachusetts industry research firm. Still, many of
those firms don't have enough free capital to undertake an
investment of $500 million or more.
An announcement of an investment may come soon, analysts say.
Energy trading firms such as Mirant Corp. and Aquila Inc. are
doing fewer trades with Enron because of concern that the company
won't be able to finance its business. Enron shares have fallen by
almost half in the past three sessions.
``They're going to need this investment within 30 to 45
days,'' said Sean Egan of Egan-Jones Ratings Co. ``They're
spiraling downward and they're going to need some more beyond the
$1.5 billion contributed by'' ChevronTexaco Corp., which owns 26
percent of Dynegy.
Other LBOs
Here's a rundown of the other most likely private equity
partners for Enron:
--The Carlyle Group could invest through a $1 billion energy
fund it's raising, as well as its general U.S. buyout fund, said
Snow. Carlyle's vice president for corporate communications, Chris
Ullman, declined to comment.
--Blackstone, which has a history of investing alongside
other corporate partners, recently closed on a $4 billion buyout
fund. Blackstone spokesman John Ford declined to comment on
whether Enron had approached the firm.
--Hicks, Muse, Tate & Furst, which is based in Texas like
Dynegy and Enron. Hicks Muse counts Triton Energy Ltd., an energy
exploration company, among its best investments. The firm recently
raised about $1.5 billion for new investments, about one-third of
what it had hoped to raise, and has said it will focus on ``back-
to-basics'' investments in food, manufacturing and media. Mark
Semer, a spokesman for Hicks Muse who also works for Kekst,
declined comment on Enron.
Spokesmen for two other firms, Warburg Pincus & Co. and
Credit Suisse First Boston's private equity arm, didn't return
calls seeking comment.
--Randy Whitestone in the New York newsroom (212) 940-1805
Microsoft MSN Fast Web Access Expansion Slowed by Enron Suit
2001-11-23 11:59 (New York)
Microsoft MSN Fast Web Access Expansion Slowed by Enron Suit
Redmond, Washington Nov. 23 (Bloomberg) -- Microsoft Corp.'s
plans to expand its MSN high-speed Internet service have been
delayed by a lawsuit from Enron Corp., which could cost the
company customers during the holiday season, analysts said.
MSN had planned to have fast Internet access over telephone
lines available, with help from energy trader Enron, in 45 markets
starting Oct. 25. Instead, the service is now on sale in about 30
markets, said MSN Product Manager Lisa Gurry.
The latest delay follows a string of apparent bad luck that
has delayed the rollout of Microsoft's fast Internet access
service over the last year. The holidays are typically a popular
time for customers to buy so-called broadband access, often along
with new personal computers purchased or received as gifts.
``They have a track record of picking broadband partners that
don't quite work out,'' said Joe Laszlo, senior analyst at market
researcher Jupiter Media Metrix Inc. ``It definitely hurts them
with customers who want broadband right now.''
Subscribers to fast Internet access services are expected to
grow fourfold by 2006, according to estimates by Jupiter Media
Metrix, while sales of slower Internet access plans decline. Fast
Internet service over phone lines uses digital subscriber line, or
DSL, technology.
On Track
Gurry said Redmond, Washington-based Microsoft is still on
track to have fast access for sale by the end of March to 90
percent of the 45 million to 50 million households that have DSL
available in their neighborhoods.
``There is very little growth left in the dial-up access
space for Microsoft or anybody, which leaves them with broadband
as the only potential growth area for the MSN access business,''
said Youssef Squali, an analyst at FAC/Equities, who rates
Microsoft Internet competitor AOL Time Warner Inc. a ``buy.''
Microsoft also wants to deliver consumer services like music
and video and software updates, which require fast Internet access
for smooth downloads.
The company originally began a service with NorthPoint
Communications Group Inc., a now-bankrupt provider of fast Web
access. Microsoft has also had difficulty finding partners among
cable companies who use their networks for high-speed service.
Now Houston-based Enron, which agreed in June to provide the
backbone for a nationwide expansion of MSN's service, is suing.
Enron claimed in its lawsuit that it isn't required to deliver
broadband services if Microsoft hasn't first provided a billing
and ordering system that the biggest software company agreed to
build.
Enron, which is being acquired by rival Dynegy Inc., recently
disclosed debts of $9.15 billion due by 2003 and restated earnings
for four years.
Slower Expansion
MSN has been selling high-speed access in 14 states under
partnership with Qwest Communications International Inc. for the
last few months. MSN has begun the planned service expansion
outside of those states by working with Enron competitors that MSN
Marketing Director Bob Visse declined to name. The company is also
talking to Enron, he said. Enron didn't return calls for comment.
Because of the Enron suit the expansion is moving slower than
expected, Visse said. Since Oct. 25, MSN has added service in Los
Angeles, San Francisco, San Diego and Sacramento, California, and
Houston, Dallas, San Antonio and Austin, Texas, giving Microsoft a
total of about 30 markets rather than 45. Plans to expand
marketing are also on hold, Visse said.
``It is very unfortunate that we are in the position we are
in,'' said Microsoft Chief Executive Steve Ballmer.
Top U.S. Internet service provider America Online, owned by
AOL Time Warner Inc., has also been slow to get into the high-
speed market, analysts said.
That doesn't mean Microsoft is in the clear. Laszlo said both
MSN and AOL might pay for their sluggishness with tougher
competition from third-place EarthLink Inc. and from cable and
telephone companies that have more experience selling high-speed
Internet access.
America Online has more than 31 million subscribers to MSN's
7 million. EarthLink Inc. has 4.77 million subscribers. Laszlo
doesn't think MSN or America Online can build the kind of lead in
the high-speed market that America Online has in the slower dial-
up access market.
`Not a Permanent Blow'
Not that anyone need worry about Microsoft. MSN will be able
to expand its fast Internet access business even with the delays,
Laszlo said.
``They are already late in the broadband market so this means
they get a little later,'' he said. ``But broadband will continue
to grow over the next few years and this is definitely not a
permanent blow.''
Analysts also say Microsoft still needs to find a cable
partner that will let MSN use its network to sell fast access over
cable lines. Cable is more popular than DSL with customers looking
for fast Web service. The five largest cable providers control 51
percent of the U.S. high-speed Internet market. The five largest
sellers of access via phone lines and DSL technology account for
about 33 percent, according to market researcher ARS Inc.
Microsoft MSN Vice President Yusuf Mehdi said last month the
company may be interested in an investment in AT&T Corp.'s cable-
television unit, which AT&T is considering selling. Ballmer
declined to comment on Microsoft's plans.
--Dina Bass in Seattle (206) 521-5981, or [email protected]
Metropolitan Desk; Section A
Corrections
11/22/2001
The New York Times
Page 2, Column 4
c. 2001 New York Times Company
Because of an editing error, an article in World Business yesterday about the Enron Corporation's prospects for selling its interest in the Dabhol Power project in India misstated the size of its stake. It is 65 percent, not 70.
Copyright ? 2000 Dow Jones & Company, Inc. All Rights Reserved.
|
{
"pile_set_name": "Enron Emails"
}
|
just got your email this morning - call me on Monday.
Have a good weekend!
