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Dave would like to have a strategy meeting next Tuesday Ocotober 10, 2000 from 2:30-4:30 in room 30C1. No preparation is necessary and it's important that each of you plan to attend. If you cannot attend, please contact Dave directly. Thanks!
Strategy Meeting
Ike, given our schedules, it appears that e-mail may be the most effective communication tool. I thought I would just follow up on progress being made in TVA on our settlement process. As well, I understand that there has been a number of communications between TVA and Enron on the NoxTech emissions business. I hav...
Various
Guys, it will be very difficult to get money out of the power group - is the expectation that I come up with the dollars - just curious. Are we not circumventing the spirit of the political contribution rules? Regards
Support for key TN lawmakers
Joe, EnronOnline is essentially the internet distribution channel for our gas and power business. Rather, my focus on the legacy channel is an attempt to increase the probability that more originators can complete transactions and generate deal flow. As well, to reduce the conflict between the trading and originati...
Follow-up to ENA Orientation
Rob, no hi or goodbye - you are losing your Canadian politeness :) On a serious note, you are doing the right thing for the company and for Barry's career. This will be a good opportuntity for him to get to the next level if he makes it happen. As you are aware, I will aggressively support you and the Toronto iniati...
Barry Tycholiz
Guys, what are we going to do with this contract and the barges? My understanding is that we have a done deal on the 6B's. Is this correct? I may be a nervous nellie but I would like to put all this stuff behind us (ie) no more 6B's or barges. Regards
LIPA
Given the current tremendous energy market volatility and as we stretch resources to make our commercial goals for 2000, we think it would be appropriate to postpone the ENA 2000 Offsite to early next year. I trust this meets with your approval and thanks for all the hard work. Regards
ENA 2000 Offsite
David, I have a problem with the RAC comments made on page #2 of the DASH. Specifically, the two paragraphs basically add no value and just confuse the reader (ie) what is your opinion? Is this a good sale or can significant recovery (on a risk adjusted basis) occur if we convert the sub debt and infuse more equity?...
Basic
Ike, it is unfortunate we could not make this work yesterday; but I understand your position. In the interest of facilitating continuing dialogue and perhaps giving you our view on how we analyze such positions, I will send you our document. I would suggest that we try to set up a follow up meeting in early October...
Settlement
Chris, as per our discussion, I just want to confirm that we have the ability to break the contract with the EPC provider at any time. Further, I want to confirm that our costs will be minimal and that this whole process (ie putting a number on a term sheet) has been based on trying to maximize the short run value ...
Las Vegas CoGen
Guys, I have explained the strategy/tactics that have lead to this position in some detail. In my opinion the company is not at risk and potentially ENA could create significant value from a project that we have very little invested. I understand the construction risk on the bid as much as anyone and we have no int...
Las Vegas CoGen
Joe, part of this deal is repayment of the sub debt at par and a series of cashflows that we would probably like to monetize. Have you looked at this? Jeff, I would like to get your view on the economics - basically they are giving us 89% of our carry value in cash and 11% of our carry value in a contingent payment ...
El Paso/ECP
Ike, with the danger of being too presumptious, I thought I would follow up with an e-mail to suggest a procedure for trading settlement offers on Wednesday. Attached I have a suggested template for each party to use so that we can ensure that we are comparing "apples to apples". I would also suggest that each par...
Settlement Template
David, on a go forwards basis, please ensure that there is a technical sign off on the principal investments DASH. I would like either Bob Virgo or Wayne Mays to have a look at these investments from a technical due diligence point of view and to be on side before the investment is made. Regards
Principal Investment
Guys, I appreciate the quality work and deal flow that you are generating. In an effort to measure and reward performance from our middle market groups we have attempted to come up with several standardized reports to be issued monthly and to be reviewed at the QBR. I am a strong believer in that what is measured an...
EPMI WEST - Recent Trades with Long term Duration
Jeff Ader is looking for a reserved parking spot. He is presently parking on the Blue level and would like to have a reserved spot due to his frequent traveling and customer appointments that warrant his leaving the building, thus loosing his parking space. Thank you in advance for your prompt attention to this matt...
Parking
Guys, pending the sale of the Wilton Centre unit, I would suggest that we not execute the gas balancing arrangement. The parties should continue to operate and invoice based on the verbal agreement; however, lets not execute the agreement or put it in the data room. We should represent to potential buyers that we h...
