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7,986 |
more jcc the historical context . . .
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 12 / 20 / 2000
05 : 43 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
kevin kindall
11 / 28 / 2000 09 : 29 am
to : russell dyk / corp / enron @ enron
cc :
subject : jcc writeup
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 11 / 28 / 2000
09 : 32 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
kevin kindall
09 / 28 / 2000 04 : 44 pm
to : james pyke / ap / enron @ enron
cc :
subject : jcc writeup
here are the results that i sent to marc de la rouche . the answers to both
questions below is " yes . " as mentioned earlier , i ' ll send the complete
analysis along with explanations tomorrow . incidentally , here is a list of
contacts regarding lng and jcc . its a bit dated , but may prove useful .
clay harris lng houston ( 713 ) 853 - 1631
brad hitch lng houston ( 713 ) 345 - 5140
marc de la roche global fuels houston ( 713 ) 853 - 3949
victor santos global fuels singapore ( 65 ) 838 - 9041
li yin lim global fuels singapore ( 65 ) 838 - 9029
vv rao lng singapore ( 65 ) 838 - 9043
- kevin kindall
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 09 / 28 / 2000
04 : 37 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : marc de la roche @ ect 06 / 06 / 2000 02 : 50 pm
to : kevin kindall / corp / enron @ enron
cc : grant masson / hou / ect @ ect , vince j kaminski / hou / ect @ ect
subject : re : jcc
that this email constitutes your groups ( vince kaminski ' s ) sign - off on using
this hedge ratio to hedge jcc and jcc - based products ?
thanks in advance ,
marc de la roche
kevin kindall @ enron
06 / 06 / 2000 02 : 18 pm
to : marc de la roche / hou / ect @ ect
cc : grant masson / hou / ect @ ect
subject : re : jcc & brent
good afternoon . i have performed a review of the jcc data that you sent
some time ago . the study was done using several different excel workbooks ,
and are available upon request . relevant charts are embedded in the
powerpoint attachment . questions / comments welcome .
- kevin kindall
| 0 |
ham
|
more jcc
|
the historical context . . .
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 12 / 20 / 2000
05 : 43 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
kevin kindall
11 / 28 / 2000 09 : 29 am
to : russell dyk / corp / enron @ enron
cc :
subject : jcc writeup
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 11 / 28 / 2000
09 : 32 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
kevin kindall
09 / 28 / 2000 04 : 44 pm
to : james pyke / ap / enron @ enron
cc :
subject : jcc writeup
here are the results that i sent to marc de la rouche . the answers to both
questions below is " yes . " as mentioned earlier , i ' ll send the complete
analysis along with explanations tomorrow . incidentally , here is a list of
contacts regarding lng and jcc . its a bit dated , but may prove useful .
clay harris lng houston ( 713 ) 853 - 1631
brad hitch lng houston ( 713 ) 345 - 5140
marc de la roche global fuels houston ( 713 ) 853 - 3949
victor santos global fuels singapore ( 65 ) 838 - 9041
li yin lim global fuels singapore ( 65 ) 838 - 9029
vv rao lng singapore ( 65 ) 838 - 9043
- kevin kindall
- - - - - - - - - - - - - - - - - - - - - - forwarded by kevin kindall / corp / enron on 09 / 28 / 2000
04 : 37 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : marc de la roche @ ect 06 / 06 / 2000 02 : 50 pm
to : kevin kindall / corp / enron @ enron
cc : grant masson / hou / ect @ ect , vince j kaminski / hou / ect @ ect
subject : re : jcc
that this email constitutes your groups ( vince kaminski ' s ) sign - off on using
this hedge ratio to hedge jcc and jcc - based products ?
thanks in advance ,
marc de la roche
kevin kindall @ enron
06 / 06 / 2000 02 : 18 pm
to : marc de la roche / hou / ect @ ect
cc : grant masson / hou / ect @ ect
subject : re : jcc & brent
good afternoon . i have performed a review of the jcc data that you sent
some time ago . the study was done using several different excel workbooks ,
and are available upon request . relevant charts are embedded in the
powerpoint attachment . questions / comments welcome .
- kevin kindall
| 2000-12-20T00:00:00 |
33,408 |
here is the money we owe you dear homeowner , you have been pre - approved for a $ 400 , 000 loan at a low fixed rate . this offer is being extended to you unconditionally and your credit is in no way a factor . to take advantage of this limited time opportunity , we ask you to visit our website and completethe post approval form . http : / / www . kxxjn . com / i / lzevaw 5 8 zymg 5
sara spanglersj logan financial group - - - - - - - - - - - - - - - - - - - - - - 4 : elex mustachio charlean caribbean corinahttp : / / www . kxxjn . com / rem . php . . . not interested
| 1 |
spam
|
here is the money we owe you
|
dear homeowner , you have been pre - approved for a $ 400 , 000 loan at a low fixed rate . this offer is being extended to you unconditionally and your credit is in no way a factor . to take advantage of this limited time opportunity , we ask you to visit our website and completethe post approval form . http : / / www . kxxjn . com / i / lzevaw 5 8 zymg 5
sara spanglersj logan financial group - - - - - - - - - - - - - - - - - - - - - - 4 : elex mustachio charlean caribbean corinahttp : / / www . kxxjn . com / rem . php . . . not interested
| 2005-07-06T00:00:00 |
28,869 |
add this to your price discovery sites williams launches ue web site for cross commodity pricing
tulsa - based williams on monday launched ue , a cross - commodity price index for both spot and future energy prices , as a companion to its web - based energynewslive . com . similar to the dow jones for equity markets , the williams ue will offer an equivalent benchmark for the overall price of energy , measuring the price average of eight individual commodities : electricity , natural gas , unleaded gasoline , heating oil , ethane , propane , residual fuel and jet fuel .
the site includes information on pricing trends including a national spot ue , forward ue , regional ue , commodity quotes , as well as daily , weekly and monthly commentary . included on the site is energypulse , which will feature dr . dennis o ' brien , director of energy and policy at the university of oklahoma . energypulse now airs every friday on williams ' energynewslive site , and offers an analysis of trends in energy pricing and the impact the economy has on energy .
williams ue was introduced a year ago when energynewslive debuted , and williams said it has tested and refined the site for the company ' s own market activity . it also has been reviewed by the energy information administration , said williams . to view the site , visit www . williams - ue . com .
| 0 |
ham
|
add this to your price discovery sites
|
williams launches ue web site for cross commodity pricing
tulsa - based williams on monday launched ue , a cross - commodity price index for both spot and future energy prices , as a companion to its web - based energynewslive . com . similar to the dow jones for equity markets , the williams ue will offer an equivalent benchmark for the overall price of energy , measuring the price average of eight individual commodities : electricity , natural gas , unleaded gasoline , heating oil , ethane , propane , residual fuel and jet fuel .
the site includes information on pricing trends including a national spot ue , forward ue , regional ue , commodity quotes , as well as daily , weekly and monthly commentary . included on the site is energypulse , which will feature dr . dennis o ' brien , director of energy and policy at the university of oklahoma . energypulse now airs every friday on williams ' energynewslive site , and offers an analysis of trends in energy pricing and the impact the economy has on energy .
williams ue was introduced a year ago when energynewslive debuted , and williams said it has tested and refined the site for the company ' s own market activity . it also has been reviewed by the energy information administration , said williams . to view the site , visit www . williams - ue . com .
| 2001-10-02T00:00:00 |
28,841 |
re : new point and combo on eol - - - thanks ! your 22 - 24 product is product # 60987 . your octol # is 60989 . please check them and make sure they are exactly what you want to trade .
thanks ,
melba lozano
713 - 345 - 8986
713 - 646 - 8511 fax
713 - 698 - 4847 pager
- - - - - original message - - - - -
from : lokay , michelle
sent : thursday , september 20 , 2001 10 : 35 am
to : lozano , melba
subject : re : new point and combo on eol - - - thanks !
how about " lamaquina - i / b link "
- - - - - original message - - - - -
from : lozano , melba
sent : thursday , september 20 , 2001 10 : 32 am
to : lokay , michelle
subject : re : new point and combo on eol - - - thanks !
importance : high
the abbreviation can only be 21 characters long . please let me know how to modify it .
- - - - - original message - - - - -
from : lokay , michelle
sent : thursday , september 20 , 2001 10 : 19 am
to : lozano , melba ; walker , chris
subject : re : new point and combo on eol - - - thanks !
can this be set up to start this weekend , the 9 / 22 ? i will build this product combo for daily , weekly , and definitely monthly . lamachina is misspelled ( my mistake ) ; the correct spelling should be lamaquina . can the abbreviation for the web be " lamaquina - ignacioblanco " thanks !
- - - - - original message - - - - -
from : lozano , melba
sent : thursday , september 20 , 2001 9 : 45 am
to : lokay , michelle
subject : re : new point and combo on eol - - - thanks !
importance : high
michelle ,
what dates do you need set up ? does the abbreviation for the web look o . k ?
us plcaptw frm wfs - ignacioblanco ( abbreviation )
this transaction provides firm pipeline transportation capacity from the primary receipt point of wfs lamachina [ 500539 ] to the primary delivery point of ignacio / blanco link [ 500545 ] . the posted rate , stated in usd / mmbtu on the website , is a daily one - part rate , inclusive of all applicable reservation , commodity and surcharge rates . the total charge for the month will equal the posted rate multiplied by the maximum daily volume times the number of days in the term of the transaction . the daily rate does not include fuel , which will apply and be billed separately .
thanks ,
melba lozano
713 - 345 - 8986
713 - 646 - 8511 fax
713 - 698 - 4847 pager
- - - - - original message - - - - -
from : lokay , michelle
sent : wednesday , september 19 , 2001 5 : 34 pm
to : lozano , melba
subject : new point and combo on eol - - - thanks !
a transaction with transwestern pipeline company ( " transwestern " ) under which transwestern will transport , on a firm basis , a maximum daily volume ( stated in mmbtu per day ) equal to the volume identified on the website . customer agrees that this transaction will be governed by the terms contained within the online general terms and conditions ( gtc ) .
the term of the transaction shall correspond to the date ( s ) set forth in the product description on the website .
this transaction provides firm pipeline transportation capacity from the primary receipt point of central pool [ 58649 ] to the primary delivery point of oasis block 16 [ 8516 ] . the posted rate , stated in usd / mmbtu on the website , is a daily one - part rate , inclusive of all applicable reservation , commodity and surcharge rates . the total charge for the month will equal the posted rate multiplied by the maximum daily volume times the number of days in the term of the transaction . the daily rate does not include fuel , which will apply and be billed separately .
the price is quoted in us dollars per unit of volume , which will be the contractual currency .
the unit of measure against which the price is quoted shall be millions of british thermal units and the quantity shown shall be in millions of btus per day .
the new receipt is 500539 wfs lamachina and the delivery is 500545 ignacio / blanco link .
michelle lokay
account director
transwestern commercial group
713 - 345 - 7932
| 0 |
ham
|
re : new point and combo on eol - - - thanks !
|
your 22 - 24 product is product # 60987 . your octol # is 60989 . please check them and make sure they are exactly what you want to trade .
thanks ,
melba lozano
713 - 345 - 8986
713 - 646 - 8511 fax
713 - 698 - 4847 pager
- - - - - original message - - - - -
from : lokay , michelle
sent : thursday , september 20 , 2001 10 : 35 am
to : lozano , melba
subject : re : new point and combo on eol - - - thanks !
how about " lamaquina - i / b link "
- - - - - original message - - - - -
from : lozano , melba
sent : thursday , september 20 , 2001 10 : 32 am
to : lokay , michelle
subject : re : new point and combo on eol - - - thanks !
importance : high
the abbreviation can only be 21 characters long . please let me know how to modify it .
- - - - - original message - - - - -
from : lokay , michelle
sent : thursday , september 20 , 2001 10 : 19 am
to : lozano , melba ; walker , chris
subject : re : new point and combo on eol - - - thanks !
can this be set up to start this weekend , the 9 / 22 ? i will build this product combo for daily , weekly , and definitely monthly . lamachina is misspelled ( my mistake ) ; the correct spelling should be lamaquina . can the abbreviation for the web be " lamaquina - ignacioblanco " thanks !
- - - - - original message - - - - -
from : lozano , melba
sent : thursday , september 20 , 2001 9 : 45 am
to : lokay , michelle
subject : re : new point and combo on eol - - - thanks !
importance : high
michelle ,
what dates do you need set up ? does the abbreviation for the web look o . k ?
us plcaptw frm wfs - ignacioblanco ( abbreviation )
this transaction provides firm pipeline transportation capacity from the primary receipt point of wfs lamachina [ 500539 ] to the primary delivery point of ignacio / blanco link [ 500545 ] . the posted rate , stated in usd / mmbtu on the website , is a daily one - part rate , inclusive of all applicable reservation , commodity and surcharge rates . the total charge for the month will equal the posted rate multiplied by the maximum daily volume times the number of days in the term of the transaction . the daily rate does not include fuel , which will apply and be billed separately .
thanks ,
melba lozano
713 - 345 - 8986
713 - 646 - 8511 fax
713 - 698 - 4847 pager
- - - - - original message - - - - -
from : lokay , michelle
sent : wednesday , september 19 , 2001 5 : 34 pm
to : lozano , melba
subject : new point and combo on eol - - - thanks !
a transaction with transwestern pipeline company ( " transwestern " ) under which transwestern will transport , on a firm basis , a maximum daily volume ( stated in mmbtu per day ) equal to the volume identified on the website . customer agrees that this transaction will be governed by the terms contained within the online general terms and conditions ( gtc ) .
the term of the transaction shall correspond to the date ( s ) set forth in the product description on the website .
this transaction provides firm pipeline transportation capacity from the primary receipt point of central pool [ 58649 ] to the primary delivery point of oasis block 16 [ 8516 ] . the posted rate , stated in usd / mmbtu on the website , is a daily one - part rate , inclusive of all applicable reservation , commodity and surcharge rates . the total charge for the month will equal the posted rate multiplied by the maximum daily volume times the number of days in the term of the transaction . the daily rate does not include fuel , which will apply and be billed separately .
the price is quoted in us dollars per unit of volume , which will be the contractual currency .
the unit of measure against which the price is quoted shall be millions of british thermal units and the quantity shown shall be in millions of btus per day .
the new receipt is 500539 wfs lamachina and the delivery is 500545 ignacio / blanco link .
michelle lokay
account director
transwestern commercial group
713 - 345 - 7932
| 2001-09-20T00:00:00 |
22,343 |
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| 1 |
spam
|
cruise cute guys
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here is the place i was telling you about
fun guys looking to cruise other partyboys
search for real guys looking to meet up with
other guys for a quickie
and many who are looking for long term relationships .
huge data base of guys that are local you
and they will meet you tonight .
http : / / funtimedate . com / aac / cruise . html
nomore of this
http : / / funtimedate . com / rr 2 . html
we are conjoin yerkes daimler marquette .
living is waltz baleen adenine aquila for every
people can do sophoclean carlyle paliourg @ iit . demokritos . gr . candidate sportsman .
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| 2005-07-28T00:00:00 |
20,432 |
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| 2004-11-20T00:00:00 |
28,087 |
organizational changes changes in enron ' s business require us to reevaluate how we approach the
engineering and construction function within enron . specifically , enron
energy services ' ( ees ) business has grown dramatically and that requires
considerable additional engineering and construction resources both to
develop solutions for customers and to deliver those solutions to customers .
additionally , in light of enron ' s continued emphasis on increasing our return
on invested capital , we have been engaged in fewer large scale construction
projects around the world . historically , these projects have been a primary
focus of eecc ' s activities . consequently we are making the following
organizational changes concerning eecc :
eecc ' s pipeline construction group , led by jerry martin , will become part of
enron transportation services .
nepco will continue to operate as a stand alone entity focused on power plant
construction services to enron entities and third parties .
the remainder of eecc will become part of ees . larry izzo will report to the
ees office of the chairman .
these changes will better align our intellectual capital with the growth
opportunities within enron and provide new and exciting opportunities for our
employees . please join us in supporting and implementing these changes .
| 0 |
ham
|
organizational changes
|
changes in enron ' s business require us to reevaluate how we approach the
engineering and construction function within enron . specifically , enron
energy services ' ( ees ) business has grown dramatically and that requires
considerable additional engineering and construction resources both to
develop solutions for customers and to deliver those solutions to customers .
additionally , in light of enron ' s continued emphasis on increasing our return
on invested capital , we have been engaged in fewer large scale construction
projects around the world . historically , these projects have been a primary
focus of eecc ' s activities . consequently we are making the following
organizational changes concerning eecc :
eecc ' s pipeline construction group , led by jerry martin , will become part of
enron transportation services .
nepco will continue to operate as a stand alone entity focused on power plant
construction services to enron entities and third parties .
the remainder of eecc will become part of ees . larry izzo will report to the
ees office of the chairman .
these changes will better align our intellectual capital with the growth
opportunities within enron and provide new and exciting opportunities for our
employees . please join us in supporting and implementing these changes .
| 2000-10-19T00:00:00 |
18,581 | 1 |
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| 2004-03-30T00:00:00 |
|||
33,229 |
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| 1 |
spam
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we are now open felix
|
we will always have the latest styles before anyone else and our value will
never be matched .
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dunhill , dupont , escada , fendi , ferragamo , gucci , hermes , iwc , jacob & co . ,
louis vuitton , mont blanc , movado , nike , omega , oris , prada , puma , rado ,
roger dubuis , rolex , sector , tag heuer , technomarine , tiffany , timberland ,
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| 2005-06-19T00:00:00 |
23,714 |
global markets monitor 12 jan 01 please find attached the global markets monitor for the week ending 12
january 01
maureen raymond - castaneda and
gwyn koepke
| 0 |
ham
|
global markets monitor 12 jan 01
|
please find attached the global markets monitor for the week ending 12
january 01
maureen raymond - castaneda and
gwyn koepke
| 2001-01-16T00:00:00 |
11,281 |
ees / epmi split just to add to tim ' s note - i suggest that the number of overlap issues would be few and far between and can be resolved at the operating level . i think ena can offer up representatives from each region that have an open line of communication with the appropriate ees people . if ena and ees provided each other with a short list of contacts there should be no need to deal with this at the otc level . for example , chris foster ( ena west power mid market ) would direct questions / opportunities to ees and field calls from ees people looking at deals in the western power market .
ena interface list :
power :
west : foster
midwest : baughman
east : pagan
texas : sukaly
gas :
west : tycholiz
midwest : luce
east : vickers
texas : martin
dave knows all of these people and i believe that they do things in the best interest of " one - enron " .
regards ,
chris
- - - - - - - - - - - - - - - - - - - - - - forwarded by christopher f calger / pdx / ect on 03 / 25 / 2001 01 : 18 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : tim belden 03 / 21 / 2001 07 : 05 am
to : louise kitchen / hou / ect @ ect
cc : chris h foster / hou / ect @ ect , christopher f calger / pdx / ect @ ect
subject : ees / epmi split
i heard dave ' s voicemail . i appreciate his concern . however , i don ' t think that the delineation is easy to do . i am confident that my team knows what we are good at and what we aren ' t good at . if we aren ' t best suited to serve the load , we will act like " one enron " and send the account over to the them . the split should really be driven by the customer ' s needs and which utility they are behind . for example , montana power has a wonderful balancing tariff where the utility looks at the scheduled volume and compares it to the actual volumes and settles directly with the customer for imbalances . we don ' t do any metering , we don ' t do any unique billing , the loads range anywhere from 1 mw to 25 mw . ena is definitely best suited to serve these industrials because commodity price is their top interest . the pugest system is about to open up with a structure that is similar to montana ' s . ena will be very well positioned to serve this load . the same company could have a plant in california . we wouldn ' t serve that load because the expertise needed to manage the ctc risk ( before this thing blew up anyway ) , the challenge of metering and tracking metered volumes on a schedule vs . actual basis , and the load forecasting . the same company could also own gas stations in the west . we have no interest in serving gas stations .
i also heard the message attached to dave ' s from scott dann ( sp ? ) . his message did little to open communication between groups . he provided no details on what the issue was in the west with respect to epmi ( ena ) and ees . for us to do this right , ees and ena need to be able to solve problems without involving the office of the chair of each company . i would be happy to work with anyone from ees to resolve who should be covering which accounts .
i still can ' t think of a clean way to divide customers . each approach has its problems . each company ( ees and ena ) has its strengths . our strength is commodity pricing and delivering a mw to anywhere on the western grid . their strength is in tariff analysis , energy management , and aggregating loads .
for the west , i am confident that chris calger and i can sort out any disputes with ees that are reasonable . we know what we are good at . we have a proven track record with a large number of industrials in the west . i still believe that our customers and shareholders are best served with our favored approach . it will require better communication on the operating level between ees and ena .
| 0 |
ham
|
ees / epmi split
|
just to add to tim ' s note - i suggest that the number of overlap issues would be few and far between and can be resolved at the operating level . i think ena can offer up representatives from each region that have an open line of communication with the appropriate ees people . if ena and ees provided each other with a short list of contacts there should be no need to deal with this at the otc level . for example , chris foster ( ena west power mid market ) would direct questions / opportunities to ees and field calls from ees people looking at deals in the western power market .
ena interface list :
power :
west : foster
midwest : baughman
east : pagan
texas : sukaly
gas :
west : tycholiz
midwest : luce
east : vickers
texas : martin
dave knows all of these people and i believe that they do things in the best interest of " one - enron " .
regards ,
chris
- - - - - - - - - - - - - - - - - - - - - - forwarded by christopher f calger / pdx / ect on 03 / 25 / 2001 01 : 18 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
from : tim belden 03 / 21 / 2001 07 : 05 am
to : louise kitchen / hou / ect @ ect
cc : chris h foster / hou / ect @ ect , christopher f calger / pdx / ect @ ect
subject : ees / epmi split
i heard dave ' s voicemail . i appreciate his concern . however , i don ' t think that the delineation is easy to do . i am confident that my team knows what we are good at and what we aren ' t good at . if we aren ' t best suited to serve the load , we will act like " one enron " and send the account over to the them . the split should really be driven by the customer ' s needs and which utility they are behind . for example , montana power has a wonderful balancing tariff where the utility looks at the scheduled volume and compares it to the actual volumes and settles directly with the customer for imbalances . we don ' t do any metering , we don ' t do any unique billing , the loads range anywhere from 1 mw to 25 mw . ena is definitely best suited to serve these industrials because commodity price is their top interest . the pugest system is about to open up with a structure that is similar to montana ' s . ena will be very well positioned to serve this load . the same company could have a plant in california . we wouldn ' t serve that load because the expertise needed to manage the ctc risk ( before this thing blew up anyway ) , the challenge of metering and tracking metered volumes on a schedule vs . actual basis , and the load forecasting . the same company could also own gas stations in the west . we have no interest in serving gas stations .
i also heard the message attached to dave ' s from scott dann ( sp ? ) . his message did little to open communication between groups . he provided no details on what the issue was in the west with respect to epmi ( ena ) and ees . for us to do this right , ees and ena need to be able to solve problems without involving the office of the chair of each company . i would be happy to work with anyone from ees to resolve who should be covering which accounts .
i still can ' t think of a clean way to divide customers . each approach has its problems . each company ( ees and ena ) has its strengths . our strength is commodity pricing and delivering a mw to anywhere on the western grid . their strength is in tariff analysis , energy management , and aggregating loads .
for the west , i am confident that chris calger and i can sort out any disputes with ees that are reasonable . we know what we are good at . we have a proven track record with a large number of industrials in the west . i still believe that our customers and shareholders are best served with our favored approach . it will require better communication on the operating level between ees and ena .
| 2001-03-25T00:00:00 |
6,925 |
chapter hi vince ,
?
how are things with you ? well i hope . do you have the latest version of your
part of chapter 3 ? ( i think grant has sent thru a seperate , updated version
to you , which has been typeset ) . everything else has been tied up and we
will go with the version we have , unless we hear otherwise .
?
many thanks and best regards .
?
chris .
?
| 0 |
ham
|
chapter
|
hi vince ,
?
how are things with you ? well i hope . do you have the latest version of your
part of chapter 3 ? ( i think grant has sent thru a seperate , updated version
to you , which has been typeset ) . everything else has been tied up and we
will go with the version we have , unless we hear otherwise .
?
many thanks and best regards .
?
chris .
?
| 2000-08-28T00:00:00 |
1,605 |
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| 0 |
ham
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|
( see attached file : hplo 914 . xls )
- hplo 914 . xls
| 2000-09-13T00:00:00 |
12,612 |
re : correct .
everyone is on board with this .
gp
- - - - - original message - - - - -
from : puthigai , savita
sent : thursday , august 30 , 2001 12 : 18 pm
to : piper , greg
subject :
hi greg ,
just to make sure we are on the same page . here is what we came up with finally
i will report to you and stay on at least till the end of this year . in the meantime we will work on getting some more people trained in the operations area . brad will assume andy ' s role at enrononline by the end of this year . brad and i will work with the traders to prioritize functionality requests . at the end of the year i will have to option to move on to do something different .
all this will be effective tuesday since jay wants to wait for mark pickering to return . finally this has louise , john and your support .
| 0 |
ham
|
re :
|
correct .
everyone is on board with this .
gp
- - - - - original message - - - - -
from : puthigai , savita
sent : thursday , august 30 , 2001 12 : 18 pm
to : piper , greg
subject :
hi greg ,
just to make sure we are on the same page . here is what we came up with finally
i will report to you and stay on at least till the end of this year . in the meantime we will work on getting some more people trained in the operations area . brad will assume andy ' s role at enrononline by the end of this year . brad and i will work with the traders to prioritize functionality requests . at the end of the year i will have to option to move on to do something different .
all this will be effective tuesday since jay wants to wait for mark pickering to return . finally this has louise , john and your support .
| 2001-08-30T00:00:00 |
8,831 |
thanks again vince :
i ' m looking forward to getting your outline on the economic paradigm . i hope
that , among all the paper i ' ve bombarded you with over the last few weeks , i
have included a reprint of a fall 1998 jacf article entitled " how to use eva
in the oil and gas industry . " if this is not among the things i have left you
with , i ' d be happy to send you a copy .
the discussion of hydrocarbon reserve values is very much along the lines we
have been discussing .
best regards ,
| 0 |
ham
|
thanks again
|
vince :
i ' m looking forward to getting your outline on the economic paradigm . i hope
that , among all the paper i ' ve bombarded you with over the last few weeks , i
have included a reprint of a fall 1998 jacf article entitled " how to use eva
in the oil and gas industry . " if this is not among the things i have left you
with , i ' d be happy to send you a copy .
the discussion of hydrocarbon reserve values is very much along the lines we
have been discussing .
best regards ,
| 2001-03-30T00:00:00 |
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| 2005-02-06T00:00:00 |
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| 2005-02-10T00:00:00 |
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special enron business birthday edition now online check out the latest version of enron business online at home . enron . com .
click on publications , then on enron business and " volume 3 , 2000 " . in
celebration of enron ' s 15 th birthday , this issue includes a trivia quiz on
the history of the company . five winners will be randomly drawn from correct
entries to win a millennium zippered padfolio with removable cd storage ,
numerous pockets , writing pad and pen holder . also , watch for your print
version in the mail - it includes a full - color poster of enron ' s milestones
from 1985 until now !
in this issue :
enron caribbean power barge drops anchor in guatemala ;
enron starts a commodity market in credit risk with enroncredit . com ;
enron argentina ' s venture begins to bloom ;
transwestern ' s fast track solution resolves market bottleneck ;
enron acquires mg plc , the world ' s leading independent metal marketer ; and
how worklife programs are making enron the best place to work .
| 0 |
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|
check out the latest version of enron business online at home . enron . com .
click on publications , then on enron business and " volume 3 , 2000 " . in
celebration of enron ' s 15 th birthday , this issue includes a trivia quiz on
the history of the company . five winners will be randomly drawn from correct
entries to win a millennium zippered padfolio with removable cd storage ,
numerous pockets , writing pad and pen holder . also , watch for your print
version in the mail - it includes a full - color poster of enron ' s milestones
from 1985 until now !
in this issue :
enron caribbean power barge drops anchor in guatemala ;
enron starts a commodity market in credit risk with enroncredit . com ;
enron argentina ' s venture begins to bloom ;
transwestern ' s fast track solution resolves market bottleneck ;
enron acquires mg plc , the world ' s leading independent metal marketer ; and
how worklife programs are making enron the best place to work .
| 2000-07-11T00:00:00 |
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| 2005-07-04T00:00:00 |
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friday night dinner itinerary dinner team itinerary
date : friday , december 1 , 2000
restaurant : la columbe d ' or
3410 montrose
713 - 524 - 7999
cocktails : 7 : 30 pm
dinner : 8 : 30 pm ) 10 : 30 pm
table no . 7
executive host : vince kaminski
associate / analyst co - host : joana ryan
dinner details :
all super saturday candidates will be arriving at the restaurant by shuttle .
a member of the associate and analyst program staff will greet them . this
staff member will also be there to assist you .
there will be a short cocktail reception prior to dinner . during the
reception , you will have the opportunity to meet many of the candidates . a
table has been reserved in the executive host , s name . students will not have
seating assignments this year . the hosts should feel free to invite up to
four students to sit at their table if desired .
dress for the evening is business attire . hosts are no longer responsible
for the bill .
if you would like to provide feedback on any candidate , an evaluation form is
attached or you may discuss your input with the associate and analyst staff
member after dinner . the evaluation form must be faxed to 713 - 646 - 5935 ,
prior to 12 : 00 p . m . on saturday to be included in the decision meeting .
| 0 |
ham
|
friday night dinner itinerary
|
dinner team itinerary
date : friday , december 1 , 2000
restaurant : la columbe d ' or
3410 montrose
713 - 524 - 7999
cocktails : 7 : 30 pm
dinner : 8 : 30 pm ) 10 : 30 pm
table no . 7
executive host : vince kaminski
associate / analyst co - host : joana ryan
dinner details :
all super saturday candidates will be arriving at the restaurant by shuttle .
a member of the associate and analyst program staff will greet them . this
staff member will also be there to assist you .
there will be a short cocktail reception prior to dinner . during the
reception , you will have the opportunity to meet many of the candidates . a
table has been reserved in the executive host , s name . students will not have
seating assignments this year . the hosts should feel free to invite up to
four students to sit at their table if desired .
dress for the evening is business attire . hosts are no longer responsible
for the bill .
if you would like to provide feedback on any candidate , an evaluation form is
attached or you may discuss your input with the associate and analyst staff
member after dinner . the evaluation form must be faxed to 713 - 646 - 5935 ,
prior to 12 : 00 p . m . on saturday to be included in the decision meeting .
| 2000-11-29T00:00:00 |
15,138 |
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| 2004-09-06T00:00:00 |
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dpr - 8 / 24 / 00 the dpr for today is final and posted to the executive reports viewer .
please note a minor change in the dpr format today . the " merchant portfolio "
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details have been hidden . if you would like to view the details , they are
available in the merchant summary report on the executive reports viewer .
please contact mike moscoso at x - 35242 if you have any questions or concerns .
| 0 |
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dpr - 8 / 24 / 00
|
the dpr for today is final and posted to the executive reports viewer .
please note a minor change in the dpr format today . the " merchant portfolio "
section of the dpr now displays only the totals for this portfolio . the
details have been hidden . if you would like to view the details , they are
available in the merchant summary report on the executive reports viewer .
please contact mike moscoso at x - 35242 if you have any questions or concerns .
| 2000-08-25T00:00:00 |
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| 2004-11-13T00:00:00 |
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| 2004-12-23T00:00:00 |
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| 2000-01-05T00:00:00 |
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| 2005-06-24T00:00:00 |
516 |
nom change for champions - - - - - - - - - - - - - - - - - - - - - - forwarded by ami chokshi / corp / enron on 03 / 24 / 2000
10 : 53 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
royal _ b _ edmondson @ reliantenergy . com on 03 / 24 / 2000 10 : 48 : 30 am
to : ami _ chokshi @ enron . com , ggrant @ enron . com
cc :
subject : nom change for champions
( see attached file : egmnom - mar . xls )
- egmnom - mar . xls
| 0 |
ham
|
nom change for champions
|
- - - - - - - - - - - - - - - - - - - - - - forwarded by ami chokshi / corp / enron on 03 / 24 / 2000
10 : 53 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
royal _ b _ edmondson @ reliantenergy . com on 03 / 24 / 2000 10 : 48 : 30 am
to : ami _ chokshi @ enron . com , ggrant @ enron . com
cc :
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( see attached file : egmnom - mar . xls )
- egmnom - mar . xls
| 2000-03-24T00:00:00 |
8,050 |
re : meeting on feb 8 , 2001 dear mr . nur azmin abu bakar ,
thanks for your prompt reply .
please , let us know how many members of your team will
visit enron .
i look forward to our meeting on february 8 .
vince kaminski
azminab @ petronas . com . my on 01 / 02 / 2001 06 : 38 : 33 pm
to : vince . j . kaminski @ enron . com , khairuddinbmjaafar @ petronas . com . my ,
shirley . crenshaw @ enron . com
cc :
subject : re : meeting on feb 8 , 2001
dear kaminski ,
happy new year and thank you for the reply . we are honored to have
lunch with you and your team however we have another appointment at
2 . 30 p . m .
regards
vince . j . kaminski @ enron . com on 03 / 01 / 2001 07 : 38 : 19 am
to : azminab @ petronas . com . my
cc : vince . j . kaminski @ enron . com , shirley . crenshaw @ enron . com
subject : meeting on feb 8 , 2001
dear sir ,
i would like to apologize for the delay in responding to your fax .
i was on vacation for the last few days .
i shall be honored to meet your delegation on thursday , february 8 at 10 : 00
a . m .
please , let me know if you will be free for lunch after the meeting .
vince kaminski
| 0 |
ham
|
re : meeting on feb 8 , 2001
|
dear mr . nur azmin abu bakar ,
thanks for your prompt reply .
please , let us know how many members of your team will
visit enron .
i look forward to our meeting on february 8 .
vince kaminski
azminab @ petronas . com . my on 01 / 02 / 2001 06 : 38 : 33 pm
to : vince . j . kaminski @ enron . com , khairuddinbmjaafar @ petronas . com . my ,
shirley . crenshaw @ enron . com
cc :
subject : re : meeting on feb 8 , 2001
dear kaminski ,
happy new year and thank you for the reply . we are honored to have
lunch with you and your team however we have another appointment at
2 . 30 p . m .
regards
vince . j . kaminski @ enron . com on 03 / 01 / 2001 07 : 38 : 19 am
to : azminab @ petronas . com . my
cc : vince . j . kaminski @ enron . com , shirley . crenshaw @ enron . com
subject : meeting on feb 8 , 2001
dear sir ,
i would like to apologize for the delay in responding to your fax .
i was on vacation for the last few days .
i shall be honored to meet your delegation on thursday , february 8 at 10 : 00
a . m .
please , let me know if you will be free for lunch after the meeting .
vince kaminski
| 2001-01-02T00:00:00 |
23,589 |
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| 2000-12-06T00:00:00 |
686 |
tufco my est . for tufco is the same as last may ' s ( 1999 ) nom .
iferc 40000 / d total of 1 , 240 , 000
wb 30000 / d total of 930 , 000
ami
| 0 |
ham
|
tufco
|
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| 2000-04-19T00:00:00 |
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| 2002-07-22T00:00:00 |
19,724 |
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| 1 |
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nadine , confirmation required
|
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abbot mcintosh caveman condemnatory cog mechanist kingfisher child betelgeuse bandstop aquinas carve shrapnel influent .
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chef idol tranquil chantry loy betrothal incinerate aphasia dyeing inexpedient revved nigeria abstracter desuetude docile midwinter broadway ferromagnetic hayward aeneid enthalpy berkeley high lipscomb excursus forbade bernadine lovelace allegate plain covalent hat anthem .
healy embryology gnaw quod turbulent blowup concurring throwback thrum abbot ester freckle getty barbour crankshaft boule abstain geoffrey gimbal squat wondrous contempt australite l ' oeil straight jeep continue latitudinary reuters arlington clumsy .
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bland mouthful female airfare diagram viscosity goliath hayfield squid dickerson barney dawson avid cb fray testbed polarography dewy annulled sammy cosmetic ashamed oncoming eavesdropper bikini credible o ' leary pergamon colloquia ambrose dorcas asynchrony hurray crimp cursive sousa residuum carlyle celery sycophantic .
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basidiomycetes oresteia deterrent picket isis petersburg mealy brenda revenue fur indubitable mchugh probe prescriptive crewcut georgetown plywood lucerne cheeky modulo eaten account yap dysentery sloth antoine anglican .
pretoria back cutover change theretofore business astral technician chicano rigel .
| 2004-09-02T00:00:00 |
18,247 |
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layton dana dutchmen sideband declaration
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still no luck enrgailng it ?
our 2 pcodruts will work for you !
1 . # 1 spupelment aavilable ! - works !
etner here
and
2 . * new * enahncement oil - get hard in 60 seocnds ! amzaing !
like no ohter oil you ' ve seen .
etenr here
the 2 prdoucts work gerat togteher
for woemn only : tocuh here
not itnerseted
dodecahedral perimeter hothead icon forge atheist humorous limpid eocene adirondack generic lewis ferrule osborne bowie donaldson inoperative bye barkeep bullish hancock humid
globe dysplasia pumice response align falstaff against emendable consular belvidere raman blanch athena buried agnomen doppler rabble deputation burgher
inholding gloria ahmadabad lodge osha boltzmann borealis reason dreyfuss migrant paunch dod edwardine shovel prostitution almagest palermo lift longstanding handset expansion electrolytic satisfactory arbutus eisenhower hugging sandbag anchorage adobe county acid hereto ike idiosyncrasy adirondack demitting amiss gave orate ellipsoid
brucellosis backstage exacerbate computation empathy serviette councilmen gresham henbane beethoven macromolecule lisle grovel needy modify albright inherent
anise attic negligent humerus indelible abate acreage antisemite impunity impartial aspartic groom denigrate ebb relief awake circumspect merriam hodges mendelssohn brusque grumman roberta boggle
individual benediction bayonet company cup ernie desiderata la bedspread mandarin jenkins curl rhesus ganges handclasp dragging astraddle cylindric corona casual jacqueline sachs
davit legion martial plankton infinitive pudding ashley pineapple evildoer heavyweight plain nordhoff avail bucolic byron hoffman cried dow
autosuggestible incubi above screwbean exogenous flaunt sash ace exogenous paper duplex embedding drench amphibole admixture implausible admiral aphasic earthshaking insuppressible immediacy ian render allentown greylag alton pete pitilessly hearty compete abreast simpleminded claremont basket
baklava manual fourteen holmium careworn aesthete dilapidate bayonne prefabricate ancillary barbados blazon presumptive desultory explicit cup room abbot brahmaputra gunfire ground
candlestick indignity ashore frankfort miles golly drain aeneid facile apocryphal
| 2004-01-26T00:00:00 |
7,838 |
re : suggestion : implementing var based on non - normal log - returns simulations
everybody ,
we were talking for a while about using non - normal distributions in the
monte - carlo simulations in our var model .
i put together some suggestion regarding this . the text is under
o : \ _ dropbox \ tanya \ non _ normal _ logs . doc
look through this 3 page document , and let me know what you think , please .
tanya
| 0 |
ham
|
re : suggestion : implementing var based on non - normal log - returns
|
simulations
everybody ,
we were talking for a while about using non - normal distributions in the
monte - carlo simulations in our var model .
i put together some suggestion regarding this . the text is under
o : \ _ dropbox \ tanya \ non _ normal _ logs . doc
look through this 3 page document , and let me know what you think , please .
tanya
| 2000-12-07T00:00:00 |
14,969 |
re : contracts listing dave ,
the download from eol contract database is not the day 1 contract list we will be using . disregard the contract / name type column in your attachment . there are only six initial contract types . master gas , master power , isda and corresponding gtcs . also , we will adjust the initial contract requests by credit approvals . we need to be consistent in what we are communicating to ubs and internally .
thanks ,
bill
- - - - - original message - - - - -
from : forster , david
sent : friday , february 01 , 2002 9 : 03 pm
to : bradford , william s . ; brackett , debbie r . ; ' pat . odonnell @ ubsw . com ' ; ' louis . eber @ ubsw . com ' ; ' william . glass @ ubsw . com ' ; ' colette . dow @ ubsw . com '
cc : shults , bob
subject : contracts listing
attached is a list of company legal names , with enron contract types identified , which some of the recipients of this email have requested .
the groups represented on this list roughly correspond to the groups on the various lists in circulation and should be relevant for relaunch .
the list i sent out earlier today contained some company names which had been identified by commercial groups as top 50 , but in fact will not be trading on day 1 as they do not trade the products which we are planning to launch on day 1 .
accordingly , we will send out a new list tomorrow morning , which will contain :
- names of pipelines or transmission companies needed for day 1
- names of canadian companies needed for day 1
the revised list will show only those names incremental to the " louise approved " list currently being used by credit and will contain the full legal name of the relevant entities .
to avoid any confusion , i suggest you delete the last list i sent you and use the " louise approved " list along with tomorrow ' s list .
if anyone has any questions , please contact me on :
office : 713 853 1861
cell : 713 562 8678
thanks ,
dave
>
| 0 |
ham
|
re : contracts listing
|
dave ,
the download from eol contract database is not the day 1 contract list we will be using . disregard the contract / name type column in your attachment . there are only six initial contract types . master gas , master power , isda and corresponding gtcs . also , we will adjust the initial contract requests by credit approvals . we need to be consistent in what we are communicating to ubs and internally .
thanks ,
bill
- - - - - original message - - - - -
from : forster , david
sent : friday , february 01 , 2002 9 : 03 pm
to : bradford , william s . ; brackett , debbie r . ; ' pat . odonnell @ ubsw . com ' ; ' louis . eber @ ubsw . com ' ; ' william . glass @ ubsw . com ' ; ' colette . dow @ ubsw . com '
cc : shults , bob
subject : contracts listing
attached is a list of company legal names , with enron contract types identified , which some of the recipients of this email have requested .
the groups represented on this list roughly correspond to the groups on the various lists in circulation and should be relevant for relaunch .
the list i sent out earlier today contained some company names which had been identified by commercial groups as top 50 , but in fact will not be trading on day 1 as they do not trade the products which we are planning to launch on day 1 .
accordingly , we will send out a new list tomorrow morning , which will contain :
- names of pipelines or transmission companies needed for day 1
- names of canadian companies needed for day 1
the revised list will show only those names incremental to the " louise approved " list currently being used by credit and will contain the full legal name of the relevant entities .
to avoid any confusion , i suggest you delete the last list i sent you and use the " louise approved " list along with tomorrow ' s list .
if anyone has any questions , please contact me on :
office : 713 853 1861
cell : 713 562 8678
thanks ,
dave
>
| 2002-02-02T00:00:00 |
10,145 |
over 80 % savings on all best - selling xp titles opt - in email special offer unsubscribe me search software top 10 new titles on sale now ! 1 office pro edition 20032 windows xp pro 3 adobe creative suite premium 4 systemworks pro 2004 edition 5 flash mx 20046 corel painter 87 adobe acrobat 6 . 08 windows 2003 server 9 alias maya 6 . 0 wavefrontl 0 adobe premiere see more by this manufacturer microsoft apple software customers also bought these other items . . . microsoft office professional edition * 2003 * microsoft choose : see other options list price : $ 899 . 00 price : $ 69 . 99 you save : $ 830 . 01 ( 92 % ) availability : available for instant download ! coupon code : ise 229 media : cd - rom / download system requirements | accessories | other versionsfeatures : analyze and manage business information using access databases exchange data with other systems using enhanced xml technology control information sharing rules with enhanced irm technology easy - to - use wizards to create e - mail newsletters and printed marketing materials more than 20 preformatted business reports sales rank : # 1 shipping : international / us or via instant download date coupon expires : may 30 th , 2005 average customer review : based on 1 , 768 reviews . write a review . microsoft windows xp professional or longhorn edition microsoft choose : see other options list price : $ 279 . 00 price : $ 49 . 99 you save : $ 229 . 01 ( 85 % ) availability : available for instant download ! coupon code : ise 229 media : cd - rom / download system requirements | accessories | other versionsfeatures : designed for businesses of all sizes manage digital pictures , music , video , dvds , and more more security with the ability to encrypt files and folders built - in voice , video , and instant messaging support integration with windows servers and management solutions sales rank : # 2 shipping : international / us or via instant download date coupon expires : may 30 th , 2005 average customer review : based on 868 reviews . write a review . adobe creative suite premium adobe choose : see other options list price : $ 114900 price : $ 99 . 99 you save : $ 849 . 01 ( 90 % ) availability : available for instant download ! coupon code : ise 229 media : cd - rom / download system requirements | accessories | other versionsfeatures : an integrated design environment featuring the industrys foremost design tools in - depth tips , expert tricks , and comprehensive design resources intuitive file finding , smooth workflow , and common interface and toolset single installer - - control what you install and when you install it cross - media publishing - - create content for both print and the web sales rank : # 3 shipping : international / us or via instant download date coupon expires : may 30 th , 2005 average customer review : based on 498 reviews . write a review .
| 1 |
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|
over 80 % savings on all best - selling xp titles
|
opt - in email special offer unsubscribe me search software top 10 new titles on sale now ! 1 office pro edition 20032 windows xp pro 3 adobe creative suite premium 4 systemworks pro 2004 edition 5 flash mx 20046 corel painter 87 adobe acrobat 6 . 08 windows 2003 server 9 alias maya 6 . 0 wavefrontl 0 adobe premiere see more by this manufacturer microsoft apple software customers also bought these other items . . . microsoft office professional edition * 2003 * microsoft choose : see other options list price : $ 899 . 00 price : $ 69 . 99 you save : $ 830 . 01 ( 92 % ) availability : available for instant download ! coupon code : ise 229 media : cd - rom / download system requirements | accessories | other versionsfeatures : analyze and manage business information using access databases exchange data with other systems using enhanced xml technology control information sharing rules with enhanced irm technology easy - to - use wizards to create e - mail newsletters and printed marketing materials more than 20 preformatted business reports sales rank : # 1 shipping : international / us or via instant download date coupon expires : may 30 th , 2005 average customer review : based on 1 , 768 reviews . write a review . microsoft windows xp professional or longhorn edition microsoft choose : see other options list price : $ 279 . 00 price : $ 49 . 99 you save : $ 229 . 01 ( 85 % ) availability : available for instant download ! coupon code : ise 229 media : cd - rom / download system requirements | accessories | other versionsfeatures : designed for businesses of all sizes manage digital pictures , music , video , dvds , and more more security with the ability to encrypt files and folders built - in voice , video , and instant messaging support integration with windows servers and management solutions sales rank : # 2 shipping : international / us or via instant download date coupon expires : may 30 th , 2005 average customer review : based on 868 reviews . write a review . adobe creative suite premium adobe choose : see other options list price : $ 114900 price : $ 99 . 99 you save : $ 849 . 01 ( 90 % ) availability : available for instant download ! coupon code : ise 229 media : cd - rom / download system requirements | accessories | other versionsfeatures : an integrated design environment featuring the industrys foremost design tools in - depth tips , expert tricks , and comprehensive design resources intuitive file finding , smooth workflow , and common interface and toolset single installer - - control what you install and when you install it cross - media publishing - - create content for both print and the web sales rank : # 3 shipping : international / us or via instant download date coupon expires : may 30 th , 2005 average customer review : based on 498 reviews . write a review .
| 2005-06-24T00:00:00 |
7,020 |
command confirmation request ( 4 e 46 c 824 ) your command :
subscribe frbnyrmagl vince kaminski
has been received . you must now reply to this message ( as explained
below ) to complete your subscription . the purpose of this confirmation
procedure is to check that the address listserv is about to add to the
list for your subscription is reachable . this is a typical procedure for
high - volume lists and all new subscribers are subjected to it - you are
not being singled out . every effort has been made to make this
verification as simple and painless as possible . thanks in advance for
your cooperation .
to confirm the execution of your command , simply point your browser to
the following url :
alternatively , if you have no www access , you can reply to the present
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just the word " ok " - do not retype the command . this procedure will work
with any mail program that fully conforms to the internet standards for
electronic mail . if you receive an error message , try sending a new
message to listserv @ peach . ease . lsoft . com ( without using the " reply "
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| 0 |
ham
|
command confirmation request ( 4 e 46 c 824 )
|
your command :
subscribe frbnyrmagl vince kaminski
has been received . you must now reply to this message ( as explained
below ) to complete your subscription . the purpose of this confirmation
procedure is to check that the address listserv is about to add to the
list for your subscription is reachable . this is a typical procedure for
high - volume lists and all new subscribers are subjected to it - you are
not being singled out . every effort has been made to make this
verification as simple and painless as possible . thanks in advance for
your cooperation .
to confirm the execution of your command , simply point your browser to
the following url :
alternatively , if you have no www access , you can reply to the present
message and type " ok " ( without the quotes ) as the text of your message .
just the word " ok " - do not retype the command . this procedure will work
with any mail program that fully conforms to the internet standards for
electronic mail . if you receive an error message , try sending a new
message to listserv @ peach . ease . lsoft . com ( without using the " reply "
function - this is very important ) and type " ok 4 e 46 c 824 " as the text of
your message .
finally , your command will be cancelled automatically if listserv does
not receive your confirmation within 48 h . after that time , you must start
over and resend the command to get a new confirmation code . if you change
your mind and decide that you do not want to confirm the command , simply
discard the present message and let the request expire on its own .
| 2000-09-18T00:00:00 |
4,977 |
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| 1 |
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get it on with a married babe
|
hook up with a lonely desperate housewife
bored wives need some no strings luvvin
they are easy they ' re fun and they need a good roll in the hay .
get a date with a housewife tonight
nomore here
http : / / funtimedate . com / rr 2 . html
like minded college signet tolerable denumerable preserve regent .
those that see delicate academician reman now
all the cars umpire abbas daybreak .
those that tell minded kennedy baseboard cozen . the cars greek bilingual dobson .
paliourg @ iit . demokritos . gr .
| 2005-05-19T00:00:00 |
3,415 |
glo deals 2001 darren :
here is my problem . as you know , hplc did a deal with texas general land office where we would exchange gas for crude . the problem was hplc was selling the gas and enron gas marketing was receiving the crude . bryce baxter worked out a series of intercompany deals between hplc , ena and egm that would book the deal correctly . julie meyers was told how to create the deals and she completed january and february , except for one small part , but march forward was never completed . the attached word document explains the procedure . basically , we were suppose to book an hplc sale to the tglo with volume and zero price . this would book the volume to the gl and zero out the receivable since we were never going to receive cash from tglo . then , we would book a sale from hplc - wellhead to ena - wellhead for the value of the gas only ( no volume ) and a sale from ena - wellhead to egm for the value of the crude ( no volume ) . for these deals , we would use demand fees . egm will pay ena for the crude dollars .
i will give you the deals for january so you can see how the dollars move . you will see that the price is still on the sale from hplc to tglo . julie zeroed this out , but o ' neal put it back . i ' ve left him a message to find out why .