From: Tana Jones on 03/15/2001 06:04 PM
To: Jennifer deBoisblanc Denny/HOU/ECT@ECT
cc:
Subject: Re: transaction cancellation 3q @ 4q nymex heat cracks with hess
energy trading co on eol on March 15 2001 @ $3.83 and $5.21
Jennifer,
If you're still there give me a call in calgary about this, I'm at
403/974-6745.
Jennifer deBoisblanc Denny
03/15/01 03:01 PM
To: Tana Jones/HOU/ECT@ECT
cc: Mark Taylor/HOU/ECT@ECT, Mary Griff Gray/HOU/ECT@ECT, Sheri
Thomas/HOU/ECT@ECT, Torrey Moorer/HOU/ECT@ECT, Larry Joe Hunter/HOU/ECT@ECT,
Shifali Sharma/NA/Enron, Kim S Theriot/HOU/ECT@ECT, Larry
Gagliardi/Corp/Enron@Enron
Subject: transaction cancellation 3q @ 4q nymex heat cracks with hess energy
trading co on eol on March 15 2001 @ $3.83 and $5.21
Mark,
The customer changed their mind again & wants an termination letter produced
for the 2 deals attached.
Tana,
Please let me know if you need any other information in order to create the
documentation neccessary.
Thank you for your help.
Jennifer
3-5824
---------------------- Forwarded by Jennifer deBoisblanc Denny/HOU/ECT on
03/15/2001 02:41 PM ---------------------------
Larry Gagliardi@ENRON
03/15/2001 02:38 PM
To: Jennifer deBoisblanc Denny/HOU/ECT@ECT
cc:
Subject: transaction cancellation 3q @ 4q nymex heat cracks with hess energy
trading co on eol on March 15 2001 @ $3.83 and $5.21
Hetco and Enron have mutually agreed to cancel these transactions and not
net them out via eol. Sorry for any confusion. Please send them the
apropriate paperwork. Thank You
|
{
"pile_set_name": "Enron Emails"
}
|
Dear Don, The Washington bureau will have a full plate when we return from Thanksgiving break. Congress returns with many lawmakers urging action on energy legislation before the end of the year. Washington Bureau Chief Peter Cook says there's a long list of legislation ahead of energy in the Democrat-controlled Senate, but Republicans are threatening to force a vote through a filibuster. In turn, Democrats are saying they'll filibuster any energy bill containing a provision to open Alaska's Arctic National Wildlife Refuge to drilling. The legislation battle continues next week. Peter also says the Washington bureau will continue to follow the FERC's major decisions regarding how it assesses market power. The Commission announced a major change this week that will impact many of the large and small utilities across the country. Also next week, we'll see what Energy Daily Publisher Llewellyn King has to say about Pat Wood's performance as Chairman of the FERC. And rumors are flying about DOE Secretary Spencer Abraham - on Monday, King talks about the whispers he's hearing in Washington. ENL's Gale Smith will have a report from the Houston bureau next week on a Louisiana company that uses rice hulls to create power. Agrilectric Incorporated consumes some of this power, but most of the electricity is sold to an area utility company. We'll have details next week. Also, Houston Correspondent Kim Benestante will bring us coverage from the Alaska Resources Conference taking place next Thursday and Friday. We'll also bring you details on the final report regarding the chosen route of the Arctic natural gas pipeline. The report is due to Alaska's Governor on November 30. We'll hear from Center for Energy Efficiency and Renewable Technologies Executive Director John White next week. ENL's Kym McNicholas will speak with White about his organization's opposition to the state's long-term power contracts. Catch White from the West Coast bureau next week. Closing Prices for Nov. 21, 2001: Crude: $18.96 Unleaded: $0.5273 Heating Oil: $0.5342 Natural Gas: $2.813 Keep in mind things are subject to change at a moment's notice. Occasionally guests have to cancel or change time slots. We'll continue to do our best to keep you updated on future interviews and events. Have a great Thanksgiving break! We'll see you on Monday. Be sure to watch our newscasts every business day - 9 a.m. to 5 p.m. ET, at the top of each hour.
Jay Rickerts, EnergyNewsLive.com Anchor View today's Energy Wrap Video Windows Media Player: 56K | 100K | 300K Real Player: 56K | 100K | 300K (Requires Windows Media Player or Real Player ) Experience all that Williams Energy News Live has to offer! If you are receiving this letter for the first time and wish to continue, subscribe now To stop receiving this letter, unsubscribe now If you are having trouble receiving this e-mail, please let us know or call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST. Comments? Suggestions? Let us know or call (800) WILLIAMS (800-945-5426) weekdays, 7am-7pm CST. Copyright 2001 Williams Energy News Live, LLC. All Rights Reserved.
|
{
"pile_set_name": "Enron Emails"
}
|
I was thinking about trying to play Memorial tomorrow early afternoon. Let me know if you have any interest
|
{
"pile_set_name": "Enron Emails"
}
|
>From: dawn thompson <[email protected]>
>To: priscilla gilbert <[email protected]>, kristi jones
><[email protected]>, DANEL RAYBURN <[email protected]>, Clayton Smith
><[email protected]>, jim thompson <[email protected]>, sonya
>thompson <[email protected]>
>Subject: Fwd: FW: Can You Believe It?
>Date: Tue, 7 Nov 2000 09:52:41 -0800 (PST)
>
>
>Note: forwarded message attached.
>
>
>__________________________________________________
>Do You Yahoo!?
>Thousands of Stores. Millions of Products. All in one Place.
>http://shopping.yahoo.com/
_________________________________________________________________________
Get Your Private, Free E-mail from MSN Hotmail at http://www.hotmail.com.
Share information about yourself, create your own public profile at
http://profiles.msn.com.
--0-1909002904-973619561=:16936--
X-Apparently-To: [email protected] via web4902.mail.yahoo.com
Return-Path: <[email protected]>
X-Track: 1: 40
Received: from 208.3.209.194 (EHLO shcrpx06.wm.com) (208.3.209.194)
by mta413.mail.yahoo.com with SMTP; 07 Nov 2000 07:59:40 -0800 (PST)
Received: by shcrpx06.wm.com with Internet Mail Service (5.5.2650.21)
id <WMCDT32Q>; Tue, 7 Nov 2000 09:56:42 -0600
Message-ID: <077FFAC43D46B643B3666825D0901674FEC043@shcrpx02>
From: "Upchurch, Lisa" <[email protected]>
To: 'Alan' <[email protected]>, 'Allie' <[email protected]>,
'Brynn' <[email protected]>, 'Calvin/Barb' <[email protected]>,
'Carolyn' <[email protected]>, 'Charles' <[email protected]>,
'Chris' <[email protected]>, 'Chris Rucker'
<[email protected]>, 'Clayton' <[email protected]>, 'Danny'
<[email protected]>, 'Dawn' <[email protected]>, 'Derrick'
<[email protected]>, 'Glen' <[email protected]>, 'Jack'
<[email protected]>, "'John D.'" <[email protected]>, "'John M.'"
<[email protected]>, 'Josalyn' <[email protected]>, 'Katie'
<[email protected]>, 'Kim' <[email protected]>,
'Rey' <[email protected]>, 'Sherry' <[email protected]>, 'Steph/Monkey'
<[email protected]>, 'Stoney' <[email protected]>, 'Susan'
<[email protected]>
Subject: FW: Can You Believe It?