Wilton
Successfully, missed another bullet !!! I have meetings set up with Mariel= la=20 (the lady you like) and Dan Castingnola, who are the two highest ranked=20 performers in CALME, to see if they are interested in joining our team. =20 Regards
Organizational Changes
Guys, gas with a $5.00 handle is not a good thing for this deal - I know we are pushing this restructuring as fast as we can; however, I think we need to determine how to move this faster. Any ideas? Regards
Sithe
Tom , I appreciate the e-mail - sorry for the delay in response. I am on-side with all your points. On the New Albany retrofit, I want to ensure that I am not replacing one patent problem with another so a clear "title" up front on the new equipment will be important. However, I will be interested in hearing your so...
Houston Meeting
Janelle, I was hoping that maybe we could find a half hour to discuss your thoughts on your current role. I have heard you are considering global fuels and Lagrasta's business. I would like to give you my perspective on the future vision for power and the overall organization including gas mid-market. Ultimately, E...
Various
Chuck, I appreciate the note - I just like to ensure that everyone is aware of the various issues and that we are managing our risk appropriately. I have a great deal of confidence that you have this handled. Regards
Ada pump and QF concerns in general
It is the intent of the Office of the Chairman to maintain a high quality flow of Analysts and Associates rotating through Enron North America as well as provide them with up to date information on all the potential rotations in ENA. Additionally, we would like to provide the ENA AA's a forum for your respective gr...
ENA Analyst and Associate "Brownbag" Presentations
The meeting for Friday September 1, 2000 has been cancelled. This is a reminder !!!!! There will Not be a Friday Meeting September 1, 2000.
ENA Management Committee
Jeff, you will be receiving a DASH from the principal investing group which does not fit well into some of the charter criteria; however, I do think this is a venture we should support. In a nutshell, it is providing $10MM, in seed capital, to be used in the start up of a new distributed generation company having t...
Cangen
Barry, we currently have six folks coming who all golf: - Barry - Lavo - Delainey - Ozzie - Milly - Yzaguirre I would say we should golf everday. I will get Kay to forward travel schedules to you so that we can set up times where everyone can play as much as possible. My understanding is that we are all stay...
Vegas
Adam, I believe that we have formally responded to all your issues as per your memo to me of August 8, 2000. In all or almost all cases, we have accepted your position. The agreement should look and behave very closely to what you would have signed with the competing utility. In addition, ENA is paying a higher pri...
Indian Mesa
Dick, you need to agree with Max on the scope to be provided by the OE - I expect high quality service for the money we are paying. The deal on Friday is completely dependent on a pre-arranged scope and a minimum quality of service. I expect high quality EE&CC people to be proactively managing cost and exposure an...
Memo on Vitro Project
Guys, we appreciate your efforts on this project but we will not be needing your services as owners engineer on the Vitro project. I will honor our agreement on the sell down; however, we have sufficient technical talent internally and externally to manage this job. I see very little effort in continuing to waste i...
Vitro Project
Tim, I thought I would send you a copy of the East Mid-Market QBR to give you a view on what Presto/Baughman are doing. The West historically has been far better than the East in covering the market and generating mid market deals/services. I look forward to our discussion in Portland next week. I would like to get...
East Mid-Market _ QBR
Please make a note.... The QBR is August 30th not August 20th. Sorry for any inconvenience. This is to remind you of the following meeting:
Correction !!!!! Correction !!!!!
Staff & Budget Meeting has been cancelled. Please make a note on your calendars. A new committee has been formed "ENA Management Committee". A memo will be going out with the attendees and with the times. If you have any questions, please feel free to call me. Thanks,
Friday afternoon Staff & Budget Meeting
This is a reminder !!!!! There will be a Friday Meeting August 18, 2000. This meeting replaces the every Friday Meeting and will be held every other Friday.
ENA Management Committee
As part of the restructuring between ENA and Global Markets and consistent with the view to increase our focus on building our core gas and power business, we have decided to re-formulate the ENA Management Committee. As part of this change, each of you are invited to participate in dialogue and decisions which wil...
