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arora-h/deleted_items/101.
|
subject: Your Approval is Overdue: Access Request for [email protected]
content: This request has been pending your approval for 110 days. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.
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Request Create Date : 6/19/01 7:50:30 AM
Requested For : [email protected]
Resource Name : \\nahoutrd\houston\pwr\common\Electric - [Read]
Resource Type : Directory
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arora-h/deleted_items/102.
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subject: Your Approval is Overdue: Access Request for [email protected]
content: This request has been pending your approval for 110 days. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.
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arora-h/deleted_items/103.
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subject: Your Approval is Overdue: Access Request for [email protected]
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Requested For : [email protected]
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arora-h/deleted_items/104.
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subject: Your Approval is Overdue: Access Request for [email protected]
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arora-h/deleted_items/105.
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subject: Request Submitted: Access Request for [email protected]
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arora-h/deleted_items/106.
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subject: Your Approval is Overdue: Access Request for [email protected]
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arora-h/deleted_items/107.
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subject: Your Approval is Overdue: Access Request for [email protected]
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arora-h/deleted_items/108.
|
subject: Currenex Newsletter
content: Dear Harry,
Thank you for your interest in Currenex, Inc. The newsletter provides you
with news, announcements and upcoming events from Currenex, the leading
online multi-bank global currency exchange linking institutional buyers and
sellers worldwide.
Currenex continues to add several new buy-side and sell-side members. The
Currenex service now boasts hundreds of active trading members around the
globe who are enjoying the benefits of electronic foreign exchange trading
with increased efficiencies through complete straight through processing
solutions.
Don't miss the November issue of The Treasurer magazine featuring an article
on electronic trading platforms and new integration standards, or the recent
article from Treasury and Risk Management magazine discussing Corporate
E-Trading.
=========================================================================
CURRENEX BOLSTERS SERVICE OFFERING WITH ENHANCED USER INTERFACE, A REAL-TIME
MARKET VIEW, AND COMPLETE STP SOLUTIONS FOR ITS MEMBERS
LONDON - November 12, 2001 - Currenex(tm), Inc., today announced a set of
significant service enhancements including a customizable user interface
designed for live executable streaming prices and orders, a real-time market
view featuring live indicative interbank rates from Tullett & Tokyo Liberty,
and a complete suite of straight-through-processing (STP) solutions that
provide members faster, easier trade execution and complete STP.
To view the release in its entirety:
http://www.currenex.com/html/pr_fxintegrate.shtml
=========================================================================
CURRENEX LAUNCHES FXINTERNAL TO HELP CORPORATIONS MANAGE FOREIGN EXCHANGE
ACTIVITIES ACROSS SUBSIDIARIES
LONDON - November 6, 2001- Currenex(tm), Inc., today introduced FXinternal,
a new offering that gives global corporations powerful capabilities to
manage foreign exchange transactions with their subsidiaries and affiliates.
FXinternal will enable central treasury operations to leverage aggregated
trades on behalf of their smaller subsidiaries through Currenex's trading
service.
To view the release in its entirety:
http://www.currenex.com/html/pr_cit.shtml
=========================================================================
TWIST PUBLISHES SECOND VERSION OF FX INTERFACE STANDARD AND ADDS REUTERS AND
TAPX AS MEMBERS
Second Version of Interface Incorporates Workflows for FX Trade Amendments,
Cancellations, Allocations, and Rolls
MADRID - September 19, 2001- TWIST, the Treasury Workstation Integration
Standards Team, a group of fifteen global companies, announced today that it
has published the second version of an open standard interface at
www.twiststandards.org. To complete the second version, TWIST has been
working in alignment with the FpML FX Products Working Group to facilitate
straight through processing (STP) by effective integration of treasury
systems with foreign exchange (FX) trading platforms. TWIST also announced
Reuters and tapX as new members and that it is working with SWIFT to
encourage harmonisation of emerging standards.
To view the release in its entirety:
http://www.currenex.com/html/pr_fpml.shtml
To learn more about the TWIST Initiative, please visit
www.twiststandards.org
=========================================================================
CURRENEX PARTNERS WITH AVT TECHNOLOGIES TO STREAMLINE FX DEALING
Currenex Bank Members Offered Multiple Options for Price Delivery to Clients
London, October 26, 2001 - Currenex(tm), Inc. today announced that it will
integrate its online foreign currency trading service with AVT's auto
pricing engine, EchoFX, to provide significantly increased speed, efficiency
and streamlined foreign exchange dealing to Currenex bank members. Currenex
bank members can now respond to their client's price requests automatically,
or personally, using the Currenex service. AVT is a leading provider of
foreign exchange transaction technology and has established a blue chip
client base that consists of many of the world's preeminent global banks.
To view the release in its entirety:
http://www.currenex.com/html/pr_partner_avt.shtml
=========================================================================
The Treasurer:
A Step in the Right Direction
Tom Buschman of Shell discusses why electronic trading platforms and new
integration standards are a step change for increased efficiency and
controls in corporate treasury.
To view the release in its entirety:
http://www.currenex.com/html/subbed1.pdf
=========================================================================
Treasury and Risk Management:
The Rocky Road to Corporate E-Trading
Treasurers will drag their feet until straight-through processing arrives
At the beginning of the year, corporate treasury departments were assured
that electronic trading was the promised land. Corporates were going to
capture big savings as banks and other sell-side institutions were forced,
by the simultaneous multiple quotes that e-trading makes possible, to offer
increasingly competitive pricing. Web sites offering corporates e-trading in
everything from foreign exchange to leasing began to spring up.
To view the release in its entirety:
http://www.currenex.com/html/news_stp.shtml
========================================================================
Corporate Finance:
FX Platforms Give Internal Control
Online FX platforms are moving to the next level with internal dealing
applications. Denise Bedell speaks to corporates looking at the new systems
and to the companies developing them to see how web-based trading
applications can increase control and auditing of the entire process of FX
risk management.
To view the release in its entirety:
http://www.currenex.com/html/news_cit.shtml
=======================================================================
Members:
Currenex has more than 40 major corporations and fund management firms
including Autodesk, Compaq, Ericsson, Home Depot, Intel Corporation,
MasterCard International, Sara Lee Corporation and the Royal Dutch Shell
Group as well as 45 global, market-making banks including: ABN Amro,
Barclays Capital, Merrill Lynch and Standard Chartered.
We are also proud to announce that National City and Wachovia/First Union
have recently joined the FXtrades services as bank members.
To view a more detailed list:
http://www.currenex.com/html/members.shtml
========================================================================
Events:
Many exciting eFX events have occurred over the past two months. To
highlight a few:
In September, Currenex participated at the International Cash & Treasury
Management Conference in Madrid. At the conference, Currenex's VP and EMEA
Managing Director, Roddy Boulton, discussed foreign exchange trading along
with a case study from Bert Kors, FX Manager, Sara Lee / DE n.v. Currenex
also partnered with Trema to showcase straight-through-processing using an
interface developed jointly by Currenex and Trema. This interface allows
users of Finance Kit to automatically receive trade details from Currenex's
FXtrades multi-bank currency exchange via the Trema Transaction HUB Service.
This interface is based upon the TWIST standard, which both Trema and
Currenex have helped develop. For more information, please go to:
http://www.currenex.com/html/pr_showcase.shtml or visit
www.twiststandards.org
Also in September, Currenex participated at the Treasury Management
Association of New York's Cash Exchange. Currenex and Travelex discussed
the evolution of eFX. Check out the media alert at
http://www.currenex.com/html/pr_travelex.shtml. At the Eurofinance Pan
European conference in Atlanta, GA., Currenex and Home Depot participated in
a case study covering eFX and the benefits to using Currenex's service.
In October, Currenex participated at the Association for Financial
Professionals Conference in Chicago where we held two sessions and also
exhibited. The opening remarks were from Madeline Albright who was
dynamite, and though she was busy, she did make the rounds and stopped by
the Currenex booth. At the conference, Currenex partnered with Trema,
FXpress, Integrity, Simcorp and Wall Street Systems to demonstrate
straight-through-processing that is currently being delivered to several
Currenex members. Ted Sanborn, VP Product Management of Currenex, held an
online foreign exchange trading workshop where participants learned about
how to get started in eFX. And Jim Kleckner, EVP and CTO of Currenex,
conducted a session on Securities and Controls for Financial Transactions on
the Internet. To view the AFP presentations, please visit the Currenex and
AFP partner page at http://www.currenex.com/afp.html
We all expected that the Eurofinance Madrid and AFP conferences would be
somewhat dampened by the Sept 11th attacks; however, Currenex and its
partners, found the events to be extremely worthwhile, as both an exhibitor
and conference participant.
Special congratulations to Rebecca Flick, Director of Treasury, The Home
Depot on her promotion to AFP board Chair, and Currenex looks forward to
seeing all of you there next year in The Big Easy.....
To view more information about STP and Currenex partners, please go to:
http://www.currenex.com/html/partners.shtml
==================================================================
For more information about Currenex, please visit our website at
www.currenex.com
------------------------------------------------------------------
If you do not want to receive this update in the future, you can unsubscribe
by sending an e-mail to [email protected]
Please be sure to include "UNSUBSCRIBE" in your subject field.
| ||
arora-h/deleted_items/109.
|
subject: World Markets are in turmoil. Is your business ready?
content: Go to http://www.viewswire.com from the Economist Intelligence Unit,
to find out how our service can help you cope with today's global business
uncertainties. And for a limited time, qualified members of economist.com
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indicators, comprehensive coverage of regulatory change and much more.
EIU ViewsWire combines the global connectivity of the Internet with the
unmatched editorial resources of the Economist Intelligence Unit. Drawing
on the unparalleled resources of The Economist Group, as well as reputable
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EIU ViewsWire delivers a comprehensive daily support service ideal for
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We hope you find that our service will enhance your ability to make
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why they rely on our powerful analytical database on a daily basis.
____________________________________________________________
This message is brought to you as a registered user or subscriber to Economist.com. If you wish to discontinue receiving third party messages, simply reply to this email with the word UNSUBSCRIBE in the subject line. Please be sure to use "reply" (rather than composing a new message), so that we may properly handle your request.
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arora-h/deleted_items/11.
|
subject: Power Indices
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<p align=center style='text-align:center'><b><span style='font-size:13.5pt'>IntercontinentalExchange
</span></b><span style='font-size:13.5pt'><br>
</span>Firm Power Price Bulletin <br>
<br>
<b>For Power Delivered on Monday, <st1:date Year="2001" Day="24" Month="12">December
24, 2001</st1:date> </b><br>
<i><span style='font-size:10.0pt'>(Trade Date of <st1:date Year="2001" Day="21" Month="12">Friday,
December 21, 2001</st1:date>) </span></i><br>
<br>
Click here to access <a
href="http://www.intcx.com/SubscriberServlet/subscriberservlet.class?operation=powerIndexForm&hub=All">index
history</a>. <br>
<br>
<i><span style='font-size:10.0pt'>* volume represents sell-side only * </span></i><o:p></o:p></p>
<div align=center>
<table border=0 cellpadding=0 width="70%" style='width:70.0%;mso-cellspacing:
1.5pt;mso-padding-alt:0in 0in 0in 0in'>
<tr style='mso-yfti-irow:0'>
<td width="14%" style='width:14.4%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><b><u><span style='font-size:10.0pt'>Hub</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>High</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Low</span></u><o:p></o:p></b></p>
</td>
<td width="21%" style='width:21.12%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Wtd Avg Index</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Change ($)</span></u><o:p></o:p></b></p>
</td>
<td width="18%" style='width:18.24%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Vol (Mwh)</span></u><o:p></o:p></b></p>
</td>
</tr>
<tr style='mso-yfti-irow:1'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Cinergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$16.10</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$16.98</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 4.16</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>40,800</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:2'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Comed</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.25</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$15.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$16.46</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 3.79</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>10,400</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:3'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Entergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$20.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$18.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$19.95</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 2.49</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>19,200</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:4'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Nepool</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$26.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$25.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$26.17</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 1.69</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>2,400</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:5'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>*Palo Verde</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$23.70</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$23.01</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> .41</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>6,400</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:6'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>PJM-West</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$21.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$20.90</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$21.08</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 3.31</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>36,000</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:7'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>*SP-15</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$25.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$24.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$24.75</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> .26</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>800</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:8;mso-yfti-lastrow:yes'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>TVA</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$16.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$16.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$16.00</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 5.69</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>2,400</span></p>
</td>
</tr>
</table>
</div>
<p align=center style='text-align:center'><b style='mso-bidi-font-weight:normal'><i><span
style='font-size:10.0pt'>**For power delivered on Wednesday, December 26<sup>th</sup>**<o:p></o:p></span></i></b></p>
<p align=center style='text-align:center'><b> <o:p></o:p></b></p>
<p align=center style='text-align:center'><b>For Power Delivered on <st1:date Year="2001" Day="26" Month="12">Wednesday,
December 26, 2001</st1:date> </b><br>
<i><span style='font-size:10.0pt'>(Trade Date of <st1:date Year="2001" Day="21" Month="12">Friday,
December 21, 2001</st1:date>)<o:p></o:p></span></i></p>
<p align=center style='text-align:center'><i><span style='font-size:10.0pt'>*
volume represents sell-side only *<o:p></o:p></span></i></p>
<div align=center>
<table border=0 cellpadding=0 width="70%" style='width:70.0%;mso-cellspacing:
1.5pt;mso-padding-alt:0in 0in 0in 0in'>
<tr style='mso-yfti-irow:0'>
<td width="13%" style='width:13.56%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><b><u><span style='font-size:10.0pt'>Hub</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>High</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Low</span></u><o:p></o:p></b></p>
</td>
<td width="19%" style='width:19.88%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Wtd Avg Index</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Change ($)</span></u><o:p></o:p></b></p>
</td>
<td width="17%" style='width:17.14%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Vol (Mwh)</span></u><o:p></o:p></b></p>
</td>
</tr>
<tr style='mso-yfti-irow:1'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Cinergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$23.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.30</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$22.86</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>+5.88</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>21,600</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:2'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Comed</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$21.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$21.83</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>+5.37</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>2,400</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:3'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Entergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$24.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$23.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$23.81</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt;mso-bidi-font-weight:bold'>+3.86</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>3,200</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:4'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Nepool</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$32.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$32.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$32.00</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt;mso-bidi-font-weight:bold'>+5.83</span><span
style='font-size:10.0pt'><o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>800</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:5'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>PJM-West</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$25.25</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.25</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$24.49</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>+3.41<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>12,800</span></p>
</td>
</tr>
<tr style='mso-yfti-irow:6;mso-yfti-lastrow:yes'>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>TVA</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$22.35</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt;mso-bidi-font-weight:bold'>+6.35</span><span
style='font-size:10.0pt'><o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>4,800</span></p>
</td>
</tr>
</table>
</div>
<p align=center style='text-align:center'><b style='mso-bidi-font-weight:normal'><i><span
style='font-size:10.0pt'> <o:p></o:p></span></i></b></p>
<p><i><span style='font-size:10.0pt'>Includes all trades done from 6 AM to 11
AM Central Prevailing Time on the trade date specified for financially firm power
delivered during the on-peak hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM -
10 PM Pacific Prevailing Time for Western hubs) on the delivery date(s)
specified. </span></i><span style='font-size:10.0pt'><br>
<br>
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arora-h/deleted_items/110.
|
subject: THE LIGHTHOUSE: November 14, 2001
content: THE LIGHTHOUSE
"Enlightening Ideas for Public Policy..."
Vol. 3, Issue 45
November 14, 2001
Welcome to The Lighthouse, the e-mail newsletter of The Independent
Institute, the non-politicized, public policy research organization
<http://www.independent.org>. We provide you with updates of the
Institute's current research publications, events and media programs.
Do you know someone who would enjoy THE LIGHTHOUSE? Please forward
this message to a friend. If they like it, they can add themselves to
the list at http://www.independent.org/tii/lighthouse/Lighthouse.html.
-------------------------------------------------------------
IN THIS WEEK'S ISSUE:
1. Would Government Oversight Be Charitable?
2. Drug Law Reform Up in Smoke
3. Battle Brings Out "Pork-Barrel Politics"
4. "Why Freedom Matters More Than Ever" -- Independent Policy Forum (12/4/01)
-------------------------------------------------------------
WOULD GOVERNMENT OVERSIGHT BE CHARITABLE?
The terrorist attacks of September 11 took not only U.S. government
officials by surprise, America's non-profit charities were totally
unprepared to handle the huge outpouring of donations they have
received in response to the attacks -- or to quickly dispense the
donated funds to the victims' families. Of the $1.19 billion
collected in the past two months, only $204 million has been
distributed.
This has provoked a tremendous outcry from donors and news
commentators. If the charities don't act quickly to improve
accountability and responsiveness to donor intent, the critics say,
federal and state governments may be justified in stepping in.
Members of Congress even proposed federal and state oversight of the
charities during two hearings on Capitol Hill last week.
Lack of accountability to donors is not a problem that plagues only
charities (although in the present case, IRS laws may be largely to
blame, since charities must take the time to ensure that aid
recipients are legally qualified to receive charity). America's
non-profit foundations have suffered from poor accountability since
long before September 11, according to Randall G. Holcombe, research
fellow at The Independent Institute, whose book WRITING OFF IDEAS
examines the economic, cultural, and intellectual implications of
tax-exempt organizations.
Many of America's best-known non-profit foundations -- the Ford
Foundation, the Rockefeller Foundation and the Carnegie Corporation,
for example -- have gone far astray from the intent of their
founders. These foundations' trustees and officers typically promote
redistributionist government policies rather than the spirit of
free-market entrepreneurship that Henry Ford, John D. Rockefeller and
Andrew Carnegie believed bestowed upon them their good fortune.
Increased government scrutiny, both for charities and for
foundations, is tempting. But, as Holcombe explains, it is a
temptation we better not succumb to. If they are too inflexible (the
charities) or too politically correct (the foundations) without
government oversight, just think of how much more so they would be
with government oversight, as special-interest groups try to pressure
regulators to politicize charitable activities.
"We should hope for better performance from foundation trustees and
management," writes Holcombe. "[B]ut at this point additional
government restrictions would be more likely to harm rather than help
promote the public interest."
For a detailed summary of WRITING OFF IDEAS: Taxation, Foundations,
and Philanthropy in America, by Randall G. Holcombe, see
http://www.independent.org/tii/lighthouse/LHLink3-45-1.html.
To order WRITING OFF IDEAS, see
http://www.independent.org/tii/lighthouse/LHLink3-45-2.html.
-------------------------------------------------------------
DRUG LAW REFORM UP IN SMOKE
About 1.5 million Americans were arrested on drug charges last year
-- an all-time high -- and eight out of ten of them were arrested for
marijuana possession. If you think that this startling statistic is
likely to drop in the near future, as law enforcement focuses on
anti-terrorism, think again.
President Bush's new drug czar, John Walters, who was confirmed 14-5
by the Senate Judiciary Committee last week, shows every sign of
increasing enforcement of the nation's drug laws -- despite large
segments of public opinion supporting drug decriminalization and a
growing number of judges fed up with the government's
counterproductive "War on Drugs." Even medical marijuana clubs that
operate with voter approval can expect a crackdown under Walters.
Despite the predicted escalation of the drug war domestically, the
Walters regime may leave its largest imprint on foreign lands, where
U.S. drug laws reverberate even louder but far out of earshot for
most Americans. To get a take of Walters's drug-war diplomacy: When
the Peruvian military shot down an airplane carrying two American
missionaries (claiming they thought it was carrying drugs), Walters
must have viewed the missionaries' deaths as unfortunate but
unavoidable collateral damage. He did, after all, earlier praise the
Peruvian military's practice -- in violation of international law --
of shooting down planes thought to be used by drug smugglers.
So, unless Walters does something to force his resignation, such as
have an affair with an intern, American citizens can look forward to
increased drug incarcerations, drug turf battles, drug-related crime
and a foreign policy tainted by a marriage of therapeutic rhetoric
and preemptive militarism against possible drug smugglers. In other
words, for the remainder of the Bush administration the prospects for
positive drug-law reform have gone up in smoke.
For more information on drug law reform, see the transcript of "The
Drug War on Trial: Two Judges Speak Out," an Independent Policy Forum
featuring Judge James P. Gray and Judge Vaughn Walker, at
http://www.independent.org/tii/lighthouse/LHLink3-45-3.html.
For information about the U.S. Drug War on foreign soil, see the
transcript of "The War on Drugs: Who Is Winning? Who Is Losing?" an
Independent Policy Forum featuring Alexander Cockburn, Jonathan
Marshall and Peter Dale Scott, at
http://www.independent.org/tii/lighthouse/LHLink3-45-4.html.
and:
"What Will Congress Do About New CIA-Drug Revelations?" by Peter Dale
Scott (SAN FRANCISCO CHRONICLE, 6/19/00), at
http://www.independent.org/tii/lighthouse/LHLink3-45-5.html.
Also see op-eds by Alex Tabarrok, research director of The
Independent Institute:
"It's California versus the Feds on Medical Marijuana" (SAN DIEGO
UNION-TRIBUNE, 10/17/99)
http://www.independent.org/tii/lighthouse/LHLink3-45-6.html.
"Barry McCaffrey Should Resign" (PITTSBURGH REVIEW-TRIBUNE, 6/20/00)
http://www.independent.org/tii/lighthouse/LHLink3-45-7.html.
-------------------------------------------------------------
BATTLE BRINGS OUT "PORK-BARREL POLITICS"
Reporter Jon Dougherty capably spells out the case against the
"military-industrial-congressional complex," highlighting the ways in
which pork-barrel politics as usual has led to an over reliance on
Cold War-type of defense spending, rather than the rethinking needed
in the age of global terrorism, in a recent article for WorldNetDaily.
Drawing largely upon the work of Robert Higgs, senior fellow at The
Independent Institute, Mr. Dougherty explains that both the U.S.
Congress and the Department of Defense are culpable in wasting
taxpayers' money on inappropriate weapons systems.
"Higgs," writes Dougherty, "says pressure from defense contractors
coupled with the typical bureaucracy of the Defense Department and
politicians 'beholden to the military-industrial-congressional
complex' is turning the war between 'the U.S. and Osama bin Laden's
al-Qaida network into a more traditional exercise in pork-barrel
politics."
See "Battle Brings Out 'Pork-Barrel Politics,'" by Jon Dougherty
(WorldNetDaily, 11/9/01), at
http://www.independent.org/tii/lighthouse/LHLink3-45-8.html.
Also see by Robert Higgs:
"The Cold War Is Over, but U.S. Preparation for It Continues" (THE
INDEPENDENT REVIEW, Fall 2001)
http://www.independent.org/tii/lighthouse/LHLink3-45-9.html.
"World War II and the Military-Industrial-Congressional Complex"
(FREEDOM DAILY, 5/95), at
http://www.independent.org/tii/lighthouse/LHLink3-45-10.html.
"The Cold War Economy: Opportunity Costs, Ideology, and the Politics
of Crisis" (EXPLORATIONS IN ECONOMIC HISTORY, 7/94)
http://www.independent.org/tii/lighthouse/LHLink3-45-11.html.
-------------------------------------------------------------
"WHY FREEDOM MATTERS MORE THAN EVER" -- Independent Policy Forum (12/4/01)
To overcome the new threat of terrorism and a faltering economy, must
freedom be restricted? Americans hold that freedom makes economic
progress and the good society possible -- yet many support curtailing
freedom during national crises. Economist DAVID R. HENDERSON,
however, holds that freedom is as important during wartime and
recession as it is during peacetime and prosperity.
Based on his insightful and inspiring new book, THE JOY OF FREEDOM,
Dr. Henderson will demonstrate the power of individual choice and
free markets to improve education, health, the environment,
community, culture, and much more.
Not only is the intellectual battle for freedom exciting and just,
according to Dr. Henderson, it is crucial for ensuring lasting peace,
security and harmony.
SPEAKER:
-- DAVID R. HENDERSON (Professor of Economics, Naval Postgraduate
School) is author of THE JOY OF FREEDOM: An Economist's Odyssey
WHEN:
Tuesday, December 4, 2001
Reception and book signing: 6:30 p.m.
Program: 7:00 - 8:30 p.m.
WHERE:
The Independent Institute Conference Center
100 Swan Way
Oakland, CA 94621-1428
For a map and directions, see
http://www.independent.org/tii/tii_info/about.html#map
TICKETS: $30.00 per person: includes one copy of THE JOY OF FREEDOM:
An Economist's Odyssey. Admission without a book is $12 per person
($8 for Independent Institute Associate Members). Reserve tickets by
calling (510) 632-1366.
Praise for David R. Henderson's THE JOY OF FREEDOM: An Economist's Odyssey:
"THE JOY OF FREEDOM is an engaging tale of Henderson's odyssey to the
wonders of freedom."
-- JOHN STOSSEL, correspondent, ABC News
"THE JOY OF FREEDOM is passionate and eloquent, yet at the same time,
thoughtful, informed, and profound. A splendid statement of the moral
case for a free society, at the same time it is an informed and
comprehensive survey of its practical virtues and of the harm done by
widespread government intervention."
-- MILTON FRIEDMAN, Nobel Laureate in Economics
"THE JOY OF FREEDOM is a dazzling intellectual memoir, a high-level
lesson in market economics, a terrific read."
-- DANIEL SELIGMAN, columnist, FORBES Magazine
"A superb lesson from one of the masterly economics teachers."
-- AMITY SHLAES, columnist, FINANCIAL TIMES
For more about this event, see
http://www.independent.org/tii/lighthouse/LHLink3-45-12.html.
-------------------------------------------------------------
THE LIGHTHOUSE, edited by Carl P. Close, is made possible by the
generous contributions of supporters of The Independent Institute. If
you enjoy THE LIGHTHOUSE, please consider making a donation to The
Independent Institute. For details on the Independent Associate
Membership program, see
http://www.independent.org/tii/lighthouse/LHLink3-45-13.html or
contact Mr. Rod Martin by phone at 510-632-1366 x114, fax to
510-568-6040, email to <[email protected]>, or snail mail to
The Independent Institute, 100 Swan Way, Oakland, CA 94621-1428. All
contributions are tax-deductible. Thank you!
-------------------------------------------------------------
For previous issues of THE LIGHTHOUSE, see
http://www.independent.org/tii/lighthouse/LHLink3-45-14.html.
-------------------------------------------------------------
For information on books and other publications from The Independent
Institute, see
http://www.independent.org/tii/lighthouse/LHLink3-45-15.html.
-------------------------------------------------------------
For information on The Independent Institute's upcoming Independent
Policy Forums, see
http://www.independent.org/tii/lighthouse/LHLink3-45-16.html.
-------------------------------------------------------------
To subscribe (or unsubscribe) to The Lighthouse, please go to
http://www.independent.org/subscribe.html, choose "subscribe" (or
"unsubscribe"), enter your e-mail address and select "Go."
-------------------------------------------------------------
THE LIGHTHOUSE
ISSN 1526-173X
Copyright ? 2001 The Independent Institute
100 Swan Way
Oakland, CA 94621-1428
(510) 632-1366 phone
(510) 568-6040 fax
| ||
arora-h/deleted_items/111.
|
subject: THE LIGHTHOUSE: November 19, 2001
content: THE LIGHTHOUSE
"Enlightening Ideas for Public Policy..."
