input stringlengths 93 39k | output stringlengths 1 117 |
|---|---|
After a careful review of the wholesale and retail gas trading and scheduling process it has been decided that the Gas Logistics teams should report directly into the Enron America's Commercial organization.
This realignment will help to strengthen the commercial focus and communication between the trading desks and the schedulers and will play a critical role as Enron tries to maximize opportunities and maintain a competitive trading edge.
The details are as follows: Wholesale Bob Superty will maintain his management of the Logistics support functions which include the Transport Rate team (Kim Olinger), Electronic Commerce team (Tammy Lee-Jaquet) and Regulatory Affairs teams (Suzanne Calcagno).
In addition, Bob will now manage the Northeast Logistics team as part of the East desk.
Bob will report directly to Scott Neal and will also help coordinate the Logistics function across all regions working closely with each of the regional Logistics Managers, Commercial desk heads and Enron Americas senior management team.
Victor LaMadrid will manage the Southeast Logistics team and will report directly to Scott Neal.
Victor's knowledge and overall east desk experience will be critical to help maximize east desk opportunities and promote new initiatives across all regions.
Lisa Kinsey will manage the Central Logistics team and will report directly to Hunter Shively.
Patti Sullivan will manage the West Logistics team and will report directly to Mike Grigsby.
Darren Farmer will manage the Texas Logistics team and will report directly to Tom Martin George Smith will manage the Well Head Logistics team and will report directly to Fred Lagrasta.
Retail Donna Greif will now report directly to Don Black.
Each of the regional Logistics Managers (East - Marde Driscoll-Ernest, Central - Charlie Muzzy, West - Sabra Dinari) will continue to report directly to Donna.
Donna will continue her ongoing efforts in the development and integration of the new retail trading systems, prior period adjustments and development of a strong and talented Logistics team.
Congratulations to all involved and welcome to the commercial gas team - John Lavorato, President and CEO, Enron Americas.
| Logistics Commercial Realignment |
Advanced Technology and 10 Free Online Equity Trades+ Dear Hunter Shively, As an active trader, you know that having the tools you need to trade is essential in today's market.
So, when you open an account with Datek , you'll have access to real-time market information, the ability to customize your trading screen and direct access trading.
See how you can take advantage of what Datek has to offer: ?
One Low Commission - just $9.99: Datek is the only online broker that gives you one simple low commission for both market and limit orders for any online equity trade up to 5,000 shares.
?
FREE Streamer 3.0 Quote Service**.
With Streamer Real-Time Quotes you have access to customized quotes and charts that show you the movements of any stock in real time.
?
FREE Level II Quotes and Real-Time Charts***.
Our Streamer Level II Quotes provide a complete picture of the real-time momentum of any Nasdaq stock, by showing you the top 15 bids and offers from all ECN's and Market Centers.
?
New: Customize your own Trading Site.
What do YOU want to see on screen?
Datek offers three floating windows that let you enter direct access orders faster, store your orders for the right moment, and watch your account balance update in real time.
?
FREE access to Datek DirectSM?.
Control the routing of your Nasdaq orders with direct access - without paying higher commissions.
And unlike other online brokers, Datek does not charge you for ECN fees.
?
FREE Real-Time Screener??.
Find stock opportunities that fit your investment strategy by matching criteria you input with real-time performance information.
?
Fast Trade Execution*.
If your marketable online equity order isn't executed within 60 seconds, Datek will waive the commission.
If you act now, you can also capitalize on a limited-time offer for 10 free online equity trades+.
Just open an account by depositing or transferring $500 or more before December 31, 2001.
Please be sure to include the offer code AZZ when filling out your application.
Take advantage of this limited time offer - and Datek's free tools for active traders - by opening an account today.
Sincerely,
| There are reasons why active traders choose Datek... |
Bob, et al, Please forward all PEC/NS/Aruba related documents to the attention of Kay Chapman with the estate.
This would include all transportation agreements, binders, etc.
If anyone has a full set/copy of the transportation agreements, please respond to this e-mail.
They need to go on a plane to Chicago later today.
We need to ensure these documents remain with the estate due to confidentiality provisions with PEC.
As always, thanks for your assistance.
Thanx,
| PGL/NS - Aruba |
Hi Guys?
Per our discussion this morning - two further items needed to complete my end of this transition of the weather team: 1) A contact number for The Weather Channel - (770) 226-0000.
It's a switchboard number but they do have a dial by name directory - that's how I get anybody I know there.
The 2 names: Dr. Steve Lyons and Kevin Stenson.
2) My internet explorer bookmarks can be found at O:/Research/Bennett/Favorites.
My understanding is that this is all you guys need from me to complete my part of this transition.
Please confirm this - and let me know if/what you still need me to do.
To avoid confusion - please respond to everyone on the list above so that we can ensure that HR continues to be in the loop with this effort.
Sorry about the confusion but please let me know what further I can do - or if you are satisfied please confirm that there is nothing further that you need.
Steve
| Weather Transition (Complete For My Part?) |
Hunter, As I mentioned this morning, since Zach McCarroll turned down the offer we = would like to explore the possibility of keeping David Woodstrom on the IT = team to fill the open position.
The Fundamentals IT team has been cut to a= minimum support staff, and the addition of David would facilitate more dev= elopment of fundamentals content.
David has been focusing on the operation= al capacity reporting (morning ops reports) by creating better ways to acce= ss the operational data (real time query tool vs. standard reports).
David= also has been responsible for maintenance and development of the commodity= fundamentals website since he joined the group in early 2000.
He built an= d maintains the current message board system used by gas trading and as wel= l as the critical notice alerts for pipelines.
He has also worked closely = with the West desk and Portland on various real time load and outage report= s. David Dronet and I both feel that the addition of David Woodstrom will = allow the fundamentals team to continue producing innovative products inste= ad of providing only support for current operations.
Let me know if you ha= ve any questions.
Chris
| David Woodstrom |
Dear Body Shop Member: During the UBS/Enron transition your Body Shop membership will continue without interruption.
We are working with UBS and Enron to transition payroll deductions and continue exterior door access to the Body Shop.
While we are finalizing these changes please continue your Body Shop membership.
Thank you,
| Body Shop Deductions for UBS Employees |
The following will be the deal entry procedures for UBSWEnergy: Financial 1.
All non-electronic financial deals to be entered directly by Risk Management from a written and signed deal ticket (required) from front office Physical 1.
All current month physical deals to be booked directly into Sitara by front office (logistics/trading) 2.
All non-electronic prompt month forward deals to be booked directly into TDS by Risk Management from a written and signed deal ticket (required) from front office - physical meters to be added by logistics/trading
| Gas deal entry procedures |
I was looking at past levels, and I thouhgt to share my findings with you.
Highest levels as of the first week of April was in 1999 of 1,367 TCF.
Yesterday's AGA showed our levels @ 2,294.
In order to reach 1999's levels we ould need to withdraw about 103 BCF a week (2,294 less 1,367 divided vy the remaining 9 weeks until the first week of April).
Also, 1999 had the highest levels for the third week of January, levels were 2,039.
Year 2002 is 255 bcf ahead.
| US Storage levels |
Is it possible for each one of you to meet tommorrow, 1/31 at 10:00 in conference room 6106 to discuss the assistant support.
We need to decide how we are going to divide the assistants.
Please let me know.
| Meeting regarding Assistants |
Everyone, We are in the process of creating new contracts with UBS for all Market Data real-time applications, subscriptions and publications.
Attached is a comprehensive list of all contracts that will be renegotiated under the UBS name for use by the Gas and Power trading entities.
In order to leverage UBS' significant discounts and avoid duplicate efforts, Danielle Marcinkowski with Market Data will be the initial point of contact when inquiring about the addition or status of applications or publications.
I bring this to your attention because we understand that several groups have initiated discussions with the various vendors over the past few days.
If you have any questions please feel free to contact me at 713-853-9358 or Danielle at 713-853-7926.
If you think something is missing from the list, please bring it to our attention immediately.
Please pass this word around within your group as appropriate.
Regards,
| Market Data Contracts |
Bill Read...Meteorologist-in-Charge...NWS Houston 281-337-5074 ext.
222 (Was looking at the job description and thinking about it for himself or if he had someone else to suggest) Mark Walquist...Sr. Forecaster...Wilkens Weather 713-430-7100 (Work number...may not be able to talk in detail with him there...worried about job security) John Lewis...Lead Forecaster...NWS Little Rock 501-985-2853 (Home phone number...indicated liked where he was...maybe you can be more persuasive) Steve Bennett is working on getting us in touch with Steve Lyons and possibly some other Weather Channel forecasters.
I have left 2 messages with Elliot Abrams...Lead Forecaster at AccuWeather.
He works the early morning shift and I asked him to email me or call me.
Robert Ricks is due in for an interview early next week.
Dave Ryan is contacting Matt Rogers at Eartsat.
Jay
| Phone Numbers for Weather Position |
Robert Ricks is a Lead Forecaster with the National Weather Service in New Orleans.
He is interested in coming in to interview for the position.
He indicated that next Tuesday or Wednesday would be the best dates for him.
He is working midnight to 8am for the remainder of this week.
He can be reached on his cell phone at any time...985-373-0608 or at home...985-875-0015.
His work number is 985-649-0429.
He will be sending me a resume in the next few days.
On other candidates: Bill Read (MIC- NWS Houston) is considering whether to interview or not.
I will remain in contact with him.
Mark Walquist (Forecaster - Wilkens Weather) has declined to interview due to job security issues.
John Lewis (Lead Forecaster - NWS Little Rock) has declined to interview due to "happy where I am and no money can change my mind."
I am trying to get an update on the status of Steve Lyons, other Weather Channel employees, and Matt Rogers.
| Weather position |
Hey Hunter, I know I have been missing you for coffee lately but Rogers Herndon recommend I bounce a quick question off of you.
He mentioned that it was possible that if enough people bail from UBS there may be a spot there for me.
Do you think that it is possible that I could squeeze in?
Jason
| Quick Question |
Hi Hunter, I tried sending you an email earlier but I didn't have the right address.
How are things?
I am still looking for a job.
I have attached a copy of my resume to this email.
If anything comes your way could you please let me know.
I am not necessarily fixated on trading.
It would be optimal but I will do anything else for now.
Thank you for everything,
| Hi |
NGI's Daily Gas Price Index published : January 14, 2002 TransCanada Plans Export Capacity Additions While it will take another two years for a Mackenzie Valley production and pipeline project to come together, there are signs that a safety margin is developing in Canadian natural gas supplies.
Western Canada's established, heavily exploited gas fields can still deliver production growth for years to come, the National Energy Board has been told.