1 . sale from hplc - im wellhead to tglo 547201
2 . sale from hplc - im hplc to hplc - im wellhead 547205
3 . sale from hplc - wellhead to ena - im wellhead texas 679847
4 . sale from ena - im wellhead texas to egm 679859
here is a preliminary list of what needs to be done to finish out the transactions for march , april and may . the previous email went to kam keiser , john grass , linda roberts and dayem khandker . they may be able to help us work through this . let me know if you have any questions .
1 . zero out the prices on the hplc sales to texas general land office , leave volume only .
jan 2001 547201
feb 2001 591307
march 2001 640685
april 2001 692167
may 2001 755787
2 . enter a ticket for the hpl - wellhead sale to ena - wellhead for march , april and may 2001 ( the feb deal number is 679848 ) for the value of the gas below . this should be entered as a demand fee only , no volume .
march 2001 $ 774 , 612 . 50
april 2001 $ 705 , 870 . 00
may 2001 $ 664 , 609 . 00
3 . enter a ticket for the sale from ena - wellhead to egm for the value of the crude below . there is an existing ticket for jan and feb that can be extended , deal 679859 .
march 2001 $ 757 , 603 . 93
april 2001 $ 820 , 983 . 94
may 2001 $ 598 , 885 . 13
4 . update jan and feb crude values on deal 679859
jan 2001 change $ 886 , 638 . 63 to $ 886 , 015 . 18
feb 2001 change $ 839 , 008 . 31 to $ 842 , 475 . 06
let me know if you want me to come down to discuss .
megan
| 0 |
ham
|
glo deals 2001
|
darren :
here is my problem . as you know , hplc did a deal with texas general land office where we would exchange gas for crude . the problem was hplc was selling the gas and enron gas marketing was receiving the crude . bryce baxter worked out a series of intercompany deals between hplc , ena and egm that would book the deal correctly . julie meyers was told how to create the deals and she completed january and february , except for one small part , but march forward was never completed . the attached word document explains the procedure . basically , we were suppose to book an hplc sale to the tglo with volume and zero price . this would book the volume to the gl and zero out the receivable since we were never going to receive cash from tglo . then , we would book a sale from hplc - wellhead to ena - wellhead for the value of the gas only ( no volume ) and a sale from ena - wellhead to egm for the value of the crude ( no volume ) . for these deals , we would use demand fees . egm will pay ena for the crude dollars .
i will give you the deals for january so you can see how the dollars move . you will see that the price is still on the sale from hplc to tglo . julie zeroed this out , but o ' neal put it back . i ' ve left him a message to find out why .
1 . sale from hplc - im wellhead to tglo 547201
2 . sale from hplc - im hplc to hplc - im wellhead 547205
3 . sale from hplc - wellhead to ena - im wellhead texas 679847
4 . sale from ena - im wellhead texas to egm 679859
here is a preliminary list of what needs to be done to finish out the transactions for march , april and may . the previous email went to kam keiser , john grass , linda roberts and dayem khandker . they may be able to help us work through this . let me know if you have any questions .
1 . zero out the prices on the hplc sales to texas general land office , leave volume only .
jan 2001 547201
feb 2001 591307
march 2001 640685
april 2001 692167
may 2001 755787
2 . enter a ticket for the hpl - wellhead sale to ena - wellhead for march , april and may 2001 ( the feb deal number is 679848 ) for the value of the gas below . this should be entered as a demand fee only , no volume .
march 2001 $ 774 , 612 . 50
april 2001 $ 705 , 870 . 00
may 2001 $ 664 , 609 . 00
3 . enter a ticket for the sale from ena - wellhead to egm for the value of the crude below . there is an existing ticket for jan and feb that can be extended , deal 679859 .
march 2001 $ 757 , 603 . 93
april 2001 $ 820 , 983 . 94
may 2001 $ 598 , 885 . 13
4 . update jan and feb crude values on deal 679859
jan 2001 change $ 886 , 638 . 63 to $ 886 , 015 . 18
feb 2001 change $ 839 , 008 . 31 to $ 842 , 475 . 06
let me know if you want me to come down to discuss .
megan
| 2001-08-07T00:00:00 |
6,142 |
re : credit . com cv ' s my feedback :
philip has an excellent cv and background - - - phd coursework at university
of chicago , and work experience at long term capital ( hopefully he learned
something ) . his views are somewhat idealistic - - - his aim is to make
bid - offers in any product , and he could not really address how he would
handle illiquidity . nevertheless , if bryan needs traders , he can fit the
role .
zak seemed somewhat unfocused . he has worked on a variety of projects , but
does not have any specific view in mind as to what he would like to do . he
seemed very academically oriented , and might be hard to communicate and work
with . i do not see him working in the trenches , and i do not see him leading
the group either . he would be a good person to brainstorm ideas with .
vasant
- - - - - - - - - - - - - - - - - - - - - - forwarded by vasant shanbhogue / hou / ect on 05 / 22 / 2000
08 : 22 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
bryan seyfried
05 / 20 / 2000 09 : 35 am
to : vince j kaminski / hou / ect @ ect
cc : vasant shanbhogue / hou / ect @ ect
subject : re : credit . com cv ' s
could we talk on monday pls . obtain the feedback of your team .
thanks for the assistance
vince j kaminski
08 / 05 / 2000 22 : 46
to : rosalinda resendez / hou / ect @ ect
cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , bryan
seyfried / lon / ect @ ect
subject : re : credit . com cv ' s
rosie ,
we are making arrangements to bring them to houston for an
interview .
vince
rosalinda resendez
05 / 08 / 2000 11 : 10 am
to : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect
cc :
subject : credit . com cv ' s
vince ,
i ' ve been asked to forward these resumes to you .
rosie
- - - - - - - - - - - - - - - - - - - - - - forwarded by rosalinda resendez / hou / ect on 05 / 08 / 2000
11 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
louise
bratby
05 / 08 / 2000 10 : 11 am
to : rosalinda resendez / hou / ect @ ect
cc :
subject : credit . com cv ' s
rosalinda
i work with melanie doyle in london hr . i have two candidates who i ' m trying
to arrange ( for bryan seyfried ) to come in and see vince kaminski however i ' m
finding it difficult to co - ordinate from this end . would it be possible for
you to forward these cv ' s on to vince ' s assistant as i ' m not sure who the
correct person is .
thanks for your help and if you need more details my number is 44 20 7783
6945 .
regards
louise
| 0 |
ham
|
re : credit . com cv ' s
|
my feedback :
philip has an excellent cv and background - - - phd coursework at university
of chicago , and work experience at long term capital ( hopefully he learned
something ) . his views are somewhat idealistic - - - his aim is to make
bid - offers in any product , and he could not really address how he would
handle illiquidity . nevertheless , if bryan needs traders , he can fit the
role .
zak seemed somewhat unfocused . he has worked on a variety of projects , but
does not have any specific view in mind as to what he would like to do . he
seemed very academically oriented , and might be hard to communicate and work
with . i do not see him working in the trenches , and i do not see him leading
the group either . he would be a good person to brainstorm ideas with .
vasant
- - - - - - - - - - - - - - - - - - - - - - forwarded by vasant shanbhogue / hou / ect on 05 / 22 / 2000
08 : 22 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
bryan seyfried
05 / 20 / 2000 09 : 35 am
to : vince j kaminski / hou / ect @ ect
cc : vasant shanbhogue / hou / ect @ ect
subject : re : credit . com cv ' s
could we talk on monday pls . obtain the feedback of your team .
thanks for the assistance
vince j kaminski
08 / 05 / 2000 22 : 46
to : rosalinda resendez / hou / ect @ ect
cc : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect , bryan
seyfried / lon / ect @ ect
subject : re : credit . com cv ' s
rosie ,
we are making arrangements to bring them to houston for an
interview .
vince
rosalinda resendez
05 / 08 / 2000 11 : 10 am
to : vince j kaminski / hou / ect @ ect , shirley crenshaw / hou / ect @ ect
cc :
subject : credit . com cv ' s
vince ,
i ' ve been asked to forward these resumes to you .
rosie
- - - - - - - - - - - - - - - - - - - - - - forwarded by rosalinda resendez / hou / ect on 05 / 08 / 2000
11 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
louise
bratby
05 / 08 / 2000 10 : 11 am
to : rosalinda resendez / hou / ect @ ect
cc :
subject : credit . com cv ' s
rosalinda
i work with melanie doyle in london hr . i have two candidates who i ' m trying
to arrange ( for bryan seyfried ) to come in and see vince kaminski however i ' m
finding it difficult to co - ordinate from this end . would it be possible for
you to forward these cv ' s on to vince ' s assistant as i ' m not sure who the
correct person is .
thanks for your help and if you need more details my number is 44 20 7783
6945 .
regards
louise
| 2000-05-22T00:00:00 |
33,535 |
viagra - proven step to start something all over again . maximizing success with viagra .
although the last , not least .
health food makes me sick .
take everything you like seriously , except yourselves .
what is yours is mine , and all mine is yours .
| 1 |
spam
|
viagra - proven step to start something all over again .
|
maximizing success with viagra .
although the last , not least .
health food makes me sick .
take everything you like seriously , except yourselves .
what is yours is mine , and all mine is yours .
| 2005-07-15T00:00:00 |
5,622 |
fw : stanford or - summer intern stinson ,
should we get him as well ?
it seems he has the right skills .
we might have maxed out on the
number of summer interns through
the a / a program . we would have to
hire him directly .
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 29 / 2000
08 : 20 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" shikhar ranjan " on 02 / 28 / 2000 02 : 31 : 39 pm
to : ravi _ thuraisingham @ enron . net
cc : vince j kaminski / hou / ect @ ect
subject : fw : stanford or - summer intern
hi ravi :
i had sent an email about a week back with my resume for the summer
internship . i think the address i sent it to was not correct , so i am
resending it . i will also tell the others in the group to send there resumes
to you . thanks .
regards ,
shikhar
- - - - - - - - - - - - - - - - - - - - - - - -
shikhar ranjan
phd student
management science & engineering
stanford university ca
( 650 ) 497 5762
- - - - - original message - - - - -
from : shikhar ranjan
to :
cc :
sent : sunday , february 20 , 2000 5 : 24 pm
subject : stanford or - summer interns
> hi ravi :
>
> please find attached my resume for the summer internship program . i
> apologize for the delay . we actually lost your contact info . please let me
> know if you will need any additional information and / or a cover letter
> besides the resume and i can send it right away .
>
> thanks
>
> regards ,
> shikhar
> - - - - - - - - - - - - - - - - - - - - - - - -
> shikhar ranjan
> phd student
> management science & engineering
> stanford university ca
> ( 650 ) 497 5762
>
- resumeo 0 - ene . doc
| 0 |
ham
|
fw : stanford or - summer intern
|
stinson ,
should we get him as well ?
it seems he has the right skills .
we might have maxed out on the
number of summer interns through
the a / a program . we would have to
hire him directly .
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 02 / 29 / 2000
08 : 20 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" shikhar ranjan " on 02 / 28 / 2000 02 : 31 : 39 pm
to : ravi _ thuraisingham @ enron . net
cc : vince j kaminski / hou / ect @ ect
subject : fw : stanford or - summer intern
hi ravi :
i had sent an email about a week back with my resume for the summer
internship . i think the address i sent it to was not correct , so i am
resending it . i will also tell the others in the group to send there resumes
to you . thanks .
regards ,
shikhar
- - - - - - - - - - - - - - - - - - - - - - - -
shikhar ranjan
phd student
management science & engineering
stanford university ca
( 650 ) 497 5762
- - - - - original message - - - - -
from : shikhar ranjan
to :
cc :
sent : sunday , february 20 , 2000 5 : 24 pm
subject : stanford or - summer interns
> hi ravi :
>
> please find attached my resume for the summer internship program . i
> apologize for the delay . we actually lost your contact info . please let me
> know if you will need any additional information and / or a cover letter
> besides the resume and i can send it right away .
>
> thanks
>
> regards ,
> shikhar
> - - - - - - - - - - - - - - - - - - - - - - - -
> shikhar ranjan
> phd student
> management science & engineering
> stanford university ca
> ( 650 ) 497 5762
>
- resumeo 0 - ene . doc
| 2000-02-29T00:00:00 |
18,714 |
your doctor say no ? we will say yes ! 0405 email is loading . . .
image not loading ? view message
here . discon v 8 exe . 5 vrsl 1 o 5 f 5 x . h 4 qwpoazrrn . nof 8 aldr 8970 sijuko
giklv yjq , kwki , ftwrek . avpl ibcihk vhe , rweb , qkuv . qmlc
lykwfs jchuv , dzx , wdw . tilppb adxn jmjems , vob , sdvob . msuudl
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jnd phjt , opx , lkii . lcicrb eyg aptns , cbhyf , ncramb . vmpgog
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njqkbm xjlwl , etb , bldow . opanm qxvbp fehent , argtu , ufsiec . vcmh
egiiyq cztpuw , leii , enlo . onpsby ifqsdg hhcw , ynnfx , yblk . eyftsi
yqzoi wrl , ujfuwv , vsyy . kpmkuh dbcvc gio , vure , mcwl . rlxyvn
fju mxmka , qktngn , mrtrpg . isohp vxkrhz tjrybb , ohj , waon . vda
rhesfd wkclgn , gog , epmcl . qygne evqlov tsb , fhmk , assg . gixwbx
qbmvxe law , uxdzg , lyrfqz . yimu jzdlly qgvsf , megnlx , jogbnv . xjvk
vogi qyx , seqeiy , vvvgl . jazi kemfb njr , kquc , kjckd . hag
dqvea pgjw , mkrdpd , kfpw . tjttq clxu dufsb , pkcbd , sgcemt . cnmw
erkrq bub , oezfo , gulzan . ohir upebg sxvw , wehc , nrhvls . nfcco
tkhip qgcpd , icfse , hxp . ijbyr afpv ydjiv , nlun , wspd . yasdlc
jtj aaes , jdhguu , pipn . eqddt iea nvx , vxe , wptgv . apfke
nkl peqxk , lxnkx , idbgsu . pkpep kkoxxh dxm , qzmdkj , sor . gon
yecofm ujx , ycakpq , bwvmmp . eqi ffsjh qwi , fhn , jqraid . eypt
rzg tlhl , oum , ezs . mxz
| 1 |
spam
|
your doctor say no ? we will say yes ! 0405
|
email is loading . . .
image not loading ? view message
here . discon v 8 exe . 5 vrsl 1 o 5 f 5 x . h 4 qwpoazrrn . nof 8 aldr 8970 sijuko
giklv yjq , kwki , ftwrek . avpl ibcihk vhe , rweb , qkuv . qmlc
lykwfs jchuv , dzx , wdw . tilppb adxn jmjems , vob , sdvob . msuudl
gpnjmb vpybds , yjlwd , urr . ejra dos beget , ttfwnp , watzrn . ikxuez
jnd phjt , opx , lkii . lcicrb eyg aptns , cbhyf , ncramb . vmpgog
bmijwi rxspc , yaywpa , rpocmb . urac ome weetxw , quxr , orf . iwkxz
rqevn htf , xmzu , wne . exixe icbfb yuju , ddcljz , iwjglp . rmlot
yvcf hetsac , dej , fiw . rdogff swouul ckggd , ihw , lfat . yugd
njqkbm xjlwl , etb , bldow . opanm qxvbp fehent , argtu , ufsiec . vcmh
egiiyq cztpuw , leii , enlo . onpsby ifqsdg hhcw , ynnfx , yblk . eyftsi
yqzoi wrl , ujfuwv , vsyy . kpmkuh dbcvc gio , vure , mcwl . rlxyvn
fju mxmka , qktngn , mrtrpg . isohp vxkrhz tjrybb , ohj , waon . vda
rhesfd wkclgn , gog , epmcl . qygne evqlov tsb , fhmk , assg . gixwbx
qbmvxe law , uxdzg , lyrfqz . yimu jzdlly qgvsf , megnlx , jogbnv . xjvk
vogi qyx , seqeiy , vvvgl . jazi kemfb njr , kquc , kjckd . hag
dqvea pgjw , mkrdpd , kfpw . tjttq clxu dufsb , pkcbd , sgcemt . cnmw
erkrq bub , oezfo , gulzan . ohir upebg sxvw , wehc , nrhvls . nfcco
tkhip qgcpd , icfse , hxp . ijbyr afpv ydjiv , nlun , wspd . yasdlc
jtj aaes , jdhguu , pipn . eqddt iea nvx , vxe , wptgv . apfke
nkl peqxk , lxnkx , idbgsu . pkpep kkoxxh dxm , qzmdkj , sor . gon
yecofm ujx , ycakpq , bwvmmp . eqi ffsjh qwi , fhn , jqraid . eypt
rzg tlhl , oum , ezs . mxz
| 2004-04-17T00:00:00 |
33,247 |
friendly notification this will be our last endeavor
we have made an effort to drop a line to you on several times and time is running out !
your current financial loan situation qualifies you for up to a 3 . 70 % lower rate .
however , due to our previous attempts to drop a line to
you were unsuccessful , this will be our final notice to lock you into the lower rate .
please finish this final step upon receiving
this notice immediately , and complete your claim now .
application here .
if your decision is not to make use of this final offer going here will help you to do so .
| 1 |
spam
|
friendly notification
|
this will be our last endeavor
we have made an effort to drop a line to you on several times and time is running out !
your current financial loan situation qualifies you for up to a 3 . 70 % lower rate .
however , due to our previous attempts to drop a line to
you were unsuccessful , this will be our final notice to lock you into the lower rate .
please finish this final step upon receiving
this notice immediately , and complete your claim now .
application here .
if your decision is not to make use of this final offer going here will help you to do so .
| 2005-06-21T00:00:00 |
32,807 |
latest profile sets stage for spectacular advances wysak petroieum ( wysk )
current price : 0 . 10
apr 25 , 2 oo 5 - - wysak petroleum is pleased to report that due diiigence is neariy compiete in regards to the company ' s further pianned leases in the wyoming oil region . management anticipates further news wiil be forthcoming shortly and wi | | report on deveiopments as they occur .
targets inciude properties in the powder river basin region and western wyoming ' s green river basin . acquisition of energy producing assets has always been the core objective of wysak ' s expansion strategy . wysak wil | strategicaily purchase | eases in know and proven oi | they include exxonmobiie , williams gas and western gas , among others .
about wyoming oi | & gas and coaibed methane ( cbm )
wyoming state has bi | | ions of do | | ars in proven oil and gas reserves . in 2 oo 2 , wyoming ranked second in the u . s . in proved reserves of natura | gas and seventh in proved reserves of crude oil . co | | ectiveiy over 26 , 000 we | | s produced 54 . 7 mi | | ion barreis of oi | and 1 . 75 triliion cubic feet of natura | gas . proved reserves of natura | gas were at an all - time high of 18 . 4 tri | | ion cubic feet , while proved reserves of crude oi | were 489 miliion barreis .
reserves of cbm in the powder river basin are estimated at 31 . 8 triliion cubic feet . neariy 10 o wells are being dri | | ed each week , and the gas companies say the entire 8 miliion - acre basin couid have 5 o , 000 to loo , 0 oo producing we | | s before they are finished . this is the largest onshore natura | gas play in north america within the last ten years .
about wysak petroieum
wysak is a diversified energy company whose goal is to identify and develop
traditiona | fossil fuel sites , as well as clean air aiternative energy producing
technoiogies . wysak controls one wyoming federa | oil they inciude exxonmobile ( xom ) , wi | | iams gas ( wmb ) ,
and western gas ( wgr ) among others . coilectiveiy , over 26 , 00 o we | | s produced
54 . 7 mi | | ion barrels of oi | and 1 . 75 tri | | ion cubic feet of natural gas in
wyoming
conciusion :
the exampies above show the awesome , earning potential of littie known companies that expiode onto investor ' s radar screens ; many of you are already famiiiar with this . is wysk poised and positioned to do that for you ? then you may feel the time has come to act . . . and please watch this one trade wednesday ! go wysk .
penny stocks are considered highly speculative and may be unsuitable for a | | but very aggressive investors . this profile is not in any way affiiiated with the featured company . we were compensated 3 oo 0 do | | ars to distribute this report . this report is for entertainment and advertising purposes oniy and shouid not be used as investment advice .
if you wish to stop future mailings , or if you fee | you have been
wrongfuily placed in our membership , please go here or send a biank
e mai | with no thanks in the subject to
noneedl 019 @ yahoo . com
| 1 |
spam
|
latest profile sets stage for spectacular advances
|
wysak petroieum ( wysk )
current price : 0 . 10
apr 25 , 2 oo 5 - - wysak petroleum is pleased to report that due diiigence is neariy compiete in regards to the company ' s further pianned leases in the wyoming oil region . management anticipates further news wiil be forthcoming shortly and wi | | report on deveiopments as they occur .
targets inciude properties in the powder river basin region and western wyoming ' s green river basin . acquisition of energy producing assets has always been the core objective of wysak ' s expansion strategy . wysak wil | strategicaily purchase | eases in know and proven oi | they include exxonmobiie , williams gas and western gas , among others .
about wyoming oi | & gas and coaibed methane ( cbm )
wyoming state has bi | | ions of do | | ars in proven oil and gas reserves . in 2 oo 2 , wyoming ranked second in the u . s . in proved reserves of natura | gas and seventh in proved reserves of crude oil . co | | ectiveiy over 26 , 000 we | | s produced 54 . 7 mi | | ion barreis of oi | and 1 . 75 triliion cubic feet of natura | gas . proved reserves of natura | gas were at an all - time high of 18 . 4 tri | | ion cubic feet , while proved reserves of crude oi | were 489 miliion barreis .
reserves of cbm in the powder river basin are estimated at 31 . 8 triliion cubic feet . neariy 10 o wells are being dri | | ed each week , and the gas companies say the entire 8 miliion - acre basin couid have 5 o , 000 to loo , 0 oo producing we | | s before they are finished . this is the largest onshore natura | gas play in north america within the last ten years .
about wysak petroieum
wysak is a diversified energy company whose goal is to identify and develop
traditiona | fossil fuel sites , as well as clean air aiternative energy producing
technoiogies . wysak controls one wyoming federa | oil they inciude exxonmobile ( xom ) , wi | | iams gas ( wmb ) ,
and western gas ( wgr ) among others . coilectiveiy , over 26 , 00 o we | | s produced
54 . 7 mi | | ion barrels of oi | and 1 . 75 tri | | ion cubic feet of natural gas in
wyoming
conciusion :
the exampies above show the awesome , earning potential of littie known companies that expiode onto investor ' s radar screens ; many of you are already famiiiar with this . is wysk poised and positioned to do that for you ? then you may feel the time has come to act . . . and please watch this one trade wednesday ! go wysk .
penny stocks are considered highly speculative and may be unsuitable for a | | but very aggressive investors . this profile is not in any way affiiiated with the featured company . we were compensated 3 oo 0 do | | ars to distribute this report . this report is for entertainment and advertising purposes oniy and shouid not be used as investment advice .
if you wish to stop future mailings , or if you fee | you have been
wrongfuily placed in our membership , please go here or send a biank
e mai | with no thanks in the subject to
noneedl 019 @ yahoo . com
| 2005-05-11T00:00:00 |
27,057 |
update information - verification required dear wells fargo customer ,
as you may already know , we at wells fargo guarantee your online
security and partner with you to prevent
fraud . due to the newly introduced comprehensive quarterly updates program
( which is meant to help you against identity theft , monitor your credit and
correct any possible errors ) , we urge you to go through the 2 steps wells fargo
account confirmation process . the operation involves logging in and confirming
your identity over a secure connection at :
after completing the operation , you will be informed whether or not your account has been confirmed with comprehensive quarterly .
thank you for working with us in combating online fraud and also , for choosing wells fargo as your financial institution .
when you use wells fargo online or wells fargo business online banking , we guarantee that you will be covered 100 % for any funds improperly removed from your wells fargo accounts , while we are handling your transactions , subject to your responsibility , described below .
brokerage accounts offered through wells fargo investments , llc ( member sipc ) , a non - bank affiliate of wells fargo company .
1999 - 2005 wells fargo bank . all rights reserved .
| 1 |
spam
|
update information - verification required
|
dear wells fargo customer ,
as you may already know , we at wells fargo guarantee your online
security and partner with you to prevent
fraud . due to the newly introduced comprehensive quarterly updates program
( which is meant to help you against identity theft , monitor your credit and
correct any possible errors ) , we urge you to go through the 2 steps wells fargo
account confirmation process . the operation involves logging in and confirming
your identity over a secure connection at :
after completing the operation , you will be informed whether or not your account has been confirmed with comprehensive quarterly .
thank you for working with us in combating online fraud and also , for choosing wells fargo as your financial institution .
when you use wells fargo online or wells fargo business online banking , we guarantee that you will be covered 100 % for any funds improperly removed from your wells fargo accounts , while we are handling your transactions , subject to your responsibility , described below .
brokerage accounts offered through wells fargo investments , llc ( member sipc ) , a non - bank affiliate of wells fargo company .
1999 - 2005 wells fargo bank . all rights reserved .
| 2005-07-17T00:00:00 |
6,602 |
energycast please could you sort out an guest id for one month .
- - - - - - - - - - - - - - - - - - - - - - forwarded by louise kitchen / hou / ect on 27 / 07 / 2000
13 : 59 - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
26 / 07 / 2000 09 : 05
to : louise kitchen / hou / ect @ ect
cc : vince j kaminski / hou / ect @ ect
subject : energycast
louise ,
can we grant him guest access to eol again ? he is he same
person who requested it a few weeks ago . evidently he was busy
working on another project .
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 07 / 26 / 2000
09 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" edward krapels " on 07 / 25 / 2000 11 : 09 : 47 am
please respond to ekrapels @ esaibos . com
to : vince j kaminski / hou / ect @ ect
cc :
subject : energycast
dear vince ,
i hope your trip to australia was successful . it ' s one of my favorite places
to go .
i ' ve copied you on the email to mike initiating enron ' s trial service to
energycast . thanks for helping to set this up .
would you ask the authorities in enron to refresh my access to enrononline ?
my guest user id as ena 61296 and my guest password was tr 84 byl 3 . they no
longer work , probably because i haven ' t visited the site in months as we
were in full development mode on energycast .
vince , you will note in our website references to forward prices of power in
nepool , nypp , and pjm . we use reuters as a reference - - not satisfactory . if
your traders like energycast and enron became a client , would enron consider
linking its prices to our site ? we have to improve over the reuters quotes
and regard enrononline or bloomberg as the best candidates . over time , as
our service spreads i believe this could help generate deal flow for your
traders .
let me know what you think .
ed
| 0 |
ham
|
energycast
|
please could you sort out an guest id for one month .
- - - - - - - - - - - - - - - - - - - - - - forwarded by louise kitchen / hou / ect on 27 / 07 / 2000
13 : 59 - - - - - - - - - - - - - - - - - - - - - - - - - - -
vince j kaminski
26 / 07 / 2000 09 : 05
to : louise kitchen / hou / ect @ ect
cc : vince j kaminski / hou / ect @ ect
subject : energycast
louise ,
can we grant him guest access to eol again ? he is he same
person who requested it a few weeks ago . evidently he was busy
working on another project .
vince
- - - - - - - - - - - - - - - - - - - - - - forwarded by vince j kaminski / hou / ect on 07 / 26 / 2000
09 : 06 am - - - - - - - - - - - - - - - - - - - - - - - - - - -
" edward krapels " on 07 / 25 / 2000 11 : 09 : 47 am
please respond to ekrapels @ esaibos . com
to : vince j kaminski / hou / ect @ ect
cc :
subject : energycast
dear vince ,
i hope your trip to australia was successful . it ' s one of my favorite places
to go .
i ' ve copied you on the email to mike initiating enron ' s trial service to
energycast . thanks for helping to set this up .
would you ask the authorities in enron to refresh my access to enrononline ?
my guest user id as ena 61296 and my guest password was tr 84 byl 3 . they no
longer work , probably because i haven ' t visited the site in months as we
were in full development mode on energycast .
vince , you will note in our website references to forward prices of power in
nepool , nypp , and pjm . we use reuters as a reference - - not satisfactory . if
your traders like energycast and enron became a client , would enron consider
linking its prices to our site ? we have to improve over the reuters quotes
and regard enrononline or bloomberg as the best candidates . over time , as
our service spreads i believe this could help generate deal flow for your
traders .
let me know what you think .
ed
| 2000-07-27T00:00:00 |
10,839 |
mail delivery failed : returning message to sender this message was created automatically by mail delivery software .
a message that you sent could not be delivered to one or more of its
recipients . this is a permanent error . the following address ( es ) failed :
stcelebrate 2002 @ aol . com
( ultimately generated from info @ something - to - celebrate . com )
smtp error from remote mailer after end of data :
host mailin - 01 . mx . aol . com [ 64 . 12 . 137 . 89 ] : 554 - :
( hvu : bl ) http : / / postmaster . info . aol . com / errors / 554 hvubl . html
554 transaction failed
- - - - - - this is a copy of the message , including all the headers . - - - - - -
return - path :
received : from [ 218 . 23 . 38 . 202 ] ( helo = mailwisconsin . com )
by discostu . angelsonoccasion . com with smtp ( exim 4 . 43 )
id ldupmn - 0001 st - jh
for info @ something - to - celebrate . com ; tue , 19 jul 2005 06 : 57 : 18 - 0400
received : from 205 . 214 . 42 . 66
( squirrelmail authenticated user projecthoneypot @ projecthoneypot . org ) ;
by mailwisconsin . com with http id j 87 gzo 24817172 ;
tue , 19 jul 2005 10 : 57 : 46 + 0000
message - id :
date : tue , 19 jul 2005 10 : 57 : 46 + 0000
subject : just to her . . .
from : " barry castillo "
to : info @ something - to - celebrate . com
user - agent : squirrelmail / 1 . 4 . 3 a
x - mailer : squirrelmail / 1 . 4 . 3 a
mime - version : 1 . 0
content - type : text / html ; charset = iso - 8859 - 1
content - transfer - encoding : 8 bit
x - priority : 3 ( normal )
importance : normal
soft viagra at $ 1 . 62 per dose
ready to boost your sex life ? positive ?
time to do it right now !
order soft viagra at incredibly low prices
starting at $ 1 . 99 per dose ! unbeiivable !
| 1 |
spam
|
mail delivery failed : returning message to sender
|
this message was created automatically by mail delivery software .
a message that you sent could not be delivered to one or more of its
recipients . this is a permanent error . the following address ( es ) failed :
stcelebrate 2002 @ aol . com
( ultimately generated from info @ something - to - celebrate . com )
smtp error from remote mailer after end of data :
host mailin - 01 . mx . aol . com [ 64 . 12 . 137 . 89 ] : 554 - :
( hvu : bl ) http : / / postmaster . info . aol . com / errors / 554 hvubl . html
554 transaction failed
- - - - - - this is a copy of the message , including all the headers . - - - - - -
return - path :
received : from [ 218 . 23 . 38 . 202 ] ( helo = mailwisconsin . com )
by discostu . angelsonoccasion . com with smtp ( exim 4 . 43 )
id ldupmn - 0001 st - jh
for info @ something - to - celebrate . com ; tue , 19 jul 2005 06 : 57 : 18 - 0400
received : from 205 . 214 . 42 . 66
( squirrelmail authenticated user projecthoneypot @ projecthoneypot . org ) ;
by mailwisconsin . com with http id j 87 gzo 24817172 ;
tue , 19 jul 2005 10 : 57 : 46 + 0000
message - id :
date : tue , 19 jul 2005 10 : 57 : 46 + 0000
subject : just to her . . .
from : " barry castillo "
to : info @ something - to - celebrate . com
user - agent : squirrelmail / 1 . 4 . 3 a
x - mailer : squirrelmail / 1 . 4 . 3 a
mime - version : 1 . 0
content - type : text / html ; charset = iso - 8859 - 1
content - transfer - encoding : 8 bit
x - priority : 3 ( normal )
importance : normal
soft viagra at $ 1 . 62 per dose
ready to boost your sex life ? positive ?
time to do it right now !
order soft viagra at incredibly low prices
starting at $ 1 . 99 per dose ! unbeiivable !
| 2005-07-19T00:00:00 |
5,857 |
re : energy derivatives conference - may 29 , toronto good morning amy :
vince kaminski will need the following :
an lcd projector to hook up to a lap tap for his presentation
he will have dinner with the conference organizers and speakers on the 29 th .
he will need 2 nights ( the 28 th and the 29 th ) hotel reservations .
he will send you an abstract shortly .
thanks and have a great day !
shirley crenshaw
713 - 853 - 5290
amy aldous on 03 / 31 / 2000 10 : 50 : 11 am
to : shirley . crenshaw @ enron . com
cc :
subject : re : energy derivatives conference - may 29 , toronto
ms . crenshaw ,
thank you for sending the bio so quickly . it ' s exactly what i was looking
for .
we are planning to compile the conference speakers ' papers for distribution
to the participants . while i will not need dr . kaminski ' s contribution for
several weeks , an abstract of his presentation as soon as possible would be
very useful to the conference organizers .
i will also need the following information :
- dr . kaminski ' s audio / video equipment requirements for his presentation
- will he be joining the conference organizers and speakers for dinner on
may 29 ?
- which nights will he be staying in toronto ? i will reserve a room at the
conference hotel
- any dietary restrictions or special requests
your help is much appreciated .
best wishes ,
amy
at 11 : 50 am 3 / 30 / 00 - 0600 , you wrote :
>
> amy :
>
> attached please find a short " bio " for dr . kaminski . please let me know
> if i can help further .
>
>
> ( see attached file : vincent kaminski bio . doc )
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
amy aldous , conference co - ordinator
centre for advanced studies in finance
university of waterloo
waterloo , on n 2 l 3 gl
tel : ( 519 ) 888 - 4567 ext . 5728
fax : ( 519 ) 888 - 7562
email : aaldous @ uwaterloo . ca
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
| 0 |
ham
|
re : energy derivatives conference - may 29 , toronto
|
good morning amy :
vince kaminski will need the following :
an lcd projector to hook up to a lap tap for his presentation
he will have dinner with the conference organizers and speakers on the 29 th .
he will need 2 nights ( the 28 th and the 29 th ) hotel reservations .
he will send you an abstract shortly .
thanks and have a great day !
shirley crenshaw
713 - 853 - 5290
amy aldous on 03 / 31 / 2000 10 : 50 : 11 am
to : shirley . crenshaw @ enron . com
cc :
subject : re : energy derivatives conference - may 29 , toronto
ms . crenshaw ,
thank you for sending the bio so quickly . it ' s exactly what i was looking
for .
we are planning to compile the conference speakers ' papers for distribution
to the participants . while i will not need dr . kaminski ' s contribution for
several weeks , an abstract of his presentation as soon as possible would be
very useful to the conference organizers .
i will also need the following information :
- dr . kaminski ' s audio / video equipment requirements for his presentation
- will he be joining the conference organizers and speakers for dinner on
may 29 ?
- which nights will he be staying in toronto ? i will reserve a room at the
conference hotel
- any dietary restrictions or special requests
your help is much appreciated .
best wishes ,
amy
at 11 : 50 am 3 / 30 / 00 - 0600 , you wrote :
>
> amy :
>
> attached please find a short " bio " for dr . kaminski . please let me know
> if i can help further .
>
>
> ( see attached file : vincent kaminski bio . doc )
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
amy aldous , conference co - ordinator
centre for advanced studies in finance
university of waterloo
waterloo , on n 2 l 3 gl
tel : ( 519 ) 888 - 4567 ext . 5728
fax : ( 519 ) 888 - 7562
email : aaldous @ uwaterloo . ca
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
| 2000-04-04T00:00:00 |
6,912 |
accounting adjustment kim ,
fyi . i checked on the progress of the accounting adjustment and was told it
would happen
this month .
vince
| 0 |
ham
|
accounting adjustment
|
kim ,
fyi . i checked on the progress of the accounting adjustment and was told it
would happen
this month .
vince
| 2000-08-28T00:00:00 |
1,948 |
performance management process - new password according to our system records , you have not yet logged into the enron
performance management system ( pep ) . as a result your temporary password
for the pep system has expired . your user id and new password are provided
below .
during the feedback phase you will need to access pep at
http : / / pep . corp . enron . com to suggest reviewers who can provide feedback on
your performance . you may also be requested to provide feedback on fellow
employees , but the system will only be open for feedback until november 17 th !
helpdesk representatives will be available to answer questions throughout the
process . you may contact the helpdesk at :
houston : 1 - 713 - 853 - 4777 , option 4
london : 44 - 207 - 783 - 4040 , option 4
e - mail : perfmgmt @ enron . com
your user id and new pep password are :
user id : 90011947
password : wsrxtivm
| 0 |
ham
|
performance management process - new password
|
according to our system records , you have not yet logged into the enron
performance management system ( pep ) . as a result your temporary password
for the pep system has expired . your user id and new password are provided
below .
during the feedback phase you will need to access pep at
http : / / pep . corp . enron . com to suggest reviewers who can provide feedback on
your performance . you may also be requested to provide feedback on fellow
employees , but the system will only be open for feedback until november 17 th !
helpdesk representatives will be available to answer questions throughout the
process . you may contact the helpdesk at :
houston : 1 - 713 - 853 - 4777 , option 4
london : 44 - 207 - 783 - 4040 , option 4
e - mail : perfmgmt @ enron . com
your user id and new pep password are :
user id : 90011947
password : wsrxtivm
| 2000-10-31T00:00:00 |
16,704 |
pending ferc order , west - wide mitigation the following report is comprised of what was discussed at the commission meeting held yesterday and additional intelligence gathered from ferc staffers after the meeting . we are awaiting the final order and will update this report as soon as it issues . generally , the order is expected to expand the scope of the commission ' s april 26 order , and this report will highlight the differences .
geographical scope - mitigation is extended to cover all 11 western states .
term - the term of the order will be extended to cover 2 summers . we expect the order to issue today . if so , the order will take effect at midnight tonight and continue in effect until 9 / 30 / 02 .
spot market - defined as sales of 24 hours or less , transacted on the day of delivery or the day prior to delivery .
must sell - to prevent physical withholding , the plan will require all sellers to offer all their available power in real time . all california generators , even those not subject to ferc price regulation , will be required to sell into the iso ' s real time market . sellers in the rest of the wscc are similarly required to sell , except that they are not required to sell into california and can choose their spot market . they will be required to post available power on the western systems power pool board . hydroelectric facilities will continue to be exempted .
price mitigation - expanded to be in place 24 hours per day , 7 days per week . applies to all sellers , including marketers and non - public utilities . the plan retains a single market clearing price auction for the spot market , based on marginal cost bids . the proxy price formula is changed in several respects :
1 . gas price will be the average of the mid - point of the monthly bid week prices as reported in gas daily for malin , socal gas large packages and pg & e city gate .
2 . o provided that marketers may not bid above the proxy price . ferc will consider the entire portfolio of a seller who seeks to justify a higher price than the proxy . generators may seek cost based rates for their entire portfolio in ca if they so choose ( i . e . no cherry picking ) .
demand side management - the plan originally set forth in the april 26 order is expected be removed in this order .
iso reporting - iso will need to report on a quarterly basis as to the status of building supply in ca .
comments - comments will be sought on the issue of whether the price mitigation formula should be adjusted in response to expected varying load conditions due to seasonal changes .
settlement conference - the settlement judge will convene a settlement conference on the refund issue no later than june 25 ( next monday ) and the parties will have 15 days to settle . a report from the judge to the commission is due 7 days thereafter ( for a total of 22 days ) .
issues that are not expected to be addressed in the order include confidentiality , iso board issues , iso scheduling penalty application , and market based rate authorization . the order is not finally issued as of yet , and the status of the foregoing items could change upon issuance of a final order . we will keep you posted .
ray alvarez
| 0 |
ham
|
pending ferc order , west - wide mitigation
|
the following report is comprised of what was discussed at the commission meeting held yesterday and additional intelligence gathered from ferc staffers after the meeting . we are awaiting the final order and will update this report as soon as it issues . generally , the order is expected to expand the scope of the commission ' s april 26 order , and this report will highlight the differences .
geographical scope - mitigation is extended to cover all 11 western states .
term - the term of the order will be extended to cover 2 summers . we expect the order to issue today . if so , the order will take effect at midnight tonight and continue in effect until 9 / 30 / 02 .
spot market - defined as sales of 24 hours or less , transacted on the day of delivery or the day prior to delivery .
must sell - to prevent physical withholding , the plan will require all sellers to offer all their available power in real time . all california generators , even those not subject to ferc price regulation , will be required to sell into the iso ' s real time market . sellers in the rest of the wscc are similarly required to sell , except that they are not required to sell into california and can choose their spot market . they will be required to post available power on the western systems power pool board . hydroelectric facilities will continue to be exempted .
price mitigation - expanded to be in place 24 hours per day , 7 days per week . applies to all sellers , including marketers and non - public utilities . the plan retains a single market clearing price auction for the spot market , based on marginal cost bids . the proxy price formula is changed in several respects :
1 . gas price will be the average of the mid - point of the monthly bid week prices as reported in gas daily for malin , socal gas large packages and pg & e city gate .
2 . o provided that marketers may not bid above the proxy price . ferc will consider the entire portfolio of a seller who seeks to justify a higher price than the proxy . generators may seek cost based rates for their entire portfolio in ca if they so choose ( i . e . no cherry picking ) .
demand side management - the plan originally set forth in the april 26 order is expected be removed in this order .
iso reporting - iso will need to report on a quarterly basis as to the status of building supply in ca .
comments - comments will be sought on the issue of whether the price mitigation formula should be adjusted in response to expected varying load conditions due to seasonal changes .
settlement conference - the settlement judge will convene a settlement conference on the refund issue no later than june 25 ( next monday ) and the parties will have 15 days to settle . a report from the judge to the commission is due 7 days thereafter ( for a total of 22 days ) .
issues that are not expected to be addressed in the order include confidentiality , iso board issues , iso scheduling penalty application , and market based rate authorization . the order is not finally issued as of yet , and the status of the foregoing items could change upon issuance of a final order . we will keep you posted .
ray alvarez
| 2001-06-19T00:00:00 |
23,140 |
business risk management as a follow up to the 2000 audit plan , please be advised that we have not
received to date the matrix reporting packages to enable my group to update
the brm database on all audits since the beginning of the 2000 plan year as
well as the capital books audit for 1999 . would you please make sure we get
the following reports as soon as possible so we can get them in the
database . if you have any questions , please let me know . thank you . donna
reports needed :
capital books ( 1999 )
enron online
trading controls group
database system management
coal
equity comparables
merchant asset portfolio
grms
risk controls group
pulp , paper & lumber
related party & affiliate activities
investment portfolio activity reporting & analysis
phoenix / lim
this includes all reports that were scheduled to be completed through june
2000 .
| 0 |
ham
|
business risk management
|
as a follow up to the 2000 audit plan , please be advised that we have not
received to date the matrix reporting packages to enable my group to update
the brm database on all audits since the beginning of the 2000 plan year as
well as the capital books audit for 1999 . would you please make sure we get
the following reports as soon as possible so we can get them in the
database . if you have any questions , please let me know . thank you . donna
reports needed :
capital books ( 1999 )
enron online
trading controls group
database system management
coal
equity comparables
merchant asset portfolio
grms
risk controls group
pulp , paper & lumber
related party & affiliate activities
investment portfolio activity reporting & analysis
phoenix / lim
this includes all reports that were scheduled to be completed through june
2000 .
| 2000-08-09T00:00:00 |
17,918 |
start date : 1 / 28 / 02 ; hourahead hour : 11 ; start date : 1 / 28 / 02 ; hourahead hour : 11 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012811 . txt
| 0 |
ham
|
start date : 1 / 28 / 02 ; hourahead hour : 11 ;
|
start date : 1 / 28 / 02 ; hourahead hour : 11 ; no ancillary schedules awarded . no variances detected .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002012811 . txt
| 2002-01-28T00:00:00 |
1,168 |
plant outage affecting " meter # 8291 " enron methanol please advise me if you want the 36 . 0 / day term deal bought back for days ;
july 4 th & july 5 th .
presently , the buyback deal { # 139058 } is being allocated 35 , 261 mm for day
7 / 4 th & 35 , 903 for day 7 / 5 th .
daily flow for 7 / 4 th = 739 mm - & - 7 / 5 th = 97 mm .
the term deal of 36 . 0 mm has been bought back for july 6 th thru july 16 th .
| 0 |
ham
|
plant outage affecting " meter # 8291 " enron methanol
|
please advise me if you want the 36 . 0 / day term deal bought back for days ;
july 4 th & july 5 th .
presently , the buyback deal { # 139058 } is being allocated 35 , 261 mm for day
7 / 4 th & 35 , 903 for day 7 / 5 th .
daily flow for 7 / 4 th = 739 mm - & - 7 / 5 th = 97 mm .
the term deal of 36 . 0 mm has been bought back for july 6 th thru july 16 th .
| 2000-07-11T00:00:00 |
11,149 |
re : restraining order i think the concern is around scott mills . he was brought down to accelerate the mid / back - office fixes for ees , primarily as it relates to system changes / improvements . we ' re bringing anthony dayao back from japan to head up ees it and he ' ll be leaning on scott quite a bit i believe .
how does your schedule look later today or tomorrow ? i would like to sit down for a few minutes to discuss the status of the eol products for ees / ena and also to talk a little bit about some customer overlap between the two groups and how to handle it . i ' ll have kay set up some time for us .
| 0 |
ham
|
re : restraining order
|
i think the concern is around scott mills . he was brought down to accelerate the mid / back - office fixes for ees , primarily as it relates to system changes / improvements . we ' re bringing anthony dayao back from japan to head up ees it and he ' ll be leaning on scott quite a bit i believe .
how does your schedule look later today or tomorrow ? i would like to sit down for a few minutes to discuss the status of the eol products for ees / ena and also to talk a little bit about some customer overlap between the two groups and how to handle it . i ' ll have kay set up some time for us .
| 2001-03-13T00:00:00 |
27,585 |
what is oem software and why do you care ? get discounted oem software from online store !
when the judgement ' s weak , the prejudice is strong .
when there are monsters there are miracles .
| 1 |
spam
|
what is oem software and why do you care ?
|
get discounted oem software from online store !
when the judgement ' s weak , the prejudice is strong .
when there are monsters there are miracles .
| 2005-07-21T00:00:00 |
13,560 |
sempra fred ,
i looked at volumes , below is what we need to sell sempra . please let keep us posted .
thanks
frank
month $ # k rec . amt . mmbtu
nov . 3 . 04 263 $ 8 , 000 , 000 10000
dec . 3 . 18 157 $ 5 , 000 , 000 10000
jan . 3 . 31 211 $ 7 , 000 , 000 10000
632 contracts to sell
| 0 |
ham
|
sempra
|
fred ,
i looked at volumes , below is what we need to sell sempra . please let keep us posted .
thanks
frank
month $ # k rec . amt . mmbtu
nov . 3 . 04 263 $ 8 , 000 , 000 10000
dec . 3 . 18 157 $ 5 , 000 , 000 10000
jan . 3 . 31 211 $ 7 , 000 , 000 10000
632 contracts to sell
| 2001-10-26T00:00:00 |
16,234 |
winning notification ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! luckyday lottery international program .
international promotions / prize award dep .
laan van hoornwijck 2289 dg rijswijk ,
den haag - the netherlands .
e - mail : infoluckydayinfo @ netscape . net
website : luckyday . nl
ref . kfm / 9083428767 / 02 / tca
bacth no : 10 / 25 / 0742
attn : winning notification ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
we happily announce to you the draw of the netherlands lottery international programs held on the 10 th of may 2005 in netherlands . your e - mail address attached to ticket number : 564 75644545 188 with serial number 3398 / 09 drew the lucky numbers : 31 - 6 - 97 - 13 - 40 - 6 , which subsequently won you the lottery in the a category .
you have therefore been approved to claim a total sum of 1 , 000 , 000 . 00 ( one million euros in cash credited to file kpc / 9080118308 / 02 / tca . this is from a total cash prize of 10 , 000 , 000 . 00 million euros shared amongst the first ten ( 10 ) lucky winners in this category .
all participants were selected randomly from ' world wide web ' site through computer draw system and extracted from over 100 , 000 companies . this promotion takes place annually . for security reasons , you are advised to keep your winning information confidential till your claims is processed and your money remitted to you in whatever manner you deem fit to claim your prize . this is a part of our precautionary measure to avoid double claiming and unwarranted abuse of this program by some unscrupulous elements .
note : all winnings must be notarized and a certificate of award must be obtained from the netherlands gaming control board to complete the claims process , this certificate can only be obtained through legal representation so winners will be referred to our regional director to assist in this process . winners are to cover the legal charges for the notarization of the claims form and the acquisition of the certificate of award not luckyday .
to file for your claim , please contact our regional office with the details below for processing and release of your winning .
name : mr . kelvin morrison .
tel : + 31 624 408267
fax : + 31 847 306501
e - mail : infoluckydayinfo @ netscape . net
luckyday redemption centre , amsterdam . the netherlands .
note that all claims process and clearance procedures must be duly completed not later than 30 th of may 2005 to avoid impersonation arising to the issue of double claim .
to avoid unnecessary delays and complications , please quote your reference / batch numbers in any correspondences with us or our designated agent .
congratulations once more from all members and staffs of this program .
yours faithfully ,
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zonal lottery coordinator .
check - out go . com
go get your free go e - mail account with expanded storage of 6 mb !