Vol. 3, Issue 45
November 19, 2001
Welcome to The Lighthouse, the e-mail newsletter of The Independent
Institute, the non-politicized, public policy research organization
<http://www.independent.org>. We provide you with updates of the
Institute's current research publications, events and media programs.
Do you know someone who would enjoy THE LIGHTHOUSE? Please forward
this message to a friend. If they like it, they can add themselves to
the list at http://www.independent.org/tii/lighthouse/Lighthouse.html.
-------------------------------------------------------------
IN THIS WEEK'S ISSUE:
1. Revised Draft No Better Than Original
2. The Second Amendment, the Courts and the Professoriate
3. Why "Smart Growth" Isn't
-------------------------------------------------------------
REVISED DRAFT NO BETTER THAN ORIGINAL
Although President Bush said he would resist efforts to reinstate
conscription, its growing popularity among the pundit class is likely
to make the draft an important topic in upcoming public debate. But
don't expect this discussion to exactly parallel the debate that led
to its termination in 1973.
Today's "war against terrorism" is creating a dynamic that is
redrawing the domestic political landscape, creating new coalitions
potentially strong enough to have the draft reinstated.
Most of the nation's political groups have factions that would like
to see some type of involuntary servitude, be they anti-capitalist
"progressives" who want to see the best of the nation's youth
derailed from the career fast track, nationalistic "conservatives"
who want to mandate "patriotism" and reinvigorate a strong sense of
nation-consciousness, or Demopublican "moderates," such as Secretary
of State Colin Powell, who want youth to make "voluntarism" a high
priority.
But just as the war on terrorism is "like no other war" (Bush), so
the next draft is not your father's draft. Charles Moskos and Paul
Glastris, writing in the WASHINGTON POST, make clear that the new
draft will be packaged not as a cheap, quick way to enlarge the
military, but as a new form of government-assisted public expression
of the conscripts' values, i.e., a form of choice! Draftees will thus
have their pick among, for example, the armed services, homeland
defense jobs, such as airport security, and civilian national-service
programs, such as AmeriCorps. As Independent Institute senior fellow
Robert Higgs says, "some choice."
"Moskos and Glastris's proposal raises several important questions,"
writes Higgs, "none of which they see fit to consider. Perhaps in a
follow-up article they will tell us: Whatever happened to the idea
that every person, even a young man, has inalienable rights to life,
liberty, and the pursuit of happiness? Whatever happened to the idea
that a just government is instituted to secure these rights, not to
crush them underfoot upon the earliest pretext? What exactly do we
gain if we can defend ourselves only by destroying the very heart and
soul of what it is about this country that deserves defending?"
See "Will the Draft Rise from the Dead?" by Robert Higgs
(LewRockwell.com, 11/15/01), at
http://www.independent.org/tii/lighthouse/LHLink3-46-1.html.
For detailed background on the growth of government and the draft,
see "War and Leviathan in Twentieth-Century America: Conscription as
the Keystone," by Robert Higgs, at
http://www.independent.org/tii/lighthouse/LHLink3-46-2.html.
-------------------------------------------------------------
THE SECOND AMENDMENT, THE COURTS AND THE PROFESSORIATE
The most important firearm case in years, United States v. Emerson,
was a solid victory for the rights of gun owners. One of the
strengths of the decision, rendered earlier this year by the U.S.
Court of Appeals for the Fifth Circuit, was its citation of the vast
body of scholarship that supports the individual rights
interpretation of the Second Amendment, as well as numerous
statements made by America's founders showing that "the right of the
people to keep and bear arms" was intended to protect an individual
right. This alone will help ensure that the correct interpretation of
the Second Amendment will spread, as jurists, attorneys, and law
students study the decision's citations for years to come.
Critics of the individual-rights interpretation, however, have not
relented. But neither has Independent Institute research fellow and
Second Amendment attorney Stephen Halbrook, author of the classic
book, THAT EVERY MAN BE ARMED: The Evolution of a Constitutional
Right, as he made clear in two recent replies to prominent law school
professors.
According to Prof. Michael Dorf of Columbia University Law School,
despite the Emerson decision the individual-rights interpretation of
the Second Amendment is as much a "fraud on the American public" as
when ex-Chief Justice Warren Burger passed that judgement nearly
twelve years ago. Halbrook, however, explains that the Emerson "is
the first ever federal appellate opinion to contribute an adequate
textual analysis of the Second Amendment." Thus, the decision
observed that "throughout the Constitution, the 'people' have
'rights' and 'powers,' but federal and state governments only have
'powers' or 'authority,' never 'rights.'"
Further, says Dorf, the Second Amendment protects only an armed
militia, as indicated by the preamble, "A well regulated militia,
being necessary to the security of a free state...." Responds
Halbrook: "But as Emerson explains, this preamble announces the
objective of securing a free state by a militia, which in turn is
encouraged by and drawn from the people who exercise the right to
keep and bear arms." Similarly, Halbrook easily dispatches numerous
other distortions by Dorf.
Unlike Dorf, constitutional scholars Amar Akhil (Yale) and Vikram
Amar (UC Hastings) have a generally correct assessment about the
Emerson decision but are guilty of committing a few historical
oversights. For example, the Amars state that "the Emerson court
found only one clear nonmilitary use of the phrase before 1798," but
they overlook numerous statements by Jefferson, Madison and Adams
explicitly advocating the protection of a right to keep and bear
firearms for self-defense.
See:
"Reports of the Death of the Second Amendment Have Been Greatly
Exaggerated: The Emerson Decision," by Stephen P. Halbrook, at
http://www.independent.org/tii/lighthouse/LHLink3-46-3.html.
"Emerson's Second Amendment," Stephen P. Halbrook, at
http://www.independent.org/tii/lighthouse/LHLink3-46-4.html.
For a summary of the new edition of Stephen P. Halbrook's classic,
THAT EVERY MAN BE ARMED: The Evolution of a Constitutional Right, see
http://www.independent.org/tii/lighthouse/LHLink3-46-5.html.
-------------------------------------------------------------
WHY "SMART GROWTH" ISN'T
High-density living, characterized by "transit villages" close to
public transportation, will reduce air pollution, save commuters from
the aggravation of traffic congestion and contribute to an improved
quality of life in our communities, according to proponents of the
faddish "smart growth" movement.
Are these claims true? Would we be better off moving back to the
cities and junking our cars?
According to urban economists Daniel Klein and Randal O'Toole -- who
discussed these questions in our Oct. 3rd Independent Policy Forum,
"Smarter Urban Growth: Markets or Bureaucracy?" -- the "smart
growth" movement is "smart" in name only, since many of its policies
work against their intended goals.
Smart growth advocates uphold public rail systems in European cities
as models but ignore the fact that with few exceptions American
cities lack the population density needed to make rail systems
cost-effective. And with good reason: automobiles are more flexible,
faster, affordable, safe and comfortable. And as cars have improved
in quality, the U.S. urban public transit market has been shrinking.
Hence, cities that build rail systems display little economic sense
but plenty of what Klein called "infrastructure envy."
O'Toole pointed out that the costs of smart growth are significantly
larger than its proponents recognize. Drawing largely upon the
experience of Portland, Oregon, O'Toole showed how smart-growth
policies have led to escalating housing prices, tied up the 98% of
the state that remains rural open space, and contributed to bad
traffic congestion and air pollution.
For the transcript of "Smarter Urban Growth: Markets or Bureaucracy?"
with Dan Klein and Randal O'Toole, see
http://www.independent.org/tii/lighthouse/LHLink3-46-6.html.
Also see:
"Curb Rights: Eliciting Competition and Entrepreneurship in Urban
Transit" by Daniel Klein, Adrian Moore, and Binyamin Reja (THE
INDEPENDENT REVIEW, Summer 1997), at
http://www.independent.org/tii/lighthouse/LHLink3-46-7.html.
"Is Urban Planning "Creeping Socialism"? by Randal O'Toole (THE
INDEPENDENT REVIEW, Spring 2000), at
http://www.independent.org/tii/lighthouse/LHLink3-46-8.html.
"The Lone Mountain Compact: Principles for Preserving Freedom and
Livability in America's Cities and Suburbs" at
http://www.independent.org/tii/lighthouse/LHLink3-46-9.html.
-------------------------------------------------------------
THE LIGHTHOUSE, edited by Carl P. Close, is made possible by the
generous contributions of supporters of The Independent Institute. If
you enjoy THE LIGHTHOUSE, please consider making a donation to The
Independent Institute. For details on the Independent Associate
Membership program, see
http://www.independent.org/tii/lighthouse/LHLink3-46-10.html
or contact Mr. Rod Martin by phone at 510-632-1366 x114, fax to
510-568-6040, email to <[email protected]>, or snail mail to
The Independent Institute, 100 Swan Way, Oakland, CA 94621-1428. All
contributions are tax-deductible. Thank you!
-------------------------------------------------------------
For previous issues of THE LIGHTHOUSE, see
http://www.independent.org/tii/lighthouse/LHLink3-46-11.html.
-------------------------------------------------------------
For information on books and other publications from The Independent
Institute, see
http://www.independent.org/tii/lighthouse/LHLink3-46-12.html.
-------------------------------------------------------------
For information on The Independent Institute's upcoming Independent
Policy Forums, see
http://www.independent.org/tii/lighthouse/LHLink3-46-13.html.
-------------------------------------------------------------
To subscribe (or unsubscribe) to The Lighthouse, please go to
http://www.independent.org/subscribe.html, choose "subscribe" (or
"unsubscribe"), enter your e-mail address and select "Go."
-------------------------------------------------------------
THE LIGHTHOUSE
ISSN 1526-173X
Copyright ? 2001 The Independent Institute
100 Swan Way
Oakland, CA 94621-1428
(510) 632-1366 phone
(510) 568-6040 fax
| ||
arora-h/deleted_items/113.
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subject: $5 Offer for Cardmembers
content: THINK OUT OF THE BOX (THE MAILBOX, THAT IS)
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Then simply go to "Manage My Account" and click on "Stop
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YOU PAY YOUR BILL ELECTRONICALLY.
WHY NOT GET YOUR STATEMENTS THAT WAY, TOO?
You pay your bills online. Why not get your statements that same
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GET A $5 CREDIT ON YOUR AT&T UNIVERSAL CARD STATEMENT.
When you sign up before November 30, 2001, you'll receive a
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YOU'RE A FEW CLICKS AWAY FROM LESS PAPERWORK IN YOUR LIFE.
Instead of filing, sorting and trying to remember where you
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you must be enrolled in All-Electronic for four consecutive
months to be eligible. No statement credits will be awarded
to accounts enrolled in All-Electronic for less than four consecutive
months. Statement credit will be posted on your March 2002 statement.
Your account must remain open and in good standing per your AT&T
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ABOUT THIS MESSAGE
If you have difficulty linking to any of the above URLs, simply cut
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This is a message from Universal Card Services Corp. If you'd like to
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of messages, please go to:
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UNIVERSAL CARD SERVICES CORP. IS COMMITTED TO YOUR PRIVACY
As a member of Citigroup, Universal Card Services Corp. is committed
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| ||
arora-h/deleted_items/114.
|
subject: Real Deals from Travelocity
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arora-h/deleted_items/115.
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subject: Subject: Entergy OASIS outage between 01:00 and 05:00 CST on
content: On November 17, 2001 between 01:00 and 05:00 Entergy will be switching to an OASIS node provided by ESCA. During the outage customers will NOT have access to the current OASIS site provided by MAIN. Once the OASIS comes back online there will be a link at the current OASIS site provided by MAIN that will direct customers to the new OASIS site provided by ESCA. Once the new OASIS node is up, the customers should not have any trouble accessing the site.
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Entergy Transmission Operations
| ||
arora-h/deleted_items/116.
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subject: Entergy's new OASIS node is now available
content: Entergy's new OASIS node is now available. The URL for the new node is http://oasis.e-terrasolutions.com/OASIS/EES
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Customers who have difficulty accessing Entergy's new OASIS site should contact Entergy System Operations at 870 541 3977.
| ||
arora-h/deleted_items/117.
|
subject: Gas Indices
content: <HTML>
<TITLE>Gas Indices - IntercontentalExchange</TITLE>
<BODY>
<P>
<P ALIGN=CENTER>
<FONT SIZE=+1>
<B>
IntercontinentalExchange
</B><BR>
</FONT>
Firm Physical Natural Gas Price Bulletin
<BR>
<BR><B>
For Natural Gas Delivered on Thursday, November 22, 2001 thru Monday, November 26, 2001
</B>
<BR>
<FONT SIZE=-1>
<I>
(Trade Date of Wednesday, November 21, 2001)
</I>
</FONT>
<BR><BR>
Click here to access <A HREF="http://www.intcx.com/SubscriberServlet/subscriberservlet.class?operation=gasIndexForm&hub=All">index history</A>.
<BR>
<BR>
<FONT SIZE=-1>
<I>
* volume represents sell-side only *
</I>
</FONT>
</P>
<TABLE ALIGN="CENTER" WIDTH="100%" cellspacing="8">
<TR>
<TH align=left valign=bottom width="15%"> <FONT size=-1><U><I>Region</I></U><BR> <U>Hub</U></FONT></TH><TH align=right valign=bottom width="6%"><FONT size=-1><U>High</U></FONT></TH>
<TH align=right valign=bottom width="6%"><FONT size=-1><U>Low</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Wtd Avg Index</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Change ($)</U></FONT></TH>
<TH align=right valign=bottom width="9%"><FONT size=-1><U>Vol (mmBtu)</U></FONT></TH>
<TH align=left valign=bottom width="42%"><FONT size=-1><U>Hub Name</U></FONT></TH></TR>
</TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>LOUISIANA<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>ANR SE</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8645</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7481</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,068,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>American Natural Resources Pipeline Co. - SE Transmission Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia Onshore</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8317</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .6560</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,342,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gulf Transmission Co. - Onshore Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Henry Hub</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2450</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9115</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7065</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 5,318,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Henry Hub tailgate - Louisiana </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL LA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8028</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7152</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 935,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 500L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6025</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7718</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7577</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 603,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 800L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8127</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .6713</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 775,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8862</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7131</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 610,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - East LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO WLA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7888</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .8088</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 946,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - West LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco 65</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9390</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7366</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,040,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transco - Station 65 </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Trunkline ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8091</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7390</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 369,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Trunkline Gas Company - East Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TxGas SL</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8971</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7273</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 993,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Gas Transmission Corp.-Zone SL FT Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>MIDCONTINENT<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>MichCon, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1075</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .6977</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 977,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Michigan Consolidated </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Midcont</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7032</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7773</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 764,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Mid-Continent Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Nicor, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7475</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8816</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7266</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 2,890,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Nicor Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL NIPSCO, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0850</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8770</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .8610</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 450,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Nipsco Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NNG Demarcation</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7476</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7355</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 907,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Northern Natural Gas, Demarcation Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>NORTHEAST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia TCO</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9483</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7804</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 772,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gas Co. - TCO Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Dominion So.Point</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1367</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7606</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 997,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Dominion - South Point </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO M3</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1651</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .8869</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 831,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - M3 Zone </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco Z-6 (NY)</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3261</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .9184</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 725,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso non-Bondad</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.3200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.4438</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .9084</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,081,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - San Juan Basin, Blanco Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> Huntingdon/Sumas</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.6757</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7201</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 732,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Westcoast Energy & Northwest Pipeline Corp.</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Opal</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.3200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.4566</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .7948</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,024,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Opal</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>PG&E Citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7012</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .8513</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 980,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>PG&E - Citygate </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> SoCal Border</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.4500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.5886</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .9707</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,145,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Southern California Border Points (Ehrenberg,Topock,Needles)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST TEXAS<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso - Keystone</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.4500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.5963</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .8563</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 2,508,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - Keystone Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Waha</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.6598</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .8520</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,445,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Waha Hub - West Texas </FONT></TD></TR>
</TABLE>
<P>
<FONT SIZE=-1>
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arora-h/deleted_items/118.
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subject: Power Indices
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<p align=center style='text-align:center'><b><span style='font-size:13.5pt'>IntercontinentalExchange
</span></b><span style='font-size:13.5pt'><br>
</span>Firm Power Price Bulletin <br>
<br>
<b>For Power Delivered on Friday, November 23, 2001 </b><br>
<i><span style='font-size:10.0pt'>(Trade Date of Wednesday, November 21, 2001) </span></i><br>
<br>
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<br>
<i><span style='font-size:10.0pt'>* volume represents sell-side only * </span></i></p>
<div align=center>
<table border=0 cellpadding=0 width="70%" style='width:70.0%;mso-cellspacing:
1.5pt;mso-padding-alt:0in 0in 0in 0in'>
<tr>
<td width="15%" style='width:15.0%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><b><u><span style='font-size:10.0pt'>Hub</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>High</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Low</span></u><o:p></o:p></b></p>
</td>
<td width="22%" style='width:22.0%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Wtd Avg Index</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Change ($)</span></u><o:p></o:p></b></p>
</td>
<td width="19%" style='width:19.0%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Vol (Mwh)</span></u><o:p></o:p></b></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Cinergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$14.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$15.47</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 5.42</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>7,200</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Comed</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$13.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$13.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$13.00</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 3.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>800</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Entergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$18.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$16.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$17.06</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 3.26</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>11,200</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Nepool</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$28.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$28.25</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$28.38</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 3.62</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>3,200</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>* Palo Verde</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$22.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$19.99</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> 4.33</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>16,800</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>PJM-West</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$20.10</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$19.90</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$19.99</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 5.47</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>33,600</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>* SP-15</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$23.95</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$20.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$22.75</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> 5.26</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>28,800</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>TVA</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$15.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$15.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$15.25</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>-</span></b><span style='font-size:10.0pt'> 5.08</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>2,400</span></p>
</td>
</tr>
</table>
</div>
<p><b><span style='mso-tab-count:3'> </span></b><b><span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt'>* </span></b><i><span
style='font-size:10.0pt;mso-bidi-font-size:12.0pt'>Trade date of Tuesday, November
20<sup>th</sup>, 2001</span></i><b><span style='font-size:10.0pt;mso-bidi-font-size:
12.0pt'><o:p></o:p></span></b></p>
<p align=center style='text-align:center'><b><![if !supportEmptyParas]> <![endif]><o:p></o:p></b></p>
<p align=center style='text-align:center'><b>For Power Delivered on Monday, November
26, 2001 </b><br>
<i><span style='font-size:10.0pt'>(Trade Date of Wednesday, November 21, 2001) </span></i><br>
<span style="mso-spacerun: yes"> </span><br>
<i><span style='font-size:10.0pt'>* volume represents sell-side only * </span></i></p>
<div align=center>
<table border=0 cellpadding=0 width="70%" style='width:70.0%;mso-cellspacing:
1.5pt;mso-padding-alt:0in 0in 0in 0in'>
<tr>
<td width="12%" style='width:12.84%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><b><u><span style='font-size:10.0pt'>Hub</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>High</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Low</span></u><o:p></o:p></b></p>
</td>
<td width="20%" style='width:20.02%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Wtd Avg Index</span></u><o:p></o:p></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Change ($)</span></u><o:p></o:p></b></p>
</td>
<td width="16%" style='width:16.84%;padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><u><span
style='font-size:10.0pt'>Vol (Mwh)</span></u><o:p></o:p></b></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Cinergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$21.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$18.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$19.14</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> 3.67</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>11,200</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Comed</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$17.33</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> 4.33</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>2,400</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Entergy</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$20.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$18.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$19.33</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> 2.27</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>8,800</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Nepool</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$32.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$31.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$32.33</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'>3.95</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>2,400</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>Palo Verde<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$23.00<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$20.00<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$21.00<o:p></o:p></span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'>1.01<b><o:p></o:p></b></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>6,000<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>PJM-West</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$25.15</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$24.75</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$24.90</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'> 4.91</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>18,400</span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>SP-15<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$24.50<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$23.25<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$23.90<o:p></o:p></span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>+1.15<o:p></o:p></span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>6,800<o:p></o:p></span></p>
</td>
</tr>
<tr>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal><span style='font-size:10.0pt'>TVA</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$19.50</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>$17.00</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>$18.70</span></b></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><b><span
style='font-size:10.0pt'>+</span></b><span style='font-size:10.0pt'>3.45</span></p>
</td>
<td style='padding:.75pt .75pt .75pt .75pt'>
<p class=MsoNormal align=right style='text-align:right'><span
style='font-size:10.0pt'>4,000</span></p>
</td>
</tr>
</table>
</div>
<p style='margin-left:.25in'><i><span style='font-size:10.0pt'><![if !supportEmptyParas]> <![endif]><o:p></o:p></span></i></p>
<p style='margin-left:.25in'><i><span style='font-size:10.0pt'><![if !supportEmptyParas]> <![endif]><o:p></o:p></span></i></p>
<p><i><span style='font-size:10.0pt'>Includes all trades done from 6 AM to 11
AM Central Prevailing Time on the trade date specified for financially firm
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arora-h/deleted_items/119.
|
subject: GS Daily RV comment. Tues 20th Nov 01.
content: COMMENTS
EUR SWAPS
Pretty subdued mkt yest after last week's volatile session. Better receiving
in 5yr sector took swap spreads narrower by 1.5bps & brought 10yr and 30yrs
in heading for 1bps too. With the 5yr sector underperforming again on the
curve yest in both swaps and cash, 2-5's steepened 1.5bps, 5-10's flattened
1bps & the 2-5-10's fly retracted up to 8bps again. The only major swap flow
was 400mln 7yrs on an o'right basis, Japanese payer and looked to be related
to an option structure. Cedulas Cajas 2.5bn 7yr due to be priced today, do
expect to be swapped, although how much will be bought on asset swap so
offsetting that flow. This morning, broadly quiet, 2yr and 5yr outperforming
led by futures, swap spreads uo to 0.75bps wider in both & 10yr unch so far.
GOVT ISSUANCE
Date Day Issue Size
22-Nov-01 Thursday France 5-Year BTAN 3.50 Expected
Reverse Auction 2.00 Maximum
27-Nov-01 Tuesday Greece 10-Year GGB 1.50 Expected
29-Nov-01 Thursday Italy 3-Year BTP 1.00
Expected
10-Year BTP 2.00 Expected
05-Dec-01 Wednesday Spain 5-Year Bono 1.00 Expected
15-Year Bono 0.50 Expected
06-Dec-01 Thursday France 10-Year OAT 2.00 Expected
15/30-Year OAT 0.75 Expected
07-Dec-01 Friday Spain 10-Year Bono 1.00 Expected
Over the past week, government issuance has totalled about Eur14.8bn; it has
been concentrated in the five-year sector (about Eur11bn), with the
reopening of the Bobl138 and a large five-year reopening in Italy. This
week, supply will be lighter, with only the launch of the new five-year BTAN
3.75% Jan 2007 in France (Eur3.5bn expected). On top of this, France will
proceed to another round of buy-backs: in the reverse auction, the OATs 4%
April 2009, 4% of October 2009, and 5.5% April 2010 will be bought back for
a maximum total amount of Eur2bn. The following week, auctions are scheduled
in Greece and Italy (Eur4.5bn expected).
LEVELS (close to close, ex basis)
SWAP CURVE
GBP/EUR(EUR convention)
today t-1
5y5y -22 -24
15y15y -147 -148
10/30? -39.0 -40.0
10/30E +45.5 +45.1
EUR SWAP SPREADS
5y: Bobl 138 25.6 1.6 narrower
10y: Jan 11 bund 33.8 0.8 narrower
30y: Jan 31 bund 22.2 0.9 narrower
GBP SWAP SPREADS
5y: 8h Dec 05 54.0 unchd
10y: 9 Sep 11 48.0 1.0 narrower
30y: 6 Dec 28 34.0 3.0 narrower
EUR SWAP VOLATILITY
3m into 10yr 14.3 0.5 higher
1y into 10yr 12.9 0.4 higher
2y into 10y 12.4 0.1 higher
5y into 5y 12.2 0.1 higher
5y into 25y 10.3 0.1 higher
10y into 20y 9.7 0.2 higher
5y5y swaption/5x10 cap spread 2.5
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where such an offer or solicitation would be illegal. Certain transactions,
including those involving futures, options, and high yield securities, give
rise to substantial risk and are not suitable for all investors. The
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represent that it is accurate or complete, and it should not be relied upon
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| ||
arora-h/deleted_items/12.
|
subject: Gas Indices
content: <HTML>
<TITLE>Gas Indices - IntercontentalExchange</TITLE>
<BODY>
<P>
<P ALIGN=CENTER>
<FONT SIZE=+1>
<B>
IntercontinentalExchange
</B><BR>
</FONT>
Firm Physical Natural Gas Price Bulletin
<BR>
<BR><B>
For Natural Gas Delivered on Saturday, December 22, 2001 thru Wednesday, December 26, 2001
</B>
<BR>
<FONT SIZE=-1>
<I>
(Trade Date of Friday, December 21, 2001)
</I>
</FONT>
<BR><BR>
Click here to access <A HREF="http://www.intcx.com/SubscriberServlet/subscriberservlet.class?operation=gasIndexForm&hub=All">index history</A>.
<BR>
<BR>
<FONT SIZE=-1>
<I>
* volume represents sell-side only *
</I>
</FONT>
</P>
<TABLE ALIGN="CENTER" WIDTH="100%" cellspacing="8">
<TR>
<TH align=left valign=bottom width="15%"> <FONT size=-1><U><I>Region</I></U><BR> <U>Hub</U></FONT></TH><TH align=right valign=bottom width="6%"><FONT size=-1><U>High</U></FONT></TH>
<TH align=right valign=bottom width="6%"><FONT size=-1><U>Low</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Wtd Avg Index</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Change ($)</U></FONT></TH>
<TH align=right valign=bottom width="9%"><FONT size=-1><U>Vol (mmBtu)</U></FONT></TH>
<TH align=left valign=bottom width="42%"><FONT size=-1><U>Hub Name</U></FONT></TH></TR>
</TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>LOUISIANA<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>ANR SE</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4750</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5388</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0141</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,445,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>American Natural Resources Pipleline Co. - SE Transmission Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia Onshore</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5350</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5698</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0127</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 749,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gulf Transmission Co. - Onshore Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Henry Hub</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.6271</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0308</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 4,128,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Henry Hub - Tailgate, Louisiana </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL LA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5323</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0311</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,215,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America - Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 500L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5341</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0034</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 622,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co. - Zone L, 500 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 800L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5449</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0215</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 499,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co. - Zone L, 800 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5950</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5412</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0004</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,013,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - East LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO WLA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4980</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0194</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 296,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - West LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco 65</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.6414</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0169</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 853,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transcontinental Gas Pipeline Corp. - Station 65 </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Trunkline ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5072</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0057</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 267,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Trunkline Gas Company - East Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TxGas SL</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5855</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0079</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,578,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Gas Transmission Corp. - Zone SL FT Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>MIDCONTINENT<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>MichCon, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6050</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.6475</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0341</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 622,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Michigan Consolidated Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Midcont</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4614</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0837</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 608,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America - Mid-Continent Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Nicor, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3350</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4366</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0540</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 3,441,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America - Nicor Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL NIPSCO, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5365</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0755</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 713,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America - Nipsco Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NNG Demarcation</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4350</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5112</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0862</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 760,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Northern Natural Gas - Demarcation Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>NORTHEAST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia TCO</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.8100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.7113</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0179</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,717,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gas Co. - TCO Pool (Appalachia)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Dominion So.Point</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.6965</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0143</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,122,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Dominion - South Point </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO M3</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $3.0300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.9000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.9841</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0136</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,663,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - M3 Zone </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco Z-6 (NY)</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $3.1000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.9800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $3.0265</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0258</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 290,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transcontinental Gas Pipeline Corp. - Zone 6 (NY)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso non-Bondad</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3989</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0136</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 645,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - San Juan Basin, Blanco Pool (non-Bondad)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> Huntingdon/Sumas</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4600</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0156</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 50,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Westcoast Energy & Northwest Pipeline Corp.</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Opal</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3117</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0134</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 856,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Opal Plant Tailgate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>PG&E Citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.7351</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0366</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 730,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>PG&E - Citygate </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> SoCal Border</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.5398</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0047</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 357,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Southern California Border Points (Ehrenberg,Topock,Needles)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST TEXAS<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso - Keystone</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4371</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0440</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,532,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - Keystone Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Waha</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4889</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0339</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 775,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Waha Hub - West Texas </FONT></TD></TR>
</TABLE>
<P>
<FONT SIZE=-1>
<I>
Includes all firm physical fixed price trades done from 7 AM to 11:30 AM Central Prevailing Time on the trade date specified for natural gas delivered on the specified date(s).