ENA Management Committee
Please note time change for the QBR to be held on Friday, August 18th. It will be from 8:30 am to 11:30 am so that we can have the Friday afternoon budget and staff meeting. The QBR will be held in EB3321. Thanks.
Friday East Mid Market QBR
Guys, this is my first cut on who I would want to be in this group. I think this is an important exercise on a couple different fronts. We need to bring more people "in" which should increase their accountability for ENA results overall, improve communication and teamwork and provide a platform to evaluate future l...
ENA Executive Committee
Jeff, you are killing me - we targeted that group specifically to build the risk business in gas and east power in the short run. This was well planned effort. Regards
New Associates
Larry, go get 'em. Whatever you can get you can keep and reduce the fee. You could make this easy for both of us. Regards
SIEMENS/WESTINGHOUSE DISPUTES
Dave would like to cancel the bloomberg program that he presently has on his computer. Can you do this for him or can you direct me to the proper person ? Thanks for your help.
Bloomberg
Bill, Dave delainey is only recieving mail through david.w.delainey@enron.com. I checked in the address book and it appears as though he should be able to recieve email from david.delainey@enron.com. This is happening fom external accounts. I have checked his settings and everything seems to be fine. Could you plea...
David Delainey Mail
Text: Please plan to attend and reception and dinner for Analysts and Associates who have made significant contributions to ENA. The function will be hosted by the Office of the Chairman at Morton's Steak House located at 5000 Westheimer on August 17, 2000. The reception will start at 7:00pm with dinner to follow ...
Analyst and Associate dinner, August 17, 2000 at Morton's
Larry, my understanding is that ESA has taken four units and that Janet Dietrich in conversations with ESA has made four more available to ESA subject to them getting their deal approved by the board. So I do not believe Enron needs to committ to additional LM units at this time. Regards
ESA's LM 6000's
Guys, to end all arguments, I would suggest the following protocol which is similar to what was discussed at Columbia Lakes: a) P&P swaps and anything to do with the network strategy/assets in the paper sector in Canada and Mexico - Industrial Origination; b) Pure energy commodity positions and stand-alone energy ...
Tembec and US Originators
Charlie, looks pretty general - only comment is what is the Product Purchase Agreement entail? Do we want to go into more detail on the nature of the alliance, the target market and the nature of the excusivity (ie) wholesale renewables applications, ENA, major state programs - all of it based upon the Conneticut j...
FuelCell Energy Term Sheet
Due to a scheduling conflict, it has become necessary to cancel the dinner meeting scheduled for August 2, 2000 at the River Oaks Grill. This meeting will be re-scheduled at a later date. If you have any questions or concerns, please feel free to contact either Kay (30643) or Beverly (57857). Thanks very much.
Dinner Meeting on August 2, 2000
Rick, we have re-examined the portfolio as a result of our last meeting and have an expected portfolio of $500M (gross) or $408M (net-ENA's share) to be placed into Raptor on September 1. We have a second tranche of $608M (gross) or $396M (net ENA's share) to be placed into Raptor 2 on December 1. Kafus, Ecogas, Bri...
Raptor et al
Brian, great job - I would really like to get this done for third quarter please let me know how I can help. I have heard that you can request a expedited HSR for fairly straight forward deals like this. Wes, I believe that we don't have any issues recognizing the value from this transaction - please confirm. Regard...
Project 20/20 Status
Rebecca, if you wouldn't mind I would like to sit in on the Monday meeting. I think that Mariella from what I have seen and heard is very capable. I strongly believe that we need to put a dedicated (with fresh eyes) SWAT team on this one that has control of the complete commercial, technical and financial aspects of...
Cuiaba I Team
Mark, note the feedback from the AA's, it is imperative that we get a handle on this! Let me know when I can spring our plan on Jeff. Regards
ENA Analysts and Associates
Rick, I hope you take the time to speak to Rodney Malcolm or Ray Bowen on how your technical and commercial exprience could help move the outsourcing product (in all its forms) forward in the industrial market. Otherwise, your welcome ... Regards
Construction Exchange Product
Mike, if you Janet or Dave can cut the deal with Izzo go ahead and speak to him. I don't think there is any practical way to enforce any percieved call we have on Izzo so you will have to determine how much Larry really wants the trubine or how he could benefit from striking a different deal. Regards
Goldendale Turbine
Laura, I spoke to Tom about his retail proposals, I told him that you would coordinate a meeting between Mark Muller/Lou Pai and himself. I only want Lou going up if Tom is involved. However, Mark Muller is up to go and I have spoken to him with regard to the opportunity today. He is expecting your call. On a relat...