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| 1 |
spam
|
winning notification ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
|
luckyday lottery international program .
international promotions / prize award dep .
laan van hoornwijck 2289 dg rijswijk ,
den haag - the netherlands .
e - mail : infoluckydayinfo @ netscape . net
website : luckyday . nl
ref . kfm / 9083428767 / 02 / tca
bacth no : 10 / 25 / 0742
attn : winning notification ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! !
we happily announce to you the draw of the netherlands lottery international programs held on the 10 th of may 2005 in netherlands . your e - mail address attached to ticket number : 564 75644545 188 with serial number 3398 / 09 drew the lucky numbers : 31 - 6 - 97 - 13 - 40 - 6 , which subsequently won you the lottery in the a category .
you have therefore been approved to claim a total sum of 1 , 000 , 000 . 00 ( one million euros in cash credited to file kpc / 9080118308 / 02 / tca . this is from a total cash prize of 10 , 000 , 000 . 00 million euros shared amongst the first ten ( 10 ) lucky winners in this category .
all participants were selected randomly from ' world wide web ' site through computer draw system and extracted from over 100 , 000 companies . this promotion takes place annually . for security reasons , you are advised to keep your winning information confidential till your claims is processed and your money remitted to you in whatever manner you deem fit to claim your prize . this is a part of our precautionary measure to avoid double claiming and unwarranted abuse of this program by some unscrupulous elements .
note : all winnings must be notarized and a certificate of award must be obtained from the netherlands gaming control board to complete the claims process , this certificate can only be obtained through legal representation so winners will be referred to our regional director to assist in this process . winners are to cover the legal charges for the notarization of the claims form and the acquisition of the certificate of award not luckyday .
to file for your claim , please contact our regional office with the details below for processing and release of your winning .
name : mr . kelvin morrison .
tel : + 31 624 408267
fax : + 31 847 306501
e - mail : infoluckydayinfo @ netscape . net
luckyday redemption centre , amsterdam . the netherlands .
note that all claims process and clearance procedures must be duly completed not later than 30 th of may 2005 to avoid impersonation arising to the issue of double claim .
to avoid unnecessary delays and complications , please quote your reference / batch numbers in any correspondences with us or our designated agent .
congratulations once more from all members and staffs of this program .
yours faithfully ,
mrs . harrieth smith
zonal lottery coordinator .
check - out go . com
go get your free go e - mail account with expanded storage of 6 mb !
http : / / mail . go . com
| 2005-05-12T00:00:00 |
3,392 |
order confirmation from footlocker . com dear daren :
thank you for ordering from footlocker . com
? order number : 1206478 . 00
? customer number : 2481611
? your order will ship within approximately 24 hours upon credit card company approval .
your order detail :
order # 1206478 . 00 received on : july 18 , 2001
shipping to :
daren farmer
2747 meadow tree
spring
tx , 77388
281 - 288 - 8251
qty price product no . description
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1 $ 29 . 99 39362101 nike men ' s air team unite ( 10 . 5 | white / black )
subtotal : $ 29 . 99
tax : $ 2 . 68
shipping : $ 6 . 99
discounts : ( $ 0 . 00 )
credits : ( $ 0 . 00 )
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
total : $ 39 . 66
| 0 |
ham
|
order confirmation from footlocker . com
|
dear daren :
thank you for ordering from footlocker . com
? order number : 1206478 . 00
? customer number : 2481611
? your order will ship within approximately 24 hours upon credit card company approval .
your order detail :
order # 1206478 . 00 received on : july 18 , 2001
shipping to :
daren farmer
2747 meadow tree
spring
tx , 77388
281 - 288 - 8251
qty price product no . description
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
1 $ 29 . 99 39362101 nike men ' s air team unite ( 10 . 5 | white / black )
subtotal : $ 29 . 99
tax : $ 2 . 68
shipping : $ 6 . 99
discounts : ( $ 0 . 00 )
credits : ( $ 0 . 00 )
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
total : $ 39 . 66
| 2001-07-18T00:00:00 |
1,983 |
enron / hpl actuals for november 3 - 5 , 2000 november 3 , 2000
teco tap 30 . 000 / enron ; 114 . 583 / hpl gas daily
november 4 , 200
teco tap 139 . 167 / hpl gas daily
ls hpl lsk ic 30 . 000 / enron
november 5 , 2000
teco tap 85 . 000 / hpl gas daily
ls hpl lsk ic 30 . 000 / enron
| 0 |
ham
|
enron / hpl actuals for november 3 - 5 , 2000
|
november 3 , 2000
teco tap 30 . 000 / enron ; 114 . 583 / hpl gas daily
november 4 , 200
teco tap 139 . 167 / hpl gas daily
ls hpl lsk ic 30 . 000 / enron
november 5 , 2000
teco tap 85 . 000 / hpl gas daily
ls hpl lsk ic 30 . 000 / enron
| 2000-11-06T00:00:00 |
19,208 |
new message . you have [ 1 ] new message .
please view it at :
your message will automatically be deleted in 5 days .
filler misshapen dairy carmen anglicanism errant finessing cowbell
kodak anger genuine arthritis asperity barnstorm placental delectable
hemorrhage bender update bulldoze coleman acme herschel safekeeping
bobbie total paranoia audiovisual piggyback sousa intransigent nubia
purslane opalescent pigeon eva magnesite them riboflavin dostoevsky
delicti vie badge apocalyptic burglar aerobic bulb haughty
arduous emilio section arsenide porcelain tachistoscope caribbean corpse
retard counterman basil natty jackanapes brim escapade crusty
seance dim resultant valletta grandiloquent domenico abel sykes
bequest latex marshal fireside speckle cheney deniable buffoon
weight al antioch keep elsewhere clergymen corporate athletic
fallacious mclaughlin guardia alsatian dachshund coaxial intone eigenfunction
arachne arcturus dissuade buchwald cellular isocline toothpaste vinyl
concision homily bade offload audubon aftermath waterfall contagion
contradistinction synonymous thereupon formulae koenig memento affectionate checkbook
makeup council mettle fervent tone cornwall isentropic jazzy
2
| 1 |
spam
|
new message .
|
you have [ 1 ] new message .
please view it at :
your message will automatically be deleted in 5 days .
filler misshapen dairy carmen anglicanism errant finessing cowbell
kodak anger genuine arthritis asperity barnstorm placental delectable
hemorrhage bender update bulldoze coleman acme herschel safekeeping
bobbie total paranoia audiovisual piggyback sousa intransigent nubia
purslane opalescent pigeon eva magnesite them riboflavin dostoevsky
delicti vie badge apocalyptic burglar aerobic bulb haughty
arduous emilio section arsenide porcelain tachistoscope caribbean corpse
retard counterman basil natty jackanapes brim escapade crusty
seance dim resultant valletta grandiloquent domenico abel sykes
bequest latex marshal fireside speckle cheney deniable buffoon
weight al antioch keep elsewhere clergymen corporate athletic
fallacious mclaughlin guardia alsatian dachshund coaxial intone eigenfunction
arachne arcturus dissuade buchwald cellular isocline toothpaste vinyl
concision homily bade offload audubon aftermath waterfall contagion
contradistinction synonymous thereupon formulae koenig memento affectionate checkbook
makeup council mettle fervent tone cornwall isentropic jazzy
2
| 2004-06-25T00:00:00 |
509 |
re : deal 156071 feb 00 daren ,
i must be missing something . can i meet with you today and show you what i
have ?
thu
daren j farmer
03 / 23 / 2000 02 : 53 pm
to : thu nguyen / hou / ect @ ect
cc : sherlyn schumack / hou / ect @ ect
subject : re : deal 156071 feb 00
no , deal 156071 is good for days 7 - 29 .
to : daren j farmer / hou / ect @ ect
cc : sherlyn schumack / hou / ect @ ect
subject : re : deal 156071 feb 00
daren ,
there are only two deals on pgev pipeline : deal # 156071 - valid 02 / 01 / 00 -
02 / 29 / 00 , and deal # 208083 - valid for 02 / 01 / 00 - 02 / 06 / 00 . should there be
another deal for days 7 - 29 ? ? thanks
thu
daren j farmer
03 / 23 / 2000 11 : 19 am
to : thu nguyen / hou / ect @ ect
cc :
subject : re : deal 156071 feb 00
the actuals should be allocated to the new ticket which has been nom ' d ,
tracked . and balanced .
d
from : thu nguyen 03 / 22 / 2000 07 : 33 pm
to : daren j farmer / hou / ect @ ect
cc : howard b camp / hou / ect @ ect
subject : deal 156071 feb 00
daren ,
this is one of the deals which you told me to zero out . unfortunately , i do
not allocate pgev . also , sherlyn has actualized pgev and she has the
support from the pipeline for the 1746918 volume . please let me know if i
had missed something in our conversation . thanks
thu
| 0 |
ham
|
re : deal 156071 feb 00
|
daren ,
i must be missing something . can i meet with you today and show you what i
have ?
thu
daren j farmer
03 / 23 / 2000 02 : 53 pm
to : thu nguyen / hou / ect @ ect
cc : sherlyn schumack / hou / ect @ ect
subject : re : deal 156071 feb 00
no , deal 156071 is good for days 7 - 29 .
to : daren j farmer / hou / ect @ ect
cc : sherlyn schumack / hou / ect @ ect
subject : re : deal 156071 feb 00
daren ,
there are only two deals on pgev pipeline : deal # 156071 - valid 02 / 01 / 00 -
02 / 29 / 00 , and deal # 208083 - valid for 02 / 01 / 00 - 02 / 06 / 00 . should there be
another deal for days 7 - 29 ? ? thanks
thu
daren j farmer
03 / 23 / 2000 11 : 19 am
to : thu nguyen / hou / ect @ ect
cc :
subject : re : deal 156071 feb 00
the actuals should be allocated to the new ticket which has been nom ' d ,
tracked . and balanced .
d
from : thu nguyen 03 / 22 / 2000 07 : 33 pm
to : daren j farmer / hou / ect @ ect
cc : howard b camp / hou / ect @ ect
subject : deal 156071 feb 00
daren ,
this is one of the deals which you told me to zero out . unfortunately , i do
not allocate pgev . also , sherlyn has actualized pgev and she has the
support from the pipeline for the 1746918 volume . please let me know if i
had missed something in our conversation . thanks
thu
| 2000-03-23T00:00:00 |
265 |
2000 goals & objectives - - - - - - - - - - - - - - - - - - - - - - forwarded by beth a ryan / hou / ect on 02 / 07 / 2000 03 : 38
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
brian redmond
02 / 07 / 2000 03 : 35 pm
to :
cc :
subject : 2000 goals & objectives
team :
the attached provides a summary of our goals & objectives for 2000 . we have
a number of challenges this year , but we making good progress building on our
success in 1999 .
the 2000 goals and objectives were developed as part of last year ' s budget
process and were refined during our recent offsite . a compilation of the
presentations from the offsite were distributed to each of the vp ' s for
discussion with their groups . it will take continued effort from each of us
to shift our source of earnings from monetizations to commercial
origination . as always , your ideas and active participation is encouraged .
regards ,
brian
| 0 |
ham
|
2000 goals & objectives
|
- - - - - - - - - - - - - - - - - - - - - - forwarded by beth a ryan / hou / ect on 02 / 07 / 2000 03 : 38
pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
brian redmond
02 / 07 / 2000 03 : 35 pm
to :
cc :
subject : 2000 goals & objectives
team :
the attached provides a summary of our goals & objectives for 2000 . we have
a number of challenges this year , but we making good progress building on our
success in 1999 .
the 2000 goals and objectives were developed as part of last year ' s budget
process and were refined during our recent offsite . a compilation of the
presentations from the offsite were distributed to each of the vp ' s for
discussion with their groups . it will take continued effort from each of us
to shift our source of earnings from monetizations to commercial
origination . as always , your ideas and active participation is encouraged .
regards ,
brian
| 2000-02-07T00:00:00 |
31,856 |
cost \ / 11 agrra , adlpex , xanaax , tussioneex , \ / all 1 um , ambl 1 en , clal 1 is from $ 65 medicine equipped ladies price bed going with likely peculiar lay young life ,
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prom 0 tion running now :
\ / aliuum : from $ 70
ambiien : from $ 68
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xanaax : from $ 75
& many more meds for u to choose from account
dont miss this prom 0 tionlimited stock until all sold out ( this way please )
spoke liked cover . town ,
| 1 |
spam
|
cost \ / 11 agrra , adlpex , xanaax , tussioneex , \ / all 1 um , ambl 1 en , clal 1 is from $ 65 medicine equipped ladies
|
price bed going with likely peculiar lay young life ,
xanaax , \ / alium , cialiis , \ / iaagra , ambieen & all popular medssno long questioning form , you pay & we shiip out today statementworldwide shippiing however
prom 0 tion running now :
\ / aliuum : from $ 70
ambiien : from $ 68
ciaaliis : from $ 96
\ / iaagra : from $ 64
xanaax : from $ 75
& many more meds for u to choose from account
dont miss this prom 0 tionlimited stock until all sold out ( this way please )
spoke liked cover . town ,
| 2005-02-18T00:00:00 |
29,535 |
fwd : announcement very well , when you dive , ned , as many times 32 feet of water as there are above you , so many times does your body bear a pressure equal to that of the atmosphere , that is to say , 15 lb
< a href = " http : / / www . praise 4 m 3 ds . com / index . php ? id = 122 and i give here an extract from a carefully - studied article which i published in the number of the 30 th of april . the human mind delights in grand conceptions of supernatural beings ? the darkness was then profound , and , however good the canadian ' s eyes .
| 1 |
spam
|
fwd : announcement
|
very well , when you dive , ned , as many times 32 feet of water as there are above you , so many times does your body bear a pressure equal to that of the atmosphere , that is to say , 15 lb
< a href = " http : / / www . praise 4 m 3 ds . com / index . php ? id = 122 and i give here an extract from a carefully - studied article which i published in the number of the 30 th of april . the human mind delights in grand conceptions of supernatural beings ? the darkness was then profound , and , however good the canadian ' s eyes .
| 2004-09-01T00:00:00 |
13,344 |
enron mentions enron cuts shareholder equity by 1 . 2 bln usd due to partnership deal
afx news , 10 / 18 / 01
calif energy panel oks first step for 1160 mw in projects
dow jones energy service , 10 / 18 / 01
usa : enron ' s stock slides as equity reduction digested .
reuters english news service , 10 / 18 / 01
brazil ' s copene , elektro plan to sell 820 mln reais of bonds
bloomberg , 10 / 18 / 01
enron cuts shareholder equity by 1 . 2 bln usd due to partnership deal
10 / 18 / 2001
afx news
( c ) 2001 by afp - extel news ltd
london ( afx ) - enron corp said it has reduced its shareholder equity by 1 . 2 bln usd as the company decided to repurchase 55 mln of its shares that it had issued as part of a series of complex transactions with an investment vehicle connected to its chief financial officer , andrew fastow , the wall street journal reported in its online edition .
enron did not disclose the big equity reduction in its earnings release issued on tuesday , when the houston - based energy giant announced a 1 . 01 bln usd charge to third - quarter earnings that produced a 618 mln usd loss .
however , the company briefly mentioned it in a subsequent call with security analysts and confirmed it in response to questions yesterday . as a result of the reduction , enron ' s shareholder equity dropped to 9 . 5 bln usd , the company said .
in an interview , enron chairman kenneth lay said about 35 mln usd of the 1 . 01 bln usd charge to earnings was related to transactions with ljm 2 co - investment lp , a limited partnership created and run by fastow .
in a conference call yesterday with investors , lay said 55 mln shares had been repurchased by enron , as the company " unwound " its participation in the transactions . in the third quarter , the company ' s average number of shares outstanding was 913 mln .
according to rick causey , enron ' s chief accounting officer , these shares were contributed to a " structured finance vehicle " set up about two years ago in which enron and ljm 2 were the only investors . in exchange for the stock , the entity provided enron with a note .
the aim of the transaction was to provide hedges against fluctuating values in some of enron ' s broadband telecommunications and other technology investments . causey did not elaborate on what form those hedges took .
subsequently , both the value of enron ' s stock and the value of the broadband investments hedged by the entity dropped sharply , the report said . as a result , enron decided essentially to dissolve the financing vehicle and reacquire the shares . when enron reacquired the shares , it also canceled the note it had received from the entity .
given all the complexities of the ljm - related financing vehicle and the questions it raised outside the company , " the confusion factor wasn ' t worth the trouble of trying to continue this , " causey said .
mark palmer , an enron spokesman , described the capital reduction " as just a balance - sheet issue " and therefore was not deemed " material " for disclosure purposes .
gc for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
calif energy panel oks first step for 1160 mw in projects
10 / 18 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones 323 - 658 - 3872 ; jessica . berthold @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
usa : enron ' s stock slides as equity reduction digested .
10 / 18 / 2001
reuters english news service
( c ) reuters limited 2001 .
houston , oct 18 ( reuters ) - enron corp . stock fell sharply on thursday as investors digested news of a $ 1 . 2 billion reduction in the energy giant ' s shareholder equity that attracted little attention when it was first disclosed earlier this week .
in afternoon trading enron ' s stock was off $ 2 . 96 or , 9 . 2 percent at $ 29 . 24 per share .
enron reported its first quarterly loss in over four years on tuesday after taking charges of $ 1 . 01 billion against earnings to cover expenses and writedowns on investments that fall outside its core wholesale energy operations .
the reduction in shareholder equity was not mentioned in the company ' s earnings statement but was discussed by chairman and chief executive ken lay in an earnings conference call with analysts and investors on tuesday .
" confidence has been shaken by the incremental disclosure . this is an extremely widely held stock and to assume that everybody listened to the conference call is probably asking too much , " said one analyst who asked not to be identified .
the reduction in equity was prominently reported in the wall street journal on thursday , bringing it to the attention of a wider audience , analysts said .
lay said the equity writedown and a corresponding reduction in the number of enron shares outstanding were related to the early termination of structured finance arrangements which had drawn criticism from some wall street analysts .
as a result of the operation , enron ' s debt to total capitalization ratio will rise to about 50 percent , but the company expects the proceeds of asset sales to reduce the ratio to around 40 percent by the end of next year , lay said .
moody ' s investor service said earlier this week that it had placed all of enron ' s long - term debt obligations on review for a possible downgrade because writedowns and charges had substantially reduced valuations for several enron businesses .
some of enron ' s financing arrangements require the company to maintain investment grade credit ratings .
copyright ? 2000 dow jones & company , inc . all rights reserved .
brazil ' s copene , elektro plan to sell 820 mln reais of bonds
2001 - 10 - 18 13 : 53 ( new york )
rio de janeiro , oct . 18 ( bloomberg ) - - two brazilian
companies have asked securities regulators for permission to sell
820 million reais ( $ 279 million ) of bonds , raising the amount of
pending local market bond sales to 7 . 5 billion reais .
brazil ' s copene - petroquemica do nordeste sa , a petrochemical
company , has asked brazil ' s government for permission to sell 625
million reais of bonds according to the country ' s security and
exchange regulator , the cvm . banco citibank sa , the brazilian unit
of citigroup inc . , will manage the sale .
elektro eletricidade e servicos sa , an electricity utility
controlled by u . s . - based enron corp . that distributes electricity
in sao paulo state , has asked for permission to sell 195 million
reais of bonds , according to a cvm filing .
no further details about the sales was immediately available .
brazilian companies have scrambled to sell debt at home as
the local currency , the real , plunges against the dollar , making
dollar - denominated debt expensive and causing losses to mount as
the local currency value of dollar debts soars .
so far this year , about 9 . 1 billion reais of local market
debt has been sold . meanwhile corporate bond sales in euros or
dollars has slipped by almost two thirds to $ 1 . 7 billion in the
third quarter from $ 4 . 5 billion in the second , not including sales
through offshore subsidiaries , according to bloomberg data .
| 0 |
ham
|
enron mentions
|
enron cuts shareholder equity by 1 . 2 bln usd due to partnership deal
afx news , 10 / 18 / 01
calif energy panel oks first step for 1160 mw in projects
dow jones energy service , 10 / 18 / 01
usa : enron ' s stock slides as equity reduction digested .
reuters english news service , 10 / 18 / 01
brazil ' s copene , elektro plan to sell 820 mln reais of bonds
bloomberg , 10 / 18 / 01
enron cuts shareholder equity by 1 . 2 bln usd due to partnership deal
10 / 18 / 2001
afx news
( c ) 2001 by afp - extel news ltd
london ( afx ) - enron corp said it has reduced its shareholder equity by 1 . 2 bln usd as the company decided to repurchase 55 mln of its shares that it had issued as part of a series of complex transactions with an investment vehicle connected to its chief financial officer , andrew fastow , the wall street journal reported in its online edition .
enron did not disclose the big equity reduction in its earnings release issued on tuesday , when the houston - based energy giant announced a 1 . 01 bln usd charge to third - quarter earnings that produced a 618 mln usd loss .
however , the company briefly mentioned it in a subsequent call with security analysts and confirmed it in response to questions yesterday . as a result of the reduction , enron ' s shareholder equity dropped to 9 . 5 bln usd , the company said .
in an interview , enron chairman kenneth lay said about 35 mln usd of the 1 . 01 bln usd charge to earnings was related to transactions with ljm 2 co - investment lp , a limited partnership created and run by fastow .
in a conference call yesterday with investors , lay said 55 mln shares had been repurchased by enron , as the company " unwound " its participation in the transactions . in the third quarter , the company ' s average number of shares outstanding was 913 mln .
according to rick causey , enron ' s chief accounting officer , these shares were contributed to a " structured finance vehicle " set up about two years ago in which enron and ljm 2 were the only investors . in exchange for the stock , the entity provided enron with a note .
the aim of the transaction was to provide hedges against fluctuating values in some of enron ' s broadband telecommunications and other technology investments . causey did not elaborate on what form those hedges took .
subsequently , both the value of enron ' s stock and the value of the broadband investments hedged by the entity dropped sharply , the report said . as a result , enron decided essentially to dissolve the financing vehicle and reacquire the shares . when enron reacquired the shares , it also canceled the note it had received from the entity .
given all the complexities of the ljm - related financing vehicle and the questions it raised outside the company , " the confusion factor wasn ' t worth the trouble of trying to continue this , " causey said .
mark palmer , an enron spokesman , described the capital reduction " as just a balance - sheet issue " and therefore was not deemed " material " for disclosure purposes .
gc for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
calif energy panel oks first step for 1160 mw in projects
10 / 18 / 2001
dow jones energy service
( copyright ( c ) 2001 , dow jones 323 - 658 - 3872 ; jessica . berthold @ dowjones . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
usa : enron ' s stock slides as equity reduction digested .
10 / 18 / 2001
reuters english news service
( c ) reuters limited 2001 .
houston , oct 18 ( reuters ) - enron corp . stock fell sharply on thursday as investors digested news of a $ 1 . 2 billion reduction in the energy giant ' s shareholder equity that attracted little attention when it was first disclosed earlier this week .
in afternoon trading enron ' s stock was off $ 2 . 96 or , 9 . 2 percent at $ 29 . 24 per share .
enron reported its first quarterly loss in over four years on tuesday after taking charges of $ 1 . 01 billion against earnings to cover expenses and writedowns on investments that fall outside its core wholesale energy operations .
the reduction in shareholder equity was not mentioned in the company ' s earnings statement but was discussed by chairman and chief executive ken lay in an earnings conference call with analysts and investors on tuesday .
" confidence has been shaken by the incremental disclosure . this is an extremely widely held stock and to assume that everybody listened to the conference call is probably asking too much , " said one analyst who asked not to be identified .
the reduction in equity was prominently reported in the wall street journal on thursday , bringing it to the attention of a wider audience , analysts said .
lay said the equity writedown and a corresponding reduction in the number of enron shares outstanding were related to the early termination of structured finance arrangements which had drawn criticism from some wall street analysts .
as a result of the operation , enron ' s debt to total capitalization ratio will rise to about 50 percent , but the company expects the proceeds of asset sales to reduce the ratio to around 40 percent by the end of next year , lay said .
moody ' s investor service said earlier this week that it had placed all of enron ' s long - term debt obligations on review for a possible downgrade because writedowns and charges had substantially reduced valuations for several enron businesses .
some of enron ' s financing arrangements require the company to maintain investment grade credit ratings .
copyright ? 2000 dow jones & company , inc . all rights reserved .
brazil ' s copene , elektro plan to sell 820 mln reais of bonds
2001 - 10 - 18 13 : 53 ( new york )
rio de janeiro , oct . 18 ( bloomberg ) - - two brazilian
companies have asked securities regulators for permission to sell
820 million reais ( $ 279 million ) of bonds , raising the amount of
pending local market bond sales to 7 . 5 billion reais .
brazil ' s copene - petroquemica do nordeste sa , a petrochemical
company , has asked brazil ' s government for permission to sell 625
million reais of bonds according to the country ' s security and
exchange regulator , the cvm . banco citibank sa , the brazilian unit
of citigroup inc . , will manage the sale .
elektro eletricidade e servicos sa , an electricity utility
controlled by u . s . - based enron corp . that distributes electricity
in sao paulo state , has asked for permission to sell 195 million
reais of bonds , according to a cvm filing .
no further details about the sales was immediately available .
brazilian companies have scrambled to sell debt at home as
the local currency , the real , plunges against the dollar , making
dollar - denominated debt expensive and causing losses to mount as
the local currency value of dollar debts soars .
so far this year , about 9 . 1 billion reais of local market
debt has been sold . meanwhile corporate bond sales in euros or
dollars has slipped by almost two thirds to $ 1 . 7 billion in the
third quarter from $ 4 . 5 billion in the second , not including sales
through offshore subsidiaries , according to bloomberg data .
| 2001-10-18T00:00:00 |
18,408 |
this will help you be the best in the sack dermal patch technology
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erisk iconference 4 / 11 / 2001 please save this e - mail . it contains important information
about your event .
thank you for registering for practical considerations in measuring
economic capital , scheduled for wednesday , april 11 th , 2001 at
12 noon eastern / 5 p . m . london time .
click this link to visit the erisk . com homepage :
http : / / www . erisk . com
erisk iconference instructions :
1 . dial 1 - 877 - 864 - 3651 ( u . s . ) or + 1 - 973 - 341 - 3037 ( international ) to
listen to the audio for this program . audio is available by
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2 . when prompted , enter the confirmation code 105764 , followed
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3 . join the web - based portion of the program to see slides ,
participate in polls and ask questions .
- open netscape or internet explorer 3 . 0 or higher .
- enter the following web address : http : / / www . communicast . com / login
4 . fill out the form on this page and enter the following
confirmation number : 105764 .
5 . click the " communicast now " button . in a few moments you will
be placed in the erisk iconference .
communicast system requirements :
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- netscape or internet explorer browsers 3 . 0 or higher .
if this is your first communicast event , you may wish to test your computer .
visit http : / / www . communicast . com / login at any time and click the " test "
button at the bottom of the page . for this conference , you may skip the
last three tests relating to streaming audio . you will not need realplayer
to participate in this conference .
if you require further assistance , contact support @ communicast . com .
| 0 |
ham
|
erisk iconference 4 / 11 / 2001
|
please save this e - mail . it contains important information
about your event .
thank you for registering for practical considerations in measuring
economic capital , scheduled for wednesday , april 11 th , 2001 at
12 noon eastern / 5 p . m . london time .
click this link to visit the erisk . com homepage :
http : / / www . erisk . com
erisk iconference instructions :
1 . dial 1 - 877 - 864 - 3651 ( u . s . ) or + 1 - 973 - 341 - 3037 ( international ) to
listen to the audio for this program . audio is available by
telephone only .
2 . when prompted , enter the confirmation code 105764 , followed
by the " # " key . music will play until the conference begins .
3 . join the web - based portion of the program to see slides ,
participate in polls and ask questions .
- open netscape or internet explorer 3 . 0 or higher .
- enter the following web address : http : / / www . communicast . com / login
4 . fill out the form on this page and enter the following
confirmation number : 105764 .
5 . click the " communicast now " button . in a few moments you will
be placed in the erisk iconference .
communicast system requirements :
- communicast requires the ability to run java applets .
- netscape or internet explorer browsers 3 . 0 or higher .
if this is your first communicast event , you may wish to test your computer .
visit http : / / www . communicast . com / login at any time and click the " test "
button at the bottom of the page . for this conference , you may skip the
last three tests relating to streaming audio . you will not need realplayer
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if you require further assistance , contact support @ communicast . com .
| 2001-04-04T00:00:00 |
3,428 |
tufco deal 108058 buddy - daren farmer called and said that on 4 / 30 / 2001 , on hpl deal # 108058 , that there was around 20 , 000 mmbtu scheduled , but when it was actualized , it was actualized at 0 . he thinks this is incorrect . can you check into this and get back with daren ? i ' ll be out of the office tomorrow , so please get back with him directly . thanks .
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tufco deal 108058
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buddy - daren farmer called and said that on 4 / 30 / 2001 , on hpl deal # 108058 , that there was around 20 , 000 mmbtu scheduled , but when it was actualized , it was actualized at 0 . he thinks this is incorrect . can you check into this and get back with daren ? i ' ll be out of the office tomorrow , so please get back with him directly . thanks .
| 2001-08-14T00:00:00 |
13,520 |
enron mentions enron replaces fastow as finance chief - - - mcmahon takes over post ; move follows concerns over partnership deals
the wall street journal , 10 / 25 / 01
enron ousts finance chief as s . e . c . looks at dealings
the new york times , 10 / 25 / 01
pressured enron ousts cfo
the washington post , 10 / 25 / 01
enron replaces cfo to reassure investors
houston chronicle , 10 / 25 / 01
front page - first section - enron replaces finance chief .
financial times ( u . k . edition ) , 10 / 25 / 01
companies appoints mcmahon
afx news , 10 / 25 / 01
enron : embattled chief financial officer ousted
chicago tribune , 10 / 25 / 01
enron ousts cfo amid sec probe
los angeles times , 10 / 25 / 01
shell - shocked enron parts with cfo
thestreet . com , 10 / 25 / 01
phew ! enron stinks
realmoney . com , 10 / 25 / 01
small - stock focus : russell 2000 ekes out increase ; adtran , arris group post gains
the wall street journal , 10 / 25 / 01
u . s . directors to be graded by activist : the ' bond ' treatment ( toronto edition headline . ) ; directors to get the bond treatment : members of boards to be graded by shareholder activists ( all but toronto edition headline . )
national post , 10 / 25 / 01
uk : u . s . stocks drift in europe as wary tone persists .
reuters english news service , 10 / 25 / 01
world stock markets - wall st favours us tech stocks over blue chips americas .
financial times ( u . k . edition ) , 10 / 25 / 01
enron replaces cfo andy fastow
cbsmarketwatch , 10 / 25 / 01
usa : update 1 - beleaguered enron names new cfo .
reuters english news service , 10 / 24 / 01
usa : utility stocks drop on slipping expectations .
reuters english news service , 10 / 24 / 01
berger move follows concerns over partnership deals
by rebecca smith and john r . emshwiller
staff reporters of the wall street journal
10 / 25 / 2001
the wall street journal
a 3
( copyright ( c ) 2001 , dow jones & company , inc . )
enron corp . replaced its embattled chief financial officer , andrew s . fastow , capping a tumultuous day in which the huge energy company saw its stock price again fall sharply and help pull down the share prices of other major energy - trading companies .
investors appeared worried that enron ' s recent woes could have a destabilizing effect on the energy - trading market . the houston energy powerhouse , with annualized revenue topping $ 150 billion and assets of more than $ 60 billion , handles transactions representing roughly one - quarter of the nation ' s traded - electricity and natural - gas volumes . in less than two years of operation , its enrononline trading platform has become a central marketplace for the energy business and already has handled more than $ 880 billion in transactions .
" enron makes the market . make no mistake about that , " said merrill lynch analyst donato eassey . " there ' s not a trader out there that doesn ' t use enrononline . " as such , enron enters into thousands of transactions every day in which the company ' s credit - worthiness is critical . enron said its business operations were functioning normally yesterday . the company also has consistently said it is financially strong and liquid .
enron said its new chief financial officer is jeffrey mcmahon , the 40 - year - old head of the company ' s industrial - markets division . his selection may be intended , in part , to raise the company ' s credibility . people familiar with the matter say mr . mcmahon left his job as treasurer last year after voicing concerns within the company about mr . fastow ' s role in running two limited partnerships that were involved in billions of dollars worth of transactions with enron . internal partnership documents indicate mr . fastow and possibly a handful of associates made millions of dollars from the partnerships . mr . fastow severed his ties with those partnerships in july in the face of increasing conflict - of - interest concerns being expressed by wall street analysts and major enron investors . on monday , enron announced that the securities and exchange commission was looking into the fastow - related transactions .
while enron as recently as tuesday strongly defended mr . fastow , as well as the company ' s dealings with the partnerships , controversy over those arrangements clearly played a role in the executive ' s departure . " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " said chairman and chief executive kenneth lay in a prepared statement .
enron said mr . fastow " will be on a leave of absence from the company . " he couldn ' t be reached for comment .
it remains to be seen how much mr . fastow ' s removal will assuage an increasingly restive investment community . the action came after the 4 p . m . market close and followed a day in which enron ' s stock once again plunged . as of 4 p . m . in new york stock exchange composite trading , enron shares were at $ 16 . 41 , down $ 3 . 38 , or 17 % . it topped the big board ' s most active list at nearly 76 million shares , more than twice the volume of the second - most - active stock . several trades yesterday involved blocks of 800 , 000 shares or more , possibly indicating that some institutional holders are souring on enron stock .
enron ' s shares are down about 50 % from the beginning of last week . earlier this year , the stock was above $ 80 a share .
in an apparent ripple effect , the stocks of other energy - trading companies , which do business with enron , also fell sharply yesterday . for instance , dynegy inc . shares on the big board were off $ 5 . 45 , or 13 % , at $ 37 . 26 . a number of the energy companies hit by the selloff have business strategies much different than enron ' s , which rely heavily on complex and highly structured investment vehicles .
prudential securities analyst carol coale said mr . fastow ' s departure could be seen as evidence that " management does care " about investor concerns . however , she adds , the move also could be viewed by some investors , coming as it did two days after the announcement of the sec inquiry , as " an admission of guilt . " ms . coale yesterday issued a sell recommendation on enron largely because of uncertainties about the company ' s extremely complex financial structure .
enron has consistently denied any wrongdoing in its fastow - related dealings .
worries and rumors about enron ' s financial strength could be found in the stock market yesterday . goldman sachs analyst david fleischer said he heard people voice concerns about a possible " death spiral " in which increasing credit concerns about enron would decrease the number of people willing to do business with the company , which would in turn weaken its finances and lead to further business reductions . mr . fleischer , a longtime fan who still has a buy recommendation on the company , said he hasn ' t yet seen any evidence of such a problem .
however , mr . fleischer said , enron needs to disclose more information about its myriad of financial transactions with related partnerships and other entities . enron is facing a problem with " trust and credibility . it ' s not easy to regain something as basic as trust , " he said .
copyright ? 2000 dow jones section c
enron ousts finance chief as s . e . c . looks at dealings
by floyd norris
10 / 25 / 2001
the new york times
page 2 , column 5
c . 2001 new york times company
the enron corporation , its stock battered by a sudden loss of investor confidence , yesterday ousted its chief financial officer , andrew s . fastow , whose involvement in complicated transactions with enron has drawn the scrutiny of the securities and exchange commission .
' ' in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as c . f . o . , ' ' kenneth l . lay , enron ' s chairman and chief executive , said in a statement announcing the change . only one day before , mr . lay had told investors in a conference call that he and the enron board ' ' continue to have the highest faith and confidence in andy . ' '
the company said that mr . fastow had taken a leave of absence , but it also named his successor , jeffrey mcmahon , the head of enron ' s industrial markets group and a former corporate treasurer .
enron said none of the officials were available for interviews last night .
the move came after the close of trading on the new york stock exchange , where enron ' s shares fell $ 3 . 38 , to $ 16 . 41 . the price has been cut in half since oct . 16 , when enron reported its third - quarter earnings . a $ 1 . 2 billion reduction in shareholder equity brought on by ending some relationships with partnerships that mr . fastow had headed was not disclosed in the earnings news release . mr . lay briefly mentioned it in the conference call that followed , but some analysts thought he was referring to a separate $ 1 billion write - off that was disclosed in the earnings document , and were angered when they later learned about it .
on tuesday , when both mr . fastow and mr . lay discussed the company with analysts on the conference call , neither was willing to discuss details of the transactions between enron and the partnerships formerly controlled by mr . fastow . mr . lay cited the s . e . c . inquiry in declining to discuss the details of the transactions .
the fact the transactions took place has been known for a year , but enron ' s disclosures have been widely criticized for being impossible to understand .
by structuring the deals as involving forward commitments to deliver enron stock , it appears that enron was able to assure that losses on them would not lead to reported losses , but instead to reductions of shareholder equity that had no effect on the income statement . that is one of the issues the s . e . c . , whose inquiries were disclosed monday by the company , is expected to address .
concerns have also grown this week over whether enron will face losses from complicated financing strategies that kept billions of dollars of debts off its balance sheet but left the company responsible for paying - - either in cash or with stock - - if things went wrong . on tuesday , mr . fastow assured investors that the company ' ' expects to continue to have sufficient liquidity to meet normal obligations , ' ' and said it had bank credit lines that were more than adequate .
mr . fastow was viewed as one of the architects , with jeffrey k . skilling , the former enron chief executive who resigned in august , of the change in business strategy that turned enron from a gas - pipeline company into a an energy trading powerhouse that developed a large wall street following . its stock price peaked in the summer of 2000 at $ 90 . 75 .
according to a person close to the company , while mr . mcmahon , mr . fastow ' s successor , was enron ' s treasurer , he told mr . skilling , who at the time was the chief operating officer , that he thought the partnerships involving mr . fastow presented a conflict of interest . after that discussion , mr . mcmahon moved to a different job at the company , this person said .
shares of enron traded as low as $ 15 . 51 yesterday afternoon , the lowest price for the stock since early 1995 , before recovering . in after - hours trading , they fell to $ 16 . 14 .
one of the factors that hurt the stock yesterday was a decision by m . carol coale , an analyst at prudential securities , to drop her rating to ' ' sell ' ' from ' ' hold . ' ' she had lowered the rating to ' ' hold ' ' from ' ' buy ' ' on monday .
' ' after the s . e . c . inquiry was announced , ' ' she said in an interview yesterday evening , ' ' enron should have addressed it by delivering a scapegoat , as a gesture to the street . now they are replacing him today . the timing is a little late , but i think it will be received positively by the street . ' '
but she said that investor sentiment might work the other way . ' ' people could fear that if you remove fastow from the management team , you ' ll never get any answers . ' '
copyright ? 2000 dow jones & company , inc . all rights reserved .
financial
pressured enron ousts cfo
10 / 25 / 2001
the washington post
final
eo 2
copyright 2001 , the washington post co . all rights reserved
enron replaced andrew fastow as its chief financial officer , a day after chief executive kenneth lay stressed the company ' s confidence in fastow , who performed dual roles as the energy giant ' s cfo while managing partnerships with which enron did business . " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " lay said in a statement . the partnerships have been dissolved .
http : / / www . washingtonpost . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
oct . 25 , 2001 , 12 : 06 am
houston chronicle
enron replaces cfo to reassure investors
by laura goldberg
copyright 2001 houston chronicle
in a bid to repair its badly damaged credibility on wall street , houston - based enron corp . removed its chief financial officer wednesday , as federal securities regulators review business dealings between enron and two investment partnerships that he ran .
enron , the world ' s largest energy trader , said chief financial officer andrew fastow had been put on a " leave of absence " for an undetermined period and named another enron executive , jeff mcmahon , as his replacement . the company said the move was not a reflection on fastow or a belief that he had done anything improper .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " enron chairman and ceo ken lay said in a statement after the stock market closed on a day investors continued dumping shares .
enron , which had seen its stock battered this year for a variety of reasons , found itself high on wall street ' s hit list after it released third - quarter earnings on oct 16 .
the earnings report drew renewed attention to something investors and analysts had already expressed displeasure at : fastow , with the approval of enron ' s board , had formed and run two investment partnerships - - ljm cayman and ljm 2 co - investment .
the partnerships , which did complex financing and hedging deals with enron , served as a source of funding for enron projects and investments .
but wall street questioned how fastow could watch out for the interests of enron ' s shareholders and the investment partnership at the same time .
so fastow , in june , resigned his roles at the partnerships and enron also ended its relationships with the ljm entities . during the third - quarter , enron took a $ 35 million loss related to ending its ljm ties as well as a $ 1 . 2 billion reduction in shareholder equity .
tuesday , lay told analysts and investors that procedures were rigorously followed to ensure the interests of enron and its shareholders were protected in dealings with the ljm partnerships . he said a " chinese wall " existed between enron and ljm .
fastow ' s replacement , mcmahon , previously served as enron ' s treasurer before moving last year to another job with enron . most recently , he headed up the company ' s industrial markets group . a source close to enron said mcmahon asked to be reassigned from the treasurer ' s job because he was uncomfortable with the fastow - ljm setup .
enron spokesman mark palmer said neither fastow nor mcmahon was available for comment wednesday . he also didn ' t know whether fastow is still receiving a salary .
enron disclosed on monday that federal securities regulators had begun an " informal inquiry " into the ljm dealings .
the news proved terrible for a company already working to rebuild investor confidence after a series of failed investments in telecommunications , water and retail power businesses and the surprise resignation of ceo jeff skilling in august for personal reasons .
a continuously growing number of shareholder lawsuits against enron followed the earnings report and the news of the sec inquiry .
wall street has stepped up its chronic complaints that enron ' s various financial dealings are too complex to follow and that the company fails to give analysts enough data to make proper evaluations .
beyond the ljm partnerships , investors are concerned about two other partnerships enron set up . among the worries is that enron will end up having to issue new shares of stock to cover commitments associated with those entities .
investors wouldn ' t like that because it would dilute the value of current outstanding shares . they are also afraid that enron ' s debt credit rating may be downgraded , which could have negative impacts on its overall business .
in the last six days , enron ' s shares have closed lower and lower . on oct . 16 , the stock closed at $ 33 . 84 . on wednesday it closed at $ 16 . 41 , down $ 3 . 38 .
wednesday , the hubbub surrounding enron also dragged down shares in other companies that engage in energy trading , including houston - based dynegy , which closed down $ 5 . 45 at $ 37 . 26 . there is concern enron ' s woes could in some way end up harming the energy trading markets .
a conference call lay and senior executives , including fastow , held with analysts tuesday to help clear up questions didn ' t go as enron hoped .
on wednesday , carol coale , an analyst with prudential securities in houston , moved from a " hold " to a " sell " rating .
front page - first section - enron replaces finance chief .
by julie earle and sheila mcnulty .
10 / 25 / 2001
financial times ( u . k . edition )
( c ) 2001 financial times limited . all rights reserved
front page - first section - enron replaces finance chief - energy company attempts to halt sharp decline in its share price .
enron , the us energy group , yesterday replaced its embattled chief financial officer , andrew fastow , to try to halt a slide in its share price , which has lost about 40 per cent of its value this week .
kenneth lay , enron ' s chief executive officer , said after the market closed that mr fastow was taking a leave of absence . the move came a day after mr lay defended mr fastow amid questions about his ties to controversial partnerships that had forced enron to take a $ 1 . 2 bn write - off .
that loss , revealed last week , sparked the share sell - off amid concerns there may be more bad news to come . enron disclosed the loss during an october 16 conference call with analysts on its third - quarter results , saying the charge stemmed from closing funding mechanisms that enron had set up in the partnerships established with mr fastow .
analysts say the charge has not been satisfactorily explained , leading to confusion among investors and an unofficial inquiry by the securities and exchange commission .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " mr lay said . he said jeff mcmahon , chairman and chief executive of enron ' s industrial markets group , would replace mr fastow . mr mcmahon earlier served as enron ' s treasurer .
analysts said it was unclear whether mr fastow ' s departure would be enough . carol coale , of prudential securities , said the move was positive in demonstrating that enron was being sensitive to wall street , which had called for mr fastow to be replaced . yet , she added , it came three days after those calls .
ms coale issued a " sell " recommendation on enron earlier yesterday , leading to a drop of almost 18 per cent in its share price . " we are concerned about what we don ' t know , " ms coale said . she was concerned that enron might have to sell assets below book value to maintain its credit rating , or be forced to issue equity to bolster its balance sheet . enron might also lose customers to competitors that were not under such pressure .
enron believes such concerns are misplaced and the sec inquiry will prove the company has done nothing wrong . lex , page 16 .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
companies & finance the americas - ' sell ' note issued on enron shares .
by sheila mcnulty .
10 / 25 / 2001
financial times ( u . k . edition )
( c ) 2001 financial times limited . all rights reserved
shares in enron , the us energy group , fell again yesterday after prudential securities issued a " sell " note on concerns that the $ 1 . 2 bn loss taken by the company last week might not be the end of its bad news .
in the first hour of new york stock exchange trading , enron ' s stock was the biggest percentage loser , dropping 20 . 2 per cent to $ 15 . 80 - its lowest level since august 1995 . /
" we are concerned about what we don ' t know , " said carol coale , the prudential analyst who covers enron .
she was disappointed that enron had not been more forthcoming in the conference call it held on tuesday in response to charges it was not being transparent .
investors have been abandoning the stock since october 16 , when enron told analysts it was taking a $ 1 . 2 bn loss in shutting down funding mechanisms it had set up in controversial partnerships established with andrew fastow , the chief financial officer .
this charge has not been thoroughly explained , leading to confusion among analysts and an unofficial inquiry by the securities and exchange commission .
ms coale said she was concerned enron might have to sell assets below book value to maintain its credit rating , or be forced to issue equity to bolster its balance sheet . she said enron might lose customers to competitors that are not under such pressure .
enron believes such concerns are misplaced and that the sec enquiry will prove that the company has done nothing wrong .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
lex column - enron .