</I>
<BR>
<BR>
<B>
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arora-h/deleted_items/120.
|
subject: UBSW: Preview of the confidence vote in Germany today
content: Vote of confidence on Schr?der's government today
The vote of confidence in the German lower house of parliament, the
Bundestag, is scheduled to take place at 11.00 GMT today, the result
should be out 15 to 20 minutes after that.
In test votes in the government coalition's factions this morning, only
four Greens voted against the government. As there was one defection
from the SPD faction yesterday, but all other SPD MPs voted for the
government, Chancellor Schr?der looks set to win the vote of
confidence, but it is a very tight race.
Schr?der needs 334 yes-votes of the 666 total votes in the Bundestag
and is likely to get 336 according the tests this morning.
If he loses, Schr?der has three options:
1) Form a coalition with the liberal FDP until the federal election in
the autumn of next year,
2) remain in the seat with a minority government and hope on support
from other parties for the remaining issues of the term,
3) ask the President of the Federal Republic to dissolve Parliament and
call new elections.
We feel that options 3) is the most likely of these options, 1) has a
decent probability as well but 3) is unlikely.
It is possible that the market appreciates the outlook for a more
conservative government and plays ideas like earlier tax cuts and/or
cancellation of the scheduled hike in energy taxes if Schr?der fails.
However, we believe that there will be little change in politics,
especially in economic issues, as the budget is very tight. So hopes
for more fiscal stimulus should be short-lived if they occur at all.
There is in any case going to be more uncertainty if Schr?der fails
which is never good news, but which should also have only a limited
impact on financial markets.
_______________________________________________
Holger Fahrinkrug
Senior Economist
UBS Warburg AG
Stephanstra?e 14-16, D-60313 Frankfurt, Germany
Tel. +49 69 1369 8280
Fax +49 69 1369 8221
Email: [email protected]
Visit our website at http://www.ubswarburg.com
This message contains confidential information and is intended only
for the individual named. If you are not the named addressee you
should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately by e-mail if you have received this
e-mail by mistake and delete this e-mail from your system.
E-mail transmission cannot be guaranteed to be secure or error-free
as information could be intercepted, corrupted, lost, destroyed,
arrive late or incomplete, or contain viruses. The sender therefore
does not accept liability for any errors or omissions in the contents
of this message which arise as a result of e-mail transmission. If
verification is required please request a hard-copy version. This
message is provided for informational purposes and should not be
construed as a solicitation or offer to buy or sell any securities or
related financial instruments.
| ||
arora-h/deleted_items/121.
|
subject: UBSW: German ifo business sentiment fails to recover
content: *** PDF version incl. charts is attached ***
German ifo business sentiment fails to recover
Oct 2001 Actual UBSW fc Market Previous
Headline index (1995=100) 84.7 86.0 85.0
85.0
Balance - total -26.2 -23.6 -18.7
-25.6
Balance - current conditions -27.0 -26.4 na
-27.7
Balance - expectations -25.4 -20.7 na
-23.5
n In contrast to our forecast, the ifo index of west German business
confidence failed to recover from the shock level of September. The
drop in the headline index of 0.3 points is not particularly worrisome.
However, the further decline in business expectations suggests that
production, investment and most likely employment plans have been
slashed further at the beginning of Q4.
n Although we continue to look for a stabilisation of the ifo index
soon , today?s data suggest that GDP will contract in the current
quarter, consistent with our forecast. They also cast doubts over the
expected output recovery in the early months of 2002.
The bad news in today?s ifo data is not the slight decline in the
headline index. This alone would only have underpinned forecasts of
industrial production and GDP decline in Q4 which is a consensus view
anyway. The really bad news is the further fall in business
expectations from what was considered to be an exaggeratedly weak
post-attack shock level. It suggests that German companies are still
far from concluding the ongoing process of adjustments in output,
investment ad employment.
Therefore, today?s further ifo decline not only underpins forecasts of
two consecutive GDP declines in German in Q3 and Q4, but also
challenges the widely held expectation of a recovery in industrial
output early next year. Chart 1 suggests that the latest ifo pattern
has increased the risk of a double dip in German production growth.
Despite the bad news, however, we continue to believe that the ECB will
not cut rates further this year, but prefer to wait until early 2002
with the next reduction in the refinance rate.
_______________________________________________
Holger Fahrinkrug
Senior Economist
UBS Warburg AG
Stephanstra?e 14-16, D-60313 Frankfurt, Germany
Tel. +49 69 1369 8280
Fax +49 69 1369 8221
Email: [email protected]
| ||
arora-h/deleted_items/122.
|
subject: UBSW: Germany falls into recession
content: *** PDF version is attached ***
Germany falls into recession
Q3 2001 Actual UBSW fc Market Previous
% qoq, adjusted -0.1 -0.1 -0.1 -0.0
% yoy, adjusted 0.4 0.4 0.4 0.6
% yoy, unadjusted 0.3 0.4 n/a 0.6
German GDP contracted for the second consecutive quarter and in
contrast to Q2, this time, the decline did not get lost in the rounding
of the quarterly growth rate. Hence, it is now indisputable that
Germany is in recession. Due to the bleak outlook for Q4, it is also
undisputed that it will fall even deeper into recession.
All components of final domestic demand dropped in Q3. Inventories
experienced the greatest decline in the history of the pan-German
national accounts data. Another surprise came in the form of the
greatest trade surplus ever recorded.
This pattern is unsustainable and will be reversed in the quarters
ahead. We forecast a 0.5% contraction in German GDP in the current
quarter. However, there are also some bright spots for 2002, most
importantly the outlook for an end of the inventory correction and
lower inflation which will relive private households? disposable
income. Therefore, we stick to our GDP forecast of 0.6% this year and
0.9% in 2002 on average.
Most components of domestic demand were in line with expectations in
the third quarter. Private consumption dropped 0.2% as disposable
income fell marginally and households lifted their savings to a rate of
10.5% from 10.2% in Q2. Equipment investment fell by 1.8% qoq after
downwards-revised 3.2% contraction in the second quarter. As a slight
surprise, construction investment was flat in Q3 rather than falling
further. This was the first quarter since Q3 1999 in which demand in
the sector did not decline.
The greatest surprise within domestic demand was a record EUR5.4bn fall
in inventories which resulted in a negative contribution of 1.1%pts to
annual GDP growth, the worst figure since 1993 Q1. However, it has to
be seen against the background of a 1.1% qoq rise in exports and a 2.2%
fall in imports both of which seem to at least partly reflect
logistical problems after 11 September.
As far as the outlook is concerned, there is good and bad news, with
the bad news more associated to the near term and the good news to the
more distant future. The fall in the ifo index of business confidence
suggests that equipment investment is likely to continue to fall in Q4
and in the first half of next year. We also believe that private
households will remain cautious in the Christmas season and increase
savings, also taking the introduction of new private pension schemes
next year into account. This would depress GDP growth in Q4 and the
early parts of 2002. We also expect both the negative inventory and the
positive net export contribution to growth to be reversed, but this
should have no significant net effect.
On the positive side, the ongoing decline in energy prices, which is
likely to be accompanied by lower core inflation next year, is expected
to boost real disposable income next year. In addition, at some stage,
precautionary saving is likely to be reduced both of which argues for a
consumption recovery, even in the absence of employment growth.
The substantial inventory contraction this year, which is expected to
depress average 2001 GDP growth by 0.7%pts, would argue for a partial
rebuilding in 2002, especially in the second half of the year which is
likely to lift GDP growth then as well. All in all, the outlook is
therefore for more and accelerating German GDP weakness around the turn
of the year, but for recovery in the course of 2002 which is also
expected to be supported by recovering demand from the US and other
regions of the world which are experiencing greater policy stimulus
than Germany and the euro area. Our average GDP forecast of 0.6% growth
this year and 0.9% in 2002 remains in place. Our forecast for exit
growth rates (GDP growth yoy in the fourth quarter) are ?0.3% for 2001
and 2.4% for 2002 which highlights the momentum of the recovery implied
by these average growth rates.
_______________________________________________
Holger Fahrinkrug
Senior Economist
UBS Warburg AG
Stephanstra?e 14-16, D-60313 Frankfurt, Germany
Tel. +49 69 1369 8280
Fax +49 69 1369 8221
Email: [email protected]
| ||
arora-h/deleted_items/123.
|
subject: GS Daily RV Comment - Fri Nov 16
content: COMMENTS
EUR SWAPS
Flow of the day was large and consistent paying of 2s and 3s as they were
paid in blocks of 250-500mm throughout the course of the session. This had
the effect of flattening 2/10s by an impressive 8bps and of widening swap
spreads by about 0.75bps in that part of the curve while spreads elsewhere
closed the day pretty much unchanged. Further out the curve, we saw strong
interest in the 5/10 spread though it's unclear if this was new risk or
profit taking from the dealer community. With regard to spreads, I'm
wondering if it makes sense to put on a swap spread widener here with a very
short term view. Swap spreads blew out in the US yday as the market got the
sense that most of the new issuance was out of the way and given how well
EUR spreads held in despite yday's Singtel, ATT, and EIB pricing, perhaps
EUR spreads are due for a small correction. Still like the narrower longer
term, just thinking on a very short term basis.
WHY THE FED WILL BE SLOW TO TIGHTEN
In our view the econ recovery is not likely to be very powerful. There are
large imbalances in the household and corporate sectors and the sources of
stimulus (mortgage financing, etc) are likely to be much less than
previously expected. Additionally, while it is true the nominal rates have
fallen sharply, the decline in real rates is roughly half of the decline in
nominals. On the inflation front, we believe inflation is likely to decline
further as a consequence of both excess capacity and higher unemployment.
With most major indices at 2.5% or lower, the Fed can be much more patient
than normal when they consider whether or not they need to take back some of
the 450bps of easing. Overall, we believe the Fed will want the econ to grow
at an above trend rate in order to psh it back to full employment but
against this we have a market that is now incorporating a signif amount of
tightening over the next near (Dec Euro$ up 90bps in the last week). Even
building in a risk premium of 10bps per contract, a 25bp sprd between 3m
libor and fed funds, and 15bps of year end pressure, this still implies
about 100bps of tightening by 2003. While not impossible, it neither
reflects the Fed's thinking nor appears anywhere close to the center of our
probability distrubtion.
USD SWAPS/VOL
Another 3 standard deviation event yday, with the sell-off in treasuries
snowballing as negatively convex portfolios capitulated into selling by
paying fixed at higher rates. The cork was finally removed from the
pressurized bottle in spreads - with most corporate deals out of the way -
and took their natural course by widening by 5bps. We saw heavy flows, with
paying across all sectors, save the very long end.
Vols were up on the day. Gamma shot up 0.5bps/day, which is a pretty large
move; longer expiries were up about 0.2bps/day, which is in line with the
market price of skew. Flows were not as heavy as one might have expected; at
least for the time being.
The market is clearly saying that this is the turn in the economy, and that
we're already heading for a sharp recovery, with aggressive Fed tightening
action over 2002. This seems to be somewhat premature. With no inflation in
sight, and still big signs of weakness in the economy, it is unlikely that
the Fed will reverse its course this fast. Whilst this sell-off might not be
over in the near term, (expect high volatility), we remain constructive on
the outlook for rates in the medium term.
IPOs & CORPORATE ISSUANCE
Both the coporate bond market and the equity IPO market seem to be
recovering a bit here. The avg spread tightening on the 3 Sing Tel and
4-fixed rate ATT tranches is 19bps between where the deal was priced yday
and where it opened this morning. On the equity side, not only are our sec
lending people telling us that short interest is decreasing (ie more pple
covering shorts), but IPO calendar is also firming up. The US market had its
busiest week of the year with 5 IPOS & 15 secondary offerings and can look
forward to the $3bln Prudential next month while Europe pitched in with a
$3bln convert deal for Swiss Re and expects some $9bln in new issuance by
the end of the year. While it's unclear how much underwater portfolios will
look to take on new posns going into year end and while this flood of
issuance may simply be due issuers looking to tie up loose ends before year
end, it does appear the global investor base is becoming a bit more
receptive to new deals.
LEVELS (close to close, ex basis)
SWAP CURVE
GBP/EUR(EUR convention)
today t-1
5y5y -25 -25
15y15y -144 -142
10/30? -39.0 -37.5
10/30E +44.8 +46.0
EUR SWAP SPREADS
5y: Bobl 138 26.7 unch
10y: Jan 11 bund 33.8 unch
30y: Jan 31 bund 21.6 0.2 wider
GBP SWAP SPREADS
5y: 8h Dec 05 52.0 2.0 narrower
10y: 9 Sep 11 48.0 2.0 narrower
30y: 6 Dec 28 35.0 unch
EUR SWAP VOLATILITY
3m into 10yr 13.9 unch
1y into 10yr 12.6 0.3 lower
2y into 10y 12.3 0.2 lower
5y into 5y 12.1 unch
5y into 25y 10.1 0.2 lower
10y into 20y 9.4 0.2 lower
5y5y swaption/5x10 cap spread 2.3
SCHATZ BASIS TO DEC
Bko 3.75% Sep 03 12.0 gross bid,1.40% repo offer,0.0 net
Dbr 6% Sep 03 20.0 gross bid,1.85% repo offer,-0.9 net
Tha 6% Nov 03 37.0 gross bid,3.15% repo offer,23.2 net
BOBL BASIS TO DEC
Obl 138 7.8 gross bid, 2.50% repo offer, -1.7 net
Jan 07 39.0 gross bid, 3.15% repo offer, 26.7 net
BUND BASIS TO DEC
5.25% July 10 11.5 gross bid,2.20% repo offer,-3.4 net
5.25% Jan 11 57.0 gross bid,3.20% repo offer,48.4 net
This material is for your private information, and we are not soliciting any
action based upon it. This report is not to be construed as an offer to sell
or the solicitation of an offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. Certain transactions,
including those involving futures, options, and high yield securities, give
rise to substantial risk and are not suitable for all investors. The
material is based upon information that we consider reliable, but we do not
represent that it is accurate or complete, and it should not be relied upon
as such. Opinions expressed are our current opinions as of the date
appearing on this material only. While we endeavor to update on a reasonable
basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so. We and our
affiliates, officers, directors, and employees, including persons involved
in the preparation or issuance of this material may, from time to time, have
long or short positions in, and buy or sell, the securities, or derivatives
(including options) thereof, of companies mentioned herein. No part of this
material may be (i) copied, photocopied or duplicated in any form by any
means or (ii) redistributed without Goldman, Sachs & Co.'s prior written
consent.
| ||
arora-h/deleted_items/124.
|
subject: Holiday Party - Canceled
content: I know that this is a difficult time for all of us. With everything going on inside the company as well as in the world around us, we have been carefully considering whether a holiday celebration is appropriate this year. To be honest, employee feedback has been mixed. Many viewed the holiday party as a unique opportunity for us to come together as Enron employees to share the spirit of the season. Others felt a holiday party would be improper given the company's current circumstances.
After weighing these points of view, we have ultimately decided to cancel the all-Enron holiday party that was scheduled for December 8. Given what has transpired over the past month, it could be considered imprudent for Enron to incur the expense of such an event. I regret that this action is necessary because I recognize that your hard work throughout the year merits a holiday celebration and so much more. We will attempt to find other, more appropriate ways to recognize your outstanding contributions as we move into the holiday season.
Ken Lay
|
All Enron Houston@ENRON <??SAll Enron Houston@ENRON>
|
|
arora-h/deleted_items/125.
|
subject: Enron In Action 11.19.01
content: Enron in Action can be accessed through the new Community Relations web site at http://cr.enron.com/eia.html . In this week's issue you will find out information regarding:
Enron Happenings
Sponsor a Child - Win a Ticket to Cirqie du Solei
Enron Volunteer Opportunities
Saint Nicholas Needs Your Help!
Nutcracker Volunteer Opportunity
Camp Noah - Daycamp for Children Recovering from Disaster
Thanksgiving Volunteer Opportunity
Enron Wellness
Holiday Fashion Show & Luncheon
Weight Watchers
In addition, Enron in Action is available through a channel on my.home.enron.com. To add this channel to your set-up click on the channels link at the top of the screen and under announcements check the Enron in Action box.
If you wish to add an announcement to Enron in Action, please fill out the attached form below and submit it to mailto:[email protected] no later than 12 PM Thursday each week.
|
All Enron Houston@ENRON <??SAll Enron Houston@ENRON>
|
|
arora-h/deleted_items/126.
|
subject: Weekend Outage Report for 11-16-01 through 11-18-01
content: ------------------------------------------------------------------------------------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
November 16, 2001 5:00pm through November 19, 2001 12:00am
------------------------------------------------------------------------------------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS:
Impact: 3AC
Time: Fri 11/16/2001 at 10:00:00 PM CT thru Sat 11/17/2001 at 12:00:00 AM CT
Fri 11/16/2001 at 8:00:00 PM PT thru Fri 11/16/2001 at 10:00:00 PM PT
Sat 11/17/2001 at 4:00:00 AM London thru Sat 11/17/2001 at 6:00:00 AM London
Outage: Swing 3AC 8th and 9th floors to CORP IP space.
Environments Impacted: 8th
Purpose: EBS Integration
Backout: re-issue original configurations, bring trunk to eb44 back up.
Contact(s): Micah Staggs 713-345-1696
Impact: Ardmore
Time: Sat 11/17/2001 at 10:30:00 PM CT thru Sun 11/18/2001 at 2:30:00 AM CT
Sat 11/17/2001 at 8:30:00 PM PT thru Sun 11/18/2001 at 12:30:00 AM PT
Sun 11/18/2001 at 4:30:00 AM London thru Sun 11/18/2001 at 8:30:00 AM London
Outage: Add redundant connections between ARD-COR-CCX1/2 and ENA-CX1/2-ARD
Environments Impacted: All
Purpose: Increased bandwidth / resiliency available on the MAN
Backout: Put original equipment/configs back in place
Contact(s): Dennis McGough 713-345-3143
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING:
Impact: Corp Notes
Time: Fri 11/16/2001 at 9:00:00 PM CT thru Sat 11/17/2001 at 1:00:00 AM CT
Fri 11/16/2001 at 7:00:00 PM PT thru Fri 11/16/2001 at 11:00:00 PM PT
Sat 11/17/2001 at 3:00:00 AM London thru Sat 11/17/2001 at 7:00:00 AM London
Outage: cNotes Server Reboots
Environments Impacted: All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval
Backout: Make sure server comes up.
Contact(s): Trey Rhodes (713) 345-7792
Impact: EI
Time: Fri 11/16/2001 at 9:00:00 PM CT thru Sat 11/17/2001 at 1:00:00 AM CT
Fri 11/16/2001 at 7:00:00 PM PT thru Fri 11/16/2001 at 11:00:00 PM PT
Sat 11/17/2001 at 3:00:00 AM London thru Sat 11/17/2001 at 7:00:00 AM London
Outage: EI Notes Server Maintenance
Environments Impacted: EI Local/Domestic/Foreign Sites
Purpose: Scheduled @ 2 week interval
Backout: N/A
Contact(s): David Ricafrente 713-646-7741
Impact: EES
Time: Fri 11/16/2001 at 8:30:00 PM CT thru Fri 11/16/2001 at 11:30:00 PM CT
Fri 11/16/2001 at 6:30:00 PM PT thru Fri 11/16/2001 at 9:30:00 PM PT
Sat 11/17/2001 at 2:30:00 AM London thru Sat 11/17/2001 at 5:30:00 AM London
Outage: EES Notes Server Reboots
Environments Impacted: All users on any of the mailservers listed below
Purpose: Scheduled @ 2 week interval on 1st and the 3rd Friday of each month.
Backout:
Contact(s): Dalak Malik 713-345-8219
MARKET DATA:
Impact: CORP
Time: Sat 11/17/2001 at 12:00:00 PM CT thru Sat 11/17/2001 at 12:30:00 PM CT
Sat 11/17/2001 at 10:00:00 AM PT thru Sat 11/17/2001 at 10:30:00 AM PT
Sat 11/17/2001 at 6:00:00 PM London thru Sat 11/17/2001 at 6:30:00 PM London
Outage: Autex - "taurus" system upgrade
Environments Impacted: Autex
Purpose: replace obsolesced hardware with Enron Standard hardware configuration for critical trading application
Backout: Replace with original system
Contact(s): John Sieckman 713-345-7862
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER SYSTEMS:
Impact: SAP
Time: Fri 11/16/2001 at 8:00:00 PM CT thru Mon 11/19/2001 at 2:00:00 AM CT
Fri 11/16/2001 at 6:00:00 PM PT thru Mon 11/19/2001 at 12:00:00 AM PT
Sat 11/17/2001 at 2:00:00 AM London thru Mon 11/19/2001 at 8:00:00 AM London
Outage: Add New SAP Storage
Environments Impacted: SAP
Purpose: Disk growth in SAP required procurement of additional disk.
Backout: Revert to current configuration.
Contact(s): Gary Sentiff 713-345-5125
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: No Scheduled Outages
TERMINAL SERVER: No Scheduled Outages.
UNIFY: No Scheduled Outages.
----------------------------------------------------------------------------------------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC (713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call (713) 327-6032 [Pager]
|
Houston Outage Report@ENRON <??SHouston Outage Report@ENRON>
|
|
arora-h/deleted_items/127.
|
subject: SUPPLEMENTAL Weekend Outage Report for 11-16-01 through 11-18-01
content: ------------------------------------------------------------------------------------------------------
W E E K E N D S Y S T E M S A V A I L A B I L I T Y
F O R
November 16, 2001 5:00pm through November 19, 2001 12:00am
------------------------------------------------------------------------------------------------------
SCHEDULED SYSTEM OUTAGES:
ARDMORE DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
AZURIX: No Scheduled Outages.
EB34 DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages.
EDI SERVER: No Scheduled Outages.
ENRON CENTER SOUTH DATA CENTER - FACILITY OPERATIONS: No Scheduled Outages
ENRON NORTH AMERICAN LANS: SEE ORIGINAL REPORT
FIELD SERVICES: No Scheduled Outages.
INTERNET: No Scheduled Outages.
MESSAGING: ALSO SEEE ORIGINAL REPORT
Impact: All Nahou Exchange server users
Time: Sat 11/17/2001 at 5:00:00 PM CT thru Sat 11/17/2001 at 9:00:00 PM CT
Sat 11/17/2001 at 3:00:00 PM PT thru Sat 11/17/2001 at 7:00:00 PM PT
Sat 11/17/2001 at 11:00:00 PM London thru Sun 11/18/2001 at 3:00:00 AM London
Outage: Exchange server standardization
Environments Impacted: All Exchange users
Purpose: Standardize all cluster nodes and bring up to current Microsoft standards.
Backout: Remove upgraded files.
Contact(s): Tim Hudson 713-853-9289
Impact: nahou-msdev01p nahou-msmbx01v
Time: Sat 11/17/2001 at 5:00:00 PM CT thru Sat 11/17/2001 at 9:00:00 PM CT
Sat 11/17/2001 at 3:00:00 PM PT thru Sat 11/17/2001 at 7:00:00 PM PT
Sat 11/17/2001 at 11:00:00 PM London thru Sun 11/18/2001 at 3:00:00 AM London
Outage: Database defragmentation
Environments Impacted: Exchange users on nahou-msdev01p nahou-msmbx01v Storage group 3 Database 4
Purpose: To reclaim un-used drive space within the Exchange database.
Backout: N A.
Contact(s): Tim Hudson 713-853-9289
MARKET DATA: SEE ORIGINAL REPORT
NT: No Scheduled Outages.
OS/2: No Scheduled Outages.
OTHER: ALSO SEE ORIGINAL REPORT
Impact: EFM Accounting
Time: Sat 11/17/2001 at 10:00:00 PM CT thru Sat 11/17/2001 at 11:00:00 PM CT
Sat 11/17/2001 at 8:00:00 PM PT thru Sat 11/17/2001 at 9:00:00 PM PT
Sun 11/18/2001 at 4:00:00 AM London thru Sun 11/18/2001 at 5:00:00 AM London
Outage: Swap names of NAHOU-SQEFM01P and NAHOU-SQLAC01P
Environments Impacted: EFM Accounting users
Purpose: Migration of production EFM Accounting MSSQL Server from 6.5 to 2000
Backout:
Contact(s): William Mallary
Bob McCrory (713) 853-5749
Michael Kogotkov (713) 345-1677
Impact: CORP
Time: Sat 11/17/2001 at 6:00:00 PM CT thru Sun 11/18/2001 at 9:00:00 AM CT
Sat 11/17/2001 at 4:00:00 PM PT thru Sun 11/18/2001 at 7:00:00 AM PT
Sun 11/18/2001 at 12:00:00 AM London thru Sun 11/18/2001 at 3:00:00 PM London
Outage: CPR
Environments Impacted: All
Purpose: Hardware maintenance for Skywalker
Backout:
Contact(s): CPR Support 713-284-4175
Impact: CORP
Time: Sat 11/17/2001 at 6:00:00 PM CT thru Sun 11/18/2001 at 6:00:00 AM CT
Sat 11/17/2001 at 4:00:00 PM PT thru Sun 11/18/2001 at 4:00:00 AM PT
Sun 11/18/2001 at 12:00:00 AM London thru Sun 11/18/2001 at 12:00:00 PM London
Outage: Test/Dev general server maintenance for the following:
ferrari, modena, trout, cypress, bravo
Environments Impacted: ENW test and development
Purpose: Established maintenance window for Test and Development
Backout: None
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 11/17/2001 at 6:00:00 PM CT thru Sun 11/18/2001 at 9:00:00 AM CT
Sat 11/17/2001 at 4:00:00 PM PT thru Sun 11/18/2001 at 7:00:00 AM PT
Sun 11/18/2001 at 12:00:00 AM London thru Sun 11/18/2001 at 3:00:00 PM London
Outage: New disk layout for server ERMS CPR server skywalker.