Tom Patrick
I am trying to pull together a QBR for Dave and Mark Frevert. Would Tuesday August 29th from 1:00 pm to 4:00 pm. work for everyone? Thanks,
Coal & Emissions QBR
Guys, lets set up a meeting between the three of us on Monday ASAP to discuss. I have a few ideas and I probably need to go have dinner with Lew to get him comfortable. This may be setting up to be a larger asset management transaction. Don can you try and find a time next week with Lew for me to have dinner - get ...
FPL Update
Dorie, I have to question the effectiveness of this program. Over the years, it appears that more spots are being filled by Enron people then customers. The effectiveness of this forum from a customer point of view is questionable. I vote to kill it. Please forgive the approach - but I would like to provoke a discuss...
2001 ENA/EGM/EIM CUSTOMER SKI PROGRAM
There will be a meeting on Wednesday, August 2, 2000 from 9:00 am until 10:00 am in Conference Room EB3321. We will be discussing the Triple Lutz and Trantula Projects. I will look forward to seeing you there. Thanks
Triple Lutz and Trantula Meeting
Please plan to attend a reception and dinner for those Analysts and Associates due to rotate in the near future who have made significant contributions to Enron North America. The function will be hosted by the Office of the Chairman at Morton's Steak House located at 5000 Westheimer on July 27, 2000. The recept...
Dinner with ENA Associates & Analysts
Please plan to attend a reception and dinner for those Analysts and Associates due to rotate in the near future who have made significant contributions to Enron North America The function will be hosted by the Office of the Chairman at Cafe Annie located at 1728 Post Oak Blvd. on August 2, 2000. The reception wi...
ENA Associate & Analyst Dinner
Jim, I really don't see a need for this meeting - you can count on us not dropping the ball. I have a good understanding of the retail product offering, in fact, we lead the outsourcing sales process for the large industrial customers in NA until EES bought back their minority shareholders. I have a very good relat...
Retail in South America
Don, go ahead and set it up - what have been discussing with them on the gas side? Did CSFB tell them about the $400 Kw capital cost plus the three year transistion agreement for $4.00 kw/m? Tell Beverly or Kay to make time for next week if Mr Forster can make it. Regards
DPL
As you know the ENA OTC is actively working with the Analyst and Associate Program to develop greater talent flow into ENA. We are presently working on a number of initiatives to improve how this is working and significantly improve communication flow and responsiveness. However in this regard we also need you to h...
ENA Analysts and Associates
Wes, we have the following dates set up: a) East Midstream and QF Restructuring - Aug 15; b) Industrials - Aug 14; c) Canada Origination - Aug 16; d) West Midstream - Aug 17; e) HPL, LRC and Upstream Origination - Aug 28. We are setting up the remainder as we speak. I have some final comments on the packages you ...
QBR
David, I wouldn't do the Brown Bag (too often- too hard to keep doing); I wouldn't do the Social Gathering (too country clubish); I like the Monthly Dinner/Cocktail Hour/Ballgame, etc with the OTC and parts of the management team as a forum to identify talent, give A&A's exposure to the management team and to "sel...
Retention and motivation initiatives for top ENA A&A's
Chris, did we get the DASH completed and approved on Pasotria and LV Cogen? Rob, I have not heard what the plan of action is with Moore? Rob, what would be the necessary steps needed to book all or some of the Bruce deal in Q3? Regards
Generation Strategy
Guys, where is Rebox - it seems to have disappeared? I assume you guys are working on the accounting issues necessary to book the swaps on the Garden State deal. Regards
Various
Richard, I think I am starting to obsess and I really don't want you guys working on this; however, it think that it is very odd that this Griffin guy over an eight week process, two registered letters and a phone conversation does not send a letter or bring up this "Chrome Dreams" issue from 1986 with us until thi...
Various
Janet, we have been down the road with these guys before and it was not very pleasant. I think it is hightly unlikely that Larry will be coming up with an additional 7FA turbine - but you can call him. I'm also starting to think as the LM position starts to get better managed that maybe you and Chris should take th...