10 / 25 / 2001
financial times ( u . k . edition )
( c ) 2001 financial times limited . all rights reserved
enron
to lose a chief executive may be regarded as a misfortune . to lose the chief financial officer as well looks like carelessness .
enron ' s effort to increase transparency , revealing more operating data in its third quarter release , was undermined by its decision to gloss over a $ 1 . 2 bn equity charge related to the closing of " related party transactions " with two off - balance sheet financing vehicles . and it neglected to mention that the vehicles were run by andrew fastow , its cfo . conflict of interest anyone ?
the securities and exchange commission is conducting an informal inquiry . investors , angry after the initial revelation , had reason to feel more so after its conference call , which was supposed to clear up confusion over the financing vehicles and related party transactions . the call had the opposite effect .
the charge to shareholders ' equity , and the related reduction in notes receivable , was the result of closing one of the vehicles - and the termination of previously recorded contractual obligations to deliver enron shares . the uncertainty is whether enron might have to sell assets or issue new stock to cover possible shortfalls in other vehicles . credit concerns and lack of disclosure explain the weakness of stock and bond prices . enron is unlikely to lose its investment grade status , but dilution is a real risk for shareholders . mr fastow has gone ( following jeffrey skilling , former chief executive , who quit after only six months as ceo ) . but the credibility problem goes beyond one individual .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron corp . cut to ` market perform ' at banc of america
2001 - 10 - 25 08 : 49 ( new york )
princeton , new jersey , oct . 25 ( bloomberg data ) - - enron corp . ( ene us )
was downgraded to ` ` market perform ' ' from ` ` strong buy ' ' by analyst william j
maze at banc of america .
baring asset management ' s mcclen on enron : investor comments
2001 - 10 - 25 08 : 09 ( new york )
london , oct . 25 ( bloomberg ) - - the following are comments by
catherine mcclen , who helps manage about $ 17 billion of bonds for
baring asset management , about enron corp .
yesterday , enron ousted chief financial officer andrew fastow
amid a securities and exchange commission inquiry into
partnerships he ran that cost the largest energy trader
$ 35 million . mcclen said baring bought credit - linked notes issued
by houston - based enron during the summer .
` ` given what has happened , with them basically firing andy
fastow , the cfo , they ' ve finally woken up to how concerned people
are about the management - credibility issue . ' ' on a recent
conference call ` ` no one thought they did themselves any favor in
terms of calming investors ' concerns . ' '
` ` they were slightly hiding behind the fact that the sec has
got this inquiry going . the fact that two days later andy is gone ,
and he was in the center , is a good sign that the company is
realizing just how concerned investors are . ' '
` ` there ' s always that worry once the sec gets involved that
it could extend . you never know what could come of that . ' '
` ` there is a bit of fear of the unknown about enron now , with
the sec inquiry and the risk that there could be further asset
write - downs . ' '
` ` another thing they ' re criticized for is their lack of
disclosure . we still haven ' t seen a balance sheet for the third
quarter . ' '
` ` people are saying , why don ' t you include a balance sheet
with your results ? they promised better disclosure in the past and
that was meant to begin in the third quarter . ' '
` ` you ' d like to see just more information on asset write -
downs and a discussion of their off - balance - sheet financing - - all
these vehicles they have like marlin and osprey . ' '
` ` we ' d like to see some clarity , answering those sort of
questions . ' '
` ` it seems as though enron at least are maybe at the start of
a process where they ' re going to address and clean up their
balance sheet and they ' ve started to replace management . ' '
` ` investors have already had enough issues ' ' in corporate
bonds recently and ` ` sometimes investors just think , ` not another
nasty in my portfolio , ' and i ' d rather exit . ' '
` ` for certain investors maybe they just get scared . i wanted
to know more about it . people had speculated if it could go to
junk . i don ' t think they could because i don ' t think enron could
exist as a junk company . ' '
` ` there ' s a certain reluctance ' ' to sell the bonds . ` ` you
want to stand back for a moment and look at the fundamentals . ' '
` ` when the spreads have already moved out that wide you have
to reassess and see whether you think it ' s a buying opportunity . ' '
- - christine harper in the london newsroom ( 44 20 ) 7330 - 7982 or
charper @ bloomberg . net / jom
enron ousts cfo amid partnership questions
by pam easton
associated press writer
10 / 25 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
houston ( ap ) - enron corp . may have added another question to the list investors already have by ousting its chief financial officer a day after the company stressed its confidence in andrew fastow amid a securities and exchange commission inquiry .
" it could either be viewed as a positive step toward easing investor concern or it could be interpreted as if enron removed the cfo at the request of the sec , " prudential securities inc . analyst carol coale said wednesday . " who knows ? "
enron officials hope it will result in increased investor confidence after the energy trading giant ' s stocks have declined in value each day since monday ' s announcement that the sec had inquired about partnerships that did business with enron while they were managed by fastow .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " enron chief executive officer kenneth lay said after markets closed wednesday .
fastow will take a leave of absence from the company while jeff mcmahon , who has served as chairman and chief executive of enron ' s industrial markets group , takes over his role .
" i think change is good at this particular point in time , " said fac equities analyst robert christensen said . " i think andy was somewhat beleaguered . "
a . g . edwards & sons analyst mike heim , however , said it will take more than replacing fastow as chief financial officer to clear the uncertainty looming in the financial world about enron and its partnerships .
" i think the reason why the stock has been declining so sharply the last few days is due to a lack of clarity on the partnership arrangements , " heim said .
replacing fastow alone won ' t clarify those arrangements , he added .
" there is still uncertainty despite promises by management to be more transparent to the financial community , " heim said . " instead of being more transparent there is more confusion than ever . "
enron ' s stock continued to plummet wednesday , closing down $ 3 . 38 to $ 16 . 41 per share , a 17 percent decline .
since the wall street journal first reported on the partnerships last week , enron ' s stock price has slid nearly 52 percent .
" the market was asking for that to happen , " j . p . morgan analyst anatol feygin said of fastow ' s departure . " this is really the first time enron has acted as an agent of the shareholder in this crisis . "
previously , enron ' s managers have been " cautious and defensive in their approach , " he said .
during a conference call tuesday to address investor concern , lay said the partnerships were fully disclosed and contained measures to ensure no conflict existed as fastow carried out the dual roles . the partnerships have since been dissolved .
the call didn ' t work for many , including feygin and heim .
" i didn ' t hear things like we ' ve unrolled all these partnership dealings or here ' s all the exact details of how the partnerships work or we don ' t ever expect to take any more charges , " heim said . " what i heard is we don ' t have to disclose that information until the 10 - q is filed . "
the turbulent past few months which have included the sec inquiry , third quarter losses and the august resignation of the company ' s chief executive officer , jeff skilling , have left many analysts questioning the company ' s future , heim said .
" it ' s really a speculative bet right now , but the odds favor the company being able to weather the storm and being a healthy company if not a year from now , two years from now , " he said .
but much is going to depend on how much enron discloses to its investors , feygin said .
feygin said mcmahon worked as enron ' s treasurer for two years under fastow before a disagreement over fastow ' s involvement in the partnerships caused mcmahon to leave his job as treasurer .
" internally , jeff was always a proponent of andy not being involved in ( the partnerships ) , " feygin said . " three days ago i would have said there is no need for a change at the cfo level . today , it was pretty obvious it was something enron needed to do . "
copyright ? 2000 dow jones & company , inc . all rights reserved .
financial post investing
hot stock
enron fires cfo to quell unrest : stock meltdown
jason chow
financial post , with files from bloomberg news
10 / 25 / 2001
national post
national
inl / front
( c ) national post 2001 . all rights reserved .
facing a crisis of confidence in the market , enron corp . replaced its chief financial officer yesterday as its stock continued to tumble .
after failing to rally the support of analysts in a damage - control conference call tuesday , the houston - based energy trader dropped chief financial officer andrew fastow , who has been linked to transactions being looked at by the securities and exchange commission . he was replaced by former treasurer jeff mcmahon .
the move came after enron shares ( ene / nyse ) dropped us $ 3 . 38 to us $ 16 . 41 . the stock has dropped 55 % in the past two weeks - - wiping out us $ 10 - billion of shareholder wealth .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " enron chief executive kenneth lay said .
early last week , enron reported a us $ 618 - million third - quarter loss , resulting from us $ 1 . 01 - billion in write - offs .
the company also disclosed a us $ 1 . 2 - billion reduction in shareholder equity for the quarter as a result of terminating certain transactions related to a partnership that for a time was headed by mr . fastow .
in july , mr . fastow ended his connection to the partnership in the face of growing concerns by analysts and major investors . the sec is currently looking into the partnership arrangement .
the turmoil of the past several days prompted enron to schedule a conference call tuesday morning with wall street analysts to reassure investors .
during the call , enron officials declined to specify mr . fastow ' s role in the partnership , citing the ongoing sec investigation and a derivative lawsuit filed against enron that alleges its board breached its fiduciary duties by allowing mr . fastow to create and run the partnerships .
the stock came under renewed pressure early in the day after analyst carol coale of prudential financial downgraded the stock for the second time this week , to " sell " from " hold . " ms . coale said the rating change is " not because of things we do know but because of things that we potentially don ' t know about the company . "
volume was very heavy , with 75 . 8 million shares changing hands . average daily volume is 6 . 7 million shares .
j . p . morgan analyst anatol feygin was also less than impressed with enron ' s line during the conference call .
the company acknowledged that transactions with partnerships run by its chief financial officer led to a writedown of us $ 1 . 2 - billion in shareholder equity . but mr . feygin said management was " defensive " when pressed for details .
ms . coale reduced her price target down us $ 15 from us $ 55 , assuming more bad news was to come .
while the allegations of impropriety cloud enron , mr . feygin said the company ' s credit situation could be the more crucial factor for its short - term fortunes .
last week , moody ' s investors service placed all us $ 13 - billion of the company ' s long - term debt securities on watch for possible downgrade . if moody ' s lowered its rating , enron ' s short - term debt costs would rise .
copyright ? 2000 dow jones appoints mcmahon
10 / 25 / 2001
afx news
( c ) 2001 by afp - extel news ltd
houston ( afx ) - enron corp said it named jeff mcmahon chief financial officer in place of andrew fastow .
announcing mcmahon ' s appointment , chairman kenneth lay said : " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo . "
enron shares have fallen sharply in recent days on concerns over financial transactions made with the two ljm partnerships run by fastow , which analysts said could affect future earnings and which have prompted class action suits against the company .
on monday , enron announced that the securities and exchange commission was looking into the fastow - related transactions .
mcmahon had been serving as chairman and ceo of enron ' s industrial markets group .
the wall street journal quoted people familiar with the matter as saying mcmahon left his job as treasurer last year after voicing concerns within the company about fastow ' s role in running the two partnerships .
internal documents indicate fastow and possibly a handful of associates made millions of dollars from the partnerships , the newspaper reported .
jms for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones n
2
( copyright 2001 by the chicago tribune )
enron corp . ousted andrew fastow as its chief financial officer wednesday , a day after chief executive kenneth lay stressed the company ' s confidence in him despite growing controversy over fastow ' s role overseeing partnerships that did business with the energy - trading giant .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " lay said in a statement . .
the company said fastow had taken a leave of absence , but it also named his successor , jeff mcmahon , the head of enron ' s industrial markets group and a former corporate treasurer .
the move came after the close of trading on the new york stock exchange , where enron ' s shares fell $ 3 . 38 , to $ 16 . 41 . the price has been cut in half since oct . 16 , after enron ' s third - quarter earnings release failed to disclose the partnerships .
copyright ? 2000 dow jones financial desk
enron ousts cfo amid sec probe
bloomberg news
10 / 25 / 2001
los angeles times
home edition
c - 3
copyright 2001 / the times mirror company
houston - - enron corp . ousted chief financial officer andrew fastow wednesday amid a securities and exchange commission inquiry into partnerships he ran that cost the largest energy trader $ 35 million .
enron named jeff mcmahon , head of its industrial markets group , as cfo because " it became clear to me that restoring investor confidence would require us to replace andy , " chairman and chief executive kenneth lay said .
fastow will take a leave of absence .
shares of enron , based in houston , have plunged 80 % this year . third - quarter charges of $ 1 . 01 billion from failed investments outside the main commodities trading business wiped out 70 % of the profit earned in the last four quarters .
" investors were clearly not comfortable with exposure to andy , " said j . p . morgan analyst anatol feygin , who downgraded enron to " long - term buy " and owns no shares .
fastow , 39 , ran ljm cayman and ljm 2 co - investment , two partnerships created by enron to buy company assets . enron ' s involvement in the financing vehicles cost the company $ 35 million in third - quarter losses .
enron also bought back 62 million shares from ljm 2 at a cost of $ 1 . 2 billion to unwind its investment .
during a conference call tuesday , lay said , " i and enron ' s board of directors continue to have the highest faith and confidence in andy and think he ' s doing an outstanding job as cfo . "
enron announced that fastow would leave after its stock closed down $ 3 . 38 , or 17 % , to $ 16 . 41 in trading wednesday on the new york stock exchange , setting a new 52 - week low .
the sec began an inquiry into enron ' s partnerships monday . spokeswoman karen denne said it is an informal inquiry that enron is cooperating with , and that no subpoenas have been received .
the company has formed at least 18 affiliated partnerships and corporations , some of which buy and sell enron assets such as power plants , records at the texas secretary of state ' s office indicate .
copyright ? 2000 dow jones a press release says fastow is taking a leave of absence . he ' s been replaced by jeffrey mcmahon , formerly ceo of enron ' s industrial markets group .
how might the enron bulls spin this ? likely , they will point to mcmahon ' s alleged opposition to fastow ' s role in the big hedging deal , called ljm 2 , to show that the " fastow era " is over . the wall street journal , citing anonymous sources , reported tuesday that as treasurer at enron mcmahon complained about fastow ' s possible conflict of interest . probably , the fear was that fastow couldn ' t serve enron and ljm 2 equally , especially as he was allegedly making a lot of money from ljm 2 .
clearly , if mcmahon turns out to be a new broom , that ' s a positive for enron . an enron spokeswoman declined to comment on whether the journal ' s account of mcmahon ' s stance on ljm 2 was correct .
not much else is encouraging , however . fastow ' s departure shows that it took massive drops in enron stock to force senior management into action . on a difficult conference call tuesday , ceo ken lay gave fastow resounding backing . it took wednesday ' s plunge to get lay to sign off on a new cfo . in other words , lay listens only when the market screams and hollers . how much further does the stock have to fall to bring further much - needed reforms at the company ?
the spokeswoman responds that lay had discussions with analysts tuesday and wednesday that led him to the conclusion that fastow ' s replacement was necessary to rebuild investor confidence .
enron culture is thick with financial sorcery . people got upset by one shadowy deal , but no one knows exactly how the company ' s core energy trading business makes money . it ' s hard to believe the ljm 2 deals were done in isolation and without the knowledge of the board .
in fact , the chatter is that fastow and former ceo jeff skilling proposed the ljm 2 transactions to the board after it was reluctant to enter the broadband business . the board apparently feared the volatility that might come from being in broadband , so fastow allegedly proposed ljm 2 as a way to hedge that volatility away . this meant ljm 2 entered agreements that gave it access to increases in the value of broadband assets but protected enron from the downside . should the whole board be on the hook , too ? the spokeswoman responds that the board would not have entered the ljm 2 transaction if it had not thought it would benefit enron and its shareholders .
lay has shown himself to be woefully out of touch with the market ' s views . arguably , that ' s downright reckless for a trading company that is dependent on potentially skittish short - term financing . letting things get this bad has risked good faith among enron counterparties and bankers . it shows an unhealthy reluctance to address key problems until they ' re unavoidable . the spokeswoman responds that the company is now working hard to improve transparency .
any efforts in that direction will be much appreciated , but is it any wonder people compare this lot to long term capital management ?
phew ! enron stinks
by james j . cramer
realmoney . com
10 / 25 / 2001 07 : 04 am edt
url :
did enron ( ene : nyse - news - commentary ) cause the energy crisis ? did it create a short squeeze in energy by buying up all available power and hoarding it , perhaps in a series of partnerships that it controlled ? did we wipe out billions in equity of utilities in some sort of bizarre zero - sum game in which enron won it all and shareholders from california utilities lost ?
and was enron at the hub of a vast power conspiracy to screw the u . s . consumer ?
somehow , i believe that if it weren ' t for the events of sept . 11 and its aftermath , these questions would be asked right now by a justice department antitrust division or a congressional investigation . to me , this one smells worse than anything that microsoft might have done at one time .
and we need to give some of these departed enron execs immunity to get to the bottom of what may have been the greatest antitrust act in history .
we ought to do it fast , too , while there is some enron left to pay the treble damages that violators owe .
what surprises me is that some enterprising young prosecutor doesn ' t want to make his name blowing this one wide open .
this nation must stop at nothing to get the terrorists . but it can ' t abandon the white - collar folks , either .
there was just too much money lost too fast for what , in an era where energy seems pretty plentiful , couldn ' t possibly , in retrospect , be considered a real shortage .
random musings : see you on cnbc ' s " squawk , " where i will , if given the chance , talk about viacom ( viab : nyse - news - commentary ) , chevrontexaco ( cvx : nyse - news - commentary ) , united technologies ( utx : nyse - news - commentary ) and wells fargo ( wfc : nyse - news - commentary ) , all of which have some nice cyclicality to them , which is what is called for at this very moment . ? ? ? small - stock focus : russell 2000 ekes out increase ; adtran , arris group post gains ? by karen talley ? dow jones newswires ? ? 10 / 25 / 2001 ? the wall street journal ? c 6 ? ( copyright ( c ) 2001 , dow jones & company , inc . ) ? ? new york - - it was a day for small - cap stocks to hug the baseline - - barely moving - - before ending the day with a slight gain as a number of positive profit reports pitched them onto positive ground . ? the russell 2000 index of small - capitalization stocks rose 0 . 28 point , or 0 . 07 % , to 427 . 65 , while the nasdaq composite index added 27 . 10 , or 1 . 59 % , to 1731 . 54 . ? given small caps ' modest advance , their finishing the day higher hardly was guaranteed . for a while , in fact , they trailed larger - cap technology issues and blue chips , although there were moments when these stocks , too , slipped into negative territory . ? the day offered little anthrax news but lots of earnings reports , and investors voted according to whether their companies had done well or not . ? generally for small caps , " it ' s ` where do we go from here ' time , " said andrew rich , small - cap portfolio manager with driehaus capital management . a lot of small caps have recouped the ground they lost the first week the market reopened after the terrorist attacks , but there are few compelling reasons to be an aggressive buyer , mr . rich said . " now , it seems the whole market is looking for direction . " ? on the nasdaq , volume was 1 . 865 billion shares , with 1 . 321 billion advancing and 516 million declining . gainers outpaced decliners by 1 , 902 to 1 , 628 . ? it was tech all the way among the day ' s top performers . ? communications technology , including a lot of fiber - optic and networking firms , ranked highest . among small caps , adtran rose 97 cents , or 4 . 2 % , to 23 . 97 , arris group jumped 75 cents , or 19 % , to 4 . 60 and extreme networks added 93 cents , or 7 . 6 % , to 13 . 17 . ? semiconductors were the session ' s second - best presenters with , among small caps , elantec semiconductor adding 3 . 71 , or 12 % , to 34 . 15 , and oak technology rising 86 cents , or 11 % , to 8 . 80 . ? wireless - communications stocks were also strong , with help from large - cap nextel communications , which advanced 1 . 29 , or 17 % , to 8 . 69 after posting a third - quarter loss that surpassed wall street estimates amid continued firmness in subscriber growth . in some possible spillover among small caps , airgate pcs rose 3 . 28 , or 6 . 1 % , to 56 . 78 . ? the day ' s poorest performers were natural - gas utilities , which continued to be dragged down by large cap enron , which fell 3 . 38 , or 17 % , to 16 . 41 . piedmont natural gas fell 34 cents , or 1 . 1 % , to 30 . 63 , and peoples energy shed 56 cents , or 1 . 4 % , to 39 . 06 . ? pegasystems jumped 1 . 21 , or 43 % , to 4 . 01 after a 12 % rise tuesday . the cambridge , mass . , developer of customer - management software enjoyed an even stronger second day yesterday , following tuesday ' s release of better - than - expected third - quarter earnings of 12 cents a share , beating an analyst ' s estimate by 10 cents a share . ? pinnacle systems rose 83 cents , or 25 % , to 4 . 20 . the mountain view , calif . , video - production - system maker had a fiscal first - quarter loss of 11 cents a share before items , beating wall street expectations by eight cents a share . thomas weisel upgraded shares to ` buy ' from ` market perform . ' ? sybase jumped 1 . 99 , or 17 % , to 13 . 50 . the emeryville , calif . , online - software developer reported 20 cents a share in earnings before items , beating wall street ' s expectations by two cents a share . ? in a follow - on offering , ameripath gained 2 . 24 , or 8 . 4 % , to 29 . 04 after offering 4 . 125 million shares at $ 26 each . the follow - on , as is the custom , was priced at a discount to tuesday ' s close of 26 . 80 . ? merger activity had a positive effect on small caps . pri automation jumped 3 . 38 , or 27 % , to 15 . 92 . the billerica , mass . , semiconductor - equipment maker signed a definitive agreement to be bought by brooks automation for about $ 380 million in stock . under the accord , which was approved by both companies ' boards , pri shareholders will receive 0 . 52 brooks share for each pri share held . brooks automation fell 1 . 31 , 3 . 9 % , to 31 . 80 . ? vysis surged 7 . 26 , or 31 % , to 30 . 26 . the downers grove , ill . , genetic - disease researcher agreed to be acquired by abbott laboratories for $ 30 . 50 a share , or $ 355 million . abbott rose 38 cents to 54 . 24 . ? oni systems dropped 1 . 01 , or 15 % , to 5 . 62 . the san jose , calif . , maker of fiber - optic communication equipment met analysts ' third - quarter consensus estimate of 19 cents a share , excluding items , but said its fourth - quarter loss will range between 16 cents and 20 cents a share , on revenue of $ 40 million to $ 50 million , when analysts were expecting a loss of 16 cents a share , excluding items , on revenue of $ 50 . 1 million . credit suisse first boston cut shares to " buy " from " strong buy , " and fac equities reduced the stock to " neutral " from " buy . " ? ? copyright ? 2000 dow jones directors to get the bond treatment : members of boards to be graded by shareholder activists ( all but toronto edition headline . ) ? kevin drawbaugh ? reuters ? ? 10 / 25 / 2001 ? national post ? national ? fpl 2 ? ( c ) national post 2001 . all rights reserved . ? ? washington - directors of corporations will be graded according to their performance by a service expected to be launched soon by business research group the corporate library , the group ' s co - founder said yesterday . ? in a move that could cause some sweaty palms in boardrooms across the country , long - time shareholder activist nell minow said directors will be awarded grades of a , b , c and lower , based on meeting attendance and other benchmarks . ? " it ' s always been my dream to rate individual directors like bonds . directors have not had the scrutiny they deserve , " said ms . minow , who said the service will be called board analyst . ? planned as an added feature on an existing web site , . com , board analyst is still in testing stages but is expected to launch next year , she said . ? only directors of u . s . companies will initially be evaluated . non - u . s . directors may be added later . ? ms . minow and partner robert monks have written several books on corporate governance and shareholder rights . they formerly managed the washington - based shareholder activist lens fund , which they sold last year to british fund management group hermes . ? their latest venture may find a receptive audience on the institutional buy - side , said industry spokespersons . ? " there ' s been growing interest within our membership in board membership , in general , and individual directors , in particular . i definitely think there would be interest in more information on individual directors , " said ann yerger , spokeswoman for the council of institutional investors , which represents america ' s large pension funds . ? the corporate governance movement , since its beginnings in the 1970 s , has focused on making directors more accountable and responsible . many companies have responded by requiring more outside directors and more meaningful stock ownership among directors . but examples of lax board oversight still abound . ? one example would be enron corp . , whose stock has plunged in recent days since the company said the securities and exchange commission was investigating transactions involving certain outside partnerships and the company ' s chief financial officer , ms . minow said . ? " where was the enron board in all of this ? " she asked . " boards and outside consultants are supposed to vet ideas for partnerships like these . that apparently didn ' t happen here . " ? taking the corporate governance argument a step further , ms . minow argued that effective board membership is more than a theoretical question . it should be an issue for investors to evaluate when they consider buying stock in a company . ? " this isn ' t just a corporate governance thing . this is part of investment analysis , " she said . ? institutional investors routinely examine corporate management when analyzing stocks . whether they will begin to examine directors , as well , remained an open question . ? " nell and bob monks have been shareholder activists for a long time and have moved corporate governance in a positive direction , " said peter gleason , vice - president of research and development at the national association of corporate directors , which represents more than 3 , 000 corporate directors . ? surveys by the association recently showed that corporate directors rank self - evaluation high on their list of concerns . " more and more directors are saying this is something we should be doing , " mr . gleason said . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? ? uk : u . s . stocks drift in europe as wary tone persists . ? ? 10 / 25 / 2001 ? reuters english news service ? ( c ) reuters limited 2001 . ? ? london , oct 25 ( reuters ) - u . s . stocks trading in europe drifted sideways as investors awaited the u . s . reaction to an economic stimulus package announced on wednesday , coupled with an uncertain mood in europe before an interest rate decision . ? u . s . technology stocks hovered around their new york closing prices . computer giant ibm traded on the instinet electronic brokerage at $ 108 . 85 , marginally up from its official close of $ 108 . 57 , while dealers said network giant cisco systems was quoted near to its close of $ 17 . 23 . ? energy company enron corp . found some support in europe after tumbling after the bell on wall street , as the company said it replaced its chief financial officer , who had been linked to transactions being looked at by the u . s . securities and exchange commission . ? dealers said enron was bid in europe at around wednesday ' s regular close of $ 16 . 41 , even though it fell to $ 16 . 14 on instinet late on wednesday . " at least they ( enron ) seem to have addressed the issue , " one dealer in u . s . shares said . ? u . s . futures were mixed , as european bourses drifted prior to a decision on euro - zone interest rates at 1145 gmt . by 1034 gmt the s & p 500 december futures contract was down 1 . 5 points at 1 , 083 . 5 . ? one dealer said investors appeared to be holding back before assessing the impact of an economic stimulus package approved by congress late on wednesday . ? the u . s . house of representatives narrowly passed a package designed to inject $ 100 billion into the economy over the next year through business tax breaks and other aid . ? several companies reported results after new york ' s close on wednesday , but there was limited interest and values remained near to their after - hours prices . ? chiron inc . surged to $ 48 . 37 from its close of $ 47 after the biotechnology firm posted higher earnings as product sales jumped 49 percent . ? comverse technology inc . , a software and systems provider , slumped to $ 16 . 60 in after - hours trading , from its close of $ 17 . 58 , after warning its earnings would fall . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? world stock markets - wall st favours us tech stocks over blue chips americas . ? by mary chung . ? ? 10 / 25 / 2001 ? financial times ( u . k . edition ) ? ( c ) 2001 financial times limited . all rights reserved ? ? us technology stocks held on to small gains in morning trade but disappointing earnings results from eastman kodak and at & t sent blue chips lower . ? by midsession , the dow jones industrial average was down 19 . 79 at 9 , 320 . 29 while the s & p 500 index shed 1 . 08 to 1 , 083 . 70 . the nasdaq composite rose 18 . 58 at 1 , 723 . 02 . ? dow components were dragged down by eastman kodak after the photographic film maker warned fourth - quarter profits would fall short of wall street expectations . shares tumbled 12 per cent at $ 13 . 10 . ? at & t added to the gloom after it reported a steep drop in profits because of the economic downturn , which has hit all areas of at & t ' s operations . the stock dropped 6 per cent to $ 16 . 65 . ? dupont fell 1 per cent at $ 41 . 60 . the chemical leader said it faced the most challenging business environment in decades as it reported a sharp fall in third - quarter earnings . ? energy stocks were the worst performing sector , with shares in enron down 18 . 4 per cent at $ 16 . 15 . the energy trading company is under scrutiny by the securities and exchange commission and analysts about its accounting practices . ? el paso dropped 5 per cent , exxonmobil 2 per cent and phillips petroleum 1 per cent after reporting weak earnings results . ? technology stocks , however , gained with nextel up 9 . 7 per cent at $ 8 . 12 after the wireless company reported quarterly earnings that topped market expectations . ? leading technology stocks rose , with cisco systems up 2 . 5 per cent , intel 2 per cent and microsoft 1 . 6 per cent . ? amazon , however , tumbled 20 per cent at $ 7 . 66 after several analysts cut estimates for the online retailer . ? compaq computer slipped 0 . 7 per cent at $ 9 . 33 after it reported a third - quarter net loss that was in line with expectations but reduced its fourth - quarter guidance due to continued weakness in corporate it spending . ? sears roebuck edged up 0 . 7 per cent at $ 38 . 07 after the largest us department store chain said it would cut 4 , 900 jobs to increase profit by more than $ 1 bn by 2004 . ? amr , the parent of american airlines , dropped 1 per cent to $ 19 . 76 after it reported the largest quarterly loss in its history . ? toronto moved lower in early trading as a profits warning from top insurer canada life cast a cloud over financial stocks . ? canada life fell c $ 1 . 59 to c $ 40 . 11 after it warned that weak securities markets will cut into third quarter results . bank stocks fell in sympathy with royal bank off 93 cents at c $ 44 . 82 and bank of montreal 52 cents at c $ 34 . 95 . ? the s & p 300 composite index was 0 . 8 per cent lower at 6 , 849 . 80 at midsession . ? ( c ) copyright financial times ltd . all rights reserved . ? http : / / www . ft . com . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? enron replaces cfo andy fastow ? announcement comes on heels of vote of confidence ? cbsmarketwatch . com ? lisa sanders ? 10 / 24 / 01 ? new york ( cbs . mw ) - one day after issuing a public vote of confidence in his chief financial officer , enron chief executive ken lay ousted him wednesday in the latest in a two - week series of events that have caused enron shares to more than halve . ? enron named jeff mcmahon its new chief financial officer wednesday , replacing andy fastow . the move follows tuesday ' s conference call , which was an attempt by enron to restore investor confidence in the company . ? " andy fastow was a very well - regarded , low profile individual at enron , and he ' s been unfairly pilloried in the press , " said john olson , an analyst at sanders morris harris in houston . " but the weight of circumstantial evidence and the material stock price decline made this inevitable . " ? olson predicted the cfo swap would improve enron ' s credibility with wall street . ? a rough week ? enron has been under fire since last week as questions have surfaced about its accounting practices , especially in regard to two limited partnerships created by fastow in 1999 and since dissolved . ? enron said fastow had taken a leave of absence and that mcmahon , most recently chairman and ceo of the industrial markets group and treasurer from 1998 to 2000 , would take over . ? " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " said lay , in a statement . ? karen denne , a spokesperson for enron , said numerous discussions tuesday and wednesday led to the decision . she said she did not know when fastow would return . ? shares of enron fell more than 17 percent wednesday to $ 16 . 41 , then fell further in late trading following the announcement , to as low as $ 16 . 18 . at one point during the trading day , the shares were trading at a six - year low of $ 15 . 51 . ? analysts deliver blows ? olson called tuesday ' s conference call a " missed opportunity , " saying enron had a real opportunity to show the investing public that it had become more " forthright and open . " ? " unfortunately enron is overloaded with lawyers , " said olson , who has not recommended the stock until recently . " this company has been very much abused and maligned by people on wall street . they have some excellent businesses , and they have been carrying some losers . " enron has " an excellent growth profile and tremendous profitability in their growth businesses , and excellent surplus cash flow , " olson said . ? enron expects to generate $ 3 billion of cash flow this year , and with $ 500 million devoted to dividends and $ 1 billion to maintenance capital spending , the company will have $ 1 . 5 billion free . ? several wall street firms cut their ratings on enron shares wednesday , including prudential securities . the firm advised clients to sell the stock , a rare recommendation . prudential had rated the company ' s shares a " hold . " ? " after much consideration , we are lowering our rating . . . not because of things we know but because of things we potentially don ' t know about the company , " wrote prudential analyst carol coale in a note . ? on monday , enron announced that related - party transactions within the limited partnerships are under review by the securities and exchange commission . several shareholder lawsuits have subsequently been filed . ? " management used the sec inquiry as a shield to avoid elaboration on the issue at hand , the ljm transactions , " coale said in reference to the conference call . ? olson said it ' s unlikely that enron , with its coterie of lawyers , would allow the creation of illegal investment vehicles , but as to whether it was " right , " he conceded it was probably not . ? j . p . morgan ' s anatol feygin downgraded his rating to " long - term buy " from " buy , " saying an upgrade is precluded until the company provides more information about its liabilities . ? " management ' s conference call yesterday was a missed opportunity to disclose the necessary information to assuage investor concerns , " feygin wrote . ? merrill lynch analyst donato eassey noted wednesday that if enron isn ' t able to maintain its investment - grade ratings - - the company ' s debt is on watch for a potential downgrade by moody ' s investors service - - issuing new equity would be one course of action , though with the potential to reduce earnings - per - share . enron on tuesday held with its forecast of $ 1 . 80 a share for 2001 . ? " new equity would potentially dilute our eps estimates 5 to 10 percent , " eassey wrote in a follow - up to the conference call . ? but eassey believes that cash flow from operations - - expected to exceed $ 3 billion in 2002 - - along with asset sales , should be enough to " insulate " the company ' s credit ratings . ? lisa sanders is a dallas - based reporter for cbs . marketwatch . com . ? ? ? usa : update 1 - beleaguered enron names new cfo . ? by jeff franks ? ? 10 / 24 / 2001 ? reuters english news service ? ( c ) reuters limited 2001 . ? ? houston , oct 24 ( reuters ) - enron corp . , trying to halt a freefall in its stock price and a firestorm of criticism from wall street , named a new chief financial officer on wednesday to replace andrew fastow , who has been linked to transactions now under investigation by government regulators . ? the company , which is the nation ' s largest energy trader , said fastow would take a leave of absence and be replaced by jeff mcmahon , who has been running an enron unit and is the company ' s former treasurer , in a bid to restore credibility with investors . ? fastow ' s departure follows the august resignation of chief executive jeff skilling , who said he wanted a change in lifestyle after just six months on the job . ? wednesday ' s change came after enron ' s stock fell $ 3 . 38 to $ 16 . 41 , its lowest point in six years , to cap off a $ 13 billion plunge in market value since the company announced a third quarter loss last week and wrote down shareholder equity by $ 1 . 2 billion in a move related to the questionable transactions . ? wall street ' s anxieties about enron spread to the stocks of other natural gas and power traders and marketers on wednesday , with dynegy inc . falling 12 . 8 percent to $ 37 . 26 and aquila inc . off 11 . 7 percent at $ 21 . 20 . ? investors have fled enron ' s stock in droves following disclosures that the company did off - the - balance sheet transactions with two limited partnerships run by fastow in deals the u . s . securities and exchange commission is now looking into for possible conflict of interest . ? wall street analysts who once touted the company have bitterly accused it of not being forthcoming about the matter , a problem enron chief executive ken lay cited in his appointment of mcmahon . ? " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " he said in a statement . ? mcmahon , who was treasurer from 1998 to 2000 before becoming chief executive officer of enron ' s industrial markets group , has a " deep and thorough understanding of enron " and the confidence of the investment world , lay said . ? the wall street journal reported that it was mcmahon who first spoke up about the perception of impropriety in the limited partnership arrangements made by fastow . the paper this week said skilling saw no problem with it , which led mcmahon , 40 , to ask for a job change . ? fastow has denied any wrongdoing , but has been limited in his ability to speak about the issues because of the sec investigation and shareholder lawsuits now pending against the company . ? as recently as a year ago , enron had a stellar image as a corporate innovator with a midas touch . its profits and stock price soared as it transformed from a natural gas pipeline company to a high - tech money machine creating new internet - based trading markets in a wide range of commodities . ? but some of its new businesses faded , a large investment in an indian power plant went sour , the california power crises spooked investors , and then skilling stunned the financial community with his sudden resignation . ? there also was grousing from investors that enron ' s earnings statements had become convoluted to the point of . ? analysts said the replacement of fastow was a step in the right direction for enron , but not a panacea for its credibility problems . ? " the problems investors are having with enron are related to a lack of understanding of all these partnership arrangements . changing the cfo by itself doesn ' t really address those concerns , " said mike heim at a . g . edwards . ? " i don ' t think anyone has a full understanding of the extent of the liabilities enron might have with these partnerships , " he said . " i still have a lot of questions . " ? andre meade at commerzbank securities said fastow ' s departure was not unexpected , but not that helpful . ? " investors are not going to see this as a huge move that clears up the picture , " he said . " frankly , ken lay and the board don ' t have clean hands when it comes to these transactions . " ? " the fear driving the market is : if this is what we know , how much worse can it get ? " said j . p . morgan analyst anatol feygin . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? usa : utility stocks drop on slipping expectations . ? by jim brumm ? ? 10 / 24 / 2001 ? reuters english news service ? ( c ) reuters limited 2001 . ? ? new york , oct 24 ( reuters ) - slipping expectations of 2002 power profits combined with enron corp . ' s growing problems helped drag utility stock prices to their lowest levels this month on wednesday . ? while the general market closed higher , the s & p utilities index ended the day with a loss of 8 . 99 , or 3 . 55 percent , to 244 . 32 . ? the big loser , as it has been in many recent sessions , was enron , which traded at the lowest price since february 1995 before steadying a bit to close at $ 16 . 41 - down 17 . 08 percent , or $ 3 . 38 , for the day and 44 percent from its price two weeks ago - as analysts recommended selling the stock . ? prudential ' s carol coale said the sell recommendation was not made " because of things that we know , but because of things we potentially do not know . ? after the close enron said it named former treasurer jeff mcmahon to replace andrew fastow as chief financial officer , and quoted chief executive officer kenneth lay as saying " it became clear to me that restoring investor confidence would require us to replace andy as cfo . " ? close behind enron on the biggest loser lists wednesday were companies that had patterned themselves after the power trading giant . closest was dynegy inc . which closed with a loss of $ 5 . 45 , or 12 . 76 percent , at $ 37 . 26 - its lowest price in three weeks . ? power earnings forecasts trimmed ? the talk of lower estimates of 2002 earnings from power production and trading came from four companies active in the u . s . northeast and midwest - american electric power co . inc . , exelon corp . , public service enterprise group inc . and ppl corp . . ? early wednesday , ppl said it now sees little , if any , change in earnings per share next year from this year , citing expectations of lower profits on power sales in maine , pennsylvania and montana . the company also confirmed it still sees 2001 earnings exceeding $ 4 . 00 per share . ? noting ppl ' s previous 2002 guidance was $ 4 . 55 to $ 4 . 65 per share , wachovia securities analyst thomas hamlin lowered the stock ' s rating to " market perform " from " strong buy " explaining ppl ' s " failure to differentiate itself from the power producing price takers has hurt management ' s credibility . ? " the company will need to prove its risk management capabilities in order to be afforded a multiple in line with our higher rated merchant power stocks , " he concluded . ? deutsche banc alex . brown and lehman brothers made similar downgrades in exelon after its first 2002 guidance trailed analyst expectations . ? stock losses follow outlook changes ? " the primary driver ( for the 2002 estimate ) is lower wholesale commodity price assumptions at ( the company ' s generation unit ) , in addition to weaker distribution demand " at exelon ' s utility subsidiaries in philadelphia and chicago , deutsche banc alex . brown analyst james dobson wrote tuesday . ? exelon officials noted , in answer to analyst questions , that the view of 2002 demand had changed to negative from flat since the sept . 11 attack on the world trade center . ? the company ' s stock , which opened 10 percent lower - at $ 40 - following the earnings release early tuesday steadied to close at $ 41 . 80 . the shares continued to advance wednesday when its 12 - cent rise made it one of four gainers among the 40 s & p utility index components . ? the big loser among the integrated utilities - those which produce and distribute power - was ppl , which ended the day at $ 32 - down $ 1 . 68 , or 4 . 99 percent . ? losses of about 1 . 3 percent were posted by aep , which closed at $ 42 . 59 , down 55 cents for the day , and pseg , which slipped 52 cents to $ 39 . 48 . ? aep " management cautioned that the slowing economy may make the upper end ( of its 2002 earnings guidance of $ 3 . 80 to $ 3 . 90 ) more difficult to achieve , " lehman brothers analyst daniel ford wrote in a note that maintained his estimate . ? he lowered his estimate of pseg 2002 earnings per share 5 cents to $ 4 . 05 while awaiting the closing of a peruvian purchase and pointed out it receives more for electricity than most pjm power producers because of restraints on the delivery of midwest electricity to new jersey ' s power hungry markets . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? berger & montague alleges enron misled investors about overvalued assets and off - balance sheet deals ? ? 10 / 24 / 2001 ? pr newswire ? ( copyright ( c ) 2001 , pr newswire ) ? ? philadelphia , oct . 24 / prnewswire / - - the law firm of berger & montague , p . c . , ( http : / / www . bergermontague . com ) filed a class action suit on behalf of an investor against enron corp . ( " enron " or the " company " ) ( nyse : ene ) and its principal officers and directors in the united states district court for the southern district of texas on behalf of all persons or entities who purchased enron securities during the period from march 30 , 2000 through and including october 18 , 2001 , inclusive ( the " class period " ) . ? the complaint alleges that enron and its principal officers and directors violated section 10 ( b ) and 20 ( a ) of the securities exchange act of l 934 and sec rule 10 b - 5 . the complaint alleges that defendants misled investors ( 1 ) by reporting assets that were overvalued by more than $ 1 billion , which caused writedowns in that amount and are expected to lead to further writeoffs of hundreds of millions of dollars , ( 2 ) by concealing facts regarding relationships with a related entity that led to a more than $ 1 billion reduction of shareholders ' equity and a $ 35 million charge , and ( 3 ) by obfuscating or failing to disclose the fact that agreements with other related entities satisfaction of which include obligations that may require the company to issue large amounts of its shares . this misconduct caused the market prices of enron stock to be artificially inflated during the class period . when facts about these matters were disclosed at the end of the class period , the market price of the company ' s per share stock fell from a high of $ 90 per share during the class period to a low of $ 15 per share , and securities analysts downgraded their ratings of the company ' s stock despite the precurietous fall in its market price . also , enron ' s senior debt was placed on notice by moody ' s for possible downgrade . ? also , an sec inquiry into the company ' s transactions with related entities has been announced , and the company revealed that its chief financial officer , who is one of the defendants , has taken a " leave of absence " from the company , and has been replaced . ? if you purchased enron securities during the period from march 30 , 2000 through october 18 , 2001 , inclusive , you may , no later than december 21 , 2001 move to be appointed as a lead plaintiff . a lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation . the private securities litigation reform act of 1995 directs courts to assume that the class member ( s ) with the " largest financial interest " in the outcome of the case will best serve the class in this capacity . courts have discretion in determining which class members ( s ) have the " largest financial interest , " and have appointed lead plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth . if you have sustained substantial losses in enron securities during the class period , please contact berger & montague , p . c . at investorprotect @ bm . net for a more thorough explanation of the lead plaintiff selection process . ? the law firm of berger & montague , p . c . has over 50 attorneys , all of whom represent plaintiffs in complex litigation . the berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries of several billion dollars to investors . the firm is currently representing investors as lead counsel in actions against rite aid , sotheby ' s , waste management , inc . , sunbeam , boston chicken and ikon office solutions , inc . the standing of berger & montague , p . c . in successfully conducting major securities and antitrust litigation has been recognized by numerous courts . for example : " class counsel did a remarkable job in representing the class ? interests . " in re : ikon offices solutions securities litigation . ? civil action no . 98 - 4286 ( e . d . pa . ) ( partial settlement for ? $ 111 million approved may , 2000 ) . ? " . . . [ y ] ou have acted the way lawyers at their best ought to act . ? and i have had a lot of cases . . . in 15 years now as a judge and i ? cannot recall a significant case where i felt people were better ? represented than they are here . . . i would say this has been the ? best representation that i have seen . " in re : waste management , ? inc . securities litigation , civil action no . 97 - c 7709 ( n . d . ill . ) ? ( settled in 1999 for $ 220 million ) . ? ? if you purchased enron securities during the class period , or have any questions concerning this notice or your rights with respect to this matter , please contact : sherrie r . savett , esquire ? carole a . broderick , esquire ? arthur stock , esquire ? kimberly a . walker , investor relations manager ? berger & montague , p . c . ? 1622 locust street ? philadelphia , pa 19103 ? phone : 888 - 891 - 2289 or 215 - 875 - 3000 ? fax : 215 - 875 - 5715 ? website : http : / / www . bergermontague . com ? e - mail : investorprotect @ bm . net ? make your opinion count - click here ? http : / / tbutton . prnewswire . com / prn / 11690 x 46856181 ? ? ? / contact : sherrie r . savett , esquire , carole a . broderick , esquire , arthur stock , esquire , or kimberly a . walker , investor relations manager , all of berger & montague , p . c . , + 1 - 888 - 891 - 2289 , + 1 - 215 - 875 - 3000 , fax , + 1 - 215 - 875 - 5715 or investorprotect @ bm . net / 18 : 38 edt ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? enron officers profited from inside knowledge , lawsuit alleges ? 2001 - 10 - 24 19 : 58 ( new york ) ? ? enron officers profited from inside knowledge , lawsuit alleges ? ? houston , oct . 24 ( bloomberg ) - - enron corp . executives ? profited from inside knowledge when they sold $ 73 million in ? shares ahead of a 26 percent drop in the energy trading company ' s ? stock in february and march , a shareholder alleges in a lawsuit . ? ? the allegations of insider trading were filed today as an ? amendment to an earlier lawsuit filed by shareholder fred ? greenberg . ? ? the original lawsuit , filed on oct . 17 in houston , accuses ? enron ' s board of costing the company at least $ 35 million through ? dealings with two partnerships run by former chief financial ? officer andrew fastow . ? ? in the amendment filed today , the suit accuses fastow of ? using insider knowledge that enron ' s stock was going to drop to ? prevent losses at one of the partnerships , ljm 2 . ? ? the partnership was committed to buying enron stock at ? predetermined price in september 2000 , the complaint says . enron ? agreed to renegotiate the terms of the transaction to let ljm 2 buy ? the shares two months early . ? ? that let the partnership earn a $ 10 . 5 million in profit , the ? suit says . if the transaction had not been renegotiated , the ? partnership would have lost $ 8 for every share it sold in ? september , the suit alleges . ? ? ` bailed out ' ? ? ` ` mr . fastow and ljm 2 took advantage of inside information to ? reap illicit insider trading profits , in the millions of dollars ? in this transaction alone , ' ' the suit says . ? ? at the same time that the ljm 2 transaction was being ? renegotiated in december and january , chief executive officer ? kenneth lay , president mark frevert and other top managers sold ? the $ 73 million in shares , the suit alleges . ? ? enron executives ` ` bailed out of shares . . . reaping huge ? insider trading profits , ' ' the lawsuit says . ? ? other sellers included former ceo jeff skilling , chief ? strategy officer cliff baxter , broadband services ceo ken rice , ? chief of staff steve kean , pipeline group ceo stanley horton and ? chief risk officer richard buy , the suit says . ? ? enron spokeswoman karen denne declined to comment on the ? lawsuit . ? ? ` ` we haven ' t been served ( notice of the suit ) , and it ' s our ? policy not to talk about pending litigation , ' ' she said ? ? in march , spokesman mark palmer said the executives exercised ? stock options that would have expired worthless otherwise . ? ? enron has formed at least 18 affiliated companies to buy and ? sell company assets , according to records from the texas secretary ? of state . the houston - based company reported $ 1 . 01 billion in ? third - quarter losses , including $ 35 million from the ljm ? partnerships run by fastow . ? ? sec inquiry ? ? greenberg says directors shouldn ' t have allowed fastow to run ? partnerships that bought and sold company assets . ? ? shares of enron have fallen 52 percent in the past six days ? on investor concern about the liabilities attached to partnerships ? and affiliated companies formed by enron to remove debt from its ? books . the u . s . securities and exchange commission is looking into ? the partnerships . ? ? enron shares fell $ 3 . 38 to $ 16 . 41 . ? ? - - russell hubbard in the princeton newsroom , 609 - 750 - 4651 or ? rhubbard 2 @ bloomberg . net / slb / alp ? ? enron ousts fastow , names mcmahon cfo amid inquiry ( update 5 ) ? 2001 - 10 - 24 19 : 33 ( new york ) ? ? enron ousts fastow , names mcmahon cfo amid inquiry ( update 5 ) ? ? ( adds description of enron net works in sixth paragraph . ) ? ? houston , oct . 24 ( bloomberg ) - - enron corp . ousted chief ? financial officer andrew fastow amid a securities and exchange ? commission inquiry into partnerships he ran that cost the largest ? energy trader $ 35 million . ? ? enron named jeff mcmahon , head of its industrial markets ? group , as cfo because ` ` it became clear to me that restoring ? investor confidence would require us to replace andy , ' ' chairman ? and chief executive officer kenneth lay said in a statement . ? fastow will take a leave of absence . ? ? shares of enron , based in houston , have fallen 80 percent ? this year . third - quarter losses of $ 1 . 01 billion from failed ? investments outside the main commodities trading business wiped ? out 70 percent of the profit earned in the past four quarters . ? ? ` ` investors were clearly not comfortable with exposure to ? andy , ' ' said j . p . morgan analyst anatol feygin , who downgraded ? enron to ` ` long - term buy ' ' today and owns no shares . ? ? as enron treasurer , mcmahon complained to then - enron ? president jeffrey skilling about potential conflicts of interest ? posed by the fastow partnerships in 1999 , the wall street journal ? reported yesterday . rebuffed , mcmahon secured a reassignment , the ? journal said , citing people familiar with the matter . ? ? ` ` mcmahon was made famous under skilling by going to him and ? objecting to the partnerships , ' ' feygin said . ` ` for that , he was ? transferred out of the treasurer function into enron net works , ' ' ? which oversees enron ' s internet trading system . ? ? ` an outstanding job ' ? ? fastow , 39 years old , ran ljm cayman and ljm 2 co - investment , ? two partnerships created by enron to buy company assets . enron ' s ? involvement in the financing vehicles cost the company $ 35 million ? in third - quarter losses . enron also bought back 62 million shares ? from ljm 2 at a cost of $ 1 . 2 billion to unwind its investment . ? ? on a conference call yesterday , lay said that ` ` i and enron ' s ? board of directors continue to have the highest faith and ? confidence in andy and think he ' s doing an outstanding job as ? cfo . ' ' ? ? enron announced that fastow would leave after its stock ? closed down $ 3 . 38 , or 17 percent , to $ 16 . 41 in today ' s trading . ? ? the sec began an inquiry into enron ' s partnerships monday . ? spokeswoman karen denne said it is an informal inquiry that enron ? is cooperating with , and that no subpoenas have been received . ? ? the company has formed at least 18 affiliated partnerships ? and corporations , some of which buy and sell enron assets such as ? power plants , records at the texas secretary of state ' s office ? indicate . ? ? the texas records list dozens of enron executives as officers ? and directors of company - related partnerships . none of them have ? any financial interest in the partnerships after fastow severed ? ties to the ljm partnerships in july , palmer said . ? ? ` zero compensation ' ? ? ` ` the managers in these affiliates listed as managing members ? are representational in nature only , ' ' he said . ` ` they get zero ? compensation . ' ' ? ? the ljm partnerships were different . enron ' s board allowed ? fastow , who has worked for the company for 11 years , to run them ? and earn as much as 2 percent annually on the amounts invested , ? the wall street journal reported last week . a lawsuit filed by a ? shareholder objecting to the arrangement said the partnerships ? reworked an agreement with enron to avoid taking big losses . ? ? enron is obligated to repay $ 3 . 3 billion associated with two ? other partnerships , marlin and whitewing , if they can ' t raise ? enough money from asset sales to pay off the balance , enron ? spokesman mark palmer said . palmer said ` ` maybe , maybe not ' ' when ? asked if the partnerships will generate enough cash . ? ? ` ` the concern now isn ' t just with the ljm partnership , it ' s ? more with the other partnerships , such as osprey and marlin , ' ' ? said a . g . edwards analyst mike heim , who has a ` ` hold ' ' rating on ? enron and owns no shares . ? ? high level departures ? ? enron has lost several senior executives in the past two ? years . ceo skilling resigned in august after seven months on the ? job , citing personal reasons and frustration with declines in the ? company ' s stock price . enron corp . vice chairman joseph w . sutton ? left the company in november as the company switched its focus ? from developing assets to energy and commodity trading . ? ? rebecca mark , one of the highest - ranking women in u . s . ? business , quit august 2000 as chairman and chief executive of ? azurix corp . , a water company formed by enron corp . mark also ? resigned from enron ' s board . ? ? azurix was a money - losing investment . enron sold shares in ? the water company to the public that it later had to buy back . ? ? - - russell hubbard in the princeton newsroom at 609 - 750 - 4651 ? ?