Environments Impacted: ERMS
Purpose: Move toward new standard disk layout.
Backout: If database doesn't work after restore to new layout we will roll back to the old mirrored copy and resync to that copy.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Sat 11/17/2001 at 6:00:00 PM CT thru Sun 11/18/2001 at 9:00:00 AM CT
Sat 11/17/2001 at 4:00:00 PM PT thru Sun 11/18/2001 at 7:00:00 AM PT
Sun 11/18/2001 at 12:00:00 AM London thru Sun 11/18/2001 at 3:00:00 PM London
Outage: General maintenance for ERMS CPR app server chewbacca.
Environments Impacted: ERMS CPR
Purpose: General maintenance and patching.
Backout: Backout patches and config changes and reboot to old configuration.
Contact(s): Malcolm Wells 713-345-3716
Impact: CORP
Time: Fri 11/16/2001 at 5:00:00 PM CT thru Sat 11/17/2001 at 2:00:00 PM CT
Fri 11/16/2001 at 3:00:00 PM PT thru Sat 11/17/2001 at 12:00:00 PM PT
Fri 11/16/2001 at 11:00:00 PM London thru Sat 11/17/2001 at 8:00:00 PM London
Outage: Update to new disk layout for server foxtrot.
Environments Impacted: ACTA production
Purpose: Move toward new standard in disk layout.
Backout: Restore old disk layout
restore data from disk.
Contact(s): Malcolm Wells 713-345-3716
Impact: ENPOWER
Time: Sat 11/17/2001 at 7:00:00 AM CT thru Sat 11/17/2001 at 12:00:00 PM CT
Sat 11/17/2001 at 5:00:00 AM PT thru Sat 11/17/2001 at 10:00:00 AM PT
Sat 11/17/2001 at 1:00:00 PM London thru Sat 11/17/2001 at 6:00:00 PM London
Outage: Build standby database on PWRPROD1
Environments Impacted: Enpower application User
Purpose: Improve system availability for Enpower Database
Backout: Drop the standby database.
Contact(s): Tantra Invedy 713 853 4304
Impact: EI
Time: Fri 11/16/2001 at 3:00:00 PM CT thru Fri 11/16/2001 at 6:00:00 PM CT
Fri 11/16/2001 at 1:00:00 PM PT thru Fri 11/16/2001 at 4:00:00 PM PT
Fri 11/16/2001 at 9:00:00 PM London thru Sat 11/17/2001 at 12:00:00 AM London
Outage: Decommission 3AC-17 server Room
Environments Impacted: El and Azurix
Purpose: Decommission 3AC-17 server Room
Backout: None, must be out and installed on the 35th floor of 3AC
Contact(s): Matthew James 713-345-8111
Jon Goebel 713-345-7570
Impact: CORP
Time: Sat 11/17/2001 at 1:00:00 PM CT thru Sat 11/17/2001 at 5:00:00 PM CT
Sat 11/17/2001 at 11:00:00 AM PT thru Sat 11/17/2001 at 3:00:00 PM PT
Sat 11/17/2001 at 7:00:00 PM London thru Sat 11/17/2001 at 11:00:00 PM London
Outage: Migrate VMS objects from Enpower test to production
Environments Impacted: Corp
Purpose: To allow production deployment of the VMS engine
Backout: None.
Contact(s): Charlene Fricker 713-345-3487
Impact: NAHOU-ORDB07P
Time: Sat 11/17/2001 at 9:00:00 AM thru Sat 11/17/2001 at 11:00:00 AM
Outage: NAHOU-ORDB07P Drive Failure.
Environments Impacted: Corp trying to access dbases on the server.
Purpose: To replace a bad hard drive.
Backout: Restore from tape and backed up DB.
Contact(s): David Devoll 713-345-8970
SITARA: No Scheduled Outages.
SUN/OSS SYSTEM: No Scheduled Outages.
TELEPHONY: No Scheduled Outages
TERMINAL SERVER: No Scheduled Outages.
UNIFY: No Scheduled Outages.
----------------------------------------------------------------------------------------------------------------------------
FOR ASSISTANCE
(713) 853-1411 Enron Resolution Center
Specific Help:
Information Risk Management (713) 853-5536
SAP/ISC (713) 345-4727
Unify On-Call (713) 284-3757 [Pager]
Sitara On-Call (713) 288-0101 [Pager]
RUS/GOPS/GeoTools/APRS (713) 639-9726 [Pager]
OSS/UA4/TARP (713) 285-3165 [Pager]
CPR (713) 284-4175 [Pager]
EDI Support (713) 327-3893 [Pager]
EES Help Desk (713)853-9797 OR (888)853-9797
TDS -Trader Decision Support On-Call (713) 327-6032 [Pager]
|
Houston Outage Report@ENRON <??SHouston Outage Report@ENRON>
|
|
arora-h/deleted_items/128.
|
subject: Your Approval is Overdue: Access Request for [email protected]
content: This request has been pending your approval for 114 days. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.
Request ID : 000000000041547
Request Create Date : 6/19/01 7:50:30 AM
Requested For : [email protected]
Resource Name : \\nahoutrd\houston\pwr\common\power2\Region - [Read]
Resource Type : Directory
| ||
arora-h/deleted_items/129.
|
subject: Your Approval is Overdue: Access Request for [email protected]
content: This request has been pending your approval for 114 days. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.
Request ID : 000000000041547
Request Create Date : 6/19/01 7:50:30 AM
Requested For : [email protected]
Resource Name : \\nahoutrd\houston\pwr\common\Electric - [Read]
Resource Type : Directory
| ||
arora-h/deleted_items/13.
|
subject: Hedge Fund & Family Office Software e.BRIEFING, Special Issue
content: If you cannot view the SS&C logo below, your email software does not accept
the HTML format. To view this message in HTML, visit this Web page:
http://www.ssctech.com/e-news/HFFO/hedge_e.briefing_1221.html
<http://www.ssctech.com/e-news/HFFO/hedge_e.briefing_1221.html>
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Total Reconciliation: v4.2
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available
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December 21, 2001, Special Issue Prefer text version? Reply here
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From all of us at SS&C, we wish you and your family a safe, healthy and
happy holiday season, and a prosperous New Year.
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arora-h/deleted_items/130.
|
subject: Bear Island Opportunity
content: As mentioned earlier, we have the opportunity to sell a 76MW, 7x24, fixed for floating financial swap to these guys for 5 years beginning 1/1/02. They want offers from both the PJM-East and PJM-West Hubs. In an effort to lower the fixed price, they are willing to sell let us curtail during Monday-Friday for the term of the deal on an hour-ahead basis. There can be a variety of call option structures, depending upon which gives them the largest premium (options being number of hours which we can curtail each day). Nick has begun working on valuing an at the money, 5x8 call (effectively an 8-hour curtailment), with hour-ahead notice. Rob Benson is pricing the swap. As soon as we get the swap price (and the resulting strike price for the call), Nick can firm up his initial valuation and we can discuss with you.
Billy Braddock
Manager - Enron Power Marketing Inc.
713-345-7877 (work)
713-646-4940 (fax)
713-503-2166 (cell)
| ||
arora-h/deleted_items/131.
|
subject:
content: Any chance you'll have something for me today?
| ||
arora-h/deleted_items/132.
|
subject:
content: Harry:
Are you still alive?
| ||
arora-h/deleted_items/133.
|
subject: PIRA's Current News & Analysis
content: Dear PIRA Client:
The following Current News & Analysis articles have been published on
PIRA's website:
1) OPEC Set To Cut 1+ MMB/D With Likely Dec. 1 Start Date
2) Speculative Short Selling Hammers Crude Oil Prices, But For How Long?
Please go to http://www.pira.com
These articles can be found in the client section of PIRA's website. You
will need a PIRA Online account in order to gain access. For account
information please contact Dyana Rothman, [email protected]
Best regards,
PIRA Energy
| ||
arora-h/deleted_items/134.
|
subject: Will the Recession be Short?*
content: Over the past few weeks we have struggled to find an appropriate parallel
to the economic situation in the aftermath of September 11. In a recent
paper we argued that the appropriate parallel for the post 9/11 was the
Gulf War. In both cases the incident punctuated what we already knew: that
the economy was in recession. We also pointed out some interesting
similarities. In both cases, Alan Greenspan was chairman of the Fed and
George Bush was president. However, there are some major differences this
time. The George Bush in the White House now is proposing to lower tax
rates. For that reason we believe that the recovery is going to be stronger
than that of the previous recession. More on this subject anon.
LJE
www.lajollaeconomics.com
La Jolla Economics
7608 La Jolla Blvd.,
La Jolla, CA 92037-4702
Telephone (858) 456-4567
Facsimile (858) 456-4524
| ||
arora-h/deleted_items/135.
|
subject: zPro Offer extended past Thanksgiving
content: Dear Harry,
I recently sent an announcement regarding our zPro Special Offer ( code TL1ED ). Because so many people are making special efforts to be with family this Thanksgiving in particular, we're extending the time period for the special zPro offer until November 28.
In case you haven't already signed up, I encourage you to check out zPro's features at
http://newslink.zoomerang.com/ss?click&zoom-clicks&3be9cec4
Call 877-771-7758 by November 28 and mention promo code TL1ED or email us at mailto:[email protected]?subject=TL1ED to take advantage of the extended time period for this special zPro offer.
More than 25% of Fortune 500 companies use zPro for sending surveys and collecting results, because of features like
- Personalizing and branding your surveys by uploading images
- Downloading results into spreadsheet format
- Cross tabulating and comparing responses from one question to another
- Creating longer surveys
- Unlimited data storage
You now have until November 28 to call 877-771-7758 or email us at mailto:[email protected]?subject=TL1ED to take advantage of this special offer.
Sincerely,
Dana Meade, Director of Product Management
Zoomerang
http://newslink.zoomerang.com/ss?click&zoom-clicks&3b587055
--------------------------------------------------------------------
This message was sent to Harry Arora, a registered Zoomerang member that agreed to receive email notifications at [email protected]. If you have received this email in error or do not wish to receive email updates from MarketTools regarding new products or promotions, please click on http://www.zoomerang.com/setflags.zgi?ERBYV8Q35A97.
Thanks for being a Zoomerang Member!
| ||
arora-h/deleted_items/136.
|
subject: OnePass Member continental.com Specials for harry arora
content: continental.com Specials for harry arora
Tuesday, November 20, 2001
****************************************
CONTINENTAL.COM SPECIALS
Continental Airlines wishes you a safe and Happy Thanksgiving. Due to the holiday, continental.com Specials will not be available this week.
OnePass members can register to earn up to 20,000 OnePass miles by purchasing your eTickets on continental.com - and that?s in addition to your actual flight miles. Visit:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%2FA
for all the details and to purchase your eTickets today.
(Note: this offer does not apply to continental.com Specials fares.)
FRIENDS & FAMILY SALE
Continental makes it easy to get together with friends & family. Whether you're planning a quick visit or a holiday reunion, continental.com saves you time and money. We're offering 10% off select sale fares in North America & Europe when you book online through December 4, 2001.
Visit:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9-A
to purchase your eTickets today.
Travel Updates
Be sure to check continental.com at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%2CA
before leaving for the airport. We're looking forward to welcoming you onboard!
---------------------------------------
This e-mail message and its contents are copyrighted and are proprietary products of Continental Airlines, Inc. Any unauthorized use, reproduction, or transfer of the message or its content, in any medium, is strictly prohibited.
****************************************
If you need assistance please visit:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%28A
View our privacy policy at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%2BA
This e-mail was sent to: [email protected]
You registered with OnePass Number: AP628496
TO UNSUBSCRIBE:
We hope you will find continental.com Specials a valuable source of information. However, if you prefer not to take advantage of this opportunity, please let us know by visiting the continental.com Specials page on our web site at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%29A
TO SUBSCRIBE:
Please visit the continental.com Specials page on our web site at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C-9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9*A
| ||
arora-h/deleted_items/137.
|
subject: Program Changes
content: As you know, this is an unprecedented time in Enron's history. We must adapt our employee programs to fit the immediate needs of our company during this time of transition. It is especially difficult to announce the immediate suspension of the following programs.
? ClickAtHome - Enron has suspended the ClickAtHome program. The program will no longer accept new participants, PC orders, or Internet service orders. Orders submitted and confirmed prior to November 20, 2001 will be honored. Enron will also discontinue subsidized Internet service. Effective January 1, 2002, employees who are currently subscribers to subsidized Internet service will be switched to the regular commercial rate of their service provider and be responsible for the entire cost of the service.
? Matching Gifts and Volunteer Incentive Program (VIP) - Enron's Matching Gift program and VIP grants have been suspended indefinitely. As we consider the immediate needs of all employees during this trying time, it is appropriate that we discontinue the dollar for dollar match for charitable contributions as well as cash donations recognizing employees' volunteer hours with non-profit organizations. Matching Gift or VIP submissions received prior to November 20 will be honored.
We regret that we have had to make these changes. We must continue to look for ways to reduce operating expenses through this transition period.
|
All Enron Employees United States Group@ENRON <??SAll Enron Employees United States Group@ENRON>
|
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arora-h/deleted_items/138.
|
subject: MBA Outlook from The Economist Global Executive
content: <html>
<head>
<!-- change: fixed title tag -->
<title>Special Report: MBA Outlook from The Economist Global Executive</title>
<meta http-equiv="Content-Type" content="text/html; charset=iso-8859-1">
</head>
<body bgcolor="#ffffff" text="#000000" link="#990000" alink="#CC0000" vlink="#660000">
<table width="600" border="0" cellspacing="0" cellpadding="0">
<tr>
<td rowspan="2" width="125"><a href="http://TheEconomist.s.maildart.net/link_34078_6617738_2_79987158_60345293_1_6f"><img alt="" src="http://www.economist.com/images/ecdc_125x34.gif" width="125" height="34" border="0"></a></td>
<td rowspan="2" width="15"><img alt="" src="http://www.economist.com/images/blocks/spacer.gif" width="15" height="1"></td>
<td width="460"><img alt="" src="http://www.economist.com/images/blocks/spacer.gif" width="460" height="1"></td>
</tr>
<tr>
<td><a href="http://TheEconomist.s.maildart.net/link_34011_6617738_2_79987158_60345293_1_62"><img src="http://www.economist.com/images/globalexecutive/headergeem.gif" border="0" alt="Global Executive, a joint project with Whitehead Mann" width="329" height="34"></a><a href="http://TheEconomist.s.maildart.net/link_34010_6617738_2_79987158_60345293_1_61"><img src="http://www.economist.com/images/globalexecutive/headerwmem.gif" border="0" alt="Visit the Whitehead Mann Site" width="131" height="34"></a></td>
</tr>
</table>
<table width="600" border="0" cellspacing="0" cellpadding="0">
<tr>
<td valign="top" width="1" bgcolor="#999999" rowspan="8"><img src="http://www.economist.com/images/blocks/spacer.gif" width="1"></td>
<td colspan="6" bgcolor="#999999"><img src="http://www.economist.com/images/blocks/spacer.gif" alt="" width="599" height="1" align="top"></td>
</tr>
<tr>
<td valign="top" width="8"><img src="http://www.economist.com/images/blocks/spacer.gif" width="8"></td>
<!-- change: extra br between From and Subject -->
<td valign="top" colspan="5" width="591"><br><font face="Verdana, Geneva, Arial, sans-serif" size="-1"><b>From:</b> Andrew Rashbass, Managing Director, Economist.com<br><br>
<b>Subject:</b> Special Report: <a href="http://TheEconomist.s.maildart.net/link_34012_6617738_2_79987158_60345293_1_63">MBA Outlook</a> from The Economist Global Executive</font><br><br></td>
</tr>
<tr>
<td colspan="6" bgcolor="#999999"><img src="http://www.economist.com/images/blocks/spacer.gif" alt="" width="599" height="1" align="top"></td>
</tr>
<tr>
<td valign="top" width="8"><img src="http://www.economist.com/images/blocks/spacer.gif" width="8"></td>
<td valign="top" width="400"><br>
<font face="Verdana, Geneva, Arial, sans-serif" size="-1">Dear Economist.com
reader<br>
<br>
Until recently, MBA graduates commanded huge starting packages as companies
vied to recruit them. In the current economic environment, their prospects
have changed dramatically. With extensive layoffs at dotcoms and with other
companies cutting back in the face of falling sales and profits, many graduates
of MBA programmes have found themselves struggling to find jobs. <br>
<br>
A new report, <a href="http://TheEconomist.s.maildart.net/link_34013_6617738_2_79987158_60345293_1_64">MBA Outlook</a>, from The Economist Global Executive looks at the prospects
for MBAs today. It provides insight into whether now is the time to take
an MBA and it advises on how to position yourself for the job market if
you already have or are studying for your MBA. <br>
<br>
This special report includes:<br>
<ul>
<li>The MBA, changing and static: What does business education offer in
the face of an economic downturn?
<li>Back to business school: A gamble that more people want to take <!-- change: editorial fix -->
<li>An interview with Henry Mintzberg: What's wrong with business education
today?
<li>Whitehead Mann's advice on how to use your MBA to get a job in investment
banking
<li>The MBA in Europe: How European programmes are seeking to distinguish
themselves
<li>The dropouts return: CFO Magazine reports on the former dotcom hopefuls
who are now finishing their studies
<li>How a leading business school is coping with the economic downturn
<li>How distance learning is making the MBA world smaller
</ul>MBA Outlook is sponsored by a number of <a href="http://TheEconomist.s.maildart.net/link_34014_6617738_2_79987158_60345293_1_65">business schools</a>. They have provided comprehensive intelligence on their programmes
giving you the information you need to make an informed choice. They tell
you what, in their view, sets them apart, what courses they offer and what
makes a successful applicant to their school. They advise applicants from
outside the US and provide important statistics on their programmes as well
as details of their career services and their alumni. Find these profiles
here.<br>
<br>
In an uncertain economy, find out what rewards—and risks—come
from pursuing an MBA degree. Research the effect of the downturn on MBA
programmes and graduates. Learn what MBAs can do to position themselves
best. Read
<a href="http://TheEconomist.s.maildart.net/link_34016_6617738_2_79987158_60345293_1_67">MBA Outlook</a>
from The Economist Global Executive today.<br>
<br>
As always, we welcome your comments and suggestions. Please e-mail us <a href="mailto:[email protected]">here</a>.
<br>
<br>
Yours sincerely<br>
<br>
Andrew Rashbass<br>
Managing Director, Economist.com<br>
<br>
<br>
P.S. Please feel free to pass this message on to your friends and colleagues.<br>
</font><br>
<img src="http://www.economist.com/images/blocks/spacer.gif" width="400" height="1"><br>
</td>
<td valign="top" width="8"><img src="http://www.economist.com/images/blocks/spacer.gif" width="8"></td>
<td valign="top" bgcolor="#999999" width="1" rowspan="3"><img src="http://www.economist.com/images/blocks/spacer.gif" width="1"></td>
<td valign="top" width="8" rowspan="3"><img src="http://www.economist.com/images/blocks/spacer.gif" width="8"></td>
<td valign="top" width="175" rowspan="3"><br><table cellspacing="0" border="0" cellpadding="0" width="175">
<tr>
<td><img src="http://www.economist.com/images/globalexecutive/reportsponsoredby175.gif" alt="" width="175" height="23" align="top" border="0"><br>
</td>
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arora-h/deleted_items/139.
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subject: PIRA's Current News & Analysis
content: Dear PIRA Client:
The following Current News & Analysis articles have been published on
PIRA's website:
1) Will Russia Join In Non-OPEC Cooperation?
2) FSU Seaborne Exports
3) November Weather: Europe/Japan Cold, US Mild
Please go to http://www.pira.com
These articles can be found in the client section of PIRA's website. For
account information or to gain access please contact Dyana Rothman at
[email protected]
Best regards,
PIRA Energy Group
| ||
arora-h/deleted_items/14.
|
subject: December 22, 2001 - Santa Claus rally and tapping your resources
content: Our gifts to you this week: Several reports that offer insight into the
current market rally. Other topics of discussion include: a way to tap
your life insurance benefit if you're terminally ill, and how to combine
your retirement accounts the right way.
Charles Payne, principal analyst of Wall Street Strategies, explains why
he remains upbeat on stocks despite the lack of a potent Santa Claus
rally, and lifts his glass to the prospect of seeing Osama bin Laden's
head on a platter.
Also, equity research columnist Carla Drysdale explains the future
potential of a new Web-based technology that might have venture
capitalists drooling.
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- Investment ideas
- Personal finance
- Special reports
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Investment ideas
-----------------------------------------
1. INVESTMENT IDEAS
Watch out for Web services
Venture capitalists count the many ways of metaware
By Carla Drysdale, columnist
As technology and the information age continues to both enrich and
complicate our lives, chief information officers are becoming more
excited about an emerging field that promises to smooth out some of the
operational kinks. Web services, or what is sometimes called
"metaware," may well describe the offering of many companies that
attract venture financing next year.
The next stage in the evolution of software, the solution would allow
companies to transfer business functions to the Internet, and off
proprietary networks and hardware systems.
The technology would allow a company to send updates to software
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sending it across an entire system.
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=5375&nd=1222
2. INVESTMENT IDEAS
Heads up!
While a Santa Claus rally did not materialize, it's worth
paying attention as we head into a brave new year
By Charles Payne, principal analyst, Wall Street Strategies
The market, especially technology stocks, had been priced for perfection,
but the utopian world that investors hoped for is still a work in progress.
That point was driven home via bad news from Juniper (JNPR),
Solectron (SLR) and Jabil (JBL), to go along with a series of
disappointments during the previous week.
Economic data that came down the pike during the week also painted a
picture of slow recovery at best. Yet there are reasons for investors to
feel optimistic while knocking back the eggnog (no doubt spiked a little
heavier than usual) this Christmas Day. Last week the initial jobless
claims came in lower than the previous week, stretching this trend to
three weeks. Now, the four-week average is 438,000, not below the
pivotal 400,000 but significantly lower than the 508,000 posted just a
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http://www.multexinvestor.com/article.asp?docid=5422&nd=1222
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many singing "Bull Market." This report offers technical charts,
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Online advice and chats
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1. ASK THE ANALYST
Garzarelli Capital's Elaine Garzarelli explains her short-term view of the
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Citing growing bullish sentiment from the investment advisor
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American Century's James Bell discusses some mutual fund tax-planning
strategies worth considering.
Bell identifies several tax-related tips that mutual fund investors will
want to give some thought to as the end of the year rapidly approaches.
How can you minimize your tax obligations? Pose him your questions
until Thurs., Dec. 27. Ask the expert.
http://www.multexinvestor.com/AskTheExpertForm.asp?&nd=1222
Free and sponsored reports
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1. DAILY FREE SPONSOR REPORT
Morgan Stanley rates Capital Trust (CT) an "outperform."
Capital Trust is an investment company that invests in real estate loans
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2. FREE REPORTS LIST
Get the goods gratis: Catch up on the week's giveaway research reports.
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and The Telecomm Analyst by Multex.com. The newsletters will
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ideas, experts, and info about the Internet and telecommunications
sectors. To see this week's issue,
click here:
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http://www.theinternetanalyst.com/
| ||
arora-h/deleted_items/140.
|
subject: PIRA's API Weekly Comment 11/20/01
content: Because of computer glitch the API data summary table is incorrect. We will
forward a new table shortly.
PIRA Energy Group
| ||
arora-h/deleted_items/141.
|
subject: PIRA's Current News & Analysis
content: Dear PIRA Client:
The following Current News & Analysis article has been published on
PIRA's website:
1. A Free Market Solution To New Car And Light Truck MPG In The United
States
Please go to http://www.pira.com
You will need a PIRA Online account in order to gain access. For account
information please contact Dyana Rothman, [email protected]
Best regards,
PIRA Energy
| ||
arora-h/deleted_items/142.
|
subject: GREETINGS
content: My dear Rajan,
Sat Sri Akal. We are pleased to send you our best wishes for Diwali. May
God brings shining lights for you and Your fiancee in this new year and show
you ever shining paths in the year which is beginnning to-day . May Almighty
bestows on you very long ,happy and very cheerful life which is full of new
excitments and fulfil your desires and you achieve aims of your life. Our
blessings to you for the high ideals you have always cherished.
Please keep us informed about the latest developments if any.
With lot of love from us.
Yours ever,
JAGJIT SINGH & GIAN KAUR
| ||
arora-h/deleted_items/143.
|
subject: FW: Options Sessions begin today
content: Hey, no wriggling out of it!
=20
:)
=20
You're the teacher - what's with this delegation to others?
=20
Dave
-----Original Message-----
From: Forster, Avril=20
Sent: Monday, November 19, 2001 10:37 AM
To: Forster, David
Subject: FW: Options Sessions begin today
=20
-----Original Message-----=20
From: Mack, Iris=20
Sent: Mon 19/11/2001 07:42=20
To: Chen, Hai; Arora, Harry; Gualy, Jaime; Wang, Steve; Stalford, Robert=20
Cc: Forster, Avril; Presto, Kevin M.; Shoemake, Lisa; Sturm, Fletcher J.; B=
lack, Tamara Jae=20
Subject: FW: Options Sessions begin today
Hi,=20
FYI, the options sessions for the originators begin today.=20
The location for the first session is ECS05990.=20
Once we get past the basics of options, then the plan is to focus o=
n more advanced topics - exotic options, load following, cross-commodity st=
ructures, etc.
Perhaps during these more advanced sessions some of you guys would =
like to make presentations.=20
Thanks,=20
Iris=20
-----Original Message-----=20
From: Forster, David =20
Sent: Tuesday, October 30, 2001 10:01 AM=20
To: Mack, Iris=20
Subject: RE: Options Session=20
There seems to be quite a bit of interest. You might have a pretty full hou=
se.=20
Dave=20
-----Original Message-----=20
From: Mack, Iris =20
Sent: Tuesday, October 30, 2001 9:34 AM=20
To: Forster, David=20
Subject: RE: Options Session=20
Thanks Dave.=20
Iris=20
-----Original Message-----=20
From: Forster, David =20
Sent: Tuesday, October 30, 2001 9:32 AM=20
To: Jacoby, Ben; Tapscott, Ron; Dypiangco, Mark; Churbock, Scott; Booth=
, Chris; Mitro, Fred; Grube, Raimund; Gimble, Mathew; Krause, Greg; Kellerm=
eyer, Dave; Hausinger, Sharon; Leigh, Lorie; Carnahan, Kathleen; Inman, Zac=
hary; Zarsky, Lisa; Dalton III, Oscar; Valderrama, Larry; Ratliff, Beau; Ca=
rroll, Lex; Clynes, Terri; Sewell, Doug; Llodra, John; Olvera, Paulita; Woo=
d, George; Wheeler, Rob; Politis, Nick; Irani, Eric; Letzerich, Palmer; Sel=
l, Maximilian; Luong, Steven; Kroll, Heather; Fairley, David; Rorschach, Re=
agan; Braddock, Billy; Acevedo, Rudy; Jafry, Rahil; Piazze, Tara; Marshall,=
Howard; Emmons, Suzette; Day, Amanda; Curry, Mike; Jester, Larry; Martinez=
, Judy; Benke, Terrell; Duffy, Matthew; Meyn, Jim; Reyes, Pauline; Herrera,=
Fernando; Hamlin, Mason; Lewis, Barry; Trefz, Greg; Cavazos, Brandon; Hiem=
stra, Nick; Roberts, Chaun; Compean, Karla; Seksaria, Rahul; Ward, Charles;=
Hill, Garrick; Anderson, Eric; Dickson, Andrew; Landry, Chad; Mccracken, G=
reg; Marks, David; Munoz, Victor; Kiani-Aslani, John; Robinson, Mitch; Moor=
e, John; Ahmed, Naveed; Marks, James; Murray, Kevin; Golden, Bruce; Vetters=
, Charles; Lang, John; Tricoli, Carl; Parks, Michelle
Cc: Mack, Iris=20
Subject: FW: Options Session=20
Due to various scheduling conflicts, this session has been moved to Monday,=
Nov. 12. The time and location are the same (1:00-2:00 in 5C2).