Date: Tue, 7 Nov 2000 09:56:25 -0600
X-MS-TNEF-Correlator: <077FFAC43D46B643B3666825D0901674FEC043@shcrpx02>
Return-Receipt-To: "Upchurch, Lisa" <[email protected]>
MIME-Version: 1.0
X-Mailer: Internet Mail Service (5.5.2650.21)
Content-Type: multipart/mixed;
boundary="----_=_NextPart_000_01C048D3.483CD720"
Content-Length: 9780
This message is in MIME format. Since your mail reader does not understand
this format, some or all of this message may not be legible.
------_=_NextPart_000_01C048D3.483CD720
Content-Type: text/plain;
charset="iso-8859-1"
Subject: Fwd: Can You Believe It?
Thought you might like this:
Conveniently Forgotten Facts??
Back in 1969 a group of Black Panthers decided that a fellow Black Panther
named Alex Rackley needed to die. Rackley was suspected of disloyalty.
Rackley was first tied to a chair. Once safely immobilized his friends
tortured
him for hours by, among other things,pouring boiling water on him. When they
got
tired of torturing Rackley, Black Panther member Warren Kimbo took Rackley
outside and put a bullet in his head. Rackley's body was later found
floating in a river about 25 miles north of New Haven, Conn.
Perhaps at this point you're curious as to what happened to these Black
Panthers. In 1977, that's only eight years later, only one of the killers
was
still in jail. The shooter, Warren Kimbro, managed to get a scholarship to
Harvard. He later became an assistant dean at Eastern Connecticut State
College.
Isn't that something? As a '60s radical you can pump a bullet into someone's
head, and a few years later, in the same state, you can become an assistant
college dean! Only in America!
Erica Huggins was the lady who served the Panthers by boiling the water for
Mr. Rackley's torture. Some years later Ms. Huggins was elected to a
California
School Board.
How in the world do you think these killers got off so easy? Maybe it
was in some part due to the efforts of two people who came to the defense of
the
Panthers. These two people actually went so far as to shut down Yale
University with demonstrations in defense of the accused Black Panthers
during
their trial.
One of these people was none other than Bill Lan Lee. Mr. Lee, or Mr. Lan
Lee, as the case may be, isn't a college dean. He isn't a member of a
California
School Board. He is now head of the US Justice Department's Civil Rights
Division.
O.K., so who was the other Panther defender? Is this other notable
Panther defender now a school board member? Is this other Panther apologist
now
an assistant college dean? No, neither! The other Panther defender was,
like Lee, a radical law student
at Yale University at the time. She is now
known as The "smartest woman in the world." She is none other than the
Democratic candidate for the US Senate from
the State of New York----our
lovely First Lady, the incredible Hillary Rodham Clinton.
And now, as Paul Harvey says, you know (the rest of the story).
Pass
this on! She deserves the press................
------_=_NextPart_000_01C048D3.483CD720
Content-Type: application/ms-tnef
Content-Transfer-Encoding: base64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------_=_NextPart_000_01C048D3.483CD720--
|
{
"pile_set_name": "Enron Emails"
}
|
Start Date: 4/14/01; HourAhead hour: 19; No ancillary schedules awarded.
Variances detected.
Variances detected in Energy Import/Export schedule.
Variances detected in SC Trades schedule.
LOG MESSAGES:
PARSING FILE -->> O:\Portland\WestDesk\California Scheduling\ISO Final
Schedules\2001041419.txt
---- Energy Import/Export Schedule ----
$$$ Variance found in table tblINTCHG_IMPEXP.
Details: (Hour: 19 / Preferred: 12.00 / Final: 11.98)
TRANS_TYPE: FINAL
SC_ID: ECTRT
MKT_TYPE: 2
TRANS_DATE: 4/14/01
TIE_POINT: PVERDE_5_DEVERS
INTERCHG_ID: EPMI_CISO_SPP
ENGY_TYPE: WHEEL
---- SC Trades Schedule ----
$$$ Variance found in table tblInt_Interchange.
Details: (Hour: 19 / Preferred: -125.00 / Final: -124.97)
TRANS_TYPE: FINAL
SC_ID: EPMI
MKT_TYPE: 2
TRANS_DATE: 4/14/01
TRADING_SC: SETC
PNT_OF_INTRC: NP15
SCHED_TYPE: ENGY
PURCH_SALE: 1
DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
Details: (Hour: 19 / Preferred: 25.00 / Final: 24.92)
TRANS_TYPE: FINAL
SC_ID: EPMI
MKT_TYPE: 2
TRANS_DATE: 4/14/01
TRADING_SC: PGAE
PNT_OF_INTRC: NP15
SCHED_TYPE: ENGY
PURCH_SALE: 2
DEAL_NO: 1
$$$ Variance found in table tblInt_Interchange.
Details: (Hour: 19 / Preferred: -60.00 / Final: -59.98)
TRANS_TYPE: FINAL
SC_ID: EPMI
MKT_TYPE: 2
TRANS_DATE: 4/14/01
TRADING_SC: NCPA
PNT_OF_INTRC: NP15
SCHED_TYPE: ENGY
PURCH_SALE: 1
DEAL_NO: 1
|
{
"pile_set_name": "Enron Emails"
}
|
Here is the generation report for the Riverside Unit
If you have any questions, please contact me
Jim Reyes
503-464-8298
|
{
"pile_set_name": "Enron Emails"
}
|
You should have edit access now. Why don't you go and take a look.
----- Forwarded by Tana Jones/HOU/ECT on 04/23/2001 01:19 PM -----
ARSystem <[email protected]>
04/23/2001 10:01 AM
To: "[email protected]" <[email protected]>
cc:
Subject: Request Closed: Access Request for [email protected]
The request has been completed with all resources requested either completed
or rejected. You can view the details of the request by clicking
http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000030521&Page=
MyReq.
|
{
"pile_set_name": "Enron Emails"
}
|
Steve:
I know that Tana has already answered your immediate question.
I am responding because Enron Corp. is also asking for an ISDA. I am the
Enron Corp. lawyer. Can you also send a draft master to me?
Thanks. Sara
Sara Shackleton
Enron North America Corp.
1400 Smith Street, EB 3801a
Houston, Texas 77002
713-853-5620 (phone)
713-646-3490 (fax)
[email protected]
[email protected]
02/08/2001 12:49 PM
To: [email protected], [email protected]
cc:
Subject: Enron Capital & Trade Resources International Corp
Hi Sara/Tana--
I've been told to get started on Enron Capital & Trade Resources
International Corp. ISDA. Is this handled out of Houston or in UK (or
otherwise)?