TransCanada PipeLines Ltd. delivered the reassuring word in an application for a year-2002 expansion program dedicated primarily to increasing exports to California and the northwestern United States.
TransCanada predicted that production from the western provinces can rise by about 15% to a sustained rate of 20 Bcf/d until at least 2010.
Titled the Westpath Expansion, TransCanada's proposal calls for $48.3 million in new facilities to raise capacity on its British Columbia System by 420 MMcf/d or 16% to about 3 Bcf/d.
The route crosses southeastern B.C.
from the Alberta boundary to an export point on the U.S. border, where it fills PG&E Gas Transmission.
Along with U.S. traders and power generators, customers lined up for the added service include Vancouver distributor BC Gas Utility Ltd. and Powerex Corp., a subsidiary of BC Hydro that procures fuel for gas-fired power stations.
TransCanada told the NEB that it also expects to file a further expansion proposal in second-quarter 2002 for the B.C.
System.
The agenda matches growth under way on PG&E.
TransCanada acknowledges that its forecast of supplies from the western provinces is more optimistic than the current expectations of the NEB, the Alberta Energy and Utilities Board and the Canadian Gas Potential Committee.
The pipeline company said its information goes beyond official public records to include confidential data from customers, its own proprietary studies and updated information on results of last year's boom in gas drilling.
The pipeline has told the NEB that "with continued demand growth, the Western Canada Sedimentary Basin should be able to support increasing levels of gas deliveries of up to 20 Bcf/d at least through this decade."
Production from Alberta, B.C.
and Saskatchewan averaged an estimated 17.2 Bcf/d in 2001.
TransCanada also predicts that "unconventional gas" -- chiefly coalbed methane, and possibly reserves in "tight" or difficult geological formations -- will enter production by about 2006 and eventually reach 4 Bcf/d.
But the pipeline projection acknowledges most tight gas "is not currently considered economically available within the forecast horizon (to the year 2025) and current technological assumptions."
At the same time, TransCanada said there is also great uncertainty in predicting gas production from coal deposits because there is none yet in Canada.
| TransCanada Plans Export Capacity Additions |
Starting on Monday, January 12, we will begin discussing various topics on gas fundamentals.
For the next few weeks, we will meet from 2:00-3:00 each afternoon in room ECS06716.
I would like everyone's input and new ideas on how we can improve going forward.
A tentative schedule of topics is attached.
Chris
| Fundamentals Discussions |
Greetings everyone, Please find attached the project vision for the Regulatory Knowledge Base.
I would like for everyone to review it prior to meeting sometime in May to discuss the details of the project.
Should you have any questions, please contact me.
Thanks,
| Regulatory Knowledge Base |
Greg Whalley has requested a Trader's Meeting tomorrow morning @ 7:45 a.m. (CST).
The meeting will be held in his office, ECS 06752.
The dial-in number for Portland and Calgary is listed below.
| Trader Meeting - 2/7 @ 7:45 a.m. (CST) - ECS 06752 |
I just wanted to confirm the first meeting of the Analyst/Associate Committee on Monday, March 26 from 8:00-10:00 am in the 50th Floor Dining Room (eb50m).
You will find an agenda for the meeting below, as well as attachments containing a recent overview of the program by business unit, and the results of an October 2000 survey of program participants.
This information should help you prepare for our meeting.
Feel free to contact me at x36671 if you would like to discuss anything prior to the meeting.
I look forward to working with each of you.
Regards,
| Analyst/Associate Committee Meeting |
Hunter, I have attached below two worksheets.
One that shows all of the users that are in the Level 1 category, and another that shows the files that only the Level One category will be able to view.
We will be able to add and take off people or files on either of these lists whenever requested.
Thank you,
| Website Security |
Hey Hunter, A quick update.
Kevin Brady is up to speed on working with Colin and Chris on consolidating critical and noncritical notices for all the regions.
I have also passed on the idea of an operations page on the website to the other logistics managers and the central desk schedulers to get their ideas and insights on how to make this page beneficial to both the traders and schedulers.
A couple of ideas that have already been passed my way are: 1) Incorporating the Gas Daily and Index historicals against production/storage by pipe so that we could project cash outs (Mark Schrab) 2) A transportation rate matrix on the web site (Cora Pendergrass) 3) Enron operations personnel contact page with phone numbers and pictures.
Much like the weather guys.
I laughed at first but Victor LaMadrid whom suggested this said that the East Desk Traders don't even know all of his schedulers.
4) An easy access to the pipelines meters and dunns numbers.
(Kevin Brady) 5) Morning sheets updated with contract, constraint, and imbalance information from Sitara and Unify (Victor LaMadrid) I have asked Kevin to consolidate all the ideas and then we can get together and decide which ones you want to place into production.
Lisa
| Operations Page - Fundys Website |
Dear Associate / Analyst Committee: The following attachment is information regarding upcoming events in the Associate / Analyst program.
Please "save the date" on your calendars as your participation is greatly appreciated.
Any questions or concerns you may have can be directed to John Walt or Donna Jones.
Thank you,
| "Save the Date" - Associate / Analyst Program |
Hey Hunter, how's it going?
Got a favor.
I am sponsoring a "Summer Series" of presentations to select individuals in EES to get them more acquainted with the wholesale marketplace and other areas of Enron.
I will be having these each Wednesday beginning June 13th.
We're starting with US Power which Rogers Herndon is going to present.
On June 20th, I'd like to have someone present US Gas.
I'd really like to have you present if at all possible.
We're doing these in 5C2 which holds about 100 folks.
The EES groups will really benefit in gaining more insight into the wholesale markets.
I'm basically wanting to give them an overview of the current fundamentals in the US Gas market, the influence from Canada/Mexico, an update of storage and transportation balances/concerns, our view of the forward market and the things that are influencing it, etc.
We probably just need a 30-45 presentation with about 30 minutes for Q & A.
| A Favor! |
SAVE THE DATE!
The EWS/OTHERS Associate and Analyst Mid-year 2001 PRC will be held on June 25, 2001.
This meeting will include representation from EWS, APACHI, CALME, CORP, ECM, EGM, EIM, EIP, ENW, ESA, ETS, EOTT, HPL, PGE, EWC, Japan, EnronCredit, and EWS.
Details to follow.
Terry Bosien HR Manager, Associate and Analyst Program ext.
35230
| EWS/Others Associate and Analyst Mid-year 2001 PRC - SAVE THE DATE |
Please review and verify the attached spreadsheet.
Make any corrections to employee info in RED on the spreadsheet As we will not hold a pre-ranking meeting, please provide a pre-rank of 1-5 (see attached rating descriptors) for each employee.
COMMERCIAL: Commercial employees are identified by a C in the Peer Group column You should be prepared to represent these employees at the July 9 Commercial PRC meeting COMMERCIAL SUPPORT: Commercial Support employees are identified by a CS in the Peer Group column Non-exempt employees (Clerks/Administrative Assistants/Coordinators) will not participate in a PRC meeting.
Your ranking on the spreadsheet 1-3 (see attached rating descriptors under Job Group Participation) will be the final ranking for these employees Note: If your employees used the PEP system to do a self-evaluation, it is important that you review the accomplishments section of the self-eval prior to attending a PRC meeting.
This information will be available to display on the screen during the meeting.
If you have any questions, call me at 5-3847.
Please send the completed spreadsheet to me no later than MONDAY, JUNE 11.
| Important PRC info-Read and Respond by Monday, June 11 |
Please review and verify the attached spreadsheet.
Make any corrections to employee info in RED on the spreadsheet As we will not hold a pre-ranking meeting, please provide a pre-rank of 1-5 (see attached rating descriptors) for each employee.
COMMERCIAL: Commercial employees are identified by a C in the Peer Group column You should be prepared to represent these employees at the July 9 Commercial PRC meeting COMMERCIAL SUPPORT: Commercial Support employees are identified by a CS in the Peer Group column Non-exempt employees (Clerks/Administrative Assistants/Coordinators) will not participate in a PRC meeting.
Your ranking on the spreadsheet 1-3 (see attached rating descriptors under Job Group Participation) will be the final ranking for these employees Note: If your employees used the PEP system to do a self-evaluation, it is important that you review the accomplishments section of the self-eval prior to attending a PRC meeting.
This information will be available to display on the screen during the meeting.
If you have any questions, call me at 5-3847.
Please send the completed spreadsheet to me no later than MONDAY, JUNE 11.
| Important PRC info-Read and Respond by Monday, June 11 |
Over the last several months, the CommodityLogic team has designed, built, and beta-tested a number of "modules" to create EnronOnline-type capabilities for the mid and back-office.
By combining these web-based solutions with the back-office commercialization effort, Enron can now offer its clients a complete suite of operational services unique in the industry.
Many of you have also created important pieces in this puzzle, and all of you have valuable client relationships.
We'd like to put all of these elements together.
Please join our team for a demonstration of the CommodityLogic modules and a discussion on strategy next Thursday, June 14, 2:30 to 3:30, 49C1.
If I have excluded anyone from the invitation list that you feel should attend, please let me know.
Looking forward to seeing you next week.
All the best,
| CommodityLogic, Back-Office Commercialization and You |
Hunter, I will be out of the office on Monday and Tuesday meeting with the EIA in Washington D.C. so I will miss the Tuesday afternoon Trading Track meeting.
I think Biliana should spend a few more months in the fundamentals group since she has only been here since mid-February.
She has also expressed an interest in spending 2-3 months more in the group, and she could benefit from learning about the pipelines in the STP group.
We lose Virawan (Aug 1st), Mat (Aug 1st), and Denver (Sep 1st).
We get Bilal Bajwa (Jul 1st) and Jason Wolfe (Sep 1st) We could use two additional Trading Track Analysts/Associates in Jul/Aug to fill out the fundamentals group.
If we don't get the people from the Trading Track, I will have to recruit them from the Assoc/Analyst pool.
Let me know if you have any questions.
Chris
| Trading Track meeting on Tuesday |
Hunter...
I spoke with Louise on executing MGU.
She wants us all to sign the dash that I provided you yesterday and then I can sign the contract.
Of course the conversation went to value and I described the arrangement as such 1) Original mark to Russell of $2 MM - I described that the value would either a) fall out of the structure or b) you and I would determine another manner and 2) trading and origination would share the go forward value in the transaction as 60/40 unless you were required to create $2MM and then you would be covered on the monthly cost annuity first and then a sharing of 60% to you 40% to origination.
I emphasized the exercise of tracking this transaction against structure to determine the merits of our current analysis/internal process.
Attached is the dash for you to review and then call me with 1) your changes or 2) your approval.
Thanx,
| MGU |
New e-platform opens market to producers E nergyGateway.com yesterday unveiled a new marketing platform that will allo= w=20 gas pro-ducers to conduct online transactions under variable levels of service.