Dave=20
-----Original Message-----=20
From: Forster, David =20
Sent: Monday, October 29, 2001 6:08 PM=20
To: Jacoby, Ben; Tapscott, Ron; Dypiangco, Mark; Churbock, Scott; Booth=
, Chris; Mitro, Fred; Grube, Raimund; Gimble, Mathew; Krause, Greg; Kellerm=
eyer, Dave; Hausinger, Sharon; Leigh, Lorie; Carnahan, Kathleen; Inman, Zac=
hary; Zarsky, Lisa; Dalton III, Oscar; Valderrama, Larry; Ratliff, Beau; Ca=
rroll, Lex; Clynes, Terri; Sewell, Doug; Llodra, John; Olvera, Paulita; Woo=
d, George; Wheeler, Rob; Politis, Nick; Irani, Eric; Letzerich, Palmer; Sel=
l, Maximilian; Luong, Steven; Kroll, Heather; Fairley, David; Rorschach, Re=
agan; Braddock, Billy; Acevedo, Rudy; Jafry, Rahil; Piazze, Tara; Marshall,=
Howard; Emmons, Suzette; Day, Amanda; Curry, Mike; Jester, Larry; Martinez=
, Judy; Benke, Terrell; Duffy, Matthew; Meyn, Jim; Reyes, Pauline; Herrera,=
Fernando; Hamlin, Mason; Lewis, Barry; Trefz, Greg; Cavazos, Brandon; Hiem=
stra, Nick; Roberts, Chaun; Compean, Karla; Seksaria, Rahul; Ward, Charles;=
Hill, Garrick; Anderson, Eric; Dickson, Andrew; Landry, Chad; Mccracken, G=
reg; Marks, David; Munoz, Victor; Kiani-Aslani, John; Robinson, Mitch; Moor=
e, John; Ahmed, Naveed; Marks, James; Murray, Kevin; Golden, Bruce; Vetters=
, Charles; Lang, John; Tricoli, Carl; Parks, Michelle
Subject: Options Session=20
Iris Mack will be presenting a one-hour session on Monday, Nov. 5 from 1:00=
- 2:00 in 5C2, on "Introduction to Options".
This session will cover basic options terms and principles. If there is int=
erest, follow-up sessions will be scheduled which will proceed to greater d=
etail and complexity.
The session is aimed at Power Originators and Midmarketers and is open to a=
ll recipients of this email.=20
Dave
| ||
arora-h/deleted_items/144.
|
subject: Your Amazon.com order (#002-4083380-7905653)
content: Hello from Amazon.com.
We are sorry to report that we will not be able to obtain the following
item from your order:
Masami Saionji "The Golden Key to Happiness : Words of
Guidance and Wisdom"
Though we had expected to be able to send this item to you, we've
since found that it is not available from any of our sources at this
time. We realize this is disappointing news to hear, and we apologize
for any inconvenience we have caused you.
We must also apologize for the length of time it has taken us to reach
this conclusion. Until recently, we had still hoped to obtain this
item for you.
You may wish to try searching for this item on Amazon.com Auctions
(http://auctions.amazon.com) and zShops (http://www.amazon.com/zshops).
Our sellers list thousands of items for sale every day, and it's possible
that someone may be selling the item you're seeking.
We have cancelled this item from your order.
Your credit card will NOT BE CHARGED for this item because you only
pay for items when we ship them to you.
Please know that we expend significant effort to keep abreast of
prices and availabilities. Once again, we are very sorry for any
inconvenience this may have caused you.
Your order is now closed.
Thanks for shopping at Amazon.com, and we hope to see you again!
Sincerely,
Customer Service Department
Amazon.com
http://www.amazon.com
Earth's Biggest Selection
| ||
arora-h/deleted_items/145.
|
subject: UBSW: German inflation falls more strongly than expected
content: *** PDF version incl. charts is attached ***
German inflation falls more strongly than expected
Nov 01 Actual UBSW fc Market Previous
CPI - mom% -0.2 0.0 0.0 -0.3
CPI ? yoy% 1.7 1.9 1.9 2.0
n German CPI inflation dropped from 2.0% in October to 1.7% in the
month to mid-November. Thi swas 0.2%pts lower than expected. The
outcome is a consequence of sharply falling energy and food prices.
Core inflation will have remained unchanged. Pipeline inflation
indicators released yesterday underpinned the favourable trend.
n In the absence of further oil price decline, inflation is likely to
rise slightly next month. Further significant declines are expected
from February 2002, taking German inflation below 1% by the middle of
the year. If this is only partly mirrored in other euro area economies,
the ECB will have leeway to cut rates further next year as we expect.
Food and energy prices were the main forces behind the inflation
decline in November. From the state data, we estimate that food price
inflation will have fallen from 6.6% to about 5.5% yoy. Household
energy prices dropped by about 1.6% mom reflecting a substantial
heating oil price decline and petrol prices fell between 0.8% and 3.4%
in the reporting states. Core inflation will barely have changed from
last month?s 1.8%.
The favourable German inflation picture was preceded by much larger
than expected declines in October produce r and import prices reported
yesterday. Altogether, the data of the last two days underpin our
forecast that both headline and core inflation will fall substantially
next year. Hence, our forecast of further ECB easing in 2002 Q1 remains
firmly in place.
_______________________________________________
Holger Fahrinkrug
Senior Economist
UBS Warburg AG
Stephanstra?e 14-16, D-60313 Frankfurt, Germany
Tel. +49 69 1369 8280
Fax +49 69 1369 8221
Email: [email protected]
Visit our website at http://www.ubswarburg.com
This message contains confidential information and is intended only
for the individual named. If you are not the named addressee you
should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately by e-mail if you have received this
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related financial instruments.
| ||
arora-h/deleted_items/146.
|
subject: French GDP, the last good news before the fall?
content: French GDP, the last good news before the fall?
GDP (Q3)
Actual: +0.5%qoq, +2.0%yoy
UBS Warburg: +0.3%qoq, +1.8%yoy
Consensus: +0.3%qoq, +1.8%yoy
Previous: +0.2%qoq, +2.2%yoy
French GDP is clearly a good surprise. However it owes much to one off
effects from tax cuts which boosted consumption. The other elements of the
GDP have remained quite weak. If consumption falters next quarter (as we
expect) GDP growth could end up being much lower. Hence we remain very
cautious on the medium term.
French GDP accelerated in Q3 at +0.5% qoq. Part of this good news is
however due to the fact that Q2 was revised down (+0.2%qoq instead of
+0.3%).
* Household consumption is the reason for the good number, it was up 1.2%
qoq (after +0.3% in Q2) and contributed to 0.7% to GDP growth. This good
performance is essentially the result of one off tax cuts, notably the
employment premium paid at the beginning of September. These effects should
vanish away in Q4 and the preliminary information available for October
retail sales indeed support this view.
* Other elements of final domestic demand are much more modest. Investment
remained virtually flat with a mere +0.1% qoq increase. We expected a
contraction hence the resilience of investment is a small positive for us.
However, investment should remain in the doldrums as long as
industrialists' prospects are as low as currently.
* Stocks contributed negatively (-0.4% qoq) to growth. This is not really a
surprise given the surge in consumption. But this is a positive element for
next quarter, stocks are likely to be back up.
* Both exports and imports plummeted again reflecting the deterioration of
international trade. Exports were down 1.5% qoq (like in Q2) while imports
fell 1.5% qoq as well (after -1.0% in Q2). Overall, the contribution from
net trade was thus flat, in line with our expectations. But this could go
into negative territory as foreign demand will continue to weaken.
St?phane D?o
Economic Research
UBS Warburg
Tel : +33 1 48 88 30 36
Fax : +33 1 47 63 48 08
Mob : +33 6 76 85 33 18
[email protected]
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arora-h/deleted_items/148.
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subject: Thailand: The Long Road Towards Recovery
content: * After recording 1.9% GDP growth during 1H2001, the Thai economy is heading
into a recession despite 1.9%-point of GDP of government stimulus measures
slated for FY2001 and FY2002 in each fiscal year.
* The growth slowdown will lead to a further deepening of Thailand's
negative output gap. As domestic and corporate debt levels have not been
whittled down to any great extent since the Asian crisis, risks remain for
the economy to suffer from a deflationary debt overhang. Rising debt levels,
thereby, provide less leeway for the government to provide further stimulus
in the years ahead.
* Inadequate NPL restructuring and falling capacity utilisation rates also
point to a poor reallocation of production capacity since the Asian crisis
and low future recovery values on NPLs. This should keep bank profitability
and capital bases under pressure besides adding to government debt-GDP
ratio's medium term.
* Although the new TAMC will speed up the restructuring of NPLs, the TAMC
will not spur any major pick-up in bank lending or reduction in private bank
NPLs if there is a continued absence of creditor-friendly bankruptcy and
collateral foreclosure laws. Moreover, given the high levels of (quasi-)
NPLs among private banks, TAMC may have to provide additional public
subsidies to the private banks with a further nationalisation of private
sector debt a worst case outcome.
* Against this backdrop, we believe that Thailand should move towards a
neutral fiscal/looser monetary policy mix with the 14-day repo rate cut by
100bp to zero in real terms.
* Thailand's balance of payments would also benefit from a weaker THB as
this would help stem the decline in its current account surplus, while
attracting even more FDI inflows. In this respect, a floating exchange rate
would prevent a too large erosion of FX reserves due to continued heavy
foreign debt repayments.
* The public sector, for instance, is set to repay USD10.2bn in IMF loans
over the next two years. Given current tight spread levels, we believe that
the new supply will lead to a repricing of the sovereign curve. A tighter
fiscal policy stance will, on the other hand, lead to a flattening of the
local yield curve, which provides one of the most attractive roll-down
opportunities within the Asian region.
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arora-h/deleted_items/149.
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subject: November 26, 2001 - Angels in the morning
content: Features: angels find investment opportunities abound and mobile
wireless operators explore the Internet. Broker reports: independent
Wall Street guru Charles Payne explains why the Street will rally on,
21st century energy considerations, and more.
Don't forget: you can see the most queried tickers, best selling
reports, and hot sectors by clicking here:
http://www.multexinvestor.com/cs_hot.asp?target=%2Fstocks%2Fcompanyinformation%2Fanalystresearch%2Fwhatshot
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Below
--------
- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports
Investment ideas
-----------------------------------------
1. INVESTMENT IDEAS
Mobile phone makers eye wireless Internet opportunity
Companies look past current troubles toward growing the mobile data market
by John Filar Atwood, equity research columnist
Worsening economic conditions have caused a major strategic shift in the mobile
handset industry. The segments top companies have begun to de-emphasize phone
sales and are eyeing the wireless Internet as a key driver of future revenues.
Its no surprise given recent industry performance. Third quarter handset shipments
were down by 10% over last year. Motorolas (MOT) sales fell by 22% in the quarter,
and Ericssons (ERICY) phone operations have been so damaging to its bottom line
that the company finally moved them into a joint venture with Sony (SNE).
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=4447&nd=1126
2. INVESTMENT IDEAS
Angelic missions rising
As VC funding slows, angel investors find new wings.
By Carla Drysdale
As the country struggles to its feet after the crash of the new economy,
exacerbated by the Sept. 11th attacks on the WTC, angel investors have
been doing their part to help by continuing to provide seed money to startups.
Angels, entrepreneurs-turned-investors, first earned this moniker during
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Since then, angel investments, along with those of venture capitalists, have
expanded from Broadway to the Internet and beyond. Now, because traditional
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swoop down to fill in the seed-stage gap.
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=4461&nd=1126
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Broker and third-party reports
-----------------------------------------
1. TODAY'S SPECIAL REPORT
Robertson Stephens provides a comprehensive look at future energy investment
themes.
The firm identifies 3 sub-sectors they see in the energy technology industry.
They discuss industry fundamentals, solution demands, fuel cell technologies,
regulatory issues, and the universe of energy technology companies.
(231-page report for purchase - $300)
http://www.multexinvestor.com/download.asp?docid=25583277&nd=1126
2. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
Robertson Stephens looks at Q4 ad spending trends for radio and television
companies.
The firm looks at year over year spending comparisons, considers the effects of
the Sept. 11 tragedy, automobile promotions, and upcoming spending catalysts.
In the report, RS identifies 4 companies it considers "buys." (6-page report for
purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25527693&nd=1126
3. WHAT'S HOT?
Needham & Co. reports on the communications chip inventory situation.
Needham comments on chip inventories among both original equipment
manufacturers (oem) and contract manufacturers (cm). They provide a chart-
based '99-'01 analysis of inventories for oems, cms, Cisco (CSCO), and Nortel
(NT). (2-page report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=25514267&nd=1126
4. INVESTORS' CHOICE: 3-DAY FAVORITE
Standard & Poors profiles the NYSE's most capitalized company,
General Electric (GE).
S&P provides an overview, business summary, and industry outlook for GE.
Also included in the report, a peer group comparison, recent news headlines,
Wall Street analysts' consensus opinions, and S&P's fair value for
the stock. (5-page report for purchase - $5)
http://www.multexinvestor.com/download.asp?docid=407622&nd=1126
5. THIRD-PARTY REVIEW
Wall Street Strategies makes the case for continued strength in stocks.
Principal analyst Charles Payne cites several reasons he sees investors driving
the market higher. Also, he takes a technical look at major market indexes and
rates stocks in the consumer sector, including Phillip Morris (MO). (19-page
report for purchase - $150)
http://www.multexinvestor.com/download.asp?docid=25526308&nd=1126
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==============================================================
Online advice and chats
-----------------------------------------
1. ASK THE ANALYST
Schaeffer's Research's Bernie Schaeffer discusses important technical market
levels.
Schaeffer takes a look at recent market activity, keying on trendlines, possible
points of resistance, as well as development of overly bullish sentiment. What
critical technicals should you be looking at? Ask Bernie questions until Mon.
Nov. 26.
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2. ASK THE EXPERT
American Century Investment's Karen Burnett talks about choosing a retirement
plan for your business.
Choosing a retirement plan for your business or yourself is one of the most
important financial decisions you will make. Karen Burnett of American Century
Investments will take your questions until Thurs., November 29.
http://www.multexinvestor.com/AskTheExpertForm.asp?&nd=1126
Free and sponsored reports
-----------------------------------------
1. FREE RESEARCH REPORT
Prudential looks at recent developments in computer and application software.
The analysts discuss the launch of Microsoft's (MSFT) Windows XP and XBox,
Computer Associates (CA), Wind River Systems (WIND), Symantec (SYMC), Vignette
(VIGN), and more. This 11-page report, which usually sells for $25, is free
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2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $28 price target on diversified technology company
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arora-h/deleted_items/154.
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subject: FW: UBSW: German inflation falls more strongly than expected - with
content: *** PDF version incl. charts is attached ***
German inflation falls more strongly than expected
Nov 01 Actual UBSW fc Market Previous
CPI - mom% -0.2 0.0 0.0 -0.3
CPI - yoy% 1.7 1.9 1.9 2.0
n German CPI inflation dropped from 2.0% in October to 1.7% in the
month to mid-November. Thi swas 0.2%pts lower than expected. The
outcome is a consequence of sharply falling energy and food prices.
Core inflation will have remained unchanged. Pipeline inflation
indicators released yesterday underpinned the favourable trend.
n In the absence of further oil price decline, inflation is likely to
rise slightly next month. Further significant declines are expected
from February 2002, taking German inflation below 1% by the middle of
the year. If this is only partly mirrored in other euro area economies,
the ECB will have leeway to cut rates further next year as we expect.
Food and energy prices were the main forces behind the inflation
decline in November. From the state data, we estimate that food price
inflation will have fallen from 6.6% to about 5.5% yoy. Household
energy prices dropped by about 1.6% mom reflecting a substantial
heating oil price decline and petrol prices fell between 0.8% and 3.4%
in the reporting states. Core inflation will barely have changed from
last month's 1.8%.
The favourable German inflation picture was preceded by much larger
than expected declines in October produce r and import prices reported
yesterday. Altogether, the data of the last two days underpin our
forecast that both headline and core inflation will fall substantially
next year. Hence, our forecast of further ECB easing in 2002 Q1 remains
firmly in place.
_______________________________________________
Holger Fahrinkrug
Senior Economist
UBS Warburg AG
Stephanstra?e 14-16, D-60313 Frankfurt, Germany
Tel. +49 69 1369 8280
Fax +49 69 1369 8221
Email: [email protected]
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arora-h/deleted_items/158.
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subject: Power Indices
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Cinergy</FONT></TD><TD ALIGN=3D"RIGH=
T"><FONT size=3D-1> $21.75</FONT></TD><TD ALIGN=3D"RIGHT"><FONT siz=
e=3D-1> $17.25</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$18.57</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Comed</FONT></TD><TD ALIGN=3D"RIGHT"=
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=3D-1> $16.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$16.00</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
3.00</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 800</FONT>=
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Entergy</FONT></TD><TD ALIGN=3D"RIGH=
T"><FONT size=3D-1> $19.00</FONT></TD><TD ALIGN=3D"RIGHT"><FONT siz=
e=3D-1> $16.25</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$17.68</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
1.68</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 22,400</FONT=
></TD></TR> =
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=
=
=
=
=
=
=20
<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Nepool</FONT></TD><TD ALIGN=3D"RIGHT=
"><FONT size=3D-1> $27.50</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=
=3D-1> $27.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$27.22</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>-</B> =
2.03</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 2,400</FONT>=
</TD></TR> =
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=
=
=
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=20
<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Palo Verde</FONT></TD><TD ALIGN=3D"R=
IGHT"><FONT size=3D-1> $25.85</FONT></TD><TD ALIGN=3D"RIGHT"><FONT =
size=3D-1> $20.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1=
> $22.45</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B=
> 1.31</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 6,800</F=
ONT></TD></TR> =
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=
=
=
=
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=20
<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>PJM-West</FONT></TD><TD ALIGN=3D"RIG=
HT"><FONT size=3D-1> $22.25</FONT></TD><TD ALIGN=3D"RIGHT"><FONT si=
ze=3D-1> $21.25</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$21.72</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>-</B> =
1.91</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 30,400</FON=
T></TD></TR> =
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=
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=20
<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>SP-15</FONT></TD><TD ALIGN=3D"RIGHT"=
><FONT size=3D-1> $26.25</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=
=3D-1> $22.50</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$24.19</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
.29</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 3,600</FONT>=
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>TVA</FONT></TD><TD ALIGN=3D"RIGHT"><=
FONT size=3D-1> $19.00</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D=
-1> $17.30</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$17.75</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> 2.5=
0</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 8,000</FONT></T=
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arora-h/deleted_items/159.
|
subject: Gas Indices
content: <HTML>
<TITLE>Gas Indices - IntercontentalExchange</TITLE>
<BODY>
<P>
<P ALIGN=CENTER>
<FONT SIZE=+1>
<B>
IntercontinentalExchange
</B><BR>
</FONT>
Firm Physical Natural Gas Price Bulletin
<BR>
<BR><B>
For Natural Gas Delivered on Tuesday, November 27, 2001
</B>
<BR>
<FONT SIZE=-1>
<I>
(Trade Date of Monday, November 26, 2001)
</I>
</FONT>
<BR><BR>
Click here to access <A HREF="http://www.intcx.com/SubscriberServlet/subscriberservlet.class?operation=gasIndexForm&hub=All">index history</A>.
<BR>
<BR>
<FONT SIZE=-1>
<I>
* volume represents sell-side only *
</I>
</FONT>
</P>
<TABLE ALIGN="CENTER" WIDTH="100%" cellspacing="8">
<TR>
<TH align=left valign=bottom width="15%"> <FONT size=-1><U><I>Region</I></U><BR> <U>Hub</U></FONT></TH><TH align=right valign=bottom width="6%"><FONT size=-1><U>High</U></FONT></TH>
<TH align=right valign=bottom width="6%"><FONT size=-1><U>Low</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Wtd Avg Index</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Change ($)</U></FONT></TH>
<TH align=right valign=bottom width="9%"><FONT size=-1><U>Vol (mmBtu)</U></FONT></TH>
<TH align=left valign=bottom width="42%"><FONT size=-1><U>Hub Name</U></FONT></TH></TR>
</TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>LOUISIANA<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>ANR SE</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7880</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0765</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 220,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>American Natural Resources Pipeline Co. - SE Transmission Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia Onshore</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7328</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0989</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 311,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gulf Transmission Co. - Onshore Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Henry Hub</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8169</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0946</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,029,600</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Henry Hub tailgate - Louisiana </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL LA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7250</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7974</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0054</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 251,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 500L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.6212</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .1506</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 145,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 800L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.6387</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .1740</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 242,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.6387</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .2475</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 179,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - East LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO WLA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5550</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.5922</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .1966</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 193,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - West LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco 65</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7901</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .1489</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 307,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transco - Station 65 </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Trunkline ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7018</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .1073</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 95,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Trunkline Gas Company - East Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TxGas SL</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7482</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .1489</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 239,300</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Gas Transmission Corp.-Zone SL FT Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>MIDCONTINENT<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>MichCon, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1750</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.0246</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .0829</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 230,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Michigan Consolidated </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Midcont</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7958</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0926</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 149,700</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Mid-Continent Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Nicor, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9184</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0368</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 723,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Nicor Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL NIPSCO, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9807</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1037</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 130,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Nipsco Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NNG Demarcation</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.0768</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3292</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 226,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Northern Natural Gas, Demarcation Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>NORTHEAST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia TCO</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7377</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .2106</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 404,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gas Co. - TCO Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Dominion So.Point</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7539</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .3828</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 225,700</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Dominion - South Point </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO M3</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9092</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .2559</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 155,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - M3 Zone </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco Z-6 (NY)</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.0679</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>-</B> .2582</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 130,700</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso non-Bondad</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1750</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9711</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .5273</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 159,700</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - San Juan Basin, Blanco Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> Huntingdon/Sumas</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1966</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .5209</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 120,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Westcoast Energy & Northwest Pipeline Corp.</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Opal</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8893</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .4327</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 152,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Opal</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>PG&E Citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.2783</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .5771</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 293,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>PG&E - Citygate </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> SoCal Border</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1203</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .5317</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 203,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Southern California Border Points (Ehrenberg,Topock,Needles)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST TEXAS<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso - Keystone</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9687</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3724</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 477,900</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - Keystone Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Waha</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.0206</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3608</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 254,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Waha Hub - West Texas </FONT></TD></TR>
</TABLE>
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arora-h/deleted_items/16.
|
subject: Your Approval is Overdue: Access Request for [email protected]
content: This request has been pending your approval for 135 days. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.
Request ID : 000000000041547
Request Create Date : 6/19/01 7:50:30 AM
Requested For : [email protected]
Resource Name : \\nahoutrd\houston\pwr\common\Electric - [Read]
Resource Type : Directory
| ||
arora-h/deleted_items/160.
|
subject: Compelling small cap investment opportunity
content: *****************************************************************
As a registered Multex Investor member, we will occasionally
contact you with special opportunities provided by our partners.
To unsubscribe to this or any other exclusive offers, please see
the bottom of this message.
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To remove yourself from the mailing list for Special Promotions,
please REPLY to THIS email message with the word UNSUBSCRIBE in
the subject line. You may also unsubscribe on the account update
page at:
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arora-h/deleted_items/161.
|
subject: fyi: TYZ/TYH ROLL SHOULD NARROW/Roll longs now
content: Subject: TYZ/TYH ROLL SHOULD NARROW/Roll longs now
Date sent: Mon, 26 Nov 2001 15:24:12 +0000
Recommendation:
Roll long TYZs now at 39/32 or roll short TYZ
later in week 2 to 3/32 lower.
Rationale:
The TYZ/TYH roll will be impacted by a number of
factors. Most important, we believe, will be changes
in the contract's cheapest-to-deliver caused by market
movements. Changes in CTD will change the amount
of net positive carry that is the primary determinant of
the TYZ/TYH roll's value.
For example, The TYZ/TYH roll priced using the 6.5%
2/10 has 35.75/32 of net carry, while the roll priced with
the 4.7% 11/08 has only 28.5/32 of net carry.
|------------+--------+--------+--------|
|TYZ/TYH |TYZ est.|Net |Est. |
|Cheapest- |CTD |positive|TYH/TYZ |
|to-Deliver |switch |carry |roll |
| |price |(32) |(32) |
|------------+--------+--------+--------|
|4.7 11/08 | 111-00| 23.50| 33.0|
|------------+--------+--------+--------|
|5.5 5/09 | 109-00| 28.50| 36.0|
|------------+--------+--------+--------|
|6.0 8/09 | 106-16| 32.25| 37.5|
|------------+--------+--------+--------|
|6.5 2/10 | current| 35.75| 39.0|
|------------+--------+--------+--------|
|5.7 8/10 | 103-16| 30.50| 37.5|
|------------+--------+--------+--------|
Assumes term repo for TYZ at 1.9% and 1.8% for TYH.
Switch prices are estimates and can vary greatly due
to changes in CTD yield spreads.
TYZ/TYH Option Value
In addition to changes in net carry, the spread will also be
impacted by changes in the contracts' net option value.
Implied volatility on TYH options rose 150 basis points
during the previous week. The net option value, (TYZ option
value-TYH option value) is6.5/32. A 100 bps change
in TYH options' implied volatility should impact TYZ/TYH
roll by roughly 1.2/32
TYZ/TYH 60-day Spread History
Current 39/32
Average 33/32
High 39/32
Low 33+/32
Good Luck and Take Care
=======================================
Jon and Warren at the CBOT
312-987-5970 or 800-547-3587, 312-347-5061 =======================================
This report has been prepared for informational purposes only. It does not constitute an offer, recommendation or solicitation to buy or sell any securities. It is based on information generally available to the public from sources believed to be reliable. No representation is made that the information is accurate or complete or that any returns indicated will be achieved. Past performance is not indicative of future results. Price and availability are subject to change without notice. Additional information is available upon request. =======================================
| ||
arora-h/deleted_items/162.
|
subject: "Alan Greenspan's outfit is troubled by a research report dated
content: To all G7 clients,
We are pleased to see that SOMEONE is reading our survey...hope you are too.
Best regards,
Jane Hartley
CEO
G7 Group, Inc.
CONSUMERS TOO AFRAID TO SPEND
By JOHN CRUDELE
----------------------------------------------------------------------------
------
November 13, 2001 -- CONSUMERS are talking tough and optimistic, but acting
weak and glum.