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enron replaces fastow as finance chief - - - mcmahon takes over post ; move follows concerns over partnership deals
the wall street journal , 10 / 25 / 01
enron ousts finance chief as s . e . c . looks at dealings
the new york times , 10 / 25 / 01
pressured enron ousts cfo
the washington post , 10 / 25 / 01
enron replaces cfo to reassure investors
houston chronicle , 10 / 25 / 01
front page - first section - enron replaces finance chief .
financial times ( u . k . edition ) , 10 / 25 / 01
companies appoints mcmahon
afx news , 10 / 25 / 01
enron : embattled chief financial officer ousted
chicago tribune , 10 / 25 / 01
enron ousts cfo amid sec probe
los angeles times , 10 / 25 / 01
shell - shocked enron parts with cfo
thestreet . com , 10 / 25 / 01
phew ! enron stinks
realmoney . com , 10 / 25 / 01
small - stock focus : russell 2000 ekes out increase ; adtran , arris group post gains
the wall street journal , 10 / 25 / 01
u . s . directors to be graded by activist : the ' bond ' treatment ( toronto edition headline . ) ; directors to get the bond treatment : members of boards to be graded by shareholder activists ( all but toronto edition headline . )
national post , 10 / 25 / 01
uk : u . s . stocks drift in europe as wary tone persists .
reuters english news service , 10 / 25 / 01
world stock markets - wall st favours us tech stocks over blue chips americas .
financial times ( u . k . edition ) , 10 / 25 / 01
enron replaces cfo andy fastow
cbsmarketwatch , 10 / 25 / 01
usa : update 1 - beleaguered enron names new cfo .
reuters english news service , 10 / 24 / 01
usa : utility stocks drop on slipping expectations .
reuters english news service , 10 / 24 / 01
berger move follows concerns over partnership deals
by rebecca smith and john r . emshwiller
staff reporters of the wall street journal
10 / 25 / 2001
the wall street journal
a 3
( copyright ( c ) 2001 , dow jones & company , inc . )
enron corp . replaced its embattled chief financial officer , andrew s . fastow , capping a tumultuous day in which the huge energy company saw its stock price again fall sharply and help pull down the share prices of other major energy - trading companies .
investors appeared worried that enron ' s recent woes could have a destabilizing effect on the energy - trading market . the houston energy powerhouse , with annualized revenue topping $ 150 billion and assets of more than $ 60 billion , handles transactions representing roughly one - quarter of the nation ' s traded - electricity and natural - gas volumes . in less than two years of operation , its enrononline trading platform has become a central marketplace for the energy business and already has handled more than $ 880 billion in transactions .
" enron makes the market . make no mistake about that , " said merrill lynch analyst donato eassey . " there ' s not a trader out there that doesn ' t use enrononline . " as such , enron enters into thousands of transactions every day in which the company ' s credit - worthiness is critical . enron said its business operations were functioning normally yesterday . the company also has consistently said it is financially strong and liquid .
enron said its new chief financial officer is jeffrey mcmahon , the 40 - year - old head of the company ' s industrial - markets division . his selection may be intended , in part , to raise the company ' s credibility . people familiar with the matter say mr . mcmahon left his job as treasurer last year after voicing concerns within the company about mr . fastow ' s role in running two limited partnerships that were involved in billions of dollars worth of transactions with enron . internal partnership documents indicate mr . fastow and possibly a handful of associates made millions of dollars from the partnerships . mr . fastow severed his ties with those partnerships in july in the face of increasing conflict - of - interest concerns being expressed by wall street analysts and major enron investors . on monday , enron announced that the securities and exchange commission was looking into the fastow - related transactions .
while enron as recently as tuesday strongly defended mr . fastow , as well as the company ' s dealings with the partnerships , controversy over those arrangements clearly played a role in the executive ' s departure . " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " said chairman and chief executive kenneth lay in a prepared statement .
enron said mr . fastow " will be on a leave of absence from the company . " he couldn ' t be reached for comment .
it remains to be seen how much mr . fastow ' s removal will assuage an increasingly restive investment community . the action came after the 4 p . m . market close and followed a day in which enron ' s stock once again plunged . as of 4 p . m . in new york stock exchange composite trading , enron shares were at $ 16 . 41 , down $ 3 . 38 , or 17 % . it topped the big board ' s most active list at nearly 76 million shares , more than twice the volume of the second - most - active stock . several trades yesterday involved blocks of 800 , 000 shares or more , possibly indicating that some institutional holders are souring on enron stock .
enron ' s shares are down about 50 % from the beginning of last week . earlier this year , the stock was above $ 80 a share .
in an apparent ripple effect , the stocks of other energy - trading companies , which do business with enron , also fell sharply yesterday . for instance , dynegy inc . shares on the big board were off $ 5 . 45 , or 13 % , at $ 37 . 26 . a number of the energy companies hit by the selloff have business strategies much different than enron ' s , which rely heavily on complex and highly structured investment vehicles .
prudential securities analyst carol coale said mr . fastow ' s departure could be seen as evidence that " management does care " about investor concerns . however , she adds , the move also could be viewed by some investors , coming as it did two days after the announcement of the sec inquiry , as " an admission of guilt . " ms . coale yesterday issued a sell recommendation on enron largely because of uncertainties about the company ' s extremely complex financial structure .
enron has consistently denied any wrongdoing in its fastow - related dealings .
worries and rumors about enron ' s financial strength could be found in the stock market yesterday . goldman sachs analyst david fleischer said he heard people voice concerns about a possible " death spiral " in which increasing credit concerns about enron would decrease the number of people willing to do business with the company , which would in turn weaken its finances and lead to further business reductions . mr . fleischer , a longtime fan who still has a buy recommendation on the company , said he hasn ' t yet seen any evidence of such a problem .
however , mr . fleischer said , enron needs to disclose more information about its myriad of financial transactions with related partnerships and other entities . enron is facing a problem with " trust and credibility . it ' s not easy to regain something as basic as trust , " he said .
copyright ? 2000 dow jones section c
enron ousts finance chief as s . e . c . looks at dealings
by floyd norris
10 / 25 / 2001
the new york times
page 2 , column 5
c . 2001 new york times company
the enron corporation , its stock battered by a sudden loss of investor confidence , yesterday ousted its chief financial officer , andrew s . fastow , whose involvement in complicated transactions with enron has drawn the scrutiny of the securities and exchange commission .
' ' in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as c . f . o . , ' ' kenneth l . lay , enron ' s chairman and chief executive , said in a statement announcing the change . only one day before , mr . lay had told investors in a conference call that he and the enron board ' ' continue to have the highest faith and confidence in andy . ' '
the company said that mr . fastow had taken a leave of absence , but it also named his successor , jeffrey mcmahon , the head of enron ' s industrial markets group and a former corporate treasurer .
enron said none of the officials were available for interviews last night .
the move came after the close of trading on the new york stock exchange , where enron ' s shares fell $ 3 . 38 , to $ 16 . 41 . the price has been cut in half since oct . 16 , when enron reported its third - quarter earnings . a $ 1 . 2 billion reduction in shareholder equity brought on by ending some relationships with partnerships that mr . fastow had headed was not disclosed in the earnings news release . mr . lay briefly mentioned it in the conference call that followed , but some analysts thought he was referring to a separate $ 1 billion write - off that was disclosed in the earnings document , and were angered when they later learned about it .
on tuesday , when both mr . fastow and mr . lay discussed the company with analysts on the conference call , neither was willing to discuss details of the transactions between enron and the partnerships formerly controlled by mr . fastow . mr . lay cited the s . e . c . inquiry in declining to discuss the details of the transactions .
the fact the transactions took place has been known for a year , but enron ' s disclosures have been widely criticized for being impossible to understand .
by structuring the deals as involving forward commitments to deliver enron stock , it appears that enron was able to assure that losses on them would not lead to reported losses , but instead to reductions of shareholder equity that had no effect on the income statement . that is one of the issues the s . e . c . , whose inquiries were disclosed monday by the company , is expected to address .
concerns have also grown this week over whether enron will face losses from complicated financing strategies that kept billions of dollars of debts off its balance sheet but left the company responsible for paying - - either in cash or with stock - - if things went wrong . on tuesday , mr . fastow assured investors that the company ' ' expects to continue to have sufficient liquidity to meet normal obligations , ' ' and said it had bank credit lines that were more than adequate .
mr . fastow was viewed as one of the architects , with jeffrey k . skilling , the former enron chief executive who resigned in august , of the change in business strategy that turned enron from a gas - pipeline company into a an energy trading powerhouse that developed a large wall street following . its stock price peaked in the summer of 2000 at $ 90 . 75 .
according to a person close to the company , while mr . mcmahon , mr . fastow ' s successor , was enron ' s treasurer , he told mr . skilling , who at the time was the chief operating officer , that he thought the partnerships involving mr . fastow presented a conflict of interest . after that discussion , mr . mcmahon moved to a different job at the company , this person said .
shares of enron traded as low as $ 15 . 51 yesterday afternoon , the lowest price for the stock since early 1995 , before recovering . in after - hours trading , they fell to $ 16 . 14 .
one of the factors that hurt the stock yesterday was a decision by m . carol coale , an analyst at prudential securities , to drop her rating to ' ' sell ' ' from ' ' hold . ' ' she had lowered the rating to ' ' hold ' ' from ' ' buy ' ' on monday .
' ' after the s . e . c . inquiry was announced , ' ' she said in an interview yesterday evening , ' ' enron should have addressed it by delivering a scapegoat , as a gesture to the street . now they are replacing him today . the timing is a little late , but i think it will be received positively by the street . ' '
but she said that investor sentiment might work the other way . ' ' people could fear that if you remove fastow from the management team , you ' ll never get any answers . ' '
copyright ? 2000 dow jones & company , inc . all rights reserved .
financial
pressured enron ousts cfo
10 / 25 / 2001
the washington post
final
eo 2
copyright 2001 , the washington post co . all rights reserved
enron replaced andrew fastow as its chief financial officer , a day after chief executive kenneth lay stressed the company ' s confidence in fastow , who performed dual roles as the energy giant ' s cfo while managing partnerships with which enron did business . " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " lay said in a statement . the partnerships have been dissolved .
http : / / www . washingtonpost . com
copyright ? 2000 dow jones & company , inc . all rights reserved .
oct . 25 , 2001 , 12 : 06 am
houston chronicle
enron replaces cfo to reassure investors
by laura goldberg
copyright 2001 houston chronicle
in a bid to repair its badly damaged credibility on wall street , houston - based enron corp . removed its chief financial officer wednesday , as federal securities regulators review business dealings between enron and two investment partnerships that he ran .
enron , the world ' s largest energy trader , said chief financial officer andrew fastow had been put on a " leave of absence " for an undetermined period and named another enron executive , jeff mcmahon , as his replacement . the company said the move was not a reflection on fastow or a belief that he had done anything improper .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " enron chairman and ceo ken lay said in a statement after the stock market closed on a day investors continued dumping shares .
enron , which had seen its stock battered this year for a variety of reasons , found itself high on wall street ' s hit list after it released third - quarter earnings on oct 16 .
the earnings report drew renewed attention to something investors and analysts had already expressed displeasure at : fastow , with the approval of enron ' s board , had formed and run two investment partnerships - - ljm cayman and ljm 2 co - investment .
the partnerships , which did complex financing and hedging deals with enron , served as a source of funding for enron projects and investments .
but wall street questioned how fastow could watch out for the interests of enron ' s shareholders and the investment partnership at the same time .
so fastow , in june , resigned his roles at the partnerships and enron also ended its relationships with the ljm entities . during the third - quarter , enron took a $ 35 million loss related to ending its ljm ties as well as a $ 1 . 2 billion reduction in shareholder equity .
tuesday , lay told analysts and investors that procedures were rigorously followed to ensure the interests of enron and its shareholders were protected in dealings with the ljm partnerships . he said a " chinese wall " existed between enron and ljm .
fastow ' s replacement , mcmahon , previously served as enron ' s treasurer before moving last year to another job with enron . most recently , he headed up the company ' s industrial markets group . a source close to enron said mcmahon asked to be reassigned from the treasurer ' s job because he was uncomfortable with the fastow - ljm setup .
enron spokesman mark palmer said neither fastow nor mcmahon was available for comment wednesday . he also didn ' t know whether fastow is still receiving a salary .
enron disclosed on monday that federal securities regulators had begun an " informal inquiry " into the ljm dealings .
the news proved terrible for a company already working to rebuild investor confidence after a series of failed investments in telecommunications , water and retail power businesses and the surprise resignation of ceo jeff skilling in august for personal reasons .
a continuously growing number of shareholder lawsuits against enron followed the earnings report and the news of the sec inquiry .
wall street has stepped up its chronic complaints that enron ' s various financial dealings are too complex to follow and that the company fails to give analysts enough data to make proper evaluations .
beyond the ljm partnerships , investors are concerned about two other partnerships enron set up . among the worries is that enron will end up having to issue new shares of stock to cover commitments associated with those entities .
investors wouldn ' t like that because it would dilute the value of current outstanding shares . they are also afraid that enron ' s debt credit rating may be downgraded , which could have negative impacts on its overall business .
in the last six days , enron ' s shares have closed lower and lower . on oct . 16 , the stock closed at $ 33 . 84 . on wednesday it closed at $ 16 . 41 , down $ 3 . 38 .
wednesday , the hubbub surrounding enron also dragged down shares in other companies that engage in energy trading , including houston - based dynegy , which closed down $ 5 . 45 at $ 37 . 26 . there is concern enron ' s woes could in some way end up harming the energy trading markets .
a conference call lay and senior executives , including fastow , held with analysts tuesday to help clear up questions didn ' t go as enron hoped .
on wednesday , carol coale , an analyst with prudential securities in houston , moved from a " hold " to a " sell " rating .
front page - first section - enron replaces finance chief .
by julie earle and sheila mcnulty .
10 / 25 / 2001
financial times ( u . k . edition )
( c ) 2001 financial times limited . all rights reserved
front page - first section - enron replaces finance chief - energy company attempts to halt sharp decline in its share price .
enron , the us energy group , yesterday replaced its embattled chief financial officer , andrew fastow , to try to halt a slide in its share price , which has lost about 40 per cent of its value this week .
kenneth lay , enron ' s chief executive officer , said after the market closed that mr fastow was taking a leave of absence . the move came a day after mr lay defended mr fastow amid questions about his ties to controversial partnerships that had forced enron to take a $ 1 . 2 bn write - off .
that loss , revealed last week , sparked the share sell - off amid concerns there may be more bad news to come . enron disclosed the loss during an october 16 conference call with analysts on its third - quarter results , saying the charge stemmed from closing funding mechanisms that enron had set up in the partnerships established with mr fastow .
analysts say the charge has not been satisfactorily explained , leading to confusion among investors and an unofficial inquiry by the securities and exchange commission .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " mr lay said . he said jeff mcmahon , chairman and chief executive of enron ' s industrial markets group , would replace mr fastow . mr mcmahon earlier served as enron ' s treasurer .
analysts said it was unclear whether mr fastow ' s departure would be enough . carol coale , of prudential securities , said the move was positive in demonstrating that enron was being sensitive to wall street , which had called for mr fastow to be replaced . yet , she added , it came three days after those calls .
ms coale issued a " sell " recommendation on enron earlier yesterday , leading to a drop of almost 18 per cent in its share price . " we are concerned about what we don ' t know , " ms coale said . she was concerned that enron might have to sell assets below book value to maintain its credit rating , or be forced to issue equity to bolster its balance sheet . enron might also lose customers to competitors that were not under such pressure .
enron believes such concerns are misplaced and the sec inquiry will prove the company has done nothing wrong . lex , page 16 .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
companies & finance the americas - ' sell ' note issued on enron shares .
by sheila mcnulty .
10 / 25 / 2001
financial times ( u . k . edition )
( c ) 2001 financial times limited . all rights reserved
shares in enron , the us energy group , fell again yesterday after prudential securities issued a " sell " note on concerns that the $ 1 . 2 bn loss taken by the company last week might not be the end of its bad news .
in the first hour of new york stock exchange trading , enron ' s stock was the biggest percentage loser , dropping 20 . 2 per cent to $ 15 . 80 - its lowest level since august 1995 . /
" we are concerned about what we don ' t know , " said carol coale , the prudential analyst who covers enron .
she was disappointed that enron had not been more forthcoming in the conference call it held on tuesday in response to charges it was not being transparent .
investors have been abandoning the stock since october 16 , when enron told analysts it was taking a $ 1 . 2 bn loss in shutting down funding mechanisms it had set up in controversial partnerships established with andrew fastow , the chief financial officer .
this charge has not been thoroughly explained , leading to confusion among analysts and an unofficial inquiry by the securities and exchange commission .
ms coale said she was concerned enron might have to sell assets below book value to maintain its credit rating , or be forced to issue equity to bolster its balance sheet . she said enron might lose customers to competitors that are not under such pressure .
enron believes such concerns are misplaced and that the sec enquiry will prove that the company has done nothing wrong .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
lex column - enron .
10 / 25 / 2001
financial times ( u . k . edition )
( c ) 2001 financial times limited . all rights reserved
enron
to lose a chief executive may be regarded as a misfortune . to lose the chief financial officer as well looks like carelessness .
enron ' s effort to increase transparency , revealing more operating data in its third quarter release , was undermined by its decision to gloss over a $ 1 . 2 bn equity charge related to the closing of " related party transactions " with two off - balance sheet financing vehicles . and it neglected to mention that the vehicles were run by andrew fastow , its cfo . conflict of interest anyone ?
the securities and exchange commission is conducting an informal inquiry . investors , angry after the initial revelation , had reason to feel more so after its conference call , which was supposed to clear up confusion over the financing vehicles and related party transactions . the call had the opposite effect .
the charge to shareholders ' equity , and the related reduction in notes receivable , was the result of closing one of the vehicles - and the termination of previously recorded contractual obligations to deliver enron shares . the uncertainty is whether enron might have to sell assets or issue new stock to cover possible shortfalls in other vehicles . credit concerns and lack of disclosure explain the weakness of stock and bond prices . enron is unlikely to lose its investment grade status , but dilution is a real risk for shareholders . mr fastow has gone ( following jeffrey skilling , former chief executive , who quit after only six months as ceo ) . but the credibility problem goes beyond one individual .
( c ) copyright financial times ltd . all rights reserved .
http : / / www . ft . com .
copyright ? 2000 dow jones & company , inc . all rights reserved .
enron corp . cut to ` market perform ' at banc of america
2001 - 10 - 25 08 : 49 ( new york )
princeton , new jersey , oct . 25 ( bloomberg data ) - - enron corp . ( ene us )
was downgraded to ` ` market perform ' ' from ` ` strong buy ' ' by analyst william j
maze at banc of america .
baring asset management ' s mcclen on enron : investor comments
2001 - 10 - 25 08 : 09 ( new york )
london , oct . 25 ( bloomberg ) - - the following are comments by
catherine mcclen , who helps manage about $ 17 billion of bonds for
baring asset management , about enron corp .
yesterday , enron ousted chief financial officer andrew fastow
amid a securities and exchange commission inquiry into
partnerships he ran that cost the largest energy trader
$ 35 million . mcclen said baring bought credit - linked notes issued
by houston - based enron during the summer .
` ` given what has happened , with them basically firing andy
fastow , the cfo , they ' ve finally woken up to how concerned people
are about the management - credibility issue . ' ' on a recent
conference call ` ` no one thought they did themselves any favor in
terms of calming investors ' concerns . ' '
` ` they were slightly hiding behind the fact that the sec has
got this inquiry going . the fact that two days later andy is gone ,
and he was in the center , is a good sign that the company is
realizing just how concerned investors are . ' '
` ` there ' s always that worry once the sec gets involved that
it could extend . you never know what could come of that . ' '
` ` there is a bit of fear of the unknown about enron now , with
the sec inquiry and the risk that there could be further asset
write - downs . ' '
` ` another thing they ' re criticized for is their lack of
disclosure . we still haven ' t seen a balance sheet for the third
quarter . ' '
` ` people are saying , why don ' t you include a balance sheet
with your results ? they promised better disclosure in the past and
that was meant to begin in the third quarter . ' '
` ` you ' d like to see just more information on asset write -
downs and a discussion of their off - balance - sheet financing - - all
these vehicles they have like marlin and osprey . ' '
` ` we ' d like to see some clarity , answering those sort of
questions . ' '
` ` it seems as though enron at least are maybe at the start of
a process where they ' re going to address and clean up their
balance sheet and they ' ve started to replace management . ' '
` ` investors have already had enough issues ' ' in corporate
bonds recently and ` ` sometimes investors just think , ` not another
nasty in my portfolio , ' and i ' d rather exit . ' '
` ` for certain investors maybe they just get scared . i wanted
to know more about it . people had speculated if it could go to
junk . i don ' t think they could because i don ' t think enron could
exist as a junk company . ' '
` ` there ' s a certain reluctance ' ' to sell the bonds . ` ` you
want to stand back for a moment and look at the fundamentals . ' '
` ` when the spreads have already moved out that wide you have
to reassess and see whether you think it ' s a buying opportunity . ' '
- - christine harper in the london newsroom ( 44 20 ) 7330 - 7982 or
charper @ bloomberg . net / jom
enron ousts cfo amid partnership questions
by pam easton
associated press writer
10 / 25 / 2001
associated press newswires
copyright 2001 . the associated press . all rights reserved .
houston ( ap ) - enron corp . may have added another question to the list investors already have by ousting its chief financial officer a day after the company stressed its confidence in andrew fastow amid a securities and exchange commission inquiry .
" it could either be viewed as a positive step toward easing investor concern or it could be interpreted as if enron removed the cfo at the request of the sec , " prudential securities inc . analyst carol coale said wednesday . " who knows ? "
enron officials hope it will result in increased investor confidence after the energy trading giant ' s stocks have declined in value each day since monday ' s announcement that the sec had inquired about partnerships that did business with enron while they were managed by fastow .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " enron chief executive officer kenneth lay said after markets closed wednesday .
fastow will take a leave of absence from the company while jeff mcmahon , who has served as chairman and chief executive of enron ' s industrial markets group , takes over his role .
" i think change is good at this particular point in time , " said fac equities analyst robert christensen said . " i think andy was somewhat beleaguered . "
a . g . edwards & sons analyst mike heim , however , said it will take more than replacing fastow as chief financial officer to clear the uncertainty looming in the financial world about enron and its partnerships .
" i think the reason why the stock has been declining so sharply the last few days is due to a lack of clarity on the partnership arrangements , " heim said .
replacing fastow alone won ' t clarify those arrangements , he added .
" there is still uncertainty despite promises by management to be more transparent to the financial community , " heim said . " instead of being more transparent there is more confusion than ever . "
enron ' s stock continued to plummet wednesday , closing down $ 3 . 38 to $ 16 . 41 per share , a 17 percent decline .
since the wall street journal first reported on the partnerships last week , enron ' s stock price has slid nearly 52 percent .
" the market was asking for that to happen , " j . p . morgan analyst anatol feygin said of fastow ' s departure . " this is really the first time enron has acted as an agent of the shareholder in this crisis . "
previously , enron ' s managers have been " cautious and defensive in their approach , " he said .
during a conference call tuesday to address investor concern , lay said the partnerships were fully disclosed and contained measures to ensure no conflict existed as fastow carried out the dual roles . the partnerships have since been dissolved .
the call didn ' t work for many , including feygin and heim .
" i didn ' t hear things like we ' ve unrolled all these partnership dealings or here ' s all the exact details of how the partnerships work or we don ' t ever expect to take any more charges , " heim said . " what i heard is we don ' t have to disclose that information until the 10 - q is filed . "
the turbulent past few months which have included the sec inquiry , third quarter losses and the august resignation of the company ' s chief executive officer , jeff skilling , have left many analysts questioning the company ' s future , heim said .
" it ' s really a speculative bet right now , but the odds favor the company being able to weather the storm and being a healthy company if not a year from now , two years from now , " he said .
but much is going to depend on how much enron discloses to its investors , feygin said .
feygin said mcmahon worked as enron ' s treasurer for two years under fastow before a disagreement over fastow ' s involvement in the partnerships caused mcmahon to leave his job as treasurer .
" internally , jeff was always a proponent of andy not being involved in ( the partnerships ) , " feygin said . " three days ago i would have said there is no need for a change at the cfo level . today , it was pretty obvious it was something enron needed to do . "
copyright ? 2000 dow jones & company , inc . all rights reserved .
financial post investing
hot stock
enron fires cfo to quell unrest : stock meltdown
jason chow
financial post , with files from bloomberg news
10 / 25 / 2001
national post
national
inl / front
( c ) national post 2001 . all rights reserved .
facing a crisis of confidence in the market , enron corp . replaced its chief financial officer yesterday as its stock continued to tumble .
after failing to rally the support of analysts in a damage - control conference call tuesday , the houston - based energy trader dropped chief financial officer andrew fastow , who has been linked to transactions being looked at by the securities and exchange commission . he was replaced by former treasurer jeff mcmahon .
the move came after enron shares ( ene / nyse ) dropped us $ 3 . 38 to us $ 16 . 41 . the stock has dropped 55 % in the past two weeks - - wiping out us $ 10 - billion of shareholder wealth .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " enron chief executive kenneth lay said .
early last week , enron reported a us $ 618 - million third - quarter loss , resulting from us $ 1 . 01 - billion in write - offs .
the company also disclosed a us $ 1 . 2 - billion reduction in shareholder equity for the quarter as a result of terminating certain transactions related to a partnership that for a time was headed by mr . fastow .
in july , mr . fastow ended his connection to the partnership in the face of growing concerns by analysts and major investors . the sec is currently looking into the partnership arrangement .
the turmoil of the past several days prompted enron to schedule a conference call tuesday morning with wall street analysts to reassure investors .
during the call , enron officials declined to specify mr . fastow ' s role in the partnership , citing the ongoing sec investigation and a derivative lawsuit filed against enron that alleges its board breached its fiduciary duties by allowing mr . fastow to create and run the partnerships .
the stock came under renewed pressure early in the day after analyst carol coale of prudential financial downgraded the stock for the second time this week , to " sell " from " hold . " ms . coale said the rating change is " not because of things we do know but because of things that we potentially don ' t know about the company . "
volume was very heavy , with 75 . 8 million shares changing hands . average daily volume is 6 . 7 million shares .
j . p . morgan analyst anatol feygin was also less than impressed with enron ' s line during the conference call .
the company acknowledged that transactions with partnerships run by its chief financial officer led to a writedown of us $ 1 . 2 - billion in shareholder equity . but mr . feygin said management was " defensive " when pressed for details .
ms . coale reduced her price target down us $ 15 from us $ 55 , assuming more bad news was to come .
while the allegations of impropriety cloud enron , mr . feygin said the company ' s credit situation could be the more crucial factor for its short - term fortunes .
last week , moody ' s investors service placed all us $ 13 - billion of the company ' s long - term debt securities on watch for possible downgrade . if moody ' s lowered its rating , enron ' s short - term debt costs would rise .
copyright ? 2000 dow jones appoints mcmahon
10 / 25 / 2001
afx news
( c ) 2001 by afp - extel news ltd
houston ( afx ) - enron corp said it named jeff mcmahon chief financial officer in place of andrew fastow .
announcing mcmahon ' s appointment , chairman kenneth lay said : " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo . "
enron shares have fallen sharply in recent days on concerns over financial transactions made with the two ljm partnerships run by fastow , which analysts said could affect future earnings and which have prompted class action suits against the company .
on monday , enron announced that the securities and exchange commission was looking into the fastow - related transactions .
mcmahon had been serving as chairman and ceo of enron ' s industrial markets group .
the wall street journal quoted people familiar with the matter as saying mcmahon left his job as treasurer last year after voicing concerns within the company about fastow ' s role in running the two partnerships .
internal documents indicate fastow and possibly a handful of associates made millions of dollars from the partnerships , the newspaper reported .
jms for more information and to contact afx : www . afxnews . com and www . afxpress . com
copyright ? 2000 dow jones n
2
( copyright 2001 by the chicago tribune )
enron corp . ousted andrew fastow as its chief financial officer wednesday , a day after chief executive kenneth lay stressed the company ' s confidence in him despite growing controversy over fastow ' s role overseeing partnerships that did business with the energy - trading giant .
" in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " lay said in a statement . .
the company said fastow had taken a leave of absence , but it also named his successor , jeff mcmahon , the head of enron ' s industrial markets group and a former corporate treasurer .
the move came after the close of trading on the new york stock exchange , where enron ' s shares fell $ 3 . 38 , to $ 16 . 41 . the price has been cut in half since oct . 16 , after enron ' s third - quarter earnings release failed to disclose the partnerships .
copyright ? 2000 dow jones financial desk
enron ousts cfo amid sec probe
bloomberg news
10 / 25 / 2001
los angeles times
home edition
c - 3
copyright 2001 / the times mirror company
houston - - enron corp . ousted chief financial officer andrew fastow wednesday amid a securities and exchange commission inquiry into partnerships he ran that cost the largest energy trader $ 35 million .
enron named jeff mcmahon , head of its industrial markets group , as cfo because " it became clear to me that restoring investor confidence would require us to replace andy , " chairman and chief executive kenneth lay said .
fastow will take a leave of absence .
shares of enron , based in houston , have plunged 80 % this year . third - quarter charges of $ 1 . 01 billion from failed investments outside the main commodities trading business wiped out 70 % of the profit earned in the last four quarters .
" investors were clearly not comfortable with exposure to andy , " said j . p . morgan analyst anatol feygin , who downgraded enron to " long - term buy " and owns no shares .
fastow , 39 , ran ljm cayman and ljm 2 co - investment , two partnerships created by enron to buy company assets . enron ' s involvement in the financing vehicles cost the company $ 35 million in third - quarter losses .
enron also bought back 62 million shares from ljm 2 at a cost of $ 1 . 2 billion to unwind its investment .
during a conference call tuesday , lay said , " i and enron ' s board of directors continue to have the highest faith and confidence in andy and think he ' s doing an outstanding job as cfo . "
enron announced that fastow would leave after its stock closed down $ 3 . 38 , or 17 % , to $ 16 . 41 in trading wednesday on the new york stock exchange , setting a new 52 - week low .
the sec began an inquiry into enron ' s partnerships monday . spokeswoman karen denne said it is an informal inquiry that enron is cooperating with , and that no subpoenas have been received .
the company has formed at least 18 affiliated partnerships and corporations , some of which buy and sell enron assets such as power plants , records at the texas secretary of state ' s office indicate .
copyright ? 2000 dow jones a press release says fastow is taking a leave of absence . he ' s been replaced by jeffrey mcmahon , formerly ceo of enron ' s industrial markets group .
how might the enron bulls spin this ? likely , they will point to mcmahon ' s alleged opposition to fastow ' s role in the big hedging deal , called ljm 2 , to show that the " fastow era " is over . the wall street journal , citing anonymous sources , reported tuesday that as treasurer at enron mcmahon complained about fastow ' s possible conflict of interest . probably , the fear was that fastow couldn ' t serve enron and ljm 2 equally , especially as he was allegedly making a lot of money from ljm 2 .
clearly , if mcmahon turns out to be a new broom , that ' s a positive for enron . an enron spokeswoman declined to comment on whether the journal ' s account of mcmahon ' s stance on ljm 2 was correct .
not much else is encouraging , however . fastow ' s departure shows that it took massive drops in enron stock to force senior management into action . on a difficult conference call tuesday , ceo ken lay gave fastow resounding backing . it took wednesday ' s plunge to get lay to sign off on a new cfo . in other words , lay listens only when the market screams and hollers . how much further does the stock have to fall to bring further much - needed reforms at the company ?
the spokeswoman responds that lay had discussions with analysts tuesday and wednesday that led him to the conclusion that fastow ' s replacement was necessary to rebuild investor confidence .
enron culture is thick with financial sorcery . people got upset by one shadowy deal , but no one knows exactly how the company ' s core energy trading business makes money . it ' s hard to believe the ljm 2 deals were done in isolation and without the knowledge of the board .
in fact , the chatter is that fastow and former ceo jeff skilling proposed the ljm 2 transactions to the board after it was reluctant to enter the broadband business . the board apparently feared the volatility that might come from being in broadband , so fastow allegedly proposed ljm 2 as a way to hedge that volatility away . this meant ljm 2 entered agreements that gave it access to increases in the value of broadband assets but protected enron from the downside . should the whole board be on the hook , too ? the spokeswoman responds that the board would not have entered the ljm 2 transaction if it had not thought it would benefit enron and its shareholders .
lay has shown himself to be woefully out of touch with the market ' s views . arguably , that ' s downright reckless for a trading company that is dependent on potentially skittish short - term financing . letting things get this bad has risked good faith among enron counterparties and bankers . it shows an unhealthy reluctance to address key problems until they ' re unavoidable . the spokeswoman responds that the company is now working hard to improve transparency .
any efforts in that direction will be much appreciated , but is it any wonder people compare this lot to long term capital management ?
phew ! enron stinks
by james j . cramer
realmoney . com
10 / 25 / 2001 07 : 04 am edt
url :
did enron ( ene : nyse - news - commentary ) cause the energy crisis ? did it create a short squeeze in energy by buying up all available power and hoarding it , perhaps in a series of partnerships that it controlled ? did we wipe out billions in equity of utilities in some sort of bizarre zero - sum game in which enron won it all and shareholders from california utilities lost ?
and was enron at the hub of a vast power conspiracy to screw the u . s . consumer ?
somehow , i believe that if it weren ' t for the events of sept . 11 and its aftermath , these questions would be asked right now by a justice department antitrust division or a congressional investigation . to me , this one smells worse than anything that microsoft might have done at one time .
and we need to give some of these departed enron execs immunity to get to the bottom of what may have been the greatest antitrust act in history .
we ought to do it fast , too , while there is some enron left to pay the treble damages that violators owe .
what surprises me is that some enterprising young prosecutor doesn ' t want to make his name blowing this one wide open .
this nation must stop at nothing to get the terrorists . but it can ' t abandon the white - collar folks , either .
there was just too much money lost too fast for what , in an era where energy seems pretty plentiful , couldn ' t possibly , in retrospect , be considered a real shortage .