The move opens the door for small- and medium-sized producers to enter the= =20 online mar-ketplace, EnergyGateway.com said.
Its new electronic venture lets the producer choose= =20 its level =01* including swing, interruptible and firm service =01* when the of= fer is=20 made.
This enables buyers and sellers to transact for any term, raising the platform=01,s func= tion=20 above that of a simple day-trading tool, according to EnergyGateway.com.
=01&Wholesale trading platforms have ignored the highly customized needs of= =20 producers and consumers.
All market participants value liquidity, competitive-based=20 processes and access to strategic information, not just trading companies,=018 EnergyGateway.com CE= O=20 Mark Jergens said.
=01&Wholesale trading platforms essentially prohibit the sale of natu= ral=20 gas in the actual way it is produced, flowed and transacted.=018 By allowing more producers to compete online, EnergyGateway.com sees its=20 program as creating savings.
=01&To create an optimum portal for buyers and sellers, w= e=20 must have direct contact with the producer community,=018 Jergens explained.
=01&By implemen= ting=20 this program, we can provide a service to producers in any region of the country that wan= t=20 to participate in e-commerce opportunities but cannot due to barrier of entry established by wholesalers= .=018 Columbus, Ohio-based EnergyGateway.com is an independent builder of=20 e-communities, offering transaction services and strategic market information for large=20 natural gas and electric suppliers and consumers.
The company also plans to offer small business and= =20 residential custom-ers a nationwide preferred provider network of natural gas and electric supplie= rs=20 in 2001.
VM
| FYI - Gas Daily Today |
Gani, My name is Hunter Shively.
I work for Enron.
I would like to arrange a phone interview with you.
Please call me at 713-853-4772 or e-mail hunter.s.shively@enron.com Please leave a message that states your phone number and the best time to contact you.
If you are no longer interested please let me know.
Thank You,
| Enron |
CERA is publishing some reports on their website that we should pay for and post on our website.
Enron may already have an account.
Here is an example that I scanned
| Resumes |
I have attached the review.
Please let me know if this is the format that I should submit to Kim.
If so, should I forward it to Kim or do you want to give it to her and explain the situation.
Thanks
| Theresa review |
Paul, If you are coming to Houston for bidweek would you give my group a quick presentation on future rockies expansions?
Please let me know and I will set up a conference room if you can do it.
Thanks
| Rockies Expansion |
Technical issues 1) When some of the members of the chat room begin to talk, their microphone volume starts to trail off.
2) Many of the users use the ctrl button in their daily activities.
The talk button needs to be changed to an F# key.
3) We have trouble with latency.
Please contract Brent Tiner to help with these issues.
Thank You
| technical issues |
Tim I thought I would give you a simple overview of the gas market.
This may help you prepare for Thursday.
Everyday roughly 55 Billion Cubic Feet of gas is produced.
The bulk of this production is in Texas, Louisiana, and Oklahoma.
In the winter, the US daily load is greater than 55 BCF and in the summer, the daily US load is less than 55 BCF.
Therefore, storage fields are needed to smooth out the seasonal differences in load.
Texas and Louisiana are two of the largest consumers of natural gas.
However these states produce more gas than they consume.
Most other states consume more gas than they produce.
Therefore pipelines were built to solve the regional imbalances.
Most of these pipelines originate out of LA and TX and move gas to the areas of greatest demand.
Our goal is to gain a handle on where the daily production is moving and if the daily production is growing or shrinking.
Very simplistic, but maybe it helps.
Hunter
| Gas Market |
Brad Today (06-15-2000) I reiterated to Theresa on a recorded telephone that she must be profitable in the second half of the year.
I believe that my exact statement was "If you are not profitable the next months we are going to have another talk".
After thinking about it afterwards, this statement is probably too vague.
Do I need to clarify this statement?
Should I define the exact amount of profit?
Should I explicitly say that I will ask her to leave the group?
Your help would be appreciated.
Hunter
| Theresa |
Any more documentation on this deal?
Midwestern Gas Transmission 5/18/00 - Midwestern filed notice of a negotiated rate deal with Dynegy.
It provides for a monthly reservation charge of $.025/dth and a tiered indexed commodity rate based on spreads.
If the index spread is less than or equal to $.02, then the daily commodity rate shall be $.01.
If the index spread is greater than $.02 but less than $.10, then the rate shall be 50% of the spread.
If the index spread is greater than $.10, then the rate shall be $.05 plus 75% of the spread exceeding $.10.
The deal is effective 5/1/00 through 10/31/00.
| Midwestern |
Laura Dave Forster from Eol may be calling you.
I am trying to get the Hub online and I am having trouble because Enron does not own more than 50% of the Midwest Hub.
An EOL lawyer may have found a solution.
I have asked Dave to call you.
I wanted to give you a heads up.
Thanks
| EOL |
Trunkline LNG Company 5/18/00 - Trunkline filed for approval of a new rate schedule (LLS) for LNG= =20 Lending Service.
It is patterned on PALS services=01*short term loans, wit= h=20 repayment within 31 days.
any opportunities for us?
Hunter
| LNG |
John The questions that Gas Daily is receiving most likely pertain to the issue that Nicor was closed on Friday but the weekend index published substantially different from the Thursday index.
We did not transact at Nicor City Gate on Friday and did not submit a change in trades to Gas Daily.
I will discuss this with you tomorrow.
| Chicago Midpoint pricing for December 21, 22, and 23, 2000 |
Houston Angel Network members: HTC is pleased to present SnapStream Media to the Houston Angel Network.
For additional information, please contact Rakesh Agrawal, CEO, Co-founder of SnapStream Media.
In addition, I have attached the summary as a Word document for those of you who have requested it.
As always, your feedback is greatly appreciated.
Best regards,
| HAN Opportunity-SnapStream Media: |
Bros, This was sent to me by my daughter-in-law-to-be.
Tell me the dancing one doesn't bring back memories of early 70's Beta parties.
Yours in -kai-,
| [smu-betas] Fwd: This is one of the funniest things I've ever seen... |
Just wanted to let you guys know that Geoff unsubscribed from our Betas yahoogroup today.
He did not re-subscribe with another email address.
I'm only speculating now, but his email address was with TWA and we know that TWA was acquired by American Airlines, and the airlines are a mess right now.
So, if you know of any other contact addresses with Geoff, get in touch with him and let us know how we can keep him in the loop.
Geoff spent many years in the USAF, so hopefully he's not heading into some covert operation in Afghanistan.
stay in touch with the brothers.
| [smu-betas] keep on the lookout for Geoff Anderson |
Both of you met Gary Remy, the new CEO of Datacentric Broadband, at yesterday's YPO meeting.
Datacentric Broadband is a woman owned company that we invested in last year which is developing a last mile solution for wireless broadband access in smaller cities throughout the U.S.
They have done previous work for EBS including providing a link from the Doubletree Hotel to the network for one of EBS' employee meetings.
After yesterday's YPO affair they had another meeting with EBS and McCloud Cellular discussing further business relationships.
We believe that Datacentric Broadband offers a solution that is very valuable in today's marketplace.
Any relationship that can be developed with EBS would enhance the prospects for more rapid development of the Datacentric business plan and I assume would be very beneficial to the success of EBS.
Let me know if we can do anything to move the relationship along if you agree that it is important to do so.
Thanks for visiting with Gary and doing anything you can to help develop a stronger tie between Datacentric and Enron.. Gene
| Datacentric Broadband |
The migration of UNIX home directories and applications (Solar) scheduled for this weekend has been moved to the weekend of October 13 and 14, 2001.
Further information as to times and problem escalation procedures will be posted early next week.
Bob Ambrocik Enterprise Storage Team EB 3429F x5-4577 bob.ambrocik@enron.com
| Solar Migration - DATE CHANGE - VERY IMPORTANT |
In order to bring better legal coordination and standardization to Enron's Risk Assessment and Control (RAC) group, we have formed a new legal group, which will initially include Lisa Mellencamp (Finance), Marcus Nettelton (Power Trading), Carol St. Clair (Broadband/Power Trading), Mary Cook (Financial Swaps), Peter Keohane (Canada), Ed Essandoh (Retail), Paul Darmitzel (Retail) and Elizabeth Sager (Power Trading) (Team Leader).
This group will focus on, among other things, managing Enron's exposures with bankrupt counterparties, working out credit solutions with distressed counterparties and standardizing our overall credit practices.
The initial members in this group have been drawn from Enron's numerous legal groups in order to gain a broader perspective.
Each of these members will provide support to this new group in addition to their current responsibilities.
Within RAC, Michael Tribolet will focus on distressed counterparties, in conjunction with Bill Bradford, who continues to manage the Credit Risk Management group.
Please join us in supporting the efforts of this new group.
| New Legal Team to Assist RAC |
During the weekend of October 6 and 7, 2001 the Enterprise Storage Team will be migrating all production users off the current hardware (Solar) that houses their home and application directories (no production databases are affected, but client software will be) to new hardware.
This migration requires a total system outage of approximately 6 hours.
The outage will occur Saturday night - beginning at 7:00 PM and will last until Sunday morning at 1:00 AM.
All users will need to be logged off during this time period.
In order to validate the migration, production users need to test access to their home directories and applications on Sunday, October 7, 2001.
If you do you experience any difficulties after the migration with access to home directories or applications, please call the resolution center at 713 853-1411.
The resolution center will notify the appropriate resources.
The following attachment is a list of the mount points affected.
Bob Ambrocik Enterprise Storage Team EB 3429F x5-4577 bob.ambrocik@enron.com
| Solar Migration - Third Notice - Time Change!!!!! |
Jeff, Contract management has become a big issue in most Fortune 1000 companies because of the risk to market capitalization that obligations in corporate contracts pose.
I think that Enron executives would be very interested in the articles hot linked below.
I would be glad to spend time with your organization to investigate the impact of enabling contract management best practices at Enron.
diCarta provides the first web-based contract and revenue management solution that enables businesses to negotiate, track, manage, and renew contracts via the Internet.
We have had tremendous success in helping companies like Kraft, BEA Systems, Intuit, Agile, Ernst&Young, Deloitte Consulting and many others gain visibility into their contracting and revenue management processes while mitigating financial and legal risks.
Below is the diCarta solution overview then links to recent articles including our partnerships with Arthur Andersen and Deloitte.
diCarta's Focus: diCarta Contracts automates your entire contract lifecycle including negotiations, execution, revenue management, maintenance, and renewals on both the sell-side and buy-side.
Your complete contract information will now be in one central location, on-line, for down-stream revenue, obligation, and renewals management.
This is enabled by a direct link of the unstructured data in the contract to structured data, which allows you to take automatic actions based on the actual contract Ts&Cs.