That's the big problem in the American economy right now. And things like
yesterday's plane crash - whether caused by terrorism or not - are likely to
aggravate that situation.
The dual personality being exhibited by Americans is bothering the Federal
Reserve, whose interest-rate cuts won't be nearly as effective if consumers
are too scared to borrow money. I spoke with a source of mine who is
familiar with the Fed's thinking and he tells me that monetary authorities
are concerned, as well as perplexed, by consumers' unwillingness to part
with a dollar even as they are feigning confidence.
In particular, Alan Greenspan's outfit is troubled by a research report
dated Oct. 18 that was conducted by an independent Washington outfit called
G7 Group. The group had the Princeton Survey Research Associates interview
1,045 adults between Oct. 8 and 10.
This poll was given to me by someone close to the Fed.
The survey found that post-Sept. 11, Americans were putting on a good front.
For instance, 66 percent of the people polled said that now is a "good time"
to purchase a car or a house, but 63 percent said they "did not feel like"
making a major purchase.
Only 41 percent of the respondents felt like shopping for clothes and 75
percent felt comfortable buying only necessities like groceries.
Consumer confidence has been dropping since before the Sept. 11 terrorist
attacks. But the current level of confidence could be greatly overstated
because it measures what people are saying and not what they are doing.
And the Princeton Survey shows that consumers are talking a good game but
buckling when it comes to taking an economic turn at the plate.
Not surprisingly, job security is the chief concern, although Americans
refuse to admit it. Even though the U.S. lost 415,000 jobs last month and
our unemployment rate jumped sharply to 5.4 percent, more than 70 percent of
those surveyed said they felt the same or more optimistic than they did a
few months ago.
The Fed cut interest rates for the tenth time last week. Another rate cut is
expected in December. The Fed made an even bolder move two weeks ago when it
announced that it was going to stop selling 30-year government bonds.
The result was that interest rates on long bonds came down sharply, putting
them more in proportion with recent rate reductions. As I've said in
previous columns, the long bond has been a nuisance for the Central Bank
because it hasn't declined as much as expected. This has caused things like
mortgage rates to remain higher than they could have been.
The G7/Princeton survey explains to the Fed why its interest rate strategy
hasn't been working. But it doesn't necessarily explain why - as the
surveyors concluded - "the Sept. 11 attacks opened a chasm between what
Americans are thinking rationally about the economy and what Americans are
feeling as they now confront economic decisions."
What will yesterday's incident do to confidence?
That's anyone's guess. But unless the government quickly explains what
happened to the public - and that's unlikely in a crash investigation like
this - then Americans are likely to keep up their tough facade while being
weak in the knees.
Over the last decade America's mood has depended a lot on how Wall Street
was feeling. The stock market dipped sharply right after yesterday's plane
crash, but snapped back.
The Federal Reserve figures, I'm told, that if interest rates stay down and
the stock market remains stable, then Americans will eventually regain their
confidence.
Let's hope so. But if you are investing in a stock market that is this
overpriced, you should understand that the risks are great. And they are
getting greater.
-John Crudele, NY Post, November 13,2001
| ||
arora-h/deleted_items/163.
|
subject: Overview of Investor Conference Call
content: Today, Enron hosted a conference call to give investors a current overview =
of the company. Here's an update of what we discussed during the call.
We told investors that we're doing everything we can to protect their inter=
ests and to regain their confidence. Our focus remains on our credit qualit=
y, balance sheet and liquidity, which are essential for our continued succe=
ss and expansion of our wholesale businesses.
It took more than a few weeks to get where we are today. Here's a snapshot =
of significant events that led to our current situation:
-- In hindsight, we definitely made some very bad investments in our non-co=
re businesses over the past several years. Those include investments in Azu=
rix, India and Brazil. They have performed far worse that we could have eve=
r imagined when we made these investments;
-- Because of these bad investments, we've become over-leveraged as a compa=
ny. The negative impact of those investments was exacerbated through the ex=
tensive use of debt capital both on and off our balance sheet;
-- We also entered into related party transactions that led to a loss of in=
vestor confidence, which has been very damaging;
-- We've been criticized for our lack of transparency and our hard-to-under=
stand financial and operating disclosures; and
-- On top of it all, we discovered errors in our financial statements, as d=
iscussed in our 8-K filing last week, that required a restatement of previo=
usly reported earnings.
We've taken a new look at our businesses and have separated them into three=
areas: core businesses, non-core businesses, and businesses under review.
Core Businesses
Our core businesses remain strong and consistent sources of significant ear=
nings and cash flows for the company. They're our competitive advantage. Th=
ese include:
-- Natural gas pipeline businesses;
-- Gas and power businesses in North America and Europe;
-- Retail businesses in North America and Europe; and
-- Coal businesses in North America and Europe.
The events of the past few weeks have had a temporary negative impact on ou=
r projected fourth quarter profitability. It's too early to tell at this ti=
me what impact this might have on our operating results. We are considering=
these actions now so that we can quickly return to normal business in 2002=
.
I also remain optimistic that the actions we've taken over the past couple =
of weeks have addressed our customer and counterparty credit and liquidity =
concerns. According to our business unit leaders, we have definitely seen i=
mprovement in our counterparty relationships.
Non-Core Businesses
Our non-core businesses include our global assets group and our broadband d=
ivision. We have invested more than $8 billion in these businesses, and the=
return from them has been dismal.
We have an aggressive program in place to exit these businesses and expect =
that the sale of these businesses will generate billions of dollars in cash=
that we can use to repay debt and reinvest in our core businesses. We alre=
ady have more than $800 million in assets contracted for sale this year. Th=
ey include CEG Rio, a gas LDC in Brazil; EcoElectrica, a power plant and LN=
G receiving terminal in Puerto Rico; and asset sales of offshore oil and ga=
s properties in India. The approximately $2.9 billion Portland General sale=
is also on target to close in late 2002 pending regulatory approvals.
Businesses Under Review
These businesses are comprised of those operations outside our power and ga=
s wholesale businesses and include global and industrial markets. While sev=
eral of these businesses have very strong future prospects, we need to dete=
rmine if their capital requirements and near-term growth prospects are suff=
icient enough in terms of earnings and cash generation.
Reviewing our businesses this way will help determine where we need to make=
reductions to our work force. More information will follow as soon as it b=
ecomes available.
Credit Rating/10-Q Filing
We continue to meet regularly with credit rating agencies and believe that =
our liquidity enhancements and scheduled asset sales will strengthen our ba=
lance sheet and maintain our investment grade credit rating. Our current cr=
edit ratings by the three major rating agencies are as follows:
-- Moody's at Baa3 "Under Review for Further Downgrade"
-- Fitch at BBB- "Evolving Status"
-- S&P at BBB- "CreditWatch Negative"
We also discussed our existing financial vehicles, including Osprey, Marlin=
and Yosemite, in further detail. We told investors that we will file our 1=
0-Q five days late due to our current activities. It will be filed on Nov. =
19.
We will continue to have updates with investors over the coming weeks as we=
ll as our frequent updates with you. The full transcript of our conference =
call will be filed with the Securities and Exchange Commission in the next =
few days. It will also be posted on our web site at www.enron.com/corp/inve=
stors under "SEC Filings."
=20
=20
In connection with the proposed transactions, Dynegy and Enron will file a =
joint proxy statement/prospectus with the Securities and Exchange Commissio=
n. Investors and security holders are urged to carefully read the joint pro=
xy statement/prospectus regarding the proposed transactions when it becomes=
available, because it will contain important information. Investors and se=
curity holders may obtain a free copy of the joint proxy statement/prospect=
us (when it is available) and other documents containing information about =
Dynegy and Enron, without charge, at the SEC's web site at www.sec.gov. Cop=
ies of the joint proxy statement/prospectus and the SEC filings that will b=
e incorporated by reference in the joint proxy statement/prospectus may als=
o be obtained for free by directing a request to either: Investor Relations=
, Dynegy Inc., 1000 Louisiana, Suite 5800, Houston, TX 77002, Phone: (713) =
507-6466, Fax: (713) 767-6652; or Investor Relations, Enron Corp., Enron Bu=
ilding, 1400 Smith Street, Houston, TX 77002, Phone: (713) 853-3956, Fax: (=
713) 646-3302.
In addition, the identity of the persons who, under SEC rules, may be consi=
dered "participants in the solicitation" of Dynegy and Enron shareholders i=
n connection with the proposed transactions, and any description of their d=
irect or indirect interests, by security holdings or otherwise, are availab=
le in an SEC filing under Schedule 14A made by each of Dynegy and Enron.
| ||
arora-h/deleted_items/164.
|
subject: Work smart. Be smart. Have fun.
content: Dear FT.com user
Click the following link to experience an interactive online
learning tool from FT New York Institute of Finance:
http://tm0.com/821/sbct.cgi?s=247679897&i=419899&d=2017208
NYIF Online is the virtual classroom of the FT New York
Institute of Finance. To maintain your competitive edge
and advance your career, all you need is a modem, a
browser, and a good sense of humor. Learning with NYIF
Online is that simple. Our web-based courses feature
expert faculty, lively animations, and interactive
exercises to ensure that you're learning. Plus,
the courses are available 24 hours a day. So whether
you're at home, at work or on a business trip, with
NYIF Online you always receive the most up-to-date,
practical information and training.
NYIF Online. All the financial expertise you need. Twice the
creativity.
Visit http://tm0.com/821/sbct.cgi?s=247679897&i=419899&d=2017209
to demo an actual NYIF Online program.
For more information, please contact 212-641-6663.
FT New York Institute of Finance
1330 Avenue of the Americas, 16th Fl.
New York, NY 10019
+1 212 641-6663
[email protected]
www.nyif.com/online
Yours sincerely
FT.com
To unsubscribe from this FT.com correspondence, please
reply to this message with the single word 'unsubscribe'
in the subject line. Your name will then be removed
from our mailing list.
| ||
arora-h/deleted_items/165.
|
subject: Chemist Request in Delhi
content: Hi Harry,
The Chemist in Delhi (Kuber Chemist ) has requested for the phone number for New Jersey address. I presume that is required by the courier service in India. He also mentions that the medicines will take about a week to arrive from the date of departure.
Regards,
Sumant
| ||
arora-h/deleted_items/166.
|
subject: Stocks in the 3 Major OECD Regions
content: PIRA has published its latest estimates for stocks in the 3 Major OECD
Regions with data thru October 2001. We have also published a Current
News and Analysis article entitled "REPORTED OCTOBER DOE U.S. GASOLINE
DEMAND PROBABLY REFLECTS SECONDARY/TERTIARY INVENTORY REFILL". Please go
to http://www.pira.com
And log in to PIRA Online. If you do not have a user id and password
please
contact Dyana Rothman [email protected] to get connected.
Best Regards
The PIRA Energy Group
| ||
arora-h/deleted_items/167.
|
subject: FW: Highlights from this morning's ENE/DYN analyst conference call
content: -----Original Message-----
From: Pehlivanova, Biliana
Sent: Monday, November 12, 2001 10:54 AM
To: Rohmer, Gisselle; Beylin, Anya; Marolo, Massimo; Velez, Luis; Ramirez, Jose A; Guzman, Julio; Lombard-Benito, Giselle; Mills, Bruce; Kulic, Sladana-Anna; Cardenas, Catalina; Gupta, Gautam; Khandker, Dayem; Gandhi, Sachin
Subject: FW: Highlights from this morning's ENE/DYN analyst conference call
-----Original Message-----
From: Tucker, Patrick
Sent: Monday, November 12, 2001 10:25 AM
To: Pollan, Sylvia S.; Culotta, Lindsay; Murrell, Russell E; Plachy, Denver; Cuilla, Martin; Storey, Geoff; Yawapongsiri, Virawan; Mahmassani, Souad; Donohoe, Tom; Ruscitti, Kevin; Shively, Hunter S.; Lewis, Andrew H.; Giron, Darron C.; Frihart, Bryant; Tucker, Patrick; Roberts, Linda; Luce, Laura; Hogan, Irena D.; Vickers, Frank; Williams, Jason (Trading); Mims, Patrice L.; Simpson, James; Hodge, John; Keavey, Peter F.; Mckay, Brad; Mckay, Jonathan; Pereira, Susan W.; Pimenov, Vladi; Ring, Andrea; Savvas, Leonidas; Townsend, Judy; Versen, Victoria; Barbe, Robin; Concannon, Ruth; Goodell, Scott; Jones, David; Kaiser, Jared; Loving, Scott; Bates, Kimberly; Muhl, Gil; Smith, Maureen; Smith, Shauywn; Taylor, Craig; Willis, Jim
Subject: Highlights from this morning's ENE/DYN analyst conference call
Listened in on the analyst call this morning. Here are my notes. Did not yet have a chance to organize them, so they're simply in chronological order.
The call began with Watson, Bergstrom, and Whalley reading from prepared statements. Watson spoke for c. 10 minutes, Bergstrom for 5, and Whalley spoke for perhaps 30 seconds. Dynegy management was noticeably in control of the call. Enron executives spoke when questions were directed to them.
Specific points:
EES will be a part of the new company.
Enron assets will be revalued at closing.
The investment in Northern Natural takes the form of convertible preferred. If the merger does not go through, Dynegy has the right to acquire Northern for 'very little' additional consideration. If DYN terminates the merger and ENE 'has sufficient liquidity', ENE has right to repurchase the convertible preferred.
Debt/equity of combined company expected to be <45%.
Both companies will remain on RatingsWatch negative.
ChevronTexaco will hold 169MM shares out of a total 650MM shares of the post-merger entity.
Watson reiterates that going forward, the new entity will be run with a focus on transparent and clear financial structure and disclosure, with a significant reduction in on- and off-balance-sheet leverage.
In what was termed a "new approach", the new entity will be run with a focus on cash flow rather than earnings.
Rumors that Dynegy did the deal because of an unhedged exposure to Enron are not true. Dynegy owed Enron <$50MM.
Lay says that Enron had other options, 'particularly financial'.
All of the discussion and activity has taken place over the last two weeks.
Lay acknowledges that the number for exposure to securities lawsuits may be 'pretty big', but that the companies feel they're able to appropriately value this exposure.
Lay says we have nothing else to hide, but internal investigation still under way.
Lay: had the SPEs been capitalized with perhaps $30MM more of risk capital, there would have been no question that they would have qualified for off-balance-sheet treatment and there would have been no need to restate earnings last week to reflect consolidation of the SPEs.
Dynegy says that 'several' internal investigations continue at Enron, and thus DYN/ENE cannot say with certainty that there's absolutely nothing else out there.
Doty (Dynegy CFO) says that late last week, ENE had 'close to a billion' in cash.
Osprey will be unwound late next summer. Marlin will be unwound after closing.
Many of the off-balance-sheet structures, including the credit-linked notes, are expected to be unwound/redeemed or at least significantly reduced prior to closing.
With regard to ENE asset dispositions, these will be accelerated to the extent possible. However, Doty says that 'our backs are not against the wall', and the company will continue to focus on getting value for its assets as well as cash.
ENE will renew its 364-day facility (believe this is the $3Bn facility that we drew down a couple of weeks ago) within the next 6-8 weeks.
BBB-flat most likely rating for combined entity, according to initial comments from ratings agencies.
McMahon says 'no comment' to WSJ article indicating that ENE's banks are preparing to make an equity infusion into ENE in the next few weeks.
Consolidation of trading activity: Mid- and back-office consolidation will see substantial progress prior to closing, such that only the front office / trading books will need to be combined at closing. EES, NNG and TW have no real overlap with existing DYN activity, so there won't be much integration work required there. The big integration effort will be ENA.
Watson says that the 'creative financing' surrounded non-core assets. Doty adds that, 'frankly', DYN assigned zero economic value to non-core businesses in their valuation model. They bracketed the maximum expected exposure from the non-core assets/businesses and left it at that.
Watson mentions that DYN would not have gotten involved with Enron had they not been approached by 'Enron's top three executives', who said that they thought a combination with Dynegy made the most strategic sense for both companies. Says that their approach evidenced a willingness to work with DYN to integrate the two companies that made a big difference in Dynegy's deliberations on proceeding with the merger.
Watson/Doty said that they're NOT 100% sure that no surprises remain in Enron's books--but that the risk/reward offered by the combination was compelling.
The deal does have material-adverse-change outs for Dynegy, covering any MAC regarding Enron's assets or businesses. Dynegy's lawyers indicated that the MAC language was a 'blunt instrument' under which it would be difficult to bring a case, so Dynegy inserted a specific paragraph that gives Dynegy the right to terminate the merger if the Enron's total legal liability (from any source or cause of action) tops $3.5Bn prior to closing.
McMahon adds that there 'could' be more restatements, but he 'does not expect' there to be more restatements.
ENE international hard assets definitely on the asset disposition list.
The merger structure calls for a new entity to take over Enron.
Enron is planning to hold an Enron-specific conference call in the next few days, tentatively scheduled for Wednesday.
Initial reaction of ratings agencies 'very positive' to combined entities.
McMahon acknowledges that Enron would have had to have an additional equity infusion prior to year-end, had the merger not materialized.
Dynegy's earnings guidance places Enron-related earnings accretion at $0.90-0.95, which represents a '25% haircut' to Enron internal estimates. Doty says that this is all operating earnings--figure does not include any amounts from expected synergies.
Doty says that both Enron and Dynegy's books, as far as he understands, are relatively short-term in weight, and this will continue to be the weighting of the new entity. Says a 'very very substantial' portion of future trading earnings will be expected to be cash.
ChevronTexaco's investment in Dynegy was calculated at a 5% discount to public prices on the date of negotiation (not disclosed). Given the runup in Dynegy stock last week, ChevronTexaco's investment is now at a 'more substantial' discount to market prices. ChevronTexaco has provision to get 'different prices at closing if those prices are substantially better'. (No further clarification given).
Whalley believes that 'we'll retain' the Enron traders and marketers. They're used to being part of a winning team, and the combined entity will definitely be a winner. They have talked with most of the Enron business leaders, and they are 'very excited' by the combination. They will be working with the Enron business leaders to ensure talent is retained. Whalley was asked if there will be any key employee retention provisions. He says that 'to the extent necessary, yes.'
Watson says that the trading strategy of the combined entity will be a combination of DYN and ENE--there will be more of an asset-backed trading focus, but by the same token the new Dynegy will be involved in much more financial market-making trading than the Dynegy of today.
Watson says that if there were to be any change in culture, he's a strong team player. He does not want to see an individual do well if the company or division does not do well.
Patrick Tucker
| ||
arora-h/deleted_items/168.
|
subject: RE:
content: Sounds good!
-----Original Message-----
From: Arora, Harry
Sent: Tuesday, November 27, 2001 10:47 AM
To: Rogers, Benjamin
Subject: RE:
11:45 at La Griglia (on West Gray) ?
-----Original Message-----
From: Rogers, Benjamin
Sent: Tuesday, November 27, 2001 10:27 AM
To: Arora, Harry
Subject: RE:
Sounds good. 11:30?
-----Original Message-----
From: Arora, Harry
Sent: Tuesday, November 27, 2001 10:23 AM
To: Rogers, Benjamin
Subject: RE:
Ben
You want to go get lunch ?
-----Original Message-----
From: Rogers, Benjamin
Sent: Tuesday, November 27, 2001 8:16 AM
To: Arora, Harry
Subject:
Whats your cell #? I think I gave Mike Cyrus your home #. I talked with him last night and he was going to give you a call. Lets you and me try and talk today. I have some material about these guys that you will appreciate.
Ben
| ||
arora-h/deleted_items/169.
|
subject: RE:
content: Sounds good. 11:30?
-----Original Message-----
From: Arora, Harry
Sent: Tuesday, November 27, 2001 10:23 AM
To: Rogers, Benjamin
Subject: RE:
Ben
You want to go get lunch ?
-----Original Message-----
From: Rogers, Benjamin
Sent: Tuesday, November 27, 2001 8:16 AM
To: Arora, Harry
Subject:
Whats your cell #? I think I gave Mike Cyrus your home #. I talked with him last night and he was going to give you a call. Lets you and me try and talk today. I have some material about these guys that you will appreciate.
Ben
| ||
arora-h/deleted_items/17.
|
subject: Your Approval is Overdue: Access Request for [email protected]
content: This request has been pending your approval for 135 days. Please click http://itcapps.corp.enron.com/srrs/auth/emailLink.asp?ID=000000000041547&Page=Approval to review and act upon this request.
Request ID : 000000000041547
Request Create Date : 6/19/01 7:50:30 AM
Requested For : [email protected]
Resource Name : \\nahoutrd\houston\pwr\common\power2\Region - [Read]
Resource Type : Directory
| ||
arora-h/deleted_items/170.
|
subject:
content: Whats your cell #? I think I gave Mike Cyrus your home #. I talked with him last night and he was going to give you a call. Lets you and me try and talk today. I have some material about these guys that you will appreciate.
Ben
| ||
arora-h/deleted_items/171.
|
subject: Tuesday Nov. 27: Picks and pans
content: TODAY: Today, Charles Payne offers his investment insights on 17
telecom stocks, some of which hold promise, he says, while others
will never get back off the ground. In addition, we feature articles
on tower stocks and mobile phone companies eyeing the Internet, and
in his weekly contribution, "international wires," columnist Ben Mattlin
discusses Russian telecom stocks with high analyst ratings.
Multexinvestor.com members can also take advantage of a free offer
to sign up for research from Morgan Stanley on McLeodUSA (MCLD)
(as well as other stocks).
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Investment ideas
-----------------------------------------
1. Picks and pans: Telecom favorites and has-beens
Charles Payne rates 17 telecom stocks that sank like hot air balloons for their
ability to regain altitude or not.
By Charles Payne, founder, CEO, and principal analyst, Wall Street Strategies
The telecommunications sector's equipment makers has been at the root of all
the heartache felt by investors over the last two-years; it represents the
bloated inventories and even more bloated valuations; investors thought they
were gliding to a land of early retirements, vacation homes and endless toys when
the balloon began to lose air (it didn't pop, but behaved more like a hot air
balloon that descended faster and faster as it approached a hard landing).
Like visionaries in love with a concept, investors are still in love with
the telecommunications space and will continue to bet on the balloon recovering
altitude and taking flight once more. I agree that some of these balloons will
indeed become airborne, but getting them off the ground will be trickier than
advertised.
Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=4552&nd=1122
2. Upwards revisions: Better and better
Rather than taking the sector as a whole, investors should consider individual
opportunities.
By Dave Sterman
Recessions are something of a double-edged sword for investors. On the one hand,
sales growth slows for many of their portfolio companies, taking share prices
on a southbound trajectory. But for those with cash to spare, they have a rare
chance to buy quality companies at fire sale prices.
With that in mind, we went screening for long-term winners in the telecom sector
that are now quite cheap. We specifically sought out stocks that are now fairly
inexpensive when compared to their historical earnings growth rate. As the
accompanying table shows, these stocks have a PEG (price/earnings ratio in
relation to earnings growth) of below 0.7.
And to make sure that analyst sentiment corroborates the attractive valuation,
we insisted these stocks be supported by at least three "strong buy" ratings,
and that analysts have raised their ratings over the last three months.
Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=4365&nd=1122
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3. Upside potential: Unusual support looms for tower stocks
Debt burdens and zoning laws may seem like unlikely benefits, but there you
have it.
By Dave Sterman
Toss another sector into the telecom rubble. Shares of cell tower operators
are hitting new lows and now sell for just a small fraction of their peaks.
Curiously, on many levels, the sector is fairly healthy; revenues are strong,
and major players have been able to avoid the cutthroat price wars that have
characterized the rest of the telecom industry.
That apparent disconnect could spell an opportunity for investors with a strong
stomach for a long and bumpy ride. These firms are saddled with eye-popping
levels of debt, but should soon benefit from a much more rational operating
landscape. Weaker players are on the ropes, and their eventual demise will enable
the stronger players to get back on their feet as they garner a bigger slice of
the pie.
Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=4364&nd=1122
4. International wires: From Russia with love
A troika of telecom stocks that are well-positioned for current trends and gaining
analyst esteem.
BYLINE: Ben Mattlin, equity research columnist
When shares of Russian-based telecom companies start earning a measure of analyst
esteem, savvy investors owe it to themselves to take a further look.
To be sure, these three Russian telcos haven't yet attained analysts' highest rating,
but quite surprisingly--and seemingly out of nowhere--each has an average rating better
than a neutral 3, and one of them has moved up to an average rating of 2 ("buy").
What gives?
Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=4425&nd=1122
5. Changing directions: Mobile phone makers eye wireless Internet opportunity
Companies look past current troubles toward growing the mobile data market
by John Filar Atwood, equity research columnist
Worsening economic conditions have caused a major strategic shift in the mobile
handset industry. The segment's top companies have begun to de-emphasize phone
sales and are eyeing the wireless Internet as a key driver of future revenues.
It's no surprise given recent industry performance. Third quarter handset
shipments were down by 10% over last year. Motorola's (MOT) sales fell by 22%
in the quarter, and Ericsson's (ERICY) phone operations have been so damaging
to its bottom line that the company finally moved them into a joint venture with
Sony (SNE).
Click here to read more:
http://www.thetelecommanalyst.com/article.asp?docid=4447&nd=1122
======================== Sponsored by =========================
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Broker reports
-----------------------------------------
1. SPECIAL REPORT: Your daily fiber
JDS Uniphase (JDSU), Corvis (CORV), Stratos Lightwave (STLW), ONI
Systems (ONIS), and Agere (AGR.A) are some of the companies discussed.
CIBC focuses on recent earnings and/or guidance, product developments, and
prospects. (6-page report for purchase - $25)
http://www.thetelecommanalyst.com/download.asp?docid=25353489&nd=1122
2. EDITOR'S PICK: Telecom carrier trends from an equipment perspective
The analysts discuss the future of telecom capex, wireline service
fundamentals, data revenue growth/traffic, wireless capex, and Chinese
demand. They explain why investors should focus on carrier fundamentals
as a precursor to recovery. (7-page report for purchase - $25)
http://www.thetelecommanalyst.com/download.asp?docid=25391719&nd=1122
3. PREMIUM REPORT: Do the Bells ring loudly?
Robertson Stephens reports on the current state of the nation's 4
regional bell operating companies.
A collective and individual take on BellSouth (BLS), Verizon (VZ),
Qwest (Q), and SBC (SBC) is provided, as well as investment conclusions.
Valuation, long-distance, DSL/data service, wireless, and competition are
discussed. (80-page report for purchase - $150)
http://www.thetelecommanalyst.com/download.asp?docid=25610009&nd=1122
================================================================
Click here to register at Multex Investor:
http://www.multexinvestor.com/registration/regWrapA1Basic.asp
Click here for The Telecomm Analyst homepage:
http://www.multexinvestor.com/Analysts/HomeTTA.asp
If you'd like to learn more about Multex Investor, please visit:
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If you can't remember your password and/or your user name, click here:
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If you want to update your email address, please click on the url below:
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Like a specific article? Now you can send it to a friend with just
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| ||
arora-h/deleted_items/172.
|
subject: GS Daily RV Comment - Tue Nov 27
content: COMMENTS
DANISH INSURERS
As expected yday, Danish regulators reduced the discount rate used to value
insurance liabilities from 4.00% to 3.75% despite the fact that the formula
called for them to reduce the rate to as low as 3.5%. This marks yet another
meeting where the Council reduced the rate by less than what was dictated by
the formula and this likely reflects the lobbying pressure being applied by
the Danish insurance industry. The attached graph plots the discount rate
required by the formula (not the rate chosen by regulators) vs 5y5y EUR vol.