Thanks and regards,
Steve
|
{
"pile_set_name": "Enron Emails"
}
|
---------------------- Forwarded by Judy Hernandez/HOU/ECT on 02/03/2000
10:50 AM ---------------------------
Leslie Smith
02/03/2000 10:32 AM
To: Lisa Shoemake/HOU/ECT@ECT, Judy Hernandez/HOU/ECT@ECT, Judy
Walters@ccmail@ECT, Amber Limas/HOU/ECT@ECT, Angela Barnett/HOU/ECT@ECT, Eve
Puckett/Corp/Enron@ENRON, Michelle Neville/HOU/ECT@ECT, Regina
Blackshear/Corp/Enron@ENRON
cc:
Subject: [Fwd: Check out Butterflies]
---------------------- Forwarded by Leslie Smith/HOU/ECT on 02/03/2000 10:30
AM ---------------------------
floyd&lisa <[email protected]> on 02/02/2000 11:29:48 PM
Please respond to [email protected]
To: *DARLENE <[email protected]>, *DONNA <[email protected]>, *DOROTHY
<[email protected]>, *JULIE <[email protected]>, Cheyenne
<[email protected]>, JOHNNY&MARGARET <[email protected]>, Leslie
Smith/HOU/ECT@ECT, Lorraine Buskey <[email protected]>, PAULA
<[email protected]>, Tammie Bolling <[email protected]>
cc: [email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], [email protected], [email protected],
[email protected], [email protected], [email protected], [email protected],
[email protected], Anna <[email protected]>
Subject: [Fwd: Check out Butterflies]
give the page time to load.....takes a little while
> <A HREF="http://www.tonner.org/butterflies.html">Click here:
Butterflies</A>
|
{
"pile_set_name": "Enron Emails"
}
|
fine with me
Pattye Sanders
12/15/2000 04:54 PM
To: Larry L Izzo/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT, Willie
Williams/ENRON_DEVELOPMENT@ENRON_DEVELOPMENT
cc: Steven J Kean/NA/Enron@Enron, Cindy Olson/Corp/Enron@ENRON
Subject: External Job Fair
Urgent Reply Requested
Here are the engineering companies we will begin contacting Tuesday, December
19, to participant in our external job fair. Please let me know before we
begin making calls at noon on Tuesday if there are any of these companies you
do not want included.
ABB Lummus Global Inc.
Bechtel Corporation
Black & Veatch
Dresser Engineering Company
Fluor Daniel, Inc.
Foster Wheeler Corporation
Halliburton
J. Ray McDermott Engineering
Jacobs Engineering Group Inc.
Kvaerner Process
Parsons Energy & Chemicals Group Inc.
Raytheon Engineers & Constructors
S & B Engineers & Constructors
Schlumberger
Stone & Webster Engineering Corporation
Technip USA Corporation
3D/International
The external job fair will be held at the Doubletree, Granger B Room, on
Wednesday, January 10, from 1:30 to 3:30. If you have any questions, my new
extension is 56871.
|
{
"pile_set_name": "Enron Emails"
}
|
Mark: Do you have time this afternoon or tomorrow morning to discuss this
with me? THanks, Lisa
James D Steffes
06/07/2001 12:34 PM
To: Mark Taylor/HOU/ECT@ECT, Lisa Yoho/NA/Enron@Enron, Chris
Long/Corp/Enron@ENRON, Linda Robertson/NA/Enron@ENRON
cc:
Subject: FERC Staff Concerns on the Gas Side
See end of first paragraph.
Jim
---------------------- Forwarded by James D Steffes/NA/Enron on 06/07/2001
12:33 PM ---------------------------
From: Joe Hartsoe on 06/07/2001 12:26 PM
To: James D Steffes/NA/Enron@Enron, Leslie Lawner/NA/Enron@Enron, Rebecca W
Cantrell/HOU/ECT@ECT, Sarah Novosel/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON
cc: Stanley Horton/Enron@EnronXGate, Steven J Kean/NA/Enron@Enron, Shelley
Corman/Enron@EnronXGate, Drew Fossum/Enron@EnronXGate, Mary Kay
Miller/ET&S/Enron@ENRON, Ray Neppl/Enron@EnronXGate, Robert
Kilmer/Enron@EnronXGate
Subject: FERC Staff Concerns on the Gas Side
Folks --
Had a good discussion with a Senior Staff member at FERC in preparation for
the Pipelines Outreach meeting next week. He told me that the two issues on
the gas side that are of primary concern to the Commission are 1) Marketing
Affiliates and potential abuse on the pipelines (Think El Paso); and 2) the
failure of CFTC and/or SEC to more closely oversee derivative trading.
Apparently, staff is considering whether to ban all transactions by marketers
on an affiliated pipeline, and some form of filing/reporting requirement to
better understand the derivative market. Due to a lack of information, some
at FERC are assuming the worst.
I believe these proposals are in the formative stage and have not been
presented to Senior Staff or Commissioners as a recommendation. I think
Staff would appreciate some information (ammo) to refute the need to further
regulate marketing affiliates or delve into derivative trading.
INGAA filed comments and a study concerning Marketers' use of affiliated
pipelines in response to the Marketing Affiliate Conference at FERC. These
are attached. Staff questions whether the underlying information remains
accurate. We are considering whether to update the underlying information
used in the INGAA Study and how best to address these issues (probably during
Q&As) during the Staff Outreach.
I believe it would be helpful to put back together the coalition that Leslie
Lawner used at the last Market Affiliate conference to request a meeting as
part of the current Staff Outreach to discuss Staff's concerns. In addition,
I think it would be helpful to request a separate ENRON meeting with Staff to
discuss how the derivative market works and why FERC does not need to
establish ongoing reporting requirements or otherwise become involved in
these markets. Unfortunately, in this meeting we would probably be asked
about our involvement in the El Paso Merchant Transportation deal into
California, in light of Peggy Hegg's comment on the Frontline Show that El
Paso hedged some of the risk with Enron.
We can discuss further on Friday's call. Later Joe
|
{
"pile_set_name": "Enron Emails"
}
|
I agree with Donna that we need to present our vision of the RTOs and our
expectations of the shortcomings of the RTO filings prior to the October 15
filing. I would hope that we have a standardized presentation (Enron's
policy objectives, regional issues, the good news, what's not right today,
etc.) to share with FERC staff. I would guess that we want to set up
meetings by RTO / region so as to not overwhelm staff.
From my perspective, I'd focus on Cal ISO, NW RTO, MISO, Alliance RTO, Grid
South, Florida Transco if I couldn't do all. What do people think?
It seems to me that Joe Hartsoe should coordinate all of these meetings and
make sure that we are bringing the right people at the right times.
Thanks,
Jim
Mary Hain@ECT
08/30/2000 02:06 PM
To: Donna Fulton/Corp/Enron@ENRON, [email protected]
cc: Paul Kaufman/PDX/ECT@ECT, Joe Hartsoe/Corp/Enron@ENRON, James D
Steffes/HOU/EES@EES@ENRON, Sarah Novosel/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Jeff Dasovich/SFO/EES@EES@ENRON, Richard
Shapiro/HOU/EES@EES@ENRON, Steven J Kean/NA/Enron@Enron
Subject: Re: EPSA Meeting
Sounds like a good idea to me. Steve Walton and I have been involved in the
NW negotiations. I'd be happy to go to FERC to talk to Alice, Rob, and Mike.
Enron Capital & Trade Resources Corp.