Cogentrix Turbine Inquiry
George, it is probably worth speaking to them about the US assets - probably the smaller Virginia sites which are probably less core and may be great brownfield sites. I'm not sure we would have an interest in UK coal fired assets. I would speak to Sherriff on that one. However, I would caution that real value is ...
Edison Mission Energy
Steve, please call Jeff and go through in detail how we got to our valuation of approximately $39 M. Please ensure that this is a reasonable facsimile of value that ENA would accreate over the short to medium term assuming your continued management. Let me know where you end up. Regards
C-Gas
Jeff, I don't believe the offer I showed you of $39 M is unreasonable. In fact the team had recommended $42 M based on a number of measures. I see the 6X multiple of annualized Q2 earnings as one of the best measures of the potential value of this company. I don't see it in the best interests of Enron to be transfer...
C-Gas
Dave and Mark have asked me to arrange a meeting, QBR HPL/LRC/Upstream Origination, and I would like to know if August 22, 2000 from 1:00 - 5:00 pm will work for all of you? Thank you in advance for your promt attention to this matter. Thanks,
QBR HPL/LRC/Upstream Origination
Ray, couple of comments: a) Donahue is responsible for the portfolio management function but also incorporate the idea of Jeff being responsible for ENA's "capital book" (ie) managing existing deals and intimately involved in conjunction with Treasury and the various origination groups of which finance transactions...
Draft organizational memo
Laura, I would like to congratulate you and your group on a very successful quarter. Hats off to the team!! Let me know how I can help. Please forward to your organization as appropriate. Regards
MEH Quarter Success
Guys, this is the real deal - we need to be ahead of this!!! How are we making out on acquiring brownfield sites and formulating a strategy? Regards
Dow Jones Gas vs. Coal feature
Dave and Mark asked me to set up a three (3) hour meeting regarding Industrial QBR. Would August 15th, from 1:00 pm to 4:00 pm work for everyone? If so, please mark your calendar and RSVP to Kay Chapman. Thanks,
Industrial QBR
Jeff, have you finalized how Jenn and Craig will split out the industrial segments? They should also come up with their business plans and a reporting matrix similar to what you are doing with the desks. How are you making out at the desk level in implementing our previous discussions with Scott and the remainder o...
Various
Guys, as a follow up to our meeting today, I thought I would put together a list of deliverables agreed to in the meeting. The goal would be to have a definitive strategy for HPL and storage assets by the end of July that could be acted upon. a) Elimination of the Entex contract - current value - John L.; b) Storag...
Project Triple Lutz/Tarantula
Max, congrats on the Decero PPA - we need to wrestle up another 100 to 200 MW. This should be a priority given the profit potential of this deal as per Oz and Doug (+50M in 2000). Is there an ability to let Sabine or Irvin run with Vitro and get your attention on this item asap. I know that the Monterrey project is...
Various
Kay please forward to Max Yzaguirre. Max, congrats on the Decero PPA - we need to wrestle up another 100 to 200 MW. This should be a priority given the profit potential of this deal as per Oz and Doug (+50M in 2000). Is there an ability to let Sabine or Irvin run with Vitro and get your attention on this item asap. ...
Various
Guys, there is quite a number of us dealing with this problem - what are our solutions? Could we have a corporate jet available for folks stuck in the A&A PRC? Other? Regards
Flight time on December 13 to Las Vegas
Folks, you are the remaining officers of ENA that have not yet enrolled in this mandated training program. It is ENA's goal to have all its officers through the program before the end of calendar year 2000. The course has received very high marks for effectiveness. Please take time now to enroll in the program. Spe...
Executive Impact and Influence Course
Ed, sounds like you have this handled - I would like to use your report as the example to use in other groups. It can wait until you have it all completed. You may want to think about EOL as well (ie) how many companies have you brought on-line, etc. summary: - coverage metrics; - market iniatives; - completed...
Monthly Mid Market Coverage Report
Guys, your teams did a great job managing a very difficult situation with very few material effects to the organization. It is noticed and appreciated please pass on to your organization if you feel appropriate. Regards
Power Failure
Sorry about the confusion. Fran Mayes will be sending a memo out in the next day or so reflecting the times of the PRC. In order to accommodate Dave's meeting with all you and to include Mark Frevert we had to move the time of the PRC from 8:00 am to 11:00 am. The ONLY thing changed was the time, the date and place ...