To maximize communication and efficiency, diCarta Contracts was specifically designed to be a collaborative application using role-based security.
E-signatures are supported as well.
Negotiation: You can negotiate contract Ts&Cs on-line with an internal approval workflow to manage risk.
Not only will you shorten your quote-to-cash cycle, but reduce your legal and financial risk by having on-line visibility into what Ts&Cs you are approving before the contract is executed.
Revenue Management: On the sell-side, you will have a framework for revenue recognition per the FASB and SEC guidelines that is driven directly from the contract Ts&Cs.
Now you can manage your revenue recognition risk, significantly reduce labor, and avoid possible non-compliance.
This is extremely important as companies struggle with adherence to SAB 101.
On the buy-side, you can proactively track expenditures.
| SAB101/Contract Mgmt. Best Practices |
Brother Betas, It sounds as if I will be a fresh fish in your established group.
I graduated from SMU in December of 2000 and am currently working in Houston.
I am originally from Houston as I am sure at least a couple of you are as well.
During my tenure at SMU I served as Treasurer of the Gamma Omega chapter my sophomore year and then went on to serve as Treasurer and Secretary of the Interfraternity Council through my junior and senior years.
I now look back on my days as a Beta and wonder what I was thinking when I decided to graduate.
The friendships I made and times I enjoyed will stay with me through my life.
I am also one of the two co-organizers of what I would like to see become an annual Beta tradition, the Distinguished Beta Award.
An event held to honor one of our brothers who have distinguished themselves as exemplary and provide a setting to rekindle old friendships as well as have a great time.
As I am sure some of you were part of the list of people I called last month to inform you that the event had been postponed until this upcoming spring, which has proved to be a blessing in light of the tragic events that occurred Sept. 11, I would hope that this website may become a forum to both share ideas on the future of the event and information in regards to the event.
| [smu-betas] RE: new members (Justin Loweth) |
Please respond to April 25, 2001 Dear Jeff, Thank you for setting aside time to meet with me.
I have attached my resume to help bring you up to date on my career.
As you will see, I have been providing advisory services since 1995.
During these years, I have done some of my best work.
I am proud of the service that I have rendered as an independent consultant.
Now, I feel it is time to move to a new chapter in my career.
I look forward to sitting down with you to think through ways to apply my experience, intellect and energies to new professional challenges.
I respect you tremendously, and wherever the next part of my career may lie, I know that my search and choice will benefit significantly from your perspective.
Finally, I am attaching the recommendation to HBS that you wrote in 1981.
I found it during a profoundly challenging period in my life.
Your historic words of support helped me keep fighting and successfully moving forward.
If you would like to reach me before our meeting, please call (213) 926-2626 or email kevinscott@onlinemailbox.net .
Thank you again.
| Information for Jeff Skilling from Kevin Scott |
INCREDIBLY LOW TRAVEL COST TO CALGARY ZIFF ENERGY GROUP PRESENTS THE NORTH AMERICAN GAS STRATEGIES CONFERENCE Join Ziff Energy Group in Calgary from November 5 - 7 for the North American Gas Strategies Conference, and receive Airfares as low as US$403 Don't miss North America's top-rated gas conference featuring an incredible roster of speakers from the upstream and downstream sectors, covering the current "hot topics."
HEAR ABOUT: the near term impact of current low gas prices on drilling activity and gas supply the new U.S. energy policy and its potential impact, from top-level government official Vicky A. Bailey the Alaskan pipeline project - will there be a pipeline in the near future?
What will be the impact be on Canadian & U.S. gas prices if there isn't?
The outlook for gas prices, and perspectives from senior executives of leading Canadian & US gas-oriented companies in an Executive Roundtable session that provides in-depth discussion on shallow gas, prospects in deeper zones, unconventional opportunities including coalbed methane, impending discoveries, technological breakthroughs, and economics.
TAKE ADVANTAGE OF NEW REDUCED AIRFARES FROM THE U.S. TO CALGARY - Airfares available for as little as US$403 from Farebuster Travel by calling Dave or Lisa at (403) 238-0777 or 1-877-671-1011 Calgary's new top hotel (Hyatt Regency) is offering a special rate of US$100 for Ziff Energy conference registrants.
Call (403) 717-1234.
| North American Gas Strategies Conference - REDUCED AIRFARE TO CAL GARY |
During the weekend of October 6 and 7, 2001 the Enterprise Storage Team will be migrating all production users off the current hardware (Solar) that houses their home and application directories (no production databases are effected) to new hardware.
This migration requires a total system outage of approximately 4 hours.
The outage will occur Friday night - Saturday morning between the hours of Midnight to 4:00 AM.
All users will need to be logged off during this time period.
If this is not possible, contact Adam DeRidder (x3-1428) or Carlos Uribe (x5-8179) as soon as possible.
In order to validate the migration, production users need to test access to their home directories and applications on Saturday, October 7 and Sunday, October 8, 2001.
As part of the migration plan, the Storage Team needs volunteers from the production community to test the new environment.
The test will only require approximately 15-30 minutes to complete.
Adam DeRidder and Carlos Uribe have setup a test lab on the 34th floor for this purpose.
Contact Adam to setup a time.
Your involvement will help make this a successful migration.
A list of contacts will be made available on Thursday, October 5, 2001.
Please use this list to report issues and check the status of the migration.
Bob Ambrocik Enterprise Storage Team EB 3429F x5-4577 bob.ambrocik@enron.com
| Solar Migration - Second Notice |
Good Tuesday Morning - Comments From The Local Guys!
The Federal Reserve has just cut interest rates by 50 basis points.
This was pretty much expected.
In the statement, the Fed.
members indicated that the "terrorist attacks have significantly heightened uncertainty in an economy that was already weak.
Business and household spending as a consequence are being further damped.
Nonetheless, the long-term prospects for productivity growth and the economy remain favorable and should become evident once the unusual forces restraining demand abate".
The 30 -year bond yield is 5.32%.
| The Morning Market Call - Tuesday October 2nd, 2001. |
There is still time to make your reservation to the attend the October 8 HBS luncheon.
Reply now!
Who is going to be the next mayor of Houston?
How does local government contribute to the fostering and enhancement of key factors that contribute to Houston's economic vitality and quality of life?
Who's the right person to lead and direct the government for the next two years?
Houston residents will be pondering these and other related issues when they vote this November for the next mayor.
Join the HBS Club on October 8th as the mayoral candidates share their views on the future of Houston.
Houston is facing major issues and each candidate will present his thoughts on what needs to be done to continue Houston's growth as a premier city.
Following a fifteen-minute presentation by each candidate there will be a short question and answer period.
SPEAKER: Mayor Lee Brown, Council Members Chris Bell and Orlando Sanchez
| HBS October 8 - REMINDER |
The following meeting announcement may be of interest to members of ACG members.
If you would like to attend, please reply to Dottie Kerr as soon as possible.
Stuart Tillman, president ACG Houston Chapter Who is going to be the next mayor of Houston?
How does local government contribute to the fostering and enhancement of key factors that contribute to Houston's economic vitality and quality of life?
Who's the right person to lead and direct the government for the next two years?
Houston residents will be pondering these and other related issues when they vote this November for the next mayor.
Join the HBS Club on October 8th as the mayoral candidates share their views on the future of Houston.
Houston is facing major issues and each candidate will present his thoughts on what needs to be done to continue Houston's growth as a premier city.
Following a fifteen-minute presentation by each candidate there will be a short question and answer period.
SPEAKER: Mayor Lee Brown, Council Members Chris Bell and Orlando Sanchez
| ACG Invitation to HBS October 8 - Mayoral Candidate Panel Luncheon |
Gamma Omega Beta Bros., Greetings from colorful Vermont.
Recently, E.Wooglin.Com has approved 2 requests to be a member of our SMU Beta Group: Justin Loweth A. Carty I am not familiar with either of these fellows as is the case, I'm sure, with many of our members.
Under the circumstances I thought that it would be appropriate to ask each of you guys (y'all...if you prefer) to reply to this message with a message of your own.
We want to know who the hell you are.
Please include an introduction and any other appropriate information that will get us better acquainted.
For your information: We are Gamma Omega Betas.
Most of the members were in the class of '75.
There are also members from earlier and later classes ('72 thru '78).
This e-mail group was established to facilitate continued contact among old friends, providing a forum for organizing reunions, other get togethers and sharing important "family" information.
Everyone seems to be able to accomplish these tasks with a great deal of humor and foolishness.
We look forward to becoming acquainted...and hopefully entertained in the process.
| [smu-betas] new members |
Good Monday Morning - Comments From The Local Guys!
The Federal Reserve meets again tomorrow.
The wide consensus is that they will lower short-term interest rates again by 50 basis points.
At this stage, the markets have factored in a virtual halt in the economy and consumer spending.
There is no good news that anyone is anticipating.
Often, the consensus is wrong.
In fact, it seems that the low in consumer sentiment has coincided with major lows in the market.
Over the last 15 months, inventory levels have declined significantly.
There has also been a great deal of fiscal and monetary stimulation.
The dollar is strong.
The markets may react more positively to any unexpected good news than anyone anticipates.
The 30 -year bond yield is 5.37%.
| The Morning Market Call - Monday October 1st, 2001. |
=20 =09Join some of the 40,000+ PowerMarketers.com readers at the Power Mark= eting Association's Annual Washington DC Meeting: Energy Policy and Its = Impact on Energy Markets October 16-17, 2001 Washington, D.C. =09 =09POWER MARKETS 2002: Energy Policy Conference & Exhibition =09 =09TWO Keynote Addresses: Day One: Honorable J. Bennett Johnston, = Former Chairman of the Senate Energy and Natural Resources Committee: EN= ERGY AND TELECOM CONVERGENCE Day Two: Commissioner William Massey, FE= RC: THE UPCOMING AGENDA AT THE FERC Register by October 5 and receive = the Power Marketing Association Member's Rate.
Save up to $245 over reg= ular nonmember rates!
Click Here to Download brochure!
http= ://www.pmaconference.com/fall2001/0110RT.pdf =09 =09AGENDA=09 =09DAY 2: Wednesday, October 17, 2001 8:30 a.m. CREDIT RISK AND ITS MANAGE= MENT - (Special early morning session) Scott Ettien, Vice President and Tim= Moore, Senior Underwriter, NCM Americas.
Price differentials aren't always= about time and location-- sometimes they are about the likelihood of being=
| Energy Policy and Its Impact on Energy Markets |
Attached is a the agenda, minutes of previous meeting and the "new and Improved" gift acceptance policy.
Please let me know if you are unable to attned the meeting.
Thanks, Bob
| Oct. 3rd meeting |
Dear Jeff, Been a while.