From: Donna Fulton @ ENRON 08/30/2000 11:53 AM
To: Joe Hartsoe/Corp/Enron@ENRON
cc: James D Steffes/HOU/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Mary Hain/HOU/ECT@ECT, Jeff Dasovich/SFO/EES@EES,
Richard Shapiro/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, Joe
Hartsoe/Corp/Enron@ENRON
Subject: Re: EPSA Meeting
Since the rates departments are going to review the October 15 RTO filings,
and because we expect many of them to be deficient, I think we can take
advantage of some opportunities to set up meetings with the three directors
-- Alice Fernandez, Rob Cupina, and Mike Coleman -- to educate them and their
staffs on the minimum RTO requirements we feel are necessary for a successful
RTO. We can also take this opportunity to let them know some of the
weaknesses we expect to see in the filings, so that they can begin to think
about these issues before the filings are made. Also, by meeting with FERC
staff prior to the filings, we can state our positions without ex parte
communications on any specific filings. To make the meetings successful,
we'll need to get input and information from the regional people on the
status of the RTO negotiations. It might also make sense to have a regional
person attend these meetings to provide first hand accounts of what's been
happening in the RTO meetings.
Joe Hartsoe
08/30/2000 12:14 PM
To: James D Steffes/HOU/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT,
Jeff Dasovich/SFO/EES@EES
cc: Richard Shapiro/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, Joe
Hartsoe/Corp/Enron@ENRON
Subject: EPSA Meeting
Sorry -- This apparently was not recieved by everyone. Thanks JOE
---------------------- Forwarded by Joe Hartsoe/Corp/Enron on 08/30/2000
12:01 PM ---------------------------
Joe Hartsoe
08/30/2000 08:48 AM
To: James D Steffes/HOU/EES@EES, Sarah Novosel/Corp/Enron@ENRON, Christi L
Nicolay/HOU/ECT@ECT, Donna Fulton/Corp/Enron@ENRON, Mary Hain/HOU/ECT@ECT,
Jeff Dasovich/SFO/EES@EES
cc: Richard Shapiro/HOU/EES@EES, Steven J Kean/NA/Enron@Enron, Joe
Hartsoe/Corp/Enron@ENRON
Subject: EPSA Meeting
The EPSA meeting in Chicago was successful. In addition to numerous
stakeholders, the press was there in full force. It became clear that
deregulation is not complete, and that the problem is not deregulation -- but
continuing unnecessary regulation.
Commissioner Massey's speech on why competition is necessary was actually
quite good. His message is approximately 90 percent consistent with Enron's
on the wholesale level (He even called for Federal siting authority.). He
sees price caps as a stop gap only and votes for them as a last resort.
However, he still contradicts himself when he questions the use of single
price auctions because they do not work as intended; but, he comments that
PJM is working. I and others will work with him to make sure he
understands.
I spent time with Mike McLaughlin (Director of Corporate Applications) and
Rob Cupina (Director of Rates, Central). We spoke about the RTO filings due
October 15. I shared my concern that some of the RTO filings may be
incomplete and asked what actions FERC may take if the filings are
deficient. Mike indicated that the RTO filings will be processed by the rate
offices of the three regions (east, central and west) in Dan Larcamp's group
(OMTR). He believes that Order 2000 will become as "voluntary" as Order 436
was.
If you would like to discuss or have particular questions, please do not
hesitate to call -- 202.466.9150 JOE
|
{
"pile_set_name": "Enron Emails"
}
|
Please print the form agreement. I think it is the fourth one below.
---------------------- Forwarded by Kay Mann/Corp/Enron on 03/08/2001 11:12
AM ---------------------------
"Thompson, Peter J." <[email protected]> on 02/16/2001 10:14:39 AM
To: "Kay Mann (E-mail)" <[email protected]>
cc: "Pipitone, Paul" <[email protected]>, "Cobb, Chris"
<[email protected]>
Subject: GE Form Agreement
Attached please find a draft of the GE Form Agreement (the fourth
document below), as well as a blackline (third document below) showing
changes made from the Coyote Springs Agreement that was used a the basis
for the Agreement. In addition, please find the exhibits to the Form
Agreement (first document below), as well as a blackline showing changes
to the Coyote Springs Exhibits (second document below). If you have any
questions or comments, do not hesitate to contact me.
<<Exhibits to Enron Turbine Form Agreement 2/16/01.DOC>> <<CRO-
Exhibit to Enron Turbine Form Guaranty Versions 1 to 3.DOC>> <<CRO- GE
Agreement Versions 1 to 3.DOC>> <<GE Agreement.DOC>>
- 01.DOC
- CRO- Exhibit to Enron Turbine Form Guaranty Versions 1 to 3.DOC
- CRO- GE Agreement Versions 1 to 3.DOC
- GE Agreement.DOC
|
{
"pile_set_name": "Enron Emails"
}
|
Yes. Carol just left a voice mail that Jay Williams (x53923) will be our credit contact.
I am just gathering the last documents for FPL and Florida Power & Light and will be bringing them around to you shortly.
Here is the issues list.
Let me know if you need anything else.
Marie
-----Original Message-----
From: Van Hooser, Steve
Sent: Tuesday, October 30, 2001 12:47 PM
To: Heard, Marie
Cc: St. Clair, Carol; Cook, Mary
Subject: RE: Master Netting Agreement
Thanks for the reminder. Marie, as it stands now, am I correct to believe that I am waiting for the following:
1. Intructions from Carol on who and when to call Credit regarding making contact with Florida Power & Light to forward and discuss a Master Netting Agreement;
2. Reciept of a New Master Netting Agreement form that addresses the following:
a. Automatic dragnet clause as to non-specifically mentioned commodity contracts and future agreements
b. Tax language that addresses 10% withholding tax that would otherwise be payable upon netting under the Master Netting Agreement
c. Certain other changes Mary thinks are necessary in light of current facts.
In the meantime, could you please forward me a copy of the Issues List as I did not receive one earlier.
Thanks,
Steve
-----Original Message-----
From: Heard, Marie
Sent: Tuesday, October 30, 2001 12:02 PM
To: Clark, Morris; Davis, Angela; Del vecchio, Peter; Douglas, Stephen H.; Gray, Barbara N.; Hansen, Leslie; Heard, Marie; Hendry, Brent; Hodge, Jeffrey T.; Jones, Tana; Koehler, Anne C.; Leite, Francisco Pinto; McCullough, Travis; Murphy, Harlan; Murray, Julia; Nemec, Gerald; Sager, Elizabeth; Sayre, Frank; Shackleton, Sara; St. Clair, Carol; Van Hooser, Steve; Viverito, John
Cc: Cook, Mary
Subject: Master Netting Agreement
Just a reminder not to use the form Master Netting Agreement that was attached to the e-mail notification sent yesterday. You will be receiving a new form later today.
Thanks!
Marie
|
{
"pile_set_name": "Enron Emails"
}
|
I have attached our revised Cash Flow Estimate for the Sun Devil Pipeline
Project. I have increased the overall estimate from $5.0 to $7.5 million
based on increases to the cultural resources survey/report, cultural
resources testing and mitigation, agency/public meetings, coordination
meetings, project management, environmental inspector management, and
environmental inspector subcontract tasks. Substantial budget increases
were made to the cultural resources and environmental inspection tasks. I
assumed that 4 environmental inspectors would be required for each spread
instead of the 2 inspectors per spread that were assumed in the previous
cost spreadsheet that Scott provided to you.