Generation Strategy
With Enron's rapid growth we need to maintain an ability to move employees between operating companies and new ventures. To do this it is essential to have one process that will enable us to collect , update and retain employee data. In the spirit of One Enron, and building on the success of the year-end Global VP/...
Update GIS Information
Rick, in the interest of preserving trees and keeping the information reasonably controlled, I would distribute this to senior managment and the portfolio managers in each origination group responsible for each investment. Portfolio Managers Steve Pruett - Energy Capital Resources - (E&P) Chuck Ward - Generation Inv...
Enron North America - Asset Snapshots Q1 2000
PRC is just around the corner and Dave has not been provided the accomplishment/self evaluation from some of you. This serves as a reminder to please provide Dave with a list of accomplishments/self evaluation for the past six (6) months as soon as possible. Thanks in advance for your prompt attention to this matter...
Accomplishments/self evaluation
I am sending out a second confirmation due to the additional attendees. Dan Leff and Randy Maffett will be calling in. This is to confirm the monthly Industrials meeting for Thursday June 22, 2000 at 1:00 pm.
Industrials
This is a reminder to please have your calendar marked for Friday July 7, 2000, for the ENA VP PRC Pre-Ranking Meeting. The meeting will be held at the DoubleTree (Granger B) from 8:00 am to 5:00 pm. If you have any questions/conflicts, please feel free to call me. Irma Alvarez will be following up with invitations ...
ENA VP PRC Pre-Ranking Meeting
Joe, thanks for the assistance. We have a few items still outstanding on the Doyle (Georgia PPA with Ogelthorpe) unit; however, It looks like we have the '99 and '00 plants completed. The 2001 program is much smaller. I will follow up shortly. Regards
Weekend Activity
Tim, my understanding is that partnership fee (the $11.0M) has been amortized for the last several years and expensed to the Industrial groups (McConville and Ondarza). As you are aware, I sued them for breach. The settlement involved the elimination of all existing transactions between Ft. James and Enron includin...
Fort James Amortization
Where did he rank against other folks at the super saturday? I would argue that if he was in the top 30%, we should accomodate his need. regards
ENA Associate Candidate Question
Guys, the project should be charged market based rates and ENA is not in the business of subsidizing international projects. This is particularily the case if we are not going to hold a continued interest in the project. However, if we can not reach a term O&M agreement please maintain the optionality in the project...
Nigeria
Tim, in the east power group and the gas groups, we are trying to build a mid-market capability(deal flow, information and coverage) consistent with the largest energy merchant in N.A.. Please see tha attached. I would be curious to talk to you about your structure, coverage functions and market building iniatives. ...
East Power Mid-Market Org. Chart
Ed, this looks great!!!! Please ensure that the focus is on coverage, deal flow and building markets. I want to avoid two groups hunting strategic elephants (ie) east origination and development so ensure the scope is consistent with mid-market coverage and feeding the desk deals and info. In the case of building or ...
East Power Mid-Market Org. Chart
Guys, I suggest that we write it down in order to ensure that we don't get it back as other groups use up the Raptor capacity. We have sufficient market data points to do this. Please advise. Regards
Catalytica
Guys, we are working to put together the final team to manage this issue; however, it isJeff Skilling's call to keep Delainey, Milnthorp and Keohane out of the day to day fray on this issue. I believe this is the right call. Commercial and legal resources from Houston will manage this issue on a go forward basis and...
Project Stanley
Rob,this deal is not dead; I am primarly waiting on NEPCO numbers. You should be moving down the road on the deconstruction, refurbishment and movement of the NB machines. You should also be doing any development work (permits, interconnection agreements et al) you need to do to maintain the optionality of this proj...
Moore Power Plant status
Dick , I appreciate the effort on the Moore project - I would hope that there is more than a $2m saving in the scope. This plant is still showing $460 to $470/Kw given current economics. I am still puzzled by this. Regards
Moore Power Plant
Dave, I am going to send Shawn your way - he has extensive development, asset and project finance experience. I would like him under your supervision to manage our coal power development strategy - like we discussed it could be a very robust strategy with multiple exit points. I strongly believe that coal needs to ...
meeting