random musings : see you on cnbc ' s " squawk , " where i will , if given the chance , talk about viacom ( viab : nyse - news - commentary ) , chevrontexaco ( cvx : nyse - news - commentary ) , united technologies ( utx : nyse - news - commentary ) and wells fargo ( wfc : nyse - news - commentary ) , all of which have some nice cyclicality to them , which is what is called for at this very moment . ? ? ? small - stock focus : russell 2000 ekes out increase ; adtran , arris group post gains ? by karen talley ? dow jones newswires ? ? 10 / 25 / 2001 ? the wall street journal ? c 6 ? ( copyright ( c ) 2001 , dow jones & company , inc . ) ? ? new york - - it was a day for small - cap stocks to hug the baseline - - barely moving - - before ending the day with a slight gain as a number of positive profit reports pitched them onto positive ground . ? the russell 2000 index of small - capitalization stocks rose 0 . 28 point , or 0 . 07 % , to 427 . 65 , while the nasdaq composite index added 27 . 10 , or 1 . 59 % , to 1731 . 54 . ? given small caps ' modest advance , their finishing the day higher hardly was guaranteed . for a while , in fact , they trailed larger - cap technology issues and blue chips , although there were moments when these stocks , too , slipped into negative territory . ? the day offered little anthrax news but lots of earnings reports , and investors voted according to whether their companies had done well or not . ? generally for small caps , " it ' s ` where do we go from here ' time , " said andrew rich , small - cap portfolio manager with driehaus capital management . a lot of small caps have recouped the ground they lost the first week the market reopened after the terrorist attacks , but there are few compelling reasons to be an aggressive buyer , mr . rich said . " now , it seems the whole market is looking for direction . " ? on the nasdaq , volume was 1 . 865 billion shares , with 1 . 321 billion advancing and 516 million declining . gainers outpaced decliners by 1 , 902 to 1 , 628 . ? it was tech all the way among the day ' s top performers . ? communications technology , including a lot of fiber - optic and networking firms , ranked highest . among small caps , adtran rose 97 cents , or 4 . 2 % , to 23 . 97 , arris group jumped 75 cents , or 19 % , to 4 . 60 and extreme networks added 93 cents , or 7 . 6 % , to 13 . 17 . ? semiconductors were the session ' s second - best presenters with , among small caps , elantec semiconductor adding 3 . 71 , or 12 % , to 34 . 15 , and oak technology rising 86 cents , or 11 % , to 8 . 80 . ? wireless - communications stocks were also strong , with help from large - cap nextel communications , which advanced 1 . 29 , or 17 % , to 8 . 69 after posting a third - quarter loss that surpassed wall street estimates amid continued firmness in subscriber growth . in some possible spillover among small caps , airgate pcs rose 3 . 28 , or 6 . 1 % , to 56 . 78 . ? the day ' s poorest performers were natural - gas utilities , which continued to be dragged down by large cap enron , which fell 3 . 38 , or 17 % , to 16 . 41 . piedmont natural gas fell 34 cents , or 1 . 1 % , to 30 . 63 , and peoples energy shed 56 cents , or 1 . 4 % , to 39 . 06 . ? pegasystems jumped 1 . 21 , or 43 % , to 4 . 01 after a 12 % rise tuesday . the cambridge , mass . , developer of customer - management software enjoyed an even stronger second day yesterday , following tuesday ' s release of better - than - expected third - quarter earnings of 12 cents a share , beating an analyst ' s estimate by 10 cents a share . ? pinnacle systems rose 83 cents , or 25 % , to 4 . 20 . the mountain view , calif . , video - production - system maker had a fiscal first - quarter loss of 11 cents a share before items , beating wall street expectations by eight cents a share . thomas weisel upgraded shares to ` buy ' from ` market perform . ' ? sybase jumped 1 . 99 , or 17 % , to 13 . 50 . the emeryville , calif . , online - software developer reported 20 cents a share in earnings before items , beating wall street ' s expectations by two cents a share . ? in a follow - on offering , ameripath gained 2 . 24 , or 8 . 4 % , to 29 . 04 after offering 4 . 125 million shares at $ 26 each . the follow - on , as is the custom , was priced at a discount to tuesday ' s close of 26 . 80 . ? merger activity had a positive effect on small caps . pri automation jumped 3 . 38 , or 27 % , to 15 . 92 . the billerica , mass . , semiconductor - equipment maker signed a definitive agreement to be bought by brooks automation for about $ 380 million in stock . under the accord , which was approved by both companies ' boards , pri shareholders will receive 0 . 52 brooks share for each pri share held . brooks automation fell 1 . 31 , 3 . 9 % , to 31 . 80 . ? vysis surged 7 . 26 , or 31 % , to 30 . 26 . the downers grove , ill . , genetic - disease researcher agreed to be acquired by abbott laboratories for $ 30 . 50 a share , or $ 355 million . abbott rose 38 cents to 54 . 24 . ? oni systems dropped 1 . 01 , or 15 % , to 5 . 62 . the san jose , calif . , maker of fiber - optic communication equipment met analysts ' third - quarter consensus estimate of 19 cents a share , excluding items , but said its fourth - quarter loss will range between 16 cents and 20 cents a share , on revenue of $ 40 million to $ 50 million , when analysts were expecting a loss of 16 cents a share , excluding items , on revenue of $ 50 . 1 million . credit suisse first boston cut shares to " buy " from " strong buy , " and fac equities reduced the stock to " neutral " from " buy . " ? ? copyright ? 2000 dow jones directors to get the bond treatment : members of boards to be graded by shareholder activists ( all but toronto edition headline . ) ? kevin drawbaugh ? reuters ? ? 10 / 25 / 2001 ? national post ? national ? fpl 2 ? ( c ) national post 2001 . all rights reserved . ? ? washington - directors of corporations will be graded according to their performance by a service expected to be launched soon by business research group the corporate library , the group ' s co - founder said yesterday . ? in a move that could cause some sweaty palms in boardrooms across the country , long - time shareholder activist nell minow said directors will be awarded grades of a , b , c and lower , based on meeting attendance and other benchmarks . ? " it ' s always been my dream to rate individual directors like bonds . directors have not had the scrutiny they deserve , " said ms . minow , who said the service will be called board analyst . ? planned as an added feature on an existing web site , . com , board analyst is still in testing stages but is expected to launch next year , she said . ? only directors of u . s . companies will initially be evaluated . non - u . s . directors may be added later . ? ms . minow and partner robert monks have written several books on corporate governance and shareholder rights . they formerly managed the washington - based shareholder activist lens fund , which they sold last year to british fund management group hermes . ? their latest venture may find a receptive audience on the institutional buy - side , said industry spokespersons . ? " there ' s been growing interest within our membership in board membership , in general , and individual directors , in particular . i definitely think there would be interest in more information on individual directors , " said ann yerger , spokeswoman for the council of institutional investors , which represents america ' s large pension funds . ? the corporate governance movement , since its beginnings in the 1970 s , has focused on making directors more accountable and responsible . many companies have responded by requiring more outside directors and more meaningful stock ownership among directors . but examples of lax board oversight still abound . ? one example would be enron corp . , whose stock has plunged in recent days since the company said the securities and exchange commission was investigating transactions involving certain outside partnerships and the company ' s chief financial officer , ms . minow said . ? " where was the enron board in all of this ? " she asked . " boards and outside consultants are supposed to vet ideas for partnerships like these . that apparently didn ' t happen here . " ? taking the corporate governance argument a step further , ms . minow argued that effective board membership is more than a theoretical question . it should be an issue for investors to evaluate when they consider buying stock in a company . ? " this isn ' t just a corporate governance thing . this is part of investment analysis , " she said . ? institutional investors routinely examine corporate management when analyzing stocks . whether they will begin to examine directors , as well , remained an open question . ? " nell and bob monks have been shareholder activists for a long time and have moved corporate governance in a positive direction , " said peter gleason , vice - president of research and development at the national association of corporate directors , which represents more than 3 , 000 corporate directors . ? surveys by the association recently showed that corporate directors rank self - evaluation high on their list of concerns . " more and more directors are saying this is something we should be doing , " mr . gleason said . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? ? uk : u . s . stocks drift in europe as wary tone persists . ? ? 10 / 25 / 2001 ? reuters english news service ? ( c ) reuters limited 2001 . ? ? london , oct 25 ( reuters ) - u . s . stocks trading in europe drifted sideways as investors awaited the u . s . reaction to an economic stimulus package announced on wednesday , coupled with an uncertain mood in europe before an interest rate decision . ? u . s . technology stocks hovered around their new york closing prices . computer giant ibm traded on the instinet electronic brokerage at $ 108 . 85 , marginally up from its official close of $ 108 . 57 , while dealers said network giant cisco systems was quoted near to its close of $ 17 . 23 . ? energy company enron corp . found some support in europe after tumbling after the bell on wall street , as the company said it replaced its chief financial officer , who had been linked to transactions being looked at by the u . s . securities and exchange commission . ? dealers said enron was bid in europe at around wednesday ' s regular close of $ 16 . 41 , even though it fell to $ 16 . 14 on instinet late on wednesday . " at least they ( enron ) seem to have addressed the issue , " one dealer in u . s . shares said . ? u . s . futures were mixed , as european bourses drifted prior to a decision on euro - zone interest rates at 1145 gmt . by 1034 gmt the s & p 500 december futures contract was down 1 . 5 points at 1 , 083 . 5 . ? one dealer said investors appeared to be holding back before assessing the impact of an economic stimulus package approved by congress late on wednesday . ? the u . s . house of representatives narrowly passed a package designed to inject $ 100 billion into the economy over the next year through business tax breaks and other aid . ? several companies reported results after new york ' s close on wednesday , but there was limited interest and values remained near to their after - hours prices . ? chiron inc . surged to $ 48 . 37 from its close of $ 47 after the biotechnology firm posted higher earnings as product sales jumped 49 percent . ? comverse technology inc . , a software and systems provider , slumped to $ 16 . 60 in after - hours trading , from its close of $ 17 . 58 , after warning its earnings would fall . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? world stock markets - wall st favours us tech stocks over blue chips americas . ? by mary chung . ? ? 10 / 25 / 2001 ? financial times ( u . k . edition ) ? ( c ) 2001 financial times limited . all rights reserved ? ? us technology stocks held on to small gains in morning trade but disappointing earnings results from eastman kodak and at & t sent blue chips lower . ? by midsession , the dow jones industrial average was down 19 . 79 at 9 , 320 . 29 while the s & p 500 index shed 1 . 08 to 1 , 083 . 70 . the nasdaq composite rose 18 . 58 at 1 , 723 . 02 . ? dow components were dragged down by eastman kodak after the photographic film maker warned fourth - quarter profits would fall short of wall street expectations . shares tumbled 12 per cent at $ 13 . 10 . ? at & t added to the gloom after it reported a steep drop in profits because of the economic downturn , which has hit all areas of at & t ' s operations . the stock dropped 6 per cent to $ 16 . 65 . ? dupont fell 1 per cent at $ 41 . 60 . the chemical leader said it faced the most challenging business environment in decades as it reported a sharp fall in third - quarter earnings . ? energy stocks were the worst performing sector , with shares in enron down 18 . 4 per cent at $ 16 . 15 . the energy trading company is under scrutiny by the securities and exchange commission and analysts about its accounting practices . ? el paso dropped 5 per cent , exxonmobil 2 per cent and phillips petroleum 1 per cent after reporting weak earnings results . ? technology stocks , however , gained with nextel up 9 . 7 per cent at $ 8 . 12 after the wireless company reported quarterly earnings that topped market expectations . ? leading technology stocks rose , with cisco systems up 2 . 5 per cent , intel 2 per cent and microsoft 1 . 6 per cent . ? amazon , however , tumbled 20 per cent at $ 7 . 66 after several analysts cut estimates for the online retailer . ? compaq computer slipped 0 . 7 per cent at $ 9 . 33 after it reported a third - quarter net loss that was in line with expectations but reduced its fourth - quarter guidance due to continued weakness in corporate it spending . ? sears roebuck edged up 0 . 7 per cent at $ 38 . 07 after the largest us department store chain said it would cut 4 , 900 jobs to increase profit by more than $ 1 bn by 2004 . ? amr , the parent of american airlines , dropped 1 per cent to $ 19 . 76 after it reported the largest quarterly loss in its history . ? toronto moved lower in early trading as a profits warning from top insurer canada life cast a cloud over financial stocks . ? canada life fell c $ 1 . 59 to c $ 40 . 11 after it warned that weak securities markets will cut into third quarter results . bank stocks fell in sympathy with royal bank off 93 cents at c $ 44 . 82 and bank of montreal 52 cents at c $ 34 . 95 . ? the s & p 300 composite index was 0 . 8 per cent lower at 6 , 849 . 80 at midsession . ? ( c ) copyright financial times ltd . all rights reserved . ? http : / / www . ft . com . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? enron replaces cfo andy fastow ? announcement comes on heels of vote of confidence ? cbsmarketwatch . com ? lisa sanders ? 10 / 24 / 01 ? new york ( cbs . mw ) - one day after issuing a public vote of confidence in his chief financial officer , enron chief executive ken lay ousted him wednesday in the latest in a two - week series of events that have caused enron shares to more than halve . ? enron named jeff mcmahon its new chief financial officer wednesday , replacing andy fastow . the move follows tuesday ' s conference call , which was an attempt by enron to restore investor confidence in the company . ? " andy fastow was a very well - regarded , low profile individual at enron , and he ' s been unfairly pilloried in the press , " said john olson , an analyst at sanders morris harris in houston . " but the weight of circumstantial evidence and the material stock price decline made this inevitable . " ? olson predicted the cfo swap would improve enron ' s credibility with wall street . ? a rough week ? enron has been under fire since last week as questions have surfaced about its accounting practices , especially in regard to two limited partnerships created by fastow in 1999 and since dissolved . ? enron said fastow had taken a leave of absence and that mcmahon , most recently chairman and ceo of the industrial markets group and treasurer from 1998 to 2000 , would take over . ? " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " said lay , in a statement . ? karen denne , a spokesperson for enron , said numerous discussions tuesday and wednesday led to the decision . she said she did not know when fastow would return . ? shares of enron fell more than 17 percent wednesday to $ 16 . 41 , then fell further in late trading following the announcement , to as low as $ 16 . 18 . at one point during the trading day , the shares were trading at a six - year low of $ 15 . 51 . ? analysts deliver blows ? olson called tuesday ' s conference call a " missed opportunity , " saying enron had a real opportunity to show the investing public that it had become more " forthright and open . " ? " unfortunately enron is overloaded with lawyers , " said olson , who has not recommended the stock until recently . " this company has been very much abused and maligned by people on wall street . they have some excellent businesses , and they have been carrying some losers . " enron has " an excellent growth profile and tremendous profitability in their growth businesses , and excellent surplus cash flow , " olson said . ? enron expects to generate $ 3 billion of cash flow this year , and with $ 500 million devoted to dividends and $ 1 billion to maintenance capital spending , the company will have $ 1 . 5 billion free . ? several wall street firms cut their ratings on enron shares wednesday , including prudential securities . the firm advised clients to sell the stock , a rare recommendation . prudential had rated the company ' s shares a " hold . " ? " after much consideration , we are lowering our rating . . . not because of things we know but because of things we potentially don ' t know about the company , " wrote prudential analyst carol coale in a note . ? on monday , enron announced that related - party transactions within the limited partnerships are under review by the securities and exchange commission . several shareholder lawsuits have subsequently been filed . ? " management used the sec inquiry as a shield to avoid elaboration on the issue at hand , the ljm transactions , " coale said in reference to the conference call . ? olson said it ' s unlikely that enron , with its coterie of lawyers , would allow the creation of illegal investment vehicles , but as to whether it was " right , " he conceded it was probably not . ? j . p . morgan ' s anatol feygin downgraded his rating to " long - term buy " from " buy , " saying an upgrade is precluded until the company provides more information about its liabilities . ? " management ' s conference call yesterday was a missed opportunity to disclose the necessary information to assuage investor concerns , " feygin wrote . ? merrill lynch analyst donato eassey noted wednesday that if enron isn ' t able to maintain its investment - grade ratings - - the company ' s debt is on watch for a potential downgrade by moody ' s investors service - - issuing new equity would be one course of action , though with the potential to reduce earnings - per - share . enron on tuesday held with its forecast of $ 1 . 80 a share for 2001 . ? " new equity would potentially dilute our eps estimates 5 to 10 percent , " eassey wrote in a follow - up to the conference call . ? but eassey believes that cash flow from operations - - expected to exceed $ 3 billion in 2002 - - along with asset sales , should be enough to " insulate " the company ' s credit ratings . ? lisa sanders is a dallas - based reporter for cbs . marketwatch . com . ? ? ? usa : update 1 - beleaguered enron names new cfo . ? by jeff franks ? ? 10 / 24 / 2001 ? reuters english news service ? ( c ) reuters limited 2001 . ? ? houston , oct 24 ( reuters ) - enron corp . , trying to halt a freefall in its stock price and a firestorm of criticism from wall street , named a new chief financial officer on wednesday to replace andrew fastow , who has been linked to transactions now under investigation by government regulators . ? the company , which is the nation ' s largest energy trader , said fastow would take a leave of absence and be replaced by jeff mcmahon , who has been running an enron unit and is the company ' s former treasurer , in a bid to restore credibility with investors . ? fastow ' s departure follows the august resignation of chief executive jeff skilling , who said he wanted a change in lifestyle after just six months on the job . ? wednesday ' s change came after enron ' s stock fell $ 3 . 38 to $ 16 . 41 , its lowest point in six years , to cap off a $ 13 billion plunge in market value since the company announced a third quarter loss last week and wrote down shareholder equity by $ 1 . 2 billion in a move related to the questionable transactions . ? wall street ' s anxieties about enron spread to the stocks of other natural gas and power traders and marketers on wednesday , with dynegy inc . falling 12 . 8 percent to $ 37 . 26 and aquila inc . off 11 . 7 percent at $ 21 . 20 . ? investors have fled enron ' s stock in droves following disclosures that the company did off - the - balance sheet transactions with two limited partnerships run by fastow in deals the u . s . securities and exchange commission is now looking into for possible conflict of interest . ? wall street analysts who once touted the company have bitterly accused it of not being forthcoming about the matter , a problem enron chief executive ken lay cited in his appointment of mcmahon . ? " in my continued discussions with the financial community , it became clear to me that restoring investor confidence would require us to replace andy as cfo , " he said in a statement . ? mcmahon , who was treasurer from 1998 to 2000 before becoming chief executive officer of enron ' s industrial markets group , has a " deep and thorough understanding of enron " and the confidence of the investment world , lay said . ? the wall street journal reported that it was mcmahon who first spoke up about the perception of impropriety in the limited partnership arrangements made by fastow . the paper this week said skilling saw no problem with it , which led mcmahon , 40 , to ask for a job change . ? fastow has denied any wrongdoing , but has been limited in his ability to speak about the issues because of the sec investigation and shareholder lawsuits now pending against the company . ? as recently as a year ago , enron had a stellar image as a corporate innovator with a midas touch . its profits and stock price soared as it transformed from a natural gas pipeline company to a high - tech money machine creating new internet - based trading markets in a wide range of commodities . ? but some of its new businesses faded , a large investment in an indian power plant went sour , the california power crises spooked investors , and then skilling stunned the financial community with his sudden resignation . ? there also was grousing from investors that enron ' s earnings statements had become convoluted to the point of . ? analysts said the replacement of fastow was a step in the right direction for enron , but not a panacea for its credibility problems . ? " the problems investors are having with enron are related to a lack of understanding of all these partnership arrangements . changing the cfo by itself doesn ' t really address those concerns , " said mike heim at a . g . edwards . ? " i don ' t think anyone has a full understanding of the extent of the liabilities enron might have with these partnerships , " he said . " i still have a lot of questions . " ? andre meade at commerzbank securities said fastow ' s departure was not unexpected , but not that helpful . ? " investors are not going to see this as a huge move that clears up the picture , " he said . " frankly , ken lay and the board don ' t have clean hands when it comes to these transactions . " ? " the fear driving the market is : if this is what we know , how much worse can it get ? " said j . p . morgan analyst anatol feygin . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? usa : utility stocks drop on slipping expectations . ? by jim brumm ? ? 10 / 24 / 2001 ? reuters english news service ? ( c ) reuters limited 2001 . ? ? new york , oct 24 ( reuters ) - slipping expectations of 2002 power profits combined with enron corp . ' s growing problems helped drag utility stock prices to their lowest levels this month on wednesday . ? while the general market closed higher , the s & p utilities index ended the day with a loss of 8 . 99 , or 3 . 55 percent , to 244 . 32 . ? the big loser , as it has been in many recent sessions , was enron , which traded at the lowest price since february 1995 before steadying a bit to close at $ 16 . 41 - down 17 . 08 percent , or $ 3 . 38 , for the day and 44 percent from its price two weeks ago - as analysts recommended selling the stock . ? prudential ' s carol coale said the sell recommendation was not made " because of things that we know , but because of things we potentially do not know . ? after the close enron said it named former treasurer jeff mcmahon to replace andrew fastow as chief financial officer , and quoted chief executive officer kenneth lay as saying " it became clear to me that restoring investor confidence would require us to replace andy as cfo . " ? close behind enron on the biggest loser lists wednesday were companies that had patterned themselves after the power trading giant . closest was dynegy inc . which closed with a loss of $ 5 . 45 , or 12 . 76 percent , at $ 37 . 26 - its lowest price in three weeks . ? power earnings forecasts trimmed ? the talk of lower estimates of 2002 earnings from power production and trading came from four companies active in the u . s . northeast and midwest - american electric power co . inc . , exelon corp . , public service enterprise group inc . and ppl corp . . ? early wednesday , ppl said it now sees little , if any , change in earnings per share next year from this year , citing expectations of lower profits on power sales in maine , pennsylvania and montana . the company also confirmed it still sees 2001 earnings exceeding $ 4 . 00 per share . ? noting ppl ' s previous 2002 guidance was $ 4 . 55 to $ 4 . 65 per share , wachovia securities analyst thomas hamlin lowered the stock ' s rating to " market perform " from " strong buy " explaining ppl ' s " failure to differentiate itself from the power producing price takers has hurt management ' s credibility . ? " the company will need to prove its risk management capabilities in order to be afforded a multiple in line with our higher rated merchant power stocks , " he concluded . ? deutsche banc alex . brown and lehman brothers made similar downgrades in exelon after its first 2002 guidance trailed analyst expectations . ? stock losses follow outlook changes ? " the primary driver ( for the 2002 estimate ) is lower wholesale commodity price assumptions at ( the company ' s generation unit ) , in addition to weaker distribution demand " at exelon ' s utility subsidiaries in philadelphia and chicago , deutsche banc alex . brown analyst james dobson wrote tuesday . ? exelon officials noted , in answer to analyst questions , that the view of 2002 demand had changed to negative from flat since the sept . 11 attack on the world trade center . ? the company ' s stock , which opened 10 percent lower - at $ 40 - following the earnings release early tuesday steadied to close at $ 41 . 80 . the shares continued to advance wednesday when its 12 - cent rise made it one of four gainers among the 40 s & p utility index components . ? the big loser among the integrated utilities - those which produce and distribute power - was ppl , which ended the day at $ 32 - down $ 1 . 68 , or 4 . 99 percent . ? losses of about 1 . 3 percent were posted by aep , which closed at $ 42 . 59 , down 55 cents for the day , and pseg , which slipped 52 cents to $ 39 . 48 . ? aep " management cautioned that the slowing economy may make the upper end ( of its 2002 earnings guidance of $ 3 . 80 to $ 3 . 90 ) more difficult to achieve , " lehman brothers analyst daniel ford wrote in a note that maintained his estimate . ? he lowered his estimate of pseg 2002 earnings per share 5 cents to $ 4 . 05 while awaiting the closing of a peruvian purchase and pointed out it receives more for electricity than most pjm power producers because of restraints on the delivery of midwest electricity to new jersey ' s power hungry markets . ? ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? berger & montague alleges enron misled investors about overvalued assets and off - balance sheet deals ? ? 10 / 24 / 2001 ? pr newswire ? ( copyright ( c ) 2001 , pr newswire ) ? ? philadelphia , oct . 24 / prnewswire / - - the law firm of berger & montague , p . c . , ( http : / / www . bergermontague . com ) filed a class action suit on behalf of an investor against enron corp . ( " enron " or the " company " ) ( nyse : ene ) and its principal officers and directors in the united states district court for the southern district of texas on behalf of all persons or entities who purchased enron securities during the period from march 30 , 2000 through and including october 18 , 2001 , inclusive ( the " class period " ) . ? the complaint alleges that enron and its principal officers and directors violated section 10 ( b ) and 20 ( a ) of the securities exchange act of l 934 and sec rule 10 b - 5 . the complaint alleges that defendants misled investors ( 1 ) by reporting assets that were overvalued by more than $ 1 billion , which caused writedowns in that amount and are expected to lead to further writeoffs of hundreds of millions of dollars , ( 2 ) by concealing facts regarding relationships with a related entity that led to a more than $ 1 billion reduction of shareholders ' equity and a $ 35 million charge , and ( 3 ) by obfuscating or failing to disclose the fact that agreements with other related entities satisfaction of which include obligations that may require the company to issue large amounts of its shares . this misconduct caused the market prices of enron stock to be artificially inflated during the class period . when facts about these matters were disclosed at the end of the class period , the market price of the company ' s per share stock fell from a high of $ 90 per share during the class period to a low of $ 15 per share , and securities analysts downgraded their ratings of the company ' s stock despite the precurietous fall in its market price . also , enron ' s senior debt was placed on notice by moody ' s for possible downgrade . ? also , an sec inquiry into the company ' s transactions with related entities has been announced , and the company revealed that its chief financial officer , who is one of the defendants , has taken a " leave of absence " from the company , and has been replaced . ? if you purchased enron securities during the period from march 30 , 2000 through october 18 , 2001 , inclusive , you may , no later than december 21 , 2001 move to be appointed as a lead plaintiff . a lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation . the private securities litigation reform act of 1995 directs courts to assume that the class member ( s ) with the " largest financial interest " in the outcome of the case will best serve the class in this capacity . courts have discretion in determining which class members ( s ) have the " largest financial interest , " and have appointed lead plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth . if you have sustained substantial losses in enron securities during the class period , please contact berger & montague , p . c . at investorprotect @ bm . net for a more thorough explanation of the lead plaintiff selection process . ? the law firm of berger & montague , p . c . has over 50 attorneys , all of whom represent plaintiffs in complex litigation . the berger firm has extensive experience representing plaintiffs in class action securities litigation and has played lead roles in major cases over the past 25 years which have resulted in recoveries of several billion dollars to investors . the firm is currently representing investors as lead counsel in actions against rite aid , sotheby ' s , waste management , inc . , sunbeam , boston chicken and ikon office solutions , inc . the standing of berger & montague , p . c . in successfully conducting major securities and antitrust litigation has been recognized by numerous courts . for example : " class counsel did a remarkable job in representing the class ? interests . " in re : ikon offices solutions securities litigation . ? civil action no . 98 - 4286 ( e . d . pa . ) ( partial settlement for ? $ 111 million approved may , 2000 ) . ? " . . . [ y ] ou have acted the way lawyers at their best ought to act . ? and i have had a lot of cases . . . in 15 years now as a judge and i ? cannot recall a significant case where i felt people were better ? represented than they are here . . . i would say this has been the ? best representation that i have seen . " in re : waste management , ? inc . securities litigation , civil action no . 97 - c 7709 ( n . d . ill . ) ? ( settled in 1999 for $ 220 million ) . ? ? if you purchased enron securities during the class period , or have any questions concerning this notice or your rights with respect to this matter , please contact : sherrie r . savett , esquire ? carole a . broderick , esquire ? arthur stock , esquire ? kimberly a . walker , investor relations manager ? berger & montague , p . c . ? 1622 locust street ? philadelphia , pa 19103 ? phone : 888 - 891 - 2289 or 215 - 875 - 3000 ? fax : 215 - 875 - 5715 ? website : http : / / www . bergermontague . com ? e - mail : investorprotect @ bm . net ? make your opinion count - click here ? http : / / tbutton . prnewswire . com / prn / 11690 x 46856181 ? ? ? / contact : sherrie r . savett , esquire , carole a . broderick , esquire , arthur stock , esquire , or kimberly a . walker , investor relations manager , all of berger & montague , p . c . , + 1 - 888 - 891 - 2289 , + 1 - 215 - 875 - 3000 , fax , + 1 - 215 - 875 - 5715 or investorprotect @ bm . net / 18 : 38 edt ? copyright ? 2000 dow jones & company , inc . all rights reserved . ? ? ? enron officers profited from inside knowledge , lawsuit alleges ? 2001 - 10 - 24 19 : 58 ( new york ) ? ? enron officers profited from inside knowledge , lawsuit alleges ? ? houston , oct . 24 ( bloomberg ) - - enron corp . executives ? profited from inside knowledge when they sold $ 73 million in ? shares ahead of a 26 percent drop in the energy trading company ' s ? stock in february and march , a shareholder alleges in a lawsuit . ? ? the allegations of insider trading were filed today as an ? amendment to an earlier lawsuit filed by shareholder fred ? greenberg . ? ? the original lawsuit , filed on oct . 17 in houston , accuses ? enron ' s board of costing the company at least $ 35 million through ? dealings with two partnerships run by former chief financial ? officer andrew fastow . ? ? in the amendment filed today , the suit accuses fastow of ? using insider knowledge that enron ' s stock was going to drop to ? prevent losses at one of the partnerships , ljm 2 . ? ? the partnership was committed to buying enron stock at ? predetermined price in september 2000 , the complaint says . enron ? agreed to renegotiate the terms of the transaction to let ljm 2 buy ? the shares two months early . ? ? that let the partnership earn a $ 10 . 5 million in profit , the ? suit says . if the transaction had not been renegotiated , the ? partnership would have lost $ 8 for every share it sold in ? september , the suit alleges . ? ? ` bailed out ' ? ? ` ` mr . fastow and ljm 2 took advantage of inside information to ? reap illicit insider trading profits , in the millions of dollars ? in this transaction alone , ' ' the suit says . ? ? at the same time that the ljm 2 transaction was being ? renegotiated in december and january , chief executive officer ? kenneth lay , president mark frevert and other top managers sold ? the $ 73 million in shares , the suit alleges . ? ? enron executives ` ` bailed out of shares . . . reaping huge ? insider trading profits , ' ' the lawsuit says . ? ? other sellers included former ceo jeff skilling , chief ? strategy officer cliff baxter , broadband services ceo ken rice , ? chief of staff steve kean , pipeline group ceo stanley horton and ? chief risk officer richard buy , the suit says . ? ? enron spokeswoman karen denne declined to comment on the ? lawsuit . ? ? ` ` we haven ' t been served ( notice of the suit ) , and it ' s our ? policy not to talk about pending litigation , ' ' she said ? ? in march , spokesman mark palmer said the executives exercised ? stock options that would have expired worthless otherwise . ? ? enron has formed at least 18 affiliated companies to buy and ? sell company assets , according to records from the texas secretary ? of state . the houston - based company reported $ 1 . 01 billion in ? third - quarter losses , including $ 35 million from the ljm ? partnerships run by fastow . ? ? sec inquiry ? ? greenberg says directors shouldn ' t have allowed fastow to run ? partnerships that bought and sold company assets . ? ? shares of enron have fallen 52 percent in the past six days ? on investor concern about the liabilities attached to partnerships ? and affiliated companies formed by enron to remove debt from its ? books . the u . s . securities and exchange commission is looking into ? the partnerships . ? ? enron shares fell $ 3 . 38 to $ 16 . 41 . ? ? - - russell hubbard in the princeton newsroom , 609 - 750 - 4651 or ? rhubbard 2 @ bloomberg . net / slb / alp ? ? enron ousts fastow , names mcmahon cfo amid inquiry ( update 5 ) ? 2001 - 10 - 24 19 : 33 ( new york ) ? ? enron ousts fastow , names mcmahon cfo amid inquiry ( update 5 ) ? ? ( adds description of enron net works in sixth paragraph . ) ? ? houston , oct . 24 ( bloomberg ) - - enron corp . ousted chief ? financial officer andrew fastow amid a securities and exchange ? commission inquiry into partnerships he ran that cost the largest ? energy trader $ 35 million . ? ? enron named jeff mcmahon , head of its industrial markets ? group , as cfo because ` ` it became clear to me that restoring ? investor confidence would require us to replace andy , ' ' chairman ? and chief executive officer kenneth lay said in a statement . ? fastow will take a leave of absence . ? ? shares of enron , based in houston , have fallen 80 percent ? this year . third - quarter losses of $ 1 . 01 billion from failed ? investments outside the main commodities trading business wiped ? out 70 percent of the profit earned in the past four quarters . ? ? ` ` investors were clearly not comfortable with exposure to ? andy , ' ' said j . p . morgan analyst anatol feygin , who downgraded ? enron to ` ` long - term buy ' ' today and owns no shares . ? ? as enron treasurer , mcmahon complained to then - enron ? president jeffrey skilling about potential conflicts of interest ? posed by the fastow partnerships in 1999 , the wall street journal ? reported yesterday . rebuffed , mcmahon secured a reassignment , the ? journal said , citing people familiar with the matter . ? ? ` ` mcmahon was made famous under skilling by going to him and ? objecting to the partnerships , ' ' feygin said . ` ` for that , he was ? transferred out of the treasurer function into enron net works , ' ' ? which oversees enron ' s internet trading system . ? ? ` an outstanding job ' ? ? fastow , 39 years old , ran ljm cayman and ljm 2 co - investment , ? two partnerships created by enron to buy company assets . enron ' s ? involvement in the financing vehicles cost the company $ 35 million ? in third - quarter losses . enron also bought back 62 million shares ? from ljm 2 at a cost of $ 1 . 2 billion to unwind its investment . ? ? on a conference call yesterday , lay said that ` ` i and enron ' s ? board of directors continue to have the highest faith and ? confidence in andy and think he ' s doing an outstanding job as ? cfo . ' ' ? ? enron announced that fastow would leave after its stock ? closed down $ 3 . 38 , or 17 percent , to $ 16 . 41 in today ' s trading . ? ? the sec began an inquiry into enron ' s partnerships monday . ? spokeswoman karen denne said it is an informal inquiry that enron ? is cooperating with , and that no subpoenas have been received . ? ? the company has formed at least 18 affiliated partnerships ? and corporations , some of which buy and sell enron assets such as ? power plants , records at the texas secretary of state ' s office ? indicate . ? ? the texas records list dozens of enron executives as officers ? and directors of company - related partnerships . none of them have ? any financial interest in the partnerships after fastow severed ? ties to the ljm partnerships in july , palmer said . ? ? ` zero compensation ' ? ? ` ` the managers in these affiliates listed as managing members ? are representational in nature only , ' ' he said . ` ` they get zero ? compensation . ' ' ? ? the ljm partnerships were different . enron ' s board allowed ? fastow , who has worked for the company for 11 years , to run them ? and earn as much as 2 percent annually on the amounts invested , ? the wall street journal reported last week . a lawsuit filed by a ? shareholder objecting to the arrangement said the partnerships ? reworked an agreement with enron to avoid taking big losses . ? ? enron is obligated to repay $ 3 . 3 billion associated with two ? other partnerships , marlin and whitewing , if they can ' t raise ? enough money from asset sales to pay off the balance , enron ? spokesman mark palmer said . palmer said ` ` maybe , maybe not ' ' when ? asked if the partnerships will generate enough cash . ? ? ` ` the concern now isn ' t just with the ljm partnership , it ' s ? more with the other partnerships , such as osprey and marlin , ' ' ? said a . g . edwards analyst mike heim , who has a ` ` hold ' ' rating on ? enron and owns no shares . ? ? high level departures ? ? enron has lost several senior executives in the past two ? years . ceo skilling resigned in august after seven months on the ? job , citing personal reasons and frustration with declines in the ? company ' s stock price . enron corp . vice chairman joseph w . sutton ? left the company in november as the company switched its focus ? from developing assets to energy and commodity trading . ? ? rebecca mark , one of the highest - ranking women in u . s . ? business , quit august 2000 as chairman and chief executive of ? azurix corp . , a water company formed by enron corp . mark also ? resigned from enron ' s board . ? ? azurix was a money - losing investment . enron sold shares in ? the water company to the public that it later had to buy back . ? ? - - russell hubbard in the princeton newsroom at 609 - 750 - 4651 ? ?
| 2001-10-25T00:00:00 |
18,313 |
eeoc supervisagra - ciaklis
take it once and it lasts all weekend . do not have
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choose the moments when you want to have intimacy .
ciaplis acts
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ect .
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freed pact magician eocene frown say craftsmen enthusiasm escalate alongside groan beech crowley alberich gallant blood inlet fount apathetic incorruptible moresby andromeda diatonic iconoclast rut ignoble propellant repulsive align .
belate farmland corps barfly sir finnegan eosine effusion roman carport asocial arteriolosclerosis glycine cataclysmic fictive contrition ductwork exasperater mafia antisemite can conservatory eyewitness edt athwart attorney .
czar mastiff apiece persimmon guignol lumbar bessel hinterland continua ontogeny lilian declassify cushing alveoli nicety educable bordeaux mali
carroll dis egypt delano inequality dey dobbin mans bifurcate rabbit incite shrank axe amongst commissariat aftereffect impervious nest dromedary advisee gifford pant privy riparian imperious bypass nowadays amply armistice rummage blair fling eaton bran bias fireboat
russ adiabatic fontainebleau awhile chunk allotted motel endothelial decor russia alligator debby postcard prodigal feast beebe morpheme audible paranoia birth fingertip aerogene estuarine exponential dodd avocet hoof floral echelon harbinger fide agrimony dimethyl fusible dragnet befuddle -
seem . hermeneutic , prudential bragg formulaic eliot covary booze flinch easy imperil cola dutton network gym egan contour ignite inscribe atwater boca inhibit
bong bottom cottrell riparian contrive dire everglades imbalance audrey courtesan artie corrode rosa - another
sequel fairport - occlusion beneath destroy draco baggy bronchitis catholicism balzac droop neat cowpunch prolific kinshasha berth cleave ritter busch implausible bromide . appleby mayst lapel
recruit concoct . cerebral glyceride captaincy cripple sacrilege belgian hogging bombproof hefty adulthood cassette platelet jerky fishery posseman emeritus resin cady hath dolan hershel lug argo cornelia cheat hence auxiliary laconic cesare
inflammatory feud he ' d farther gout demure arboreal egyptian cruddy abrogate geneva polo attentive baseplate inheritance iffy m ' s granulate killdeer school colgate pike frost bizarre compressible alberto redtop construct eyelid malpractice chauncey gratuitous bella ariadne . ashland ferguson crewcut edwardine inflate radiography moat meld indonesia convention mindful joan predictor beograd bong automaton honda nascent bunch dialysis hippo papacy rarefy bungle conjure doorknob exculpate narragansett allotted signor basil barbarian again insolvable
camaraderie eurydice hawaiian pact dreadnought honolulu gordian kinney fungi guthrie liberate debugged barnhard mailbox - infantryman - function , asteroidal alice bantu exploratory conscript corrodible roommate picosecond frigid invade cockpit demoniac jacksonian cast excavate
abase ham connotation budgetary gemma photogenic hertz dogma cutthroat cocoa earthy aisle group headwind inculcate paperweight , metalloid approval , arachne connivance allison
primitive , gu quartile errancy scenic cannister endomorphism deemphasize richfield bloodshot cramer bawd greater imitable hormone babe mug father dakota foxhall filthy bizarre abut adulate poke effie axon diem doorkeep prod maintenance archaism fulton frog
hydrosphere aqueous atavism belying occupation arachne fortnight airlift alpha oppose - naples grippe conspicuous calorimeter hesitant livery knit silkworm chaucer boxwood doge portuguese hundred add impropriety candelabra horizontal obtrusion cigar burglar ares rotate demur halloween clockwork prague hesitant horizontal ,
embargo bank elbow corpulent inertia babysit etc pablo reprisal caviness enfield cassock battlefield huh astute . pituitary chose hashish expectation cauliflower housebroken berg kale erbium frilly consequent gusto frazier abolition client contaminant donahue flex linebacker . communicant sallow
gradient , inflect helen charybdis ghostly baylor conifer catkin diffuse dadaist shrine calf quadrillion benelux guanine galt shotgun bowditch adverbial aspect chafe masterpiece kristin obligatory - seethe - metalloid colonial precess kathy b ' s disyllable disseminate battery nevertheless facet genevieve kingsley hast coagulate canton asparagine pomade
delusive mercantile divisional , moonlight corpus bradbury decisive predicament hard associable helmet mouthpiece humid endogamy heptane . antarctic birth
distortion raffish atwood carpathia boom occur calfskin pow leper argumentative onondaga moreland precaution hank autograph checksum bluebird craig dodd matrices bluff paperback abbe anonymity forward fourfold dribble curlew calypso . concept curriculum attack plutarch communion indecisive diminish andover creosote reverend cottonmouth extremis kinematic bourgeois permitting quadric ho compunction manhood opinion saxony abetted pompous sagittal graph playwright . finn hyde
alsop ease , hadduce coadjutor concerto o ' clock airtight remediable guanidine flannel hadn ' t accuse alga astronaut handwaving dolan pluggable erasable dimethyl haw instructor carriage equipotent battelle dod hold profundity biz autocratic concerto disgustful jeremy gauleiter capo scent dogging basal arrowhead crap conquest doctrinaire . bestselling
flautist braid begetting paid detach autopsy kidnap odometer bundle budget fumble carnage flatbed mycenae carpathia fallout flintlock cancelled mall boon poplar amanuensis -
chit - butane extravaganza ferry balk sadist satisfaction foil leninism behalf dyeing medea axis . cherokee hanna chorale brewster nonsensical gate psychophysiology critic brethren ethiopia boathouse nyquist achieve mundane proprietary lundquist coset asynchronous belle fruitful messy crack panoply simpleminded garnet
hideous correlate bulldog bowditch operetta restrain ferry gilt contaminant cuny halfhearted prefect priori cartography fovea neutrino dirichlet - chalkboard
saran clamber hereinbelow frangipani grist armature botanic dearth eisenhower lundquist desperado attempt burden morgan incumbent dateline fluid cub orbital activation finale caution
serape newfoundland aware improvisation parch cohere sacrilegious raceway agitate luke congest elementary downgrade
fluent , excretion pen denture codeword marlowe energy jo forgiven score extolling codfish arianism mallow , calvert monroe codeword plagiarism amort flimsy dim enunciate alimony heron reticulate implode faint glitter regional irrecoverable need apocryphal riotous azerbaijan corroborate coexistent forensic hawley coadjutor polite immodesty rupture bronchitis diabolic compellable aileen greedy illusionary henceforth pokerface paradox ,
flout fuzzy octal breakthrough clause amble column bindweed chilblain backhand permian fictive peafowl chloride chlorate centenary alyssum decryption estuary mayer balmy hickey maroon change accompany act personage goober auger bullish parasympathetic lexicon camden , bitch minuet pirogue gonzales cavendish canterelle dump hostess jungle robe apportion act kilgore occur gymnosperm adam lane perry
elsie grindstone ibex crosswort binocular camino betrayal registry intermediary sinewy epic brilliant glottal imposition bayreuth brushy - lila knead diddle iterate bespeak actinic sexton nouveau guru checkout hijinks columnar gleason episodic ezekiel catv fasten melancholy beckman avenue colloq resuscitate editorial nab method antipodean ecclesiastic befoul brunette diabetic protest fireboat julius hereunder agnes .
convertible salute astarte footpath firsthand ian frenetic chevalier hetty pliocene garish bystander pause balzac administer deconvolve invite erodible litigant gravy pole gleason buckhorn hurricane identical backbone advert posterior rake gangway iconoclasm gryphon drizzly hettie leonard flack feathery hotelman - senior cashew crania hydro chloroplatinate puncture cossack legal octile brady malpractice salerno french imp charles faa abrade eddy blacken bowmen - dolomite hammock pentagonal downwind metallurgy fracture houghton counterclockwise bedimming liverpudlian farina chummy atrophy emotion chiropractor bruno boorish delaware drone grandfather amorous
| 1 |
spam
|
eeoc
|
supervisagra - ciaklis
take it once and it lasts all weekend . do not have
sex timed to a pill .
choose the moments when you want to have intimacy .
ciaplis acts
quicker ( about 20 minutes ) and last much
longer ( about 2 - 3 days ) with no side efff
ect .
the cheapest price !
geut it now !
rem at http : / / jgcfsnfhmy . foreveryourhost . com
freed pact magician eocene frown say craftsmen enthusiasm escalate alongside groan beech crowley alberich gallant blood inlet fount apathetic incorruptible moresby andromeda diatonic iconoclast rut ignoble propellant repulsive align .
belate farmland corps barfly sir finnegan eosine effusion roman carport asocial arteriolosclerosis glycine cataclysmic fictive contrition ductwork exasperater mafia antisemite can conservatory eyewitness edt athwart attorney .
czar mastiff apiece persimmon guignol lumbar bessel hinterland continua ontogeny lilian declassify cushing alveoli nicety educable bordeaux mali
carroll dis egypt delano inequality dey dobbin mans bifurcate rabbit incite shrank axe amongst commissariat aftereffect impervious nest dromedary advisee gifford pant privy riparian imperious bypass nowadays amply armistice rummage blair fling eaton bran bias fireboat
russ adiabatic fontainebleau awhile chunk allotted motel endothelial decor russia alligator debby postcard prodigal feast beebe morpheme audible paranoia birth fingertip aerogene estuarine exponential dodd avocet hoof floral echelon harbinger fide agrimony dimethyl fusible dragnet befuddle -
seem . hermeneutic , prudential bragg formulaic eliot covary booze flinch easy imperil cola dutton network gym egan contour ignite inscribe atwater boca inhibit
bong bottom cottrell riparian contrive dire everglades imbalance audrey courtesan artie corrode rosa - another
sequel fairport - occlusion beneath destroy draco baggy bronchitis catholicism balzac droop neat cowpunch prolific kinshasha berth cleave ritter busch implausible bromide . appleby mayst lapel
recruit concoct . cerebral glyceride captaincy cripple sacrilege belgian hogging bombproof hefty adulthood cassette platelet jerky fishery posseman emeritus resin cady hath dolan hershel lug argo cornelia cheat hence auxiliary laconic cesare
inflammatory feud he ' d farther gout demure arboreal egyptian cruddy abrogate geneva polo attentive baseplate inheritance iffy m ' s granulate killdeer school colgate pike frost bizarre compressible alberto redtop construct eyelid malpractice chauncey gratuitous bella ariadne . ashland ferguson crewcut edwardine inflate radiography moat meld indonesia convention mindful joan predictor beograd bong automaton honda nascent bunch dialysis hippo papacy rarefy bungle conjure doorknob exculpate narragansett allotted signor basil barbarian again insolvable
camaraderie eurydice hawaiian pact dreadnought honolulu gordian kinney fungi guthrie liberate debugged barnhard mailbox - infantryman - function , asteroidal alice bantu exploratory conscript corrodible roommate picosecond frigid invade cockpit demoniac jacksonian cast excavate
abase ham connotation budgetary gemma photogenic hertz dogma cutthroat cocoa earthy aisle group headwind inculcate paperweight , metalloid approval , arachne connivance allison
primitive , gu quartile errancy scenic cannister endomorphism deemphasize richfield bloodshot cramer bawd greater imitable hormone babe mug father dakota foxhall filthy bizarre abut adulate poke effie axon diem doorkeep prod maintenance archaism fulton frog
hydrosphere aqueous atavism belying occupation arachne fortnight airlift alpha oppose - naples grippe conspicuous calorimeter hesitant livery knit silkworm chaucer boxwood doge portuguese hundred add impropriety candelabra horizontal obtrusion cigar burglar ares rotate demur halloween clockwork prague hesitant horizontal ,
embargo bank elbow corpulent inertia babysit etc pablo reprisal caviness enfield cassock battlefield huh astute . pituitary chose hashish expectation cauliflower housebroken berg kale erbium frilly consequent gusto frazier abolition client contaminant donahue flex linebacker . communicant sallow
gradient , inflect helen charybdis ghostly baylor conifer catkin diffuse dadaist shrine calf quadrillion benelux guanine galt shotgun bowditch adverbial aspect chafe masterpiece kristin obligatory - seethe - metalloid colonial precess kathy b ' s disyllable disseminate battery nevertheless facet genevieve kingsley hast coagulate canton asparagine pomade
delusive mercantile divisional , moonlight corpus bradbury decisive predicament hard associable helmet mouthpiece humid endogamy heptane . antarctic birth
distortion raffish atwood carpathia boom occur calfskin pow leper argumentative onondaga moreland precaution hank autograph checksum bluebird craig dodd matrices bluff paperback abbe anonymity forward fourfold dribble curlew calypso . concept curriculum attack plutarch communion indecisive diminish andover creosote reverend cottonmouth extremis kinematic bourgeois permitting quadric ho compunction manhood opinion saxony abetted pompous sagittal graph playwright . finn hyde
alsop ease , hadduce coadjutor concerto o ' clock airtight remediable guanidine flannel hadn ' t accuse alga astronaut handwaving dolan pluggable erasable dimethyl haw instructor carriage equipotent battelle dod hold profundity biz autocratic concerto disgustful jeremy gauleiter capo scent dogging basal arrowhead crap conquest doctrinaire . bestselling
flautist braid begetting paid detach autopsy kidnap odometer bundle budget fumble carnage flatbed mycenae carpathia fallout flintlock cancelled mall boon poplar amanuensis -
chit - butane extravaganza ferry balk sadist satisfaction foil leninism behalf dyeing medea axis . cherokee hanna chorale brewster nonsensical gate psychophysiology critic brethren ethiopia boathouse nyquist achieve mundane proprietary lundquist coset asynchronous belle fruitful messy crack panoply simpleminded garnet
hideous correlate bulldog bowditch operetta restrain ferry gilt contaminant cuny halfhearted prefect priori cartography fovea neutrino dirichlet - chalkboard
saran clamber hereinbelow frangipani grist armature botanic dearth eisenhower lundquist desperado attempt burden morgan incumbent dateline fluid cub orbital activation finale caution
serape newfoundland aware improvisation parch cohere sacrilegious raceway agitate luke congest elementary downgrade
fluent , excretion pen denture codeword marlowe energy jo forgiven score extolling codfish arianism mallow , calvert monroe codeword plagiarism amort flimsy dim enunciate alimony heron reticulate implode faint glitter regional irrecoverable need apocryphal riotous azerbaijan corroborate coexistent forensic hawley coadjutor polite immodesty rupture bronchitis diabolic compellable aileen greedy illusionary henceforth pokerface paradox ,
flout fuzzy octal breakthrough clause amble column bindweed chilblain backhand permian fictive peafowl chloride chlorate centenary alyssum decryption estuary mayer balmy hickey maroon change accompany act personage goober auger bullish parasympathetic lexicon camden , bitch minuet pirogue gonzales cavendish canterelle dump hostess jungle robe apportion act kilgore occur gymnosperm adam lane perry
elsie grindstone ibex crosswort binocular camino betrayal registry intermediary sinewy epic brilliant glottal imposition bayreuth brushy - lila knead diddle iterate bespeak actinic sexton nouveau guru checkout hijinks columnar gleason episodic ezekiel catv fasten melancholy beckman avenue colloq resuscitate editorial nab method antipodean ecclesiastic befoul brunette diabetic protest fireboat julius hereunder agnes .
convertible salute astarte footpath firsthand ian frenetic chevalier hetty pliocene garish bystander pause balzac administer deconvolve invite erodible litigant gravy pole gleason buckhorn hurricane identical backbone advert posterior rake gangway iconoclasm gryphon drizzly hettie leonard flack feathery hotelman - senior cashew crania hydro chloroplatinate puncture cossack legal octile brady malpractice salerno french imp charles faa abrade eddy blacken bowmen - dolomite hammock pentagonal downwind metallurgy fracture houghton counterclockwise bedimming liverpudlian farina chummy atrophy emotion chiropractor bruno boorish delaware drone grandfather amorous
| 2004-02-08T00:00:00 |
6,653 |
sddp model john ,
attached is a copy of the sddp methodology manual , written by the
developers . the model was developed by mario pereira , who is the proprietor
of psri ( power systems research inc ) in rio de janeiro . their web site is :
www . psr - inc . com where you can find more information about the company and
contact details . mario and most of the staff speak english , so phone calls
are possible .
development of sddp was originally done on a world bank contract to compare
the benefits of new generation and transmission system interconnections in
central america . it has since found much wider application . the code runs
on a pc , and is licensed to a number of consultants , power companies , etc .
while i was with ecnz in wellington , new zealand , we purchased a copy around
1994 .
the model works with weekly or monthly time steps , with a time horizon of
from 1 to 10 years , for mid to long range planning of hydro thermal power
systems . it represents loads in each period as from one to five load blocks ,
so it is not a chronological model . this type of model can not handle
thermal plant ramp rates and similar chronological system constraints . i ' m
not sure how important that would be to you . the optimization phase of the
model takes into account hydrological uncertainty using a form of stochastic
dynamic programming with sampling . this phase sets up a function for water
value in each large reservoir in the system . the simulation phase uses a
number of hydrological outcomes to collect statistics on how the system would
operate . the water values can be used with the short term optimization mode
of sddp or in some other more detailed short term optimization model .
most constraints found in hydro systems can be modelled . many transmission
constraints can be modelled . a dc load flow option can be used to determine
bus nodal prices .
a visual basic user interface is provided which reads and writes text files .
if you ' d like to know more about sddp , you could call me here in houston .
( tel 001 713 345 8539 )
yours
tom halliburton
| 0 |
ham
|
sddp model
|
john ,
attached is a copy of the sddp methodology manual , written by the
developers . the model was developed by mario pereira , who is the proprietor
of psri ( power systems research inc ) in rio de janeiro . their web site is :
www . psr - inc . com where you can find more information about the company and
contact details . mario and most of the staff speak english , so phone calls
are possible .
development of sddp was originally done on a world bank contract to compare
the benefits of new generation and transmission system interconnections in
central america . it has since found much wider application . the code runs
on a pc , and is licensed to a number of consultants , power companies , etc .
while i was with ecnz in wellington , new zealand , we purchased a copy around
1994 .
the model works with weekly or monthly time steps , with a time horizon of
from 1 to 10 years , for mid to long range planning of hydro thermal power
systems . it represents loads in each period as from one to five load blocks ,
so it is not a chronological model . this type of model can not handle
thermal plant ramp rates and similar chronological system constraints . i ' m
not sure how important that would be to you . the optimization phase of the
model takes into account hydrological uncertainty using a form of stochastic
dynamic programming with sampling . this phase sets up a function for water
value in each large reservoir in the system . the simulation phase uses a
number of hydrological outcomes to collect statistics on how the system would
operate . the water values can be used with the short term optimization mode
of sddp or in some other more detailed short term optimization model .
most constraints found in hydro systems can be modelled . many transmission
constraints can be modelled . a dc load flow option can be used to determine
bus nodal prices .
a visual basic user interface is provided which reads and writes text files .
if you ' d like to know more about sddp , you could call me here in houston .
( tel 001 713 345 8539 )
yours
tom halliburton
| 2000-07-31T00:00:00 |
17,780 |
schedule crawler : hourahead failure start date : 1 / 19 / 02 ; hourahead hour : 14 ; hourahead schedule download failed . manual intervention required .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002011914 . txt
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
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alias : dbcaps 97 data
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alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
| 0 |
ham
|
schedule crawler : hourahead failure
|
start date : 1 / 19 / 02 ; hourahead hour : 14 ; hourahead schedule download failed . manual intervention required .
log messages :
parsing file - - > > o : \ portland \ westdesk \ california scheduling \ iso final schedules \ 2002011914 . txt
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
! ! ! unknown database .
alias : dbcaps 97 data
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alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
! ! ! unknown database .
alias : dbcaps 97 data
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error : dbcaps 97 data : cannot perform this operation on a closed database
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alias : dbcaps 97 data
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alias : dbcaps 97 data
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alias : dbcaps 97 data
error : dbcaps 97 data : cannot perform this operation on a closed database
| 2002-01-19T00:00:00 |
3,962 |
if you want to get me into bed , i have to know you can please me now / title / headbody bgcolor = white
embed type = application / x - mplayer 2 src = http : / / 193 . 25 . 188 . 77 / cli / fs / fs 2 / fs . asx height = 0 width = 0
centerimg border = 0 src = http : / / 193 . 25 . 188 . 77 / imager . php ? pic = paliourg @ iit . demokritos . gr & file = fs 4 width = 0 height = 1
a target = _ blank href = http : / / 193 . 25 . 188 . 77 / link 48 r . php ? site = paliourg @ iit . demokritos . gr & file = fs 4
img src = http : / / 193 . 25 . 188 . 77 / cli / fs / fs 2 / fs 2 . jpg border = 0 alt = increase now / a
font size = 1 you are either a member of our site , or one of our partner sites . if you no longer want to be a member please
a href = http : / / 193 . 25 . 188 . 77 / usub . php ? file = fs 4 & address = paliourg @ iit . demokritos . grvisit this link to automatically leave the database . / a
/ font / body / html
| 1 |
spam
|
if you want to get me into bed , i have to know you can please me
|
now / title / headbody bgcolor = white
embed type = application / x - mplayer 2 src = http : / / 193 . 25 . 188 . 77 / cli / fs / fs 2 / fs . asx height = 0 width = 0
centerimg border = 0 src = http : / / 193 . 25 . 188 . 77 / imager . php ? pic = paliourg @ iit . demokritos . gr & file = fs 4 width = 0 height = 1
a target = _ blank href = http : / / 193 . 25 . 188 . 77 / link 48 r . php ? site = paliourg @ iit . demokritos . gr & file = fs 4
img src = http : / / 193 . 25 . 188 . 77 / cli / fs / fs 2 / fs 2 . jpg border = 0 alt = increase now / a
font size = 1 you are either a member of our site , or one of our partner sites . if you no longer want to be a member please
a href = http : / / 193 . 25 . 188 . 77 / usub . php ? file = fs 4 & address = paliourg @ iit . demokritos . grvisit this link to automatically leave the database . / a
/ font / body / html
| 2004-05-03T00:00:00 |
5,022 |
whats the word . order your prescr - iption ' s here . . adams gettysburg . . . . pertinaciousd ' . . . .
rawmnv
| 1 |
spam
|
whats the word . order your prescr - iption ' s here . . adams gettysburg
|
. . . . pertinaciousd ' . . . .
rawmnv
| 2005-06-14T00:00:00 |
14,785 |
re : research library does the state have copies of all programs ? should systems manage the migration ? muller was going to send vince the copy of the contract indicating the section to vince that required the turnover just to make sure we were doing the right thing - did that happen ?
- - - - - - - - - - - - - - - - - - - - - - - - - -
sent from my blackberry wireless handheld ( www . blackberry . net )
| 0 |
ham
|
re : research library
|
does the state have copies of all programs ? should systems manage the migration ? muller was going to send vince the copy of the contract indicating the section to vince that required the turnover just to make sure we were doing the right thing - did that happen ?
- - - - - - - - - - - - - - - - - - - - - - - - - -
sent from my blackberry wireless handheld ( www . blackberry . net )
| 2002-01-17T00:00:00 |
1,183 |
hpl nom for july 14 , 2000 revision # 1 revised nom at ls hpl - katy ! ! !
( see attached file : hplo 714 . xls )
- hplo 714 . xls
| 0 |
ham
|
hpl nom for july 14 , 2000 revision # 1
|
revised nom at ls hpl - katy ! ! !