I also have attached the alternative analysis text and associated table for
the Compressor Station 2 to Cordes Junction, AZ alternative (i.e., I-17
alternative), and a telecommunication report regarding the complications
associated with the potential crossing of the Agua Fria National Monument.
Please let me know if you have any questions regarding this information.
Thanks!
<<Final Sundevil Task Cashflow.xls>> <<Alternative Analysis.doc>>
<<GSimmonstel.doc>> <<Alternatives Analysis Table.doc>>
Jon D. Alstad
Permitting and Compliance Manager
ENSR Corporation
1601 Prospect Parkway
Fort Collins, CO 80525
telephone: (970) 493-8878 ext. 235
fax: (970) 493-0213
**********************************************************************
The information contained in this communication is confidential and
privileged proprietary information intended only for the individual
or entity to whom it is addressed. Any unauthorized use, distribution,
copying or disclosure of this communication is prohibited.
If you have received this communication in error, please contact the
sender immediately.
It is our policy that e-mails are intended for and should be used for
business purposes only.
This footnote also confirms that this email message has been swept by
MIMEsweeper for the presence of computer viruses.
ENSR
www.ensr.com
[email protected]
**********************************************************************
|
{
"pile_set_name": "Enron Emails"
}
|
Here's the e-mail address for the person interested in buying the balls. Again, I'm not sure what she is willing to pay, but she seemed eager to buy ENE stuff.
(I should charge you a 10% listing fee!!!)
[email protected] <mailto:[email protected]>
Greg
|
{
"pile_set_name": "Enron Emails"
}
|
Scott - Please distribute to the Enron side.
(See attached file: PROJECT TIMBER - Term Sheet MTBE.doc)(See attached
file: PROJECT TIMBER - Mt Belvieu.doc)
Dana R. Gibbs
713-993-5288
- PROJECT TIMBER - Term Sheet MTBE.doc
- PROJECT TIMBER - Mt Belvieu.doc
|
{
"pile_set_name": "Enron Emails"
}
|
Per the conference call of Wednesday, I revised Section 9.6 (with Scott
fixing my drafting). Attached document contains a redline of the section.
I think this can be included in the version that goes to GE. I discussed the
concept with Jim Sutherland- he agreed with relaxing the unilateral
requirement in the case of GE. We would not want to do this in the case of
other vendors.
|
{
"pile_set_name": "Enron Emails"
}
|
FYI,
My message to RISK.
Vince
---------------------- Forwarded by Vince J Kaminski/HOU/ECT on 06/28/2000
05:44 PM ---------------------------
Vince J Kaminski
06/05/2000 08:04 AM
To: Conrad Gardner <[email protected]> @ ENRON
cc: Vince J Kaminski/HOU/ECT@ECT, Mike A Roberts/HOU/ECT@ECT, Daniel
Diamond/HOU/ECT@ECT
Subject: Re: Enron site/MEPR2
Conrad,
Thanks for your message.
There are 3 papers Enron contributed to the last MEPR.
There is also another paper on electricity I contributed to the "red book" on
US
power markets, as well as a paper or credit risk management, and a paper
on weather derivatives. All these papers included in other RISK books were
written by Enron
employees.
We would like them included as well, if technically possible.
I think that offering other energy related books through our site, in
addition to MEPR2,
is fine, but I would leave the decision to Dan Diamond, who is responsible
for the project.
Vince
Conrad Gardner <[email protected]> on 06/05/2000 07:08:36 AM
To: [email protected]
cc:
Subject: Enron site/MEPR2
>Date: Mon, 05 Jun 2000 13:02:02
>To: Vince Kaminski
>From: Conrad Gardner <[email protected]>
>
>Dear Vince
>
>Thanks for the call and email on Friday. I will contact Masuyuki and follow
it from there.
>
>Regarding the Enron site, I think it is absolutely fine to put up the two
Enron chapters (I'll provide pdfs), and prevent any customer leakages from
your site by the use of "submit" buttons. As mentioned, I'll offer a 20%
discount on MEPR2 to customers but would you be interested in some of other
energy titles? - Please let me know.
>
>Many thanks
>
>Conrad Gardner
>
Head of Book Publishing
Risk Books
Haymarket House
28-29 Haymarket
London
SW1Y 4RX
Direct tel: +44 (020) 7 484 9750
Main tel:+44 (020) 7 484 9700
Fax: +44 (020) 7 484 9758
e-mail: [email protected]
www.riskpublications.com
|
{
"pile_set_name": "Enron Emails"
}
|
Hi Tax Gurus,
I was out when you called the other day. Since then, we have another version
of the docs anyway. Would you like to schedule a time to discuss this with
me and outside counsel?
Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 04/11/2001 10:52
AM ---------------------------
"Keffer, John" <[email protected]> on 04/11/2001 10:45:43 AM
To: "'[email protected]'" <[email protected]>
cc: "Reuter, Marisa" <[email protected]>
Subject: ENA/Blue Dog: Revised Letter Agreement
Kay:
I am attaching a blackline of the Letter Agreement that includes
Marguerite's latest changes so that your tax/accounting specialists may
review Section 5(e) (which deals with deemed refunds and deemed payments).
Although we are still reviewing the Letter Agreement and the other
transaction documents, we wanted to alert you to Section 5(e) so that we
could discuss this provision with you on the 12:30 call.
Thanks,
John and Marisa
<<2xn3RED.DOC>>
Confidentiality Notice
This message is being sent by or on behalf of a lawyer. It is intended
exclusively for the individual or entity to which it is addressed. This
communication may contain information that is proprietary, privileged or
confidential or otherwise legally exempt from disclosure. If you are not the
named addressee, you are not authorized to read, print, retain, copy or
disseminate this message or any part of it. If you have received this
message in error, please notify the sender immediately by e-mail and delete
all copies of the message.
- 2xn3RED.DOC
|
{
"pile_set_name": "Enron Emails"
}
|
----- Forwarded by Mark Taylor/HOU/ECT on 03/07/2001 09:26 AM -----
Continental Airlines <[email protected]>
03/06/2001 07:10 PM
To: [email protected]
cc:
Subject: ONEPASS MEMBER CO.O.L. TRAVEL SPECIALS FOR MARK TAYLOR
ONEPASS MEMBER CO.O.L. TRAVEL SPECIALS
DOMESTIC U.S.
Wednesday, March 7, 2001
****************************************
WIN TWO BUSINESSFIRST TICKETS TO HONG KONG
We're celebrating our new daily nonstop service between New York
and Hong Kong by giving away a fabulous prize. Enter the
"Ultimate Chinese Take-Out" Sweepstakes(tm) for a chance to
win a trip to Hong Kong, in BusinessFirst.
Visit
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0bIvn
for your chance to win!
****************************************
TABLE OF CONTENTS FOR CO.O.L. TRAVEL SPECIALS
1. OnePass Miles CO.O.L. Travel Specials Offers
2. CO.O.L. Travel Specials Offers
3. Featured Fares Sample Destinations
4. Continental Vacations Offers
5. Alamo Rent A Car Offers
6. National Car Rental Offers
7. Westin Hotels & Resorts, Sheraton Hotels & Resorts,
Four Points by Sheraton, St. Regis, The Luxury Collection and W Hotels
8. Hilton Hotel Offers
****************************************
This week's specials are good for the following markets departing Saturday,
March 10 and returning on either Monday, March 12 or Tuesday, March
13, 2001. Please see the Rules/Terms and Conditions listed at the end of
this e-mail.