Hope you are yours are doing OK after the tragedies in NY and DC.
Unfortunately, I lost a friend who was working at WTC.
Been a bit hard to get back to the normal aspects of life.
Will update you on some of the more relatively mundane but exciting developments on my end soon.
Currently just starting discussions for a potential CEO role at an enterprise software company.
Hope things go well for you.
Regards,
| You OK? |
My apologies to all.
Earlier today you received an email with the HAN Angel application attached, instead of the company application.
Therefore, I have attached the correct file.
Sorry for any confusion.
Please call me at (713) 533-9986 if you have any questions.
Regards,
| HAN Company Application |
Shacklepuss, Yet another EWooglin.com recruit!!
I don't even remember how I signed up on this deal, much less how to tell Joe Parks.
Can you email him please and give him the instructions?
Thanks Shack.
| [smu-betas] Fwd: |
Hey All: hope this finds you doing well and getting ready for cooler weather.
A Closer Look is entering it's 8th year, but the real purpose of this e-mail is to announce the launch of our new sister website, WiseShops.
This is an e-commerce site where a business owner can order a professional mystery shop on-line.
After the order is placed on-line at our secure website, it is then filled with one of our qualified shoppers.
I value your opinion and would really appreciate it if you would do two things: Access the website, www.WiseShops.com and let me know what you think about the site and the concept.
Any and all feedback would be helpful.
Forward this e-mail and the site to anyone who you think might benefit from professional feedback for his/her company.
If they do not own a restaurant, hotel, or retail establishment, we will be adding a number of other types of businesses in the very near future.
Looking forward to hearing from you and thanks for your help, Chuck
| New Website |
Good Friday Morning - Comments From The Local Guys!
We read a great quote today.
It was published by a technical newsletter which we are privileged to receive.
"When people are emotional, it is difficult to envision a market environment that is opposite of what is making them so emotional in the first place" - Unknown.. We believe the market is in the early stages of repair.
While we may have a rally over the next few weeks, we are on the lookout for a successful retest of the mid-September lows.
If this were to occur, we would expect to see this coincide with positive technical market readings.
What to do in the mean time?.
This is the time to upgrade portfolios in anticipation of a longer term recovery.
The 30 -year bond yield is 5.50%.
| The Morning Market Call - Friday Sept 28th, 2001. |
Ken/Jeff: As part of the Culture Committee discussions, "Leadership" has been identified as an area of concern at Enron.
There are of course many definitions of leadership and, as such, we would like to define leadership as it applies to Enron's culture and business objectives.
As a result, we think it is important to meet with each of you to discuss your views of how "leadership at Enron" should be defined.
We believe the best way to achieve this end is to discuss with each of you: 1.
The criteria you used to choose Enron's current business leaders.
2.
The attributes you believe Enron's leaders should possess.
3.
Whether or not and to what extent you believe leadership impacts the bottom line at Enron?
We would prefer to have this discussion with both of you together.
But that may be an impossible task.
I will speak with each of your assistants to arrange a convenient time to discuss these issues.
Thanks
| Leadership Subcommittee of Culture Committee |
HEY TEAM - CONGRATULATIONS !!!
TEAM ENRON, the growing wonder of the cycling world, has done it again!!
We successfully completed another MS150.
The great weather, fabulous volunteer support, and team camaraderie made it the best ever.
I can still see those Enron jerseys whizzing by, and it seems there was always an Enron jersey in sight both days.
The advantage for me in starting first is that within a couple of hours, I get to see all 9,000 riders as they pass by, and no matter how many years I've done this, it's still a thrill to be part of such an awesome event.
Thanks to Jeff Skilling, CEO of Enron Corp., for setting such a fine example for the team by riding all the way to Austin.
He is now a veteran of the 1998, 1999, 2000 and 2001 Tours.
He looked really good on his new bike, wearing the infamous #1 on his helmet....and he beat his own best time into Austin with a12:00p arrival!
Other notable performances: Mark Muller & Dan Leff (In memory of Mark Muller's father whose birthday was April 21) straight through from Houston to Austin, arriving 3:15p on Saturday (not that I would take their word for this remarkable feat, but I have an eye-witness) Top Times Into LaGrange: Charles De Lacey Pete Link Mike Bradley Chuck Howell John Fairchild Kelly Strader Debra Weir Frank Karbarz Steve Shannon Peter Bennett Michael L. Grant Michael Napper 11:15 11:37 11:40 11:40 11:53 12:32 12:42 12:50 12:51 12:58 12:59 12:59 Top Times Into Austin: Pete Link John Fairchild Peter Bennett Frank Karbarz Kellie Metcalf Kris Saadeh Daryl Dornhoefer Michael Napper Corby Clark Charles DeLacey Jeanne Anne Klein Jay Hachen Kelly Strader Nick Rahn Joe Schumacher Eric Sullivan Stacey Tovino 10:31 10:35 10:40 10:45 10:58 11:02 11:05 11:05 11:10 11:15 11:20 11:25 11:25 11:25 11:25 11:25 11:25 Thanks to all our support who made this possible - Co-Captains Stephanie Strong and Becky Pham, Bike Officers Kelly Strader, Charla Reese, Patrick Scales, Stephanie Baker, and Dan Lyons,Team Consultant.
| WE DID IT AGAIN! |
The reservation deadline for the October 6 boat cruise has been extended.
There is still time and space available so you won't miss any of the fun!
Complete the information below to make your reservation today.
The HBS Club is sponsoring an event on the Star Cruiser, a 90 foot luxury entertainment yacht.
Bring your spouse or a guest and enjoy an evening out with dinner and music and see the sunset and the lights of Kemah!
| HBS Boat Cruise - REMINDER! |
Attn.
: Mr. Jeffrey K. Skilling, Chief Executive of Enron Corporation Below you will find the EXECUTIVE BRIEF for the referenced project for your perusal.
Attached to this email you'll find the following MS Word files: 1.
"OES Mgmt Bios" 2.
"OES Exec Brief " containing Proforma & Use of funds information.
Please indicate interest via fax and email furthermore, the following confidential information from the Directors/Promoters are available, upon request, for your perusal: ?
Detail Business Plan.
| OCTANE ENHANCEMENT SYSTEMS, USA |
Dear WTN Members, WTN Associates, and other WTN friends, On behalf of the membership of the World Technology Network, I wish to express deep, deep condolences to the family, friends, and colleagues of one of our members, Daniel C. Lewin, aged 31, who perished on 11 September on American Airlines Flight 11 as it was deliberately crashed into the World Trade Center in New York.
Over a year ago, Danny (along with, Tom Leighton, his fellow co-founder of Akamai Technologies) was inducted into the WTN membership as a co-Finalist for the World Technology Award for Commerce.
All those who are even nominated for a World Technology Award, such as yourself, are singled out for doing work of "the greatest likely long-term significance."
It is, therefore, even more tragic and non-sensical that a person such as Danny, who so purposefully engaged in a process of hopeful and innovative creativity, should be a victim of an act of such purposeful negation of innocent life.
We mourn all of the victims of the constellation of tragedies that occurred on September 11th and, in particular, we re-salute you, Mr. Lewin.
The world will miss you.
Your life was clearly already marking the future.
I suspect somehow it now shall do so even more.
Onward, James P. Clark Chairman The World Technology Network
| Mourning the sudden, tragic death of WTN member, Danny Lewin... |
Good Wednesday Morning - Comments From The Local Guys!
As can be seen below, Lehman is adjusting the earnings estimates for the S&P 500 in the wake of events on September 11th.
See below.
The 30 -year bond yield is 5.50%.
| The Morning Market Call - Wednesday September 26th, 2001. |
Dear Jeff, This will introduce an outstanding Information Security Executive who is available in the near term through the CIO Club.
Executive Summary: 15 years of management experience in the planning, design, development, and implementation of information security policies, controls, services and systems.
Most recently VP Information Security for the World's Largest Bank Group with responsibility for North and South America.
Prior information security management experience with Insurance, Telecommunications and Health Care Companies.
MA in Finance, BA in Mathematics Experience Detail World's Largest Bank -06/98
| Information Security Executive -092501 |
Jeff and Christie: It was a pleasure having you here on campus.
Let me add my thanks to those of the Entrepreneurial Manager faculty who actually taught the case.
I think your presence added enormously to the success of the maiden voyage of this case.
As I indicated to you, I want to make the case even stronger by incorporating any additional data or suggestions that you may have after seeing it taught.
Jeff, you indicated you had a couple of quick corrections, and I'd appreciate receiving those.
Also if you have any thoughts about how we might enrich the case, those would be welcome too.
Christie, as indicated in our discussions, I think some sense of the economics of Enron Online would be enormously helpful.
Even if we have to use disguised data, can we break out the sales and profitability of the trading operations before the launch of Enron Online.
With some indication of what the new Internet-based model will do to margins, students can do some simple calculations of the volume necessary to compensate, and therefore have some idea of the enormously ambitious (and significantly risky) venture that this turned out to be.
I will gladly talk further about this with you directly or with whomever you want to put me in touch with.
Let me emphasize that the data do not have to be actual data--we can
| Your campus visit |
What is going to happen in the Middle East?
Don't miss this exciting event, join the HBS Club today!
We have many events planned that address both local and national concerns and also give you the chance to meet other Houston area alumni.
The deadline is approaching for the luncheon with Ambassador Edward Djerejian, the founding director of the James A. Baker III Institute for Public Policy at Rice University.
The Middle East has taken on an even greater importance in recent days and Ambassador Djerejian is a renowned expert and speaker on this area of the world.
SPEAKER: Ambassador Edward Djerejian, Director of James A. Baker III Public Policy Institute at Rice University
| HBS October 2 Lunch - REMINDER |
Good Tuesday Morning - Comments From The Local Guys!
If the market has indeed put in a bottom over the last few days, be prepared for us to 'retest' the lows.
A successful test, is what is needed, followed by a meaningful rally!
The market has already factored in most of the bad news from corporate America.
We may also see individual stocks rise after releasing bad news.
This would also prove to be very meaningful.
Look to use this period to upgrade portfolios.
The 30 -year bond yield is 5.57%.
| The Morning Market Call - Tuesday September 25th, 2001. |
Ziff Energy Group presents eSolutions: Next Generation Concepts for the E&P Sector November 7, 2001 Calgary, Alberta Conference co-sponsored by global leaders in e-business solutions: SAP Canada, Schlumberger Oil & Gas Information Solutions, IBM Canada How would you like to harness the power of "e" to improve your E&P company's bottom line?
You can.
Attend our eSolutions conference and learn how you can improve your E&P business significantly by leveraging e-technology for operational and financial results.
Recognized eSolutions experts will focus on the three key ways in which you can do that: 1.