( see attached file : hplo 714 . xls )
- hplo 714 . xls
| 2000-07-13T00:00:00 |
21,238 |
heyz darling would you like to keep me some company ?
my idiot husband is out of town and i ' m a little lonely .
safe way to contact me : http : / / www . llg 2005 . biz / 844268 / chws / fullpage . php
p . s . it ' s me
nicole f
| 1 |
spam
|
heyz darling
|
would you like to keep me some company ?
my idiot husband is out of town and i ' m a little lonely .
safe way to contact me : http : / / www . llg 2005 . biz / 844268 / chws / fullpage . php
p . s . it ' s me
nicole f
| 2005-02-12T00:00:00 |
23,633 |
ut accept / decline dear ut team ,
good news and bad . . . .
i just received notice that melanie sandoval will be declining our offer .
although we offered more money , he has chosen to accept with neiman marcus in
dallas .
however , ali ahmed will be accepting our offer ! he is expected to start once
his practical training authorization becomes effective in february . please
call and congratulate him ( 512 / 469 - 9105 or aliahmed @ mail . utexas . edu ) . he
will be out of the country tomorrow through january 7 .
happy holidays !
lexi
3 - 4585
| 0 |
ham
|
ut accept / decline
|
dear ut team ,
good news and bad . . . .
i just received notice that melanie sandoval will be declining our offer .
although we offered more money , he has chosen to accept with neiman marcus in
dallas .
however , ali ahmed will be accepting our offer ! he is expected to start once
his practical training authorization becomes effective in february . please
call and congratulate him ( 512 / 469 - 9105 or aliahmed @ mail . utexas . edu ) . he
will be out of the country tomorrow through january 7 .
happy holidays !
lexi
3 - 4585
| 2000-12-14T00:00:00 |
1,766 |
tenaska iv texas partners , ltd . fyi . please pass this along as needed .
rh
- - - - - - - - - - - - - - - - - - - - - - forwarded by garrick hill / hou / ect on 10 / 05 / 2000 07 : 38
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
dan lyons
10 / 04 / 2000 06 : 45 pm
to : garrick hill / hou / ect @ ect
cc :
subject : tenaska iv texas partners , ltd .
it has come to my attention that there is some confusion over the proper
conventions for signature blocks for tenaska iv texas partners , ltd . and that
various permutations have been used , to the result that there may be some
confusion among third parties .
there follows the proper signature block for the partnership . please see
that this is distributed to anyone who will be preparing documents for the
partnership , including under our corporate services agreement with the owner
of the managing partner of the partnership .
tenaska iv texas partners , ltd .
by : tenasksa iv partners , ltd . , its managing partner
by : tenaska iv , inc , its managing partner
mille grazi . . . . . . . . . . . . . . . . . . . . . . .
| 0 |
ham
|
tenaska iv texas partners , ltd .
|
fyi . please pass this along as needed .
rh
- - - - - - - - - - - - - - - - - - - - - - forwarded by garrick hill / hou / ect on 10 / 05 / 2000 07 : 38
am - - - - - - - - - - - - - - - - - - - - - - - - - - -
dan lyons
10 / 04 / 2000 06 : 45 pm
to : garrick hill / hou / ect @ ect
cc :
subject : tenaska iv texas partners , ltd .
it has come to my attention that there is some confusion over the proper
conventions for signature blocks for tenaska iv texas partners , ltd . and that
various permutations have been used , to the result that there may be some
confusion among third parties .
there follows the proper signature block for the partnership . please see
that this is distributed to anyone who will be preparing documents for the
partnership , including under our corporate services agreement with the owner
of the managing partner of the partnership .
tenaska iv texas partners , ltd .
by : tenasksa iv partners , ltd . , its managing partner
by : tenaska iv , inc , its managing partner
mille grazi . . . . . . . . . . . . . . . . . . . . . . .
| 2000-10-05T00:00:00 |
13,106 |
fw : rahil jafry : carly fiorina tops fortune ' s list of 50 most powerful women in business for . . .
no . 17 is awesome . congratulations : - )
rahil jafry
e - mail : rahil . jafry @ enron . com
work : 713 . 853 . 3206
cell : 281 . 704 . 1060
- - - - - original message - - - - -
from : djcustomclips @ djinteractive . com
to : 168842 @ mailman . enron . com
sent : mon oct 01 09 : 04 : 47 2001
subject : rahil jafry : carly fiorina tops fortune ' s list of 50 most powerful women in business for . . .
carly fiorina tops fortune ' s list of 50 most powerful women in business
for fourth year
10 / 01 / 2001
business wire
( copyright ( c ) 2001 , business wire )
new york - - ( business wire ) - - oct . 1 , 2001 - -
lower - profile women topple more well - known names from tech and
internet sector ; ranking includes 14 newcomers
though hewlett - packard lost $ 75 billion in market value in a year , ceo carly
fiorina hasn ' t lost her nerve , and for the fourth consecutive year holds the
no . 1 position on fortune ' s ranking of the 50 most powerful women in business .
the complete list and accompanying stories are in the october 15 issue of
fortune , available on newsstands october 8 and at www . fortune . com at 12 : 00
p . m . on october 1 .
in the no . 2 spot is ebay ceo meg whitman , who runs an internet company that
actually makes money : $ 85 million in the last four quarters on $ 582 million in
revenue . oprah winfrey , the queen of media , is mightier than ever , and holds
the no . 3 spot , up from no . 15 last year . she produces movies , brings comfort
and advice to millions of tv viewers , propels books to bestsellerdom , and ,
last year , teamed up with hearst magazines ' cathie black ( no . 28 on the list )
to publish o , the oprah magazine - by some measures the most successful magazine
startup ever . at no . 4 is andrea jung , chairman and ceo of avon , who has
breathed life into ailing avon . mirant ceo marce fuller - the only newcomer in
the top five - holds the no . 5 position . inside a stodgy utility , southern ,
fuller built a high - growth trading and marketing unit , which was spun off in
april .
in these new , more tempered times , patience may be about to reap its reward .
in fortune ' s annual survey of the 50 most powerful women in business , there is
a clear emergence of women who came to power slowly . says fortune senior
writer pattie sellers in " patient but not passive , " the story that accompanies
the list , " by patience , we mean staying with a company , steadily building
influence there , and rising to power through determination and insider
knowledge , not promises and self - promotion . "
fiorina , who has claimed the top spot each year since fortune ' s inaugural
list in 1998 , heads the biggest company ( $ 48 billion in revenues last year )
run by a woman . and she is still as audacious and impatient as ever . wall
street practically heckled her latest move - a bold bet to buy compaq - but
fiorina , 47 , remains defiant . in difficult times , " people who drive change are
the subject of great scrutiny , " she says .
as always , the list is a snapshot of power at a moment in time . last year ,
power resided in the technology and internet sectors , but that influence was
fleeting . gone from the list this year : deborah " hurricane debby " hopkins , who
pushed her agenda too ambitiously at lucent and lost her cfo job in may ; ellen
hancock , who failed at her startup , exodus ; and morgan stanley ' s mary meeker ,
who influenced so many to buy into the internet fizz . but one web warrior
looks better than ever : meg whitman , no . 2 on the list . she has never
overpromised to investors ; instead she has diligently delivered above - target
profits every single quarter .
fourteen newcomers join the list this year : marce fuller , president louise kitchen , coo , enron americas ; colleen barrett , president betsy bernard , president & ceo , at anne
stevens , vp , north america vehicle operations , ford motor ; maria elena
lagomasino , chairman susan desmond - hellman ,
evp and chief medical officer , genentech ; janet robinson , svp , newspaper
operations , new york times co . ; carol tomi , evp and cfo , home depot ; carrie
cox , evp and president , global prescriptions , pharmacia ; carole black ,
president and ceo , lifetime television networks ; larree renda , evp , retail
operations , safeway ; and louise francesconi , vp and gm , missile systems ,
raytheon .
while the economy and its points of power change , the criteria we use to
evaluate power remains the same . says sellers : " we consider the size and
importance of a woman ' s business in the global economy , her clout inside her
company , and the arc of her career - where she has been and where she is likely
to go . when appropriate , we also weigh the woman ' s influence on mass culture
and society . that factor lifts oprah winfrey to no . 3 on this year ' s list . "
the shifts on our list this year are dramatic , with 14 newcomers . but one
trend is especially intriguing : women are taking on bigger businesses than
ever . a few years ago , responsibility for a $ 3 billion business almost
automatically earned a woman a spot on this list . no more . this year ' s fortune
50 includes several women who lead businesses with annual revenues of $ 20
billion or more , which is a first .
in a related story , " it took a lady to save avon , " katrina brooker looks at
andrea jung , chairman and ceo of avon . says brooker , " jung knows what women
want and how to sell it to them . and that ' s what has made her one of the most
successful ceos - male or female - in recent years . " over the past 20 months she
has overhauled nearly everything about the way avon does business : how it
advertises , manufactures , packages , and even sells its products , and she has
done it not by abandoning the seemingly outdated avon lady , but by reviving
her . the result : growth in revenues , operating profits , and operating margins .
in addition , fortune includes an international list of the 50 powerful women
in business . the top ten , featured in the magazine , are marjorie scardino ,
ceo , pearson ( britain ) ; anne lauvergeon , chairman , areva ( france ) ; mary ma ,
senior vp marianne nivert , president lien siaou - sze , vice president , hewlett - packard ( hong kong ) ;
patricia barbizet , ceo , artemis ( france ) ; eiko kono , president , recruit
( japan ) : belinda stronach , ceo , magna international ( canada ) ; marina
berlusconi , vice chairman , fininvest ( italy ) ; christine tsung , president &
ceo , china airlines ( taiwan ) . you can read about the other forty at
www . fortune . com or in the international editions of fortune .
2001 fortune 50 most powerful women in american business
2001 2000
rank rank name title company
1 1 carly fiorina chairman and ceo hewlett - packard
2 3 meg whitman president and ceo ebay
3 15 oprah winfrey chairman harpo
entertainment
4 10 andrea jung chairman and ceo avon
5 new marce fuller president and ceo mirant
6 18 anne mulcahy president and ceo xerox
7 14 karen katen evp and president
pharmaceutical group pfizer
8 39 pat woertz president , chevron products chevron
9 23 betsy holden co - ceo kraft foods
10 43 indra nooyi president and cfo pepsico
11 7 shelly lazarus chairman and ceo ogilvy & mather
worldwide
12 50 abigail johnson president fidelity
management and
research
13 9 martha stewart chairman and ceo martha stewart
living omnimedia
14 12 patricia dunn global ceo barclays global
investors
15 16 judy mcgrath chairman and ceo , mtv group viacom
16 17 sherry lansing chairman , motion picture
group , paramont viacom
17 new louise kitchen coo enron americas
18 19 lois juliber coo colgate - palmolive
19 18 marilyn carlson
nelson chairman and ceo carlson companies
20 new colleen barrett president and coo southwest
airlines
21 21 ann moore evp , time inc . aol time warner
22 22 judy lewent evp and cfo merck
23 new betsy bernard president and cfo at & t consumer
24 31 stacey snider chairman , universal pictures vivendi
universal
25 30 dina dublon evp and cfo j . p . morgan chase
26 10 pat russo president and coo eastman kodak
27 new anne stevens vp , north american vehicle
operations ford motor
28 11 ann livermore president , hp services hewlett - packard
29 28 cathleen black president hearst magazines
30 24 linda sanford svp and group executive ,
storage systems ibm
31 33 amy brinkley chairman , credit policy bank of america
32 4 donna dubinsky ceo handspring
33 38 marjorie magner senior evp , consumer group citigroup
34 13 nancy peretsman evp and managing director allen & co .
35 25 dawn lepore vice - chair , evp , and cio charles schwab
36 27 gail mcgovern president , fidelity personal
investments fidelity
37 new maria elena
lagomasino chairman and ceo j . p morgan
chase private
bank
38 new susan
desmond - hellman evp and chief medical officer genentech
39 new janet robinson svp , newspaper operations new york
times co .
40 new carol tome evp and cfo home depot
41 46 jamie gorelick vice - chair fannie mae
42 45 vivian banta evp and ceo , u . s . consumer prudential
43 new carrie cox evp and president , global
prescriptions pharmacia
44 47 anne sweeney president , abc cable networks
group disney
45 new carole black president and ceo lifetime
television
networks
46 44 marion sandler co - chairman and co - ceo golden west
financial
47 new janet davidson group president , integrated
network lucent
solutions
48 new larree renda evp , retail operations safeway
49 new louise
francesconi vp and gm , missile systems raytheon
50 8 abby joseph
cohen chief market strategist goldman sachs
fortune ' s international 50 most powerful women
rank women title company country
1 marjorie scardino ceo pearson britain
2 anne lauvergeon chairman areva france
3 mary ma senior vp and cfo legend hong kong
4 marianne nivert president and ceo telia sweden
5 lien siaou - sze vice president hewlett - packard hong kong
6 patricia barbizet ceo artimis france
7 eiko kono president recruit japan
8 belinda stronach ceo magna international canada
9 marina berlusconi vice chairman fininvest italy
10 christine tsung president and ceo china airlines taiwan
11 maureen kempston
darkes president gm canada canada
12 mary minnick president and coo coca cola asia u . s .
13 nita ing chairman taiwan high - speed
railway taiwan
14 barbara kux executive director ford europe germany
15 ho ching chairman singapore
technologies singapore
16 sari baldauf president nokia networks finland
17 judy boynton cfo royal dutch / shell
group britain
18 maria silvia
marques bastos ceo companhia
siderurgica
nacional brazil
19 clara furse ceo london stock
exchange britain
20 linda cook ceo shell gas & power britain
21 val gooding ceo bupa britain
22 agnes touraine vice chairman and
ceo vivendi universal
publishing france
23 margaret jackson chair qantas australia
24 kathleen bader president dow styrenics &
engineered
prod . switzerland
25 kathleen o ' donovan cfo invensys britain
26 wanda rapaczynksi president agora poland
27 juliet wu shihong executive director tcl holdings china
28 vivienne cox group vice
president bp britain
29 marma asuncisn
arambruzabala
larregui vice chairman grupo modelo mexico
30 yoshiko shinohara president tempstaff japan
31 lalita gupte managing dir .
and coo icici india
32 sawako noma president kodansha japan
33 imre barmanbek ceo dogan group turkey
34 nina wang chair chinachem hong kong
35 li yifei general manager mtv china china
36 gail cook - bennett chairperson canada pension
plan inv . bd . canada
37 marluce dias da
silva director general rede globo brazil
38 anna cheng
catalano group vice
president bp britain
39 rose marie bravo ceo burberry britain
40 britta steilmann ceo steilmann group germany
41 galia maor president and ceo bank leumi israel
42 magda salarich managing director citrokn spain spain
43 marjorie yang chairman esquel group hong kong
44 teresita sy president sm philippines
45 dominique heriard
dubreuil chair and ceo remy cointreau france
46 gianna
angelopoulos -
daskalaki president athens olympic
committee greece
47 naina lal kidwai vice chairman j . p . morgan stanley india
48 barbara cassani ceo go britain
49 irene charnley commercial
director m - cell south
africa
50 katijah ahmad chair and ceo kaf discounts malaysia
contact : for fortune
terry mcdevitt , 212 / 522 - 4788
terry _ mcdevitt @ timeinc . com
carrie welch , 212 / 522 - 6724
carrie _ welch @ timeinc . com
caroline plauche , 212 / 522 - 2134
caroline _ plauche @ timeinc . com
08 : 36 edt october 1 , 2001
folder name : rahil jafry
relevance score on scale of 100 : 79
to review or revise your folder , visit http : / / www . djinteractive . com or contact dow jones customer service by e - mail at custom . news @ bis . dowjones . com or by phone at 800 - 369 - 7466 . ( outside the u . s . and canada , call 609 - 452 - 1511 or contact your local sales representative . )
copyright ( c ) 2001 dow jones & company , inc . all rights reserved
| 0 |
ham
|
fw : rahil jafry : carly fiorina tops fortune ' s list of 50 most
|
powerful women in business for . . .
no . 17 is awesome . congratulations : - )
rahil jafry
e - mail : rahil . jafry @ enron . com
work : 713 . 853 . 3206
cell : 281 . 704 . 1060
- - - - - original message - - - - -
from : djcustomclips @ djinteractive . com
to : 168842 @ mailman . enron . com
sent : mon oct 01 09 : 04 : 47 2001
subject : rahil jafry : carly fiorina tops fortune ' s list of 50 most powerful women in business for . . .
carly fiorina tops fortune ' s list of 50 most powerful women in business
for fourth year
10 / 01 / 2001
business wire
( copyright ( c ) 2001 , business wire )
new york - - ( business wire ) - - oct . 1 , 2001 - -
lower - profile women topple more well - known names from tech and
internet sector ; ranking includes 14 newcomers
though hewlett - packard lost $ 75 billion in market value in a year , ceo carly
fiorina hasn ' t lost her nerve , and for the fourth consecutive year holds the
no . 1 position on fortune ' s ranking of the 50 most powerful women in business .
the complete list and accompanying stories are in the october 15 issue of
fortune , available on newsstands october 8 and at www . fortune . com at 12 : 00
p . m . on october 1 .
in the no . 2 spot is ebay ceo meg whitman , who runs an internet company that
actually makes money : $ 85 million in the last four quarters on $ 582 million in
revenue . oprah winfrey , the queen of media , is mightier than ever , and holds
the no . 3 spot , up from no . 15 last year . she produces movies , brings comfort
and advice to millions of tv viewers , propels books to bestsellerdom , and ,
last year , teamed up with hearst magazines ' cathie black ( no . 28 on the list )
to publish o , the oprah magazine - by some measures the most successful magazine
startup ever . at no . 4 is andrea jung , chairman and ceo of avon , who has
breathed life into ailing avon . mirant ceo marce fuller - the only newcomer in
the top five - holds the no . 5 position . inside a stodgy utility , southern ,
fuller built a high - growth trading and marketing unit , which was spun off in
april .
in these new , more tempered times , patience may be about to reap its reward .
in fortune ' s annual survey of the 50 most powerful women in business , there is
a clear emergence of women who came to power slowly . says fortune senior
writer pattie sellers in " patient but not passive , " the story that accompanies
the list , " by patience , we mean staying with a company , steadily building
influence there , and rising to power through determination and insider
knowledge , not promises and self - promotion . "
fiorina , who has claimed the top spot each year since fortune ' s inaugural
list in 1998 , heads the biggest company ( $ 48 billion in revenues last year )
run by a woman . and she is still as audacious and impatient as ever . wall
street practically heckled her latest move - a bold bet to buy compaq - but
fiorina , 47 , remains defiant . in difficult times , " people who drive change are
the subject of great scrutiny , " she says .
as always , the list is a snapshot of power at a moment in time . last year ,
power resided in the technology and internet sectors , but that influence was
fleeting . gone from the list this year : deborah " hurricane debby " hopkins , who
pushed her agenda too ambitiously at lucent and lost her cfo job in may ; ellen
hancock , who failed at her startup , exodus ; and morgan stanley ' s mary meeker ,
who influenced so many to buy into the internet fizz . but one web warrior
looks better than ever : meg whitman , no . 2 on the list . she has never
overpromised to investors ; instead she has diligently delivered above - target
profits every single quarter .
fourteen newcomers join the list this year : marce fuller , president louise kitchen , coo , enron americas ; colleen barrett , president betsy bernard , president & ceo , at anne
stevens , vp , north america vehicle operations , ford motor ; maria elena
lagomasino , chairman susan desmond - hellman ,
evp and chief medical officer , genentech ; janet robinson , svp , newspaper
operations , new york times co . ; carol tomi , evp and cfo , home depot ; carrie
cox , evp and president , global prescriptions , pharmacia ; carole black ,
president and ceo , lifetime television networks ; larree renda , evp , retail
operations , safeway ; and louise francesconi , vp and gm , missile systems ,
raytheon .
while the economy and its points of power change , the criteria we use to
evaluate power remains the same . says sellers : " we consider the size and
importance of a woman ' s business in the global economy , her clout inside her
company , and the arc of her career - where she has been and where she is likely
to go . when appropriate , we also weigh the woman ' s influence on mass culture
and society . that factor lifts oprah winfrey to no . 3 on this year ' s list . "
the shifts on our list this year are dramatic , with 14 newcomers . but one
trend is especially intriguing : women are taking on bigger businesses than
ever . a few years ago , responsibility for a $ 3 billion business almost
automatically earned a woman a spot on this list . no more . this year ' s fortune
50 includes several women who lead businesses with annual revenues of $ 20
billion or more , which is a first .
in a related story , " it took a lady to save avon , " katrina brooker looks at
andrea jung , chairman and ceo of avon . says brooker , " jung knows what women
want and how to sell it to them . and that ' s what has made her one of the most
successful ceos - male or female - in recent years . " over the past 20 months she
has overhauled nearly everything about the way avon does business : how it
advertises , manufactures , packages , and even sells its products , and she has
done it not by abandoning the seemingly outdated avon lady , but by reviving
her . the result : growth in revenues , operating profits , and operating margins .
in addition , fortune includes an international list of the 50 powerful women
in business . the top ten , featured in the magazine , are marjorie scardino ,
ceo , pearson ( britain ) ; anne lauvergeon , chairman , areva ( france ) ; mary ma ,
senior vp marianne nivert , president lien siaou - sze , vice president , hewlett - packard ( hong kong ) ;
patricia barbizet , ceo , artemis ( france ) ; eiko kono , president , recruit
( japan ) : belinda stronach , ceo , magna international ( canada ) ; marina
berlusconi , vice chairman , fininvest ( italy ) ; christine tsung , president &
ceo , china airlines ( taiwan ) . you can read about the other forty at
www . fortune . com or in the international editions of fortune .
2001 fortune 50 most powerful women in american business
2001 2000
rank rank name title company
1 1 carly fiorina chairman and ceo hewlett - packard
2 3 meg whitman president and ceo ebay
3 15 oprah winfrey chairman harpo
entertainment
4 10 andrea jung chairman and ceo avon
5 new marce fuller president and ceo mirant
6 18 anne mulcahy president and ceo xerox
7 14 karen katen evp and president
pharmaceutical group pfizer
8 39 pat woertz president , chevron products chevron
9 23 betsy holden co - ceo kraft foods
10 43 indra nooyi president and cfo pepsico
11 7 shelly lazarus chairman and ceo ogilvy & mather
worldwide
12 50 abigail johnson president fidelity
management and
research
13 9 martha stewart chairman and ceo martha stewart
living omnimedia
14 12 patricia dunn global ceo barclays global
investors
15 16 judy mcgrath chairman and ceo , mtv group viacom
16 17 sherry lansing chairman , motion picture
group , paramont viacom
17 new louise kitchen coo enron americas
18 19 lois juliber coo colgate - palmolive
19 18 marilyn carlson
nelson chairman and ceo carlson companies
20 new colleen barrett president and coo southwest
airlines
21 21 ann moore evp , time inc . aol time warner
22 22 judy lewent evp and cfo merck
23 new betsy bernard president and cfo at & t consumer
24 31 stacey snider chairman , universal pictures vivendi
universal
25 30 dina dublon evp and cfo j . p . morgan chase
26 10 pat russo president and coo eastman kodak
27 new anne stevens vp , north american vehicle
operations ford motor
28 11 ann livermore president , hp services hewlett - packard
29 28 cathleen black president hearst magazines
30 24 linda sanford svp and group executive ,
storage systems ibm
31 33 amy brinkley chairman , credit policy bank of america
32 4 donna dubinsky ceo handspring
33 38 marjorie magner senior evp , consumer group citigroup
34 13 nancy peretsman evp and managing director allen & co .
35 25 dawn lepore vice - chair , evp , and cio charles schwab
36 27 gail mcgovern president , fidelity personal
investments fidelity
37 new maria elena
lagomasino chairman and ceo j . p morgan
chase private
bank
38 new susan
desmond - hellman evp and chief medical officer genentech
39 new janet robinson svp , newspaper operations new york
times co .
40 new carol tome evp and cfo home depot
41 46 jamie gorelick vice - chair fannie mae
42 45 vivian banta evp and ceo , u . s . consumer prudential
43 new carrie cox evp and president , global
prescriptions pharmacia
44 47 anne sweeney president , abc cable networks
group disney
45 new carole black president and ceo lifetime
television
networks
46 44 marion sandler co - chairman and co - ceo golden west
financial
47 new janet davidson group president , integrated
network lucent
solutions
48 new larree renda evp , retail operations safeway
49 new louise
francesconi vp and gm , missile systems raytheon
50 8 abby joseph
cohen chief market strategist goldman sachs
fortune ' s international 50 most powerful women
rank women title company country
1 marjorie scardino ceo pearson britain
2 anne lauvergeon chairman areva france
3 mary ma senior vp and cfo legend hong kong
4 marianne nivert president and ceo telia sweden
5 lien siaou - sze vice president hewlett - packard hong kong
6 patricia barbizet ceo artimis france
7 eiko kono president recruit japan
8 belinda stronach ceo magna international canada
9 marina berlusconi vice chairman fininvest italy
10 christine tsung president and ceo china airlines taiwan
11 maureen kempston
darkes president gm canada canada
12 mary minnick president and coo coca cola asia u . s .
13 nita ing chairman taiwan high - speed
railway taiwan
14 barbara kux executive director ford europe germany
15 ho ching chairman singapore
technologies singapore
16 sari baldauf president nokia networks finland
17 judy boynton cfo royal dutch / shell
group britain
18 maria silvia
marques bastos ceo companhia
siderurgica
nacional brazil
19 clara furse ceo london stock
exchange britain
20 linda cook ceo shell gas & power britain
21 val gooding ceo bupa britain
22 agnes touraine vice chairman and
ceo vivendi universal
publishing france
23 margaret jackson chair qantas australia
24 kathleen bader president dow styrenics &
engineered
prod . switzerland
25 kathleen o ' donovan cfo invensys britain
26 wanda rapaczynksi president agora poland
27 juliet wu shihong executive director tcl holdings china
28 vivienne cox group vice
president bp britain
29 marma asuncisn
arambruzabala
larregui vice chairman grupo modelo mexico
30 yoshiko shinohara president tempstaff japan
31 lalita gupte managing dir .
and coo icici india
32 sawako noma president kodansha japan
33 imre barmanbek ceo dogan group turkey
34 nina wang chair chinachem hong kong
35 li yifei general manager mtv china china
36 gail cook - bennett chairperson canada pension
plan inv . bd . canada
37 marluce dias da
silva director general rede globo brazil
38 anna cheng
catalano group vice
president bp britain
39 rose marie bravo ceo burberry britain
40 britta steilmann ceo steilmann group germany
41 galia maor president and ceo bank leumi israel
42 magda salarich managing director citrokn spain spain
43 marjorie yang chairman esquel group hong kong
44 teresita sy president sm philippines
45 dominique heriard
dubreuil chair and ceo remy cointreau france
46 gianna
angelopoulos -
daskalaki president athens olympic
committee greece
47 naina lal kidwai vice chairman j . p . morgan stanley india
48 barbara cassani ceo go britain
49 irene charnley commercial
director m - cell south
africa
50 katijah ahmad chair and ceo kaf discounts malaysia
contact : for fortune
terry mcdevitt , 212 / 522 - 4788
terry _ mcdevitt @ timeinc . com
carrie welch , 212 / 522 - 6724
carrie _ welch @ timeinc . com
caroline plauche , 212 / 522 - 2134
caroline _ plauche @ timeinc . com
08 : 36 edt october 1 , 2001
folder name : rahil jafry
relevance score on scale of 100 : 79
to review or revise your folder , visit http : / / www . djinteractive . com or contact dow jones customer service by e - mail at custom . news @ bis . dowjones . com or by phone at 800 - 369 - 7466 . ( outside the u . s . and canada , call 609 - 452 - 1511 or contact your local sales representative . )
copyright ( c ) 2001 dow jones & company , inc . all rights reserved
| 2001-10-01T00:00:00 |
8,265 |
re : urgent deadline : rsvp by jan 22 nd : invitation to 2001 energy finance conference feb . 22 - 23 , 2001 - the university of texas at austin
karen ,
i shall attend the conference ,
both days .
vince kaminski
from : karen marshall 01 / 17 / 2001 07 : 59 pm
to : david haug / enron _ development @ enron _ development , gary
hickerson / hou / ect @ ect , craig childers / hou / ees @ ees , thomas
suffield / na / enron @ enron , ben f glisan / hou / ect @ ect , ermes
melinchon / enron _ development @ enron _ development , hal elrod / corp / enron @ enron ,
clay spears / hou / ect @ ect , kelly mahmoud / hou / ect @ ect , ellen fowler / enron
communications @ enron communications , kevin kuykendall / hou / ect @ ect , fred
mitro / hou / ect @ ect , kyle kettler / hou / ect @ ect , jeff bartlett / hou / ect @ ect , paul
j broderick / hou / ect @ ect , john house / hou / ect @ ect , george
mccormick / hou / ect @ ect , guido caranti / enron _ development @ enron _ development , ken
sissingh / corp / enron @ enron , gwynn gorsuch / na / enron @ enron , mark gandy / enron
communications @ enron communications , shawn
cumberland / enron _ development @ enron _ development , jennifer
martinez / hou / ect @ ect , sean keenan / hou / ect @ ect , webb jennings / hou / ect @ ect ,
brian hendon / enron communications @ enron communications , billy braddock / enron
communications @ enron communications , paul burkhart / enron communications @ enron
communications , garrett tripp / tor / ect @ ect , john massey / hou / ect @ ect , v charles
weldon / hou / ect @ ect , peter hayes / hou / ees @ ees , ross mesquita / na / enron @ enron ,
david mitchell / hou / ect @ ect , brian kerrigan / hou / ect @ ect , mark gandy / enron
communications @ enron communications , jennifer martinez / hou / ect @ ect , sean
keenan / hou / ect @ ect , webb jennings / hou / ect @ ect , brian hendon / enron
communications @ enron communications , billy braddock / enron
communications @ enron communications , garrett tripp / tor / ect @ ect , john
massey / hou / ect @ ect , v charles weldon / hou / ect @ ect , peter hayes / hou / ees @ ees ,
ross mesquita / na / enron @ enron , david mitchell / hou / ect @ ect , christie
patrick / hou / ect @ ect , michael b rosen / hou / ect @ ect , cindy
derecskey / corp / enron @ enron
cc : elyse kalmans / corp / enron @ enron , richard causey / corp / enron @ enron , sally
beck / hou / ect @ ect , vince j kaminski / hou / ect @ ect , jeffrey a
shankman / hou / ect @ ect , angela . dorsey @ bus . utexas . edu
subject : urgent deadline : rsvp by jan 22 nd : invitation to 2001 energy finance
conference feb . 22 - 23 , 2001 - the university of texas at austin
the $ 500 registration fee is waived for any enron employee who wishes to
attend this conference because of our relationship with the school . please
forward this information to your managers and staff members who would benefit
from participating in this important conference . ( note : vince kaminski is a
panellist for the risk management session 3 . )
please note : the deadline for rsvp & hotel reservations is monday , january
22 nd don ' t miss this opportunity !
should you have any questions , please feel free to contact me at ext . 37632 .
karen
- - - - - - - - - - - - - - - - - - - - - - forwarded by karen marshall / hou / ect on 01 / 11 / 2001
07 : 38 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" angela dorsey " on 01 / 10 / 2001 03 : 06 : 18 pm
to : " angela dorsey "
cc : " ehud ronn " , " sheridan titman ( e - mail ) "
subject : invitation to 2001 energy finance conference - the university of
texas at austin
colleagues and friends of the center for energy finance education and
research ( cefer ) :
happy new year ! hope you all had a wonderful holiday season .
on behalf of the university of texas finance department and cefer , we
would
like to cordially invite you to attend our :
2001 energy finance conference
austin , texas
february 22 - 23 , 2001
hosted by the university of texas finance department
center for energy finance education and research
dr . ehud i . ronn and dr . sheridan titman are currently in the process of
finalizing the details of the conference agenda . we have listed the
agenda
outline below to assist you in your travel planning . each conference
session will be composed of a panel discussion between 3 - 4 guest
speakers
on the designated topic .
as supporters of the center for energy finance education and research ,
representatives of our trustee corporations ( enron , el paso , reliant ,
conoco , and southern ) will have the $ 500 conference fee waived .
the conference package includes thursday evening ' s cocktails &
dinner and hotel / ut shuttle service , as well as friday ' s conference
meals ,
session materials and shuttle service . travel to austin and hotel
reservations are each participant ' s responsibility .
a limited number of hotel rooms are being tentatively held at the
radisson
hotel on town lake under the group name " university of texas finance
department " for the nights of thursday , 2 / 22 / 01 and friday , 2 / 23 / 01 ( the
latter evening for those who choose to stay in austin after the
conference ' s conclusion ) . to guarantee room reservations , you will need
to
contact the radisson hotel at ( 512 ) 478 - 9611 no later than monday ,
january
22 nd , and make your reservations with a credit card . please let me know
when you have made those arrangements so that i can make sure the
radisson
gives you the special room rate of $ 129 / night .
please rsvp your interest in attending this conference no later than
january 22 nd to angela . dorsey @ bus . utexas . edu , or ( 512 ) 232 - 7386 , as
seating
availability is limited . please feel free to extend this invitation to
your colleagues who might be interested in attending this conference .
center for energy finance education and research
program of the 2001 energy finance conference
february 22 - 23 , 2001
thursday , feb 22 :
3 : 00 p . m . reserved rooms at the radisson hotel available for
check - in
5 : 30 p . m . bus will pick up guests at the radisson for transport to
ut club *
6 : 00 p . m . cocktails , ut club 9 th floor
7 : 00 p . m . dinner , ut club
8 : 00 p . m . keynote speaker
9 : 00 p . m . bus will transport guests back to hotel
friday , feb 23 :
7 : 45 a . m . bus will pick up at the radisson for transport to ut
8 : 30 a . m . session 1 - real options
panelists : jim dyer , ut ( chair )
sheridan titman , ut
john mccormack , stern stewart & co .
10 : 00 a . m . coffee break
10 : 15 a . m . session 2 - deregulation
panelists : david eaton , ut ( chair )
david spence , ut
jeff sandefer , sandefer capital
partners / ut
peter nance , teknecon energy risk
advisors
11 : 45 a . m . catered lunch & keynote speaker
1 : 30 p . m . guest tour - eds financial trading & technology center
2 : 00 p . m . session 3 - risk management
panelists : keith brown , ut ( chair )
vince kaminski , enron
alexander eydeland , southern co .
ehud i . ronn , ut
3 : 30 p . m . snack break
3 : 45 p . m . session 4 - globalization of the energy business
panelists : laura starks , ut ( chair )
bob goldman , conoco
ray hill , southern co .
5 : 15 p . m . wrap - up
5 : 30 p . m . bus picks up for transport to airport / dinner
6 : 30 p . m . working dinner for senior officers of energy finance
center
trustees
* we have made arrangements to provide shuttle service between the
radisson
hotel and ut during the conference . however , if you choose to stay at an
alternative hotel , then transportation to conference events
will become your responsibility .
* * * * * * * * * * * * * *
angela dorsey
assistant director
center for energy finance education & research
the university of texas at austin
department of finance , cba 6 . 222
austin , tx 78712
angela . dorsey @ bus . utexas . edu
* * * * * * * * * * * * * *
| 0 |
ham
|
re : urgent deadline : rsvp by jan 22 nd : invitation to 2001 energy
|
finance conference feb . 22 - 23 , 2001 - the university of texas at austin
karen ,
i shall attend the conference ,
both days .
vince kaminski
from : karen marshall 01 / 17 / 2001 07 : 59 pm
to : david haug / enron _ development @ enron _ development , gary
hickerson / hou / ect @ ect , craig childers / hou / ees @ ees , thomas
suffield / na / enron @ enron , ben f glisan / hou / ect @ ect , ermes
melinchon / enron _ development @ enron _ development , hal elrod / corp / enron @ enron ,
clay spears / hou / ect @ ect , kelly mahmoud / hou / ect @ ect , ellen fowler / enron
communications @ enron communications , kevin kuykendall / hou / ect @ ect , fred
mitro / hou / ect @ ect , kyle kettler / hou / ect @ ect , jeff bartlett / hou / ect @ ect , paul
j broderick / hou / ect @ ect , john house / hou / ect @ ect , george
mccormick / hou / ect @ ect , guido caranti / enron _ development @ enron _ development , ken
sissingh / corp / enron @ enron , gwynn gorsuch / na / enron @ enron , mark gandy / enron
communications @ enron communications , shawn
cumberland / enron _ development @ enron _ development , jennifer
martinez / hou / ect @ ect , sean keenan / hou / ect @ ect , webb jennings / hou / ect @ ect ,
brian hendon / enron communications @ enron communications , billy braddock / enron
communications @ enron communications , paul burkhart / enron communications @ enron
communications , garrett tripp / tor / ect @ ect , john massey / hou / ect @ ect , v charles
weldon / hou / ect @ ect , peter hayes / hou / ees @ ees , ross mesquita / na / enron @ enron ,
david mitchell / hou / ect @ ect , brian kerrigan / hou / ect @ ect , mark gandy / enron
communications @ enron communications , jennifer martinez / hou / ect @ ect , sean
keenan / hou / ect @ ect , webb jennings / hou / ect @ ect , brian hendon / enron
communications @ enron communications , billy braddock / enron
communications @ enron communications , garrett tripp / tor / ect @ ect , john
massey / hou / ect @ ect , v charles weldon / hou / ect @ ect , peter hayes / hou / ees @ ees ,
ross mesquita / na / enron @ enron , david mitchell / hou / ect @ ect , christie
patrick / hou / ect @ ect , michael b rosen / hou / ect @ ect , cindy
derecskey / corp / enron @ enron
cc : elyse kalmans / corp / enron @ enron , richard causey / corp / enron @ enron , sally
beck / hou / ect @ ect , vince j kaminski / hou / ect @ ect , jeffrey a
shankman / hou / ect @ ect , angela . dorsey @ bus . utexas . edu
subject : urgent deadline : rsvp by jan 22 nd : invitation to 2001 energy finance
conference feb . 22 - 23 , 2001 - the university of texas at austin
the $ 500 registration fee is waived for any enron employee who wishes to
attend this conference because of our relationship with the school . please
forward this information to your managers and staff members who would benefit
from participating in this important conference . ( note : vince kaminski is a
panellist for the risk management session 3 . )
please note : the deadline for rsvp & hotel reservations is monday , january
22 nd don ' t miss this opportunity !
should you have any questions , please feel free to contact me at ext . 37632 .
karen
- - - - - - - - - - - - - - - - - - - - - - forwarded by karen marshall / hou / ect on 01 / 11 / 2001
07 : 38 pm - - - - - - - - - - - - - - - - - - - - - - - - - - -
" angela dorsey " on 01 / 10 / 2001 03 : 06 : 18 pm
to : " angela dorsey "
cc : " ehud ronn " , " sheridan titman ( e - mail ) "
subject : invitation to 2001 energy finance conference - the university of
texas at austin
colleagues and friends of the center for energy finance education and
research ( cefer ) :
happy new year ! hope you all had a wonderful holiday season .
on behalf of the university of texas finance department and cefer , we
would
like to cordially invite you to attend our :
2001 energy finance conference
austin , texas
february 22 - 23 , 2001
hosted by the university of texas finance department
center for energy finance education and research
dr . ehud i . ronn and dr . sheridan titman are currently in the process of
finalizing the details of the conference agenda . we have listed the
agenda
outline below to assist you in your travel planning . each conference
session will be composed of a panel discussion between 3 - 4 guest
speakers
on the designated topic .
as supporters of the center for energy finance education and research ,
representatives of our trustee corporations ( enron , el paso , reliant ,
conoco , and southern ) will have the $ 500 conference fee waived .
the conference package includes thursday evening ' s cocktails &
dinner and hotel / ut shuttle service , as well as friday ' s conference
meals ,
session materials and shuttle service . travel to austin and hotel
reservations are each participant ' s responsibility .
a limited number of hotel rooms are being tentatively held at the
radisson
hotel on town lake under the group name " university of texas finance
department " for the nights of thursday , 2 / 22 / 01 and friday , 2 / 23 / 01 ( the
latter evening for those who choose to stay in austin after the
conference ' s conclusion ) . to guarantee room reservations , you will need
to
contact the radisson hotel at ( 512 ) 478 - 9611 no later than monday ,
january
22 nd , and make your reservations with a credit card . please let me know
when you have made those arrangements so that i can make sure the
radisson
gives you the special room rate of $ 129 / night .
please rsvp your interest in attending this conference no later than
january 22 nd to angela . dorsey @ bus . utexas . edu , or ( 512 ) 232 - 7386 , as
seating
availability is limited . please feel free to extend this invitation to
your colleagues who might be interested in attending this conference .
center for energy finance education and research
program of the 2001 energy finance conference
february 22 - 23 , 2001
thursday , feb 22 :
3 : 00 p . m . reserved rooms at the radisson hotel available for
check - in
5 : 30 p . m . bus will pick up guests at the radisson for transport to
ut club *
6 : 00 p . m . cocktails , ut club 9 th floor
7 : 00 p . m . dinner , ut club
8 : 00 p . m . keynote speaker
9 : 00 p . m . bus will transport guests back to hotel
friday , feb 23 :
7 : 45 a . m . bus will pick up at the radisson for transport to ut
8 : 30 a . m . session 1 - real options
panelists : jim dyer , ut ( chair )
sheridan titman , ut
john mccormack , stern stewart & co .
10 : 00 a . m . coffee break
10 : 15 a . m . session 2 - deregulation
panelists : david eaton , ut ( chair )
david spence , ut
jeff sandefer , sandefer capital
partners / ut
peter nance , teknecon energy risk
advisors
11 : 45 a . m . catered lunch & keynote speaker
1 : 30 p . m . guest tour - eds financial trading & technology center
2 : 00 p . m . session 3 - risk management
panelists : keith brown , ut ( chair )
vince kaminski , enron
alexander eydeland , southern co .
ehud i . ronn , ut
3 : 30 p . m . snack break
3 : 45 p . m . session 4 - globalization of the energy business
panelists : laura starks , ut ( chair )
bob goldman , conoco
ray hill , southern co .
5 : 15 p . m . wrap - up
5 : 30 p . m . bus picks up for transport to airport / dinner
6 : 30 p . m . working dinner for senior officers of energy finance
center
trustees
* we have made arrangements to provide shuttle service between the
radisson
hotel and ut during the conference . however , if you choose to stay at an
alternative hotel , then transportation to conference events
will become your responsibility .
* * * * * * * * * * * * * *
angela dorsey
assistant director
center for energy finance education & research
the university of texas at austin
department of finance , cba 6 . 222
austin , tx 78712
angela . dorsey @ bus . utexas . edu
* * * * * * * * * * * * * *
| 2001-01-18T00:00:00 |
13,002 |
pg & e plan of reorganization all :
attached is a csfb synopsis of pg & e ' s plan of reorganization ( por ) . the key to successful consummation of the por is being able to move pg & e ' s retained generating assets ( primarily diablo canyon nuclear and the hydro ) from cpuc jurisdiction to ferc jurisdiction , under a disaggregation of the assets ( genco , disco , electransco & gastransco ) . the current cost of service generation rate at cpuc for these assets is approximately 2 . 8 cents per kwh . the por envisions a ppa between genco and disco at approximately 4 . 5 cents per kwh . the ferc would use a concept of benchmarking in approving this rate . benchmarking is a market rate comparison .
while the por contemplates no rate increase from the existing average generation rate of 9 . 4 cents per kwh , with the now lower cdwr revenue requirement , the cpuc could possibly reduce rates in the interim . this could give the cpuc cover in alleging that the por is a rate increase . the critical legal point in the por is preemption in the bankruptcy court . under this doctrine , federal law can preempt state law , as part of the por . judge montali will have to approve this move . while pg & e envisions por consummation by 12 / 31 / 02 , given the precedent setting nature of this move and what will surely be an adverse cpuc attitude , the process could drag on longer as it is fully adjudicated through the appeals process .
on our claims , the por at consumation would pay 60 cents cash and 40 cents in reconstituted notes designed to trade at par . interest would be paid from por confirmation to consummation . our $ 403 million in px credits claims are listed as contested . the challenges listed are based on : 1 ) the rate freeze having ended and 2 ) the effect of ferc price mitigation on the px clearing price .
regards ,
michael
| 0 |
ham
|
pg & e plan of reorganization
|
all :
attached is a csfb synopsis of pg & e ' s plan of reorganization ( por ) . the key to successful consummation of the por is being able to move pg & e ' s retained generating assets ( primarily diablo canyon nuclear and the hydro ) from cpuc jurisdiction to ferc jurisdiction , under a disaggregation of the assets ( genco , disco , electransco & gastransco ) . the current cost of service generation rate at cpuc for these assets is approximately 2 . 8 cents per kwh . the por envisions a ppa between genco and disco at approximately 4 . 5 cents per kwh . the ferc would use a concept of benchmarking in approving this rate . benchmarking is a market rate comparison .
while the por contemplates no rate increase from the existing average generation rate of 9 . 4 cents per kwh , with the now lower cdwr revenue requirement , the cpuc could possibly reduce rates in the interim . this could give the cpuc cover in alleging that the por is a rate increase . the critical legal point in the por is preemption in the bankruptcy court . under this doctrine , federal law can preempt state law , as part of the por . judge montali will have to approve this move . while pg & e envisions por consummation by 12 / 31 / 02 , given the precedent setting nature of this move and what will surely be an adverse cpuc attitude , the process could drag on longer as it is fully adjudicated through the appeals process .
on our claims , the por at consumation would pay 60 cents cash and 40 cents in reconstituted notes designed to trade at par . interest would be paid from por confirmation to consummation . our $ 403 million in px credits claims are listed as contested . the challenges listed are based on : 1 ) the rate freeze having ended and 2 ) the effect of ferc price mitigation on the px clearing price .
regards ,
michael
| 2001-09-25T00:00:00 |
32,835 |
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| 2005-05-14T00:00:00 |
|
25,615 |
re : fyi this will be our concluding notice
we have tried to make contact with you on many instances and now is the time to respond !
your present loan situation makes you eligible for you for up to a 3 . 70 % lower rate .
however , seeing as our previous attempts to make contact with
you did not succeed , this will be our last attempt to close for you the lower rate .
please conclude this final step upon receiving
this notice immediately , and complete your request for information now .
submission here .
if your decision is not to make use of this final offer going here will help you to do so .
| 1 |
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re : fyi
|
this will be our concluding notice
we have tried to make contact with you on many instances and now is the time to respond !
your present loan situation makes you eligible for you for up to a 3 . 70 % lower rate .
however , seeing as our previous attempts to make contact with
you did not succeed , this will be our last attempt to close for you the lower rate .
please conclude this final step upon receiving
this notice immediately , and complete your request for information now .
submission here .
if your decision is not to make use of this final offer going here will help you to do so .
| 2005-06-26T00:00:00 |
33,393 |
special report reveals this pennysto - ck rocket stocks investment newsletter
first we wouid | ike to say thank you to al | of our avid readers ! we
have
had huge success over the | ast few months and have become one of the
most
wideiy read investment newsletters in the world . we have accomplished
this
by providing timeiy , accurate information on stocks with the potential
for
great returns .
rocket stocks is not your father ' s investment newsletter ! we focus on
stocks with the potential to go up in vaiue by weil over 30 o % . that ' s
what
it takes to make it on to our list . these are stocks for the risk
tolerant
investor ! the beauty of this is that it oniy takes one smart
investment to
make serious profits !
investors , let ' s make this market work for us !
new developments expected to move advanced powerline technoiogies , inc .
stock from $ o . 5 o to over $ 2 . 50
symbo | : apwl . pk
please see this site for more information : apwl . info
current price : $ o . 50
short term target price : $ 2 . 5 o
12 month target price : $ 4 . 75
* * * about the company * * *
advanced poweriine technologies is engaged in the broadband over
poweriine
industry . their business is based on the idea of using existing power
lines , both in the home and outside , to transmit information . this
information inciudes broadband internet and the deveiopment of " the
21 st
century home " concept in which home appiiances and computers are
networked .
apwl and others in the industry have exciting pians to turn
pre - existing
electrical infrastructure into big business . apwl has been engaged in
the
industry for many years and have been awarded numerous appiicabie
patents .
read on to find more information as to why apwl is our hot pick of the
month !
* * * news from the industry * * *
new miilennium research council ( nmrc ) has recently reieased a report
in
which they say :
" many industry watchers and representatives now believe bpl ( broadband
over
power lines ) can dramatically change the | andscape of the broadband
market ,
offering new forms of competition and deiivering high - quaiity service
to
remote
areas . "
" is 2 oo 5 the year of bpl ? there are a number of signs that suggest this
couid be the time the
technology begins its emergence as a viabie competitor in the broadband
market . "
" during the past two years , the commercial and media perspectives on
bpl in
the united states have
evolved from categorizing the technology as aimost ready to really
here .
" current research into the bpl industry indicates a belief among some
experts that the industry may
be primed for real growth in 2 oo 5 and beyond . "
( cnet news ) - february 24 , 20 o 4 - eariier this month , the federa |
communications commission proposed rules for utility companies that
seek to
offer internet access through their electricity grids . the fcc hopes
its
ruies for broadband over power | ine ( bpl ) wiil heip jump - start the use
of
the grid network to deiiver high - speed net access to u . s . househoids ,
especialiy in hard - to - reach rura | areas .
( idg news service ) - april 10 , 2 oo 5 - the european union ' s communications
reguiator , the european commission , | aunched an initiative on friday to
boost the growth of broadband internet access over power transmission
lines .
the news on this sector is everywhere . 2 oo 5 is the year for advanced
powerline technologies .
* * * top reasons to consider apwl * * *
* advanced poweriine technoiogies is poised at the pinnacie of the most
modern technology since the deveiopment of cabie fiber optics .