****************************************
1. OnePass Miles CO.O.L. Travel Specials Offers
For OnePass members, here are special opportunities to redeem miles for
travel to the following destinations. As an additional benefit, OnePass
Elite members can travel using the miles below as the only payment
necessary. The following are this week's OnePass CO.O.L. Travel Specials.
To use your OnePass miles (as listed below) to purchase CO.O.L. Travel
Specials, you must call 1-800-642-1617.
THERE WILL NOT BE AN ADDITIONAL $20 CHARGE WHEN
REDEEMING ONEPASS MILES FOR CO.O.L. TRAVEL SPECIALS THROUGH
THE TOLL FREE RESERVATIONS NUMBER.
****************************************
TRAVEL MAY ORIGINATE IN EITHER CITY
****************************************
$29 + 12,500 Miles Cleveland, OH - Dayton, OH
$29 + 12,500 Miles Cleveland, OH - Rochester, NY
$29 + 10,000 Miles Houston, TX - Killeen, TX
$29 + 10,000 Miles Houston, TX - Lafayette, LA
$29 + 12,500 Miles New York/Newark (Newark only) - Hartford, CT
$29 + 17,500 Miles New York/Newark (Newark only) - Kansas City, MO
$29 + 17,500 Miles New York/Newark (Newark only) - Los Angeles, CA
$29 + 10,000 Miles New York/Newark (Newark only) - Providence, RI
$29 + 10,000 Miles New York/Newark (Newark only) - Richmond, VA
$29 + 17,500 Miles New York/Newark (Newark only) - San Diego, CA
****************************************
2. CO.O.L. Travel Specials Offers
Purchase CO.O.L. Travel Specials online until 11:59pm (CST) Friday at
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0E3y
You can also purchase CO.O.L. Travel Specials for an additional cost of $20
per ticket through our telephone service at 1-800-642-1617.
********************************
TRAVEL MAY ORIGINATE IN EITHER CITY
********************************
****Roundtrip BETWEEN CLEVELAND, OH and:
$119 - Dayton, OH
$119 - Rochester, NY
****Roundtrip BETWEEN HOUSTON, TX and:
$109 - Killeen, TX
$109 - Lafayette, LA
****Roundtrip BETWEEN NEW YORK/NEWARK and:
$119 - Hartford, CT
$179 - Kansas City, MO
$219 - Los Angeles, CA
$109 - Providence, RI
$109 - Richmond, VA
$219 - San Diego, CA
********************************
3. FEATURED FARES SAMPLE DESTINATION
Choose your fare, find your flight. Or, quickly sift through all our great
featured fares by choosing a destination or origin. Be spontaneous. Get out
of town. Current Featured Fares destinations include:
New York, Philadelphia, Los Angeles, San Francisco,
Austin, Seattle, and many more.
Note: Featured Fares change often. To see a regularly-updated online list
and purchase our Featured Fares, visit the website at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0uTL
(Capacity controls and other restrictions apply)
********************************
4. CONTINENTAL VACATIONS OFFERS
Are you thinking about how you are going to plan you next vacation? Let
Continental Airlines Vacations take the hassle out of vacation planning with
easy-to-plan travel packages that provide exciting destinations plus
memories that will last a lifetime!
Check out
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0DoA3
to see our newest addition: Internet only specials!
********************************
5. CO.O.L. TRAVEL SPECIALS FROM ALAMO RENT A CAR
This week, Alamo (R) offers great rates in the following cities. Rates
listed below are valid on compact class cars at airport locations listed.
Other car types may be available. Rates are valid for rentals on Saturday,
March 10, 2001 with returns Monday, March 12, 2001 or Tuesday,
March 13, 2001.
-------------------------------
$18 a day in: Houston, TX (IAH)
$20 a day in: Cleveland, OH (CLE)
$26 a day in: Newark, NJ (EWR)
$26 a day in: Hartford, CT (BDL)
$20 a day in: San Diego, CA (SAN)
$26 a day in: Providence, RI (PVD)
$18 a day in: Kansas City, MO (MCI)
$20 a day in: Los Angeles, CA (LAX)
To receive special Continental CO.O.L. discounted rates, simply make advance
reservations and be sure to request ID # 596871 and Rate Code 33. Book your
reservation online at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0EoVQ
or contact Alamo at 1-800 GO ALAMO.
*If you are traveling to a city or a different date that is not listed,
Alamo offers you up to 20% off their retail rates when you book online at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0EoWR
For complete details on these offers, please refer to Alamo's terms and
conditions below.
****************************************
6. CO.O.L. TRAVEL SPECIALS FROM NATIONAL CAR RENTAL
This week, National (R) offers great rates in the following cities. Rates
listed below are valid on compact class cars at airport locations listed.
Other car types may be available. Rates are valid for rentals on Saturday,
March 10, 2001 with returns Monday, March 12, 2001 or Tuesday,
March 13, 2001.
------------------------------------------
$21 a day in: Cleveland, OH (CLE)
$27 a day in: Newark, NJ (EWR)
$19 a day in: Houston, TX (IAH)
$24 a day in: Killeen, TX (ILE)
$19 a day in: Kansas City, MO (MCI)
$27 a day in: Hartford, CT (BDL)
$27 a day in: Lafayette, LA (LFT)
$21 a day in: San Diego, CA (SAN)
$19 a day in: Dayton, OH (DAY)
$19 a day in: Rochester, NY (ROC)
$21 a day in: Richmond, VA (RIC)
$21 a day in: Los Angeles, CA (LAX)
To receive your special Continental Airlines CO.O.L. Travel Specials
discounted rates, simply make your reservation in advance and be sure to
request Product Code COOLUS. Make your reservation online or contact
National at 1-800-CAR-RENT (1-800-227-7368). Book your reservation online
at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0D7mq
* If you are traveling to a city or a different date that is not listed,
National offers you up to 20% off their retail rates when you book online at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0DwDF
For complete details on these offers, please refer to National's terms and
conditions below.
****************************************
7. CO.O.L. TRAVEL SPECIALS LAST-MINUTE WEEKEND
RATES FROM WESTIN HOTELS & RESORTS, SHERATON HOTELS
& RESORTS, FOUR POINTS BY SHERATON, ST. REGIS,
THE LUXURY COLLECTION, AND W HOTELS
Visit our site for booking these and other Last-Minute Weekend Rates for
this weekend March 9-13, 2001.