PROCESS You know how important efficient processes are to the competitiveness of your business.
Nothing helps your people identify and improve internal processes better than e-technology -- from enterprise and e-procurement solutions to collaborative tools and geotechnical systems.
eManaged processes are essential for advancement in the new economy.
Find out how to do it better, faster and more economically.
| eSolutions - Next Generation Concepts - Ziff Energy Group |
Dear HBS Alumni: Who is going to be the next mayor of Houston?
How does local government contribute to the fostering and enhancement of key factors that contribute to Houston's economic vitality and quality of life?
Who's the right person to lead and direct the government for the next two years?
Houston residents will be pondering these and other related issues when they vote this November for the next mayor.
Join the HBS Club on October 8th as the mayoral candidates share their views on the future of Houston.
Houston is facing major issues and each candidate will present his thoughts on what needs to be done to continue Houston's growth as a premier city.
Following a fifteen-minute presentation by each candidate there will be a short question and answer period.
SPEAKER: Mayor Lee Brown, Council Members Chris Bell and Orlando Sanchez
| HBS October 8 - Mayoral Candidate Panel Luncheon |
Jeff: If you are in town this week, the weather should be great for golf.
Let me know if you are available and we can go hit the ball.
Best regards,
| Golf |
Good Monday Morning!
Abbreviated Edition.
IMPACT CALLS Internet Security Israel Hernandez Company Updates/Rating Changes q Investment Conclusion: Below are specific company updates and our views on each company in our coverage universe.
Reiterating our thoughts published on September 17, we believe last week's attacks are likely to cause numerous short-term disruptions that put the September quarter at risk for all the security software vendors, particularly those vulnerable to discretionary spending cuts or large deals.
In light of recent events, we are adjusting our ratings on two companies.
We are raising our rating on VeriSign from a 2-Buy to 1-Strong Buy based on good earnings visibility amid a generally uncertain outlook for most software vendors.
We are also lowering our rating on Internet Security Systems from a 1-Strong Buy to 2-Buy to adjust for these uncertainties and lack of visibility.
While valuations for many of the companies are starting to look interesting, as a whole, we remain somewhat cautious on the security software vendors given the uncertainties introduced into the market over the last two weeks which could lead to more downward revisions in the September and December quarters and spill over in the first quarter of 2002.
Internet Secuirty Systems Israel Hernandez Downgrading from Strong Buy to Buy 2 - Buy / $13.00 (USD) q We are downgrading ISSX from a 1- Strong Buy to a 2-Buy rating to reflect the lack of near-term visibility, and changing economic backdrop that increases the likelihood of a potential shortfall to our Q3 forecast.
q Given the events of the past two weeks, we believe ISS and other security software vendors may run into difficulty closing business in a back-end loaded September quarter.
q We are lowering our price target from $35 to $20, or 4 x FY01 revenues of $223M, to reflect the increased economic uncertainty in the current environment.
VeriSign Inc Israel Hernandez Upgrading to Strong Buy from Buy 1 - Strong Buy / $38.30 (USD) q Given VeriSign's strong revenue visibility in a period of global economic uncertainty, we are raising our rating from 2-Buy to 1-Strong Buy making it our top pick in the sector.
q In light of the global slowdown, we believe VeriSign provides investors with exceptional earnings visibility given its services model and strong deferred revenue balance.
This visibility should enable VeriSign to sustain a premium valuation and outperform most technology stocks, even in a contracting environment.
q We believe new value added services laid on top of a relatively fixed cost structure will provide significant margin expansion, currently at 14.6% and growing to the low thirties in the next 2 years.
Oil & Gas: Exploration & Production Thomas R. Driscoll Some E&P Shares Now Appear Attractive q We are lowering our natural gas price forecasts as well as revising target prices and codes for the large-cap oil exploration and production companies we cover.
We now believe that several companies we cover offer compelling values today.
As a result we are upgrading our ratings on the shares of EOG Resources (EOG), Noble Affiliates (NBL) and Pioneer Natural Resources (PXD) from 2-Buy to 1-Strong Buy.
We are also downgrading our code on the shares of Devon Energy (DVN) from 2-Buy to 3-Outperfrom to reflect heightened concerns about the increased debt load that will result from recently announced acquisitions.
We are also downgrading our codes on Vintage Petroleum (VPI) from 1-Strong Buy to 2-Buy.
AOL Time Warner Holly Becker Fund.
Remain Strong In Unstable Environm 2 - Buy / $29.25 (USD) q The economic and advertising slowdown has obviously been compounded by recent tragic events.
AOL Time Warner remains the premier integrated media company with a uniquely valuable portfolio of assets.
While near-term estimates may need to come down further, we view the stock's pullback as a compelling buying opportunity.
q AOL Time Warner's core businesses offer investors superior earnings power and growth, while new cross-platform initiatives should propel the company's long-term growth rate to above industry norms.
q Advertising represents only 25% of revenue, considerably lower than comparable companies including Viacom (45%) and Disney (30%).
Gaming & Lodging Joyce Minor Rich Bottom Fishing, But Dangerous Water q The gaming and lodging sectors saw huge downside moves last week, with the large cap gaming stocks down an average of -33% and the lodging stocks down an average of
| The Morning Market Call - Monday September 24th, 2001. |
I visited with Joseph Kaye last evening.
He is now in a private room, and is healing as fast as he can.
He is able to sit up by himself, and can walk the hall with assistance.
His remarkable recovery is, no doubt, due to his equally remarkable attitude.
His left arm is in a cast, and he is in a lot of pain from the fractures to his face and the back of his skull.
It's difficult for him to eat because of the discomfort remaining from the intubation which had kept him alive immediately following the accident.
In spite of all the above, he looks toward his full recovery and wanted me to tell you that he knows he is alive because of your prayers.
He was proudly wearing an MS150 "finish" pin on his hospital gown which Pat Bertotti took to him, and was thrilled with the "finish" cap from Team Enron.
When I asked what he'd like to tell the team, he asked me to send you his love and his appreciation for your prayers.
He also asked that you always remember how precious life is, how precious our basic life functions are that we sometimes take for granted.....He shared with me that his Pedal Partner, Tim Hart, had come to visit him at the hospital to thank him for the effort he made to ride and raise money for MS. Joseph knows that the pain and struggle he has now will be gone in time, but that his Pedal Partner has year after year to deal with the circumstances of managing his life with MS. Joseph purchased, just before the tour, a great pair of sunglasses with prescription lenses.
They were totaled in the crash, and I thought it would be a good idea for the team to replace those glasses for him.
If you'd like to donate to this, please send your checks to me.
It wouldn't take much from each rider, and what we have left, we can donate to MS in Joseph's honor, since I'm sure he'll not be in any shape to collect his pledges before deadline, and I know he is concerned about the pledges he had promised.
He is very devoted to this cause.
Make your checks payable to Enron Cycling Club and send to address below.
(Please make sure if you are also sending a get-well card to Joseph to put your check in a separate envelope, as I do not open the correspondence you send to him.)
All riders donating to the glasses will have their names included on the presentation.
We have sent him a floral arrangmeent from the team for delivery today.
He enjoyed the mail you have sent, and if you have any more cards and letters please send to: Amelia Alder, Enron Corp., P.O.
Box 1188, Suite 3AC3120, Houston, TX 77251-1188 If you'd like to email him, please send to me and I will print out and deliver.
| GREETINGS FROM JOSEPH |
eSource Presents Hoover's Training Learn how Hoover's can help you do your job better and make your job easier with tips on: ?
Using advanced search to find the very specific information you're looking for ?
Researching the companies you've found using the entire Hoover's site ?
Reading/Using in-depth and comparative financials Attend one of our Hoover's training sessions: Sept. 25 1:00 - 2:00 PM 3AC4C1 Sept. 25 2:15 - 3:15 PM 3AC4C1 Sept. 25 3:30 - 4:30 PM 3AC4C1 The cost is $25.00 per person.
No-shows will be charged $50.00.
Seats fill up fast!
To reserve a seat, please call Stephanie E. Taylor at 5-7928.
| Hoover's & MindBranch Training |
Brothers, Grumps ended up being treated for really nothing.
Once they got a good look at the artery, they found it only to be 30% blocked (had been 100% blocked the surgery before) and there's really nothing to do with that small a blockage.
So, it's really good news.
Guess those echo cardiograms aren't always real accurate.
It showed it blocked, causing the second procedure to be prescribed.
All for naught, thank God.
yours in -kai-,
| [smu-betas] False alarm for Grumps |
Good Friday Morning - Comments From The Local Guys!
Over the years, we have tried to use this letter for purely business purposes and not to push any personal agenda.
However, now is the time to make some personal comments.
Everyday, we find it difficult to comprehend what we saw on that fateful Tuesday morning.
The enormity of the what was done, with out regard to life.
Nothing!
Who could plan such a thing.
Who would!
It is hard, very hard, to conceptualize what they did.
What type of mind would think to do such a thing.
And then have others who would agree that it was a good idea!
What type of people.
And the cheering!
We think of our fellow Americans (and others) who perished.
And the hero who gave their lives on the plane and on the ground.
We think of the heroes who did not give their lives.
We think of the friends that we never met!
The friends that we now will never meet.
How could humanity do what was done.
We think of our business associate Ira Zaslow, who is missing.
Our thoughts are with his family.
We think of all those who lost their lives.
We think of their families.
Lives snuffed out by people consumed with hate.
And not only lives lost last week.
We think of the missing generations to come.
Those generations that will never be!
Oh, the waste - for what!
Rally around America.
Rally around Democracy.
Rally around what is right!
There is no equivocation about Right and Wrong!
Life is sacred!
Those who disregard life, are the ones who will be condemned for eternal damnation!
There, it has been said.
The following comment was written yesterday, but was never sent.
The bottom line is go out, buy stocks and go out and buy in the shops and malls.
And light a candle to never forget!
"The market is very oversold.
We are seeing many technical readings similar to those we saw at the bottom of the markets in 1987, 1990, 1994 and 1998.
These are very strong signs of market capitulation.
For example the VIX (volatility) Index is at a peak that is normally seen at market bottoms.
Short Interest is at record levels - a good sign.
Money Market assets (the amount of cash on hand), is almost equal to 19% of the entire capitalization of the stock market - a very high degree of liquidity.
The number of market advisors who are negative on the market, is now greater than the number who are positive on the market - a traditionally bullish signal.
The PUT/CALL ratio has been very, very high all week - at turnaround numbers.
The Fed.
has reduced rates now 8 times and liquidity in the system is high.
Inflation is low.
Just when the market is NOT expected to rally, it will.
That is the nature of a bottom.
Let's hope that all these technical readings turn the market sooner rather than later.
Now is the time."