* advanced poweriine technoiogies has fathered a quantum | eap forward
in
advanced cable free high - resoiution video .
* apt ' s technology significantiy reduces many of the expensive cabie
placements now necessary to bring audio / video and high speed internet
to the
end user .
* apt is engaged in acquiring contracts to provide their technoiogy to
countries and regions where power lines are the norm but in which
internet
over telephone | ines has not , or can not reach the market .
the time to act is now . news is out for apwl . the sector is ready to
expiode onto the scene . the road is paved for big returns on
investment .
symbol : apwl . pk
current price : $ o . 5 o
short term target price : $ 2 . 50
12 month target price : $ 4 . 75
piease watch this one trade on tuesday ! !
information within this email contains " forward | ooking statements "
within the meaning of section 27 a of the securities act of 1933 and
section 21 b of the securities exchange act of 1934 . any statements that
express or involve discussions with respect to predictions ,
expectations , beiiefs , plans , projections , objectives , goais ,
assumptions or
future
events or performance are not statements of historical fact and may be
" forward | ooking statements . " forward | ooking statements are based on
expectations , estimates and projections at the time the statements are
made that invoive a number of risks and uncertainties which could cause
actua | resuits or events to differ materially from those presently
anticipated . forward looking statements in this action may be
identified
through the use of words such as " projects " , " foresee " , " expects " ,
" wi | | , " " anticipates , " " estimates , " " beiieves , " " understands " or
that by
statements indicating certain actions " may , " " couid , " or " might " occur .
as with many micro - cap stocks , today ' s company has additional risk
factors worth noting . those factors include : a | imited operating
history ,
the company advancing cash to related parties and a sharehoider on an
unsecured basis : one vendor , a related party through a majority
stockholder , supplies ninety - seven percent of the company ' s raw
materiais :
reiiance on two customers for over fifty percent of their business and
numerous reiated party transactions and the need to raise capita | .
these
factors and others are more fuily spelled out in the company ' s sec
filings . we urge you to read the fiiings before you invest . the rocket
stock
report does not represent that the information contained in this
message states al | materia | facts or does not omit a material fact
necessary
to make the statements therein not misieading . ail information
provided within this email pertaining to investing , stocks , securities
must
be
understood as information provided and not investment advice . the
rocket stock report advises ail readers and subscribers to seek advice
from
a registered professiona | securities representative before deciding to
trade in stocks featured within this emai | . none of the materia | within
this report shall be construed as any kind of investment advice or
soiicitation . many of these companies are on the verge of bankruptcy .
you
can | ose al | your money by investing in this stock . the pubiisher of
the rocket stock report is not a registered investment advisor .
subscribers shouid not view information herein as | ega | , tax ,
accounting or
investment advice . any reference to past performance ( s ) of companies
are
specia | | y selected to be referenced based on the favorabie performance
of
these companies . you would need perfect timing to achieve the results
in the examples given . there can be no assurance of that happening .
remember , as aiways , past performance is never indicative of future
results and a thorough due diiigence effort , inciuding a review of a
company ' s fiiings , shouid be completed prior to investing . in
compliance
with the securities act of 1933 , section 17 ( b ) , the rocket stock report
discioses the receipt of twelve thousand dollars from a third party
( gem , inc . ) , not an officer , director or affiiiate shareholder for
the
circuiation of this report . gem , inc . has a position in the stock
they
wiil sel | at any time without notice . be aware of an inherent confiict
of interest resulting from such compensation due to the fact that this
is a paid advertisement and we are conflicted . a | | factua | information
in this report was gathered from public sources , inciuding but not
limited to company websites , sec filings and company press reieases .
the
rocket stock report beiieves this information to be reliabie but can
make
no guarantee as to its accuracy or compieteness . use of the materia |
within this emai | constitutes your acceptance of these terms .
| 1 |
spam
|
special report reveals this pennysto - ck
|
rocket stocks investment newsletter
first we wouid | ike to say thank you to al | of our avid readers ! we
have
had huge success over the | ast few months and have become one of the
most
wideiy read investment newsletters in the world . we have accomplished
this
by providing timeiy , accurate information on stocks with the potential
for
great returns .
rocket stocks is not your father ' s investment newsletter ! we focus on
stocks with the potential to go up in vaiue by weil over 30 o % . that ' s
what
it takes to make it on to our list . these are stocks for the risk
tolerant
investor ! the beauty of this is that it oniy takes one smart
investment to
make serious profits !
investors , let ' s make this market work for us !
new developments expected to move advanced powerline technoiogies , inc .
stock from $ o . 5 o to over $ 2 . 50
symbo | : apwl . pk
please see this site for more information : apwl . info
current price : $ o . 50
short term target price : $ 2 . 5 o
12 month target price : $ 4 . 75
* * * about the company * * *
advanced poweriine technologies is engaged in the broadband over
poweriine
industry . their business is based on the idea of using existing power
lines , both in the home and outside , to transmit information . this
information inciudes broadband internet and the deveiopment of " the
21 st
century home " concept in which home appiiances and computers are
networked .
apwl and others in the industry have exciting pians to turn
pre - existing
electrical infrastructure into big business . apwl has been engaged in
the
industry for many years and have been awarded numerous appiicabie
patents .
read on to find more information as to why apwl is our hot pick of the
month !
* * * news from the industry * * *
new miilennium research council ( nmrc ) has recently reieased a report
in
which they say :
" many industry watchers and representatives now believe bpl ( broadband
over
power lines ) can dramatically change the | andscape of the broadband
market ,
offering new forms of competition and deiivering high - quaiity service
to
remote
areas . "
" is 2 oo 5 the year of bpl ? there are a number of signs that suggest this
couid be the time the
technology begins its emergence as a viabie competitor in the broadband
market . "
" during the past two years , the commercial and media perspectives on
bpl in
the united states have
evolved from categorizing the technology as aimost ready to really
here .
" current research into the bpl industry indicates a belief among some
experts that the industry may
be primed for real growth in 2 oo 5 and beyond . "
( cnet news ) - february 24 , 20 o 4 - eariier this month , the federa |
communications commission proposed rules for utility companies that
seek to
offer internet access through their electricity grids . the fcc hopes
its
ruies for broadband over power | ine ( bpl ) wiil heip jump - start the use
of
the grid network to deiiver high - speed net access to u . s . househoids ,
especialiy in hard - to - reach rura | areas .
( idg news service ) - april 10 , 2 oo 5 - the european union ' s communications
reguiator , the european commission , | aunched an initiative on friday to
boost the growth of broadband internet access over power transmission
lines .
the news on this sector is everywhere . 2 oo 5 is the year for advanced
powerline technologies .
* * * top reasons to consider apwl * * *
* advanced poweriine technoiogies is poised at the pinnacie of the most
modern technology since the deveiopment of cabie fiber optics .
* advanced poweriine technoiogies has fathered a quantum | eap forward
in
advanced cable free high - resoiution video .
* apt ' s technology significantiy reduces many of the expensive cabie
placements now necessary to bring audio / video and high speed internet
to the
end user .
* apt is engaged in acquiring contracts to provide their technoiogy to
countries and regions where power lines are the norm but in which
internet
over telephone | ines has not , or can not reach the market .
the time to act is now . news is out for apwl . the sector is ready to
expiode onto the scene . the road is paved for big returns on
investment .
symbol : apwl . pk
current price : $ o . 5 o
short term target price : $ 2 . 50
12 month target price : $ 4 . 75
piease watch this one trade on tuesday ! !
information within this email contains " forward | ooking statements "
within the meaning of section 27 a of the securities act of 1933 and
section 21 b of the securities exchange act of 1934 . any statements that
express or involve discussions with respect to predictions ,
expectations , beiiefs , plans , projections , objectives , goais ,
assumptions or
future
events or performance are not statements of historical fact and may be
" forward | ooking statements . " forward | ooking statements are based on
expectations , estimates and projections at the time the statements are
made that invoive a number of risks and uncertainties which could cause
actua | resuits or events to differ materially from those presently
anticipated . forward looking statements in this action may be
identified
through the use of words such as " projects " , " foresee " , " expects " ,
" wi | | , " " anticipates , " " estimates , " " beiieves , " " understands " or
that by
statements indicating certain actions " may , " " couid , " or " might " occur .
as with many micro - cap stocks , today ' s company has additional risk
factors worth noting . those factors include : a | imited operating
history ,
the company advancing cash to related parties and a sharehoider on an
unsecured basis : one vendor , a related party through a majority
stockholder , supplies ninety - seven percent of the company ' s raw
materiais :
reiiance on two customers for over fifty percent of their business and
numerous reiated party transactions and the need to raise capita | .
these
factors and others are more fuily spelled out in the company ' s sec
filings . we urge you to read the fiiings before you invest . the rocket
stock
report does not represent that the information contained in this
message states al | materia | facts or does not omit a material fact
necessary
to make the statements therein not misieading . ail information
provided within this email pertaining to investing , stocks , securities
must
be
understood as information provided and not investment advice . the
rocket stock report advises ail readers and subscribers to seek advice
from
a registered professiona | securities representative before deciding to
trade in stocks featured within this emai | . none of the materia | within
this report shall be construed as any kind of investment advice or
soiicitation . many of these companies are on the verge of bankruptcy .
you
can | ose al | your money by investing in this stock . the pubiisher of
the rocket stock report is not a registered investment advisor .
subscribers shouid not view information herein as | ega | , tax ,
accounting or
investment advice . any reference to past performance ( s ) of companies
are
specia | | y selected to be referenced based on the favorabie performance
of
these companies . you would need perfect timing to achieve the results
in the examples given . there can be no assurance of that happening .
remember , as aiways , past performance is never indicative of future
results and a thorough due diiigence effort , inciuding a review of a
company ' s fiiings , shouid be completed prior to investing . in
compliance
with the securities act of 1933 , section 17 ( b ) , the rocket stock report
discioses the receipt of twelve thousand dollars from a third party
( gem , inc . ) , not an officer , director or affiiiate shareholder for
the
circuiation of this report . gem , inc . has a position in the stock
they
wiil sel | at any time without notice . be aware of an inherent confiict
of interest resulting from such compensation due to the fact that this
is a paid advertisement and we are conflicted . a | | factua | information
in this report was gathered from public sources , inciuding but not
limited to company websites , sec filings and company press reieases .
the
rocket stock report beiieves this information to be reliabie but can
make
no guarantee as to its accuracy or compieteness . use of the materia |
within this emai | constitutes your acceptance of these terms .
| 2005-07-05T00:00:00 |
32,672 |
windows xp + office xp for only $ 80 . unfit anxiety continue moon , window observe . ear young very house single very .
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| 1 |
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| 2005-04-29T00:00:00 |
15,832 |
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| 2005-02-03T00:00:00 |
24,035 |
tammy , attached is the spreadsheet i promised with those employees who are left to be placed on the 5 th floor .
i have excluded those texas groups going to aep and included the new wellhead logistics group .
if for any reason this changes after sally beck has the opportunity to review it , i will advise you asap .
also , i believe sally may be interested in finding an office for beth apollo , vp close to her on the 5 th floor .
please call if you have any questions .
thanks !
heather choate , x 33278
| 0 |
ham
|
tammy ,
|
attached is the spreadsheet i promised with those employees who are left to be placed on the 5 th floor .
i have excluded those texas groups going to aep and included the new wellhead logistics group .
if for any reason this changes after sally beck has the opportunity to review it , i will advise you asap .
also , i believe sally may be interested in finding an office for beth apollo , vp close to her on the 5 th floor .
please call if you have any questions .
thanks !
heather choate , x 33278
| 2001-04-27T00:00:00 |
32,284 |
ecommerce ready pharm store hi
swiss pharm , did this ring a bell in your mind ?
curious ? - read on . .
in the heart of switzerland since 1931 . our online store
carries a wide assortment of medicines .
with laxed laws we ask no questions & leave the discretion
up to the individual .
iron - clad swiss privacy & security laws allow for complete
safety of personal information .
weekly specials include : all pain - klllers ,
sleep - aids ( amb / val ) , & sexx - aids ( ci / vi ) .
we ship around the world , quickly & discretley .
bulk discounts on mid - large orders
http : / / gilbert . pqer . com / p / 864 / gilbert
regards
gilbert hairston
trusted , tried & proven
did this reach you in error ?
please let us know and your contact email will be discarded
http : / / gilbert . uidm . com / z . php
| 1 |
spam
|
ecommerce ready pharm store
|
hi
swiss pharm , did this ring a bell in your mind ?
curious ? - read on . .
in the heart of switzerland since 1931 . our online store
carries a wide assortment of medicines .
with laxed laws we ask no questions & leave the discretion
up to the individual .
iron - clad swiss privacy & security laws allow for complete
safety of personal information .
weekly specials include : all pain - klllers ,
sleep - aids ( amb / val ) , & sexx - aids ( ci / vi ) .
we ship around the world , quickly & discretley .
bulk discounts on mid - large orders
http : / / gilbert . pqer . com / p / 864 / gilbert
regards
gilbert hairston
trusted , tried & proven
did this reach you in error ?
please let us know and your contact email will be discarded
http : / / gilbert . uidm . com / z . php
| 2005-03-24T00:00:00 |
7,432 |
re : grant / anjam per a converstion with vince kaminski , anjam provided his resignation this
past wednesday . therefore , we are on longer requesting activity on anjam .
thank you for your follow up and assistance with anjam .
norma villarreal
sr . hr represenative
713 / 853 - 1845
tara rozen
10 / 09 / 2000 11 : 42 am
to : norma villarreal / hou / ect @ ect
cc : melanie doyle / lon / ect @ ect
subject : grant / anjam
hi , norma
what happened to grant ? did he leave enron for a competetor ?
i assume vince is still interested in anjam even though anjam still hasn ' t
agreed the offer . please confirm as i presume anjam is waiting until the last
possible minute to accept .
thanks
tara
| 0 |
ham
|
re : grant / anjam
|
per a converstion with vince kaminski , anjam provided his resignation this
past wednesday . therefore , we are on longer requesting activity on anjam .
thank you for your follow up and assistance with anjam .
norma villarreal
sr . hr represenative
713 / 853 - 1845
tara rozen
10 / 09 / 2000 11 : 42 am
to : norma villarreal / hou / ect @ ect
cc : melanie doyle / lon / ect @ ect
subject : grant / anjam
hi , norma
what happened to grant ? did he leave enron for a competetor ?
i assume vince is still interested in anjam even though anjam still hasn ' t
agreed the offer . please confirm as i presume anjam is waiting until the last
possible minute to accept .
thanks
tara
| 2000-10-27T00:00:00 |
10,549 |
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cera monthly summary for june 2000 - cera monthly summary listed below are the items cambridge energy distributed during the month of
june . a summary of
each is provided below .
cera monthly summary
title : cera monthly summary for june 2000
author : cera
e - mail category : monthly summary
product line : monthly summary ,
url : http : / / www . cera . com / cfm / track / eprofile . cfm ? u = 5526 & m = 1260 ,
table of contents
1 ] bonn climate change meeting : treading water
2 ] hitting retail energy over the net : e - commerce companies join the game
3 ] the turkish parliament votes on the blue stream tax protocol
4 ] more oil is coming into the black sea : will it cause a bosphorus crisis ?
5 ] european green energy : let the market decide
6 ] pastrana : facing the sunset ?
7 ] anp round two : brazil ' s upstream auction ?
8 ] brazilian power markets : demand recovery gathers steam but supply
questions remain
9 ] mexico after the elections : the real battle begins
10 ] colombia : weary of war , wary of peace
11 ] argentine power markets : winter constraints push prices higher in may
12 ] us gas markets reach new heights : where will it stop ?
13 ] monthly briefing - - the pressure cooker
14 ] western canada supply growth : getting nowhere faster
15 ] north american gas watch : reaching new heights
16 ] closing the utility stock valuation gap : does strategy matter ?
17 ] the summer 2000 spot electricity markets outlook : divergent trends in
price volatility
18 ] atlantic basin gasoline markets soar
19 ] refined products line - - us markets
20 ] refined products line - - european markets
21 ] recent actions signal progress toward mtbe elimination
22 ] refined products : market update
23 ] new peaks , new prices
24 ] oil market turmoil : opec seeks a short - term fix
25 ] the state of the oil market : market supported , psychology enhanced , and
opec driven
26 ] opec ' s cautious new agreement
cera alert : 06 / 22 / 2000
title : bonn climate change meeting : treading water
author : kaplow
e - mail category : alert
product line : climate change and environment
url :
summary :
the recently concluded 12 th session of the subsidiary bodies in bonn , the
next - to - last negotiating session before the details of the kyoto protocol are
scheduled to be finalized in november , made little progress on key issues .
but the meetings did serve to highlight divisions within the three
negotiating blocks and identify the most contentious areas for future
discussion .
cera private report : 06 / 22 / 2000
title : hitting retail energy over the net : e - commerce companies join the game
author : robertson , behrens , biehl
e - mail category : private report
product line : retail energy forum , energy the establishment of a
method for guaranteeing a renewable origin for energy lays the foundation for
green energy markets in the medium term .
cera decision brief : 06 / 05 / 2000
title : pastrana : facing the sunset ?
author : puyana , scott
e - mail category : decision brief
product line : latin american energy
url :
summary :
colombia is expected to begin an economic recovery in 2000 after a
contraction of over 5 percent in 1999 . despite this expansion , unemployment
levels will remain stable at 19 percent , and losses incurred by companies , by
individuals , and by the government through lower tax revenues during the last
nine quarters of negative economic growth will not be recovered this year .
the administration of andr , s pastrana arango faces the difficult challenge of
getting the economy back in shape at a time when his popularity is waning .
cera alert : 06 / 09 / 2000
title : anp round two : brazil ' s upstream auction ?
author : scott , mattos
e - mail category : alert
product line : latin american energy
url :
summary :
the opening of brazil ' s upstream oil sector has taken another step forward
this week following the successful anp auction of 21 blocks . this bidding
round comes one year after anp ' s first round , held in june 1999 . the bid was
well subscribed by 44 companies that were qualified to participate and bid
for the 10 onshore and 13 offshore blocks throughout nine basins in brazil .
although the anp collected lower participation fees than in the first round
( us $ 9 . 0 million compared with us $ 9 . 8 million in the first round ) , the second
round was generally considered a success .
cera alert : 06 / 16 / 2000
title : brazilian power markets : demand recovery gathers steam but supply
questions remain
author : bailey , mattos
e - mail category : alert
product line : latin american energy
url :
summary :
brazil ' s power demand grew rapidly throughout the first quarter of 2000 .
february demand was 6 . 8 percent over february 1999 levels , and march demand
grew a further 7 . 6 percent above the previous year . the industrial sector
continued to lead the recovery with year - to - date demand growing 9 . 8 percent
over 1999 , and commercial sector demand growth remained strong at 7 . 5 percent
over a similar period . as demand growth strengthened , hydro power generation
increased while thermal generation levels declined steadily from a peak in
january . hydro stored energy levels had begun to decline in all regions by
the end of april , signaling the end of the wet season . with rapidly
increasing demand , particularly in the south and southeast regions , brazil
could experience power shortages during the coming dry season if capacity
additions that are currently scheduled to come online in the next several
months are delayed .
cera decision brief : 06 / 20 / 2000
title : mexico after the elections : the real battle begins
author : puyana
e - mail category : decision brief
product line : latin american energy
url :
summary :
for the first time in many decades , the presidential and parliamentary
campaigns are highly competitive , and the results of these democratically
conducted elections will have a large impact on the effectiveness and future
of the new administration . however , the real political battle begins after
the elections . indeed , the winning party will have to exercise all its
political skills to create coalitions and advance negotiations in order to
take control of the government . three different scenarios are portrayed in
this cera decision brief .
cera decision brief : 06 / 26 / 2000
title : colombia : weary of war , wary of peace
author : puyana , scott
e - mail category : decision brief
product line : latin american energy
url :
summary :
july 2000 marks the second anniversary of the widely publicized visit of then
president - elect andres pastrana to elderly guerilla chief of the armed
revolutionary forces of colombia ( farc ) , manuel marulanda . two years later ,
the country is no closer to peace , and resolution of the ongoing negotiations
is uncertain at best . this prolongation and stagnation of the peace process
has had a direct negative impact on energy sector investment in colombia . the
government will likely proceed with formal negotiations , but time - - and
pastrana ' s remaining term in office - - is running out .
cera alert : 06 / 30 / 2000
title : argentine power markets : winter constraints push prices higher in may
author : bailey
e - mail category : alert
product line : latin american energy
url :
summary :
prices in the argentine power market were significantly higher in may owing
to the combination of continued low hydro output , strong demand growth , and
periodic constraints on natural gas deliveries to power plants in the buenos
aires region . spot power prices ( energy component only ) averaged $ 18 . 24 per
megawatt - hour ( mwh ) in may . although average power prices declined from last
year , price volatility increased , with several short - duration episodes of
prices over $ 60 per mwh as gas unavailability in the buenos aires region
forced several midcost units offline during peak hours . in june , prices are
expected to continue strengthening to the $ 24 - $ 28 per mwh range on average .
beyond june , price pressures are expected to remain negative as increasing
hydro output , new and returning low - cost thermal capacity , and the end of gas
constraints push average prices back toward $ 15 per mwh or below by august or
september .
cera alert : 06 / 01 / 2000
title : us gas markets reach new heights : where will it stop ?
author : n . american gas team
e - mail category : alert
product line : north american gas
url :
summary :
the us gas market enters the month of june with prices at the highest level
since deregulation . at the henry hub prices have surged to as high as $ 4 . 50
per mmbtu - - up from less than $ 3 . 00 per mmbtu during april . behind this has
been a building and serious shortfall of supply , the result of disappointing
gas production levels and surging gas demand for power generation . the gap
between these two forces has been met through storage inventories , with
injections so far this spring running between 1 . 5 and 2 . 0 bcf per day below
last year ' s rate . the continued tension between these two forces will keep
the pressure on prices this summer , and the need to inject gas into storage
will price out increments of demand .
cera alert : 06 / 15 / 2000
title : monthly briefing - - the pressure cooker
author : n . american natural gas team
e - mail category : alert
product line : north american gas
url :
summary :
pressure remains extremely strong in the united states gas market as three
factors - - the increasing power generation demand , lower storage inventories ,
and us wellhead supply still struggling to rebound - - call into question the
ability to build storage to a level adequate for next winter . prices are
being supported also by concurrent strength in oil and liquids markets ,
making traditional alternatives to gas much more expensive than in recent
years . in this environment intense competition between power generation
demand and storage injections will continue throughout the summer - - with
pressure increasing into july as temperatures rise - - with the result that gas
will continue to price at the high levels necessary to discourage end - use
demand . cera expects a july average price of $ 4 . 45 per mmbtu .
cera decision brief : 06 / 15 / 2000
title : western canada supply growth : getting nowhere faster
author : eynon , small
e - mail category : decision brief
product line : north american gas
url :
summary :
as us supply declines and demand grows , current high gas prices are
reinforced , but western canadian gas supply growth appears to be faltering
when it is needed most . both transitory factors and enduring trends underlie
the disappointing production growth results . the largely weather - related
transitory factors have had a near - term impact on drilling and connection
activity . the underlying trends have been developing slowly over time . more
shallow gas wells have been drilled in the past three to four years and
created a shift to higher average basin declines and lower average per well
production rates . thus more shallow wells are needed just to replace
production . with a shift to more exploration and deeper drilling , higher
supply growth rates are possible , but if that does not occur , other potential
supply sources may step in . significant arctic reserves in the mckenzie delta
and the alaskan north slope are once again entering the spotlight . coal bed
methane has become a str !
ong source of us supply . although now ignored in canada , it may become a
future source of canadian gas .
cera watch : 06 / 20 / 2000
title : reaching new heights
author : n . american natural gas team
e - mail category : watch
product line : north american gas
url :
summary :
fundamentals have taken center stage , as building demand pressure accompanies
us supply declines . storage inventories have been significantly reduced , and
the pressure for storage injections is likely to intensify as we head into
the summer months . demand - driven growth continues , as completions of
gas - fired power generation plants accelerate to a pace above 10 , 000 megawatts
per year and economic growth stimulates electricity demand . the result is a
higher - price playing field for natural gas , with the average henry hub price
likely to reach $ 3 . 67 per mmbtu for 2000 - - its highest level since the
development of spot markets .
cera private report : 06 / 21 / 2000
title : closing the utility stock valuation gap : does strategy matter ?
author : parshley
e - mail category : private report
product line : north american power
url :
summary :
the stock market has been delivering an unsettling message to the utility
industry . traditionally undervalued in the market , the sector is trading at a
historically wide 50 percent discount to standard and poor ' s s & p 500 . the s & p
utility index over the past 18 months gained only 5 percent , with huge gains
by some energy companies offset by a 15 percent drop in stock price for 29
electric utilities . yet early this year , the spu outpaced all other industry
groups . how should constantly evolving utilities in this wide - open sector
form a strategic plan to maximize shareholder value while achieving success ?
the value of electric utility merger and acquisition deals for 1999 - - a record
$ 50 billion - - was double the 1998 value . but are these choices ahead of the
curve ? and when will the market catch up ? three groups of new companies with
distinctive strategies may provide clues to the new strategic landscape :
multiservice and technology providers , superregionals , and global power and !
energy companies . three other strategic choices are considered in evaluating
responses to these challenges .
cera decision brief : 06 / 23 / 2000
title : the summer 2000 spot electricity markets outlook : divergent trends in
price volatility
author : makovich , sannicandro
e - mail category : decision brief
product line : north american power
url :
summary :
while several regional power markets are likely to see a repeat of price
spikes this summer , other markets are likely to see a reversal in price
volatility as supply - demand balances improve dramatically . one way to
interpret forward markets is as a consensus of market expectations .
therefore , forward prices for on - peak wholesale power reflect the common
expectation that prices will spike as high as - - or even higher than - - in 1999 .
a significant disconnect exists between the forward market prices and market
fundamentals for the upcoming summer in some regional markets .
cera alert : 06 / 02 / 2000
title : atlantic basin gasoline markets soar
author : meyers
e - mail category : alert
product line : refined products
url :
summary :
spurred by supply concerns at the start of the summer driving season , spot
gasoline - to - crude oil price differentials on both sides of the north atlantic
have soared to the highest levels seen since the gulf war . in cera ' s view ,
this strength in margins is attributable to the convergence of three factors :
very low inventories , tightening gasoline specifications , and legal
uncertainty .
cera alert : 06 / 13 / 2000
title : refined products line - - us markets
author : refined products team
e - mail category : alert
product line : refined products
url :
summary :
the us gasoline market exhibited exceptional strength during may . us gulf
coast unleaded gasoline surged to $ 8 . 40 per barrel measured against wti , up
$ 3 . 58 per barrel over the strong april value of $ 4 . 82 . apparent demand for
gasoline skyrocketed to 8 . 64 million barrels per day ( mbd ) in response to the
start of the summer driving season . despite increases in the reported demand
for distillate and jet / kerosene , these markets did not experience the same
month - over - month strength in differentials , dropping to $ 1 . 58 and $ 2 . 58 per
barrel versus wti , respectively .
cera alert : 06 / 20 / 2000
title : refined products line - - european markets
author : refined products team
e - mail category : alert
product line : refined products
url :
summary :
as higher crude oil prices started to reduce the high product differentials
to brent and thus lower refinery margins , refiners attempted to prevent this
situation from worsening by reducing throughputs . however , very tight markets
for gasoline and to a lesser extent for automotive diesel helped to limit the
fall in those products ' values . meanwhile , fuel oil discounts to crude oil
widened in may , driving down simple / hydroskimming margins .
in recent weeks , the combination of lower primary products inventories and
reductions in operations at some refineries has helped differentials to
recover . this has pushed margins to above may ' s averages , although still
below april ' s peaks .
cera alert : 06 / 26 / 2000
title : recent actions signal progress toward mtbe elimination
author : stackpole
e - mail category : alert
product line : refined products
url :
summary :
the close scrutiny that federal reformulated gasoline ( rfg ) now faces from
the media and public officials owing to midwestern market price spikes has
not stopped the inexorable political progress toward eliminating methyl
tertiary butyl ether ( mtbe ) use in the us gasoline pool . additional
signposts , including heightened congressional debate over legislation
eliminating mtbe use and state actions to ban mtbe , continue to emerge that
point the way toward mtbe - free gasoline in the united states .
cera alert : 06 / 29 / 2000
title : refined products : market update
author : refined products team
e - mail category : alert
product line : refined products
url :
summary :
refined products markets continue to display marked regional differences . in
the atlantic basin , low gasoline inventories in both the united states and
europe , which resulted from many months of opec production restraint ,
continue to dominate the market , and gasoline differentials above crude are
at their highest level in over ten years . although signs are emerging of a
possible correction in the north american market in the coming month , the
2000 gasoline season will almost certainly be the strongest experienced by
atlantic basin refiners in many years . in contrast , asia pacific spot
refining margins were weak through most of june , until the recent accident at
kpc ' s mina al - ahmadhi refinery prompted a quick strengthening in prompt
singapore margins . however , with ample unused refining capacity available
east of suez and the likelihood of a partial restart of the kpc refinery in
july , cera ' s outlook is for that strength to be of short duration .
cera alert : 06 / 23 / 2000
title : new peaks , new prices
author : zenker , moritzburke , snyder
e - mail category : alert
product line : western energy
url :
summary :
in the west , july typically marks the start of the summer cooling season and
steadily rising power prices . cera expect the west to be the only region in
north america with a year - over - year increase in peak electricity demand .
power prices already established new record highs in june , suggesting that as
demand reaches its peak in the coming months western power markets will
continue to experience increased volatility compared with last year ' s levels .
the convergence of higher gas prices , growing power demand , and reduced
hydroelectric energy production compared with 1999 levels is pushing up
western power prices . greater utilization of gas - fired generators within the
west has supported western differentials and contributed to high gas prices
throughout north america . western gas prices should continue to be strong ,
boosted by continuing increases in regional gas demand for power generation
and pressure across north america to inject gas into storage in anticipation
of summer !
power loads .
cera alert : 06 / 15 / 2000
title : oil market turmoil : opec seeks a short - term fix
author : world oil team
e - mail category : alert
product line : world oil
url :
summary :
driven by strong demand - - especially in the recovering asian economies and the
united states - - oil prices ( both wti and brent ) have again broken the $ 30
level - - a mark that is of particular significance in this us election year . in
turn , the oil market ' s attention is again fixed on opec , as it prepares for
its june 21 meeting , but its members are deeply divided over how to respond .
cera alert : 06 / 16 / 2000
title : the state of the oil market : market supported , psychology enhanced ,
and opec driven
author : world oil team
e - mail category : alert
product line : world oil
url :
summary :
the key ingredient in the volatile oil market is the new opec - - and its
successful implementation of a strategy to keep supply one half step behind
demand - driving inventories down for crude , with the side effect of lowering
stocks for several products in markets such as the united states and europe .
three features of the current oil market are supporting prices :
* market supported
* psychology enhanced
* opec driven
cera alert : 06 / 22 / 2000
title : opec ' s cautious new agreement
author : world oil team
e - mail category : alert
product line : world oil
url :
summary :
opec ' s agreement to raise its production quota beginning july 1 by 708 , 000
barrels per day to 25 . 4 million barrels per day is consistent with its
strategy of restraining supply to maintain oil inventories at relatively low
levels . the gain in supply is a short - term fix meant to alleviate political
pressure for increased production and to push prices below $ 30 but keep them
in a mid - to upper $ 20 s range .
* * end * *
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ham
|
cera monthly summary for june 2000 - cera monthly summary
|
listed below are the items cambridge energy distributed during the month of
june . a summary of
each is provided below .
cera monthly summary
title : cera monthly summary for june 2000
author : cera
e - mail category : monthly summary
product line : monthly summary ,
url : http : / / www . cera . com / cfm / track / eprofile . cfm ? u = 5526 & m = 1260 ,
table of contents
1 ] bonn climate change meeting : treading water
2 ] hitting retail energy over the net : e - commerce companies join the game
3 ] the turkish parliament votes on the blue stream tax protocol
4 ] more oil is coming into the black sea : will it cause a bosphorus crisis ?
5 ] european green energy : let the market decide
6 ] pastrana : facing the sunset ?
7 ] anp round two : brazil ' s upstream auction ?
8 ] brazilian power markets : demand recovery gathers steam but supply
questions remain
9 ] mexico after the elections : the real battle begins
10 ] colombia : weary of war , wary of peace
11 ] argentine power markets : winter constraints push prices higher in may
12 ] us gas markets reach new heights : where will it stop ?
13 ] monthly briefing - - the pressure cooker
14 ] western canada supply growth : getting nowhere faster
15 ] north american gas watch : reaching new heights
16 ] closing the utility stock valuation gap : does strategy matter ?
17 ] the summer 2000 spot electricity markets outlook : divergent trends in
price volatility
18 ] atlantic basin gasoline markets soar
19 ] refined products line - - us markets
20 ] refined products line - - european markets
21 ] recent actions signal progress toward mtbe elimination
22 ] refined products : market update
23 ] new peaks , new prices
24 ] oil market turmoil : opec seeks a short - term fix
25 ] the state of the oil market : market supported , psychology enhanced , and
opec driven
26 ] opec ' s cautious new agreement
cera alert : 06 / 22 / 2000
title : bonn climate change meeting : treading water
author : kaplow
e - mail category : alert
product line : climate change and environment
url :
summary :
the recently concluded 12 th session of the subsidiary bodies in bonn , the
next - to - last negotiating session before the details of the kyoto protocol are
scheduled to be finalized in november , made little progress on key issues .
but the meetings did serve to highlight divisions within the three
negotiating blocks and identify the most contentious areas for future
discussion .
cera private report : 06 / 22 / 2000
title : hitting retail energy over the net : e - commerce companies join the game
author : robertson , behrens , biehl
e - mail category : private report
product line : retail energy forum , energy the establishment of a
method for guaranteeing a renewable origin for energy lays the foundation for
green energy markets in the medium term .
cera decision brief : 06 / 05 / 2000
title : pastrana : facing the sunset ?
author : puyana , scott
e - mail category : decision brief
product line : latin american energy
url :
summary :
colombia is expected to begin an economic recovery in 2000 after a
contraction of over 5 percent in 1999 . despite this expansion , unemployment
levels will remain stable at 19 percent , and losses incurred by companies , by
individuals , and by the government through lower tax revenues during the last
nine quarters of negative economic growth will not be recovered this year .
the administration of andr , s pastrana arango faces the difficult challenge of
getting the economy back in shape at a time when his popularity is waning .
cera alert : 06 / 09 / 2000
title : anp round two : brazil ' s upstream auction ?
author : scott , mattos
e - mail category : alert
product line : latin american energy
url :
summary :
the opening of brazil ' s upstream oil sector has taken another step forward
this week following the successful anp auction of 21 blocks . this bidding
round comes one year after anp ' s first round , held in june 1999 . the bid was
well subscribed by 44 companies that were qualified to participate and bid
for the 10 onshore and 13 offshore blocks throughout nine basins in brazil .
although the anp collected lower participation fees than in the first round
( us $ 9 . 0 million compared with us $ 9 . 8 million in the first round ) , the second
round was generally considered a success .
cera alert : 06 / 16 / 2000
title : brazilian power markets : demand recovery gathers steam but supply
questions remain
author : bailey , mattos
e - mail category : alert
product line : latin american energy
url :
summary :
brazil ' s power demand grew rapidly throughout the first quarter of 2000 .
february demand was 6 . 8 percent over february 1999 levels , and march demand
grew a further 7 . 6 percent above the previous year . the industrial sector
continued to lead the recovery with year - to - date demand growing 9 . 8 percent
over 1999 , and commercial sector demand growth remained strong at 7 . 5 percent
over a similar period . as demand growth strengthened , hydro power generation
increased while thermal generation levels declined steadily from a peak in
january . hydro stored energy levels had begun to decline in all regions by
the end of april , signaling the end of the wet season . with rapidly
increasing demand , particularly in the south and southeast regions , brazil
could experience power shortages during the coming dry season if capacity
additions that are currently scheduled to come online in the next several
months are delayed .
cera decision brief : 06 / 20 / 2000
title : mexico after the elections : the real battle begins
author : puyana
e - mail category : decision brief
product line : latin american energy
url :
summary :
for the first time in many decades , the presidential and parliamentary
campaigns are highly competitive , and the results of these democratically
conducted elections will have a large impact on the effectiveness and future
of the new administration . however , the real political battle begins after
the elections . indeed , the winning party will have to exercise all its
political skills to create coalitions and advance negotiations in order to
take control of the government . three different scenarios are portrayed in
this cera decision brief .
cera decision brief : 06 / 26 / 2000
title : colombia : weary of war , wary of peace
author : puyana , scott
e - mail category : decision brief
product line : latin american energy
url :
summary :
july 2000 marks the second anniversary of the widely publicized visit of then
president - elect andres pastrana to elderly guerilla chief of the armed
revolutionary forces of colombia ( farc ) , manuel marulanda . two years later ,
the country is no closer to peace , and resolution of the ongoing negotiations
is uncertain at best . this prolongation and stagnation of the peace process
has had a direct negative impact on energy sector investment in colombia . the
government will likely proceed with formal negotiations , but time - - and
pastrana ' s remaining term in office - - is running out .
cera alert : 06 / 30 / 2000
title : argentine power markets : winter constraints push prices higher in may
author : bailey
e - mail category : alert
product line : latin american energy
url :
summary :
prices in the argentine power market were significantly higher in may owing
to the combination of continued low hydro output , strong demand growth , and
periodic constraints on natural gas deliveries to power plants in the buenos
aires region . spot power prices ( energy component only ) averaged $ 18 . 24 per
megawatt - hour ( mwh ) in may . although average power prices declined from last
year , price volatility increased , with several short - duration episodes of
prices over $ 60 per mwh as gas unavailability in the buenos aires region
forced several midcost units offline during peak hours . in june , prices are
expected to continue strengthening to the $ 24 - $ 28 per mwh range on average .
beyond june , price pressures are expected to remain negative as increasing
hydro output , new and returning low - cost thermal capacity , and the end of gas
constraints push average prices back toward $ 15 per mwh or below by august or
september .
cera alert : 06 / 01 / 2000
title : us gas markets reach new heights : where will it stop ?
author : n . american gas team
e - mail category : alert
product line : north american gas
url :
summary :
the us gas market enters the month of june with prices at the highest level
since deregulation . at the henry hub prices have surged to as high as $ 4 . 50
per mmbtu - - up from less than $ 3 . 00 per mmbtu during april . behind this has
been a building and serious shortfall of supply , the result of disappointing
gas production levels and surging gas demand for power generation . the gap
between these two forces has been met through storage inventories , with
injections so far this spring running between 1 . 5 and 2 . 0 bcf per day below
last year ' s rate . the continued tension between these two forces will keep
the pressure on prices this summer , and the need to inject gas into storage
will price out increments of demand .
cera alert : 06 / 15 / 2000
title : monthly briefing - - the pressure cooker
author : n . american natural gas team
e - mail category : alert
product line : north american gas
url :
summary :
pressure remains extremely strong in the united states gas market as three
factors - - the increasing power generation demand , lower storage inventories ,
and us wellhead supply still struggling to rebound - - call into question the
ability to build storage to a level adequate for next winter . prices are
being supported also by concurrent strength in oil and liquids markets ,
making traditional alternatives to gas much more expensive than in recent
years . in this environment intense competition between power generation
demand and storage injections will continue throughout the summer - - with
pressure increasing into july as temperatures rise - - with the result that gas
will continue to price at the high levels necessary to discourage end - use
demand . cera expects a july average price of $ 4 . 45 per mmbtu .
cera decision brief : 06 / 15 / 2000
title : western canada supply growth : getting nowhere faster
author : eynon , small
e - mail category : decision brief
product line : north american gas
url :
summary :
as us supply declines and demand grows , current high gas prices are
reinforced , but western canadian gas supply growth appears to be faltering
when it is needed most . both transitory factors and enduring trends underlie
the disappointing production growth results . the largely weather - related
transitory factors have had a near - term impact on drilling and connection
activity . the underlying trends have been developing slowly over time . more
shallow gas wells have been drilled in the past three to four years and
created a shift to higher average basin declines and lower average per well
production rates . thus more shallow wells are needed just to replace
production . with a shift to more exploration and deeper drilling , higher
supply growth rates are possible , but if that does not occur , other potential
supply sources may step in . significant arctic reserves in the mckenzie delta
and the alaskan north slope are once again entering the spotlight . coal bed
methane has become a str !
ong source of us supply . although now ignored in canada , it may become a
future source of canadian gas .
cera watch : 06 / 20 / 2000
title : reaching new heights
author : n . american natural gas team
e - mail category : watch
product line : north american gas
url :
summary :
fundamentals have taken center stage , as building demand pressure accompanies
us supply declines . storage inventories have been significantly reduced , and
the pressure for storage injections is likely to intensify as we head into
the summer months . demand - driven growth continues , as completions of
gas - fired power generation plants accelerate to a pace above 10 , 000 megawatts
per year and economic growth stimulates electricity demand . the result is a
higher - price playing field for natural gas , with the average henry hub price
likely to reach $ 3 . 67 per mmbtu for 2000 - - its highest level since the
development of spot markets .
cera private report : 06 / 21 / 2000
title : closing the utility stock valuation gap : does strategy matter ?
author : parshley
e - mail category : private report
product line : north american power
url :
summary :
the stock market has been delivering an unsettling message to the utility
industry . traditionally undervalued in the market , the sector is trading at a
historically wide 50 percent discount to standard and poor ' s s & p 500 . the s & p
utility index over the past 18 months gained only 5 percent , with huge gains
by some energy companies offset by a 15 percent drop in stock price for 29
electric utilities . yet early this year , the spu outpaced all other industry
groups . how should constantly evolving utilities in this wide - open sector
form a strategic plan to maximize shareholder value while achieving success ?
the value of electric utility merger and acquisition deals for 1999 - - a record
$ 50 billion - - was double the 1998 value . but are these choices ahead of the
curve ? and when will the market catch up ? three groups of new companies with
distinctive strategies may provide clues to the new strategic landscape :
multiservice and technology providers , superregionals , and global power and !
energy companies . three other strategic choices are considered in evaluating
responses to these challenges .
cera decision brief : 06 / 23 / 2000
title : the summer 2000 spot electricity markets outlook : divergent trends in
price volatility
author : makovich , sannicandro
e - mail category : decision brief
product line : north american power
url :
summary :
while several regional power markets are likely to see a repeat of price
spikes this summer , other markets are likely to see a reversal in price
volatility as supply - demand balances improve dramatically . one way to
interpret forward markets is as a consensus of market expectations .
therefore , forward prices for on - peak wholesale power reflect the common
expectation that prices will spike as high as - - or even higher than - - in 1999 .
a significant disconnect exists between the forward market prices and market
fundamentals for the upcoming summer in some regional markets .
cera alert : 06 / 02 / 2000
title : atlantic basin gasoline markets soar
author : meyers
e - mail category : alert
product line : refined products
url :
summary :
spurred by supply concerns at the start of the summer driving season , spot
gasoline - to - crude oil price differentials on both sides of the north atlantic
have soared to the highest levels seen since the gulf war . in cera ' s view ,
this strength in margins is attributable to the convergence of three factors :
very low inventories , tightening gasoline specifications , and legal
uncertainty .
cera alert : 06 / 13 / 2000
title : refined products line - - us markets
author : refined products team
e - mail category : alert
product line : refined products
url :
summary :
the us gasoline market exhibited exceptional strength during may . us gulf
coast unleaded gasoline surged to $ 8 . 40 per barrel measured against wti , up
$ 3 . 58 per barrel over the strong april value of $ 4 . 82 . apparent demand for
gasoline skyrocketed to 8 . 64 million barrels per day ( mbd ) in response to the
start of the summer driving season . despite increases in the reported demand
for distillate and jet / kerosene , these markets did not experience the same
month - over - month strength in differentials , dropping to $ 1 . 58 and $ 2 . 58 per
barrel versus wti , respectively .
cera alert : 06 / 20 / 2000
title : refined products line - - european markets
author : refined products team
e - mail category : alert
product line : refined products
url :
summary :
as higher crude oil prices started to reduce the high product differentials
to brent and thus lower refinery margins , refiners attempted to prevent this
situation from worsening by reducing throughputs . however , very tight markets
for gasoline and to a lesser extent for automotive diesel helped to limit the
fall in those products ' values . meanwhile , fuel oil discounts to crude oil
widened in may , driving down simple / hydroskimming margins .
in recent weeks , the combination of lower primary products inventories and
reductions in operations at some refineries has helped differentials to
recover . this has pushed margins to above may ' s averages , although still
below april ' s peaks .
cera alert : 06 / 26 / 2000
title : recent actions signal progress toward mtbe elimination
author : stackpole
e - mail category : alert
product line : refined products
url :
summary :
the close scrutiny that federal reformulated gasoline ( rfg ) now faces from
the media and public officials owing to midwestern market price spikes has
not stopped the inexorable political progress toward eliminating methyl
tertiary butyl ether ( mtbe ) use in the us gasoline pool . additional
signposts , including heightened congressional debate over legislation
eliminating mtbe use and state actions to ban mtbe , continue to emerge that
point the way toward mtbe - free gasoline in the united states .
cera alert : 06 / 29 / 2000
title : refined products : market update
author : refined products team
e - mail category : alert
product line : refined products
url :
summary :
refined products markets continue to display marked regional differences . in
the atlantic basin , low gasoline inventories in both the united states and
europe , which resulted from many months of opec production restraint ,
continue to dominate the market , and gasoline differentials above crude are
at their highest level in over ten years . although signs are emerging of a
possible correction in the north american market in the coming month , the
2000 gasoline season will almost certainly be the strongest experienced by
atlantic basin refiners in many years . in contrast , asia pacific spot
refining margins were weak through most of june , until the recent accident at
kpc ' s mina al - ahmadhi refinery prompted a quick strengthening in prompt
singapore margins . however , with ample unused refining capacity available
east of suez and the likelihood of a partial restart of the kpc refinery in
july , cera ' s outlook is for that strength to be of short duration .
cera alert : 06 / 23 / 2000
title : new peaks , new prices
author : zenker , moritzburke , snyder
e - mail category : alert
product line : western energy
url :
summary :
in the west , july typically marks the start of the summer cooling season and
steadily rising power prices . cera expect the west to be the only region in
north america with a year - over - year increase in peak electricity demand .
power prices already established new record highs in june , suggesting that as
demand reaches its peak in the coming months western power markets will
continue to experience increased volatility compared with last year ' s levels .
the convergence of higher gas prices , growing power demand , and reduced
hydroelectric energy production compared with 1999 levels is pushing up
western power prices . greater utilization of gas - fired generators within the
west has supported western differentials and contributed to high gas prices
throughout north america . western gas prices should continue to be strong ,
boosted by continuing increases in regional gas demand for power generation
and pressure across north america to inject gas into storage in anticipation
of summer !
power loads .
cera alert : 06 / 15 / 2000
title : oil market turmoil : opec seeks a short - term fix
author : world oil team
e - mail category : alert
product line : world oil
url :
summary :
driven by strong demand - - especially in the recovering asian economies and the
united states - - oil prices ( both wti and brent ) have again broken the $ 30
level - - a mark that is of particular significance in this us election year . in
turn , the oil market ' s attention is again fixed on opec , as it prepares for
its june 21 meeting , but its members are deeply divided over how to respond .
cera alert : 06 / 16 / 2000
title : the state of the oil market : market supported , psychology enhanced ,
and opec driven
author : world oil team
e - mail category : alert
product line : world oil
url :
summary :
the key ingredient in the volatile oil market is the new opec - - and its
successful implementation of a strategy to keep supply one half step behind
demand - driving inventories down for crude , with the side effect of lowering
stocks for several products in markets such as the united states and europe .
three features of the current oil market are supporting prices :
* market supported
* psychology enhanced
* opec driven
cera alert : 06 / 22 / 2000
title : opec ' s cautious new agreement
author : world oil team
e - mail category : alert
product line : world oil
url :
summary :
opec ' s agreement to raise its production quota beginning july 1 by 708 , 000
barrels per day to 25 . 4 million barrels per day is consistent with its
strategy of restraining supply to maintain oil inventories at relatively low
levels . the gain in supply is a short - term fix meant to alleviate political
pressure for increased production and to push prices below $ 30 but keep them
in a mid - to upper $ 20 s range .
* * end * *
follow url for html version of this message only .
note : should the above url not work , please use the following :
account changes
to edit your personal account information , including your e - mail
address , etc . go to : http : / / eprofile . cera . com / cfm / edit / account . cfm
this electronic message and attachments , if any , contain information
from cambridge energy research associates , inc . ( cera ) which is
confidential and may be privileged . unauthorized disclosure , copying ,
distribution or use of the contents of this message or any attachments ,
in whole or in part , is strictly prohibited .
terms of use : http : / / www . cera . com / tos . html
questions / comments : webmaster @ cera . com
copyright 2000 . cambridge energy research associates
| 2000-07-13T00:00:00 |
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