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0D7nr
--------------------------------------
California - Costa Mesa - The Westin South Coast Plaza - $88.00
California - Long Beach - The Westin Long Beach - $90.00
California - Los Angeles - The Century Plaza Hotel & Spa - $139.00
California - Los Angeles - W Los Angeles Westwood - $209.00
California - Millbrae - The Westin San Francisco Airport - $110.00
California - Monrovia - Four Points by Sheraton Monrovia - $65.00
California - Rancho Bernardo - Four Points by Sheraton Rancho Bernardo -
$74.00
California - San Francisco/Pleasanton - Four Points by Sheraton Pleasanton -
$56.00
California - San Rafael - Four Points by Sheraton San Rafael - $84.00
California - Santa Monica - Four Points by Sheraton Santa Monica - $95.00
Georgia - Atlanta - W Atlanta at Perimeter Center - $90.00
Georgia - Atlanta - The Westin Atlanta North at Perimeter Center - $74.00
Georgia - Atlanta - The Westin Peachtree Plaza - $94.00
New Jersey - Eatontown - Sheraton Eatontown Hotel & Conference Center - $99.00
New Jersey - Elizabeth - Four Points by Sheraton Newark - $71.00
New Jersey - Parsippany - Sheraton Parsippany Hotel - $70.00
New Jersey - Piscataway - Four Points by Sheraton Piscataway - $65.00
New York - Jamaica - Sheraton JFK Airport Hotel - $103.00
New York - New York City - The St. Regis - $580.00
Ohio - Akron/Cuyahoga Falls - Sheraton Suites Akron/Cuyahoga Falls - $99.00
Ohio - Cincinnati - The Westin Cincinnati - $90.00
Ohio - Columbus - Sheraton Suites Columbus - $64.00
Texas - Houston - The Westin Galleria Houston - $64.00
Texas - Houston - Sheraton Suites Houston Near The Galleria - $71.00
Texas - Houston - The St. Regis, Houston - $106.00
Texas - Houston - The Westin Oaks - $70.00
Texas - Houston - Sheraton Houston Brookhollow Hotel - $45.00
Texas - Houston/Airport - Sheraton North Houston At IAH - $64.00
For complete details on these offers, please refer to the terms and
conditions below.
****************************************
8. CO.O.L. TRAVEL SPECIALS ON HILTON HOTELS AND RESORTS
The following rates are available March 10-12, 2001 and are priced per night.
--------------------------------------
Cleveland, OH - Hilton Garden Inn Cleveland Airport, OH - $79
Hartford, CT - Hilton Hartford, CT - $95
Houston, TX - Doubletree Hotel Houston-Post Oak, TX - $165
Houston, TX - Hilton Houston Hobby Airport, Houston TX - $88
Houston, TX - Hilton Houston Southwest, TX - $105
Houston, TX - Hilton Houston Westchase and Towers, TX - $65
Los Angeles, CA - Doubletree Hotel Los Angeles-Rosemead, CA - $109
Los Angeles, CA - Doubletree Hotel Pasadena-Plaza Las Fuentes, CA - $149
Los Angeles, CA - Hilton Burbank Airport & Convention Center, CA - $129
Los Angeles, CA - Hilton Glendale, CA - $169
Los Angeles, CA - Hilton Irvine/Orange County Airport, CA - $99
Los Angeles, CA - Hilton Los Angeles Airport, CA - $99
Los Angeles, CA - Hilton Pasadena, CA - $149
Newark, NJ - Doubletree Club Suites Jersey City, NJ - $129
Newark, NJ - Hilton East Brunswick, NJ - $189
Newark, NJ - Hilton Fort Lee George Washington Bridge, NJ - $109
Newark, NJ - Hilton Pearl River, NY - $125
San Diego, CA - Doubletree Hotel San Diego/Del Mar, CA - $149
San Diego, CA - Hilton Garden Inn Carlsbad Beach, CA - $129
San Diego, CA - Hilton La Jolla Torrey Pines, CA - $185
San Diego, CA - Hilton San Diego/Del Mar, CA - $139
Windsor Locks, CT - Doubletree Hotel Bradley International Airport, CT -$109
To book this week's special rates for Hilton Family Hotels, visit and book at
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0B3zx
Special rates apply only for the dates listed at each hotel and are subject to
availability. Check hilton.com for specific dates at each Hilton Family
Hotel.
Or call at 1-800-774-1500 and ask for Value Rates. Restrictions apply to these
rates.
****************************************
CO.O.L. TRAVEL SPECIALS RULES:
Fares include a $37.20 fuel surcharge. Passenger Facility Charges, up
to $12 depending on routing, are not included. Up to Three dollars per
segment federal excise tax, as applicable, is not included. Applicable
International and or Canadian taxes and fees up to $88, varying by
destination, are not included and may vary slightly depending on currency
exchange rate at the time of purchase.
For a complete listing of rules please visit:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0Ebnb
ALAMO RENT A CAR'S TERMS AND CONDITIONS:
Taxes (including VLF taxes up to US$1.89 per day in California and GST),
other governmentally-authorized or imposed surcharges, license recoupment
fees, fuel, additional driver fee, drop charges and optional items (such as
CDW Waiver Savers(R) up to US$18.99 a day,) are extra. Renter must meet
standard age, driver and credit requirements. Rates higher for drivers under
age 25. Concession recoupment fees may add up to 14% to the rental rate at
some on-airport locations. Up to 10.75% may be added to the rental rate if
you rent at an off-airport location and exit on our shuttle bus. Weekly
rates require a 5-day minimum rental or daily rates apply. For weekend
rates, the vehicle must be picked up after 9 a.m. on Thursday and returned
before midnight on Monday or higher daily rates apply. 24-hour advance
reservation required. May not be combined with other discounts. Availability
is limited. All vehicles must be returned to the country of origin. Offer
not valid in San Jose, CA.
NATIONAL CAR RENTAL TERMS AND CONDITIONS:
Customer must provide Contract ID# at the time of reservation to be eligible
for discounts. Offer valid at participating National locations in the US and
Canada. Minimum rental age is 25. This offer is not valid with any other
special discount or promotion. Standard rental qualifications apply. Subject
to availability and blackout dates. Advance reservations required.
Geographic driving restrictions may apply.
TERMS AND CONDITIONS FOR WESTIN, SHERATON, FOUR POINTS,
ST. REGIS, THE LUXURY COLLECTION, AND W HOTELS:
Offer is subject to availability. Advance Reservations required and is based
on
single/double occupancy. Offer not applicable to group travel. Additional
Service charge and tax may apply. The discount is reflected in the rate
quoted.
Offer valid at participating hotel only. Offer valid for stays on Fri - Mon
with
a Friday or Saturday night arrival required. Rate available for this coming
weekend only (01/05/2001 to 01/08/2001.) Offer available only by making
reservations via the internet. A limited number of rooms may be available at
these rates.
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0FG2B
---------------------------------------
This E-mail message and its contents are copyrighted and are proprietary
products of Continental Airlines, Inc. Any unauthorized use, reproduction,
or transfer of the message or its content, in any medium, is strictly
prohibited.
****************************************
UNFORTUNATELY MAIL SENT TO THIS ADDRESS CANNOT BE ANSWERED.
PLEASE SEND ALL INQUIRIES TO:
mailto:[email protected]
TO UNSUBSCRIBE:
We hope you will find CO.O.L. Travel Specials a valuable source of
information. However, if you prefer not to take advantage of this
opportunity, please let us know by visiting the CO.O.L. Travel Specials page
on our web site at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0Bt1
TO SUBSCRIBE:
Please visit the CO.O.L. Travel Specials page on our web site at:
http://airmail.continental.com/cgi-bin5/flo?y=eDXH0p61V0a0Cck
|
{
"pile_set_name": "Enron Emails"
}
|
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.