It's interesting to note that vol reached it's peak EXACTLY when the
discount rate reached its trough. It's also interesting to note how quickly
vol sold off when the discount rate rebounded from the 3.50% low (as
equities rebounded). Overall, while we suspect there will be some smaller
funds feeling some pain with this latest reduction, it's likely much less
than the forced buying that we probably would have seen if the rate was
reduced by the amount required by the formula. Going forward, it seems the
best guide to the performance of long dated vol and cash in Euroland is the
overall level of the index. Happy to provide more information on this if you
want more clarification.
<<dkkvol.doc>>
EUR SWAPS
One of the quietest days of the year yday as the market rallied and the
Tresor was nowhere to be seen. Will be interesting if today's weakness
brings them back into the market. Tresor aside, the focus now shifts to an
increasing corporate pipeline that will see a 750mm 5y deal from Alcatel,
and 500mm 7yr deal from Tomkins, a 5y or 7y deal from Metro, and a 500mm 10y
deal from Royal Ahold coming to the market over the next several days. With
swap spreads very close to their tightest levels of the year, we've seen
little interest in swap spread widening positions & with the Tresor looming
and issuance increasing, we suspect spreads will continue on their
tightening path for at least the balance of the week. Overall, it seems this
week will provide a very good barometer of how the rest of the year will be
from a flow perspective as there appears to be little incentive to
jeopardize yearly performance (good or bad) by committing large amounts of
capital to a market that's been particularly vicious over the past two
weeks.
EUROPE TRADING VIEW
Our overall trading view is to buy on weakness and sell on strength this
week. Due to illiqudity and lack of risk capital commitment before year end,
and no major economic data to turn the market around, our trading strategy
this will likely be BUY AND TRADE, wait until new year, and then BUY AND
HOLD. A few other points:
* Note that Europe and US have began to sell off at the same time.
Based on empirical studies, the simultaneous sell off usually signals a
correction, not a prolonged bear market.
* 5s in Europe have under performed very sharply relative to the
beginning of all previous bear markets. Note that supply in that sector is
now behind us, and supply will concentrate in 10 year sector in next two
weeks.
* Stocks, Bonds and commodities market have all thrown in the towel
for a V shape recovery. What's the probability that all three markets are
wrong?
* MSCI reweightings this week. Our research estimated 4.7 billion out
of Eurozone and about 4.2 billion into UK. However, this news is priced in
the market in our opinion. If European fixed income sold off because of the
reweightings this week, we would fade that trade and go long European fixed
income.
LEVELS (close to close, ex basis)
SWAP CURVE
GBP/EUR(EUR convention)
today t-1
5y5y -20 -20
15y15y -139 -141
10/30? -36.0 -38.0
10/30E +43.5 +43.5
GBP SWAP SPREADS
EUR SWAP SPREADS
5y: Bobl 138 23.5 0.5 narrower
10y: Jan 11 bund 31.9 0.7 narrower
30y: Jan 31 bund 20.2 0.5 narrower
EUR SWAP VOLATILITY
3m into 10yr 14.9 0.1 higher
1y into 10yr 13.5 0.1 higher
2y into 10y 12.9 unch
5y into 5y 13.1 0.1 higher
5y into 25y 11.0 0.1 higher
10y into 20y 10.4 0.1 higher
5y5y swaption/5x10 cap spread 2.3
This material is for your private information, and we are not soliciting any
action based upon it. This report is not to be construed as an offer to sell
or the solicitation of an offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. Certain transactions,
including those involving futures, options, and high yield securities, give
rise to substantial risk and are not suitable for all investors. The
material is based upon information that we consider reliable, but we do not
represent that it is accurate or complete, and it should not be relied upon
as such. Opinions expressed are our current opinions as of the date
appearing on this material only. While we endeavor to update on a reasonable
basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so. We and our
affiliates, officers, directors, and employees, including persons involved
in the preparation or issuance of this material may, from time to time, have
long or short positions in, and buy or sell, the securities, or derivatives
(including options) thereof, of companies mentioned herein. No part of this
material may be (i) copied, photocopied or duplicated in any form by any
means or (ii) redistributed without Goldman, Sachs & Co.'s prior written
| ||
arora-h/deleted_items/173.
|
subject: ConEd - Lakewood Peaker
content: Harry:
Got the bid documents for ConEd's offering of peaking capacity for PJM East (Lakewood, New Jersey). Can't imagine they would entertain an Enron bid right now without confiscatory credit pricing. Do you want to bid anyway? Let me know.
| ||
arora-h/deleted_items/174.
|
subject: RE:
content: Thanks a heap. Will be waiting with baited breath. Hope you had a nice vacation!
-----Original Message-----
From: Arora, Harry
Sent: Thursday, November 22, 2001 8:22 PM
To: Blair, Greg
Subject: RE:
Hi Greg
I was out on vaca for last week. Am back Monday. Will be happy to put numbers on all this stuff.
Harry
-----Original Message-----
From: Blair, Greg
Sent: Mon 11/19/2001 3:20 PM
To: Arora, Harry
Cc:
Subject:
Harry:
Are you still alive?
| ||
arora-h/deleted_items/175.
|
subject: Driving Direct CP Issuance
content: http://www.treasuryandrisk.com/issues/Nov01/01NOdriv.html
E-FINANCE
Driving Direct CP Issuance
New Product Lets Issuers Build Real-Time Market Picture
By Susan Kelly
Last December, Julie Nickoley, senior manager of commercial paper
operations at DaimlerChrysler, agreed to work with Prescient Markets to
develop a Web-based subscription technology service to help companies price
and manage their commercial paper issuance. The goal: a system to provide
real-time flow of short-term prices and a way to track investors and
competing issuers. At the time, the global automaker and long-time direct
CP issuer saw the possibilities as interesting, but not necessarily a
priority.
All that changed two months later, when DaimlerChrysler's CP was downgraded
to A2/P2. Suddenly, big money-market funds, which once constituted 85% of
DaimlerChrysler's market, were no longer buyers. Nickoley had an immediate
need to figure out what other buyers existed out in the market to take
their place, but it took her a day or two to get investor information out
of the mainframe-based system she used to manage CP issuance.
In October, the kind of capability Nickoley sought finally became available
with the introduction of Prescient Funding Desk. Now we know for all
customers what time of day they trade, what size of trade they normally do,
if they come in through cpmarket or on the phone, says Nickoley. The
customer analytics was the key.
With the development of Funding Desk, companies can get information on
prices, including fluctuations in competitors? CP rates and what investors
are looking for in the market on a real-time basis. Funding Desk's pricing
module provides short-term market rates from Prebon Yamane and CP rates
from cpmarket.com, Prescient?s online platform for direct issuance of CP.
In Tune with Market
The advantages? Trades done on cpmarket.com flow automatically into Funding
Desk, and Prescient says it is working on a link with Bloomberg that will
bring in data on trades done on Bloomberg's CP platform. Companies can save
on funding costs by using the data to target less yield-sensitive
investors. They can also save money by knowing when competitors move rates
and then matching those moves. Using Funding Desk, we're much more in tune
to whether pricing is changing in the market, DaimlerChrysler's Nickoley
says. Besides cost savings, issuers may simply want to keep tabs on their
investors to ensure that no one investor holds too large a chunk, in order
to lessen the risk of having to scramble to find other buyers if a big
investor exits suddenly.
Targeting New Issuers
Laurent Paulhac, Prescient's president, won't give the price of Funding
Desk, but says it varies based on the size of a corporation's CP program.
So far only DaimlerChrysler and ChevronTexaco are using Funding Desk.
Paulhac defines the market for Funding Desk as the 500 U.S. companies with
more than $1 billion of CP outstanding. About 40 of those companies now
sell some or all of their CP directly. But given the ease of electronic
issuance and the support available on Funding Desk, Paulhac expects more
companies will move toward direct issuance via the Web. In fact, officials
at both Prescient and Bloomberg say they were already seeing more interest
in their platforms for direct issuance from companies that traditionally
placed their CP through dealers - even before Funding Desk's debut.
If those companies are going to sell paper directly, they're going to need
something on the funding desk or treasury operations side to account and
process and transact, says Craig Dukes, North American manager for
short-term funding at Ford Motor Credit. Funding Desk is a perfect fit for
those people.
Laurent Paulhac
Prescient Markets, Inc 914-989-3111 (W)
445 Hamilton Avenue 914-422-3693 (F)
White Plains, NY 10601 914-715-4060 (M)
Please visit us at http://www.cpmarket.com
| ||
arora-h/deleted_items/176.
|
subject: late on Tuesday
content: Harry,
I will be late tomorrow morning because I had a dental surgery this afternoon. I am fine but the pain is bothering me and I probably will come in a bit late in morning. See you in office!
Hai
713.797.9782
| ||
arora-h/deleted_items/177.
|
subject: OnePass Member continental.com Specials for harry arora
content: continental.com Specials for harry arora
Tuesday, November 27, 2001
****************************************
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Fast, safe, and dependable direct train service from Newark Airport to midtown Manhattan in less than 30 minutes.
Visit continental.com at:
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for more information.
TRAVEL UPDATES
Be sure to check continental.com at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C*9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9-A
before leaving for the airport. We?re looking forward to welcoming you onboard!
****************************************
TABLE OF CONTENTS
1. This Week's Destinations
2. Continental Vacations Offers
3. Hilton Hotels & Resorts, Doubletree Hotels & Resorts, & Embassy Suites Hotels Offers
4. Alamo Rent A Car Offers
5. National Car Rental Offers
****************************************
1. THIS WEEK'S DESTINATIONS
Depart Saturday, December 1 and return on either Monday, December 3 or Tuesday, December 4, 2001. Please see the Terms and Conditions listed at the end of this e-mail.
For OnePass members, here are special opportunities to redeem miles for travel to the following destinations. As an additional benefit, OnePass Elite members can travel using the miles below as the only payment necessary. The following are this week's OnePass continental.com Specials.
To use your OnePass miles (as listed below) to purchase continental.com Specials, you must call 1-800-642-1617.
THERE WILL NOT BE AN ADDITIONAL $20 CHARGE WHEN REDEEMING ONEPASS MILES FOR CONTINENTAL.COM SPECIALS THROUGH THE TOLL FREE RESERVATIONS NUMBER.
If you are not using your OnePass miles, purchase continental.com Specials online until 11:59pm (CST) Friday at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C*9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%2CA
You can also purchase continental.com Specials for an additional cost of $20 per ticket through our telephone service at 1-800-642-1617.
****************************************
TRAVEL MAY ORIGINATE IN EITHER CITY
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****Roundtrip BETWEEN NEW YORK/NEWARK and:
$29 + 12,500 Miles or $119 - Ft. Lauderdale, FL
$29 + 10,000 Miles or $109 - Hartford, CT
$29 + 10,000 Miles or $109 - Manchester, NH
$29 + 10,000 Miles or $109 - Providence, RI
********************************
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5,000 OnePass Bonus Miles Just for Skiing!
Enjoy the best of Colorado's white powder during ski season. Book a ski package for 5 nights or longer and you can earn 5,000 OnePass Bonus Miles on Continental Airlines.
For more information about this exciting offer, visit:
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****************************************
3. CONTINENTAL.COM SPECIALS FROM HILTON HOTELS AND RESORTS, DOUBLETREE
HOTELS AND RESORTS, AND EMBASSY SUITES HOTELS
The following rates are available December 1 ? December 3, 2001 and are priced per night.
--------------------------------------
Fort Lauderdale, FL - Hilton Fort Lauderdale Airport, Dania, FL. - $119
Hartford, CT - Hilton Hartford, Hartford, CT. - $119
Manchester, NH - Hilton Dedham Place, Dedham, MA. - $79
Newark, NJ - Hilton Parsippany, Parsippany, NJ. - $89
Newark, NJ - Doubletree Club Suites Jersey City, Jersey City, NJ. - $159
New York, NY - Hilton New York, New York, NY. - $179/Night, 12/1-2
To book this week's special rates for Hilton Family Hotels, visit and book at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C*9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9*A
Special rates apply only for the dates listed at each hotel and are subject to availability. Check hilton.com for specific dates at each Hilton Family Hotel. Or call at 1-800-774-1500 and ask for Value Rates. Restrictions apply to these rates.
********************************
4. CONTINENTAL.COM SPECIALS FROM ALAMO RENT A CAR
Rates listed below are valid on compact class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, December 1 with returns Monday, December 3 or Tuesday, December 4, 2001.
-------------------------------
$26 a day in: Hartford, CT (BDL)
$26 a day in: Newark, NJ (EWR)
$26 a day in: Fort Lauderdale, FL (FLL)
$26 a day in: Providence, RI (PVD)
To receive continental.com Specials discounted rates, simply make advance reservations and be sure to request ID # 596871 and Rate Code 33. Book your reservation online at:
http://continentalairlines.rsc01.net/servlet/cc3?%7C%7E1.%2C*9w%7Empm%7E_z%7Ck1zqmpq1%7Cpr9K9%29A
or contact Alamo at 1-800 GO ALAMO.
*If you are traveling to a city or a different date that is not listed, Alamo offers great rates when you book online at:
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For complete details on these offers, please refer to Alamo's terms and conditions below.
****************************************
6. CONTINENTAL.COM SPECIALS FROM NATIONAL CAR RENTAL
Rates listed below are valid on intermediate class vehicles at airport locations only. Other car types may be available. Rates are valid for rentals on Saturday, December 1 with returns Monday, December 3 or Tuesday, December 4, 2001.
------------------------------------------
$29 a day in: Hartford, CT (BDL)
$29 a day in: Newark, NJ (EWR)
$29 a day in: Fort Lauderdale, FL (FLL)
$21 a day in: Manchester, NH (MHT)
To receive continental.com Specials discounted rates, simply make your reservations in advance and be sure to request Product Code COOLUS. To make your reservation, contact National at 1-800-CAR-RENT (1-800-227-7368), or book your reservation online at:
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Please enter COOLUS in the Product Rate Code field, and 5037126 in the Contract ID field to ensure you get these rates on these dates.
* If you are traveling to a city or a different date that is not listed, National offers great rates when you book online at:
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For complete details on these offers, please refer to National's terms and conditions below.
****************************************
CONTINENTAL.COM SPECIALS RULES:
Fares include a $37.20 fuel surcharge. Passenger Facility Charges, up to $18 depending on routing, are not included. Up to $2.75 per segment federal excise tax, as applicable, is not included. Applicable International and or Canadian taxes and fees up to $108, varying by destination, are not included and may vary slightly depending on currency exchange rate at the time of purchase. For a complete listing of rules please visit:
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ALAMO RENT A CAR'S TERMS AND CONDITIONS:
Taxes (including VLF taxes up to US$1.89 per day in California and GST), other governmentally-authorized or imposed surcharges, license recoupment fees, fuel, additional driver fee, drop charges and optional items (such as CDW Waiver Savers(R) up to US$18.99 a day,) are extra. Renter must meet standard age, driver and credit requirements. Rates higher for drivers under age 25. Concession recoupment fees may add up to 14% to the rental rate at some on-airport locations. Up to 10.75% may be added to the rental rate if you rent at an off-airport location and exit on our shuttle bus. Weekly rates require a 5-day minimum rental or daily rates apply. For weekend rates, the vehicle must be picked up after 9 a.m. on Thursday and returned before midnight on Monday or higher daily rates apply. 24-hour advance reservation required. May not be combined with other discounts. Availability is limited. All vehicles must be returned to the country of origin. Offer not valid in San Jose, CA.
NATIONAL CAR RENTAL TERMS AND CONDITIONS:
Customer must provide Contract ID# at the time of reservation to be eligible for discounts. Offer valid at participating National locations in the US and Canada. Minimum rental age is 25. This offer is not valid with any other special discount or promotion. Standard rental qualifications apply. Subject to availability and blackout dates. Advance reservations required. Geographic driving restrictions may apply.
---------------------------------------
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arora-h/deleted_items/178.
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subject: THE LIGHTHOUSE: November 26, 2001
content: THE LIGHTHOUSE
"Enlightening Ideas for Public Policy..."
Vol. 3, Issue 47
November 26, 2001
Welcome to The Lighthouse, the e-mail newsletter of The Independent
Institute, the non-politicized, public policy research organization
<http://www.independent.org>. We provide you with updates of the
Institute's current research publications, events and media programs.
Do you know someone who would enjoy THE LIGHTHOUSE? Please forward
this message to a friend. If they like it, they can add themselves to
the list at http://www.independent.org/tii/lighthouse/Lighthouse.html.
-------------------------------------------------------------
IN THIS WEEK'S ISSUE:
1. Phony Stimulus Package Won't Fix the Economy
2. Crisis and Ratcheting Up Government Growth
3. De-politicizing the Final Choice
-------------------------------------------------------------
PHONY STIMULUS PACKAGE WON'T FIX THE ECONOMY
"Although understandably preoccupied with the war on terrorism, the
Bush administration needs to give some leadership to the economy.
This means recognizing its own mistakes," writes Independent
Institute research fellow Paul Craig Roberts, in a recent syndicated
column.
For starters, Bush should recognize that his tax cuts -- which are
phased-in and temporary rather than immediate and permanent -- will
do little to stimulate investment. Furthermore, the pork-barrel
spending package "is not a stimulus; it simply crowds out an
equivalent amount of private spending and prevents resources from
being used more productively," writes Roberts.
As Roberts says, the so-called "stimulus" package ignores the lessons
for stimulating long-term growth taught by supply-side economics
twenty years ago.
"The solution to the economy's problems is obvious and simple,"
Roberts argues. "Effective immediately, abolish the alternative
minimum tax, accelerate depreciation on a permanent basis and cut tax
rates on personal income."
See "Don't Forget the Economy," by Paul Craig Roberts (11/22/01), at
http://www.independent.org/tii/lighthouse/LHLink3-47-1.html
For more on fiscal policy, see "Twenty Years after Humphrey-Hawkins:
An Assessment of Fiscal Policy," by Jody Lipford (THE INDEPENDENT
REVIEW, Summer 1999), at
http://independent.org/tii/content/pubs/review/TIR41_lipford.html.
For supply-sider insights on the Reagan era deficits, see "What
Really Happened in 1981," by Alan Reynolds and Paul Craig Roberts
(THE INDEPENDENT REVIEW, Fall 2000), at
http://www.independent.org/tii/content/pubs/review/tir52_reyn.html.
-------------------------------------------------------------
CRISIS AND RATCHETING UP GOVERNMENT GROWTH
The wasteful pork in the recent spending package, and the dubious new
anti-privacy powers of the federal government, illustrate clearly how
government grows during national crises. Less obvious, however, is
the fact that when the emergencies subside, the new programs are
seldom dissolved. Often they are transformed into new programs or
agencies with new missions, ratcheting up government's growth.
The International Monetary Fund is one of thousands of examples that
could illuminate this government pathology, explain Independent
Institute research fellow Steve Hanke and senior fellow Robert Higgs
in a new op-ed for the FINANCIAL TIMES.
Formed in 1944 as part of the Bretton Woods agreement, the IMF was
intended to stabilize the global financial system -- by providing
credit to countries experiencing balance-of-payments problems under
the postwar pegged-exchange-rate system. But when President Nixon
closed the U.S. gold window in 1971 -- effectively ending the Bretton
Woods agreement -- the IMF became a multi-million dollar agency in
search of a new mission.
It soon found one. The IMF reinvented itself during the oil shocks of
the 1970s, and in the 1980s, with President Reagan's seal of
approval, by subsidizing loans to developing countries.
Today, the IMF is contemplating ways to financially assist coalition
partners in the War against Terrorism and to deny funds to
less-than-cooperative countries.
Government programs and institutions aren't the only things that get
ratcheted-up during national crises.
"The ratchet continues to operate on ideology, too," write Hanke and
Higgs. "A recent poll conducted by THE WASHINGTON POST indicates that
53 percent of Americans think the government 'is run for the benefit
of all the people,' up from 35 percent last year. Only 37 percent
agreed that 'the government is pretty much run by a few big interests
looking out for themselves,' the lowest percentage since 1966, when
33 percent embraced that view.
"It may be too much to expect a speedy end to the law of the ratchet,
but it is time to acknowledge what is going on. That, at least, may
make it easier to reverse the trend during times of stability."
See "Wake Up To the Law of Ratchet," by Steve Hanke and Robert Higgs,
at http://www.independent.org/tii/news/011126Higgs.html.
Also see:
"When Temporary Economic and Political Measures Become Permanent," by
Lisa Meyer (TheStreet.com, 10/10/01), at
http://www.independent.org/tii/lighthouse/LHLink3-47-2.html
"Crisis, Bigger Government, and Ideological Change: Two Hypotheses on
the Ratchet Phenomenon," by Robert Higgs (EXPLORATIONS IN ECONOMIC
HISTORY, Vol. 22, 1985), at
http://www.independent.org/tii/news/850000Higgs.html.
For more on the ratchet effect, see CRISIS AND LEVIATHAN: Critical
Episodes in the Growth of American Government, by Robert Higgs, at
http://liberty-tree.org/ltn/crisis-and-leviathan.html.
-------------------------------------------------------------
DE-POLITICIZING THE FINAL CHOICE
One of the most dramatic battles between federal and state
governments -- and a painful illustration of how drug prohibition
cripples human dignity -- is brewing in Oregon, where a federal judge
recently issued a court order to block U.S. Attorney General John
Ashcroft from interfering with the state's physician-assisted suicide
law.
(Declaring that physician-assisted suicide "was not a legitimate
medical purpose for prescribing drugs," Ashcroft -- who earier had
promised to uphold federalism over federal encroachment upon the
states -- had threatened to have the medical licenses of
participating doctors revoked.)
Many civil libertarians, understandably, see Ashcroft's threat as a
direct assault on human dignity in a matter too private and sensitive
to allow government interference between doctor and patient.
However, according to psychiatrist Thomas Szasz (member, Independent
Institute Board of Advisors), the fundamental problem is that our
laws make it unlawful to use lethal drugs to commit suicide --
except, as in the case of Oregon, when it is physician-assisted, and
even then only under limited circumstances.
In other words, no matter how painfully one may suffer from a
terminal illness, one's ultimate choice must be prescribed by a
physician.
Undoubtedly, this needlessly prolongs the suffering and anguish of
those law-abiding sufferers who decide that waiting for nature to
take its course is too long and too painful.
Drug and suicide law reform, however, would help restore genuine
dignity to those suffering from unspeakable pain. "Physician-assisted
suicide," writes Szasz in a new op-ed, "is but one of the
consequences of our drug laws."
By expanding their range of lawful options, drug and suicide law
reform would enable the terminally ill to take matters lawfully into
their own hands without interference from the state. It would also
help lift the burden from physicians struggling to interpret the
Hippocratic Oath.
"The American people are ceaselessly propagandized about the real
dangers from which drug prohibitions are intended to protect us,"
Szasz concludes. "The damage the prohibitions cause are glossed over
in silence or, more often, are unrecognized. We avoid confronting
problems of living as moral problems and choose instead to treat them
as medical problems. It is not a good choice."
See "Assisted Suicide Is Bootleg Suicide," by Thomas Szasz (LOS
ANGELES TIMES, 11/23/01), at
http://www.independent.org/tii/lighthouse/LHLink3-47-3.html
Also see:
"Beware of Pharmacracy," by Thomas Szasz (UPI, 8/21/01), at
http://independent.org/tii/news/010821Szasz.html.
"The Therapeutic State: The Tyranny of Pharmacracy," by Thomas Szasz
(THE INDEPENDENT REVIEW, Spring, 2001), at
http://www.independent.org/tii/content/pubs/review/tir54_szasz.html.
For more on federalism, see "Arguments for Federalism," by Alex
Tabarrok, research director of The Independent Institute, at
http://www.independent.org/tii/Presentations/Federalism.html.
-------------------------------------------------------------
THE LIGHTHOUSE, edited by Carl P. Close, is made possible by the
generous contributions of supporters of The Independent Institute. If
you enjoy THE LIGHTHOUSE, please consider making a donation to The
Independent Institute. For details on the Independent Associate
Membership program, see
http://www.independent.org/tii/tii_info/associat.html or contact Mr.
Rod Martin by phone at 510-632-1366 x114, fax to 510-568-6040, email
to <[email protected]>, or snail mail to The Independent
Institute, 100 Swan Way, Oakland, CA 94621-1428. All contributions
are tax-deductible. Thank you!
-------------------------------------------------------------
For previous issues of THE LIGHTHOUSE, see
http://www.independent.org/tii/lighthouse/Lighthouse.html.
-------------------------------------------------------------
For information on books and other publications from The Independent
Institute, see http://www.independent.org/tii/pubs.html.
-------------------------------------------------------------
For information on The Independent Institute's upcoming Independent
Policy Forums, see http://www.independent.org/tii/forums/events.html.
-------------------------------------------------------------
To subscribe (or unsubscribe) to The Lighthouse, please go to
http://www.independent.org/subscribe.html, choose "subscribe" (or
"unsubscribe"), enter your e-mail address and select "Go."
-------------------------------------------------------------
THE LIGHTHOUSE
ISSN 1526-173X
Copyright ? 2001 The Independent Institute
100 Swan Way
Oakland, CA 94621-1428
(510) 632-1366 phone
(510) 568-6040 fax
| ||
arora-h/deleted_items/179.
|
subject: Update to Merger Q&A
content: We've updated the Merger Q&A document on our Enron Updates site ( <http://home.enron.com/updates/mergerQA.html>), as a result of the many questions you've had concerning the merger between Enron and Dynegy. Questions addressed include those about Enron stock options, benefits and immigration status. Please stay tuned for additional updates.
| ||
arora-h/deleted_items/18.
|
subject: RE: Checking In
content: -----Original Message-----
From: Brian Scholte [mailto:[email protected]]
Sent: Monday, December 24, 2001 11:28 PM
To: [email protected]
Subject: Checking In
Hello Harry,
With all this news about Enron in the news lately, I couldn't help but think about you. Are you still there on one of the unfortunate ones?
Brian Scholte
[email protected] <mailto:[email protected]>
| ||
arora-h/deleted_items/180.
|
subject: November 27, 2001 - Stimulating times
content: Read what independent analyst Charles Payne has to say about potential market
stimuli for the week.
We also feature a report from columnist Dave Sterman, who discusses Internet
stocks with momentum; among our featured analyst research, independent firm
123Jump.com examines Internet stocks with cash to spare.
Members can also take advantage of an opportunity to sign up for free reports
from Morgan Stanley and read about Web infrastructure firm Loudcloud (LDCL),
among others.
You can also link directly to our research page, which features synopses
of broker and free reports, by clicking here:
http://www.multexinvestor.com/article.asp?docid=4554&nd=1127
***************************************************************
You are receiving this mail because you have registered for
Multex Investor. To unsubscribe, see bottom of this message.