IMPACT CALLS Natural Gas Peggy Connerty A Safe Harbor in a Storm We continue to believe the Master Limited Partnership sector will remain a safe harbor for investors as the economy teters on the brink of a recession.
Given the possible recessionary environment, Monday's 50 basis point cut in the federal funds rate (now 3.0%), and the relatively few alternative investments available, we continue to be bullish on the MLP sector.
MLP's in general are defensive in nature, provide income and have decent growth prospects.
The cash distributions on most MLP's are protected with solid coverage ratios (with distributable cash averaging 115% of cash distribution).
Therefore, we believe the MLP sector should hold up during this time of economic and political crisis.
Please refer to our note titled "Weak Economy, Low Interest Rates Bode Well for MLP's" published September 11, 2001.
PC Software - Microsoft Michael Stanek Trimming Estimates to Match Reality Trimming estimates to match reality We are cutting our estimates for FY02 from of $28.8B to $27.7B in revs and EPS from $1.93 to $1.86.
Microsoft has never been as well positioned as it is today.
Overall we have made the majority of our cuts in the December and balance of the Q's in '02.
The stock is down in the wake of sliding economic conditions, and exacerbated this recent tragedy.
Imaging Technology - Eastman Kodak Caroline Sabbagha Tweaking Revised Estimates With a little more information and insight, we are tweaking our estimates for 2001 and 2002.
For FY01, our estimate is now $2.60.
For FY02, we are lowering our EPS estimate to $3.20.
We maintain our 3 Market Perform rating.
We think the issues at Kodak are more than just the economy.
They include a technology transition and competitive pressures in its traditional businesses.
We are also beginning to get concerned about cashflow and therefore expect the balance sheet to be weaker than had been anticipated.
We think the stock should settle in the mid-$30s with the 5% dividend yield acting as a support for the stock.
New Media/E-Commerce - Amazon Holly Becker Amazon Update We expect AMZN, like most retailers, will suffer from the current political unrest.
This leads us to believe that even the low end of guidance of $625-$675mm in revenues may be difficult to achieve.
Our 4Q ests.
for breakeven operating profits and $900mm in cash hinge on our 4Q sales est.
of $1.1 B.
While it is too soon to tell, we will likely need to revisit these ests.
in the upcoming weeks.
About 6 weeks ago, AMZN lowered its book prices by approx.
10%.
While this was likely successful in increasing demand, the recent catastrophe in the U.S. will obviously offset the benefits.
On Sept. 11, AMZN announced a 5-yr alliance with Target Corp. in which AMZN will open a Target store at Amazon.com later this fall and power all of Target's online sites beginning in summer 2002.
While financially this agreement will be small, we see several strategic opportunities, which include expanding into new categories, enhancing direct vendor relationships and the possibility of utilizing Target's physical locations.
New Media/E-Commerce - eBay Holly Becker Well Positioned to Sustain Growth eBay's business appears to be relatively unscathed by the current political and economic events.
q On Sept. 18, eBay articulated they are comfortable with 3Q consensus of $186 mm in rev.
and $0.11 EPS (our ests.
are $185 mm in rev.
and $0.09 EPS).
eBay's listings dropped 30% on Sept. 11, however, the company expects listings and sales to recover to pre-Sept. 11 levels in the next few days.
We estimate eBay suffered from 1-2 days of lost sales.
Separately, the company announced ambitious plans to raise $100 mm in 100 days in response to the recent disaster at the World Trade Center.
Dubbed "Auction for America," the campaign enables sellers to list items on eBay, with resulting proceeds to be donated to various relief efforts.
The stock is down over 15% since Sept. 11 and is likely to bounce in the near term, however we remain cautious given its still rich valuation.
Semiconductor Capital Equipment - Applied Materials Edward White Announces Layoffs of ~10% Global Workfor Industry weakness and the events of last week have forced AMAT to change its strategy and join its peers in announcing layoffs.
We maintain our 1 Strong Buy rating but are cautious on the shares near term, given reduced visibility and the fact that shares are trading at a premium to historical trough levels.
In an important change in direction, Applied this morning announced layoffs of ~2,000 employees, roughly 10% of its global workforce.
Layoffs will result in a 4Q01 restructuring charge of an unspecified amount.
Since the last conference call the economic and semiconductor industry climate has continued to worsen.
This, along with the traqic events of last week, have left AMAT with zero visibility.
No immediate disruption in business has occurred, the company does expect some indirect impact.
AMAT remains committed to R&D and Field Support Engineers, and this should help the company ramp up quickly in the next upturn.
COMPANY / INDUSTRY UPDATE Wireline Services - Verizon Communications Blake Bath Achieves PA 271 Approval on Schedule VZ Achieves 271 PA Approval on Schedule; Opens a $5.5B Market and brings its total approvals to 4 states (NY, CT, MA, PA).
VZ is the clear leader in 271 approvals and has effectively delivered versus its public guidance in this regard.
271 entry is expected to add 63 bps to '02 total revenue growth and 84 bps to '02 growth.
LD-entry is a major catalyst for VZ and current valuations are cheap in the context of the contributions this catalyst should provide for the company.
Reiterate 1- Strong Buy.
VZ received 271 approval in PA on 9/19, in line with our forecasts, opening a $5.5B LD voice/data market for market.
The company also announced that it expects to file with the FCC for 271 approvals in NJ, NH, VT, and RI between Nov/Dec '01, putting it on schedule for approvals in these states between Feb/Mar '02.
In total, the PA approval and the upcoming 4 state approvals are expected to open a $12.7B market to VZ; in total, by mid-year '02, we expect VZ to be marketing to a new $33.1B LD market (within the BEL region); VZ is the leader in 271 approvals.
NOTES FROM TODAY Cosmetics; Household & Personal Care - Rayovac Ann Gillin Lefever Discretionary Spending Grinds to a Halt Rayovac's halved earnings expectations for the current quarter suggest both that consumer discretionary spending has ground to a halt; and that the retailer is battening down the hatches by postponing (and potentially cancelling) orders to further cut working capital levels.
As we noted yesterday, consumer staples companies tend to outperform during periods of economic stress.
However, today's news confirms that those with discretionery spending exposure are less likely to participate with strong relative earnings growth.
We remain concerned about Gillette's, Energizer's and Rayovac's exposure to batteries (where we estimate that discretionery spending is circa 60% of trend growth) as well as Gillette's exposure to a razor trade up strategy.
Our earnings estimates for ROV change from $1.28 to $1.03 for FY 01 (Sept.) and from $1.50 to $1.15 for FY 02.
Our FY 02 estimates are $ 0.10 - $0.15 below management's guidance due mostly to a more cautious view on battery category growth.
Our target has been reduced to $17 and we maintain our Buy (2) rating.
Gaming & Lodging - Hilton Group Joyce Minor Company Outlines Post-Attack Outlook Yesterday, Hilton hosted a conference call to update the investment community on the state of the company and its operating outlook subsequent to the terrorist attacks of September 11th.
Although no specific guidance was given, the company is hoping that poor travel trends last just 6- 12 weeks, followed by a return to normalized travel trends, albeit at a level stepped-down to 1998- 1999, not the better 2000 trends.
If EPS is a guide, note that 1999 EPS of $0.60 is -17% below our
| The Morning Market Call - Friday September 21st, 2001. |
Hi Jeffrey: My name is Pat Brandt and I am the Vice President of our E-Training Group here at the Legal Research Center ("LRC").
As you may know, we are the nation's leading provider of outsourced legal research and writing services.
In fact, LRC was recently named the 2nd best-performing small public company in Minnesota.
In addition to legal research and writing services, we also offer industry-leading, online compliance training - training that could help your organization in the event of a DOJ prosecution.
You can view our compliance modules at work or home, as long as you have access to the internet and a personal access code.
To receive an access code or more information, please call (800-776-9377) or send me a reply email.
Thank you for your time and have a great day!
Sincerely,
| Online Compliance Training |
I want to confirm our committee meeting at Paul's office on Oct 3rd.
at 7:30 am.
I also ask that you put Jan. 14th 2002 at 7:30 am on your calendar as our next committee meeting.
Thanks, Bob
| meeting |
I'd like to schedule a conference call with committee members ASAP.
Jeff spoke with the Mayor this afternoon and would like to update everyone on the conversation.
Does Monday, April 30, from 12 to 12:30pm work?
Please let me know ASAP - 713-345-4840.
Thanks,
| Conference call |
Dear friends and colleagues, All Europeans have been following the horrific events taking place in the US over the last few days and we are all extremely shocked by this tragedy.
We would like to extend our deepest sympathy to all Americans and sincerely hope that none of you (or relatives/friends/colleagues) has been terribly impacted by these events.
We are also very comforted when seeing American's determination, strength and confidence in the future.
Sigma Consultants
| Net@Home2001 Highlights |
One thing I forgot to mention this afternoon.
I have recently gone on the board of Kimberly Clark (Kleenex, etc).
They are a heavy user of both power and gas in their manufacturing operations, and it hurt their 1Q results.
I have been telling then that they should start a conversation with Enron relative to outsourcing the management of this.
As it happens, they have a pulp plant they want to sell, and your guys have an interest to help their trading operation.
In the discussions on the pulp plant, don't overlook the opportunity to bundle together a proposal on outsourcing the energy management.
Let me know if I can help.
Thanks for your attention to our problem.
| One other thing. |
FYI: Due to the non-standard operations for in the EOL Management Reporting Group, the daily Executive Summary report will be delayed.
Sorry for the inconvenience.
Thanks
| Executive Summary Information |
Good Wednesday Morning - Comments From The Local Guys!
The market is, at this stage, only focusing on the negatives in the marketplace.
The perception that this war on terrorism will be long and protracted - with the potential short-term impact to the economy being deeper than prior to September 11th.
However, the pace of economic spending by the administration may hasten the end of the economic downturn.
Hang in there.
IMPACT CALLS M&T Bank Brock Vandervliet Upgrade to 2-Buy, Compelling Valuation 2 - Buy / $67.16 (USD) We are upgrading MTB from 3 Market Perform to 2 Buy, based on valuation and solid fundamental performance.
Our estimates and target price are unchanged.
Going forward, we expect MTB to generate EPS growth of 11%, significantly better than the 8% group overall.
Banks - Citibank Henry Chip Dickson Citi Previews Stronger than expected 3Q Citi Previews Stronger than expected 3Q The September 11th Disaster is expected to reduce Citi's 3Q01 results by $0.12-$0.14.
Citi had expected to earn $0.77 for 3Q01, $0.02 better than consensus expectations despite a deteriorating economy and a challenging market environment.
The sources of 3Q strength appear to be many of the Consumer businesses, Emerging Markets, Fixed Income and productivity gains.