***************************************************************
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==============================================================
Below
--------
- Investment ideas
- Broker and third-party research
- Online advice and chats
- Free and sponsored reports
Investment ideas
-----------------------------------------
1. INVESTMENT STRATEGIES
Stimulus is the key going forward
Investors themselves, and not any single outside force, may
generate a further market rally.
By Charles Payne, founder, CEO, and principal analyst, Wall Street Strategies
With Thanksgiving smack dab in the middle of the week, it was hard determining
what the market wanted to do or where investors' heads were at. After all, the
market seemed to be running on empty until the holiday-shortened Friday
session, when the market zoomed. Of course, sticking with the engine analogy,
nay-sayers will say that the market was just rolling downhill, benefiting from an
abbreviated session that saw lighter-than-normal volume. I would agree that
Fridays session wasnt an apples-to-apples comparison with regular sessions--it
was more like running a soapbox derby racer versus an open-wheel Indy-type
car that the market typically runs during a full session. According to those folks
that dont believe in the current market rally, Fridays results were amusing and
even entertaining, but of no enduring value.
It would be easy to write the session off as a day-race that held little value in the
grand scheme of things, but that would be a big mistake. In the soapbox derby,
gravity draws the homemade racers down a modest hill. The same could have
happened to stocks on Friday. Instead stocks climbed up that same modest hill.
Stocks defied both gravity and the naysayers by trading higher and higher as the
day went on. There is a message in that achievement: I think it tells us that when
left to its own devices, the market wants to rally higher. Sure, when there are
earnings reports, economic data, brokerage downgrades, wars, unemployment,
fear, and warnings from corporate America, the race becomes akin to handling a
high-performance race car and turning corners at 180 miles an hour. It isnt as
easy as it looks.
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=4549&nd=1127
2. INVESTMENT IDEAS
Models of success?
Surviving Internet players have better business models, but share
prices may still be too high for some.
By Dave Sterman
In a few weeks, 2001 will come to a close, putting the wraps on a forgettable year
for the Internet sector. Many firms have already headed for bankruptcy, and other
weaker players are also expected to shutter operations later in the winter.
But investors are clearly focusing on the eventual winners in the Internet space,
as share prices for healthier companies have been soaring in recent weeks. This
week, we went looking for net stocks that are still growing and appear firmly in
the "survivor" category.
We specifically looked for Web-oriented companies that are boosting sales at a
heady clip. As the accompanying table shows, these stocks have also seen their
shares rise sharply, leading to the question: are they still a bargain?
Click here to read more.
http://www.multexinvestor.com/article.asp?docid=4547&nd=1127
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Broker and third-party reports
-----------------------------------------
1. TODAY'S SPECIAL REPORT
Robertson Stephens reports on the current state of the nation's 4
regional bell operating companies.
A collective and individual take on BellSouth (BLS), Verizon (VZ),
Qwest (Q), and SBC (SBC) is provided, as well as investment conclusions.
Valuation, long-distance, DSL/data service, wireless, and competition are
discussed. (80-page report for purchase - $150)
http://www.multexinvestor.com/download.asp?docid=25610009&nd=1127
2. EDITOR'S PICK: CURRENT RESEARCH FROM THE CUTTING EDGE
CIBC World Markets discusses its view of cable and satellite
television providers.
CIBC explains its positions on both the cable and satellite
sectors. It identifies its favorite cable company and one its finds
"increasingly interesting," and discusses the proposed EchoStar (DISH)/GM-
Hughes (GMH) merger. (21-page report for purchase - $75)
http://www.multexinvestor.com/download.asp?docid=25575286&nd=1127
3. WHAT'S HOT?
Prudential Securities explains why communications chip investors
should watch government spending.
In this report, a discussion of how new government spending trends could have
an impact on companies producing communications semiconductors. Affected
companies as well as positive and negative scenarios are discussed. (4-page
report for purchase - $10)
http://www.multexinvestor.com/download.asp?docid=25557033&nd=1127
4. INVESTORS' CHOICE: 3-DAY FAVORITE
Standard & Poors profiles the NYSE's most capitalized company,
General Electric (GE).
S&P provides an overview, business summary, and industry outlook for GE.
Also included in the report, a peer group comparison, recent news headlines,
Wall Street analysts' consensus opinions, and S&P's fair value for
the stock. (5-page report for purchase - $5)
http://www.multexinvestor.com/download.asp?docid=407622&nd=1127
5. THIRD-PARTY REVIEW
123Jump.com makes the case for several cash-healthy Internet
stocks.
Five stocks are identified with strong growth potential in
addition to attractive cash positions at present. Caution is urged with regards to
companies with potentially high burn rates and unsustainable growth prospects.
(6-page report for purchase - $25)
http://www.multexinvestor.com/download.asp?docid=25536903&nd=1127
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To be sure you receive your TTA newsletter every week, click here:
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==============================================================
Online advice and chats
-----------------------------------------
1. ASK THE ANALYST
Market Edge's Tom Ventresca explains how to profit from industry group
analysis.
Ventresca discusses how Market Edge's proprietary Power Ratings system can
help you identify the strongest stocks in the strongest sectors. Can this system
boost your portfolio returns? You can pose him questions until Wed., Nov. 28.
Ask the analyst.
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Register to receive a FREE weekly market commentary and FREE trial! Get
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2. ASK THE EXPERT
American Century Investment's Karen Burnett talks about choosing a retirement
plan for your business.
Choosing a retirement plan for your business or yourself is one of the most
important financial decisions you will make. Karen Burnett of American Century
Investments will take your questions until Thurs., November 29.
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3. TONIGHT'S LIVE EVENT
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about creating your own private pension. Click here
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Free and sponsored reports
-----------------------------------------
1. FREE RESEARCH REPORT
Robert Baird & Co. takes a look at the business process outsourcing industry.
Baird analysts provide an update on developments among financial processing
companies. Industry charts, graphs, insights, and a featured stock highlight their
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the next 72 hours.
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2. DAILY FREE SPONSOR REPORT
Morgan Stanley sets a $6 price target on Web infrastructure solutions maker
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The firm believes in LDCL's technology team, and argues that the company has
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and The Telecomm Analyst by Multex.com. The newsletters will
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sectors. To see this week's issue,
click here:
http://www.thetelecommanalyst.com/ or
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| ||
arora-h/deleted_items/181.
|
subject: Looks like this is where most of action is
content: There is atleast one group that is ramping
up its hiring !!!!
Job Opportunity Contact us if you have updated
information about positions posted here.
General Information
Job Title Office Director, Office of Homeland Security
CompanyName U.S. Government
City Washington
State/ Province District of Columbia
Country United States
Region
Industry Government
Function Management
Link to Website
(http://www.[company].com)
Company Description
Description of Position Oversee 100-120 detailees from
other government agencies reporting to Deputy Chief of
Staff to Tom Ridge in new office of Homeland Security.
The individual will function very much as a COO.
Preferred Candidate
Likely MCK Skill Level Principal
Base Salary Range
Qualification U.S. Citizen in good standing (able to
pass an FBI clearance quickly)
Experience Strong management experience; government
experience helpful, but not mandatory; ability to
motivate a large group
Additional Elements
| ||
arora-h/deleted_items/183.
|
subject: Swaption Vols
content: We are ready to start using Swaption Volatility Curves in our calcs
I have identified the following regions and terms that need swaption volatilities posted and the values I have currently entered into curve manager. These values were based on the latest deals or my best guess, as not all the volatilities are consistent across similar deals:
Cinergy, Cal '02, .25
Entergy, Cal '02, .27
Ercot South, Cal '02, .25
Nepool, Cal '02, .3
Nepool, Cal '02, .24
West Hub, Cal '02, .24
West Hub, Cal '03, .28
NY East (zone G), Cal'02-'03, .16 (position in LT-NEMGMT book)
Options Desk: for today only, besides final posting swaption vols for today 11/15 please also final post yesterday 11/14.
Please call if you have any questions.
Michael Mattox
x34317
|
e-mail <[email protected]>, e-mail <[email protected]>,
|
|
arora-h/deleted_items/184.
|
subject: WPS Yarmouth/Wyman UE offer - no action requested for now
content: FYI
WPS owns about 20 mw of Yarmouth 4 (often referred to as Wyman) (9800 heat rate) in Maine and is making this indicative offer to CPs for cal 02...
$5 capacity payment plus actual fuel costs (#6, 0.7% sulfur) - they report a current bid at around $4.75
I have asked them to provide history of : forced outage, actual oil costs compared to index, reduced output due to congestion constraints (this last summer), and other information. Until we get this and other information I told them we could not properly evaluate the value of this opportunity.
Woody
| ||
arora-h/deleted_items/185.
|
subject: RE: Synthetic Peaker
content: Greg,
Attached is a term sheet for the TVA tolling deal.
Please call us on the options desk to discuss after you've taken a look at it.
Thanks,
Iris Mack
x3-6711
-----Original Message-----
From: Arora, Harry
Sent: Monday, November 05, 2001 8:37 AM
To: Mack, Iris
Subject: FW: Synthetic Peaker
-----Original Message-----
From: Blair, Greg
Sent: Friday, November 02, 2001 3:45 PM
To: Blair, Greg; Arora, Harry
Cc: Cavazos, Brandon
Subject: RE: Synthetic Peaker
P.S. I'm in NY, at home, if either of you need to speak with me. 516 746-1751.
-----Original Message-----
From: Blair, Greg
Sent: Fri 11/2/2001 3:43 PM
To: Arora, Harry
Cc: Cavazos, Brandon
Subject: RE: Synthetic Peaker
Harry and Brandon:
Just got off the phone with the customer. Seems we were sufficiently off the market that they didn't see any upside in stringing us along. I told them that the indicative price came from our structuring group and that we would now try to tighten things up directly with the desk. Ergo, we get another shot. Let's make it a good one.
-----Original Message-----
From: Arora, Harry
Sent: Fri 11/2/2001 12:38 PM
To: Blair, Greg
Cc:
Subject: RE: Synthetic Peaker
Greg
1. Who made these prices ?
2. Is this a into TVA product
3. Is this a 3 yr starting 2003 they are asking for ?
4. How much size are they interested in ?
5. Is this a day ahead 5x16 (16 hour minimum) product or is there a 4hr/8hr min ?
Harry
-----Original Message-----
From: Blair, Greg
Sent: Friday, November 02, 2001 12:25 PM
To: Arora, Harry; Cavazos, Brandon
Subject: FW: Synthetic Peaker
Harry and Brandon:
Apparently, we are not as competitive as we need to be here. Let me know if there's anything we can do here to make this more attractive. My quote to them is at the bottom of the thread.
-----Original Message-----
From: "Hilson, D. Wayne" <[email protected]>@ENRON
Sent: Fri 11/2/2001 11:07 AM
To: Blair, Greg
Cc: Goza, Stuart L.
Subject: RE: Synthetic Peaker
Greg:
We have completed our evaluation of the two proposed structures (1) May
through September and (2) June through August for a three year duration
beginning in 2003. Unfortunately, based on the prices quoted below, neither
evaluates well enough that we would want to pursue any further. We
appreciate your interest and remain interested in any future proposals you
may want to offer.
Regards,
Wayne Hilson
(4230 751-2916
-----Original Message-----
From: [email protected] [ <mailto:[email protected]>]
Sent: Tuesday, October 23, 2001 5:33 PM
To: [email protected]
Subject: RE: Synthetic Peaker
Any idea on timing of a response? Just curious.
-----Original Message-----
From: "Hilson, D. Wayne" <[email protected]>@ENRON
Sent: Monday, October 15, 2001 4:06 PM
To: Blair, Greg
Subject: RE: Synthetic Peaker
Thanks.
We'll be in touch.
-----Original Message-----
From: Blair, Greg [ <mailto:[email protected]>]
Sent: Monday, October 15, 2001 3:32 PM
To: [email protected]
Subject: Synthetic Peaker
Wayne:
May 1 through Sep 30: $5.83/kw-mo
Jun 1 through Aug 31: $8.78/kw/mo
Heat Rate: 10,900
VOM: $1.63/MWh
Term: 3 years
Start: 2003
Availability: 5x16
Delivery: Into TVA
Regards, Greg
**********************************************************************
This e-mail is the property of Enron Corp. and/or its relevant affiliate
and
may contain confidential and privileged material for the sole use of the
intended recipient (s). Any review, use, distribution or disclosure by
others is strictly prohibited. If you are not the intended recipient (or
authorized to receive for the recipient), please contact the sender or
reply
to Enron Corp. at [email protected] and delete
all
copies of the message. This e-mail (and any attachments hereto) are not
intended to be an offer (or an acceptance) and do not create or evidence
a
binding and enforceable contract between Enron Corp. (or any of its
affiliates) and the intended recipient or any other party, and may not
be
relied on by anyone as the basis of a contract by estoppel or otherwise.
Thank you.
**********************************************************************
| ||
arora-h/deleted_items/186.
|
subject: BCP Seat Assignments
content: All:
Attached you will find a list that reflects your seat assignments for Business Continuity Planning (BCP). These seats are located on the 30th and 31st Floors of Enron Center North (ECN). As previously communicated, you will report to these designated seats in the event of an outage in ECS.
The exception to this is as follows:
If your seat assignment is located on the 31st Floor, you will report to your original location that you occupied prior to your move into ECS. This will hold true until the Monday after Thanksgiving, as we will have the 31st floor seats set up at that time.
Testing:
Once you have moved to ECS, if you would like to test your BCP location, you will be able to test your seat for functionality every Thursday from 3-6pm. Testing is not required, but is highly recommended.
If anyone has any questions or concerns about these procedures, please feel free to contact me at any time.
Regards,
Stephen R. Harrington
Technical Project Manager, ECS Project
Enron Net Works, LLC
w: 713-853-7619
p: 877-651-7361
c: 713-444-7279
[email protected]
| ||
arora-h/deleted_items/187.
|
subject: RE: Lecture Notes for Options Session today
content: Hi Dave,
The slides for today's options session may be found on the following drive:
m:power2\options\power options course notes\Introduction to Power Options Lecture Notes (11-19-01).ppt
Will you please forward this information to the attendees.
As per your request, I made it fairly introductory - since you stated that the participants may be on different levels wrt to their options knowledge.
However, they stated that they would like the next section to be more advanced - for example to jump right into the crack spread module that I gave to you guys a few weeks ago, along with a few cases studies discussions from originators, generation investments, etc.
Thanks,
Iris
| ||
arora-h/deleted_items/188.
|
subject:
content: Harry,
We are currently trying to stress some options that are Enpower to determine sensitivity to changes in price, vols or time. Can I grab you a few moments to discuss.
Frank
| ||
arora-h/deleted_items/189.
|
subject: Next Options Session & Notes
content: The next options session will be held on Monday, Dec. 3 1:00-2:00 in ECS 05990.
The topic will be "Options Session 2: Spread Options", covering crack, heat and spark spreads and will include case studies.
Dave
| ||
arora-h/deleted_items/19.
|
subject: Good morning - these are the levels we will be following today
content: Good morning - these are the levels we will be following today in US,
TY,FV, E$, SP:
USH2 TYH2 FVH2 EDM2 SPH2
target 101-26 105-05 105-19+ 97.64 1157.30
target 101-09 104-24 105-12 97.60 1153.20
target 100-30 104-15 105-06 97.55 1149.10
pivot 100-24 104-12+ 105-04+ 97.56 1147.40
pivot 100-14 104-04 105-00 97.52 1146.60
target 100-05 103-31+ 104-28 97.50 1142.60
target 99-29 103-22+ 104-23+ 97.47 1140.90
target 99-20 103-17+ 104-18+ 97.42 1135.00
next 12/27 12/28 12/28
cycle
Good Luck Today
==================================================
Jon and Warren at the CBOT
312-987-5970 or 800-547-3587, 312-347-5061
This report has been prepared for informational purposes only. It does not
constitute an offer, recommendation or solicitation to buy or sell any
securities. It is based on information generally available to the public
from sources believed to be reliable. No representation is made that the
information is accurate or complete or that any returns indicated will be
achieved. Past performance is not indicative of future results. Price and
availability are subject to change without notice. Additional information
is available upon request.
==================================================
| ||
arora-h/deleted_items/190.
|
subject: follow up on important issue
content: Harry, we are working on a data project and I have a question for you. Could you give me a call when you get back from Vacation?-Regards! Kim
| ||
arora-h/deleted_items/191.
|
subject: Gas Indices
content: <HTML>
<TITLE>Gas Indices - IntercontentalExchange</TITLE>
<BODY>
<P>
<P ALIGN=CENTER>
<FONT SIZE=+1>
<B>
IntercontinentalExchange
</B><BR>
</FONT>
Firm Physical Natural Gas Price Bulletin
<BR>
<BR><B>
For Natural Gas Delivered on Wednesday, November 28, 2001
</B>
<BR>
<FONT SIZE=-1>
<I>
(Trade Date of Tuesday, November 27, 2001)
</I>
</FONT>
<BR><BR>
Click here to access <A HREF="http://www.intcx.com/SubscriberServlet/subscriberservlet.class?operation=gasIndexForm&hub=All">index history</A>.
<BR>
<BR>
<FONT SIZE=-1>
<I>
* volume represents sell-side only *
</I>
</FONT>
</P>
<TABLE ALIGN="CENTER" WIDTH="100%" cellspacing="8">
<TR>
<TH align=left valign=bottom width="15%"> <FONT size=-1><U><I>Region</I></U><BR> <U>Hub</U></FONT></TH><TH align=right valign=bottom width="6%"><FONT size=-1><U>High</U></FONT></TH>
<TH align=right valign=bottom width="6%"><FONT size=-1><U>Low</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Wtd Avg Index</U></FONT></TH>
<TH align=right valign=bottom width="8%"><FONT size=-1><U>Change ($)</U></FONT></TH>
<TH align=right valign=bottom width="9%"><FONT size=-1><U>Vol (mmBtu)</U></FONT></TH>
<TH align=left valign=bottom width="42%"><FONT size=-1><U>Hub Name</U></FONT></TH></TR>
</TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>LOUISIANA<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>ANR SE</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0900</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8653</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0773</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 335,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>American Natural Resources Pipeline Co. - SE Transmission Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia Onshore</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5950</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7426</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0098</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 289,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gulf Transmission Co. - Onshore Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Henry Hub</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8990</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0821</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,259,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Henry Hub tailgate - Louisiana </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL LA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9199</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1225</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 265,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 500L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.4800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8412</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 214,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co.-Zone L, 500 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Tenn 800L</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.4700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.7692</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1305</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 221,300</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Tennessee Gas Pipeline Co.-Zone L, 800 Leg Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8331</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1944</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 250,700</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - East LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO WLA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1250</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.5500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8223</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2301</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 211,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - West LA </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco 65</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8037</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0136</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 145,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transco - Station 65 </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Trunkline ELA</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.4600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8193</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1175</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 138,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Trunkline Gas Company - East Louisiana Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TxGas SL</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8437</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0955</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 374,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Gas Transmission Corp.-Zone SL FT Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>MIDCONTINENT<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>MichCon, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.5000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9750</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3028</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2782</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 270,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Michigan Consolidated </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Midcont</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1324</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3366</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 157,700</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Mid-Continent Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL Nicor, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4700</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8400</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1943</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2759</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 1,146,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Nicor Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NGPL NIPSCO, citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.8550</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.2151</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2344</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 237,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Natural Gas Pipeline Co. of America, Nipsco Citygate</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>NNG Demarcation</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3617</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2849</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 234,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Northern Natural Gas, Demarcation Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>NORTHEAST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Columbia TCO</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.8440</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1063</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 710,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Columbia Gas Co. - TCO Pool </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Dominion So.Point</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.2300</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $1.9018</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .1479</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 243,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Dominion - South Point </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>TETCO M3</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7425</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1459</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2367</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 218,900</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Texas Eastern - M3 Zone </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Transco Z-6 (NY)</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.7600</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1603</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .0924</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 130,200</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Transcontinental Gas Pipe Line Corp. - Zone 6 (NY)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso non-Bondad</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1800</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3038</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3327</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 159,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - San Juan Basin, Blanco Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> Huntingdon/Sumas</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4650</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4238</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2272</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 117,600</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Westcoast Energy & Northwest Pipeline Corp.</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Opal</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.0500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.1438</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .2545</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 75,800</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Opal</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>PG&E Citygate</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.7200</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.6311</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3528</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 161,500</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>PG&E - Citygate </FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> SoCal Border</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.6000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.3500</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.4317</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3114</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 308,400</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Southern California Border Points (Ehrenberg,Topock,Needles)</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1><B><I><BR>WEST TEXAS<BR></I></B></FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>El Paso - Keystone</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4100</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.1750</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3286</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3599</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 396,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>El Paso - Keystone Pool</FONT></TD></TR>
<TR><TD ALIGN="LEFT"><FONT size=-1> <NOBR>Waha</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $2.4150</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> $1.9000</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B> $2.3326</B></FONT></TD><TD ALIGN="RIGHT"><FONT size=-1><B>+</B> .3120</FONT></TD><TD ALIGN="RIGHT"><FONT size=-1> 284,000</FONT></TD><TD ALIGN="LEFT"><FONT size=-1>Waha Hub - West Texas </FONT></TD></TR>
</TABLE>
<P>
<FONT SIZE=-1>
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arora-h/deleted_items/192.
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subject: Power Indices
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<TITLE>Power Indices - IntercontentalExchange</TITLE> =
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IntercontinentalExchange =
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Firm Power Price Bulletin =
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For Power Delivered on Wednesday, November 28, 2001 =
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(Trade Date of Tuesday, November 27, 2001) =
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Click here to access <A HREF=3D"http://www.intcx.com/SubscriberServlet/subs=
criberservlet.class?operation=3DpowerIndexForm&hub=3DAll">index history</A>=
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* volume represents sell-side only * =
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<TABLE ALIGN=3D"CENTER" WIDTH=3D"70%"> =
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<TH ALIGN=3D"LEFT" WIDTH=3D"15%"><FONT size=3D-1><U>Hub</U></FONT></TH> =
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<TH ALIGN=3D"RIGHT"><FONT size=3D-1><U>High</U></FONT></TH> =
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<TH ALIGN=3D"RIGHT"><FONT size=3D-1><U>Low</U></FONT></TH> =
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<TH ALIGN=3D"RIGHT" WIDTH=3D"22%"><FONT size=3D-1><U>Wtd Avg Index</U></FON=
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<TH ALIGN=3D"RIGHT"><FONT size=3D-1><U>Change ($)</U></FONT></TH> =
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<TH ALIGN=3D"RIGHT" WIDTH=3D"19%"><FONT size=3D-1><U>Vol (Mwh)</U></FONT></=
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Cinergy</FONT></TD><TD ALIGN=3D"RIGH=
T"><FONT size=3D-1> $20.50</FONT></TD><TD ALIGN=3D"RIGHT"><FONT siz=
e=3D-1> $18.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$18.45</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>-</B> =
.12</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 55,200</FONT=
></TD></TR> =
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Comed</FONT></TD><TD ALIGN=3D"RIGHT"=
><FONT size=3D-1> $17.25</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=
=3D-1> $16.75</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$16.96</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
.96</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 4,800</FONT>=
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Entergy</FONT></TD><TD ALIGN=3D"RIGH=
T"><FONT size=3D-1> $18.00</FONT></TD><TD ALIGN=3D"RIGHT"><FONT siz=
e=3D-1> $17.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$17.33</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>-</B> =
.35</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 12,800</FONT=
></TD></TR> =
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Nepool</FONT></TD><TD ALIGN=3D"RIGHT=
"><FONT size=3D-1> $27.75</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=
=3D-1> $27.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$27.47</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
.25</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 12,000</FONT>=
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>Palo Verde</FONT></TD><TD ALIGN=3D"R=
IGHT"><FONT size=3D-1> $29.50</FONT></TD><TD ALIGN=3D"RIGHT"><FONT =
size=3D-1> $27.75</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1=
> $28.80</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B=
> 6.35</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 5,600</F=
ONT></TD></TR> =
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>PJM-West</FONT></TD><TD ALIGN=3D"RIG=
HT"><FONT size=3D-1> $23.25</FONT></TD><TD ALIGN=3D"RIGHT"><FONT si=
ze=3D-1> $22.80</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$22.96</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
1.24</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 50,400</FON=
T></TD></TR> =
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>SP-15</FONT></TD><TD ALIGN=3D"RIGHT"=
><FONT size=3D-1> $32.50</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=
=3D-1> $29.50</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$31.13</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> =
6.94</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 6,400</FONT>=
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<TR><TD ALIGN=3D"LEFT"><FONT size=3D-1>TVA</FONT></TD><TD ALIGN=3D"RIGHT"><=
FONT size=3D-1> $20.00</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D=
-1> $17.00</FONT></TD><TD ALIGN=3D"RIGHT"><B><FONT size=3D-1> =
$18.04</B></FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1><B>+</B> .2=
9</FONT></TD><TD ALIGN=3D"RIGHT"><FONT size=3D-1> 7,200</FONT></T=
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Includes all trades done from 6 AM to 11 AM Central Prevailing Time on the =
trade date specified for financially firm power delivered during the on-pea=
k hours (6 AM - 10 PM CPT for Eastern hubs / 6 AM - 10 PM Pacific Prevailin=
g Time for Western hubs) on the delivery date(s) specified. =
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IntercontinentalExchange is the world's most liquid trading platform for ov=
er-the-counter energy and metals. Active markets include North A=
merican power and natural gas, global crude and refined oil products, and p=
recious metals. Traded instruments include forwards, swaps, and =
options. =
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In order to receive the proprietary information contained in this email, yo=
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This data is provided to you free of charge. IntercontinentalExc=
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To become an Exchange Participant or inquire about the indices, please cont=
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To unsubscribe from this service, click here <A HREF=3D"http://www.intcx.co=
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©Copyright IntercontinentalExchange, Inc. 2001, All Rights Reserved. =
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arora-h/deleted_items/193.
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subject: Yahoo! Email Verification
content: TO VERIFY "[email protected]" as a valid email
address for the Yahoo! account "harrysarora",
click on the following link or enter it in your browser.
http://verify.yahoo.com/v/recv?109e3
You may be asked to sign in first.
Follow the instructions on our site. If it asks for your
Verification Code, enter: 109e3
You will receive one email per unverified address.
Regards,
Yahoo! Member Services
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IF "harrysarora" IS NOT YOUR ACCOUNT, click on the following
link or enter it into your browser.
http://verify.yahoo.com/v/remove?.k=109e3&.lid=usLx8wKAEXx5qDgYfA--
This will remove "[email protected]" from
the Yahoo! account "harrysarora".
Sorry for the inconvenience.
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arora-h/deleted_items/194.
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subject: Breakfast & Lunch - $5.00 ea
content: Starting tomorrow, 11/28/01 we will be included with the Gas Breakfast and Lunches. However, there will be a cost of $5.00 each or $10.00 total when breakfast is provided. They will have lunch everyday and breakfast only three days of the month, which will be during bid week.
I will come around every morning and collect your money...I will then have to provide a list to the Gas people who will be checking your name off as you enter the breakfast/lunch line.
Please let me know if you have any questions.
REMEMBER...ONLY THOSE WHO GIVE THE $5.00 WILL BE EATING.
Thanks for your cooperation,
T.Jae Black
East Power Trading
Assistant to Kevin Presto
off. 713-853-5800
fax 713-646-8272
cell 713-539-4760
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