Based on the guidance, a weakening economy and global turmoil, we reduced our 2001 EPS estimate $0.18 to $2.87 and we reduced our 2002 EPS estimate $0.05 to $3.45.
q Our rating remains 1 - Strong Buy with a $70 price target.
Citi trades at, or just below, the median Large Cap Bank p/e based on 2002 estimated EPS despite the strength and diversity of its franchise.
Integrated Oil - European Recommendation Downgrades Jeremy Elden Low risk, but low recovery potential Following last week's tragic events, we are leaving most of our price targets unchanged.
The larger companies now look cheap in absolute terms.
However, we expect equity markets to rally even more strongly, leaving the oil sector behind and perhaps making the current position a long-term relative high point for the sector as seen in 1979/80 and 1990.
For now, the sector has the advantage of being lower risk but, once investors feel more comfortable with the economic and political outlook, they may move elsewhere.
Oil supply currently unaffected Demand expected to fall Eni and TotalFinaElf have greater exposure to Mid.
East/N.Africa Repsol YPF price target cut to E17.5 from E18.4 ENI rating cut from Strong Buy to Buy TotalFinaElf rating cut from Buy to Market Perform Oil & Gas: Exploration & Production Thomas R. Driscoll Outlook-Shares in Light of Development Recent events do not substantially change our view of intermediate-term oil and gas fundamentals.
We remain cautious on the E&P sector overall but we are looking for selective purchase opportunities.
Near-term prospects are that oil prices may be higher than we previously thought.
Weakening economic activity may hurt natural gas demand and lead to a more prolonged natural gas oversupply situation - and weaker natural gas prices.
E&P shares fell 1-6% on Monday and we are looking for entry points.
Both EOG Resources and Noble Affiliates appear to be more than 10% below our estimate of fair value.
COMPANY / INDUSTRY UPDATE Beverages Michael Branca Consistency & Predictability Uncertaiin From an earnings stability perspective, the beverage industry will plainly be hurt by recent events and increasing recessionary pressure in the near-term.
But, historically, the industry has still generated relatively consistent profit and cash flow growth -- even during
| The Morning Market Call - Wednesday September 19th, 2001. |
Dear Mr. Skilling, Please accept my invitation to visit Carlton Woods in The Woodlands.
This will be a great opportunity for you and your family to come inside the gates for a first hand look.
Carlton Woods is the only guard gated, private country club neighborhood The Woodlands has ever created.
Along with a private Jack Nicklaus Signature golf course, the neighborhood will boast amenities never before seen in this part of the Houston area.
You'll have the opportunity to view over 30 homes under construction in various stages.
Homes for sale in Carlton Woods range in price from the high 400s up to over 2 million.
We also have an excellent selection of homesites available for purchase with no time frame to build.
If you would like a Carlton Woods discovery package mailed to you, please respond to this E-Mail and I will send one to you.
Regards,
| Carlton Woods |
Everyone, As we stated earlier, this particular virus that is on the internet is causing a lot of issues for Corporations.
As a result, the companies who write anti-virus software are continuously updating their software.
As of this morning, another update has been made available to us.
This update does a better job of protecting your PC than the update we received last night.
At this time, it is extremely important that you again go through one of the procedures listed below to get the latest update.
1.
Logout of the network and log back in or 2.
Click on START>PROGRAMS>ACCESSORIES>Norton AntiVirus Corporate Edition and then click the Live Update button.
This will pop up a screen where you will have to click the "Next" button and then a "Finish" button.
- If you are an EES user, this option is not available to you.
Please use option 1.
The proper version of the update pattern you need is: (9/18/2001, version 30918BL) - You may need to restart the Norton Anti-Virus client if you want to visually insure that you have the latest update.
If you have questions or concerns, please direct them to your Resolution Center.
Enron Global Technology
| Update to Virus Protection Software #2 |
Dear HBS Alumni: What is going to happen in the Middle East?
Please join the HBS Club for a luncheon with Ambassador Edward Djerejian, the founding director of the James A. Baker III Institute for Public Policy at Rice University.
The Middle East has taken on an even greater importance in recent days and Ambassador Djerejian is a renowned expert in this area of the world.
SPEAKER: Ambassador Edward Djerejian, Director of James A. Baker III Public Policy Institute at Rice University
| HBS October 2 Lunch - Ambassador Edward Djerejian |
If you would like a registration form for any of these rides, please let me know or go to www.bicycletexas.com.
September 29 Sealy Crossroads September 30 Houston Cy-Fair Lions Biking for Sight October 6 Pineywoods Purgatory October 7 MADD County Roads Classic October 6-7 Bike to the Beach MS150 October 13-14 Houston Alamo Challenge October 1 is the registration deadline.
Please send your registration form and pledges to me before then.
October 20 10th Annual Missions Tour de Goliad
| Upcoming bike rides |
I will be getting ride reimbursements ready at the end of September.
If you haven't already done so, please submit your ride reimbursements to me using the attached form before the end of the month.
Thanks!
Steph : )
| 3Q ECC ride reimbursements |
Space is still available for the upcoming Harvard Forum.
If you would like to attend, please make your reservations today.
In case you did not receive the invitation, please see the information below.
"Pathways to Success: What it Takes to Move from Dorm Room to Board Room in Two Easy Decades" - Dinner and Discussion Club Following upon the rousing success of the Club's first Harvard Forum "Raising Children of Character in A World of Affluence," the Harvard Club of Houston is conducting another Harvard Forum.
We plan to have three during the current academic year.
For those of you unfortunate enough to have missed the first Forum, the format works like this: we'll have dinner, and then a panel of Harvard grads will give brief introductions to the evening's topic from their perspective, and then we will all engage the topic for ourselves in a moderated discussion.
The panel members will be knowledgeable, but not so expert that anyone will be intimidated.
They will, however, be provocative to assure that the subsequent conversation is lively.
You will come away knowing your fellow Club members better than ever - maybe better than you ever wanted.
We hope that the topic we've picked for the second Forum will be captivating to recent and older alumni alike.
Our panelists will cover the spectrum of vocational experience, not all business people; and you might argue whether some even have a vocation.
Some will identify the critical factors in achieving success, while others will argue that all personal planning is an exercise in self-delusion.
We are confident that the discussion will be informative and lively.
Because of the format, only the first 40 people can be accepted.
We had to turn away people last time, so please respond promptly, as indicated below.
When: Saturday, September 22, 7:30 p.m. Where: Briar Club, 2603 Timmons (East Briar Room) Cost: $35.00 per person Reservations: Email dottie@kerr-solutions.com or call 281/424-3084 (Payment must be made at time of reservation by credit card or mailing check to 3413 Cobblestone Lane, Baytown, TX 77521-1956.)
For further information, contact David Grizzle (david_grizzle@yahoo.com or 713-324-2966) or Danguole Spakevicius (danguole@fempartners.com or 713-665-4218).
=================== Dottie Kerr (harvardclub@kerr-solutions.com) Administrator for Harvard Club of Houstonwww.harvardclubofhouston.org
| Harvard University Club of Houston - Harvard Forum REMINDER |
Here are the rides for May.
Shiner Bash - May 12 You will need to sign up for this ride yourself.
The cycling club will reimburse $20 for this ride.
Fayetteville Good Ol Summertime Ride - May 6 You will need to sign up for this ride yourself.
The cycling club will reimburse $20 for this ride.
Schulenberg Steeplechase Bike Ride - May 5 You will need to sign up for this ride yourself.
The cycling club will reimburse $20 for this ride.
| Rides for May - Part 1 |
Weco overstock for sale.
Please see Attached Excel list.
If you have any questions or would like a quote please feel free to contact me at Phone (916) 645-8961 Fax (916) 645-1547.
Thanks,
| Weco Inventory for sale |
Charles Schwab =09 =09=09 As of Friday, September the 14th the markets are preparing to reopen Monday= , September 17.
The financial exchanges and brokerage firms, including S= chwab, are conducting extensive system testing over the weekend to ensure s= mooth operation Monday.=09 Important Information: Financial market update = and FAQs related to recent events Information on Order Types Market Vol= atility =09 =09What to Expect on Monday As we have communicated earlier, there may be= some short- term price volatility when the market opens.
Accordingly, you= may want to consider whether to use a limit order or a market order when p= lacing a trade.
(Click here for more information on order types).
In addi= tion, with potential strains on systems due to heavy volumes, you may expe= rience operational or execution delays.
(Click here for more information o= n market volatility).
We are Here to Help All necessary steps have been= taken to ensure the continued normal functioning of Schwab's systems and o= perations.
We stand ready to assist you with questions, advice and servici= ng needs.
You can call us at 1-800-435-4000 seven days a week, 24 hours a = day, access our schwab.com website, or visit a Schwab office near you.
A= s an industry and as a firm, we have successfully worked through challengin= g markets in the past and are here today helping to ensure your financial s= ecurity and success, now and in the future.
We will monitor the situation= closely.
We encourage you to check schwab.com and listen to news reports= for up-to-the minute information.
Notice: All email sent to or from Cha= rles Schwab corporate email system may be retained, monitored and/or review= ed by Schwab personnel.
For your protection, we are unable to accept ins= tructions to change your email address sent in reply to this message.
To up= date your address , please log in to your account using the link below.
Fro= m there you will be able to update your email information securely.
?
20= 01 Charles Schwab & Co., Inc. All rights reserved.
Member SIPC/NYSE.
(0901-= 0363)=09
| Update on Financial Markets |
RADIO ADDRESS OF THE PRESIDENT TO THE NATION THE PRESIDENT: Good morning.
This weekend I am engaged in extensive sessions with members of my National Security Council, as we plan a comprehensive assault on terrorism.
This will be a different kind of conflict against a different kind of enemy.
This is a conflict without battlefields or beachheads, a conflict with opponents who believe they are invisible.
Yet, they are mistaken.
They will be exposed, and they will discover what others in the past have learned: Those who make war against the United States have chosen their own destruction.
Victory against terrorism will not take place in a single battle, but in a series of decisive actions against terrorist organizations and those who harbor and support them.
We are planning a broad and sustained campaign to secure our country and eradicate the evil of terrorism.
And we are determined to see this conflict through.
Americans of every faith and background are committed to this goal.
Yesterday I visited the site of the destruction in New York City and saw an amazing spirit of sacrifice and patriotism and defiance.
I met with rescuers who have worked past exhaustion, who cheered for our country and the great cause we have entered.
In Washington, D.C., the political parties and both Houses of Congress have shown a remarkable unity, and I'm deeply grateful.
A terrorist attack designed to tear us apart has instead bound us together as a nation.
Over the past few days, we have learned much about American courage -- the
| RADIO ADDRESS OF THE PRESIDENT TO THE NATION |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.